Friday , 22 September 2017

German pharma giant divests interests

KARACHI: Germany’s Merck KGaA has executed a binding contract to divest its shareholding in Pakistan to Martin Dow Ltd, a leading pharmaceutical company in Pakistan. The companies also agreed on long-term agreements whereby the business in Pakistan will have access to Merck healthcare and life science portfolios, ensuring continued supply …

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Army chief witnesses night-dawn drill in Kharian

RAWALPINDI: Army chief General Raheel Sharif spent the Monday night in a field near Kharian and witnessed the night and dawn operations of the central command as part of army field exercises. According to a statement issued by the Inter-Services Public Relations (ISPR), the exercises were aimed at validating the …

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Definitive diagnosis: Punjab PA seeks answers over lack of hepatitis-C tests

RAWALPINDI: Administrations of the three allied hospitals in the garrison city have been asked by the Punjab Assembly Secretariat to explain their inability to conduct specific tests to diagnose hepatitis-C, hospital sources told The Express Tribune. Superintendents of Holy Family Hospital (HFH), Benazir Bhutto Hospital (BBH) and District Headquarters Hospital …

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Buck stops elsewhere: CDA blames felling of trees on Punjab govt

ISLAMABAD: The Capital Development Authority (CDA) has passed the buck on the Punjab government for massive illegal felling of trees in the capital. On October 6, a three-judge Supreme Court bench headed by Justice Mian Saqib Nisar issued a notice to the federal government with directions to come up with …

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QAU a sitting duck for terrorist attacks, says VC

ISLAMABAD: The Quaid-e-Azam University (QAU) is on the hit list of terrorists due to its stature, but it is yet to construct its boundary wall due to encroachments, civic agencies’ failure to cooperate and lack of funds. This was stated by QAU Vice Chancellor Dr Javed Ashraf at a press …

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India withdraws 500 and 1,000 rupee notes in fight against graft, ‘black money’

Indian Prime Minister Narendra Modi on Tuesday announced that 500 and 1,000 rupee banknotes would be withdrawn from the financial system at midnight, saying it was part of a crackdown on rampant corruption. The surprise step appears to be designed to bring billions of dollars worth of cash in unaccounted …

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Voicing grievance: Mine, not yours, say owners to mafia in K-P

ISLAMABAD: An eight-year ban on excavation has taken its toll on Khyber-Pakhtunkhwa’s (K-P) mining industry, while springing into action organised gangs who are now taking advantage of the void and pushing the remaining few legitimate players out of business. The ban, originally imposed by the provincial government, was overturned this …

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Inter-corporate debt: PSO’s receivables swell to Rs251.7 billion

ISLAMABAD: Though the government claims to have restricted inter-corporate debt, it is still haunting state-run oil marketing company Pakistan State Oil (PSO) as its receivables from different clients, particularly power producers, have piled up to Rs251.7 billion. PSO is a major supplier of fuel to the power companies, which have …

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Proposal rejected: ECC rules out subsidy on LPG sales in remote areas

ISLAMABAD: The Economic Coordination Committee (ECC) has turned down a proposal of the Planning Commission that suggested direct subsidy on liquefied petroleum gas (LPG) supply through cylinders in line with an Indian model. The ECC’s response came in its meeting held on October 31, 2016 to consider and give approval …

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Market watch: Index ends slightly negative as US election looms

KARACHI: Late-day selling wiped off all gains equities made during intra-day trading as the benchmark-100 index closed marginally lower after a volatile session. The earlier half of the day saw the KSE-100 reach a new record high, moving past the 42,400-point mark, but profit-taking by a few foreign investors ahead …

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