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Author Archives: CT Report

RCCI & RWMC join hands to waste free Rawalpindi

RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) and Rawalpindi Waste Management Company (RWMC) will work together to make the city clean and waste free. Both organizations will make close liaison for improving the civic life of the residents and shared suggestions and recommendations for cleanliness drives, activities and plans under Glorious Rawalpindi project. This was stated by Awais ... Read More »

PIA & Etihad Airways relaunch code-share partnership

ISLAMABAD: Pakistan International Airlines (PIA) and Etihad Airways renewed the code-share agreement, allowing passengers access to each airlines routes. A PIA spokesperson said that under the code-share partnership, the customers of the national flag carrier could also travel on the flights of Etihad Airways across the globe. In return, PIA will facilitate the passengers of Etihad Airways on Abu Dhabi-Pakistan ... Read More »

Quetta Customs recovers huge quantity of Boostin injections

QUETTA: Collectorate of Customs staff deputed at Quetta International Airport has seized large quantity of milk-enhancement hormone injections for cattle; import of these hormones is prohibited in Pakistan. Sources told that Collector Customs Preventive Iftikhar Ahmed received credible information about smuggling of hormones injection. He constituted a team under the supervision of Additional Collector Yasir Wahab which also included Deputy ... Read More »

PSX closes in green amid range-bound trading

KARACHI: The Pakistan Stock Exchange (PSX) ended a range-bound session on Thursday slightly positive. Foreign investors closed as net buyers for the sixth consecutive session on Wednesday with a net inflow of $1.80 million. The KSE-100 Index recorded its intraday high at 37,507.02 after gathering 340.06 points. It then slid to its intraday low at 37,130.01 after shedding 36.95 points. ... Read More »

NAB recovers Rs500m from Ishaq Dar’s bank accounts

LAHORE: The National Accountability Bureau claimed that it has recovered Rs500 million from Pakistan Muslim League-Nawaz senior leader and former finance minister Ishaq Dar, stated an official press statement on Thursday. According to the NAB press release, under the ongoing investigation against Dar, Rs500 million have been recovered from his accounts and transferred to the provincial government. In Gulberg, Dar’s ... Read More »

PSX closes in green amid range-bound trading

KARACHI: The Pakistan Stock Exchange (PSX) ended a range-bound session on Thursday slightly positive. Foreign investors closed as net buyers for the sixth consecutive session on Wednesday with a net inflow of $1.80 million. The KSE-100 Index recorded its intraday high at 37,507.02 after gathering 340.06 points. It then slid to its intraday low at 37,130.01 after shedding 36.95 points. ... Read More »

PEVMA established to promote induction of electric vehicles

KARACHI: The electric vehicles manufacturers and assemblers have come together to establish Pakistan Electric Vehicles Manufacturers Association (PEVMA) with Mr. Sheikh Ehtesham ul Haq of SZS Group and Mr. Muhammad Ayaz of Green Wheels Private Limited nominated as Chairman and Senior Vice Chairman of the association. The objective of establishing the association is to promote the induction of Electric Vehicles ... Read More »

ANF foils bid to smuggle narcotics from Bacha Khan Airport

PESHAWAR: Anti-Narcotics Force (ANF) arrested an accused person namely Shah Sarwar Khan resident of Bannu at Bacha Khan International Airport, and recovered 1.15 kilograms hashish which was concealed in his trolley bag. He was travelling to Sharjah through flight no: PA-612. ANF also arrested accused namely Waheedullah resident of Bannu from Peshawar Airport. In another operation, ANF Peshawar intercepted a ... Read More »

Govt to take fish export up to $3b

ISLAMABAD: The government was determined to take the export of fish up to three billion dollars, from 400 million dollars, said Parliamentary Secretary for Maritime Affairs Jamil Ahmed Khan in the National Assembly. Responding to a supplementary question during question hour on Thursday, he said, “Pakistan fishing market has the capacity to export about 2 to 3 billion Dollars fish, ... Read More »

KPT shipping intelligence report Nov 14

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Thursday. ALONG SIDE (Bulk Oil Pier) OP-I Lahore D. Crude Oil PNSC 13/11/19 OP-II Elandra Spruce D. Mogas Alpine 11/11/19 OP-II Shalamar D. Crude Oil PNSC 11/11/19 OP-II Sunray D. Mogas GAC 13/11/19 ALONG SIDE (East Wharves): 1 Stolt Commitment ... Read More »

Google to offer bank accounts next year

NEW YORK: Alphabet Inc’s Google will offer personal checking accounts from sometime next year in partnership with Citigroup Inc and a small credit union at Stanford University, a person familiar with Google’s plans said. The details of the project, named Cache, were first reported by the Wall Street Journal and follow moves by tech heavyweights Apple Inc and Facebook Inc ... Read More »

US dollar continues to inch upwards against Pak Rupee

KARACHI: The US dollar (USD) increased its worth by 5 paisas in the interbank market against the Pakistan Rupee (PKR), a 2 paisa increase was also recorded yesterday, according to media. The overall value of the greenback jumped from the previous, 155.40 to 155.45 PKR, reported the forex dealers. Gold rates in the local market also saw an increase of ... Read More »

Sino-Pak joint venture to invest $600m in tyres manufacturing sector

KARACHI: The Sino-Pak Tire Manufacturing Joint Venture is “an import substitution opportunity” that seeks to leverage Pakistan’s locational advantage as well as growing market for vehicle tyres, said Dr Xu Peng, Managing Director of InvestTarget — the investment bank and private equity fund which is the largest investor in the consortium. The company will aim to produce five to six ... Read More »

LTU detects tax evasion of Rs100b from July to October of FY2019-20

KARACHI: The country’s corporate sector has been found involved in at least Rs100 billions of tax evasion and avoidance during the last four months, senior Large Taxpayers Unit (LTU) revealed on Thursday. Inland Revenue Commissioner Zulfiqar Memon and Girdhari Mal while addressing a press conference said that Large Taxpayers Unit (LTU) Karachi, unearthed Rs100 billion worth of tax fraud in ... Read More »

Poverty alleviation first step towards prosperity: Hafeez Shaikh

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh has described development of human skills, working in partnerships and allowing the private sector to work at its full potential as the three key drivers of development and prosperity for any country or nation. “The big lesson of development history is the model presented by countries ... Read More »

NA panel wants NADRA to simplify ID card correction process

ISLAMABAD: The National Assembly’s Standing Committee on Interior Thursday recommended setting up more National Database Registration Authority (NADRA) centres across the country to facilitate the public. A meeting of the NA panel was held today under the stewardship of MNA Raja Khurram Shahzad Nawaz. The committee proposed that NADRA establish a registration center in Karachi’s Ibraheem Haidri area to facilitate ... Read More »

Mobile phones commercial imports increase by 110pc

KARACHI: The successful implementation of the new mobile phone registration system, introduced by the Pakistan Telecommunication Authority, has resulted in a significant increase in commercial imports of mobile phones. According to statistics available with the media, commercial import of mobile phones has increased by 110 per cent in one year. In the year 2018, 9,564,424 mobile phones were imported, whereas ... Read More »

SBP’s reserves rise $40m to $8.39b

KARACHI: The State Bank of Pakistan’s (SBP) reserves increased by $40 million to $8.39 billion during one week ending on November 8. According to the central bank, the total liquid foreign reserves held by the country stood at $15.50 billion. The break-up of the foreign reserves position is as under: Foreign reserves held by the State Bank of Pakistan: $8.39 ... Read More »

Beaches in south west France closed after 900kg of cocaine washes ashore

French authorities have closed beaches in south west France as packages of cocaine and other drugs continue to wash up daily along the Atlantic coast, with nearly 900kg discovered since mid-October. Officials say the cocaine is extremely pure at some 83 percent, warning people who find the packages not to touch them but to warn the police. That has not ... Read More »

Big Red Business: Breaking down Nebraska’s 2021 trip to Ireland

Nebraska will be dancing an Irish jig to the tune of $250,000 when it opens the 2021 football season in Dublin’s Aviva Stadium against Illinois. That’s the guaranteed amount the school will receive for playing the Aug. 28th, 2021 Aer Lingus Football Classic. The payment should cover Nebraska’s travel expenses and hopefully, then some, according to a copy of the ... Read More »