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Author Archives: CT Report

KPT shipping movement report

KARACHI: Following were the movement of ships at Karachi Port during the last 24 hours, ending at 0700 hours on Thursday. SHIPS SAILED: Hyundai Confidence Cont Sima Prestige Cont SHIPS BERTHED: Commodore Cont Ever Radiant Cont Heilan Song G.C BSLE Pacific G.C PAC Aries Cont EXPECTED SAILING DATE Commodore 21/05/15 Heilan Song 21/05/15 Ever Radiant 21/05/15 SW Zambesi 21/05/15 PAC ... Read More »

Petrol price likely to increase by Rs 5.80 in June

Karachi: The prices of petroleum products are expected to increase in June, 2015, media reports confirmed. Government may rise per litre price of diesel by Rs. 6.20 and petrol by Rs. 5.80. A staggering Rs. 11 increase may be seen in the price of HOBC. The reason for the price increase is the turmoil in Yemen which has led to ... Read More »

Antarctic ice shelf a few years from disintegration, NASA

LONDON: The last intact section of one of Antarctica’s mammoth ice shelves is weakening fast and will likely disintegrate completely in the next few years, contributing further to rising sea levels, according to a NASA study released on Thursday. The research focused on a remnant of the so-called Larsen B Ice Shelf, which has existed for at least 10,000 years ... Read More »

NASA grants Certification to SpaceX to launch its robotic science missions

MEXICO: It’s official. NASA has formally certified SpaceX’s Falcon 9 rocket to launch all but the agency’s most costly robotic science missions. The first mission for SpaceX will be the launch of a United States and France oceanography satellite that is scheduled for liftoff from California in July. According to George Diller, a spokesperson from NASA, the space agency’s Launch ... Read More »

Tough time for Tata Motors’ Nano: Renault launches $4,700 Kwid in India

CHENNAI: With aim to conquer a big auto market, Renault has launched a new budget car, Kwid, in India. According to Renault Chief Executive Carlos Ghosn, Kwid is “a car for conquest” designed to deliver high-volume sales as the French auto giant tries to increase its share of the Indian market. The Kwid, the first Renault car to have its ... Read More »

Porsche’s Black Edition versions of its 911 Carrera and Boxster getting popularity among fans

BERLING: Porsche introduces Black Edition versions of its 911 Carrera and Boxster. As you can imagine, the Black Edition is first and foremost an aesthetic package, but also comes with more standard features than a normal Boxster or Carrera. Among the added equipment is a Sport Design steering wheel, cruise control, rain sensing wipers, auto-dimming rearview mirror and Porsche Communication ... Read More »

Mazda introduces local pricing for all-new MX-5 convertible sports car

TOKYO: Mazda has introduces local pricing for the all-new MX-5 convertible sports car, with the hotly-anticipated new fourth-generation model priced from $31,990, sharpening the pricing by over $15,000 compared to the outgoing NC model. This puts the MX-5 squarely up against the Toyota 86, with the other budget rear-wheel drive hero still kicking off at $29,990. The MX-5 brings the ... Read More »

Honda Cars recalled CR-Vs and Accords to fix faulty air bag inflator

NEW DELHI: Honda Cars recalled CR-Vs and Accords. The recall is to fix a faulty air bag inflator in both the cars. The company has listed 575 units of the Honda CR-V have a defective passenger side airbag inflator while the 10,805 units of the Accord have a defective driver side airbag inflator. In addition, Honda will also replace the ... Read More »

Pakistan lacks culture of tax compliance: FBR Chairman

Bajwa asks youth to promote tax culture using social media ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Bajwa on Wednesday said that Pakistan lacked a culture of tax compliance and urged youth to work as change agents and promote tax culture in Pakistan. He was addressing a large gathering of students attending a ‘Tax Fair’ organised by FBR at ... Read More »

AJK govt reluctant to clear electricity bills, complains Gepco

SIALKOT: The outstanding arrears of Azad Jammu Kashmir (AJK) government have now increased up to Rs. 6.5 billion and the AJK government has been reluctant to make early payment of these dues to Gujranwala Electric Power Company (Gepco) despite the passage of five consecutive years. According to the officials concerned, Gepco had been supplying electricity to AJK government for the ... Read More »

Pakistan wants to enhance trade, communication links with Turkmenistan: PM

ASHGABAT: Prime Minister Muhammad Nawaz Sharif on Wednesday said Pakistan desired to have enhanced bilateral trade and communication links with Turkmenistan. “Pakistan and Turkmenistan possess rich experience in agriculture, agro-based industry including wheat, rice, textile and food processing. Hence both our countries can mutually benefit from each other’s expertise in these areas,” the Prime Minister said while speaking at a ... Read More »

China-Pak Economic Corridor, a win-win project for both countries: Ahsan

ISLAMABAD: Minister for Planning and Development Ahsan Iqbal Wednesday termed China-Pakistan Economic Corridor (CPEC) a win-win project for both the countries saying that the projects having win-win paradigm always succeed. Talking to a news channel, the minister said the project would prove to be a game changer for bringing economic revolution in the country. He said through this project, Pakistan ... Read More »

SECP issues a show cause notice to Axact Company for ultra vires activities

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) here on Wednesday  issued a show cause notice under Section 496 read with Section 476 of the Companies Ordinance, 1984, to the Axact Company regarding their ultra vires activities which are not authorized by its Memorandum of Association. Though, the main objective of the company were to carry on business of ... Read More »

Govt making all out efforts to overcome energy crisis: Musadiq

ISLAMABAD: Spokesman to the Prime Minister Dr. Musadiq Malik Wednesday said Pakistan Muslim League-Nawaz (PML-N) government was making all out efforts to overcome energy crisis in the country. Talking to a news channel, he said keeping in view the path being followed by the incumbent government, it was hoped that energy crisis would be overcome in the next few years. ... Read More »

President approves summoning of Senate budget session

ISLAMABAD: President Mamnoon Hussain has approved the Prime Minister’s advice for summoning of Budget Session of the Senate on Friday, June 5, at 06:00pm in the Parliament Building. He gave his approval on a summary initiated by the Ministry of Parliamentary Affairs in this regard, said a press release. Read More »

Customs foils bid to smuggle Gandhara-era artefact at Islamabad airport

ISLAMABAD: Pakistan Customs foiled a bid to smuggle Gandhara-era artefact at Benazir Bhutto International Airport (BBIA) and arrested a passenger. Khan Zafar Ali, a Pakistani-origin German national, was carrying eight statues of Buddha. The passenger was booked for Turkey on a private airline but was intercepted and taken into custody after the statues were found in his luggage. The artefacts ... Read More »

SCCI expresses concerns over proposed GICD Cess Bill, 2015

SIALKOT: The Sialkot Chamber of Commerce and Industry (SCCI) has expressed grave concerns over governments’ attempt to pass the controversial Gas Infrastructure Development Cess (GIDC) Bill 2015. SCCI President Fazal Jillani has strongly opposed the decision for passing the bill. SCCI press release revealed that the previous government also passed the GIDC in the Finance Bill 2011 which was challenged ... Read More »

SMEDA holds two-day workshop for textile cluster

PESHAWAR: The Regional Office, Small and Medium Entrepreneurship Development Authority (SMEDA) Khyber Pakhtunkhwa arranged a two-day training workshop for textile cluster of Swat. The workshop conducted three different training programmes following the SMEDA project, Women Business Development Centre (WBDC) Swat. The objective of the workshop was the capacity building and improvement in the technical skills of the textile related SMEs ... Read More »

Experts for introducing tax reforms to increase tax to GDP ratio

ISLAMABAD: Terming Pakistan’s tax to GDP ratio of 9.8 percent as lowest in the region, the speakers here at a policy engagement workshop called for introducing tax reforms and restructuring taxation system for enhancing the revenues of the country. The speakers also recommended rationalising tax expenditures and enhancing greater public investment, especially in power generation and distribution, gas supply, roads ... Read More »

Scholar: Prevailing banking system unjust, lacks social responsibility

ISLAMABAD: Prevailing conventional banking was unjust and exploitative due to lack of social responsibility and it has become a tool of injustice and inequality in society. Dr. Tahir Mansoori, Vice President Higher Studies and Research, International Islamic University Islamabad (IIUI) expressed these views while presiding over a four-day training workshop on “Islamic Banking and Finance” organised by Shariah Academy on ... Read More »