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January 15, 2019 7:43 AM Govt will 'need to take practical steps' if PPP does not bring change to Sindh, warns Fawad

Information Minister Fawad Chaudhry warned on Tuesday that if the PPP is unable to bring change to Sindh and the chief minister does not resign, the Pakistan Tehreek-i-Insaf government "will need to take practical steps". Chaudhry, while speaking to reporters upon arrival in Karachi, explained that the government wants "the PPP to bring change themselves" 15

January 15, 2019 12:00 AM Newmont buys Goldcorp for $10bln

New York: US gold miner Newmont Mining Corporation said in a statement on Monday it was buying Canadian rival Goldcorp Inc for $10 billion, creating the world´s largest gold mining company.Colorado-based Newmont said it would buy all of Goldcorp´s outstanding common shares in a stock-for-stock transaction, acquiring each share for 0.3280 of a Newmont 15

January 14, 2019 12:00 AM Pakistan to send 92 athletes to Special Olympics

KARACHI: A total of 92 athletes, 55 male and 37 female, will represent Pakistan in Special Olympics Summer World Games 2019 to be held in Abu Dhabi from March 8-21. This contingent of Special Olympics Pakistan (SOP) will be participating in 10 sports. They will be accompanied by 27 coaches. Out of 24 sports disciplines, Pakistani players will take part in athletics 15

January 12, 2019 12:00 AM Government raises drug prices up to 15 percent

KARACHI: The government kicked off 2019 with drug prices raised by between 9.0 percent and 15 percent to provide much-needed relief to the local manufacturers after massive rupee devaluation in recent months, an official said on Friday. Drug Regulatory Authority Pakistan (DRAP) said the current increase is due to 30 percent decrease in value of rupee 15

January 11, 2019 12:00 AM Government appoints new MDs of SNGPL and SSGC

ISLAMABAD: The government on Thursday appointed new managing directors (MDs) of the state-run gas companies, including Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC). Amir Tufail has been appointed as SNGPL MD. Before his elevation to the top slot of the company, Tufail was working as deputy managing director at the SNGPL 10

January 10, 2019 12:00 AM SECP warns public against fake entity

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has warned the public against making investment in a fake entity, “Fine Sarmayakari Company”, which has been trying to trap innocent people through social media, a statement said on Wednesday. It has come to the commission’s knowledge that in the name of Fine Sarmayakari Company, an anonymous 18

January 6, 2019 12:00 AM Money laundering case: JIT urges SC to freeze Zardari, Omni group assets

ISLAMABAD: The Joint Investigation Team (JIT) probing into the money laundering and fictitious bank accounts on Saturday recommended to the Supreme Court to freeze all the assets of the former president and the PPPP President Asif Ali Zardari, his sister Faryal Talpur and Zardari and the Omni group. The case pertains to laundering of around Rs220 billion 12

January 2, 2019 12:00 AM Reko Diq, IPPs, Karkey cases: International court fines Pakistan $4 bn

ISLAMABAD: The airports of 60 countries will bar the Pakistan International Airlines (PIA) planes from landing if Pakistan gets behind with paying over $4 billion fine after losing the famous Reko Diq case to an Australian company for extraction of copper and gold in Balochistan. The World Bank’s International Court for Settlement of Investment Disputes 10

December 31, 2018 9:27 AM 11 CPEC projects completed, 11 more 'under construction': report

Eleven development projects of the China-Pakistan Economic Corridor (CPEC) have been completed so far while 11 others are "under construction", Radio Pakistan reported on Monday. Based on the latest progress report on CPEC issued by the Embassy of China in Pakistan on Saturday, around $18.9 billion have been invested in the 22 projects. Twenty more projects 10

December 31, 2018 12:00 AM Omni shifted Rs27 bn from Dubai to other locations

LONDON/ISLAMABAD: A Dubai-based private company owned by Omni Group Chairman Anwar Majeed’s family made transactions worth around Rs27 billion from Dubai to various jurisdictions including around 20 payments of nearly £1 million into the account of the son of former High Commissioner to Britain, according to the Joint Investigation Team (JIT) report 13