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May 18, 2018 12:00 AM Bank officer remanded in fraud case

LAHORE: An accountability court Thursday granted 11 days physical remand of a Vice-President, Foreign Exchange Department of National Bank of Pakistan Usman Saeed, an accused arrested by the NAB on the charges of embezzling billions of rupees. As per NAB, the bureau had been digging into the embezzlements worth billions of rupees allegedly being committed 1

May 18, 2018 12:00 AM SBP renews JCR-VIS, PACRA status

KARACHI: The central bank on Thursday renewed the status of both the credit rating agencies operating in Pakistan, JCR-VIS Credit Rating Company Limited (JCR-VIS) and The Pakistan Credit Rating Agency Limited (PACRA), as eligible External Credit Assessment Institutions (ECAIs) for the calendar year 2018, a statement said. Banks and development finance 1

May 14, 2018 12:00 AM Kvitova prevails to claim record third Madrid title

MADRID: Petra Kvitova outlasted the unseeded Kiki Bertens to win a thrilling Madrid Open final on Saturday 7-6(8-6) 4-6 6-3 and become the first player to lift the trophy for a third time. Czech Kvitova, ranked 10th in the world, struck the first blow in a tense match which lasted two hours 52 minutes by edging the tie-break at the end of a gruelling 1

May 13, 2018 2:35 PM Muhammad Ali Jinnah Park opened in Canada's Winnipeg

WINNIPEG, Canada: Pakistan’s High Commissioner to Canada, Tariq Azim Khan, has inaugurated the first ever Muhammad Ali Jinnah Park at Winnipeg, Manitoba on Sunday. Addressing on the occasion, the high commissioner said that credit goes to the vibrant Pakistani-Canadian community in Manitoba for succeeding in naming of first ever Public Park in North 5

May 9, 2018 12:00 AM Ghandhara Nissan pays in yuan for Chinese imports

KARACHI: Automaker Ghandhara Nissan Limited (GNL) imported three million yuan of trucks from China by settling the trade transaction in renminbi in its maiden deal with a Chinese bank based in Pakistan. Bank of China Limited Pakistan (ICBC), which opened the LC for truck imports from China. “We had a CNY (Chinese Yuan) LC established through ICBC during 6

April 29, 2018 12:00 AM PML-N under Nawaz leadership served people selflessly: Shahbaz

LAHORE: Punjab Chief Minister Punjab Shahbaz Sharif on Saturday said the PML-N government under the leadership of Nawaz Sharif served the people selflessly, adding that the current four-and-a-half-year term was the best period of development and progress in the country. He was addressing the parliamentarians from Faisalabad and Gujranwala divisions at Model 8

April 29, 2018 12:00 AM Why is Bangladesh’s economy booming?

ISLAMABAD: Bangladesh has become one of Asia’s most remarkable and unexpected success stories in recent years. Once one of the poorest regions of Pakistan, Bangladesh remained an economic basket case — wracked by poverty and famine — for many years after independence in 1971. In fact, by 2006, conditions seemed so hopeless that when Bangladesh registered 12

April 22, 2018 12:00 AM 17th Sindh Games: Medals galore as Karachi clinch winners’ trophy

KARACHI: Karachi ensured the winners’ trophy when they took an unassailable lead in both the men’s and women’s section on the penultimate day of the 17th Sindh Games being held here at different venues on Saturday. Till the filing of this story, in men’s section Karachi were leading with 37 gold, 13 silver and 5 bronze. They were followed by Hyderabad 3

April 21, 2018 12:00 AM SBP proposes tax cut on transactions

ISLAMABAD: The State Bank of Pakistan (SBP) has asked the government to slash the advance tax from 0.3 percent to 0.1 percent for filers on cash withdrawals from banks exceeding Rs 50,000, and abolish the Super Tax in the upcoming budget 2018-19. The SBP has referred to sections 231 A and 231 AA of the Income Tax Ordinance pertaining to the withholding 6

April 19, 2018 12:00 AM War on terror: 1,655 cops sacrificed lives in KP

PESHAWAR: As many as 1,655 officers and jawans of Khyber Pakhtunkhwa police have sacrificed their lives in line of duty during the long years of war against terror and till the 1st quarter of the year 2018. Capital City Police rendered more sacrifices than the cops of other districts in the war against terror. It lost 458 cops till the end of March last, an official 5