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October 13, 2018 12:00 AM WWF-Pakistan, Careem initiate mangrove plantation

KARACHI: As part of the Rung Do Pakistan campaign, the WWF-Pakistan and the Careem launched a mangrove plantation drive at Sandspit on Friday. Under this initiative, 180,000 saplings will be planted in the coastal belt of Pakistan. The initiative will not only help restore the lost mangrove forest cover but will also build resilience of the local communities 2

October 11, 2018 12:00 AM Remittances up 13.14pc to $3.419bln in 1Q

KARACHI: Remittances from overseas Pakistani workers rose 13.14 percent in the first quarter of current fiscal year, mainly on the back of strong economic and job market growth in the major contributing countries and devaluation of rupee, the central bank data showed on Wednesday. The figures released by State Bank of Pakistan (SBP) revealed remittances 1

September 30, 2018 12:00 AM Boxing: ’Slumdog’ Tyson laments lack of personalities in the game

MUMBAI: The current generation of boxers do not have the wild streak that Mike Tyson wore like a badge of honour during his career and the former world heavyweight champion says the lack of personalities in the sport has contributed to its decline. Tyson, who was in Mumbai to promote the launch of the Kumite 1 League mixed martial arts competition, told reporters

September 28, 2018 12:00 AM Urea off-take down 8 percent, DAP sale up 11 percent in Jan-Aug

KARACHI: Urea off-take fell eight percent to 3.656 million tons in the first eight months of the current calendar year, while sale of diammonium phosphate (DAP) rose 11 percent to 1.063 million tons during the same period, a brokerage reported on Thursday. Overall, fertiliser sales declined six percent to 5.67 million tons in the January-August period 1

September 6, 2018 12:00 AM Heavy tax by Afghan govt: Transporters continue wheel-jam strike

PESHAWAR: The transporters on Wednesday continued wheel jam strike against the levy of exorbitant taxes on goods transportation to Afghanistan and asked the Afghan authorities to withdraw the increase on the tax. The transporters have been staging a protest near the Haji Camp in Hayatabad for the last two months to force the Afghan authorities to stop receiving 1

September 5, 2018 12:00 AM Microfinance sector registers modest growth

LAHORE: Microfinance sector of Pakistan has registered modest growth during the second quarter ended June 30, 2018 with 6.6 percent growth in overall gross loan portfolio (GLP) to Rs239 billion from the previous quarter of Rs224 billion. According to MicroWatch, a quarterly update on microfinance outreach in Pakistan released by Pakistan Microfinance 1

September 2, 2018 12:00 AM Drought puts Iraq at risk of militancy

BAGHDAD: Iraq risks a jihadist resurgence if it fails to tackle a critical drought and other climate-related security issues, according to a study presented to the UN Security Council and made public Saturday. “The combination of its hydrological limitations, increasing temperatures and extreme weather events puts pressure on basic resources and undermines

July 21, 2018 12:00 AM Tax abolition on cotton import urged

KARACHI: Opposing customs duty and other levies on import of raw cotton, the Karachi Cotton Association on Friday said the country needed at least four million bales due to the shortage of the commodity. KCA Secretary Aftab Alam expressed concerns over the decision of the government to impose three percent customs duty, two percent additional customs 8

July 20, 2018 12:00 AM Caretaker setup shows lack of control over currency regime

LAHORE: The interim government’s seemingly lost control over the currency regime is being ignored, as all political parties are busy slinging mud on each other that is further damaging the already weak economy of Pakistan. Rupee traded at Rs110 against dollar when the caretaker government was sworn in; however, in less than 50 days the value has dropped 4

July 20, 2018 12:00 AM Instability leads to $11.8m decrease in FDI

KARACHI: Amid the uncertainty prevailing in the country, there has been a decline in foreign direct investment (FDI), which has severely damaged the national economy. According to the figures released by the State Bank, the FDI witnessed a decrease of $11.8 million in the last financial year ending on June 30. The last few years saw a constant trend 11