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July 15, 2018 12:00 AM Railways police confiscate 29 bags of betel nuts

LAHORE: Lahore Railways Divisional Superintendent Sufyan Dogar carried out an operation and caught 29 bags of betel nuts. The bags were transported from Quetta to Lahore. The culprits were charged heavy fine and handed over to Railways police. The Inspector General Railways police said to increase the security of people and to maintain the check and balance

July 14, 2018 12:00 AM Firms urged to chip in for building dams

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) while complementing the initiative of the Supreme Court of Pakistan has issued a circular to encourage companies to contribute to the cause of building dams. The SECP has motivated companies that as part of corporate social responsibility (CSR), this initiative will go a long way in resolving 1

July 12, 2018 12:59 AM Trade gap hits record $37.7bn

ISLAMABAD: Pakistan’s trade deficit widened to an all-time high of $37.7 billion in the outgoing fiscal year, contributing to the rising current account deficit of the country. The deficit soared almost 16 per cent during the 2017-18, posing a serious challenge for the government to control the menace of rising current account deficit, according to official 1

July 12, 2018 12:00 AM Bahrain’s economy shrinks in Q1 as oil production sags

DUBAI: Bahrain´s economy shrank on an annual basis in the first quarter of 2018 for the first time in at least seven years, hit by a fall in oil production, data from the official statistics agency showed on Wednesday. The figures may increase concern about the health of Bahrain´s economy as it struggles with a current account gap and a large state budget 1

July 12, 2018 12:00 AM Auto sales surge 21pc to 258,632 units in FY2018

KARACHI: Auto sales surged 21 percent to 258,632 units during the last fiscal year of 2017/18 as low-cost financing boosted demand of cars, light commercial vehicles, vans and jeeps, brokerage reported on Wednesday. Brokerages, citing industry data, said auto sales stood at 213,118 units during the previous fiscal year of 2016/17. Daniyal Adil, an analyst 7

July 10, 2018 1:47 PM Wapda officials to donate money from their salaries for construction of dams

All officers of the Water and Power Development Authority (Wapda) will donate their two-day salary, while officials from BPS 1-16 will contribute one-day salary to the Diamer-Basha and Mohmand Dam Fund, the authority announced following a top-level meeting on Tuesday. The meeting, which was presided over by Wapda chairman retired Lt Gen Muzammil Hussain

July 8, 2018 12:00 AM Punjab minister donates Rs20m for Multan agri varsity

MULTAN: The caretaker Punjab Minister for Food and Agriculture Sardar Tanveer Ilyas Khan has announced a donation of Rs20 million from his own pocket for the Multan Agriculture University. The caretaker minister who himself is a leading businessman of the country made the announcement during his visit to the university, says a press release. Sardar Tanveer

July 8, 2018 12:00 AM Weinstein Co sales price increased

NEW YORK: The Weinstein Co, its buyer and creditors on Friday said they reached a deal to increase the bankrupt film studio´s sales price by $2 million, to $289 million, to ensure the deal goes through. Robert Del Genio, a senior managing director of business advisory firm FTI Consulting who is serving as Weinstein Co´s chief restructuring officer, said in statement 1

July 8, 2018 12:00 AM Iranian oil minister calls Trump’s order to OPEC insulting

LONDON: Iran´s oil minister on Saturday accused U.S. President Donald Trump of insulting OPEC by ordering it to increase production and reduce prices, adding that Iranian output and exports had not changed as a result of U.S. pressure. Trump on Wednesday accused the Organization of the Petroleum Exporting Countries of driving fuel prices higher, and urged 1

July 7, 2018 12:00 AM No one gains in a trade war, Chinese PM says

SOFIA: No one will gain from a trade war, Chinese Premier Li Keqiang said on Friday, speaking hours after the United States and China slapped tit-for-tat duties on $34 billion worth of the other’s imports. “Trade war is never a solution,” Li said at a news briefing with Bulgarian Prime Minister Boyko Borissov in Sofia before a summit with 16 central 1