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July 20, 2018 4:47 AM Current account deficit rises to $18bn, reserves hit four-year low

KARACHI: Current account deficit (CAD) touched $18 billion in FY18, up 42.5 per cent over the previous fiscal year, the State Bank of Pakistan (SBP) reported on Thursday. Only two years ago, the CAD was at $4.876bn, spiking to $12.621bn the following year, before hitting its record high in 2017-18. The State Bank data released on Thursday showed total

July 20, 2018 12:00 AM Amazon hands goodwill to eBay with move to shut Australians out of overseas sites

SYDNEY: Australian home entertainment installer Paul Boon has relied for years on Amazon.com Inc´s U.S. website for cheap wall racks and other parts to keep his costs down. But Amazon´s recent move to stop Australians from shopping on its foreign websites, due to a new law that requires it to collect taxes, is turning away once-loyal customers like Boon. He´s considering

July 18, 2018 12:00 AM FPCCI’s achievement awards on 20th

Karachi: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) will hold its 6th FPCCI Achievement Awards Ceremony to recognise the services of organisations in different sectors on Friday, July 20, 2018 at the Governor House. President Mamnoon Hussain will be the chief guest as the awards ceremony and will distribute awards to the recipients

July 18, 2018 12:00 AM SECP finalises regulatory regime for valuers

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has concluded its efforts to introduce regulatory regime for registration and governance of professional valuers, an announcement said on Tuesday. The professional valuers are individuals or organisations that appraise the value of assets and collaterals provided to banks and financial

July 18, 2018 12:00 AM ACs among 395 officials reshuffled in Punjab

LAHORE: After getting approval from the ECP, the Punjab government has reshuffled 395 officers including assistant commissioners, officers of local government & community development department, tehsildars and naib tehsildars across the province. According to the notification of Services and General Administration Department (S&GAD) Tuesday, as many as 44 ACs and Section

July 18, 2018 12:00 AM Iraqi police use batons to disperse protesters outside Zubair oilfield

BASRA: Iraqi police wielded batons and rubber hoses to disperse about 250 protesters gathered at the main entrance to the Zubair oilfield near Basra on Tuesday as unrest across southern cities over poor basic services gathered pace. Since demonstrations began nine days ago, protesters have attacked government buildings, branches of political parties

July 17, 2018 12:00 AM More than 594,000 pilgrims apply for performing Haj

Islamabad: The e-portal of the Saudi Ministry of Haj and Umrah has, since it was launched mid Ramadan (May 30), received more than 594,000 applications from citizens and legal expatriates to perform Haj this year. According to the ministry’s sources, only two hours after the e-portal to reserve the seats of the facilitated and low-cost Haj was launched

July 14, 2018 12:00 AM StormFiber launched in Hyderabad

KARACHI: StormFiber strikes twice in a week, launching its services in Hyderabad after Multan, bringing its tally of cities to six, a statement said on Friday. The announcement was made at an event hosted in the city, making its Triple Play (Internet, TV and Phone) services available in Hyderabad, it added. StormFiber was already an established market 4

July 13, 2018 12:00 AM Office memo allowed mly quota in civil services, IHC told

ISLAMABAD: The Islamabad High Court (IHC) Thursday sought 1991 Office Memorandum of Federal Public Service Commission (FPSC) in a case regarding the quota of military officers in civil services. Justice Shaukat Aziz Siddiqui of IHC heard the case regarding quota system in civil services under FPSC. The bench also directed the federation that any senior

July 13, 2018 12:00 AM PTCL, PSEB ink agreement

KARACHI: Pakistan Telecommunication Company Limited (PTCL) has signed a strategic agreement with Pakistan Software Export Board (PSEB) for the provision of Cloud-based services, a statement said on Thursday. Adil Rashid, chief business services officer, PTCL, and Shaukat Ali, CTO, PSEB, signed the agreement, it added. PTCL will offer cloud-based solutions 3