Pakistan News Watch
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National
CM Shahbaz orders judicial inquiry into counterfeit medicine case
LAHORE: Punjab Chief Minister Mian Shahbaz Sharif on Saturday ordered a judicial inquiry into reports of deaths due to reaction from counterfeit medicine supplied by the Pakistan Cardiology Institute (…
President, PM congratulate cricket team over England victory
ISLAMABAD: President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani congratulated the national cricket team over their 72 runs victory in the second test match against England in Abu Dhabi…
PIC medicines claim three more lives in Lahore
LAHORE: At least three more patients, including two in Services Hospital and one in Mayo Hospital of Cardiac Ailments died due to the reaction of counterfeit medicines provided by the PIC, said a spokesman…
PML-N and Like-minded group form alliance: sources
ISLAMABAD: Negotiations between the Pakistan Muslim League – Nawaz (PML-N) and the Pakistan Muslim League (Like-minded) to form an alliance have finally succeeded, sources told DawnNews on Saturday.
MQM to emerge as “largest political party of Pakistan”: Altaf
KARACHI: Muttahida Qaumi Movement (MQM) chief Altaf Hussain on Saturday claimed that his party would emerge as the largest political party of the country.
Arab League suspends Syria observer mission
DAMASCUS: The Arab League on Saturday suspended its controversial observer mission in Syria, a day after the monitors’ chief said killing had spiked this week, with the death toll approaching 200.
SC moved for recording Ijaz’s statement abroad
ISLAMABAD: Akram Sheikh, counsel for the central character of memogate scandal Mansoor Ijaz, on Saturday filed a petition in the Supreme Court seeking permission for sending memo commission aboard to …
Shahbaz responsible for deaths by spurious drugs: Imtiaz
ISLAMABAD: Pakistan People’s Party (PPP) Punjab president Imtiaz Safdar Warraich on Saturday said hundreds of people have died due to spurious medicines in Punjab but the chief minister was worried …
Gilani bemoans ‘trust deficit’ with US
DAVOS: Prime Minister Yousuf Raza Gilani said on Saturday there was “a trust deficit” between Islamabad and Washington as he criticised the resumption of US drone strikes on his country’s tribal…
Strike in parts of Sindh over 20th Constitutional Amendment Bill
KARACHI: A shutter-down strike was being observed in different cities in the Sindh province on Saturday over the 20th Constitutional Amendment Bill, DawnNews reported.
Five dead in poll violence in India’s Manipur state
GUWAHATI: Five people were killed in election related violence in India’s isolated, northeastern state of Manipur, police said on Saturday.
PML-N blasts petroleum minister in Senate
ISLAMABAD: Pakistan Muslim League – Nawaz (PML-N) on Saturday severely criticised Federal Minister for Petroleum Dr Asim Hussain for his prior announcement of increase in petroleum prices and termed…
Memo commission seeks more time for probe
ISLAMABAD: The secretary of a judicial commission formed to investigate the memo scandal in a month’s time has filed an application in the Supreme Court seeking more time for the commission to finish…
Shahbaz pledges action in spurious drugs case
LAHORE: Punjab Chief Minister Shahbaz Sharif has pledged to the nation that strict accountability would be carried out against those responsible for the dozens of deaths that occurred due to the counterfeit…
Two soldiers killed in Kurram blast
KURRAM: A roadside bomb killed two Pakistani soldiers when it exploded in the Jogi area of the northwestern Kurram tribal region, near the Afghanistan border, a local security official said.
Four injured in grenade attack in Karachi
KARACHI: Four people were injured when unidentified assailants lobbed a hand-grenade at a shop in Karachi’s Liaquatabad area on Saturday, DawnNews reported.
US to send floating commando base to Mideast: report
WASHINGTON: The US military plans to send a large floating base for commando teams to the Middle East amid rising tensions with Iran and intensifying fighting in Yemen, The Washington Post reported on…
Sherry says Pak-US ties must be based on “mutual respect”
WASHINGTON: In her first public engagement since assuming office two weeks ago, Pakistan’s ambassador in Washington Sherry Rehman reached out to the Pakistani-American community to seek their support…
France to withdraw from Afghanistan early: Sarkozy
PARIS: President Nicolas Sarkozy said Friday that France would pull its forces out of Afghanistan a year earlier than planned, a week after the killing of four French servicemen by a renegade Afghan soldier…
Sanctions take their toll on ordinary Iranians
TEHRAN: A raft of Western economic sanctions on Iran over its controversial nuclear program are increasingly stifling the lives of ordinary Iranians, hit by rising inflation and growing isolation.
Business & Economy
Economic Indicators
| US Dollar (Buy/Sell) | Rs 85.85 / 85.88 |
| Gold (10gm) | 42,428.00 |
| Gold (Tola) | 49,487.19 |
| KSE-100 Close | 12,361.32 |
More work, less pay in our banks
Information gathered by Dawn reveals that young graduates employed by banks are made to work 12 hours or more every day but no overtime allowance is paid to them in violation of the country’s labour…
Iran to enforce single exchange rate
TEHRAN, Jan 27: The central bank of Iran is to enforce a single exchange rate after a dramatic slide in the value of the Iranian rial on the open market, state
ABC 1st CEO roundtable
KARACHI, Jan 27: The American Business Council of Pakistan (ABC) held its first CEO roundtable meeting on Friday.
US economy expands at 2.8pc
WASHINGTON, Jan 27: US economic growth sped up to 2.8 per cent in the fourth quarter, the Commerce Department said Friday, lower than predicted as consumer spending did not rise as much as expected.
Asian markets mostly up
HONG KONG, Jan 27: Asian markets mostly rose on Friday on tentative hopes Greece will be able to agree a deal with creditors on writing down some of its debt although underwhelming US economic figures…
Karachi Port operations
KARACHI, Jan 27: Three ships carrying containers and to load ethanol and cement are due to arrive at the outer anchorage on Saturday, according to KPT sources.
Subdued trading on cotton market
KARACHI, Jan 27: Subdued trading activity witnessed on the cotton market on Friday as spinners and ginners remained locked in price war amid a no-win situation.
KSE index recovers 76 points
KARACHI, Jan 27: The stock market on Friday staged a modest recovery followed by active short-covering on the blue-chip counters and showed signs that it may be extended by the next week also as pent-…
Conversion rates
KARACHI: The following are January 30, State Bank conversion rates for foreign currency deposits, dollar bearer certificates, foreign currency bearer certificates and special US dollar bonds.
Oil prices trim gains
LONDON, Jan 27: World oil prices rose on Friday, but trimmed earlier gains after US fourth-quarter economic growth fell short of market expectations, analysts said.
Motorcycle industry: NTC to conduct study on tariff protection
KARACHI, Jan 27: The National Tariff Commission (NTC) is conducting a study on the tariff protection to the local motorcycle industry, but the Chinese bike assemblers have some reservations.
Indian trade minister’s visit to improve ties
KARACHI, Jan 27: The process of normalisation of trade relations between Pakistan and India will hopefully move forward with the upcoming visit of Indian trade minister next month, says Tariq Puri, chief…
Draghi, Geithner fuel hopes of taming crisis
DAVOS, Jan 27: European Central Bank president Mario Draghi said on Friday the eurozone had made “outstanding” progress towards resolving the debt crisis as hopes grew for an imminent deal on Greece…
Weeklyinflation surges
ISLAMABAD, Jan 27: Driven mainly by food products, the weekly inflation surged by 7.88 per cent during the week that ended on Jan 26 over the corresponding period last year.
Balochistan: private sector borrowings dip
KARACHI, Jan 27: Balochistan’s economy seems to have stuck up in the last 10 years as the private sector participation in borrowings from the banks dropped contrary to the trends in Sindh and Punjab…
Oldest Swiss bank sold amid US tax dispute
GENEVA, Jan 27: The oldest Swiss bank Wegelin & Co announced on Friday the sale of its non-US activities to fellow Swiss bank Raiffeisen as Wegelin battles with US authorities investigating tax evasion…
Rupee weakens; o/n rates end flat
KARACHI: In the currency market on Friday, the rupee ended at 90.22/27 to the dollar, compared with Thursday’s close of 90.20/25, amid a lack of import payments.
Stocks end up over rising oil prices
KARACHI: Pakistani stocks ended higher on Friday as investors bought energy shares such as Oil and Gas Development Co Ltd (OGDCL) following a rise in international oil prices, dealers said.
Indian rupee up for fourth week; dollar inflows aid
MUMBAI: The Indian rupee gained for the fourth straight week aided by positive local shares and robust dollar inflows, while the outlook remained bullish for the local unit.
Weekly inflation witnesses nominal increase
ISLAMABAD: Sensitive Price Indicator (SPI), for the week ended on January 26, for the lowest income group up to Rs 8,000, has registered increase of 0.11 per cent over the previous week.
Sports
President, PM congratulate cricket team over England victory
ISLAMABAD: President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani congratulated the national cricket team over their 72 runs victory in the second test match against England in Abu Dhabi…
PIC medicines claim three more lives in Lahore
LAHORE: At least three more patients, including two in Services Hospital and one in Mayo Hospital of Cardiac Ailments died due to the reaction of counterfeit medicines provided by the PIC, said a spokesman…
SC moved for recording Ijaz’s statement abroad
ISLAMABAD: Akram Sheikh, counsel for the central character of memogate scandal Mansoor Ijaz, on Saturday filed a petition in the Supreme Court seeking permission for sending memo commission aboard to …
Technology
CM Shahbaz orders judicial inquiry into counterfeit medicine case
LAHORE: Punjab Chief Minister Mian Shahbaz Sharif on Saturday ordered a judicial inquiry into reports of deaths due to reaction from counterfeit medicine supplied by the Pakistan Cardiology Institute (…
PML-N and Like-minded group form alliance: sources
ISLAMABAD: Negotiations between the Pakistan Muslim League – Nawaz (PML-N) and the Pakistan Muslim League (Like-minded) to form an alliance have finally succeeded, sources told DawnNews on Saturday.
MQM to emerge as “largest political party of Pakistan”: Altaf
KARACHI: Muttahida Qaumi Movement (MQM) chief Altaf Hussain on Saturday claimed that his party would emerge as the largest political party of the country.
Arab League suspends Syria observer mission
DAMASCUS: The Arab League on Saturday suspended its controversial observer mission in Syria, a day after the monitors’ chief said killing had spiked this week, with the death toll approaching 200.
Shahbaz responsible for deaths by spurious drugs: Imtiaz
ISLAMABAD: Pakistan People’s Party (PPP) Punjab president Imtiaz Safdar Warraich on Saturday said hundreds of people have died due to spurious medicines in Punjab but the chief minister was worried …