Pakistan News update
News-Update
NEWS UPDATE
Pakistan forex reserves drop to $16.103 bln
May 17th
ISLAMABAD: Pakistan’s foreign exchange reserves dropped to $16.103 billion in the week ending May 11 from $16.416 billion the previous week, the central bank said on Thursday.
Reserves held by the State Bank of Pakistan (SBP) fell to $11.784 billion from $11.978 billion a week earlier, while those held by commercial banks dropped to $4.319 billion from $4.438 billion.
Foreign exchange reserves hit a record $18.31 billion in July last year, boosted by inflows of $411 million, including a $191.9 million loan from the World Bank and a $196.8 million loan from the Asian Development Bank.
Higher exports and record remittances have also More >
Pakistani stocks drop; rupee, o/n rates flat
May 17th
File photo show a trader on the floor of the Karachi Stock Exchange.—Reuters Photo
ISLAMABAD: Pakistan stocks fell for a second day running on Thursday with confidence hit by two days of consecutive net selling by foreign investors and concerns about regional markets, analysts said.
The Karachi Stock Exchange (KSE) benchmark 100-index ended 0.13 per cent, or 17.99 points, lower at 14,063.08 on volume of 103.3 million shares.
“The mood in the market was dull because of concerns that other markets in the region aren’t doing so well, and also because of selling by foreign investors for the last two days,” said Atif More >
Rawalpindi ATC adjourns Maulana Abdul Aziz case hearing till May 23
May 17th
Staff Report
RAWALPINDI: A special Anti-Terrirism Court of Rawalpindi today adjourned hearing of a murder case against Lal Masjid’s Khatib, Maulana Abdul Aziz till May 23, CNBC reported on Thursday.
Rawalpindi’s special ATC Judge Shahid Rafiq conducted hearing of a rangers’ murder case this day against 19 accused including Khatib of Lal Masjid, Maulana Abdul Aziz.
The court took stern notice of the absence of a key witness of the prosecution, constable Gul Sher, and issued his arrest warrant. The ATC instructed the SHO of Abpara Police Station to make sure appearance of the witnesses before the court on next hearing. CNBC
More >July-April c/a deficit increases to nearly $3.4 billion
May 17th
There was a provisional surplus of $466 million in the first ten months of the previous fiscal year, according to data released by the State Bank of Pakistan.—File Photo
ISLAMABAD: Pakistan’s current account deficit widened to a provisional $3.394 billion in the first 10 months of the 2011/12 fiscal year from $3.081 billion in the first nine, the central bank said on Thursday.
There was a provisional surplus of $466 million in the first ten months of the previous fiscal year, according to data released by the State Bank of Pakistan.
The current account had a provisional deficit of $313 million in April More >
In K-P, Rs480m govt ads placed in newspapers over last 4 years
May 17th
Government also paid Rs510 million outstanding dues, says Provincial Minister for Information and Broadcasting. Government also paid Rs510 million outstanding dues, says Provincial Minister for Information and Broadcasting. PHOTO: NNI/FILE
PESHAWAR: Provincial Minister for Information and Broadcasting Mian Iftikhar Hussain on Thursday said the provincial government had released Rs480 million advertisements to different newspapers during the last four years, besides paying Rs510 million outstanding dues.
Talking to the All Pakistan Newspapers Society here, he said the government has a clear and merit based policy for issuance of advertisements to all the newspapers without any discrimination.
He said the government has adopted a very More >
One-year bans likely for ‘rebel’ hockey players
May 17th
Former stars including Shakeel Abbas, Rehan Butt , Imran Warsi and Zeeshan Ashraf could be out of Pakistan’s Olympic squad. – File photo by AFP
KARACHI: The Pakistan Hockey Federation (PHF) indicated, on Thursday, that it may hand one-year bans to the eight players involved in World Series Hockey (WSH).
PHF has said that all the players who signed the board’s contract after March 31, 2012 could be given a one-year ban for opting for the rebel league, DawnNews reported.
Senior members of the Pakistan hockey team, including Rehan Butt, Zeeshan Ashraf and Shakeel Abbasi, among others, participated in the Indian rebel More >
Hockey players, management visit Data Ganj Bakhsh’s shrine in Lahore
May 17th
Staff Report
LAHORE: The players of national hockey team and management paid visit to Data Ganj Bakhsh’s shrine in Lahore today, CNBC reported on Thursday.
The national hockey team is set to leave soon for Azlan Shah Hockey Cup, Malaysia. Prior to departure for the tournament, the team and its management paid visit to shrine of Hazrat Ali Hajveri, popularly known as Data Ganj Bakhsh in Lahore.
They performed Nafals (optional prayers to please God) and prayed for the success of team in the upcoming tournament at the shrine.
National hockey team’s coach, Akhtar Rasool, said on the occasion that the team is More >
UN rights chief to make first visit to Zimbabwe
May 17th
HARARE: United Nations human rights chief Navi Pillay will visit Zimbabwe next week as President RobertN Mugabe seeks to dispel charges that Harare is a major rights violator.
Pillay will be the first U.N. rights chief to visit the country and was invited by Mugabe’s government, which in 2009 expelled Manfred Nowak, a former U.N. rights investigator.
The West has imposed sanctions on Mugabe and his allies, accusing them of election violence and using state security agents to beat up and detain opponents.
Analysts say Harare has invited Pillay because of a lull in political tension and a drop in rights abuses following More >
Chanderpaul survives as Windies struggle
May 17th
England’s James Anderson (3rd L) celebrates taking the wicket of West Indies’ Kieran Powell. -Photo by AFP
LONDON: Shivnarine Chanderpaul rode his luck but the West Indies still found life difficult as they struggled to 146 for four at tea on the first day of the first Test against England at Lord’s here on Thursday.
Chanderpaul, officially rated the world’s best Test batsman, was 42 not out having seen an lbw appeal reversed in his favour when on 15.
Marlon Samuels was unbeaten on 14, having so far helped left-hander Chanderpaul add 46 for the fifth wicket against the world’s number one ranked More >
Motor racing-I was so scared for my team, says Maldonado
May 17th
BARCELONA: Pastor Maldonado spoke on Thursday of how he had feared a tragic ending to his astonishing Spanish Grand Prix success in Barcelona last weekend.
The Williams garage caught fire at the Circuit de Catalunya as members of the Formula One team, including wheelchair-bound principal and founder Frank Williams, had gathered for a victory photograph.
“At that moment I was so scared for all of us,” said Maldonado, the first Venezuelan to win a race and a 500-1 long-shot before sensationally putting his car on the front row in qualifying.
“I think we were so lucky because we had no big damage and More >
