BTC TO PKR, 21 Aug: Today 1 Bitcoin Rate in Pakistan
Some news you may have missed out on part 33.
-‘Project is ready’: Minister says govt going to build ‘Pakistan University of Media Sciences’ Information Minister Fawad Chaudhry on Monday announced the government plan to build a varsity titled ‘Pakistan University of Media Sciences’. He underlined that the project of the university was ready in first 100 days of the incumbent government. In a twitter message this morning, Mr. Chaudhry said: “Alhamdolillah Pak University of media sciences project is ready in first 100 days of PTI Govt, this ll be our biggest contribution to Pak media industry.” -GB govt approves weather allowance for employees The Gilgit-Baltistan (GB) government has approved the provision of weather allowance to the government employees from November-February. The GB Finance department in a letter to the AG Office directed payment of weather allowance to the employees in November salary, an official press release said here on Monday. The department has released Rs471 million budget under the head of the weather allowance to the employees. It is pertinent to mention here that the last government had abolished the said weather allowance. -Pakistan Railways comes up with a major project The government is embarking upon a major project of laying a new double rail track from Karachi to Peshawar. Sheikh Rashid said that two new freight trains and Rehman Baba Express train will be launched on the 25th of next month. -Pakistan and Malaysia agree to enhance cooperation in defence sector Pakistan and Malaysia have agreed to promote mutual cooperation and defense ties to further strengthen their relations. -Finding home in a foreign land: German photographer falls in love with the streets of Pakistan Your daily "please love us whites" article. This one is a good read. -Digital Currencies in Pakistan: State Bank of Pakistan issues important instructions The State Bank of Pakistan has declared the digital currencies, tokens and coins as illegal, advising all concerned and general public to report those making transactions in digital currencies or coins to the Financial Monitoring Unit of the bank. The central bank issued a circular declaring that all digital currencies and coins including Bitcoin, Litcoin, Pakcoin and other are not legal tender thus are illegal. HEALTH - Islamabad to get 200-bedded hospital with Saudi support: minister A delegation from Saudi Arabia led by Abdullah Al Shoebi called on Federal Minister for National Health Services Aamer Mehmood Kiani today to discuss construction of 200 bedded hospital in Islamabad with support of the Saudi Government. The minister informed that the premises has been secured and is ready for construction to start. Federal Minister National Health Services was briefed that the 200 bedded Islamabad General Hospital at Tarlai will be established at a total cost of Rs.2499.993 (million) on land measuring 13.07 Acres. -Federal Information Commission launched by PTI government Information Minister Chaudhry Fawad Hussain says the Right to Information act will help bring transparency in the country to curb corruption. He was addressing a ceremony in Islamabad on Monday in connection with launch of Federal Information Commission for implementation of Federal Right to Information Law. He said the law will help journalists to seek information on various issues from the government departments. Each government department will be obliged to give information in ten days. If it does not comply, the case will be sent to the relevant Commission. -Import of gold down by 12.8pc in four months The import of gold in the country during the first four months (July-October) of the current fiscal year witnessed a decrease of 12.86 per cent as compared to the same period of the previous year. During the period under review, 165kg gold, worth $6.443 million, was imported against the import of 186kg gold, worth $7.394 million, in July-October 2017-18, according to the latest data released by Pakistan Bureau of Statistics (PBS). -PM Imran Khan announces huge development and welfare package for erstwhile FATA Prime Minister announced various welfare packages in the fields of health, education, employment and administration for the newly established districts of erstwhile FATA . PM announced 3 % of NFC share by all provinces for merged districts, early conduct of Local Bodies and Provincial Elections to ensure transfer of power to grass root level. He also announced Police Reforms and resolved to address all concerns of Levies and Khasadars by ensuring their jobs security. The Prime Minister announced system of Dispute Resolution Council (DRC) to ensure speedy justice and resolution of all issues through consultation. Imran Khan announced Medical College along with Hospital for North Waziristan District and South Waziristan District, University for North Waziristan District, Army Cadet College for North Waziristan District, health Insurance Cards to residents of merged districts, tele-medics system to fulfill deficiencies of specialist doctors. He also announced mega share from jobs for merged districts as offered by Qatar. -Pakistan provides free heart treatment to visiting Sikh pilgrim Pakistan on Monday provided free of cost heart treatment to a visiting Sikh pilgrim on humanitarian ground. 63-year-old Ratan Singh from India was rushed to Rawalpindi Institute of Cardiology Hospital when he suffered a cardiac arrest at Gurdwara Panja Sahib, Hassan Abdal. The doctors successfully conducted angioplasty on the ailing pilgrim, who is now recovering. -President Dr. Arif Alvi has invited UAE businessmen to take benefit from vast opportunities of investment in Pakistan in various sectors, especially tourism. The President stressed that that efforts must be made to further enhance bilateral trade to commensurate with its actual potential. -For the first time in history Islamabad Police issued driving licence to transgender person Following in the footstep of the Khyber Pakhtunkhwa (KP) government, the Islamabad Police has issued a driving license to a transgender person. On Monday, Alia Layla became the first certified transwoman driver in the capital territory Islamabad after passing all practical driving tests. -IDEAS 2018: Largest ever Defence Expo in Pakistan with 262 delegations from 51 countries The four day 10th edition of International Defence Exhibition and seminar, IDEAS '18 have commenced. Prime Minister Imran Khan is expected to inaugurate it. Five hundred twenty exhibitors from fifty countries including Pakistan will showcase their defence products in the exhibition. He said besides trade visitors, more than 262 high-level delegations from fifty-one countries including China, Russia, USA, France, Germany, Turkey, Poland, South Korea and host Pakistan are also all establishing their exclusive country pavilions at the EXPO center. -PM Imran says Pakistan has unlimited potential for developing eco-friendly tourism Prime Minister Imran Khan has said that Pakistan has unlimited potential for developing eco-friendly tourism. Imran Khan took to Twitter sharing pictures of Karachi beach and snow covered mountains in the north saying, "From our beaches in the south to Fairy Meadows in the north, and the rich history of our Land, Pakistan has unlimited potential for developing eco-friendly tourism." The Prime Minister asserted that this is a commitment we are determined to fulfill God Willing. -‘Pakistan provides conducive business environment to foreigners’ President Dr Arif Alvi said on Monday that Pakistan provided foreigners with a conducive environment for investment and hoped that investors from different countries would avail from the abundant opportunities that the country offers. The president made these remarks while talking to envoys-designate of Thailand, Sri Lanka, Austria, Canada, Spain and Jordan, who presented their credentials to him in an impressive ceremony at the President House. The president said Pakistan wanted to further strengthen its relations with all friendly countries. He emphasised that regular exchange of bilateral delegations was essential in order to strengthen people-to-people contacts and to forge strong political and economic linkages. HUGE - ExxonMobil set for comeback in Pakistan after nearly three decades: Report After a gap of nearly three decades, ExxonMobil is gearing to re-enter the Pakistani market, as the world’s largest oil and gas company eyes it as an emerging economy with immense potential. According to a report in Business Recorder, well-informed sources in the Board of Investment (BoI) said the company’s Chief Executive Officer (CEO) Irtiza Sayyed considers the Pakistani market as very significant considering its existing and rising quench for energy as it continues its economic growth trajectory. Mr Sayyed in a letter sent to the BoI stated ExxonMobil has been assessing its re-entrance into Pakistan since quite a while and has been assiduously hunting energy-related opportunities for past few years. ExxonMobil has made major strides to re-enter the Pakistani market which included acquiring a 25% stake in offshore drilling in May this year. -Chinese delegation grants Rs3 million each to families of martyred policemen Chinese delegation held a meeting with the families of martyred policemen at Chinese Consulate Karachi and granted Rs3 million cheque each to the heirs. The meeting was arranged on the request of Consul General China. The Chinese delegation offered condolences and expressed deep grief with the families over the loss of their loved ones. They also thanked to both the families for saving Chinese. LOL - PTI government refuse to pay Rs 8 lakh bill for Senator Attaur Rehman cosmetic surgery The Ministry of National Health Services, Regulation and Coordination has refused to pay a medical bill for the weight loss surgery of Senator Attaur Rehman. The brother of Jamat-e-Islami Fazl (JUI-F) chief Maulana Fazlur Rehman underwent a liposuction surgery to remove excess fat from his body around ten months ago at a private hospital in Islamabad, local media reported. When Senate Secretariat sent the medical bill amounting Rs800,000 to the ministry concerned for approval, federal Secretary Captain (retd) Zahid Saeed rejected the bill citing objections on it. The objections on the bill were raised by Deputy Director General Dr. Minhadul Siraj, stating that the liposuction is a cosmetic surgery. He further added why the surgery was held at a private hospital when the Pakistan Institute of Medical Sciences (PIMS) has the same facility. -Russian climbers to arrive in Pakistan for scaling K2, only 8000 metre peak in the World not been scaled in winters Russian climbers are set to arrive in Pakistan in order to scale Nanga Parbat and K2. Three expeditions are expected to attempt to conquer the two peaks. K2 is the only 8000 metre peak in the world that has not been scaled in winters. -India's vice-president lays foundation for Kartarpur corridor Indian Vice-President Venkaiah Naidu on Monday laid the foundation stone for the construction of the Kartarpur corridor which will link Dera Baba Nanak in India to Pakistan’s Gurdwara Darbar Sahib Kartarpur. -Punjab holds potential to become South Asia’s Silicon Valley: Minister Provincial Finance Minister Makhdoom Hashim Jawan Bakht said on Monday that Punjab has the potential to become the Silicon Valley of South Asia. He was addressing a ceremony held to celebrate the first Rs100 billion revenue collection through e-stamping by Punjab IT Board (PITB) and Board of Revenue (BOR). He said with the support of private sector and the formulation of systems like e-procurement and e-payment, the government is committed to placing Punjab at the heart of digital economy. “Despite enormous economic challenges that the government inherited, it is striving hard to achieve maximum economic growth with a low inflation environment. IT interventions are essential and much-needed in all sectors, especially to improve the overall efficiency of the government machinery,” he added. -Asad Umar to chair ECC meeting tomorrow A meeting of the Economic Corridor Committee (ECC) of the Cabinet would be held tomorrow (Tuesday) under the chairmanship of Finance Minister Asad Umar. According to a notification issued by the Cabinet Division on Monday, the finance division would be seeking directions from the government regarding an approval of a GoP guarantee to the National Power Parks Management Company Limited (NPPMCL). -Pak Suzuki mulling to set up second auto plant, manufacture additional 100,000 vehicles a year: report Pak Suzuki Motors is said to have procured 80 acres of land for establishing its second plant and manufacture an additional 100,000 vehicles a year. According to a report in Business Recorder, the total investment as per plan by Pak Suzuki Motors would amount to $460 million and the land has been procured right next to its existing site. The Auto Industry Development Committee (AIDC) is set to meet on Wednesday to deliberate upon the enactment status of the auto development policy. This meeting is focused on reports that Prime Minister’s Adviser on Industries and Production is contemplating to grant Greenfield status to Suzuki’s new plant, as per well-informed sources. Adviser to PM on Industries and Production, Razzaq Dawood is set to inaugurate Suzuki’s 2,000,000 car in Karachi on Monday. Pak Suzuki Motors is planning to introduce four new cars and Suzuki Alto 660CC is expected to replace Mehran 800CC in April 2019. -Pakistan EAC approved loan from World Bank Economic advisory council (EAC) on Sunday gave approval to seek a loan of $42 million from World Bank for the poverty eradication programme announced earlier by Prime Minister Imran Khan, sources said. -5 crore people across 36 districts in Punjab to get Health Cards Provincial Minister for Health Dr. Yasmeen Rashid said on Monday that 50 million people across the 36 districts of the province would be facilitated under Health Card Scheme. -First ever digital city in the history of Pakistan near Islamabad Khyber Pakhtunkhwa IT Board (KPITB) is inviting investors for Pakistan’s first Digital City , to be based out of Haripur, on the outskirts of capital’s Margalla Hills. The plans of Government of Khyber Pakhtunkhwa establishing Pakistan Digital City were announced in October by Special Assistant to Chief Minister KPK, Kamran Khan Bangash. The Haripur site has been selected for its close proximity to the capital city of Islamabad and its newly built airport. The scenic location will provide land with a rich infrastructure to a diverse range of businesses and technology firms on the leasing module. In order to build the Pakistan Digital City in accordance with industry requirements, KPITB has launched a preliminary demand form for investors to gain feedback and requirements from potential investors. -Foreign diplomats shows interest in escalating trade activities with Pakistan akistan can benefit in many ways due to its most exceptional geographical locations, which makes Pakistan a major entrance to the power & energy affluent Central Asian Republics while sharing borders with economic giants such as China, stated the Lahore Chamber of Commerce and Industry (LCCI) President Almas Hyder. LCCI president, Hyder also emphasized on the fact while addressing a 27-member delegation, including foreign diplomats from West Africa, Azerbaijan, Iraq and many other countries, that Pakistan offers an express link to the Central Asian Republics and China. Also, Pakistan is expected to turn into the trade and energy corridor to these countries in near future. He also expressed that the Belt and Road proposal has already initiated the basis for a better trade, and CPEC is the leading stone towards the transformation of this dream into veracity. He also highlighted, that “Pakistan is a country with prosperous and miscellaneous economic base. Its economic actions range from agriculture-based raw material to aircraft manufacturing.” Part 26 Part 27 Part 28 Part 29 Part 30 Part 31 Part 32
-Public servants must give up foreign nationalities or job, rules SC The Supreme Court on Saturday directed the authorities concerned to set a deadline for dual nationality holders to either rescind their foreign nationalities or resign from their job immediately. Headed by Chief Justice Mian Saqib Nisar, a three-judge bench of the apex court announced its judgement in a case pertaining to public servants holding dual nationalities. It directed the authorities to develop criteria and standard operating procedures (SOPs) requiring disclosure of intent to seek such foreign nationalities and permanent residence permits and adopt methods to check such instances and enforce penalties for no-disclosure. -Pakistan has been elected as the Vice President and the Rapporteur of the Conference of Parties (COP) to the United Nations convention on climate change Pakistan has been elected as the Vice President and the Rapporteur of the Conference of Parties (COP) to the United Nations Framework Convention on Climate Change, at COP 24 in Katowice, Poland. Pakistan was one of the two countries elected to the position from Asia-Pacific Group, by acclamation on December 15, a Foreign Office statement said. The other bodies in which Pakistan secured seats included the Executive Board of Clean Development Mechanism (CDM), Standing Committee on Finance (SCF), Adaptation Committee (AC), Consultative Group of Experts (CGE), and Technology Executive Committee (TEC). -First ever ATM installed in North Waziristan -COAS confirms death sentence to 15 hardcore terrorists Chief of Army Staff (COAS) General Qamar Javed Bajwa on Sunday confirmed the death sentence awarded to 15 hardcore terrorists involved in heinous offences related to terrorism. The terrorists who were tried and awarded capital punishments by special military courts were involved in attacks on the armed forces, law enforcement agencies, abetting suicide bombers in an attack on Christian Colony near Peshawar, destruction of educational institutions and killing of innocent civilians, according to the Inter-Service Public Relations (ISPR). -Government to help in every possible way for PIA’s revival: minister Federal Minister for Privatization Muhammad Mian Soomro has said that the PTI- led federal government will provide all possible help for the revival of Pakistan International Airlines (PIA), ARY News reported on Sunday. The federal minister visited PIA Headquarters and met CEO of PIA, Air Marshal Arshad Malik to get briefing about the current position of the organization. “Government will help in every possible way for PIA’s revival,” adding it [PIA] is moving in positive direction now. Mr Soomro said government is committed to transform PIA into profitable organization as it was in the past. -Gas supply resumed to CNG sector Federal Minister for Petroleum Ghulam Sarwar Khan on Saturday announced that the supply of Compressed Natural Gas (CNG) was estored in Karachi and Sindh at around 8PM. ddressing media in Karachi alongside Governor Sindh Imran Ismail, the petroleum minister said that the days long crisis will be over as the supply was restored to CNG sector at 8PM. -“Japanese firms to invest in Pakistan’s steel, baby formula milk industries” Adviser to Prime Minister on Commerce, Textile and Industries Abdul Razak Dawood said that officials from major Japanese firms are scheduled to visit Pakistan next month for making investments in country’s steel and baby formula milk industries. Speaking at a press conference, Dawood informed that last month Japanese companies assured to invest in Pakistan during the bilateral trade talks in Japan. He said a delegation of Japanese companies, manufacturing steel and baby formula milk, will be visiting Pakistan after January 15. Moreover, the Japanese government also promised to allocate skill development and technology development funds for small industries in Pakistan, the PM adviser said. -Aleem Khan vows initiate large-scale development projects in Punjab Punjab Senior Minister Abdul Aleem Khan on Sunday vowed to initiate large-scale development projects across the province on emergency basis. Talking to journalists at Punjab secretariat, Aleem Khan said the Pakistan Tehreek-e-Insaf government will soon devise policy to regularize the slums in the province. He said that provision of potable water to every locality is government’s responsibility and added that their party will fulfill all the promises made with the masses. The minister also listen public complaints on the occasion and said that the government will not make any compromise on public issues. He said that 908 complaints have been registered so far at the public secretariat and added that out of 815 complaints had been addressed. -CPEC to increase Pakistan GDP growth by 3% Muhammad Saleem Acting High Commissioner (HC) of Pakistan while speaking at Belt and Road Initiative (BRI) conference arranged by Carleton University said through CPEC Pakistan will become an energy secure country and its GDP growth will increase by 2-3pc. He said early harvest energy and infrastructure projects, created 40,000 local jobs and the new projects will usher into an era of development and prosperity. Speaking on the occasion, Chinese Ambassador to Canada, Mr. Lu Shaye said that BRI is not a geo-political tool but it is a new approach to international development and prosperity and it aims to advance economic and trade coordination among regional countries. A large number of academics, diplomats, media persons, businessmen and students attended the conference. -Yet another mini budget on cards from PTI government Yet another mini budget is on cards from the PTI government in a bid to bridge the gap of the increasing revenue shortfall. Federal government is considering major revenue measures including raising the GST rate on POL products, slapping tax on the telecom companies, reversing the tax relief for salaried class by 50 percent and increasing the tax rate on cigarettes by reviewing the existing third tier taxation system. The jacking up of additional custom duty by 1 percent is also among the proposals floated by the FBR to achieve the revenue targets. The Federal Minister for Finance Asad Umar is currently visiting abroad so after his return the government could take final decision on finalising additional revenue measures to bridge the yawning revenue shortfall within the next couple of weeks. -In a historical move, Smart Cards replace old registration books in Punjab Punjab government starts issueing smart cards as replacement of vehicle registration books from tomorrow to facilitate the citizens. According to sources at Punjab Excise Department , all arrangements for the new registration system have been finalized. The source said the machines procured for the smart cards can prepare nearly twenty-two thousand cards daily. -PM Imran Khan issues stern instructions to FIA, crackdown on cards across country in next 24 hours Prime Minister Imran Khan on Sunday has issued stern instructions to the Federal Investigation Agency (FIA). FIA has been ordered to keep its offices 24 hours open in Karachi while teams were formed for action against bitcoin and sell of illegal cards of foreign tv channels. Earlier on November 30, Prime Minister Imran Khan had directed the concerned authorities to finalize a new legislation to effectively deal with the offences related to money laundering. -Russia expresses desire to enhance trilateral partnership with Pakistan, China Alexey Y Dedov, the ambassador of the Russian Federation in Pakistan, hailed the move of the South Asain giant to open the Kartarpur Corridor for Sikh pilgrims in India. According to details, the envoy, speaking at Pakistan Institute of International Affairs on the topic of “Russia’s Stabilising Role in South Asia”, stated that Pakistan’s decision of opening Kartarpur border shows the country’s commitment towards peace and stability in the region. He further appreciated Pakistan’s military crackdown against militants present inside its border under the operations of Radd-ul-Fasaad and Zarb-e-Azb. -Canadian diplomats laud Pakistan as attractive tourist destination A ten-member delegation of Canadian Embassy Islamabad Saturday visited the archaeological sites in Takhtbhai and evinced keen interest in the historical remains of Gandhara civilization. The members of the delegation in their comments on the occasion held Pakistan an attractive tourist country. Pakistan is a peaceful country and its people are peace loving and hospitable, they added. -Pakistan Railways announces to launch VIP trains across Pakistan Pakistan Railways minister stressed that steps are being taken to improve the standard of Pakistan Railways and to provide maximum relief to the people. “New passenger and freight trains will be inaugurated soon including a new train between Lahore and Rawalpindi,” he announced. Sheikh Rashid invited the private sectors to contribute in the development of railways, adding that VIP trains will be launched soon with the collaboration of private partners. -Pakistan emerging as favourite tourist destination for French and European tourists Pakistan is emerging as favourite and preferred tourists destination for French and European tourists, it has been revealed. More and more French and European tourists are opting for Pakistan as a ‘preferred destination’ for tourism purpose, Radio Pakistan reported. According to details, the representatives of the top tour operators of France called on Ambassador of Pakistan to France Moin ul Haque in the French capital for a debriefing session. The representatives of French tour company recently visited Pakistan in September on a two-week long trip. They prepared their separate presentations to brief the Pakistani ambassador about their journey which gave them first-hand experience of tourism potential of Pakistan. -Russia to support Pakistan in economic challenges: Ambassador hints at renewed pledge Ambassador of Russia , Mr. Alexey Dedov has expressed Russian desire to enhance economic ties with Pakistan. The Ambassador of Russia remained with the Governor Sindh for sometime and discussed matters pertaining to mutual interests particularly on partnership in economy, trade and finance. The Ambassador said that Russia welcomes the determination of Pakistani Government to promptly respond to economic challenges of the Country and energy crisis. -For the first time in history, Pakistan and Hollywood to come up with an interesting joint venture Paksiatni directors and Hollywood filmmakers are collaborating for the very first time in history. The acclaimed filmmakers from the East and the West are working together on a supernatural thriller titled Djinn. A new production house ‘Wingman Films’ is going to mark an entry with this multicultural concept venture. Pakistani producer Ali Murtaza, who is also working on "The Legend of Maula Jatt" these days, shared the details of upcoming venture Djinn saying that the movie will be based on a 17-year-old hero from Pakistan’s northern areas who will be struggling to recover ‘lost stones’ and keep the world from being taken over by djinns. Due to this reason, the show will be featuring episodes from the US and China in its first season. -PM may set up poverty alleviation unit at his office Prime Minister Imran Khan may set up a poverty alleviation unit at his office, to be headed by a special assistant, for implementing a new broad-based strategy to pull millions of people out of poverty. About 16 government and semi-government organisations will liaison with the office of special assistant on poverty alleviation and social protection, said sources in the PM Office. -Govt finalises 5-year tariff policy Adviser to Prime Minister on Commerce, Textile and Industries Abdul Razak Dawood has announced that the government has finalised a five-year national tariff policy aimed at restricting duties on raw material and machinery imports for export-based industries. “We are making efforts to rationalise certain taxes and regulatory and customs duties,” he said. “At present, there exists roughly 34 different taxes and the government is planning to reduce them to 12 or eight in the next couple of years.” It would assist the leadership to remove a key impediment in the way of ease of doing business, the adviser emphasised, adding that he was well aware of the challenges faced by the business community regarding tax slabs and tariff lines. -Number of taxes to be reduced from 34 to eight for ease of doing business: Razzak Dawood The business community is suffering a lot in shape of multiple tax slabs and tariff lines. The government is working to rationalize taxes, regulatory and customs duties, Adviser to the Prime Minister on Commerce Abdul Razzak Dawood said while addressing the ‘Emerging Pakistan’ ceremony organized by the Rawalpindi Chamber of Commerce and Industry (RCCI). There are around 34 different taxes and the government is planning to shrink to 12 or eight in next couple of years, he said, adding that this would help in meeting the challenge of one core impediment in ease of doing business. He said that the government had finalized the five-year national tariff policy to bring down tariffs on raw material and machinery imports for export-based industries. -Services exports jump 14.28pc, trade deficit falls 49pc in October The services exports from Pakistan surged by 14.28 per cent to $470 million in October, as compared to the exports during the same month of the previous year. The trade deficit of services also fell sharply by 49.05 per cent during the month as it decreased to $195 million against the trade deficit of $382 million in the same month of previous year, according to latest data of Pakistan Bureau of Statistics (PBS). The imports of services declined by 16.25 per cent to $665 million in the corresponding month as compared to import of $794.02 million in October 2017. Meanwhile, the trade deficit of services during first four months of current fiscal year (2018-19) also shrank by 33.75 per cent as exports increased by 2.13 per cent and imports fell by 15.47 per cent during the period, as compared to the period from July-October of 2017-18. -Govt to promote Pakistan-made furniture at international markets Advisor to Prime Minister on Commerce, Textile and Industrial Production and Investment, Abdul Razak Dawood, Sunday said that the government was taking all possible measures to promote Pakistan-made products at local and international markets and special incentive packages would be given to strengthening manufacturing in furniture sector to boost the exports. The advisor was speaking at the prize distribution ceremony at the concluding day of 3-day “Interiors Pakistan” international exhibition at Expo Center, organised by Pakistan Furniture Council (PFC). Dawood also appreciated PFC Chief Executive Mian Kashif Ashfaq for holding a successful exhibition and said PFC deserved appreciation for promoting the culture of local brands to strengthen the national economy. -Economic revival, industrial boost top agenda of govt: Usman Prime Minister’s Special Assistant on Youth Affairs Usman Dar Sunday said that economic revival and boosting industries were the top agenda of the present government and all-out efforts were being made in that regard. In a meeting of surgical instruments’ manufactures and exporters in Sialkot, Dar said that PTI government was taking the business community and other stakeholders on-board for economic progress and development. Punjab Minister for Special Education Ch Muhammad Ikhlaq, SIMAP Chairman Khalilur Rehman Mughal and Muhammad Jehangir Bajwa were also present. -Govt Likely to Allow More Than One Duty Free Phones for Overseas Pakistanis After facing strong criticism, as well as concerns from the overseas Pakistanis on new mobile import policy, the government is considering revising the policy and may allow at least two duty free phones. -SBP Orders Installation of CCTV Cameras at Exchange Companies to Curb Money Laundering The State Bank of Pakistan (SBP) is planning to tighten the monitoring of exchange companies through CCTV cameras in order to curb money laundering and terror financing in the country. The central bank said that the directives regarding the monitoring of exchange companies are mandatory for continuing their business in Pakistan. -PIA takes multiple initiatives to come out of huge losses Air Marshal Arshad Malik apprised the Aviation Minister about the current management initiatives such as reopening of routes, new destinations being planned to increase the airline’s network, improvement in food service, scheduling, and cost savings. -Pakistan Economic indicators start to take 'u turn' towards positive trajectory: Report Various stats and figures. -Punjab's first Vehicle Registration Card or Digital Vehicle Smart Cards by the Excise and Taxation Department being Printed on site -Pak China Steel Mill inaugurated at Port Qasim A joint venture of Pak-China, Jianbang Group of China and a well-established of Pakistan has installed a first ever pig iron plant at Port Qasim Karachi, which is now inaugurated. The plant is now operational, as per the information the inauguration of this mill has been done on December 2018, there was big presentation of media at the event. The inauguration is done by the Chairman of Jianbang Group, Mr Wu Xianonian, whereas the partner of Pak China Steel, Mr. Lee Feelix as well as the directors Mr. Jam Asif and director Mr. Mustafa Dawood and Head of Marketing Mr. Sheharyar Khan hosted the event, Production capacity of the plant is 8000 tons per month total, at the current the stage company is only producing is 5000 tons. -Islamabad Police To Reward Citizens Over Good Driving Good Citizen Patrol Team will observe the drivers in Islamabad Capital Territory. Islamabad (Pakistan Point News – 15th December, 2018) The Islamabad police will now reward the citizens over following traffic rules. Minister of State for Interior Shehryar Afridi launched the Good Citizen Patrol Team on Saturday. The patrolling team will observe the drivers in Islamabad Capital Territory. Not only that, they will give some reward to the good drivers in Islamabad.
Will I be able to use crypto-currency exchanges like Bittrex and Binance from within Pakistan?
Hi, I will be visiting Pakistan (Karachi), for a few weeks, and I just want to know if cryptocurrency exchanges like Bittrex or Binance are available to visit and use from within Pakistan. I don't intend to trade with any bank or person with bitcoin, I just want to be able to use these sites with no restrictions of any sort, and just trade on them. Also, if someone can tell me in general, how bitcoin and other cryptos are perceived in Pakistan, that would also be helpful. I just hope they are not outright illegal. Thanks.
Hello all my new Bitcoins friends. I live in Karachi, Pakistan and new user to Bitcoin and have the following 2 questions please 1) I have a friend who owes me converted $50,000 USD in PKR which he currently holds overseas. He proposes to first buy Bitcoins equivalent in PKR and then deposit them into my Bitcoin wallte It is my responsibility for converting these Bitcoins in my Meezan Bank personal bank account (denominated in PKR currency only). Could anyone recommend an exchange that will be willing to work with Pakistan national? Not many overseas companies like to deal with Pakistanis for obvious reasons so I would be grateful for any recommendations Also, anyone who has actually done this, please confirm if the exchange would be willing to convert to Pakistan Rupees first before sending into my personal Pakistan account? Or must I first open foreign dollar account? 2) Secondly, when my friend sends me Bitcoins, from my research I understand that the Trezor system is the safest way to hold Bitcoins Is this still correct information as per my understanding? Thanking you all kindly for reading and helping and fellow Bitcoin newbie.
US Equity Futures Slide After Euro PMIs Stumble; China, Crude Plunge
Returning from Thanksgiving holiday, US traders who braved record cold temperatures on their office commute are in a sour mood, with S&P futures sharply lower, following the latest sharp drop in Chinese stocks, where as noted earlier the Shanghai composite lost the 2,600 level, tumbling 2.5% to one month lows after the WSJ reported Trump asked allies to boycott China's telecom giant Huawei. The news dragged Asian shares lower, while Europe was mixed after the latest disappointing PMI which saw German Manufacturing and Services miss expectations, dragging the Eurozone Manufacturing PMI to 51.5, missing expectations of a 52.0 print, a 30 month low and the weakest since print since May 2016, while the composite index tumbled to the lowest level in 4 years in November. Contracts on the Dow, S&P and Nasdaq all pointed lower, after Chinese equities led regional declines in Asia, with the technology sector weak on concern the U.S. is ratcheting up a campaign against Huawei Technologies. The result was a sharp drop in the Shanghai Composite, which slumped to levels last seen in late October, wiping out the recent rally. In European trading, the preliminary PMI data dented hopes of an economic rebound into year end, sparking a rally in bunds and gilts, while 10Y TSY yields dropped to session lows of 3.04% after Thursday’s Thanksgiving holiday. Euribor contracts pushed higher after officials flagged downside risks and data added to nerves ahead of the ECB’s December meeting. Meanwhile in Italy, BTPs printed fresh highs for the week on signs of a budget compromise. European equities were mixed, printing small gains after a steady open, largely ignoring trade war concerns, which weighed on Chinese stocks. Italy's FTSE MIB outperformed peers on renewed deficit discussion optimism and helping local banks rise over 1.5%. Technology and telecommunications stocks pared initial gains as equity gains are tempered by oil oversupply concerns, acting as a drag on energy/basic resources sectors The dollar climbed and the euro reversed earlier gains as data showed German’s growth outlook weakened; the Euro slumped on renewed fears the slowing economy may delay any ECB balance sheet normalization while the pound handed back most of Thursday’s gains. In the latest Brexit news, Tory Brexiteer Iain Duncan Smith stated that the Brexit deal will be killed off by him and his Brexiteer colleagues in Parliament, while he is said to dismiss PM May’s efforts to adopt a tech solution to the Irish border problem and implied it is meaningless, according to ITV’s Peston. Elsewhere, emerging market currencies and shares fell on renewed China trade concerns. Bitcoin declined and is on course to lose more than 20% this week. Meanwhile, in commodities, WTI saw another sharp decline through $53, after energy minister Khalid Al-Falih said Saudi Arabia is producing oil in excess of 10.7 million barrels a day, more than in recent years, giving the strongest indication yet that the kingdom has boosted output to record levels. “We were at 10.7-something in October, and we are above that. We will know exactly when the month is over,” Al-Falih said. That said, he added that “we will not flood the market. We will not send oil that customers don’t need. And we’ve started doing that in December, and I expect we’ll continue doing that into the new year.” The Organization of Petroleum Exporting Countries and allied producers warned earlier this month that oil markets will probably be oversupplied in 2019. Concerns that slower economic growth and a trade war could erode demand for oil are outweighing fears of potential shortages caused by U.S. sanctions on Iranian exports and supply disruptions elsewhere. As a result, WTI has wiped out all modest gains observed in recent days, and was trading back at 1 year lows headed for its 7th weekly drop. Falling energy prices are just one of several indicators that concern investors about the strength of global economic growth. Meanwhile, political turmoil in Europe, lingering uncertainty over a Brexit agreement and a trade war that’s engulfed the world’s biggest economies add to nervousness according to Bloomberg. Slowing growth is one of several prospects in the U.S. that may lead Federal Reserve to more caution in 2019 should they raise rates next month. Elsewhere, base metals decline with LME copper 1% lower. EUR offered after PMIs to trade weakest levels this week, cable declines on broad USD strength. In overnight geopolitical news, North Korea appeared to be expanding operations at its main nuclear site, according to the IAEA, while there were also reports that atomic agency inspectors are said to be demanding North Korea allow nuclear inspectors back into the country amid reactor activity concerns. China is to reportedly resume the purchase of Iranian oil in November after their waiver. Expected data include PMIs. No major companies are scheduled to report earnings. Market Snapshot
S&P500 futures down 0.5% to 2,636.75
STOXX Europe 600 up 0.4% to 353.88
MXAP down 0.05% to 150.61
MXAPJ down 0.2% to 481.05
Nikkei up 0.7% to 21,646.55
Topix up 0.8% to 1,628.96
Hang Seng Index down 0.4% to 25,927.68
Shanghai Composite down 2.5% to 2,579.48
Sensex down 0.6% to 34,981.02
Australia S&P/ASX 200 up 0.4% to 5,716.21
Kospi down 0.6% to 2,057.48
German 10Y yield fell 1.6 bps to 0.354%
Euro down 0.2% to $1.1376
Italian 10Y yield fell 1.6 bps to 3.082%
Spanish 10Y yield fell 1.6 bps to 1.621%
Brent futures down 1.2% to $61.84/bbl
Gold spot down 0.5% to $1,223.00
U.S. Dollar Index down 0.04% to 96.67
Top Overnight News from Bloomberg
Following the weak German PMI figures, the euro-area composite index fell to the lowest in four years in November, denting expectations for an economic pickup after a summer slowdown. Adding to worries, the data also showed that employment and orders growth slowed and companies’ expectations dropped
A Spanish official criticized the inclusion of an article in the Brexit text that his government believes has unacceptably blurred the issue of future talks over Gibraltar
Some countries are frustrated that PM Theresa May is coming to Brussels on Saturday to see European Commission President Jean-Claude Juncker. The last pre-summit meeting of member-state officials is Friday -- and they don’t want anything to change after that
U.S. President Donald Trump and Chinese leader Xi Jinping have indicated they’re both ready for a highly anticipated meeting at the Group-of-20 summit next week. Trump told reporters that China wants to make a deal “very badly” after his administration placed tariffs on on about $200 billion worth of Chinese goods
The Bank of England may need to increase interest rates at a quicker pace than currently envisaged by markets, according to policy maker Michael Saunders. Spare capacity in the economy has been used up, and, assuming Brexit reaches a smooth conclusion, inflationary pressures will probably build somewhat faster than officials predicted in their latest projections, Saunders said Thursday
The Chinese consulate in Karachi was assaulted by militants on Friday in an attack that killed at least seven people in Pakistan’s largest city and financial hub. The incident is the second major attack this year on Chinese officials in Karachi, in a country that is one of the key partners in China’s Belt and Road initiative
With Brexit in sight, Paris should become the next center for the clearing of interest-rate derivatives, said Bank of France Governor Francois Villeroy de Galhau
Shoppers across the U.S. poured into stores for Black Friday at the traditional kickoff of the holiday gift-giving season
A way out of Sweden’s political crisis is closing for the speaker of parliament. After his third pick to form a government threw in the towel on Thursday, speaker Andreas Norlen will need to get creative to break the gridlock caused by Sweden’s inconclusive election more than two months ago. He will hold a press conference at 10 a.m. in Stockholm on Friday
It may take until February or even later for some of Iran’s biggest oil buyers to resume purchases after winning waivers from the U.S. as they seek to resolve complications over insurance, shipping and payments.
Asian stocks traded mostly lower with sentiment in the region subdued by trade concerns and holiday-thinned conditions in the US, while Japan and India also observed public holidays. ASX 200 (+0.4%) was positive with the index supported by strength in its top-weighted financials sector amid gains in Australia’s largest banks after Macquarie pulled-off a rarity at the banking royal commission in which it emerged unscathed and with its reputation enhanced. Elsewhere, Shanghai Comp. (-2.5%) and Hang Seng (-0.4%) were negative amid ongoing trade uncertainty as China responded to the recent trade report by the US, in which it dismissed the accusations of unfair trade practices as groundless and totally unacceptable. In addition, the US called for its allies to stop using Huawei equipment and weak earnings results from Meituan Dianping in which the online service provider’s losses ballooned, further added to the glum. China responded to the recent US report in which it labelled the accusation by the US of China continuing with unfair trade practices as groundless and totally unacceptable, while it added that it hopes US drops rhetoric and behaviour that are damaging to relations. Top Asian News - China’s Capital Controls Keep a Bad Year From Getting Worse - The World’s Best and Worst Markets Are Both in China This Year - China Railway Unit Said to Be Planning 30 Billion Yuan IPO - Apple to Offer Japan Carriers Subsidy to Up iPhone XR Sales: WSJ After opening with little in the way of firm direction amid holiday thinned markets (US, Japan and India), European equities have posted modest gains with the EuroStoxx 50 higher by 0.2%. Leading the charge in Europe is the FTSE MIB (+0.6%) with Italian assets underpinned by optimism that the populist government could reign in some of their budgetary demands with reports suggesting that the EU Affairs Minister Savona could step down from his position (later denied) due to dissent over Italy’s intentions to violate EU budget laws. This also comes amidst a backdrop of increasing pressure from President Mattarella who wants the technocratic PM Conte to get a deal done with the EC, whilst other Italian press report highlight the need for Italy to increase the sincerity of Italy’s concessions to Europe. In terms of sector specifics, upside in Italian banking names has helped spur gains in European financials with the telecoms sector outperforming. To the downside, energy names lag, in-fitting with price action in the complex with crude seemingly unable to stem recent losses. Individual movers include Renault (+4.2%), who have been granted some reprieve from recent losses following a broker upgrade at Jefferies and as Nissan continue to reorganise their corporate leadership. Elsewhere, GEA Group (-14.3%) are lower after cutting guidance whilst Altice (-9.8%) continue to face selling pressure following yesterday’s disappointing market update Top European News
EU, U.K. See Free-Trade Area, Deep Regulatory Cooperation:Draft
German Growth Slows More Than Expected to Four- Year Low
Denmark Wants Danske Whistle-Blower to Explain His Testimony
Ericsson Rises as Goldman Sees ‘Strong Competitive Position’
In currencies, the Dollar has benefited from the aforementioned relative weakness elsewhere, and the index is holding nearer the upper end of 96.394-751 parameters as a result, and on course to end the holiday-shortened week with a net gain, albeit modest having traded up to 96.898 and down to 96.037 at the other extreme. the Euro was not the most discounted major currency on offer, but cut price in wake of considerably weaker than forecast preliminary PMIs from France, Germany and the Eurozone overall. The single currency is now under 1.1400 vs the Usd and has broken the 10DMA to the downside at 1.1356, with fibs now being eyed ahead of 1.1300, while pivoting 0.8850 against the Gbp even though Sterling is also suffering in sympathy and jittery on Brexit issues following initial euphoria due to the UK-EU Political Declaration. CAD/NZD/AUD - Also going relatively cheap and underperforming against their US peer, with the Loonie back below 1.3200 amidst an even steeper slide in crude prices ahead of Canadian CPI and retail sales data. Meanwhile, the Aud has retreated through 0.7250 again and hardly helped by overnight developments as ANZ revised its RBA outlook to unchanged until August 2020, and the ASIC launched a probe of CBA for the alleged mis-selling of insurance products. Similarly, the Kiwi has lost grip of 0.6800 amidst speculation that the RBNZ could loosen mortgage restrictions as part of its FSR due next week. GBP - As noted above, the Pound has lost a bit more positivity after Thursday’s rally on the draft PD reached by Brexit negotiators given a mixed reaction to the details in UK political circles and ongoing doubt about approval by EU leaders. Cable is back below 1.2850 vs circa 1.2900 at best yesterday, albeit ‘comfortably’ above the recent 1.2785 low with decent bids noted at 1.2800. EM - Some consolidation at the end of a solid week for the likes of the Zar and Try that have both made potentially significant breaks of key levels at 14.0000 and 5.3000 vs the Usd respectively due to a combination of bullish technical and fundamental factors, ie the SARB ¼ point hike yesterday. In commodities, WTI (-4.3%) and Brent (-2.6%) are on track for their seventh weekly loss with WTI prices briefly breaching the USD 52.00/bbl level to the downside while Brent lingers just above USD 61/bbl. Some traders are citing the recent decline to technical factors, while Saudi Arabia signalled that its output may have reached a record high of above 10.7mln BPD, and the kingdom’s Energy Minister Al-Falih noted that demand for oil will be lower in January 2019 compared to December 2018. This comes amidst the backdrop of this week’s EIA data which showed that US production remained at a record high of 11.7mln barrels, the most since at least 1983; according to government data. Therefore, the complex is suffering from a double whammy with supply glut concerns and weaker demand concerns weighing on traders’ minds. Oil fell into bear market territory this month after the US granted temporary waivers to eight countries in regard to Iranian oil, in turn pouring cold water on some supply concerns, while sources emerged this morning noting that China are to resume the purchase of Iranian oil in November after their waiver. Some analysts highlighted that due to complications over insurance, shipping and payments, it may take until February or later until some of Iran’s largest buyers such as South Korean and Japan resume purchases. Elsewhere, gold (-0.4%) prices saw some downside after the yellow metal felt pressure from the firmer USD and copper weakened amid underperformance in China alongside a decline in Chinese commodity prices. Furthermore, China’s Dalian Exchange are to relax their risk management restrictions on some futures in an attempt to attract more investors to boost liquidity given the recent slump in iron ore prices. US Event Calendar
9:45am: Markit US Manufacturing PMI, est. 55.7, prior 55.7
9:45am: Markit US Services PMI, est. 55, prior 54.8
Question on buying Bitcoins from a 3rd world country. Is my bank supported?
Hi. I live in Karachi, Pakistan. And although we are the 3rd largest city in the world, we are very much a 3rd world country. My question is this. Can I use the money in my local bank account here to purchase Bitcoins? Even though we have online banking, and big global banks like Citibank, Standard Chartered, etc. it is all quite rudimentary at this point. We still can't use Paypal here (can't sign-up for a Paypal account and link it to our bank account in order to transfer money back & forth). This leads me to the follow-up question. If I use my local currency to purchase Bitcoins, and later move to the U.S. (I am in the processing of finalizing a job offer and moving there in the next 6 months), are there tax implications which I need to be aware of? For example, if I purchase $25,000 worth of BTC right now using my local currency, and then exchange them into USD once I am living in the U.S. is that cool? I don't want to do anything illegal. Appreciate any knowledge you guys can provide regarding this situation. Thanks.
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Bitcoin Explained 2017 Pakistan India -Hindi Urdu - YouTube
Bitcoin has become so popular that now everyone is asking one simple question what is bitcoin so this video will explain the following WHat is bitcoin in hin... Bitcoin in Pakistan is a big mystery for most of the people. People in Pakistan have heard about bitcoin, thanks to its increase in prices, but they still do not understand what bitcoin is. How To Earn Bitcoins In Pakistan Free - Best Method 2018 Earning BTC how to earn bitcoin free in pakistan earn bitcoin in pakistan how to earn bitcoin in... Learn about Minimum Amount to Open an Online Trading Account at PSX Pakistan Stock Exchange market. Also, learn how much amount should be invested in Karachi... Four gunmen attacked the Pakistani stock exchange in Karachi, killing two guards and a policeman and wounding seven others before being shot dead. The assail...