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Islamic finance: SECP constitutes Shariah Advisory Board

ISLAMABAD:  The Securities and Exchange Commission of Pakistan (SECP), on Friday, announced the formation of the Shariah Advisory Board (SAB), which will be responsible for harmonising Shariah interpretations and strengthening the regulatory and supervisory oversight of Islamic financial institutions (IFIs) and Islamic capital markets (ICMs) in Pakistan. The board will also advise the SECP on the Shariah-compliance aspects of various ...

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Fun, frolic and education: Children of Lyari let loose at summer camp

Traditionally, libraries are strictly a silence zone but on Friday, the defunct hall of the Old Vision Library in Kalakot was abuzz with excitement as children of the neighbourhood let loose at the five-day summer camp organised by the NGO Right to Play. Singing, dancing and learning were the themes of the event whose participants included over 70 children of ...

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Smart cards: NADRA to facilitate AIOU in registration, financial transactions

ISLAMABAD:  National Database and Registration Authority (NADRA) will facilitate about 1.3 million Allama Iqbal Open University (AIOU) students in their financial transactions and data management using smart cards. An understanding was reached during a meeting held on Friday between NADRA Chairman Muhammad Tariq Malik and AIOU Vice Chancellor (VC) Dr Nazir Ahmed Sangi where both sides agreed that the process ...

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Family planning: ‘Women forced to seek abortions from amateur doctors’

ISLAMABAD:  Lack of post-abortion care facilities, untrained medical staff, stigma of contraceptives and financial constraints pose inherent barriers for efficient service delivery which ultimately put women’s lives at stake. This was the crux of a report on  ‘Post-Abortion Care in Pakistan’ launched by the Population Council in collaboration with the Guttmacher Institute and the National Committee for Maternal and Neonatal ...

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Baltacha and Ward out of US Open

Elena Baltacha and James Ward miss out on the US Open after losing in the final qualifying round at Flushing Meadows.

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Are you fit enough to be a jockey?

Being a jockey is a demanding job. Alex Thomas finds out just how tough it is at the British Racing School in Newmarket.

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Olmert Bombshell: Give Back 67 Land For Peace

The outgoing Israeli Prime Minister Ehud Olmert may be on his way out, but he seems determined not to leave quietly. In an interview in daily newspaper Yediot Aharanot, Olmert says Israel should exchange most of the West Bank the Golan Heights in any peace deal with the Arabs. “The decision we are going to have to make is a ...

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UBL earnings fall with drop in core income

KARACHI:  The after-tax profit of United Bank for the first half of 2013 declined 10.7% to Rs8.2 billion, according to an unconsolidated profit and loss statement sent to the Karachi Stock Exchange (KSE) on Friday. Earnings per share (EPS) decreased from Rs7.56 in June 2012 to Rs6.75 in June 2013, showing a decline of 12% year-on-year. Speaking to The Express ...

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A grave encroachment: Historical graveyard may turn into shopping mall, warns petitioner

KARACHI:  The historical graveyard on the outskirts of Karachi may turn into a shopping mall if authorities failed to put an end to encroachment, warned a petitioner. In a petition filed to Sindh High Court, Agha Syed Attallah Shah – an NGO representative – informed the court that the precious stones and carvings on the graves are being removed and ...

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LG polls in capital: Proposals submitted to interior ministry

ISLAMABAD:  The Islamabad administration, in compliance with a Supreme Court order, has submitted three proposals to the interior ministry for conducting local bodies’ elections in urban areas of the federal capital. The draft of the proposals was finalised and submitted to the interior ministry after a series of meetings between the officials of Islamabad Capital Territory (ICT) administration and Capital ...

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By-election: 32 per cent turnout in NA-48 by-election

ISLAMABAD:  The Pakistan Tehreek-e-Insaf (PTI) retained its National Assembly seat from the federal capital and Pakistan Muslim League-Nawaz (PML-N) added another seat to their provincial assembly tally from Rawalpindi district in the August 22 by-elections. PTI’s Asad Umar successfully defended the seat vacated by PTI President Javed Hashmi in the general elections. Umar received 48,073 votes — according to the ...

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‘Billion-euro’ drug raids in Belgium

In a series of raids across Belgium, polices seize ecstasy pills and chemicals used to make drugs, worth an estimated street value of 1.3bn euros.

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Legalization: The Uruguay model

Views on marijuana are shifting, but nearly everywhere, it is too early to talk about substantive changes to drug policies.

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Market watch: Karachi stock market ends flat after four successive bearish sessions

KARACHI:  The stock market stayed steady after four days of corrections as the market held its breath in ancticipation of the new monetary policy. The Karachi Stock Exchange’s (KSE) benchmark 100-share index rose just 0.36 points to end at 22,714.68 points. “Investors preferred to stay sidelined as ambiguity regarding the discount rate is still haunting the market. The banking sector ...

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Road mishaps: Four killed, 17 injured in separate incidents

BATTAGRAM / KOHISTAN:  Three people were burnt alive when an oil tanker caught fire in Komela, near the district headquarter of Kohistan, police and witnesses reported on Friday. According to Komela Police, an oil tanker was on its way to Gilgit from Rawalpindi when it skidded off the Karakoram Highway and plunged into River Abaseen. Residents recovered the charred bodies ...

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