Pak News Wire

Dar urges strict action against insider trading

<div>ISLAMABAD:  Federal Finance Minister Ishaq Dar has asked the Securities and Exchange Commission of Pakistan (SECP) to adopt a policy of zero tolerance against insider trading and set the example by identifying and penalising black sheep in the stock market so that it serves as deterrence. </div> On his visit to the SECP office here on Monday, Dar said incidents of insider trading and market manipulation like price manipulation, blank selling, front running, etc had severely damaged the interest of small investors and must be curbed for the protection of investors. He also highlighted the immense potential of non-banking financial institutions (NBFIs) and the insurance sector. He desired detailed presentations on these sectors based on the ideas presented so that necessary steps could be agreed and implemented for the development of the crucial segments. <img alt="" src="http://i1.tribune.com.pk/wp-content/uploads/2015/02/225.jpg" /> Later, while speaking to the SECP employees, the finance minister said the role of SECP was not limited to regulating the corporate sector and the capital market, but also facilitating and protecting the small investors. He highlighted the SECP’s recent initiatives including the development of sukuk regulations, book-building regulations, unit link rules for life insurance and approval of Real Estate Investment Trusts (REITs). Dar expressed concern that the full potential of the Pakistan Mercantile Exchange was not being realised and hoped that the SECP chairman would take necessary measures for the development of the commodities market. Advising the SECP to submit its tax proposals on priority, he cited the example of tax avoidance in relation to the levy on bonus shares. He declared that the issue would be settled in favour of the government. While giving future guidelines, the finance minister said Pakistan had to go a long way for the development of financial institutions for long-term funding as commercial banks could not meet the financial needs for development of the industrial sector. He said the government had taken measures to make Pakistan a sovereign country economically. When the present government took over, all the international financial institutions feared that Pakistan would default by 2014, but now with positive and sincere steps, not only the financial credibility of the country had increased but foreign reserves, which earlier stood at $ 7.5 billion, were now around $ 16 billion. On the occasion, SECP Chairman Zafar Hijazi and commissioners gave a detailed presentation in relation to the SECP’s reform agenda and areas requiring the government’s support. He said the SECP was very firm in its mission of developing a transparent and vibrant capital market, efficient and compliant insurance, NBFC and corporate sectors. Published in The Express Tribune, February 17th, 2015. Like <a href="https://www.facebook.com/ETribuneBusiness">Business on Facebook</a>, follow <a href="https://twitter.com/TribuneBiz">@TribuneBiz</a> on Twitter to stay informed and join in the conversation.

Dar urges strict action against insider trading

ISLAMABAD: Federal Finance Minister Ishaq Dar has asked the Securities and Exchange Commission of Pakistan (SECP) to adopt a policy of zero...

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Shooting underscores links between gangs and extremism

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I miss being in a band: Mohit Chauhan

NEW DELHI: Before he emerged as a popular playback singer, Mohit Chauhan had tasted success with his band Silk Route, which dissolved in the early 2000s. Now, the “Tum hee ho” hitmaker says he sometimes misses having his own gang of musicians. Before he delivered Bollywood hits like Pee loon, Tum se hi and Masakali, Mohit used to front the Silk Route band, known for the chartbuster Dooba dooba. “Sometimes I think about being part of a band. It has crossed my mind. Being in a band is like a small family. You travel together, make music and share time with each other. I miss those days sometimes, but I am not sure if I’ll join a band again,” said Chauhan. Come February 22, music lovers in Gurgaon will get to witness him performing at RED LiVE presents ‘Asli Rockstars with Atif Aslam and Mohit Chauhan’. Asked what “Asli Rockstar” means to him, he said: “He would be someone who has done things in his own way, who is original and believes in himself.” Among Bollywood singers, he considers late legendary artiste Kishore Kumar as a true blue rockstar. “Kishore Kumar was multi-talented and original, so I really respect him,” said Chauhan, who has worked with great Indian musicians including Grammy-winning music maestro AR Rahman. And like the late singer, if Chauhan gets an opportunity, he would like to try his hand at acting. “I used to do theatre. If anything interesting comes up, I would act. It doesn’t have to be only a lead role. The story should be interesting,” he said. Talking about original work, the singer, who likes to record songs with “aesthetic sense”, also mentioned that he is working on his own album. “I’m putting together the songs. I will be releasing my own album soon this year. They are my thoughts converted to songs,” he shared about his new project. When he is not working, Chauhan, who hails from Himachal Pradesh, likes to travel to the mountains. In an earlier interview   Chauhan had shared his displeasure towards friendships in the entertainment industry  he Filmfare Award-winning playback singer was of the opinion that, “friendship formed in the glamour industry comeswith mutual benefits, which is nice, but it is not the real deal.” He further said that, “It is a kind of professional friendship to a certain extent.” So what’s the dealmaker for the talented playback singer? “The real deal is when you are friends with someone since ninth standard or college days. A person who has been with you through your struggle and stayed with you through thick and thin,” said the 48-year-old singer who was the former front-man of the Indian pop band Silk Route, which shot to fame after the release of their song Dooba Dooba in 1990’s. The Masakali singer feels lucky that he is still in touch with close friends from his school and college going days.  Published in The Express Tribune, February 17th,  2015. Like <a href="https://www.facebook.com/ETLifeandStyle">Life & Style on Facebook, </a>follow <a href="https://twitter.com/ETLifeandStyle">@ETLifeandStyle</a> on Twitter for the latest in fashion, gossip and entertainment.

I miss being in a band: Mohit Chauhan

NEW DELHI: Before he emerged as a popular playback singer, Mohit Chauhan had tasted success with his band Silk Route, which dissolved in th...

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NYC: 12 days without a homicide

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