ISLAMABAD: The Drug Regulatory Authority Pakistan (DRAP) has recalled the anti-biotic, INC Infusion Batch No CPV-85 as the product was declared substandard by Central Drugs Laboratory (CDL) Karachi. A recall alert issued here by DRAP said federal government analyst CDL Karachi has declared Batch No 065 of product “INCIP Infusion” as of substandard quality, therefore, all the concerned quarters are …

MELBOURNE: Alexander Zverev served up a huge shock at the Australian Open on Wednesday by stunning second seed Carlos Alcaraz to make the semi-finals after third seed Daniil Medvedev fought hard to avoid an upset at the hands of Hubert Hurkacz. Ukrainian qualifier Dayana Yastremska and Chinese 12th seed Zheng Qinwen earlier progressed to the last four of a Grand …

ABIDJAN: Former champions Algeria crashed out of the Africa Cup of Nations in the group stage on Tuesday after a shock defeat against Mauritania, but Cameroon secured a last-16 place with a dramatic victory over Gambia. Algeria won their second AFCON title in Egypt in 2019 but were then sent packing in the group stage at the last edition in …

MELBOURNE: Mitchell Marsh will captain Australia for their Twenty20 series against the West Indies with regular skipper Pat Cummins being rested, the country’s cricket board (CA) said on Wednesday. Australia are hosting West Indies for three T20s between Feb. 9-13 as part of their preparations for the T20 World Cup, which will be held in the Caribbean and US in …

Bears returned to the trading floor of the Pakistan Stock Exchange (PSX) on Thursday as shares traded in the red and lost more than 500 points. According to the PSX website, the KSE-100 index closed at 64,298 points, down 524.43 or 0.81 per cent, from the previous close of 64,822.43. The index had previously maintained an upward trajectory on expectations of measures aimed …

ISLAMABAD: The Federal Board of Revenue (FBR) has evolved a simplified scheme for taxing the indicative incomes of traders, retailers and specified persons as part of the documentation to reduce the size of the informal economy. The tax department projects that the newly proposed scheme could potentially generate an income tax revenue ranging from Rs400 billion to Rs500bn. The details …

ISLAMABAD: In line with commitments with the multilateral lenders to contain ever-rising pension bill, the government has started inter-ministerial consultations for major pension reforms including reduced benefits in commutation and regular payments for existing pensioners and the beginning of a contributory pension scheme for current employees. A senior official at the Ministry of Finance told Dawn that all federal ministries and divisions …

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Wednesday granted a 10-year licence for the sale of natural gas and regasified liquefied natural gas (RLNG) to a subsidiary of Sui Southern Gas Company Ltd (SSGCL) called SSGC-Alternate Energy (Pvt) Ltd. The SSGC established the subsidiary — SSGC-AE — about two years ago with the main objective of renewable energy …

KARACHI: Despite easing import restrictions on opening letters of credit, Honda Atlas Cars Ltd (HACL) company’s profit plunged to Rs143m in October-December 2023 from Rs810m in the same period last year. In a stock filing on Wednesday, the auto assembler informed that its sales posted a steep drop to Rs12bn in the three months from Rs23bn in the same period …