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Print - 2007-02-27
Saudi Arabia to host Arab summit; invites Syria

Saudi Arabia to host Arab summit; invites Syria

Saudi Arabia, which has recently stepped up a diplomatic drive to counter non-Arab regional power Iran, will host an annual Arab summit on March 28 and 29, Saudi media reported on Monday.
Published 27 Feb, 2007 12:00am
Sterling mixed

Sterling mixed

Sterling hit a 1-1/2 week high against the dollar after a strong British house prices survey on Monday, but fell sharply against the yen as the Japanese currency rose across the board. Property consultant Hometrack said house prices in Britain climbed in
Published 27 Feb, 2007 12:00am
Dollar holds near recent low

Dollar holds near recent low

The dollar hovered near a two-month low versus the euro on Monday, weighed by expectations that this week's US data will bolster the case for rate cuts, while a slight unwinding of carry trades lifted the yen.
Published 27 Feb, 2007 12:00am
Bonds: Icelandic banks rally

Bonds: Icelandic banks rally

The price of default insurance on Iceland's major banks fell on Monday after Moody's Investors Services upgraded them and many other banks on the assumption that governments would rescue them should they get into trouble.
Published 27 Feb, 2007 12:00am
Bonds: Icelandic banks rally

Bonds: Icelandic banks rally

The price of default insurance on Iceland's major banks fell on Monday after Moody's Investors Services upgraded them and many other banks on the assumption that governments would rescue them should they get into trouble.
Published 27 Feb, 2007 12:00am
Monday's early afternoon trade: US indices slip on oil's rise

Monday's early afternoon trade: US indices slip on oil's rise

US stocks fell on Monday as rising crude oil prices reignited economic worries and offset early optimism about a proposed $31.8 billion purchase of Texas power company TXU Corp. Crude prices rose as Iran and the United Nations squared off over Tehran's nu
Published 27 Feb, 2007 12:00am
FTSE joins European rally on oil stocks

FTSE joins European rally on oil stocks

Britain's leading share index joined a European stock market rally on Monday, with energy shares forging higher as global tensions over Iran boosted oil prices.
Published 27 Feb, 2007 12:00am
New York cotton marginally higher

New York cotton marginally higher

Cotton futures finished with small gains Monday on modest buying by small speculators, and the market should stay in a band while waiting for leads in the days ahead, brokers said. New York Board of Trade open-outcry May cotton closed up 0.20 cent at 53.8
Published 27 Feb, 2007 12:00am
Nickel hits new record high

Nickel hits new record high

Nickel hit a new record high on Monday on supply worries, lead scored a new peak, aluminium hit its best since last May and copper was firm on Asian demand.
Published 27 Feb, 2007 12:00am
Oil rises amid US chill and Iran tensions

Oil rises amid US chill and Iran tensions

Oil rose on Monday as a burst of cold weather boosted heating demand in the United States and as world powers discussed tightening UN sanctions on Iran, the world's fourth-largest oil exporter. US crude rose 25 cents to $61.39 a barrel, just below the 200
Published 27 Feb, 2007 12:00am
London sugar rises

London sugar rises

London white sugar futures closed slightly higher in London on Monday after short-covering supported the market, traders said. Front-month May closed at $334.0 per tonne, up $1.6 from Friday's close, after trading in a range of $331.5 to $334.4. Total vol
Published 27 Feb, 2007 12:00am
European gold nears $700

European gold nears $700

Gold hit its highest in nine months on Monday as a weak dollar attracted money to commodities and tensions grew between Iran and the United Nations. Silver rose to its highest since May, platinum hit its best level in three months at $1,245 an ounce on th
Published 27 Feb, 2007 12:00am
HEC-funded developmental projects reviewed

HEC-funded developmental projects reviewed

The project review meeting of Higher Education Commission (HEC) funded developmental projects was held here on Monday to monitor the projects' performance, based on monitoring progress report of HEC in the university.
Published 27 Feb, 2007 12:00am
PNSC building fire

PNSC building fire

It was a sad moment to see the prestigious building engulfed in fire. It is intriguing that as usual KPT snorkel was blamed for its height and pumping inefficiency. It never dawned on PNSC management to peep into their in-house poor safety management stan
Published 27 Feb, 2007 12:00am
Who killed Zille Huma?

Who killed Zille Huma?

It was perhaps an insane Maulvi Sarwar, who pulled the trigger that killed Zille Huma, but what about the law and order system that let him off in 2003, when he had confessed to killing over four women.
Published 27 Feb, 2007 12:00am
How bad credit is threatening Russia's banks

How bad credit is threatening Russia's banks

Russia's Central Bank chief Sergei Ignatiev feels a tangible threat: the growing amount of defaulting consumer credit is putting the whole Russian banking system at risk, he warns. Experts now believe that a third of all those in debt cannot pay back thei
Published 27 Feb, 2007 12:00am
'Solve it or quit', Lebanese campaigners tell politicians

'Solve it or quit', Lebanese campaigners tell politicians

Fear of renewed civil war in Lebanon has led to the creation of dozens of civil movements which are venting their anger at the country's politicians on the streets, billboards and the Internet. Reform-minded groups have taken to the streets in the past fe
Published 27 Feb, 2007 12:00am
KESC's refusal - an indictment of IPPs!

KESC's refusal - an indictment of IPPs!

A small news item appearing in the press some three months ago apprised us that the Karachi Electric Supply Company (KESC) is refusing to accept the upcoming supply from two soon to come on-bar IPPs. This news was very surprising, because the refusal was
Published 27 Feb, 2007 12:00am
Prospects of implementation of audit plan

Prospects of implementation of audit plan

Now that the Central Board of Revenue (CBR), is reported to have started sector-wise selection of cases for audit, subsequent to the scanning of taxpayer's profiles to pinpoint high-risk cases, it will appear that the way has been found for tiding over im
Published 27 Feb, 2007 12:00am
IPI gas transportation deal

IPI gas transportation deal

In an unprecedented breakthrough, Pakistan and India have successfully worked out the modalities of the IPI gas-sharing formula. Under the framework initialled at Islamabad on Friday, Pakistan and India will get an equal share from the 2.1 billion cubic f
Published 27 Feb, 2007 12:00am
SHC allows Mengal's transfer application

SHC allows Mengal's transfer application

A single bench of Sindh High Court comprising Chief Justice Sabihuddin Ahmed on Monday allowed transfer application filed by Balochistan National Party (Mengal) chief Akhtar Mengal and transferred army personnel hostage-taking case from Anti-Terrorism Cou
Published 27 Feb, 2007 12:00am
Students' role in nature conservation lauded

Students' role in nature conservation lauded

Sindh Minister for Environment, Dr Saghir Ahmed appreciated the efforts of students for nature conservation and dedicating so much time to participating in the WWF Nature Carnival. According to a press release issued on Monday, the minister was speaking a
Published 27 Feb, 2007 12:00am
JP Morgan launches onshore cash equity brokering operation

JP Morgan launches onshore cash equity brokering operation

J.P. Morgan has announced that it has expanded its presence in Pakistan with the launch of an onshore cash equity brokering operation. This move strengthened the firm and its clients' participation in one of Asia's fastest growing economies, a press relea
Published 27 Feb, 2007 12:00am
Islamic banking course opens

Islamic banking course opens

The Seventh Islamic Banking Certificate Course commenced at the Karachi Campus of the National Institute of Banking and Finance (Nibaf) on Monday. While inaugurating the course, Nibaf Managing Director Kazi Abdul Muktadir gave a brief overview of the role
Published 27 Feb, 2007 12:00am
'Modarabas performance not reflecting in share market value'

'Modarabas performance not reflecting in share market value'

Performance of the majority of the Modarabas, though quite impressive, is not reflected in the share market value in spite of high dividend being paid. This was pointed out by Salman Ali Shaikh, Commissioner, Securities and Exchange Commission of Pakistan
Published 27 Feb, 2007 12:00am
'Modarabas performance not reflecting in share market value'

'Modarabas performance not reflecting in share market value'

Performance of the majority of the Modarabas, though quite impressive, is not reflected in the share market value in spite of high dividend being paid. This was pointed out by Salman Ali Shaikh, Commissioner, Securities and Exchange Commission of Pakistan
Published 27 Feb, 2007 12:00am
DHL announces young entrepreneur awards

DHL announces young entrepreneur awards

DHL, the world's leading express and logistics company, on Monday announced the launch of the Young Entrepreneur Sustainability (YES) awards, focusing on the achievements made by the young social entrepreneur for the achievement of millennium development
Published 27 Feb, 2007 12:00am
CEM given attached department status

CEM given attached department status

Sindh government has issued a notification giving status of an 'attached department' to the college education management (CEM) in the province. According to the notification received here on Monday, the government of Sindh, with the approval of the govern
Published 27 Feb, 2007 12:00am
'Works on Matiari uplift schemes in full swing'

'Works on Matiari uplift schemes in full swing'

The Zila Nazim Matiari Syed Muhammad Ali Shah has said the development work of 547 different development schemes in the district was in full swing at total annual allocation of more than Rs 328 million and added that the same to be completed within a stip
Published 27 Feb, 2007 12:00am
HBL launches new corporate identity

HBL launches new corporate identity

In an effort to modernise and revamp its corporate image, the Habib Bank Limited (HBL), one of the oldest and well respected banks of the nation, announced the launch of its new corporate identity. The announcement was made by HBL President and CEO Zakir
Published 27 Feb, 2007 12:00am
FM Radio of AIOU to be launched soon: vice chancellor

FM Radio of AIOU to be launched soon: vice chancellor

Vice Chancellor Allama Iqbal Open University (AIOU), Dr Mahmood ul Hassan Butt on Monday said that FM Radio of AIOU would be launched within four months. Talking to PTV he said, the project would cost almost Rs 38 million and funding for it would be provi
Published 27 Feb, 2007 12:00am
US diplomat delivers talk on civil rights movement

US diplomat delivers talk on civil rights movement

US Diplomat Lyngrid Smith Rawlings delivered a talk on the topic of "Civil Rights Movement of the 1960s: A Black Woman's Perspective, Then and Now" here at the Kinnaird College for Women on Monday.
Published 27 Feb, 2007 12:00am
LHC orders DCO to appear in court

LHC orders DCO to appear in court

The Lahore High Court (LHC) directed District Co-ordination Officer (DCO), Lahore to appear before the court on March 06, in a petition filed by a secondary school teacher seeking implementation of the orders pertaining to her posting as Headmistress.
Published 27 Feb, 2007 12:00am
Disaster management authority to be set up in Punjab

Disaster management authority to be set up in Punjab

Punjab Chief Minister Chaudhry Pervaiz Elahi has said that 'Disaster Management Authority' would be set up in the province for relief and rehabilitation of calamity stricken people.
Published 27 Feb, 2007 12:00am
Increase in power tariff opposed

Increase in power tariff opposed

People of the Southern Punjab, particularly farmers, have expressed their strong dissatisfaction over the government's step of 10 percent increase in electricity prices and maintained the decrease in the gas price a mere hogwash in the approaching summer.
Published 27 Feb, 2007 12:00am
Withdrawal of hike in power tariff demanded

Withdrawal of hike in power tariff demanded

Pakistan Industrial and Traders Associations Front (Piaf), while expressing its grave concern over the recent hike in electricity tariff, has urged the government to withdraw this new raise in the larger interest of the country's industry.
Published 27 Feb, 2007 12:00am
Emerging business opportunities, risks elaborated

Emerging business opportunities, risks elaborated

Rohit Talwar, an internationally renowned futurist and business strategist from UK, said there were four key factors, which would dominate the business environment in the period to 2020.
Published 27 Feb, 2007 12:00am
KCCI and CMS-UK ink MoU

KCCI and CMS-UK ink MoU

The Karachi Chamber of Commerce and Industry (KCCI) and Chamber Management Services (CMS-UK) have signed a Memorandum of Understating (MoU) on Monday. The MoU was signed by A Abdullah Zaki Senior Vice President, KCCI and Mohammed Ahmed International Assoc
Published 27 Feb, 2007 12:00am
Enrolment in government schools increased

Enrolment in government schools increased

Enrolment in public sector schools has considerably increased and double shift has been introduced in 200 out of 354 schools adopted by NGOs that have joined hands with the City District Government, Lahore (CDGL) for uplift of education sector in the city
Published 27 Feb, 2007 12:00am
Punjab following aggressive policy to attract investment

Punjab following aggressive policy to attract investment

The Punjab government under the special directions of Chief Minister, Chaudhry Pervaiz Elahi is following an aggressive policy to attract foreign investment, which is being sought at 100-percent ownership and joint venture basis.
Published 27 Feb, 2007 12:00am
APHC lauds Musharraf's efforts

APHC lauds Musharraf's efforts

APHC spokesman has lauded President Musharraf's efforts for resolving Kashmir issue. He said, Musharraf's efforts had for the first time generated hopes of a resolution of Kashmir dispute, Radio Tehran reported.
Published 27 Feb, 2007 12:00am
Campaign to check hepatitis

Campaign to check hepatitis

The Blood Donor Society of GC University Lahore in collaboration with Pakistan Medical Association (PMA) and Glaxo SmithKline on Monday organised a campaign at the university campus in an effort to point out the consumer health guide on the manifestations
Published 27 Feb, 2007 12:00am
National Task Force on 'oral health' soon

National Task Force on 'oral health' soon

With a view to sensitising the masses and ensuring provision of better facilities to public particularly children pertaining to oral health, the Ministry of Health (MoH) is going to form a National Task Force on 'Oral Health'.
Published 27 Feb, 2007 12:00am
Hearing against Ittefaq Group adjourned

Hearing against Ittefaq Group adjourned

The Lahore High Court (LHC) on Monday adjourned till March 26, the proceedings in a petition regarding sale of units of Ittefaq Group of Industries owned by Sharif family to settle bank loans.
Published 27 Feb, 2007 12:00am
Lunch hosted

Lunch hosted

Punjab government hosted a lunch in honour of delegates of Asia Pacific Parliamentarians Conference on Environment and Development here on Monday. Punjab Law and Public Prosecution Minister Muhammad Basharat Raja represented the chief minister.
Published 27 Feb, 2007 12:00am
Farmers to get Rs 425/maund wheat support price

Farmers to get Rs 425/maund wheat support price

Punjab Minister for Agriculture, Arshad Khan Lodhi has said that the wheat cultivation is a profitable profession and the farmers would be paid the wheat support price at the rate of Rs 425 per maund.
Published 27 Feb, 2007 12:00am
MA Philosophy, Arabic results announced

MA Philosophy, Arabic results announced

Punjab University has announced the results of MA Philosophy and MA Arabic, Part-II annual examinations 2006. In MA Philosophy, Part-II annual examinations 2006, as many as 21 candidates appeared in the examinations and nine were declared successful.
Published 27 Feb, 2007 12:00am
Khalil calls for promotion of art and culture

Khalil calls for promotion of art and culture

Special Assistant to Prime Minister, Commander Khalil-ur-Rahman said on Monday that art and culture is the identity of any nation and should be promoted among new generation. He stated this while visiting Hunerkada, College of Visual and Performing Arts h
Published 27 Feb, 2007 12:00am
Facilities under police ordinance sought

Facilities under police ordinance sought

A member of the Lahore High Court Bar Association (LHCBA) has approached the Lahore High Court (LHC) with prayer to direct the respondent police officials to provide necessary facilities to policemen in accordance with the provisions of Police Ordinance,
Published 27 Feb, 2007 12:00am
Population welfare programme extended to Fata

Population welfare programme extended to Fata

NWFP Governor Lieutenant General Ali Muhammad Jan Aurakzai (Retd) directed to prepare a master plan and implementation strategy for the population welfare programme in Fata within fortnight so that the implementation process could be initiated as early as
Published 27 Feb, 2007 12:00am
The Weather

The Weather

The weather report on Monday (February 26, 2007) and the forecast for Tuesday (February 27, 2007).
Published 27 Feb, 2007 12:00am
Qazi urges Supreme Court to take notice of Basant killings

Qazi urges Supreme Court to take notice of Basant killings

Jamat-e-Islami Chief and President of Muttahida Majlis-e-Amal Qazi Hussain Ahmad on Monday urged Supreme Court of Pakistan to take notice of the loss of lives during Basant and award exemplary punishment to the violator of apex court's decision regarding
Published 27 Feb, 2007 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (February 26, 2007).

Published 27 Feb, 2007 12:00am
PFMA resents rise in power rates

PFMA resents rise in power rates

The government's decision in increasing the electricity tariff by 10-percent would certainly have a negative impact on the footwear sector. According to Pakistan Footwear Manufacturers Association (PFMA) Chairman Khawaja Muhammad Ali.
Published 27 Feb, 2007 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (February 26, 2007).

Published 27 Feb, 2007 12:00am
Chief minister urged to take action against police excesses

Chief minister urged to take action against police excesses

A local citizen Muhammad Saleem has called upon the Chief Minister Punjab to direct Gowalmandi police not to harass him and his family members. In a statement issued here on Monday, Saleem said his son Tariq Saleem was a political activist and police was
Published 27 Feb, 2007 12:00am
Key stock and currency market movements

Key stock and currency market movements

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).

Published 27 Feb, 2007 12:00am
Baloch youths to be recruited for Motorway police

Baloch youths to be recruited for Motorway police

The government has decided to recruit Baloch youths for Motorway Police to be deputed on Regional Co-operation for Development (RCD) Highway that links Karachi with Quetta.
Published 27 Feb, 2007 12:00am
Old rivalry claims seven lives

Old rivalry claims seven lives

Seven persons were killed and four injured in a bloody clash that took place between two rival groups in Dhok Muradoon in Tala Gang on Monday. Old feud is stated to be the reason of the clash.
Published 27 Feb, 2007 12:00am
UNODC signs deal with MoNC and ANF

UNODC signs deal with MoNC and ANF

United Nations Office on Drugs Control has signed an agreement with the Ministry of Narcotics Control and Anti Narcotics Force (ANF) on a joint project of 'Drug Dependence Treatment and HIV/AIDS Awareness' with total cost of about $30 million.
Published 27 Feb, 2007 12:00am
Air Arabia set for Karachi, Peshawar flights

Air Arabia set for Karachi, Peshawar flights

Air Arabia has announced its flights' schedule for its two new destinations in Pakistan.Inaugural flights will take off on March 4 and 7 to Karachi and Peshawar respectively, private TV news channel reported. "Air Arabia is proud to add Karachi and Peshaw
Published 27 Feb, 2007 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (February 26, 2007).

Published 27 Feb, 2007 12:00am
NWFP starts work on preparation of draft ADP

NWFP starts work on preparation of draft ADP

The provincial government is likely to allocate 70 percent of the total development budget for the ongoing projects to ensure their early completion, while the remaining 30 percent would be sanctioned for the new projects, sources in planning and developm
Published 27 Feb, 2007 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Monday (February 26, 2007) and for Tuesday (February 27, 2007).
Published 27 Feb, 2007 12:00am
Government slammed for defying ban on kite-flying

Government slammed for defying ban on kite-flying

Muttahida Majlis-i-Amal and other religious and political parties on Monday observed the protest day against celebrating the "Basant" at official level, which caused death of 17 people leaving hundreds of people injured.
Published 27 Feb, 2007 12:00am
PPP calls for judicial probe into murder of Zille Huma

PPP calls for judicial probe into murder of Zille Huma

The Pakistan People's Party has objected to the Intelligence Bureau holding the investigation into the murder of the Punjab Minister Zilla Huma and demanded a judicial probe into it.
Published 27 Feb, 2007 12:00am
LHC holiday on March 10

LHC holiday on March 10

The Lahore High Court (LHC) has announced March 10 as holiday on account of Urs of great saint of sub-continent Hazrat Data Ganj Baksh (Ali Hajverri) instead of March 9. The chief justice, in a notification issued here on Monday ordered that LHC principal
Published 27 Feb, 2007 12:00am
Dismissal of ZTBL workers slammed

Dismissal of ZTBL workers slammed

Peoples Labour Bureau, All Pakistan Bank Workers Federation and other trade unions have condemned the forced dismissal from jobs of about 1,850 employees of the Zarai Taraqqiati Bank Limited (ZTBL), both from clerical and non-clerical cadres.
Published 27 Feb, 2007 12:00am
NetSol gets another major contract

NetSol gets another major contract

NetSol Technologies Ltd, (NASDAQ: NTWK), a multinational provider of enterprise software and IT services to the financial services industry, has announced that it has secured its fourth major contract for LeaseSoft in the Chinese market in the past 12 mon
Published 27 Feb, 2007 12:00am
Zakat council being formed: Ejaz

Zakat council being formed: Ejaz

Federal Minister for Religious Affairs, Ejazul Haq said effective steps had been taken for the transparency of Zakat system. For this purpose, he said a federal zakat council was being formed for the check and balance of zakat funds.
Published 27 Feb, 2007 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (February 26, 2007).

Published 27 Feb, 2007 12:00am
'PML will win general polls'

'PML will win general polls'

The forthcoming general elections would be held in a free, fair and impartial manner and the PML would clean sweep the polls. The Minister of State for Housing and Works, Sardar Muhammad Asif Nakai, stated this while addressing a public gathering at villa
Published 27 Feb, 2007 12:00am
Call for promoting science and technology

Call for promoting science and technology

'Without making progress in the field of science and technology (S&T), no nation could survive in the challenging world of today'. Governor Punjab, Lieutenant General Khalid Maqbool (Retd), stated this at the convocation of Allama Iqbal Open University (A
Published 27 Feb, 2007 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (February 26, 2007).

Published 27 Feb, 2007 12:00am
Askari Bank hires chief economist

Askari Bank hires chief economist

Askari Bank has appointed Mr Shahid Ahmed as Chief Economist & Country Head of Strategic Planning Division. Mr Shahid Ahmed was educated at the University of Cambridge, England. He has also done research at the Netherlands School of Economics in Holland.
Published 27 Feb, 2007 12:00am
NGO launches free plastic surgery for cleft lip patients

NGO launches free plastic surgery for cleft lip patients

Pakistan Cleft Lip and Palate Association (PCLAPA) has started surgical operations of people from all over the country in order to provide free medical facilities and undertake surgery of patients suffering from the major disability of cleft lip and palat
Published 27 Feb, 2007 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Monday (February 26, 2007).

Published 27 Feb, 2007 12:00am
PEC plans hike in teachers' salaries

PEC plans hike in teachers' salaries

Pakistan's Ambassador Mohammad Asghar Afridi has expressed his determination to implement reforms and positive changes at the Pakistan Education Centre (PEC), the major educational institution for the Pakistani community in Qatar.
Published 27 Feb, 2007 12:00am
Jashan-e-Baharan in Karachi

Jashan-e-Baharan in Karachi

With the advent of spring Basant festivals became the buzzword across the country. Lahore has traditionally been the focal point but Karachi, Pakistan's largest metropolis has of late also seen mega-events organised for Basant.
Published 27 Feb, 2007 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Monday (February 26, 2007).

Published 27 Feb, 2007 12:00am
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