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Print - 2012-07-16
Trade talks at Tehran begin today

Trade talks at Tehran begin today

Pakistan and Iran will hold two-day-long talks in Tehran from Monday (today) on a five-year trade framework for boosting annual trade volume to $10 billion, sources told Business Recorder on Sunday. An official delegation left for Tehran on Sunday.
Published 16 Jul, 2012 12:00am
UAE ships first oil via Fujairah as Iran threats escalate

UAE ships first oil via Fujairah as Iran threats escalate

As Iranian threats to close the Strait of Hormuz grew louder over the weekend, the United Arab Emirates quietly loaded its first cargo on Sunday from its long-awaited new oil export terminal on the Gulf of Oman. UAE oil officials and executives from oil m
Published 16 Jul, 2012 12:00am
UAE ships first oil via Fujairah as Iran threats escalate

UAE ships first oil via Fujairah as Iran threats escalate

As Iranian threats to close the Strait of Hormuz grew louder over the weekend, the United Arab Emirates quietly loaded its first cargo on Sunday from its long-awaited new oil export terminal on the Gulf of Oman. UAE oil officials and executives from oil m
Published 16 Jul, 2012 12:00am
UAE ships first oil via Fujairah as Iran threats escalate

UAE ships first oil via Fujairah as Iran threats escalate

As Iranian threats to close the Strait of Hormuz grew louder over the weekend, the United Arab Emirates quietly loaded its first cargo on Sunday from its long-awaited new oil export terminal on the Gulf of Oman. UAE oil officials and executives from oil m
Published 16 Jul, 2012 12:00am
Iraq initials gas exploration deal with PPL

Iraq initials gas exploration deal with PPL

Iraq initialled a gas exploration deal with Pakistan Petroleum on Sunday, a senior official said, the first of three successive contracts aimed at increasing the country''s oil and gas reserves. "We are now initialling a contract between the Iraqi oil min
Published 16 Jul, 2012 12:00am
Iraq initials gas exploration deal with PPL

Iraq initials gas exploration deal with PPL

Iraq initialled a gas exploration deal with Pakistan Petroleum on Sunday, a senior official said, the first of three successive contracts aimed at increasing the country's oil and gas reserves. "We are now initialling a contract between the Iraqi oil mini
Published 16 Jul, 2012 12:00am
Iraq initials gas exploration deal with PPL

Iraq initials gas exploration deal with PPL

Iraq initialled a gas exploration deal with Pakistan Petroleum on Sunday, a senior official said, the first of three successive contracts aimed at increasing the country's oil and gas reserves. "We are now initialling a contract between the Iraqi oil mini
Published 16 Jul, 2012 12:00am
THE RUPEE: dollar moves up

THE RUPEE: dollar moves up

A persisting demand for dollar kept the rupee under pressure during the week, ended on 14 July, 2012. In interbank market, the rupee drifted lower versus dollar, losing 30 paisa for buying and selling at 94.35 and 94.40.
Published 16 Jul, 2012 12:00am
THE RUPEE: dollar moves up

THE RUPEE: dollar moves up

A persisting demand for dollar kept the rupee under pressure during the week, ended on 14 July, 2012. In interbank market, the rupee drifted lower versus dollar, losing 30 paisa for buying and selling at 94.35 and 94.40.
Published 16 Jul, 2012 12:00am
Kashmir dispute: no solution from outside: Obama

Kashmir dispute: no solution from outside: Obama

US President Barack Obama on Sunday ruled out 'outside' solutions for resolving the Kashmir issue and said that disputes between Pakistan and India "can only be resolved by the two countries themselves". Welcoming the resumption of the dialogue process, h
Published 16 Jul, 2012 12:00am
Kashmir dispute: no solution from outside: Obama

Kashmir dispute: no solution from outside: Obama

US President Barack Obama on Sunday ruled out 'outside' solutions for resolving the Kashmir issue and said that disputes between Pakistan and India "can only be resolved by the two countries themselves". Welcoming the resumption of the dialogue process, h
Published 16 Jul, 2012 12:00am
Gas and POL products: prices increased

Gas and POL products: prices increased

Oil and Gas Regulatory Authority (Ogra) on Sunday increased petroleum products and gas prices. The increase will come into effect from Monday (today). According to an Ogra notification, the price of petrol has been increased by Rs 1.41 per litre and compr
Published 16 Jul, 2012 12:00am
Gas and POL products: prices increased

Gas and POL products: prices increased

Oil and Gas Regulatory Authority (Ogra) on Sunday increased petroleum products and gas prices. The increase will come into effect from Monday (today). According to an Ogra notification, the price of petrol has been increased by Rs 1.41 per litre and compr
Published 16 Jul, 2012 12:00am
Gas and POL products: prices increased

Gas and POL products: prices increased

Oil and Gas Regulatory Authority (Ogra) on Sunday increased petroleum products and gas prices. The increase will come into effect from Monday (today). According to an Ogra notification, the price of petrol has been increased by Rs 1.41 per litre and compr
Published 16 Jul, 2012 12:00am
The Weather

The Weather

The weather report on Sunday (July 15, 2012) and the forecast for Monday (July 16, 2012).

Published 16 Jul, 2012 12:00am
Your rupee last week

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (July 09 to July 13, 2012).

Published 16 Jul, 2012 12:00am
Caretaker Prime Minister: PML-N agrees to submit name of former judge

Caretaker Prime Minister: PML-N agrees to submit name of former judge

In an informal consultation at the Punjab House in Murree on Sunday, Pakistan Muslim League-N agreed to submit the name of a former judge for the post of caretaker Prime Minister to ensure a fair and transparent election, sources said. However, the party
Published 16 Jul, 2012 12:00am
FDT helps out 10 textile university students

FDT helps out 10 textile university students

Faisalabad Development Trust (FDT) has provided Financial Assistance of Rs294,000 to 10 most deserving and talented students of the National Textile University (NTU). Commissioner, Faisalabad, Syed Tahir Hussain on Sunday presented a cheque to NTU's Regis
Published 16 Jul, 2012 12:00am
330 Ramazan Bazaars, 2020 fair price shops to be set up in Punjab

330 Ramazan Bazaars, 2020 fair price shops to be set up in Punjab

In order to provide basic commodities on subsidied rates during the holy monthly of Ramazan the Punjab government has decided to set up 330 Ramazan Bazaars, designate 2020 fair price shops in markets and establish 810 Dasterkhawans for providing free food
Published 16 Jul, 2012 12:00am
Plan ready to fight off floods: Khosa

Plan ready to fight off floods: Khosa

Senior Advisor to Chief Minister Punjab Zulfiqar Khosa has said that Punjab government has finalized plan to fight floods in monsoon season. He added that besides repair and reconstruction of 16-mile long embankments in district Layyah at a cost of more t
Published 16 Jul, 2012 12:00am
Network of Daanish Schools to be extended: minister

Network of Daanish Schools to be extended: minister

Minister for Education Punjab, Mian Mujtaba Shuja-ur-Rehman has said that government is implementing a comprehensive programme for providing modern educational facilities to the children and all out cooperation as well as assistance is being provided to t
Published 16 Jul, 2012 12:00am
Punjab approves eight projects costing Rs 12.16 billion

Punjab approves eight projects costing Rs 12.16 billion

The Punjab government has approved eight schemes with an estimated cost of Rs12,166.967 million in the second meeting of the Provincial Development Working Party presided over by Chairman of the provincial Planning and Development Board Javaid Aslam.
Published 16 Jul, 2012 12:00am
Independent policy research is direly needed: Raza Rumi

Independent policy research is direly needed: Raza Rumi

Raza Ahmed, popularly known by his pen name, Raza Rumi, is a policy adviser and development practitioner. His columns are published regularly in various English newspapers. Previously, he has worked with various multilateral institutions and prominent loc
Published 16 Jul, 2012 12:00am
Independent policy research is direly needed: Raza Rumi

Independent policy research is direly needed: Raza Rumi

Raza Ahmed, popularly known by his pen name, Raza Rumi, is a policy adviser and development practitioner. His columns are published regularly in various English newspapers. Previously, he has worked with various multilateral institutions and prominent loc
Published 16 Jul, 2012 12:00am
Farmers struggle in Malawi's poor economic climate

Farmers struggle in Malawi's poor economic climate

For farmer Gerevanzio Suluma, the 2011-12 growing season has been disastrous. He is one of thousands of Malawian farmers who once cultivated maize but switched to cotton - an idea that has proven very costly. "Last year the prices of cotton were very good
Published 16 Jul, 2012 12:00am
Abiyana rates

Abiyana rates

Apropos editorial "Abiyana rates need to reflect inflation" carried by Business Recorder on July 14, 2012, there is no denying the fact that the rates of irrigation water in Pakistan are one of the lowest in the world. The water charges do not even
Published 16 Jul, 2012 12:00am
Recouping tax losses - II

Recouping tax losses - II

It is an incontrovertible fact that the income gap among Pakistanis has been gradually widening and trend of rich becoming richer and the poor, poorer is gaining strength. Generally, analysts have attributed it to economic policy, but they have neglected
Published 16 Jul, 2012 12:00am
Higher judiciary versus the executive

Higher judiciary versus the executive

The Contempt of Court Act 2012 signed into law by President Asif Ali Zardari a day before the Prime Minister was scheduled to give his position on writing a letter to Swiss authorities on the reopening of money laundering cases to the Supreme Court has be
Published 16 Jul, 2012 12:00am
Purpose-specific contempt law

Purpose-specific contempt law

Will the newly enacted contempt of court law help spare Prime Minister Raja Pervez Ashraf the fate of his predecessor's, that's in the realm of speculation. But the very purpose that has brought this law into existence militates against the fundamental
Published 16 Jul, 2012 12:00am
Power generation by provinces, private sector

Power generation by provinces, private sector

According to a Business Recorder exclusive report, the federal government is considering ending the constitutional restriction of not allowing provinces and private sector to generate more than 50 MW without federal approval with the objective o
Published 16 Jul, 2012 12:00am
Punjab Assembly session begins today

Punjab Assembly session begins today

Speaker of the Punjab Assembly Rana Muhammad Iqbal has summoned a session of Punjab Assembly here on Monday (today) at 3pm. The session has been requisitioned by members of opposition benches.
Published 16 Jul, 2012 12:00am
Sandy loam soil good for green gram sowing

Sandy loam soil good for green gram sowing

The Punjab Agriculture Department has advised green gram (Moong) growers that sandy loam soil is good for the cultivation of the crop. A spokesman for the department said on Sunday that farmers should sow approved varieties like Nayyab Moong 2006, Nayyab
Published 16 Jul, 2012 12:00am
One killed in thwarted robbery bid

One killed in thwarted robbery bid

Local residents are said to have thwarted a robbery bid, killing an alleged robber and detaining two of his accomplices in a locality here on Sunday noon. The incident occurred in Haseeb Shaheed Colony on the Sitiana Road.
Published 16 Jul, 2012 12:00am
One shot dead in Mastung

One shot dead in Mastung

Unidentified armed assailants gunned down a person in Dasht area of Mastung district Sunday. Local Levies sources said identity of the deceased could not be ascertained. A Levies party shifted the body to local hospital for identification. The assailants
Published 16 Jul, 2012 12:00am
Lyari people rescued Benazir while Malik deserted her: Palejo

Lyari people rescued Benazir while Malik deserted her: Palejo

Chairman, Awami Tehreek, Ayaz Latif Palejo, on Sunday said that people of Sindh would not allow anybody to divide the province. The meeting was organised by defunct People's Aman Committee and Pakistan Awami Tahreek here on Sunday. Addressing a public mee
Published 16 Jul, 2012 12:00am
Khurshid Shah to finalise Hajj arrangements

Khurshid Shah to finalise Hajj arrangements

Federal Minister for Religious Affairs Syed Khurshid Shah, who is accompanying Prime Minister Raja Pervez Ashraf on his two-day official visit to Saudi Arabia, will finalise Hajj arrangements. Talking to APP, the minister said because of the rapid constru
Published 16 Jul, 2012 12:00am
PPP doesn't want clash with institutions: Kaira

PPP doesn't want clash with institutions: Kaira

Federal Minister for Information and Broadcasting Qamar Zaman Kaira said on Sunday that the PPP-led government did not want clash with institutions as it thought that clash with institutions would play havoc with the country.
Published 16 Jul, 2012 12:00am
'Mango Festival to give world market exposure to growers'

'Mango Festival to give world market exposure to growers'

Punjab Chief Minister Shahbaz Sharif said on Sunday that first `Punjab Mango Festival 2012' would provide an access to mango growers and exporters to international markets and help introduce other agri items of Punjab to the world.
Published 16 Jul, 2012 12:00am
England recall Bopara for Oval Test

England recall Bopara for Oval Test

England recalled Ravi Bopara in a 13-man squad announced Sunday for the first Test against South Africa at The Oval starting on Thursday. Now in line to bat at number six, the seam-bowling all-rounder was given a chance to add to his tally of 12 Test caps
Published 16 Jul, 2012 12:00am
England hold firm in Pietersen stand-off

England hold firm in Pietersen stand-off

Kevin Pietersen must make himself available unconditionally for all England limited overs cricket if he is to help the side defend their World Twenty20 title in Sri Lanka in September, according to coach Andy Flower.
Published 16 Jul, 2012 12:00am
Boucher could play again: doctor

Boucher could play again: doctor

The doctor treating former South Africa wicketkeeper Mark Boucher says he could regain some vision in his left eye and play again. Shuaib Manjra told the Sunday Times tests had not shown any detachment of the retina after the player was hit by a bail last
Published 16 Jul, 2012 12:00am
Taylor ton in vain as West Indies wrap up series

Taylor ton in vain as West Indies wrap up series

New Zealand skipper Ross Taylor smashed a fine century but it was not enough to prevent West Indies wrapping up the One-day series with a 24-run win in Saturday's fourth match. Taylor, playing in his first match of the series after injuring his shoulder i
Published 16 Jul, 2012 12:00am
Ferrer takes fifth title of season

Ferrer takes fifth title of season

In-form Spaniard and top seed David Ferrer won his fifth ATP title of the year here on Sunday beating compatriot Nicolas Almagro 6-2, 6-2. Ferrer, 30 and winning his 16th career title in what was his 31st final, eased to the title against his 26-year-old
Published 16 Jul, 2012 12:00am
Serena routs Cirstea to reach Stanford final

Serena routs Cirstea to reach Stanford final

Top seeded and defending champ Serena Williams destroyed Sorana Cirstea 6-1, 6-2 in one hour on Saturday to reach her second straight final at the WTA hardcourt tournament at Stanford.
Published 16 Jul, 2012 12:00am
Majid Ali beats England's Mann

Majid Ali beats England's Mann

Muhammad Majid Ali of Pakistan notched-up an exciting 4-3 victory over Mitchell Mann of England in the IBSF World U-21 Snooker Championship at Wuxi, (China) on Sunday. It was good win by Majid after he was blanked by local boy Zhu Yinghuiv of China.
Published 16 Jul, 2012 12:00am
Sanchez solos to win as Wiggins waits for Evans

Sanchez solos to win as Wiggins waits for Evans

Spaniard Luis Leon Sanchez handed his stricken Rabobank team a welcome boost by soloing to victory on a memorable the Tour de France 14th stage Sunday. Sanchez, whose team has been decimated by crashes, had been part of an 11-man break which built a 16-mi
Published 16 Jul, 2012 12:00am
Political dispute threatens Pakistan's Olympics hopes

Political dispute threatens Pakistan's Olympics hopes

A dispute between the Pakistan Olympic Association (POA) and the state-operated Pakistan Sports Board (PSB) could threaten the country's participation in London 2012, the head of the POA said on Sunday. The row over a national sports policy will be discus
Published 16 Jul, 2012 12:00am
Fat studies conference challenges supervise stereotypes

Fat studies conference challenges supervise stereotypes

Cat Pause proudly describes herself as "fat", can live with euphemisms like "curvy", "chunky" or "chubby", but baulks at what she believes are value-laden labels such as "overweight" or "obese". The US-born academic is a pioneer in the emerging field of f
Published 16 Jul, 2012 12:00am
Scientists find anti-Alzheimer's gene mutation

Scientists find anti-Alzheimer's gene mutation

Scientists have found a genetic mutation they say protects against Alzheimer's disease and holds promise for a possible treatment for this form of dementia. More than five percent of people over the age of 60 in the Western world are believed to suffer fr
Published 16 Jul, 2012 12:00am
Heavy people more likely to have colon polyps

Heavy people more likely to have colon polyps

Obese and overweight people are more likely to develop colon polyps, a possible precursor to cancer, than slimmer people, according to an international study.
Published 16 Jul, 2012 12:00am
Climate change boosts odds of extreme weather: study

Climate change boosts odds of extreme weather: study

Severe droughts, floods and heat waves rocked the world last year as greenhouse gas levels climbed, boosting the odds of some extreme weather events, international scientists said on July 10. The details are contained in the annual State of the Climate re
Published 16 Jul, 2012 12:00am
Quitting smoking adds even more pounds than thought: study

Quitting smoking adds even more pounds than thought: study

Quitting smoking leads to an average weight gain of four to five kilogrammes (nine to 11 pounds) in the first year - "significantly" more than previously thought, a study said on July 11. Most of the pounds are piled on in the first three months, a team o
Published 16 Jul, 2012 12:00am
ACL injuries may be more common in men: study

ACL injuries may be more common in men: study

Men have a greater number of knee ligament injuries than women, despite research suggesting that women's knees are more prone to anterior cruciate ligament (ACL) tears and surgeries to fix them, according to a Swedish study.
Published 16 Jul, 2012 12:00am
WHO finds virus link to Cambodia mystery disease

WHO finds virus link to Cambodia mystery disease

Health experts working to identify an illness that has killed dozens of children in Cambodia found a link to a virus that causes hand, foot and mouth disease, the UN health agency said on July 09.
Published 16 Jul, 2012 12:00am
More trouble for Yahoo: 450,000 accounts exposed

More trouble for Yahoo: 450,000 accounts exposed

Troubled internet pioneer Yahoo has suffered yet another embarrassing snafu. On Thursday the company acknowledged that hackers had exposed a breach on one of its websites and stolen 450,000 usernames and passwords.
Published 16 Jul, 2012 12:00am
Spending on IT to hit $3.6 trillion this year: Gartner

Spending on IT to hit $3.6 trillion this year: Gartner

Industry tracker Gartner on July 10 said that world-wide spending on information technology (IT) was on pace to hit $3.6 trillion this year despite trouble in the global economy. The revised estimate by Gartner projects that IT spending will be slightly m
Published 16 Jul, 2012 12:00am
Internet doomsday virus appears to fizzle

Internet doomsday virus appears to fizzle

The so-called Internet doomsday virus with the potential to black out tens of thousands of computers world-wide appeared to pose no major problems on July 9 after a temporary fix expired. Security firms reported no significant outages linked to the DNS Ch
Published 16 Jul, 2012 12:00am
Looking for a ride? App connects drivers and passengers

Looking for a ride? App connects drivers and passengers

Drivers with an empty seat in their car can find people in need of a ride through a new app that connects them with potential passengers nearby. SideCar, an on-demand ride-sharing app, lets users request a ride by indicating where they would like to be pi
Published 16 Jul, 2012 12:00am
Phone app allows US users to film police activity

Phone app allows US users to film police activity

A US civil rights advocacy group has launched a free mobile phone application that allows users to record police activity discreetly, saying it will help boost police force accountability. The New Jersey branch of the American Civil Liberties Union (ACLU)
Published 16 Jul, 2012 12:00am
Expert advice to keep kids safe online

Expert advice to keep kids safe online

Law enforcement and technology specialists offered the following advice for parents on keeping children and teens safe online.
Published 16 Jul, 2012 12:00am
Symantec anti-virus update makes some PCs inoperable

Symantec anti-virus update makes some PCs inoperable

A bug in an update of Symantec Corp's anti-virus software caused some Windows PCs to crash, making machines inoperable until they were serviced in an embarrassing episode that angered some customers.
Published 16 Jul, 2012 12:00am
South African farmer equips sheep with cellphones

South African farmer equips sheep with cellphones

A South African farmer is fielding phone calls from his sheep, after equipping them with cell phones to keep tabs on the flock amid recent livestock thefts, according to local press on July 11.
Published 16 Jul, 2012 12:00am
Amazon testing new smartphone

Amazon testing new smartphone

The online retail giant Amazon is testing a new smartphone and may launch production later this year or early next year, the Wall Street Journal reported on July 11. The story, datelined Taipei, said the company is working with Asian component suppliers t
Published 16 Jul, 2012 12:00am
Windows 8 to be released in October

Windows 8 to be released in October

Microsoft is to release its new operating system, Windows 8, to the public in October, the company announced on July 9. The new software, which is designed to help Microsoft compete with Apple and Google on mobile devices, will be available in over 100 la
Published 16 Jul, 2012 12:00am
Apple to release latest iPad in China on July 20

Apple to release latest iPad in China on July 20

Apple on July 10 announced that it will begin selling the latest version of its market-leading iPad in China on July 20. The news comes on the heels of Apple paying $60 million to end a dispute over the iPad name in China, giving the US tech giant more ce
Published 16 Jul, 2012 12:00am
PC sales flat as consumers opt for smartphones, tablets

PC sales flat as consumers opt for smartphones, tablets

PC shipments stagnated in the second quarter of the year as buyers around the world devoted more of their cash to smartphones and tablets, research firm Gardner said in a note published Wednesday. The study said that global PC shipments in the second quar
Published 16 Jul, 2012 12:00am
JLR to launch several sports cars in next two years

JLR to launch several sports cars in next two years

India's Tata Motors-owned British luxury brands Jaguar and Land Rover will launch several sports cars and fuel-efficient engines in the next two years, Tata group chairman Ratan Tata said on July 13.
Published 16 Jul, 2012 12:00am
Huawei eyes deals with Etisalat, Saudi Telecom

Huawei eyes deals with Etisalat, Saudi Telecom

China's Huawei Technologies is in talks with Gulf telcos Etisalat and Saudi Telecom to manage their fixed-line networks, an executive said, potentially cementing its leadership of a $1 billion regional industry.
Published 16 Jul, 2012 12:00am
MCX-SX gets nod to start equity trading in India

MCX-SX gets nod to start equity trading in India

MCX-Stock Exchange won approval from Indian regulators to kick-start trading of stock products, as the bourse operator looks to challenge more established rivals the Bombay Stock Exchange and the National Stock Exchange.
Published 16 Jul, 2012 12:00am
MCX-SX gets nod to start equity trading in India

MCX-SX gets nod to start equity trading in India

MCX-Stock Exchange won approval from Indian regulators to kick-start trading of stock products, as the bourse operator looks to challenge more established rivals the Bombay Stock Exchange and the National Stock Exchange.
Published 16 Jul, 2012 12:00am
M&S posts sliding first quarter sales

M&S posts sliding first quarter sales

British clothing-to-food retailer Marks & Spencer said on July 11 that sales sank in the group's first quarter in difficult trading conditions. Total sales fell 0.7 percent in the 13 weeks to June 20, compared with the same period of the previous financia
Published 16 Jul, 2012 12:00am
HTC second quarter profit falls

HTC second quarter profit falls

Taiwan's top smartphone maker HTC said on July 13 net profit in the three months to June fell 58 percent from a year earlier due to slowing global demand. Net profit in the second quarter came in at Tw$7.4 billion ($247 million), compared with Tw$17.52 bi
Published 16 Jul, 2012 12:00am
HTC second quarter profit falls

HTC second quarter profit falls

Taiwan's top smartphone maker HTC said on July 13 net profit in the three months to June fell 58 percent from a year earlier due to slowing global demand. Net profit in the second quarter came in at Tw$7.4 billion ($247 million), compared with Tw$17.52 bi
Published 16 Jul, 2012 12:00am
Zain Saudi to repay debts with rights issue cash

Zain Saudi to repay debts with rights issue cash

Loss-making Zain Saudi, Saudi Arabia's No 3 telecoms company, launched a $1.6 billion rights issue on July 12 to boost its balance sheet and help it fight back against rivals. The group will use about $200 million of the share issue to repay part of a $2.
Published 16 Jul, 2012 12:00am
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