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Archive - 2007-06-17
EADS seeks to prove itself as a 'normal company'

EADS seeks to prove itself as a 'normal company'

Aerospace group EADS has appealed to European governments to let it prove itself as "a normal company", free of political meddling, as it pushes through painful restructuring at plane maker unit Airbus.
Published 17 Jun, 2007 12:00am
Former China Premier defends Three Gorges Dam

Former China Premier defends Three Gorges Dam

Former Chinese Premier Li Peng has spoken out in defence of the nation's controversial Three Gorges Dam project amid widespread criticism over its environmental and social impact.
Published 17 Jun, 2007 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Saturday (June 16, 2007) and for Sunday (June 17, 2007).
Published 17 Jun, 2007 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (June 16, 2007).

Published 17 Jun, 2007 12:00am
The Weather

The Weather

The weather report on Saturday (June 16, 2007) and the forecast for Sunday (June 17, 2007).
Published 17 Jun, 2007 12:00am
Importers and exporters asked to avail amnesty: customs fines, penalties

Importers and exporters asked to avail amnesty: customs fines, penalties

The Central Board of Revenue (CBR) has asked the importers/exporters to pay the principal amount of customs duty for availing amnesty in payment of fine and penalties by June 30, 2007. Under the scheme notified through SRO 485(I)/2007, importers/exporters
Published 17 Jun, 2007 12:00am
Importers and exporters asked to avail amnesty: customs fines, penalties

Importers and exporters asked to avail amnesty: customs fines, penalties

The Central Board of Revenue (CBR) has asked the importers/exporters to pay the principal amount of customs duty for availing amnesty in payment of fine and penalties by June 30, 2007. Under the scheme notified through SRO 485(I)/2007, importers/exporters
Published 17 Jun, 2007 12:00am
Importers and exporters asked to avail amnesty: customs fines, penalties

Importers and exporters asked to avail amnesty: customs fines, penalties

The Central Board of Revenue (CBR) has asked the importers/exporters to pay the principal amount of customs duty for availing amnesty in payment of fine and penalties by June 30, 2007. Under the scheme notified through SRO 485(I)/2007, importers/exporters
Published 17 Jun, 2007 12:00am
Importers and exporters asked to avail amnesty: customs fines, penalties

Importers and exporters asked to avail amnesty: customs fines, penalties

The Central Board of Revenue (CBR) has asked the importers/exporters to pay the principal amount of customs duty for availing amnesty in payment of fine and penalties by June 30, 2007. Under the scheme notified through SRO 485(I)/2007, importers/exporters
Published 17 Jun, 2007 12:00am
AJK Budget on June 21

AJK Budget on June 21

The Azad Kashmir budget 2007-8 would be presented in Azad Jammu and Kashmir Legislative Assembly on 21 June. Raja Nisar Ahmad Khan Finance Minister would present the budget in the assembly. The opposition is drawing its strategy to give tough time to the
Published 17 Jun, 2007 12:00am
AJK Budget on June 21

AJK Budget on June 21

The Azad Kashmir budget 2007-8 would be presented in Azad Jammu and Kashmir Legislative Assembly on 21 June. Raja Nisar Ahmad Khan Finance Minister would present the budget in the assembly. The opposition is drawing its strategy to give tough time to the
Published 17 Jun, 2007 12:00am
AJK Budget on June 21

AJK Budget on June 21

The Azad Kashmir budget 2007-8 would be presented in Azad Jammu and Kashmir Legislative Assembly on 21 June. Raja Nisar Ahmad Khan Finance Minister would present the budget in the assembly. The opposition is drawing its strategy to give tough time to the
Published 17 Jun, 2007 12:00am
AJK Budget on June 21

AJK Budget on June 21

The Azad Kashmir budget 2007-8 would be presented in Azad Jammu and Kashmir Legislative Assembly on 21 June. Raja Nisar Ahmad Khan Finance Minister would present the budget in the assembly. The opposition is drawing its strategy to give tough time to the
Published 17 Jun, 2007 12:00am
Lightning kills 18 in Swat

Lightning kills 18 in Swat

Lightning during heavy monsoon rains Saturday struck a remote village in swat valley, killing at least 18 people and leaving several others injured, officials said. The deadliest strike occurred overnight and Saturday morning in the tiny hamlet of Matta t
Published 17 Jun, 2007 12:00am
Lightning kills 18 in Swat

Lightning kills 18 in Swat

Lightning during heavy monsoon rains Saturday struck a remote village in swat valley, killing at least 18 people and leaving several others injured, officials said. The deadliest strike occurred overnight and Saturday morning in the tiny hamlet of Matta t
Published 17 Jun, 2007 12:00am
FBR Act to empower tax officials to frame human resource policy

FBR Act to empower tax officials to frame human resource policy

The proposed Federal Board of Revenue (FBR) Act 2007 would empower the tax officials to formulate policy for performance management rewards, incentives packages, golden handshake scheme and integrated management policy for the tax machinery.
Published 17 Jun, 2007 12:00am
FBR Act to empower tax officials to frame human resource policy

FBR Act to empower tax officials to frame human resource policy

The proposed Federal Board of Revenue (FBR) Act 2007 would empower the tax officials to formulate policy for performance management rewards, incentives packages, golden handshake scheme and integrated management policy for the tax machinery.
Published 17 Jun, 2007 12:00am
FBR Act to empower tax officials to frame human resource policy

FBR Act to empower tax officials to frame human resource policy

The proposed Federal Board of Revenue (FBR) Act 2007 would empower the tax officials to formulate policy for performance management rewards, incentives packages, golden handshake scheme and integrated management policy for the tax machinery.
Published 17 Jun, 2007 12:00am
Pakistan earns $24 million annually from mango export

Pakistan earns $24 million annually from mango export

Pakistan earns about 24 million dollar annually from mango export, an official Ministry of Food, Agriculture and Livestock told APP on Saturday. Mango is the second major fruit crop grown on an area of over 93,000 hectares with a production of the 915,000
Published 17 Jun, 2007 12:00am
CBR chief, steel importers meet on June 18

CBR chief, steel importers meet on June 18

Central Board of Revenue (CBR) Chairman Abdullah Yousuf has assured the steel importers of his support by pledging that he will look into the matter of Sales Tax and other taxes.
Published 17 Jun, 2007 12:00am
CBR chief, steel importers meet on June 18

CBR chief, steel importers meet on June 18

Central Board of Revenue (CBR) Chairman Abdullah Yousuf has assured the steel importers of his support by pledging that he will look into the matter of Sales Tax and other taxes.
Published 17 Jun, 2007 12:00am
CBR chief, steel importers meet on June 18

CBR chief, steel importers meet on June 18

Central Board of Revenue (CBR) Chairman Abdullah Yousuf has assured the steel importers of his support by pledging that he will look into the matter of Sales Tax and other taxes.
Published 17 Jun, 2007 12:00am
All set for HPFL bidding on June 18

All set for HPFL bidding on June 18

Privatisation Commission is all set to hold bidding for the privatisation of minimum of 90 percent shares of Hazara Phosphate Fertilisers Ltd (HPFL) on Monday June 18, 2007 at the Privatisation Commission Hall, Islamabad at 11 am.
Published 17 Jun, 2007 12:00am
All set for HPFL bidding on June 18

All set for HPFL bidding on June 18

Privatisation Commission is all set to hold bidding for the privatisation of minimum of 90 percent shares of Hazara Phosphate Fertilisers Ltd (HPFL) on Monday June 18, 2007 at the Privatisation Commission Hall, Islamabad at 11 am.
Published 17 Jun, 2007 12:00am
All set for HPFL bidding on June 18

All set for HPFL bidding on June 18

Privatisation Commission is all set to hold bidding for the privatisation of minimum of 90 percent shares of Hazara Phosphate Fertilisers Ltd (HPFL) on Monday June 18, 2007 at the Privatisation Commission Hall, Islamabad at 11 am.
Published 17 Jun, 2007 12:00am
Fatwa issued against fashion magazine

Fatwa issued against fashion magazine

The cleric at Lal Masjid has issued a death decree against magazine staff for publishing a fashion-shoot advertisement entitled "Adam and Eve". The decree, known as a fatwa, against the chief editor, publisher and other staffers of an English language mag
Published 17 Jun, 2007 12:00am
Fatwa issued against fashion magazine

Fatwa issued against fashion magazine

The cleric at Lal Masjid has issued a death decree against magazine staff for publishing a fashion-shoot advertisement entitled "Adam and Eve". The decree, known as a fatwa, against the chief editor, publisher and other staffers of an English language mag
Published 17 Jun, 2007 12:00am
SBP mops up Rs 12.7 billion in OMO

SBP mops up Rs 12.7 billion in OMO

The State Bank of Pakistan (SBP) sold Rs 12.7 billion worth of Treasury bills on Saturday in a five-day repo operation at 8.50 percent to mop up funds from the money market.
Published 17 Jun, 2007 12:00am
SBP mops up Rs 12.7 billion in OMO

SBP mops up Rs 12.7 billion in OMO

The State Bank of Pakistan (SBP) sold Rs 12.7 billion worth of Treasury bills on Saturday in a five-day repo operation at 8.50 percent to mop up funds from the money market.
Published 17 Jun, 2007 12:00am
SBP mops up Rs 12.7 billion in OMO

SBP mops up Rs 12.7 billion in OMO

The State Bank of Pakistan (SBP) sold Rs 12.7 billion worth of Treasury bills on Saturday in a five-day repo operation at 8.50 percent to mop up funds from the money market.
Published 17 Jun, 2007 12:00am
SBP mops up Rs 12.7 billion in OMO

SBP mops up Rs 12.7 billion in OMO

The State Bank of Pakistan (SBP) sold Rs 12.7 billion worth of Treasury bills on Saturday in a five-day repo operation at 8.50 percent to mop up funds from the money market.
Published 17 Jun, 2007 12:00am
CDGR to construct modern hospital in every union councils

CDGR to construct modern hospital in every union councils

The City District Government Rawalpindi (CDGR) would allocate sufficient funds in the next fiscal year budget for construction of hospitals, roads and schools in the district, said City District Nazim Raja Javed Ikhlas on Saturday.
Published 17 Jun, 2007 12:00am
'Pakistan committed to economic and political reforms'

'Pakistan committed to economic and political reforms'

The United States has hailed Pakistan as a modernising state, committed to economic and political reforms, crediting President Pervez Musharraf with leading the way and also welcoming the fact that "people are free to express their opinions".
Published 17 Jun, 2007 12:00am
Kasuri leaves for Washington

Kasuri leaves for Washington

Foreign Minister Khurshid M. Kasuri leaves Sunday to discuss with his US counterpart Condoleezza Rice co-operation in counter-terrorism, situation in Afghanistan, composite dialogue with India, the Middle East peace process and Iraq.
Published 17 Jun, 2007 12:00am
Pak-US strategic dialogue moot in Islamabad this year

Pak-US strategic dialogue moot in Islamabad this year

Foreign Secretary Riaz Mohammad Khan hosted, the visiting US Deputy Secretary of State, John D Negroponte, a working luncheon at the Foreign Office today. The discussions focused on bilateral matters and regional issues.
Published 17 Jun, 2007 12:00am
Traders' help sought to remove encroachments

Traders' help sought to remove encroachments

The removal of encroachments without active co-operation of the business community would remain a dream, said Rawal Town Nazim Rashid Shafique here on Saturday. Traders of Murree Road and Raja Bazar should not allow anyone to encroach the roads, streets a
Published 17 Jun, 2007 12:00am
Rs 350 million Cast Metal Technology Centre soon

Rs 350 million Cast Metal Technology Centre soon

The Federal government is spending Rs 350 million on setting up of "Cast Metal Technology Testing and Training Centre" in mini-industrial estate in Daska district.
Published 17 Jun, 2007 12:00am
KCCI must hold single country exhibitions in Iran: Zamani

KCCI must hold single country exhibitions in Iran: Zamani

Karachi Chamber of Commerce and Industry (KCCI) must hold single country exhibitions of Pakistan at Tehran, Mashad and other cities of Iran to introduce Pakistani products in the Iranian market.
Published 17 Jun, 2007 12:00am
CAMS-LSBU sign accord

CAMS-LSBU sign accord

An agreement was signed between CAMS and London South Bank University (UK) which entails a strategic alliance between the two institutions. According to this Memorandum of Co-operation (MoC), students at various levels of ACCA at CAMS shall receive advanc
Published 17 Jun, 2007 12:00am
KCCI suggests proper solid waste management

KCCI suggests proper solid waste management

The Karachi Chamber of Commerce and Industry (KCCI) has suggested that for disposal of solid waste, separately identified trash cans with different colour be placed in different industries locations.
Published 17 Jun, 2007 12:00am
Meeting discussed water shortage issue of Site area

Meeting discussed water shortage issue of Site area

In an emergent meeting called at SITE Association office on Saturday on intervention of City Nazim Mustafa Kamal to discuss the short supply of water from the available sources at Karachi Water and Sewerage Board end. It was resolved that KW&SB would augm
Published 17 Jun, 2007 12:00am
Reap plans to re-capture Middle East markets

Reap plans to re-capture Middle East markets

The Rice Exporters Association of Pakistan (Reap) has planned to capture new markets especially in Europe and Africa and to re-capture the Middle East markets for Pakistani rice.
Published 17 Jun, 2007 12:00am
Mushahid and Shujaat apprised of textile sector's problems

Mushahid and Shujaat apprised of textile sector's problems

The representatives of All Pakistan Textile Association (APTA), led by the chairman Adil Mehmood, have met Pakistan Muslim League Chief Chaudhry Shujaat Hussain, Secretary General Mushahid Hussain and Senate Standing Committee on Finance, Revenue and Econ
Published 17 Jun, 2007 12:00am
TDAP to assist textile, apparel sector

TDAP to assist textile, apparel sector

The Marketing and Business Development Division of TDAP in its initiative to assist the Textile and Apparel sector in Pakistan in order to reposition it for long-term competitiveness in world markets undertook the presentations of the actively participati
Published 17 Jun, 2007 12:00am
Psychiatric awareness drive

Psychiatric awareness drive

With a view to creating awareness among the people about psychiatric awareness, Department of Psychiatry, Sir Ganga Ram Hospital, organised a "Community Education Program" here on Friday.
Published 17 Jun, 2007 12:00am
CDGK to rise KMC shops rent every year by five percent

CDGK to rise KMC shops rent every year by five percent

The judicious decision was taken by City Nazim Syed Mustafa Kamal with the support and encouragement of Governor of Sindh Dr Ishratul Ibad Khan helped to resolve the contentious issue of increase in rent for the tenants of the 91 KMC markets.
Published 17 Jun, 2007 12:00am
Daewoo to run buses in Karachi

Daewoo to run buses in Karachi

City Nazim Karachi, Syed Mustafa Kamal has offered the Daewoo Company to initiate bus service in the metropolis. Kamal assured that city government will support the company to start bus services and urged that it should initiate services with CNG buses.
Published 17 Jun, 2007 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

Prime Minister Shaukat Aziz comes to the House regularly. However, his visits have created no impact on the attendance of National Assembly or Senators, or ministers. The Chambers of National Assembly and the Senate are still near empty and we find no mor
Published 17 Jun, 2007 12:00am
Mango show in Rahimyar Khan from June 23

Mango show in Rahimyar Khan from June 23

The three-day annual exhibition of mango called " Mango Show" will be held here under the aegis of the district agriculture department from June 23 to 25. This was stated by District Officer, Agriculture (DOA), Arshad Javaid while talking to APP here on S
Published 17 Jun, 2007 12:00am
Pemra and PBA meeting next week

Pemra and PBA meeting next week

A meeting between the representatives of Pakistan Broadcasting Association (PBA), the government and Pakistan Electronic Media Regulatory Authority (Pemra) expected to be held next week. Today's meeting was postponed on the request of PBA members.
Published 17 Jun, 2007 12:00am
Mega projects to help develop Balochistan: Prime Minister

Mega projects to help develop Balochistan: Prime Minister

Prime Minister Shaukat Aziz on Saturday said a series of mega and small development projects launched by the government will bring gradual improvement in Balochistan. Talking to a delegation from Balochistan led by Hafiz Hussain Ahmad at the Parliament Ho
Published 17 Jun, 2007 12:00am
Hilal-e-Imtiaz conferred to Hassan Abdal Cadet College founder

Hilal-e-Imtiaz conferred to Hassan Abdal Cadet College founder

Prime Minister Shaukat Aziz on Friday conferred Hilal-e-Imtiaz (posthumous) on Hugh Catchpole, founder Principal of Cadet College, Hassan Abdal, for his lifelong contribution, incomparable, selfless and single-minded dedication to the cause of qual
Published 17 Jun, 2007 12:00am
Shujaat rules out change in party leadership

Shujaat rules out change in party leadership

Former Prime Minister and Pakistan Muslim League (PML) President Chaudhry Shujaat Hussain on Saturday categorically stated that there would be no change in the PML (Q) top office-bearers. "Mushahid Hussain and I have won these slots through proper electio
Published 17 Jun, 2007 12:00am
Electronic Channels' transmission never blocked: Durrani

Electronic Channels' transmission never blocked: Durrani

Federal Minister for Information and Broadcasting Muhammad Ali Durrani on Saturday said that neither the government nor Pemra has ever blocked the transmission of electronic channels anywhere in the country.
Published 17 Jun, 2007 12:00am
Minister serves notice on news agency

Minister serves notice on news agency

Minister for Information Technology, Awais Leghari on Saturday said a legal notice, under defamation law, has been served to a news agency which released a news item to some newspapers regarding his alleged involvement in Kafila Siddiqui case.
Published 17 Jun, 2007 12:00am
Auqaf provides Rs one million to minority students

Auqaf provides Rs one million to minority students

The Punjab Auqaf Department has provided an amount of Rs 1 million as education stipends to 350 minority students during the current fiscal year 2006-07. This was stated by Auqaf minister, Saeed-ul-Hassan Shah while talking to members of provincial inter-
Published 17 Jun, 2007 12:00am
Lawyers continue observing strike

Lawyers continue observing strike

The lawyers observed token strike here in the metropolis in protest against the suspension of Chief Justice of Pakistan Iftikhar Muhammad Chaudhry and did not appear before the courts for one hour.
Published 17 Jun, 2007 12:00am
Musharraf and Altaf responsible for May 12 violence: Imran

Musharraf and Altaf responsible for May 12 violence: Imran

Chief of Tehrik-i-Insaf Imran Khan has said that the MQM leader Altaf Hussain and President General Pervez Musharraf are responsible for the May 12 violence in Karachi. In an interview with a private TV channel, he said the government was not initiating i
Published 17 Jun, 2007 12:00am
Acting NWFP governor takes oath

Acting NWFP governor takes oath

Chief Justice of Peshawar High Court (PHC), Justice Tariq Parvez Khan, took oath as acting Governor of NWFP at governor's house here on Saturday. Senior Judge of the PHC, Justice Shahjehan Khan, administered the oath. NWFP Governor, Lieutenant General Ali
Published 17 Jun, 2007 12:00am
Fata's ADP raised to Rs 10 billion

Fata's ADP raised to Rs 10 billion

Fata's annual development programme has been raised to Rs 10 billion for the next financial year and this will greatly raise the development process in the tribal areas.
Published 17 Jun, 2007 12:00am
Health Authority for AJK soon

Health Authority for AJK soon

Health Regulatory Authority (HRA) is being constituted soon in Azad Jammu and Kashmir to streamline the working and performance of the hospitals running in the private sector harmonious to the need of modern age.
Published 17 Jun, 2007 12:00am
ECP list misses 20 million voters names, claims PPP

ECP list misses 20 million voters names, claims PPP

Pakistan Peoples Party has questioned the accuracy and credibility of the provisional voters list issued in piecemeal form by the Election Commission of Pakistan. The provisional voters list issued by the ECP early this week misses at least 20 million vot
Published 17 Jun, 2007 12:00am
Hafiz Hussain Ahmed ends protest

Hafiz Hussain Ahmed ends protest

Muttahida Majlis-i-Amal (MMA) key leader and Member National Assembly Hafiz Hussain Ahmed on Saturday ended his five day long protest after efforts of Pakistan Muslim League (PML) President and Secretary and a meeting with Prime Minister, Shaukat Aziz.
Published 17 Jun, 2007 12:00am
Rs 350 million approved for replacing water pipelines

Rs 350 million approved for replacing water pipelines

Punjab government has approved a special grant of Rs 350 million for replacing rusty and rotten water pipelines in Sialkot city. Official sources told Business Recorder here on Saturday that work on this project would soon be initiated in the area.
Published 17 Jun, 2007 12:00am
Poverty reduction: 'Pakistan can benefit from Chinese expertise'

Poverty reduction: 'Pakistan can benefit from Chinese expertise'

Pakistan can get benefit from the experience of China for poverty reduction, said one of the Pakistan delegates attended here a seminar on poverty alleviation. The two-week seminar on "Poverty policy and practice" was hosted by International Poverty Reduc
Published 17 Jun, 2007 12:00am
Ibad lays foundation stone of KESC 220 megawatts plant

Ibad lays foundation stone of KESC 220 megawatts plant

Sindh Governor Dr Ishratul Ibad Khan laid the foundation stone of a 220 MW Power Plant at Korangi thermal power station of the Karachi Electric Supply Corporation (KESC) generation plan Phase-I, to meet the growing demand for energy.
Published 17 Jun, 2007 12:00am
CDGK seeks Iranian firm's help

CDGK seeks Iranian firm's help

The City District Government of Karachi (CDGK) has asked an Iranian investment company for technological help in solid waste management, infrastructure and transport sectors.
Published 17 Jun, 2007 12:00am
Sindh Budget: IT sector gets Rs 75 million

Sindh Budget: IT sector gets Rs 75 million

The Sindh government has provided Rs 75 million for Information Technology Department in the next financial year's budget. According to the break-up, Rs 20 million would be consumed for the establishment of call centres. Rs 10 million have been provided f
Published 17 Jun, 2007 12:00am
Sindh Budget: IT sector gets Rs 75 million

Sindh Budget: IT sector gets Rs 75 million

The Sindh government has provided Rs 75 million for Information Technology Department in the next financial year's budget. According to the break-up, Rs 20 million would be consumed for the establishment of call centres. Rs 10 million have been provided f
Published 17 Jun, 2007 12:00am
Seminar

Seminar

A one day seminar on "Agro-based community and their problems" held at a local hotel Hyderabad on Saturday organised by the management of the provincial Ombudsman.
Published 17 Jun, 2007 12:00am
Canal system in three districts of Sindh given to Rangers

Canal system in three districts of Sindh given to Rangers

The control of canal system of three districts of lower Sindh- Badin, Thatta and Tando Muhammad Khan has been handed over to 31st Wing of Rangers. Wing Commander Syed Imtiaz Hussain Shah has summoned meeting of related executive engineers of canals to cha
Published 17 Jun, 2007 12:00am
Dacoits kill two bank guards, loot Rs 1.6 million

Dacoits kill two bank guards, loot Rs 1.6 million

Unidentified bandits robbed Rs 1.6 million cash from a bank and gunned down two security guards on showing resistance and injured bank manager in limits of Ferozabad police station on Saturday.
Published 17 Jun, 2007 12:00am
CAA and IBM sign accord

CAA and IBM sign accord

Farooq Rahmatullah, Director General, Civil Aviation Authority & M. Shoaib Khan Country Sales Executive, IBM signed an agreement on Saturday at Headquarters Civil Aviation Authority (CAA) for the consultancy of Enterprise Resource Planning (ERP) implement
Published 17 Jun, 2007 12:00am
Fuel Pack invented for thermal power

Fuel Pack invented for thermal power

Gul Bahao, an NGO working to transform thrash and garbage of the city into useful form, has said 'Fuel Pack' that it has made from waste material could help resolve acute problems of electricity, the city is facing.
Published 17 Jun, 2007 12:00am
Transport authority for Karachi planned

Transport authority for Karachi planned

The establishment of a service providing transport authority under the Karachi Mega City Sustainable Development Programme (KMCSDP) was planned in a consultative debate on a draft roadmap at Multi-Stakeholders Workshop.
Published 17 Jun, 2007 12:00am
LHC takes note of non-compliance of orders

LHC takes note of non-compliance of orders

Justice Syed Shabbar Raza Rizvi of the Lahore High Court (LHC) has ordered the Chief Secretary Punjab to seek explanation of Secretary Health for his failure to comply with the court orders and submit his report to the court by June 22.
Published 17 Jun, 2007 12:00am
NBP initiates training programme

NBP initiates training programme

National Bank of Pakistan (NBP) President S Ali Raza has said that quality human resource is the bedrock for any organisation. He stated this while addressing sixth batch of newly inducted 130 management trainees, said a press release here on Friday.
Published 17 Jun, 2007 12:00am
Intelligence agencies come under fire in National Assembly

Intelligence agencies come under fire in National Assembly

The national intelligence agencies came under fire in the National Assembly on Saturday when a ruling PML MNA, Rehana Aleem Mushhadi, accused them of political interference in her speech on the fourth day of debate on national budget.
Published 17 Jun, 2007 12:00am
Opposition demands release of activists

Opposition demands release of activists

The provincial leaders of different opposition parties have warned government that they would launch a protest movement if government failed to release detained activists of different political parties by June 22.
Published 17 Jun, 2007 12:00am
Prospects exist for Pak-Russia cooperation development: envoy

Prospects exist for Pak-Russia cooperation development: envoy

Sergey N Peskov, Ambassador of Russian Federation in Pakistan, has said that there is substantial potential for the development of Pak-Russian co-operation in the areas of oil, gas, modernisation of Soviet-built enterprises and construction industry.
Published 17 Jun, 2007 12:00am
Milk adulteration assumes alarming proportions

Milk adulteration assumes alarming proportions

Adulteration of milk was a serious problem in Pakistan while the WTO-Quality Control Laboratory of the University of Veterinary and Animal Sciences (UVAS) had developed various techniques to test adulteration in milk.
Published 17 Jun, 2007 12:00am
Ghana Stock Exchange team visits LSE

Ghana Stock Exchange team visits LSE

A delegation of the Ghana Stock Exchange, led by Frank B. Adu Jnr. Managing Director Cal Bank Limited accompanied by Ekow Afedzie General Manager and Augustine Simons, Head of Information Technology Ghana Stock Exchange, visited the Lahore Stock Exchange
Published 17 Jun, 2007 12:00am
New Zealand army team visits Lahore

New Zealand army team visits Lahore

Lieutenant General Jeremiah (Chief of Defence Forces New Zealand) along with his entourage visited the Corps Headquarters and called on Corps Commander Lieutenant General Shafaat Ullah Shah at his office here on Saturday.
Published 17 Jun, 2007 12:00am
Apta accuses Aptma of discrimination

Apta accuses Aptma of discrimination

The spokesman of All Pakistan Textile Association (Apta) Tanveer Sheikh has alleged that All Pakistan Textile Mills Association (Aptma) is refusing to grant the certification of various commercial documents for example Export Price Cheque (EPC) certificat
Published 17 Jun, 2007 12:00am
Construction of Sialkot Business Centre starts

Construction of Sialkot Business Centre starts

The construction work on Sialkot Business and Commerce Centre, costing Rs 180 million, has started. The SCCI sources told Business Recorder here on Saturday.
Published 17 Jun, 2007 12:00am
MQM reopens offices in Punjab

MQM reopens offices in Punjab

The Muttahida Qaumi Movement (MQM) has reopened its offices in Southern Punjab and started to convince the people to join MQM and its office-bearers have started visiting districts in Punjab to clear its name of the violence in Karachi on May 12. MQM sour
Published 17 Jun, 2007 12:00am
Free IT education for Madressah students pledged

Free IT education for Madressah students pledged

Punjab Auqaf Minister Sahibzada Syed Saeedul Hassan Shah has said that a composite plan has been devised to provide free of cost computer education to the seminary students. The purpose is to enable the seminaries to become part of national mainstream, be
Published 17 Jun, 2007 12:00am
2008 census to ensure gender equity, says CCC

2008 census to ensure gender equity, says CCC

Pakistan Government has planned to hold population census in 2008 in a transparent manner, to ensure the gender equity in the country, said Karam Elahi, Chief Census Commissioner, at the sensitisation workshop on 'Census and Gender Equity' on Saturday.
Published 17 Jun, 2007 12:00am
CJP to visit Multan on June 23

CJP to visit Multan on June 23

Chief Justice of Pakistan (CJP) Iftikhar Muhammad Chaudhry is due in Multan on June 23 to address the High Court Bar Association (HCBA). The programme for the occasion is being finalised and security arrangement also being increased throughout the city to
Published 17 Jun, 2007 12:00am
Company set up to boost furniture exports

Company set up to boost furniture exports

A company 'Furniture Pakistan' has been established at a cost of Rs 590 million with an aim of setting up a training institute and producing skilled manpower to give a boost to the furniture exports.
Published 17 Jun, 2007 12:00am
'Direct taxes receipts exceed target due to reforms'

'Direct taxes receipts exceed target due to reforms'

The collection in direct taxes surpassed the target of Rs 265 billion to Rs 318 billion during the current financial year, which is the highest at 42 percent of federal revenue total.
Published 17 Jun, 2007 12:00am
Youth leadership training workshop held in Bahawalpur

Youth leadership training workshop held in Bahawalpur

Under its leadership programme, Global Organisation for Human Empowerment and Rights conducted a six-day youth leadership training course at Global Institute of Social Advancement Bahawalpur in which as many as 30 young students of colleges and universiti
Published 17 Jun, 2007 12:00am
CAA clarifies

CAA clarifies

Civil Aviation Authority (CAA) Lahore on Saturday clarified that all the transfers of its officials are made from CAA headquarters in Karachi and reports alleging Regional Director (RD) North Pervez Nawaz Khan to get someone transferred from Lahore are ba
Published 17 Jun, 2007 12:00am
Wapda issues interview schedule

Wapda issues interview schedule

Water and Power Development Authority (Wapda) has issued the schedule for the interviews for induction of Junior Engineers in National Transmission and Dispatch Company (NTDC) According to details the scheduled is as under:
Published 17 Jun, 2007 12:00am
Spontaneous outburst of patriotism

Spontaneous outburst of patriotism

According to a Recorder Report from Islamabad, the government, on Wednesday, sought the help of the Parliament to send a 'strong' message to the Karachi Electric Supply Company (KESC) on its failure to overcome the lingering power crisis in the cou
Published 17 Jun, 2007 12:00am
Housing for government employees

Housing for government employees

Delivering the 2007-08 Budget speech in the National Assembly, Minister of State for Finance Omar Ayub Khan said that the Ministry of Housing and Works would construct 37,000 housing units for low-paid government employees and transfer the units to them o
Published 17 Jun, 2007 12:00am
Partnership for clean energy

Partnership for clean energy

Wind power for Egypt, geothermal power for Kenya, biogas for Nepal, water power for Indonesia: four countries and four examples of international energy partnerships with Germany. The goal of these collaborations is to promote renewable energy sources and
Published 17 Jun, 2007 12:00am
US marines banking on Fallujah police

US marines banking on Fallujah police

A seven-tonne truck sits idling beneath the night sky corralled by six US Humvees -- it is carrying 45 billion Iraqi dinars (35 million dollars) in cash, the wages for much of the Fallujah area. In a rare experiment for the rebel-ridden western province o
Published 17 Jun, 2007 12:00am
Africa is cautious about G8 results: 'not much has changed'

Africa is cautious about G8 results: 'not much has changed'

The critics fastest off the mark after the G8 summit in Heiligendamm, Germany, were - as usual -from Europe. Only hours after the meeting of the industrialised nations ended Saturday, they agreed that the summit results were too vague regarding Africa. By
Published 17 Jun, 2007 12:00am
Why does Imran Khan seek selective justice?

Why does Imran Khan seek selective justice?

Imran Khan has suddenly moved from talk to action. He wants to sue Altaf Husain on several counts. But why only Altaf? Why not also Benazir Bhutto and Nawaz Sharif, who too have charges pending against them? (They also filed charges of massive corruption
Published 17 Jun, 2007 12:00am
NIRC stops observing strikes: PTCL

NIRC stops observing strikes: PTCL

The National Industrial Relations Commission (NIRC) has stopped certain groups/people from observing strike and stated categorically that strike call given by them was unlawful. According to a PTCL release issued here on Saturday.
Published 17 Jun, 2007 12:00am
Draft of IFRS for SMEs discussed

Draft of IFRS for SMEs discussed

Association of Certified Chartered Accountants (ACCA), Pakistan organised a roundtable "Putting Small Business First" at a hotel here on Friday. The aim of the roundtable was to discuss and formulate an opinion on the Exposure Draft of International Finan
Published 17 Jun, 2007 12:00am
President informs Centcom chief of anti-extremism steps in Fata

President informs Centcom chief of anti-extremism steps in Fata

President General Pervez Musharraf on Saturday informed the visiting Chief of US Central Command (Centcom) about 'the comprehensive steps which have been taken to curb the spread of extremism and terrorism in Federally Administrated Tribal Areas (Fata)'.
Published 17 Jun, 2007 12:00am
Father's Day being observed today

Father's Day being observed today

Father's day is being celebrated throughout the world to show great reverence and respect to fathers. The Sunday is Father's Day. Many honour their fathers or grandfathers on this day. It should be a day to celebrate your dad's life and achievements, priv
Published 17 Jun, 2007 12:00am
Concern voiced over UK counter-terrorism laws

Concern voiced over UK counter-terrorism laws

Although Britain possesses deep knowledge and a "great wealth of experience" in handling religious tensions and terrorist acts, a UN independent expert on Friday voiced concern over laws which have been promulgated following recent terrorist attacks.
Published 17 Jun, 2007 12:00am
Canadian ambassador visit AJK

Canadian ambassador visit AJK

The Canadian Ambassador in Pakistan David B Collins and his wife Jacquie Collins reached here on Friday evening for a day's visit. Canadian Secretary for International Development Barabara Humick accompanied them.
Published 17 Jun, 2007 12:00am
Algerian parliamentary team due today

Algerian parliamentary team due today

A seven-member Algerian Parliamentary delegation, led by President of the Council of Nation (Senate) of Algeria Abedelkader Bensalah, is arriving here on Sunday (June 17) on a weeklong visit to Pakistan. The invitation to Algerian Senate chief was extende
Published 17 Jun, 2007 12:00am
Rs 10 billion allocated for roads in Sindh: minister

Rs 10 billion allocated for roads in Sindh: minister

Sindh Development and Construction Minister Shoaib Bukhari has said that Rs 10 billion has been allocated for development of roads and communication system in the Sindh Budget 2007-08. Talking to PTV, he said 434-km roads were resurfaced and 389-km new ro
Published 17 Jun, 2007 12:00am
Hundreds flee Gaza

Hundreds flee Gaza

Hundreds of Fatah supporters fled the Hamas-controlled Gaza Strip by land and sea on Saturday and the Islamist group threatened to take its fight against Palestinian President Mahmoud Abbas's forces to the West Bank.
Published 17 Jun, 2007 12:00am
US to lift sanctions on new Abbas government

US to lift sanctions on new Abbas government

The United States plans to lift a ban on direct aid to the emergency government that Palestinian President Mahmoud Abbas is forming following Hamas's take-over of the Gaza Strip, Washington's envoy said on Saturday.
Published 17 Jun, 2007 12:00am
Quartet backs Abbas

Quartet backs Abbas

The "quartet" of Middle East peace mediators voiced strong support for Palestinian President Mahmoud Abbas on Saturday amid signs it is likely to soon ease its ban on direct aid to the Palestinian Authority.
Published 17 Jun, 2007 12:00am
US woman astronaut sets new record

US woman astronaut sets new record

A US astronaut of Indian heritage made history early Saturday when she set a new record for the longest uninterrupted space flight by a woman. At 1:47 am (0547 GMT), International Space Station (ISS) engineer Suni Williams surpassed the 188-day, 4-hour ma
Published 17 Jun, 2007 12:00am
Ten Indian hostages freed

Ten Indian hostages freed

Militants released 10 Indian hostages in Nigeria's oil-producing delta as thousands welcomed the return of a rebel leader to the region's capital on Saturday.
Published 17 Jun, 2007 12:00am
North Korea invites IAEA team

North Korea invites IAEA team

North Korea has invited a delegation of the United Nations nuclear watchdog to visit the country in what could be a first step toward implementing an international agreement intended to curb its nuclear programme.
Published 17 Jun, 2007 12:00am
US tightens controls on military-use items to China

US tightens controls on military-use items to China

The United States is imposing new export controls on high-tech goods ranging from aircraft to space communication systems that could be used by China's rapidly expanding military, the US Commerce Department said late Friday.
Published 17 Jun, 2007 12:00am
Gates pushes Iraq's leaders on reconciliation

Gates pushes Iraq's leaders on reconciliation

US Defence Secretary Robert Gates met Iraqi leaders on Saturday to tell them Washington was disappointed with their efforts to reconcile warring factions. Gates, who flew into Baghdad on Friday night, was briefed by US commanders on a US troop build-up in
Published 17 Jun, 2007 12:00am
Sistani urges end to attacks on mosques

Sistani urges end to attacks on mosques

Iraq's top Shia cleric Grand Ayatollah Ali al-Sistani on Saturday condemned attacks on Sunni mosques in the southern city of Basra and called for a halt to such violence. The attacks have been apparent reprisals against Sunnis after militants blew up the
Published 17 Jun, 2007 12:00am
Four killed in Taliban suicide attack

Four killed in Taliban suicide attack

Taliban suicide bombers launched a second day of attacks in Afghanistan on Saturday, killing at least four people in the capital and a northern city, raising tensions in areas that had been considered relatively secure.
Published 17 Jun, 2007 12:00am
Shoaib Akhtar and Younis recalled

Shoaib Akhtar and Younis recalled

Pakistan fast bowler Shoaib Akhtar and batsman Younis Khan have been recalled in a 15-man squad for next month's one-dayers against India and Scotland. Akhtar was dropped for the World Cup because of injury problems that have allowed him to play only four
Published 17 Jun, 2007 12:00am
Pakistan invite Whatmore, Lawson and Done for interview

Pakistan invite Whatmore, Lawson and Done for interview

Pakistan cricket authorities have shortlisted three former Australian players for the job of coaching the national team, a senior official said on Saturday. The Pakistan Cricket Board (PCB) is searching for a foreign coach to replace former England player
Published 17 Jun, 2007 12:00am
Baghdatis reaches Halle Open final

Baghdatis reaches Halle Open final

Marcos Baghdatis saw off German favourite Philipp Kohlschreiber 7-6 6-4 to book a place in the final of the Halle Open on Saturday. Baghdatis, the eighth seed from Cyprus, will play Czech fourth seed Tomas Berdych, who reached the final for the second yea
Published 17 Jun, 2007 12:00am
PFF not to allow overage players in football event

PFF not to allow overage players in football event

Pakistan Football Federation (PFF) will not compromise on overage players and will ensure that players of all the teams taking part in the upcoming Khanewal's National U-15 Football Tournament are not overage.
Published 17 Jun, 2007 12:00am
Sehwag downgraded in central contracts

Sehwag downgraded in central contracts

Explosive batsman Virender Sehwag, discarded for the tours of Ireland and England starting later this month, has been downgraded to grade B of the Indian cricket board's central contracts for this season. Board secretary Niranjan Shah announced on Saturda
Published 17 Jun, 2007 12:00am
Sidebottom puts West Indies on defensive

Sidebottom puts West Indies on defensive

Ryan Sidebottom took a wicket with the first ball of the match as West Indies struggled to 92 for four on the second day of the fourth Test at the Riverside here Saturday. At tea, left-arm quick Sidebottom had taken two wickets for 30 runs in 10 overs.
Published 17 Jun, 2007 12:00am
Kaneria signs Essex

Kaneria signs Essex

Leg spinner Danish Kaneria has signed a one-year contract with English County Essex. Sources in Pakistan Cricket Board (PCB) said here on Saturday that Danish has taken 44 wickets at an average of 24.09 in the county championship division and 18 wickets i
Published 17 Jun, 2007 12:00am
Punjab cycling from June 27

Punjab cycling from June 27

The three-day Punjab Cycling Championship will get underway here from June 27. According to a spokesman of Punjab Cycling Association, the championship would begin from the Cycling weld room in Lahore. As many as 12 districts have confirmed their particip
Published 17 Jun, 2007 12:00am
Football coaching course closing ceremony today

Football coaching course closing ceremony today

The closing ceremony of AFC C-certificate football coaching course will take place on Sunday, 17th June at Fifa Football House, Lahore. The 14-day course under former Iranian and AFC Instructor Majid Jalali will enable the 24 participants to take challeng
Published 17 Jun, 2007 12:00am
Jankovic moves into quarters

Jankovic moves into quarters

A stiff neck could not prevent Jelena Jankovic from battling to a 3-6 6-3 7-5 win over Maria Kirilenko in the third round of the Birmingham Classic on Friday. The second-seeded Serbian capitalised on a rare dry spell at the rain-hit tournament and was joi
Published 17 Jun, 2007 12:00am
Thai Prime Minister ready to negotiate with Thaksin

Thai Prime Minister ready to negotiate with Thaksin

Thai Prime Minister Surayud Chulanont said on Saturday he was ready to negotiate with his ousted predecessor, Thaksin Shinawatra, to defuse growing political tensions in the country. Surayud made the offer a day after Thaksin attacked the generals who rem
Published 17 Jun, 2007 12:00am
Russia steps up efforts to reduce greenhouse gas emission: official

Russia steps up efforts to reduce greenhouse gas emission: official

Russia is to intensify efforts to reduce its greenhouse gas emissions in order to stay in compliance with the Kyoto treaty as its economy rebounds from the economic collapse of the early 1990s, the country's deputy economic development minister said.
Published 17 Jun, 2007 12:00am
Moderate quake strikes eastern Indonesia

Moderate quake strikes eastern Indonesia

An undersea earthquake measuring 6.1 on the Richter scale jolted Indonesia's eastern Moluccas island chain on Saturday, but there were no immediate reports of any damage, a meteorological agency official said.
Published 17 Jun, 2007 12:00am
Four North Koreans arrive in South via Japan

Four North Koreans arrive in South via Japan

Four North Koreans who arrived by boat at a Japanese port two weeks ago reached South Korea, their desired destination, on Saturday, with one shouting "Freedom" as he arrived.
Published 17 Jun, 2007 12:00am
Japan parliament session to be extended

Japan parliament session to be extended

Japanese Prime Minister Shinzo Abe and top ruling party officials have agreed on a plan to extend the current session of parliament, a move that would delay a looming election, the Nikkei business daily said on Saturday.
Published 17 Jun, 2007 12:00am
Hasina denies taking money for self

Hasina denies taking money for self

Bangladesh's former prime minister Sheikh Hasina, barred from going abroad because she faces charges of extortion, was quoted as saying on Saturday that she never took money from anyone for herself, although her party accepted donations.
Published 17 Jun, 2007 12:00am
Philippine army blames militants for bus attacks

Philippine army blames militants for bus attacks

Suspected militants with ties to Jemaah Islamiah are believed to be behind attacks on commuter buses in the southern Philippines which killed 10 people, an army spokesman said on Saturday.
Published 17 Jun, 2007 12:00am
Vietnam frees pro-democracy lawyer

Vietnam frees pro-democracy lawyer

Vietnam released a detained pro-democracy lawyer Saturday, the second activist freed in a week, two days before the first US visit by a post-war Vietnamese head of state, state media said. Le Quoc Quan, 36, had been arrested in early March, shortly after
Published 17 Jun, 2007 12:00am
Pope, Orthodox leader to work for Middle East peace

Pope, Orthodox leader to work for Middle East peace

Pope Benedict and the leader of the Cypriot Orthodox Church pledged on Saturday to work for peace in the Middle East, saying they feared a widening crisis with "disastrous consequences." In a joint declaration, following a visit to the Vatican by Archbish
Published 17 Jun, 2007 12:00am
Manila's chief negotiator with Muslim rebels quits

Manila's chief negotiator with Muslim rebels quits

The Philippines' chief negotiator with Muslim separatists has resigned and a new man has been chosen for the post, the government said on Saturday, raising doubts about the resumption of talks in Malaysia next month.
Published 17 Jun, 2007 12:00am
Five shot dead in Thai Muslim-majority south

Five shot dead in Thai Muslim-majority south

Insurgents killed five people in separate shootings in Thailand's restive Muslim-majority south, police said Saturday. An 82-year-old Islamic religious teacher was killed in a drive-by shooting while he was riding a motorcycle late Saturday in Narathiwat,
Published 17 Jun, 2007 12:00am
Bird flu kills one Vietnamese

Bird flu kills one Vietnamese

Bird flu has killed one patient in Vietnam, the first death in the country since 2005, state-run television quoted a government report on Saturday as saying. The death brought the total death toll from bird flu in Vietnam to 43.
Published 17 Jun, 2007 12:00am
Tutu's stolen Nobel prize returned to wife: police

Tutu's stolen Nobel prize returned to wife: police

The Nobel peace prize stolen from the Soweto home of South Africa's leading anti-apartheid hero Desmond Tutu was returned to his wife Saturday, police said. The peace prize, together with other stolen goods, were identified by his wife Leah and handed ove
Published 17 Jun, 2007 12:00am
Sony apologises to Church of England

Sony apologises to Church of England

Entertainment giant Sony has apologised to the Church of England for featuring a prominent British cathedral in a violent video game, a spokesman for the church said Friday.
Published 17 Jun, 2007 12:00am
Financial conditions amplify policy: Bernanke

Financial conditions amplify policy: Bernanke

Changes in financial and credit conditions can amplify cyclical swings in the economy and the effect of monetary policy, Federal Reserve Chairman Ben Bernanke said on Friday.
Published 17 Jun, 2007 12:00am
Taiwan dollar hits three-week low

Taiwan dollar hits three-week low

The Taiwan dollar weakened on Friday to a three-week low, after lawmakers passed a bill allowing local insurers to invest more of their assets overseas and the Japanese yen fell. The Taiwan dollar ended at T$33.142, compared with the T$33.085 close in the
Published 17 Jun, 2007 12:00am
South Korean won hit a week high

South Korean won hit a week high

The South Korean won hit a week's high against the dollar and its strongest in nearly a decade versus the yen on Friday as demand from exporters and higher local shares forced investors to clear dollar-long positions.
Published 17 Jun, 2007 12:00am
Dollar down versus euro

Dollar down versus euro

The dollar slipped against the euro on Friday on tame inflation data, but rallied to a fresh 4-1/2-year high against the yen after the Bank of Japan indicated it was in no hurry to raise interest rates.
Published 17 Jun, 2007 12:00am
Canadian dollar turn higher

Canadian dollar turn higher

The Canadian dollar was higher versus the greenback on Friday as attention turned to key US data that showed inflation pressures could be easing. Bond prices, with no Canadian data to consider, followed the bigger US treasuries market higher following the
Published 17 Jun, 2007 12:00am
Australian dollar recovers from lows

Australian dollar recovers from lows

The Australian dollar rose from a 10-day low against the US dollar on Friday, helped by gains in stock markets and a growing appetite for risky carry trades as the Bank of Japan kept interest rates unchanged.
Published 17 Jun, 2007 12:00am
US stocks climb for third session

US stocks climb for third session

US stocks rose for a third straight day on Friday after tame consumer price data put aside inflation fears, while an upgrade of bellwether Intel helped fuel gains in the tech sector.
Published 17 Jun, 2007 12:00am
Chile stocks again close at record

Chile stocks again close at record

Chilean stock indexes edged up to a second consecutive record close on Friday, as global and local worries about rising interest rates subsided. The all-market IGPA index rose 0.16 percent to 14,651.47 points, while the trade-weighted blue chip IPSA index
Published 17 Jun, 2007 12:00am
Canadian bonds up

Canadian bonds up

The Canadian bond prices rallied on Friday as US government data showed the core inflation rate at 2.2 percent in May, which was below forecasts of 2.3 percent and a relief to bond investors who watched prices drop as the US rate outlook has shifted.
Published 17 Jun, 2007 12:00am
Canadian bonds up

Canadian bonds up

The Canadian bond prices rallied on Friday as US government data showed the core inflation rate at 2.2 percent in May, which was below forecasts of 2.3 percent and a relief to bond investors who watched prices drop as the US rate outlook has shifted.
Published 17 Jun, 2007 12:00am
Toronto stocks soar

Toronto stocks soar

The Toronto Stock Exchange's main index ended higher for a third straight session on Friday, led by big rises in resources issues, as tame US economic data eased worries about inflation. The S&P/TSX composite index closed up 135.42 points, or 0.97 percent
Published 17 Jun, 2007 12:00am
Mexican stocks rally

Mexican stocks rally

Mexico's stocks closed slightly higher on Friday. In stock trading, shares of dominant cell phone operator America Movil led the rally, gained 1.36 percent to 34.36 pesos. Its New York traded shares finished up 2.63 percent at $63.93. America Movil is the
Published 17 Jun, 2007 12:00am
Argentine stocks rise

Argentine stocks rise

Argentine stocks and bonds rose on Friday after tame US inflation data quelled worries that the US Federal Reserve would have to hike interest rates. The MerVal index of 16 leading stocks gained for a third consecutive session, surging 1.07 percent to 2,2
Published 17 Jun, 2007 12:00am
European stocks likely to make better progress

European stocks likely to make better progress

European shares may rally next week as recent concerns on rising inflation and interest rates fade, and merger and acquisition activity continues to burgeon. Next week's thin corporate calendar on both sides of the Atlantic will keep the outlook for inter
Published 17 Jun, 2007 12:00am
Brazil stocks surge

Brazil stocks surge

Brazil's stocks surged to a new record close on Friday and the national currency gained after tamer-than-expected indicators for US inflation eased concerns of possible Federal Reserve interest rate rises that would lure cash from emerging markets.
Published 17 Jun, 2007 12:00am
US Treasury prices stage relief rally

US Treasury prices stage relief rally

US government bond prices staged a relief rally on Friday, cheered by benign data on core inflation and weak consumer sentiment, which reduced prospects of an interest rate increase from the Federal Reserve.
Published 17 Jun, 2007 12:00am
US Treasury prices stage relief rally

US Treasury prices stage relief rally

US government bond prices staged a relief rally on Friday, cheered by benign data on core inflation and weak consumer sentiment, which reduced prospects of an interest rate increase from the Federal Reserve.
Published 17 Jun, 2007 12:00am
US corporate bonds: risk back in vogue for bond investors

US corporate bonds: risk back in vogue for bond investors

Yield premiums on high-grade and junk-rated corporate bonds edged lower on Friday after a report of tame inflation relieved concerns the Federal Reserve would act to slow the economy. The government said its Consumer Price Index, excluding volatile food a
Published 17 Jun, 2007 12:00am
US corporate bonds: risk back in vogue for bond investors

US corporate bonds: risk back in vogue for bond investors

Yield premiums on high-grade and junk-rated corporate bonds edged lower on Friday after a report of tame inflation relieved concerns the Federal Reserve would act to slow the economy. The government said its Consumer Price Index, excluding volatile food a
Published 17 Jun, 2007 12:00am
Emerging sovereign debt prices jump

Emerging sovereign debt prices jump

Emerging sovereign debt prices rallied for the third consecutive session on Friday after key US prices data reduced some of the inflation concerns that were weighing on riskier markets. Brazil's global bond due in 2040, the most liquid emerging market pap
Published 17 Jun, 2007 12:00am
Emerging sovereign debt prices jump

Emerging sovereign debt prices jump

Emerging sovereign debt prices rallied for the third consecutive session on Friday after key US prices data reduced some of the inflation concerns that were weighing on riskier markets. Brazil's global bond due in 2040, the most liquid emerging market pap
Published 17 Jun, 2007 12:00am
American credit market outlook

American credit market outlook

Boston Scientific Corp's credit spreads briefly widened this week as the medical device maker lost ground in a legal battle over possibly faulty implantable heart devices, but now may still be a good time to sell protection on the company's debt.
Published 17 Jun, 2007 12:00am
American credit market outlook

American credit market outlook

Boston Scientific Corp's credit spreads briefly widened this week as the medical device maker lost ground in a legal battle over possibly faulty implantable heart devices, but now may still be a good time to sell protection on the company's debt.
Published 17 Jun, 2007 12:00am
Bush blasts Democrats over US budget spending

Bush blasts Democrats over US budget spending

President George W. Bush blasted Democrats on Saturday for bloated annual federal spending bills and threatened to use his veto liberally, despite failing to carry out similar threats in the past.
Published 17 Jun, 2007 12:00am
China mulls yuan bond issues by more foreigners

China mulls yuan bond issues by more foreigners

China is mulling plans to allow more foreigners to issue yuan-denominated bonds on the mainland to boost development of the domestic capital markets, the China Daily said on Saturday, citing an unnamed banking official.
Published 17 Jun, 2007 12:00am
China mulls yuan bond issues by more foreigners

China mulls yuan bond issues by more foreigners

China is mulling plans to allow more foreigners to issue yuan-denominated bonds on the mainland to boost development of the domestic capital markets, the China Daily said on Saturday, citing an unnamed banking official.
Published 17 Jun, 2007 12:00am
POSCO to boost steel plate output

POSCO to boost steel plate output

South Korean steel maker POSCO Co Ltd is considering boosting production of steel plate for shipbuilding by around a half to meet strong demand, Maeil Business Newspaper reported on Saturday. "We are considering allocating capacity increase from our Kwang
Published 17 Jun, 2007 12:00am
Airbus Military reveals A400M setback, says no delay

Airbus Military reveals A400M setback, says no delay

Europe's A400M military transport plane project is on course for first flight in early 2008 but builder Airbus Military says structural problems will force the remanufacture of a part linking its hefty engines to their gearboxes.
Published 17 Jun, 2007 12:00am
Ahmadinejad rejects economic policy criticism

Ahmadinejad rejects economic policy criticism

Iran's president made clear in comments published on Saturday the government would not change its economic policies in response to criticism in an open letter from dozens of Iranian economists.
Published 17 Jun, 2007 12:00am
Pearson seeking partners for Dow Jones bid

Pearson seeking partners for Dow Jones bid

Financial Times publisher Pearson Plc is seeking partners to make a possible bid for Wall Street Journal owner Dow Jones & Co Inc, the Journal reported on its Web site on Friday.
Published 17 Jun, 2007 12:00am
Akzo Nobel planning ICI take-over bid

Akzo Nobel planning ICI take-over bid

Dutch chemical giant Akzo Nobel is in the final stages of preparing a take-over bid for British chemical group Imperial Chemical Industries (ICI), The Daily Telegraph said Saturday. The newspaper said Akzo Nobel, which owns Crown Paints in Britain, has in
Published 17 Jun, 2007 12:00am
Iranians rush to buy fuel ahead of rationing

Iranians rush to buy fuel ahead of rationing

Some Iranians are stocking up on gasoline amid uncertainty over when a delayed rationing scheme will take effect, an official from a body representing pump stations was quoted as saying on Saturday.
Published 17 Jun, 2007 12:00am
ECB may raise rates as far as five percent

ECB may raise rates as far as five percent

The European Central Bank still has room to raise interest rates, already at a six-year high, by as much as 1 more percentage point, Harvard University economist Kenneth Rogoff said in an interview published on Saturday. Europe's economy is growing strong
Published 17 Jun, 2007 12:00am
China promises action on slave labour claims

China promises action on slave labour claims

China has promised a sweeping crackdown on a slave labour scandal in a poor part of the country where poverty and unbridled growth have made work abuses commonplace. Following calls for action by top leaders, the Ministry of Labour and Social Security ple
Published 17 Jun, 2007 12:00am
German builders vote for first strike since 2002

German builders vote for first strike since 2002

German construction workers in two north-western states have voted to go on strike after employers there rejected a nation-wide pay deal, the IG-BAU construction trade union said on Saturday. The union said the strike, which would be the first in the sect
Published 17 Jun, 2007 12:00am
Niger plans audit of foreign, local mining firms

Niger plans audit of foreign, local mining firms

Niger's government is planning its first ever audit of mining and energy firms as foreign explorers flock to its expanses of mineral-rich desert, the West African country's government said.
Published 17 Jun, 2007 12:00am
Nova considering business alliance

Nova considering business alliance

Japan's Nova Corp, the nation's biggest operator of English language schools, is considering several offers to form a business or capital alliance, the daily Yomiuri Shimbun said on Saturday. Nova was forbidden on Wednesday to sign up long-term students f
Published 17 Jun, 2007 12:00am
Japanese firms to bid for Goodwill nursing care unit

Japanese firms to bid for Goodwill nursing care unit

Japanese drugstore chain Welcia Kanto Co Ltd will team up with nursing-home operator Wisnet Co to bid for Goodwill Group Inc's scandal-hit nursing care operations, media reports said on Saturday.
Published 17 Jun, 2007 12:00am
Oil prices jump on US motor fuel fears

Oil prices jump on US motor fuel fears

The price of crude oil on world markets raced higher this week, with London Brent crude breaching 71 dollars a barrel on gasoline (petrol) supply concerns in the United States. Wheat struck an 11-year high in Chicago owing to drought conditions in Ukraine
Published 17 Jun, 2007 12:00am
Soyabeans strong amid dry weather concerns

Soyabeans strong amid dry weather concerns

Soyabean futures at the Chicago Board of Trade rallied on Friday, reaching the highs late when the entire complex soared on a spurt of speculative buying, traders said. "There's probably a lot of stops that were triggered when it went through the highs of
Published 17 Jun, 2007 12:00am
US gold ends near week high

US gold ends near week high

US gold futures settled on Friday near a one-week peak, driven up by suggestions inflation was on the rise after a jump in US consumer price data and an oil surge to a 10-month high, traders said.
Published 17 Jun, 2007 12:00am
US copper futures higher

US copper futures higher

The price of copper rose to its highest level in nearly two weeks in US futures trade on Friday after moderate US inflation data alleviated worries of higher interest rates and slowing expansion, analysts said.
Published 17 Jun, 2007 12:00am
CBOT rice lower on selling pressure

CBOT rice lower on selling pressure

Rough rice futures on the Chicago Board of Trade closed lower on Friday, pressured by commercial selling in a quiet setback from Thursday's three-month high, traders said. July rice settled down 2-1/2 cents at $10.72 per hundredweight, but the contract wa
Published 17 Jun, 2007 12:00am
New York sugar futures firm

New York sugar futures firm

Raw sugar futures relied on speculative and trade buying to finish higher on Friday as the pace of switch business slowed down since most positions have been moved out of the spot contract this week, brokers said.
Published 17 Jun, 2007 12:00am
Falling trend on Australian wool market

Falling trend on Australian wool market

The Australian wool market finished 1.8 percent lower, on average, at sales in Sydney, Melbourne and Fremantle this week. The AWEX EMI fell by 13c (-1.3 percent), ending the week at 985c/kg clean.
Published 17 Jun, 2007 12:00am
Shanghai copper

Shanghai copper

Shanghai copper gave up early gains to close 0.5 percent lower on Friday as investors closed out positions, anticipating a rise in Shanghai copper stocks. The most-active August copper contract on the Shanghai Futures Exchange fell to 63,130 yuan a tonne
Published 17 Jun, 2007 12:00am
Australian grain farmers expect good crop

Australian grain farmers expect good crop

Back from the brink of ruin after years of drought, grain farmers are enjoying a great start to the season with a rare combination of steeply rising prices and a projected bumper crop.
Published 17 Jun, 2007 12:00am
Indonesia may hike export tax on palm oil

Indonesia may hike export tax on palm oil

The Indonesian government will probably increase its export tax and could enforce discount selling if palm oil prices remain high, the chairman of palm oil producer REA Holdings told Reuters.
Published 17 Jun, 2007 12:00am
Tocom rubber falls

Tocom rubber falls

Tokyo rubber futures fell more than 1 percent on Friday, reversing early gains and ending a three-day rising run with poor technical sentiment and increasing physical supply outweighing support from high oil prices.
Published 17 Jun, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 71,197 tonnes cargo including 31,521 tonnes import, 39,676 tonnes export cargo and 2,238 containers (TEUs) during last 24 hours ending at 0700 hours on Saturday.
Published 17 Jun, 2007 12:00am
Hong Kong sea container traffic falls in May

Hong Kong sea container traffic falls in May

Hong Kong's sea container traffic fell for a third consecutive month in May amid growing competition from the nearby ports in Southern China. Hong Kong moved 2.08 million 20-foot-equivalent units (TEU) of goods in May, down 3.5 percent from a year earlier
Published 17 Jun, 2007 12:00am
Shanghai Port to buy Belgian container terminal

Shanghai Port to buy Belgian container terminal

Shanghai International Port (Group), China's biggest port operator, expects to finalise this year its purchase of a major stake in a Belgium container terminal, sources close to the deal said on Friday.
Published 17 Jun, 2007 12:00am
Singapore May bunker sales down

Singapore May bunker sales down

Marine fuel sales in Singapore, the world's top bunker port, for May fell 4.6 percent to 2.50 million tonnes versus April levels, as high prices dampened demand, government data showed on Wednesday.
Published 17 Jun, 2007 12:00am
China needs more oil tankers for self-reliance

China needs more oil tankers for self-reliance

China should increase its oil shipping capacity to ensure steady oil flows to the world's second-largest user amid concern of potential supply disruptions, state media reported on Thursday.
Published 17 Jun, 2007 12:00am
Gram prices sharply up on grain market

Gram prices sharply up on grain market

Grams prices were sharply up on the grain market on Saturday as probably the sellers were hoarding the commodity to gain more profit in the month of Ramazan, which is far off, dealers said. On the grams side, gram Australia gained Rs 150 2850-3000, gram g
Published 17 Jun, 2007 12:00am
Cotton market closes sans any deal

Cotton market closes sans any deal

No change was seen in the obtaining outlook on cotton market on Saturday as the ginners were not looking to oblige their counterparts following the continued gains in the NY cotton future, dealers said. The Karachi Cotton Association (KCA) official spot r
Published 17 Jun, 2007 12:00am
Oil cake market rates

Oil cake market rates

The futures were unchanged on the forward cottonseed oilcake market on Saturday in process of trading, dealers said. The July vaida was unchanged at Rs 650.00 and market settled at the same rate without showing any change for the day, dealer said.
Published 17 Jun, 2007 12:00am
CBOT wheat futures close narrowly mixed

CBOT wheat futures close narrowly mixed

Soft red winter wheat futures at the Chicago Board of Trade closed narrowly mixed on Friday as the market took a breather after a strong rally this week lifted prices to 11-year highs, traders said.
Published 17 Jun, 2007 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 17 Jun, 2007 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 17 Jun, 2007 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Saturday (June 16, 2007).

Published 17 Jun, 2007 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Saturday (June 16, 2007).

Published 17 Jun, 2007 12:00am
Thousands greet CJP on way to Faisalabad

Thousands greet CJP on way to Faisalabad

Nearly 60,000 people showered rose petals over a procession led by Chief Justice of Pakistan Iftikhar Muhammad Chaudhry on Saturday. Flag-waving crowds flocked to welcome Chief Justice Iftikhar Muhammad Chaudhry in several towns as his motorcade made the
Published 17 Jun, 2007 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Saturday (June 16, 2007).

Published 17 Jun, 2007 12:00am
Thousands greet CJP on way to Faisalabad

Thousands greet CJP on way to Faisalabad

Nearly 60,000 people showered rose petals over a procession led by Chief Justice of Pakistan Iftikhar Muhammad Chaudhry on Saturday. Flag-waving crowds flocked to welcome Chief Justice Iftikhar Muhammad Chaudhry in several towns as his motorcade made the
Published 17 Jun, 2007 12:00am
SME Bank sell-off: BMA Capital made adviser to PC

SME Bank sell-off: BMA Capital made adviser to PC

Pakistan's Premier Investment Group, BMA Capital, has been appointed financial advisor to the Privatisation Commission (PC) for the strategic sale of shares of the SME Bank Limited.
Published 17 Jun, 2007 12:00am
SME Bank sell-off: BMA Capital made adviser to PC

SME Bank sell-off: BMA Capital made adviser to PC

Pakistan's Premier Investment Group, BMA Capital, has been appointed financial advisor to the Privatisation Commission (PC) for the strategic sale of shares of the SME Bank Limited.
Published 17 Jun, 2007 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Saturday (June 16, 2007).

Published 17 Jun, 2007 12:00am
SME Bank sell-off: BMA Capital made adviser to PC

SME Bank sell-off: BMA Capital made adviser to PC

Pakistan''s Premier Investment Group, BMA Capital, has been appointed financial advisor to the Privatisation Commission (PC) for the strategic sale of shares of the SME Bank Limited.
Published 17 Jun, 2007 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Saturday (June 16, 2007).
Published 17 Jun, 2007 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Saturday (June 16, 2007).

Published 17 Jun, 2007 12:00am
Import of over three-year-old vehicles banned

Import of over three-year-old vehicles banned

The federal government has slapped ban on import of more than three-year- old vehicles under gift, personal baggage and transfer of residence scheme. Ministry of Commerce on Saturday issued an SRO (I) 2007 to be implemented from next fiscal after formal a
Published 17 Jun, 2007 12:00am
Import of over three-year-old vehicles banned

Import of over three-year-old vehicles banned

The federal government has slapped ban on import of more than three-year- old vehicles under gift, personal baggage and transfer of residence scheme. Ministry of Commerce on Saturday issued an SRO (I) 2007 to be implemented from next fiscal after formal a
Published 17 Jun, 2007 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended on Saturday (June 16, 2007).

Published 17 Jun, 2007 12:00am
Import of over three-year-old vehicles banned

Import of over three-year-old vehicles banned

The federal government has slapped ban on import of more than three-year- old vehicles under gift, personal baggage and transfer of residence scheme. Ministry of Commerce on Saturday issued an SRO (I) 2007 to be implemented from next fiscal after formal a
Published 17 Jun, 2007 12:00am
Import of over three-year-old vehicles banned

Import of over three-year-old vehicles banned

The federal government has slapped ban on import of more than three-year- old vehicles under gift, personal baggage and transfer of residence scheme. Ministry of Commerce on Saturday issued an SRO (I) 2007 to be implemented from next fiscal after formal a
Published 17 Jun, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (June 16, 2007).

Published 17 Jun, 2007 12:00am
Zimbabwe charges five for plotting against Mugabe

Zimbabwe charges five for plotting against Mugabe

Five men, including a former member of the Zimbabwe National Army, have been arrested and charged with treason for plotting to topple President Robert Mugabe, court papers obtained by Reuters showed on Saturday. The five - who all deny the charges - appea
Published 17 Jun, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (June 16, 2007).

Published 17 Jun, 2007 12:00am
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