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Archive - 2007-07-08
MMA wants judicial body to probe Lal Masjid issue

MMA wants judicial body to probe Lal Masjid issue

Muttahida Majlis-i-Amal (MMA) has urged the government to provide safe passage to Maulana Abdur Rasheed Ghazi and his companions to save lives of innocent children and women detained at Lal Masjid. This demand was made by MMA leaders Dr Farid Ahmad Parach
Published 08 Jul, 2007 12:00am
Lal Masjid issue has been dramatised: PML-N

Lal Masjid issue has been dramatised: PML-N

Opposition leaders alleged that the government was deliberately dragging the issue of Jamia Hafsa and Faridia seminaries for their own benefits. They said that the government was planning to defuse the political atmosphere that may evolve after the APC in
Published 08 Jul, 2007 12:00am
CJP always extended relief to needy: SCBA

CJP always extended relief to needy: SCBA

Supreme Court Bar Association (SCBA) President Munir A. Malik has said the Chief Justice of Pakistan, Iftikhar Muhammad Chaudhary, always fought for the basic rights and provided relief to the needy persons of society. He expressed these views, while addr
Published 08 Jul, 2007 12:00am
SBC body terms Lal Masjid issue a drama

SBC body terms Lal Masjid issue a drama

Human Rights Committee of Sindh Bar Council (SBC) has adopted a resolution demanding the government to immediately stop what they called a drama being staged around the Lal Masjid in Islamabad. The resolution was unanimously passed at a meeting held under
Published 08 Jul, 2007 12:00am
Lawyers observe token strike

Lawyers observe token strike

The lawyers on Saturday observed token strike against suspension of Chief Justice of Pakistan here in the provincial metropolis and did not appear before the courts for one hour. The office-bearers of the bar observed token hunger strike camps. Activists
Published 08 Jul, 2007 12:00am
Lawyers strike continues

Lawyers strike continues

The lawyers' ongoing token hunger strike on Saturday completed 102 days, as they continued their one-hour boycott of the court proceedings and token hunger strike to record their protest against the presidential reference against the Chief Justice of Paki
Published 08 Jul, 2007 12:00am
Rs 179 million multipurpose sports stadium for Taxila

Rs 179 million multipurpose sports stadium for Taxila

The Ministry of Sports will construct a multipurpose sports stadium in Taxila city, which will be completed in two years at a cost of Rs 179 million. According to official sources the Central Development Working Party has already approved this project wit
Published 08 Jul, 2007 12:00am
Ulema urged to promote interfaith harmony

Ulema urged to promote interfaith harmony

Religious scholars should play their part in developing interfaith tolerance and harmony, for national solidarity and unity. This was said by Provincial Minister for Human Rights Makhdoom Ashfaq while talking to a 10-member delegation of Ulema at his offi
Published 08 Jul, 2007 12:00am
Aurakzai urges Bannu elders to deny shelter to criminals

Aurakzai urges Bannu elders to deny shelter to criminals

Governor NWFP Lieutenant General Ali Mohammad Jan Aurakzai (Retd) Saturday urged on the tribal elders from Frontier Region (FR) Bannu to deny shelter to criminals, anti-state elements and not to allow extremists to commit offences from their area.
Published 08 Jul, 2007 12:00am
APC supports lawyers' struggle

APC supports lawyers' struggle

The participants of All Parties Conference (APC) held at London on Saturday have appreciated the lawyers for waging struggle for independence of judiciary and restoration of Chief Justice Pakistan Iftikhar Muhammad Chaudhry.
Published 08 Jul, 2007 12:00am
Foundation stone of FBR office block laid

Foundation stone of FBR office block laid

Secretary General, Revenue Division and Chairman, Federal Board of Revenue (FBR), M. Abdullah Yusuf laid the foundation stone of the additional office block here on Saturday at a simple ceremony held at FBR House. Additional Block of FBR will be a five-st
Published 08 Jul, 2007 12:00am
Donors pledge $270 million grant to curb tuberculosis, polio and AIDS

Donors pledge $270 million grant to curb tuberculosis, polio and AIDS

International donors would provide $270 million grant for the elimination of TB, polio and HIV/AIDS out of which $62 million would be spent on the eradication of TB from the country. Punjab Health Minister Chaudhry Muhammad Iqbal stated this while talking
Published 08 Jul, 2007 12:00am
HRNP demands appointment of CEC for five-year term

HRNP demands appointment of CEC for five-year term

The Human Rights Network Pakistan (HRNP), Punjab Chapter, has called for appointment of chief election commissioner (CEC) for five years term with full administrative and financial powers to ensure holding of fair and free elections in the country.
Published 08 Jul, 2007 12:00am
Kidnapped military officer recovered

Kidnapped military officer recovered

The kidnapped military official of cadet college has been recovered by Wozi Khel tribe of North Waziristan Agency. Captain Faisal Islam, Adjutant, Cadet College, Razmak, was kidnapped on Friday morning in the Razmak subdivision of North Waziristan Agency
Published 08 Jul, 2007 12:00am
Punjab likely to receive scattered rains

Punjab likely to receive scattered rains

Punjab capital received light rain on Saturday for short span of period, which decreases the intensity of heat, although it also created muggy weather. According to the Meteorological Department Lahore, depression over west Bengal has moved westwards and
Published 08 Jul, 2007 12:00am
Sector G-6 people fed up with prolonged curfew

Sector G-6 people fed up with prolonged curfew

The residents of Sector G-6 are fed up of the curfew imposed for the last five days, they told Business Recorder during curfew relaxation. Owing to curfew the residents have to face a lot of problems. Life has completely paralysed. The people are i
Published 08 Jul, 2007 12:00am
Issuance of computerised route permits inaugurated

Issuance of computerised route permits inaugurated

Information Technology Minister Abdul Aleem Khan and Minister for Transport Pir Ghulam Mohy Uddin Chishti on Saturday inaugurated the issuance of computerised route permits here at Transport House. From now onward, "one window operation" has been launched
Published 08 Jul, 2007 12:00am
Flour milling conference

Flour milling conference

The second flour milling conference is to be held on 21st and 22nd of July, in the provincial metropolis, under the auspices of Indo-Pak Mills Confederation and Flour Milling News Pakistan. According to Bilal Aslam Sufi, Chairman, Zonal Standing Committee
Published 08 Jul, 2007 12:00am
Steps taken to ensure smooth mail delivery in Capital

Steps taken to ensure smooth mail delivery in Capital

Postmaster General of Pakistan, General Post Office has taken immediate steps to ensure smooth delivery of mail in Federal Capital. Currently, GPO Islamabad is not functioning in G-6 sector due to imposition of curfew, says a press release here Saturday.
Published 08 Jul, 2007 12:00am
Children paintings exhibition

Children paintings exhibition

Embassy of Pakistan at Tokyo held a children painting exhibition in collaboration with the Asian Cultural Exchange Association on Saturday at Takanawa Community Center, Japan. The Asian Cultural Exchange Association has been regularly holding such childre
Published 08 Jul, 2007 12:00am
Minister assures gas facility to every nook and corner by year-end

Minister assures gas facility to every nook and corner by year-end

Federal Minister for Petroleum and Natural Resources Amanullah Khan Jadoon has said that the government would provide Sui gas facility in every nook and corner of the country by the end of this year. He said this while performing the ground breaking cerem
Published 08 Jul, 2007 12:00am
Steps taken to ensure fool proof security in 'Rawalpindi

Steps taken to ensure fool proof security in 'Rawalpindi

The police have deployed heavy contingents at its pickets and put barriers to ensure foolproof security in the city. These security arrangements were made on the special directives of the top brass of the police after Lal Masjid Operation and firing on sp
Published 08 Jul, 2007 12:00am
Pesco dues recovery drive in full swing

Pesco dues recovery drive in full swing

The disconnection and recovery campaign of Peshawar Electricity Supply Company (Pesco) against defaulting government departments was in full swing in the province as nine more government connections have been disconnected in Peshawar Circle for non-paymen
Published 08 Jul, 2007 12:00am
Last date for filing names in voters' list extended

Last date for filing names in voters' list extended

Chief Election Commissioner (CEC) has extended last date for filing of applications for submission of names, correction and objections over computerised voters' list till July 18, next. According to a press release issued here by provincial election commi
Published 08 Jul, 2007 12:00am
Occult dimension of number seven

Occult dimension of number seven

Number seven has mystical significance for many societies and is associated with luck in occult science. However, some Chinese associate number seven with ghost and considered unlucky. The seventh month of the Chinese calendar is called "ghost month" and
Published 08 Jul, 2007 12:00am
Prospects of Pakistan's capital market highlighted

Prospects of Pakistan's capital market highlighted

Rizwan Khalid Butt, Chief Executive Officer of IGI Finex Securities Limited, has said that the overall performance of KSE as one of the highest yielding stock markets of Asia and half-year of 2007 has shown remarkable results for equity investors, and the
Published 08 Jul, 2007 12:00am
Relief goods distributed to flood affectees

Relief goods distributed to flood affectees

The political administration of South Waziristan Agency on the directives of the NWFP Governor, Lieutenant General Ali Mohammad Aurankzai (Retd) distributed another six trucks of relief goods amongst the flood-affected people of the Agency.
Published 08 Jul, 2007 12:00am
Government committed to redress Kashmiris grievances: Tahir

Government committed to redress Kashmiris grievances: Tahir

Federal Minister for Kashmir Affairs and Northern Areas and In charge Minister AJK Council Major Tahir Iqbal (Retd) has said that the government is fully committed to resettle Kashmiri refugees in the country and would take all necessary steps for redress
Published 08 Jul, 2007 12:00am
Time to streamline disaster management efforts

Time to streamline disaster management efforts

Chairing a top-level meeting, which was also attended by Prime Minister Shaukat Aziz, President General Pervez Musharraf, as expected of him, directed the National Disaster Management Authority (NDMA) to ensure swift relief, recovery and rehabilitation of
Published 08 Jul, 2007 12:00am
Gross irregularities in Railways accounts

Gross irregularities in Railways accounts

That the financial position of Pakistan Railways is not sound and that it has been deteriorating from year-to-year, are the grim facts revealed by the Auditor General of Pakistan in his report on railways accounts for the year 2005-06. The report also has
Published 08 Jul, 2007 12:00am
The nature of challenges in textile and clothing sector-I

The nature of challenges in textile and clothing sector-I

This policy brief is a follow-up to the research report titled: The Elimination of Textile Quotas and Pakistan-EU Trade. That report focused on two major areas. First, it developed a detailed profile of Pakistan's textile trade with the European Union-15
Published 08 Jul, 2007 12:00am
Unethical practices

Unethical practices

I wish to refer to the feature item Poultry Rates in the issue of June 28. According to it rate of eggs in the retail has risen to Rs 41/- per dozen. A week before, on June 21, the rate was Rs 32 per dozen. Refers page 12 of BR of that date. The rise is R
Published 08 Jul, 2007 12:00am
Neglected

Neglected

With all the development work going in our city it is very disheartening to see that the residents of Landhi have been neglected, especially Street No 24 of area 36-B Landhi where the sewerage problem is very serious for the last 15 days. The sewerage's a
Published 08 Jul, 2007 12:00am
A student's appeal

A student's appeal

General Pervez Musharraf is a great President I have heard nothing but good things about him, the only one who make Pakistan a perfect place for Muslims to live in. Look at what's happening around our country. Muslims are meant to be like brothers but why
Published 08 Jul, 2007 12:00am
Terrorism fight masks Chechen murder racket

Terrorism fight masks Chechen murder racket

A shredded body, an explosive belt and an intact head was all that remained of a Chechen woman found in May 2005 in Grozny. Two years later, the case has shed rare light on the gory mechanics of disappearances and murders in Chechnya.
Published 08 Jul, 2007 12:00am
Filipino priest takes on corruption despite death threats

Filipino priest takes on corruption despite death threats

The crowd of supporters parted like the Red Sea as former Roman Catholic priest Ed Panlilio stepped out of his campaign headquarters in downtown San Fernando. The building had just received a phoned-in bomb threat.
Published 08 Jul, 2007 12:00am
SHC orders interim attachment of killer trailer

SHC orders interim attachment of killer trailer

Justice Sajjad Ali Shah of Sindh High Court has ordered interim and provisional attachment before judgement of a 14-wheeler long trailer bearing No JT-5419 Nissan Make, which was involved in a traffic accident killing two persons, namely Aamir Ahmed Parek
Published 08 Jul, 2007 12:00am
Kazmi conditionally agrees to withdraw case against MQM

Kazmi conditionally agrees to withdraw case against MQM

A local journalist Iqbal Kazmi currently under trial for fraud who filed petition in Sindh High Court against May 12, 2007 violence in Karachi holding Muttahida Quami Movement (MQM) responsible for killing of more than 50 people, Saturday conditionally ag
Published 08 Jul, 2007 12:00am
Non-participation of Benazir in APC not to affect CoD

Non-participation of Benazir in APC not to affect CoD

Opposition leader in Punjab Assembly Qasim Zia on Saturday said that non-participation of Benazir Bhutto in the All Parties Conference (APC) will not affect the Charter of Democracy (CoD). He expressed these views while talking to reporters after a meetin
Published 08 Jul, 2007 12:00am
Death of Mohsin Kamal's father condoled

Death of Mohsin Kamal's father condoled

The Pakistan Veteran Cricket Association (PVCA) and other Sports bodies have expressed deep sense of grief and sorrow over the sad demise of father of former test cricketer Mohsin Kamal.
Published 08 Jul, 2007 12:00am
French official suggests Bush was behind 9/11

French official suggests Bush was behind 9/11

A senior French politician, now a minister in President Nicolas Sarkozy's government, suggested last year that US President George W Bush might have been behind the September 11, 2001 attacks, according to a web-site.
Published 08 Jul, 2007 12:00am
Pop stars rock climate change gigs around the world

Pop stars rock climate change gigs around the world

Dozens of pop stars rocked big crowds at Live Earth concerts around the world on Saturday to persuade fans and governments to go green. Around 40,000 people filled the Aussie Stadium in Sydney, 10,000 turned up at the Makuhari Messe hall outside Tokyo, th
Published 08 Jul, 2007 12:00am
Over 30 killed in fighting in Afghanistan

Over 30 killed in fighting in Afghanistan

More than 30 Taliban fighters were killed in fighting in Afghanistan, the US-led coalition said Saturday, as authorities investigated claims of a similar number of civilian dead in separate strikes. The battle erupted in the south-western province of Fara
Published 08 Jul, 2007 12:00am
Car bomb plot: Iraqi doctor appears in UK court

Car bomb plot: Iraqi doctor appears in UK court

An Iraqi-trained doctor appeared in a London court on Saturday in connection with failed car bomb attacks in London and Glasgow. Bilal Abdulla, 27, was charged with conspiracy to cause explosions. Dressed in a white sweatshirt, he spoke only to confirm hi
Published 08 Jul, 2007 12:00am
Iran officials meet 5 Iranians held in Iraq

Iran officials meet 5 Iranians held in Iraq

Iranian diplomats made the first consular visit on Saturday to five Iranians detained by US forces in January, Iraq's foreign minister said, adding he hoped this would lead to more talks between Washington and Tehran.
Published 08 Jul, 2007 12:00am
Indian court jails 14 Hindus

Indian court jails 14 Hindus

An Indian court jailed 14 Hindus for life on Saturday for killing 116 Muslims and burying their bodies in a cauliflower patch during one of India's bloodiest religious riots almost 20 years ago.
Published 08 Jul, 2007 12:00am
19 killed in Sri Lanka

19 killed in Sri Lanka

Fifteen Tamil Tiger rebels were shot dead as they fled from troops on tractors, the Sri Lankan government said on Saturday, while four people were killed elsewhere in the embattled island. The number of dead in violence on Friday was the biggest one-day t
Published 08 Jul, 2007 12:00am
China marks anniversary of outbreak of war with Japan

China marks anniversary of outbreak of war with Japan

China marked the 70th anniversary of the outbreak of war against Japan on Saturday with a US-made film documenting Japanese wartime atrocities opening in theatres nation-wide and schoolchildren holding a candlelight vigil. But Chinese media played down co
Published 08 Jul, 2007 12:00am
Venus pays tribute to King after Wimbledon triumph

Venus pays tribute to King after Wimbledon triumph

Venus Williams paid tribute to Billie Jean King on Saturday after she became the first women's champion at Wimbledon to earn as much money as the men's winner. Williams boosted her bank balance by a cool 700,000 pounds ($1.41 million) after winning her fo
Published 08 Jul, 2007 12:00am
Federer storms into fifth Wimbledon final

Federer storms into fifth Wimbledon final

Roger Federer stormed into his fifth successive Wimbledon final with a 7-5 6-3 6-4 humbling of France's Richard Gasquet on Saturday. The four-times defending champion overwhelmed his 21-year-old opponent in a display of sheer brilliance before a mesmerise
Published 08 Jul, 2007 12:00am
Powell leads West Indies to series win over England

Powell leads West Indies to series win over England

Daren Powell sparked a top-order collapse as West Indies beat England by 93 runs to win the third one-day international at Trent Bridge here Saturday and so come from behind to take the series 2-1. England, set 290 to win, were bowled out for 196 with mor
Published 08 Jul, 2007 12:00am
Top Indians opt out of Twenty20 World Championship

Top Indians opt out of Twenty20 World Championship

Indian batting stars Sachin Tendulkar, Rahul Dravid and Sourav Ganguly have opted out of the inaugural Twenty20 World Championship in South Africa in September, selectors announced here on Saturday. "I think they wanted to give a chance to youngsters. I g
Published 08 Jul, 2007 12:00am
Archery to make mark at Lord's

Archery to make mark at Lord's

Archery will come to Lord's Cricket Ground next month for the first time in the London venue's 220-year history when it plays host to an international triangular tournament featuring Great Britain, China and India.
Published 08 Jul, 2007 12:00am
Iraq draw with Thais in rainy Asian Cup opener

Iraq draw with Thais in rainy Asian Cup opener

Striker Younes Khalef scored the equaliser to earn Iraq a 1-1 draw with Group A hosts Thailand in the opening match of the Asian Cup on Saturday. Khalef headed the ball into the back of the net to secure the draw and spoil Thailand's planned celebrations
Published 08 Jul, 2007 12:00am
Stronger Chinese yuan may hurt US consumers

Stronger Chinese yuan may hurt US consumers

Pushing China into allowing a faster appreciation of the yuan has consequences for Americans looking for cheaper products and low interest rates even as it helps US companies compete globally and protects local jobs.
Published 08 Jul, 2007 12:00am
Taiwan dollar falls

Taiwan dollar falls

The Taiwan dollar fell on Friday on strong US dollar demand from companies for overseas purchases and investments, although its losses were capped by foreign fund inflows and central bank selling of the US currency. The Taiwan dollar ended weaker at T$32.
Published 08 Jul, 2007 12:00am
Dollar falls as payrolls rally

Dollar falls as payrolls rally

The dollar slid against the euro on Friday after an unexpectedly strong US jobs report failed to change views that US interest rates will stay on hold this year while overseas rates rise. The dollar initially rallied after the report, but quickly gave up
Published 08 Jul, 2007 12:00am
Greenback seen weakening

Greenback seen weakening

The US dollar will likely weaken against major currencies other than the yen in the week ahead, driven by expectations interest rates in the euro zone and elsewhere will rise faster than in the United States. Key data next week that could hurt the dollar
Published 08 Jul, 2007 12:00am
Canadian dollar jumps

Canadian dollar jumps

The Canadian dollar shot higher on Friday, while bonds fell, as stronger-than-expected June jobs data cemented expectations that the Bank of Canada will raise interest rates next week and likely again in September. The currency was at C$1.0497 to the US d
Published 08 Jul, 2007 12:00am
Crossover heads wider as rate, subprime fears linger

Crossover heads wider as rate, subprime fears linger

Corporate credit spreads in Europe headed wider on Friday as a stronger than expected US jobs report kept concerns about higher interest rates alive. Financial markets wiped out the chance of a US Federal Reserve rate cut as data showed US employers added
Published 08 Jul, 2007 12:00am
Crossover heads wider as rate, subprime fears linger

Crossover heads wider as rate, subprime fears linger

Corporate credit spreads in Europe headed wider on Friday as a stronger than expected US jobs report kept concerns about higher interest rates alive. Financial markets wiped out the chance of a US Federal Reserve rate cut as data showed US employers added
Published 08 Jul, 2007 12:00am
Special bonds may shrink bond-IRS arbitrage window

Special bonds may shrink bond-IRS arbitrage window

A planned issue of 1.55 trillion yuan ($204 billion) in special bonds may lift government bond yields more than interest rate swaps in months ahead, narrowing a spread that now offers traders an arbitrage opportunity.
Published 08 Jul, 2007 12:00am
Special bonds may shrink bond-IRS arbitrage window

Special bonds may shrink bond-IRS arbitrage window

A planned issue of 1.55 trillion yuan ($204 billion) in special bonds may lift government bond yields more than interest rate swaps in months ahead, narrowing a spread that now offers traders an arbitrage opportunity.
Published 08 Jul, 2007 12:00am
Chile stocks end week lower

Chile stocks end week lower

Chilean stock indexes fell for a third day on Friday as investors bet on higher interest rates and took profits on recent gains, while the peso rose to a seven-week high against the dollar. The value-weighted IGPA index slipped 0.61 percent to 14,961.69 p
Published 08 Jul, 2007 12:00am
Mexican stocks up

Mexican stocks up

Mexican stocks rose on Friday, as investors bet Congress would pass a tax reform law and that miner Grupo Mexico would post positive earnings for the second quarter. The benchmark IPC stock index was up 0.90 percent at 32,467 points, while the peso curren
Published 08 Jul, 2007 12:00am
Philippine bonds rise on debt swap plan

Philippine bonds rise on debt swap plan

Philippine bonds gained in a weak market on Friday after a government official said Manila was planning a debt swap to cut funding costs. The broad market was jittery ahead of US monthly employment report amid growing expectations of monetary tightening g
Published 08 Jul, 2007 12:00am
Philippine bonds rise on debt swap plan

Philippine bonds rise on debt swap plan

Philippine bonds gained in a weak market on Friday after a government official said Manila was planning a debt swap to cut funding costs. The broad market was jittery ahead of US monthly employment report amid growing expectations of monetary tightening g
Published 08 Jul, 2007 12:00am
US treasury outlook: retail sales focus

US treasury outlook: retail sales focus

US Treasuries could struggle to shake off a gloomy mood next week, with economic data and several Federal Reserve speakers unlikely to change investors' conviction that there would no interest rate cut this year.
Published 08 Jul, 2007 12:00am
US treasury outlook: retail sales focus

US treasury outlook: retail sales focus

US Treasuries could struggle to shake off a gloomy mood next week, with economic data and several Federal Reserve speakers unlikely to change investors' conviction that there would no interest rate cut this year.
Published 08 Jul, 2007 12:00am
South Korea bonds fall on US debt

South Korea bonds fall on US debt

South Korean benchmark government bond prices dipped on Friday, suffering a sixth straight session of losses tracking weaker US Treasury prices as data cooled expectations of an interest rate cut by the Federal Reserve.
Published 08 Jul, 2007 12:00am
South Korea bonds fall on US debt

South Korea bonds fall on US debt

South Korean benchmark government bond prices dipped on Friday, suffering a sixth straight session of losses tracking weaker US Treasury prices as data cooled expectations of an interest rate cut by the Federal Reserve.
Published 08 Jul, 2007 12:00am
Indexes cap week of gains on jobs

Indexes cap week of gains on jobs

US stocks gained on Friday after rising oil prices lifted energy shares and a strong jobs report reassured investors about the economy. Technology and industrial stocks were among the best performers after the Labour Department's monthly report on job cre
Published 08 Jul, 2007 12:00am
Strong jobs data hits bonds

Strong jobs data hits bonds

US Treasury debt prices fell on Friday, pushing yields to two-week highs, after strong jobs data dashed some of the last remaining expectations that the Federal Reserve would cut interest rates this year. Unexpectedly robust job growth in June and upward
Published 08 Jul, 2007 12:00am
Strong jobs data hits bonds

Strong jobs data hits bonds

US Treasury debt prices fell on Friday, pushing yields to two-week highs, after strong jobs data dashed some of the last remaining expectations that the Federal Reserve would cut interest rates this year. Unexpectedly robust job growth in June and upward
Published 08 Jul, 2007 12:00am
Subprime risks come home to roost for hedge funds

Subprime risks come home to roost for hedge funds

Bad bets revealed by some hedge funds in recent weeks may mean other funds will be forced to accept the market's deteriorating views on subprime mortgages and report their own losses soon.
Published 08 Jul, 2007 12:00am
Subprime risks come home to roost for hedge funds

Subprime risks come home to roost for hedge funds

Bad bets revealed by some hedge funds in recent weeks may mean other funds will be forced to accept the market's deteriorating views on subprime mortgages and report their own losses soon.
Published 08 Jul, 2007 12:00am
US corporate bonds unchanged

US corporate bonds unchanged

US corporate bonds were unchanged on Friday in light activity as investors awaited a pickup in new issuance next week to gauge the market's health after a bout of spread widening. Average corporate bond spreads had gapped out by six basis points in June t
Published 08 Jul, 2007 12:00am
US corporate bonds unchanged

US corporate bonds unchanged

US corporate bonds were unchanged on Friday in light activity as investors awaited a pickup in new issuance next week to gauge the market's health after a bout of spread widening. Average corporate bond spreads had gapped out by six basis points in June t
Published 08 Jul, 2007 12:00am
Bush sharpens budget attack on Democrats

Bush sharpens budget attack on Democrats

Escalating a budget battle with Democrats who control Congress, President George W. Bush accused them on Saturday of pushing tax-and-spend policies and renewed his veto threat.
Published 08 Jul, 2007 12:00am
South Korea agrees to ship raw materials to North this month

South Korea agrees to ship raw materials to North this month

South Korea agreed Saturday to start shipping raw materials to North Korea this month after the communist state said it would consider shutting down its nuclear reactor early. The agreement followed a two-day economic meeting between the two Koreas at the
Published 08 Jul, 2007 12:00am
Sarkozy wants Strauss-Kahn as IMF head

Sarkozy wants Strauss-Kahn as IMF head

French President Nicolas Sarkozy has said he wants Dominique Strauss-Kahn, a former finance minister and member of the opposition Socialist party, to be the next head of the International Monetary Fund.
Published 08 Jul, 2007 12:00am
Egypt's inflation drops

Egypt's inflation drops

Inflation in Egypt declined to 8.5 percent year-on-year in June from around 10 percent in May, bringing Cairo closer to meeting an 8 percent inflation target, Egypt's state news agency MENA said on Saturday.
Published 08 Jul, 2007 12:00am
Standard Life cuts UK property fund values

Standard Life cuts UK property fund values

One of Britain's biggest property fund managers Standard Life Investments has cut the value of some of its UK commercial real estate funds by 6.7 percent, in a sign of growing distress in the sector.
Published 08 Jul, 2007 12:00am
Qantas buying 20 Boeing Dreamliners

Qantas buying 20 Boeing Dreamliners

Australian flag-carrier Qantas said Saturday it was buying an additional 20 Boeing 787 long-haul airliners as part of a massive fleet expansion first unveiled 18 months ago. Qantas chief executive Geoff Dixon said the extra 20 Dreamliners were on top of a
Published 08 Jul, 2007 12:00am
'Italy risks exhausting fossil fuels in 20 years'

'Italy risks exhausting fossil fuels in 20 years'

Italy runs the risk of using up its own fossil fuel reserves within the next 20 years and becoming even more dependent on imports to meet its energy needs, the head of the country's power giant, Enel, said. "Eighty percent of the fossil fuels used by Ital
Published 08 Jul, 2007 12:00am
Japanese farm minister in fund scandal

Japanese farm minister in fund scandal

Japan's farm minister has filed false financial statements, reports said Saturday, in the latest in a series of scandals to plague Prime Minister Shinzo Abe's government. The reports involving agriculture minister Norihiko Akagi, who only took up the posi
Published 08 Jul, 2007 12:00am
Iran to stop making 'gasoline-only' cars

Iran to stop making 'gasoline-only' cars

Iran, the Middle East's biggest carmaker, will stop producing cars that only run on gasoline this month and will instead ensure all new vehicles run on gas too, an official said in remarks published on Saturday.
Published 08 Jul, 2007 12:00am
Another 17 held for defying Zimbabwe price freeze

Another 17 held for defying Zimbabwe price freeze

Zimbabwe police arrested 17 more business executives for defying an official price freeze, as the ruling party endorsed the government's tough stance on businesses, state media reported on Saturday.
Published 08 Jul, 2007 12:00am
US jobs picture may be weaker than data shows

US jobs picture may be weaker than data shows

The US economy has been adding jobs at a steady clip, a government survey of employers showed on Friday, but there are signs the labour market may not be as strong as the data suggests.
Published 08 Jul, 2007 12:00am
Iraq's energy panel member quits over oil law

Iraq's energy panel member quits over oil law

A member of Iraq's parliamentary energy committee quit on Saturday in protest over a draft oil law, which Washington hopes will help ease violence between Iraq's warring Shia and Sunni Arabs. Usama al-Nujeyfi told a small news conference that the proposal
Published 08 Jul, 2007 12:00am
Germany to get sole chief executive job at EADS

Germany to get sole chief executive job at EADS

The main private shareholders at European aerospace firm EADS have reached a deal to appoint a German as the company's sole CEO, the International Herald Tribune newspaper said on Saturday.
Published 08 Jul, 2007 12:00am
Sony has no plans to cut P3 price

Sony has no plans to cut P3 price

Sony Corp has no plans to cut the price of its PlayStation 3 (PS3) at present to pep up demand and counter surging sales of Nintendo's rival game console Wii, Sony's president said on Friday. Sony President Ryoji Chubachi also said in an interview that op
Published 08 Jul, 2007 12:00am
Asian freight rates touch three-year high

Asian freight rates touch three-year high

Bulk freight rates for major Asian routes hit a three-year high on Tuesday, as strong demand for tonnage to move iron ore, steel and coal, and severe port congestion's due to bad storms, kept the market on the boil. Period charter rates for modern panamax
Published 08 Jul, 2007 12:00am
Brazilian sugar vessels lineup rises

Brazilian sugar vessels lineup rises

The lineup of vessels waiting to load sugar in Brazilian ports rose to 42 ships waiting, from 37 last week, shipping agent Williams said on Thursday. In a weekly report, Williams said 33 vessels were lined up in the southern port of Santos, compared with
Published 08 Jul, 2007 12:00am
Zhenhua Port Machinery wins DP World order

Zhenhua Port Machinery wins DP World order

Zhenhua Port Machinery, a major Chinese maker and exporter of container cranes and other port equipment, said on Tuesday it had secured a $200 million order from Dubai Ports World (DP World). The order for 15 container cranes and other equipment is schedu
Published 08 Jul, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 97,534 tonnes cargo including 67,717 tonnes import, 29,817 tonnes export cargo and 2,137 containers (TEUs) during last 24 hours ending at 0700 hours on Saturday.
Published 08 Jul, 2007 12:00am
Panama Canal expansion work to begin in August

Panama Canal expansion work to begin in August

Work will begin in August on the planned $5.2 billion expansion of the Panama Canal, a senior government official said on Friday, after the first tender offers were submitted for first phase of the ambitious project.
Published 08 Jul, 2007 12:00am
Russia's Far East port re-opens for Vietnam rice

Russia's Far East port re-opens for Vietnam rice

Russia has re-opened its Far East port in Vladivostok to rice imports, a move that would help cut shipping costs for Vietnamese exporters delivering to European buyers, trade officials said on Friday.
Published 08 Jul, 2007 12:00am
Singapore bunker fuel prices rise

Singapore bunker fuel prices rise

Singapore bunker prices rose on Friday, but its differential to fuel oil cargoes plunged into discount after remaining in positive territory for five-straight sessions. Prices for the 380-centistoke (cst) were pegged at $368-370 a tonne, rising $3 from th
Published 08 Jul, 2007 12:00am
World oil prices surge to ten-month high

World oil prices surge to ten-month high

World oil prices surged to ten-month highs last week on global supply concerns, while lead hit a new all-time peak and cocoa struck the highest point for four years owing to unrest in Ivory Coast.
Published 08 Jul, 2007 12:00am
India asks firms to cut wheat tender bid prices

India asks firms to cut wheat tender bid prices

India has asked global trading firms, which this week offered to supply wheat against a one million tonne import tender, to lower their bid prices, a senior government official said on Friday.
Published 08 Jul, 2007 12:00am
Indian sugar futures slide for fifth day

Indian sugar futures slide for fifth day

Indian sugar futures extended a fall on Friday, as a nearing contract expiry and sales by millers in a northern state took losses this week to more than 4 percent. The July contract on the National Commodity and Derivatives Exchange was down 0.53 percent
Published 08 Jul, 2007 12:00am
US gold turns to end higher

US gold turns to end higher

US gold futures erased losses to finish higher on Friday as the dollar's rise following a strong jobs report stalled, and robust buying by physical buyers could support the precious metal in the near term, dealers said.
Published 08 Jul, 2007 12:00am
Australian wool market up

Australian wool market up

In the last sale before the mid-year break and a week when the United States exchange rate increased by 1.9 percent, the Australian wool market finished 0.8 percent lower, on average, at sales in Sydney, Melbourne and Fremantle this week.
Published 08 Jul, 2007 12:00am
India soyoil down

India soyoil down

Indian soyoil futures eased on concerns the government could cut import duties to help lower edible oil prices, which analysts said were a factor in Friday's data showing slight rise in annual inflation in late June. At 3:30 pm (1000 GMT), the July contra
Published 08 Jul, 2007 12:00am
Australia grain: container wheat export growth looms

Australia grain: container wheat export growth looms

Australian grain exporters expect sharp growth in containerised wheat exports, with a new set of rules to come into play at the end of next month. Barley exporter ABB Grain Ltd on Friday joined east coast exporter GrainCorp Ltd in stating that it saw majo
Published 08 Jul, 2007 12:00am
CBOT rice closes slightly lower

CBOT rice closes slightly lower

Rough rice futures at the Chicago Board of Trade closed slightly lower on Friday, with strong weekly exports underpinning prices, traders said. "They were good exports and sales. It kept the market from continuing its downward spiral," one rice broker sai
Published 08 Jul, 2007 12:00am
US copper futures close up

US copper futures close up

US copper futures managed to eke out modest gains on Friday and were up more than 4 percent on the week as the market continued to ride a wave of bullish momentum that looked likely to extend into next week, analysts said.
Published 08 Jul, 2007 12:00am
India not to cap iron ore exports in new policy

India not to cap iron ore exports in new policy

A new mining policy approved by a group of Indian ministers on Friday does not contain a provision to limit iron ore exports, the mines minister said, in a rebuff to steel firms seeking restrictions. "We have not proposed any cap on iron ore exports, expo
Published 08 Jul, 2007 12:00am
New York sugar ends mixed

New York sugar ends mixed

Raw sugar futures ended little changed on Friday as the market continued to dawdle in its recent range after failing to sustain gains through key chart points, traders said. We managed to break above the $9.70 level, but there was nothing behind it and we
Published 08 Jul, 2007 12:00am
Some prices move upwards on grain market

Some prices move upwards on grain market

Rising trend was seen on the grain market on Saturday as most of the buyers continued buying on anticipation of the further rise in the rates, market players said. On the cereal side, wheat Bardan old gained Rs 30 to Rs 1270 and new type followed suit, pi
Published 08 Jul, 2007 12:00am
Raw rubber lower on Jodia Bazaar

Raw rubber lower on Jodia Bazaar

The trading on raw rubber Ceylon edged lower on Jodia Bazaar here on Saturday. The following variations were noted.
Published 08 Jul, 2007 12:00am
KCA spot rate up by Rs 50 at Rs 2725

KCA spot rate up by Rs 50 at Rs 2725

Some mills went for fresh buying, though prices were on the upward march following the apprehensions about the size of crop, dealers said. The Karachi Cotton Association (KCA) official spot rate maintained rising trend, picking up Rs 50 to Rs 2725 Thus th
Published 08 Jul, 2007 12:00am
Oil cake market rates

Oil cake market rates

The July vaida was unchanged while the December vaida depreciated on the forward cottonseed oilcake market on Friday in process of trading, brokers said. The July vaida was unchanged at Rs 650.00 and closing was seen at the same level without any variatio
Published 08 Jul, 2007 12:00am
CBoT wheat futures up

CBoT wheat futures up

Soft red winter wheat futures at the Chicago Board of Trade closed higher on Friday on bullish weekly export data and a late flurry of technical buying, traders said. Benchmark September wheat settled up 6 cents at $6.10 per bushel.
Published 08 Jul, 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 08 Jul, 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 08 Jul, 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 (July 07, 2007).

Published 08 Jul, 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 (July 07, 2007).

Published 08 Jul, 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 (July 07, 2007).

Published 08 Jul, 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 (July 07, 2007).

Published 08 Jul, 2007 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Saturday (July 07, 2007).
Published 08 Jul, 2007 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Saturday (July 07, 2007).

Published 08 Jul, 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 (July 07, 2007).

Published 08 Jul, 2007 12:00am
THE RUPEE: no change in interbank market

THE RUPEE: no change in interbank market

Firmer trend was seen in the interbank market on Saturday as the rupee maintained its overnight level against the dollar for buying and selling at 60.36 and 60.38, dealers said. Modest demand for dollars, helped the rupee to hold its present levels, deale
Published 08 Jul, 2007 12:00am
THE RUPEE: no change in interbank market

THE RUPEE: no change in interbank market

Firmer trend was seen in the interbank market on Saturday as the rupee maintained its overnight level against the dollar for buying and selling at 60.36 and 60.38, dealers said. Modest demand for dollars, helped the rupee to hold its present levels, deale
Published 08 Jul, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (July 07, 2007).

Published 08 Jul, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (July 07, 2007).

Published 08 Jul, 2007 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (July 07, 2007).

Published 08 Jul, 2007 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Saturday (July 07, 2007).

Published 08 Jul, 2007 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Saturday (July 07, 2007).

Published 08 Jul, 2007 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Saturday (July 07, 2007).

Published 08 Jul, 2007 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Saturday (July 07, 2007).

Published 08 Jul, 2007 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Saturday (July 07, 2007).

Published 08 Jul, 2007 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (July 07, 2007).

Published 08 Jul, 2007 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (July 07, 2007).

Published 08 Jul, 2007 12:00am
Ghazi says bid to shoot down plane in revenge for siege

Ghazi says bid to shoot down plane in revenge for siege

Heavy blasts and gunfire continued around besieged Lal Masjid on Saturday on the fifth day of the operation against the armed men entrenched in the mosque. A series of six blasts were sounded at about 10:30pm and continued for two hours, which reportedly
Published 08 Jul, 2007 12:00am
Ghazi says bid to shoot down plane in revenge for siege

Ghazi says bid to shoot down plane in revenge for siege

Heavy blasts and gunfire continued around besieged Lal Masjid on Saturday on the fifth day of the operation against the armed men entrenched in the mosque. A series of six blasts were sounded at about 10:30pm and continued for two hours, which reportedly
Published 08 Jul, 2007 12:00am
President asks Lal Masjid elements to surrender

President asks Lal Masjid elements to surrender

President General Pervez Musharraf here on Saturday warned the Lal Masjid elements to surrender or otherwise face the consequences. Talking to media representatives at the residence of Federal Minister Yar Mohammad Rind in Sani Shoran, Bolan district, he
Published 08 Jul, 2007 12:00am
President asks Lal Masjid elements to surrender

President asks Lal Masjid elements to surrender

President General Pervez Musharraf here on Saturday warned the Lal Masjid elements to surrender or otherwise face the consequences. Talking to media representatives at the residence of Federal Minister Yar Mohammad Rind in Sani Shoran, Bolan district, he
Published 08 Jul, 2007 12:00am
Bonded warehouses charges: FBR accepts FPCCI demand for waiver

Bonded warehouses charges: FBR accepts FPCCI demand for waiver

The Federal Board of Revenue (FBR) has accepted the demand of Federation of Chambers of Commerce and Industry's (FPCCI) for waiver of establishment charges and disposal/removal of goods lying in bonded warehouses for years.
Published 08 Jul, 2007 12:00am
Bonded warehouses charges: FBR accepts FPCCI demand for waiver

Bonded warehouses charges: FBR accepts FPCCI demand for waiver

The Federal Board of Revenue (FBR) has accepted the demand of Federation of Chambers of Commerce and Industry's (FPCCI) for waiver of establishment charges and disposal/removal of goods lying in bonded warehouses for years.
Published 08 Jul, 2007 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Saturday (July 07, 2007) and for Sunday (July 08, 2007).
Published 08 Jul, 2007 12:00am
Bonded warehouses charges: FBR accepts FPCCI demand for waiver

Bonded warehouses charges: FBR accepts FPCCI demand for waiver

The Federal Board of Revenue (FBR) has accepted the demand of Federation of Chambers of Commerce and Industry''s (FPCCI) for waiver of establishment charges and disposal/removal of goods lying in bonded warehouses for years.
Published 08 Jul, 2007 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (July 07, 2007).

Published 08 Jul, 2007 12:00am
Steel products' values fixed for sales tax assessment

Steel products' values fixed for sales tax assessment

The Federal Board of Revenue (FBR) has fixed the values of different steel products, in rupees and US dollars, for accurate assessment of sales tax at import and local supply stages.
Published 08 Jul, 2007 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning from Monday (July 09, 2007).

Published 08 Jul, 2007 12:00am
Steel products' values fixed for sales tax assessment

Steel products' values fixed for sales tax assessment

The Federal Board of Revenue (FBR) has fixed the values of different steel products, in rupees and US dollars, for accurate assessment of sales tax at import and local supply stages.
Published 08 Jul, 2007 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning from Monday (July 09, 2007).

Published 08 Jul, 2007 12:00am
Steel products'' values fixed for sales tax assessment

Steel products'' values fixed for sales tax assessment

The Federal Board of Revenue (FBR) has fixed the values of different steel products, in rupees and US dollars, for accurate assessment of sales tax at import and local supply stages.
Published 08 Jul, 2007 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended on Saturday (July 07, 2007).

Published 08 Jul, 2007 12:00am
Iron, steel and other metal rates

Iron, steel and other metal rates

Iron, steel and other metal rates in rupees prevailing on the commodity markets in Karachi on Saturday (July 07, 2007).

Published 08 Jul, 2007 12:00am
Your rupee last month

Your rupee last month

Following currency fluctuations took place in foreign exchange rates during the last month. (June 01 to 30, 2007)

Published 08 Jul, 2007 12:00am
Rates of Pipe Fittings

Rates of Pipe Fittings

Pipe fitting rates in rupees prevailing in the markets in Karachi on Saturday (July 07, 2007).

Published 08 Jul, 2007 12:00am
Confectioners to pay extra sales tax

Confectioners to pay extra sales tax

The Federal Board of Revenue (CBR) has directed the registered manufacturers of biscuits, confectionery and snacks to pay additional sales tax on 12 percent value-addition in lieu of sales tax payable on the basis of printed retail price.
Published 08 Jul, 2007 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday July 09, 2007

Published 08 Jul, 2007 12:00am
Confectioners to pay extra sales tax

Confectioners to pay extra sales tax

The Federal Board of Revenue (CBR) has directed the registered manufacturers of biscuits, confectionery and snacks to pay additional sales tax on 12 percent value-addition in lieu of sales tax payable on the basis of printed retail price.
Published 08 Jul, 2007 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday July 09, 2007

Published 08 Jul, 2007 12:00am
Confectioners to pay extra sales tax

Confectioners to pay extra sales tax

The Federal Board of Revenue (CBR) has directed the registered manufacturers of biscuits, confectionery and snacks to pay additional sales tax on 12 percent value-addition in lieu of sales tax payable on the basis of printed retail price.
Published 08 Jul, 2007 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday July 09, 2007

Published 08 Jul, 2007 12:00am
Importers to be exempted from sales tax audit

Importers to be exempted from sales tax audit

Under a special procedure, commercial importers will be exempted from audit of payment of sales tax. Through amendment in the Special Procedure Rules 2007 on Saturday, the Federal Board of Revenue (FBR) has issued special procedure for payment of sales ta
Published 08 Jul, 2007 12:00am
The Weather

The Weather

The weather report on Saturday (July 07, 2007) and the forecast for Sunday (July 08, 2007).
Published 08 Jul, 2007 12:00am
Importers to be exempted from sales tax audit

Importers to be exempted from sales tax audit

Under a special procedure, commercial importers will be exempted from audit of payment of sales tax. Through amendment in the Special Procedure Rules 2007 on Saturday, the Federal Board of Revenue (FBR) has issued special procedure for payment of sales ta
Published 08 Jul, 2007 12:00am
Importers to be exempted from sales tax audit

Importers to be exempted from sales tax audit

Under a special procedure, commercial importers will be exempted from audit of payment of sales tax. Through amendment in the Special Procedure Rules 2007 on Saturday, the Federal Board of Revenue (FBR) has issued special procedure for payment of sales ta
Published 08 Jul, 2007 12:00am
Low-income group hit hard by inflation

Low-income group hit hard by inflation

Weekly-based SPI inflation is hitting low-income group the hardest as during the week ending July 5, it stood at 9.66 percent for the low-income group and 5.85 percent for the high-income earners. According to statistics released by the Federal Board of S
Published 08 Jul, 2007 12:00am
Low-income group hit hard by inflation

Low-income group hit hard by inflation

Weekly-based SPI inflation is hitting low-income group the hardest as during the week ending July 5, it stood at 9.66 percent for the low-income group and 5.85 percent for the high-income earners. According to statistics released by the Federal Board of S
Published 08 Jul, 2007 12:00am
Low-income group hit hard by inflation

Low-income group hit hard by inflation

Weekly-based SPI inflation is hitting low-income group the hardest as during the week ending July 5, it stood at 9.66 percent for the low-income group and 5.85 percent for the high-income earners. According to statistics released by the Federal Board of S
Published 08 Jul, 2007 12:00am
First textile policy in two weeks: Cheema

First textile policy in two weeks: Cheema

Federal Minister for Textile Industry, Chauudhry Mushtaq Ali Cheema has said the first textile policy for the next five years will be announced in a couple of weeks. The policy would focus on long-term export plan and would include measures for betterment
Published 08 Jul, 2007 12:00am
First textile policy in two weeks: Cheema

First textile policy in two weeks: Cheema

Federal Minister for Textile Industry, Chauudhry Mushtaq Ali Cheema has said the first textile policy for the next five years will be announced in a couple of weeks. The policy would focus on long-term export plan and would include measures for betterment
Published 08 Jul, 2007 12:00am
First textile policy in two weeks: Cheema

First textile policy in two weeks: Cheema

Federal Minister for Textile Industry, Chauudhry Mushtaq Ali Cheema has said the first textile policy for the next five years will be announced in a couple of weeks. The policy would focus on long-term export plan and would include measures for betterment
Published 08 Jul, 2007 12:00am
Tax payers to get 'Single Identifier Numbers'

Tax payers to get 'Single Identifier Numbers'

The Federal Board of Revenue (FBR) has decided to allocate 'Single Identifier Numbers' (SINs) to all taxpayers who are at present using different sales tax registration numbers and National Tax Numbers (NTNs) for carrying out business activities.
Published 08 Jul, 2007 12:00am
Tax payers to get 'Single Identifier Numbers'

Tax payers to get 'Single Identifier Numbers'

The Federal Board of Revenue (FBR) has decided to allocate 'Single Identifier Numbers' (SINs) to all taxpayers who are at present using different sales tax registration numbers and National Tax Numbers (NTNs) for carrying out business activities.
Published 08 Jul, 2007 12:00am
Tax payers to get ''Single Identifier Numbers''

Tax payers to get ''Single Identifier Numbers''

The Federal Board of Revenue (FBR) has decided to allocate ''Single Identifier Numbers'' (SINs) to all taxpayers who are at present using different sales tax registration numbers and National Tax Numbers (NTNs) for carrying out business activities.
Published 08 Jul, 2007 12:00am
Government to mitigate flood victims' sufferings: Musharraf

Government to mitigate flood victims' sufferings: Musharraf

President Pervez Musharraf has said that both long-term and short-term strategies will be adopted to mitigate sufferings of the rain and flood-affected people of Shahdadkot and Qambar districts in Sindh.
Published 08 Jul, 2007 12:00am
Government to mitigate flood victims' sufferings: Musharraf

Government to mitigate flood victims' sufferings: Musharraf

President Pervez Musharraf has said that both long-term and short-term strategies will be adopted to mitigate sufferings of the rain and flood-affected people of Shahdadkot and Qambar districts in Sindh.
Published 08 Jul, 2007 12:00am
SNGPL to lay IPI gas line in Pakistan: Lone

SNGPL to lay IPI gas line in Pakistan: Lone

The Iran-Pakistan-India (IPI) gas pipeline project agreement is likely to be inked soon and the pipeline within Pakistan would be laid by the SNGPL. Talking to a private TV channel, SNGPL Managing Director Rashid Lone said the IPI gas pipeline project was
Published 08 Jul, 2007 12:00am
SNGPL to lay IPI gas line in Pakistan: Lone

SNGPL to lay IPI gas line in Pakistan: Lone

The Iran-Pakistan-India (IPI) gas pipeline project agreement is likely to be inked soon and the pipeline within Pakistan would be laid by the SNGPL. Talking to a private TV channel, SNGPL Managing Director Rashid Lone said the IPI gas pipeline project was
Published 08 Jul, 2007 12:00am
SNGPL to lay IPI gas line in Pakistan: Lone

SNGPL to lay IPI gas line in Pakistan: Lone

The Iran-Pakistan-India (IPI) gas pipeline project agreement is likely to be inked soon and the pipeline within Pakistan would be laid by the SNGPL. Talking to a private TV channel, SNGPL Managing Director Rashid Lone said the IPI gas pipeline project was
Published 08 Jul, 2007 12:00am
New Jersey governor signs toughest US carbon law

New Jersey governor signs toughest US carbon law

New Jersey became on Friday the first US state to mandate sharp greenhouse gas reductions by 2050 to help fight climate change. The law, signed by Gov. Jon Corzine, a Democrat, makes New Jersey the latest state to bypass the Bush administration by setting
Published 08 Jul, 2007 12:00am
Kazakhstan to buy Westinghouse stake from Toshiba: report

Kazakhstan to buy Westinghouse stake from Toshiba: report

Kazakhstan is to pay 486.3 million dollars to buy a stake in US nuclear reactor firm Westinghouse from its majority owner Toshiba, news reports said Saturday. The Japanese giant will sign an agreement this month to sell a 10-percent stake in Westinghouse
Published 08 Jul, 2007 12:00am
EU to cut down mission at Gaza-Egypt border

EU to cut down mission at Gaza-Egypt border

The European Union's monitoring mission at the Rafah border between Gaza and Egypt will be reduced because it is unclear when the crossing will be reopened, a mission spokeswoman said on Saturday.
Published 08 Jul, 2007 12:00am
US pursuing increased pressure on Iran

US pursuing increased pressure on Iran

Senior US officials will consult allies in Europe next week on ways to intensify pressure on Iran amid suspicions Tehran is trying to evade sanctions by concealing the origin of financial transactions. US Secretary of State Condoleezza Rice said on Friday
Published 08 Jul, 2007 12:00am
Islamabad and Kabul agree to boost anti-terror fight

Islamabad and Kabul agree to boost anti-terror fight

Afghanistan and Pakistan have agreed on closer co-operation in fighting the Taliban, during talks held in the Turkish capital, the foreign ministry announced Saturday. The agreement between the two countries covers the exchange of information in matters c
Published 08 Jul, 2007 12:00am
Islamabad and Kabul agree to boost anti-terror fight

Islamabad and Kabul agree to boost anti-terror fight

Afghanistan and Pakistan have agreed on closer co-operation in fighting the Taliban, during talks held in the Turkish capital, the foreign ministry announced Saturday. The agreement between the two countries covers the exchange of information in matters c
Published 08 Jul, 2007 12:00am
ACJ orders foolproof security arrangements for judges

ACJ orders foolproof security arrangements for judges

Acting Chief Justice Rana Bhagwandas on Saturday directed the Ministry of Interior and Inspector General of Police Islamabad for making comprehensive and foolproof security arrangements for the judges of the apex court, building of the supreme court, and
Published 08 Jul, 2007 12:00am
EOBI pensions raised by 15 percent

EOBI pensions raised by 15 percent

The Government has increased EOBI pension by 15 percent, and minimum pension has been increased from Rs 1300 to Rs 1500 per month. The EOBI administration has taken prompt steps to enable its 0.3 million old-age and widow pensioners to get increased pensi
Published 08 Jul, 2007 12:00am
EOBI pensions raised by 15 percent

EOBI pensions raised by 15 percent

The Government has increased EOBI pension by 15 percent, and minimum pension has been increased from Rs 1300 to Rs 1500 per month. The EOBI administration has taken prompt steps to enable its 0.3 million old-age and widow pensioners to get increased pensi
Published 08 Jul, 2007 12:00am
EOBI pensions raised by 15 percent

EOBI pensions raised by 15 percent

The Government has increased EOBI pension by 15 percent, and minimum pension has been increased from Rs 1300 to Rs 1500 per month. The EOBI administration has taken prompt steps to enable its 0.3 million old-age and widow pensioners to get increased pensi
Published 08 Jul, 2007 12:00am
Breaches in Saifullah Magsi Canal plugged with army's help

Breaches in Saifullah Magsi Canal plugged with army's help

Sindh Irrigation Department with the assistance of Pakistan Army has plugged two breaches in the right bank of Saifullah Magsi branch of N.W. Canal of Sukkur Barrage at RD 214 and pressure of water on this canal has been reduced.
Published 08 Jul, 2007 12:00am
Breaches in Saifullah Magsi Canal plugged with army's help

Breaches in Saifullah Magsi Canal plugged with army's help

Sindh Irrigation Department with the assistance of Pakistan Army has plugged two breaches in the right bank of Saifullah Magsi branch of N.W. Canal of Sukkur Barrage at RD 214 and pressure of water on this canal has been reduced.
Published 08 Jul, 2007 12:00am
Breaches in Saifullah Magsi Canal plugged with army''s help

Breaches in Saifullah Magsi Canal plugged with army''s help

Sindh Irrigation Department with the assistance of Pakistan Army has plugged two breaches in the right bank of Saifullah Magsi branch of N.W. Canal of Sukkur Barrage at RD 214 and pressure of water on this canal has been reduced.
Published 08 Jul, 2007 12:00am
55,000 tons mango exports fetch $16.50 million

55,000 tons mango exports fetch $16.50 million

Pakistan exported till June 30 55,000 tons mangoes, worth $16.50 million, to Europe, Far East, and various Gulf countries. Sources in Pakistan Horticulture Development and Export Board (PHDEB) told Business Recorder on Saturday that the country had
Published 08 Jul, 2007 12:00am
Expatriates hyped up real estate market after September 11

Expatriates hyped up real estate market after September 11

The incredible hype, which dominated the real estate market during 2002-05 had its roots in the insecurity felt by Pakistanis abroad in the wake of 9/11 events. "Pakistanis living in a post-9/11 Islamophobic West started sending large amounts of money bac
Published 08 Jul, 2007 12:00am
Expatriates hyped up real estate market after September 11

Expatriates hyped up real estate market after September 11

The incredible hype, which dominated the real estate market during 2002-05 had its roots in the insecurity felt by Pakistanis abroad in the wake of 9/11 events. "Pakistanis living in a post-9/11 Islamophobic West started sending large amounts of money bac
Published 08 Jul, 2007 12:00am
Expatriates hyped up real estate market after September 11

Expatriates hyped up real estate market after September 11

The incredible hype, which dominated the real estate market during 2002-05 had its roots in the insecurity felt by Pakistanis abroad in the wake of 9/11 events. "Pakistanis living in a post-9/11 Islamophobic West started sending large amounts of money bac
Published 08 Jul, 2007 12:00am
12 Pakistani held in Ukraine

12 Pakistani held in Ukraine

Ukrainian authorities arrested 12 illegal immigrants from Pakistan and five from Somalia in two raids near to the country's western frontier, border guards announced on Saturday. Ten Pakistanis were arrested on Friday by a joint operation of police and bo
Published 08 Jul, 2007 12:00am
12 Pakistani held in Ukraine

12 Pakistani held in Ukraine

Ukrainian authorities arrested 12 illegal immigrants from Pakistan and five from Somalia in two raids near to the country's western frontier, border guards announced on Saturday. Ten Pakistanis were arrested on Friday by a joint operation of police and bo
Published 08 Jul, 2007 12:00am
Government fails to introduce high quality Bt cotton seed

Government fails to introduce high quality Bt cotton seed

After years of research, spending billions in research and giving hopes to farmers, the government has failed to introduce a high quality Bt cotton seed. Sources told Business Recorder that the cotton growers are in a very difficult situation becau
Published 08 Jul, 2007 12:00am
Government fails to introduce high quality Bt cotton seed

Government fails to introduce high quality Bt cotton seed

After years of research, spending billions in research and giving hopes to farmers, the government has failed to introduce a high quality Bt cotton seed. Sources told Business Recorder that the cotton growers are in a very difficult situation becau
Published 08 Jul, 2007 12:00am
Government fails to introduce high quality Bt cotton seed

Government fails to introduce high quality Bt cotton seed

After years of research, spending billions in research and giving hopes to farmers, the government has failed to introduce a high quality Bt cotton seed. Sources told Business Recorder that the cotton growers are in a very difficult situation becau
Published 08 Jul, 2007 12:00am
105 Iraqis killed in suicide attack: nine US troops killed

105 Iraqis killed in suicide attack: nine US troops killed

A suicide truck bomber ripped the heart out of a northern Iraqi village on Saturday, killing at least 105 people and demolishing dozens of homes and shops, police and medics said. Ambulances and private cars ferried dozens of bloodied corpses and wounded
Published 08 Jul, 2007 12:00am
President reassures Balochistan's flood victims

President reassures Balochistan's flood victims

President General Pervez Musharraf reiterated Saturday that the government would start rehabilitation work in all flood-hit areas of Balochistan without delay and assured that the affected villages would be reconstructed with better planning.
Published 08 Jul, 2007 12:00am
'Efforts on to facilitate expansion of media'

'Efforts on to facilitate expansion of media'

Prime Minister Shaukat Aziz on Saturday said the government firmly believed in the freedom of the press and was making all efforts to facilitate the expansion and development of the media in Pakistan. He was talking to a three-member delegation of the Col
Published 08 Jul, 2007 12:00am
Ministry to confer awards on youth

Ministry to confer awards on youth

Ministry of Youth Affairs will honour youth with awards for their excellent work in different fields on Youth Day (August 12). The sources said on Saturday that the award would comprise a shield and a certificate along with cash award of Rs 50,000 in each
Published 08 Jul, 2007 12:00am
CII asked to identify Zakat deductible assets

CII asked to identify Zakat deductible assets

Senate Standing Committee on Religious Affairs has asked Council of Islamic Ideology (CII) to identify Zakat deductible assets to overcome the expected short fall of Rs 5.5 billion in this regard. The committee met with its Chairman Maulana Sami-ul-Haq at
Published 08 Jul, 2007 12:00am
Lal Masjid crisis: Supreme Court urged to take suo motu notice

Lal Masjid crisis: Supreme Court urged to take suo motu notice

President of his own faction of Jamait-e-Ullma Islam, Maulana Sami-ul-Haq has urged the Supreme Court of Pakistan to take suo motu notice to get resolved the Lal Masjid issue. Talking to newsmen here on Saturday, Maulana said that Lal Masjid issue is mere
Published 08 Jul, 2007 12:00am
Islamic banking: deposit-profit ratio not satisfactory: economist

Islamic banking: deposit-profit ratio not satisfactory: economist

Islamic banking in Pakistan is gradually gaining popularity as the deposits and profits under this system during the first quarter of current year have risen by 15 percent and 14 percent respectively, but the economists consider this ratio unsatisfactory.
Published 08 Jul, 2007 12:00am
Islamic banking: deposit-profit ratio not satisfactory: economist

Islamic banking: deposit-profit ratio not satisfactory: economist

Islamic banking in Pakistan is gradually gaining popularity as the deposits and profits under this system during the first quarter of current year have risen by 15 percent and 14 percent respectively, but the economists consider this ratio unsatisfactory.
Published 08 Jul, 2007 12:00am
Islamic banking: deposit-profit ratio not satisfactory: economist

Islamic banking: deposit-profit ratio not satisfactory: economist

Islamic banking in Pakistan is gradually gaining popularity as the deposits and profits under this system during the first quarter of current year have risen by 15 percent and 14 percent respectively, but the economists consider this ratio unsatisfactory.
Published 08 Jul, 2007 12:00am
Opposition leaders for restoring 1973 Constitution

Opposition leaders for restoring 1973 Constitution

Participants attending the All Parties Conference hosted under the banner of Alliance for the Restoration of Democracy (ARD) on Saturday urged the formation of joint opposition alliance. Delegates belonging to 37 political parties and representatives of t
Published 08 Jul, 2007 12:00am
Opposition leaders for restoring 1973 Constitution

Opposition leaders for restoring 1973 Constitution

Participants attending the All Parties Conference hosted under the banner of Alliance for the Restoration of Democracy (ARD) on Saturday urged the formation of joint opposition alliance. Delegates belonging to 37 political parties and representatives of t
Published 08 Jul, 2007 12:00am
Ibad asks KESC to implement plans on fast track basis

Ibad asks KESC to implement plans on fast track basis

Sindh Governor, Dr Ishratul Ibad Khan has called upon the KESC to carry out its short and long term plans, particularly with reference to power generation programme, on a fast track basis.
Published 08 Jul, 2007 12:00am
Rs 50 million allocated for agriculture uplift in Northern Areas

Rs 50 million allocated for agriculture uplift in Northern Areas

The present government is providing maximum facilities to the farmers and has allocated Rs 50 million for different agriculture development projects in Northern Areas. This was stated by Advisor Information and Broadcasting NAs, Captain Siknadar Ali (Retd
Published 08 Jul, 2007 12:00am
New Sabzi Mandi problems discussed

New Sabzi Mandi problems discussed

Latifabad Taluka Nazim Engineer Sabir Hussein Qaimkhani and City Taluka Nazim Javaid Jabbar have met Director Agriculture (Extension) Naeem Ahmed Korijo and discussed problems of new Sabzi Mandi Halanaka and vegetable market, Hali Road.
Published 08 Jul, 2007 12:00am
French assistance for flood victims

French assistance for flood victims

France has sent its relief assistance, worth over Rs 20 million, to the flood affected areas of Sindh and Balochistan. The French ambassador to Pakistan Rgis de Belenet said the relief assistance is response to the Pakistan's appeal and plane landed in Ka
Published 08 Jul, 2007 12:00am
Flood-hit areas: IFRC to conduct loss assessment

Flood-hit areas: IFRC to conduct loss assessment

A five-member team of Geneva-based International Federation of Red Cross/Red Crescent (IFRC) has left here for rain and flood affected areas in Sindh and Balochistan to conduct assessment of losses.
Published 08 Jul, 2007 12:00am
Rehabilitation of quake-hit AJK zone in full swing

Rehabilitation of quake-hit AJK zone in full swing

The commendable efforts of Pakistan government, Pak Army, UN agencies, donors countries and NGOs for early rehabilitation and reconstruction of quake affected areas of Azad Jammu Kashmir have yielded positive results vis-à-vis for bringing the life back t
Published 08 Jul, 2007 12:00am
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