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Archive - 2010-12-22
India scraps onion tax as prices soar
Top News

India scraps onion tax as prices soar

NEW DELHI: The Indian government, facing mounting public anger over soaring onion costs, on Wednesday scrapped tax on
Published 22 Dec, 2010 08:20am
Automakers in peril
BR Research

Automakers in peril

With the government aggressively mulling over strategies to reduce car prices, game changing dynamics appear to be on the horizon for the lo
Published 22 Dec, 2010 12:00am
The wrath of the winters
BR Research

The wrath of the winters

As if economic pressures weren enough for the eurozone, nature decided to play catch up for its share of battering up the EU countries too.
Published 22 Dec, 2010 12:00am
UK's top share index soars

UK's top share index soars

Britain's top share index held firm on Tuesday, led by strength in commodity shares and a bounce by banks, though volumes were thin as the Christmas holidays approached. The FTSE 100 index added 1.09 percent to finish at 5,951.80 points.
Published 22 Dec, 2010 12:00am
European stocks advance

European stocks advance

European stock markets posted solid gains Tuesday in thin, holiday trade, with investors defying revived eurozone debt worries after Portugal was hit by a downgrade threat. The advances were supported by positive corporate news, particularly in the oil an
Published 22 Dec, 2010 12:00am
Indian shares stay higher

Indian shares stay higher

Indian shares rose for the third straight session and closed 0.9 percent higher on Tuesday helped by firm world equities and investor optimism surrounding next year's prospects. Financials and metal producers were the top gainers, propelling the index to
Published 22 Dec, 2010 12:00am
Seoul shares hit 38-month high

Seoul shares hit 38-month high

Seoul shares bounced and hit a 38-month closing high on Tuesday as investor anxiety over growing geopolitical tensions in the Korean peninsula eased, and the market was lifted by gains in steelmakers and crude oil refiners. The Korea Composite Stock Price
Published 22 Dec, 2010 12:00am
Hong Kong and Shanghai shares up

Hong Kong and Shanghai shares up

Hong Kong and Shanghai stocks rebounded on Tuesday as mainland property developers soared on signs urban prices would continue to rise and as coal producers rallied. The Hang Seng rose 1.6 percent, rallying from a two month low on Monday although daily tu
Published 22 Dec, 2010 12:00am
South East Asian markets: Indonesia leads regional gains

South East Asian markets: Indonesia leads regional gains

Southeast Asian stock markets rose on Tuesday as investors sought bargains from recently-beaten shares with promising outlooks, including Thai refiners and financial stocks across the region. Trading remained lacklustre, with volume falling by half in mos
Published 22 Dec, 2010 12:00am
Long-dated Treauries slip

Long-dated Treauries slip

Prices of long-dated US Treasury prices slipped on Monday, ending a two-day bounce. In contrast, year-end demand for liquidity sustained demand for shorter-term paper. Even among longer maturities, however, losses were slim, so the two-day bounce ended no
Published 22 Dec, 2010 12:00am
Long-dated Treauries slip

Long-dated Treauries slip

Prices of long-dated US Treasury prices slipped on Monday, ending a two-day bounce. In contrast, year-end demand for liquidity sustained demand for shorter-term paper. Even among longer maturities, however, losses were slim, so the two-day bounce ended no
Published 22 Dec, 2010 12:00am
Wall Street rises

Wall Street rises

US stocks tacked on further gains to push the S&P 500 to a two-year high on Monday, continuing a steady upward march investors believe will continue in 2011. Volume was light, as is expected through the rest of 2010. Investors stayed with sectors that hav
Published 22 Dec, 2010 12:00am
Tuesday's early trade: merger action, earnings push stocks higher

Tuesday's early trade: merger action, earnings push stocks higher

US stocks rose on Tuesday as solid earnings and a new flurry of merger action laid the foundation for a steady upward trend in the equities market that investors believe will continue. US stock indexes hit new highs after topping key technical resistance
Published 22 Dec, 2010 12:00am
Nikkei hits seven-month high

Nikkei hits seven-month high

Japan's Nikkei average rose to its highest close in seven months on Tuesday in holiday-thinned trade, as a rebound in Chinese equities encouraged investors to pick up shares after a brief pull-back the day before. Investors shrugged off a slightly stronge
Published 22 Dec, 2010 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan's main TAIEX share index closed 59.07 points higher at 8,827.79 on Tuesday. Textile stocks led the way, up 2 percent, with Far Eastern New Century rising 3.3 percent after announcing a China joint venture. Food, opto-electronics and transport share
Published 22 Dec, 2010 12:00am
Middle East markets: Saudi index touches seven-month high

Middle East markets: Saudi index touches seven-month high

Saudi Arabia's index hit a new seven-month peak on Tuesday, but blue chips were little moved in a muted response to the kingdom's record budget. Saudi plans to spend 580 billion riyals ($155 billion) in 2011 as it tries to create jobs for its fast-growing
Published 22 Dec, 2010 12:00am
19th Amendment Bill 2010: report laid before National Assembly

19th Amendment Bill 2010: report laid before National Assembly

Chairman Parliamentary Committee on the Constitution Reforms Senator Mian Raza Rabbani Tuesday presented its report on the Constitution (Nineteenth Amendment) Bill, 2010 in the National Assembly pertaining to the procedure of appointment of superior court
Published 22 Dec, 2010 12:00am
Canada's consumer confidence index falls

Canada's consumer confidence index falls

Consumer confidence in Canada slipped in December, ending the year nearly unchanged from where it was a year ago, the Conference Board of Canada said on Tuesday. The board's consumer confidence index slipped 2.6 points to 81, marking a seventh month this
Published 22 Dec, 2010 12:00am
19th Amendment Bill 2010: report laid before National Assembly

19th Amendment Bill 2010: report laid before National Assembly

Chairman Parliamentary Committee on the Constitution Reforms Senator Mian Raza Rabbani Tuesday presented its report on the Constitution (Nineteenth Amendment) Bill, 2010 in the National Assembly pertaining to the procedure of appointment of superior court
Published 22 Dec, 2010 12:00am
Mexico consumer spending accelerates

Mexico consumer spending accelerates

Mexican consumer spending accelerated in the third quarter, bolstering an improving outlook for the country's economic recovery. Private spending rose 1.87 percent during the third quarter compared with the previous three-month period, the national statis
Published 22 Dec, 2010 12:00am
19th Amendment Bill 2010: report laid before National Assembly

19th Amendment Bill 2010: report laid before National Assembly

Chairman Parliamentary Committee on the Constitution Reforms Senator Mian Raza Rabbani Tuesday presented its report on the Constitution (Nineteenth Amendment) Bill, 2010 in the National Assembly pertaining to the procedure of appointment of superior court
Published 22 Dec, 2010 12:00am
Rehn says EU should not rule out option for eurozone bond

Rehn says EU should not rule out option for eurozone bond

The European Union's top economic official said the bloc needs to keep its options open about the possibility of issuing a common eurozone bond to fight its debt crisis, an idea that Germany publicly opposes. Olli Rehn, the EU's economic and monetary affa
Published 22 Dec, 2010 12:00am
Presentation of report reflects 'political maturity': Prime Minister

Presentation of report reflects 'political maturity': Prime Minister

Paying tributes to the apex court for its magnanimous decision of sending the 18th Constitutional Amendment back to the Parliament for re-consideration, Prime Minister Yousuf Raza Gilani on Tuesday said that presentation of a unanimous report on 19th Cons
Published 22 Dec, 2010 12:00am
Rehn says EU should not rule out option for eurozone bond

Rehn says EU should not rule out option for eurozone bond

The European Union's top economic official said the bloc needs to keep its options open about the possibility of issuing a common eurozone bond to fight its debt crisis, an idea that Germany publicly opposes. Olli Rehn, the EU's economic and monetary affa
Published 22 Dec, 2010 12:00am
Presentation of report reflects 'political maturity': Prime Minister

Presentation of report reflects 'political maturity': Prime Minister

Paying tributes to the apex court for its magnanimous decision of sending the 18th Constitutional Amendment back to the Parliament for re-consideration, Prime Minister Yousuf Raza Gilani on Tuesday said that presentation of a unanimous report on 19th Cons
Published 22 Dec, 2010 12:00am
Moody's downgrades two Spanish regional governments

Moody's downgrades two Spanish regional governments

Moody's rating agency said Tuesday it has downgraded its credit rating for two of Spain's 17 regional governments, a week after it warned it may lower the central government's rating. The New York-based agency lowered its long-term rating on the governmen
Published 22 Dec, 2010 12:00am
Imports and Exports Bill introduced in National Assembly

Imports and Exports Bill introduced in National Assembly

The Imports and Exports (Control) (Amendment) Bill, 2010 was introduced in the National Assembly on Tuesday. Nisar Tanveer presented the Bill in the Lower House of the Parliament. Federal Minister for Law did not oppose the Bill. Speaker Dr Fehmida Mirza
Published 22 Dec, 2010 12:00am
Irish 'bad bank' eyes asset transfers to spouses

Irish 'bad bank' eyes asset transfers to spouses

Ireland's National Asset Management Agency (NAMA) will take legal action against property developers who have transferred assets to their spouses to prevent them being seized by the state-run "bad bank". The National Asset Management Agency (NAMA) said on
Published 22 Dec, 2010 12:00am
Imports and Exports Bill introduced in National Assembly

Imports and Exports Bill introduced in National Assembly

The Imports and Exports (Control) (Amendment) Bill, 2010 was introduced in the National Assembly on Tuesday. Nisar Tanveer presented the Bill in the Lower House of the Parliament. Federal Minister for Law did not oppose the Bill. Speaker Dr Fehmida Mirza
Published 22 Dec, 2010 12:00am
Irish 'bad bank' eyes asset transfers to spouses

Irish 'bad bank' eyes asset transfers to spouses

Ireland's National Asset Management Agency (NAMA) will take legal action against property developers who have transferred assets to their spouses to prevent them being seized by the state-run "bad bank". The National Asset Management Agency (NAMA) said on
Published 22 Dec, 2010 12:00am
Imports and Exports Bill introduced in National Assembly

Imports and Exports Bill introduced in National Assembly

The Imports and Exports (Control) (Amendment) Bill, 2010 was introduced in the National Assembly on Tuesday. Nisar Tanveer presented the Bill in the Lower House of the Parliament. Federal Minister for Law did not oppose the Bill. Speaker Dr Fehmida Mirza
Published 22 Dec, 2010 12:00am
Go 'long on women' for profits: BofA Merrill

Go 'long on women' for profits: BofA Merrill

US recession wounds are healing faster for women than for men, so there is money to be made for companies that cater to women, economists at Bank of America-Merrill Lynch said on Tuesday. The unemployment rate for women is almost two full percentage point
Published 22 Dec, 2010 12:00am
Hatf V launched: Pakistan's defence impregnable: Gilani

Hatf V launched: Pakistan's defence impregnable: Gilani

Prime Minister Syed Yousuf Raza Gilani Tuesday said Pakistan's defence capability was impregnable and should never be challenged. Addressing at the successful launch of Medium Range Ballistic Missile Hatf V (Ghauri) that can carry both conventional and nu
Published 22 Dec, 2010 12:00am
Kenya's economy grows

Kenya's economy grows

Kenya's economy grew 6.1 percent in the third quarter this year, well up from 0.5 percent in the same period last year, buoyed mainly by agriculture and nearing levels reached before deadly post-election violence in 2008. The Kenya National Bureau of Stat
Published 22 Dec, 2010 12:00am
Hatf V launched: Pakistan's defence impregnable: Gilani

Hatf V launched: Pakistan's defence impregnable: Gilani

Prime Minister Syed Yousuf Raza Gilani Tuesday said Pakistan's defence capability was impregnable and should never be challenged. Addressing at the successful launch of Medium Range Ballistic Missile Hatf V (Ghauri) that can carry both conventional and nu
Published 22 Dec, 2010 12:00am
Rice prices turn higher on grain market

Rice prices turn higher on grain market

Rice prices were up on the wholesales grain and seed market on Tuesday in process of slow trading, dealers said. On the rice sector, Irri-9 Sindh gained Rs 200 to 4100-4200, Basmati 386 old gained Rs 400 to Rs 5200-5400 and new type was also quoted at the
Published 22 Dec, 2010 12:00am
What empowers FBR to waive past ST liability?

What empowers FBR to waive past ST liability?

The biggest anti-documentation law is part of the Sales Tax Act 1990, which empowers the Federal Board of Revenue (FBR) to waive past sales tax liability of any person on the ground that nobody had paid sales tax in the past. Sources told Business Reco
Published 22 Dec, 2010 12:00am
Bangladesh tea prices fall

Bangladesh tea prices fall

The average price of Bangladeshi teas fell 2.0 percent to 189.96 taka ($2.69) per kg at the weekly auction on Tuesday, brokers said. More than 1.61 million kg were sold at the sale, leaving 5.20 percent of the offer to be carried back. Bangladeshi buyers
Published 22 Dec, 2010 12:00am
What empowers FBR to waive past ST liability?

What empowers FBR to waive past ST liability?

The biggest anti-documentation law is part of the Sales Tax Act 1990, which empowers the Federal Board of Revenue (FBR) to waive past sales tax liability of any person on the ground that nobody had paid sales tax in the past. Sources told Business Reco
Published 22 Dec, 2010 12:00am
All-round increase seen in prices on cotton market

All-round increase seen in prices on cotton market

Official spot rate maintained upward march on the cotton market on Tuesday amid slight fall in buying by the mills and exporters, dealers said. The Karachi Cotton Association (KCA) spot rate was extended overnight gains by Rs 100 to Rs 9,300. Seed cotton
Published 22 Dec, 2010 12:00am
What empowers FBR to waive past ST liability?

What empowers FBR to waive past ST liability?

The biggest anti-documentation law is part of the Sales Tax Act 1990, which empowers the Federal Board of Revenue (FBR) to waive past sales tax liability of any person on the ground that nobody had paid sales tax in the past. Sources told Business Reco
Published 22 Dec, 2010 12:00am
Oil cake market rates

Oil cake market rates

The December vaida was inert and the January contract was lower on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The December vaida that had closed at Rs 1178.00 commenced with no change at the same rate, dealers sa
Published 22 Dec, 2010 12:00am
A cold front will sweep Brazil's coffee-producing areas

A cold front will sweep Brazil's coffee-producing areas

A cold front will sweep across the coffee-producing areas of Brazil over the course of the week, bringing with it a thin blanket of rain, forecaster Somar said on Monday. Rainfall in the growing regions concentrated in the south-east has been average or b
Published 22 Dec, 2010 12:00am
Karachi Port's activities

Karachi Port's activities

The Karachi Port handled 157,280 tonnes of cargo including 100,224 tonnes of import cargo, 57,055 tonnes of export cargo, 5,884 loaded and empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 100,224 tonnes compr
Published 22 Dec, 2010 12:00am
Algeria tenders to buy 50,000 tonnes of durum wheat

Algeria tenders to buy 50,000 tonnes of durum wheat

Algeria's state grain buyer is tendering to buy 50,000 tonnes of optional origin durum wheat for shipment in January 1-15, European traders said on Tuesday. The bidding deadline was on Tuesday, they said. Grains should come from Canada, the United States
Published 22 Dec, 2010 12:00am
CNG, captive power: plan in the offing to raise gas tariff

CNG, captive power: plan in the offing to raise gas tariff

Under power sector reforms programme, the government is planning to increase gas prices, for CNG sector and captive power generation plants, to reach price parity with petroleum products with the objective of discouraging use of gas as a cheaper product.
Published 22 Dec, 2010 12:00am
US and European wheat firm after strong gains

US and European wheat firm after strong gains

Wheat prices were firm on Tuesday with the US futures trading close to a 19-week top hit in the last session on concerns over supplies next year. Corn edged higher as hot weather and limited rainfall in Argentina fuelled worries about crop prospects in th
Published 22 Dec, 2010 12:00am
CNG, captive power: plan in the offing to raise gas tariff

CNG, captive power: plan in the offing to raise gas tariff

Under power sector reforms programme, the government is planning to increase gas prices, for CNG sector and captive power generation plants, to reach price parity with petroleum products with the objective of discouraging use of gas as a cheaper product.
Published 22 Dec, 2010 12:00am
Soyabean premiums flat at US Gulf Coast

Soyabean premiums flat at US Gulf Coast

Soyabean export premiums at the US Gulf Coast were flat on Monday amid poor demand from China for spot shipments and moderate demand from the world's top soya importer for deferred US supplies, traders said. Poor nearby crush margins at Chinese processors
Published 22 Dec, 2010 12:00am
CNG, captive power: plan in the offing to raise gas tariff

CNG, captive power: plan in the offing to raise gas tariff

Under power sector reforms programme, the government is planning to increase gas prices, for CNG sector and captive power generation plants, to reach price parity with petroleum products with the objective of discouraging use of gas as a cheaper product.
Published 22 Dec, 2010 12:00am
Kenyan tea prices rise

Kenyan tea prices rise

The average price of the top Kenyan tea grade rose to $3.74 at this week's auction from $3.66 per kg at the previous sale, brokers said on Tuesday. Best Broken Pekoe Ones (BP1s) fetched $4.10-$3.38 per kg from $4.02-$3.30 per kg last week. Africa Tea Brok
Published 22 Dec, 2010 12:00am
New York cotton

New York cotton

Monday's closing prices of New York cotton in US cents/lb.

Published 22 Dec, 2010 12:00am
New York cotton

New York cotton

Monday's closing prices of New York cotton in US cents/lb.

Published 22 Dec, 2010 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 22 Dec, 2010 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 22 Dec, 2010 12:00am
Index loses 18.59 points

Index loses 18.59 points

The Karachi share market on Tuesday witnessed negative trend and the KSE-100 index declined by 18.59 points, or 0.16 percent, to close at 11,825.06 points. The index hit 11,897.17 points intra-day high and 11,810.40 points low. Trading volume at ready cou
Published 22 Dec, 2010 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 Tuesday (December 21, 2010).

Published 22 Dec, 2010 12:00am
Index loses 18.59 points

Index loses 18.59 points

The Karachi share market on Tuesday witnessed negative trend and the KSE-100 index declined by 18.59 points, or 0.16 percent, to close at 11,825.06 points. The index hit 11,897.17 points intra-day high and 11,810.40 points low. Trading volume at ready cou
Published 22 Dec, 2010 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 Tuesday (December 21, 2010).

Published 22 Dec, 2010 12:00am
Index loses 18.59 points

Index loses 18.59 points

The Karachi share market on Tuesday witnessed negative trend and the KSE-100 index declined by 18.59 points, or 0.16 percent, to close at 11,825.06 points. The index hit 11,897.17 points intra-day high and 11,810.40 points low. Trading volume at ready cou
Published 22 Dec, 2010 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 Tuesday (December 21, 2010).

Published 22 Dec, 2010 12:00am
BRIndex30 down 4.52 points

BRIndex30 down 4.52 points

On Tuesday, the BRIndex30 opened at 8,811.82 points and, after remaining in green for around two hours since market opening, started recording fluctuations; touching the intra-day high of 8,881.10 points and low of 8,795.03 points, and closed at 8,807.30
Published 22 Dec, 2010 12:00am
BRIndex30 down 4.52 points

BRIndex30 down 4.52 points

On Tuesday, the BRIndex30 opened at 8,811.82 points and, after remaining in green for around two hours since market opening, started recording fluctuations; touching the intra-day high of 8,881.10 points and low of 8,795.03 points, and closed at 8,807.30
Published 22 Dec, 2010 12:00am
India, Russia sign fighter jet, nuclear cooperation deals

India, Russia sign fighter jet, nuclear cooperation deals

Russia and India agreed Tuesday on a series of defence and nuclear deals potentially worth billions of dollars and pledged to deepen co-operation on counter-terrorism and regional security. The agreements surrounded talks in New Delhi between visiting Rus
Published 22 Dec, 2010 12:00am
India, Russia sign fighter jet, nuclear cooperation deals

India, Russia sign fighter jet, nuclear cooperation deals

Russia and India agreed Tuesday on a series of defence and nuclear deals potentially worth billions of dollars and pledged to deepen co-operation on counter-terrorism and regional security. The agreements surrounded talks in New Delhi between visiting Rus
Published 22 Dec, 2010 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 Tuesday (December 21, 2010).

Published 22 Dec, 2010 12:00am
SHC stays two-day weekly gas suspension

SHC stays two-day weekly gas suspension

A division bench of Sindh High Court comprising Chief Justice Sarmad Jalal Osmany and Justice Salman Hamid on Tuesday passed stay order against two-day a week suspension of gas to CNG fillings stations by Sui Southern Gas Company Limited. A notice was als
Published 22 Dec, 2010 12:00am
SHC stays two-day weekly gas suspension

SHC stays two-day weekly gas suspension

A division bench of Sindh High Court comprising Chief Justice Sarmad Jalal Osmany and Justice Salman Hamid on Tuesday passed stay order against two-day a week suspension of gas to CNG fillings stations by Sui Southern Gas Company Limited. A notice was als
Published 22 Dec, 2010 12:00am
SHC stays two-day weekly gas suspension

SHC stays two-day weekly gas suspension

A division bench of Sindh High Court comprising Chief Justice Sarmad Jalal Osmany and Justice Salman Hamid on Tuesday passed stay order against two-day a week suspension of gas to CNG fillings stations by Sui Southern Gas Company Limited. A notice was als
Published 22 Dec, 2010 12:00am
IMF SBA: nine-month extension sought, says Hafeez

IMF SBA: nine-month extension sought, says Hafeez

Pakistan has requested the International Monetary Fund (IMF) for nine months extension in $11.3 billion Stand-By-Arrangement (SBA) programme, expiring officially on December 13, to comply with the performance criteria to qualify for remaining two instalme
Published 22 Dec, 2010 12:00am
IMF SBA: nine-month extension sought, says Hafeez

IMF SBA: nine-month extension sought, says Hafeez

Pakistan has requested the International Monetary Fund (IMF) for nine months extension in $11.3 billion Stand-By-Arrangement (SBA) programme, expiring officially on December 13, to comply with the performance criteria to qualify for remaining two instalme
Published 22 Dec, 2010 12:00am
IMF SBA: nine-month extension sought, says Hafeez

IMF SBA: nine-month extension sought, says Hafeez

Pakistan has requested the International Monetary Fund (IMF) for nine months extension in $11.3 billion Stand-By-Arrangement (SBA) programme, expiring officially on December 13, to comply with the performance criteria to qualify for remaining two instalme
Published 22 Dec, 2010 12:00am
Meaningful changes in realms of finance

Meaningful changes in realms of finance

Prime Minister Gilani has transferred Secretary Finance Salman Siddique to Revenue Division and brought Dr Wiqar Masood Khan back into Finance from the Textile Ministry. The retirement of Secretary Planning Aslam Hayat gave the opportunity to the Prime Mi
Published 22 Dec, 2010 12:00am
Meaningful changes in realms of finance

Meaningful changes in realms of finance

Prime Minister Gilani has transferred Secretary Finance Salman Siddique to Revenue Division and brought Dr Wiqar Masood Khan back into Finance from the Textile Ministry. The retirement of Secretary Planning Aslam Hayat gave the opportunity to the Prime Mi
Published 22 Dec, 2010 12:00am
Meaningful changes in realms of finance

Meaningful changes in realms of finance

Prime Minister Gilani has transferred Secretary Finance Salman Siddique to Revenue Division and brought Dr Wiqar Masood Khan back into Finance from the Textile Ministry. The retirement of Secretary Planning Aslam Hayat gave the opportunity to the Prime Mi
Published 22 Dec, 2010 12:00am
Government borrowing up by 346 percent

Government borrowing up by 346 percent

The federal government's reliance on the banking system for meeting the financing needs is significantly rising as its borrowing from the State Bank of Pakistan (SBP) for budgetary support has registered a massive increase of 346 percent during current fi
Published 22 Dec, 2010 12:00am
Government borrowing up by 346 percent

Government borrowing up by 346 percent

The federal government's reliance on the banking system for meeting the financing needs is significantly rising as its borrowing from the State Bank of Pakistan (SBP) for budgetary support has registered a massive increase of 346 percent during current fi
Published 22 Dec, 2010 12:00am
Government borrowing up by 346 percent

Government borrowing up by 346 percent

The federal government''s reliance on the banking system for meeting the financing needs is significantly rising as its borrowing from the State Bank of Pakistan (SBP) for budgetary support has registered a massive increase of 346 percent during current f
Published 22 Dec, 2010 12:00am
ISAF denies news report of raids into Pakistan

ISAF denies news report of raids into Pakistan

A senior official for the Nato-led forces in Afghanistan on Tuesday strongly denied a report in The New York Times that the United States was considering expanding Special Forces raids into Pakistan. Tensions between the United States and Pakistan are alr
Published 22 Dec, 2010 12:00am
ISAF denies news report of raids into Pakistan

ISAF denies news report of raids into Pakistan

A senior official for the Nato-led forces in Afghanistan on Tuesday strongly denied a report in The New York Times that the United States was considering expanding Special Forces raids into Pakistan. Tensions between the United States and Pakistan are alr
Published 22 Dec, 2010 12:00am
Liara Sukuk to raise Rs 80 billion

Liara Sukuk to raise Rs 80 billion

The State Bank of Pakistan (SBP) has announced issuance of a new 3-year Government of Pakistan Liara Sukuk. Under this scheme the federal government has planned to raise Rs 80 billion in the second half of current 2010-11 fiscal year, said an official sta
Published 22 Dec, 2010 12:00am
Liara Sukuk to raise Rs 80 billion

Liara Sukuk to raise Rs 80 billion

The State Bank of Pakistan (SBP) has announced issuance of a new 3-year Government of Pakistan Liara Sukuk. Under this scheme the federal government has planned to raise Rs 80 billion in the second half of current 2010-11 fiscal year, said an official sta
Published 22 Dec, 2010 12:00am
Liara Sukuk to raise Rs 80 billion

Liara Sukuk to raise Rs 80 billion

The State Bank of Pakistan (SBP) has announced issuance of a new 3-year Government of Pakistan Liara Sukuk. Under this scheme the federal government has planned to raise Rs 80 billion in the second half of current 2010-11 fiscal year, said an official sta
Published 22 Dec, 2010 12:00am
Liara Sukuk to raise Rs 80 billion

Liara Sukuk to raise Rs 80 billion

The State Bank of Pakistan (SBP) has announced issuance of a new 3-year Government of Pakistan Liara Sukuk. Under this scheme the federal government has planned to raise Rs 80 billion in the second half of current 2010-11 fiscal year, said an official sta
Published 22 Dec, 2010 12:00am
Bearish sentiments prevail on LSE

Bearish sentiments prevail on LSE

Bearish sentiments prevailed on the Lahore Stock Exchange (LSE) and the equities registered declines amid ascending transaction volume on account of selling pressure due to profit taking. The LSE-25 index lost 16.08 points and was ended at 3661.20 points
Published 22 Dec, 2010 12:00am
Bearish sentiments prevail on LSE

Bearish sentiments prevail on LSE

Bearish sentiments prevailed on the Lahore Stock Exchange (LSE) and the equities registered declines amid ascending transaction volume on account of selling pressure due to profit taking. The LSE-25 index lost 16.08 points and was ended at 3661.20 points
Published 22 Dec, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Tuesday (December 21, 2010).

Published 22 Dec, 2010 12:00am
Zardari arrives in Istanbul

Zardari arrives in Istanbul

President Asif Ali Zardari arrived here on Tuesday to represent Pakistan at the 11th Heads of State and Government Summit of Economic Co-operation Organisation (ECO), being held here on December 22 and 23. President Zardari was received at the Ataturk Int
Published 22 Dec, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Tuesday (December 21, 2010).

Published 22 Dec, 2010 12:00am
Sheikh Khalifa Bridge: CoAS attends groundbreaking ceremony

Sheikh Khalifa Bridge: CoAS attends groundbreaking ceremony

The Chief of Army Staff (CoAS) General Ashfaq Parvez Kayani visited Swat on Tuesday and attended the groundbreaking ceremony of Sheikh Khalifa Bin Zayed Al Nahyan Bridge near Barikot. According to ISPR press release here on Tuesday, the bridge is being co
Published 22 Dec, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Tuesday (December 21, 2010).

Published 22 Dec, 2010 12:00am
Sheikh Khalifa Bridge: CoAS attends groundbreaking ceremony

Sheikh Khalifa Bridge: CoAS attends groundbreaking ceremony

The Chief of Army Staff (CoAS) General Ashfaq Parvez Kayani visited Swat on Tuesday and attended the groundbreaking ceremony of Sheikh Khalifa Bin Zayed Al Nahyan Bridge near Barikot. According to ISPR press release here on Tuesday, the bridge is being co
Published 22 Dec, 2010 12:00am
Sheikh Khalifa Bridge: CoAS attends groundbreaking ceremony

Sheikh Khalifa Bridge: CoAS attends groundbreaking ceremony

The Chief of Army Staff (CoAS) General Ashfaq Parvez Kayani visited Swat on Tuesday and attended the groundbreaking ceremony of Sheikh Khalifa Bin Zayed Al Nahyan Bridge near Barikot. According to ISPR press release here on Tuesday, the bridge is being co
Published 22 Dec, 2010 12:00am
Key posts: acting governor can make appointments on advice of CM: LHC

Key posts: acting governor can make appointments on advice of CM: LHC

A full bench of the Lahore High Court dismissing a petition challenging appointments of chairman and Ombudsman Punjab Services Tribunal made by Punjab Assembly speaker as acting governor held that acting governor can make appointments on key posts on the
Published 22 Dec, 2010 12:00am
Key posts: acting governor can make appointments on advice of CM: LHC

Key posts: acting governor can make appointments on advice of CM: LHC

A full bench of the Lahore High Court dismissing a petition challenging appointments of chairman and Ombudsman Punjab Services Tribunal made by Punjab Assembly speaker as acting governor held that acting governor can make appointments on key posts on the
Published 22 Dec, 2010 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 22 Dec, 2010 12:00am
SBP to buy back government paper in reverse repo

SBP to buy back government paper in reverse repo

The State Bank of Pakistan said it would buy back government paper from commercial banks on Tuesday in six-day reverse repo contracts to inject funds into the money market. The State Bank did not say how much money it would inject in the Open Market Opera
Published 22 Dec, 2010 12:00am
SBP to buy back government paper in reverse repo

SBP to buy back government paper in reverse repo

The State Bank of Pakistan said it would buy back government paper from commercial banks on Tuesday in six-day reverse repo contracts to inject funds into the money market. The State Bank did not say how much money it would inject in the Open Market Opera
Published 22 Dec, 2010 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 22 Dec, 2010 12:00am
SBP to buy back government paper in reverse repo

SBP to buy back government paper in reverse repo

The State Bank of Pakistan said it would buy back government paper from commercial banks on Tuesday in six-day reverse repo contracts to inject funds into the money market. The State Bank did not say how much money it would inject in the Open Market Opera
Published 22 Dec, 2010 12:00am
SBP to buy back government paper in reverse repo

SBP to buy back government paper in reverse repo

The State Bank of Pakistan said it would buy back government paper from commercial banks on Tuesday in six-day reverse repo contracts to inject funds into the money market. The State Bank did not say how much money it would inject in the Open Market Opera
Published 22 Dec, 2010 12:00am
Iran quake kills seven, wrecks villages

Iran quake kills seven, wrecks villages

A 6.5-magnitude earthquake struck south-eastern Iran, wrecking villages, bringing down power lines, and killing up to seven people and injuring hundreds more, Iranian media reported on Tuesday. The late Monday quake, with its epicentre near the town of Ho
Published 22 Dec, 2010 12:00am
Iran quake kills seven, wrecks villages

Iran quake kills seven, wrecks villages

A 6.5-magnitude earthquake struck south-eastern Iran, wrecking villages, bringing down power lines, and killing up to seven people and injuring hundreds more, Iranian media reported on Tuesday. The late Monday quake, with its epicentre near the town of Ho
Published 22 Dec, 2010 12:00am
Mumbai on alert over militant attack threat: report

Mumbai on alert over militant attack threat: report

Security was stepped up in India's financial capital Mumbai on Tuesday, after intelligence warnings of a possible militant attack targeting foreigners, the Press Trust of India (PTI) said. Russian President Dmitry Medvedev was scheduled to fly to Mumbai o
Published 22 Dec, 2010 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (December 21, 2010).

Published 22 Dec, 2010 12:00am
Mumbai on alert over militant attack threat: report

Mumbai on alert over militant attack threat: report

Security was stepped up in India's financial capital Mumbai on Tuesday, after intelligence warnings of a possible militant attack targeting foreigners, the Press Trust of India (PTI) said. Russian President Dmitry Medvedev was scheduled to fly to Mumbai o
Published 22 Dec, 2010 12:00am
SBP approves Atlas Bank - SBL merger

SBP approves Atlas Bank - SBL merger

The State Bank of Pakistan (SBP) has accorded sanction to the scheme of amalgamation of Atlas Bank Ltd (ABL) with and into Summit Bank Ltd (SBL), formerly Arif Habib Bank Ltd under Banking Company Ordinance 1962. SBP, in its sanction letter of December 15
Published 22 Dec, 2010 12:00am
SBP approves Atlas Bank - SBL merger

SBP approves Atlas Bank - SBL merger

The State Bank of Pakistan (SBP) has accorded sanction to the scheme of amalgamation of Atlas Bank Ltd (ABL) with and into Summit Bank Ltd (SBL), formerly Arif Habib Bank Ltd under Banking Company Ordinance 1962. SBP, in its sanction letter of December 15
Published 22 Dec, 2010 12:00am
SBP approves Atlas Bank - SBL merger

SBP approves Atlas Bank - SBL merger

The State Bank of Pakistan (SBP) has accorded sanction to the scheme of amalgamation of Atlas Bank Ltd (ABL) with and into Summit Bank Ltd (SBL), formerly Arif Habib Bank Ltd under Banking Company Ordinance 1962. SBP, in its sanction letter of December 15
Published 22 Dec, 2010 12:00am
US Fed extends dollar lifeline for central banks

US Fed extends dollar lifeline for central banks

The US Federal Reserve on Tuesday extended until August an emergency tool for other central banks to access dollars, amid market jitters and high demand for the safe haven greenback. The deal, which had been due to expire in January, allows the central ba
Published 22 Dec, 2010 12:00am
THE RUPEE: dollar slips

THE RUPEE: dollar slips

The rupee was firm against dollar and euro on the currency market on Tuesday, dealers said. The rupee inched up with a gain of two paisa against the US currency for buying at 85.72 and three paisa for selling at 85.75, they said.
Published 22 Dec, 2010 12:00am
US Fed extends dollar lifeline for central banks

US Fed extends dollar lifeline for central banks

The US Federal Reserve on Tuesday extended until August an emergency tool for other central banks to access dollars, amid market jitters and high demand for the safe haven greenback. The deal, which had been due to expire in January, allows the central ba
Published 22 Dec, 2010 12:00am
THE RUPEE: dollar slips

THE RUPEE: dollar slips

The rupee was firm against dollar and euro on the currency market on Tuesday, dealers said. The rupee inched up with a gain of two paisa against the US currency for buying at 85.72 and three paisa for selling at 85.75, they said.
Published 22 Dec, 2010 12:00am
US Fed extends dollar lifeline for central banks

US Fed extends dollar lifeline for central banks

The US Federal Reserve on Tuesday extended until August an emergency tool for other central banks to access dollars, amid market jitters and high demand for the safe haven greenback. The deal, which had been due to expire in January, allows the central ba
Published 22 Dec, 2010 12:00am
US hits Revolutionary Guard with new Iran sanctions

US hits Revolutionary Guard with new Iran sanctions

The United States hit Iran's Revolutionary Guard and shipping line with fresh sanctions Tuesday, ramping up pressure on the Islamic republic over its nuclear and weapons activities. Sanctions were placed on entities linked to the guards corp - seen as a k
Published 22 Dec, 2010 12:00am
US hits Revolutionary Guard with new Iran sanctions

US hits Revolutionary Guard with new Iran sanctions

The United States hit Iran's Revolutionary Guard and shipping line with fresh sanctions Tuesday, ramping up pressure on the Islamic republic over its nuclear and weapons activities. Sanctions were placed on entities linked to the guards corp - seen as a k
Published 22 Dec, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (December 21, 2010).

Published 22 Dec, 2010 12:00am
Finnish investors look for long-term investment

Finnish investors look for long-term investment

The Ambassador of Finland Osmo Lipponen, and the Deputy Head of Mission, Katja Kalamaki visited the Overseas Investors Chamber of Commerce and Industry (OICCI) to discuss and explore areas of business and economic activity. While addressing members of OIC
Published 22 Dec, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (December 21, 2010).

Published 22 Dec, 2010 12:00am
Two killed in different incidents

Two killed in different incidents

Two people were killed in separate incidents in the city here on Tuesday. A young man, Abdul Warism, 20, son of Shah Muhammad was killed by his cousin over a family dispute in Nazimabad. According to Shamim Shaeed police, the victim was killed over a marr
Published 22 Dec, 2010 12:00am
Pakistan says no foreign troops can operate on its soil

Pakistan says no foreign troops can operate on its soil

Pakistan has ruled out the notion of any foreign troops operating on its soil, with its top diplomat in Washington stressing that Pakistani forces are capable of handling militant threat within the country's borders. "Pakistani forces are capable of handl
Published 22 Dec, 2010 12:00am
Loti Gas Field employee shot dead in Dera Bugti

Loti Gas Field employee shot dead in Dera Bugti

Unknown armed men gunned down an employee of the Loti Gas Field due to unknown causes in Dera Bugti on Tuesday. According to the local administration, the armed assailants opened fire at Nabi Dad in the area of Loti Gas Field area and fled from the scene.
Published 22 Dec, 2010 12:00am
Pakistan Bar Council: LHC dismisses petition challenging electoral roll

Pakistan Bar Council: LHC dismisses petition challenging electoral roll

Chief Justice Lahore High Court Justice Ijaz Ahmad Chaudhry on Tuesday dismissed a petition challenging "electoral roll" of Pakistan Bar Council and praying to postpone the election being held on Wednesday (today). Petitioner Chaudhry Sultan Ahmad Arshad
Published 22 Dec, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (December 21, 2010).

Published 22 Dec, 2010 12:00am
Masses' problems: MQM, PML-F to map out joint strategy

Masses' problems: MQM, PML-F to map out joint strategy

A joint strategy would be mapped out with the help of political parties in a few weeks to curb problems facing the masses of the country. This was decided in a meeting of MQM team with Pakistan Muslim League Functional (PML-F) Chief, Pir Sahib Pagaro at K
Published 22 Dec, 2010 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Tuesday (December 21, 2010)and for Wednesday (December 22, 2010).
Published 22 Dec, 2010 12:00am
'300 mechanical tandoors to be installed in destitute areas'

'300 mechanical tandoors to be installed in destitute areas'

300 mechanical tandoors would be installed in 'kachi abadies', industrial areas, labour colonies of railway stations, bus stands and hospitals by March 2011 to provide sasti roti to the poor in the province, said Chief Minister Punjab, Mohammad Shahbaz Sh
Published 22 Dec, 2010 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (December 21, 2010).

Published 22 Dec, 2010 12:00am
Park, Ride Plaza's inauguration on December 27

Park, Ride Plaza's inauguration on December 27

Lahore Develop-ment Authority (LDA)'s newly built Park and Ride Plaza at Main Boulevard, Gulberg, will open on Monday (December 27). According to a LDA's spokesperson here on Tuesday, Punjab Chief Minister Muhammad Shahbaz Sharif will inaugurate the 11-fl
Published 22 Dec, 2010 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 22 Dec, 2010 12:00am
'Available resources being used for uplift of Punjab'

'Available resources being used for uplift of Punjab'

Members National and Provincial Assembly from various districts met Punjab Chief Minister Muhammad Shahbaz Sharif here on Tuesday and apprised him of the pace of ongoing development projects and problems of their respective areas. Talking to assembly memb
Published 22 Dec, 2010 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 22 Dec, 2010 12:00am
Task force on market access for textile industry announced

Task force on market access for textile industry announced

Federal Minister for Commerce, Makhdoom Amin Fahim on Tuesday announced formulation of 'task force on market access for textile industry'. I have announced (formulation of a) task force and its mechanism would be announced later on, he said while addressi
Published 22 Dec, 2010 12:00am
Pakistan Bar Council elections today

Pakistan Bar Council elections today

Elections of Pakistan Bar Council will held on today and seventy-five voters will decide the fate of 30 candidates for 11 seats from Punjab. Every candidate is trying hard to take sympathies of the voters and most of the voters already had given commitmen
Published 22 Dec, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (December 21, 2010).

Published 22 Dec, 2010 12:00am
'Benazir Bhutto peace cycle rally' to reach capital on December 28

'Benazir Bhutto peace cycle rally' to reach capital on December 28

Benazir Bhutto Peace and National Solidarity cycle rally left for Islamabad from Baba Bulhe Shah's Mazar and reached Lahore in the first phase. The rally would reach Islamabad on December 28, 2010. Provincial Minister for Culture, Youth Affairs and Sports
Published 22 Dec, 2010 12:00am
The Weather

The Weather

The weather report on Tuesday (December 21, 2010)and the forecast for Wednesday (December 22, 2010).

Published 22 Dec, 2010 12:00am
Chief Minister Punjab Speech Contest: GCU wins overall 17 positions

Chief Minister Punjab Speech Contest: GCU wins overall 17 positions

Debating Society of the GC University Lahore has set an unprecedented record for wining overall 17 positions at the Chief Minister Punjab Speech Contest 2010. In the final rounds, which were held on Tuesday at the Government Science College, Wahdat Road L
Published 22 Dec, 2010 12:00am
Iran cuts subsidy on POL: import volume may soar by around $6.3 billion

Iran cuts subsidy on POL: import volume may soar by around $6.3 billion

As a result of subsidy cuts especially on petroleum products (POL) by Iran, the Pakistan's import volume of POL is expected to soar by around 6.3 billion dollars in coming months, analysts said. They further said although the removal of subsidy in POL pro
Published 22 Dec, 2010 12:00am
Justice Iqbal appointed CJ IHC

Justice Iqbal appointed CJ IHC

President Asif Ali Zardari appointed Justice Iqbal Hameed-ur-Rehman, Judge Lahore High Court (LHC), as Chief Justice of Islamabad High Court (IHC) on and from the date he takes oath of his office, said a notification issued here on Wednesday.
Published 22 Dec, 2010 12:00am
PTI observes hunger strike in front of Punjab Assembly

PTI observes hunger strike in front of Punjab Assembly

Pakistan Tehreek-e-Insaf (PTI) Punjab on Tuesday staged a token hunger strike in front of the Punjab Assembly to protest anti-people policies of the rulers. A large number of people participated in the token hunger strike along with Pakistan Tehreek-e-Ins
Published 22 Dec, 2010 12:00am
Educational reforms to be introduced across AJK

Educational reforms to be introduced across AJK

The AJK government was going to ink an integrated and broad-based phased plan for the promotion of quality education harmonious to the need of the modern age in the liberated territory, official sources said. Talking to newsmen here on Tuesday, the source
Published 22 Dec, 2010 12:00am
Transfer to P&D Division not a sudden move: Sohail

Transfer to P&D Division not a sudden move: Sohail

The Chairman of the Federal Board of Revenue (FBR), Sohail Ahmed, categorically stated on Tuesday that his transfer to the Planning and Development Division as Secretary "is not a sudden move" by the government and not surprising for him at all. Talking t
Published 22 Dec, 2010 12:00am
First half target: FBR needs to collect Rs 102 billion by December 31

First half target: FBR needs to collect Rs 102 billion by December 31

The Federal Board of Revenue has to collect around Rs 102 billion by December 31, 2010 to meet the first half (July-December) target of Rs 652 billion for current fiscal year. Sources told Business Recorder here on Tuesday that the revenue collecti
Published 22 Dec, 2010 12:00am
Kashmala for simplifying procedure to create new provinces

Kashmala for simplifying procedure to create new provinces

Lauding the parliament for the unanimous report on 19th Constitutional Amendment, Kashmala Tariq of PML-Q on Tuesday urged for moving a step forward from what the court had asked, adding that there is a need to simplify the procedure for creation of new p
Published 22 Dec, 2010 12:00am
Shaheed Benazir Bhutto was a great leader: minister

Shaheed Benazir Bhutto was a great leader: minister

Punjab Finance Minister Tanvir Ashraf Kaira has said that the third death anniversary of Shaheed Mohtarma Benazir Bhutto will be observed throughout Pakistan and special prayers will be offered on this occasion. He was talking to a delegation of parliamen
Published 22 Dec, 2010 12:00am
Saraiki people being made salves by Lahore via Larkana: SQM

Saraiki people being made salves by Lahore via Larkana: SQM

The people of Saraiki belt feel that they are being made slaves by Lahore via Larkana and the process was initiated during the tenure of Zulfiqar Ali Bhutto. These views were expressed by President, Saraikistan Qaumi Movement (SQM), Hameed Asghar Shaheen
Published 22 Dec, 2010 12:00am
UBL Funds Managers announces adoption of GIPS

UBL Funds Managers announces adoption of GIPS

UBL Fund Managers, Pakistan's leading Asset Management Company and a wholly owned subsidiary of United Bank Limited (UBL), has announced adoption of the Global Investment Performance Standards (GIPS) for its funds' performance reporting. Pakistan is among
Published 22 Dec, 2010 12:00am
UBL Funds Managers announces adoption of GIPS

UBL Funds Managers announces adoption of GIPS

UBL Fund Managers, Pakistan's leading Asset Management Company and a wholly owned subsidiary of United Bank Limited (UBL), has announced adoption of the Global Investment Performance Standards (GIPS) for its funds' performance reporting. Pakistan is among
Published 22 Dec, 2010 12:00am
Etihad Airways delays all flights to London

Etihad Airways delays all flights to London

Etihad Airways has delayed all flights to London until further notice, due to the closure of Heathrow airport as a result of severe weather conditions. The airline is in close contact with the UK authorities, and once the airport reopens, Etihad will do e
Published 22 Dec, 2010 12:00am
Income tax exemption: FBR rejects PCB plea

Income tax exemption: FBR rejects PCB plea

The Federal Board of Revenue (FBR) has outrightly rejected a proposal of the Pakistan Cricket Board (PCB) seeking income tax exemption, as the government wants to curtail tax concessions and exemptions for raising tax-to-GDP ratio.
Published 22 Dec, 2010 12:00am
Swati terms BISP 'bogus', accuses it of nurturing corruption

Swati terms BISP 'bogus', accuses it of nurturing corruption

Azam Khan Swati Former Minister for Science and Technology belonging to Jamiat Ulema-e-Islam-Fazal (JUI-F) on Tuesday described Benazir Income Support Programme (BISP) as "bogus" and alleged that it is nurturing corruption in the country.
Published 22 Dec, 2010 12:00am
Shabbir Tiles & Ceramics Limited launch a new emporium

Shabbir Tiles & Ceramics Limited launch a new emporium

STILE, the brand name of Shabbir Tiles & Ceramics Limited is renowned for manufacturing Italian quality tiles in Pakistan. It is a successfully running company operating emporiums in all the major cities like Karachi, Lahore, Islamabad, Multan, Faisalabad
Published 22 Dec, 2010 12:00am
Vegetable prices shoot up

Vegetable prices shoot up

A record increase has been witnessed in the prices of frequently used vegetable items, including garlic, tomato, onion, potato green chillies, ginger etc, in twin cities of Islamabad and Rawalpindi. An agricultural expert Enyatullah Baig told APP that the
Published 22 Dec, 2010 12:00am
'Dominant forces' not allowed democracy to flourish: Bengali

'Dominant forces' not allowed democracy to flourish: Bengali

The dominant forces in Pakistan have not allowed democracy to function and flourish in the country as on papers Pakistan is a democratic country, but every election was rigged by these forces, said Dr Kaiser Bengali, Advisor to Sindh Chief Minister for Pl
Published 22 Dec, 2010 12:00am
North Karachi BOCs merged to create VIBC: KESC

North Karachi BOCs merged to create VIBC: KESC

Karachi Electric Supply Company (KESC) on Tuesday merged three Business Operations Centres (BOCs) of North Karachi into one Virtual Integrated Business Centre (VIBC). The KESC officials told Business Recorder that the billing rotation of most of th
Published 22 Dec, 2010 12:00am
Ufone launches BlackBerry Torch 9800

Ufone launches BlackBerry Torch 9800

Ufone becomes first in Pakistan to introduce the much anticipated and latest BlackBerry Torch 9800 smartphone for its valuable customers. This is Ufone's 8th consecutive feat to be the first to launch the latest BlackBerry handsets in the country. The Tor
Published 22 Dec, 2010 12:00am
Sohail's removal draws mixed reaction

Sohail's removal draws mixed reaction

Tax officials, bar members and the business community on Tuesday coherently articulated mixed reaction over the removal of Sohail Ahmad as Chairman of the Federal Board of Revenue (FBR). According to a survey conducted by Business Recorder, the tax offici
Published 22 Dec, 2010 12:00am
Cost of doing business is one of the highest in region : KCCI

Cost of doing business is one of the highest in region : KCCI

The cost of doing business is increasing day by day, unsustainable energy prices, rising fuel cost, intermittent customs and taxation laws have left businessmen in fury, anguish and bad shape. An export order that initially seems a good one becomes a burd
Published 22 Dec, 2010 12:00am
FIA arrests eight Lesco employees

FIA arrests eight Lesco employees

After receiving directives from Federal Minister for Interior Rehman Malik, Federal Investigation Agency (FIA) has arrested eight employees of Lahore Electricity Supply Company (Lesco). Taking notice of the alleged corruption of millions of rupees in Lesc
Published 22 Dec, 2010 12:00am
Cop killed in an encounter with drug peddlers

Cop killed in an encounter with drug peddlers

One police personnel killed, while another injured during an encounter with drug peddlers in Dhok Charagdin area in the jurisdiction of Civil Line Police of Rawalpindi on Tuesday. Rawalpindi Police led by Sub-Inspector Arif raided a den of notorious drug
Published 22 Dec, 2010 12:00am
Minister briefed about working of MoST

Minister briefed about working of MoST

Federal Minister for Science and Technology, Pir Aftab Hussain Shah Jilani chaired the first meeting in the Ministry here on Tuesday. He was briefed about the working of the Ministry by Irfan Nadeem Secretary for Science and Technology. The Secretary gave
Published 22 Dec, 2010 12:00am
President condoles death of Munnawar Anjum's mother

President condoles death of Munnawar Anjum's mother

Co chairman Pakistan People's Party, President Asif Ali Zardari has condoled with Munnawar Anjum, media co-ordinator of the party in Lahore and member of PPP Federal Council over the death of his mother. In a condolence message, the president said he is d
Published 22 Dec, 2010 12:00am
Safron blamed for selling Afghan Refugees' aid goods: PAC informed

Safron blamed for selling Afghan Refugees' aid goods: PAC informed

Director General Federal Audit Gulzar Hussnain has informed the Public Accounts Committee (PAC) that Ministry of States and Frontier Regions (SAFRON) was involved in selling of goods meant for supplying to the Afghan Refugees during 1988-2000.
Published 22 Dec, 2010 12:00am
Islamabad Police committed to initiating welfare projects: IGP

Islamabad Police committed to initiating welfare projects: IGP

Besides providing a sense of security to the citizens, the Islamabad Police is also committed to initiate various welfare projects. This was stated by Kaleem Imam, Inspector-General of Police (IGP), Islamabad, here on Tuesday during a Mega Free Eye Camp h
Published 22 Dec, 2010 12:00am
Ambassador of North Korea meets Manzoor Wattoo

Ambassador of North Korea meets Manzoor Wattoo

Ambassador of Democratic Republic of Korea, Riyong Hwan called on Federal Minister of Kashmir Affairs & Gilgit-Baltistan, Mian Manzoor Ahmad Wattoo here on Tuesday. The ambassador presented a memorable photo of Shaheed Benazir Bhutto and her visit to Nort
Published 22 Dec, 2010 12:00am
FBR chairman urged to convene trade bodies' meeting

FBR chairman urged to convene trade bodies' meeting

Lahore Chamber of Commerce and Industry on Tuesday, while welcoming the appointment of Salman Siddique as Chairman Federal Board of Revenue, has urged him to convene a meeting of all the chambers and trade bodies, as there exists a lot of confusion in the
Published 22 Dec, 2010 12:00am
No pressure on government from coalition partners: Fahim

No pressure on government from coalition partners: Fahim

Federal Commerce Minister, Makhdoom Amin Fahim said on Tuesday that there is no pressure on the government from its coalition partners, saying all issues would be sorted out amicably. He was talking to the media during his visit to All Pakistan Textile Mi
Published 22 Dec, 2010 12:00am
Taseer strongly favours RGST

Taseer strongly favours RGST

Governor Punjab, Salmaan Taseer has said we will have to pay Reformed General Sales Tax (RGST) because without increasing the tax to GDP ratio it is impossible for Pakistan to attain self sufficiency. He said that some political parties have made 'politic
Published 22 Dec, 2010 12:00am
RGST a must for survival of Pakistan: Fauzia

RGST a must for survival of Pakistan: Fauzia

Central Information Secretary Pakistan People's Party Fauzia Wahab has said that imposition of Reformed General Sales Tax (RGST) is necessary for the survival of Pakistan. She said that RGST is not the issue of PPP, nor it is the issue of PPP government b
Published 22 Dec, 2010 12:00am
Poor management of economy a real threat to government: Tareen

Poor management of economy a real threat to government: Tareen

Former Federal Minister for Industries, Production and Special Initiatives Jahangir Khan Tareen said Tuesday that wrong management of economy can be a real threat to the present government. Talking to a select group of journalists.
Published 22 Dec, 2010 12:00am
Sundar Estate development reviewed

Sundar Estate development reviewed

The co-ordination committee for Sundar Estate, in its meeting held under the Chairmanship of Provincial Secretary Industries, Dr Shujaat Ali, discussed various matters regarding development of the estate, in detail. The provincial Secretary Industries emp
Published 22 Dec, 2010 12:00am
SNGPL plan hurts textile industry

SNGPL plan hurts textile industry

Sui Northern Gas Pipelines Ltd (SNGPL) is testing the water of textile industry by flouting the decisions of the Federal Cabinet as well as the Prime Minister to ensure five days a week gas supply to industry.
Published 22 Dec, 2010 12:00am
People face problems due to closure of CNG stations

People face problems due to closure of CNG stations

The CNG supply remains suspended in Multan on the second day on Tuesday. The consumers are facing a lot of problems due to the two-day closure of CNG in most areas of South Punjab including Multan. The CNG pumping stations remain closed on Tuesday on the
Published 22 Dec, 2010 12:00am
British business delegation visits PBIT office

British business delegation visits PBIT office

A 10-member business delegation headed by President of Legislative Council of New South Wales (NSW) Amanda Fazio visited the Punjab Board of Investment and Trade (PBIT) office to explore areas of mutual interest for enhancing trade and investment. Chief E
Published 22 Dec, 2010 12:00am
APCNGA threatens to observe strike

APCNGA threatens to observe strike

All Pakistan CNG Association has threatened a two-day strike on December 27 and December 28 if their demands of uninterrupted gas supply, restoring lease of 650 petrol pumps of Punjab and increase in the commission of petrol were not accepted by both prov
Published 22 Dec, 2010 12:00am
If voted to power: Nawaz vows to make Gwadar top global port

If voted to power: Nawaz vows to make Gwadar top global port

Pakistan Muslim League-Nawaz (PML-N) Chief Nawaz Sharif has said that if PML-N was voted to power it would make Gwadar number one port of the world to usher in a new era of progress and prosperity in Balochistan. He said this while talking to a party dele
Published 22 Dec, 2010 12:00am
Proper utilisation of human resource emphasised

Proper utilisation of human resource emphasised

The Small and Medium Enterprises Development Authority (SMEDA), in collaboration with the Institute of Space Technology (IST) has held two-day digital innovation, international conference and exhibition - DICE 2010. The students, academicians and industri
Published 22 Dec, 2010 12:00am
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