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Archive - 2010-12-23
Prioritising gas usage
BR Research

Prioritising gas usage

The early arrival of winter has created countrywide gas shortage issues once again; business managers are in the conference rooms, the affec
Published 23 Dec, 2010 12:00am
Summit Bank: a step closer
BR Research

Summit Bank: a step closer

Consolidation is a near universal sentiment when it comes to small players in the banking industry. With profits concentrated in the big tic
Published 23 Dec, 2010 12:00am
Meeting today to find solution to RGST standoff

Meeting today to find solution to RGST standoff

After submitting request to the IMF for an extension, Prime Minister Syed Yousuf Raza Gilani has convened a crucial meeting here on December 23 (today) to find some solution to controversy over Reformed General Sales Tax (RGST).
Published 23 Dec, 2010 12:00am
Index gains 23.56 points

Index gains 23.56 points

Late buying, mainly by foreign investors, in some select stocks on Wednesday supported the KSE-100 index which closed in positive at 11,848.62 points with a net gain of 23.56 points. The index remained moving both ways, between 11,877.38 points intra-day
Published 23 Dec, 2010 12:00am
Index gains 23.56 points

Index gains 23.56 points

Late buying, mainly by foreign investors, in some select stocks on Wednesday supported the KSE-100 index which closed in positive at 11,848.62 points with a net gain of 23.56 points. The index remained moving both ways, between 11,877.38 points intra-day
Published 23 Dec, 2010 12:00am
Index gains 23.56 points

Index gains 23.56 points

Late buying, mainly by foreign investors, in some select stocks on Wednesday supported the KSE-100 index which closed in positive at 11,848.62 points with a net gain of 23.56 points. The index remained moving both ways, between 11,877.38 points intra-day
Published 23 Dec, 2010 12:00am
BRIndex30 loses 3.15 points

BRIndex30 loses 3.15 points

On Wednesday, the BRIndex30 opened at 8,807.30 points and remained in negative for almost whole of the trading time, with the exception of a few minutes. It touched the intra-day high of 8,817.42 points and low of 8,769.95 points, and closed at 8,804.15 p
Published 23 Dec, 2010 12:00am
BRIndex30 loses 3.15 points

BRIndex30 loses 3.15 points

On Wednesday, the BRIndex30 opened at 8,807.30 points and remained in negative for almost whole of the trading time, with the exception of a few minutes. It touched the intra-day high of 8,817.42 points and low of 8,769.95 points, and closed at 8,804.15 p
Published 23 Dec, 2010 12:00am
National Assembly passes 19th Amendment Bill

National Assembly passes 19th Amendment Bill

The National Assembly on Wednesday passed "The Constitution (Nineteenth Amendment) Bill, 2010 with 258 votes in favour and one against it. In the Bill, seven amendments have been made in Articles 81, 175A, 182, 213 and 246 of the Constitution of Pakistan.
Published 23 Dec, 2010 12:00am
National Assembly passes 19th Amendment Bill

National Assembly passes 19th Amendment Bill

The National Assembly on Wednesday passed "The Constitution (Nineteenth Amendment) Bill, 2010 with 258 votes in favour and one against it. In the Bill, seven amendments have been made in Articles 81, 175A, 182, 213 and 246 of the Constitution of Pakistan.
Published 23 Dec, 2010 12:00am
National Assembly passes 19th Amendment Bill

National Assembly passes 19th Amendment Bill

The National Assembly on Wednesday passed "The Constitution (Nineteenth Amendment) Bill, 2010 with 258 votes in favour and one against it. In the Bill, seven amendments have been made in Articles 81, 175A, 182, 213 and 246 of the Constitution of Pakistan.
Published 23 Dec, 2010 12:00am
We respect judiciary: Prime Minister

We respect judiciary: Prime Minister

The work done by the Parliament through 19th Constitutional Amendment has strengthened the institutions and has paved way for their smooth sailing to avert any future clash, said Prime Minister Syed Yousuf Raza Gilani, here on Wednesday. He was addressing
Published 23 Dec, 2010 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
We respect judiciary: Prime Minister

We respect judiciary: Prime Minister

The work done by the Parliament through 19th Constitutional Amendment has strengthened the institutions and has paved way for their smooth sailing to avert any future clash, said Prime Minister Syed Yousuf Raza Gilani, here on Wednesday. He was addressing
Published 23 Dec, 2010 12:00am
Bill approved by Cabinet

Bill approved by Cabinet

The Cabinet on Wednesday unanimously approved the Draft 19th Constitutional Amendment Bill for presentation in the Parliament. Prime Minister Syed Yousuf Raza Gilani who chaired the meeting and termed the consensus evolved on the draft bill as yet another
Published 23 Dec, 2010 12:00am
Bill approved by Cabinet

Bill approved by Cabinet

The Cabinet on Wednesday unanimously approved the Draft 19th Constitutional Amendment Bill for presentation in the Parliament. Prime Minister Syed Yousuf Raza Gilani who chaired the meeting and termed the consensus evolved on the draft bill as yet another
Published 23 Dec, 2010 12:00am
Bill approved by Cabinet

Bill approved by Cabinet

The Cabinet on Wednesday unanimously approved the Draft 19th Constitutional Amendment Bill for presentation in the Parliament. Prime Minister Syed Yousuf Raza Gilani who chaired the meeting and termed the consensus evolved on the draft bill as yet another
Published 23 Dec, 2010 12:00am
NJLI Managed Growth Fund Rates

NJLI Managed Growth Fund Rates

New Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
US suits against ISI have no locus standi

US suits against ISI have no locus standi

The plaintiffs in two US lawsuits accusing Pakistan's ISI of nurturing terrorists involved in the 2008 Mumbai attacks are hoping for a historic outcome recalling the Lockerbie settlement, but they would have to overcome serious legal obstacles first, lawy
Published 23 Dec, 2010 12:00am
NJLI Managed Growth Fund Rates

NJLI Managed Growth Fund Rates

New Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
US suits against ISI have no locus standi

US suits against ISI have no locus standi

The plaintiffs in two US lawsuits accusing Pakistan's ISI of nurturing terrorists involved in the 2008 Mumbai attacks are hoping for a historic outcome recalling the Lockerbie settlement, but they would have to overcome serious legal obstacles first, lawy
Published 23 Dec, 2010 12:00am
NJLI Managed Growth Fund Rates

NJLI Managed Growth Fund Rates

New Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
Income tax on foreign investors: no advance ruling issued in 2010

Income tax on foreign investors: no advance ruling issued in 2010

The Federal Board of Revenue (FBR) has not issued any advance ruling to foreign investors and non-resident companies during 2010 under the Income Tax Ordinance 2001. The FBR has already devised a procedure for foreign investors/non-resident companies to o
Published 23 Dec, 2010 12:00am
NJLI Sarmaya Growth Fund Rates

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
Income tax on foreign investors: no advance ruling issued in 2010

Income tax on foreign investors: no advance ruling issued in 2010

The Federal Board of Revenue (FBR) has not issued any advance ruling to foreign investors and non-resident companies during 2010 under the Income Tax Ordinance 2001. The FBR has already devised a procedure for foreign investors/non-resident companies to o
Published 23 Dec, 2010 12:00am
NJLI Sarmaya Growth Fund Rates

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
Income tax on foreign investors: no advance ruling issued in 2010

Income tax on foreign investors: no advance ruling issued in 2010

The Federal Board of Revenue (FBR) has not issued any advance ruling to foreign investors and non-resident companies during 2010 under the Income Tax Ordinance 2001. The FBR has already devised a procedure for foreign investors/non-resident companies to o
Published 23 Dec, 2010 12:00am
NJLI Sarmaya Growth Fund Rates

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
Machine import: telecom companies barred from claiming WHT relief

Machine import: telecom companies barred from claiming WHT relief

The Federal Board of Revenue (FBR) has barred the Commissioners of Inland Revenue from issuance withholding tax exemption certificates to the telecommunication companies on import of plant, machinery and equipment. The FBR on Wednesday categorically decla
Published 23 Dec, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
Machine import: telecom companies barred from claiming WHT relief

Machine import: telecom companies barred from claiming WHT relief

The Federal Board of Revenue (FBR) has barred the Commissioners of Inland Revenue from issuance withholding tax exemption certificates to the telecommunication companies on import of plant, machinery and equipment. The FBR on Wednesday categorically decla
Published 23 Dec, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
Machine import: telecom companies barred from claiming WHT relief

Machine import: telecom companies barred from claiming WHT relief

The Federal Board of Revenue (FBR) has barred the Commissioners of Inland Revenue from issuance withholding tax exemption certificates to the telecommunication companies on import of plant, machinery and equipment. The FBR on Wednesday categorically decla
Published 23 Dec, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
LSE index gains 11.63 points

LSE index gains 11.63 points

Equities on Wednesday remained depressed for the second consecutive day on the Lahore Stock Exchange (LSE) because of profit taking amid descending transaction volume. The LSE-25 index was increased by 11.63 points and was closed at 3672.83 against 3661.2
Published 23 Dec, 2010 12:00am
LSE index gains 11.63 points

LSE index gains 11.63 points

Equities on Wednesday remained depressed for the second consecutive day on the Lahore Stock Exchange (LSE) because of profit taking amid descending transaction volume. The LSE-25 index was increased by 11.63 points and was closed at 3672.83 against 3661.2
Published 23 Dec, 2010 12:00am
Equities move both ways on ISE

Equities move both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 10.14 points, as the Index moved from 2,974.70 to 2,984.
Published 23 Dec, 2010 12:00am
Equities move both ways on ISE

Equities move both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 10.14 points, as the Index moved from 2,974.70 to 2,984.
Published 23 Dec, 2010 12:00am
Grandson of Bugti held, arms recovered

Grandson of Bugti held, arms recovered

Law enforcing agency on Wednesday arrested President Jamhori Watan Party Nawabzada Mir Shahzain Bugti along with dozens other associates and recovered a huge quantity of arms from their possession. Talking to media-person, DIG Operations Hamid Shakil said
Published 23 Dec, 2010 12:00am
Grandson of Bugti held, arms recovered

Grandson of Bugti held, arms recovered

Law enforcing agency on Wednesday arrested President Jamhori Watan Party Nawabzada Mir Shahzain Bugti along with dozens other associates and recovered a huge quantity of arms from their possession. Talking to media-person, DIG Operations Hamid Shakil said
Published 23 Dec, 2010 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 23 Dec, 2010 12:00am
US-China firm fined for Pakistan nuclear exports

US-China firm fined for Pakistan nuclear exports

The United States on Tuesday fined the Chinese subsidiary of a US firm nearly four million dollars for exporting coatings to a Pakistan nuclear site. PPG Paints Trading in Shanghai, a wholly-owned subsidiary of PPG Industries, agreed to pay 3.75 million d
Published 23 Dec, 2010 12:00am
US-China firm fined for Pakistan nuclear exports

US-China firm fined for Pakistan nuclear exports

The United States on Tuesday fined the Chinese subsidiary of a US firm nearly four million dollars for exporting coatings to a Pakistan nuclear site. PPG Paints Trading in Shanghai, a wholly-owned subsidiary of PPG Industries, agreed to pay 3.75 million d
Published 23 Dec, 2010 12:00am
Import of petroleum products: PSO struggling to arrange financing

Import of petroleum products: PSO struggling to arrange financing

The worst ever oil and power crisis is looming on the horizon as cash-strapped Pakistan State Oil (PSO) with Rs 156 billion receivables is struggling to arrange financing for import of petroleum products and may be compelled to default of Letters of Credi
Published 23 Dec, 2010 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 23 Dec, 2010 12:00am
Import of petroleum products: PSO struggling to arrange financing

Import of petroleum products: PSO struggling to arrange financing

The worst ever oil and power crisis is looming on the horizon as cash-strapped Pakistan State Oil (PSO) with Rs 156 billion receivables is struggling to arrange financing for import of petroleum products and may be compelled to default of Letters of Credi
Published 23 Dec, 2010 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 23 Dec, 2010 12:00am
Import of petroleum products: PSO struggling to arrange financing

Import of petroleum products: PSO struggling to arrange financing

The worst ever oil and power crisis is looming on the horizon as cash-strapped Pakistan State Oil (PSO) with Rs 156 billion receivables is struggling to arrange financing for import of petroleum products and may be compelled to default of Letters of Credi
Published 23 Dec, 2010 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

Published 23 Dec, 2010 12:00am
PIBs auction: SBP accepts bids worth Rs 20.538 billion

PIBs auction: SBP accepts bids worth Rs 20.538 billion

The State Bank of Pakistan on Wednesday accepted bids worth Rs 20.538 billion with a realised amount of Rs 18.482 billion for the sale of 3-, 5- and 10-year Pakistan Investment Bonds (PIBs).
Published 23 Dec, 2010 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 23 Dec, 2010 12:00am
PIBs auction: SBP accepts bids worth Rs 20.538 billion

PIBs auction: SBP accepts bids worth Rs 20.538 billion

The State Bank of Pakistan on Wednesday accepted bids worth Rs 20.538 billion with a realised amount of Rs 18.482 billion for the sale of 3-, 5- and 10-year Pakistan Investment Bonds (PIBs).
Published 23 Dec, 2010 12:00am
PIBs auction: SBP accepts bids worth Rs 20.538 billion

PIBs auction: SBP accepts bids worth Rs 20.538 billion

The State Bank of Pakistan on Wednesday accepted bids worth Rs 20.538 billion with a realised amount of Rs 18.482 billion for the sale of 3-, 5- and 10-year Pakistan Investment Bonds (PIBs).
Published 23 Dec, 2010 12:00am
PIBs auction: SBP accepts bids worth Rs 20.538 billion

PIBs auction: SBP accepts bids worth Rs 20.538 billion

The State Bank of Pakistan on Wednesday accepted bids worth Rs 20.538 billion with a realised amount of Rs 18.482 billion for the sale of 3-, 5- and 10-year Pakistan Investment Bonds (PIBs).
Published 23 Dec, 2010 12:00am
No RGST on life insurance premium: IAP

No RGST on life insurance premium: IAP

The Insurance Association of Pakistan (IAP) has said that the Reformed General Sales Tax (RGST) will not be applicable on life insurance premium. It is learnt here on Wednesday that the IAP has written a letter to the FBR Chairman Sohail Ahmed on the appl
Published 23 Dec, 2010 12:00am
No RGST on life insurance premium: IAP

No RGST on life insurance premium: IAP

The Insurance Association of Pakistan (IAP) has said that the Reformed General Sales Tax (RGST) will not be applicable on life insurance premium. It is learnt here on Wednesday that the IAP has written a letter to the FBR Chairman Sohail Ahmed on the appl
Published 23 Dec, 2010 12:00am
No RGST on life insurance premium: IAP

No RGST on life insurance premium: IAP

The Insurance Association of Pakistan (IAP) has said that the Reformed General Sales Tax (RGST) will not be applicable on life insurance premium. It is learnt here on Wednesday that the IAP has written a letter to the FBR Chairman Sohail Ahmed on the appl
Published 23 Dec, 2010 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
Two die as army plane crashes near Quetta

Two die as army plane crashes near Quetta

The pilot and co-pilot embraced martyrdom when the aviation air jet of Pakistan Army Aviation crashed into hilly area of Muslim Bagh near Quetta on Wednesday. According to the ISPR spokesman Lieutenant Colonel Khalid Chohan, the Army aviation Mushak, trai
Published 23 Dec, 2010 12:00am
Two die as army plane crashes near Quetta

Two die as army plane crashes near Quetta

The pilot and co-pilot embraced martyrdom when the aviation air jet of Pakistan Army Aviation crashed into hilly area of Muslim Bagh near Quetta on Wednesday. According to the ISPR spokesman Lieutenant Colonel Khalid Chohan, the Army aviation Mushak, trai
Published 23 Dec, 2010 12:00am
India tests nuclear-capable, short-range missile

India tests nuclear-capable, short-range missile

India successfully tested a short-range, nuclear-capable missile with a range of 220 miles (350 kilometers) on Wednesday, an official said. The army twice fired the surface-to-surface missile Prithvi II from Chandipur in the eastern state of Orissa, said
Published 23 Dec, 2010 12:00am
India tests nuclear-capable, short-range missile

India tests nuclear-capable, short-range missile

India successfully tested a short-range, nuclear-capable missile with a range of 220 miles (350 kilometers) on Wednesday, an official said. The army twice fired the surface-to-surface missile Prithvi II from Chandipur in the eastern state of Orissa, said
Published 23 Dec, 2010 12:00am
Stakeholders consider change in FBR a right decision

Stakeholders consider change in FBR a right decision

The change in the top hierarchy of Federal Board of Revenue (FBR) has been considered a "right decision" by stakeholders here. Traders, importers, union leaders and taxpayers expressed hope that the appointment of Salman Siddique as FBR Chairman would "br
Published 23 Dec, 2010 12:00am
Stakeholders consider change in FBR a right decision

Stakeholders consider change in FBR a right decision

The change in the top hierarchy of Federal Board of Revenue (FBR) has been considered a "right decision" by stakeholders here. Traders, importers, union leaders and taxpayers expressed hope that the appointment of Salman Siddique as FBR Chairman would "br
Published 23 Dec, 2010 12:00am
Stakeholders consider change in FBR a right decision

Stakeholders consider change in FBR a right decision

The change in the top hierarchy of Federal Board of Revenue (FBR) has been considered a "right decision" by stakeholders here. Traders, importers, union leaders and taxpayers expressed hope that the appointment of Salman Siddique as FBR Chairman would "br
Published 23 Dec, 2010 12:00am
THE RUPEE: dollar moves both ways

THE RUPEE: dollar moves both ways

Divergent trend was seen on the currency market on Wednesday in process of trading, dealers said. The rupee slipped by one paisa against the US currency for buying and selling at 85.73 and 85.76, they said.
Published 23 Dec, 2010 12:00am
Customer due diligence: SBP amends Regulation M-1

Customer due diligence: SBP amends Regulation M-1

The State Bank of Pakistan on Wednesday announced Amendment to Regulation M-1 (Customer Due Diligence). The SBP has asked banks and DFIs to refer Prudential Regulation M-1 for Corporate/Commercial Banking as amended vide BPRD Circular Letter No 07 dated M
Published 23 Dec, 2010 12:00am
THE RUPEE: dollar moves both ways

THE RUPEE: dollar moves both ways

Divergent trend was seen on the currency market on Wednesday in process of trading, dealers said. The rupee slipped by one paisa against the US currency for buying and selling at 85.73 and 85.76, they said.
Published 23 Dec, 2010 12:00am
Customer due diligence: SBP amends Regulation M-1

Customer due diligence: SBP amends Regulation M-1

The State Bank of Pakistan on Wednesday announced Amendment to Regulation M-1 (Customer Due Diligence). The SBP has asked banks and DFIs to refer Prudential Regulation M-1 for Corporate/Commercial Banking as amended vide BPRD Circular Letter No 07 dated M
Published 23 Dec, 2010 12:00am
Customer due diligence: SBP amends Regulation M-1

Customer due diligence: SBP amends Regulation M-1

The State Bank of Pakistan on Wednesday announced Amendment to Regulation M-1 (Customer Due Diligence). The SBP has asked banks and DFIs to refer Prudential Regulation M-1 for Corporate/Commercial Banking as amended vide BPRD Circular Letter No 07 dated M
Published 23 Dec, 2010 12:00am
ICC rejects Salman Butt's request for fixing hearing delay

ICC rejects Salman Butt's request for fixing hearing delay

Cricket authorities have rejected a plea by Pakistan Test captain Salman Butt to delay a hearing scheduled for next month into a spot-fixing scandal which rocked the sport, the player said Wednesday.
Published 23 Dec, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
ICC rejects Salman Butt's request for fixing hearing delay

ICC rejects Salman Butt's request for fixing hearing delay

Cricket authorities have rejected a plea by Pakistan Test captain Salman Butt to delay a hearing scheduled for next month into a spot-fixing scandal which rocked the sport, the player said Wednesday.
Published 23 Dec, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
Bank holiday

Bank holiday

The State Bank of Pakistan and all offices of SBP Banking Services Corporation including Public Debt Offices will remain closed on Saturday, 25th December being public holiday announced by the Government of Pakistan on occasion of Quaid-e-Azam day and Chr
Published 23 Dec, 2010 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (December 22, 2010)and for Thursday (December 23, 2010).
Published 23 Dec, 2010 12:00am
Bank holiday

Bank holiday

The State Bank of Pakistan and all offices of SBP Banking Services Corporation including Public Debt Offices will remain closed on Saturday, 25th December being public holiday announced by the Government of Pakistan on occasion of Quaid-e-Azam day and Chr
Published 23 Dec, 2010 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
Bank holiday

Bank holiday

The State Bank of Pakistan and all offices of SBP Banking Services Corporation including Public Debt Offices will remain closed on Saturday, 25th December being public holiday announced by the Government of Pakistan on occasion of Quaid-e-Azam day and Chr
Published 23 Dec, 2010 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 23 Dec, 2010 12:00am
Texans charged in Iran funds probe

Texans charged in Iran funds probe

A McAllen doctor and his attorney wife are free on bond after being charged with secretly sending more than $1.8 million to Iran in funds meant for a children's charity. Dr Hossein Lahiji and Najmeh Vahid are charged with violating the US trade embargo on
Published 23 Dec, 2010 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 23 Dec, 2010 12:00am
Texans charged in Iran funds probe

Texans charged in Iran funds probe

A McAllen doctor and his attorney wife are free on bond after being charged with secretly sending more than $1.8 million to Iran in funds meant for a children's charity. Dr Hossein Lahiji and Najmeh Vahid are charged with violating the US trade embargo on
Published 23 Dec, 2010 12:00am
JCSC satisfied with armed forces' operational preparedness

JCSC satisfied with armed forces' operational preparedness

The Joint Chiefs of Staff Committee on Wednesday expressed satisfaction over the operational preparedness of the Armed Forces. The JCSC, which met at the Joint Staff Headquarters with General Khalid Shameem Wynne, Chairman of Joint Chiefs of Staff Committ
Published 23 Dec, 2010 12:00am
JCSC satisfied with armed forces' operational preparedness

JCSC satisfied with armed forces' operational preparedness

The Joint Chiefs of Staff Committee on Wednesday expressed satisfaction over the operational preparedness of the Armed Forces. The JCSC, which met at the Joint Staff Headquarters with General Khalid Shameem Wynne, Chairman of Joint Chiefs of Staff Committ
Published 23 Dec, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
Embezzlement in PTDC: PAC tells ministry to initiate legal action

Embezzlement in PTDC: PAC tells ministry to initiate legal action

Special Committee of Public Account Committee (PAC) on Wednesday taking strong exception to the embezzlement in Pakistan Tourism Development Corporation (PTDC) directed the Ministry of Tourism to initiate legal action including registration of FIR to reco
Published 23 Dec, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (December 22, 2010).

Published 23 Dec, 2010 12:00am
Embezzlement in PTDC: PAC tells ministry to initiate legal action

Embezzlement in PTDC: PAC tells ministry to initiate legal action

Special Committee of Public Account Committee (PAC) on Wednesday taking strong exception to the embezzlement in Pakistan Tourism Development Corporation (PTDC) directed the Ministry of Tourism to initiate legal action including registration of FIR to reco
Published 23 Dec, 2010 12:00am
The Weather

The Weather

The weather report on Wednesday (December 22, 2010)and the forecast for Thursday (December 23, 2010).

Published 23 Dec, 2010 12:00am
Embezzlement in PTDC: PAC tells ministry to initiate legal action

Embezzlement in PTDC: PAC tells ministry to initiate legal action

Special Committee of Public Account Committee (PAC) on Wednesday taking strong exception to the embezzlement in Pakistan Tourism Development Corporation (PTDC) directed the Ministry of Tourism to initiate legal action including registration of FIR to reco
Published 23 Dec, 2010 12:00am
Shershah market incident: Rangers arrest three accused, arms seized

Shershah market incident: Rangers arrest three accused, arms seized

Rangers on Wednesday claimed to have arrested three persons, who were accused in Shershah scrap market incident, which left 14 people killed. The Pakistan Rangers, after lapsing over 60 days, have claimed to arrest three persons who were among those 17 pe
Published 23 Dec, 2010 12:00am
FBR scales down revenue target to Rs 1,604 billion

FBR scales down revenue target to Rs 1,604 billion

Faced with a shortfall of Rs 40 billion in the first five months of the current fiscal year, the Federal Board of Revenue (FBR) has on its own cut down revenue target for 2010-2011 from revised figure of Rs 1,655 billion to Rs 1,604 billion.
Published 23 Dec, 2010 12:00am
Power supply to apartments restored

Power supply to apartments restored

Karachi Electric Supply Company late Wednesday reached agreement with the residents of AlKaram Square and Apsara Apartment for payment of electricity dues. The agreement will be signed on Friday. Earlier, the residents held a protest demonstration against
Published 23 Dec, 2010 12:00am
IPC organises Intel education awards ceremony

IPC organises Intel education awards ceremony

Intel Pakistan Corporation (IPC) on Wednesday organised the Intel Education Awards ceremony in collaboration with the Intel Education Initiative, Ministry of Education, and Ministry of IT, Punjab to recognise the impressive performance of outstanding scho
Published 23 Dec, 2010 12:00am
Parting ways with government: JUI CEC endorses decision

Parting ways with government: JUI CEC endorses decision

Jamiat Ulema-e-Islam-Fazl (JUI-F) central executive committee (CEC) Wednesday endorsed its parliamentary party's decision of parting ways with the federal government and also decided to remain part of the ruling alliance in Balochistan and Gilgit-Baltista
Published 23 Dec, 2010 12:00am
Austerity drive to continue in government departments: minister

Austerity drive to continue in government departments: minister

Punjab Finance Minister Tanvir Ashraf Kaira has said that simplicity and austerity drive would continue in all government departments; the government would not allow any department to exceed its allocation made in the current budget. He expressed these vi
Published 23 Dec, 2010 12:00am
Karachi International Book Fair opens on December 24

Karachi International Book Fair opens on December 24

A five-day 6th Karachi International Book Fair 2010 is being organised from December 24 at Karachi Expo Centre. The KIBF 2010 would provide an opportunity to reach out to citizens and book lovers in Pakistan's largest city and trade hub Karachi.
Published 23 Dec, 2010 12:00am
BNYO elects office-bearers

BNYO elects office-bearers

A meeting of the Balawaristan National Youth Organisation (BNYO) activists held to elect the new office-bearers on Wednesday. According to the sources, Faiz Ullah Faraq was elected as Central President, Ali Ghulam General Secretary, Saeed Ahmed Vice Presi
Published 23 Dec, 2010 12:00am
Two killed in separate incidents

Two killed in separate incidents

At least two people were killed in separate incidents here on Wednesday. A dead body of 30 year old unidentified man was found near Gulbai Chowk, Shershah, Maripur road in the limits of Shershah police station. SHO Zafar Abro, Shershah Police Station told
Published 23 Dec, 2010 12:00am
Entire political leadership united on national issues, says Gilani

Entire political leadership united on national issues, says Gilani

Prime Minister Syed Yousuf Raza Gilani on Wednesday said one has the right to think of in-house change but as far as issues of national importance are concerned the entire political leadership is united. Talking to media persons here on Wednesday after th
Published 23 Dec, 2010 12:00am
KOICA facilitating IDPs' return

KOICA facilitating IDPs' return

Korea International Co-operation Agency (KOICA) - development assistance agency of the Republic of Korea - in collaboration with UN-Habitat is facilitating the return of IDP's through the rehabilitation of infrastructures and communities.
Published 23 Dec, 2010 12:00am
'Musarrat Hilali to be appointed first Woman Ombudsperson'

'Musarrat Hilali to be appointed first Woman Ombudsperson'

Prime Minister Syed Yousuf Raza Gilani on Wednesday announced that Ms Musarrat Hilali would be appointed as first woman Ombudsperson of the country. Ms Musarrat Hilali, who hails from Malakand is a Law Graduate from Peshawar University. She was enrolled a
Published 23 Dec, 2010 12:00am
CDA installs 12 Christmas trees in capital

CDA installs 12 Christmas trees in capital

The Capital Development Authority (CDA) has installed 12 Christmas trees at different points of the city to express solidarity with the community on their "Great Day" to be observed on December 25 (Saturday). CDA would make all out efforts for welfare of
Published 23 Dec, 2010 12:00am
Zardari, Kyrgyz President discuss regional issues

Zardari, Kyrgyz President discuss regional issues

President Asif Ali Zardari said on Wednesday that the democratic government of Pakistan had given new impetus to its relations with Kyrgyzstan and called for more work together to improve the working and implementation of the quadripartite Agreement on Tr
Published 23 Dec, 2010 12:00am
Pakistan, Iran jockey for influence after bombings

Pakistan, Iran jockey for influence after bombings

As tension grows between Pakistan and Iran after a mosque bombing in Iran, Pakistan could find itself increasingly isolated as its western neighbour looks to increase its influence in the region, analysts say. Iran has demanded Pakistan take action with I
Published 23 Dec, 2010 12:00am
Terrorism undermines ECO states' economic progress: Qureshi

Terrorism undermines ECO states' economic progress: Qureshi

Foreign Minister Makhdoom Shah Mahmood Qureshi said on Wednesday that terrorism, drug-trafficking, trans-national organised crime and natural disasters were undermining efforts for economic progress and prosperity of the people. "This calls for innovative
Published 23 Dec, 2010 12:00am
1,800 megawatts added to transmission system in two years: Ashraf

1,800 megawatts added to transmission system in two years: Ashraf

Federal Minister for Water and Power, Raja Pervez Ashraf informed the National Assembly on Wednesday that 1,800 megawatt electricity was included in the country's power transmission system during the last two years. Replying to supplementary questions rai
Published 23 Dec, 2010 12:00am
Royan, UNFPA's new representative in Pakistan

Royan, UNFPA's new representative in Pakistan

Rabbi Royan has presented his letter of credentials as the United Nations Population Fund (UNFPA) Country Representative in Pakistan to the Ministry of Foreign Affairs here on Wednesday. Earlier, Royan arrived in Islamabad on December 1 to support the ong
Published 23 Dec, 2010 12:00am
Motorway Police observe road safety week

Motorway Police observe road safety week

The National Highway and Motorways Police has observed road safety week in connection with the efforts to reduce accidents and creating awareness among masses regarding traffic rules and regulations at training institute, Shaikhpura and Lahore.
Published 23 Dec, 2010 12:00am
GCU launches six books on poet: tributes paid to N M Rashid

GCU launches six books on poet: tributes paid to N M Rashid

Government College University Lahore has published six books on noted poet N M Rashid on his centennial birth anniversary. The books were launched at the daylong national seminar at GCU highlighting the literary, critical and intellectual genius of Rashid
Published 23 Dec, 2010 12:00am
Pak-Indonesia PTA to be inked next year

Pak-Indonesia PTA to be inked next year

Pakistan-Indonesia Preferential Trade Agreement (PTA) is expected to be signed in the first quarter of 2011 and it would give the necessary impetus to bilateral trade. This was stated by Pakistan Ambassador to Asean and Indonesia, Sanaullah while deliveri
Published 23 Dec, 2010 12:00am
UHS okays affiliation of two medical colleges

UHS okays affiliation of two medical colleges

The syndicate of University of Health Sciences (UHS) has approved the affiliation of Islam Medical College, Sialkot and Rashid Latif Medical College, Lahore. The UHS syndicate, however, has declined the request of Amina Inayat Medical College, Sheikhupura
Published 23 Dec, 2010 12:00am
Unesco, PBC launching post-flood livelihood recovery through drama

Unesco, PBC launching post-flood livelihood recovery through drama

The full impact of the devastation caused to so many millions of people in Pakistan following he unprecedented flooding that occurred earlier this year remains the utmost concern of many global humanitarian and media organisations.
Published 23 Dec, 2010 12:00am
Media can play a vital role in empowering women

Media can play a vital role in empowering women

Speakers at a media training workshop on "Engendering Democratic Governance in South Asia" said the media can play a critical role in bringing women's agenda forward and empowering them especially when it comes to women in politics. The workshop aimed at
Published 23 Dec, 2010 12:00am
Passage of 19th Amendment Bill: President felicitates National Assembly

Passage of 19th Amendment Bill: President felicitates National Assembly

President Asif Ali Zardari on Wednesday felicitated the National Assembly on the unanimous passage of the Constitution's 19th Amendment Bill. President Zardari in a message appreciated the maturity of political parties and said it reflected the supremacy
Published 23 Dec, 2010 12:00am
Passage of 19th Amendment Bill: President felicitates National Assembly

Passage of 19th Amendment Bill: President felicitates National Assembly

President Asif Ali Zardari on Wednesday felicitated the National Assembly on the unanimous passage of the Constitution's 19th Amendment Bill. President Zardari in a message appreciated the maturity of political parties and said it reflected the supremacy
Published 23 Dec, 2010 12:00am
Mahr meets Nawaz

Mahr meets Nawaz

Political leader from Sindh Sardar Ali Gohar Khan Mahr called on PML-N Quaid Muhammad Nawaz Sharif at his Raiwind residence on Wednesday and discussed matters pertaining to reorganisation of the PML-N in Sindh. During the meeting, views were exchanged on
Published 23 Dec, 2010 12:00am
Clarification

Clarification

Apropos to the news item published in your esteemed newspaper on Wednesday under caption 'Powerful group wants to get hold of LPG extraction', the Ministry of Petroleum and Natural Resources has clarified that the reporting by section of the press about p
Published 23 Dec, 2010 12:00am
SCO, PTML, SCOM, Ufone ink renewed Interconnect deal

SCO, PTML, SCOM, Ufone ink renewed Interconnect deal

Special Communications Organisation (SCO) and Pak Telecom Mobile Limited (PTML) (cellular operators with brand name of SCOM and Ufone respectively) have signed renewed Interconnect Agreement here on Wednesday. The ceremony was graced by the Director Gener
Published 23 Dec, 2010 12:00am
PML-N to formally launch AJK chapter on December 26

PML-N to formally launch AJK chapter on December 26

Pakistan Muslim League-Nawaz (PML-N) is all set to formally launch the PML-N Azad Jammu & Kashmir Chapter on December 26. In this regard, PML-N Chief Nawaz Sharif, will address the founding day convention of PML-N AJK on December 26.
Published 23 Dec, 2010 12:00am
PARB approves nine research projects

PARB approves nine research projects

The Punjab Agricultural Research Board (PARB) executive committee has approved nine research projects, including eight in livestock and one in crop sector for further endorsement by the PARB Board of Governors. The executive committee recommended these pr
Published 23 Dec, 2010 12:00am
PPP Punjab to observe Benazir Bhutto's third death anniversary

PPP Punjab to observe Benazir Bhutto's third death anniversary

Pakistan Peoples Party (PPP) Punjab is all set to observe the third death anniversary of slain PPP chairperson Benazir Bhutto. The party sources said the provincial leadership has started preparations to observe the third death anniversary of slain PPP ch
Published 23 Dec, 2010 12:00am
Petition against packaged milk products dismissed

Petition against packaged milk products dismissed

Lahore High Court here on Wednesday dismissed a petition filed by Watan Party alleging adulteration in packaged milk products. The Court dismissed the petition after examining the report came to the conclusion that the allegations of contamination made by
Published 23 Dec, 2010 12:00am
Resumption of gas supply: textile industry takes a sigh of relief

Resumption of gas supply: textile industry takes a sigh of relief

Textile industry took a sigh of relief with resumption of gas supply from the Sui Northern Gas Pipelines Ltd (SNGPL), playing tactfully with industry's sentiments by delaying gas supply despite clear-cut instructions from the Prime Minister.
Published 23 Dec, 2010 12:00am
Qazi urges philanthropists to help flood victims

Qazi urges philanthropists to help flood victims

Qazi Husain Ahmed, former chief of the Jamaat-e-Islami, has appealed to the people to extend every possible help and assistance to the flood-affected millions facing the present extreme winter season. He was talking to media after receiving 8 truck loads
Published 23 Dec, 2010 12:00am
Punjab Cabinet approves eight amendment bills

Punjab Cabinet approves eight amendment bills

The Punjab Cabinet has on Wednesday approved eight amendment bills of various departments with regard to running the affairs of ministries being transferred to the provinces under 18th constitutional amendment.
Published 23 Dec, 2010 12:00am
Shahbaz inaugurates Liberty Park, Ride Plaza

Shahbaz inaugurates Liberty Park, Ride Plaza

Punjab Chief Minister Muhammad Shahbaz Sharif has said that first Liberty Park and Ride Plaza equipped with latest facilities in Pakistan is a masterpiece with regard to design and construction and it can be compared to the parking plazas of developed cou
Published 23 Dec, 2010 12:00am
Chief minister Punjab calls for 'revolution' in health sector

Chief minister Punjab calls for 'revolution' in health sector

Punjab Chief Minister Muhammad Shahbaz Sharif has said that motherland was achieved after numerous sacrifices for the purpose that there would be an equitable system and supremacy of law and justice. He said this is not that Pakistan, the dream of which h
Published 23 Dec, 2010 12:00am
Emirates, AEG hold programme for corporate travel bookers

Emirates, AEG hold programme for corporate travel bookers

Emirates Airline, in association with the American Express Group (AEG), held a second edition of its programme for corporate travel bookers. The Travel Bookers Programme was first launched in Karachi earlier this year with the objective to raise awareness
Published 23 Dec, 2010 12:00am
Sabah Pakistan first AGM held

Sabah Pakistan first AGM held

Saarc Business Association for Home based workers (Sabah Pakistan) held its first Annual General Meeting in Islamabad. The meeting was attended by a wide section of the society including Hasan Wazir (Director Saarc)-Ministry of Foreign Affairs, Mustafain
Published 23 Dec, 2010 12:00am
Welfare of women New projects to be launched

Welfare of women New projects to be launched

Provincial Minister for Population Welfare Punjab, Neelam Jabbar Chaudhry has said huge funds are being spent on social protection and economic development of women. Some new projects would also be launched for the welfare of women under Gender Reform Act
Published 23 Dec, 2010 12:00am
'Bad law and order causing CAs' brain drain'

'Bad law and order causing CAs' brain drain'

The newly passed-out Chartered Accountants (CAs), who are supposed to become one of the major contributors to the development of the country, are now more acquiescent to serve abroad than their homeland, due to prevailing law & order situation. These view
Published 23 Dec, 2010 12:00am
PIA clarification

PIA clarification

The report titled "Passengers protest, ill planning by PIA management" is more based on speculation than the actual facts. It is pertinent to mention here that the European airports, especially, London (Heathrow Airport), Paris (Charles de Gaulle) and Ger
Published 23 Dec, 2010 12:00am
Engro Foods launches 'Tarang Bhara Des' campaign

Engro Foods launches 'Tarang Bhara Des' campaign

Engro Foods Limited continues its endeavour to highlight the diverse cultures of Pakistan through its latest campaign for "Tarang" tea whitener; "Tarang Bhara Des". Pulsating with the catchy lyrics "Mera des hai Tarang main, suroor kay sachay rang main",
Published 23 Dec, 2010 12:00am
KPT holds medical camp at Baba, Bhit islands

KPT holds medical camp at Baba, Bhit islands

Karachi Port Trust (KPT) in collaboration with a team of Pakistani American doctors from the United States and a student from Cornell University New York held a medical camp on December 22 at Baba and Bhit islands to screen eye diseases and diabetes.
Published 23 Dec, 2010 12:00am
Islamic banks may begin issuing credit cards by 2011

Islamic banks may begin issuing credit cards by 2011

Islamic banks are likely to start issuing credit cards by 2011, Country Head, Al-Baraka Bank (Pakistan) Limited, Shafqat Ahmed informed business community on Wednesday. Speaking at first meeting of year 2010-11 of Banking and Insurance Sub-committee of Ka
Published 23 Dec, 2010 12:00am
Special efforts to be made to patronise artists: minister

Special efforts to be made to patronise artists: minister

The Provincial Minister for Fisheries Zahid Ali Bhurgri has said that special efforts will be made to patronize the artists of Sindh and to promote their services. He was speaking as chief guest at a seminar on Our Art: Past and Present organised by the I
Published 23 Dec, 2010 12:00am
ANP calls for joint Saarc Parliament, Supreme Court, common currency

ANP calls for joint Saarc Parliament, Supreme Court, common currency

Awami National Party (ANP) senior leader Haji Muhammad Adil said that there should be a joint Saarc Parliament, Supreme Court and Common Currency so that people of the region could get maximum benefit of each others resources. Senator Haji Muhammad Adil w
Published 23 Dec, 2010 12:00am
Corruption needs to be curbed for socio-economic uplift: NAB chief

Corruption needs to be curbed for socio-economic uplift: NAB chief

The Chairman NAB, former Justice Syed Deedar Hussain Shah has reiterated that corruption needs to be checked for the overall social and economic development of the country and urged to increase efforts for bringing transparency, fairness and enforcement o
Published 23 Dec, 2010 12:00am
DIG pledges to make Islamabad police a corruption-free service

DIG pledges to make Islamabad police a corruption-free service

Deputy Inspector General of Police (DIGP Operations) Bani Ameen has expressed his determination to make Islamabad police a corruption free department. Addressing police officials in a meeting held to review the performance of various police circles in cur
Published 23 Dec, 2010 12:00am
ANF arrests 18 drug pushers

ANF arrests 18 drug pushers

Anti Narcotics Force (ANF) arrested 18 drug pushers, including nine female and two male foreign smugglers in different operations and recovered 15.8-kg heroin, 650-kg charas and 29-kg opium from them, seizing two vehicles. A spokesman of the ANF said that
Published 23 Dec, 2010 12:00am
Supreme Court restores two Punjab University's assistant professors

Supreme Court restores two Punjab University's assistant professors

A three-member bench of the Supreme Court here on Wednesday restored two assistant professors (APs) of Centre for High Energy Physics (CHEP), University of the Punjab, who were removed from services on alleged plagiarism. The bench headed by Chief Justice
Published 23 Dec, 2010 12:00am
Development work in tribal areas: Where security is major concern

Development work in tribal areas: Where security is major concern

In an exclusive interview, the first ever with any national daily, Edward W. Birgells, (Regional Director Khyber Pakhtunkhwa/FATA for US Agency for International Development) and Shakeel Qadir (Secretary, Provincial Reconstruction, Rehabilitation and Sett
Published 23 Dec, 2010 12:00am
Increase in home remittances

Increase in home remittances

At a time when most of the economic indicators, like the budget deficit and inflation are showing worsening trends, remittances sent home by overseas Pakistanis continue to give much needed support to the external sector of the country. These amounted to
Published 23 Dec, 2010 12:00am
Joe Biden's convoluted reasoning

Joe Biden's convoluted reasoning

Not many in Pakistan agreed with President Obama's 'strategic review' of US military surge in Afghanistan unveiled last week, but what Vice President Joe Biden has added to it as his addendum is totally frivolous and uncalled for. His assertion that by ca
Published 23 Dec, 2010 12:00am
VIEWPOINT: Whose war is it anyway?

VIEWPOINT: Whose war is it anyway?

The New York Times carried a report on Monday, saying American officials are pushing for an expanded campaign of special operations, ground raids across the border into Pakistan's tribal areas. It apparently is a deliberate 'leak' to pressure Pakistan to
Published 23 Dec, 2010 12:00am
The 'enigma' of capital and the crisis of capitalism

The 'enigma' of capital and the crisis of capitalism

Capitalism's fundamental nature gives rise to two major philosophical challenges. The first is the tension between equality and liberty. Both ideas appeal strongly to our sense of tightness. Democracy implies both liberty, including individual pursuit of
Published 23 Dec, 2010 12:00am
Dr Sir Ziauddin Ahmad: An inspiring vision

Dr Sir Ziauddin Ahmad: An inspiring vision

Sir Ziauddin Ahmad, Vice Chancellor and rector of Aligarh Muslim University, was an eminent mathematician, a great educationist and above all, a great humanitarian person of the Indo-Pakistan subcontinent. He was a great benefactor of the Muslims and left
Published 23 Dec, 2010 12:00am
M A ZUBERI

M A ZUBERI

Muhammad Ahmed Zuberi was a historic personality, having association with Quaid-e-Azam Muhammad Ali Jinnah and also pioneer of financial and business journalism and founding editor of Business Recorder and a leading and respectable figure in the jo
Published 23 Dec, 2010 12:00am
II

II

It is beyond any doubt that M A Zuberi was the founder of financial journalism in Pakistan and the highest and esteemed position, which Business Recorder is enjoying, is the outcome of his untiring efforts, dedication and leadership qualities.
Published 23 Dec, 2010 12:00am
III

III

M A Zuberi was a visionary and legend in the annals of journalism. He was an associate of Quaid-e-Azam. He served the country to his best.
Published 23 Dec, 2010 12:00am
IV

IV

The late M A Zuberi was a pioneer in business and finance journalism, who always advocated the cause of trade and industry in the Business Recorder, and always highlighted the views of SITE Association of Industry. His services to journalism in Pak
Published 23 Dec, 2010 12:00am
V

V

M A Zuberi, an illustrious citizen of Pakistan, played a highly important role in the development of journalism in Pakistan. He was highly esteemed for his professionalism; in him, we will miss a veteran journalist.
Published 23 Dec, 2010 12:00am
VI

VI

The late Zuberi was the pioneer of economic and financial journalism in Pakistan. He was a fair, fearless and forceful journalist of great vision and integrity. He always championed the cause of those in need. An ardent patriot, he put the country and nat
Published 23 Dec, 2010 12:00am
State Bank clarifies

State Bank clarifies

A news item released by APP, Islamabad and carried by a section of the press today regarding the issuance of a new Liara Sukuk under which Government of Pakistan (GoP) plans to raise Rs 80 billion. The news item is incorrect and misleading. It is clarifie
Published 23 Dec, 2010 12:00am
Pakistani envoy calls on ruler of Ras Al-Khaimah

Pakistani envoy calls on ruler of Ras Al-Khaimah

Pakistan's ambassador to the United Arab Emirates, Jamil Ahmed Khan on Wednesday called on ruler of Ras Al-Khaimah, Shaikh Saud bin Saqr Al-Qasimi at his Palace and sought collaboration with Pakistan in the areas of trade and industry.
Published 23 Dec, 2010 12:00am
Khyber Pakhtunkhwa government dismayed by Federal minister's remarks

Khyber Pakhtunkhwa government dismayed by Federal minister's remarks

The Khyber Pakhtunkhwa (KP) government has taken exception to the remarks of Federal Minister for Education Assef Ahmad Ali regarding introduction of regional language-based medium of education in provinces. Speaking on the floor of the provincial assembl
Published 23 Dec, 2010 12:00am
Chitralis demand de-freezing funds for Lowari Tunnel

Chitralis demand de-freezing funds for Lowari Tunnel

Residents of Chitral Wednesday staged a protest demonstration outside press club against closure of Lowari Tunnel project and freezing of funds of the concerned construction company. The protesters warned that in case government failure to release funds b
Published 23 Dec, 2010 12:00am
PPDA protests auctioning of petrol pumps leased out by LDA

PPDA protests auctioning of petrol pumps leased out by LDA

Pakistan Petroleum Dealers Association (PPDA) held a protest rally at Charing Cross on Mall road before the Provincial Assembly against auctioning of 18 LDA sites leased out to petrol companies in the provincial capital on 28th December. PPDA demanded of
Published 23 Dec, 2010 12:00am
US MIDDAY: corn, wheat jump

US MIDDAY: corn, wheat jump

US corn futures rose for a sixth straight session on Wednesday to touch a 28-month high, while soyabeans hit a 5-1/2 week peak on strong Chinese demand prospects and concerns that weather would cut Argentine crops. Wheat jumped more than 2 percent to a 4-
Published 23 Dec, 2010 12:00am
US MIDDAY: cocoa steadies

US MIDDAY: cocoa steadies

ICE cocoa futures were steady early on Wednesday as prices were supported by Ivory Coast unrest as an election dispute dragged on, raising concerns about future cocoa supplies from the world's top producer. Second-month cocoa futures on ICE were down $5 t
Published 23 Dec, 2010 12:00am
Gold higher in Europe

Gold higher in Europe

Gold was firmer in Europe on Wednesday, building on three straight sessions of gains, as the dollar extended losses after data showed US growth was slightly stronger than expected in the third quarter. Spot gold was bid at $1,386.80 an ounce at 1555 GMT,
Published 23 Dec, 2010 12:00am
Gold up in Asia

Gold up in Asia

Gold inched up on Wednesday, with sentiment still supported by worries of more ratings downgrades for debt-ridden European countries. Volume was thin ahead of the year-end holidays and some investors were careful about taking too much position ahead of th
Published 23 Dec, 2010 12:00am
US gold springs back

US gold springs back

US gold futures regained lost ground late on Tuesday, as worries over further downgrades to some European countries' embattled debt boosted the precious metal's desirability as a safe-haven asset, though pre-holiday conditions kept prices in a tight range
Published 23 Dec, 2010 12:00am
Oil hits two-year high on US stockpile drop, cold

Oil hits two-year high on US stockpile drop, cold

Oil prices surged to a 26-month high on Wednesday near $91 a barrel as a third straight weekly drop in US crude inventories and cold weather on both sides of the Atlantic spurred pre-holiday buying. Crude stockpiles fell 5.3 million barrels last week, bri
Published 23 Dec, 2010 12:00am
Liffe cocoa up, sugar falls

Liffe cocoa up, sugar falls

Liffe May cocoa ended 2 pounds higher at 2,018 pounds a tonne on Wednesday, underpinned by concerns over risks to supplies from top producer Ivory Coast after a disputed November 28 election. Liffe March white sugar ended $25.80 lower at $784.50 per tonne
Published 23 Dec, 2010 12:00am
Tokyo rubber futures extend gains

Tokyo rubber futures extend gains

Tokyo rubber futures extended gains on Wednesday, with the new benchmark contract rising to a lifetime high, but further rises were limited with many investors waiting to lock in profits, traders said. The June 2011 contract, which debuted on Wednesday, r
Published 23 Dec, 2010 12:00am
Malaysian palm oil rises

Malaysian palm oil rises

Malaysian crude palm oil futures hit a one-week high on Wednesday as traders priced in heavy rains cutting into this month's output. Palm oil has gained for three straight sessions as investors favoured commodity assets as a hedge against rising inflation
Published 23 Dec, 2010 12:00am
Copper stays within reach of record highs

Copper stays within reach of record highs

Copper stayed within reach of record highs on Wednesday as supply concerns persisted, but investor book-squaring undermined prices of base metals. Benchmark copper on the London Metal Exchange ended at $9,350 a tonne from a close at $9,365 on Tuesday. It
Published 23 Dec, 2010 12:00am
Shanghai copper hits 33-month high

Shanghai copper hits 33-month high

Shanghai copper hit a 33-month high on Wednesday, before the rally fizzled on weakness in the equity market, but an upward trend in prices is expected to stay on supply concerns. Shanghai's benchmark third-month copper rose to 70,000 yuan a tonne in early
Published 23 Dec, 2010 12:00am
New York cotton ends limit down

New York cotton ends limit down

US cotton futures ended down the 5-cent daily limit on Wednesday on profit-taking and investor liquidation one day after the market hit a record top, and analysts believe cotton may see follow-through pressure before the long Christmas break. The market w
Published 23 Dec, 2010 12:00am
China says will import to refill agricultural stocks

China says will import to refill agricultural stocks

China's Commerce Ministry said the country will increase imports of key agricultural commodities which are in tight supply in 2011 to replenish central government reserves. Minister Chen Deming told an internal meeting of the ministry that the government
Published 23 Dec, 2010 12:00am
Cameroon cocoa exports hit 85,193 tonnes

Cameroon cocoa exports hit 85,193 tonnes

Cocoa exports from Cameroon's Douala port hit 85,193 tonnes by on December 19 since the start of the season in August, according to official statistics obtained by Reuters on Tuesday. The statistics from the world's fifth-largest cocoa grower showed that
Published 23 Dec, 2010 12:00am
China bars English words in all publications

China bars English words in all publications

Chinese newspapers, books and websites will no longer be allowed to use English words and phrases, the country's publishing body has announced, saying the "purity" of the Chinese language is in peril. The General Administration of Press and Publication, w
Published 23 Dec, 2010 12:00am
Saudi king leaves hospital, TV shows him walking

Saudi king leaves hospital, TV shows him walking

Saudi Arabia's King Abdullah has left a New York hospital in "good health" after a month of treatment, state media said on Wednesday, showing pictures of the elderly monarch walking down a corridor. Media gave no date for when King Abdullah, who is around
Published 23 Dec, 2010 12:00am
Saudi pro-democracy group's protest banned

Saudi pro-democracy group's protest banned

A pro-democracy group says Saudi authorities turned down a request to hold the kingdom's first sit-in protest to demand political reforms, including a constitution and elections. The Saudi Civil and Political Rights Association said in a statement Wednesd
Published 23 Dec, 2010 12:00am
Iraqi cabinet meets for first time

Iraqi cabinet meets for first time

Security concerns topped the agenda Wednesday as Iraq's new cabinet held its first meeting, a day after the government was formed. Parliament, after nine months of political deadlock, broke the impasse and elected a "partial" cabinet, with 17 out of 42 mi
Published 23 Dec, 2010 12:00am
Obama signs 'don't ask, don't tell' repeal

Obama signs 'don't ask, don't tell' repeal

Declaring that members of the US military will no longer be asked to lie, President Barack Obama fulfilled a campaign promise Wednesday and signed a landmark law repealing the ban on gay men and women serving openly in the armed services. For Obama, it wa
Published 23 Dec, 2010 12:00am
Obama signs bill to keep federal agencies running

Obama signs bill to keep federal agencies running

President Barack Obama has signed a stopgap spending bill into law, keeping the federal government open through early next year. A statement issued Wednesday by Obama's press secretary says the move ensures government agencies will be able to operate thro
Published 23 Dec, 2010 12:00am
Senate ratifies nuclear treaty with Russia

Senate ratifies nuclear treaty with Russia

The US Senate on Wednesday ratified a landmark nuclear arms control treaty with Russia, handing President Barack Obama a signal diplomatic and political victory after a months-long battle. Lawmakers voted 71-26 in favour of the new Strategic Arms Reductio
Published 23 Dec, 2010 12:00am
A quarter of US graduates fail army exam: report

A quarter of US graduates fail army exam: report

Nearly a quarter of US high school graduates who seek to enlist in the military are turned down because they fail its entry exam, an education advocacy group said Wednesday. Of the 350,000 graduates who met the armed forces' physical requirements from 200
Published 23 Dec, 2010 12:00am
UK trained Bangladesh's controversial paramilitary: WikiLeaks

UK trained Bangladesh's controversial paramilitary: WikiLeaks

Britain trained a controversial paramilitary in Bangladesh, which has been repeatedly accused of large-scale human rights abuses, leaked United States diplomatic cables show. The cables, published by WikiLeaks, also show that Western governments were awar
Published 23 Dec, 2010 12:00am
WikiLeaks' Assange appears in comedy rap role

WikiLeaks' Assange appears in comedy rap role

The creators of Australian Internet hit "Rap News" Wednesday said they were still "pinching themselves" after controversial and reclusive WikiLeaks founder Julian Assange appeared in a cameo role. University researcher Giordano Nanni and English teacher H
Published 23 Dec, 2010 12:00am
Russia blames Britain over tit-for-tat expulsions

Russia blames Britain over tit-for-tat expulsions

Russia's Foreign Ministry says that Britain's decision to expel a Russian diplomat was unfriendly and unfounded. The ministry's statement Wednesday came a day after the British Foreign Office said that a Russian diplomat had been expelled for spying. Mosc
Published 23 Dec, 2010 12:00am
Protests in Delhi over corruption scandals

Protests in Delhi over corruption scandals

Thousands of protesters gathered in New Delhi on Wednesday to demonstrate against alleged government corruption as opposition parties launched a nation-wide series of rallies. The Bharatiya Janata party (BJP) and its allies called for regular protests aft
Published 23 Dec, 2010 12:00am
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