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Archive - 2011-01-12
Pakistan strong ally of US - Biden
Top News

Pakistan strong ally of US - Biden

ISLAMABAD: United States Vice President Joe Biden has said that Pakistan is a strong partner of America against terroris
Published 12 Jan, 2011 01:04pm
European stocks climb at open
Financial

European stocks climb at open

LONDON: Europe's main stock markets rose at the start of trading on Wednesday, as dealers looked ahead to a key bond auc
Published 12 Jan, 2011 11:00am
Biden in Islamabad for anti-terror talks
Top News

Biden in Islamabad for anti-terror talks

ISLAMABAD: US Vice President Joe Biden arrived in Islamabad Wednesday for counterterrorism talks with Pakistan's top lea
Published 12 Jan, 2011 08:57am
Oil mixed in Asian trade
Commodities

Oil mixed in Asian trade

SINGAPORE: Oil prices were mixed in Asian trade Wednesday with the shutting down of two North Sea oil fields compounding
Published 12 Jan, 2011 06:54am
Moderate quake felt in Shanghai
Asia

Moderate quake felt in Shanghai

SHANGHAI: A moderate earthquake centred in the Yellow Sea off China's eastern coast rattled Shanghai on Wednesday, causi
Published 12 Jan, 2011 06:44am
AIG to sell Taiwan unit to Ruentex group
Top News

AIG to sell Taiwan unit to Ruentex group

TAIPEI: US government-controlled insurance giant AIG was expected to announce Wednesday the sale of its Taiwan unit to a
Published 12 Jan, 2011 06:28am
LSM sector struggles
BR Research

LSM sector struggles

The production of large scale manufacturers is getting smaller by the day. In recent news, the LSM index measured by the Federal Bureau of S
Published 12 Jan, 2011 12:00am
Strain on the dinner plate
BR Research

Strain on the dinner plate

Just as the economies of the world have been battling with budget deficit problems, currency wars and default risks, a crisis seems to be br
Published 12 Jan, 2011 12:00am
Civil Awards to be conferred also on civil servants

Civil Awards to be conferred also on civil servants

Pakistan is to follow India, Bangladesh and Sri Lanka in conferring civil awards to civil servants (commonly known as Baboos) under the Decorations Act, 1975, sources in Cabinet Division told Business Recorder. The civil awards, instituted under Ar
Published 12 Jan, 2011 12:00am
Senate body meets Sri Lankan parliamentary team

Senate body meets Sri Lankan parliamentary team

A meeting of the Senate Standing Committee on Foreign Affairs, Kashmir Affairs and Gilgit -Baltistan with a six-member Sri Lankan Parliamentary Delegation led by Chamal Rajapaksa, Speaker of the Sri Lankan Parliament was held at Parliament House on Tuesda
Published 12 Jan, 2011 12:00am
Home textile exports worth $80 million hit by gas loadshedding

Home textile exports worth $80 million hit by gas loadshedding

Exports of home textile worth 80 million dollars from upcountry have been hit by gas load shedding coupled with electricity over the last eight days rendering 8000 daily wagers jobless, said Adil Manzoor Ellahi, Acting Chairman Pakistan Textile Exporters
Published 12 Jan, 2011 12:00am
Ill-conceived strategy causes gas shortage

Ill-conceived strategy causes gas shortage

An ill-planned gas connection strategy by the government has resulted into severe gas shortage, as no one, right from domestic to industrial consumers, is happy with it. Particularly, gas supply to the textile industry is at halt since last week, closing
Published 12 Jan, 2011 12:00am
Exhibition 'Let a thousand flowers bloom' opens

Exhibition 'Let a thousand flowers bloom' opens

Vice-Chancellor Punjab University, Professor Dr Mujahid Kamran inaugurated an exhibition of paintings titled "Let a thousand flowers bloom" of renowned artist Ali Azmat at Ejaz Art Galleries Gulberg on Tuesday. Principal PU College of Art & Design, Profes
Published 12 Jan, 2011 12:00am
Closure of CNG stations: Transporters raise fares by 50 percent

Closure of CNG stations: Transporters raise fares by 50 percent

Wagon and bus owners have increased fares by 50 percent due to closure of CNG stations and non-availability of gas. Besides, 170 industrial units remained closed on the second day, rendering more than 50,000 workers jobless. The gas authorities and textil
Published 12 Jan, 2011 12:00am
Industrialists concerned over six-day weekly gas loadshedding

Industrialists concerned over six-day weekly gas loadshedding

More than 600 industrial units, 100,000 powerlooms remained closed on fifth consecutive day on Tuesday due to six days gas loadshedding in Faisalabad. Around 400,000 workers most of them daily wagers lost their jobs. Scheduled and unscheduled loadshedding
Published 12 Jan, 2011 12:00am
GCU organises 'Help the Helpless' exhibition

GCU organises 'Help the Helpless' exhibition

The Government College University Lahore amateur artists on Tuesday used art as a toll to sensitise the society about the importance of helping poor students in completing their education. Consul General United States, Lahore Carmella Conroy opened the ex
Published 12 Jan, 2011 12:00am
Pakistan needs foreign investment: Shahbaz

Pakistan needs foreign investment: Shahbaz

Punjab Chief Minister Muhammad Shahbaz Sharif has said that the Punjab government has provided an environment conducive to investment in the province and maximum facilities are being offered to investors. He was talking to a delegation of a leading indust
Published 12 Jan, 2011 12:00am
Business community urged to explore Argentina market

Business community urged to explore Argentina market

Pak Ambassador to Argentina Ms Naela Chohan has said that all channels and modes were being mobilised for the promotion of trade ties between Pakistan and Argentina. In an interview with Business Recorder here on Monday afternoon at Sialkot Chamber
Published 12 Jan, 2011 12:00am
Harvard University students' team visits LCCI

Harvard University students' team visits LCCI

An eight-member delegation of Harvard University students on Tuesday visited Lahore Chamber of Commerce and Industry (LCCI) to get themselves updated on as how trade and industry in the part of the world was coping with internal and external challenges be
Published 12 Jan, 2011 12:00am
Demolition of chambers: lawyers observe partial boycott

Demolition of chambers: lawyers observe partial boycott

The lawyers' on Tuesday boycotted the court partially protesting against demolition of the chambers in Sheikhupura by district administration. The lawyers also held meetings to condemn police torture on lawyers in Sheikhupura. They only dealt with cases o
Published 12 Jan, 2011 12:00am
JUP condemns Pope's statement

JUP condemns Pope's statement

Provincial President of Jamiat Ulema-i-Pakistan (JUP) Mufti Hidayatullah Pasroori has strongly condemned Pope Benedict's demand for repealing the Blasphemy Law terming it an open interference in Pakistan's internal and religious affairs. He said Pope's as
Published 12 Jan, 2011 12:00am
Pacra upgrades stability rating of Pakistan Income Enhancement Fund

Pacra upgrades stability rating of Pakistan Income Enhancement Fund

Pakistan Credit Rating Agency (Pacra) has upgraded the stability rating of Pakistan Income Enhancement Fund (PIEF) to "AA-(f)" (Double A Minus-fund rating) [Previous rating: 'A+ (f)' (Single A Plus - fund rating)], an open-end aggressive income fund. The
Published 12 Jan, 2011 12:00am
Pacra upgrades stability rating of Pakistan Income Enhancement Fund

Pacra upgrades stability rating of Pakistan Income Enhancement Fund

Pakistan Credit Rating Agency (Pacra) has upgraded the stability rating of Pakistan Income Enhancement Fund (PIEF) to "AA-(f)" (Double A Minus-fund rating) [Previous rating: 'A+ (f)' (Single A Plus - fund rating)], an open-end aggressive income fund. The
Published 12 Jan, 2011 12:00am
Pacra upgrades stability rating of Alfalah GHP Cash Fund

Pacra upgrades stability rating of Alfalah GHP Cash Fund

The Pakistan Credit Rating Agency (PACRA) has upgraded the stability rating to 'AA+(f)' (Double A Plus - Fund Rating) [Previous rating: "AA(f)" (Double A - Fund Rating)] of Alfalah GHP Cash Fund (AGCF), an open-end money market fund. The fund's rating den
Published 12 Jan, 2011 12:00am
Pacra upgrades stability rating of Alfalah GHP Cash Fund

Pacra upgrades stability rating of Alfalah GHP Cash Fund

The Pakistan Credit Rating Agency (PACRA) has upgraded the stability rating to 'AA+(f)' (Double A Plus - Fund Rating) [Previous rating: "AA(f)" (Double A - Fund Rating)] of Alfalah GHP Cash Fund (AGCF), an open-end money market fund. The fund's rating den
Published 12 Jan, 2011 12:00am
Stability rating of Pakistan Cash Management Fund maintained

Stability rating of Pakistan Cash Management Fund maintained

The Pakistan Credit Rating Agency (Pacra) has maintained the stability rating of Pakistan Cash Management Fund (PCF) at 'AAA (f) (Triple A- fund rating), an open-end money market fund. The fund's rating denotes an exceptionally strong capacity to maintain
Published 12 Jan, 2011 12:00am
Stability rating of Pakistan Cash Management Fund maintained

Stability rating of Pakistan Cash Management Fund maintained

The Pakistan Credit Rating Agency (Pacra) has maintained the stability rating of Pakistan Cash Management Fund (PCF) at 'AAA (f) (Triple A- fund rating), an open-end money market fund. The fund's rating denotes an exceptionally strong capacity to maintain
Published 12 Jan, 2011 12:00am
Industrial areas: Ibad asks KESC to ensure smooth power supply

Industrial areas: Ibad asks KESC to ensure smooth power supply

Sindh Governor Dr Ishrat ul Ibad has directed the Karachi Electric Supply Company (KESC) to streamline its distribution system and ensure uninterrupted power supply to industrial areas of the city. The Governor also directed the KESC and SSGC to improve t
Published 12 Jan, 2011 12:00am
Punjab Assembly demands reconstitution of Irsa

Punjab Assembly demands reconstitution of Irsa

Punjab Assembly on Tuesday passed a resolution by opposition MPA Muhammad Mohsin Khan Laghari demanding reconstitution of Irsa and taking of fifth member of Irsa from neutral area such as Azad Kashmir or Islamabad. In the resolution opposition member said
Published 12 Jan, 2011 12:00am
Revival plan: PIAF criticises economic managers

Revival plan: PIAF criticises economic managers

The Pakistan Industrial and Traders Associations Front (PIAF) has severely criticised the government's economic managers for their failure in evolving an economic revival plan. The PIAF Chairman Irfan Qaiser stated this while addressing the PIAF Executive
Published 12 Jan, 2011 12:00am
Eggs and chicken prices on the rise

Eggs and chicken prices on the rise

The increasing chill in the weather has multiplied the demand of eggs and chicken thus registering a sharp increase in the prices of two products. Normally in winter season, the use of poultry products especially eggs increases, which ultimately result in
Published 12 Jan, 2011 12:00am
Blasphemy case: Father, son sentenced to life term

Blasphemy case: Father, son sentenced to life term

Muhammad Shafi (45) and his son Muhammad Aslam (20) were sentenced to life imprisonment and fined Rs 2,20,000 each by the Anti Terrorism Court Dera Ghazi Khan on the charge of desecration of posters of Eid-Milad-un-Nabi. The case was registered against th
Published 12 Jan, 2011 12:00am
SSGC increases gas supply to KESC

SSGC increases gas supply to KESC

After improvement in the line pack situation, Sui Southern Gas Company on Tuesday, increased gas supply to Karachi Electric Supply Company (KESC) from 30mmcfd to 50mmcfd. According to a statement issued here on Tuesday, the SSGC assured its customers that
Published 12 Jan, 2011 12:00am
Practical exams from January 17

Practical exams from January 17

The Controller of Examinations, Board of Intermediate & Secondary Education Hyderabad has notified for information that the "Practicals" of HSC Part-II (Class-XII) Supplementary Examination 2010 in Physics, Chemistry, Biology, Computer Science, Library Sc
Published 12 Jan, 2011 12:00am
Law on bar councils to be amended

Law on bar councils to be amended

The government has decided to amend 'Legal Practitioners and Bar Council Act, 1973' to make provisions for Bar Council for Islamabad Capital Territory (ICT) and other related matters, sources in Law Ministry told Business Recorder.
Published 12 Jan, 2011 12:00am
PIA, Turkish Air cooperation a step towards Star Alliance membership

PIA, Turkish Air cooperation a step towards Star Alliance membership

Alliance with Turkish Airlines may act as a step for PIA towards becoming member of Star Alliance, the largest airline grouping in the World, stated by PIA Spokesman. He termed the recent statements by leaders of the employees associations of PIA publishe
Published 12 Jan, 2011 12:00am
Byzantine power struggle

Byzantine power struggle

Consequent to what one may describe as Prime Minister Gilani's political acumen or the triumph of politicians' shared lust for power, Nawaz Sharif's 'ultimatum' has vanished into thin air and everything is seemingly back to square one.
Published 12 Jan, 2011 12:00am
Revision of the personal loan limit

Revision of the personal loan limit

The State Bank on 6th January, 2011 directed all banks and DFIs to ensure that overall credit card and personal loan limits availed by an individual should not exceed Rs 5 million in aggregate at any point of time. In addition, the limit of Rs 5 million w
Published 12 Jan, 2011 12:00am
Price stability, growth and monetary policy

Price stability, growth and monetary policy

Every time monetary policy is issued by SBP, a debate on its consequences and effectiveness begins, particularly when a tight monetary policy stance is adopted by increasing the policy rate. Most of these apprehensions reflect concern for growth, which is
Published 12 Jan, 2011 12:00am
War on terror: a serious threat to economy

War on terror: a serious threat to economy

Terrorism is the cruellest of crimes, kills less criminals but more innocent people. It is a great hurdle in socio-economic prosperity, political stability, geo-strategic sustainability and energy security of nations. Without conceited any moral equivalen
Published 12 Jan, 2011 12:00am
Arab nations eye south Sudanese secession suspiciously

Arab nations eye south Sudanese secession suspiciously

With Southern Sudanese secession appearing ever more likely, a host of other nations in the region are nervously eyeing what that might mean for their own unity. The fear is of a domino effect, with other freedom-seeking groups taking South Sudan's move a
Published 12 Jan, 2011 12:00am
Shipping agents: cartelisation

Shipping agents: cartelisation

I must congratulate All Pakistan Paper Merchants Association (APPMA) for placing material before the Competition Commission of Pakistan in the matter of alleged loot by shipping companies/agents with impunity, and also to Rahat Kaunain Hasan, Chairperson
Published 12 Jan, 2011 12:00am
Two Air Commodores promoted

Two Air Commodores promoted

Air Commodores Hamid Shahab Hashmi and Arshad Khan have been promoted to the rank of Air Vice Marshal. Air Vice Marshal, Hamid Shahab Hashmi was commissioned in Pakistan Air Force in 1981 in Engg Branch. Currently, he is serving as Assistant Chief of Air
Published 12 Jan, 2011 12:00am
Death warrants to man: HRCP urges government to withdraw order

Death warrants to man: HRCP urges government to withdraw order

The Human Rights Commission of Pakistan (HRCP) has noted with concern the issuance of death warrants for a man in Sukkur jail and demanded withdrawal of the order, calling upon the government to continue with the informal moratorium on death penalty in pl
Published 12 Jan, 2011 12:00am
US tried to protect three in CIA nuclear spy effort: book

US tried to protect three in CIA nuclear spy effort: book

The United States pressured Swiss authorities not to prosecute three people suspected of weapons trafficking who had been helping a CIA spy effort, according to a book released this month. In the book "Fallout: The True Story of the CIA's Secret War on Nu
Published 12 Jan, 2011 12:00am
ICU to remain closed for four days after police-student clash

ICU to remain closed for four days after police-student clash

Police resorted baton charge and tear gas shelling to disperse students of Islamia College University Peshawar (ICU) protesting against the refusal of administration to send their examination forms to Board of Intermediate and Secondary education Peshawar
Published 12 Jan, 2011 12:00am
Pakistan, Bulgaria to sign 'economic cooperation agreement'

Pakistan, Bulgaria to sign 'economic cooperation agreement'

Pakistan and Bulgaria will sign 'economic co-operation agreement' during the scheduled three-day visit of the Bulgarian Foreign Minister to Islamabad who is due to arrive here on January 19, sources in Economic Affairs Division (EAD) told Business Reco
Published 12 Jan, 2011 12:00am
Punjab government assures traders of full security

Punjab government assures traders of full security

Punjab government has assured maximum security to the traders and removal of encroachments in the main markets of the city, here on Tuesday. The presidents and general secretaries of 50 boards (one board comprises of 20 markets) held a meeting with the Di
Published 12 Jan, 2011 12:00am
Bacha Khan Rozgar Scheme to begin from next month

Bacha Khan Rozgar Scheme to begin from next month

The provincial cabinet of Khyber Pakhtunkhwa on Tuesday approved the formal launching of the Bacha Khan Khpal Rozgar Scheme from next month. The decision of the launching of scheme was taken in 30th meeting of the provincial cabinet held here at the Cabin
Published 12 Jan, 2011 12:00am
SECP registers 293 companies in December

SECP registers 293 companies in December

The Securities and Exchange Commission of Pakistan (SECP) registered 293 companies in December. Private companies had the highest share in new incorporation totalling 272, followed by 13 single-member companies, two public unlisted companies, three non-pr
Published 12 Jan, 2011 12:00am
JI files motion against proposed Pakistan Post privatisation

JI files motion against proposed Pakistan Post privatisation

Jamaat-i-Islami (JI) on Tuesday submitted adjournment motion to Senate Secretariat against the proposed privatisation of Pakistan Post (PP). The adjournment motion was signed by three JI Senators including Professor Khurshid Ahmed, Professor Mohammad Ibra
Published 12 Jan, 2011 12:00am
'China building $20 billion projects in Pakistan'

'China building $20 billion projects in Pakistan'

China is a time-tested friend of Pakistan in the region and is building projects worth $20 billions in the country whereas projects amounting to $14 billion are in the pipeline. This was stated by State Minister for Foreign Affairs, Nawabzada Malik Ammad
Published 12 Jan, 2011 12:00am
US MIDDAY: gold stays higher

US MIDDAY: gold stays higher

Gold prices rose for a second day on Tuesday as deepening worries over the severity of the European debt crisis prompted safe-haven buying. Japan promised to buy eurozone bonds this month, a day after China renewed its commitment to buy Spanish debt, high
Published 12 Jan, 2011 12:00am
US MIDDAY: wheat and corn up; soya slips

US MIDDAY: wheat and corn up; soya slips

Grain futures on the Chicago Board of Trade were mixed on Tuesday, with the wheat and corn contracts higher amid global weather concerns, traders said. Profit-taking sent soyabean futures lower. Front-month March wheat was supported by worries about possi
Published 12 Jan, 2011 12:00am
US MIDDAY: sugar gains

US MIDDAY: sugar gains

Raw sugar futures on ICE rose early on Tuesday with possible delays to exports from India heightening concern about nearby supply tightness. March raws rose 0.98 cent or 3.1 percent to 32.72 cents a lb by 1607 GMT. May cocoa on ICE rose 1.5 percent or $42
Published 12 Jan, 2011 12:00am
Gold steadies in Europe

Gold steadies in Europe

Gold steadied on Tuesday, as a late fall in the euro tempered some of the gains in the dollar price derived from safe-haven flows stemming from deepening worries over the severity of the European debt crisis. The decline in the gold price to around one-mo
Published 12 Jan, 2011 12:00am
Gold inches up in Asia

Gold inches up in Asia

Gold inched up on Tuesday on persistent worries about indebted eurozone countries, while purchases from investors and jewellers pushed up premiums for gold bars to their highest in two years. Bullion's drop to its lowest in more than a month last week als
Published 12 Jan, 2011 12:00am
Gold rises in US

Gold rises in US

Gold rose on Monday, ending a week of sharp losses, as worries over Portugal's debt boosted safe-haven demand for the precious metal while a softer dollar helped its role as an inflation hedge. Higher demand for gold from top consumer India - following la
Published 12 Jan, 2011 12:00am
Oil climbs above $91

Oil climbs above $91

US oil prices shot back above $91 a barrel on Tuesday after additional production snags on both sides of the Atlantic added to supply concerns as Alaska's shut crude pipeline still had more than half a million barrels per day of output offline. Norway's o
Published 12 Jan, 2011 12:00am
Liffe sugar soars

Liffe sugar soars

Liffe March white sugar ended $31.90 higher at $807.40 per tonne on Tuesday. Fears of potential delays to exports from top grower India push up prices, also exacerbated by worries about possible downward revisions to the crop outlook. Liffe May cocoa clos
Published 12 Jan, 2011 12:00am
US soyabeans up

US soyabeans up

Soyabean futures on the Chicago Board of Trade closed with a 1.14 percent gain on Monday, bolstered by hot and dry weather in Argentina and bullish market expectations for Wednesday's US Agriculture Department crop report, traders said. Firm crude oil pri
Published 12 Jan, 2011 12:00am
Sugar, coffee and cocoa rise

Sugar, coffee and cocoa rise

Sugar, coffee and cocoa futures closed firm on Monday in mostly rangebound dealings as the softs consolidated following last week's volatility and felt a lift from a strong commodity complex. "Overall commodities are supported across the board - grains, c
Published 12 Jan, 2011 12:00am
Malaysian palm oil falls

Malaysian palm oil falls

Malaysian crude palm oil eased on Tuesday, ahead of a key US Department of Agriculture report that will likely trim the agency's forecast for South American soya output due to a lingering dry spell. The USDA crop report due on Wednesday may also show lowe
Published 12 Jan, 2011 12:00am
Tokyo rubber futures up

Tokyo rubber futures up

Tokyo rubber futures edged 1 percent higher on Tuesday, tracking firm oil prices, but gains were capped by profit-taking and investors grew cautious about high prices, dealers said. The benchmark rubber contract for June delivery rose 4.8 yen, or 1.1 perc
Published 12 Jan, 2011 12:00am
Copper climbs

Copper climbs

Copper prices climbed on Tuesday on a strong start to the corporate earnings season and expectations of improving 2011 demand, but lingering concerns over European debt tempered the rise. Benchmark copper on the London Metal Exchange closed at $9,510 a to
Published 12 Jan, 2011 12:00am
Shanghai copper gains

Shanghai copper gains

Shanghai's benchmark third-month copper futures contract closed up one percent at 70,510 yuan ($10,624) a tonne on Tuesday "It is a rebound from consecutive days of decline, as the 20-day moving average turns out a strong support level," said a Shanghai-b
Published 12 Jan, 2011 12:00am
US copper falls

US copper falls

Copper fell for a fifth straight session on Monday, its longest losing streak since June, as concerns about slower purchases from top-consumer China weighed on sentiment and dragged prices down toward the bottom of their technical range. COMEX copper for
Published 12 Jan, 2011 12:00am
New York cotton ends limit-up

New York cotton ends limit-up

US cotton futures closed up the daily trading limit on Tuesday on speculative buying ahead of a US government report that is expected to show reduced supplies in China and a smaller crop in flood-ravaged Australia, analysts said. The benchmark March cotto
Published 12 Jan, 2011 12:00am
'3G services to be available by the end of 2011'

'3G services to be available by the end of 2011'

The Secretary Cabinet Division, Abdur Rauf Chaudhry has said that 3G services would hopefully be available to the Pakistan mobile users by the end of 2011, while it is expected that the policy for auction of 3G services licenses would soon be presented to
Published 12 Jan, 2011 12:00am
Man, son gunned down

Man, son gunned down

Naseer Ahmed Chandia and his son Munir Ahmed were shot dead by Asif Mohana and his accomplices on Tuesday in Rangpur (Muzaffargarh district) to take revenge of murder of his (Asif) brother Asad Mohana following a land dispute. Police said that Naseer Chan
Published 12 Jan, 2011 12:00am
Automation of Securities Transfer Mechanism implemented

Automation of Securities Transfer Mechanism implemented

Central Depository Company (CDC), in collaboration with National Clearing Company of Pakistan Limited (NCCPL), recently implemented Automation of Securities Transfer Mechanism in the Central Depository System. This project was initiated in 2008 as a joint
Published 12 Jan, 2011 12:00am
Need stressed to revise environment laws

Need stressed to revise environment laws

Secretary, Environment and Alternative Energy Sindh, Mir Hussain Ali has emphasised need of early revision of environment laws. Speaking at a meeting of WTO, Intellectual Property Rights and Environment Sub committee of Karachi Chamber of Commerce and Ind
Published 12 Jan, 2011 12:00am
Power shortage costing economy $2.5 billion annually: experts

Power shortage costing economy $2.5 billion annually: experts

Experts at the 4th International Power Generation Conference 2011 said that the country's economy was facing huge losses of $2.5 billion per annum due to power shortage. The conference was jointly organised by Energy Update and Publicity Channel at a loca
Published 12 Jan, 2011 12:00am
EBM, URS to host Safe Food Conference 2011

EBM, URS to host Safe Food Conference 2011

At a recent pre-event press conference, it was disclosed that English Biscuit Manufacturers Pvt Limited (EBM) and United Registrar of Systems (URS) will host the ninth international Safe Food Conference 2011 on January 18, 2011 at Regent Plaza Hotel in Ka
Published 12 Jan, 2011 12:00am
Shershah scrap market carnage: nine more suspects surrender to SIU

Shershah scrap market carnage: nine more suspects surrender to SIU

Some nine more suspects of the Shershah scrap market carnage that claimed fourteen lives and wounded several others surrendered before Special Investigation Unit (SIU) of Sindh police on Tuesday. According to police sources, these nine suspects have not o
Published 12 Jan, 2011 12:00am
Customs seizes outbound courier parcel, recovers heroin

Customs seizes outbound courier parcel, recovers heroin

Pakistan Customs' Drug Enforcement Cell (DEC), Karachi Airport Unit on Tuesday recovered and seized contraband heroin from an outbound courier parcel at air export. According to details, the DEC staff while keeping surveillance on the outgoing courier art
Published 12 Jan, 2011 12:00am
US sees North Korea becoming direct threat, eyes ICBMs

US sees North Korea becoming direct threat, eyes ICBMs

North Korea is becoming a direct threat to the United States and could develop an inter-continental ballistic missile within five years, US Secretary of Defence Robert Gates said on Tuesday. The threat was first publicised by the US intelligence community
Published 12 Jan, 2011 12:00am
China confirms stealth jet test-flight: Gates

China confirms stealth jet test-flight: Gates

China confirmed it held its first test-flight of a stealth fighter jet on Tuesday, a show of muscle during a visit by US Defence Secretary Robert Gates aimed at defusing military tensions between the two big powers. Gates said Chinese President Hu Jintao
Published 12 Jan, 2011 12:00am
Assange extradition hearing set for next month

Assange extradition hearing set for next month

WikiLeaks founder Julian Assange made a brief appearance in a London court on Tuesday and will return next month for a full hearing on Sweden's efforts to extradite him for questioning over alleged sex crimes. The 39-year-old Australian computer expert, w
Published 12 Jan, 2011 12:00am
Five dead in Abidjan clashes

Five dead in Abidjan clashes

At least five people were killed in clashes between supporters of Ivory Coast's presidential claimant Alassane Ouattara and forces loyal to incumbent Laurent Gbagbo in Abidjan on Tuesday. The West African nation, the world's top cocoa producer, has been i
Published 12 Jan, 2011 12:00am
Iran warns neighbours not to aid Israel

Iran warns neighbours not to aid Israel

Iran warned neighbouring countries not to help its arch-foe Israel, one day after announcing it had rounded up a spy ring linked to Israel which it said had assassinated an Iranian nuclear scientist. Israel has not ruled out military strikes on the Islami
Published 12 Jan, 2011 12:00am
Merkel criticises Turkey on Cyprus peace efforts

Merkel criticises Turkey on Cyprus peace efforts

German Chancellor Angela Merkel criticised Turkey and Turkish Cypriots on Tuesday for not doing enough to achieve a deal to reunify war-divided Cyprus, and pledged to speak to Turkish officials to give the peace talks a boost. In the first visit by a Germ
Published 12 Jan, 2011 12:00am
Thousands flee Brisbane, flash floods kill 10

Thousands flee Brisbane, flash floods kill 10

Thousands of people fled central Brisbane Tuesday as the panicked city braced for its worst flooding in 120 years, after terrifying flash floods left 10 dead and 78 missing nearby. Workers evacuated en masse after the Brisbane River burst its banks and of
Published 12 Jan, 2011 12:00am
Israeli air strike kills one

Israeli air strike kills one

A 25-year-old Palestinian was killed on Tuesday in an Israeli air strike near the southern Gaza city of Khan Yunis, Palestinian medical sources said. Adham Abu Selmiya, spokesman for the Hamas-run health services in the Gaza Strip, named the man as Mohamm
Published 12 Jan, 2011 12:00am
Google launches global kids science fair

Google launches global kids science fair

Google on Tuesday launched its first ever global science fair for young people aged 13 to 18, with the grand prize being a trip to the Galapagos Islands and a 50,000-dollar scholarship. "Google is looking for the brightest young scientists from around the
Published 12 Jan, 2011 12:00am
Turkey urges stronger cooperation with Arabs

Turkey urges stronger cooperation with Arabs

Turkey's Prime Minister called on Arab nations Tuesday to boost co-operation with Ankara and to brush aside disputes that weakened ties in the past. "Arabs are our brothers," Recep Tayyip Erdogan said in a passionate speech at the opening of a two-day con
Published 12 Jan, 2011 12:00am
Militants in Yemen an urgent concern: Clinton

Militants in Yemen an urgent concern: Clinton

The United States views al Qaeda militants operating from Yemen as an urgent concern, Hillary Clinton said on Tuesday in the first visit to Sanaa by a US secretary of state in 20 years. Washington is anxious for Yemen, next door to the world's top oil exp
Published 12 Jan, 2011 12:00am
Saudi, Syria fail to reach Lebanon deal

Saudi, Syria fail to reach Lebanon deal

Saudi Arabia and Syria have failed to reach a deal aimed at curbing political tension in Lebanon over the 2005 killing of Rafik al-Hariri, Lebanese Christian politician Michel Aoun said on Tuesday. Saudi Arabia and Syria, powerful regional players who hav
Published 12 Jan, 2011 12:00am
Anger grows in Tunisia as 50 reported killed in riots

Anger grows in Tunisia as 50 reported killed in riots

Anger over a crackdown on protesters in Tunisia grew Tuesday as a union official said 50 were killed in three days of unrest while artists and hospital staff joined demonstrations. Locals reported looting in the town of Kasserine overnight and said demons
Published 12 Jan, 2011 12:00am
Troops deployed after 18 reported dead in Nigeria

Troops deployed after 18 reported dead in Nigeria

Soldiers rushed to restore calm to parts of central Nigeria on Tuesday with 18 people reported killed as renewed violence flared in the tense region, authorities said. Central Nigeria has seen a wave of violence in recent weeks, including Christmas Eve bo
Published 12 Jan, 2011 12:00am
Military operation caused $100 million damage: Afghan officials

Military operation caused $100 million damage: Afghan officials

A major coalition military operation in a volatile southern Afghan province has caused about 100 million dollars worth of damage to property, a government delegation said Tuesday. President Hamid Karzai dispatched the delegation, led by one of his adviser
Published 12 Jan, 2011 12:00am
ICC to give verdict on Pakistan trio on February 5

ICC to give verdict on Pakistan trio on February 5

The International Cricket Council (ICC) tribunal will give its verdict on the three Pakistan players accused of spot-fixing on February 5, tribunal chairman Michael Beloff said on Tuesday. Former Test captain Salman Butt and fast bowlers Mohammad Amir and
Published 12 Jan, 2011 12:00am
Australia recall Lee, Tait for ODI opener

Australia recall Lee, Tait for ODI opener

Pacemen Brett Lee and Shaun Tait were Tuesday named in Australia's squad for the opening match of a seven-game one-day international series against England, raising their hopes of a World Cup berth. Lee and Tait, who are both returning from injuries, were
Published 12 Jan, 2011 12:00am
North Korea and UAE draw 0-0

North Korea and UAE draw 0-0

North Korea and United Arab Emirates produced the first 0-0 draw of the Asian Cup on Tuesday after the Koreans missed a first-half penalty in an evenly-matched Group D match at the Qatar Sports Club Stadium. The Koreans squandered the chance to take an ea
Published 12 Jan, 2011 12:00am
Messi wins World Player of Year award again

Messi wins World Player of Year award again

Argentina's Lionel Messi was named World Player of the Year for the second time in a row on Monday, surprisingly beating his Barcelona team mates Andres Iniesta and Xavi. Iniesta and Xavi had been favourites after helping Spain win the World Cup last year
Published 12 Jan, 2011 12:00am
Europe's clubs rack up record losses: UEFA

Europe's clubs rack up record losses: UEFA

More than half of Europe's top football clubs are still in the red, with a record 1.2 billion euro losses about a year before UEFA's new financial rules kick in, officials said Tuesday. "Two years ago almost 70 percent of clubs were in the red," said Gian
Published 12 Jan, 2011 12:00am
Wozniacki, Zvonareva fail in Sydney

Wozniacki, Zvonareva fail in Sydney

Top-ranked Caroline Wozniacki and Vera Zvonareva crashed out of the Sydney International on Tuesday, leaving them short of vital match practice ahead of next week's Australian Open. Denmark's world number one Wozniacki was knocked out by Slovakia's 32nd-r
Published 12 Jan, 2011 12:00am
2010-2011: AAML approves second quarter pay-outs

2010-2011: AAML approves second quarter pay-outs

The Board of Directors of Atlas Asset Management Limited (AAML), an Atlas Group Company in their meeting held on January 11, 2011, approved second quarter pay-outs (ended December 31, 2010) for its Atlas Money Market Fund (AMF), Atlas Income Fund (AIF) an
Published 12 Jan, 2011 12:00am
2010-2011: AAML approves second quarter pay-outs

2010-2011: AAML approves second quarter pay-outs

The Board of Directors of Atlas Asset Management Limited (AAML), an Atlas Group Company in their meeting held on January 11, 2011, approved second quarter pay-outs (ended December 31, 2010) for its Atlas Money Market Fund (AMF), Atlas Income Fund (AIF) an
Published 12 Jan, 2011 12:00am
Sanjrani made coordinator of Prime Minister's Grievances Wing

Sanjrani made coordinator of Prime Minister's Grievances Wing

Mohammad Sadiq Sanjrani has been appointed as the Chief Coordinator of the Prime Minister's Grievances Wing. The Prime Minister's Grievances Wing has been de-linked from the Prime Minister's Inspection Commission and it will henceforth function under the
Published 12 Jan, 2011 12:00am
PSO clarification

PSO clarification

Apropos news item titled "PSO approaches NICL for insurance cover imports" appearing in Business Recorder January 11, 2011, Pakistan State Oil (PSO) is always keen to strengthen company's controls and security system upto global best practices, how
Published 12 Jan, 2011 12:00am
Sri Lankan parliamentarians meet Wasim Sajjad

Sri Lankan parliamentarians meet Wasim Sajjad

Leader of the Opposition in the Senate Wasim Sajjad during a meeting with six members Sri Lankan Parliamentary Delegation led by Chamal Rajapaksa, Speaker of the Sri Lankan Parliament observed that Pakistan is proud of its relationship with Sri Lanka and
Published 12 Jan, 2011 12:00am
NCEL registers notable growth in 2010

NCEL registers notable growth in 2010

The National Commodity Exchange Limited (NCEL) has reflected remarkable growth this year with total traded volumes of approximately Rs 185 billion in 2010. The total volume last year was Rs 28 billion, which translates into an increase of 660 percent in t
Published 12 Jan, 2011 12:00am
Fine imposed on Samaa and Waqt TV

Fine imposed on Samaa and Waqt TV

Pakistan Electronic Media Regulatory Authority (PEMRA) has imposed fine on two Satellite TV channels, SAMAA and Waqt TV amounting to Rs 1 million each for projecting terrorists and airing "blood and gore" on their respective news channels.
Published 12 Jan, 2011 12:00am
Euro interbank rates underpinned by ECB liquidity

Euro interbank rates underpinned by ECB liquidity

Key euro-priced bank-to-bank borrowing costs are set to remain underpinned by ample liquidity even after European banks reduced their borrowing of one-week funds from the European Central Bank on Tuesday. Debt problems in the eurozone prompted the ECB to
Published 12 Jan, 2011 12:00am
Baht up, rupiah extends losses

Baht up, rupiah extends losses

The Thai baht rebounded against the dollar on Tuesday after the central bank said it expected steady foreign fund inflows, while the Indonesian rupiah extended its recent slide as investors took profits from a strong rally last year. Bank of Thailand Depu
Published 12 Jan, 2011 12:00am
Indian rupee strengthens

Indian rupee strengthens

The Indian rupee strengthened to its highest level in nearly a week on Tuesday as some custodian banks sold dollars, probably for investing in the increased foreign institutional debt limits, dealers said. The partially convertible rupee closed at 45.1625
Published 12 Jan, 2011 12:00am
Australian dollar tumbles

Australian dollar tumbles

The Australian dollar tumbled across the board on Tuesday as investors speculated that a sudden worsening of damaging floods in Queensland could crimp the economy and further put off any hike in interest rates. The Aussie plumbed to a four-week low of $0.
Published 12 Jan, 2011 12:00am
Swiss franc slows fall versus euro

Swiss franc slows fall versus euro

The Swiss franc on Tuesday slowed its fall against the euro after dipping sharply from near record highs the previous day, as investors look to euro bond auctions for clues on the eurozone's financial stability. The safe-haven franc, which rose about 16 p
Published 12 Jan, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 71.00/71.00 (previous 71.00/71.00). Call Money Rates: 15.00 percent (previous 10.00-15.00 percent).
Published 12 Jan, 2011 12:00am
Euro recovers versus dollar

Euro recovers versus dollar

The euro recovered from a four-month low against the dollar on Monday though gains are not expected to hold given resurgent concerns about indebted eurozone countries and talk that Portugal will need a bailout. The recovery in the euro, which fell below $
Published 12 Jan, 2011 12:00am
Midday trade in New York: Euro climbs versus dollar

Midday trade in New York: Euro climbs versus dollar

The euro rose on Tuesday on speculation eurozone officials could raise the effective lending capacity of the bloc's rescue fund and talk of increased Portuguese bond buying by the European Central Bank. The euro climbed near $1.30 in midday trading. Analy
Published 12 Jan, 2011 12:00am
Euro pares gains in London

Euro pares gains in London

The euro pared gains made on Tuesday as investors were sceptical a pledge by Japan to buy bonds planned by a European rescue fund would result in fresh buying in the single currency. Investors initially saw Tokyo's promise to buy the bonds as a show of su
Published 12 Jan, 2011 12:00am
Euro hovers off lows in Asia

Euro hovers off lows in Asia

The euro on Tuesday hovered above a four-month trough hit the previous day, after Japan said it may buy about a fifth of the bonds a European rescue fund plans to sell later this month to finance its bailout scheme for Ireland. But Finance Minister Yoshih
Published 12 Jan, 2011 12:00am
Sterling firm versus euro

Sterling firm versus euro

Sterling hovered close to a four-month high versus a struggling euro on Tuesday as sovereign funding worries plagued the single currency and the increasing prospect of higher interest rates in the UK supported the pound. The euro remained on the back foot
Published 12 Jan, 2011 12:00am
Yuan stays higher

Yuan stays higher

The yuan closed up versus the dollar on Tuesday as the People's Bank of China set a sharply higher mid-point, letting the currency resume appreciation ahead of President Hu Jintao's visit to the United States. The central bank let the mid-point, or its fi
Published 12 Jan, 2011 12:00am
Bangladesh stocks climb after free-fall prompts protests

Bangladesh stocks climb after free-fall prompts protests

Bangladesh shares ended sharply higher on Tuesday, a day after a steep plunge forced the bourse to suspend trading and sparked violent street protests by angry investors which were broken up by the police. The Dhaka Stock Exchange's benchmark General Inde
Published 12 Jan, 2011 12:00am
'Smooth' start for new Laos bourse

'Smooth' start for new Laos bourse

Communist Laos launched its first stock exchange on Tuesday, with securities officials reporting a smooth start to the latest step by the impoverished nation to spur development with free-market reforms. Turnover was higher than expected on the Lao Securi
Published 12 Jan, 2011 12:00am
European shares rise

European shares rise

European shares rose on Tuesday as a strong start to the US earnings season boosted optimism about upcoming company results, and reassuring comments from Portugal soothed nerves over the sovereign debt crisis. The pan-European FTSEurofirst 300 index of to
Published 12 Jan, 2011 12:00am
Banks drive FTSE higher

Banks drive FTSE higher

Banks, lifted by upbeat broker comment, helped hoist Britain's top share index back above the 6,000 level on Tuesday as investors shrugged off eurozone debt worries for the time being. The FTSE 100 index closed up 57.73 points, or 1 percent, at 6,014.03,
Published 12 Jan, 2011 12:00am
Hong Kong, Shanghai shares rise

Hong Kong, Shanghai shares rise

Shares in China and Hong Kong rose on Tuesday as North Asian markets outperformed the region, with optimism over strong economic growth and corporate earnings offsetting investors' concern over Europe's festering debt crisis. Energy shares also supported
Published 12 Jan, 2011 12:00am
Medium-term treasuries outperform

Medium-term treasuries outperform

Medium-term US Treasuries debt outperformed other US government maturities on Monday as dealers braced for new supply of short- and long-term debt. The US Treasury will sell $32 billion in three-year notes on Tuesday, $21 billion in re-opened 10-year note
Published 12 Jan, 2011 12:00am
Medium-term treasuries outperform

Medium-term treasuries outperform

Medium-term US Treasuries debt outperformed other US government maturities on Monday as dealers braced for new supply of short- and long-term debt. The US Treasury will sell $32 billion in three-year notes on Tuesday, $21 billion in re-opened 10-year note
Published 12 Jan, 2011 12:00am
Indian shares stay lower

Indian shares stay lower

Indian shares fell for the sixth session in a row on Tuesday, their longest losing run in a year, as rate rise concerns continued to rattle investors, who were also sceptical of quarterly earnings that begin this week. Feeble attempts to pull out of the s
Published 12 Jan, 2011 12:00am
Wall Street dips

Wall Street dips

US stocks recovered most of their early losses in light volume and ended slightly lower on Monday as prospects for strong earnings helped counter fears Portugal would be forced into a bailout. Investors say the market's upward trend remains intact, but th
Published 12 Jan, 2011 12:00am
Tuesday's midday trade: Homebuilders boost Wall Street

Tuesday's midday trade: Homebuilders boost Wall Street

US stocks rose on Tuesday after several fourth-quarter earnings reports and outlooks came in higher than expected, putting the S&P 500 index on course to snap three straight sessions of declines. Homebuilder Lennar Corp surged 9.3 percent to $20.65 after
Published 12 Jan, 2011 12:00am
Nikkei average lower

Nikkei average lower

The Nikkei average edged lower on Tuesday, backing away from an eight-month high hit at the end of last week, as worries over the eurozone's debt problems prompted some investors to lock in profits on recent gainers. Japan's announcement that it planned t
Published 12 Jan, 2011 12:00am
Most Southeast Asian markets fall

Most Southeast Asian markets fall

Most Southeast Asian stock markets fell on Tuesday as heavyweight banks came under selling pressure and concern about European debt problems fuelled more foreign outflows. The pull-back, in falling volume, lopped another 0.7 percent off Indonesia's stock
Published 12 Jan, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul shares ended up nearly 0.4 percent on Tuesday, helped by a bounce in crude refiners and shipyards, but the index was weighed down by investor worries about government debt burdens in Europe. The Korea Composite Stock Price Index (KOSPI) ended up 0.3
Published 12 Jan, 2011 12:00am
Nunavut, ArcelorMittal extend bids for Baffinland

Nunavut, ArcelorMittal extend bids for Baffinland

The winner of the battle for control of Baffinland Iron Mines may not be known for days after Nunavut Iron Ore and ArcelorMittal on Monday extended the deadlines on their competing bids. The two companies have been caught up in a bidding war for Baffinlan
Published 12 Jan, 2011 12:00am
EU eyes easing lending, Portugal resists bailout

EU eyes easing lending, Portugal resists bailout

European finance ministers will discuss increasing the effective lending capacity of their financial rescue fund next week, EU sources said on Tuesday, as Portugal defied pressure to seek a bailout. Japan, following in the footsteps of China, promised to
Published 12 Jan, 2011 12:00am
Sri Lanka tourist arrivals hit record high in 2010

Sri Lanka tourist arrivals hit record high in 2010

Sri Lanka's 2010 tourist arrivals rose 46 percent year-on-year as the Indian Ocean island's post-war travel boom gathered speed, with December arrivals setting a new monthly record, data released on Tuesday showed. There were 654,476 arrivals in 2010, whi
Published 12 Jan, 2011 12:00am
US spill panel calls for offshore drilling reform

US spill panel calls for offshore drilling reform

Blaming the massive BP oil spill on government and industry complacency, a White House panel on Tuesday called for a dramatic overhaul of the way the US regulates offshore drilling. The White House oil spill commission, in its final report of the BP drill
Published 12 Jan, 2011 12:00am
South Korea joins global action to boost food supply

South Korea joins global action to boost food supply

South Korea unveiled steps on Tuesday to combat the threat of rising food prices, joining a flurry of activity as policymakers grow increasingly worried that inflation could derail a global recovery. Central bankers meeting under the auspices of the Bank
Published 12 Jan, 2011 12:00am
UK's RBS bank fined over complaints handling

UK's RBS bank fined over complaints handling

Britain's financial watchdog fined Royal Bank of Scotland and its NatWest division 2.8 million pounds ($4.36 million) on Tuesday for poor handling of customer complaints. The Financial Services Authority said its investigation found an unacceptably high r
Published 12 Jan, 2011 12:00am
Turkmenistan replaces gas company head

Turkmenistan replaces gas company head

Turkmenistan's leader has replaced the head of the state-run gas company, who held the job for only three months, after the Central Asian state fell short of its 2010 output target, state television reported on Tuesday. President Kurbanguly Berdymukhamedo
Published 12 Jan, 2011 12:00am
India's car sales jump 29 percent in December

India's car sales jump 29 percent in December

Car sales in India jumped nearly 29 percent in December from a year earlier, industry data showed Tuesday, as customers piled into showrooms heartened by the country's booming economy. Sales last month climbed to 148,681 cars from 115,337 a year earlier,
Published 12 Jan, 2011 12:00am
China's foreign exchange reserves hit record

China's foreign exchange reserves hit record

China said Tuesday its foreign exchange reserves hit a record high at the end of 2010, which is likely to fuel calls for a stronger yuan when President Hu Jintao visits Washington next week. The increase in the forex holdings, already the world's largest,
Published 12 Jan, 2011 12:00am
US job openings edged down

US job openings edged down

US job openings edged lower in November from the prior month, government data showed on Tuesday, while the job openings rate also slipped. Job openings, a measure of labour demand, fell 80,000 to a seasonally adjusted 3.25 million, the Labour Department s
Published 12 Jan, 2011 12:00am
JAL, American Airlines to begin joint business in April

JAL, American Airlines to begin joint business in April

Japan Airlines (JAL) and its partner American Airlines said Tuesday they would start their revenue-sharing joint business on trans-Pacific flights in April. The venture includes the alignment of their 2011 summer schedules effective from March 27, expande
Published 12 Jan, 2011 12:00am
China denies link to Renault spy scandal

China denies link to Renault spy scandal

China denied any link to the industrial espionage scandal at French carmaker Renault, dismissing reports of its possible involvement as "baseless". A French government source said last week a possible Chinese connection was being explored but had not been
Published 12 Jan, 2011 12:00am
Surveys paint bleak picture for British economy

Surveys paint bleak picture for British economy

British economic growth likely slowed sharply around the turn of the year and retail sales fell in the crucial Christmas trading month of December, according to two surveys published on Tuesday. The surveys make grim reading in what British Prime Minister
Published 12 Jan, 2011 12:00am
High prices cause sluggish business on grain market

High prices cause sluggish business on grain market

Subdued business was again witnessed on the wholesales grain and seed market on Tuesday as most of buyers were reluctant in making any deal at the higher rates, dealers said. On the cereal side makai low type maintained its overnight level at Rs 2625 whil
Published 12 Jan, 2011 12:00am
Bangladeshi tea prices fall

Bangladeshi tea prices fall

The average price of Bangladeshi teas fell a fraction to 195.43 taka ($2.75) per kg on poor quality at the weekly auction on Tuesday, brokers said. Some 1.31 million kg were sold, leaving 21.40 percent of the offer to be carried back. Bangladeshi buyers,
Published 12 Jan, 2011 12:00am
Ivorian cocoa arrivals slightly lower

Ivorian cocoa arrivals slightly lower

Cocoa arrivals to ports in top grower Ivory Coast are slightly lower than at the same time last season after a bout of unrest last week and temporary lags in the cycle of the season, exporters said on Monday. Arrivals to port have broadly kept pace with l
Published 12 Jan, 2011 12:00am
Prices stay put; volume picks up on cotton market

Prices stay put; volume picks up on cotton market

Firmness prevailed on the cotton market on Tuesday though ginners did not lower the asking prices due to short crop, dealers said. The Karachi Cotton Association (KCA) spot rate was unchanged at Rs 9800, they said. Seed cotton prices in Sindh and Punjab w
Published 12 Jan, 2011 12:00am
Oil cake market rates

Oil cake market rates

Rates moved both ways on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The January vaida that had closed at Rs 1249.80 opened with a modest gain 60 paisa Rs 1250.40. The March vaida which ended at dismal note at Rs
Published 12 Jan, 2011 12:00am
US Midwest corn, soya bids steady amid light sales

US Midwest corn, soya bids steady amid light sales

Spot basis bids for corn and soyabeans held mostly steady around the US Midwest on Monday as futures rallied and farmers sold small portions of both commodities, grain merchants said. Dealers noted the first modest bump of sales in several days as corn fu
Published 12 Jan, 2011 12:00am
US corn, soya extend gains; Argentine weather supports

US corn, soya extend gains; Argentine weather supports

US corn futures rose around 1 percent and soyabean half a percent on Tuesday, extending gains as concerns over dry weather hurting crops in Argentina continued to support the market. Wheat rose 1 percent on strong global demand for US cargoes, including t
Published 12 Jan, 2011 12:00am
High rapeseed price could cut fuel blends: Oil World

High rapeseed price could cut fuel blends: Oil World

Rapeseed prices have now reached such high levels that demand for rapeseed oil-based biodiesel for blending with fossil fuels could be cut in coming months, Hamburg-based oilseeds analysts Oil World forecast on Tuesday. Oil companies are compelled to blen
Published 12 Jan, 2011 12:00am
Brazil's soyabean crop developing well: Oil World

Brazil's soyabean crop developing well: Oil World

The outlook for Brazil's 2011 soyabean harvest remains positive despite concerns about weather damage to crops in other South American countries, Hamburg-based oilseeds analysts Oil World forecast on Tuesday. Oil World has slightly raised its forecast of
Published 12 Jan, 2011 12:00am
Indonesia sees 2011 palm oil output at 22 million tonnes

Indonesia sees 2011 palm oil output at 22 million tonnes

Indonesia expects crude palm oil output to increase by a marginal 1 million tonnes to 22 million this year, an official at the Indonesian Palm Oil Association said on Tuesday. An unusually long rainy season has wreaked havoc on most of the country's plant
Published 12 Jan, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 159,814 tonnes of cargo including 125,938 tonnes of import cargo, 33,876 tonnes of export cargo, 5,609 loaded and empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 125,938 tonnes compr
Published 12 Jan, 2011 12:00am
Bank Al Habib declares PLS profit rates

Bank Al Habib declares PLS profit rates

Bank Al Habib Limited has declared the following profit rates on PLS deposits for the period of six months from July 1, 2010 to December 31, 2010.

Published 12 Jan, 2011 12:00am
Bank Al Habib declares PLS profit rates

Bank Al Habib declares PLS profit rates

Bank Al Habib Limited has declared the following profit rates on PLS deposits for the period of six months from July 1, 2010 to December 31, 2010.

Published 12 Jan, 2011 12:00am
New York cotton

New York cotton

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

Published 12 Jan, 2011 12:00am
New York cotton

New York cotton

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

Published 12 Jan, 2011 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 12 Jan, 2011 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 12 Jan, 2011 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 (January 11, 2011).

Published 12 Jan, 2011 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 (January 11, 2011).

Published 12 Jan, 2011 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 (January 11, 2011).

Published 12 Jan, 2011 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 (January 11, 2011).

Published 12 Jan, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (January 11, 2011).
Published 12 Jan, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (January 11, 2011).

Published 12 Jan, 2011 12:00am
Khosa appointed Governor

Khosa appointed Governor

Another round of speculations came to an end on Tuesday when President Asif Ali Zardari issued a notification appointing a PPP stalwart and former Attorney General Sardar Latif Khan Khosa as Governor of Punjab. As Governor of Punjab, Sardar Latif Khosa wo
Published 12 Jan, 2011 12:00am
Khosa appointed Governor

Khosa appointed Governor

Another round of speculations came to an end on Tuesday when President Asif Ali Zardari issued a notification appointing a PPP stalwart and former Attorney General Sardar Latif Khan Khosa as Governor of Punjab. As Governor of Punjab, Sardar Latif Khosa wo
Published 12 Jan, 2011 12:00am
Budgetary support: Japan giving $60 million soft loan

Budgetary support: Japan giving $60 million soft loan

Japan has queued up to help Pakistan to plug in widening budgetary gap by granting it $60 million soft loan in response to Islamabad's call to the friendly countries for financial support to keep current budget deficit at some reasonable level.
Published 12 Jan, 2011 12:00am
Budgetary support: Japan giving $60 million soft loan

Budgetary support: Japan giving $60 million soft loan

Japan has queued up to help Pakistan to plug in widening budgetary gap by granting it $60 million soft loan in response to Islamabad's call to the friendly countries for financial support to keep current budget deficit at some reasonable level.
Published 12 Jan, 2011 12:00am
Budgetary support: Japan giving $60 million soft loan

Budgetary support: Japan giving $60 million soft loan

Japan has queued up to help Pakistan to plug in widening budgetary gap by granting it $60 million soft loan in response to Islamabad''s call to the friendly countries for financial support to keep current budget deficit at some reasonable level.
Published 12 Jan, 2011 12:00am
CPI inflation up 15.68 percent in December

CPI inflation up 15.68 percent in December

The CPI inflation soared by 15.68 percent in December 2010 over the same period of last year with phenomenal increase in perishable food items, showing a strong trend of increase in prices of food items which may push more people below the poverty line.
Published 12 Jan, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (January 11, 2011).

Published 12 Jan, 2011 12:00am
CPI inflation up 15.68 percent in December

CPI inflation up 15.68 percent in December

The CPI inflation soared by 15.68 percent in December 2010 over the same period of last year with phenomenal increase in perishable food items, showing a strong trend of increase in prices of food items which may push more people below the poverty line.
Published 12 Jan, 2011 12:00am
CPI inflation up 15.68 percent in December

CPI inflation up 15.68 percent in December

The CPI inflation soared by 15.68 percent in December 2010 over the same period of last year with phenomenal increase in perishable food items, showing a strong trend of increase in prices of food items which may push more people below the poverty line.
Published 12 Jan, 2011 12:00am
Haj scam probe: Supreme Court tells government to remove FIA DG

Haj scam probe: Supreme Court tells government to remove FIA DG

Expressing dissatisfaction over the Haj scam probe, the Supreme Court on Tuesday directed the government to remove Federal Investigation Agency (FIA) director-general Waseem Ahmed in three days, as he is unable to handle the investigation independently.
Published 12 Jan, 2011 12:00am
Haj scam probe: Supreme Court tells government to remove FIA DG

Haj scam probe: Supreme Court tells government to remove FIA DG

Expressing dissatisfaction over the Haj scam probe, the Supreme Court on Tuesday directed the government to remove Federal Investigation Agency (FIA) director-general Waseem Ahmed in three days, as he is unable to handle the investigation independently.
Published 12 Jan, 2011 12:00am
Monetary policy on January 29

Monetary policy on January 29

Central bank will announce on January 29 its monetary policy for the subsequent two months, Syed Wasimuddin, chief spokesman for the State Bank of Pakistan, said on Tuesday. In the last monetary policy review in November, the central bank raised its key d
Published 12 Jan, 2011 12:00am
Monetary policy on January 29

Monetary policy on January 29

Central bank will announce on January 29 its monetary policy for the subsequent two months, Syed Wasimuddin, chief spokesman for the State Bank of Pakistan, said on Tuesday. In the last monetary policy review in November, the central bank raised its key d
Published 12 Jan, 2011 12:00am
Monetary policy on January 29

Monetary policy on January 29

Central bank will announce on January 29 its monetary policy for the subsequent two months, Syed Wasimuddin, chief spokesman for the State Bank of Pakistan, said on Tuesday. In the last monetary policy review in November, the central bank raised its key d
Published 12 Jan, 2011 12:00am
TCP sugar buyers seek tax waiver

TCP sugar buyers seek tax waiver

The private sector has sought tax waiver on purchase of imported sugar from Trading Corporation of Pakistan, and some bidders have moved court for tax relief. Sources told Business Recorder on Tuesday that private sector is reluctant to lift the au
Published 12 Jan, 2011 12:00am
TCP sugar buyers seek tax waiver

TCP sugar buyers seek tax waiver

The private sector has sought tax waiver on purchase of imported sugar from Trading Corporation of Pakistan, and some bidders have moved court for tax relief. Sources told Business Recorder on Tuesday that private sector is reluctant to lift the au
Published 12 Jan, 2011 12:00am
TCP sugar buyers seek tax waiver

TCP sugar buyers seek tax waiver

The private sector has sought tax waiver on purchase of imported sugar from Trading Corporation of Pakistan, and some bidders have moved court for tax relief. Sources told Business Recorder on Tuesday that private sector is reluctant to lift the au
Published 12 Jan, 2011 12:00am
Fiscal policy, taxation issues: Board to be set up

Fiscal policy, taxation issues: Board to be set up

The Ministry of Finance has agreed with the proposal of the Tax Reform Co-ordination Group (TRCG) to create a Fiscal Policy Board to be headed by the Finance Minister under the reform plan to exclusively deal with the fiscal policy and taxation issues und
Published 12 Jan, 2011 12:00am
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