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Archive - 2011-01-15
Gul strikes early for Pakistan
Sports

Gul strikes early for Pakistan

WELLINGTON: Umar Gul struck twice for Pakistan to leave New Zealand at 80 for two at lunch in blustery conditions on the
Published 15 Jan, 2011 07:55am
Sanofi hopes to win Genzyme for $76 per share

Sanofi hopes to win Genzyme for $76 per share

French drugmaker Sanofi-Aventis hopes to reach a take-over deal that would value US target Genzyme at around $76 per share, or some $20 billion, the French daily newspaper Le Figaro said on Friday. The total figure would include a cash component of $70 to
Published 15 Jan, 2011 12:00am
Sanofi hopes to win Genzyme for $76 per share

Sanofi hopes to win Genzyme for $76 per share

French drugmaker Sanofi-Aventis hopes to reach a take-over deal that would value US target Genzyme at around $76 per share, or some $20 billion, the French daily newspaper Le Figaro said on Friday. The total figure would include a cash component of $70 to
Published 15 Jan, 2011 12:00am
Vimpelcom, Etisalat M&A ambitions under pressure

Vimpelcom, Etisalat M&A ambitions under pressure

Two key emerging markets telecoms deals worth a combined $18.6 billion were hanging in the balance on Friday as weekend deadlines loomed for both. Abu Dhabi's Etisalat, the Gulf's No 2 telecoms group, will decide on Saturday whether to proceed with its $1
Published 15 Jan, 2011 12:00am
Japan's Daikin eyes Goodman Global; deal could cost $4 billion

Japan's Daikin eyes Goodman Global; deal could cost $4 billion

Japanese air-conditioner maker Daikin Industries is considering buying US rival Goodman Global among other acquisition targets, the company's CEO said, in what could be a $4 billion deal. San Francisco-based private equity firm Hellman & Friedman has put
Published 15 Jan, 2011 12:00am
UK's top share index slips

UK's top share index slips

Commodity stocks and banks pulled Britain's FTSE 100 share index lower by the close on Friday, as a move by China to further tighten monetary policy prompted renewed concerns on the sustainability of the global economic recovery. The FTSE 100 ended down 2
Published 15 Jan, 2011 12:00am
Australia shares at 8-1/2 month high

Australia shares at 8-1/2 month high

Australian stocks nudged up 0.1 percent on Friday, to its highest close in 8-1/2 months, led by gains in banks. The index also edged above a key chart resistance level of 4,800 points while snapping a two-week losing streak. It gained 2 percent for the we
Published 15 Jan, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul shares rose 0.9 percent on Friday buoyed by firm gains in financials and auto issues including Hana Financial Group and Hyundai Motor, but losses in crude oil refiners such as SK Energy weighed. The Korea Composite Stock Price Index ended up 0.89 pe
Published 15 Jan, 2011 12:00am
Indian shares post worst weekly loss since May

Indian shares post worst weekly loss since May

Indian shares posted their worst weekly loss in eight months tumbling to four-month closing lows in volatile trade on Friday, after accelerating monthly inflation cemented rate hike fears, sending financials lower. Wholesale price index, India's main infl
Published 15 Jan, 2011 12:00am
European shares lower

European shares lower

European shares ended lower on Friday after a fresh tightening in Chinese monetary policy hit investor risk appetite, although more positive US economic and earnings data had helped pare losses by the close. The FTSEurofirst 300 index ended down 0.1 perce
Published 15 Jan, 2011 12:00am
Shanghai shares slips, Hong Kong up

Shanghai shares slips, Hong Kong up

Chinese shares slipped on Friday as talk of interest rate increases over the weekend and further policy tightening kept investors on the back foot. Speculation about monetary policy moves often emerges on Fridays as the central bank tends to announce its
Published 15 Jan, 2011 12:00am
Treasuries rise

Treasuries rise

Treasuries prices rose on Thursday, boosted by purchases of US government debt by the Federal Reserve and the end of this week's Treasury auctions. The Fed bought $8.41 billion in notes due 2016 and 2017 as part of its $600 billion bond-purchase program d
Published 15 Jan, 2011 12:00am
Treasuries rise

Treasuries rise

Treasuries prices rose on Thursday, boosted by purchases of US government debt by the Federal Reserve and the end of this week's Treasury auctions. The Fed bought $8.41 billion in notes due 2016 and 2017 as part of its $600 billion bond-purchase program d
Published 15 Jan, 2011 12:00am
Taiwan stocks flat

Taiwan stocks flat

Taiwan stocks closed flat on Friday, as investors took profits from financials, offsetting gains in traditional sectors like textiles. Fund managers said the market has also started to factor in expected slower growth in the local economy in the first qua
Published 15 Jan, 2011 12:00am
Wall Street lower

Wall Street lower

US stocks edged lower on Thursday, hurt by a slide in drugmaker Merck and as falling commodities prices hit shares of natural resource companies. The S&P 500, however, held near 28-month highs as investors saw stocks' upward trend continuing, focusing on
Published 15 Jan, 2011 12:00am
Friday's midday trade: markets up

Friday's midday trade: markets up

Optimism about corporate earnings, bolstered by J.P. Morgan Chase & Co, lifted the stock market slightly on Friday, offsetting lukewarm economic data and putting the S&P 500 on track for a seventh straight week of gains. The S&P Midcap 400 index surpassed
Published 15 Jan, 2011 12:00am
Nikkei average drops

Nikkei average drops

Japan's Nikkei stock average fell 0.9 percent and away from 8-month highs on Friday, after a surprisingly weak settlement of options for January and a stronger yen against the dollar triggered profit-taking. The Nikkei's decline ran counter to early expec
Published 15 Jan, 2011 12:00am
Major South East Asian stocks down

Major South East Asian stocks down

Major Southeast Asian bourses ended lower on Friday, with investors quickly cashing in gains in heavyweight financial stocks, and foreign money continued to flow out of the Philippines, Indonesia and Thailand this week. However, a late rebound brought Ind
Published 15 Jan, 2011 12:00am
Rates continue upward march on cotton market

Rates continue upward march on cotton market

Prices maintained a surge on the cotton market on Friday as needy mills and spinners continued buying to keep the wheels moving to compete the challenges of the world, dealers said. The Karachi Cotton Association (KCA) spot rate was unchanged at Rs 9,900,
Published 15 Jan, 2011 12:00am
First Women Bank declares PLS profit rates

First Women Bank declares PLS profit rates

The First Women Bank Limited has declared the profit rates on PLS deposits for the period of six months from 01 July 2010 to 31 December 2010.

Published 15 Jan, 2011 12:00am
First Women Bank declares PLS profit rates

First Women Bank declares PLS profit rates

The First Women Bank Limited has declared the profit rates on PLS deposits for the period of six months from 01 July 2010 to 31 December 2010.

Published 15 Jan, 2011 12:00am
Faysal bank declares PLS profit rates

Faysal bank declares PLS profit rates

The Faysal bank limited has declared the profit rates on PLS deposits for the period of six months from 01 July 2010 to 31 December 2010.

Published 15 Jan, 2011 12:00am
Faysal bank declares PLS profit rates

Faysal bank declares PLS profit rates

The Faysal bank limited has declared the profit rates on PLS deposits for the period of six months from 01 July 2010 to 31 December 2010.

Published 15 Jan, 2011 12:00am
Cameroon cocoa exports hit 101,028 tonnes

Cameroon cocoa exports hit 101,028 tonnes

Cocoa exports from Cameroon's Douala port reached 101,028 tonnes by January 9 since the start of the season in August, according to official statistics from the port on Thursday. The statistics from the world's No 5 producer showed 3,640 tonnes were expor
Published 15 Jan, 2011 12:00am
Brazil's cocoa arrivals slump

Brazil's cocoa arrivals slump

Arrivals of cocoa from Bahia, Brazil's top producing state, slumped last week as a surprisingly large main crop starts to peter out, data from the Bahia Commercial Association showed on Wednesday. Arrivals from Bahia in the week to January 9 fell to 28,41
Published 15 Jan, 2011 12:00am
Chemical items mixed on Jodia Bazar

Chemical items mixed on Jodia Bazar

The trading in chemical items closed mixed on Jodia Bazar here on Friday. The following variations were noted.
Published 15 Jan, 2011 12:00am
Rates unchanged on grain market

Rates unchanged on grain market

Prices of all commodities were unchanged on the wholesale grain and seed market on Friday as leading participants were busy in preparations for Juma prayers, grain and seed merchant group's release said.
Published 15 Jan, 2011 12:00am
US Midwest corn and soya bids steady to lower

US Midwest corn and soya bids steady to lower

Spot basis bids for corn and soyabeans were steady to lower around the US Midwest on Thursday, pressured by a modest bounce in farmer sales of both commodities, grain merchants said. The sales were fewer than those seen on Wednesday and farmers sold more
Published 15 Jan, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 99,966 tonnes of cargo including 50,628 tonnes of import cargo, 49,338 tonnes of export cargo, 2,935 loaded and empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 50,628 tonnes comprised
Published 15 Jan, 2011 12:00am
US wheat futures down on lower exports

US wheat futures down on lower exports

US wheat futures fell on Friday with a stronger euro and weakness in Chicago contracts, hit by lower-than-expected US export data, driving European futures down after previous sessions' gains. Chicago soybeans and corn retreated after this week's strong g
Published 15 Jan, 2011 12:00am
China raises reserve requirements by 50 basis points

China raises reserve requirements by 50 basis points

China's central bank raised lenders' required reserves on Friday for the fourth time in just over two months, stepping up the fight against inflation that it has vowed will be a top priority for the year. By forcing banks to lock up more cash with the cen
Published 15 Jan, 2011 12:00am
World Bank unveils $1.73 billion loans to India

World Bank unveils $1.73 billion loans to India

The World Bank on Friday announced $1.73 billion in loans to India, including $1.5 billion to fund a state project to build 24,000 kilometres (14,880 miles) of rural roads across seven states. The global lending agency also provided $255 million to the fi
Published 15 Jan, 2011 12:00am
Singapore imposes new curbs on property speculation

Singapore imposes new curbs on property speculation

Singapore on Friday imposed fresh measures to curb property speculation after its economy grew the fastest in Asia last year. The government said the city-state's property market remains hot despite previous measures to cool it down, and additional curbs
Published 15 Jan, 2011 12:00am
FAO unveils new guidelines on fishing discards

FAO unveils new guidelines on fishing discards

The UN Food and Agriculture Organisation on Friday unveiled new guidelines aimed at reducing fishing discards that threaten in the long-term many fisheries and the livelihood of millions of fishermen. The guidelines cover all types of bycatch including di
Published 15 Jan, 2011 12:00am
JP Morgan profit rises

JP Morgan profit rises

J.P. Morgan Chase & Co reported higher-than-expected quarterly earnings, helped by narrowing losses on bad loans that allowed it to release $2 billion of reserves. The results show that J.P. Morgan, the first of the major US banks to report, is benefiting
Published 15 Jan, 2011 12:00am
JP Morgan profit rises

JP Morgan profit rises

J.P. Morgan Chase & Co reported higher-than-expected quarterly earnings, helped by narrowing losses on bad loans that allowed it to release $2 billion of reserves. The results show that J.P. Morgan, the first of the major US banks to report, is benefiting
Published 15 Jan, 2011 12:00am
Eurozone inflation confirmed above ECB target

Eurozone inflation confirmed above ECB target

More expensive fuel and food were behind a spike in eurozone inflation to 2.2 percent year-on-year in December, data showed, and price growth is likely to stay above the ECB's target for a few months more. The EU's statistics office Eurostat said on Frida
Published 15 Jan, 2011 12:00am
Chinese Estates buys Goldman's European Headquarters

Chinese Estates buys Goldman's European Headquarters

Hong Kong-based property group Chinese Estates has bought a building in London which houses the European HQ of investment bank Goldman Sachs for 280 million pounds, an intermediary in the deal said Friday. The group run by billionaire Joseph Lau has purch
Published 15 Jan, 2011 12:00am
ArcelorMittal, Nunavut deal ends Baffinland war

ArcelorMittal, Nunavut deal ends Baffinland war

ArcelorMittal and Nunavut Iron Ore have agreed a joint offer for Canadian mining company Baffinland, ending a two-month bidding war, ArcelorMittal said in a statement on Friday. The offer by ArcelorMittal, the world's largest steel company, and private eq
Published 15 Jan, 2011 12:00am
US retail sales rise, inflation tame

US retail sales rise, inflation tame

Sales at US retailers rose slightly less than expected in December, while underlying inflation remained tame, suggesting the recovery was strengthening modestly with little price pressure building. Despite the small rise in retail sales in December, a key
Published 15 Jan, 2011 12:00am
UK's factory gate inflation highest since August

UK's factory gate inflation highest since August

British factory gate inflation rose in December to its highest annual rate since August, driven by a sharp rise in the price of crude oil and food that will add to the Bank of England's worries about inflationary pressures. Financial markets have increasi
Published 15 Jan, 2011 12:00am
US accuses man of threatening regulators

US accuses man of threatening regulators

Federal prosecutors unsealed a complaint on Friday accusing a New York man of threatening to kill 47 current and former officials at US regulatory agencies. The government said Vincent McCrudden of Long Island made the threat after the Commodity Futures T
Published 15 Jan, 2011 12:00am
Eurozone divided on anti-crisis plan before meeting

Eurozone divided on anti-crisis plan before meeting

Germany faced mounting pressure from its eurozone partners on Friday to boost a rescue fund for troubled member states after French Economy Minister Christine Lagarde said governments were considering expanding it.
Published 15 Jan, 2011 12:00am
Bank AL Habib Monthly Saver Account promotes saving habit

Bank AL Habib Monthly Saver Account promotes saving habit

Bank AL Habib Monthly Saver Account is geared up towards promoting the habit of saving. The Account offers monthly returns and no restriction to withdraw funds. The profit is calculated @ 8 percent p.a. on balances of Rs 100,000 and above and @ 5 percent
Published 15 Jan, 2011 12:00am
MCB AMC offers another value-added service to investors

MCB AMC offers another value-added service to investors

MCB AMC offers yet another value-added service to its investors. Unit holders of MCB-CMOP Growth Units are now eligible to receive financing from MCB Bank Limited. These units shall be treated as cash/near cash collateral. This facility is offered keepin
Published 15 Jan, 2011 12:00am
Education system: pitfalls & solutions

Education system: pitfalls & solutions

The process of evolution of education system in Pakistan is interesting but it has its significant pitfalls. The child's psychology is important in developmental stages where the role of school environment and teachers play a great part. Any emotional inj
Published 15 Jan, 2011 12:00am
KARACHI CHRONICLE: Pools of sanity amidst madness

KARACHI CHRONICLE: Pools of sanity amidst madness

'Don't talk about Taseer's assassination, the blasphemy law, the lawyers supporting Taseer's killer, the fanaticism of mullahs nor the murders on the streets of Karachi,' said an old 'uncle' I called on. That was a long list of don'ts from a person who lo
Published 15 Jan, 2011 12:00am
ART FACTS: Innovative ideas from Sindh

ART FACTS: Innovative ideas from Sindh

Once again the Canvas Art Gallery, Karachi has given an opportunity to four young, emerging artists who belong to the interior of Sindh to express themselves and receive encouragement and acclamation of the art lovers. The exhibition of paintings titled,
Published 15 Jan, 2011 12:00am
Car and I have been through thick & thin

Car and I have been through thick & thin

Yepee. When I'm mobile. Following on the ebullience promised by the Who in their so titled song, thought that all my problems would cease once I became the proud owner of an automobile, way back in the past. "I can go anywhere, where I chose, do anything,
Published 15 Jan, 2011 12:00am
Heart attacks & warm water

Heart attacks & warm water

The Chinese and Japanese drink hot tea with their meals, not cold water, maybe it is time we adopt their drinking habit while eating. It is very Harmful to have cold drink/water during a meal. because, the cold water will solidify the oily stuff that you
Published 15 Jan, 2011 12:00am
Young achievers

Young achievers

The bright, luminous morning of the year 2011 brings with it hopes and optimism for every one especially for young generation. We asked some outstanding young achievers about their future dreams and ambitions and last years performances. Let us first intr
Published 15 Jan, 2011 12:00am
BRIDGE NOTES: Truly remarkable

BRIDGE NOTES: Truly remarkable

Elimination plays in bridge are an important repertoire in a good bridge player's armoury. In practical terms it calls for a simple execution for it is easy to see that stripping the opponents from their convenient exit cards before throwing them in with
Published 15 Jan, 2011 12:00am
New York cotton

New York cotton

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

Published 15 Jan, 2011 12:00am
New York cotton

New York cotton

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

Published 15 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 15 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 15 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 Friday (January 14, 2011).

Published 15 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 Friday (January 14, 2011).

Published 15 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 Friday (January 14, 2011).

Published 15 Jan, 2011 12:00am
Economic challenges to be shared with leaders: Prime Minister

Economic challenges to be shared with leaders: Prime Minister

Prime Minister Yousuf Raza Gilani has said that the economic challenges of Pakistan would be shared with all political leadership of the Parliament to seek their proposals for resolving the financial difficulties of the country.
Published 15 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 Friday (January 14, 2011).

Published 15 Jan, 2011 12:00am
Economic challenges to be shared with leaders: Prime Minister

Economic challenges to be shared with leaders: Prime Minister

Prime Minister Yousuf Raza Gilani has said that the economic challenges of Pakistan would be shared with all political leadership of the Parliament to seek their proposals for resolving the financial difficulties of the country.
Published 15 Jan, 2011 12:00am
Economic challenges to be shared with leaders: Prime Minister

Economic challenges to be shared with leaders: Prime Minister

Prime Minister Yousuf Raza Gilani has said that the economic challenges of Pakistan would be shared with all political leadership of the Parliament to seek their proposals for resolving the financial difficulties of the country.
Published 15 Jan, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (January 14, 2011).
Published 15 Jan, 2011 12:00am
Index gains 74.1 points

Index gains 74.1 points

Bullish trend continued at Karachi share market on Friday on the back of both local and foreign investors' support on expectations of early launching of leverage product. The KSE-100 index surged by 74.10 points and closed at 12,533.54 points.
Published 15 Jan, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (January 14, 2011).

Published 15 Jan, 2011 12:00am
Index gains 74.1 points

Index gains 74.1 points

Bullish trend continued at Karachi share market on Friday on the back of both local and foreign investors' support on expectations of early launching of leverage product. The KSE-100 index surged by 74.10 points and closed at 12,533.54 points.
Published 15 Jan, 2011 12:00am
Index gains 74.1 points

Index gains 74.1 points

Bullish trend continued at Karachi share market on Friday on the back of both local and foreign investors'' support on expectations of early launching of leverage product. The KSE-100 index surged by 74.10 points and closed at 12,533.54 points.
Published 15 Jan, 2011 12:00am
BRIndex30 up 47.56 points

BRIndex30 up 47.56 points

On Friday, the BRIndex30 opened at 9,387.90 points and remained in green for most of the trading session. It touched the intra-day high of 9,457.16 points and low of 9,355.36 points, and closed at 9,435.46 points with a net positive change of 47.56 points
Published 15 Jan, 2011 12:00am
BRIndex30 up 47.56 points

BRIndex30 up 47.56 points

On Friday, the BRIndex30 opened at 9,387.90 points and remained in green for most of the trading session. It touched the intra-day high of 9,457.16 points and low of 9,355.36 points, and closed at 9,435.46 points with a net positive change of 47.56 points
Published 15 Jan, 2011 12:00am
Obama stresses US support

Obama stresses US support

Pre-sident Barack Obama stressed US support for Pakistan during a meeting with President Asif Ali Zardari on Friday and reiterated plans to visit Pakistan later this year, the White House said.
Published 15 Jan, 2011 12:00am
Obama stresses US support

Obama stresses US support

Pre-sident Barack Obama stressed US support for Pakistan during a meeting with President Asif Ali Zardari on Friday and reiterated plans to visit Pakistan later this year, the White House said.
Published 15 Jan, 2011 12:00am
US should join bid for Kashmir dispute resolution: Pakistani envoy

US should join bid for Kashmir dispute resolution: Pakistani envoy

The United States can play a key role in allaying Pakistan's fears about its neighbour, India, by getting involved in a solution to the Kashmir dispute, Pakistan's Ambassador to the United Nations in Geneva, Zamir Akram, said on Friday.
Published 15 Jan, 2011 12:00am
US should join bid for Kashmir dispute resolution: Pakistani envoy

US should join bid for Kashmir dispute resolution: Pakistani envoy

The United States can play a key role in allaying Pakistan's fears about its neighbour, India, by getting involved in a solution to the Kashmir dispute, Pakistan's Ambassador to the United Nations in Geneva, Zamir Akram, said on Friday.
Published 15 Jan, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (January 14, 2011).

Published 15 Jan, 2011 12:00am
Minhaj Burna dies

Minhaj Burna dies

One of the founders of Pakistan Federal Union of Journalists (PFUJ) and founder of All Pakistan Newspaper Employees Confederation (Apnec) Minhaj Burna passed away on Friday morning. He was 88. He is survived by daughter, Afshan. He was laid to rest at the
Published 15 Jan, 2011 12:00am
Minhaj Burna dies

Minhaj Burna dies

One of the founders of Pakistan Federal Union of Journalists (PFUJ) and founder of All Pakistan Newspaper Employees Confederation (Apnec) Minhaj Burna passed away on Friday morning. He was 88. He is survived by daughter, Afshan. He was laid to rest at the
Published 15 Jan, 2011 12:00am
Army will support me: Musharraf

Army will support me: Musharraf

Former President Pervez Musharraf has said that he firmly believes that country's army will support him once he returns to the country because he has served that institution for over 35 years.
Published 15 Jan, 2011 12:00am
Army will support me: Musharraf

Army will support me: Musharraf

Former President Pervez Musharraf has said that he firmly believes that country's army will support him once he returns to the country because he has served that institution for over 35 years.
Published 15 Jan, 2011 12:00am
Clean chit to Niazi: FIA comes under fire

Clean chit to Niazi: FIA comes under fire

Senate Standing Committee on Commerce on Friday admonished the Federal Investigation Agency (FIA) for reportedly giving a clean chit to the suspended Chairman National Insurance Company Limited (NICL), Ayaz Niazi who is allegedly involved in Rs 5 billion
Published 15 Jan, 2011 12:00am
Clean chit to Niazi: FIA comes under fire

Clean chit to Niazi: FIA comes under fire

Senate Standing Committee on Commerce on Friday admonished the Federal Investigation Agency (FIA) for reportedly giving a clean chit to the suspended Chairman National Insurance Company Limited (NICL), Ayaz Niazi who is allegedly involved in Rs 5 billion
Published 15 Jan, 2011 12:00am
Clean chit to Niazi: FIA comes under fire

Clean chit to Niazi: FIA comes under fire

Senate Standing Committee on Commerce on Friday admonished the Federal Investigation Agency (FIA) for reportedly giving a clean chit to the suspended Chairman National Insurance Company Limited (NICL), Ayaz Niazi who is allegedly involved in Rs 5 billion
Published 15 Jan, 2011 12:00am
15.4 percent drop in foreign investment

15.4 percent drop in foreign investment

Foreign investment in the country slumped by 15.4 percent during the first half of current fiscal year 2010-11 because of economic slowdown. "Although the net foreign investment is in negative position, yet it crossed $1 billion mark, which is an encourag
Published 15 Jan, 2011 12:00am
15.4 percent drop in foreign investment

15.4 percent drop in foreign investment

Foreign investment in the country slumped by 15.4 percent during the first half of current fiscal year 2010-11 because of economic slowdown. "Although the net foreign investment is in negative position, yet it crossed $1 billion mark, which is an encourag
Published 15 Jan, 2011 12:00am
15.4 percent drop in foreign investment

15.4 percent drop in foreign investment

Foreign investment in the country slumped by 15.4 percent during the first half of current fiscal year 2010-11 because of economic slowdown. "Although the net foreign investment is in negative position, yet it crossed $1 billion mark, which is an encourag
Published 15 Jan, 2011 12:00am
Tunisian president quits after 23 years in power

Tunisian president quits after 23 years in power

Tunisian President Zine El Abidine Ben Ali quit after 23 years in power Friday and fled the country, Prime Minister Mohammed Ghann-ouchi announced, saying he had taken over in the interim. Ghannouchi called on Tunisians to unite after weeks of protests an
Published 15 Jan, 2011 12:00am
Tunisian president quits after 23 years in power

Tunisian president quits after 23 years in power

Tunisian President Zine El Abidine Ben Ali quit after 23 years in power Friday and fled the country, Prime Minister Mohammed Ghann-ouchi announced, saying he had taken over in the interim. Ghannouchi called on Tunisians to unite after weeks of protests an
Published 15 Jan, 2011 12:00am
Equities move both ways on LSE

Equities move both ways on LSE

Mixed trend was observed on the Lahore Stock Exchange on Friday where equities moved both ways but ended in green zone because of the investors' interest in fertiliser sector and select blue chips. The LSE-25 index improved marginally by 5.92 points, endi
Published 15 Jan, 2011 12:00am
Equities move both ways on LSE

Equities move both ways on LSE

Mixed trend was observed on the Lahore Stock Exchange on Friday where equities moved both ways but ended in green zone because of the investors' interest in fertiliser sector and select blue chips. The LSE-25 index improved marginally by 5.92 points, endi
Published 15 Jan, 2011 12:00am
ISE index down 4.36 points

ISE index down 4.36 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 04.36 points as the ISE Ten Index moved from 3,103.90 to 3,099.54
Published 15 Jan, 2011 12:00am
ISE index down 4.36 points

ISE index down 4.36 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 04.36 points as the ISE Ten Index moved from 3,103.90 to 3,099.54
Published 15 Jan, 2011 12:00am
Import of fabric from Pakistan: Turkey increases customs duty

Import of fabric from Pakistan: Turkey increases customs duty

Turkish government has increased custom duty by 28 percent on the import of fabric from Pakistan and 30% on import of fabric from China. According to Federal Advisor on Textile Dr Mirza Ikhtiar Baig, the decision has been made on the pressure from the loc
Published 15 Jan, 2011 12:00am
Import of fabric from Pakistan: Turkey increases customs duty

Import of fabric from Pakistan: Turkey increases customs duty

Turkish government has increased custom duty by 28 percent on the import of fabric from Pakistan and 30% on import of fabric from China. According to Federal Advisor on Textile Dr Mirza Ikhtiar Baig, the decision has been made on the pressure from the loc
Published 15 Jan, 2011 12:00am
Import of fabric from Pakistan: Turkey increases customs duty

Import of fabric from Pakistan: Turkey increases customs duty

Turkish government has increased custom duty by 28 percent on the import of fabric from Pakistan and 30% on import of fabric from China. According to Federal Advisor on Textile Dr Mirza Ikhtiar Baig, the decision has been made on the pressure from the loc
Published 15 Jan, 2011 12:00am
Changes in PIA senior management positions

Changes in PIA senior management positions

Following transfers and postings have been made in PIA at Senior Management positions. PIA's Director Corporate Planning, Shahnawaz Rehman has also been given the Charge of Director HR Administration & Co-ordination upon retirement of Haneef Pathan who is
Published 15 Jan, 2011 12:00am
Changes in PIA senior management positions

Changes in PIA senior management positions

Following transfers and postings have been made in PIA at Senior Management positions. PIA's Director Corporate Planning, Shahnawaz Rehman has also been given the Charge of Director HR Administration & Co-ordination upon retirement of Haneef Pathan who is
Published 15 Jan, 2011 12:00am
Changes in PIA senior management positions

Changes in PIA senior management positions

Following transfers and postings have been made in PIA at Senior Management positions. PIA''s Director Corporate Planning, Shahnawaz Rehman has also been given the Charge of Director HR Administration & Co-ordination upon retirement of Haneef Pathan who i
Published 15 Jan, 2011 12:00am
Urea import alternatives: MoIP summary not considered by ECC

Urea import alternatives: MoIP summary not considered by ECC

The Economic Co-ordination Committee (ECC) of the Cabinet didn't consider a summary moved by the Ministry of Industries and Production proposing different options as alternatives to urea import, well informed sources told Business Recorder. The gov
Published 15 Jan, 2011 12:00am
Urea import alternatives: MoIP summary not considered by ECC

Urea import alternatives: MoIP summary not considered by ECC

The Economic Co-ordination Committee (ECC) of the Cabinet didn't consider a summary moved by the Ministry of Industries and Production proposing different options as alternatives to urea import, well informed sources told Business Recorder. The gov
Published 15 Jan, 2011 12:00am
Urea import alternatives: MoIP summary not considered by ECC

Urea import alternatives: MoIP summary not considered by ECC

The Economic Co-ordination Committee (ECC) of the Cabinet didn''t consider a summary moved by the Ministry of Industries and Production proposing different options as alternatives to urea import, well informed sources told Business Recorder. The go
Published 15 Jan, 2011 12:00am
Rs 107 billion PL, GST collected in July-December period

Rs 107 billion PL, GST collected in July-December period

The government has collected Rs 107 billion revenue on account of Petroleum Levy (PL) and general sales tax (GST) on petroleum products during first half (July-December) of ongoing financial year 2010-11. According to break-up, the government collected Rs
Published 15 Jan, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 15 Jan, 2011 12:00am
Rs 107 billion PL, GST collected in July-December period

Rs 107 billion PL, GST collected in July-December period

The government has collected Rs 107 billion revenue on account of Petroleum Levy (PL) and general sales tax (GST) on petroleum products during first half (July-December) of ongoing financial year 2010-11. According to break-up, the government collected Rs
Published 15 Jan, 2011 12:00am
Rs 107 billion PL, GST collected in July-December period

Rs 107 billion PL, GST collected in July-December period

The government has collected Rs 107 billion revenue on account of Petroleum Levy (PL) and general sales tax (GST) on petroleum products during first half (July-December) of ongoing financial year 2010-11. According to break-up, the government collected Rs
Published 15 Jan, 2011 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 15 Jan, 2011 12:00am
'Nuclear' candy turns out to be toxic

'Nuclear' candy turns out to be toxic

US authorities issued a recall Friday for a brand of Pakistan-made candy called Toxic Waste Nuclear Sludge Chew Bars because it turns out the sweets actually are toxic. Tests showed that the cherry flavouring in the chew bars contained extremely high leve
Published 15 Jan, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 15 Jan, 2011 12:00am
'Nuclear' candy turns out to be toxic

'Nuclear' candy turns out to be toxic

US authorities issued a recall Friday for a brand of Pakistan-made candy called Toxic Waste Nuclear Sludge Chew Bars because it turns out the sweets actually are toxic. Tests showed that the cherry flavouring in the chew bars contained extremely high leve
Published 15 Jan, 2011 12:00am
ICC hopes for return of Pakistan tours

ICC hopes for return of Pakistan tours

Pakistan needs to convince international teams that it is safe to resume tours to the country, an official of the sport's global governing body told reporters on Friday. Dave Richardson, the International Cricket Council's (ICC) general manager, said he h
Published 15 Jan, 2011 12:00am
ICC hopes for return of Pakistan tours

ICC hopes for return of Pakistan tours

Pakistan needs to convince international teams that it is safe to resume tours to the country, an official of the sport's global governing body told reporters on Friday. Dave Richardson, the International Cricket Council's (ICC) general manager, said he h
Published 15 Jan, 2011 12:00am
Gas pipeline, well blown up

Gas pipeline, well blown up

Rebels blew up a natural gas pipeline and a gas well in restive Balochistan on Friday, officials said, the latest in a wave of attacks in the mineral-rich province. "The 20-inch diameter pipeline was blown up early on Friday which connects 10 gas wells to
Published 15 Jan, 2011 12:00am
Gas pipeline, well blown up

Gas pipeline, well blown up

Rebels blew up a natural gas pipeline and a gas well in restive Balochistan on Friday, officials said, the latest in a wave of attacks in the mineral-rich province. "The 20-inch diameter pipeline was blown up early on Friday which connects 10 gas wells to
Published 15 Jan, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Friday (January 14, 2011).

Published 15 Jan, 2011 12:00am
India to cut IHK forces by 25 percent

India to cut IHK forces by 25 percent

India will reduce its security forces by a quarter in occupied Kashmir, where a two-decade insurgency has declined in intensity, the country's top home ministry official said on Friday. Speaking at a university seminar on Kashmir in the Indian capital, Ho
Published 15 Jan, 2011 12:00am
India to cut IHK forces by 25 percent

India to cut IHK forces by 25 percent

India will reduce its security forces by a quarter in occupied Kashmir, where a two-decade insurgency has declined in intensity, the country's top home ministry official said on Friday. Speaking at a university seminar on Kashmir in the Indian capital, Ho
Published 15 Jan, 2011 12:00am
KSE may introduce MTS from February

KSE may introduce MTS from February

After a gap of 21 months, Pakistan capital market is expected to have a new leverage product, namely 'Margin Trading System' (MTS) most likely from early next month. In the absence of any leverage support, market activity had touched its historic lows as
Published 15 Jan, 2011 12:00am
KSE may introduce MTS from February

KSE may introduce MTS from February

After a gap of 21 months, Pakistan capital market is expected to have a new leverage product, namely 'Margin Trading System' (MTS) most likely from early next month. In the absence of any leverage support, market activity had touched its historic lows as
Published 15 Jan, 2011 12:00am
THE RUPEE: euro sharply up

THE RUPEE: euro sharply up

The rupee was sharply lower against euro, while it showed mixed trend versus dollar on the currency market on Friday, dealers said. The rupee maintained its upward trend against dollar, rising 10 paisa for buying and selling at 85.56 and 85.60, they said.
Published 15 Jan, 2011 12:00am
KSE may introduce MTS from February

KSE may introduce MTS from February

After a gap of 21 months, Pakistan capital market is expected to have a new leverage product, namely ''Margin Trading System'' (MTS) most likely from early next month. In the absence of any leverage support, market activity had touched its historic lows a
Published 15 Jan, 2011 12:00am
THE RUPEE: euro sharply up

THE RUPEE: euro sharply up

The rupee was sharply lower against euro, while it showed mixed trend versus dollar on the currency market on Friday, dealers said. The rupee maintained its upward trend against dollar, rising 10 paisa for buying and selling at 85.56 and 85.60, they said.
Published 15 Jan, 2011 12:00am
'Khosa right person for the post of Punjab Governor'

'Khosa right person for the post of Punjab Governor'

Federal Minister for Women Development, Dr Firdous Ashiq Awan on Friday said the newly appointed Punjab Governor Sardar Latif Khan Khosa will play his role in curbing extremism and providing justice to common man. Talking to reporters during her visit to
Published 15 Jan, 2011 12:00am
PTCL data centre inaugurated in Lahore

PTCL data centre inaugurated in Lahore

Punjab Chief Minister, Mian Shahbaz Sharif inaugurated Pakistan Telecommunication Company Limited (PTCL) Data Centre in the provincial metropolis on Friday. Speaking at the inaugural ceremony, he appreciated PTCL for improving its services, mainly after i
Published 15 Jan, 2011 12:00am
France's help in overcoming energy crises sought

France's help in overcoming energy crises sought

Punjab Chief Minister, Muhammad Shahbaz Sharif has requested France to extend co-operation in overcoming the serious energy crisis, saying French companies and Punjab government can launch joint ventures for the purpose. He said Pakistan is facing serious
Published 15 Jan, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (January 14, 2011).

Published 15 Jan, 2011 12:00am
US urged to provide market access to woman entrepreneurs

US urged to provide market access to woman entrepreneurs

Advisor to Prime Minister on Women Development Yasmeen Rehman has urged the US authorities to provide market access to Pakistani women entrepreneurs to help ensure women empowerment besides strengthening economy of Pakistan. She said this while addressing
Published 15 Jan, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (January 14, 2011).

Published 15 Jan, 2011 12:00am
DAG Abid Saqi resigns

DAG Abid Saqi resigns

Deputy Attorney General, Abid Saqi has resigned from his office due to some personal reasons. An officer of Attorney General Office said that Saqi used to complain about poor salary packages and urged the authorities time and again to enhance salaries of
Published 15 Jan, 2011 12:00am
Fair distribution of gas among provinces urged

Fair distribution of gas among provinces urged

Inefficient load management by the gas company has damaged the export base of textile industry incurring loss of 80 million dollars in foreign exchange for the country, said Adil Manzoor Ellahi, Acting Chairman Pakistan Textile Exporters Association while
Published 15 Jan, 2011 12:00am
'Khosa may not be a good replacement of Taseer'

'Khosa may not be a good replacement of Taseer'

Pakistan Peoples Party's new Governor Punjab, Sardar Muhammad Latif Khosa can not fit in the shoes of late Salman Taseer as a strong man in Punjab and become a source of inspiration for helpless party workers. Taseer spoke his mind on blasphemy law until
Published 15 Jan, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (January 14, 2011).

Published 15 Jan, 2011 12:00am
Japan keen to invest in construction sector

Japan keen to invest in construction sector

A two-member Japanese investors' delegation showed its willingness to invest in the construction sector and related fields in Pakistan. While talking to Punjab Industrial Estate Chairman, S.M. Tanveer at Sundar Industrial Estate, they said that Pakistan i
Published 15 Jan, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Friday (January 14, 2011) and for Saturday (January 15, 2011).
Published 15 Jan, 2011 12:00am
Pepco dispels power crisis impression

Pepco dispels power crisis impression

A spokesman of Pakistan Electric Power Company (Pepco) has rejected apprehensions that power crisis would be intensified as power generation of 1700MW was added in the system during the last one year and an additional power generation of 1000MW is in the
Published 15 Jan, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (January 14, 2011).

Published 15 Jan, 2011 12:00am
National Assembly body concerned over use of unapproved Bt cotton seed

National Assembly body concerned over use of unapproved Bt cotton seed

NA Standing Committee on Food and Agriculture while showing grave concern over the use of unapproved seed of Bt cotton across the country, has directed all the relevant departments to devise a viable plan within 3 to 4 years to protect the crop from disea
Published 15 Jan, 2011 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Friday (January 14, 2011).

Published 15 Jan, 2011 12:00am
Cellular industry: advisory board to address technical issues: Aseff

Cellular industry: advisory board to address technical issues: Aseff

Federal Minister for Information Technology and Telecommun-ications, Sardar Aseff Ahmed Ali, has said that an advisory board will be formed to address the technical issues of the cellular industry. The minister expressed these views while talking to a del
Published 15 Jan, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on January 11, 2011.

Published 15 Jan, 2011 12:00am
Engro Rupiya Certificates' reach Rs 4 billion

Engro Rupiya Certificates' reach Rs 4 billion

Engro Rupiya Certificates have reached a net worth of Rs 4 billion, with the target having been met before the announced IPO closing period, with 80% of the amount having come from individual investors. Launched back in October 2010, Engro Rupiya Certific
Published 15 Jan, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on January 11, 2011.

Published 15 Jan, 2011 12:00am
Engro Rupiya Certificates' reach Rs 4 billion

Engro Rupiya Certificates' reach Rs 4 billion

Engro Rupiya Certificates have reached a net worth of Rs 4 billion, with the target having been met before the announced IPO closing period, with 80% of the amount having come from individual investors. Launched back in October 2010, Engro Rupiya Certific
Published 15 Jan, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on January 11, 2011.

Published 15 Jan, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 15 Jan, 2011 12:00am
Journalists assail murder of Wali Khan Babar

Journalists assail murder of Wali Khan Babar

The cold-blooded murder of a private TV channel reporter Wali Khan Babar on Friday stirred up anger and protests by the journalist community across the country. The journalist community termed the killing of Babar a "ruthless" attempt, which depicts state
Published 15 Jan, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 15 Jan, 2011 12:00am
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