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Archive - 2011-02-04
Nation observes Kashmir day befittingly
Top News

Nation observes Kashmir day befittingly

LAHORE: The nation observed Kashmir day on Saturday across the country, including Azad Jammu and Kashmir to express comp
Published 04 Feb, 2011 06:42pm
European stocks end higher
Financial

European stocks end higher

LONDON: European stock markets ended higher on Friday, with London's FTSE 100 index of leading shares rising 0.23 perc
Published 04 Feb, 2011 05:12pm
Flower worried by Bresnan injury
Sports

Flower worried by Bresnan injury

MELBOURNE: England coach Andy Flower says Tim Bresnan's tour-ending calf injury is the biggest worry for his team ahead
Published 04 Feb, 2011 09:33am
ICC warns against fraud emails
Sports

ICC warns against fraud emails

NEW DELHI: Cricket's governing body on Friday warned the public to beware of fraudulent emails that seek personal detail
Published 04 Feb, 2011 07:15am
First Rwandan IPO successfully completed
Top News

First Rwandan IPO successfully completed

KIGALI: The first initial public offering in Rwanda, the sale of a 25 percent stake in the country's brewery Bralirwa, h
Published 04 Feb, 2011 06:38am
Japanese shares rise on merger talks
Top News

Japanese shares rise on merger talks

TOKYO: Japanese shares added 1.14 percent in the early Friday session as investors cheered merger talks between two majo
Published 04 Feb, 2011 05:32am
Hunger stunts Philippine children
Asia

Hunger stunts Philippine children

MANILA: A third of Philippine school children are stunted because poverty has forced them to eat too little food for yea
Published 04 Feb, 2011 04:55am
MQMs wanting economic agenda
BR Research

MQMs wanting economic agenda

With the weakening of PPPs political standing in Islamabad, agendas and ultimatums are in vogue - the latest being MQMs nine-point economic
Published 04 Feb, 2011 12:00am
Food for thought
BR Research

Food for thought

Across the world, growing food security issues are calling for extreme measures to cap rising commodity prices, food shortages and malnutrit
Published 04 Feb, 2011 12:00am
Index gains 116.67 points

Index gains 116.67 points

The revived investors' confidence over the expectations of early introduction of leverage product on Thursday invited renewed buying at the local bourse and supported the KSE-100 index to register a healthy gain of 116.67 points to close at 12,359.06 poin
Published 04 Feb, 2011 12:00am
Index gains 116.67 points

Index gains 116.67 points

The revived investors'' confidence over the expectations of early introduction of leverage product on Thursday invited renewed buying at the local bourse and supported the KSE-100 index to register a healthy gain of 116.67 points to close at 12,359.06 poi
Published 04 Feb, 2011 12:00am
BRIndex30 up by 182.25 points

BRIndex30 up by 182.25 points

On Thursday, BRIndex30 opened at 8,950.40 and remained positive throughout the trading session with a general rising trend. It touched an intraday high of 9,147.67 and an intraday low of 8,950.40 and closed at 9,132.65 which was 182.25 points or 2.04 perc
Published 04 Feb, 2011 12:00am
BRIndex30 up by 182.25 points

BRIndex30 up by 182.25 points

On Thursday, BRIndex30 opened at 8,950.40 and remained positive throughout the trading session with a general rising trend. It touched an intraday high of 9,147.67 and an intraday low of 8,950.40 and closed at 9,132.65 which was 182.25 points or 2.04 perc
Published 04 Feb, 2011 12:00am
LSE index gains 73.18 points

LSE index gains 73.18 points

Bullish sentiments dominated on the Lahore Stock Exchange (LSE) on Thursday and the equities registered gains across the board amid improved trading turnover due to fresh buying in selective scrips. The LSE-25 index was increased by 73.18 points and was c
Published 04 Feb, 2011 12:00am
LSE index gains 73.18 points

LSE index gains 73.18 points

Bullish sentiments dominated on the Lahore Stock Exchange (LSE) on Thursday and the equities registered gains across the board amid improved trading turnover due to fresh buying in selective scrips. The LSE-25 index was increased by 73.18 points and was c
Published 04 Feb, 2011 12:00am
Equities fluctuate on ISE

Equities fluctuate on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 26.54 points, as the Index moved from 3,021.00 to 3,047.
Published 04 Feb, 2011 12:00am
Equities fluctuate on ISE

Equities fluctuate on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 26.54 points, as the Index moved from 3,021.00 to 3,047.
Published 04 Feb, 2011 12:00am
Two killed, 27 hurt in Lahore blast

Two killed, 27 hurt in Lahore blast

At least two people were killed while 27 others sustained injuries in a blast that occurred at the main gate of Haider Saeen Darbar in Badami Bagh area in Lahore on late Thursday night, a private TV channel reported. According to the channel a big crowd o
Published 04 Feb, 2011 12:00am
Benazir Bhutto's Blackberry cell phones found

Benazir Bhutto's Blackberry cell phones found

Benazir Bhutto's two Blackberry cell phones, which were lost on the day of her assassination, were found from Bilawal House Karachi, a private TV channel reported on Thursday. According to the channel, personal staff of slain Benazir Bhutto at Bilawal Hou
Published 04 Feb, 2011 12:00am
HEC, NPCCL sell-off approved by CcoP

HEC, NPCCL sell-off approved by CcoP

The Cabinet Committee on Privatisation (CCoP), which met on Thursday with Finance Minister Dr Hafeez Shaikh in the chair approved privatisation of Heavy Electrical Complex (HEC) and National Power Construction Corporation Limited (NPCCL).
Published 04 Feb, 2011 12:00am
HEC, NPCCL sell-off approved by CcoP

HEC, NPCCL sell-off approved by CcoP

The Cabinet Committee on Privatisation (CCoP), which met on Thursday with Finance Minister Dr Hafeez Shaikh in the chair approved privatisation of Heavy Electrical Complex (HEC) and National Power Construction Corporation Limited (NPCCL).
Published 04 Feb, 2011 12:00am
HEC, NPCCL sell-off approved by CcoP

HEC, NPCCL sell-off approved by CcoP

The Cabinet Committee on Privatisation (CCoP), which met on Thursday with Finance Minister Dr Hafeez Shaikh in the chair approved privatisation of Heavy Electrical Complex (HEC) and National Power Construction Corporation Limited (NPCCL).
Published 04 Feb, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 04 Feb, 2011 12:00am
World food prices hit new record: UN food agency

World food prices hit new record: UN food agency

World food prices hit a new record high in January after rising for a seventh consecutive month, the UN's Food and Agriculture Organisation (FAO) said Thursday, warning the poor would be hit hardest. The FAO Food Price Index, which monitors monthly price
Published 04 Feb, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 04 Feb, 2011 12:00am
Pakistan's foreign exchange reserves rise to record $17.38 billion level

Pakistan's foreign exchange reserves rise to record $17.38 billion level

The country's total liquid foreign reserves reached at highest ever level of 17.38 billion dollars because of huge remittances sent by overseas Pakistanis. According to the State Bank of Pakistan (SBP) that country's total liquid foreign reserves have pos
Published 04 Feb, 2011 12:00am
Pakistan's foreign exchange reserves rise to record $17.38 billion level

Pakistan's foreign exchange reserves rise to record $17.38 billion level

The country's total liquid foreign reserves reached at highest ever level of 17.38 billion dollars because of huge remittances sent by overseas Pakistanis. According to the State Bank of Pakistan (SBP) that country's total liquid foreign reserves have pos
Published 04 Feb, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (February 03, 2011).

Published 04 Feb, 2011 12:00am
Khayyam Sarhadi dies

Khayyam Sarhadi dies

Renowned film, TV and stage artist Khayyam Sarhadi passed away due to cardiac arrest here on Thursday. He was 75. He was the son of renowned artist Zia Sarhadi and husband of film star Saiqa. His funeral prayers will be offered in DHA tomorrow (Friday) at
Published 04 Feb, 2011 12:00am
Khayyam Sarhadi dies

Khayyam Sarhadi dies

Renowned film, TV and stage artist Khayyam Sarhadi passed away due to cardiac arrest here on Thursday. He was 75. He was the son of renowned artist Zia Sarhadi and husband of film star Saiqa. His funeral prayers will be offered in DHA tomorrow (Friday) at
Published 04 Feb, 2011 12:00am
Mubarak fears chaos if he resigns now

Mubarak fears chaos if he resigns now

Egyptian President Hosni Mubarak said Thursday in an interview with ABC television that he wants to leave office, but fears there will be chaos if he resigns now. The beleaguered Egyptian leader said he was "fed-up with being president and would like to l
Published 04 Feb, 2011 12:00am
Mubarak fears chaos if he resigns now

Mubarak fears chaos if he resigns now

Egyptian President Hosni Mubarak said Thursday in an interview with ABC television that he wants to leave office, but fears there will be chaos if he resigns now. The beleaguered Egyptian leader said he was "fed-up with being president and would like to l
Published 04 Feb, 2011 12:00am
THE RUPEE: firm trend

THE RUPEE: firm trend

Steadier trend was seen on the currency market on Thursday as the rupee managed to gain versus the US currency despite the higher demand for dollars, dealers said. The rupee almost retained its overnight level against the dollar as it did not show any var
Published 04 Feb, 2011 12:00am
THE RUPEE: firm trend

THE RUPEE: firm trend

Steadier trend was seen on the currency market on Thursday as the rupee managed to gain versus the US currency despite the higher demand for dollars, dealers said. The rupee almost retained its overnight level against the dollar as it did not show any var
Published 04 Feb, 2011 12:00am
Discos accused of violating tariff determinations

Discos accused of violating tariff determinations

The National Electric Power Regulatory Authority (Nepra) has accused power Distribution Companies (Discos) of violating tariff determinations with regard to losses and delayed payment mark-up rules to Independent Power Producers (IPPs).
Published 04 Feb, 2011 12:00am
Discos accused of violating tariff determinations

Discos accused of violating tariff determinations

The National Electric Power Regulatory Authority (Nepra) has accused power Distribution Companies (Discos) of violating tariff determinations with regard to losses and delayed payment mark-up rules to Independent Power Producers (IPPs).
Published 04 Feb, 2011 12:00am
Discos accused of violating tariff determinations

Discos accused of violating tariff determinations

The National Electric Power Regulatory Authority (Nepra) has accused power Distribution Companies (Discos) of violating tariff determinations with regard to losses and delayed payment mark-up rules to Independent Power Producers (IPPs).
Published 04 Feb, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (February 03, 2011).

Published 04 Feb, 2011 12:00am
Indian former minister held in police custody

Indian former minister held in police custody

An Indian court granted police the right to detain arrested ex-telecom minister A. Raja for five days on Thursday as investigators probe one of the country's biggest ever corruption cases. A judge at a New Delhi special court agreed to the request from th
Published 04 Feb, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (February 03, 2011).

Published 04 Feb, 2011 12:00am
Davis remanded to police for another eight days

Davis remanded to police for another eight days

A judicial magistrate on Thursday handed over US national Raymond Davis, involved in killing of two Pakistanis, to police for another eight-days physical remand. The accused was presented before the court amid strict security. Police requested the court t
Published 04 Feb, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Thursday (February 03, 2011) and for Friday (February 04, 2011).
Published 04 Feb, 2011 12:00am
22,000 flee Pakistan offensive: UN

22,000 flee Pakistan offensive: UN

About 22,000 civilians have fled a fresh military push against Taliban fighters in the lawless tribal area on the Afghan border, officials said Thursday. "Over the last few days about 22,000 people have been registered in the two camps that UNHCR has help
Published 04 Feb, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (February 03, 2011).

Published 04 Feb, 2011 12:00am
PTI demands trial under terrorism act

PTI demands trial under terrorism act

Pakistan Tehreek-e-Insaf (PTI) and its student wing Insaf Students Federation (ISF) took out a protest rally, here on Thursday, warning both federal and Punjab governments to provide justice to the families of the innocent Pakistanis killed by US citizens
Published 04 Feb, 2011 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 04 Feb, 2011 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 04 Feb, 2011 12:00am
Distribution ceremony of cheques held

Distribution ceremony of cheques held

Chairman Pakistan National Shipping Corporation (PNSC) Brigadier Rashid Siddiqi presided over a distribution ceremony of cheques, received from Privatisation Commission in respect of buy-back claims against the Unit Certificates/Shares surrendered by the
Published 04 Feb, 2011 12:00am
PPP Punjab puts forward 19-point agenda to Nawaz

PPP Punjab puts forward 19-point agenda to Nawaz

Senior Minister Punjab Raja Riaz Ahmed has put forward a 19-point agenda to Nawaz Sharif, asking for removal of corrupt provincial ministers and an end to the formation of a forward bloc in the provincial assembly, besides other demands. He said his 19-po
Published 04 Feb, 2011 12:00am
Full court reference honours elevated judges

Full court reference honours elevated judges

A full court reference was held here on Thursday to honour Justice Sarmad Jalal Osmany and Justice Amir Hani Muslim on their elevation as judges of Supreme Court of Pakistan. "The judiciary is today doing a commendable job, which is acceptable to all peop
Published 04 Feb, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (February 03, 2011).

Published 04 Feb, 2011 12:00am
PTCL, DUHS enter strategic partnership agreement

PTCL, DUHS enter strategic partnership agreement

Pakistan Telecommunication Company Limited (PTCL) covered another milestone with the entry of Dow University of Health Sciences (DUHS) in its corporate customer's portfolio. In this connection, PTCL will provide optical fibre connectivity to Dow Medical C
Published 04 Feb, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (February 03, 2011).

Published 04 Feb, 2011 12:00am
Missing persons cases: Supreme Court tells all IGPs to furnish details

Missing persons cases: Supreme Court tells all IGPs to furnish details

The Supreme Court on Thursday directed inspectors general of police (IGPs) of four provinces to furnish complete details of registered cases regarding missing persons in their respective provinces besides registering cases, in which evidences are availabl
Published 04 Feb, 2011 12:00am
The Weather

The Weather

The weather report on Thursday (February 03, 2011) and the forecast for Friday (February 04, 2011).

Published 04 Feb, 2011 12:00am
PCO judges cases: SCBA divides over court's decision

PCO judges cases: SCBA divides over court's decision

The Supreme Court Bar Association (SCBA) is divided over the apex court's decision for initiating proceedings against PCO judges by framing contempt charges against them on February 21. Twelve executive members of SCBA, who are associated with Hamid Khan
Published 04 Feb, 2011 12:00am
Two girl students killed in a school wall collapse

Two girl students killed in a school wall collapse

Two female students were killed when wall of a Girls school in Ajpani area fell on them on Thursday morning. The ill-fated female students were studying their books sitting within the premises of Government Girls Middle School Ajpani area when the wall of
Published 04 Feb, 2011 12:00am
AEDB, ADB launch Renewable Energy Guarantee Facility

AEDB, ADB launch Renewable Energy Guarantee Facility

Alternative Energy Development Board (AEDB) and the Asian Development Bank (ADB) jointly launched a Renewable Energy Guarantee Facility for Pakistan. The facility will provide in aggregate up to $200 million equivalent in guarantees to help mobilise comme
Published 04 Feb, 2011 12:00am
Khyber Pakhtunkhwa to resolve issues facing lady doctors, nurses

Khyber Pakhtunkhwa to resolve issues facing lady doctors, nurses

Khyber Pakhtunkhwa Minister for Social Welfare and Women Development, Sitara Ayaz has said that the provincial government has taken many steps to provide full protection to working women at their work places. She further said that intensive consultations
Published 04 Feb, 2011 12:00am
Etihad Airways becomes member of BITC

Etihad Airways becomes member of BITC

Etihad Airways has become a member of "Business in the Community" (BITC), an organisation that will support the implementation of the Abu Dhabi-based airline's sustainability strategy and provide access to best practice in the field of corporate social re
Published 04 Feb, 2011 12:00am
Conference on 'doing business in Pakistan' on February 10

Conference on 'doing business in Pakistan' on February 10

A conference to identify opportunities for doing business in Pakistan is being jointly organised here on February 10 by the UK Trade and Investment and Pakistan High Commission. The event will take place at the Lancaster House where Pakistan's Minister fo
Published 04 Feb, 2011 12:00am
Asrar Raouf assumes charge as additional secretary

Asrar Raouf assumes charge as additional secretary

In pursuance of Establishment Division notification, Asrar Raouf BS-21 officer of Inland Revenue Service has relinquished the charge as Member Policy (Direct Taxes), Federal Board of Revenue (Hq), Islamabad from February 1 2011. He has assumed the charge
Published 04 Feb, 2011 12:00am
NICL scam: FIA, MoC at odds over land evaluation

NICL scam: FIA, MoC at odds over land evaluation

The Federal Investigation Agency (FIA) and the Commerce Ministry are at loggerheads over evaluation of land involving National Insurance Company Limited (NICL) multi-billion scam. Sources said FIA has rejected NICL evaluation, estimating total value of th
Published 04 Feb, 2011 12:00am
Name of candidate sent to Provincial Assembly

Name of candidate sent to Provincial Assembly

Chief Election Commissioner of Pakistan, former Justice Hamid Ali Mirza has published the name of candidate returned to the Provincial Assembly of Khyber Pakhtunkhwa as a result of Bye-Election from the under mentioned Constituency: PK-87 Shangla-I, Muham
Published 04 Feb, 2011 12:00am
Pakistan is the safest country in terms of food security: minister

Pakistan is the safest country in terms of food security: minister

Federal Minister for Food and Agriculture Nazar Mohammad Gondal on Thursday reiterated that Pakistan was the safest country in terms of food security. Addressing a press conference he dispelled the notion that Pakistan was facing any food security issue,
Published 04 Feb, 2011 12:00am
PPP CEC meeting today

PPP CEC meeting today

A meeting of the PPP Central Executive Committee has been called on Friday after Juma prayers in the Presidency. The meeting to be presided over by Co-chairman President Asif Ali Zardari will discuss current political situation in the country.
Published 04 Feb, 2011 12:00am
CJP to attend law conference in India

CJP to attend law conference in India

Chief Justice of Pakistan (CJP) Iftikhar Muhammad Chaudhry will proceed to India to attend the 17th Commonwealth Law Conference in Hyderabad, India starting from February 5. Indian Prime Minster Dr Manmohan Singh will be the chief guest at the inaugural c
Published 04 Feb, 2011 12:00am
Massive fraud unearthed in old cars' import

Massive fraud unearthed in old cars' import

Massive fraud has reportedly been unearthed in the import of reconditioned vehicles by influential importers who are abusing used car import schemes announced in Trade Policy limited to facilitate overseas Pakistanis. According to official documents and a
Published 04 Feb, 2011 12:00am
Door-to-door enumeration of Electoral Rolls 2011: Nadra resists ECP plan

Door-to-door enumeration of Electoral Rolls 2011: Nadra resists ECP plan

National Database and Registration Authority (Nadra) has resisted Election Commission of Pakistan (ECP) plan to start door-to-door enumeration for preparation of fresh Computerised Electoral Rolls-2011. There are some hidden forces that are not willing to
Published 04 Feb, 2011 12:00am
Afghan Consulate organises dress exhibition 2011

Afghan Consulate organises dress exhibition 2011

The consulate of Islamic Republic of Afghanistan on Thursday organised the first-ever 'Afghan Dress Exhibition 2011' in Pakistan, highlighting historic designs of costumes. "We want to express our belief for peace as a nation and sword reflects a sign of
Published 04 Feb, 2011 12:00am
SBP report confirms fears

SBP report confirms fears

State Bank's quarterly report released on 2nd February, 2011 has confirmed once again fears that Pakistan's economy continues to be in a very poor shape and any "further delay in implementing critical structural adjustments risks significantly increasing
Published 04 Feb, 2011 12:00am
TCP must not be employed as a tool for subsidy

TCP must not be employed as a tool for subsidy

Trading Corporation of Pakistan has invited bids to import 225,000 tons of urea, estimated to cost Rs 8 billion, says a report in this newspaper. The gap between demand and supply was bound to be more than envisaged earlier because of non-supply of commit
Published 04 Feb, 2011 12:00am
Mounting debt burden and wasteful spending

Mounting debt burden and wasteful spending

Ostentatiously lavish living, wasting and plundering public money, misuse of powers, disrespect towards rule of law, insatiable greed coupled with rampant corruption, apathy towards the poor and needy, inefficiency and incompetence - just to mention a few
Published 04 Feb, 2011 12:00am
Australians assess their latest natural disaster

Australians assess their latest natural disaster

Australians thought they would be busy counting bodies Thursday rather than counting banana crop losses after the first category-five cyclone since 1918 lashed the north-east coast. Cyclone Yasi was the same strength but three times the size of Hurricane
Published 04 Feb, 2011 12:00am
Cancer can be eradicated in some cases

Cancer can be eradicated in some cases

According to the World Health Organisation (WHO), cancer is a leading cause of death around the world. The organisation calculated the mortality of this deadly group of diseases as 7.4 million deaths in 2004 (or around 13% of all deaths world-wide).
Published 04 Feb, 2011 12:00am
Domino effect

Domino effect

Nature plays its role in mysterious ways. Who would have thought that the self-immolation of one man in Tunisia could act like the first falling domino, crushing the authoritarian regime of Ben Ali.
Published 04 Feb, 2011 12:00am
Crisis Management Cell established at KCCI

Crisis Management Cell established at KCCI

Chairman, Businessmen Group and former President KCCI, Siraj Kassam Teli, Tahir Khaliq, M Zubair Motiwala, Haroon Farooki and Anjum Nisar, Vice Chairmen Businessmen Group & former Presidents, Sitting President, Muhammad Saeed Shafiq, Senior Vice President
Published 04 Feb, 2011 12:00am
Arms trafficker, two target killers held

Arms trafficker, two target killers held

Special Investigation Unit (SIU) of Sindh Police on Thursday claimed to have arrested three persons including arms trafficker and two target killers and recovered huge cache of arms and ammunition in two separate raids at different parts of the metropolis
Published 04 Feb, 2011 12:00am
Jica presents second report on Karachi transport project

Jica presents second report on Karachi transport project

Experts of Japan International Co-operation Agency (Jica) presented second progressive report of the study for Karachi Transport Improvement Project in the third meeting of Technical Committee held in the Conference Room of Civic Centre on Wednesday.
Published 04 Feb, 2011 12:00am
Public advised to exchange old-designed Rs 500 banknote

Public advised to exchange old-designed Rs 500 banknote

The State Bank of Pakistan (SBP) has advised the general public to exchange the old-design and bigger-size banknote of Rs 500/- from the field offices of SBP Banking Services Corporation and the branches of all commercial banks throughout the country upto
Published 04 Feb, 2011 12:00am
Pacra upgrades stability rating of AIIF

Pacra upgrades stability rating of AIIF

Pakistan Credit Rating Agency (Pacra) has upgraded the stability rating to 'AA-(F)' (Double A Minus - Fund Rating) - previous rating: "A+(f)" (Single A Plus - Fund Rating) - of Askari Islamic Income Fund (AIIF), an open-end Shariah compliant income fund.
Published 04 Feb, 2011 12:00am
Pacra upgrades stability rating of AIIF

Pacra upgrades stability rating of AIIF

Pakistan Credit Rating Agency (Pacra) has upgraded the stability rating to 'AA-(F)' (Double A Minus - Fund Rating) - previous rating: "A+(f)" (Single A Plus - Fund Rating) - of Askari Islamic Income Fund (AIIF), an open-end Shariah compliant income fund.
Published 04 Feb, 2011 12:00am
Pacra upgrades IFC rating of UIC

Pacra upgrades IFC rating of UIC

The Pakistan Credit Rating Agency (Pacra) has upgraded the IFS rating of the United Insurance Company of Pakistan Limited (UIC) to "A" (single A) {previously "A-" (single A minus) with positive outlook}. The rating denotes strong capacity to meet policyho
Published 04 Feb, 2011 12:00am
Pacra upgrades IFC rating of UIC

Pacra upgrades IFC rating of UIC

The Pakistan Credit Rating Agency (Pacra) has upgraded the IFS rating of the United Insurance Company of Pakistan Limited (UIC) to "A" (single A) {previously "A-" (single A minus) with positive outlook}. The rating denotes strong capacity to meet policyho
Published 04 Feb, 2011 12:00am
Askari Sovereign Cash Fund's rating maintained at 'AA+'

Askari Sovereign Cash Fund's rating maintained at 'AA+'

The Pakistan Credit Rating Agency (Pacra) has maintained the stability rating at 'AA+(f) (Double A plus - Fund Rating) of Askari Sovereign Cash Fund (ASCF), an open-end money market fund. The fund's rating denotes a very strong capacity to manage relative
Published 04 Feb, 2011 12:00am
Askari Sovereign Cash Fund's rating maintained at 'AA+'

Askari Sovereign Cash Fund's rating maintained at 'AA+'

The Pakistan Credit Rating Agency (Pacra) has maintained the stability rating at 'AA+(f) (Double A plus - Fund Rating) of Askari Sovereign Cash Fund (ASCF), an open-end money market fund. The fund's rating denotes a very strong capacity to manage relative
Published 04 Feb, 2011 12:00am
Capital police arrest 19 criminals

Capital police arrest 19 criminals

Islamabad Police busted three gangs of car snatchers and dacoits and nabbed twelve members of the gangs, recovering a car, gold ornament worth Rs 8.3 million, two pistols 30-bore, ten bullets and a dagger from their possession. Islamabad Industrial Area P
Published 04 Feb, 2011 12:00am
Aerial Bundle Cable: KESC launches pilot project to end Kunda culture

Aerial Bundle Cable: KESC launches pilot project to end Kunda culture

The Karachi Electric Supply Company has kicked off its Aerial Bundle Cable (ABC) Pilot Project at a cost of Rs 348 million, under which low tension bare wires from PMT to consumer meter will be replaced by ABC, which would eradicate issues like Kunda conn
Published 04 Feb, 2011 12:00am
Controlling line losses: MD SSGC for out of box approach

Controlling line losses: MD SSGC for out of box approach

Dr Faizullah Abbasi, Managing Director, Sui Southern Gas Company (SSGC) has said that the entire workforce of the company is committed towards taking on the challenge of unaccounted for gas (UFG) head-on, adding that an out-of-the-box approach is imperati
Published 04 Feb, 2011 12:00am
Getting rid of energy crisis: government urged to undertake measures

Getting rid of energy crisis: government urged to undertake measures

Senators belonging to various parties on Thursday called upon the government to undertake measures to get rid of the energy crisis by adopting alternate energy resources and also initiating talks with the US for getting civilian nuclear energy.
Published 04 Feb, 2011 12:00am
JUI to hold Namoos-e-Resalat conference

JUI to hold Namoos-e-Resalat conference

The provincial executive committee, district Amirs and general secretaries JUI-F, Khyber Pakhtunkhwa here decided to organise All Parties Namoos-e-Resalat Conference on Sunday February 20 and directed all district chapters for making arrangements for it.
Published 04 Feb, 2011 12:00am
200 ERS packages distributed among flood-hit people

200 ERS packages distributed among flood-hit people

The government of Pakistan distributed 200 Emergency Relief Supplies (ERS) including cooking utensils and blankets to improve socio-economic conditions of the flood affected families in Mohmand Agency. Two schemes of drinking water and street pavement hav
Published 04 Feb, 2011 12:00am
'Motorway police a role model'

'Motorway police a role model'

The DG Ranger Muhammad Nawaz valued the performance of Motorway Police and said NH&MP play crucial role for creating road safety responsiveness in public. While talking to DIG Syed Ibne Hussain in meeting at Ranger Head Quarter Lahore he said that motorwa
Published 04 Feb, 2011 12:00am
Cane commissioner directed to help growers recover dues

Cane commissioner directed to help growers recover dues

Farmers Associates Pakistan (FAP) has urged the Punjab government to direct the cane commissioner to help growers recover their dues from millers. 'Sugar mills in Punjab have to pay Rs 3 billion and farmers are trying hard to recover their dues' said Vice
Published 04 Feb, 2011 12:00am
PIE plans to set up power plants at various cities

PIE plans to set up power plants at various cities

Punjab Industrial Estate (PIE) is studying alternate options and pushing forward its plans to establish power plants not only at Sundar but also at Rahim Yar Khan, Bhalwal and Multan Industrial Estate.
Published 04 Feb, 2011 12:00am
Petition filed to put names of Sharmila, parents on ECL

Petition filed to put names of Sharmila, parents on ECL

A constitutional petition was filed in Supreme Court, praying to issue directives to put the names of Sharmila Farouqi, former advisor to Sindh chief minister, her father Usman Farouqi and mother Anisa Farouqi on exit control list (ECL).
Published 04 Feb, 2011 12:00am
Qamar meets Fisher

Qamar meets Fisher

The Federal Minister of Petroleum and Natural Resources Syed Naveed Qamar met with the Vice President of Niko Resources (Pakistan) Ltd. Larry Fisher who called on him here on Thursday and briefed about his company's work underway in Pakistan in the four o
Published 04 Feb, 2011 12:00am
Sales Tax Act 1990: AGP detects violation by certain sugar mills

Sales Tax Act 1990: AGP detects violation by certain sugar mills

The Auditor General of Pakistan (AGP) has detected violation of Sales Tax Act 1990 by certain sugar manufacturers. These violations include inadmissible adjustment of input tax on electricity consumed in residential colonies of the sugar mills.
Published 04 Feb, 2011 12:00am
Cancer a leading cause of deaths globally: Fehmida

Cancer a leading cause of deaths globally: Fehmida

Dr Fehmida Mirza, Speaker National Assembly has said that cancer is a leading cause of deaths globally and needed stringent awareness campaign to save the lives of the people who died from the fatal disease. She said this in her message on the World Cance
Published 04 Feb, 2011 12:00am
Western policies are not working properly: Karen

Western policies are not working properly: Karen

Famous religious thinker Karen Armstrong has said that western policies are not working properly. She said that people in the world should make efforts to make the world a compassionate place. She was addressing the launching ceremony of her book Twelve S
Published 04 Feb, 2011 12:00am
Parliamentarians urged to rise above personal gains

Parliamentarians urged to rise above personal gains

Pakistan Muslim League-Nawaz (PML-N) Senior Vice President, Makhdoom Javed Hashmi Thursday urged the parliamentarians to rise above personal gains for supporting the right stance and truth within the parties and before their leadership.
Published 04 Feb, 2011 12:00am
Kundi expresses dismay over non-presence of law minister

Kundi expresses dismay over non-presence of law minister

Deputy Speaker National Assembly Faisal Karim Kundi on Thursday expressed dissatisfaction over absence of Law Minister from the House causing trouble in legislation process. The Deputy Speaker deferred "The Rulers of Acceding States (Abolition of Privy Pu
Published 04 Feb, 2011 12:00am
Senators urged to pass resolution to show solidarity with Egyptians

Senators urged to pass resolution to show solidarity with Egyptians

While expressing solidarity with Egyptian people fighting for democratic reforms, a nationalist senator Thursday urged the House to pass a unanimous resolution in support of their on-going reformed driven move. Advisor to the Prime Minister Mian Raza Rabb
Published 04 Feb, 2011 12:00am
Ministry has no intention to extend Manora Cantt limit: minister

Ministry has no intention to extend Manora Cantt limit: minister

Minister for Defence Chaudhary Ahmad Mukhtar Thursday told the National Assembly that the Defence Ministry has no intention to extend the limits of Manora Cantonment Board Karachi and the issue could be resolved in consultation with all the stakeholders.
Published 04 Feb, 2011 12:00am
First Rabi-ul-Awwal on February 5

First Rabi-ul-Awwal on February 5

The Rabi-ul-Awwal moon has not been sighted in the country. This was announced by Chairman of the Central Ruet-i-Hilal Committee, Mufti Munib-ur-Rehman, after chairing the meeting of the committee here on Thursday. He said that the Rabi-ul-Awwal moon has
Published 04 Feb, 2011 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

The National Assembly on Thursday witnessed frustration of a grassroots political leader on the existing political culture and dictatorial attitude of political parties' leadership and urged the members to challenge them.
Published 04 Feb, 2011 12:00am
PML playing due role as sole opposition party: Shujaat

PML playing due role as sole opposition party: Shujaat

The PML President Chaudhry Shujaat Hussain Thursday said his party would keep playing its role in the progress and prosperity of the people at large and it would emerge as the single largest party of the country in the next elections.
Published 04 Feb, 2011 12:00am
US MIDDAY: gold surges

US MIDDAY: gold surges

Gold rose over 1 percent in volatile trade on Thursday as strong buying by exchange traded funds and safe-haven demand driven by ongoing unrest in Egypt triggered large buy orders. After trading lower in most of the morning session, gold rallied at midday
Published 04 Feb, 2011 12:00am
US MIDDAY: copper climbs

US MIDDAY: copper climbs

Copper extended its historic four-day rally to $10,000 per tonne on Thursday, helping boost tin to a new record in the process, as curtailed supply growth at a time of healthier demand continued to power prices higher. COMEX copper for March delivery peak
Published 04 Feb, 2011 12:00am
US MIDDAY: corn, soya and wheat sag

US MIDDAY: corn, soya and wheat sag

Soyabean, corn and wheat futures on the Chicago Board of Trade sagged by midsession on Thursday as a resurgent dollar offset support from strong weekly US export sales figures, traders said. All three markets were hovering near recent long-term highs, pro
Published 04 Feb, 2011 12:00am
US MIDDAY: coffee climbs

US MIDDAY: coffee climbs

Arabica coffee futures climbed to a fresh 13-1/2 year high on Thursday, and robusta also hit a multi-year peak, bolstered by a shortage of high quality beans and strength across agricultural commodities. Raw sugar futures slumped, erasing all their gains
Published 04 Feb, 2011 12:00am
Gold stays down in Europe

Gold stays down in Europe

Gold eased for a second day after US data showed a healthy pace of growth in the US services sector, having earlier risen on the back of more muted expectations for eurozone rate rises. Hawkish rhetoric from the ECB had raised expectations that it might m
Published 04 Feb, 2011 12:00am
Gold down in Asia

Gold down in Asia

Gold fell further on Thursday on economic optimism in the United States and Europe, but rising oil prices could offer support, while physical demand was expected to pick up again after the Lunar New Year celebration. Spot gold lost $7.50 to $1,328.50 an o
Published 04 Feb, 2011 12:00am
US gold falls

US gold falls

US gold futures ended lower on Wednesday after an encouraging private-sector jobs report and relative Middle Eastern stability despite protests in Egypt deflected interest from bullion on to higher-risk assets. COMEX April gold futures settled down $8.2 a
Published 04 Feb, 2011 12:00am
Liffe coffee sets 2-1/4-year peak, sugar tumbles

Liffe coffee sets 2-1/4-year peak, sugar tumbles

Liffe May robusta coffee ended $16 higher at $2,268 a tonne on Thursday after rising to a peak of $2,287, the highest for the second month since August 2008. Market supported strength of ICE arabicas, which climbed to a 13-1/2 year high on Thursday.Liffe
Published 04 Feb, 2011 12:00am
US soyabeans rise

US soyabeans rise

Soyabean futures on the Chicago Board of Trade extended their 28-1/2-month highs on Wednesday, lifted by spillover strength from wheat along with news of fresh sales of US soyabeans to China, traders said. USDA confirmed sales of 440,000 tonnes of US soya
Published 04 Feb, 2011 12:00am
New York sugar surges to 30-year high

New York sugar surges to 30-year high

Raw sugar futures shot up to close at the highest level in more than three decades on Wednesday, as a massive cyclone hit Australia, one of world's top sugar exporters, deepening concerns about tight global supplies. Cocoa futures on ICE rose to just belo
Published 04 Feb, 2011 12:00am
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