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Archive - 2011-02-09
Nokia 'on a burning platform,' CEO warns
Top News

Nokia 'on a burning platform,' CEO warns

HELSINKI: The world's top mobile phone maker Nokia is "standing on a burning platform" surrounded by a "blazing fire"
Published 09 Feb, 2011 06:17pm
Foreign exchange rates
Financial

Foreign exchange rates

KARACHI: The Exchange Rates Committee of State Bank of Pakistan issued the following exchange rates bulletin here on Wed
Published 09 Feb, 2011 03:42pm
Toyota shares climb 4.72%
Financial

Toyota shares climb 4.72%

TOKYO: Toyota shares climbed 4.72 percent in Tokyo trade Wednesday after a US government probe found electronic flaws
Published 09 Feb, 2011 03:28pm
Federal Cabinet resigns
Top News

Federal Cabinet resigns

ISLAMABAD: All the Federal Cabinet members on Wednesday tendered their resignations to Prime Minister Syed Yousuf Raza G
Published 09 Feb, 2011 09:35am
Dollar higher against yen
Financial

Dollar higher against yen

TOKYO: The dollar rose against the yen in Asia on Wednesday in line with higher US Treasury yields, with China's latest
Published 09 Feb, 2011 08:56am
Inter-Korean military talks collapse
Top News

Inter-Korean military talks collapse

SEOUL: Military talks aimed at easing high tensions between North and South Korea collapsed Wednesday when the North's d
Published 09 Feb, 2011 08:21am
Davis economic dilemma
BR Research

Davis economic dilemma

As the pressure boils on the Raymond Davis issue, America has reportedly put on hold bilateral engagements and has suspended all high-level
Published 09 Feb, 2011 12:00am
National Investment Trust
BR Research

National Investment Trust

Pakistans premier open-ended mutual fund, National Investment Trust (NIT) has once again delivered excellent news to investors. The asset ma
Published 09 Feb, 2011 12:00am
US suspends visits to Pakistan

US suspends visits to Pakistan

The US Administration has suspended official visits of all its high-level delegations to Pakistan scheduled for the next two weeks. A senior official of Ministry of Foreign Affairs told Business Recorder that the Foreign Office had received an inti
Published 09 Feb, 2011 12:00am
Index sheds 66.42 points

Index sheds 66.42 points

The KSE-100 index on Tuesday lost 66.42 points and closed at 12,360.94 points due to profit taking, mainly by institutions. The rising circular debt in the Pakistan energy sector and declining oil prices in the international market invited selling and the
Published 09 Feb, 2011 12:00am
Index sheds 66.42 points

Index sheds 66.42 points

The KSE-100 index on Tuesday lost 66.42 points and closed at 12,360.94 points due to profit taking, mainly by institutions. The rising circular debt in the Pakistan energy sector and declining oil prices in the international market invited selling and the
Published 09 Feb, 2011 12:00am
Index sheds 66.42 points

Index sheds 66.42 points

The KSE-100 index on Tuesday lost 66.42 points and closed at 12,360.94 points due to profit taking, mainly by institutions. The rising circular debt in the Pakistan energy sector and declining oil prices in the international market invited selling and the
Published 09 Feb, 2011 12:00am
BRIndex30 down 90.16 points

BRIndex30 down 90.16 points

On Tuesday, the BRIndex30 opened at 9,167.49 points and remained in negative for most of the trading time, except for a short spike near the market opening. It touched the intra-day high of 9,177.07 points and low of 9,059.84 points, and closed at 9,077.3
Published 09 Feb, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (February 08, 2011).

Published 09 Feb, 2011 12:00am
BRIndex30 down 90.16 points

BRIndex30 down 90.16 points

On Tuesday, the BRIndex30 opened at 9,167.49 points and remained in negative for most of the trading time, except for a short spike near the market opening. It touched the intra-day high of 9,177.07 points and low of 9,059.84 points, and closed at 9,077.3
Published 09 Feb, 2011 12:00am
China raises interest rates to tame inflation

China raises interest rates to tame inflation

China's central bank on Tuesday raised interest rates for the third time in four months, as authorities ramp up efforts to tame inflation amid fears it could trigger social unrest. The People's Bank of China said in a brief statement that it would raise t
Published 09 Feb, 2011 12:00am
18-inch gas pipeline blown up in Nasirabad

18-inch gas pipeline blown up in Nasirabad

Unknown men blew up 18-inch natural gas supply line with explosive material in Toll Plaza area of Nasirabad district, some 302 kilometres east of Quetta on Tuesday while watchman of the main gas supply regulator sustained serious burn injuries.
Published 09 Feb, 2011 12:00am
Bearish sentiments dominate on LSE

Bearish sentiments dominate on LSE

Bearish sentiments dominated on the Lahore Stock Exchange (LSE) on Tuesday and the equities registered declines amid descending transaction volume on account of lacking buying support. The LSE-25 index lost 43.14 points and was closed at 3753.20 against 3
Published 09 Feb, 2011 12:00am
Bearish sentiments dominate on LSE

Bearish sentiments dominate on LSE

Bearish sentiments dominated on the Lahore Stock Exchange (LSE) on Tuesday and the equities registered declines amid descending transaction volume on account of lacking buying support. The LSE-25 index lost 43.14 points and was closed at 3753.20 against 3
Published 09 Feb, 2011 12:00am
ISE index loses 19.75 points

ISE index loses 19.75 points

Bears dominated the proceedings at Islamabad Stock Exchange (ISE) where equities showed negative signs amid decrease in index. ISE-10 Index was down by 19.75 points from 3,052.90 to 3,033.15 points. Turnover amounted to 102,520 shares as compared to previ
Published 09 Feb, 2011 12:00am
ISE index loses 19.75 points

ISE index loses 19.75 points

Bears dominated the proceedings at Islamabad Stock Exchange (ISE) where equities showed negative signs amid decrease in index. ISE-10 Index was down by 19.75 points from 3,052.90 to 3,033.15 points. Turnover amounted to 102,520 shares as compared to previ
Published 09 Feb, 2011 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Tuesday (February 08, 2011).

Published 09 Feb, 2011 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Tuesday (February 08, 2011).

Published 09 Feb, 2011 12:00am
Highest ever monthly exports in January 2011

Highest ever monthly exports in January 2011

On the heels of last months' export data, Pakistan forged ahead with its exports record breaking spree, achieving the highest ever monthly exports figure of $2.329 billion January 2011. Pakistan's exports during January, 2011 were valued at US $2.329 bill
Published 09 Feb, 2011 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Tuesday (February 08, 2011).

Published 09 Feb, 2011 12:00am
Highest ever monthly exports in January 2011

Highest ever monthly exports in January 2011

On the heels of last months' export data, Pakistan forged ahead with its exports record breaking spree, achieving the highest ever monthly exports figure of $2.329 billion January 2011. Pakistan's exports during January, 2011 were valued at US $2.329 bill
Published 09 Feb, 2011 12:00am
Highest ever monthly exports in January 2011

Highest ever monthly exports in January 2011

On the heels of last months'' export data, Pakistan forged ahead with its exports record breaking spree, achieving the highest ever monthly exports figure of $2.329 billion January 2011. Pakistan''s exports during January, 2011 were valued at US $2.329 bi
Published 09 Feb, 2011 12:00am
CPI inflation surges by 14.19 percent in January

CPI inflation surges by 14.19 percent in January

The CPI inflation surged by 14.19 percent in January 2011 over the corresponding period of the last year with prices of perishable food items soaring to 44.39 percent, according to Federal Bureau of Statistics (FBS). Official figures of Consumer Price Ind
Published 09 Feb, 2011 12:00am
CPI inflation surges by 14.19 percent in January

CPI inflation surges by 14.19 percent in January

The CPI inflation surged by 14.19 percent in January 2011 over the corresponding period of the last year with prices of perishable food items soaring to 44.39 percent, according to Federal Bureau of Statistics (FBS). Official figures of Consumer Price Ind
Published 09 Feb, 2011 12:00am
CPI inflation surges by 14.19 percent in January

CPI inflation surges by 14.19 percent in January

The CPI inflation surged by 14.19 percent in January 2011 over the corresponding period of the last year with prices of perishable food items soaring to 44.39 percent, according to Federal Bureau of Statistics (FBS). Official figures of Consumer Price Ind
Published 09 Feb, 2011 12:00am
Appointments in OGDC: MD makes shocking disclosures to Senate body

Appointments in OGDC: MD makes shocking disclosures to Senate body

In a shocking disclosure to the Senate Special Committee, Managing Director (MD) of the Oil and Gas Development Company Limited (OGDC), Naeem Malik on Tuesday said that only 1.76 percent appointments were made on merit of total 7.5 percent merit jobs quot
Published 09 Feb, 2011 12:00am
Appointments in OGDC: MD makes shocking disclosures to Senate body

Appointments in OGDC: MD makes shocking disclosures to Senate body

In a shocking disclosure to the Senate Special Committee, Managing Director (MD) of the Oil and Gas Development Company Limited (OGDC), Naeem Malik on Tuesday said that only 1.76 percent appointments were made on merit of total 7.5 percent merit jobs quot
Published 09 Feb, 2011 12:00am
Appointments in OGDC: MD makes shocking disclosures to Senate body

Appointments in OGDC: MD makes shocking disclosures to Senate body

In a shocking disclosure to the Senate Special Committee, Managing Director (MD) of the Oil and Gas Development Company Limited (OGDC), Naeem Malik on Tuesday said that only 1.76 percent appointments were made on merit of total 7.5 percent merit jobs quot
Published 09 Feb, 2011 12:00am
Masood Kausar made governor Khyber Pakhtunkhwa

Masood Kausar made governor Khyber Pakhtunkhwa

President Asif Ali Zardari Tuesday appointed Barrister Syed Masood Kausar as Governor Khyber Pakhtunkhwa. The President made this appointment on the advice of Prime Minister Syed Yousuf Raza Gilani. Barrister Syed Masood Kausar was elected MPA from Khyber
Published 09 Feb, 2011 12:00am
Masood Kausar made governor Khyber Pakhtunkhwa

Masood Kausar made governor Khyber Pakhtunkhwa

President Asif Ali Zardari Tuesday appointed Barrister Syed Masood Kausar as Governor Khyber Pakhtunkhwa. The President made this appointment on the advice of Prime Minister Syed Yousuf Raza Gilani. Barrister Syed Masood Kausar was elected MPA from Khyber
Published 09 Feb, 2011 12:00am
Pak-born TV executive found guilty of beheading wife

Pak-born TV executive found guilty of beheading wife

A jury in Buffalo, upstate New York, found Muzzammil Hassan, a Pakistan-born founder of an Islamic television station, guilty of murdering and beheading his wife, Aasiya, in 2009. Hassan, 46, who represented himself during the two-week trial, faces a maxi
Published 09 Feb, 2011 12:00am
Pak-born TV executive found guilty of beheading wife

Pak-born TV executive found guilty of beheading wife

A jury in Buffalo, upstate New York, found Muzzammil Hassan, a Pakistan-born founder of an Islamic television station, guilty of murdering and beheading his wife, Aasiya, in 2009. Hassan, 46, who represented himself during the two-week trial, faces a maxi
Published 09 Feb, 2011 12:00am
MQM not to join new Cabinet in first phase

MQM not to join new Cabinet in first phase

Muttahida Qaumi Movement has expressed inability to join new federal cabinet, Aaj News reported. Quoting sources, the channel said the new cabinet would take oath in two phases and Muttahida has expressed inability to join it in first phase. The party sou
Published 09 Feb, 2011 12:00am
MQM not to join new Cabinet in first phase

MQM not to join new Cabinet in first phase

Muttahida Qaumi Movement has expressed inability to join new federal cabinet, Aaj News reported. Quoting sources, the channel said the new cabinet would take oath in two phases and Muttahida has expressed inability to join it in first phase. The party sou
Published 09 Feb, 2011 12:00am
FBR appoints DG to broaden tax base

FBR appoints DG to broaden tax base

In a major move to broaden the tax base, the Federal Board of Revenue (FBR) has appointed Shahid Hussain Asad, (IRS/BS-21), Member, FBR, as Director General of Broadening of Tax Base with immediate effect. In this regard, the FBR issued an office order on
Published 09 Feb, 2011 12:00am
FBR appoints DG to broaden tax base

FBR appoints DG to broaden tax base

In a major move to broaden the tax base, the Federal Board of Revenue (FBR) has appointed Shahid Hussain Asad, (IRS/BS-21), Member, FBR, as Director General of Broadening of Tax Base with immediate effect. In this regard, the FBR issued an office order on
Published 09 Feb, 2011 12:00am
FBR appoints DG to broaden tax base

FBR appoints DG to broaden tax base

In a major move to broaden the tax base, the Federal Board of Revenue (FBR) has appointed Shahid Hussain Asad, (IRS/BS-21), Member, FBR, as Director General of Broadening of Tax Base with immediate effect. In this regard, the FBR issued an office order on
Published 09 Feb, 2011 12:00am
Afghan-bound goods taxed; Nato still exempt

Afghan-bound goods taxed; Nato still exempt

Pakistan introduced a tax Tuesday on all goods transiting into Afghanistan, except supplies for US-led Nato troops fighting the Taliban, Sindh excise and taxation minister said. The decision follows a transit trade deal between Kabul and Islamabad.
Published 09 Feb, 2011 12:00am
Afghan-bound goods taxed; Nato still exempt

Afghan-bound goods taxed; Nato still exempt

Pakistan introduced a tax Tuesday on all goods transiting into Afghanistan, except supplies for US-led Nato troops fighting the Taliban, Sindh excise and taxation minister said. The decision follows a transit trade deal between Kabul and Islamabad.
Published 09 Feb, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 09 Feb, 2011 12:00am
Afghan-bound goods taxed; Nato still exempt

Afghan-bound goods taxed; Nato still exempt

Pakistan introduced a tax Tuesday on all goods transiting into Afghanistan, except supplies for US-led Nato troops fighting the Taliban, Sindh excise and taxation minister said. The decision follows a transit trade deal between Kabul and Islamabad.
Published 09 Feb, 2011 12:00am
Afghan-bound goods taxed; Nato still exempt

Afghan-bound goods taxed; Nato still exempt

Pakistan introduced a tax Tuesday on all goods transiting into Afghanistan, except supplies for US-led Nato troops fighting the Taliban, Sindh excise and taxation minister said. The decision follows a transit trade deal between Kabul and Islamabad.
Published 09 Feb, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 09 Feb, 2011 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 09 Feb, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 09 Feb, 2011 12:00am
French Naval chief calls on Noman Bashir

French Naval chief calls on Noman Bashir

French Naval chief Admiral Pierre-Francois Forissier called on Admiral Noman Bashir, Chief of the Naval Staff here on Tuesday. During the meeting various aspects related to area of mutual co-operation between the two navies and matters of professional int
Published 09 Feb, 2011 12:00am
'Islamic Banking system has emerged as new role model'

'Islamic Banking system has emerged as new role model'

Finance Minister Dr Abdul Hafeez Shaikh has said that Islamic Banking system has emerged as new role model after the global financial crisis. Speaking as chief guest at the inaugural session of 1st International Conference on Islamic Business and Finance
Published 09 Feb, 2011 12:00am
Zardari's dual office: hearing put off

Zardari's dual office: hearing put off

A full bench of the Lahore High Court (LHC) here on Tuesday adjourned to February 9 (tomorrow) the hearing of petitions challenging holding of dual office by President Asif Ali Zardari when petitioner's leading counsel A K Dogar was still submitting his a
Published 09 Feb, 2011 12:00am
Commerce issues SRO allowing five-year used cars' import

Commerce issues SRO allowing five-year used cars' import

The Commerce Ministry has issued Statutory Regulatory Order (SRO), allowing import of five years reconditioned cars instead of three years. In this regard, the ministry has issued a notification here on Tuesday.
Published 09 Feb, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (February 08, 2011).

Published 09 Feb, 2011 12:00am
Musharraf should face courts in Benazir Bhutto murder case: Awan

Musharraf should face courts in Benazir Bhutto murder case: Awan

Federal Minister for Law and Parliamentary Affairs Dr Babar Awan said on Tuesday that former President General Pervez Musharraf (Retd) should face the courts in Benazir Bhutto assassination case as the judiciary is independent in its decision making and d
Published 09 Feb, 2011 12:00am
Biodegradable plastic bags launched in Lahore

Biodegradable plastic bags launched in Lahore

Waste Busters, a private sector company, has launched biodegradable garbage bags in Lahore. These bags are made from TDPA(r) technology introduced in Pakistan by Environmental Products International (EPI) from Canada, which converts regular plastic bags i
Published 09 Feb, 2011 12:00am
Remarks against Fazl: Senate panel resents non-appearance of Burney

Remarks against Fazl: Senate panel resents non-appearance of Burney

The Senate Committee on Rules of Procedures and Privileges on Tuesday expressed serious resentments on non-appearance of the former Federal Minister and human rights activist Ansar Burney before the committee being summoned twice for his remarks against C
Published 09 Feb, 2011 12:00am
FBR transfers, postings

FBR transfers, postings

In a major reshuffling, the Federal Board of Revenue (FBR) has transferred and posted nine officials of Inland Revenue Service (Grade-21-20) with immediate effect. The FBR has also transferred four officials of Pakistan Customs Service with immediate effe
Published 09 Feb, 2011 12:00am
Petition filed to disqualify Fata MNA

Petition filed to disqualify Fata MNA

A constitutional petition was filed on Tuesday in Supreme Court, pleading to disqualify a Fata lawmaker for allegedly getting bribe to cast his vote during Senate elections in 2009. Kamal Azfar through Qari Abdul Rasheed advocate filed a petition under ar
Published 09 Feb, 2011 12:00am
THE RUPEE: dollar at eight-month low

THE RUPEE: dollar at eight-month low

The absence of high oil payments, healthier inflows aided the rupee to hit eight-month high in relation to the US currency, dealers said. Some experts said that the rupee strengthened versus dollar, gaining 27 paisa for buying and selling at 85.25 and 85.
Published 09 Feb, 2011 12:00am
THE RUPEE: dollar at eight-month low

THE RUPEE: dollar at eight-month low

The absence of high oil payments, healthier inflows aided the rupee to hit eight-month high in relation to the US currency, dealers said. Some experts said that the rupee strengthened versus dollar, gaining 27 paisa for buying and selling at 85.25 and 85.
Published 09 Feb, 2011 12:00am
Quail meat-processing plant to be inaugurated at UVAS on February 24

Quail meat-processing plant to be inaugurated at UVAS on February 24

State of the Art Quail meat processing plant which is completed at a cost of Rs 11 million will be inaugurated at Avian Research Training (ART) Centre of the University of Veterinary and Animal Sciences (UVAS) on February 24 said, Farm Officer of the UVAS
Published 09 Feb, 2011 12:00am
Explosion damages 220-KV tower in Jaffarabad

Explosion damages 220-KV tower in Jaffarabad

Unknown men attached explosive material with a 220-KV electricity tower of high transmission line in Mamal area of Jaffarabd district some 400 km east of Quetta on Tuesday. Levies sources told newsmen that unidentified men attached explosive device with t
Published 09 Feb, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (February 08, 2011).

Published 09 Feb, 2011 12:00am
Ichra bomb blast: Supreme Court acquits Asgahr Ali

Ichra bomb blast: Supreme Court acquits Asgahr Ali

A full bench of the Supreme Court here on Tuesday acquitted Asgahr Ali involved in Ichra bomb blast who was awarded life sentence on two accounts by an anti-terrorism court. Police had arrested Asghar, a resident of Sadiqabad, soon after the incident and
Published 09 Feb, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (February 08, 2011).

Published 09 Feb, 2011 12:00am
FTO for probe against officials involved in Isaf container scam

FTO for probe against officials involved in Isaf container scam

Federal Tax Ombudsman (FTO) Dr Shoaib Suddle said on Tuesday that the criminal investigation should be initiated against the officials involved in the Isaf container scam. Addressing a press conference on the annual performance of the FTO Office for 2010
Published 09 Feb, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (February 08, 2011).

Published 09 Feb, 2011 12:00am
VU, CTP launch traffic awareness series

VU, CTP launch traffic awareness series

The Virtual University of Pakistan with the collaboration of City Traffic Police (CTP) has launched a series of traffic awareness here on Tuesday. This awareness series would be on aired on its Virtual Television Network. In this regard a simple but impre
Published 09 Feb, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (February 08, 2011).

Published 09 Feb, 2011 12:00am
Pakistan urges Saarc to jointly fight terrorism, narcotics

Pakistan urges Saarc to jointly fight terrorism, narcotics

Foreign Secretary Salman Bashir urged the Saarc member states to join hands for eliminating menace of terrorism and narcotics from the region. Addressing the Saarc Council of Ministers meeting here, the Foreign Secretary noted that over recent years, the
Published 09 Feb, 2011 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 09 Feb, 2011 12:00am
Security forces kill 10 extremists in Orakzai

Security forces kill 10 extremists in Orakzai

Security forces on Tuesday killed ten Taliban militants as gunship bombarded rebels hideouts near Afghan border in Upper Orakzai agency official said. The security forces targeted militants' hideouts in Upper Orakzai tribal area, a stronghold of the insur
Published 09 Feb, 2011 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 09 Feb, 2011 12:00am
Polio eradication: Aseefa Bhutto lauds Bill Gates' contribution

Polio eradication: Aseefa Bhutto lauds Bill Gates' contribution

Pakistan's Goodwill Ambassador for Polio Eradication and daughter of President Asif Ali Zardari, Aseefa Bhutto Zardari on Tuesday lauded the generous contributions of Bill Gates towards making Pakistan a polio free country through his Bill and Melinda Gat
Published 09 Feb, 2011 12:00am
Berlin-based NGO to construct school in Swat

Berlin-based NGO to construct school in Swat

Berlin-based German Aid for Afghan Children (GAAC) to construct a school for flood affected children in Kaidaam, district Swat, saying negotiations with the government was in progress. This was stated by Country Director of the organisation, Engineer Alam
Published 09 Feb, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (February 08, 2011).

Published 09 Feb, 2011 12:00am
'12 cusecs of water from Indus not sufficient for Karachi'

'12 cusecs of water from Indus not sufficient for Karachi'

The water supply quota of 12 cusecs from Indus source has become short to meet Karachi's demand and the government needs to increase it on priority, this was stated by Managing Director, Karachi Water and Sewerage Board (KWSB), Misbah Uddin Farid.
Published 09 Feb, 2011 12:00am
The Weather

The Weather

The weather report on Tuesday (February 08, 2011) and the forecast for Wednesday (February 09, 2011).

Published 09 Feb, 2011 12:00am
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