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Archive - 2011-02-10
Ferrari enjoyed record year in 2010
Top News

Ferrari enjoyed record year in 2010

MILAN: Italian sports car maker Ferrari said Thursday that 2010 was "an exceptional year" with a record number of vehi
Published 10 Feb, 2011 06:28pm
India aims to make own commercial plane
Top News

India aims to make own commercial plane

BANGALORE: India said Thursday it aims to start making its own commercial aircraft in a bid to cash on a boom in the dom
Published 10 Feb, 2011 05:07pm
Toyota to build cars in Russian Far East
Top News

Toyota to build cars in Russian Far East

TOKYO: Toyota Motor will tie up with trading house Mitsui&Co and Russian automaker Sollers to assemble passenger cars
Published 10 Feb, 2011 04:14pm
Hussey 'shocked' by Cup omission
Sports

Hussey 'shocked' by Cup omission

SYDNEY: Mike Hussey said he was shocked and disappointed to be left behind as Australia's squad left for the World Cup
Published 10 Feb, 2011 03:24pm
Dollar gains ground in Asia
Financial

Dollar gains ground in Asia

TOKYO: The dollar rose against the yen in Asia on Thursday, supported by Japanese importers' purchases following cautiou
Published 10 Feb, 2011 08:15am
The white bulls aggressive stomp
BR Research

The white bulls aggressive stomp

Import and export of agricultural commodities have always been a case of ill-thought policies in Pakistan. These days, cotton comes up as a
Published 10 Feb, 2011 12:00am
Board meetings in progress

Board meetings in progress

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

Published 10 Feb, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 10 Feb, 2011 12:00am
Pakistan officials hopeful on held American spat

Pakistan officials hopeful on held American spat

Aides to Pakistan's president expressed confidence Wednesday that Islamabad and Washington can amicably resolve a diplomatic crisis over a former US Special Forces soldier held in the shooting deaths of two Pakistanis. None, however, would directly respon
Published 10 Feb, 2011 12:00am
Pakistan officials hopeful on held American spat

Pakistan officials hopeful on held American spat

Aides to Pakistan's president expressed confidence Wednesday that Islamabad and Washington can amicably resolve a diplomatic crisis over a former US Special Forces soldier held in the shooting deaths of two Pakistanis. None, however, would directly respon
Published 10 Feb, 2011 12:00am
'Visas to Americans issued with authorisation'

'Visas to Americans issued with authorisation'

The Pakistani embassy in Washington has issued visas to all Americans with due authorisation, Islamabad's ambassador to the United States Husain Haqqani said. He said the number of visas issued to Americans in each of the last four years has been roughly
Published 10 Feb, 2011 12:00am
'Visas to Americans issued with authorisation'

'Visas to Americans issued with authorisation'

The Pakistani embassy in Washington has issued visas to all Americans with due authorisation, Islamabad's ambassador to the United States Husain Haqqani said. He said the number of visas issued to Americans in each of the last four years has been roughly
Published 10 Feb, 2011 12:00am
Strong economic ties between Pakistan, Bosnia urged

Strong economic ties between Pakistan, Bosnia urged

Punjab Chief Minister Muhammad Shahbaz Sharif has stressed for strong economic ties between Pakistan and Bosnia Herzegovina; there are vast opportunities of investment in Punjab and Bosnia, and Punjab can launch joint ventures in various sectors, includin
Published 10 Feb, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (February 09, 2011).

Published 10 Feb, 2011 12:00am
Mother of Chaudhry Nisar Ali Khan passes away

Mother of Chaudhry Nisar Ali Khan passes away

The mother of Leader of the Opposition in the National Assembly, Chaudhry Nisar Ali Khan died here on Wednesday. She was 90. Her funeral will be held in Chakri Village, Chakri Interchange at 11:30 am.
Published 10 Feb, 2011 12:00am
President, Prime Minister condole death

President, Prime Minister condole death

President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani on Wednesday expressed grief and sorrow over the demise of mother of Chaudhry Nisar Ali Khan, leader of the opposition in National Assembly.
Published 10 Feb, 2011 12:00am
Regulators criticised for weak monetary policy

Regulators criticised for weak monetary policy

The regulators have failed to make a tangible difference as the government has completely overlooked their prescribed role, said former Chairman of Competition Commission of Pakistan (CCP), Khalid Mirza while delivering a lecture on the "Role of Regulator
Published 10 Feb, 2011 12:00am
Government urged to abolish taxes on gemstones industry

Government urged to abolish taxes on gemstones industry

Chairman Executive Committee Gems and Gemological Institute of Pakistan (GGIP) Zia-ul-Haq Sarhadi has asked the government to abolish income and sales taxes on import of gemstones from Afghanistan to give boost to the industry and encourage more investmen
Published 10 Feb, 2011 12:00am
Preparation for Eid Milad-un-Nabi in full swing

Preparation for Eid Milad-un-Nabi in full swing

Preparations for celebrating Eid-e-Milad-un-Nabi (PBUH) are in full swing and roads and buildings are being decorated with colourful buntings, banners and fancy lights in Sialkot district.
Published 10 Feb, 2011 12:00am
THE RUPEE: dollar under pressure

THE RUPEE: dollar under pressure

The dollar was under pressure against the rupee on both the interbank and open market on Wednesday, dealers said. The dollar failed to come out of the woods as the rupee extended its overnight gains, rising by 10 paisa for buying at 85.15 and rising by ei
Published 10 Feb, 2011 12:00am
Greek citizen's body found

Greek citizen's body found

A body of a Greek citizen was found in the limits of airport police station on Wednesday. According to police, a Greek citizen namely Imerrdistrismitfy-lalos, 50 arrived at Jinnah International Airport on Tuesday at 6.30 pm and stayed in local hotel locat
Published 10 Feb, 2011 12:00am
THE RUPEE: dollar under pressure

THE RUPEE: dollar under pressure

The dollar was under pressure against the rupee on both the interbank and open market on Wednesday, dealers said. The dollar failed to come out of the woods as the rupee extended its overnight gains, rising by 10 paisa for buying at 85.15 and rising by ei
Published 10 Feb, 2011 12:00am
Condolence

Condolence

Deputy Speaker, Punjab Assembly Rana Mashhood Ahmad Khan has expressed deep sense of sorrow over the sad demise of the mother of Chaudhry Nisar Ali Khan, Leader of the Opposition in the National Assembly.
Published 10 Feb, 2011 12:00am
Government striving to control fiscal deficit: Hafeez Shaikh

Government striving to control fiscal deficit: Hafeez Shaikh

Federal Minister for Finance, Dr Abdul Hafeez Shaikh here on Wednesday said that government was striving hard to minimise the fiscal deficit for the growth of national economy. Talking to media after a meeting of Parliamentary Committees of Pakistan Peopl
Published 10 Feb, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (February 09, 2011).

Published 10 Feb, 2011 12:00am
DCOs asked to resolve problems of flood victims

DCOs asked to resolve problems of flood victims

Chief Minister Sindh, Syed Qaim Ali Shah, has directed the DCOs in the province particularly those who are engaged in rehabilitation of flood affected areas to pay full attention towards solving the problems and grievances of flood affectees in a befittin
Published 10 Feb, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (February 09, 2011).

Published 10 Feb, 2011 12:00am
Broadening the tax base: FBR obtains rich people's data from Nadra

Broadening the tax base: FBR obtains rich people's data from Nadra

The Federal Board of Revenue (FBR) has initially obtained data of a few hundred rich including their assets' details and properties from National and Database Registration Authority (Nadra), for broadening the tax-base. Sources told Business Recorder <
Published 10 Feb, 2011 12:00am
Partisan interests versus sound economic goals

Partisan interests versus sound economic goals

Pakistan's top corporates - national and multinational - have expressed a profound sense of anguish and dismay over present economic drift with a hope that the dialogue between political parties would lead to crystallise into a greater consensus on a nati
Published 10 Feb, 2011 12:00am
Shahalam market fire

Shahalam market fire

The devastating Shahalam market blaze, said to be result of an electrical short-circuit at 10-storey Bahria Commercial Centre early on Monday engulfed 11 mini markets, including seven plazas, 250 shops and 50 houses, in the dense commercial zone, leaving
Published 10 Feb, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (February 09, 2011).

Published 10 Feb, 2011 12:00am
Viewpoint: The case of Raymond Davis

Viewpoint: The case of Raymond Davis

The US is displaying its trademark arrogance of power to pressure the federal and Punjab governments for the release of Raymond Davis-actually a fictitious name - the man who shot dead two young Pakistanis on a busy Lahore street because of an imagined or
Published 10 Feb, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (February 09, 2011) and for Thursday (February 10, 2011).
Published 10 Feb, 2011 12:00am
Tax avoidance versus tax evasion issues: analytical study

Tax avoidance versus tax evasion issues: analytical study

Tax avoidance vs. tax evasion has always been a hotly debated issue. Gradually, tax laws have been so reconstituted that the possibility of legal tax avoidance have been decreased. And today, the difference between tax avoidance and tax evasion is very na
Published 10 Feb, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (February 09, 2011).

Published 10 Feb, 2011 12:00am
We must not slip back into protectionism

We must not slip back into protectionism

We live in a world where we are more connected than ever before. The UK is linked to Pakistan through ties of business, friendship, and a wealth of common interests. These international connections offer huge potential for growth in trade and investment,
Published 10 Feb, 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 Wednesday (February 09, 2011).

Published 10 Feb, 2011 12:00am
OGDCL clarification

OGDCL clarification

Apropos a news item appeared in Business Recorder, under the caption "OGDC amazes NA body", on 3rd February 2011, the factual position is as follow: Ministry of Petroleum and Natural Resources had been allocating quota of LPG production from OGDCL before
Published 10 Feb, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 10 Feb, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 10 Feb, 2011 12:00am
Litigation hampering TMA's properties evacuation: minister

Litigation hampering TMA's properties evacuation: minister

Senior Minister, Khyber Pakhtunkhwa Bashir Ahmad Bilour on Wednesday told the provincial assembly that large number of cases hampering the evacuation of the Town Municipal Administration (TMA) properties from old lease holders.
Published 10 Feb, 2011 12:00am
Two dacoits beaten to death by angry mob

Two dacoits beaten to death by angry mob

At least two dacoits were beaten to death while one critically injured by angry mob in the area of Pirabad police station. According to police, some three robbers out of six received bullets wounds by the shopkeeper Muhammad Riaz Anwar when they tried to
Published 10 Feb, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (February 09, 2011).

Published 10 Feb, 2011 12:00am
'MQM not to join new cabinet'

'MQM not to join new cabinet'

Muttahida Qaumi Movement (MQM) leader Haider Abbas Rizvi Wednesday said that the party would not join new federal cabinet. Talking in a private TV channel programme, he said the Prime Minister had called MQM leader Altaf Hussain and informed him about red
Published 10 Feb, 2011 12:00am
The Weather

The Weather

The weather report on Wednesday (February 09, 2011) and the forecast for Thursday (February 10, 2011).

Published 10 Feb, 2011 12:00am
Jamaat-i-Islami submits adjournment motion on PIA

Jamaat-i-Islami submits adjournment motion on PIA

Jamaat-i-Islami on Wednesday submitted an adjournment motion to Senate Secretariat demanding debate of the House on 'Record of Discussion' (RoD) signed by Pakistan International Airlines (PIA) with Turkish Airlines, sparking country-wide protests of the e
Published 10 Feb, 2011 12:00am
PPP leader felicitates Barrister Masood Kausar

PPP leader felicitates Barrister Masood Kausar

Punjab Minister for Population Welfare and PPP leader, Neelam Jabbar Chaudhry has congratulated the Governor-designate Khyber Pakhtunkhwa Barrister Masood Kausar. Neelam appreciated the nomination of Barrister Masood Kausar as Governor and said: "His serv
Published 10 Feb, 2011 12:00am
Rain may start from tomorrow in Balochistan, Khyber Pakhtunkhwa

Rain may start from tomorrow in Balochistan, Khyber Pakhtunkhwa

Another spell of scattered rain and snow over the hills has been predicted from February 11 to 16 over different parts of the country. According to the Pakistan Meteorological Department Lahore here on Wednesday, another weather system of moderate intensi
Published 10 Feb, 2011 12:00am
Canadian trade mission calls on UVAS vice chancellor

Canadian trade mission calls on UVAS vice chancellor

A two-member Canadian trade delegation mission called upon University of Veterinary and Animal Sciences (UVAS) Vice-Chancellor Professor Dr Muhamad Nawaz and discussed the prospects of development of livestock sector and both countries can collaborate to
Published 10 Feb, 2011 12:00am
Minister enquires after health of TV artist

Minister enquires after health of TV artist

Punjab Minister for Culture and Youth Affairs Dr Tanvir-ul-Islam visited the Services Hospital to enquire about the health of renowned film, TV and stage artist Ghayoor Akhtar who is now a days under treatment in the hospital. Dr Tanvir remained with the
Published 10 Feb, 2011 12:00am
Negotiations between JAC, PALPA remain inconclusive

Negotiations between JAC, PALPA remain inconclusive

The negotiation between joint Action Committee of government and representatives of PALPA remained inconclusive on Wednesday when latter sought more time for consultation. The Joint Action Committee comprising Syed Khurshid Ahi Shah and Ahmed Mukhtar met
Published 10 Feb, 2011 12:00am
Missing doctor: LHC gives last chance to SP CIA

Missing doctor: LHC gives last chance to SP CIA

The Lahore High Court has given last chance to SP CIA to trace missing doctor of Jinnah Hospital Lahore, Dr Ali Abdullah till February 24. Earlier SP (CIA) Umar Virk submitted that he could not find out anything about the whereabouts of Dr Ali and sought
Published 10 Feb, 2011 12:00am
Minister takes notice of unregistered cotton seeds in market

Minister takes notice of unregistered cotton seeds in market

Punjab Minister for Agriculture, Malik Ahmad Ali Aulakh taking strict notice of presence of unregistered cottonseeds in the market, has directed the Director General Federal Seed Certification and Registration Department to take action against it.
Published 10 Feb, 2011 12:00am
Jamaat-i-Islami to take decision after examining agenda

Jamaat-i-Islami to take decision after examining agenda

Federal Interior Minister, Rehman Malik rang up Jamaat-i-Islami, Secretary General, Liaquat Baluch on Wednesday to convey that President Asif Ali Zardari desired to personally contact the JI chief, Syed Munawar Hasan, and invited him to the Round Table Co
Published 10 Feb, 2011 12:00am
ANP backs Zardari's call for Roundtable Conference

ANP backs Zardari's call for Roundtable Conference

Awami National Party (ANP) on Wednesday announced its backing to President Asif Ali Zardari's call for the Round Table Conference to bring the nation out of economic crisis and continued terrorism. In the absence of President ANP, Asfandyar Wali Khan for
Published 10 Feb, 2011 12:00am
Zardari phones Nawaz, other political leaders

Zardari phones Nawaz, other political leaders

As part of consultative process for an all parties conference President Asif Ali Zardari Wednesday telephoned Mian Nawaz Sharif, Shahid Bugti, Dr Abdul Malik and Israrullah Zehri. The President also called again Asfandyar Wali. Earlier the President invit
Published 10 Feb, 2011 12:00am
Stock investors concerned about fate of foreign activity

Stock investors concerned about fate of foreign activity

With thin volumes and absence of any major trigger in the short run, there is a growing concern among the investors of Pakistan stock about the fate of foreign activity amid record selling in emerging markets, analysts said.
Published 10 Feb, 2011 12:00am
PSO posts 40 percent rise in half-yearly profit

PSO posts 40 percent rise in half-yearly profit

The profit after tax of Pakistan State Oil Company (PSO) increased by 40 percent to the highest ever level of Rs 7.13 billion in the half-year period ended on December 31, 2010 as compared to Rs 5.083 billion earned in the corresponding period in 2009. Th
Published 10 Feb, 2011 12:00am
PSO posts 40 percent rise in half-yearly profit

PSO posts 40 percent rise in half-yearly profit

The profit after tax of Pakistan State Oil Company (PSO) increased by 40 percent to the highest ever level of Rs 7.13 billion in the half-year period ended on December 31, 2010 as compared to Rs 5.083 billion earned in the corresponding period in 2009. Th
Published 10 Feb, 2011 12:00am
Roundtable an attempt to buy more time: PML-N

Roundtable an attempt to buy more time: PML-N

The main opposition party of the country, Pakistan Muslim League-N has termed President Asif Ali Zardari's proposal for a roundtable conference of the political and religious parties to discuss "important national issues" as "a new joke and an attempt to
Published 10 Feb, 2011 12:00am
UK conference on 'Doing Business in Pakistan' begins today

UK conference on 'Doing Business in Pakistan' begins today

After having announced its recipe for global economic growth through trade and investment, the British government is organising a conference in UK on Thursday for increased investment opportunities into Pakistan by encouraging UK companies.
Published 10 Feb, 2011 12:00am
Spring Tree Plantation Campaign 2011: CDA to plant 500,000 saplings

Spring Tree Plantation Campaign 2011: CDA to plant 500,000 saplings

As a part of National Tree Plantation Drive, the Capital Development Authority (CDA) would plant 500,000 saplings during the Spring Tree Plantation Campaign 2011. The CDA is making all-out efforts to increase the green cover and preserve the green charact
Published 10 Feb, 2011 12:00am
Need for improving immunisation in Pakistan stressed

Need for improving immunisation in Pakistan stressed

Speakers at a seminar have underlined the need for improving immunisation in Pakistan and the Draft Compulsory Immunisation Bill to avert diseases like polio. Speaking at PILDAT arranged Legislative Forum titled "On Critical need to improve Immunisation i
Published 10 Feb, 2011 12:00am
'Businessmen urged to use Kyrgyzstan liberal laws'

'Businessmen urged to use Kyrgyzstan liberal laws'

Central Asian countries are among the most emerging economies of Asia and a huge potential exist there to be explored, briefed Talat Mahmood in a meeting with Alik Orozov, Ambassador of the Republic of Kyrgyzstan. Talat called the business community to ef
Published 10 Feb, 2011 12:00am
'CNG stations be allowed facility of petrol fuelling'

'CNG stations be allowed facility of petrol fuelling'

Vice President Karachi Chamber Of Commerce and Industry (KCCI) and Central Chairman, All Pakistan CNG Association, Junaid Esmail Makda has suggested that all CNG station in the country be allowed facility of petrol fuelling.
Published 10 Feb, 2011 12:00am
High urea prices to reduce agriculture production: KBP

High urea prices to reduce agriculture production: KBP

Kisan Board Pakistan (KBP) leadership has claimed that fertiliser application had reduced very much due to daily increase in prices of urea fertilisers, which may result in one third reduction in the agricultural production.
Published 10 Feb, 2011 12:00am
Cop killed in a scuffle with land mafia

Cop killed in a scuffle with land mafia

A policeman was killed and three others including DSP Sohrab Goth Iftikhar Lodhi were injured in a scuffle with land mafia at Superhighway here on Wednesday. According to police sources, the Sindh High Court (SHC) had directed the police to evacuate seven
Published 10 Feb, 2011 12:00am
LHC directs D&SJ to relinquish charge of special judge

LHC directs D&SJ to relinquish charge of special judge

The Lahore High Court (LHC) here Wednesday directed D&SJ Muhammad Mansoor Zaman to relinquish charge of special judge (central) Rawalpindi immediately. In a directive issued to Special Judge D&SJ Muhammad Mansoor Zaman, the LHC Registrar said the governme
Published 10 Feb, 2011 12:00am
President kicks off spring tree plantation drive

President kicks off spring tree plantation drive

President Asif Ali Zardari on Wednesday launched the spring tree plantation campaign by planting a sapling of lychee at Aiwan-e-Sadr. Spokesperson to the President Farhatullah Babar said the President urged the nation to make Pakistan green and environmen
Published 10 Feb, 2011 12:00am
Toyota Motors opens fitness certification centre

Toyota Motors opens fitness certification centre

Federal Secretary Environment Khawja Muhammad Naeem has said that ENERCON has succeeded in obtaining important policy directives at the highest level for enhancing the energy conservation potential in all sectors of the economy by providing conducive envi
Published 10 Feb, 2011 12:00am
'Bacha Khan Khapal Rozgar Scheme' formally launched

'Bacha Khan Khapal Rozgar Scheme' formally launched

Chief Minister Khyber Pakhtunkhwa Ameer Haider Khan Hoti formally launched 'Bacha Khan Khapal Rozgar Scheme' worth rupees one billion, in a simple but impressive gathering at the Chief Minister's House on Wednesday. Under the scheme, interest-free loans o
Published 10 Feb, 2011 12:00am
KU student accused of manhandling an elderly teacher

KU student accused of manhandling an elderly teacher

A student of Karachi University reportedly manhandled an elderly professor of Jinnah Government College here the other day. It was said that he (the student) did this to show his anger over the professor who tried to stop him from cheating during the exam
Published 10 Feb, 2011 12:00am
Zambian lady passenger held, 2kg of heroin seized

Zambian lady passenger held, 2kg of heroin seized

Drug Enforcement Cell (DEC) of Pakistan Customs Karachi Airport Unit recovered 2 kilograms of heroin from the possession of a Zambian lady passenger. According to details, the DEC staff, on a tip off that underground mafia had been using African lady pass
Published 10 Feb, 2011 12:00am
Karachi Transportation Improvement project: EMC organises seminar

Karachi Transportation Improvement project: EMC organises seminar

A seminar on Karachi Transportation Improvement project (Social Environment Component) was held here on Wednesday. It was organised by Environmental Management Consultants (EMC) in collaboration with Karachi City District Government (CDGK) and Japan Inter
Published 10 Feb, 2011 12:00am
Blast near cattle market in Charsadda kills one person

Blast near cattle market in Charsadda kills one person

A blast near cattle market on Wednesday killed one person and injured several others in Charsadda district, Police said. Police said the bomb was planted in the donkey cart that exploded with big bang near Qazi Pull where weekly cattle market located. The
Published 10 Feb, 2011 12:00am
'CCP's compliance-oriented approach showing positive results'

'CCP's compliance-oriented approach showing positive results'

The Chairperson of Competition Commission of Pakistan (CCP), Rahat Kaunain Hassan on Wednesday informed the Competition Consultative Group (CCG) that the Commission's compliance-oriented approach and lenient treatment towards undertakings, willing to corr
Published 10 Feb, 2011 12:00am
Rehman meets Fazl

Rehman meets Fazl

Interior Minister Rehman Malik on Wednesday met Maulana Fazlur Rehman, Chief of Jamiat Ulam-e-Islam (F) at his residence and discussed matters related to prevailing political and law & order situation in the country with special reference to Rabi-ul-Awwal
Published 10 Feb, 2011 12:00am
Non- compliant members of stock exchange: SMD issues two letters

Non- compliant members of stock exchange: SMD issues two letters

As a part of surveillance and monitoring activities, in January the Securities Market Division (SMD) of the Securities and Exchange Commission of Pakistan issued two warning letters to non-compliant members of the stock exchange for execution of blank sal
Published 10 Feb, 2011 12:00am
IGI Funds Limited assigned Management Quality Rating

IGI Funds Limited assigned Management Quality Rating

JCR-VJS Credit Rating Company Limited (JCR-VIS) has assigned Management Quality Rating of 'AM2-' (AM-Two Minus) to IGI Funds Limited (IGIFL). Outlook on the assigned rating is 'Stable'. The assigned rating takes into account the sound governance structure
Published 10 Feb, 2011 12:00am
IGI Funds Limited assigned Management Quality Rating

IGI Funds Limited assigned Management Quality Rating

JCR-VJS Credit Rating Company Limited (JCR-VIS) has assigned Management Quality Rating of 'AM2-' (AM-Two Minus) to IGI Funds Limited (IGIFL). Outlook on the assigned rating is 'Stable'. The assigned rating takes into account the sound governance structure
Published 10 Feb, 2011 12:00am
UNFPA to provide financial assistance to upgrade RHCs in Punjab

UNFPA to provide financial assistance to upgrade RHCs in Punjab

The United Nations Fund for Population Affairs (UNFPA) would extend full co-operation to the Punjab government for further improving health facilities in the rural areas of the province and would also provide financial assistance for making the rural heal
Published 10 Feb, 2011 12:00am
Petitions challenging Zardari's dual office: LHC adjourns hearing

Petitions challenging Zardari's dual office: LHC adjourns hearing

A full bench of the Lahore High Court here Wednesday adjourned to February 14 the proceedings in several identical petitions challenging holding of dual office by President Asif Ali Zardari. The bench headed by Chief Justice Ijaz Ahmad Chaudhry for hearin
Published 10 Feb, 2011 12:00am
Rotary Club working for elimination of Tuberculosis

Rotary Club working for elimination of Tuberculosis

Rotary Club is making all out efforts to provide proper treatment to poor TB patients and elimination of TB disease from the country, said renowned Rotarian/Chairman PASBAN IT Group Major Shahnawaz during the visit of the local TB hospital being run under
Published 10 Feb, 2011 12:00am
Work on new pipelines in Defence reviewed: CBC meeting held

Work on new pipelines in Defence reviewed: CBC meeting held

The special meeting of Cantonment Board Clifton (CBC) was held at CBC office. Station Commander 5 Corps Brigadier Anis Ahmed, who is also the President Cantonment Board, presided over the meeting. Cantonment Executive Officer (CEO) Muhammad Hayat Mahar wa
Published 10 Feb, 2011 12:00am
Bosnia a gateway to EU international trade markets: envoy

Bosnia a gateway to EU international trade markets: envoy

Bosnia and Herzegovina Ambassador to Pakistan Armin Limo has said that there was a bright scope of establishing joint ventures in different trade fields between Bosnia and Pakistani business community. Addressing the members of Sialkot Chamber of Commerce
Published 10 Feb, 2011 12:00am
Chicken prices up by Rs 30 per kg within three days

Chicken prices up by Rs 30 per kg within three days

Price of chicken meat has increased by Rs 30 per kilogram in three days due to Eid-e-Milad-un-Nabi festivities and beginning of marriage season in Punjab. It has risen from Rs 135 per kg to Rs 166 per kg in retail market of the provincial capital without
Published 10 Feb, 2011 12:00am
LCCI for strengthening of institutions

LCCI for strengthening of institutions

The Lahore Chamber of Commerce and Industry (LCCI) has stressed the need for strengthening of institutions and consistency in policies to achieve economic stability, progress and prosperity.
Published 10 Feb, 2011 12:00am
Three explosions at police offices rock Gujranwala

Three explosions at police offices rock Gujranwala

Three blasts at the offices of police rocked the Gujranwala city on Wednesday, however only four persons were injured in these incidents. First explosion took place outside CIA Center building; second occurred near SP Special Branch office, while the thir
Published 10 Feb, 2011 12:00am
'Gas shortage will plunge upcountry textile exports into disaster'

'Gas shortage will plunge upcountry textile exports into disaster'

Severe shortage of gas would plunge the upcountry textile exports into disaster, and closure of industrial units will bring jobless labour on the roads, causing industrial unrest and worsening law and order situation in the textile hub of Pakistan.
Published 10 Feb, 2011 12:00am
LHC seeks reports from Punjab Home Secretary, police

LHC seeks reports from Punjab Home Secretary, police

The Lahore High Court (LHC) here on Wednesday sought report from Home Secretary Punjab and police high-ups in a writ petition of PML-Q Punjab-chapter general secretary and leader of opposition Chaudhry Zaheerudin challenging police action against his part
Published 10 Feb, 2011 12:00am
Corps Commanders' conference held

Corps Commanders' conference held

Under the chair of Chief of Army Staff General Ashfaq Parvez Kayani, Corp Commander Rawalpindi's conference held at General Headquarters (GHQ) on Wednesday. The conference discussed the different challenges being faced by the country and the professional
Published 10 Feb, 2011 12:00am
TESCO to keep an eye on new industrial connections

TESCO to keep an eye on new industrial connections

Chief Executive Officer, Tribal Electricity Supply Company (TESCO), Pervez Khankhel Swati has directed Deputy Manager Operation of the company to keep an eye on sanctioning of new industrial connections in FATA. Addressing a high level meeting of TESCO of
Published 10 Feb, 2011 12:00am
Tank by-election: 26 in the run

Tank by-election: 26 in the run

Returning Officer on Wednesday issued final list of the contesting candidates for by-election PK 69, Tank, according to which 26 candidates were declared as eligible for contesting the election. As many as 36 candidates filed nomination papers to contest
Published 10 Feb, 2011 12:00am
Slaughtered family laid to rest

Slaughtered family laid to rest

All the nine family members who were slaughtered in Basti Makhdoom, Qadirabad were laid to rest at local graveyard on Wednesday. A large number of people including relatives of the deceased, notables of the areas and other people attended the funeral pray
Published 10 Feb, 2011 12:00am
Rs 1.61 billion released for textile support schemes

Rs 1.61 billion released for textile support schemes

The Textile Ministry Wednesday released Rs 1.61 billion for its various on-going support schemes for the development of textile sector, as envisaged in the Textile Policy 2009. The Textile Ministry has already released Rs 4,825 out of original allocation
Published 10 Feb, 2011 12:00am
'Effective steps being taken for safe road environment in Capital'

'Effective steps being taken for safe road environment in Capital'

Effective measures are being taken not only to curb car lifting incidents, but also to ensure safe road environment in the Federal Capital, said Wajid Ali Khan Durrani, Inspector General of Police (IGP) Islamabad here on Wednesday.
Published 10 Feb, 2011 12:00am
Khyber Pakhtunkhwa identifies site to set up Carpet Nagar

Khyber Pakhtunkhwa identifies site to set up Carpet Nagar

Khyber Pakhtunkhwa Minister for Information, Culture and IPC, Mian Iftikhar Hussain has said that there was vast business of carpet in the Khyber Pakhtunkhwa therefore 'Carpet Nagar' would be set up in the province. He added that site for the proposed car
Published 10 Feb, 2011 12:00am
Comprehensive programme chalked out for Eid Milad

Comprehensive programme chalked out for Eid Milad

A comprehensive programme has been chalked out for celebrations of Eid Milad-Un-Nabi (SAWW). There will be "Public Holiday" on 12th Rabi-ul-Awwal throughout the province.
Published 10 Feb, 2011 12:00am
Foreign delegation visits LUMS

Foreign delegation visits LUMS

Bryan J. Tumburro, Senior Director for Strategic Initiatives, H. John Heinz III College, Carnegie Mellon University visited Lahore University of Management Sciences (LUMS) on Wednesday, 9th February 2011 and met the Vice Chancellor, Director Marketing and
Published 10 Feb, 2011 12:00am
Ministry fails to settle Capital-provinces water sharing issue

Ministry fails to settle Capital-provinces water sharing issue

The Ministry of Inter-provincial Co-ordination has failed in settling the water sharing issue between provinces and Federal Capital, which has haunted the execution of Ghazi Barotha Water Supply Scheme for the twin cities of Islamabad and Rawalpindi.
Published 10 Feb, 2011 12:00am
Gilani for inking defence MoU with Kenya

Gilani for inking defence MoU with Kenya

Prime Minister Yousuf Raza Gilani on Wednesday proposed for signing a Memorandum of Understan-ding between Pakistan and Kenya for enhanced co-operation in the field of defence. Talking to General Jeremiah Mutinda Kiang, Kenyan Chief of General Staff who c
Published 10 Feb, 2011 12:00am
All set to legislate tourism, mineral deposits

All set to legislate tourism, mineral deposits

Gilgit-Baltistan Legislative Assembly (GBLA) was all set to legislate tourism and mineral deposits, as the GB Council had finalised its recommendations for awarding both sectors the status of corporations, Assistant Director Tourism Iqbal said. Talking to
Published 10 Feb, 2011 12:00am
Model chemistry exhibition at UoP

Model chemistry exhibition at UoP

Model Chemistry exhibition was held at University of Peshawar (UoP) under the auspices of Institute of Chemical Sciences. A total of forty stalls from various colleges and institutions were on display. Around one hundred and fifty projects relating to the
Published 10 Feb, 2011 12:00am
US MIDDAY: gold edges up

US MIDDAY: gold edges up

Gold inched up on Wednesday as the dollar fell and after Federal Reserve Chairman Ben Bernanke said he has no plans to scrap a massive bond-buying program, suggesting interest rate will not rise anytime soon. Bernanke told Congress that US unemployment is
Published 10 Feb, 2011 12:00am
US MIDDAY: copper plunges

US MIDDAY: copper plunges

Copper ended down after falling to its lowest level in over one week on Wednesday, as prices continued to back away from records hit earlier this week amid concerns about high inflation and tepid demand in China. Since touching all-time highs at $10,160 p
Published 10 Feb, 2011 12:00am
US MIDDAY: grain futures up

US MIDDAY: grain futures up

Grain futures on the Chicago Board of Trade rose on Wednesday, led by corn after the government projected much slimmer US corn stocks than the market had expected, with a record amount of this year's crop going to ethanol production, traders said. Soyabea
Published 10 Feb, 2011 12:00am
US MIDDAY: coffee climbs

US MIDDAY: coffee climbs

Arabica coffee futures surged to close at the highest level in 13-1/2 years on Wednesday, on heavy spreading and fund buying. Raw sugar reversed and also closed positive while US cocoa climbed on March/May spreads. The March raw sugar contract rose 0.34 c
Published 10 Feb, 2011 12:00am
Gold holds near three-week highs in Europe

Gold holds near three-week highs in Europe

Gold nudged three-week highs on Wednesday, supported by an increased focus on inflation after China's second interest rate hike in six weeks and residual interest in the metal as a haven. Spot gold was bid at $1,363.20 an ounce at 1612 GMT, against $1,363
Published 10 Feb, 2011 12:00am
Gold hardly moves in Asia

Gold hardly moves in Asia

Gold was barely changed on Wednesday, after rising 1 percent in the previous session, as investors and other physical buyers in Asia hugged the sidelines following China's second interest rate increase in just over six weeks. Spot gold hardly moved at $1,
Published 10 Feb, 2011 12:00am
US gold 1.2 percent higher

US gold 1.2 percent higher

US gold futures ended up more than 1 percent on Tuesday, touching a near three-week high on inflation fears and a technical breakout after key resistance at 100-day moving average was breached. COMEX April gold futures settled up $15.90 or 1.2 percent at
Published 10 Feb, 2011 12:00am
Liffe robusta nears 2-1/4 year peak

Liffe robusta nears 2-1/4 year peak

Liffe May robusta coffee climbs $29 to $2,254 a tonne on Wednesday, below its 2-1/4-year high of $2,287. Market infected by arabica's surge to a fresh 13-1/2-year high on the back of spread dealing, fund buying and a lack of origin selling. Liffe March wh
Published 10 Feb, 2011 12:00am
US soyabean rallies

US soyabean rallies

Soyabean futures on the Chicago Board of Trade closed higher on Tuesday, climbing in late trading after front-month March triggered buy-stops and closed near session highs, traders said. Funds turned buyers in the afternoon, purchasing an estimated 5,000
Published 10 Feb, 2011 12:00am
New York sugar tumbles

New York sugar tumbles

Raw sugar futures tumbled Tuesday after China's decision to raise interest rates for the second time in over a month, spurring a commodity-wide selling spree in the volatile market. Coffee futures weakened as well, but cocoa futures ran up as market parti
Published 10 Feb, 2011 12:00am
Malaysian palm oil at fresh three-year high

Malaysian palm oil at fresh three-year high

Malaysian palm oil futures jumped to a fresh three-year high on Wednesday as traders bet on further tightening of supplies and strong economic growth underscored by China's surprise rate move. On Tuesday, China, the world's No 2 vegetable oil buyer, raise
Published 10 Feb, 2011 12:00am
Brent near $102

Brent near $102

Brent crude rose near $102 a barrel on Wednesday as unrest in Egypt kept investors worried about potential supply disruptions, while rising US inventories weighed on US oil prices. US government data showed domestic crude inventories rose 1.9 million barr
Published 10 Feb, 2011 12:00am
Tokyo rubber hits new peak

Tokyo rubber hits new peak

Tokyo rubber futures rose to a new record high on Wednesday on speculative buying backed by tight supply in producing countries, but China's move to curb inflation prevented prices from rising sharply further. The benchmark rubber contract on the Tokyo Co
Published 10 Feb, 2011 12:00am
Copper declines

Copper declines

Copper slipped on Wednesday, as worries higher interest rates in China could dampen industrial demand washed through the market, although a softer dollar lent support. Three-month copper on the London Metal Exchange was $9,925 a tonne from the closing $10
Published 10 Feb, 2011 12:00am
Shanghai copper steadies

Shanghai copper steadies

London copper fell almost 1 percent on Wednesday, while Shanghai futures were steady on the day, after week-long holidays which saw London metal hit a record high and Beijing raise interest rates for the second time in six weeks. Most active futures in Sh
Published 10 Feb, 2011 12:00am
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