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Archive - 2011-02-19
G20 agrees deal on economic indicators
Top News

G20 agrees deal on economic indicators

PARIS: The G20 developed and developing countries reached a deal Saturday on what indicators can be used to measure and
Published 19 Feb, 2011 05:10pm
At least 18 killed in Afghan bank attack
Top News

At least 18 killed in Afghan bank attack

JALALABAD: Gunmen and suicide bombers dressed as border police killed at least 18 people and wounded more than 70 in an
Published 19 Feb, 2011 04:41pm
Fauzia Wahab resigns after US remarks
Top News

Fauzia Wahab resigns after US remarks

ISLAMABAD: The spokeswoman for the ruling Pakistan People's Party resigned Saturday days after backing the claims of
Published 19 Feb, 2011 02:23pm
Bahrain opposition rejects talks offer
Top News

Bahrain opposition rejects talks offer

MANAMA: The Bahraini opposition on Saturday rejected an offer of dialogue from the authorities saying it would join talk
Published 19 Feb, 2011 11:10am
ATC reissues Musharraf arrest warrant
Top News

ATC reissues Musharraf arrest warrant

RAWALPINDI: Anti Terrorism Court (ATC) Saturday reissued an arrest warrant for former president Pervez Musharraf over th
Published 19 Feb, 2011 11:09am
Shipping activity at Port Qasim
Top News

Shipping activity at Port Qasim

KARACHI: Shipping activity remained active at the Port Qasim where two ships carrying containers were berthed at Qasim I
Published 19 Feb, 2011 10:48am
ATC reissues Musharraf arrest warrant
Top News

ATC reissues Musharraf arrest warrant

RAWALPINDI: Anti Terrorism Court (ATC) Saturday reissued an arrest warrant for former president Pervez Musharraf over
Published 19 Feb, 2011 08:08am
Bahrain heir pledges talks
Middle East

Bahrain heir pledges talks

MANAMA: Bahrain's crown prince has vowed to hold a national dialogue, after security forces opened fire on anti-regime p
Published 19 Feb, 2011 06:27am
Barath, Baugh out of World Cup

Barath, Baugh out of World Cup

Exciting opener Adrian Barath and wicketkeeper Carlton Baugh were Friday ruled out of the World Cup with injuries, dealing a fresh blow to the West Indies ahead of the mega event. "Medical specialists have determined that in both cases the players will no
Published 19 Feb, 2011 12:00am
Mumbai final venue breaks fire rules

Mumbai final venue breaks fire rules

Mumbai's expensively-refurbished Wankhede Stadium, which will host the World Cup final, has fallen foul of fire safety rules, the city's fire brigade chief said Friday. But Mumbai Cricket Association (MCA) joint-secretary Lalchand Rajput insisted that cha
Published 19 Feb, 2011 12:00am
Samaraweera tags Pakistan as dark horses

Samaraweera tags Pakistan as dark horses

Sri Lanka batsman Thilan Samaraweera described Pakistan as World Cup dangermen on Friday, praising the 1992 champions' game-breaking firepower. "I think Pakistan are really dark horses who can change the game any time. They have the firepower," said Samar
Published 19 Feb, 2011 12:00am
England win warm-up match

England win warm-up match

England's Kevin Pietersen and Paul Collingwood finally found some much-needed form as Pakistan were brushed aside by 67 runs in the final warm-up before the Cricket World Cup starts on Saturday. Pietersen, in an unaccustomed role as opener, hit 66 from 78
Published 19 Feb, 2011 12:00am
BQATI requests PQA to discontinue conservancy charges

BQATI requests PQA to discontinue conservancy charges

Mian Mohammad Ahmed, Patron-in-Chief/Founder President, Bin Qasim Association of Trade & Industry (BQATI) and Usman Ahmed, Founder Vice President has requested the Port Qasim Authority to discontinue conservancy charges, which is unnecessarily increasing
Published 19 Feb, 2011 12:00am
KEPZ exports on the rise, register 45 percent growth

KEPZ exports on the rise, register 45 percent growth

The exports from Karachi Export Processing Zone (KEPZ) show a record growth of 45 percent despite the economic recession. It indicates that Export Processing Zones Authority (EPZA) is doing well to fulfil its mandate to enhance the exports.
Published 19 Feb, 2011 12:00am
KPC-FCOC seminar on Faiz today

KPC-FCOC seminar on Faiz today

Karachi Press Club (KPC) and Faiz Centenary Organising Committee (FCOC) are jointly organising a seminar on Faiz Ahmed Faiz's intellectual work, his personality and political endeavours on Saturday (today). According to a press release issued here, well-k
Published 19 Feb, 2011 12:00am
Dawlance extends H-Zone Microwave Oven series

Dawlance extends H-Zone Microwave Oven series

Dawlance has announced a new addition to its H-Zone series of Microwave Ovens by introducing DW 391 HZ. This latest microwave oven is the 1st ever microwave oven to introduce 56 built-in recipes, which have been developed by Chef Gulzar in accordance with
Published 19 Feb, 2011 12:00am
Business community expresses concern over power tariff raise

Business community expresses concern over power tariff raise

The business community has expressed serious concerns about increase in power tariff in the head of fuel adjustment charges by National Electric Power Regulatory Authority (Nepra). They said this step is another nail in industry's coffin as the industry i
Published 19 Feb, 2011 12:00am
'PICC providing authentic construction cost services'

'PICC providing authentic construction cost services'

Chief Executive Officer, Pakistan Institute of Cost and Contracts (PICC), Engr. M Mazhar-ul Islam has said that PICC provides a single source of authentic construction cost date to prepare realistic project estimates and ensure effective tendering as well
Published 19 Feb, 2011 12:00am
Engro certified as 'Green Office' by WWF

Engro certified as 'Green Office' by WWF

The Corporate Offices of Engro Corporation Limited and Engro Fertilisers Limited, have been certified as Green Office by the World Wide Fund for Nature (WWF). Engro is one of the very few select companies of Pakistan to have secure this certification from
Published 19 Feb, 2011 12:00am
Envoys-designate present credentials to President

Envoys-designate present credentials to President

Ambassadors designate of Kyrgyzstan, Cuba, Austria, European Union, Bhutan and Ireland presented their credentials to President Asif Ali Zardari on Friday. In an impressive ceremony held at the Aiwan-e-Sadr, the ambassadors called on the President separat
Published 19 Feb, 2011 12:00am
Eurozone rates slip

Eurozone rates slip

Eurozone money markets showed no sign of rising strain on Friday after emergency borrowing from the European Central Bank spiked for a second day on Friday, with interbank rates slipping further on a liquidity surplus. ECB figures showed banks borrowed mo
Published 19 Feb, 2011 12:00am
Yuan at record high

Yuan at record high

The yuan recorded its highest ever closing against the dollar on Friday after the central bank fixed the mid-point at a record for a second day, in a clear sign the government is willing to let the Chinese currency appreciate to help fight inflation.
Published 19 Feb, 2011 12:00am
Indian rupee retreats

Indian rupee retreats

The Indian rupee retreated from a one-month high on Friday as domestic shares gave up early gains to close sharply lower, while a reversal in the dollar's losses versus majors in late trade also hurt. The partially convertible rupee closed at 45.1950/2050
Published 19 Feb, 2011 12:00am
Australian and New Zealand dollars up

Australian and New Zealand dollars up

The Australian and New Zealand dollars stood firm on Friday, with the Aussie heading for a weekly rise of 1.5 percent as strong commodity prices augured well for the domestic economy. The Australian dollar edged up to $1.0125, one of the top three perform
Published 19 Feb, 2011 12:00am
Swiss franc rises in New York

Swiss franc rises in New York

The safe-haven Swiss franc rallied on Thursday as unrest in the Middle East and tensions between Israel and Iran escalated. The US dollar declined broadly on Thursday as Middle East tensions boosted the appeal of other safe-haven currencies, with technica
Published 19 Feb, 2011 12:00am
Early trade in New York: Euro gains broadly

Early trade in New York: Euro gains broadly

The euro gained broadly on Friday on heightened expectations the European Central Bank will raise interest rates, but technical factors and renewed sovereign debt concerns were seen limiting the European currency's upside. Traders cited a Bloomberg report
Published 19 Feb, 2011 12:00am
Euro on firm footing in Asia

Euro on firm footing in Asia

The Swiss franc held near two-week highs on Friday, having powered higher on mounting Middle East tensions, while the US dollar lost steam, putting its rebound this month from a three-month low at risk. The Swiss currency, traditionally sought in times of
Published 19 Feb, 2011 12:00am
Euro rebounds in London

Euro rebounds in London

The euro rebounded on Friday on a media report that quoted a senior European Central Bank official as saying that interest rates could be raised, although renewed debt and money market tensions were likely to cap gains. Traders cited a Bloomberg report wh
Published 19 Feb, 2011 12:00am
Sterling gains

Sterling gains

Sterling hit a two-week high versus the dollar on Friday after UK retail sales rebounded far more than expected in January, adding fuel to talk of a Bank of England interest rate hike in the coming months. UK retail sales jumped 1.9 percent in January, mo
Published 19 Feb, 2011 12:00am
FTSE slips from 32-month peak

FTSE slips from 32-month peak

Britain's leading share index slipped on Friday from a 32-month high hit in the previous session, as further monetary tightening in China dampened miners and left defensive stocks in demand. The commodity-heavy FTSE 100 index closed down 0.1 percent at 6,
Published 19 Feb, 2011 12:00am
European shares flat

European shares flat

European shares ended flat near 29-month highs on Friday, with mining stocks among the top fallers after China once again tightened monetary policy in an attempt to rein in inflation. A report citing European Central Bank policymaker Lorenzo Bini Smaghi r
Published 19 Feb, 2011 12:00am
Hong Kong shares post best week in three months

Hong Kong shares post best week in three months

Hong Kong stocks rose on Friday, posting their biggest weekly returns in three months, as another session of healthy turnover suggested investors were growing in confidence. The benchmark Hang Seng Index closed up 1.3 percent on the day. On the week, the
Published 19 Feb, 2011 12:00am
Nikkei gains for fifth day

Nikkei gains for fifth day

Japan's Nikkei stock average ended marginally higher on Friday to extend gains into a fifth day, with investors reluctant to actively buy stocks ahead of a Group of 20 meeting and a long weekend in the United States. Market watchers said worries over unre
Published 19 Feb, 2011 12:00am
Seoul shares rebound

Seoul shares rebound

Seoul shares snapped a three-session losing streak on Friday, lifted by a rally in shipbuilders including Daewoo Shipbuilding on order expectations. The Korea Composite Stock Price Index (KOSPI) finished up 1.82 percent or 35.92 points at 2,013.14 points,
Published 19 Feb, 2011 12:00am
Treasuries debt climbs

Treasuries debt climbs

Treasury debt prices climbed on Thursday as Middle East tensions boosted demand for safe-haven US government debt. In the United States, jobless claims figures pointed to subdued wage gains for the coming year, while a 0.4 percent rise in January consumer
Published 19 Feb, 2011 12:00am
Treasuries debt climbs

Treasuries debt climbs

Treasury debt prices climbed on Thursday as Middle East tensions boosted demand for safe-haven US government debt. In the United States, jobless claims figures pointed to subdued wage gains for the coming year, while a 0.4 percent rise in January consumer
Published 19 Feb, 2011 12:00am
Taiwan stocks climb

Taiwan stocks climb

Taiwan stocks ended the week with the biggest single-day percentage rise in over five months, which fund managers said was a signal that foreign funds were back after seven sessions of selling. The main TAIEX share index closed up 1.84 percent, or 159.96
Published 19 Feb, 2011 12:00am
Recent leaders juice up Wall Street

Recent leaders juice up Wall Street

US investors piled on a dizzying two-year advance in stocks on Thursday, using a brief slip on negative economic news as an opportunity to buy into market leaders. The technology sector showed strength, with Nvidia Corp up 9.8 percent to $25.68 a day afte
Published 19 Feb, 2011 12:00am
Friday's early afternoon trade: indices up for third week of gains

Friday's early afternoon trade: indices up for third week of gains

US stocks rose on Friday, setting major indexes up for a third week of gains, and money managers saw little on the horizon to tame the bullish trend. The Dow and the S&P 500 are at more than 30-month highs, despite sluggish volume and myriad signs that a
Published 19 Feb, 2011 12:00am
Indian stocks tumble

Indian stocks tumble

Indian stocks tumbled on Friday, dragged down by companies involved in a widening telecoms licence corruption probe, with Reliance Communications and other firms controlled by billionaire Anil Ambani hit hard. The investigation into telecoms licence award
Published 19 Feb, 2011 12:00am
Most Southeast Asian stocks up

Most Southeast Asian stocks up

Most Southeast Asian stock markets gained on Friday led by Indonesia with net foreign inflows as investors bought beaten-down shares as they shrugged off worry about inflation. Most of the stock markets in the region gained this week, erasing losses since
Published 19 Feb, 2011 12:00am
Chinese stance throws G20 indicator deal into doubt

Chinese stance throws G20 indicator deal into doubt

China rejected plans to use real exchange rates and currency reserves to measure global economic imbalances, casting doubt on the ability of Group of 20 major economic powers to reach agreement at a meeting on Friday. Speaking shortly before the start of
Published 19 Feb, 2011 12:00am
China raises bank reserves to record in inflation fight

China raises bank reserves to record in inflation fight

China on Friday raised required reserves to a record 19.5 percent, adding to an increasingly aggressive effort by Beijing to stamp out stubbornly high inflation. The fifth increase since October, all in increments of 50 basis points, will force the countr
Published 19 Feb, 2011 12:00am
UK retail sales rebound

UK retail sales rebound

British retail sales rebounded far more than expected in January after December's heavy snow, but failed to ease concerns consumers will be under pressure this year from government cutbacks and possible interest rate rises. Official data showed retail sal
Published 19 Feb, 2011 12:00am
Daewoo wins $2 billion Maersk order

Daewoo wins $2 billion Maersk order

Daewoo Shipbuilding & Marine Engineering has won a $2 billion order from A.P. Moeller-Maersk AS to build 10 of the world's biggest type of container ships, a source said on Friday, prompting a jump in the Korean firm's shares. Daewoo is in talks to build
Published 19 Feb, 2011 12:00am
Malaysia, India sign pact to boost trade

Malaysia, India sign pact to boost trade

Malaysia and India signed a free trade agreement on Friday to help strengthen economic ties and double bilateral trade to $15 billion by 2015. The pact, which follows India's signing of a similar agreement with Japan two days earlier, covers trade in good
Published 19 Feb, 2011 12:00am
Nokia loses German patent case against IPCom

Nokia loses German patent case against IPCom

A German court ruled on Friday Nokia infringed on a patent of German company IPCom, putting pressure on the world's top cellphone maker to settle the long-running legal battle. "We respectfully disagree with the conclusion of the court and are evaluating
Published 19 Feb, 2011 12:00am
Brazil rejects US demands in Doha round

Brazil rejects US demands in Doha round

US demands for major developing countries to make more concessions in global trade talks were not justifiable, Brazil's Foreign Minister Antonio Patriota said on Friday. His remarks could deflate renewed optimism over recent progress in the decade-old Doh
Published 19 Feb, 2011 12:00am
Saudi Arabia seeks share of $100 billion climate aid fund

Saudi Arabia seeks share of $100 billion climate aid fund

Saudi Arabia is a special case in need of climate aid if the world shifts to clean energy, the world's top oil exporter told the United Nations ahead of a Monday deadline for proposals about slowing global warming. Almost 200 nations agreed in Mexico in D
Published 19 Feb, 2011 12:00am
Bernanke urges nations to help ease trade gaps

Bernanke urges nations to help ease trade gaps

Federal Reserve Chairman Ben Bernanke on Friday urged countries with large trade surpluses like China to let their currencies rise in value to help prevent another global financial crisis. He also called on nations with persistent trade deficits like the
Published 19 Feb, 2011 12:00am
ArcelorMittal, Nunavut gain control of Baffinland

ArcelorMittal, Nunavut gain control of Baffinland

Steel producer ArcelorMittal and Ounavut Iron Ore Acquisition say they have increased their stake in Canada's Baffinland Iron Mines Corp to 93 percent and will complete their joint $594 million take-over of the junior mining company. The companies have ac
Published 19 Feb, 2011 12:00am
BoJ confident on recovery

BoJ confident on recovery

Many Bank of Japan policymakers grew more confident on the country's economic recovery last month due to receding pessimism over the US economy and signs of an export rebound, minutes of its January 24-25 rate review showed. With optimism rising over the
Published 19 Feb, 2011 12:00am
Canada defies global trend with tame inflation

Canada defies global trend with tame inflation

Canada's annual inflation rate slipped to a relatively tame 2.3 percent in January as a strong currency helped it buck a global trend that has seen several major nations struggle to control rising prices. January's rate, released by Statistics Canada on F
Published 19 Feb, 2011 12:00am
President, Prime Minister, CoAS discuss Davis issue

President, Prime Minister, CoAS discuss Davis issue

President Asif Ali Zardri, Prime Minister Syed Yousuf Raza Gilani and Chief of Army Staff General Ashfaq Parvez Kayani met on Friday at the Presidency to discuss the highly sensitive issue of Raymond Davis and war against terrorism in the country, it is l
Published 19 Feb, 2011 12:00am
Bank of Ireland keeps lid on state stake with payout

Bank of Ireland keeps lid on state stake with payout

Bank of Ireland will pay nearly 215 million euros in dividends to the Irish government this month, keeping a lid on the state's stake in the lender at 36 percent, at least for now. Bank of Ireland, one of only two domestic lenders not in state control, sa
Published 19 Feb, 2011 12:00am
President, Prime Minister, CoAS discuss Davis issue

President, Prime Minister, CoAS discuss Davis issue

President Asif Ali Zardri, Prime Minister Syed Yousuf Raza Gilani and Chief of Army Staff General Ashfaq Parvez Kayani met on Friday at the Presidency to discuss the highly sensitive issue of Raymond Davis and war against terrorism in the country, it is l
Published 19 Feb, 2011 12:00am
Anglo shifts unloved Tarmac UK into Lafarge venture

Anglo shifts unloved Tarmac UK into Lafarge venture

Mining group Anglo American Plc is to hive off its unwanted Tarmac UK construction materials business into a joint venture with French cement maker Lafarge SA after failing to make an outright sale. Having struggled for more than three years to find a buy
Published 19 Feb, 2011 12:00am
Arrest sought of US consulate driver

Arrest sought of US consulate driver

The Lahore High Court on Friday ordered police to proceed in the case registered against the driver who came to rescue Raymond Davis after Mozang Chungi shooting incident and allegedly crushed Abad-ur-Rehman to death. The court also directed the police to
Published 19 Feb, 2011 12:00am
Sollers drops Fiat joint venture, to team up with Ford

Sollers drops Fiat joint venture, to team up with Ford

Russian car maker Sollers dropped joint venture plans with Fiat and will instead team up with Ford to make and sell cars and vans in the fast-growing Russian market. Western carmakers are increasingly reliant on emerging markets, particularly the BRIC cou
Published 19 Feb, 2011 12:00am
Arrest sought of US consulate driver

Arrest sought of US consulate driver

The Lahore High Court on Friday ordered police to proceed in the case registered against the driver who came to rescue Raymond Davis after Mozang Chungi shooting incident and allegedly crushed Abad-ur-Rehman to death. The court also directed the police to
Published 19 Feb, 2011 12:00am
China's car sales up 16 percent on inventory restocking

China's car sales up 16 percent on inventory restocking

Automakers in China shipped 16.2 percent more cars to dealers in January as they moved aggressively to replenish inventories that were nearly depleted after explosive sales in December. However, the world's largest auto market will lose some of momentum i
Published 19 Feb, 2011 12:00am
10-point agenda: no more time to be given for implementation, says Nawaz

10-point agenda: no more time to be given for implementation, says Nawaz

PML-N Chief Mian Nawaz Sharif said on Friday that 10-point agenda was given keeping in view national interest, however, no more time would be given for its implementation. He was addressing the party meeting of PML-N parliamentarians and party workers fro
Published 19 Feb, 2011 12:00am
No change on grain market

No change on grain market

Not a single change was seen on the wholesale grain and seed market on Friday as most of the market players were busy in preparations for Juma prayers, according to grain and seed merchants group's release.
Published 19 Feb, 2011 12:00am
10-point agenda: no more time to be given for implementation, says Nawaz

10-point agenda: no more time to be given for implementation, says Nawaz

PML-N Chief Mian Nawaz Sharif said on Friday that 10-point agenda was given keeping in view national interest, however, no more time would be given for its implementation. He was addressing the party meeting of PML-N parliamentarians and party workers fro
Published 19 Feb, 2011 12:00am
Prices at high, lifting at low levels stay on cotton market

Prices at high, lifting at low levels stay on cotton market

Restraint was seen on the cotton market on Friday as some mills showed little interest in fresh purchasing to meet their urgent needs, dealers said. Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 11,800, they said. Phutti prices i
Published 19 Feb, 2011 12:00am
60 hurt as Bahrain troops fire on protesters

60 hurt as Bahrain troops fire on protesters

Bahraini security forces fired on protesters on Friday, wounding more than 60, as crackdowns on pro-democracy unrest buffeting the Middle East and North Africa turned increasingly violent. While millions of Egyptians staged a "Victory March" feting their
Published 19 Feb, 2011 12:00am
Indonesia's palm oil output to hit 22 million tonnes in 2011

Indonesia's palm oil output to hit 22 million tonnes in 2011

Indonesia's palm oil production is estimated to rise by 7-9 percent in 2011, while global consumption will rise 5 percent annually over the next five years, the Indonesian Palm Oil Board (IPOB) said on Friday. Maturing plantation areas combined with farme
Published 19 Feb, 2011 12:00am
60 hurt as Bahrain troops fire on protesters

60 hurt as Bahrain troops fire on protesters

Bahraini security forces fired on protesters on Friday, wounding more than 60, as crackdowns on pro-democracy unrest buffeting the Middle East and North Africa turned increasingly violent. While millions of Egyptians staged a "Victory March" feting their
Published 19 Feb, 2011 12:00am
Corn export premiums firmer

Corn export premiums firmer

Corn export premiums at the US Gulf Coast were steady to firm on Thursday while wheat export premiums held steady, with both markets underpinned by strong global demand, traders said. Soyabean export premiums firmed in tandem with rising CIF market values
Published 19 Feb, 2011 12:00am
27 dead in Libya protests

27 dead in Libya protests

Anti-regime protests in eastern Libya cost the lives of at least 20 people in Benghazi and seven in Derna, the website of Oea newspaper, close to leader Moamer Kadhafi's son Seif al-Islam, reported Friday. It said 20 people were buried in Libya's second c
Published 19 Feb, 2011 12:00am
US corn futures surge 3.2 percent

US corn futures surge 3.2 percent

US corn futures surged 3.2 percent to their highest level in more than 2-1/2 years on Thursday as strong export demand raised the prospect of a further erosion of tight US stocks, traders said. A bullish tone over the market helped spark heavy fund buying
Published 19 Feb, 2011 12:00am
27 dead in Libya protests

27 dead in Libya protests

Anti-regime protests in eastern Libya cost the lives of at least 20 people in Benghazi and seven in Derna, the website of Oea newspaper, close to leader Moamer Kadhafi's son Seif al-Islam, reported Friday. It said 20 people were buried in Libya's second c
Published 19 Feb, 2011 12:00am
Argentina's soya and corn crops seen steady

Argentina's soya and corn crops seen steady

Argentina's 2010/11 soya harvest is seen steady at 47.0 million tonnes, while the outlook for corn was held at 19.5 million tonnes, the Buenos Aires Grains Exchange said on Thursday in its weekly report. Argentina is the world's No 3 soyabean exporter, an
Published 19 Feb, 2011 12:00am
Saudi authorities detain founders of new party

Saudi authorities detain founders of new party

Authorities in Saudi Arabia have detained founding members of a new political party and told them they must withdraw demands for political reform as a condition foes their release, the party said Friday. The detainees refused to sign the`pledge, said the
Published 19 Feb, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 140,089 tonnes of cargo including 88,514 tonnes of import cargo, 51,575 tonnes of export cargo, 3,509 loaded and empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 88,514 tonnes comprise
Published 19 Feb, 2011 12:00am
Saudi authorities detain founders of new party

Saudi authorities detain founders of new party

Authorities in Saudi Arabia have detained founding members of a new political party and told them they must withdraw demands for political reform as a condition foes their release, the party said Friday. The detainees refused to sign the`pledge, said the
Published 19 Feb, 2011 12:00am
KARACHI CHRONICLE: Love commercialised

KARACHI CHRONICLE: Love commercialised

Despite frowns on the fanatic's face, 14th February Valentine's Day is now an annual festivity in Pakistan. The Day was introduced almost a decade ago and was a success from the first time it was celebrated.
Published 19 Feb, 2011 12:00am
Phutti arrivals show 9.8 percent decline

Phutti arrivals show 9.8 percent decline

The Chairman of Pakistan Cotton Ginners Association (PCGA), Masood A Majeed, has said that shortfall of cotton arrival is 9.80 percent. He said that total 1,13,81,291 bales of cotton have been received so far during this season. This is 12,36,270 bales le
Published 19 Feb, 2011 12:00am
Gorakh Hill station - a pleasant adventure point

Gorakh Hill station - a pleasant adventure point

Gorakh is an under development hill station of Sindh, Pakistan. It is situated at an elevation of 5,688 ft in the Kirthar mountains range's sindh Segment, 93 km North West of Dadu city. Gorakh is situated on one of the highest plateaus of Sindh, spread ov
Published 19 Feb, 2011 12:00am
Phutti arrivals show 9.8 percent decline

Phutti arrivals show 9.8 percent decline

The Chairman of Pakistan Cotton Ginners Association (PCGA), Masood A Majeed, has said that shortfall of cotton arrival is 9.80 percent. He said that total 1,13,81,291 bales of cotton have been received so far during this season. This is 12,36,270 bales le
Published 19 Feb, 2011 12:00am
ART FACTS: Subtlety of dynamic Compositions

ART FACTS: Subtlety of dynamic Compositions

The basic necessities of life are all related to each other and in turn directly or indirectly affect the daily lives of the people. While going through the exhibition titled "Wave and Particle" at Artchowk Gallery, Karachi, one can understand the concern
Published 19 Feb, 2011 12:00am
Phutti arrivals show 9.8 percent decline

Phutti arrivals show 9.8 percent decline

The Chairman of Pakistan Cotton Ginners Association (PCGA), Masood A Majeed, has said that shortfall of cotton arrival is 9.80 percent. He said that total 1,13,81,291 bales of cotton have been received so far during this season. This is 12,36,270 bales le
Published 19 Feb, 2011 12:00am
An e-mail address for every occasion

An e-mail address for every occasion

Texting may have put a dent in e-mail's dominance as the primary form of electronic communication. But e-mail is far from dead. And the same can be said, unfortunately, for spam and inbox overload. One of the best ways to keep ahead of both is to set up d
Published 19 Feb, 2011 12:00am
Leveraged markets rules approved

Leveraged markets rules approved

The federal government has accorded approval for promulgation of the Securities (Leveraged Markets and Pledging) Rules, 2011, which have been notified by the Securities and Exchange Commission of Pakistan (SECP) in the official gazette.
Published 19 Feb, 2011 12:00am
BRIDGE NOTES: How varied can bridge be?

BRIDGE NOTES: How varied can bridge be?

Competitive bridge has a fascination that is unsurpassable in any other sports, for here, the competition is not merely restricted to one or two opponents but can stretch to thousands across the world where duplicate boards are played giving you the true
Published 19 Feb, 2011 12:00am
Leveraged markets rules approved

Leveraged markets rules approved

The federal government has accorded approval for promulgation of the Securities (Leveraged Markets and Pledging) Rules, 2011, which have been notified by the Securities and Exchange Commission of Pakistan (SECP) in the official gazette.
Published 19 Feb, 2011 12:00am
Leveraged markets rules approved

Leveraged markets rules approved

The federal government has accorded approval for promulgation of the Securities (Leveraged Markets and Pledging) Rules, 2011, which have been notified by the Securities and Exchange Commission of Pakistan (SECP) in the official gazette.
Published 19 Feb, 2011 12:00am
New York cotton

New York cotton

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

Published 19 Feb, 2011 12:00am
NCCP presentation highlights MTS salient points

NCCP presentation highlights MTS salient points

The National Clearing Company of Pakistan Limited (NCCPL) on Friday conducted a presentation on Margin Trading System (MTS) at Karachi Stock Exchange auditorium. Badiuddin Akbar, Head of Operations, NCCPL, in a detailed presentation highlighted the salien
Published 19 Feb, 2011 12:00am
New York cotton

New York cotton

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

Published 19 Feb, 2011 12:00am
NCCP presentation highlights MTS salient points

NCCP presentation highlights MTS salient points

The National Clearing Company of Pakistan Limited (NCCPL) on Friday conducted a presentation on Margin Trading System (MTS) at Karachi Stock Exchange auditorium. Badiuddin Akbar, Head of Operations, NCCPL, in a detailed presentation highlighted the salien
Published 19 Feb, 2011 12:00am
NCCP presentation highlights MTS salient points

NCCP presentation highlights MTS salient points

The National Clearing Company of Pakistan Limited (NCCPL) on Friday conducted a presentation on Margin Trading System (MTS) at Karachi Stock Exchange auditorium. Badiuddin Akbar, Head of Operations, NCCPL, in a detailed presentation highlighted the salien
Published 19 Feb, 2011 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 19 Feb, 2011 12:00am
Index sheds 20.62 points

Index sheds 20.62 points

The KSE-100 index on Friday lost 20.62 points to close at 12,041.15 points due to investors' concerns over Pak-US relations. The market witnessed mixed trend with the index oscillating between 12,142.15 points intra-day high and 11,963.16 points intra-day
Published 19 Feb, 2011 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 19 Feb, 2011 12:00am
Index sheds 20.62 points

Index sheds 20.62 points

The KSE-100 index on Friday lost 20.62 points to close at 12,041.15 points due to investors' concerns over Pak-US relations. The market witnessed mixed trend with the index oscillating between 12,142.15 points intra-day high and 11,963.16 points intra-day
Published 19 Feb, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Friday (February 18, 2011).

Published 19 Feb, 2011 12:00am
Index sheds 20.62 points

Index sheds 20.62 points

The KSE-100 index on Friday lost 20.62 points to close at 12,041.15 points due to investors'' concerns over Pak-US relations. The market witnessed mixed trend with the index oscillating between 12,142.15 points intra-day high and 11,963.16 points intra-da
Published 19 Feb, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Friday (February 18, 2011).

Published 19 Feb, 2011 12:00am
BRIndex30 loses 19.16 points

BRIndex30 loses 19.16 points

On Friday, the BRIndex30 opened at 8,753.00 points and remained in red for most of the trading session. It touched the intra-day high of 8,792.24 points and low of 8,657.37 points, and closed at 8,733.84 points with a net negative change of -19.16 points,
Published 19 Feb, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Friday (February 18, 2011).

Published 19 Feb, 2011 12:00am
BRIndex30 loses 19.16 points

BRIndex30 loses 19.16 points

On Friday, the BRIndex30 opened at 8,753.00 points and remained in red for most of the trading session. It touched the intra-day high of 8,792.24 points and low of 8,657.37 points, and closed at 8,733.84 points with a net negative change of -19.16 points,
Published 19 Feb, 2011 12:00am
Supreme Court restrains PCO judges from issuing orders

Supreme Court restrains PCO judges from issuing orders

The Supreme Court on Friday restrained dysfunctional judges of higher judiciary to pass any order against members of the bench hearing contempt cases against them or any other judges of the Supreme Court.
Published 19 Feb, 2011 12:00am
Supreme Court restrains PCO judges from issuing orders

Supreme Court restrains PCO judges from issuing orders

The Supreme Court on Friday restrained dysfunctional judges of higher judiciary to pass any order against members of the bench hearing contempt cases against them or any other judges of the Supreme Court.
Published 19 Feb, 2011 12:00am
Supreme Court restrains PCO judges from issuing orders

Supreme Court restrains PCO judges from issuing orders

The Supreme Court on Friday restrained dysfunctional judges of higher judiciary to pass any order against members of the bench hearing contempt cases against them or any other judges of the Supreme Court.
Published 19 Feb, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Friday (February 18, 2011).

Published 19 Feb, 2011 12:00am
Mismatch of fuel price mechanism: PPIB locked horns with Pepco

Mismatch of fuel price mechanism: PPIB locked horns with Pepco

The Private Power Infrastructure Board (PPIB) has locked horns with Pakistan Electric Power Company (Pepco) over 'mismatch of fuel price mechanism in agreements with 235 mw Tenaga Nasional Berhand (TNB) Liberty Power Limited, sources told Business Reco
Published 19 Feb, 2011 12:00am
Mismatch of fuel price mechanism: PPIB locked horns with Pepco

Mismatch of fuel price mechanism: PPIB locked horns with Pepco

The Private Power Infrastructure Board (PPIB) has locked horns with Pakistan Electric Power Company (Pepco) over 'mismatch of fuel price mechanism in agreements with 235 mw Tenaga Nasional Berhand (TNB) Liberty Power Limited, sources told Business Reco
Published 19 Feb, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (February 18, 2011).
Published 19 Feb, 2011 12:00am
Mismatch of fuel price mechanism: PPIB locked horns with Pepco

Mismatch of fuel price mechanism: PPIB locked horns with Pepco

The Private Power Infrastructure Board (PPIB) has locked horns with Pakistan Electric Power Company (Pepco) over ''mismatch of fuel price mechanism in agreements with 235 mw Tenaga Nasional Berhand (TNB) Liberty Power Limited, sources told Business Rec
Published 19 Feb, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (February 18, 2011).

Published 19 Feb, 2011 12:00am
CCP raids offices of PVMA, PEORA

CCP raids offices of PVMA, PEORA

The Com-petition Commission of Pakistan has conducted search and inspection of the offices of the Pakistan Vanaspati Manufacturers Association (PVMA) and Pakistan Edible Oil Refiners Association (PEORA) in Islamabad and Karachi and impounded documentary p
Published 19 Feb, 2011 12:00am
CCP raids offices of PVMA, PEORA

CCP raids offices of PVMA, PEORA

The Com-petition Commission of Pakistan has conducted search and inspection of the offices of the Pakistan Vanaspati Manufacturers Association (PVMA) and Pakistan Edible Oil Refiners Association (PEORA) in Islamabad and Karachi and impounded documentary p
Published 19 Feb, 2011 12:00am
CCP raids offices of PVMA, PEORA

CCP raids offices of PVMA, PEORA

The Com-petition Commission of Pakistan has conducted search and inspection of the offices of the Pakistan Vanaspati Manufacturers Association (PVMA) and Pakistan Edible Oil Refiners Association (PEORA) in Islamabad and Karachi and impounded documentary p
Published 19 Feb, 2011 12:00am
July-January current account deficit at $81 million

July-January current account deficit at $81 million

Country's current account deficit for July-January was a provisional $81 million, compared with a deficit of $3.052 billion in the same period last year, the central bank said on Friday. In January, the current account deficit was a provisional $62 millio
Published 19 Feb, 2011 12:00am
July-January current account deficit at $81 million

July-January current account deficit at $81 million

Country's current account deficit for July-January was a provisional $81 million, compared with a deficit of $3.052 billion in the same period last year, the central bank said on Friday. In January, the current account deficit was a provisional $62 millio
Published 19 Feb, 2011 12:00am
July-January current account deficit at $81 million

July-January current account deficit at $81 million

Country''s current account deficit for July-January was a provisional $81 million, compared with a deficit of $3.052 billion in the same period last year, the central bank said on Friday. In January, the current account deficit was a provisional $62 milli
Published 19 Feb, 2011 12:00am
Circular debt: Gilani directs Hafeez to resolve issue

Circular debt: Gilani directs Hafeez to resolve issue

Prime Minister Syed Yousuf Raza Gilani on Friday asked the Finance Minister Dr Abdul Hafeez Sheikh to hold meetings with all the stakeholders and resolve the circular debt issue. The Prime Minister gave this direction in a meeting with the Secretary Petro
Published 19 Feb, 2011 12:00am
Circular debt: Gilani directs Hafeez to resolve issue

Circular debt: Gilani directs Hafeez to resolve issue

Prime Minister Syed Yousuf Raza Gilani on Friday asked the Finance Minister Dr Abdul Hafeez Sheikh to hold meetings with all the stakeholders and resolve the circular debt issue. The Prime Minister gave this direction in a meeting with the Secretary Petro
Published 19 Feb, 2011 12:00am
Circular debt: Gilani directs Hafeez to resolve issue

Circular debt: Gilani directs Hafeez to resolve issue

Prime Minister Syed Yousuf Raza Gilani on Friday asked the Finance Minister Dr Abdul Hafeez Sheikh to hold meetings with all the stakeholders and resolve the circular debt issue. The Prime Minister gave this direction in a meeting with the Secretary Petro
Published 19 Feb, 2011 12:00am
Nine top bureaucrats issued letters of termination

Nine top bureaucrats issued letters of termination

Prime Minister Yousuf Raza Gilani has directed the Establishment Division to serve termination letter to nine top bureaucrats, who were reemployed on contract basis. According to sources in Establishment Division, termination letters have been issued to n
Published 19 Feb, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (February 18, 2011).

Published 19 Feb, 2011 12:00am
Nine top bureaucrats issued letters of termination

Nine top bureaucrats issued letters of termination

Prime Minister Yousuf Raza Gilani has directed the Establishment Division to serve termination letter to nine top bureaucrats, who were reemployed on contract basis. According to sources in Establishment Division, termination letters have been issued to n
Published 19 Feb, 2011 12:00am
Provisional assessment: enforcement action not a revenue generation step

Provisional assessment: enforcement action not a revenue generation step

FBR Member Enforcement and Accounting Muhammad Fayyaz Khan said on Friday that the enforcement action of provisional assessment under section 122-C of the Income Tax Ordinance (ITO) 2001 is not a revenue generation measure, but to enforce filing of income
Published 19 Feb, 2011 12:00am
Provisional assessment: enforcement action not a revenue generation step

Provisional assessment: enforcement action not a revenue generation step

FBR Member Enforcement and Accounting Muhammad Fayyaz Khan said on Friday that the enforcement action of provisional assessment under section 122-C of the Income Tax Ordinance (ITO) 2001 is not a revenue generation measure, but to enforce filing of income
Published 19 Feb, 2011 12:00am
Provisional assessment: enforcement action not a revenue generation step

Provisional assessment: enforcement action not a revenue generation step

FBR Member Enforcement and Accounting Muhammad Fayyaz Khan said on Friday that the enforcement action of provisional assessment under section 122-C of the Income Tax Ordinance (ITO) 2001 is not a revenue generation measure, but to enforce filing of income
Published 19 Feb, 2011 12:00am
FBR proposes new taxation measures

FBR proposes new taxation measures

The Federal Board of Revenue (FBR) has proposed new taxation measures to meet the revised revenue collection target of Rs 1630 billion for 2010-11 to deal with the unusual economic situation in the country for generating additional revenue.
Published 19 Feb, 2011 12:00am
FBR proposes new taxation measures

FBR proposes new taxation measures

The Federal Board of Revenue (FBR) has proposed new taxation measures to meet the revised revenue collection target of Rs 1630 billion for 2010-11 to deal with the unusual economic situation in the country for generating additional revenue.
Published 19 Feb, 2011 12:00am
FBR proposes new taxation measures

FBR proposes new taxation measures

The Federal Board of Revenue (FBR) has proposed new taxation measures to meet the revised revenue collection target of Rs 1630 billion for 2010-11 to deal with the unusual economic situation in the country for generating additional revenue.
Published 19 Feb, 2011 12:00am
National economic agenda: FPCCI nominates six-member team

National economic agenda: FPCCI nominates six-member team

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has a nominated a 6- member committee to assist the government in preparing a national economic agenda to steer Pakistan out of current financial crisis. The committee comprises FPCCI ch
Published 19 Feb, 2011 12:00am
National economic agenda: FPCCI nominates six-member team

National economic agenda: FPCCI nominates six-member team

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has a nominated a 6- member committee to assist the government in preparing a national economic agenda to steer Pakistan out of current financial crisis. The committee comprises FPCCI ch
Published 19 Feb, 2011 12:00am
National economic agenda: FPCCI nominates six-member team

National economic agenda: FPCCI nominates six-member team

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has a nominated a 6- member committee to assist the government in preparing a national economic agenda to steer Pakistan out of current financial crisis. The committee comprises FPCCI ch
Published 19 Feb, 2011 12:00am
Team leaves for Japan ahead of Zardari's visit from February 21

Team leaves for Japan ahead of Zardari's visit from February 21

With squeezing financial space at home, Pakistan's high level delegation comprising senior officials of different ministries on Thursday left for Tokyo for preparatory work for more than one dozen agreements to be signed between Pakistan and Japan during
Published 19 Feb, 2011 12:00am
Team leaves for Japan ahead of Zardari's visit from February 21

Team leaves for Japan ahead of Zardari's visit from February 21

With squeezing financial space at home, Pakistan's high level delegation comprising senior officials of different ministries on Thursday left for Tokyo for preparatory work for more than one dozen agreements to be signed between Pakistan and Japan during
Published 19 Feb, 2011 12:00am
Team leaves for Japan ahead of Zardari''s visit from February 21

Team leaves for Japan ahead of Zardari''s visit from February 21

With squeezing financial space at home, Pakistan''s high level delegation comprising senior officials of different ministries on Thursday left for Tokyo for preparatory work for more than one dozen agreements to be signed between Pakistan and Japan during
Published 19 Feb, 2011 12:00am
World Bank chief calls for modernised monetary system

World Bank chief calls for modernised monetary system

World Bank chief Robert Zoellick urged big economies on Friday to modernise the global monetary system to be able to handle multiple major currencies. In a guest column for the Financial Times, Zoellick said China's yuan should be given a bigger role with
Published 19 Feb, 2011 12:00am
World Bank chief calls for modernised monetary system

World Bank chief calls for modernised monetary system

World Bank chief Robert Zoellick urged big economies on Friday to modernise the global monetary system to be able to handle multiple major currencies. In a guest column for the Financial Times, Zoellick said China's yuan should be given a bigger role with
Published 19 Feb, 2011 12:00am
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