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Archive - 2011-03-02
Arab League summit delayed by unrest
Top News

Arab League summit delayed by unrest

CAIRO: The Arab League's annual summit, which was to be held this month in Baghdad, has been delayed until the end of Ma
Published 02 Mar, 2011 04:09pm
Tesco's buy of two Czech chains cleared
Top News

Tesco's buy of two Czech chains cleared

PRAGUE: Britain's biggest retailer Tesco can acquire Czech convenience stores Zabka and Koruna from Czech-Slovak investm
Published 02 Mar, 2011 03:01pm
KSE up by 90.73 points
Markets

KSE up by 90.73 points

KARACHI: Karachi stocks ended higher on Wednesday as investors accumulated shares in anticipation of the launch of a mar
Published 02 Mar, 2011 02:45pm
Pakistan, China to build missile boats
Top News

Pakistan, China to build missile boats

BEIJING: Pakistan and China have embarked on a joint venture for the construction of two missile carrier boats in the Ch
Published 02 Mar, 2011 12:06pm
BoI reviews Pak-China MoUs' progress
Top News

BoI reviews Pak-China MoUs' progress

ISLAMABAD: The Board of Investment (BoI) has organized a meeting of stakeholders on Thursday to discuss the progress on
Published 02 Mar, 2011 11:54am
Raza Rabbani meets Governor KPK
Top News

Raza Rabbani meets Governor KPK

ISLAMABAD: Federal Minister for Inter-Provincial Coordination Mian Raza Rabbani met Governor Khyber Pakhtoonkhawa (KPK),
Published 02 Mar, 2011 10:48am
UN throws Libya off human rights council
Top News

UN throws Libya off human rights council

UNITED NATIONS: The United Nations on Tuesday suspended Libya from its main human rights body over Moamer Qadhafi's crac
Published 02 Mar, 2011 06:59am
IMFs comfort for fiscal cushion
BR Research

IMFs comfort for fiscal cushion

A one-off high receipt from the Coalition Support Fund ($760 mn), earlier transfers of SBP profits, and possibly some accounting gimmicks to
Published 02 Mar, 2011 12:00am
Frozen brains - Freezing tariffs
BR Research

Frozen brains - Freezing tariffs

"We have also made progress in devising a plan to ensure financial viability of the electricity sector, which will enable us to achieve the
Published 02 Mar, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 02 Mar, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 02 Mar, 2011 12:00am
US looks to Mexico to tighten Afghan border

US looks to Mexico to tighten Afghan border

US commanders in Afghanistan are looking to their own country's heavily monitored border with Mexico as part of efforts to stem the flow of Taliban fighters crossing from Pakistan to wage a growing insurgency. US forces say they are considering employing
Published 02 Mar, 2011 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 02 Mar, 2011 12:00am
US looks to Mexico to tighten Afghan border

US looks to Mexico to tighten Afghan border

US commanders in Afghanistan are looking to their own country's heavily monitored border with Mexico as part of efforts to stem the flow of Taliban fighters crossing from Pakistan to wage a growing insurgency. US forces say they are considering employing
Published 02 Mar, 2011 12:00am
Board meetings in progress

Board meetings in progress

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

Published 02 Mar, 2011 12:00am
Sale of assets in Pakistan: BP forwards UEG's $775 million offer

Sale of assets in Pakistan: BP forwards UEG's $775 million offer

British Petroleum (BP) has forwarded to its partners, including OGDC, United Energy Group Limited's offer of $775 million for its stakes in Pakistan's oil and gas sector. In December 2010, BP announced the sale of almost all its exploration and production
Published 02 Mar, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 02 Mar, 2011 12:00am
Sale of assets in Pakistan: BP forwards UEG's $775 million offer

Sale of assets in Pakistan: BP forwards UEG's $775 million offer

British Petroleum (BP) has forwarded to its partners, including OGDC, United Energy Group Limited's offer of $775 million for its stakes in Pakistan's oil and gas sector. In December 2010, BP announced the sale of almost all its exploration and production
Published 02 Mar, 2011 12:00am
Sale of assets in Pakistan: BP forwards UEG''s $775 million offer

Sale of assets in Pakistan: BP forwards UEG''s $775 million offer

British Petroleum (BP) has forwarded to its partners, including OGDC, United Energy Group Limited''s offer of $775 million for its stakes in Pakistan''s oil and gas sector. In December 2010, BP announced the sale of almost all its exploration and producti
Published 02 Mar, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (March 01, 2011).

Published 02 Mar, 2011 12:00am
Call for ensuring women representation in policymaking

Call for ensuring women representation in policymaking

Speakers at a seminar held in connection with the international women's day have called for ensuring women representation in the policymaking process so that their rights could be safeguarded. The seminar was organised by All Pakistan Women Association (A
Published 02 Mar, 2011 12:00am
Coal mining, power generation: President for using sub-soil water

Coal mining, power generation: President for using sub-soil water

President Asif Ali Zardari has advised to use sub-soil water for coal mining, power generation and other purposes in the Thar coalfield instead of using sweet water which should be utilised for irrigation. He was presiding over a meeting at Bilawal House
Published 02 Mar, 2011 12:00am
Shahbaz orders strict action against adulterators, hoarders

Shahbaz orders strict action against adulterators, hoarders

Punjab Chief Minister Shahbaz Sharif has said that those involved in adulteration of daily use items, overcharging, hoarding and less weighing and deserve no leniency and strict action should be taken against such elements without any discrimination.
Published 02 Mar, 2011 12:00am
THE RUPEE: minor changes

THE RUPEE: minor changes

Some little changes were seen on the money market on Tuesday as the dollar's supply matched with the rising demand by the importers, dealers said. The rupee moved slightly after picking one paisa against dollar for buying and selling at 85.63 and 85.68, t
Published 02 Mar, 2011 12:00am
Energy crisis: textile exports decline by 9.3 percent

Energy crisis: textile exports decline by 9.3 percent

Syed Muhammad Aasim Shah, a leader of Value-added Textile Form (VTF) said here on Tuesday that since the 2011 has been declared as the year of textile government should ensure proper supply of gas and electricity to value added sector as well as spinning
Published 02 Mar, 2011 12:00am
THE RUPEE: minor changes

THE RUPEE: minor changes

Some little changes were seen on the money market on Tuesday as the dollar's supply matched with the rising demand by the importers, dealers said. The rupee moved slightly after picking one paisa against dollar for buying and selling at 85.63 and 85.68, t
Published 02 Mar, 2011 12:00am
Chief minister Punjab for developing indigenous resources

Chief minister Punjab for developing indigenous resources

Punjab Chief Minister Muhammad Shahbaz Sharif has said that there is a need to give up reliance on the charity of others and develop indigenous resources for achieving self sufficiency. He said if the whole nation makes a firm resolve in this regard, Paki
Published 02 Mar, 2011 12:00am
Directives to protect wheat stocks from rain

Directives to protect wheat stocks from rain

Secretary Food Punjab has directed all the deputy directors and district food controllers across the province to protect existing stocks of wheat from rain induced damages. Talking to newsmen on Tuesday, Sqn Ldr (Retd) Muhammad Irfan Elahi, Food Secretary
Published 02 Mar, 2011 12:00am
Over 350 stranded Pakistanis arrive from Libya

Over 350 stranded Pakistanis arrive from Libya

Over 350 stranded Pakistanis in Libya have arrived here on Tuesday in two different special flights, charted by a private Turkish company. First chartered flight carrying 174 stranded Pakistanis landed at the Allama Iqbal International Airport in the earl
Published 02 Mar, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (March 01, 2011).

Published 02 Mar, 2011 12:00am
Complaint filed against Geo's MIR

Complaint filed against Geo's MIR

A complaint has been moved before the Chief Justice of Pakistan against the alleged misconduct of Mir Ibrahim Rahman, the CEO of Geo, with the counsel for Pakistan Electronic Media Regularity Authority (Pemra). The Pemra's counsel, Ali Raza, filed an appl
Published 02 Mar, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (March 01, 2011).

Published 02 Mar, 2011 12:00am
CPSP holds conference on medical education

CPSP holds conference on medical education

The College of Physicians & Surgeons Pakistan (CPSP) is determined to produce medical educationists of international standard in the country, said President CPSP, Professor Zafarullah Chaudhry. He was speaking at a two-day conference on medical education.
Published 02 Mar, 2011 12:00am
KSE posts 8.7 percent loss in February 2011

KSE posts 8.7 percent loss in February 2011

The KSE-100 index registered heavy loss of 8.7 percent on month-on-month basis in February 2011, analysts said. The benchmark KSE-100 declined by 1070.13 points during February 2011 and closed at 11,289.23 points from previous months closing of 12,359.36
Published 02 Mar, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (March 01, 2011).

Published 02 Mar, 2011 12:00am
35 girls injured in grenade attack on college

35 girls injured in grenade attack on college

Unidentified terrorists attacked Girls College Lund Khawar, district Mardan with hand grenade injuring 35 students, including a teacher and a passer-by identified as Faras Khan. The wounded girls have been rushed to District Headquarters Hospital, Mardan
Published 02 Mar, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Tuesday (March 01, 2011) and for Wednesday (March 02, 2011).
Published 02 Mar, 2011 12:00am
Taliban kill four alleged spies

Taliban kill four alleged spies

The bodies of four men apparently killed by the Taliban for working as informers for the United States, were found Tuesday in tribal zone, officials said. The bodies of the local men, who had been shot several times, were discovered in the Hamzoni area in
Published 02 Mar, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (March 01, 2011).

Published 02 Mar, 2011 12:00am
Hike in oil prices to raise GST on petroleum products to 9.9 percent

Hike in oil prices to raise GST on petroleum products to 9.9 percent

The recent hike in oil prices will help government to enhance revenue collection by 9.9 percent on account of General Sales Tax (GST) on petroleum products during on-going month (March). In addition to GST rate enhancement due to rise in oil prices, gover
Published 02 Mar, 2011 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 02 Mar, 2011 12:00am
Civil society, exporters reject POL prices hike

Civil society, exporters reject POL prices hike

People belonging to different walks of life have expressed deep concern over the increase in petroleum prices and said it will bring a cyclone of price hike in the country as a result of which common man's life would be affected. They said that people are
Published 02 Mar, 2011 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 02 Mar, 2011 12:00am
Imran flays increase in POL price

Imran flays increase in POL price

Chairman Pakistan Tehrik-e-Insaf (PTI) Imran Khan, while flaying the increase in petroleum products prices, called upon the government to recover billions of rupees, which was written off instead of taxing the poor further.
Published 02 Mar, 2011 12:00am
Bringing 'green revolution': interest-free loans for farmers demanded

Bringing 'green revolution': interest-free loans for farmers demanded

President of Anjuman Kashtkaran Punjab, Peerzada Abdul Ali Zakir Usmani has said that interest free loans be advanced to farmers to bring a green revolution in the country. Modern machinery, hi-bred seed, unadulterated fertilisers and pesticides be suppli
Published 02 Mar, 2011 12:00am
Civil Services Academy Alumni to hold dinner on March 9

Civil Services Academy Alumni to hold dinner on March 9

Civil Services Academy Alumni, Islamabad Chapter is organising annual dinner cum cultural programme here on March 9. All Islamabad based Commoners belonging to various occupational groups namely Accounts, Customs, District Management, Income Tax, Informat
Published 02 Mar, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (March 01, 2011).

Published 02 Mar, 2011 12:00am
Political parties reject increase in POL prices

Political parties reject increase in POL prices

All Political Parties except PPP have rejected the Oil and Gas Regulatory Authority's (Ogra) decision to raise the prices of petroleum products by 9.9 percent describing them unjust and unfair. Pakistan Muslim League-N's MNA Rana Mehmood-ul-Hassan, Begum
Published 02 Mar, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (March 01, 2011).

Published 02 Mar, 2011 12:00am
Fauzia reiterates her stance on Raymond Davis

Fauzia reiterates her stance on Raymond Davis

Chairperson National Assembly's Standing Committee on Finance Fauzia Wahab reiterated her stance regarding Raymond Davis, saying that Raymond Davis was a diplomat and he would be treated in accordance with Vienna Convention and should be handed over to th
Published 02 Mar, 2011 12:00am
The Weather

The Weather

The weather report on Tuesday (March 01, 2011) and the forecast for Wednesday (March 02, 2011).

Published 02 Mar, 2011 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

What has been extremely surprising that both the major political parties, Pakistan Muslim League-N and Pakistan People's Party (PPP) are no longer seemingly interested in the proceedings of the National Assembly after the former ousted the later from Punj
Published 02 Mar, 2011 12:00am
Brazil offers technical support in social sector uplift

Brazil offers technical support in social sector uplift

In an effort to bring a positive change in the living of poor Pakistanis, Brazil has offered technical support in the social sector development. Ambassador of Brazil to Pakistan informed this in a meeting with local businessmen at Islamabad Chamber of Com
Published 02 Mar, 2011 12:00am
PAL compiles book on Faiz

PAL compiles book on Faiz

Pakistan Academy of Letters (PAL), Punjab chapter has compiled a book titled "Present Global Colonial Situation and Poetry of Faiz", which will be soon published by the University of Gujrat. Deputy Registrar of the varsity Sheikh Abdul Rashid is supervisi
Published 02 Mar, 2011 12:00am
Hike in POL prices: commodities' prices to go up by 10-15 percent

Hike in POL prices: commodities' prices to go up by 10-15 percent

The prices of all commodities would increase by 10 to 15 percent after the recent increase of about 10 percent in petroleum products prices, a survey carried out by Business Recorder showed. Most affected would be the prices of daily use items like
Published 02 Mar, 2011 12:00am
Government unlikely to raise railway fares

Government unlikely to raise railway fares

Government is unlikely to raise rail fares after new increase in prices of petroleum products due to immense pressure from the public as well as from the political parties, it is learnt. Sources in the Railway Ministry said that Pakistan Railways (PR) pay
Published 02 Mar, 2011 12:00am
Programmes for youths' uplift planned: Prime Minister

Programmes for youths' uplift planned: Prime Minister

Prime Minister, Syed Yousuf Raza Gilani on Tuesday terming the youth as the country's future and said government has prepared a number of programmes for developing their skills and abilities. He was talking to a group of young students, belonging to a pri
Published 02 Mar, 2011 12:00am
POL prices' hike challenged

POL prices' hike challenged

The recent increase in petroleum prices has been challenged before Lahore High Court (LHC). A bar member Mateenul Haq Chaudhry filed this civil miscellaneous application filed into an already main petition on the matter submitted that the impugned notific
Published 02 Mar, 2011 12:00am
Overcoming financial losses: Railways asked to improve its management

Overcoming financial losses: Railways asked to improve its management

Special Committee of National Assembly's Public Accounts Committee (PAC) on Tuesday directed the Pakistan Railways to improve its management and take drastic steps to tap resources for overcoming huge financial losses the department is facing at present.
Published 02 Mar, 2011 12:00am
New cabinet selected carefully: Prime Minister

New cabinet selected carefully: Prime Minister

Prime Minister, Syed Yousuf Raza Gilani on Tuesday said it is preferable to sit in opposition rather than indulge in 'a game of interests and politics', contrary to the trust reposed by the people.
Published 02 Mar, 2011 12:00am
Nawaz rejects increase in oil prices

Nawaz rejects increase in oil prices

Pakistan Muslim League-Nawaz Chief, Muhammad Nawaz Sharif on Tuesday rejected the increase in oil prices and asked the government to facilitate public by eradicating corruption and tax evasion. Addressing the workers of PML-N Sindh at a consultative meeti
Published 02 Mar, 2011 12:00am
PIAF rejects recent hike

PIAF rejects recent hike

The representatives of the businessmen and industrialists association have out rightly rejected the huge increase in petroleum prices and demanded of the government to withdraw the hike immediately. The Pakistan Industrial and Traders Associations Front (
Published 02 Mar, 2011 12:00am
Call to end violence against women

Call to end violence against women

Ending violence against women is not a matter of a one-off celebration; rather it is an attitude that has to be taken back to homes, communities, workplaces and society at large, said Bushra Zulfiqar, Writer and Gender Activist during the launch of 'We Ca
Published 02 Mar, 2011 12:00am
JI moves Senate against hike in oil prices

JI moves Senate against hike in oil prices

Jamaat-e-Islamai (JI) on Tuesday submitted adjournment motion to the Senate Secretariat against the rise in prices of petroleum products, terming the increase like dropping 'petrol bomb' on the poor of the country. The motion has been submitted by three s
Published 02 Mar, 2011 12:00am
Raymond Davis case: LHC moved to implead US ambassador

Raymond Davis case: LHC moved to implead US ambassador

The Lahore High Court, through an application, has been moved to implead the US ambassador in Pakistan, Cameron P. Munter as necessary party into a pending petition on the question of immunity to an American national Raymond Davis involved in the double m
Published 02 Mar, 2011 12:00am
Petition against condition of NOC returned

Petition against condition of NOC returned

The Lahore High Court registrar office has returned a petition challenging requirement of no objection certificates (NOC) before travelling abroad, asking the petitioner to affix the impugned notification with his petition. A bar member, Noshab A. Khan ha
Published 02 Mar, 2011 12:00am
Services of seven ministers terminated

Services of seven ministers terminated

According to a news of DPPR received, here on Tuesday, Punjab government has removed provincial ministers Raja Riaz Ahmad, Haji Muhammad Ishaq, Mrs Neelam Jabbar Chaudhry, Tanvir Ashraf Kaira, Muhammad Ashraf Khan Sohna, Tanveer-ul-Islam and Farooq Yousaf
Published 02 Mar, 2011 12:00am
CJ LHC places services of Ijaz Ali at the disposal of federal government

CJ LHC places services of Ijaz Ali at the disposal of federal government

Chief Justice Lahore High Court, Ijaz Ahmad Chaudhry on Tuesday placed services of district and sessions judge/presiding officer at district consumer court Lahore, Ijaz Ali at the disposal of the federal government for his posting as judge banking court,
Published 02 Mar, 2011 12:00am
'Journalist colony' project in the doldrums

'Journalist colony' project in the doldrums

Journalist community has expressed deep concern over the delay of establishment of journalist colony in Sialkot. They said that the project of setting up of proposed colony is in doldrums since long due to unknown reason.
Published 02 Mar, 2011 12:00am
Visits to South Africa, UAE: LCCI gets significant number of orders

Visits to South Africa, UAE: LCCI gets significant number of orders

The Lahore Chamber of Commerce and Industry (LCCI) has opened a new chapter of Pakistan's trade and economic relations with South Africa and UAE, as an eight member LCCI delegation returned after 14-day visit to the countries with significant number of bu
Published 02 Mar, 2011 12:00am
'Pakistan facing high post-harvest losses by 40 percent'

'Pakistan facing high post-harvest losses by 40 percent'

Pakistan is facing high post-harvest losses ranging from 20 to 40 percent. On the other hand, low value addition from 3 to 5 percent of total food production has also become a matter of concern, said speakers at the Food Development Competition 2011, Univ
Published 02 Mar, 2011 12:00am
Fourth symposium on 'Engineering Sciences' held at PU ICET

Fourth symposium on 'Engineering Sciences' held at PU ICET

Punjab University Vice-Chancellor Professor Dr Mujahid Kamran has stated that Pakistan will have to become super power of knowledge for its survival. He was addressing the participants of 4th symposium on "Engineering Sciences" at PU Institute of Chemical
Published 02 Mar, 2011 12:00am
600 industrial units remain closed for third consecutive day

600 industrial units remain closed for third consecutive day

More than 600 industrial units including textile processing, printing, dyeing, sizing, weaving and knitting remained closed on the third consecutive day, here on Tuesday. Industrialists and workers observed 'Black Day' against the five-day gas loadsheddin
Published 02 Mar, 2011 12:00am
Moonis Elahi fails to meet FIA officials

Moonis Elahi fails to meet FIA officials

Pakistan Muslim League-Q leader Chaudhry Moonis Elahi, who is facing a reference regarding NICL scam, on Tuesday again turned up in the local office of FIA to record his statement but he returned home with empty hands. The PML-Q leader remained there for
Published 02 Mar, 2011 12:00am
'PPP to play active opposition's role in Punjab Assembly'

'PPP to play active opposition's role in Punjab Assembly'

Pakistan Peoples Party (PPP) Punjab President, Imtiaz Safdar Warraich and former senior minister and PPP leader Raja Riaz Tuesday said the PPP would play an active role of opposition in the Punjab Assembly. Speaking to media outside the Punjab Assembly, W
Published 02 Mar, 2011 12:00am
NH&MP officers urged to render selfless service

NH&MP officers urged to render selfless service

A selfless service and devotion towards duties and rendering help to the road users in distress are the key factors which have added much to the honour and dignity of the department. This was stated by the Deputy Inspector General, National Highway and Mo
Published 02 Mar, 2011 12:00am
Thousands of industrial workers lose jobs

Thousands of industrial workers lose jobs

A large number of workers and daily wagers have lost their jobs in the wake of closure of industries in Faisalabad due to five days a week gas loadshedding. Expressing resentment over new load management plan, Wasim Latif, Chairman and Adil Manzoor Elahi,
Published 02 Mar, 2011 12:00am
'Self-reliance main key to get economic progress'

'Self-reliance main key to get economic progress'

Self-reliance is the main key to get economic progress for any country. Pakistan has great potential so with all available resource this potential can be exploited to ensure the economic development.
Published 02 Mar, 2011 12:00am
'PBIT promoting formation of new REIT structure'

'PBIT promoting formation of new REIT structure'

With a view to create awareness about the concept of Real Estate Investment Trust (REIT) to the potential investors, Punjab Board of Investment & Trade (PBIT) organised REIT stakeholders' conference here on Tuesday. Director General Projects PBIT Moazzam
Published 02 Mar, 2011 12:00am
Sindh Assembly adopts two resolutions

Sindh Assembly adopts two resolutions

Setting aside rhetoric and tirades by the PPP members against Nawaz Sharif, the Chief Minister Sindh Qaim Ali Shah chose a compromising stance urging PML (N) to let each other exercise its electoral mandate and should refrain from damaging the democratic
Published 02 Mar, 2011 12:00am
Launch of MTS on the cards

Launch of MTS on the cards

The launch of Margin Trading System (MTS) is on cards as all the arrangements are being made for implementation of the new leverage product. The National Clearing Company of Pakistan Limited (NCCPL), on Tuesday issued necessary documents for the admission
Published 02 Mar, 2011 12:00am
Launch of MTS on the cards

Launch of MTS on the cards

The launch of Margin Trading System (MTS) is on cards as all the arrangements are being made for implementation of the new leverage product. The National Clearing Company of Pakistan Limited (NCCPL), on Tuesday issued necessary documents for the admission
Published 02 Mar, 2011 12:00am
Gas discovery

Gas discovery

This is with reference to the news published in Business Recorder "POL discovers 16.3mmcfd of gas in Tolanj -1 well" dated February 16, 2011. The gas discovery has been made by M/s MOL Pakistan Oil & Gas Co, operator of TAL Block. POL is a joint ve
Published 02 Mar, 2011 12:00am
SCBA for early recovery of kidnapped judges, lawyers

SCBA for early recovery of kidnapped judges, lawyers

Supreme Court Bar Association (SCBA) Vice President, Jhanzaib Jadoon on Tuesday, in a strong terms flayed the growing incidents of kidnapping of people representing the legal fraternity of Balochistan and demanded the early and safe recovery of two kidnap
Published 02 Mar, 2011 12:00am
DuPont to provide health cover to 250 children

DuPont to provide health cover to 250 children

DuPont Pakistan Operations (Pvt) Ltd, under the DuPont Community Fund Programme has collaborated with Naya Jeevan to provide health insurance plan coverage to almost 250 children of SOS Village and 100 resident mothers and domestic staff. Under this progr
Published 02 Mar, 2011 12:00am
Motorcycle lifters' gang busted

Motorcycle lifters' gang busted

Islamabad Police have busted a gang of motorcycle lifters and recovered four motorcycles from their possession, while 120 proclaimed offenders were also nabbed last month. The spokesman of Islamabad Police, Naeem Iqbal said that Shalimar Police on Tuesday
Published 02 Mar, 2011 12:00am
Demand of raise in salaries: YDA boycotts routine duties

Demand of raise in salaries: YDA boycotts routine duties

Young Doctors Association (YDA) of Rawalpindi boycotted their routine duties in protest against no increase in salaries and NAB's occupation of the girl's hostel belonging to the Rawalpindi Medical College here on Tuesday. All the house officers and postg
Published 02 Mar, 2011 12:00am
Rs 100 million sanctioned for Quetta Master Plan

Rs 100 million sanctioned for Quetta Master Plan

Balochistan Minister for Urban Development Haji Muhammad Ismail Gujjar has said that Rs 100 million has been sanctioned for Quetta Master Plan, adding basic civic amenities related uplift projects would be executed with these funds. In a statement issued
Published 02 Mar, 2011 12:00am
Government urged to evolve strong, sustained wheat export policy

Government urged to evolve strong, sustained wheat export policy

The Wheat Traders Association of Pakistan (WTAP) commends the government for facilitating export of wheat, which is progressing. The association through a press release points out certain critical factors to the Ministry of Food and Agriculture and the Mi
Published 02 Mar, 2011 12:00am
'Mera Pakistan Conference' on March 11

'Mera Pakistan Conference' on March 11

Karachi Chamber of Commerce & Industry (KCCI), in collaboration with COMMECS, is organising 'Mera Pakistan Conference 2011' at a local hotel on March 11. "It is not a conference but a big issue to address the perception of Pakistan positively," said Moham
Published 02 Mar, 2011 12:00am
Prime Minister urged to withdraw hike in POL prices

Prime Minister urged to withdraw hike in POL prices

The traders and industrialists have urged Prime Minister Yousuf Raza Gilani to withdraw increase in oil prices and chalked out some other strategy for generating revenues. They termed the increase in petroleum prices as "extortion" from the general public
Published 02 Mar, 2011 12:00am
'Increase in oil prices to support ailing fiscal position'

'Increase in oil prices to support ailing fiscal position'

The government's unpopular decision to increase petroleum prices by almost 10 percent inducing inflationary pressure would provide much needed support to the ailing fiscal position, analysts said. The local oil prices were maintained for last three months
Published 02 Mar, 2011 12:00am
Hike in POL products' prices

Hike in POL products' prices

As the clock was ticking towards midnight on the last day of February, 2011, the government of Pakistan was finally forced to announce a substantial increase in domestic oil prices, signalling an end of a four-month freeze, forced on it by the opposition
Published 02 Mar, 2011 12:00am
Pakistanis trapped in Libya

Pakistanis trapped in Libya

As Libya descends deeper and deeper into turmoil, the UNHCR says a "humanitarian emergency" is underway. Nearly a hundred-thousand foreign nationals working in the country have fled. Since a majority of these people came from neighbouring Tunisia and Egyp
Published 02 Mar, 2011 12:00am
Capital gain tax rules

Capital gain tax rules

The capital gain tax has been imposed on the sale of securities from the year 2010-2011. After a lapse of almost eight months of its imposition, the Federal Board of Revenue (FBR) was at last able to announce detailed rules for computation of tax liabilit
Published 02 Mar, 2011 12:00am
Electricity rationing a viable solution

Electricity rationing a viable solution

Pakistan is facing a two-fold energy crisis, leading to load-shedding and rising prices. It is becoming rather difficult to add new generation, while keeping the prices low. Every new unit produced is causing increase in tariff and there seems to be no ne
Published 02 Mar, 2011 12:00am
Azerbaijan fears neighbour Iran's 'radical' influence

Azerbaijan fears neighbour Iran's 'radical' influence

The Iranian potatoes, oranges and raisins on sale in the bazaars of Astara are not the only signs of the Islamic republic's influence in this Azerbaijani border town. There is also the Iranian television station, which beams the news according to Tehran i
Published 02 Mar, 2011 12:00am
Holding time hostage to 'talks'

Holding time hostage to 'talks'

Syed Yousuf Raza Gilani, a big time bank loan defaulter, will go down in the history of Pakistan as perhaps the most incompetent, inept, "do-nothing" prime minister of the country, a scatter-brain who cannot even speak coherently for two minutes and thriv
Published 02 Mar, 2011 12:00am
Khushhali Bank sponsors IBA Verve 2011

Khushhali Bank sponsors IBA Verve 2011

Khushhali Bank sponsored the IBA Verve 2011, which recently took place at a local hotel. The intent of the IBA Verve 2011 was to acknowledge the contributions being made by young entrepreneurs in various sectors which prove to be vital building blocks for
Published 02 Mar, 2011 12:00am
Car lifters' gang busted in Quetta

Car lifters' gang busted in Quetta

Kharotabad police arrested a three-member car lifter gang and recovered a stolen car from their possession on Tuesday. Acting on a tip-off, a police party of PS Kharotabad conducted raid at a place and apprehended the car lifter gang, police sources said
Published 02 Mar, 2011 12:00am
Three persons killed in separate incidents

Three persons killed in separate incidents

At least three persons including a woman were killed in separate incidents in various parts of the metropolis on Tuesday. According to details, a man was gunned down by his friend in Naval Colony Baldia in the remits of Saeedabad police station.
Published 02 Mar, 2011 12:00am
'Ansar Burney Welfare Trust serving humanity selflessly'

'Ansar Burney Welfare Trust serving humanity selflessly'

Dignity is not something which one can achieve by doing something extraordinary but only by the purity of one's heart towards his cause. Ansar Burney's is such a dignified organisation which serves humanity selflessly, with complete purity of heart.
Published 02 Mar, 2011 12:00am
Quetta receives 45mm rain

Quetta receives 45mm rain

The provincial capital has received 45 millimetre of rain during the last 24 hours. The city would get more rain and snow on the hilltops in next 12 hours. According to the a statement of the meteorological department, issued on Tuesday, Quetta city recei
Published 02 Mar, 2011 12:00am
'Government should take concrete steps to save tourist places'

'Government should take concrete steps to save tourist places'

Due to the law and order situation in the country, the sightseeing/tourist places for the international tourists, are almost idle, this is the high time that government should take some drastic actions to save the tourist places and the heritage of Pakist
Published 02 Mar, 2011 12:00am
KU scientist elected as PAS Fellow

KU scientist elected as PAS Fellow

Professor Dr Khalid M. Khan, a senior scientist of the International Centre for Chemical and Biological Sciences (ICCBS), Karachi University (KU), has been elected as Fellow of the Pakistan Academy of Sciences (PAS).
Published 02 Mar, 2011 12:00am
Zareen visits Al-Shifa Trust Rehabilitation Centre

Zareen visits Al-Shifa Trust Rehabilitation Centre

Ms Zareen Khan Yousufzai, Wife of Managing Director PIA visited Al-Shifa Trust Rehabilitation Centre for special children. Ms Yousufzai visited the centre to examine the facilities and care being given to special children. "The most vulnerable people of o
Published 02 Mar, 2011 12:00am
Family seeks whereabouts of missing man

Family seeks whereabouts of missing man

The family members of a missing Arif Noor is seeking knowledge from law enforcing agencies about his whereabouts since police picked him up from his resident in Karachi. Sister of Arif did not reveal her name sitting along other family members spoke about
Published 02 Mar, 2011 12:00am
Newborn kidnapped from Civil Hospital

Newborn kidnapped from Civil Hospital

Incidents of new-borns' kidnapping are rapidly increasing in the government hospitals of the metropolis as in another incident a baby-boy was abducted from Civil Hospital Karachi (CHK) on Tuesday. This was the third incident during the last 12 months when
Published 02 Mar, 2011 12:00am
NIB Bank to increase capital by Rs 8.575 billion

NIB Bank to increase capital by Rs 8.575 billion

With the objective of keeping the Bank strong and well-capitalised, the Board of Directors of NIB Bank announced to issue 6,259,124,088 new Rights shares at a price of Rs 1.37 per share, subject to all corporate and regulatory approvals. The proceeds of t
Published 02 Mar, 2011 12:00am
Meezan Bank receives 'Best Islamic Bank in Pakistan' award

Meezan Bank receives 'Best Islamic Bank in Pakistan' award

Meezan Bank, Pakistan's first and largest Islamic bank, has been awarded 'Best Islamic Bank in Pakistan' for 2010 by Islamic Finance News of REDmoney Group in a ceremony held in Kuala Lumpur Malaysia. The Islamic Finance News (IFN) Awards honour the best
Published 02 Mar, 2011 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

Gold prices rose more than 1 percent on Tuesday to within a dollar of their record high, and silver hit a 31-year peak, as chaos in Libya and political turmoil in the Arab world prompted safe-haven buying.
Published 02 Mar, 2011 12:00am
US MIDDAY: copper lower

US MIDDAY: copper lower

Copper snapped a three-day winning streak to end lower on Tuesday as ongoing unrest in the Middle East and rising oil prices ignited inflation concerns, fuelling a reduction of risk across the broader base complex. COMEX copper for May delivery rose 1.30
Published 02 Mar, 2011 12:00am
US MIDDAY: grain futures fall

US MIDDAY: grain futures fall

Corn, soyabeans and wheat futures fell in early trade at the Chicago Board of Trade on Tuesday as heavy fund buying that was expected on the first of the month failed to materialise. Heavy volatility during the past week kept funds on the sidelines, and m
Published 02 Mar, 2011 12:00am
US MIDDAY: cocoa rebounds

US MIDDAY: cocoa rebounds

Cocoa futures in the US gyrated violently Tuesday in suspected computer-generated dealings which prompted the exchange to cancel some trades as traditional players complained of market distortion. Cocoa futures on ICE Futures US sank $450 in 60 seconds be
Published 02 Mar, 2011 12:00am
Gold at three-month high in European trade

Gold at three-month high in European trade

Gold hit three-month highs on Tuesday as escalating violence in Libya and unrest spreading across the Middle East boosted the metal's appeal as a safe-haven from risk, while silver hit fresh 31-year peaks. Gold has rallied strongly since uprisings in Tuni
Published 02 Mar, 2011 12:00am
Gold up in Asia

Gold up in Asia

Spot gold edged up on Tuesday as escalating unrest in Libya and the Middle East supported safe-haven demand, though holdings in the biggest gold-backed exchange-traded fund fell to the lowest level in more than nine months. Spot gold edged up 0.3 percent
Published 02 Mar, 2011 12:00am
US gold little changed

US gold little changed

Gold was little changed near $1,410 an ounce on Monday but notched its biggest monthly gain since August as chaos in Libya and rising tensions across the Middle East prompted investors to buy the metal as a safe haven. Despite its February gains, gold fai
Published 02 Mar, 2011 12:00am
Liffe cocoa falls

Liffe cocoa falls

Liffe May cocoa ends down 56 pounds at 2,325 pounds a tonne on Tuesday, having earlier hit a fresh 7-month top of 2,389 pounds, and was later pushed lower by the ICE market after sell stops were hit. Market is supported by violence in Ivory Coast as the w
Published 02 Mar, 2011 12:00am
US soyabeans lower

US soyabeans lower

US soyabean futures closed slightly lower on Monday, pressured by expectations for a robust South American soybean harvest, traders said. May soyabeans settled 10-1/4 cents a bushel lower at $13.64-3/4, while new-crop November was down 4-3/4 cents at $13.
Published 02 Mar, 2011 12:00am
Spectre of Ivorian war primes cocoa rally

Spectre of Ivorian war primes cocoa rally

Cocoa futures in the US on Monday rocketed to a 32-year peak as gun battles in top grower Ivory Coast inspired fears a civil war would severely disrupt supplies from the beleaguered African nation. Gunfire flared near the centre of the Ivorian capital of
Published 02 Mar, 2011 12:00am
Malaysian palm oil jumps 2.6 percent

Malaysian palm oil jumps 2.6 percent

Malaysian palm oil futures jumped as much as 2.6 percent on Tuesday as traders focused on buoyant crude markets setting the stage for growing biodiesel demand. Although palm oil is less likely to be channelled into biofuels due to lack of government subsi
Published 02 Mar, 2011 12:00am
Tokyo rubber futures up

Tokyo rubber futures up

Tokyo rubber futures rose 2.3 percent to near a one-week high on Tuesday on strong oil prices and a recovery stock markets, but concerns of unrest in Libya added downward pressure, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchang
Published 02 Mar, 2011 12:00am
Brent oil rises above $115

Brent oil rises above $115

Brent crude oil pushed back above $115 a barrel on Tuesday as supply disruptions and the potential for more as unrest spreads in the Middle East and North Africa had investors on edge. US crude rose more than 2 percent and pushed above $99 a barrel as a R
Published 02 Mar, 2011 12:00am
Copper retreats

Copper retreats

Copper retreated from two-week highs on Tuesday as worries over Middle East unrest boosted oil prices and ignited inflation concerns, which encouraged investors to sell risky assets such as base metals. Copper traded at $9,815.50 a tonne at 1603 GMT, down
Published 02 Mar, 2011 12:00am
Shanghai copper down

Shanghai copper down

London copper fell by more than half percent on Tuesday after data from China showed a rise in input prices in February, and a drop in growth in manufacturing to a seven-month low. Shanghai's most active copper contract lost 0.4 percent to 74,000 yuan.
Published 02 Mar, 2011 12:00am
US copper higher

US copper higher

Copper ended up for a third straight session on Monday, extending a bounce from last week's near one-month low, as healthier economic prospects boosted sentiment and outweighed the shorter-term headwinds in the Middle East. COMEX copper for May delivery s
Published 02 Mar, 2011 12:00am
New York cotton futures settle higher

New York cotton futures settle higher

US cotton futures closed higher Tuesday on speculative buying but profit-taking knocked the market back after it rose the daily limit, analysts said. Open interest in cotton futures fell to its lowest level in 7 months as investors rotated out of cotton a
Published 02 Mar, 2011 12:00am
Hidden foreign hand is involved in Balochistan unrest: Malik

Hidden foreign hand is involved in Balochistan unrest: Malik

Hidden foreign hand is involved in creating law and order situation in Balochistan and it is responsibility of political leadership of the province as well as the administration to expose it, said Rehman Malik, Federal Minister for Interior here on Tuesda
Published 02 Mar, 2011 12:00am
FIA orders Moonis to get interim bail

FIA orders Moonis to get interim bail

The Federal Investigation Agency (FIA) on Tuesday ordered PML-Q leader Moonis Elahi to produce himself for investigation in NICL case after getting interim bail from a court. According to FIA sources, Moonis Elahi, an accused of NICL scam, appeared before
Published 02 Mar, 2011 12:00am
Explosive device detonates

Explosive device detonates

An explosive device carried by a suspect mysteriously went off in the limits of Sukhen police station. According to the reports, blast exploded in the bushes of the suburb area of Sukhen police station of Shah Latif Town. Police said that blast blown up n
Published 02 Mar, 2011 12:00am
PPP Punjab ministers can retain perks for 15 days

PPP Punjab ministers can retain perks for 15 days

The ministers of Punjab cabinet can retain their perks and privileges, after relieving from their portfolios, for 15 days. Punjab Assembly sources confided to APP, here on Tuesday, that according to the perks and privileges of the Punjab Assembly, the rel
Published 02 Mar, 2011 12:00am
Karachi transporters announce strike

Karachi transporters announce strike

The Karachi Transport Ittehad President Syed Irshad Hussain Bukhari on Tuesday announced that they would observe a strike for an indefinite period from Thursday, March 3, 2011. He appealed to political and social organisations to support their strike in t
Published 02 Mar, 2011 12:00am
German defence minister quits

German defence minister quits

German Defence Minister Karl-Theodor zu Guttenberg resigned on Tuesday after admitting to copying part of a doctoral dissertation, stunning Angela Merkel and depriving her conservatives of their brightest star. Guttenberg, 39, was the most popular member
Published 02 Mar, 2011 12:00am
Cuban reforms to take 'at least 5 years': Castro

Cuban reforms to take 'at least 5 years': Castro

Cuba will need "at least five years" to see through economic reforms after encountering problems in plans to lay off half a million state workers, President Raul Castro said. "Carrying out our model is not the task of just one day, not even of one year, a
Published 02 Mar, 2011 12:00am
Oman army tries to disperse protests, wounds one

Oman army tries to disperse protests, wounds one

Omani troops fired into the air near a port on Tuesday to clear a fourth day of protests by people demanding jobs and political reforms, wounding one person in the town of Sohar, witnesses said. "We were about 200 to 300 people on the road. The army start
Published 02 Mar, 2011 12:00am
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