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Archive - 2011-03-18
Samsung unit fined $32m for price-fixing
Top News

Samsung unit fined $32m for price-fixing

WASHINGTON: A unit of Korean conglomerate Samsung was fined $32 million dollars for involvement in an Asian price fixing
Published 18 Mar, 2011 10:57pm
WB offers $200m loan to SSGC
Industry

WB offers $200m loan to SSGC

ISLAMABAD: The World Bank (WB) has offered a loan of $ 200 million to the Sui Southern Gas Pipelines Company (SSGC) for
Published 18 Mar, 2011 06:19pm
Ivory Coast violence escalates
Africa

Ivory Coast violence escalates

ABIDJAN: The Ivory Coast crisis escalated on Friday after a massacre of up to 30 civilians blamed on forces loyal to s
Published 18 Mar, 2011 02:08pm
SBP conducts Open Market Operation
Top News

SBP conducts Open Market Operation

KARACHI: State Bank of Pakistan (SBP) conducted Open Market Operation (OMO) and injected Rs 46.5 billion under its 7-
Published 18 Mar, 2011 12:53pm
Bhutanese PM arrives on three-day visit
Top News

Bhutanese PM arrives on three-day visit

ISLAMABAD: Prime Minister of the Kingdom of Bhutan Lyonchhen Jigmi Y Thinley arrived here on Friday night on a three-day
Published 18 Mar, 2011 12:36pm
Sarah Palin in India on overseas tour
Top News

Sarah Palin in India on overseas tour

NEW DELHI: Former US vice presidential nominee Sarah Palin, who may run against Barack Obama next year, has arrived in I
Published 18 Mar, 2011 12:01pm
Saudi king wields carrot and stick
Top News

Saudi king wields carrot and stick

RIYADH: Saudi King Abdullah on Friday announced unprecedented economic benefits worth tens of billions of dollars and wa
Published 18 Mar, 2011 11:28am
Another 400 Pakistanis return from Libya
Top News

Another 400 Pakistanis return from Libya

ISLAMABAD: More than 400 Pakistanis returned to the homeland from Libya on Friday. The process of bringing back Pakist
Published 18 Mar, 2011 11:06am
Another 400 Pakistanis return from Libya
Top News

Another 400 Pakistanis return from Libya

ISLAMABAD: More than 400 Pakistanis returned to the homeland from Libya on Friday. The process of bringing back Pakis
Published 18 Mar, 2011 11:01am
Another oil saga in the making
BR Research

Another oil saga in the making

As if the Arab unrest was not creating enough ripples in the international market, the quake in Japan has added fuel to fire; oil prices are
Published 18 Mar, 2011 12:00am
PIBs back in the game
BR Research

PIBs back in the game

Buoyed by signs of interest rate stability, the market has been witnessing improvement in the appetite for long tenor government papers of l
Published 18 Mar, 2011 12:00am
Textile GST: Tax, but tax all
BR Research

Textile GST: Tax, but tax all

The governments attempts to lubricate the countrys fiscal machinery through new tax impostions have left many exporters jittery. In particul
Published 18 Mar, 2011 12:00am
THE RUPEE: dollar down marginally

THE RUPEE: dollar down marginally

Rates changed marginally on the currency market on Thursday in process of trading, dealers said. The rupee recovered nine paisa against dollar for buying and selling at 85.38 and 85.43, they said.
Published 18 Mar, 2011 12:00am
Egypt frees brother of al-Zawahiri

Egypt frees brother of al-Zawahiri

Egypt freed Mohammed al-Zawahiri, brother of al Qaeda number two Ayman, on Thursday under an amnesty for political prisoners ordered by the transitional military government, security officials said. The brother had been in jail since 1999 when he was tran
Published 18 Mar, 2011 12:00am
Egypt frees brother of al-Zawahiri

Egypt frees brother of al-Zawahiri

Egypt freed Mohammed al-Zawahiri, brother of al Qaeda number two Ayman, on Thursday under an amnesty for political prisoners ordered by the transitional military government, security officials said. The brother had been in jail since 1999 when he was tran
Published 18 Mar, 2011 12:00am
Judge who decided Davis case goes on leave

Judge who decided Davis case goes on leave

Additional District and Sessions Judge Lahore Muhammad Yousaf Aoujla who decided the Raymond Davis case Wednesday, went on leave on Thursday. According to official sources, Aoujla met the District and Sessions Judge Lahore here and after the meeting he le
Published 18 Mar, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (March 17, 2011).

Published 18 Mar, 2011 12:00am
Judge who decided Davis case goes on leave

Judge who decided Davis case goes on leave

Additional District and Sessions Judge Lahore Muhammad Yousaf Aoujla who decided the Raymond Davis case Wednesday, went on leave on Thursday. According to official sources, Aoujla met the District and Sessions Judge Lahore here and after the meeting he le
Published 18 Mar, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (March 17, 2011).

Published 18 Mar, 2011 12:00am
Non-essential, luxury imports: 2.5 percent SED will be applicable

Non-essential, luxury imports: 2.5 percent SED will be applicable

The enhanced rate of 2.5 percent of special excise duty (SED) would be applicable on notified categories of nonessential and luxury imports and domestic manufactures of air conditioners, beverages, cigarettes, cosmetics, deep freezers, detergents, motor c
Published 18 Mar, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Thursday (March 17, 2011).

Published 18 Mar, 2011 12:00am
Non-essential, luxury imports: 2.5 percent SED will be applicable

Non-essential, luxury imports: 2.5 percent SED will be applicable

The enhanced rate of 2.5 percent of special excise duty (SED) would be applicable on notified categories of nonessential and luxury imports and domestic manufactures of air conditioners, beverages, cigarettes, cosmetics, deep freezers, detergents, motor c
Published 18 Mar, 2011 12:00am
Non-essential, luxury imports: 2.5 percent SED will be applicable

Non-essential, luxury imports: 2.5 percent SED will be applicable

The enhanced rate of 2.5 percent of special excise duty (SED) would be applicable on notified categories of nonessential and luxury imports and domestic manufactures of air conditioners, beverages, cigarettes, cosmetics, deep freezers, detergents, motor c
Published 18 Mar, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (March 17, 2011).

Published 18 Mar, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (March 17, 2011).

Published 18 Mar, 2011 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 18 Mar, 2011 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 18 Mar, 2011 12:00am
Malaysia seizes 'possible' nuclear-arms parts

Malaysia seizes 'possible' nuclear-arms parts

Malaysian police confirmed on Thursday they have seized two containers which may contain parts used to make nuclear weapons, from a ship bound for western Asia. "I can confirm that we have seized the containers at Port Klang but we do not know yet whether
Published 18 Mar, 2011 12:00am
Malaysia seizes 'possible' nuclear-arms parts

Malaysia seizes 'possible' nuclear-arms parts

Malaysian police confirmed on Thursday they have seized two containers which may contain parts used to make nuclear weapons, from a ship bound for western Asia. "I can confirm that we have seized the containers at Port Klang but we do not know yet whether
Published 18 Mar, 2011 12:00am
Two Nato oil containers torched

Two Nato oil containers torched

Unidentified militants on Thursday torched two containers, carrying fuel for Nato forces stationed in Afghanistan near Karkhano market. Police said the gunmen attacked the containers in wee hours in front of busy Karkhano market on Peshawar-Torkhum Road a
Published 18 Mar, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (March 17, 2011).

Published 18 Mar, 2011 12:00am
Plight of medical students studying in Cuba

Plight of medical students studying in Cuba

The parents of medical students studying in Cuba since July 2008 have appealed to the President Zardari and Prime Minister Gilani to implement the recommendation of Senate Standing Committee on Education and send a delegation to Cuba to find facts about t
Published 18 Mar, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (March 17, 2011).

Published 18 Mar, 2011 12:00am
Man commits suicide after killing wife

Man commits suicide after killing wife

A man committed suicide after killing his wife on Thursday. According to police, Qabli Khan of Chak No 22/10-R quarrelled with his wife on a domestic issue. As a result, he shot his wife dead and also took his own life.
Published 18 Mar, 2011 12:00am
The Weather

The Weather

The weather report on Thursday (March 17, 2011) and the forecast for Friday (March 18, 2011).

Published 18 Mar, 2011 12:00am
Ceremony held to honour, support 40 courageous ladies

Ceremony held to honour, support 40 courageous ladies

As a part of the Jazba Foundation Women Entrepreneurship Programme, a ceremony was held at a local club to honour and support 40 more courageous ladies of talent and ability. Among these 40 ladies, 11 want to set up computer academies, 12 have sought trai
Published 18 Mar, 2011 12:00am
Speakers for cementing agriculture ties between Pakistan and India

Speakers for cementing agriculture ties between Pakistan and India

Speakers at Alumina Association, UAF on Wednesday called for cementing agricultural ties between Pakistan and India and to increase farmer-to-farmer and trader-to-trader contacts. Sitting and former vice chancellors of various universities across the coun
Published 18 Mar, 2011 12:00am
Symposium on livestock production held

Symposium on livestock production held

It is need of the hour to expand livestock industry as for there is a lot of potential in exporting Halal meat after meeting our requirement, said Livestock & Dairy Development, Punjab, Chief Executive General Muhammad Ali (Retd) on Thursday. He was addre
Published 18 Mar, 2011 12:00am
Tetra Pak chief visits LUMS

Tetra Pak chief visits LUMS

President and CEO of Tetra Pak Group, Dennis Jönsson, visited LUMS on Thursday and met with the management and faculty members. He was welcomed by Syed Babar Ali, Pro Chancellor, Abdul Razak Dawood, Rector, Dr Ahmad Jan Durrani, Vice Chancellor and Dr Zaf
Published 18 Mar, 2011 12:00am
Three soldiers among four killed in Balochistan bomb attack

Three soldiers among four killed in Balochistan bomb attack

Two separate bomb attacks on paramilitary convoys in Balochistan province on Thursday killed four people including three soldiers, officials said. The separatist Baloch Republican Army claimed responsibility for the first attack, in which a remotely-deton
Published 18 Mar, 2011 12:00am
'Brazil keen to enhance bilateral trade with Pakistan'

'Brazil keen to enhance bilateral trade with Pakistan'

Brazilian Ambassador to Pakistan, Alfredo Leoni has pledged to promote and enhance bilateral trade relations between Brazil and Pakistan. Addressing the members of Sialkot Chamber of Commerce and Industry (SCCI) on Wednesday, he said the main reason to vi
Published 18 Mar, 2011 12:00am
Young doctors asked to end strike by March 21

Young doctors asked to end strike by March 21

The Punjab Health Department has warned thousands of young doctors of the government hospitals to end their strike by 21st March otherwise their services would be terminated. The health department sources told Business Recorder here on Thursday tha
Published 18 Mar, 2011 12:00am
Seminar on horticulture, agribusiness in developing countries held

Seminar on horticulture, agribusiness in developing countries held

Ex-foreign Minister, Makhdoom Shah Mahmood Qureshi has said agriculture sector and farmers of the country can bring the country out of financial crisis. He was addressing the participants of a seminar on "Horticulture and Agribusiness in Developing Countr
Published 18 Mar, 2011 12:00am
Agreement inked for Fata healthcare system uplift

Agreement inked for Fata healthcare system uplift

The Directo-rate of Health and Population Welfare on Thursday signed a Memorandum of Understanding to improve the delivery of emergency healthcare in Federally Administered Tribal Areas (Fata). The three-year project, signed with the Community Appraisal a
Published 18 Mar, 2011 12:00am
One killed in Bannu

One killed in Bannu

One person was killed and two others injured during bloody shootout between two rival groups over petty dispute on Thursday, Police said. The rival groups came face to face with each other at Ghuria area and opened volley of bullets, killing Samiullah and
Published 18 Mar, 2011 12:00am
Trade bodies reject new SROs

Trade bodies reject new SROs

All trade bodies including Sialkot Chamber of Commerce and Industry (SCCI) have unanimously rejected the new SROs 230, 231 and demanded its immediate withdrawal. Addressing a press conference at Sialkot Chamber of Commerce and Industry (SCCI) on Thursday
Published 18 Mar, 2011 12:00am
Income tax payable: MCCI opposes imposition of 15 percent surcharge

Income tax payable: MCCI opposes imposition of 15 percent surcharge

The Multan Chamber of Commerce and Industry (MCCI) on Thursday opposed imposition of one-time 15 percent surcharge on income tax payable during the financial year 2010-11. They opposed increase in Excise Duty and Sales Tax on all inputs including imports
Published 18 Mar, 2011 12:00am
Five major sectors: PHMEA rejects withdrawal of zero-rating

Five major sectors: PHMEA rejects withdrawal of zero-rating

Vice Chairman, Pakistan Hosiery Manufacturers and Exporters Association (PHMEA), North Zone, Faisal Mahboob has rejected withdrawal of zero rating on the local sales of five zero-rated sectors without consulting major stakeholders.
Published 18 Mar, 2011 12:00am
Rains likely in upper parts

Rains likely in upper parts

The Pakistan Meteorological Department Lahore has on Thursday forecast rain/dust-thundershower in the upper parts of the country for the next two days. According to the Met office, a fresh westerly wave, likely to effect upper parts of the country from Fr
Published 18 Mar, 2011 12:00am
'Pakistan wants more access to EU markets'

'Pakistan wants more access to EU markets'

Minister of State for Foreign Affairs Hina Rabbani Khar said on Thursday that Pakistan wanted to work together with the European Union (EU) to get more market access. She was talking to EU Ambassador and Head of EU Delegation to Pakistan Lars-Gunnar Wigem
Published 18 Mar, 2011 12:00am
KoRail to facilitate setting up of dry port: accord signed

KoRail to facilitate setting up of dry port: accord signed

In a major initiative, Lahore Chamber of Commerce and Industry (LCCI) on Thursday inked a Memorandum of Understanding with Korea Railroad Corporation (KoRail) to act as a facilitator to establish a modern and functioning Dry Port in Sheikhupura.
Published 18 Mar, 2011 12:00am
Seven including four political activists fall prey to targeted killings

Seven including four political activists fall prey to targeted killings

Tension gripped many parts of the city as the unabated targeted killings claimed seven more lives including four political workers and a cop here on Thursday. The killings took place in different parts of the city. A bullet-riddled body of a youth was fou
Published 18 Mar, 2011 12:00am
Annual business, strategy conference 2011

Annual business, strategy conference 2011

Let's synergize our actions to serve the customers and the national economy' said Qamar Hussain, NBP President. 'Our key objective for the future is to put our vision into action to take the Bank forward; our main cause of concern should be to reduce NPLs
Published 18 Mar, 2011 12:00am
Business community rejects Presidential Ordinances

Business community rejects Presidential Ordinances

Business community termed that the government has imposed a 120-billion-rupee 'mini-budget' through presidential ordinances, envisaging 53 billion rupees of additional taxes on income, imports, agriculture and domestic sales of export-oriented items and d
Published 18 Mar, 2011 12:00am
Switzerland CG visits HCCI

Switzerland CG visits HCCI

The Switzerland Consul General, Didier Boschung visited Hyderabad Chamber of Commerce & Industry. Addressing the members of the chamber, Boschung said that Switzerland is a land locked country situated in the heart of Europe and generally known for beauti
Published 18 Mar, 2011 12:00am
Naveed opens fifth session of Pak-Uzbek JMC

Naveed opens fifth session of Pak-Uzbek JMC

The 5th session of Pakistan-Uzbekistan Joint Ministerial Commission (JMC) will provide a solid base to build economic and cultural partnership on rising trajectory. Syed Naveed Qamar Federal Minister for Privatisation, Water & Power said in the opening se
Published 18 Mar, 2011 12:00am
Qadir elected NCCPL's Board Chairman

Qadir elected NCCPL's Board Chairman

Abdul Qadir Memon has been elected as the Chairman of the Board of National Clearing Company of Pakistan Limited (NCCPL). Abdul Qadir Memon is a fellow of the Institute of Taxation Management of Pakistan. He is a renowned tax and corporate law expert and
Published 18 Mar, 2011 12:00am
Governor SBP visits OICCI

Governor SBP visits OICCI

Governor, State Bank of Pakistan (SBP), Shahid H Kardar visited the Overseas Investors Chamber of Commerce and Industry (OICCI) recently to discuss the fiscal deficit of the country and its impact on foreign investments in Pakistan.
Published 18 Mar, 2011 12:00am
Traders hold protest rally

Traders hold protest rally

Traders organised an impressive rally on Thursday which began from Wali Muhammad Mosque in Chowk Bazar led by Khalid Mehmood Qureshi and Jafar Shah. More than 300 people joined it. They were shouting slogans against the United States, Pakistani rulers. Th
Published 18 Mar, 2011 12:00am
$2 million deal heals US-Pakistan spy row but scars ties

$2 million deal heals US-Pakistan spy row but scars ties

A blood money deal to secure the release of a CIA contractor accused of murder in Pakistan has ended a damaging spy row but eroded a thin veneer of trust between the suspicious allies, analysts say. The sudden freeing of American Raymond Davis on Wednesda
Published 18 Mar, 2011 12:00am
Imran terms Davis release 'match-fixing'

Imran terms Davis release 'match-fixing'

While terming the release of Raymond Davis as 'match fixing,' Chairman Pakistan Tehrik-e-Insaf (PTI) on Thursday lashed out at the federal and provincial governments for the move and also announced countrywide protest from Friday (today).
Published 18 Mar, 2011 12:00am
Jamaat-e-Islami demonstration slams US national's release

Jamaat-e-Islami demonstration slams US national's release

Jamaat-e-Islami Buner chapter here Thursday staged a protest demonstration against the release of US national Raymond Davis charged with double murder. The protestors holding large placards and banners inscribed with anti American and Davis slogans marche
Published 18 Mar, 2011 12:00am
Khyber Pakhtunkhwa minister defends court verdict

Khyber Pakhtunkhwa minister defends court verdict

Khyber Pakthunkhwa Law Minister, Barrister Arshad Abullah said Thursday that accusing government on release of US national Raymond Davis is not appropriate as he was set free by the court after the grant of pardon by the legal heirs of victims.
Published 18 Mar, 2011 12:00am
Lawyers to observe 'Black Day' today

Lawyers to observe 'Black Day' today

The legal fraternity here in town staged strong protest against the release of Raymond Davis while Lahore High Court Bar Association has announced to observe black-day on Friday (today). Punjab Bar Council gave courts' boycott call to the lawyers for Thur
Published 18 Mar, 2011 12:00am
Faisal Colony Jampur flood victims: 20 modern houses to be constructed

Faisal Colony Jampur flood victims: 20 modern houses to be constructed

The Muslim community of Ghausia Mosque in Rotterdam, Holland, will construct 20 modern houses at a cost of Rs 7 million for the flood-victims of Faisal Colony Jampur. This was stated by a delegation of the Muslim Community of Holland in a meeting with Kha
Published 18 Mar, 2011 12:00am
16th GCU parliamentary debate contest begins

16th GCU parliamentary debate contest begins

The 16th Annual GCU Parliamentary Debating Championship, the largest and most prestigious parliamentary debates hosted by any educational institution, on Thursday kicked off at the Government College University Lahore. As many as 70 teams of orators from
Published 18 Mar, 2011 12:00am
Notices served on four dye units

Notices served on four dye units

Environment Protection Department (EPD) of the city district government issued notices to four dye units operating near Shahdara. EPD sources told newsmen on Thursday that those dye units were working without any proper waste disposal and the untreated ef
Published 18 Mar, 2011 12:00am
Supply of 150 locomotives China's GE willing to re-bid

Supply of 150 locomotives China's GE willing to re-bid

Chinese company General Electric (GE) has again expressed willingness to participate in the re-bidding process for supply of 150 locomotives to Railways and a tender would soon be floated in the international market, it is learnt. GE was again invited by
Published 18 Mar, 2011 12:00am
Prices of food items on the rise

Prices of food items on the rise

Prices of an entire range of food items as well as other items are on the rise after the imposition of 17 percent General Sales Tax (GST), a survey carried out by Business Recorder revealed.
Published 18 Mar, 2011 12:00am
'About 410,000 TB patients being diagnosed every year in Pakistan'

'About 410,000 TB patients being diagnosed every year in Pakistan'

About four lakh ten thousand TB patients are being diagnosed every year in Pakistan, while about 1.3 million cases have been successfully treated with provision of free drugs since the launching of programme in 2000, said Director General Health Ministry
Published 18 Mar, 2011 12:00am
LHC adjourns hearing of missing doctor's case

LHC adjourns hearing of missing doctor's case

The Lahore High Court adjourned to April 1 the hearing the case of Jinnah Hospital missing doctor Ali Abdullah as defence ministry informed the court that the case has been referred to Judicial Commission for missing people. Earlier Deputy Director legal
Published 18 Mar, 2011 12:00am
Quantum Geoservices launches operation

Quantum Geoservices launches operation

A seismic data processing company Quantum Geoservices has launched its operation in Pakistan, the launch event held at Marriott Islamabad was attended by over seventy key oil and gas experts from various oil exploration companies. Quantum Geoservices will
Published 18 Mar, 2011 12:00am
War against poverty is tougher than terrorism: Farzana

War against poverty is tougher than terrorism: Farzana

War against poverty is much tougher than the on-going war against terrorism and government is determined to fight on both fronts to steer the country out of the crises, said Farzana Raja, Chairperson, Benazir Income Support Programme (BISP) here on Thursd
Published 18 Mar, 2011 12:00am
Engro group plans IPOs to raise Rs five billion

Engro group plans IPOs to raise Rs five billion

Engro Corporation plans multiple initial public offerings (IPOs) of group companies to raise around Rs 5 billion ($58.5 million) this year and will continue to expand its domestic operations, a top official said on Thursday. IPOs of its food, fertiliser a
Published 18 Mar, 2011 12:00am
Citibank to give $100,000 to LUMS, Pak Micro Finance Network

Citibank to give $100,000 to LUMS, Pak Micro Finance Network

CCO and MD Citibank Arif Usmani said that Citibank will give 100,000 dollars to Lahore University of Management Sciences (LUMS) and Pakistan Micro Finance Network for doing research in Microfinance besides organising an International Conference at LUMS by
Published 18 Mar, 2011 12:00am
CJCSC calls on Turkish President

CJCSC calls on Turkish President

Chairman Joint Chiefs of Staff Committee (CJCSC), General Khalid Shameem Wynne, who is on an official visit to Turkey, called on Turkish President Abdullah Gull on Thursday. General Wynne apprised President Abdullah Gull of the ongoing efforts of Pakistan
Published 18 Mar, 2011 12:00am
EU/TRTA supports Pak labs for business planning

EU/TRTA supports Pak labs for business planning

European Union (EU)/Trade Related Technical Assistance (TRTA) Programme supports Pakistani Laboratories for Business Planning. The TRTA II Programme is a project funded by the EU, which aims at strengthening the capacity of Pakistan to participate in inte
Published 18 Mar, 2011 12:00am
'Wind telecom': Mobilink welcomes VimpelCom's support

'Wind telecom': Mobilink welcomes VimpelCom's support

Mobilink, Pakistan's market leader in cellular services and a part of Orascom Telecom Holding (OTH), welcomes the positive vote expressed by the majority of VimpelCom Ltd ("VimpelCom") shareholders in today's Special General Meeting ("VimpelCom SGM").
Published 18 Mar, 2011 12:00am
LSM statistics show upturn

LSM statistics show upturn

The latest Large Scale Manufacturing (LSM) statistics released by the Federal Bureau of Statistics show a positive trend: from registering a negative growth of 1.57 percent during the first six months of the current year (July-December) the figures for th
Published 18 Mar, 2011 12:00am
End of Raymond Davis saga

End of Raymond Davis saga

The case of Raymond Davis, the CIA contractor who killed two young men on a Lahore street nearly two months ago, came to a dramatic end on Wednesday. The additional district and sessions judge hearing the case acquitted him ordering his immediate release
Published 18 Mar, 2011 12:00am
Economy in shambles

Economy in shambles

Tragically, we have innumerable useless governmental departments that are incessantly failing to perform the functions for which they were formed - for example the Federal Board of Revenue that, after utter failure to tax the rich and mighty, has now deci
Published 18 Mar, 2011 12:00am
Japan's most vulnerable hit hardest by crisis

Japan's most vulnerable hit hardest by crisis

Japan's earthquake and tsunami have taken a disproportionate toll on the country's elderly, as the disasters struck areas with high concentrations of older people. These citizens are also more vulnerable to the harsh conditions in the improvised refuge ce
Published 18 Mar, 2011 12:00am
Aid: learning from Egypt

Aid: learning from Egypt

At the outset this is not an article praising our Egyptian brothers for their tremendous feat of removing a 30-year-old dictatorship. Political analysts are more competent to comment on the causes of and reasons behind the success of the revolution. For m
Published 18 Mar, 2011 12:00am
'Eminence grises' in Pakistan

'Eminence grises' in Pakistan

People may not know the identity or number of undesirables present in Pakistan, but it is no secret that a large number of practitioners and exponents of "dirty tricks" and other clandestine activities, under false identities are roaming about the streets
Published 18 Mar, 2011 12:00am
Textile training institute: TDAP given go-ahead to initiate project

Textile training institute: TDAP given go-ahead to initiate project

Secretary Commerce, Zafar Mahmood has given go-ahead signal to the chief of Trade Development Authority of Pakistan (TDAP), Tariq Iqbal Puri to take the initiative of establishing training institute for the textile sector. This was decided during a meetin
Published 18 Mar, 2011 12:00am
Fauji Akbar Portia Marine Terminals threatens to close facility

Fauji Akbar Portia Marine Terminals threatens to close facility

A private dry cargo handling terminal - Fauji Akbar Portia Marine Terminals (FAP) has threatened to close the $137 million facility permanently, if the government failed to protect workers and machinery from the dock labours violent attacks.
Published 18 Mar, 2011 12:00am
Seminar on 'Gender in Education Policy' organised

Seminar on 'Gender in Education Policy' organised

The United Nations Children's Fund (Unicef) and DFID organised a seminar on 'Gender in Education Policy' in collaboration with Sindh Education and Literacy Department here at a local hotel on Thursday. The seminar was organised under the Gender in Educati
Published 18 Mar, 2011 12:00am
Pemra issues show-cause notice to BBC Urdu

Pemra issues show-cause notice to BBC Urdu

Pakistan Electronic Media Regulatory Authority (Pemra) on Wednesday (March 16, 2011) issued a show cause notice to BBC Urdu for what it says publishing a misleading advertisement in the daily newspapers on March 15 and March 16 2011, inviting general publ
Published 18 Mar, 2011 12:00am
DCO, milk sellers meeting postponed

DCO, milk sellers meeting postponed

The meeting between DCO Karachi and milk sellers regarding the recent hike in milk prices, was postponed as the wholesalers did not show up, sources told Business Recorder on Thursday. Sources said that the Karachi Dairy Farmers' Association were a
Published 18 Mar, 2011 12:00am
'Sindh contributes 67 percent revenue to national exchequer'

'Sindh contributes 67 percent revenue to national exchequer'

Sindh Health Minister, Dr Sagheer Ahmed has said that Sindh contributes 67 percent revenue to the country and that Karachi's share in it is 62 percent. He said that Muttahida Qaumi Movement, while representing the people has informed the PPP leadership ab
Published 18 Mar, 2011 12:00am
'Absence of insurgency laws benefiting terrorists'

'Absence of insurgency laws benefiting terrorists'

Khyber Pakhtunkhwa Minister for Law and Parliamentary Affairs, Arshad Abdullah, has said that the lack of insurgency laws are benefiting the arrested suspect terrorists and called for speedy introduction of specific laws in the country. Speaking in Guest
Published 18 Mar, 2011 12:00am
Kidnapped boy recovered; three held

Kidnapped boy recovered; three held

Islamabad Police have arrested three men who had abducted a 17-year-old boy from Sector F-10/2 and were demanding Rs 5 million as ransom from his family. Police, after thorough investigation, raided a house in Bhara Kahu area and recovered the kidnapped b
Published 18 Mar, 2011 12:00am
Five persons crushed to death

Five persons crushed to death

Five persons were crushed to death while seven others injured when a truck carrying grit overturned on their huts. The gruesome incident occurred near Jamshoro railway crossing late Wednesday night. The deceased were identified as Naimat Shaikh, 28, her t
Published 18 Mar, 2011 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

Gold rose on Thursday on a combination of rallying crude oil, a decline in the dollar and an inflow into a major exchange-traded fund, with volume muted amid caution over Japan's nuclear crisis. A wave of cross-asset buying lifted gold. Global equity mark
Published 18 Mar, 2011 12:00am
US MIDDAY: copper up

US MIDDAY: copper up

Copper ended up on Thursday in its biggest one-day rally since November as buyer interest, particularly from China, began to percolate after Japan's nuclear crisis drove prices down to three-month lows this week. COMEX May copper rallied 3.5 percent, or 1
Published 18 Mar, 2011 12:00am
US MIDDAY: corn jumps

US MIDDAY: corn jumps

US grains surged on Thursday as investors looked past the nuclear crisis in Japan to a slump in the dollar and strong weekly export sales to take prices sharply higher, with corn locked at its daily trading limit for its biggest gain in nearly five months
Published 18 Mar, 2011 12:00am
US MIDDAY: coffee soars

US MIDDAY: coffee soars

Robusta futures charged up a 3-year peak Thursday as a shortage of deliverable supplies in the London coffee market stoked a rally which crossed the sea to New York arabica futures. New York's May arabica coffee contract rose 5.55 cents to close at $2.709
Published 18 Mar, 2011 12:00am
Gold surges in Europe

Gold surges in Europe

Gold rose on Thursday, sustained by an increase in exchange traded product (ETP) holdings, stronger physical demand and a weaker dollar, but investor selling to cover losses in other markets limited gains. Platinum and palladium fell as the market fretted
Published 18 Mar, 2011 12:00am
Gold drops in Asia

Gold drops in Asia

Gold dropped to stay below $1,400 on Thursday as mounting fears about a nuclear catastrophe in Japan prompted investors to sell bullion to cover losses in other markets, but a rise in ETF holdings suggested weaker prices had spurred buying interest.
Published 18 Mar, 2011 12:00am
US gold ends up

US gold ends up

US gold futures ended higher on Wednesday but the metal struggled to extend gains following the previous day's sharp decline, as panic selling in the equity markets prompted investors to sell bullion to cover losses. GOLD: COMEX April gold futures settled
Published 18 Mar, 2011 12:00am
Liffe sugar rises

Liffe sugar rises

Liffe May white sugar rises $17.60 to close at $686.20 a tonne on Thursday on technical buying. Dealers saw downside price risk because more of the crop than expected still awaited harvest in Thailand, and India could soon approve exports.
Published 18 Mar, 2011 12:00am
US soyabeans higher

US soyabeans higher

US soyabean futures ended higher, shrugging off concerns about the crisis in earthquake-ravaged Japan and focusing on soggy weather in key soyabean crop areas of Brazil, traders said. Chicago Board of Trade May soyabeans last traded up 19-1/4 cents at $12
Published 18 Mar, 2011 12:00am
US soft commodity recovers

US soft commodity recovers

Most soft commodity markets staged a recovery on Wednesday but investors remained skittish about the nuclear crisis in Japan, already reeling from a killer quake and tsunami. Workers withdrew briefly from Japan's stricken plant because of surging radiatio
Published 18 Mar, 2011 12:00am
Malaysian palm oil dips

Malaysian palm oil dips

Malaysian palm oil futures dipped more than 1 percent on Thursday, as persistent uncertainty surrounding the economic impact of the devastating Japanese earthquake and tsunami weighed on prices. The benchmark May 2011 crude palm oil contract on Bursa Mala
Published 18 Mar, 2011 12:00am
Oil rises nearly four percent

Oil rises nearly four percent

Oil prices rallied nearly 4 percent on Thursday on fears of further escalation of geopolitical tension in the Middle East and North Africa. Oil prices recovered for a second day from three-week lows, which had been sparked by prospects of lower oil demand
Published 18 Mar, 2011 12:00am
Tokyo rubber futures jump

Tokyo rubber futures jump

Tokyo rubber futures hit a one-week high on Thursday, jumping at one stage by the 30 yen limit as buying by investment funds helped push the price through resistance at 390 yen, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange f
Published 18 Mar, 2011 12:00am
Copper rebounds

Copper rebounds

Copper hit its highest in over a week on Thursday as buyers moved back into the metal after Japan's nuclear crisis drove it to three-month lows this week, with positive US data giving an additional lift to prices. London Metal Exchange three-month copper
Published 18 Mar, 2011 12:00am
US copper moves up

US copper moves up

Copper prices posted their biggest one-day gain in 2-1/2 weeks on Wednesday as investors sought value from Tuesday's three-month low, but gains were fragile due to the uncertain economic impact from Japan's nuclear crisis. May copper on the New York Merca
Published 18 Mar, 2011 12:00am
Shanghai copper down

Shanghai copper down

Copper prices lost 1 percent in Shanghai on Thursday, reversing a 3 percent gain in the previous session, on fears that a worsening nuclear crisis in Japan would hurt the global economy. Shanghai's most-active copper futures contract lost 1 percent at 69,
Published 18 Mar, 2011 12:00am
New York cotton settles higher

New York cotton settles higher

US cotton futures finished up by their daily limit on Thursday as commercial and trade buying lifted the market off the previous session's three-week low. With the weekend coming up, dealers said players would be keeping a wary eye on Japan's nuclear cris
Published 18 Mar, 2011 12:00am
US military computer networks vulnerable

US military computer networks vulnerable

The US military has made huge strides in hardening its computer networks against cyberattack but more remains to be done, the Pentagon's top cyberwarrior said Wednesday. "I would give us today probably a 'C,' going up," General Keith Alexander said when a
Published 18 Mar, 2011 12:00am
Canadian nuclear plant leaked radioactive water

Canadian nuclear plant leaked radioactive water

Thousands of liters of radioactive water have been released into Lake Ontario as a result of an accident at a Canadian nuclear power plant, authorities said Wednesday. "The event was a low level regulatory event with only negligible effect to the environm
Published 18 Mar, 2011 12:00am
Italy celebrates 150th anniversary

Italy celebrates 150th anniversary

Italian President Giorgio Napolitano on Thursday paid homage to Italy's first king Victor Emmanuel II in celebrations marking the 150th anniversary of the country's unification. But a planned boycott by members of regionalist Northern League - the junior
Published 18 Mar, 2011 12:00am
Gaddafi forces push forward as UN action looms

Gaddafi forces push forward as UN action looms

Muammar Gaddafi's troops closed on the rebel stronghold of Benghazi on Thursday, bombing its outskirts as international support grew for air strikes to halt their advance and protect civilians. Gaddafi told Benghazi residents in a radio address they had n
Published 18 Mar, 2011 12:00am
Saudi troops must leave Bahrain: opposition leader

Saudi troops must leave Bahrain: opposition leader

The leader of Bahrain's largest opposition group has urged Saudi Arabia to withdraw its forces and called for a UN inquiry into a crackdown on mainly Shia protesters that has raised tensions in the oil-exporting region. Bahrain arrested seven opposition l
Published 18 Mar, 2011 12:00am
British MPs slam plans to cut foreign students

British MPs slam plans to cut foreign students

British lawmakers on Thursday strongly criticised government plans to reduce the number of international students entering the country, saying the proposals threatened a £40-billion industry. The members of parliament urged ministers to abandon plans to r
Published 18 Mar, 2011 12:00am
Indian government bribed lawmakers to win vote: WikiLeaks

Indian government bribed lawmakers to win vote: WikiLeaks

India's ruling Congress party allegedly bribed lawmakers to survive a crucial 2008 confidence vote in parliament, revelations in a US diplomatic cable published by whistleblower website Wikileaks Thursday said. The leaked US diplomatic cable published by
Published 18 Mar, 2011 12:00am
US drones allowed over Mexico territory

US drones allowed over Mexico territory

US Customs and Border Protection has been surreptitiously flying Predator drones into Mexico for two years, helping Mexican authorities spy on suspected drug traffickers, The Associated Press has learned. The border security agency's surveillance flights,
Published 18 Mar, 2011 12:00am
Thousands in Armenia rally against government

Thousands in Armenia rally against government

Thousands of opposition protesters rallied in the capital of ex-Soviet Armenia on Thursday to demand the government's resignation, an AFP correspondent reported. Opposition leaders said they were hoping to emulate the Arab world uprising, but the ruling p
Published 18 Mar, 2011 12:00am
Hundreds protest Clinton visit in Tunis

Hundreds protest Clinton visit in Tunis

Hundreds of Tunisians, including Islamists, marched through central Tunis Thursday to protest the visit of US Secretary Of State Hillary Clinton but no incidents were reported. It was the third such demonstration in three days against Clinton, who earlier
Published 18 Mar, 2011 12:00am
Japanese engineers aim to restore power to avert catastrophe

Japanese engineers aim to restore power to avert catastrophe

Japanese engineers worked through the night to lay a 1.5 km (one mile) electricity cable to a crippled nuclear power plant in the hope of restarting pumps desperately needed to pour cold water on overheating fuel rods and avert a catastrophe. Officials co
Published 18 Mar, 2011 12:00am
Some nuclear reactors in EU will fail tests: energy chief

Some nuclear reactors in EU will fail tests: energy chief

The "stress tests" European nations will conduct on nuclear reactors will likely expose safety shortcomings in some of them, the EU's energy chief said Thursday, angering nuclear-friendly France. Shocked by Japan's nuclear crisis, European Union states ag
Published 18 Mar, 2011 12:00am
Five killed in small plane crash in California

Five killed in small plane crash in California

Five people heading for a skiing trip died Wednesday when their small plane crashed shortly after takeoff from Long Beach, California, officials said. The twin-engine Beechcraft King Air, owned by local property developer Tom Dean, crashed and burst in fl
Published 18 Mar, 2011 12:00am
Two Yemeni protests attacked, 80 hurt

Two Yemeni protests attacked, 80 hurt

Security forces and government loyalists struck protest camps across Yemen on Thursday, hurling rocks, beating protesters with sticks and firing rubber and live bullets, hoping to break the will of thousands camped in squares for over a month, demanding t
Published 18 Mar, 2011 12:00am
England keep hopes alive

England keep hopes alive

England kept their World Cup quarter-final hopes alive with an 18-run win over the West Indies on Thursday. West Indies, chasing 244 for victory, were 222 for six after a stand of 72 between Ramnaresh Sarwan (31) and all-rounder Andre Russell (49) rescued
Published 18 Mar, 2011 12:00am
England keep hopes alive

England keep hopes alive

England kept their World Cup quarter-final hopes alive with an 18-run win over the West Indies on Thursday. West Indies, chasing 244 for victory, were 222 for six after a stand of 72 between Ramnaresh Sarwan (31) and all-rounder Andre Russell (49) rescued
Published 18 Mar, 2011 12:00am
Pitches in India are more balanced, says Sangakkara

Pitches in India are more balanced, says Sangakkara

Pitches in India are more balanced than Sri Lanka and do not provide undue advantage to the side batting first in the World Cup, said Sri Lankan captain Kumar Sangakkara. The islanders will play their final Group A match against New Zealand at Mumbai's Wa
Published 18 Mar, 2011 12:00am
Big teams now respect Ireland, says coach

Big teams now respect Ireland, says coach

Ireland have earned respect with their plucky performances at the World Cup despite failing to qualify for the quarter-finals, coach Phil Simmons said on Thursday. "We need to play more games against big guys because they all have respect for us now," Sim
Published 18 Mar, 2011 12:00am
Right time to retire, says Shoaib Akhtar

Right time to retire, says Shoaib Akhtar

Pakistan pace bowler Shoaib Akhtar will retire from international cricket after the World Cup, closing one of the most colourful careers in the sport. Shoaib, nicknamed the Rawalpindi Express for his ability to bowl at high pace, has been one of the most
Published 18 Mar, 2011 12:00am
Real crush Lyon to end six-year jinx

Real crush Lyon to end six-year jinx

Jose Mourinho broke Real Madrid's six-year Champions League jinx when his side crushed Olympique Lyon 3-0 on Wednesday to advance to the quarter-finals for the first time since 2004. Marcelo, Karim Benzema and Angel Di Maria scored the goals at a packed a
Published 18 Mar, 2011 12:00am
Capital police nab 12 suspects

Capital police nab 12 suspects

Islamabad Police have arrested 12 outlaws and four suspects from various parts of the federal capital and seized illegal arms. Police have recovered two rifles (12-bore), four pistols (30-bore), 145 gram heroin, 600 gram charas, six bottles of liquor from
Published 18 Mar, 2011 12:00am
Telenor celebrates sixth anniversary

Telenor celebrates sixth anniversary

Telenor Pakistan celebrates its 6th anniversary on Tuesday by reiterating its commitment to bringing the benefits of telecommunications to people's everyday lives. Since its launch, the company has shown consistent high growth by performing above industry
Published 18 Mar, 2011 12:00am
Eight robbers loot huge amount of money from bank

Eight robbers loot huge amount of money from bank

At least eight unidentified armed robbers on Thursday looted huge amount of foreign currency and over a half million rupees from a private bank in the limits of Mehmoodabad police station. According to police sources, at around 9:30am, some eight armed ro
Published 18 Mar, 2011 12:00am
Watan Cards: Nadra resolves 205,923 complaints through CRS

Watan Cards: Nadra resolves 205,923 complaints through CRS

National Database and Registration Authority (NADRA) has succeeded in resolving 205,923 complaints pertaining to Watan Cards in effective and transparent manner by using Complaints Redressal System, said Tariq Malik, Deputy Chairman NADRA here on Thursday
Published 18 Mar, 2011 12:00am
SBCA seals and demolishes illegal constructions

SBCA seals and demolishes illegal constructions

More than 15 buildings were sealed or demolished in an operation undertaken by the Sindh Building Control Authority (SBCA) in different parts of the city on Thursday. According to a press release, the illegally constructed shattering on buildings were raz
Published 18 Mar, 2011 12:00am
Body found in Quetta

Body found in Quetta

Police have found a body dumped along the Spini Road, in the precincts of Sadar police station, on Thursday. Police sources told that on being informed, police transported a body to the Bolan Medical Complex hospital. The body was later identified as that
Published 18 Mar, 2011 12:00am
Swiss central bank holds rate

Swiss central bank holds rate

The Swiss central bank kept its key interest rate unchanged at a record low on Thursday, but hinted of rate raises in coming quarters as inflation is expected to grow in 2012 and 2013. The central bank raised its growth forecast to 2 percent from 1.5 perc
Published 18 Mar, 2011 12:00am
Australian and New Zealand dollars slip

Australian and New Zealand dollars slip

The Australian and New Zealand dollars slipped to multi-month lows against a surging yen early on Thursday on a cascade of stop-losses and option-related selling, before the risk of intervention helped recoup some losses. The Aussie was last at 77.83 yen,
Published 18 Mar, 2011 12:00am
Yuan ends down

Yuan ends down

The yuan closed slightly lower against the dollar on Thursday after the People's Bank of China fixed a slightly stronger mid-point, but fell short of letting its fixing hit a new high. The PBOC appeared cautious, to not be too aggressive in letting the yu
Published 18 Mar, 2011 12:00am
Central banks check falls in Asian currencies

Central banks check falls in Asian currencies

Foreign exchange authorities in parts of Asia checked falls in their currencies, which investors dumped on risk aversion amid growing fears over radiation leaks in Japan. Seoul's authorities were spotted selling dollars as the won hit a fresh 2-1/2-month
Published 18 Mar, 2011 12:00am
Indian rupee off lows

Indian rupee off lows

The Indian rupee ended weaker on Thursday, but recouped from intra-day lows on losses in the dollar overseas and on hopes the central bank would nudge key rates up again, luring foreign funds into the country. The partially convertible rupee ended at 45.1
Published 18 Mar, 2011 12:00am
Swiss franc hits fresh all-time high

Swiss franc hits fresh all-time high

The Swiss franc surged to a fresh all-time high against the dollar on Thursday ahead of the Swiss National Bank's interest rate decision as investors worried about the Japan crisis sought the safe-haven currency. After surging to a fresh all-time high, th
Published 18 Mar, 2011 12:00am
Yen surges to record high versus dollar

Yen surges to record high versus dollar

The yen soared to a record high against the dollar on Wednesday as concerns escalated over a nuclear crisis in Japan, and investors nervously watched to see if Japanese authorities will step in to stem the currency's rise. The dollar fell more than 4 perc
Published 18 Mar, 2011 12:00am
Early trade in New York: Yen retreats from record high

Early trade in New York: Yen retreats from record high

Fear that Japan may soon intervene to weaken the yen after it hit a record high against the dollar left currency traders skittish on Thursday, and the market may start trimming yen longs as a G7 meeting nears. The dollar hit a record low of 76.25 yen as A
Published 18 Mar, 2011 12:00am
Yen hovers near record high in London

Yen hovers near record high in London

The yen hovered near a record high against a broadly weak dollar on Thursday, keeping alive the risk of official intervention to stem the Japanese currency's sharp rise. The dollar slumped to 76.25 yen in early overnight trade as the nuclear crisis in Jap
Published 18 Mar, 2011 12:00am
Yean powers to all-time high

Yean powers to all-time high

The yen soared to a record high of 76.25 against the dollar on Thursday, reaching levels that may force more market players to unwind positions and test the resolve of Japanese authorities threatening intervention to stem currency strength. A break throug
Published 18 Mar, 2011 12:00am
Sterling near four-month lows versus euro

Sterling near four-month lows versus euro

Sterling traded near a four-month low against the euro on Thursday, with the single currency supported by a solid Spanish bond auction, but it gained against a broadly weaker US dollar. The pound rose to as high as $1.6171, taking a cue from the euro's ri
Published 18 Mar, 2011 12:00am
Yen Libor steadies

Yen Libor steadies

Uncertainty over whether the ECB will be able to follow through on a rate hike signalled for April in the wake of the Japanese crisis has led some traders to position for a less aggressive tightening. European Central Bank President Jean-Claude Trichet in
Published 18 Mar, 2011 12:00am
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