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Archive - 2011-04-10
Three killed by unknown gunmen
Top News

Three killed by unknown gunmen

KARACHI: At least three persons were shot dead by unidentified gunmen on Shahra-e-Faisal on Tuesday. A police officer at
Published 10 Apr, 2011 04:02pm
IHC bill 2011 introduced in NA
Top News

IHC bill 2011 introduced in NA

ISLAMABAD: The Islamabad High Court Amendment Bill 2011 has been introduced in the National Assembly on Monday while the
Published 10 Apr, 2011 12:09pm
Gas pipeline blown up in Dera Bugti
Top News

Gas pipeline blown up in Dera Bugti

DERA MURAD JAMALI: Unknown men blew up natural gas supply pipeline in Loti area of Dera Bugti district on Sunday. "Unid
Published 10 Apr, 2011 11:27am
Three killed in Karachi firing
Top News

Three killed in Karachi firing

KARACHI: Police said that unidentified armed men riding on a bike opened indiscriminate fire on a car at Shaheed-e-Mill
Published 10 Apr, 2011 07:40am
China's March trade surplus at $140mn
Top News

China's March trade surplus at $140mn

SHANGHAI: China said Sunday it had returned a trade surplus in March after the world's number two economy posted its fir
Published 10 Apr, 2011 05:09am
Etisalat expected to release $800 million by June end

Etisalat expected to release $800 million by June end

The government has received positive indication that $800 million, pending from sale proceeds in Pakistan Telecommunication Company (PTCL), would be released by the end of the current fiscal year, which may provide a cushion to the declining foreign inves
Published 10 Apr, 2011 12:00am
Etisalat expected to release $800 million by June end

Etisalat expected to release $800 million by June end

The government has received positive indication that $800 million, pending from sale proceeds in Pakistan Telecommunication Company (PTCL), would be released by the end of the current fiscal year, which may provide a cushion to the declining foreign inves
Published 10 Apr, 2011 12:00am
Tens of thousands protest against European austerity

Tens of thousands protest against European austerity

European and local trade unions held a massive demonstration in Budapest Saturday to protest against austerity measures, which European finance ministers said were unavoidable. Organisers estimated the turnout at around 40,000 people, who marched along th
Published 10 Apr, 2011 12:00am
Tens of thousands protest against European austerity

Tens of thousands protest against European austerity

European and local trade unions held a massive demonstration in Budapest Saturday to protest against austerity measures, which European finance ministers said were unavoidable. Organisers estimated the turnout at around 40,000 people, who marched along th
Published 10 Apr, 2011 12:00am
Tens of thousands protest against European austerity

Tens of thousands protest against European austerity

European and local trade unions held a massive demonstration in Budapest Saturday to protest against austerity measures, which European finance ministers said were unavoidable. Organisers estimated the turnout at around 40,000 people, who marched along th
Published 10 Apr, 2011 12:00am
HEC devolution: hearing on April 11

HEC devolution: hearing on April 11

A petition filed against devolution of Higher Education Commission (HEC) - the premier institution to regulate higher education the country and instrumental in promoting research-oriented and need-based education - in Supreme Court Saturday, was fixed for
Published 10 Apr, 2011 12:00am
HEC devolution: hearing on April 11

HEC devolution: hearing on April 11

A petition filed against devolution of Higher Education Commission (HEC) - the premier institution to regulate higher education the country and instrumental in promoting research-oriented and need-based education - in Supreme Court Saturday, was fixed for
Published 10 Apr, 2011 12:00am
Moderate quake hits southwest Japan

Moderate quake hits southwest Japan

A moderate earthquake hit off southwest Japan late Saturday but there no immediate reports of casualties or damage, seismologists said. The tremor hit off south-western Tanegashima island 1,000 kilometres (620 miles) south-west of Tokyo at 9:58 pm (1258 G
Published 10 Apr, 2011 12:00am
Moderate quake hits southwest Japan

Moderate quake hits southwest Japan

A moderate earthquake hit off southwest Japan late Saturday but there no immediate reports of casualties or damage, seismologists said. The tremor hit off south-western Tanegashima island 1,000 kilometres (620 miles) south-west of Tokyo at 9:58 pm (1258 G
Published 10 Apr, 2011 12:00am
Government has political will to face challenges: Zardari

Government has political will to face challenges: Zardari

President Asif Ali Zardari on Saturday said that the government has the political will and determination to lead the country to face challenges and embark upon the path of development, progress and prosperity. Speaking to the participants of 94 National M
Published 10 Apr, 2011 12:00am
Devolution of HEC: Rabbani seeks to dispel apprehensions

Devolution of HEC: Rabbani seeks to dispel apprehensions

Federal Minister for Inter-provincial Co-ordination Mian Raza Rabbani said on Saturday that some anti-devolution and vested interests were unnecessarily creating uncertainty about the devolution process under the 18th Amendment and called it pre-emptive p
Published 10 Apr, 2011 12:00am
Reference in Supreme Court: PPP has chosen legal path, says Babar

Reference in Supreme Court: PPP has chosen legal path, says Babar

Federal Minister for Law, Justice and Parliamentary Affair Dr Babar Awan has ruled out any connection of reopening of ZAB case reference with politics. The PPP wanted to remove the stigma on the judiciary, he said while talking to media at the residence o
Published 10 Apr, 2011 12:00am
Government focus on economic empowerment of women: Firdous

Government focus on economic empowerment of women: Firdous

Federal Minister for Information and Broadcasting Dr Firdous Ashiq Awan has said that the government was striving hard to accomplish Shaheed Benazir Bhutto's mission aimed at bringing women folk into mainstream, so they could play their due role in nation
Published 10 Apr, 2011 12:00am
National Assembly speaker issues Kazmi's production order

National Assembly speaker issues Kazmi's production order

Speaker of the National Assembly Dr Fehmida Mirza on Saturday issued production order of former Federal Minister for Religious Affairs, Hamid Saeed Kazmi for the NA session starting from April 12. Sources in the National Assembly told APP that a copy of t
Published 10 Apr, 2011 12:00am
Acid Control and Acid Crime Prevention Bill, 2010 approved

Acid Control and Acid Crime Prevention Bill, 2010 approved

National Assembly Standing Committee on Women Development on Saturday unanimously approved "The Acid Control and Acid Crime Prevention Bill, 2010" The standing committee passed the bill in a meeting held with Bushra Gohar in chair at the Parliament House.
Published 10 Apr, 2011 12:00am
Acid Control and Acid Crime Prevention Bill, 2010 approved

Acid Control and Acid Crime Prevention Bill, 2010 approved

National Assembly Standing Committee on Women Development on Saturday unanimously approved "The Acid Control and Acid Crime Prevention Bill, 2010" The standing committee passed the bill in a meeting held with Bushra Gohar in chair at the Parliament House.
Published 10 Apr, 2011 12:00am
Acid Control and Acid Crime Prevention Bill, 2010 approved

Acid Control and Acid Crime Prevention Bill, 2010 approved

National Assembly Standing Committee on Women Development on Saturday unanimously approved "The Acid Control and Acid Crime Prevention Bill, 2010" The standing committee passed the bill in a meeting held with Bushra Gohar in chair at the Parliament House.
Published 10 Apr, 2011 12:00am
Court urges speedy Musharraf arrest

Court urges speedy Musharraf arrest

A court asked the government Saturday to speed up the arrest of former president Pervez Musharraf amid uncertainty over whether Britain would honour a warrant for his arrest. Musharraf, who lives in self-imposed exile in London, is wanted over the 2007 mu
Published 10 Apr, 2011 12:00am
Court urges speedy Musharraf arrest

Court urges speedy Musharraf arrest

A court asked the government Saturday to speed up the arrest of former president Pervez Musharraf amid uncertainty over whether Britain would honour a warrant for his arrest. Musharraf, who lives in self-imposed exile in London, is wanted over the 2007 mu
Published 10 Apr, 2011 12:00am
Saudi Arabia ready to supply Asia with more oil

Saudi Arabia ready to supply Asia with more oil

Top oil exporter Saudi Arabia is ready to supply Asia with more oil thanks to unmatched spare output capacity that allows it to counter any rise in demand or drop in supplies, Oil Minister Ali al-Naimi said in remarks carried by the state news agency on S
Published 10 Apr, 2011 12:00am
Saudi Arabia ready to supply Asia with more oil

Saudi Arabia ready to supply Asia with more oil

Top oil exporter Saudi Arabia is ready to supply Asia with more oil thanks to unmatched spare output capacity that allows it to counter any rise in demand or drop in supplies, Oil Minister Ali al-Naimi said in remarks carried by the state news agency on S
Published 10 Apr, 2011 12:00am
Saudi Arabia ready to supply Asia with more oil

Saudi Arabia ready to supply Asia with more oil

Top oil exporter Saudi Arabia is ready to supply Asia with more oil thanks to unmatched spare output capacity that allows it to counter any rise in demand or drop in supplies, Oil Minister Ali al-Naimi said in remarks carried by the state news agency on S
Published 10 Apr, 2011 12:00am
Al Qaeda not on rise in Afghanistan: Petraeus

Al Qaeda not on rise in Afghanistan: Petraeus

The top commander of US and Nato forces said Saturday that while some al Qaeda fighters have been searching for hide-outs in rugged areas of eastern Afghanistan, he does not think they are making a comeback inside the country. "There is no question that a
Published 10 Apr, 2011 12:00am
Al Qaeda not on rise in Afghanistan: Petraeus

Al Qaeda not on rise in Afghanistan: Petraeus

The top commander of US and Nato forces said Saturday that while some al Qaeda fighters have been searching for hide-outs in rugged areas of eastern Afghanistan, he does not think they are making a comeback inside the country. "There is no question that a
Published 10 Apr, 2011 12:00am
Six killed in Dutch shopping centre shooting spree

Six killed in Dutch shopping centre shooting spree

A gunman shot dead five people in a jam packed mall in the western Netherlands on Saturday and wounded at least 11 others before shooting himself, a local official said. "There are at present six dead, including the person responsible," Bas Eenhoorn, the
Published 10 Apr, 2011 12:00am
Six killed in Dutch shopping centre shooting spree

Six killed in Dutch shopping centre shooting spree

A gunman shot dead five people in a jam packed mall in the western Netherlands on Saturday and wounded at least 11 others before shooting himself, a local official said. "There are at present six dead, including the person responsible," Bas Eenhoorn, the
Published 10 Apr, 2011 12:00am
Pharmaceutical companies raise prices arbitrarily

Pharmaceutical companies raise prices arbitrarily

Pharmaceutical companies have significantly raised the prices of most of the medicines during last one month, a survey carried out by Business Recorder showed. Traders in different markets of the twin cities of Rawalpindi and Islamabad said that wi
Published 10 Apr, 2011 12:00am
Pharmaceutical companies raise prices arbitrarily

Pharmaceutical companies raise prices arbitrarily

Pharmaceutical companies have significantly raised the prices of most of the medicines during last one month, a survey carried out by Business Recorder showed. Traders in different markets of the twin cities of Rawalpindi and Islamabad said that wi
Published 10 Apr, 2011 12:00am
Pharmaceutical companies raise prices arbitrarily

Pharmaceutical companies raise prices arbitrarily

Pharmaceutical companies have significantly raised the prices of most of the medicines during last one month, a survey carried out by Business Recorder showed. Traders in different markets of the twin cities of Rawalpindi and Islamabad said that wi
Published 10 Apr, 2011 12:00am
12 killed in Gaza's deadliest 24 hours since 2008-9 war

12 killed in Gaza's deadliest 24 hours since 2008-9 war

An Israeli tank round killed a Palestinian in the Gaza Strip early on Saturday, bringing to 12 the overall toll from the deadliest 24 hours of violence since a devastating war more than two years ago. A truce declared by Palestinian armed groups in the en
Published 10 Apr, 2011 12:00am
12 killed in Gaza's deadliest 24 hours since 2008-9 war

12 killed in Gaza's deadliest 24 hours since 2008-9 war

An Israeli tank round killed a Palestinian in the Gaza Strip early on Saturday, bringing to 12 the overall toll from the deadliest 24 hours of violence since a devastating war more than two years ago. A truce declared by Palestinian armed groups in the en
Published 10 Apr, 2011 12:00am
Complete shutdown in IHK against Maulana Showkat's killing

Complete shutdown in IHK against Maulana Showkat's killing

In Indian Occupied Kashmir complete shutdown was observed on Saturday, against the killing of a leading Kashmiri religious scholar and the President of Jamiat-e-Ahl-e-Hadith, Maulana Showkat Ahmad Shah. He was martyred in a blast outside a mosque at Maisu
Published 10 Apr, 2011 12:00am
Complete shutdown in IHK against Maulana Showkat's killing

Complete shutdown in IHK against Maulana Showkat's killing

In Indian Occupied Kashmir complete shutdown was observed on Saturday, against the killing of a leading Kashmiri religious scholar and the President of Jamiat-e-Ahl-e-Hadith, Maulana Showkat Ahmad Shah. He was martyred in a blast outside a mosque at Maisu
Published 10 Apr, 2011 12:00am
French police arrest protesters before burqa ban

French police arrest protesters before burqa ban

French police arrested 59 people on Saturday who turned up for a banned protest over the banning of the Muslim full face veil, a police spokesman said. The measure goes into force on Monday and prohibits wearing the full veil, the burqa, in all public pla
Published 10 Apr, 2011 12:00am
French police arrest protesters before burqa ban

French police arrest protesters before burqa ban

French police arrested 59 people on Saturday who turned up for a banned protest over the banning of the Muslim full face veil, a police spokesman said. The measure goes into force on Monday and prohibits wearing the full veil, the burqa, in all public pla
Published 10 Apr, 2011 12:00am
DG BISP Sindh removed from service

DG BISP Sindh removed from service

While taking stern action against the alleged misconduct, fake signatures, unethical behaviour, especially, harassing female colleagues and other similar sort of complaints, the management of Benazir Income Support Programme (BISP) has removed the service
Published 10 Apr, 2011 12:00am
CEO PBIT calls on Bosnian foreign trade minister

CEO PBIT calls on Bosnian foreign trade minister

Chief Executive Officer, Punjab Board of Investment & Trade, Saadat Muzaffar, who is in Bosnia Herzegovina to attend the 2nd Sarajevo Investment Forum, called on Minister for Foreign Trade and Economic Relations of Bosnia Herzegovina Mladen Zirojevic.
Published 10 Apr, 2011 12:00am
Hajj policy-2011 to be presented before cabinet

Hajj policy-2011 to be presented before cabinet

The Ministry of Religious Affairs is all set to present the draft of Hajj policy-2011 before the Federal Cabinet for final approval, as it has already been discussed in the Senate and National Assembly Standing Committees on Religious Affairs.
Published 10 Apr, 2011 12:00am
Women should be facilitated to join management, business mainstream

Women should be facilitated to join management, business mainstream

To bring economic stability in the country, women should be mainstreamed in management and business activities through skill development and training programmes. With this vision, Islamabad Women Chamber of Commerce and Industry (IWCCI) organised two day
Published 10 Apr, 2011 12:00am
25 huts reduced to ashes

25 huts reduced to ashes

At least 25 huts were turned into ashes in a fire that broke out at the Shanty Town located at Korangi no 2 1/2 on Saturday. The fire that mysteriously broke out on the wee hours of Saturday engulfed some 75 huts and turned 25 of them to ashes. No casualt
Published 10 Apr, 2011 12:00am
Gilani, Altaf discuss national issues

Gilani, Altaf discuss national issues

Prime Minister Syed Yousaf Raza Gilani and MQM leader Altaf Hussain on Saturday held discussion on national issues and reiterated their support for the consolidation and strengthening of democracy. The Prime Minister, who is in a private visit to London i
Published 10 Apr, 2011 12:00am
Three killed in separate incidents

Three killed in separate incidents

At least three persons were killed in separate incidents at various parts of the metropolis here on Saturday. According to details, a young man was shot dead while other was injured near Nadria Hotel Nazimabad within the limits of Rizvia police station.
Published 10 Apr, 2011 12:00am
MQM meeting: venue changed

MQM meeting: venue changed

The venue for the public meeting organised by Muttahida Qaumi Movement (MQM) has been changed and now the meeting will be held at Football Ground, on Sunday. Qadhafi Stadium was first selected as the venue by MQM for the meeting. The Punjab government has
Published 10 Apr, 2011 12:00am
MQM makes inroads into tribal areas

MQM makes inroads into tribal areas

The Muttahida Qaumi Movement (MQM), once referred to as 'Karachi centric party', has begun to have a presence in far-flung areas of Federally Administered Tribal Areas (Fata), especially the Kurram Agency, where the party's chief Altaf Hussain is likely t
Published 10 Apr, 2011 12:00am
Education a provincial subject, insists Qaim

Education a provincial subject, insists Qaim

Sindh Chief Minister Syed Qaim Ali Shah on Saturday said that not only 18th Amendment, Federal List No 1 and Concurrent List, had also declared education a provincial subject and the authority, powers and autonomy of universities are under provincial gove
Published 10 Apr, 2011 12:00am
Conversion of amenity plots: activists oppose proposal to empower MPAs

Conversion of amenity plots: activists oppose proposal to empower MPAs

Sindh provincial assembly's proposed legislation seeking to empower the legislators to convert the amenity plots has been widely criticised by people from all shades and opinions. Participants at a session arranged by Pakistan Civic Society (PCS) here las
Published 10 Apr, 2011 12:00am
Setting up of crime monitoring board under consideration: IGP

Setting up of crime monitoring board under consideration: IGP

Inspector General Police Sindh, Fayyaz Leghari on Saturday said that setting up of a crime monitoring board was under consideration. Addressing members of Korangi Association of Trade and Industry (Kati), Leghari said after the Chief Minister's approval,
Published 10 Apr, 2011 12:00am
Rufi Homes' residents without power for four days

Rufi Homes' residents without power for four days

Residents of Rufi Homes including some of Haroon Bungalows of Scheme 33, Sector 38-A were spending day and night without electricity for the last four days. According to details, the PMT of Rufi Homes and Safora Goth blasted on Wednesday evening. The resi
Published 10 Apr, 2011 12:00am
KESC reverts to previous duration of load-shedding

KESC reverts to previous duration of load-shedding

On the intervention of Sindh Governor, Dr Ishrat-ul- Ebad Khan, and Chief Minister, Syed Qaim Ali Shah, the Karachi Electric Supply Company (KESC) has "reverted to the previous level of load shedding rather than the announced duration of up to 14 hours."
Published 10 Apr, 2011 12:00am
Grenade attack at Municipal office leaves two injured

Grenade attack at Municipal office leaves two injured

At least two persons were injured when two unidentified persons on a motorcycle hurled a grenade at the Municipal Office, Chakiwara in Lyari town on Saturday morning. According to details, two unknown pillion riders threw hand grenade at Lyari Town office
Published 10 Apr, 2011 12:00am
Malik assures Zulqarnain of security in Pakistan

Malik assures Zulqarnain of security in Pakistan

Federal Interior Minister Rehman Malik on Saturday assured former Pakistan wicket-keeper Zulqarnain Haider that he along with his family would be given complete security should the cricketer decide to return to Pakistan from his self-imposed exile in the
Published 10 Apr, 2011 12:00am
Shah Ruknuddin Urs starts amid tight security

Shah Ruknuddin Urs starts amid tight security

The district administration in Multan has made elaborate security arrangements in connection with the annual three-day Urs celebrations of Shah Ruknuddin Alam, started on Saturday. The district administration have deployed around 2,200 security personnel
Published 10 Apr, 2011 12:00am
'Wheat Procurement Policy 2011' approved

'Wheat Procurement Policy 2011' approved

Punjab Cabinet on Saturday approved Wheat Procurement Policy 2011, under which a target of four million metric tons has been set for the year wherein procurement will start from April 20. Parks and Horticulture Authority Act 2010, Punjab Semen Quality Con
Published 10 Apr, 2011 12:00am
Exhibitions a must to put economy on track: Dar

Exhibitions a must to put economy on track: Dar

Former Federal Finance Minister, Ishaq Dar has said fairs and exhibitions are a must to put economy on track as the exhibitions are tools to identify the untapped potential of key sectors of the economy and to introduce Pakistani merchandise in internatio
Published 10 Apr, 2011 12:00am
4000 non-core employees: KESC submits 'Severance Scheme' to SHC

4000 non-core employees: KESC submits 'Severance Scheme' to SHC

The Karachi Electric Supply Company has reaffirmed its spirit of turning around the utility into a more operationally efficient and customer-friendly organisation. One of the key steps taken in this direction is the designing of a severance scheme for its
Published 10 Apr, 2011 12:00am
Gas load-shedding: textile industry becomes easy prey for SNGPL

Gas load-shedding: textile industry becomes easy prey for SNGPL

The textile industry has turned into an easy prey for Sui Northern Gas Pipeline Limited (SNGPL), cutting its supply as and when there is a gas shortage in the country. Textile industry circles said the industry faced gas supply cut for 125 days last year
Published 10 Apr, 2011 12:00am
Nawaz to return home next week

Nawaz to return home next week

Pakistan Muslim League-Nawaz (PML-N) Quaid, Mohammad Nawaz Sharif has recovered from his heart problem and is returning home in the mid of April. This was stated by Amir Khan, media advisor to Hassan Nawaz, son of PML-N Quaid Nawaz Sharif while talking to
Published 10 Apr, 2011 12:00am
Need stressed to improve tax to GDP ratio

Need stressed to improve tax to GDP ratio

India is getting 17 percent of Gross Domestic Product (GDP) in the shape of taxes, while Pakistan is gaining only 10 percent of the GDP as tax. It is prerequisite to enhance the tax net to face the economic challenges, said former senator and ambassador,
Published 10 Apr, 2011 12:00am
Iesco power shut down notice

Iesco power shut down notice

According to Iesco spokesman, due to electricity maintenance/development work the power supply of the areas fall under the following feeders would remain suspended as under:-
Published 10 Apr, 2011 12:00am
Badar to attend MQM's Convention today

Badar to attend MQM's Convention today

Secretary General, Pakistan People's Party (PPP), Jehangir Badar has accepted MQM's invitation to attend convention in Lahore on Sunday (today). The MQM delegation, led by Dr Farooq Sattar, called on him at his residence and invited him to the public meet
Published 10 Apr, 2011 12:00am
PTI won't participate in MQM public meeting

PTI won't participate in MQM public meeting

Pakistan Tahreek-e-Insaf (PTI) has on Saturday decided against participating in the public meeting of Muttahida Quami Movement (MQM) to be held on April 10 (Sunday). According to a PTI's spokesperson, the decision was taken in the party's central executiv
Published 10 Apr, 2011 12:00am
Schoolteacher booked for taking bribe

Schoolteacher booked for taking bribe

Anti-Corruption Establishment Punjab has registered a case against a schoolteacher for taking bribe from the sanitary workers of Tehsil Municipal Administration (TMA) Gujjar Khan. Muhammad Irshad, schoolteacher of Government Middle School Jhand Nagar, Guj
Published 10 Apr, 2011 12:00am
New spell of rains start in parts of country

New spell of rains start in parts of country

The Met Office has forecast on Saturday that a fresh spell of rains will start in several parts of the country during the next 24 hours. According to a private news channel, a thunder storm was followed by rains in Peshawar on Saturday early morning. The
Published 10 Apr, 2011 12:00am
LDA approves project worth Rs 151.23 million

LDA approves project worth Rs 151.23 million

The Lahore Development Authority (LDA) has approved a project worth Rs 151.226 million for construction of storm water drains as well as provision of gully gratings at the 21 drainage deficient locations of city roads with a view to facilitate smooth flow
Published 10 Apr, 2011 12:00am
NAB efforts to get Chamba House vacated hailed

NAB efforts to get Chamba House vacated hailed

Senate's Standing Committee on Housing and Works that met here on Saturday, appreciated the efforts by Director General National Accountability Bureau (NAB) Punjab for getting vacated Chamba House and giving back its possession to Pak PWD. Senator Abdul N
Published 10 Apr, 2011 12:00am
'New industrial policy to be introduced'

'New industrial policy to be introduced'

Federal Secretary Industry & Production, Abdul Ghaffar Somroo has said we will introduce an industrial policy in the light of recommendations, proposals of Chambers of Commerce & Industries and other stakeholders to increase industrial production and meet
Published 10 Apr, 2011 12:00am
Z A Bhutto's case: Presidential reference to remove stain on judiciary

Z A Bhutto's case: Presidential reference to remove stain on judiciary

Presidential reference to revisit Zulfiqar Ali Bhutto case will help judiciary to remove ugly stain on its face. People's Lawyers Forum-Punjab said this in a statement issued here Saturday. PLF-Punjab senior vice president Malik Nasir Awan and additional
Published 10 Apr, 2011 12:00am
Dissolution of HEC: petition filed before LHC

Dissolution of HEC: petition filed before LHC

A petition against dissolution of Higher Education Commission (HEC) of Pakistan has been filed before the Lahore High Court. The petitioner, Advocate Fahad Ahmed Siddiqi, submitted that the mission of the HEC is to facilitate institutions of higher educat
Published 10 Apr, 2011 12:00am
Khawaja Asif mother's death condoled

Khawaja Asif mother's death condoled

Punjab Chief Minister, Muhammad Shahbaz Sharif went to the residence of leader of Pakistan Muslim League-Nawaz and Member National Assembly, Khawaja Muhammad Asif in Sialkot Saturday and condoled death of his mother. The chief minister offered Fateha for
Published 10 Apr, 2011 12:00am
Six DBs, 12 single benches constituted

Six DBs, 12 single benches constituted

Lahore High Court Chief Justice, Ijaz Ahmad Chaudhry here Saturday constituted six division benches (DBs) and 12 single benches (SBs) for the disposal of cases pending at the principal seat for the week commencing from April 11. The DBs are headed by Chie
Published 10 Apr, 2011 12:00am
Mild tremor jolts Ziarat

Mild tremor jolts Ziarat

A mild tremor measuring 2.2 on Richter scale struck Ziarat district of Balochistan on Saturday, however it caused no loss. An official of the meteorological department told that a mild tremor jolted the Ziarat at 11:33am, causing panic among the dwellers
Published 10 Apr, 2011 12:00am
Nadra shifts Keamari office to KPT

Nadra shifts Keamari office to KPT

"National Database and Registration Authority (Nadra) is shifting its Keamari office to Karachi Port Trust (KPT), as people urged Nadra to shift the office due to poor law and order situation prevailing in the area." This was stated by Nadra General Manag
Published 10 Apr, 2011 12:00am
Water in Tarbela dam close to dead level

Water in Tarbela dam close to dead level

The water level in Tarbela dam dropped almost to dead level of 1378 feet on Saturday, only about 0.88 feet high. According to data released by Indus River System Authority (Irsa) here, the maximum water level in River Indus at Tarbela was 1378.88 feet whi
Published 10 Apr, 2011 12:00am
SECP amends format of Statement in Lieu of Prospectus

SECP amends format of Statement in Lieu of Prospectus

The Securities and Exchange Commission of Pakistan (SECP) has amended the Statement in Lieu of Prospectus format required to be filed by unlisted public companies to obtain the commencement of business certificate. According to a press release issued here
Published 10 Apr, 2011 12:00am
Projects worth Rs 70 billion underway in Khyber Pakhtunkhwa

Projects worth Rs 70 billion underway in Khyber Pakhtunkhwa

Federal Minister for Communications, Dr Arbab Alamgir Khan Khalil has said development projects worth Rs 70 billion were in progress in Khyber Pakhtunkhwa under the Ministry of Communications. He expressed these views during a press conference at the site
Published 10 Apr, 2011 12:00am
Clariant helps rebuild houses in flood-hit village

Clariant helps rebuild houses in flood-hit village

Nine families of Chakar Khan Village in Jamshoro whose houses were destroyed by the floods last year had smiles on their faces, as they became the owners of nine brand new houses constructed for them through the efforts of the staff and management of Clar
Published 10 Apr, 2011 12:00am
Smeda to introduce quail farming in Khyber Pakhtunkhwa

Smeda to introduce quail farming in Khyber Pakhtunkhwa

Small and Medium Enterprises Development Authority (Smeda) Khyber Pakhtunkhwa is going to initiate a programme for quail farming for the development of rural economy in D I Khan, Abbottabad and central districts of Peshawar, Mardan, Nowshera, Charsadda an
Published 10 Apr, 2011 12:00am
Pound, euro, dirham export: ECAP team thanks SBP governor

Pound, euro, dirham export: ECAP team thanks SBP governor

Exchange Companies Association of Pakistan (ECAP) Chairman Muhammad Bostan and President Haji Haroon, along with an eight-member delegation, held a meeting with State Bank of Pakistan (SBP) Governor Shahid Hafiz Kardar on Friday. The delegation members th
Published 10 Apr, 2011 12:00am
President SCA condemns imposition of tax on agriculture inputs

President SCA condemns imposition of tax on agriculture inputs

Dr Syed Nadeem Qamar, President Sindh Chamber of Agriculture, while presiding the SCA meeting held on 8/4/2011 condemned the imposition of tax on agricultural produce, directly or indirectly which he described as an attempt of those who don't want progres
Published 10 Apr, 2011 12:00am
Huge quantity of liquor seized

Huge quantity of liquor seized

Customs authorities have seized over 14,000 bottles of foreign liquor after a raid on a boat here on Friday night. A wooden launch from port of Fujairah (UAE) making a bid to enter our territory was seized, said Muhammed Javed Ghani, Collector Customs, wh
Published 10 Apr, 2011 12:00am
'Non-machine readable passports to remain valid till expiry date'

'Non-machine readable passports to remain valid till expiry date'

Old passports that are non-machine readable would remain valid till their expiry date, Wajid Ali Bokhari, Director General of Immigration and Passports DGIP) said, here on Saturday. The pilot project for issuing Machine Readable Passports (MRPs) began in
Published 10 Apr, 2011 12:00am
Capital police fail to curb street crimes

Capital police fail to curb street crimes

Islamabad Police have failed in taking appropriate measures to curb street crimes as more than 125 incidents of theft including highway robbery, purse and vehicle snatching were reported during the week in the capital.
Published 10 Apr, 2011 12:00am
Ailing comedian Mastana seeks financial support

Ailing comedian Mastana seeks financial support

The family of ailing stage drama actor and comedian, Mastana on Saturday sought financial assistance and support to get his expensive medical treatment. Murtaza Hassan alias Mastana has proved his acting skills in every field of acting, but now he is ill
Published 10 Apr, 2011 12:00am
'CDA to adopt a well-organised financial system'

'CDA to adopt a well-organised financial system'

Capital Development Authority (CDA) has decided to further cut non-development expenditures by bringing financial discipline under a well organised management system and execute self-sustainable projects in the future, said Imtiaz Inayat Elahi, Chairman C
Published 10 Apr, 2011 12:00am
Marriott, Mausikaar entertain music lovers

Marriott, Mausikaar entertain music lovers

The Islamabad Marriott hotel in collaboration with Mausikaar yet once again entertained music lovers of the twin cities. The evening was attended by diplomats, ambassadors and other dignitaries. The hotel has become a hub of community services and cultura
Published 10 Apr, 2011 12:00am
US report could be more objective

US report could be more objective

Pakistan has sternly rejected the biannual White House report to the US congress, rejecting it as "unwarranted" and warned "Pakistan should not be held accountable for the failings of the coalition in Afghanistan". That some of the US Congressmen tend to
Published 10 Apr, 2011 12:00am
Eliminating polio

Eliminating polio

April 4 was the kickoff day of a three-day polio immunisation campaign, as part of the Global Polio Eradication Initiative, in various high-risk districts of Khyber Pakhtunkhwa and Fata. The programme, it may be recalled, was launched nation-wide first ba
Published 10 Apr, 2011 12:00am
LPG sector: has open market regime helped?

LPG sector: has open market regime helped?

There is usually a lot of protestation against the increase in LPG prices, which are termed unjustified by the consumers and other stake- holders. There appears to be a lot of confusion in LPG policies. Apparently, the sector is unregulated, yet OGRA is p
Published 10 Apr, 2011 12:00am
Nepal's long wait for a constitution

Nepal's long wait for a constitution

In 50 days, on May 28, the deadline for Nepal's lawmakers to draft a constitution for the Himalayan state expires. But there is little optimism that the squabbling parties will agree on the much-needed laws to move the country's peace process forward.
Published 10 Apr, 2011 12:00am
Role of free economic zones in the economy

Role of free economic zones in the economy

The Export Processing Zones (EPZs) or special economic zones (SEZ) can be summarised as a unit bearing clusters of specially designed zones of aggressive economic activity for the promotion of export.
Published 10 Apr, 2011 12:00am
KESC - finding new answers to staff overload

KESC - finding new answers to staff overload

It would be recalled that some months back, a great hue and cry was raised following the removal from service of some 4,500 employees by the KESC. In fact, such was the impact of the power utility's decision to do away with the services of such a large nu
Published 10 Apr, 2011 12:00am
Oil prices at highest level since 2008, gold breaks records

Oil prices at highest level since 2008, gold breaks records

World oil price jumped this week to the highest levels since 2008, driven by Middle East supply fears and a weak dollar, while safe-haven gold hit a record as Portugal sought an EU bailout. Other stand-out performances included tin, which enjoyed an all-t
Published 10 Apr, 2011 12:00am
Investment key as Indonesia eyes greater US cocoa exports

Investment key as Indonesia eyes greater US cocoa exports

Indonesia's cocoa industry is looking to grab a bigger slice of the US market due to unrest in top producer Ivory Coast, but needs a review of an export tax, as well as more investment to boost quality and output. Often regarded as a cheap source of low-g
Published 10 Apr, 2011 12:00am
India's tea exports decline

India's tea exports decline

India's tea exports in February 2011 fell 11.2 percent to 11.9 million kg from 13.4 million kg a year ago, data with the state-run Tea Board showed on Friday. India is the world's second biggest producer of tea after China. Tea exports in the first two mo
Published 10 Apr, 2011 12:00am
China spot copper supply may rise

China spot copper supply may rise

China has tightened rules on repatriating foreign currency from re-export of copper stored in bonded warehouses, which industry sources said on Wednesday could lead to more supplies from the stocks being sold domestically, crimping import demand.
Published 10 Apr, 2011 12:00am
Corn futures near record peak ahead of USDA data

Corn futures near record peak ahead of USDA data

US corn futures rose 1 percent on Friday, to approach a record hit in the previous session, ahead of data likely to show a further cut in already thin stocks in the United States, the world's top exporter. A weaker dollar also helped spur grain and other
Published 10 Apr, 2011 12:00am
Copper ends up

Copper ends up

Copper ended up over 2 percent on Friday, posting its biggest weekly advance since early December, as the dollar weakened and investor demand for the metal increased with inflation fears mounting. The gains ran far and wide in the base metals complex, wit
Published 10 Apr, 2011 12:00am
Soya higher

Soya higher

US soya bean futures ended nearly flat on the week but more than 2 percent higher on Friday, rallying on the unwinding of long corn/short soya bean spreads as well as near-term bullish technical signals, traders said. May soya beans edged past minor resis
Published 10 Apr, 2011 12:00am
US gold stays at record high, silver climbs

US gold stays at record high, silver climbs

Gold rose to a record high for a fourth straight day and silver surged on Friday, as a weaker dollar, the prospect of a US government shutdown and inflation worries lifted precious metals in a broad commodities rally. Gold notched its biggest weekly gain
Published 10 Apr, 2011 12:00am
Thai sugar premiums edge up

Thai sugar premiums edge up

Raw sugar premiums bounced higher after a drop in New York futures spurred buyers in Southeast Asia, but higher-than-expected output in Thailand was likely to put pressure on prices in the coming weeks, dealers said on Friday.
Published 10 Apr, 2011 12:00am
Thai raw sugar sales booked for Russia

Thai raw sugar sales booked for Russia

Raw sugar shipments from Thailand's larger than expected crop have been booked for Russia for April loading and May arrival, undercutting traditional origin Brazil, European trade sources said on Friday. Some European trade sources talked of around 200,00
Published 10 Apr, 2011 12:00am
TEPCO apologises to Japan, neighbours over radiation

TEPCO apologises to Japan, neighbours over radiation

A Japanese power company executive apologised on Saturday for spreading radiation into the air and sea as regulators said the pumping of radioactive water into waters off Japan from a crippled nuclear plant would end one day later than planned.
Published 10 Apr, 2011 12:00am
Thousands rally against Basque group ETA

Thousands rally against Basque group ETA

Tens of thousands of people marched in Madrid on Saturday to protest the Basque separatist group ETA and urge the government to bar anyone linked to it from running in regional and local elections. Basque separatists launched a new party called Sortu on F
Published 10 Apr, 2011 12:00am
Rebels repel attack on Misrata, Qadhafi appears

Rebels repel attack on Misrata, Qadhafi appears

Libyan rebels beat off a new assault by Muammar Qadhafi's forces on the besieged western city of Misrata on Saturday, losing eight of their fighters in fierce street battles, the insurgents said. As fighting raged on for the coastal town, where conditions
Published 10 Apr, 2011 12:00am
Yemen pulls envoy from Qatar in row over Gulf plan

Yemen pulls envoy from Qatar in row over Gulf plan

Yemen called home its envoy from Qatar amid a dispute over a Gulf Arab plan for Yemeni President Ali Abdullah Saleh to step down, as anti-government protesters again marched in Aden and Taiz on Saturday. Unrest in Yemen descended into violence on Friday w
Published 10 Apr, 2011 12:00am
Cameroon trims electoral body's powers

Cameroon trims electoral body's powers

Cameroon's parliament stripped its electoral body of the right to announce provisional results in future elections, and opposition parties called the move a "foul game" by President Paul Biya to steal another term. The government proposed the change in li
Published 10 Apr, 2011 12:00am
Syrian forces fire at mourners

Syrian forces fire at mourners

Syrian security forces opened fire on mourners near a mosque in the flashpoint city of Deraa after a mass funeral for pro-democracy protesters, two witnesses said on Saturday. Security forces used live ammunition and tear gas to disperse thousands of peop
Published 10 Apr, 2011 12:00am
Asean vows regional help for Japan

Asean vows regional help for Japan

Members of the Association of Southeast Asian Nations vowed Saturday to collaborate in assisting quake-devastated Japan. The foreign ministers of the bloc and Japan and their representatives met in the Asean secretariat in Jakarta to discuss their respons
Published 10 Apr, 2011 12:00am
US filmmaker Sidney Lumet dies

US filmmaker Sidney Lumet dies

Sidney Lumet, who directed classic American Oscar-winning films "Dog Day Afternoon" and "Network" in a career spanning half a century, died Saturday at age 86, The New York Times reported. Stepdaughter Leslie Gimbel said Lumet died of the cancer lymphoma,
Published 10 Apr, 2011 12:00am
Gbagbo forces regain ground in Abidjan

Gbagbo forces regain ground in Abidjan

Forces loyal to Laurent Gbagbo, besieged in Ivory Coast's main city, have retaken ground and are edging closer to where rival presidential claimant Alassane Ouattara is holed up, the United Nations said. UN peacekeeping chief Alain Le Roy told reporters o
Published 10 Apr, 2011 12:00am
Nigerians vote amid tight security after violence

Nigerians vote amid tight security after violence

Nigerians voted in a delayed parliamentary election on Saturday, determined to hold a credible poll in Africa's most populous nation despite chaotic organisation and violence. At least seven people were killed in four separate incidents in the last few ho
Published 10 Apr, 2011 12:00am
Sotheby's in record $447 million Asian art auction

Sotheby's in record $447 million Asian art auction

Sotheby's said Saturday it sold a record HK$3.49 billion ($447 million) worth of Asian and Chinese art, fine wines, watches and jewels at its eight-day Hong Kong auction. The auction house offered 3,600 lots in eight categories in what its Asia CEO Kevin
Published 10 Apr, 2011 12:00am
Expectations of rising rates to propel euro higher

Expectations of rising rates to propel euro higher

Expectations for interest-rate differentials will widen further in Europe's favour should buoy the euro against the dollar next week, while investors will closely watch US inflation data that could help shape Federal Reserve monetary policy.
Published 10 Apr, 2011 12:00am
Speculators boost bets versus yen, Aussie dollar

Speculators boost bets versus yen, Aussie dollar

Speculators abandoned bets in favour of the yen this week, shorting the Japanese currency by the biggest margin in nearly a year, and building up a record long position in the Australian dollar, data showed on Friday. The Commodity and Futures Trading Com
Published 10 Apr, 2011 12:00am
Russian rouble hits new peaks

Russian rouble hits new peaks

The rouble rallied to its strongest level since late 2008 against the dollar on Friday, spurred by high oil prices and a broad rise in the euro after the European Central Bank raised interest rates on Thursday. Reflecting the single currency's 1 percent r
Published 10 Apr, 2011 12:00am
African currency outlook

African currency outlook

Nigeria's naira is likely to remain under pressure next week as delayed elections approach, while Kenya's shilling is also likely to feel the heat from dollar-hungry oil importers.
Published 10 Apr, 2011 12:00am
Euribor interbank rates jump after ECB hike

Euribor interbank rates jump after ECB hike

Key euro-priced bank-to-bank lending rates hit 22-month highs on Friday, a day after the ECB began what is expected to be a series of hikes and as excess money market liquidity drained to its lowest since mid-2009. The ECB raised euro zone interest rates
Published 10 Apr, 2011 12:00am
Canadian dollar hits 3-1/2 year high

Canadian dollar hits 3-1/2 year high

The Canadian dollar hit its highest level in more than three years against a broadly weaker US dollar on Friday, marking its third weekly gain, as commodity prices rallied and jobs data provided some upbeat economic news. Though Canada surprisingly lost 1
Published 10 Apr, 2011 12:00am
US stocks fall in late sell-off

US stocks fall in late sell-off

US stocks fell late on Friday as a spike in oil prices revived worries that inflation would derail the recovery, jolting a market that had been treading water ahead of corporate earnings. The uncertain outcome of budget talks in Washington and the prospec
Published 10 Apr, 2011 12:00am
Indian bond yields, swaps rise

Indian bond yields, swaps rise

Indian federal bond yields and swap rates rose on Friday despite bullish cut-offs at a debt sale earlier in the day as traders started looking ahead at rising global crude prices, higher US yields and the pipeline of domestic debt supplies. The government
Published 10 Apr, 2011 12:00am
Indian bond yields, swaps rise

Indian bond yields, swaps rise

Indian federal bond yields and swap rates rose on Friday despite bullish cut-offs at a debt sale earlier in the day as traders started looking ahead at rising global crude prices, higher US yields and the pipeline of domestic debt supplies. The government
Published 10 Apr, 2011 12:00am
Emerging Markets: Latam stock indices down

Emerging Markets: Latam stock indices down

Regional stock indexes across Latin America slipped on Friday as a tax hike on personal credit in Brazil weighed on banks. At the same time, analysts said an increase in foreign capital flows could fuel gains in coming weeks as investor sentiment recovers
Published 10 Apr, 2011 12:00am
Emerging Markets: Latam stock indices down

Emerging Markets: Latam stock indices down

Regional stock indexes across Latin America slipped on Friday as a tax hike on personal credit in Brazil weighed on banks. At the same time, analysts said an increase in foreign capital flows could fuel gains in coming weeks as investor sentiment recovers
Published 10 Apr, 2011 12:00am
Turkish stocks fall

Turkish stocks fall

The Turkish lira firmed to a fresh four-month high amidst tight liquidity and bonds gained on Friday after output data calmed overheating fears, but publisher Dogan Yayin weighed on the equity index which fell 2 percent. The lira closed at 1.5020, its low
Published 10 Apr, 2011 12:00am
Treasuries yields rise

Treasuries yields rise

US Treasuries yields rose on Friday, leaving bonds with a third straight week of losses, the legacy of investors' willingness to acquire riskier assets for a greater rate of return. A potentially imminent government shutdown was also on investors' minds a
Published 10 Apr, 2011 12:00am
Treasuries yields rise

Treasuries yields rise

US Treasuries yields rose on Friday, leaving bonds with a third straight week of losses, the legacy of investors' willingness to acquire riskier assets for a greater rate of return. A potentially imminent government shutdown was also on investors' minds a
Published 10 Apr, 2011 12:00am
Sri Lankan stocks at one-month high

Sri Lankan stocks at one-month high

Sri Lanka's stock market rose to a one-month high on Friday on retail buying, as the impending long new year holiday next week kept volumes low. The island's main share index closed 0.48 percent or 35.14 points firmer at 7,413.87, Highest since March 8. I
Published 10 Apr, 2011 12:00am
Commodity rally drives up TSX by 100 points

Commodity rally drives up TSX by 100 points

Toronto's main stock index surged 100 points on Friday as rallying commodity prices, including a record high for gold, gave a bid to heavily weighted resource shares. Among the top gainers were Goldcorp, up 2.38 percent at C$52.14, Silver Wheaton, up 2.96
Published 10 Apr, 2011 12:00am
JGBs trim losses

JGBs trim losses

Japanese government bond prices trimmed earlier losses as buyers emerged on dips, but longer-dated debt was seen continuing to exert steepening pressure on the yield curve on the threat of a future increase in debt issuance. Futures volumes have recovered
Published 10 Apr, 2011 12:00am
JGBs trim losses

JGBs trim losses

Japanese government bond prices trimmed earlier losses as buyers emerged on dips, but longer-dated debt was seen continuing to exert steepening pressure on the yield curve on the threat of a future increase in debt issuance. Futures volumes have recovered
Published 10 Apr, 2011 12:00am
Mortgage REITs, readying for reform, to boost IPOs

Mortgage REITs, readying for reform, to boost IPOs

A raft of US mortgage real estate investment trusts from big asset managers like Pimco and TCW are expected to hit the market in the coming months, as investors look to profit from a recovery in the mortgage bond market. Buying mortgage bonds now is trick
Published 10 Apr, 2011 12:00am
Clarke leads Australia to win

Clarke leads Australia to win

Michael Clarke celebrated his captaincy debut with a responsible century as Australia raced to an emphatic 60-run victory over Bangladesh in the opening one-day international on Saturday. The stylish middle-order batsman, leading in his first one-day seri
Published 10 Apr, 2011 12:00am
Bangalore, Rajasthan make winning IPL starts

Bangalore, Rajasthan make winning IPL starts

AB de Villiers smashed a quickfire 54 as the Royal Challengers Bangalore spoilt the Indian Premier League debut of Kochi Tuskers Kerala with a six-wicket win on Saturday. Chasing a stiff 162, Bangalore overhauled the target with eight balls to spare in th
Published 10 Apr, 2011 12:00am
Rally for Sangakkara's reinstatement flops

Rally for Sangakkara's reinstatement flops

A campaign by fans of Sri Lanka's World Cup-losing skipper Kumar Sangakkara to demand his reinstatement ended in a flop Saturday, with only a handful of supporters turning up. Sangakkara loyalists had organised the demonstration as a Facebook event, with
Published 10 Apr, 2011 12:00am
Faisalabad retain Punjab Games Football title

Faisalabad retain Punjab Games Football title

Holders Faisalabad staged recovery to beat Lahore 2-1 in the final of 71st Punjab Games Football Tournament here at Raiders Football Club, Faisal Town ground on Saturday. It was second consecutive win for Faisalabad in the Punjab Games Football Tournament
Published 10 Apr, 2011 12:00am
Seniors Cricket Cup: Lahore Whites, SPM Stags reach semis

Seniors Cricket Cup: Lahore Whites, SPM Stags reach semis

Lahore Whites and SPM Stags on Saturday qualified for semi final of the 13th National Seniors Cricket Cup 2011. In the first match, Lahore Whites defeated Gujranwala. Batting first, Lahore Whites piled up 248-7 in allotted overs. World No I Umpire Aleem D
Published 10 Apr, 2011 12:00am
Man United cruise past Fulham 2-0 to go 10 clear

Man United cruise past Fulham 2-0 to go 10 clear

Manchester United enjoyed a stroll in the spring sunshine on Saturday as they eased to a 2-0 home win over Fulham to open a 10-point lead at the top of the Premier League. United, who host Chelsea in the second leg of their Champions League quarter-final
Published 10 Apr, 2011 12:00am
Wozniacki rallies to reach semi-finals

Wozniacki rallies to reach semi-finals

World No 1 Caroline Wozniacki rallied to reach the semi-finals of the WTA tour event here Friday, clawing her way past Belgian Yanina Wickmayer. Wozniacki trailed in both the second and third sets, but won the last four games of the encounter to notch the
Published 10 Apr, 2011 12:00am
KRL coach Lutfi taking nothing for granted

KRL coach Lutfi taking nothing for granted

New head coach of Khan Research Laboratories (KRL) soccer team Tariq Lutfi has played down Kahuta-based team's 'favourites' tag, insisting he will only be able to assess his side's chances after their opener in Group-B.
Published 10 Apr, 2011 12:00am
Global oil market oversupplied: Iran

Global oil market oversupplied: Iran

Iran sees the global oil market as oversupplied, despite prices that have been pushed up by upheaval in the Middle East, its Opec governor was quoted as saying in a newspaper published on Saturday. "Not only is there not a shortage of supply in the oil ma
Published 10 Apr, 2011 12:00am
Two small US banks closed

Two small US banks closed

US authorities closed two small US banks in Illinois and Nevada on Friday, bringing the total number of foreclosures in 2011 to 28. The Federal Deposit Insurance Corp announced that authorities had closed Western Springs National Bank and Trust, in Wester
Published 10 Apr, 2011 12:00am
Lawsuit against J.P Morgan can go forward

Lawsuit against J.P Morgan can go forward

A New York state judge left intact most of a lawsuit brought by US billionaire Len Blavatnik accusing J.P. Morgan Chase of mismanaging an investment account. The lawsuit blamed J.P. Morgan banker Ted Ufferfilge for losing $98 million in an account owned b
Published 10 Apr, 2011 12:00am
German nuclear firms halt environmental payments

German nuclear firms halt environmental payments

Four energy companies that run German nuclear plants said Saturday they have stopped payments to an environment fund after the government went back on its decision to keep the plants open for longer. EON, RWE and Vattenfall told AFP they stopped payment,
Published 10 Apr, 2011 12:00am
Google seals ITA deal but antitrust review looms

Google seals ITA deal but antitrust review looms

The Justice Department approved Google Inc's purchase of ITA Software with stiff conditions on Friday, and left the door open to a larger probe into whether Google manipulates search results to hurt rivals.
Published 10 Apr, 2011 12:00am
India new Tata chief may be in job to 40 years

India new Tata chief may be in job to 40 years

India's sprawling Tata group says the successor to its chief Ratan Tata, one of the nation's most powerful businessmen, could be at the helm for up to 40 years, according to a report Saturday. India's Tata Group announced last August it would seek a succe
Published 10 Apr, 2011 12:00am
Poland to free gas prices in 2-3 years

Poland to free gas prices in 2-3 years

Poland could free natural gas prices in 2 to 3 years at the earliest and only for businesses, the head of the oil and gas department at the Economy Ministry was quoted as saying by Rzeczpospolita daily on Saturday. The gas market is monopolised by state-c
Published 10 Apr, 2011 12:00am
Egypt lifts ban on gold exports, cites stability

Egypt lifts ban on gold exports, cites stability

Egypt has lifted a ban on the export of gold due to increasing economic and political stability, the government said in a statement on Saturday. The government decided on February 27 to ban exports of gold until June 30 - a decision which the statement is
Published 10 Apr, 2011 12:00am
Saudi Alwaleed backs Citigroup reverse stock split

Saudi Alwaleed backs Citigroup reverse stock split

Saudi billionaire Prince Alwaleed bin Talal said on Saturday he supports Citigroup's reverse stock split and reinstatement of its cash dividend. "Citigroup has demonstrated its ability to overcome the recent economic obstacles. I commend Citigroup's perfo
Published 10 Apr, 2011 12:00am
EU wants more Portugal austerity

EU wants more Portugal austerity

EU finance ministers on Saturday urged Portugal to commit to reforms and defended the region's austerity steps as tens of thousands of European workers protested in Budapest against spending cuts. Finance ministers and central bankers from the 27-nation b
Published 10 Apr, 2011 12:00am
Japan's stalled chip sector 'to cost $470 billion'

Japan's stalled chip sector 'to cost $470 billion'

The cost to the global economy of Japan's stalled computer chip industry remaining shuttered into May could be almost half a trillion dollars, a report said Saturday. Manufacturers across Japan have closed down production lines or cut back their output be
Published 10 Apr, 2011 12:00am
Rehn excludes Greek debt restructuring

Rehn excludes Greek debt restructuring

A restructuring of Greek debt is out of the question, Economic and Monetary Affairs Commissioner Olli Rehn said on Saturday. German magazine Der Spiegel reported on Saturday that several eurozone finance ministers told European Central Bank President Jean
Published 10 Apr, 2011 12:00am
European NGOs form new group to counter banking lobby

European NGOs form new group to counter banking lobby

A clutch of European consumer groups, unions and non-governmental organisations are banding together to form a pressure group to push for financial reform and counter the influence of the banking industry. The new group, Finance Watch, announced Saturday
Published 10 Apr, 2011 12:00am
Vietnam tightens dollar holdings, caps interest rate

Vietnam tightens dollar holdings, caps interest rate

Vietnam will force banks to keep more reserves against their foreign currency deposits from next month and impose a ceiling on dollar deposit rates, the central bank said, as it moves to curb dollarisation and ease pressure on the domestic currency.
Published 10 Apr, 2011 12:00am
Soyabean export premiums firm

Soyabean export premiums firm

Soyabean export premiums at the US Gulf Coast were firm on Friday, rising in tandem with a higher CIF barge market despite sluggish export demand for US supplies, traders said. CIF soyabean basis bids firmed in the second half of this week on tight suppli
Published 10 Apr, 2011 12:00am
US Midwest bids for corn, soyabean largely flat

US Midwest bids for corn, soyabean largely flat

Spot basis bids for corn and soyabeans stayed largely unchanged in the US Midwest on Friday and farmer offerings were light, with dealers reporting only scattered sales of both commodities. River bids were mostly unchanged although the soya basis fell 2 c
Published 10 Apr, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 91,041 tonnes of cargo including 45,549 tonnes of import cargo, 45,492 tonnes of export cargo and 3,294 loaded & empty containers during last 24 hours ended at 0700 hours on Saturday. The total import cargo of 45,549 tonnes compri
Published 10 Apr, 2011 12:00am
Cameroon cocoa exports up

Cameroon cocoa exports up

Cocoa exports from Cameroon, the world's No 5 grower, hit 186,305 tonnes by the end of March from the start of the season in August, up 21 percent year-on-year, according to official figures on Friday. Some 2,215 tonnes were exported in March alone, accor
Published 10 Apr, 2011 12:00am
Cocoa butter prices fall in Asia

Cocoa butter prices fall in Asia

Cocoa butter prices eased in Asia as chocolate makers have finished stocking up for the Easter holiday, dealers said on Friday, while heavy rain in Indonesia's main cocoa-growing areas of Sulawesi is likely to push back the start of its main harvest to en
Published 10 Apr, 2011 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Friday, shrugging off earlier losses due to bearish US soyabean data to climb with soya and crude oil futures. Nearby May canola notched a 0.3 percent weekly loss, its first in four weeks despite Friday's gain.
Published 10 Apr, 2011 12:00am
Prices move both ways on grain market

Prices move both ways on grain market

Most of the commodity items tended higher on the local wholesale grain market on Saturday in process of modest trading, dealers said. On the cereal side wheat old Bardan was quoted lower at Rs 2375 and wheat new Bardan also registered down at Rs 2390, oth
Published 10 Apr, 2011 12:00am
Insipid business witnessed on cotton market

Insipid business witnessed on cotton market

Slow trading was seen on the cotton market on Saturday as mills are still double minded due to rising asking prices by the ginners, dealers said. Karachi Cotton Association (KCA) official spot rate was steady at Rs 12,500, they said. In Sindh and Punjab p
Published 10 Apr, 2011 12:00am
Oil cake market rates

Oil cake market rates

The May vaida was up and July contract was unchanged on the forward cottonseed oilcake market on Saturday in process of trading, dealers said. The May vaida that had closed at Rs 1327.50 opened with a gain of 30 paisa at Rs 1327.80. The July contract whic
Published 10 Apr, 2011 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 10 Apr, 2011 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 10 Apr, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Saturday (April 09, 2011).

Published 10 Apr, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Saturday (April 09, 2011).

Published 10 Apr, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Saturday (April 09, 2011).

Published 10 Apr, 2011 12:00am
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