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Archive - 2011-04-26
Syria deploys troops as UN meeting urged
Top News

Syria deploys troops as UN meeting urged

DAMASCUS: Syria bolstered its troops Tuesday in the flashpoint town of Daraa as a rights group appealed for UN intervent
Published 26 Apr, 2011 08:28pm
Libyan tribes call on Qadhafi to go
Top News

Libyan tribes call on Qadhafi to go

MISRATA: Libya's tribes on Wednesday urged Moamer Qadhafi to cede power, as rebels backed by NATO air strikes said they
Published 26 Apr, 2011 07:00pm
Attack on port of Misrata kills three
Top News

Attack on port of Misrata kills three

MISRATA: At least three African refugees were killed on Tuesday when forces loyal to Libyan leader Moamer Qadhafi fired
Published 26 Apr, 2011 06:58pm
Greek yields rise further
Financial

Greek yields rise further

LONDON: Investors continued to shun Greece's bonds on Tuesday, still nervous about a potential debt restructuring, while
Published 26 Apr, 2011 06:52pm
Obama meets Abu Dhabi crown prince
Top News

Obama meets Abu Dhabi crown prince

WASHINGTON: US President Barack Obama welcomed Abu Dhabi crown prince Sheikh Mohammed bin Zayed al-Nahayan to the White
Published 26 Apr, 2011 06:42pm
US consumer confidence improves slightly
Top News

US consumer confidence improves slightly

WASHINGTON: US consumer confidence improved marginally in April, after a sharp fall the month before, according to close
Published 26 Apr, 2011 04:02pm
European stocks close higher
Financial

European stocks close higher

LONDON: Europe's main stock markets closed higher on Tuesday with London's FTSE 100 index of leading shares rising 0.85
Published 26 Apr, 2011 03:57pm
KSE board for RSA project
Markets

KSE board for RSA project

KARACHI: Board of directors of Karachi Stock Exchange (KSE) has decided to make it mandatory for exchange members to imp
Published 26 Apr, 2011 03:19pm
MCB declares 30 pc dividend
Top News

MCB declares 30 pc dividend

KARACHI: MCB Bank has posted a higher profit after tax of Rs5.023 billion for the quarter ending March 31, 2011 and decl
Published 26 Apr, 2011 10:34am
Soaring food prices a threat across Asia
Top News

Soaring food prices a threat across Asia

MANILA: Soaring global food prices threaten to push tens of millions of Asians into extreme poverty and cut the region's
Published 26 Apr, 2011 09:22am
ASEAN welcomes first US ambassador
Asia

ASEAN welcomes first US ambassador

JAKARTA: The United States' first ambassador to the Association of Southeast Asian Nations (ASEAN) presented his credent
Published 26 Apr, 2011 08:46am
6.3 magnitude quake hits Indonesia
Top News

6.3 magnitude quake hits Indonesia

CILACAP: A 6.3-magnitude earthquake hit Central Java on Tuesday, around 120 kilometres southwest of Cilacap at a depth o
Published 26 Apr, 2011 07:25am
Japan shares open lower
Financial

Japan shares open lower

TOKYO: Japanese shares opened lower on Tuesday on a firmer yen and after a disappointing earnings report and outlook fro
Published 26 Apr, 2011 06:13am
DAP boosts FFBL profits
BR Research

DAP boosts FFBL profits

Fauji Fertilizer Bin Qasim (FFBL) put a strong show for the quarter ending March 2011, posting a massive growth in profits. The companys net
Published 26 Apr, 2011 12:00am
Bank Alfalah up and running
BR Research

Bank Alfalah up and running

Bank Alfalahs liability gatherers must be rejoicing on their performance in the first quarter ending March 2011. Thanks to their efforts tha
Published 26 Apr, 2011 12:00am
Allied Bank Limited
BR Research

Allied Bank Limited

Powered by growth in net mark-up income and decline in provisions, Allied Banks first quarter profit rose by 41 percent to Rs2.5 billion fro
Published 26 Apr, 2011 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Monday (April 25, 2011).

Published 26 Apr, 2011 12:00am
Hina meets Saudi Foreign Minister

Hina meets Saudi Foreign Minister

Minister of State for Foreign Affairs Ms Hina Rabbani Khar held an important meeting with Saudi Foreign Minister, Prince Saud Al Faisal here on Monday. During the meeting, both the ministers reiterated their resolve to expedite regional, and international
Published 26 Apr, 2011 12:00am
Hina meets Saudi Foreign Minister

Hina meets Saudi Foreign Minister

Minister of State for Foreign Affairs Ms Hina Rabbani Khar held an important meeting with Saudi Foreign Minister, Prince Saud Al Faisal here on Monday. During the meeting, both the ministers reiterated their resolve to expedite regional, and international
Published 26 Apr, 2011 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Monday (April 25, 2011).

Published 26 Apr, 2011 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (April 25, 2011).

Published 26 Apr, 2011 12:00am
PPP, PML-N favour creation of new provinces

PPP, PML-N favour creation of new provinces

The ruling Pakistan People's Party (PPP) and major opposition party in the National Assembly-Pakistan Muslim League-Nawaz (PML-N) on Monday favoured creation of new provinces by following constitutional course.
Published 26 Apr, 2011 12:00am
PPP, PML-N favour creation of new provinces

PPP, PML-N favour creation of new provinces

The ruling Pakistan People's Party (PPP) and major opposition party in the National Assembly-Pakistan Muslim League-Nawaz (PML-N) on Monday favoured creation of new provinces by following constitutional course.
Published 26 Apr, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (April 25, 2011).

Published 26 Apr, 2011 12:00am
IAEA terms programme safe, secure

IAEA terms programme safe, secure

International Atomic Energy Agency (IAEA) on Monday declared the nuclear programme of Pakistan as safe and secure and appreciated the obvious dedication to the safety and security of the regulators as well of operators.
Published 26 Apr, 2011 12:00am
IAEA terms programme safe, secure

IAEA terms programme safe, secure

International Atomic Energy Agency (IAEA) on Monday declared the nuclear programme of Pakistan as safe and secure and appreciated the obvious dedication to the safety and security of the regulators as well of operators.
Published 26 Apr, 2011 12:00am
Pakistan's nuclear arsenal safe: US

Pakistan's nuclear arsenal safe: US

The United States is satisfied that Pakistan's nuclear assets are fully secure. Asked to confirm the impression that the United States is reasonably confident about how secure the nuclear weapons are in Pakistan, Michele Flournoy, Under Secretary of Defen
Published 26 Apr, 2011 12:00am
Pakistan's nuclear arsenal safe: US

Pakistan's nuclear arsenal safe: US

The United States is satisfied that Pakistan's nuclear assets are fully secure. Asked to confirm the impression that the United States is reasonably confident about how secure the nuclear weapons are in Pakistan, Michele Flournoy, Under Secretary of Defen
Published 26 Apr, 2011 12:00am
Country has no election commission: AG tells apex court

Country has no election commission: AG tells apex court

The Supreme Court was informed on Monday that no Election Commission exists in the country, at present, on which the court showed its indignation and asked for setting up an independent 'election commission' as per 18th constitutional amendment.
Published 26 Apr, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Monday (April 25, 2011) and for Tuesday (April 26, 2011).
Published 26 Apr, 2011 12:00am
Country has no election commission: AG tells apex court

Country has no election commission: AG tells apex court

The Supreme Court was informed on Monday that no Election Commission exists in the country, at present, on which the court showed its indignation and asked for setting up an independent 'election commission' as per 18th constitutional amendment.
Published 26 Apr, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (April 25, 2011).

Published 26 Apr, 2011 12:00am
KSE board takes some key decisions

KSE board takes some key decisions

The Board of Directors of Karachi Stock Exchange (KSE) took some key decisions in its meeting held here on Monday. The KSE board approved implementation of RSA Token Project making mandatory for members of the exchange, as recommended by Development & Tra
Published 26 Apr, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (April 25, 2011).

Published 26 Apr, 2011 12:00am
Recovery of missing person: LHC disposes of petition

Recovery of missing person: LHC disposes of petition

The Lahore High Court here on Monday disposed of a petition for recovery of an alleged missing person Hafiz Ahsanullah as the CIA Police informed that the accused was wanted in several cases of heinous crime. On the last hearing SP CIA Umar Virk had faile
Published 26 Apr, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (April 25, 2011).

Published 26 Apr, 2011 12:00am
The Weather

The Weather

The weather report on Monday (April 25, 2011) and the forecast for Tuesday (April 26, 2011).

Published 26 Apr, 2011 12:00am
'Lums Day' celebrated in Washington DC

'Lums Day' celebrated in Washington DC

As part of Lahore University of Management Sciences 25th anniversary celebration series, 'Lums Day' was organised in Washington DC. Husain Haqqani, Pakistan's Ambassador to the United States in Washington participated in the event on special invitation by
Published 26 Apr, 2011 12:00am
Youth Theatre festival

Youth Theatre festival

A Youth Theatre Festival will be organised in the metropolis from April 27. The two-day event is being held under the auspices of the Department of Youth Affairs, Government of Sindh, in collaboration with the Arts Council of Pakistan, Karachi.
Published 26 Apr, 2011 12:00am
Steel Mills to be on top of Zardari's agenda: visit to Russia on May 12

Steel Mills to be on top of Zardari's agenda: visit to Russia on May 12

The Russian Consul General, Andrey Demidov, has said that Pakistan Steel Mills would be on top of the agenda during the visit of President Asif Ali Zardari to Russia on May 12. Addressing Lahore Chamber of Commerce (LCCI) members here on Monday, he said t
Published 26 Apr, 2011 12:00am
Three soldiers killed in Gilgit-Baltistan road mishap

Three soldiers killed in Gilgit-Baltistan road mishap

Three army soldier were killed and three others sustain injuries in a road mishap on Monday. According to police sources told APP, the incident was occurred when an army vehicle carried six army soldiers from Gilgit-Baltistan (GB) to Rawalpindi near Diame
Published 26 Apr, 2011 12:00am
Commission deferes HEC, Health Ministry's devolution

Commission deferes HEC, Health Ministry's devolution

The Implementation Commission on 18th Amendment has deferred the transfer of Higher Education Commission (HEC) and Health Ministry to the provinces for a short period, it is learnt. According to the sources, Health Ministry was to be transferred to the pr
Published 26 Apr, 2011 12:00am
Housing census operations further extended

Housing census operations further extended

The Population Census Organisation (PCO) of Statistics division has further extended Housing Census 2011 operations to further 10 days up to May 5, a senior official of the organisation said. "The Prime Minister has given approval of extending the date of
Published 26 Apr, 2011 12:00am
From A Ringside Seat

From A Ringside Seat

No one would disagree to the opposition leader Chaudhary Nisar Ali that the way the country was being ruled by the present government was posing serious threat to the system. He exposed for the first time from where this threat is emanating and how some f
Published 26 Apr, 2011 12:00am
Government pursuing investor-friendly policies: Gilani

Government pursuing investor-friendly policies: Gilani

Prime Minister, Syed Yusuf Raza Gilani on Monday said government has formulated policies to provide all facilities to local as well as foreign investors. He was talking to Saleem H. Mandviwala, Chairman Board of Investment (BoI) who called on him at the P
Published 26 Apr, 2011 12:00am
SMEs granted Rs 334 billion loans: National Assembly informed

SMEs granted Rs 334 billion loans: National Assembly informed

Total Rs 334 billion loans have been granted by the commercial banks for the development of small/cottage industries in the country up to December 31, 2010. In a written reply to a question in the National Assembly, Finance Minister Hafeez Sheikh said tha
Published 26 Apr, 2011 12:00am
LTIA calls off strike against load-shedding: committees constituted

LTIA calls off strike against load-shedding: committees constituted

Lahore Township Industries Association (LTIA) has constituted two committees to deal with announced and unannounced load-shedding. The decision to this effect was taken at a meeting chaired by LTIA Chairman, Haroon Shafiq Chaudhry and was attended by a la
Published 26 Apr, 2011 12:00am
Unicef celebrating 'Mother & Child Health Week' in Punjab

Unicef celebrating 'Mother & Child Health Week' in Punjab

With a view to raising awareness and promoting health education among the women pertaining to issues related to pregnancy, delivery and healthcare of the infants, Health Department Punjab in collaboration with Unicef is celebrating 'Mother & Child Health
Published 26 Apr, 2011 12:00am
Don't be afraid of sponsored demonstrations, Gilani tells MNAs

Don't be afraid of sponsored demonstrations, Gilani tells MNAs

Prime Minister Syed Yousuf Raza Gilani on Monday gave a morale booster to the elected members of the Parliament and advised them not to 'feel threatened' from any agencies' sponsored demonstration, saying they have support of the masses who had elected th
Published 26 Apr, 2011 12:00am
'People facing immense problems'

'People facing immense problems'

PPP leader Chaudhry Aitzaz Ahsan said people are facing immense problems during the President Asif Zaradri's rule. Talking to the media persons at the Lahore High Court premises Aitzaz added, federal government is not the sole responsible for situation as
Published 26 Apr, 2011 12:00am
GCU to set up students' placement centre

GCU to set up students' placement centre

The Government College University Lahore (GCU) Chemistry Department Monday signed a memorandum of understanding (MoU) with Technology Exchange and Co-ordination Limited (TEC) to set up Students' Placement Centre at the Sundar Industrial Estate for placeme
Published 26 Apr, 2011 12:00am
Fluorescent lamps project: ADB to provide $40 million

Fluorescent lamps project: ADB to provide $40 million

The Asian Development Bank (ADB) will provide $40 million for "National Compact Fluorescent Lamps (CFLs) Project." In a written reply to the National Assembly, Finance Minister Hafeez Sheikh said the ADB was providing Pakistan a Multi-tranche Financing Fa
Published 26 Apr, 2011 12:00am
Government to provide soft loans to industries affected by floods

Government to provide soft loans to industries affected by floods

The government will provide soft loans for revival of those industries that have been affected during the 2010 floods. Federal Minister for Information and Broadcasting Dr Firdous Ashiq Awan said while replying to supplementary questions to the members in
Published 26 Apr, 2011 12:00am
Cholistan land: Gilani slammed for backing Zardari

Cholistan land: Gilani slammed for backing Zardari

Former Information Minister, Senator Mohammed Ali Durrani on Monday has alleged that Prime Minister Syed Yousaf Raza Gilani is supporting Zardari in his bid to usurp 6.4 million acres of Cholistan land in the name of Seraiki province.
Published 26 Apr, 2011 12:00am
Raza wants to quit

Raza wants to quit

Federal Minister for Inter-Provincial Co-ordination Mian Raza Rabbani is said to have urged President Asif Ali Zardari to relieve him of his portfolio in case Pakistan Muslim League (PML-Q) joins the cabinet. Well-placed sources in the PPP told Busines
Published 26 Apr, 2011 12:00am
Supply of furnace oil: dispute between Pepco and PSO remains unresolved

Supply of furnace oil: dispute between Pepco and PSO remains unresolved

Mostly thermal power station established in Southern Punjab have cut their power generation by 50 percent, while Kapco had shut its turbines as the dispute between the Pakistan Electric Power Company (Pepco) and Pakistan State Oil (PSO) relating to the su
Published 26 Apr, 2011 12:00am
1.2 million tons of wheat exported so far

1.2 million tons of wheat exported so far

Pakistan has exported 1.2 million tons of wheat, out of 3 million tons allowed by the government, sources told this correspondent. Wheat stocks soared this year after a bumper crop of 23.86 million tons in 2009/10, and a carryover of 4.2 million tons from
Published 26 Apr, 2011 12:00am
Afridi for effective enforcement of IPR laws

Afridi for effective enforcement of IPR laws

Weakness in enforcement of Intellectual Property Rights (IPR) laws tantamount to crossing the red line in IPR violation, which may attract economic sanctions, said Hameedullah Jan Afridi, Chairman Intellectual Property Organisation (IPO) here on Monday.
Published 26 Apr, 2011 12:00am
Miscreants ransack PML-N office, restaurant

Miscreants ransack PML-N office, restaurant

Scores of nationalist parties' activists on Monday attacked the regional office of Pakistan Muslim League (PML-N) to express resentment over the statement of Punjab CM Shahbaz Sharif regarding formation of new provinces in Sindh. The onslaught was witness
Published 26 Apr, 2011 12:00am
Wheat harvesting in full swing in Punjab

Wheat harvesting in full swing in Punjab

After a hot and dry weather in Punjab, wheat harvesting, both mechanical and manual is in full swing, Director General Punjab Agriculture Extension Services, Anjum Ali told Business Recorder, here on Monday. According to official sources Pakistan is expec
Published 26 Apr, 2011 12:00am
Six including woman killed in separate incidents

Six including woman killed in separate incidents

At least six persons including a woman were killed in separate incidents of violence in various parts of the metropolis here on Monday. According to details, a man was shot dead while his brother was injured at Paper Market in the limits of Kharadar polic
Published 26 Apr, 2011 12:00am
PPP only party to steer country out of difficult times: Zardari

PPP only party to steer country out of difficult times: Zardari

President Asif Ali Zardari said that PPP is the only major political force in the country, which could provide a lead in steering the country out of the difficult times and reiterated that the party and the government while pursuing the vision of Shaheed
Published 26 Apr, 2011 12:00am
Two dacoits killed in encounter

Two dacoits killed in encounter

Police on Monday claimed to have killed two alleged dacoits in an encounter in the limits of Gulshan-i-Maymar police station. According to details, two alleged dacoits, who were busy in snatching cell phone and valuables from Muhammad Afzal in the limits
Published 26 Apr, 2011 12:00am
Zardari stresses strong trade, defence ties with Saudi Arabia

Zardari stresses strong trade, defence ties with Saudi Arabia

President Asif Ali Zardari on Monday said Pakistan values its cordial and friendly relations with the brotherly country, Saudi Arabia. The President further emphasised upon augmenting socio-economic, trade and defence ties between Pakistan and Saudi Arabi
Published 26 Apr, 2011 12:00am
Huang Chang, Liu Jian call on President

Huang Chang, Liu Jian call on President

Huang Chang Yuan, Vice Chairman Xinjiang Regional Chinese Peoples Consultative Congress and Chinese Ambassador to Pakistan Liu Jian on Monday called on President Asif Ali Zardari at Aiwan-e-Sadr. Matters relating to Sino-Pak bilateral relations and mutual
Published 26 Apr, 2011 12:00am
CNICs for eunuchs: Supreme Court directive to Nadra

CNICs for eunuchs: Supreme Court directive to Nadra

The Supreme Court on Monday directed the National Database and Registration Authority (Nadra) to fill gender column with 'he-male and she-male' while issuing CNICs to eunuchs. A three-member bench headed by Chief Justice Iftikhar Muhammad Chaudhry with Ju
Published 26 Apr, 2011 12:00am
Sindh tops list of political violence

Sindh tops list of political violence

Sindh topped the list of political violence from December 2010 to February 2011 with 90 incidents out of total 240 followed by Balochistan with 78 incidents, Khyber-Pakhtunkhwa 45, Federally Administered Tribal Areas (FATA) 18, Gilgit-Baltistan (GB) 18, t
Published 26 Apr, 2011 12:00am
Strategy in place to resolve Balochistan issues: Prime Minister

Strategy in place to resolve Balochistan issues: Prime Minister

Prime Minister, Syed Yousuf Raza Gilani on Monday said that the government has evolved a comprehensive strategy to address the problems of Balochistan and would extend every possible support to the provincial government for its accelerated development.
Published 26 Apr, 2011 12:00am
ACCA to hold pre-budget seminar

ACCA to hold pre-budget seminar

Encouraging Enterprise - Growth of Business is the theme of ACCA pre-budget discussions for 2011. ACCA is holding a pre-budget seminar on 27 April, 29 April and 5 May in Lahore, Karachi and Islamabad respectively. These discussions are aimed to bring poli
Published 26 Apr, 2011 12:00am
Gilani to address MCCI members

Gilani to address MCCI members

Prime Minister Yousuf Raza Gilani will address the members of Multan Chamber of Commerce and Industry on April 29 at 6pm. The prime minister will also inaugurate the newly constructed flyovers at Gaddafi chowk and Nishtar which were completed under Prime
Published 26 Apr, 2011 12:00am
NAB invites claims from Rado Livna allottees

NAB invites claims from Rado Livna allottees

The affectees/ allottees of Rado Builders & Developers of Rado Livna & Shopping Arcade, have been requested by National Accountability Bureau (NAB), Sindh, to file their claims by May 15 to enable the NAB decide future course of action against the builder
Published 26 Apr, 2011 12:00am
Baig appointed chairman PAK-UAE Business Council

Baig appointed chairman PAK-UAE Business Council

Federation of Pakistan Chamber of Commerce & Industry President Senator Haji Ghulam Ali has appointed Dr Mirza Ikhtiar Baig as Chairman PAK-UAE Business Council of FPCCI. The other directors on the board elected unopposed from Dr Baig's panel are: Khalid
Published 26 Apr, 2011 12:00am
Japan earthquake relief fund Indus Motor donates Rs 5 million

Japan earthquake relief fund Indus Motor donates Rs 5 million

To support Japan earthquake relief efforts, a small ceremony was held at Japanese Consulate in Karachi. Ali S. Habib, Chairman Indus Motors Company Limited presented a cheque of Rs 5 million to Sohail Wajahat, Chairman Pakistan Red Crescent Society. Parve
Published 26 Apr, 2011 12:00am
Supply to Nato, ISAF forces reduced

Supply to Nato, ISAF forces reduced

The supply of North Atlantic Treaty Organisation (Nato) and International Security Assistance Force (ISAF) via Pakistan has been considerably reduced after the torching of convoys destined for Afghanistan. Khyber Transport Association's President Shakeer-
Published 26 Apr, 2011 12:00am
ICCI urges government to expedite IP gas line project

ICCI urges government to expedite IP gas line project

The government should make utmost efforts to ensure completion of Iran-Pakistan gas pipeline project for unhindered supply of gas to power production and industrial units, ending loadshedding and helping industry to utilise its full capacity, said Mahfooz
Published 26 Apr, 2011 12:00am
Meezan Bank launches 'Laptop Financing'

Meezan Bank launches 'Laptop Financing'

Pakistan's first and largest Islamic bank, Meezan Bank has launched a new consumer financing product that will allow customers to purchase laptops on easy instalments. The new product called Laptop Ease is being offered for repayment periods ranging from
Published 26 Apr, 2011 12:00am
PFF to organise WFFP General Assembly meetings from April 27

PFF to organise WFFP General Assembly meetings from April 27

The General Assembly-5 (GA-5) of World Forum of Fisher Peoples (WFFP) will be held here from April 27 to 30. So far, WFFP's three constituent assembly meetings and one general body meeting have been held in Delhi (India), Loctudy (France), Kisumu (Kenya),
Published 26 Apr, 2011 12:00am
CJCSC calls on President

CJCSC calls on President

Chairman Joint Chiefs of Staff Committee (CJCSC) General Khalid Shameem Wynne called on President Asif Ali Zardari at Aiwan-e-Sadr on Monday. Professional matters pertaining to the Armed Forces were discussed during the meeting, a press release from Presi
Published 26 Apr, 2011 12:00am
FJA delegation calls on CJP

FJA delegation calls on CJP

A foreign delegation of Federal Judicial Academy (FJA) trainers, who are on one-week visit to Pakistan to impart legal education to judges of the district courts, called on the Chief Justice Iftikhar Muhammad Chaudhry here on Monday.
Published 26 Apr, 2011 12:00am
Joint promotional campaign: Mobilink, Shell announce names of winners

Joint promotional campaign: Mobilink, Shell announce names of winners

Mobilink, Pakistan's market leader in cellular services and part of Orascom Telecom Holding and Shell Pakistan Ltd, the premier oil and lubricants company, Monday jointly announced names of winners of their first lucky draw for joint promotional campaign
Published 26 Apr, 2011 12:00am
Tarin condoles Moin's death

Tarin condoles Moin's death

Shaukat Tarin offered his deepest condolences to the family of Moin Akhtar upon his sudden and untimely death. He stated in his message that Akhtar was a true star, loved by millions, and added that he performed on stage, television and film with an inimi
Published 26 Apr, 2011 12:00am
US MIDDAY: copper slides

US MIDDAY: copper slides

COMEX copper prices closed with steep losses on Monday, failing to recover despite a surge in sales of new US homes, amid near-term economic outlooks in the US, UK and China that offer little reason to push industrial metals beyond current lofty levels.
Published 26 Apr, 2011 12:00am
US MIDDAY: soyabeans higher

US MIDDAY: soyabeans higher

US soyabean futures ended higher Monday after trading choppily on either side of unchanged in thin action, traders said. Prices, which hit a two-week high of $13.91-1/4 during the session, were boosted by higher US corn and wheat prices, but follow-throug
Published 26 Apr, 2011 12:00am
Gold jumps to record high; silver surges

Gold jumps to record high; silver surges

Spot gold hit a lifetime high on Monday, extending a record-breaking rally to its seventh consecutive session, buoyed by a weak dollar that languished around its three-year low amid increasing tension in the Middle East and North Africa. Silver, dubbed as
Published 26 Apr, 2011 12:00am
Malaysian palm oil falls

Malaysian palm oil falls

Malaysian palm oil futures rose to a near two-week high before reversing gains to end down on Monday, as lower than expected export data offset rising crude prices. Benchmark July crude palm oil contract on Bursa Malaysia Derivatives Exchange closed at 3,
Published 26 Apr, 2011 12:00am
New York cotton ends mostly up

New York cotton ends mostly up

US cotton futures finished mostly higher on Monday, with May cotton deliveries strong and droughts threatening the December new crop, but July was pressured from export cancellations overhanging the market amid new supply coming from Southern Hemisphere g
Published 26 Apr, 2011 12:00am
New oil production spared tough Venezuela tax

New oil production spared tough Venezuela tax

Joint ventures between private firms and Venezuela's state oil company PDVSA will not pay a windfall tax on new output until they have recovered their investments, Oil Minister Rafael Ramirez told Reuters on Monday.
Published 26 Apr, 2011 12:00am
Tokyo rubber futures fall

Tokyo rubber futures fall

Key Tokyo rubber futures fell 4 percent on Monday on weakness in Shanghai rubber futures and concern over softening demand from the Japanese auto sector. The benchmark TOCOM rubber futures for October delivery, which debuted on Monday, fell as low as 395.
Published 26 Apr, 2011 12:00am
Oil dips in choppy trade

Oil dips in choppy trade

Oil prices slipped on Monday in thin, choppy trade as a sell-off in silver from near record highs lifted the dollar off its lows, prompting a bout of profit taking in crude. Silver surged as much as 8 percent in record volumes for US futures before pullin
Published 26 Apr, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

Shanghai copper closed lower on Monday, tracking losses in US futures, which dropped as much as 1.3 percent, ahead of possibly weak economic data from the United States and Britain this week. The most active Shanghai copper contract, July, fell 1 percent
Published 26 Apr, 2011 12:00am
Commodities crunch worsens for consumers, companies

Commodities crunch worsens for consumers, companies

Food, beverage and household products companies have been pressured for months by rising commodity costs and their stocks have paid the price, but Kimberly-Clark Corp showed on Monday things could be even worse. "I think it is going to be really tough for
Published 26 Apr, 2011 12:00am
China 'imported enough sugar to ensure 2011 supply'

China 'imported enough sugar to ensure 2011 supply'

China's 2010/2011 sugar output is expected to slip this year to 10.5 million tonnes, down from 10.74 million tonnes last year, but the government has already stocked enough imports to cover any deficit, an industry website quoted government officials as s
Published 26 Apr, 2011 12:00am
Rizvi asked to introduce rules of house procedure

Rizvi asked to introduce rules of house procedure

Deputy Speaker Faisal Karim Kundi on Monday advised Muttahida Qaumi Movement (MQM) lawmaker Syed Haider Abbas Rizvi to introduce amendments in the rules of procedure and conduct of business in the National Assembly for allocating specific time for all mem
Published 26 Apr, 2011 12:00am
58,599 applications received under Hajj Scheme

58,599 applications received under Hajj Scheme

Around 58,599 applications were received till April 23 under government's Hajj Scheme. According to a press release issued by the Religious Affairs Ministry on Monday, these include 47,132 Green Category and 11,467 White Category applications.
Published 26 Apr, 2011 12:00am
World Meningitis Day - a beginning of the end for meningitis

World Meningitis Day - a beginning of the end for meningitis

World Menin-gitis Day was globally observed on April 24. The entire healthcare community came together to continue their efforts to eradicate this deadly disease and to save millions of children worldwide. Meningitis refers to an inflammation of the membr
Published 26 Apr, 2011 12:00am
Broadening tax base: government urged to take tough decisions in budget

Broadening tax base: government urged to take tough decisions in budget

Dr Ishrat Hussain, former Governor State Bank of Pakistan (SBP), has said the government should take tough decisions to broaden tax base in the country. "Every income should be brought under tax net to generate more revenues for the country in the upcomin
Published 26 Apr, 2011 12:00am
BAFL profit after tax increases to Rs 929.677 million

BAFL profit after tax increases to Rs 929.677 million

The profit after tax of Bank Al Falah Limited (BAFL) has increased to Rs 929.677 million in the quarter ended March 31, 2011 as compared to Rs 586.489 million earned in the corresponding period in 2010. The board of directors of the bank in its meeting he
Published 26 Apr, 2011 12:00am
BAFL profit after tax increases to Rs 929.677 million

BAFL profit after tax increases to Rs 929.677 million

The profit after tax of Bank Al Falah Limited (BAFL) has increased to Rs 929.677 million in the quarter ended March 31, 2011 as compared to Rs 586.489 million earned in the corresponding period in 2010. The board of directors of the bank in its meeting he
Published 26 Apr, 2011 12:00am
Seven cops wounded in police station blasts

Seven cops wounded in police station blasts

At least seven policemen were wounded in a series of explosions inside Gulbahar Police Station on main G. T Road here on Monday, police and rescue officials said. The condition of the two of the injured police personnel is stated to be serious.
Published 26 Apr, 2011 12:00am
Hoax bomb call creates panic

Hoax bomb call creates panic

A hoax bomb call resulted in an emergency drill by bomb disposal squad, volunteers of Hilal-e-Ahmar, Edhi, Cheepa and Tipu Sultan police, who rushed to Business Avenue Building for search and rescue on Monday. According to detail, a call was received by t
Published 26 Apr, 2011 12:00am
Tremors felt in upper parts

Tremors felt in upper parts

An earthquake of mild intensity measuring 4.1 on Richter scale struck upper areas of country including Swat, Malakand, Dir, Buner, Shangla and adjoining areas in the wee hours on Monday. According to the initial report of met office, no loss of life was r
Published 26 Apr, 2011 12:00am
NH&MP recover snatched car after encounter

NH&MP recover snatched car after encounter

National Highways and Motorway Police (NH&MP) has recovered a stolen car after exchange of firing with car lifters near Burhan on Motorway (M-1). NH&MP spokesperson, Javed Chaudhry said that motorway Police was informed by Islamabad Police at 0750hrs that
Published 26 Apr, 2011 12:00am
Zulqarnain Haider returns

Zulqarnain Haider returns

Runaway former Pakistan wicketkeeper Zulqarnain Haider returned home from Britain on Monday after receiving government assurances about the safety of his family. Haider, who turned 25 on Saturday, fled the Pakistan team's hotel in Dubai on November 8 for
Published 26 Apr, 2011 12:00am
Indonesian CG hosts 'ASEAN Plus Golf Tournament'

Indonesian CG hosts 'ASEAN Plus Golf Tournament'

The Consulate General of Republic of Indonesia in Karachi, on the occasion of Indonesian Chairmanship of MEAN 2011, organised First ASEAN Plus Diplomatic Tournament" at OHA Golf Club, Karachi, here on Monday. Consul generals of six countries namely Indone
Published 26 Apr, 2011 12:00am
Sri Lanka's Dilshan seeks early IPL exit

Sri Lanka's Dilshan seeks early IPL exit

Sri Lanka's new skipper Tillakaratne Dilshan, one of the stars of the Indian Premier League, has said he wants to leave the event early to travel with the national team to England on tour. Dilshan is keen to join the Sri Lankan squad when they fly to Engl
Published 26 Apr, 2011 12:00am
Delhi Commonwealth Games chief arrested

Delhi Commonwealth Games chief arrested

Indian police Monday arrested the chief organiser of the 2010 Delhi Commonwealth Games and are set to charge him after a probe into allegations of widespread corruption at the scandal-tainted event. Suresh Kalmadi will be "produced before a special judge"
Published 26 Apr, 2011 12:00am
50 new cricket grounds to be developed in Lahore: Punjab chief minister

50 new cricket grounds to be developed in Lahore: Punjab chief minister

Punjab Chief Minister Shahbaz Sharif has said 50 new cricket grounds will be would be developed in Lahore while separate grounds would be reserved for women. He directed Commissioner Lahore to identify locations for 50 new cricket grounds in Lahore in con
Published 26 Apr, 2011 12:00am
Pakistani female players not to wear skirts: PBF

Pakistani female players not to wear skirts: PBF

Pakistan Badminton Federation has said that its female players will not adopt the new regulations of dress introduced by Badminton World Federation to wear shirts as it is contrary to the principles of their religion.
Published 26 Apr, 2011 12:00am
Bank AL Habib offers various free facilities

Bank AL Habib offers various free facilities

Bank AL Habib Current Plus Account aims to meet all individual and business needs by offering various free facilities to its customers such as pay orders, online banking, ATM/Debit Card, personalised cheque book and internet banking on maintenance of a mi
Published 26 Apr, 2011 12:00am
JS Value Fund Limited approves interim cash dividend of five percent

JS Value Fund Limited approves interim cash dividend of five percent

The Board of Directors of JS Value Fund Limited, (a closed-end equity fund) has approved interim cash dividend of 5%, ie Re. 0.50 per share. In addition, JS Value Fund Limited reported a net income of over Rs 281 million for the nine months ended March 31
Published 26 Apr, 2011 12:00am
JS Value Fund Limited approves interim cash dividend of five percent

JS Value Fund Limited approves interim cash dividend of five percent

The Board of Directors of JS Value Fund Limited, (a closed-end equity fund) has approved interim cash dividend of 5%, ie Re. 0.50 per share. In addition, JS Value Fund Limited reported a net income of over Rs 281 million for the nine months ended March 31
Published 26 Apr, 2011 12:00am
Corrigendum

Corrigendum

This refers to the news item published in Business Recorder on April 25, 2011 titled "FBR likely to raise salaried sector tax to 25 percent". In the details this news item has been attributed to the proposals given by the Institute of Chartered Acc
Published 26 Apr, 2011 12:00am
Death condoled

Death condoled

The monthly editorial meeting of Business Recorder, held under the chairmanship of Editor Wamiq A Zuberi on Monday, condoled the death of senior editorial staff member Rais Ahmed Khan, who passed away here about two weeks ago.
Published 26 Apr, 2011 12:00am
Secretary MoC, KCCI discuss MFN status to India

Secretary MoC, KCCI discuss MFN status to India

A meeting held here on Monday between Federal Commerce Secretary, Zafar Mahmood and office bearers of the Karachi Chamber of Commerce and Industry (KCCI) discussed in detail the issue of granting Most Favoured Nation (MFN) status to India. The secretary w
Published 26 Apr, 2011 12:00am
Business community to oppose new taxes

Business community to oppose new taxes

Business Community will oppose any move in 2011-12 budget to impose new taxes or increase in taxes on sectors already paying taxes. Federal Finance Minister, Hafiz Sheikh has called a meeting of trade and industrial representatives in Islamabad to discuss
Published 26 Apr, 2011 12:00am
General Kayani's Balochistan package termed 'insufficient'

General Kayani's Balochistan package termed 'insufficient'

Jamiat Ulema-e-Islam (F) Sindh chapter on Monday termed General Kayani's Balochistan relief package as "insufficient and incomplete" which they said cannot redress the long-standing problems of the province. "It is merely an announcement for the people of
Published 26 Apr, 2011 12:00am
Financial services: Ufone, UBL join hands to provide easy access

Financial services: Ufone, UBL join hands to provide easy access

UBL and Ufone joined hands to bring easy access to financial services to their common customers. Ufone, one of the leading telecom operators in Pakistan offers Mobile Financial Services under the name of UPayments. This is USSD based secure session servic
Published 26 Apr, 2011 12:00am
Shifting borrowing needs to commercial banks

Shifting borrowing needs to commercial banks

The auction of treasury bills conducted by the State Bank on 20th April says a lot about the fiscal imperatives of the government and the credit behaviour of the commercial banks. The eagerness of the banks for investment in the government paper was so in
Published 26 Apr, 2011 12:00am
Imran Khan's 'dharna'

Imran Khan's 'dharna'

Imran Khan's two-day sit-in ('dharna') in Peshawar over the weekend blocking the Nato supplies to Afghanistan is a fairly big media event, and so is its symbolic value in terms of people's annoyance with drone strikes that the CIA refuses to halt. But the
Published 26 Apr, 2011 12:00am
Bank lending needs refocusing

Bank lending needs refocusing

Banks form the backbone of any economy as long as they stay committed to channelling savings into sectors that offer the optimal combination of nominal and economic returns. That's why, beginning August 1947 under Governor (late) Zahid Hussain, the SBP fo
Published 26 Apr, 2011 12:00am
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