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Archive - 2011-05-11
New water leaks at Japan nuclear plant
Top News

New water leaks at Japan nuclear plant

TOKYO: The operator of Japan's stricken Fukushima nuclear plant reported new problems Thursday, including a water leak f
Published 11 May, 2011 07:00pm
Oil prices rebound in Asia
Top News

Oil prices rebound in Asia

SINGAPORE: Oil prices rebounded in Asian trade Thursday after plunging overnight on signs of faltering demand in the Uni
Published 11 May, 2011 07:00pm
Obama approval hits 60pc
Top News

Obama approval hits 60pc

WASHINGTON: President Barack Obama's approval rating has hit its highest point in two years 60 percent and more than hal
Published 11 May, 2011 05:26pm
Libya rebels seize Misrata airport
Top News

Libya rebels seize Misrata airport

TRIPOLI: Libyan rebels were reported to have taken control of Misrata airport on Wednesday after heavy fighting with for
Published 11 May, 2011 05:16pm
Gold surges to Rs41,785
Markets

Gold surges to Rs41,785

KARACHI: Gold surged by Rs 214 to Rs 41,785 per 10 grams in local bullion market Wednesday, as its international price a
Published 11 May, 2011 02:26pm
Trade deficit narrows 1.94pc
Top News

Trade deficit narrows 1.94pc

ISLAMABAD: Country's trade deficit witnessed negative growth of 1.94 percent during the first ten months of the current
Published 11 May, 2011 02:20pm
US stocks open lower
Financial

US stocks open lower

NEW YORK: US stocks opened lower Wednesday after three days of solid gains, with falling oil prices hitting energy share
Published 11 May, 2011 01:53pm
Sterling rises to 6-week high
Financial

Sterling rises to 6-week high

LONDON: Sterling rose to a 6-week high against the euro on Wednesday, extending gains after a hawkish inflation report f
Published 11 May, 2011 01:19pm
British official trade deficit widens
Top News

British official trade deficit widens

LONDON: Britain's trade deficit grew by more than expected in March, official data showed on Wednesday. The deficit the
Published 11 May, 2011 10:27am
SBP mops up Rs6bn through OMO
Top News

SBP mops up Rs6bn through OMO

KARACHI: State Bank of Pakistan (SBP) conducted Open Market Operation (OMO) here on Wednesday in Market Treasury Bills a
Published 11 May, 2011 09:43am
US, China laud deal on economic ties
Top News

US, China laud deal on economic ties

WASHINGTON: The United States and China inked a broad economic framework Tuesday, one the authors hope will guide often
Published 11 May, 2011 08:21am
Euro lower after China data
Financial

Euro lower after China data

TOKYO: The euro eased against the dollar and yen in Asia Wednesday following mixed data from China that kept alive conce
Published 11 May, 2011 08:04am
Hitachi logs record net profit
Top News

Hitachi logs record net profit

TOKYO: Japanese high-tech firm Hitachi said Wednesday it returned to the black in the year to March on robust electronic
Published 11 May, 2011 07:17am
Less knowledge can be dangerous
BR Research

Less knowledge can be dangerous

With the market at large unaware about characteristics of cotton futures contracts and functions and scope of commodity futures exchanges, t
Published 11 May, 2011 12:00am
A strategic shift of standpoints
BR Research

A strategic shift of standpoints

What local and international media sources are calling a scathing indictment of Pakistans economic management team may be a call for Pakista
Published 11 May, 2011 12:00am
Index gains 79.34 points

Index gains 79.34 points

Karachi share market on Tuesday witnessed positive trend and KSE-100 index crossed 12,000 points mark with surge of 79.34 points, closing at 12,012.02 points from 11,932.68 points. The market move in green zone and KSE-100 index hit intra-day high of 12,0
Published 11 May, 2011 12:00am
BRIndex30 up 7.52 points

BRIndex30 up 7.52 points

On Tuesday, the BRIndex30 opened at 8,653.98 points and fluctuated throughout the trading session. It touched the intra-day high of 8,679.33 7.52 points and low of 8,641.75 points and closed at 8,661.50 points with a net positive change of 7.52 points, or
Published 11 May, 2011 12:00am
BRIndex30 up 7.52 points

BRIndex30 up 7.52 points

On Tuesday, the BRIndex30 opened at 8,653.98 points and fluctuated throughout the trading session. It touched the intra-day high of 8,679.33 7.52 points and low of 8,641.75 points and closed at 8,661.50 points with a net positive change of 7.52 points, or
Published 11 May, 2011 12:00am
Mixed sentiments prevail on LSE

Mixed sentiments prevail on LSE

Mixed sentiments prevailed at the Lahore Stock Exchange (LSE) where equities closed on a positive note amid declining transaction volume on Tuesday. The LSE-25 index further moved up to 3229.35 points against 3221.89 points of Monday, showing an increment
Published 11 May, 2011 12:00am
Mixed sentiments prevail on LSE

Mixed sentiments prevail on LSE

Mixed sentiments prevailed at the Lahore Stock Exchange (LSE) where equities closed on a positive note amid declining transaction volume on Tuesday. The LSE-25 index further moved up to 3229.35 points against 3221.89 points of Monday, showing an increment
Published 11 May, 2011 12:00am
ISE index gains 20.82 points

ISE index gains 20.82 points

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 20.82 points, as the Index moved from 2,675.82 to 2,696.
Published 11 May, 2011 12:00am
ISE index gains 20.82 points

ISE index gains 20.82 points

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 20.82 points, as the Index moved from 2,675.82 to 2,696.
Published 11 May, 2011 12:00am
Journalist killed in bomb attack

Journalist killed in bomb attack

A journalist on the hit list of a feared militant leader was killed by a remote-controlled bomb planted in his car late Tuesday, officials said. Nasrullah Afridi, 38, who had been working for state-run Pakistan Television and several newspapers in the Khy
Published 11 May, 2011 12:00am
Journalist killed in bomb attack

Journalist killed in bomb attack

A journalist on the hit list of a feared militant leader was killed by a remote-controlled bomb planted in his car late Tuesday, officials said. Nasrullah Afridi, 38, who had been working for state-run Pakistan Television and several newspapers in the Khy
Published 11 May, 2011 12:00am
WikiLeaks' Assange gets Australian peace prize

WikiLeaks' Assange gets Australian peace prize

WikiLeaks' Australian founder Julian Assange, who enraged Washington by publishing thousands of secret US diplomatic cables, was given a peace award on Tuesday for "exceptional courage in pursuit of human rights". Assange was awarded the Sydney Peace Foun
Published 11 May, 2011 12:00am
WikiLeaks' Assange gets Australian peace prize

WikiLeaks' Assange gets Australian peace prize

WikiLeaks' Australian founder Julian Assange, who enraged Washington by publishing thousands of secret US diplomatic cables, was given a peace award on Tuesday for "exceptional courage in pursuit of human rights". Assange was awarded the Sydney Peace Foun
Published 11 May, 2011 12:00am
Acid Control, Acid Crime Prevention Bill passed

Acid Control, Acid Crime Prevention Bill passed

The National Assembly Tuesday unanimously passed 'The Acid Control and Acid Crime Prevention Bill, 2010' targeted to curbing the crime of throwing acid on women. The Bill was tabled in the Lower House of the Parliament on a private members day by MNA Marv
Published 11 May, 2011 12:00am
Acid Control, Acid Crime Prevention Bill passed

Acid Control, Acid Crime Prevention Bill passed

The National Assembly Tuesday unanimously passed 'The Acid Control and Acid Crime Prevention Bill, 2010' targeted to curbing the crime of throwing acid on women. The Bill was tabled in the Lower House of the Parliament on a private members day by MNA Marv
Published 11 May, 2011 12:00am
Pakistan upbeat about getting $500 million under CSF

Pakistan upbeat about getting $500 million under CSF

Pakistan is still hopeful of receiving $500 million under the Coalition Support Fund (CSF) till June 2011 while the amount received under Kerry Lugar package stands at $300 million. Well-placed sources told Business Recorder here on Tuesday that Pa
Published 11 May, 2011 12:00am
Pakistan upbeat about getting $500 million under CSF

Pakistan upbeat about getting $500 million under CSF

Pakistan is still hopeful of receiving $500 million under the Coalition Support Fund (CSF) till June 2011 while the amount received under Kerry Lugar package stands at $300 million. Well-placed sources told Business Recorder here on Tuesday that Pa
Published 11 May, 2011 12:00am
Pakistan upbeat about getting $500 million under CSF

Pakistan upbeat about getting $500 million under CSF

Pakistan is still hopeful of receiving $500 million under the Coalition Support Fund (CSF) till June 2011 while the amount received under Kerry Lugar package stands at $300 million. Well-placed sources told Business Recorder here on Tuesday that Pa
Published 11 May, 2011 12:00am
Cheaper Pakistani wheat to dent Australia's export prospects

Cheaper Pakistani wheat to dent Australia's export prospects

Australian wheat exports are set to face stiffer competition as Pakistan, which resumed exports after three years, pours grain from its new crop into the market and offers competitive prices to millers in Asia, the Middle East and Africa.
Published 11 May, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.
Published 11 May, 2011 12:00am
Cheaper Pakistani wheat to dent Australia's export prospects

Cheaper Pakistani wheat to dent Australia's export prospects

Australian wheat exports are set to face stiffer competition as Pakistan, which resumed exports after three years, pours grain from its new crop into the market and offers competitive prices to millers in Asia, the Middle East and Africa.
Published 11 May, 2011 12:00am
Cheaper Pakistani wheat to dent Australia''s export prospects

Cheaper Pakistani wheat to dent Australia''s export prospects

Australian wheat exports are set to face stiffer competition as Pakistan, which resumed exports after three years, pours grain from its new crop into the market and offers competitive prices to millers in Asia, the Middle East and Africa.
Published 11 May, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.
Published 11 May, 2011 12:00am
April trade deficit narrows to $870 million

April trade deficit narrows to $870 million

Pakistan's trade deficit narrowed to $870 million in April from $1.3 billion a year earlier, the Federal Bureau of Statistics said on Tuesday. The trade deficit was $920 million in March. Exports increased to $2.3 billion in April, from $1.70 billion a ye
Published 11 May, 2011 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.
Published 11 May, 2011 12:00am
April trade deficit narrows to $870 million

April trade deficit narrows to $870 million

Pakistan's trade deficit narrowed to $870 million in April from $1.3 billion a year earlier, the Federal Bureau of Statistics said on Tuesday. The trade deficit was $920 million in March. Exports increased to $2.3 billion in April, from $1.70 billion a ye
Published 11 May, 2011 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.
Published 11 May, 2011 12:00am
April trade deficit narrows to $870 million

April trade deficit narrows to $870 million

Pakistan''s trade deficit narrowed to $870 million in April from $1.3 billion a year earlier, the Federal Bureau of Statistics said on Tuesday. The trade deficit was $920 million in March. Exports increased to $2.3 billion in April, from $1.70 billion a y
Published 11 May, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.
Published 11 May, 2011 12:00am
Deal on LPG and LNG likely: Zardari embarks on Russia visit today

Deal on LPG and LNG likely: Zardari embarks on Russia visit today

A deal on LPG and LNG is likely to be signed during the scheduled visit of President Asif Ali Zardari to Russia commencing May 11 (today). Well-informed sources said the deal might be struck subsequent to meetings between the visiting Pakistani delegation
Published 11 May, 2011 12:00am
Deal on LPG and LNG likely: Zardari embarks on Russia visit today

Deal on LPG and LNG likely: Zardari embarks on Russia visit today

A deal on LPG and LNG is likely to be signed during the scheduled visit of President Asif Ali Zardari to Russia commencing May 11 (today). Well-informed sources said the deal might be struck subsequent to meetings between the visiting Pakistani delegation
Published 11 May, 2011 12:00am
Deal on LPG and LNG likely: Zardari embarks on Russia visit today

Deal on LPG and LNG likely: Zardari embarks on Russia visit today

A deal on LPG and LNG is likely to be signed during the scheduled visit of President Asif Ali Zardari to Russia commencing May 11 (today). Well-informed sources said the deal might be struck subsequent to meetings between the visiting Pakistani delegation
Published 11 May, 2011 12:00am
April remittances once again cross $1 billion mark

April remittances once again cross $1 billion mark

Overseas Pakistanis once again remitted over $1 billion for the second consecutive month in April, amounting to $1,030.42 million, having sent $1052.90 million in March, 2011.
Published 11 May, 2011 12:00am
April remittances once again cross $1 billion mark

April remittances once again cross $1 billion mark

Overseas Pakistanis once again remitted over $1 billion for the second consecutive month in April, amounting to $1,030.42 million, having sent $1052.90 million in March, 2011.
Published 11 May, 2011 12:00am
April remittances once again cross $1 billion mark

April remittances once again cross $1 billion mark

Overseas Pakistanis once again remitted over $1 billion for the second consecutive month in April, amounting to $1,030.42 million, having sent $1052.90 million in March, 2011.
Published 11 May, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (May 10, 2011).
Published 11 May, 2011 12:00am
Seven suspected militants arrested in Paris: police

Seven suspected militants arrested in Paris: police

French police captured seven suspected Islamist militants in raids in Paris and its suburbs, officials said Tuesday, as France tightened security in the wake of the death of Osama bin Laden. Six suspects were detained on Monday but the main target of the
Published 11 May, 2011 12:00am
Seven suspected militants arrested in Paris: police

Seven suspected militants arrested in Paris: police

French police captured seven suspected Islamist militants in raids in Paris and its suburbs, officials said Tuesday, as France tightened security in the wake of the death of Osama bin Laden. Six suspects were detained on Monday but the main target of the
Published 11 May, 2011 12:00am
Four killed in drone attack

Four killed in drone attack

A US drone strike destroyed a vehicle in tribal belt on Tuesday, killing four militants in the second drone attack since the killing of Osama bin Laden, local officials said. A security official said the drones fired two missiles into South Waziristan. An
Published 11 May, 2011 12:00am
Four killed in drone attack

Four killed in drone attack

A US drone strike destroyed a vehicle in tribal belt on Tuesday, killing four militants in the second drone attack since the killing of Osama bin Laden, local officials said. A security official said the drones fired two missiles into South Waziristan. An
Published 11 May, 2011 12:00am
Emirates annual net profit surges 51.9 percent to $1.5 billion

Emirates annual net profit surges 51.9 percent to $1.5 billion

Emirates airline posted Tuesday a 51.9% surge in annual net profits of 5.4 billion dirhams ($1.5 billion) as it carried four million more passengers than the previous year. "We had a year full of growth and expansion" the head of Dubai's flagship carrier,
Published 11 May, 2011 12:00am
Emirates annual net profit surges 51.9 percent to $1.5 billion

Emirates annual net profit surges 51.9 percent to $1.5 billion

Emirates airline posted Tuesday a 51.9% surge in annual net profits of 5.4 billion dirhams ($1.5 billion) as it carried four million more passengers than the previous year. "We had a year full of growth and expansion" the head of Dubai's flagship carrier,
Published 11 May, 2011 12:00am
Emirates annual net profit surges 51.9 percent to $1.5 billion

Emirates annual net profit surges 51.9 percent to $1.5 billion

Emirates airline posted Tuesday a 51.9% surge in annual net profits of 5.4 billion dirhams ($1.5 billion) as it carried four million more passengers than the previous year. "We had a year full of growth and expansion" the head of Dubai''s flagship carrier
Published 11 May, 2011 12:00am
THE RUPEE: sharp gains all-round

THE RUPEE: sharp gains all-round

All-round gains were seen on the currency market on Tuesday as dollars' supply eased in process of trading, dealers said. The rupee trimmed its losses against dollar, picking up 46 paisa for buying and selling at 84.69 and 84.74 In the second Asian trade
Published 11 May, 2011 12:00am
Emirates annual net profit surges 51.9 percent to $1.5 billion

Emirates annual net profit surges 51.9 percent to $1.5 billion

Emirates airline posted Tuesday a 51.9% surge in annual net profits of 5.4 billion dirhams ($1.5 billion) as it carried four million more passengers than the previous year. "We had a year full of growth and expansion" the head of Dubai''''s flagship carri
Published 11 May, 2011 12:00am
THE RUPEE: sharp gains all-round

THE RUPEE: sharp gains all-round

All-round gains were seen on the currency market on Tuesday as dollars' supply eased in process of trading, dealers said. The rupee trimmed its losses against dollar, picking up 46 paisa for buying and selling at 84.69 and 84.74 In the second Asian trade
Published 11 May, 2011 12:00am
Gilani vows to continue development schemes

Gilani vows to continue development schemes

Prime Minister Syed Yousuf Raza Gilani on Tuesday reiterated the government's commitment to continue development schemes despite financial crunch. Referring to the Abbotabad operation, he said that non-democratic elements were trying to divert attention o
Published 11 May, 2011 12:00am
PML-N leaders suggest soft stance towards army

PML-N leaders suggest soft stance towards army

Majority of the Pakistan Muslim League-Nawaz's (PML-N) leaders have reportedly suggested not to criticise the country's intelligence agencies and army for the May 2 Abbottabad incident. In a meeting of the party's Central Organising Committee (COC) and pa
Published 11 May, 2011 12:00am
Met office issues ten days weather advisory for farmers

Met office issues ten days weather advisory for farmers

The Meteorological department has issued weather advisory for farmers for next ten days from 11th May to 20th May. During this period the farmers are very busy in the harvest of strategic Rabi crops including wheat, oil seeds, mustards, grams, lentils, et
Published 11 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (May 10, 2011).
Published 11 May, 2011 12:00am
Dawood is not in Pakistan: Malik

Dawood is not in Pakistan: Malik

Interior minister Rehman Malik has denied allegations that Dawood Ibrahim living in Pakistan. "I think, marrying a lady in Pakistan does not give a certificate that Dawood Ibrahim is in Pakistan. But if you have any information we will be happy to have a
Published 11 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (May 10, 2011).
Published 11 May, 2011 12:00am
Pakistani artists' exhibition opens in Singapore

Pakistani artists' exhibition opens in Singapore

Group exhibition of selected artwork of 13 Pakistani artists for charity got underway in a colourful manner in Singapore on Tuesday. According to the reports reaching here from Singapore, the exhibition titled "Artistic Fusions From Pakistan" was inaugura
Published 11 May, 2011 12:00am
Chief Justice observes nation has not accepted ZAB case's verdict

Chief Justice observes nation has not accepted ZAB case's verdict

Chief Justice Iftikhar Muhammad Chaudhry has said that verdict on Zulfiqar Ali Bhutto case has not been accepted by the nation and the same is not being quoted by the lawyers in cases of similar nature. Justice Chaudhry while addressing Babar Awan, govern
Published 11 May, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Tuesday (May 10, 2011).
Published 11 May, 2011 12:00am
Pakistan's economy showing signs of recovery: South Korean envoy

Pakistan's economy showing signs of recovery: South Korean envoy

South Korean Ambassador to Pakistan Choi Choong- Jee on Tuesday said Pakistan's economy was showing signs of recovery that can be accelerated through consistent policies, stability, improved environment and focus on development.
Published 11 May, 2011 12:00am
SCBA to launch 'Pakistan Zindabad Movement'

SCBA to launch 'Pakistan Zindabad Movement'

Secretary Supreme Court Bar Association Qamaruz Zaman Qureshi has announced to launch "Pakistan Zindabad movement" to create awareness about nationalism among masses. Addressing a press conference here on Tuesday at Supreme Court building, he said after O
Published 11 May, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (May 10, 2011).
Published 11 May, 2011 12:00am
Habeas corpus petition: LHC seeks assistance of DAG

Habeas corpus petition: LHC seeks assistance of DAG

The Lahore High Court here Tuesday sought assistance of a deputy attorney general and additional advocate general in a habeas corpus petition on May 18 for knowing whereabouts of alleged missing families of Faizan and Faheem, who were killed by Raymond Da
Published 11 May, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Tuesday (May 10, 2011) and for Wednesday (May 11, 2011).
Published 11 May, 2011 12:00am
US Operation in Abbottabad: LHC postpones hearing of petition

US Operation in Abbottabad: LHC postpones hearing of petition

The Lahore High Court on Tuesday postponed for indefinite period the hearing of a petition against the United States's operation for killing al Qaeda leader Osama Bin Laden in Abbottabad as the matter was already pending before the Supreme Court. A bar me
Published 11 May, 2011 12:00am
LME official prices

LME official prices

The following were Monday official prices.
Published 11 May, 2011 12:00am
Parliamentarians offer Fateha for Osama

Parliamentarians offer Fateha for Osama

A small number of Parliamentarians on Tuesday offered Fateha for slain Osama bin Laden in the National Assembly without permission of the Chair. An independent candidate from NA-264 who had won a seat on Jamiat Ulema-e-Islam (JUI-F) ticket Maulvi Asmatull
Published 11 May, 2011 12:00am
LME official prices

LME official prices

The following were Monday official prices.
Published 11 May, 2011 12:00am
'FGEHF asked to complete G-14 sector uplift work'

'FGEHF asked to complete G-14 sector uplift work'

Federal Minister for Housing and works Makhdoum Syed Faisal Saleh Hayat has directed the Federal Government Employees Housing Foundation (FGEHF) to complete the development work in G-14 sector without any further delay so that allottees could start constr
Published 11 May, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (May 10, 2011).
Published 11 May, 2011 12:00am
Iranian envoy meets Hina Khar

Iranian envoy meets Hina Khar

Ambassador of Iran to Pakistan Mashallah Shakeri on Tuesday called on Minister of State for Foreign Affairs Ms Hina Rabbani Khar here at her Chamber in the Parliament House and reviewed the entire range of bilateral relations. Talking to him, the Minister
Published 11 May, 2011 12:00am
The Weather

The Weather

The weather report on Tuesday (May 10, 2011) and the forecast for Wednesday (May 11, 2011).
Published 11 May, 2011 12:00am
Speakers condemn US aggression

Speakers condemn US aggression

Speakers at the PINA seminar on 'Abbottabad Operation and Challenges to National Security' held in Lahore, strongly condemned the US aggression and impressed on the saner elements in Obama Administration to respect Pakistan's sovereignty and desist from a
Published 11 May, 2011 12:00am
Transfer of investigation officers of NICL, Haj scams

Transfer of investigation officers of NICL, Haj scams

Director General, Federal Investigation Agency (FIA), Malik Iqbal, was put on contempt of court notice by Supreme Court on Tuesday, for transferring two FIA officials who were investigating NICL and Haj scams, as the court termed the transfers as tantamou
Published 11 May, 2011 12:00am
Anti-polio campaign begins

Anti-polio campaign begins

A three-day nation-wide polio eradication campaign continued on Tuesday to administer anti-polio drops to children under age of five years. According to an official of Ministry of Health, special arrangements have been made to reach over 33 million childr
Published 11 May, 2011 12:00am
Legal experts seek clarification on blanket exemption

Legal experts seek clarification on blanket exemption

Legal experts have sought clarification whether blanket exemption has been announced through amnesty scheme vide SRO.333(I)/2011 to the amounts credited in the books of accounts maintained up to June 30, 2011, by the sellers suppliers, service providers t
Published 11 May, 2011 12:00am
Budget proposals: SOP to deal with frivolous cases be issued

Budget proposals: SOP to deal with frivolous cases be issued

There is a budget proposal to issue standard operating procedure (SOP) for the tax department to effectively deal with the frivolous cases made due to failure of the Federal Board of Revenue (FBR) web-portal to cross-match input tax data with the output t
Published 11 May, 2011 12:00am
Budget proposals: SOP to deal with frivolous cases be issued

Budget proposals: SOP to deal with frivolous cases be issued

There is a budget proposal to issue standard operating procedure (SOP) for the tax department to effectively deal with the frivolous cases made due to failure of the Federal Board of Revenue (FBR) web-portal to cross-match input tax data with the output t
Published 11 May, 2011 12:00am
LSE approves listing of HBL Funds

LSE approves listing of HBL Funds

Lahore Stock Exchange (G) Limited has approved the applications for formal listing and quotation of the Units of HBL-Islamic Money Market Fund and HBL-Islamic Stock Fund (Open end Funds managed by HBL Asset Management Limited). The Funds will be quoted un
Published 11 May, 2011 12:00am
LSE approves listing of HBL Funds

LSE approves listing of HBL Funds

Lahore Stock Exchange (G) Limited has approved the applications for formal listing and quotation of the Units of HBL-Islamic Money Market Fund and HBL-Islamic Stock Fund (Open end Funds managed by HBL Asset Management Limited). The Funds will be quoted un
Published 11 May, 2011 12:00am
Six killed as tribes clash over water issue

Six killed as tribes clash over water issue

At least six persons were killed in firing when two tribes clashed in Mirpur Bathoro, 40 km off on Tuesday morning. The dead and injured were shifted in rescue ambulances to Makli Civil Hospital. According to hospital sources and relatives of the victims,
Published 11 May, 2011 12:00am
Millions being spent on PML-Q ministers' offices renovation

Millions being spent on PML-Q ministers' offices renovation

Federal ministries are spending millions of rupees, out of their development budgets, on purchase of furniture and other fixtures for the offices of newly inducted cabinet ministers affiliated with Pakistan Muslim League (Q) in violation of the government
Published 11 May, 2011 12:00am
Bank looted in I-9 Markaz

Bank looted in I-9 Markaz

Four armed persons on Tuesday looted Rs 1.4 million from Al-Falah Bank situated at I-9 Markaz, a police spokesman said. He said that four persons brandishing pistols in their hands entered in Al-Falah bank, made all the staff hostage at gun point and lock
Published 11 May, 2011 12:00am
'Positive outcome to come from Pak-India talks'

'Positive outcome to come from Pak-India talks'

Minister of State for Foreign Affairs Ms Hina Rabbani Khar Tuesday hoped that positive outcome would come from Pakistan and India dialogue to be started from Wednesday. Talking to media outside the Parliament House, she said Pakistan and India are serious
Published 11 May, 2011 12:00am
FBR proposes substantial raise in FED on cigarettes

FBR proposes substantial raise in FED on cigarettes

The Federal Board of Revenue (FBR) has proposed substantial enhancement in incidence of federal excise duty (FED) on different brands of cigarettes to generate additional revenue from luxury items from 2011-12 budget. Sources told Business Recorder </i
Published 11 May, 2011 12:00am
SBP urged to provide payment gateway facilities to Pakistan IT companies

SBP urged to provide payment gateway facilities to Pakistan IT companies

The Centre for International Private Enterprise (CIPE) and Pakistan Software Houses Association (P@SHA) strongly recommended the State Bank of Pakistan to provide payment gateway facilities to Pakistani IT companies to increase the current size of this se
Published 11 May, 2011 12:00am
SBP urged to provide payment gateway facilities to Pakistan IT companies

SBP urged to provide payment gateway facilities to Pakistan IT companies

The Centre for International Private Enterprise (CIPE) and Pakistan Software Houses Association (P@SHA) strongly recommended the State Bank of Pakistan to provide payment gateway facilities to Pakistani IT companies to increase the current size of this se
Published 11 May, 2011 12:00am
EAD wants Cabinet to ratify French loan deal

EAD wants Cabinet to ratify French loan deal

The Economic Affairs Division (EAD) has reportedly approached the federal cabinet for ratification of a loan agreement with French Development Agency, after passage of 10 months time, sources told Business Recorder here on Tuesday.
Published 11 May, 2011 12:00am
PAC for sealing Afghan border to control drug smuggling

PAC for sealing Afghan border to control drug smuggling

Public Accounts Committee (PAC) has stressed the need for a complete check on poppy cultivation and drug trafficking, terming the drug money as the main source of terrorism. The Committee was reviewing the report of the Ministry of Narcotics Control, in i
Published 11 May, 2011 12:00am
Three MQM MPs sworn-in as ministers

Three MQM MPs sworn-in as ministers

President Asif Ali Zardari on Tuesday administered oath to three Muttahida Qaumi Movement MPs as ministers and minister of state, at a ceremony held at the Aiwan-e-Sadr. Dr Farooq Sattar and Senator Babar Khan Ghauri took oath as federal ministers while D
Published 11 May, 2011 12:00am
Tax evasion of Rs 117.38 million: PaCCS books 35 persons

Tax evasion of Rs 117.38 million: PaCCS books 35 persons

The Customs Collectorate of Pakistan Customs Computerised System (PaCCS), Karachi has booked 35 persons for evasion of duty and taxes worth Rs 117.38 million in 10 separate cases since February 2011, says a press release issued here on Tuesday.
Published 11 May, 2011 12:00am
Concerns voiced over wheat procurement policy

Concerns voiced over wheat procurement policy

Wheat growers have expressed their reservations on the procurement policy of the provincial government and alleged that it is causing irreparable loss to small farmers. The views were expressed by a representative delegation of farmers from Kasur, Sheikhu
Published 11 May, 2011 12:00am
Gilani to visit China next week

Gilani to visit China next week

Prime Minister Yousuf Raza Gilani is to visit China next week as Islamabad sinks deeper into a domestic and international crisis over the US killing of Osama bin Laden on its territory. Gilani will begin the four-day visit on May 17 and hold talks with Ch
Published 11 May, 2011 12:00am
Sindh Assembly passes resolution against sheesha smoking

Sindh Assembly passes resolution against sheesha smoking

Sindh Assembly on Tuesday unanimously passed a resolution to ban sheesha smoking in hotels, restaurants and other public places across the province, which the legislators saw as a dangerous trend, fast spreading among the youth and teenagers. On the priva
Published 11 May, 2011 12:00am
Proposal to impose wealth tax in budget opposed

Proposal to impose wealth tax in budget opposed

The Chairman, Towel Manufacturers Association of Pakistan (TMA), Syed Usman Ali has opposed the government move to impose wealth tax in the budget 2011-12. In a statement Usman Ali and former Chairmen, Feroze Alam Lari and Muzammil Husain said that the we
Published 11 May, 2011 12:00am
Nokia launches 'Mobile Phone Take Back'

Nokia launches 'Mobile Phone Take Back'

Nokia recently kicked-off a two-month long Mobile Phone Take Back and Recycling Campaign in collaboration with Ufone, Unilever, Radio FM 91, ACY Music, Orient Advertising and United Media. All the companies involved in the campaign joined hands to improve
Published 11 May, 2011 12:00am
Sri Lanka Army Chief visits Lahore

Sri Lanka Army Chief visits Lahore

Major General R M D Ratanayake, Chief of Staff Sri Lankan Army along with an official delegation visited the provincial metropolis on the second leg of his official tour of Pakistan. He started his day with a visit to the Corps Headquarters, where he met
Published 11 May, 2011 12:00am
Fresh strike call: LHC issues notices to Punjab government, YDA

Fresh strike call: LHC issues notices to Punjab government, YDA

Lahore High Court here on Tuesday issued notices to Punjab government, the Young Doctors Association and others for May 31 in a petition seeking directions for action against doctors who have announced fresh strike in the hospitals from May 12.
Published 11 May, 2011 12:00am
ITP and CDA hold meeting

ITP and CDA hold meeting

Senior Superintendent of Police (Traffic) Dr Moeen Masood has said that Islamabad Traffic Police with the active support of Capital Development Authority (CDA) will ensure traffic discipline through effective road engineering.
Published 11 May, 2011 12:00am
Ban on split leather export demanded

Ban on split leather export demanded

The Chairman of Pakistan Gloves Manufacturers and Exporters Association (PGMEA), Muhammad Younas has demanded imposition of ban immediately on export of 'blue split leather' to save the gloves industry from total collapse. Addressing a press conference he
Published 11 May, 2011 12:00am
Khyber Pakhtunkhwa government to construct auditorium for artists

Khyber Pakhtunkhwa government to construct auditorium for artists

Khyber Pakhtunkhwa Minister for Information and Culture, Mian Iftikhar Hussein has said that a modern and state of the art auditorium and a hall on the pattern of Nishtar Hall, having double seating capacity and modern facilities, would be constructed in
Published 11 May, 2011 12:00am
Pay package for young doctors felicitated

Pay package for young doctors felicitated

Young Doctors Association Pakistan has welcomed the announcement of the pay package by Punjab government and declared it as an immediate relief to the doctors' community by Punjab government.
Published 11 May, 2011 12:00am
Two including lady constable killed in blast

Two including lady constable killed in blast

Two persons including a lady police constable were killed and nine other injured in a bomb explosion outside the entrance of the district courts in Nowshera. The lady police constable has been identified as Shazia while the name of the second victim could
Published 11 May, 2011 12:00am
Defaulting companies: SECP passes 34 orders in April

Defaulting companies: SECP passes 34 orders in April

As part of its enforcement and regulatory function, the Securities and Exchange Commission of Pakistan (SECP) passed 34 orders in April, fining defaulting listed and unlisted companies. In order to safeguard the interests of investors and stakeholders and
Published 11 May, 2011 12:00am
Fesco installations: steps being taken to curb theft incidents

Fesco installations: steps being taken to curb theft incidents

Regional Police Officer (RPO), Aftab Ahmed Cheema and Chief Executive Officer(CEO), Fesco have decided to take strict action against the elements involved in theft of Fesco installations. In this connection, RPO has issued directives to the District Polic
Published 11 May, 2011 12:00am
MBBS failed students case: LHC allows to appear in supplementary exams

MBBS failed students case: LHC allows to appear in supplementary exams

The Lahore High Court here on Tuesday allowing unsuccessful MBBS students to appear in supplementary examinations, directed University of Health Sciences (UHS) to entertain their forms on regular fee. The court adjourned the hearing of the petitions to Ju
Published 11 May, 2011 12:00am
Malik lauds police role in war against terror

Malik lauds police role in war against terror

Federal Minister for Interior, Rehman Malik has said that Islamabad Police along with other Law Enforcement Agencies (LEA) have played courageous role in defeating terrorists, giving complete peace to people living in Federal Capital.
Published 11 May, 2011 12:00am
Power shortfall stands around 3,000 megawatts

Power shortfall stands around 3,000 megawatts

Power shortfall stood around 3,000MW despite constant improvement on the power generation front, showing rising demand with substantial rise in mercury. Power generation during last 24 hours remained 12,860MW against a demand of 15,750MW, showing a differ
Published 11 May, 2011 12:00am
Cotton futures trading at PMEX: KCA demands probe against SECP approval

Cotton futures trading at PMEX: KCA demands probe against SECP approval

The Karachi Cotton Association has noted with great consternation that the SECP has granted approval to Pakistan Mercantile Exchange Limited (PMEX) for introduction futures trading in cotton. It would be pertinent to point out that hedge trading in cotton
Published 11 May, 2011 12:00am
Zafar Hilali visits Wise House'

Zafar Hilali visits Wise House'

Agha Zafar Hilali, former ambassador of Pakistan in Italy visited 'Wise House' of Wise Communication Systems (Pvt) Ltd, said a press release received here on Tuesday. The former ambassador was briefed about communication development in the country and cur
Published 11 May, 2011 12:00am
AGP takes notice of incorrect data of employees

AGP takes notice of incorrect data of employees

Accountant General Punjab, Muhammad Jamil Bhatti reviews performance of Drawing and Disbursing Officers (DDOs) of all provincial departments regarding correction of basic data of employees working under their administrative control. As per instructions, c
Published 11 May, 2011 12:00am
Power crisis: LHC issues notices to government, Wapda chief

Power crisis: LHC issues notices to government, Wapda chief

The Lahore High Court here Tuesday issued notices to federal government and Wapda chairman in a petition seeking directions for federal government to disclose all under construction projects aimed at ending power crisis. A bar member Rana Ilamudin Ghazi f
Published 11 May, 2011 12:00am
PESCO to be made consumer-friendly company

PESCO to be made consumer-friendly company

The Board of Directors (BoD) directed to make Peshawar Electricity Supply Company (PESCO) a consumer friendly company by addressing the complaints of consumers and building up image of the company. The directives were issued in the 58th meeting of the BoD
Published 11 May, 2011 12:00am
FAP rejects imposition of GST on agricultural inputs

FAP rejects imposition of GST on agricultural inputs

Farmers Associates Pakistan (FAP) has rejected the imposition of General Sales Tax (GST) on pesticides, tractors, fertilisers and other agricultural inputs. FAP expressed its views through a unanimously adopted resolution at the 118th extraordinary genera
Published 11 May, 2011 12:00am
Deliberations with the IMF

Deliberations with the IMF

An International Monetary Fund (IMF) team, scheduled to visit Pakistan in the first week of this month, has postponed the visit due to an escalation in security concerns in the aftermath of the killing of Osama bin Laden. Be that as it may, the scheduled
Published 11 May, 2011 12:00am
Local government system

Local government system

In a much welcome development, the PPP-led government in Sindh has finally reached an understanding with the MQM to keep the local government system, and not to revert to the old commissionerate system. The other three provinces though have already decide
Published 11 May, 2011 12:00am
Vacation woes in Sindh

Vacation woes in Sindh

The Steering Committee of Sindh Education Department has decided to delay the summer vacations by a month to July/August, as announced by provincial Minister for Education and Literacy, Sindh, Pir Mazharul Haq. The decision has been reportedly taken after
Published 11 May, 2011 12:00am
Foreign reserves

Foreign reserves

At the end of April State Bank of Pakistan (SBP) announced that Pakistan's foreign currency reserves were around $17 billion. Given the slow economy, the dip in imports, and the healthy flow of foreign remittance, the reserves look very impressive and hea
Published 11 May, 2011 12:00am
Industrial cooperation with Russia

Industrial cooperation with Russia

In a major shift of policy, Pakistan is now looking towards the Russian Federation for industrial and technological co-operation. President Asif Zardari is leaving today for Moscow on the invitation of President Dmitry Medvedev that was extended during la
Published 11 May, 2011 12:00am
The invisible market: fighting poverty with profit

The invisible market: fighting poverty with profit

A stroll through the slums in the Philippine capital Manila or remote Indian villages hardly brings to mind terms like market opportunity or profitability. But it won't take long until tiny mom-and-pop-shops - crammed up to the roof with humble mass produ
Published 11 May, 2011 12:00am
Environmental destruction

Environmental destruction

The Environment Minister Samina Ghurki responding to a query informed the National Assembly recently that the average annual temperature in Pakistan has risen by 0.6 C°. As per a February 2010 report prepared by the Planning Commission's Task Force on Cli
Published 11 May, 2011 12:00am
Capital police arrest 101 suspects

Capital police arrest 101 suspects

Islamabad Police apprehended 101 persons involved in street crimes and dacoities during first four months of the current year and seized six stolen cars, 82 mobile phones and other looted items worth hundreds of thousands of rupees, said a spokesman in Is
Published 11 May, 2011 12:00am
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