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Archive - 2011-05-15
Punjab vows not to take foreign aid
Top News

Punjab vows not to take foreign aid

LAHORE: The Punjab Cabinet has decided not to take foreign aid and the recommendations in this regard will be sent to PM
Published 15 May, 2011 07:00pm
NATO urged to widen campaign
Africa

NATO urged to widen campaign

TRIPOLI: The head of Britain's armed forces urged NATO to widen its bombing campaign as a revolt against Libya's regime
Published 15 May, 2011 11:19am
Gilani meets Zardari

Gilani meets Zardari

Prime Minister Syed Yousuf Raza Gilani called on President Asif Ali Zardari at Aiwan-e-Sadr on Saturday. The prime minister briefed the President about the in-camera briefing on Abbottabad incident.
Published 15 May, 2011 12:00am
US national held on charges of 'espionage'

US national held on charges of 'espionage'

Law enforcement agencies on Saturday nabbed a US national on charges of 'espionage', after he was found roaming around sensitive defence installations in the outskirts of the Capital, intelligence sources told BR. The detained US national has been identif
Published 15 May, 2011 12:00am
US national held on charges of 'espionage'

US national held on charges of 'espionage'

Law enforcement agencies on Saturday nabbed a US national on charges of 'espionage', after he was found roaming around sensitive defence installations in the outskirts of the Capital, intelligence sources told BR. The detained US national has been identif
Published 15 May, 2011 12:00am
Kuwait likely to provide diesel on two-month credit

Kuwait likely to provide diesel on two-month credit

Kuwait is said to have agreed to give 0.2 million tons of diesel monthly to Pakistan on two months credit for an indefinite period, official sources told Business Recorder. The source said this understanding was reached between Pakistan and Kuwait
Published 15 May, 2011 12:00am
Kuwait likely to provide diesel on two-month credit

Kuwait likely to provide diesel on two-month credit

Kuwait is said to have agreed to give 0.2 million tons of diesel monthly to Pakistan on two months credit for an indefinite period, official sources told Business Recorder. The source said this understanding was reached between Pakistan and Kuwait
Published 15 May, 2011 12:00am
Kuwait likely to provide diesel on two-month credit

Kuwait likely to provide diesel on two-month credit

Kuwait is said to have agreed to give 0.2 million tons of diesel monthly to Pakistan on two months credit for an indefinite period, official sources told Business Recorder. The source said this understanding was reached between Pakistan and Kuwait
Published 15 May, 2011 12:00am
FBR draws new policy on transfers, postings

FBR draws new policy on transfers, postings

The Federal Board of Revenue (FBR) has chalked out a new policy for the transfers and postings of tax officials (Grade-17 and above) belonging to Inland Revenue Services (IRS) and Pakistan Customs Services (PCS) under which input of FBR line members would
Published 15 May, 2011 12:00am
FBR draws new policy on transfers, postings

FBR draws new policy on transfers, postings

The Federal Board of Revenue (FBR) has chalked out a new policy for the transfers and postings of tax officials (Grade-17 and above) belonging to Inland Revenue Services (IRS) and Pakistan Customs Services (PCS) under which input of FBR line members would
Published 15 May, 2011 12:00am
FBR draws new policy on transfers, postings

FBR draws new policy on transfers, postings

The Federal Board of Revenue (FBR) has chalked out a new policy for the transfers and postings of tax officials (Grade-17 and above) belonging to Inland Revenue Services (IRS) and Pakistan Customs Services (PCS) under which input of FBR line members would
Published 15 May, 2011 12:00am
PaCCS does not clear Nato, ISAF containers

PaCCS does not clear Nato, ISAF containers

The Pakistan Automated Customs Computerised System (PaCCS) does not clear Nato and International Security Assistance Force (ISAF) containers and cargo, which is commercial in nature, because of Pak-Afghan Transit Trade Agreement of 1965, as it requires ma
Published 15 May, 2011 12:00am
PaCCS does not clear Nato, ISAF containers

PaCCS does not clear Nato, ISAF containers

The Pakistan Automated Customs Computerised System (PaCCS) does not clear Nato and International Security Assistance Force (ISAF) containers and cargo, which is commercial in nature, because of Pak-Afghan Transit Trade Agreement of 1965, as it requires ma
Published 15 May, 2011 12:00am
PaCCS does not clear Nato, ISAF containers

PaCCS does not clear Nato, ISAF containers

The Pakistan Automated Customs Computerised System (PaCCS) does not clear Nato and International Security Assistance Force (ISAF) containers and cargo, which is commercial in nature, because of Pak-Afghan Transit Trade Agreement of 1965, as it requires ma
Published 15 May, 2011 12:00am
Balochistan rejects cut in PSDP

Balochistan rejects cut in PSDP

Balochistan government has decided not to endorse the Annual Plan Co-ordination Committee (APPC) decision of dropping Rs 60 billion Public Sector Development Programme (PSDP) of the province for the next fiscal year and would take up the issue to the Nati
Published 15 May, 2011 12:00am
Balochistan rejects cut in PSDP

Balochistan rejects cut in PSDP

Balochistan government has decided not to endorse the Annual Plan Co-ordination Committee (APPC) decision of dropping Rs 60 billion Public Sector Development Programme (PSDP) of the province for the next fiscal year and would take up the issue to the Nati
Published 15 May, 2011 12:00am
Balochistan rejects cut in PSDP

Balochistan rejects cut in PSDP

Balochistan government has decided not to endorse the Annual Plan Co-ordination Committee (APPC) decision of dropping Rs 60 billion Public Sector Development Programme (PSDP) of the province for the next fiscal year and would take up the issue to the Nati
Published 15 May, 2011 12:00am
Nawaz wants National Assembly debate on defence budget

Nawaz wants National Assembly debate on defence budget

Pakistan Muslim League-Nawaz (PML-N) leader Nawaz Sharif on Saturday advised the PPP-led coalition government to stop obeying the US as well as the agencies and said that the Prime Minister in consultation with the Opposition Leader in the National Assemb
Published 15 May, 2011 12:00am
Nawaz wants National Assembly debate on defence budget

Nawaz wants National Assembly debate on defence budget

Pakistan Muslim League-Nawaz (PML-N) leader Nawaz Sharif on Saturday advised the PPP-led coalition government to stop obeying the US as well as the agencies and said that the Prime Minister in consultation with the Opposition Leader in the National Assemb
Published 15 May, 2011 12:00am
SNGPL cuts off supply to 74 big defaulter units

SNGPL cuts off supply to 74 big defaulter units

Sui Northern Gas Company Limited (SNGPL) has disconnected gas supply to 74 large industrial defaulter units on the instructions of the Ministry of Petroleum and Natural Resources. These large industrial units, spread throughout Punjab, are defaulters to t
Published 15 May, 2011 12:00am
SNGPL cuts off supply to 74 big defaulter units

SNGPL cuts off supply to 74 big defaulter units

Sui Northern Gas Company Limited (SNGPL) has disconnected gas supply to 74 large industrial defaulter units on the instructions of the Ministry of Petroleum and Natural Resources. These large industrial units, spread throughout Punjab, are defaulters to t
Published 15 May, 2011 12:00am
SNGPL cuts off supply to 74 big defaulter units

SNGPL cuts off supply to 74 big defaulter units

Sui Northern Gas Company Limited (SNGPL) has disconnected gas supply to 74 large industrial defaulter units on the instructions of the Ministry of Petroleum and Natural Resources. These large industrial units, spread throughout Punjab, are defaulters to t
Published 15 May, 2011 12:00am
EU, IMF pushing Greece to fully privatise utilities

EU, IMF pushing Greece to fully privatise utilities

EU and IMF inspectors are pushing Greece to fully privatise public utilities in exchange for the release of its next tranche of aid and a possible extra loan, Greek newspapers wrote on Saturday without naming sources. The finance ministry declined to comm
Published 15 May, 2011 12:00am
Shahbaz for joint effort to end terrorism, extremism

Shahbaz for joint effort to end terrorism, extremism

Punjab Chief Minister Muhammad Shahbaz Sharif has said that country is facing the twin monsters of terrorism and extremism and joint and concerted efforts are needed to eliminate them. Addressing the second International Conference on Literature and Cultu
Published 15 May, 2011 12:00am
Death toll climbs to 89 in Shabqadar suicide attack

Death toll climbs to 89 in Shabqadar suicide attack

The death toll from a double suicide bombing on a paramilitary police training centre in Shabqadar rose to 89 on Saturday, police said. Pakistan's Taliban said Friday's attack in the town of Shabqadar, which also wounded around 140 people, 40 of them crit
Published 15 May, 2011 12:00am
Death toll climbs to 89 in Shabqadar suicide attack

Death toll climbs to 89 in Shabqadar suicide attack

The death toll from a double suicide bombing on a paramilitary police training centre in Shabqadar rose to 89 on Saturday, police said. Pakistan's Taliban said Friday's attack in the town of Shabqadar, which also wounded around 140 people, 40 of them crit
Published 15 May, 2011 12:00am
Ahmadinejad dismisses oil minister

Ahmadinejad dismisses oil minister

Iranian President Mahmoud Ahmadinejad dismissed the oil minister and two other ministers on Saturday, news agency ISNA reported. "Ministers of oil, social welfare and industries and mines were dismissed by President Mahmoud Ahmadinejad in order to slim do
Published 15 May, 2011 12:00am
Ahmadinejad dismisses oil minister

Ahmadinejad dismisses oil minister

Iranian President Mahmoud Ahmadinejad dismissed the oil minister and two other ministers on Saturday, news agency ISNA reported. "Ministers of oil, social welfare and industries and mines were dismissed by President Mahmoud Ahmadinejad in order to slim do
Published 15 May, 2011 12:00am
Ahmadinejad dismisses oil minister

Ahmadinejad dismisses oil minister

Iranian President Mahmoud Ahmadinejad dismissed the oil minister and two other ministers on Saturday, news agency ISNA reported. "Ministers of oil, social welfare and industries and mines were dismissed by President Mahmoud Ahmadinejad in order to slim do
Published 15 May, 2011 12:00am
North Korea, Iran trade missile technology: UN

North Korea, Iran trade missile technology: UN

North Korea and Iran appear to have been regularly exchanging ballistic missile technology in violation of UN sanctions, according to a confidential United Nations report obtained by Reuters on Saturday. The report also said that the illicit technology tr
Published 15 May, 2011 12:00am
North Korea, Iran trade missile technology: UN

North Korea, Iran trade missile technology: UN

North Korea and Iran appear to have been regularly exchanging ballistic missile technology in violation of UN sanctions, according to a confidential United Nations report obtained by Reuters on Saturday. The report also said that the illicit technology tr
Published 15 May, 2011 12:00am
PPP to challenge LHC decision in Supreme Court, says Ashraf

PPP to challenge LHC decision in Supreme Court, says Ashraf

Pakistan People's Party (PPP) would challenge in the Supreme Court the decision of Lahore High Court (LHC) which said that the President of Pakistan should suspend political activities and could not use the Aiwan-e-Sadr for such purpose.
Published 15 May, 2011 12:00am
PPP to challenge LHC decision in Supreme Court, says Ashraf

PPP to challenge LHC decision in Supreme Court, says Ashraf

Pakistan People's Party (PPP) would challenge in the Supreme Court the decision of Lahore High Court (LHC) which said that the President of Pakistan should suspend political activities and could not use the Aiwan-e-Sadr for such purpose.
Published 15 May, 2011 12:00am
Eight parties name Dar for Opposition Leader's slot in Senate

Eight parties name Dar for Opposition Leader's slot in Senate

As many as 25 senators belonging to eight political parties in the Senate on Saturday submitted an application to Chairman Senate Chamber, requesting him to notify Ishaq Dar of Pakistan Muslim League-Nawaz (PML-N) as leader of the opposition in the upper
Published 15 May, 2011 12:00am
Eight parties name Dar for Opposition Leader's slot in Senate

Eight parties name Dar for Opposition Leader's slot in Senate

As many as 25 senators belonging to eight political parties in the Senate on Saturday submitted an application to Chairman Senate Chamber, requesting him to notify Ishaq Dar of Pakistan Muslim League-Nawaz (PML-N) as leader of the opposition in the upper
Published 15 May, 2011 12:00am
Nuclear weapons in safe hands: STR

Nuclear weapons in safe hands: STR

In order to remove the concerns of Pakistani people after May 2 incident, about the safety and security of the nuclear weapons and delivery system, the Strategic Technology Resource (STR) on Saturday said that Pakistani nuclear weapons are in safe hands.
Published 15 May, 2011 12:00am
Nuclear weapons in safe hands: STR

Nuclear weapons in safe hands: STR

In order to remove the concerns of Pakistani people after May 2 incident, about the safety and security of the nuclear weapons and delivery system, the Strategic Technology Resource (STR) on Saturday said that Pakistani nuclear weapons are in safe hands.
Published 15 May, 2011 12:00am
Turkish forces kill 12 Kurd fighters crossing from Iraq

Turkish forces kill 12 Kurd fighters crossing from Iraq

Turkish security forces killed at least 12 Kurdish militants after they were spotted crossing the border from Iraq, the military said on Saturday, while a soldier was killed by a mine blast. The Kurdistan Workers Party (PKK) guerrillas were killed during
Published 15 May, 2011 12:00am
Turkish forces kill 12 Kurd fighters crossing from Iraq

Turkish forces kill 12 Kurd fighters crossing from Iraq

Turkish security forces killed at least 12 Kurdish militants after they were spotted crossing the border from Iraq, the military said on Saturday, while a soldier was killed by a mine blast. The Kurdistan Workers Party (PKK) guerrillas were killed during
Published 15 May, 2011 12:00am
NPCC shares: PC and KASB Bank consortia enter deal for FAS

NPCC shares: PC and KASB Bank consortia enter deal for FAS

The Privatisation Commission (PC) on Saturday entered into an agreement with consortia of KASB Bank for Financial Advisory Services (FAS) to execute the disinvestment of 51 percent shares of National Power Construction Corporation (NPCC). The decision of
Published 15 May, 2011 12:00am
NPCC shares: PC and KASB Bank consortia enter deal for FAS

NPCC shares: PC and KASB Bank consortia enter deal for FAS

The Privatisation Commission (PC) on Saturday entered into an agreement with consortia of KASB Bank for Financial Advisory Services (FAS) to execute the disinvestment of 51 percent shares of National Power Construction Corporation (NPCC). The decision of
Published 15 May, 2011 12:00am
NPCC shares: PC and KASB Bank consortia enter deal for FAS

NPCC shares: PC and KASB Bank consortia enter deal for FAS

The Privatisation Commission (PC) on Saturday entered into an agreement with consortia of KASB Bank for Financial Advisory Services (FAS) to execute the disinvestment of 51 percent shares of National Power Construction Corporation (NPCC). The decision of
Published 15 May, 2011 12:00am
Singapore's founding father quits cabinet

Singapore's founding father quits cabinet

Singapore's founding prime minister Lee Kuan Yew said Saturday he will quit the cabinet to make way for younger leaders after the ruling party's worst performance in an election. Senior Minister Goh Chok Tong, the city-state's second premier, will also le
Published 15 May, 2011 12:00am
Khyber Pakhtunkhwa investing in productive sectors to generate resources

Khyber Pakhtunkhwa investing in productive sectors to generate resources

Chief Minister Khyber Pakhtunkhwa Ameer Haidar Khan Hoti has stated that on the one hand the government is confronting militancy while on the other it is investing in projects of productive sectors including Hydel power, oil and gas, industry and tourism
Published 15 May, 2011 12:00am
Khyber Pakhtunkhwa will computerise land record to cut Patwaris powers

Khyber Pakhtunkhwa will computerise land record to cut Patwaris powers

The Khyber Pakhtunkhwa Assembly special committee for elimination of corruption and irregularities in the department of revenue was told the provincial government has decided the computerisation of the land record to minimise the powers of patwaris.
Published 15 May, 2011 12:00am
Economic revival: 'Budget 2011 must be pro-industry, people-friendly'

Economic revival: 'Budget 2011 must be pro-industry, people-friendly'

President Sialkot Chamber of Commerce and Industry (SCCI), Ghulam Mustafa Chaudhry in a press statement said that government should take into account the problems being faced by the business community before announcing Federal Budget 2011-12. It is high t
Published 15 May, 2011 12:00am
LHC moved to stop transit facilities to US

LHC moved to stop transit facilities to US

A petition has been filed before the Lahore High Court (LHC) with a prayer to direct the federal government to stop transit facilities to US till it does not apologies on Abbotabad operation. The petitioner also prayed to the court to declare Pakistan amb
Published 15 May, 2011 12:00am
Thousands of people visit PU book fair

Thousands of people visit PU book fair

Thousands of people visited the Punjab University book fair 2011 organised by the administration, faculty and students, on third and last day. PPP General Secretary Jahangir Badr, former Provincial Minister Tanvir Ashraf Kaira, Provincial Education Minist
Published 15 May, 2011 12:00am
Next budget to focus equity, revival, self-reliance: Pasha

Next budget to focus equity, revival, self-reliance: Pasha

Chairman, Revenue Advisory Council (RAC) and former federal finance minister, Dr Hafeez A. Pasha has said that the next federal budget will concentrate on 'equity, revival and self-reliance ' and there will be no new tax or upward revision of the existing
Published 15 May, 2011 12:00am
Next budget to focus equity, revival, self-reliance: Pasha

Next budget to focus equity, revival, self-reliance: Pasha

Chairman, Revenue Advisory Council (RAC) and former federal finance minister, Dr Hafeez A. Pasha has said that the next federal budget will concentrate on 'equity, revival and self-reliance ' and there will be no new tax or upward revision of the existing
Published 15 May, 2011 12:00am
Action against defaulter mill owners demanded

Action against defaulter mill owners demanded

Anjuman Kashtkaran Punjab President, Peerzada Abdul Ali Zakir Usmani has urged the government to take action against defaulter mill owners. He said that despite serious efforts by Punjab government, sugar mills have yet to pay rupees seven billion out of
Published 15 May, 2011 12:00am
Industrial-Police Liaison body set up in Faisalabad region

Industrial-Police Liaison body set up in Faisalabad region

First institutional effort has been made to provide conducive environment to the industrialists and prospective investors intending to invest in Faisalabad Region, said Commissioner Tahir Hussain. Inaugurating the Industrial-Police Liaison Committee here
Published 15 May, 2011 12:00am
International literary and cultural conference held at Al-Hamrah

International literary and cultural conference held at Al-Hamrah

Senior Advisor to Chief Minister Sardar Zulfiqar Ali Khan Khosa has said that writers and poets have played important role for creating determination, unity and awakening the nations and the poetry of Allama Iqbal is a living example of it. He said that e
Published 15 May, 2011 12:00am
HCCI trade delegation leaves for Switzerland today

HCCI trade delegation leaves for Switzerland today

On the invitation of Swiss Business Council and Swiss Asian Chamber of Commerce, a four member's trade delegation from Hyderabad Chamber of Commerce & Industry would leave for Switzerland on 15th May, 2011 (today) to participate in Textile, Machinery and
Published 15 May, 2011 12:00am
Hoti inaugurates Abaseen River Safari at Kund Park

Hoti inaugurates Abaseen River Safari at Kund Park

Chief Minister Khyber Pakhtunkhwa, Ameer Haider Khan Hoti on Saturday inaugurated the much awaited Abaseen River ferry with a boat named after Pashto folklore romance character Esap Khan at well decorated Kund rest house. The Abaseen where history, romanc
Published 15 May, 2011 12:00am
LHC moved against President's power

LHC moved against President's power

A writ petition has been filed before the Lahore High Court (LHC) seeking directions to the federal government to withdraw the powers of Supreme Commander of Armed Forces of Pakistan from President of Pakistan and grant the same to the Chief of Army Staff
Published 15 May, 2011 12:00am
LHC Chief Justice constitutes 10 DBs, 21 SBs

LHC Chief Justice constitutes 10 DBs, 21 SBs

Chief Justice Lahore High Court Ijaz Ahmad Chaudhry here on Saturday constituted 10 division benches (DBs) and 21 single benches (SBs) for the disposal of the cases pending at the principal seat of the august court for the week commencing from May 16.
Published 15 May, 2011 12:00am
Qaim seeks PMA's help for doctors presence in rural areas

Qaim seeks PMA's help for doctors presence in rural areas

Chief Minister of Sindh, Syed Qaim Ali Shah has urged the Pakistan Medical Association (PMA) to help government in ensuring presence of doctors transferred to health centers and hospitals in rural areas.
Published 15 May, 2011 12:00am
Soft launch of Rahim Yar Khan Industrial Estates announced

Soft launch of Rahim Yar Khan Industrial Estates announced

Punjab Industrial Estates Development and Management Company (PIEDMC) Saturday announced the soft launch of Rahim Yar Khan Industrial Estates at a function held here on Saturday. Speaking on the occasion, Haji Abdul Malik Qasim, State Minister for Halal H
Published 15 May, 2011 12:00am
Solid waste disposal: 'Refused Derived Fuel' plant being set up

Solid waste disposal: 'Refused Derived Fuel' plant being set up

On the directions of Chief Minister Punjab, Muhammad Shahbaz Sharif, a Refused Derived Fuel (RDF) plant is being set up under the arrangement of City District Government for scientific disposal of municipal solid waste, which would help in generating inco
Published 15 May, 2011 12:00am
Pakistan and Malaysia to co-operate in Halal food sector: accord inked

Pakistan and Malaysia to co-operate in Halal food sector: accord inked

Punjab Agriculture and Meat Company (Pamco) has signed a Memorandum of Understanding (MoU) with Penang International Halal Hub (Malaysia), here on Saturday, for mutual co-operation in Halal food products. The document was signed during the visit of Malays
Published 15 May, 2011 12:00am
LHC verdict: nationwide protest on Zardari's return, says Badar

LHC verdict: nationwide protest on Zardari's return, says Badar

Pakistan People's Party (PPP) General Secretary Jehangir Badar has said that national level protest against LHC decision will be taken on return of President Asif Ali Zardari. He was speaking at a press conference held at Lahore Press Club on Saturday aft
Published 15 May, 2011 12:00am
'Punjab austerity drive yielding positive results'

'Punjab austerity drive yielding positive results'

Advisor to Punjab Chief Minister Zulfiqar Ali Khan Khosa has said that encouraging and positive results are pouring in from austerity and simplicity drive of Punjab government during this year, and the drive would continue. He said that Punjab government
Published 15 May, 2011 12:00am
Qureshi slams government on Abbottabad episode

Qureshi slams government on Abbottabad episode

A former foreign minister, Shah Mehmood Qureshi, said here on Saturday that "I like no confrontation between United States and Pakistan and want to develop mutual trust and respect because conflict is harmful to both countries." He added: "Every Pakistani
Published 15 May, 2011 12:00am
'Establishment not to provide 'political crutches' to Nawaz '

'Establishment not to provide 'political crutches' to Nawaz '

Federal Minister for Information and Broadcasting Dr Firdous Ashiq Awan said on Saturday that the establishment would not provide "political crutches" to Nawaz Sharif for coming back in power. Talking to a private channel, here she said that Nawaz Sharif'
Published 15 May, 2011 12:00am
Judicial training: body set up to prepare report on legislation

Judicial training: body set up to prepare report on legislation

A sub-committee, headed by Pervaiz Ali Calla, Director General, Federal Judicial Academy, would prepare and submit a detailed report regarding uniform legislation for imparting judicial training in Provincial Judicial Academies and FJA, essential for prom
Published 15 May, 2011 12:00am
US Ambassador meets Nawaz

US Ambassador meets Nawaz

The US Ambassador to Pakistan, Cameron Munter, accompanied by US officials called on PML-N Leader Nawaz Sharif at his Raiwind residence on Saturday and discussed the situation arising out of the US operation in Abbottabad. During the meeting which lasted
Published 15 May, 2011 12:00am
RTO chief commissioner opens FBR-PHMA VPN link

RTO chief commissioner opens FBR-PHMA VPN link

The Chief Commissioner of Regional Tax Office (RTO), Karachi, Muhammad Raza Baqir, on Saturday formally opened the VPN link between Federal Bureau of Revenue and Pakistan Hosiery Manufacturers and Exporters Association (PHMA) and urged the exporters to he
Published 15 May, 2011 12:00am
Four killed in separate mishaps

Four killed in separate mishaps

At least four persons including a minor girl were killed in separate mishaps in different parts of metropolis on Saturday. According to details, a retired navy employee was shot dead at North Karachi within the limits of Khawaja Ajmair Nagri police statio
Published 15 May, 2011 12:00am
Need for new provisions for industrialisation stressed

Need for new provisions for industrialisation stressed

In order to improve economic situation of the country, the government has to introduce new provisions for industrialisation in the coming budget for 2011-12, analysts said. They said the current economic situation, which has progressively been deteriorati
Published 15 May, 2011 12:00am
'Government intends to accelerate work pace for Thar coal'

'Government intends to accelerate work pace for Thar coal'

Sindh Chief Minister, Syed Qaim Ali Shah on Saturday chaired the 12th meeting of Thar Coal and Energy Board (TC&EB) at Chief Minister House here. Addressing the meeting the Chief Minister said the Sindh Government intends to accelerate the pace of work fo
Published 15 May, 2011 12:00am
Four bodies found in gunny bags

Four bodies found in gunny bags

Four bullet-riddled and tortured bodies were found in gunny bags in various parts of the metropolis here on Saturday. According to details, first body was found in gunny bag at Edigah area near old Haji Camp, Timber Market. The victim, who was identified
Published 15 May, 2011 12:00am
CID arrests 2 illegal arms dealers

CID arrests 2 illegal arms dealers

Crime Investigation Department (CID) on Saturday claimed to have arrested two illegal arms dealers from Mochko area of Baldia Town and recovered huge cache of arms and ammunitions from their custody. According to CID, a team headed by SP Muhammad Fayyaz K
Published 15 May, 2011 12:00am
Tetra milk producers jack up price by eight percent

Tetra milk producers jack up price by eight percent

The producers have increased price of tetra pack milk by 8 per cent this week, while during the ongoing year packaged milk price was raised by Rs 20 per litre. According to a survey carried out by Business Recorder, leading tetra milk producer like Nestle
Published 15 May, 2011 12:00am
Anti-masses budget predicted

Anti-masses budget predicted

Convenor of Anti-Graft caucuses and non-democratic Alliance and MNAs Nawazada Khawaja Mohammad Khan has predicted that the upcoming fiscal budget will be a jugglery of words, saying that federal and provincial governments are engaged in presenting anti-ma
Published 15 May, 2011 12:00am
SITE association concerned over KESC employees' strike

SITE association concerned over KESC employees' strike

Asad Nisar Barkhurdaria, Senior Vice Chairman, SITE Association of Industry has expressed serious concern over continuous strike by employees of KESC. The industries in the SITE area are without power for the last six days and the production is suffering
Published 15 May, 2011 12:00am
Etihad launches free luxury stopover promotion

Etihad launches free luxury stopover promotion

Etihad Airways, the national airline of the United Arab Emirates, has launched its latest 'Complimentary Nights' promotion offering free stopovers at selected luxury hotels in downtown Abu Dhabi, Yas Island or Dubai, to premium passengers transiting throu
Published 15 May, 2011 12:00am
'Healthy entertainment imperative for growth of society, institutions'

'Healthy entertainment imperative for growth of society, institutions'

Chairman Capital Development Authority (CDA) Imtiaz Inayat Elhai has said that healthy entertainment is imperative for proper growth of a society and institutions should arrange such entertaining galas to provide healthy and easy entertainment. "It is ver
Published 15 May, 2011 12:00am
War against terror: world urged to recognise Pakistan's sacrifices

War against terror: world urged to recognise Pakistan's sacrifices

Chairman Senate Committee on Defence and Production Senator Lieutenant General Javed Ashraf Qazi (Retd) said that Pakistan had suffered tremendous losses in war against terror and world must recognise the sacrifices which Pakistan had offered for ensuring
Published 15 May, 2011 12:00am
National Assembly speaker meets UN chief

National Assembly speaker meets UN chief

National Assembly Speaker Dr Fehmida Mirza called on UN Secretary-General Ban Ki-moon on Friday and briefed him about the legislative work done by Pakistan's parliament, especially the adoption of 18th and 19th constitutional amendments aimed at strengthe
Published 15 May, 2011 12:00am
Made-in-Pakistan Exposition opens at Dhaka

Made-in-Pakistan Exposition opens at Dhaka

Trade Development Authority of Pakistan (TDAP) in-collaboration with Rawalpindi Chamber of Commerce and Industry (RCCI) would organise "Made in Pakistan Exhibition" at Dhaka, Bangladesh. A statement issued here on Saturday said that five-day long event st
Published 15 May, 2011 12:00am
Rao Amin appointed IG Balochistan

Rao Amin appointed IG Balochistan

Prime Minister Syed Yousuf Raza Gilani has appointed Rao Amin Hashim as Inspector General (IG) Balochistan, a press release issued by the PM House here on Saturday said.
Published 15 May, 2011 12:00am
Residential colony being planned for SDA workers

Residential colony being planned for SDA workers

Khyber Paktunkhwa, Minister for Industries & Commerce, Syed Ahmad Hussain Shah has said that government would establish a separate residential colony for the employees of Sarhad Development Authority (SDA), saying that for the purpose, a piece of land wou
Published 15 May, 2011 12:00am
No decline in crimes rate in Capital

No decline in crimes rate in Capital

In spite of the claims by the Islamabad police chiefs about nabbing 4,543 persons involved in street crimes in the capital, no decline was seen in the crimes rate. During the current week, people in Islamabad were deprived of 18 vehicles, 15 motorcycles a
Published 15 May, 2011 12:00am
Traders reject 'propaganda' against Pakistan Army

Traders reject 'propaganda' against Pakistan Army

S. M. Muneer, Patron-in-Chief, Korangi Association of Trade and Industry (Kati), Chairman, Syed Johar Ali Qandhari and former Chairman, Mian Zahid Hussain strongly condemned the ongoing negative campaign by some quarters against the military of Pakistan.
Published 15 May, 2011 12:00am
PSQCA told to launch campaign against water bottling units

PSQCA told to launch campaign against water bottling units

The Federal Secretary of Science and Technology, Irfan Nadeem, has directed the Pakistan Standards and Quality Control Authority (PSQCA) to immediately launch a campaign against water bottling units in Karachi to contain the complaints of consumers, as wi
Published 15 May, 2011 12:00am
Water level rise at Tarbela, Mangla

Water level rise at Tarbela, Mangla

Water level rose at both the major reservoirs of the country Tarbela and Mangla this week and water level at Tarbela was recorded 1,410 feet and at Mangla 1,141 feet which is 32 feet and 101 feet above dead levels respectively. According to data released
Published 15 May, 2011 12:00am
President signs NDU Bill into law

President signs NDU Bill into law

President Asif Ali Zardari on Saturday signed National Defence University Bill 2011 into law which paves way for establishment of National Defence University (NDU) here. The National Defence University Bill 2011 was passed by the National Assembly on Febr
Published 15 May, 2011 12:00am
Complete shutdown observed in IHK

Complete shutdown observed in IHK

Complete shutdown observed in Indian occupied Kashmir on Saturday against the continued illegal detention of innocent Kashmiris including Hurriyet leaders and activists. Call for the shutdown has been given by veteran Kashmiri Hurriyet leader, Syed Ali Gi
Published 15 May, 2011 12:00am
Won Intel award: Pakistani scientists use Nanotechnology to clean water

Won Intel award: Pakistani scientists use Nanotechnology to clean water

Ambreen Bibi and Mehwish Ghafoor of Islamabad won a Third Place Grand Award in the field of Environmental Sciences at the Intel International Science and Engineering Fair, a programme of Society for Science and the Public. They received the award and $1,0
Published 15 May, 2011 12:00am
Budget proposals: ICAP for cutting sales tax rate to 12 percent

Budget proposals: ICAP for cutting sales tax rate to 12 percent

The Institute of Chartered Accountants of Pakistan (ICAP) has proposed that the sales tax should be brought down to 12.5 per cent from the existing 17 per cent. In its budget proposals for the year 2011-12, the ICAP noted that sales tax rate was quite hig
Published 15 May, 2011 12:00am
Budget proposals: ICAP for cutting sales tax rate to 12 percent

Budget proposals: ICAP for cutting sales tax rate to 12 percent

The Institute of Chartered Accountants of Pakistan (ICAP) has proposed that the sales tax should be brought down to 12.5 per cent from the existing 17 per cent. In its budget proposals for the year 2011-12, the ICAP noted that sales tax rate was quite hig
Published 15 May, 2011 12:00am
Aggression intolerable, says Malik

Aggression intolerable, says Malik

Pakistan will not tolerate any challenge to its sovereignty, said Interior Minister Rehman Malik here on Saturday. He was talking to mediapersons on arrival at Jinnah International Airport. "Our Prime Minister has given a message to the world that aggress
Published 15 May, 2011 12:00am
CJP constitutes three Supreme Court benches for next week

CJP constitutes three Supreme Court benches for next week

Chief Justice Iftikhar Muhammad Chaudhry has constituted a total of three benches of the Supreme Court for next week commencing from May 16 (Monday) for hearing hundreds of cases here. According to the cause list issued by the fixture department of the Su
Published 15 May, 2011 12:00am
Gold plunged to Rs 41,442

Gold plunged to Rs 41,442

Gold plunged by Rs 343 to Rs 41,442 per 10 grams in local bullion market on Saturday, as its international price also dipped to $1,495 an ounce, market sources said. According to Karachi Saraf Association, tola (11.664 grams) price also soured by Rs 400 t
Published 15 May, 2011 12:00am
Rabi Crop 2010-11: campaign to recover loans in full swing: advisor

Rabi Crop 2010-11: campaign to recover loans in full swing: advisor

The campaign to recover loans extended by Punjab Provincial Co-operative Bank Limited for Rabi Crop 2010-11 and earlier, is in full swing, said Advisor to Chief Minister on Co-operatives, Raja Ashfaq Sarwar. He stated this while briefing a delegation abou
Published 15 May, 2011 12:00am
HHRD organises workshop on health care

HHRD organises workshop on health care

Helping Hand for Relief and Development (HHRD) announced conversion of field hospitals into Mother and Child Health Care Center in flood-affected areas of the country, which would cost around Rs 50 million. Each hospital will cater to around six thousand
Published 15 May, 2011 12:00am
Deteriorating Pak-US relations

Deteriorating Pak-US relations

In his post-Osama interview with Time magazine, Prime Minister Yousuf Raza Gilani talked of a deteriorating Pak-US relationship that manifested itself on both the people's and the government level, as he explained it, because of trust-deficit shown by the
Published 15 May, 2011 12:00am
Poverty and food insecurity

Poverty and food insecurity

Speaking at a pre-budget seminar, organised by Pakistan Institute of Development Economics (PIDE), the other day prominent economist, Dr Akmal Hussain, pointed to a little noticed but disturbing reality that 74 percent of our population is food insecure.
Published 15 May, 2011 12:00am
Need for taxpayers' bill of rights: pre-budget tax proposals - III

Need for taxpayers' bill of rights: pre-budget tax proposals - III

Tax lien priorities: A federal tax lien is not valid against any purchaser, holder of a security interest, mechanic's lienor, or judgement lien creditor until a notice of the lien has been properly filed (Code sec. 6323 (a)). (In the case of real p
Published 15 May, 2011 12:00am
Ex-Taliban spy raking in aid money

Ex-Taliban spy raking in aid money

With his fondness for American rap music and Beyoncé, Fareed Hidayati, sporting cropped hair, a clean-shaven face and speaking in a thick British accent does not seem like a typical Taliban spy. He drives around Kabul in the Taliban's favourite vehicle, t
Published 15 May, 2011 12:00am
OBL incident: a wake up call

OBL incident: a wake up call

Osama bin Laden incident has shown just how precarious Pakistan's situation has become, if any proof was still needed apart from the bomb blasts occurring in different parts of the country, views such as these are being aired by citizens such as Syed Jawa
Published 15 May, 2011 12:00am
Commodities rattled by stubborn demand fears

Commodities rattled by stubborn demand fears

Commodity markets experienced another volatile week, with New York oil prices diving again, as traders eyed stubborn demand fears in consumer nations and tracked sharp fluctuations in the dollar. Most raw materials had already slumped in value the previou
Published 15 May, 2011 12:00am
Australia's cotton growers set to reap record harvest

Australia's cotton growers set to reap record harvest

Australia's cotton growers are half way through reaping a record harvest set to be over 4 million bales, an industry official said on Thursday, and should benefit from a US government forecast for a 12 percent rise in world exports in 2011/2012. Importers
Published 15 May, 2011 12:00am
Ivory Coast cotton ginners expect increase in crop

Ivory Coast cotton ginners expect increase in crop

Ivory Coast is forecast to produce 216,000 tonnes of cotton in 2011-2012, up from around 175,000 tonnes the previous season, the executive secretary of the cotton ginners association said on Wednesday. Ivory Coast, the world biggest cocoa producer, was al
Published 15 May, 2011 12:00am
Bullish funds slash commodity bets by $17 billion

Bullish funds slash commodity bets by $17 billion

Big hedge funds and speculators cut their bullish bets on commodity markets by $17 billion in the week through Tuesday, the biggest bear turn since at least 2009, regulatory data showed on Friday. The so-called "managed money" funds cut their overall net
Published 15 May, 2011 12:00am
Bullish funds slash commodity bets by $17 billion

Bullish funds slash commodity bets by $17 billion

Big hedge funds and speculators cut their bullish bets on commodity markets by $17 billion in the week through Tuesday, the biggest bear turn since at least 2009, regulatory data showed on Friday. The so-called "managed money" funds cut their overall net
Published 15 May, 2011 12:00am
Malaysian palm oil hits 10-day high

Malaysian palm oil hits 10-day high

Malaysian palm oil futures extended gains to hit a ten-day high on Friday, as positive demand expectations supported prices, while investors considered the possible impact of a large Chinese purchase of rival soyoil. The benchmark July crude palm oil cont
Published 15 May, 2011 12:00am
Malaysia, Indonesia plan EU palm oil council

Malaysia, Indonesia plan EU palm oil council

Malaysia and Indonesia will set up a palm oil body to counter negative publicity against the vegetable oil within the European Union, the Star newspaper reported on Saturday. Malaysia's Plantation Industries and Commodities Minister Bernard Dompok said bo
Published 15 May, 2011 12:00am
Asian rice prices to stay firm for few months in Thailand

Asian rice prices to stay firm for few months in Thailand

Asian rice prices were little changed this week and fresh demand was light, but prices were likely to hold at relatively firm levels for a few months in Thailand due to possible pre-election intervention by the government, traders said on Wednesday. The p
Published 15 May, 2011 12:00am
CBOT soya ends lower

CBOT soya ends lower

US soybean ended lower on Friday, pressured by a jump in the US dollar and a decline in crude oil futures, traders said. July soybeans were down 0.9 percent on the day and up 0.3 percent for the week. Soybeans also were pressured Friday by unwinding of be
Published 15 May, 2011 12:00am
Zambia copper output up

Zambia copper output up

Copper output in Zambia, Africa's top producer of the metal, rose by 4.1 percent in the first quarter of 2011 and is expected to rise higher as new projects start production, the central bank said on Wednesday. January to March copper output rose to 204,5
Published 15 May, 2011 12:00am
US gold drops one percent, ends week flat

US gold drops one percent, ends week flat

Gold fell on Friday, sharply reversing early gains, as a dollar surge against the euro and renewed uncertainty about eurozone debt prompted investors to sell ahead of the weekend. Silver continued to recover from last week's 25 percent correction, and tec
Published 15 May, 2011 12:00am
Copper moves up

Copper moves up

Copper finished firm on Friday, reacting to upbeat data from the United States and Europe that helped restore some market confidence and economic recovery optimism. Still, it was an extremely volatile week for the industrial metal, with prices plumbing fi
Published 15 May, 2011 12:00am
German parliament backs euro fund

German parliament backs euro fund

German Chancellor Angela Merkel will secure a parliamentary majority in favour of the planned permanent bailout fund for the eurozone, a senior coalition politician said on Saturday. Some German media have reported increasing numbers of parliamentarians o
Published 15 May, 2011 12:00am
German parliament backs euro fund

German parliament backs euro fund

German Chancellor Angela Merkel will secure a parliamentary majority in favour of the planned permanent bailout fund for the eurozone, a senior coalition politician said on Saturday. Some German media have reported increasing numbers of parliamentarians o
Published 15 May, 2011 12:00am
Hong Kong leases prime property for $13 a year

Hong Kong leases prime property for $13 a year

Hong Kong telecoms giant PCCW has been renting prime publicly-owned real estate to house a staff recreation club for just $13 a year, a report said Saturday, amid rising public anger over soaring property prices. The South China Morning Post said the firm
Published 15 May, 2011 12:00am
Iran body approves state budget bill

Iran body approves state budget bill

Iran's Guardian Council watchdog has approved the state budget for the current Iranian year, the state-run television reported on Saturday. The Iranian new year started on March 21. The 5,170 billion rial (around $500 billion) budget will now be sent to p
Published 15 May, 2011 12:00am
India hikes petrol prices

India hikes petrol prices

India's state-owned fuel firms on Saturday hiked petrol prices by nearly nine percent to help stem revenue losses from a rise crude prices, a record rise that will fuel stubbornly high inflation. The increase marked the eighth rise in petrol prices since
Published 15 May, 2011 12:00am
Saudi Arabia's inflation higher as food costs grow

Saudi Arabia's inflation higher as food costs grow

Saudi Arabia's annual inflation inched up to 4.8 percent in April due to a rise in food and transport costs, and analysts expect price pressures will grow in the next few months. Inflation in the world's top oil exporter had been falling since touching an
Published 15 May, 2011 12:00am
Saudi Arabia must invest $88 billion in power over 10 years

Saudi Arabia must invest $88 billion in power over 10 years

Saudi Arabia needs to invest 330 billion riyals ($88 billion) over the next 10 years as demand for electricity continues to grow 7-8 percent annually, the kingdom's water and electricity minister said. Abdullah al-Husayen told an industry conference on Sa
Published 15 May, 2011 12:00am
UAE growth at 1.4 percent

UAE growth at 1.4 percent

The United Arab Emirates' economy grew 1.4 percent in real terms in 2010 after shrinking 1.6 percent in 2009, its statistics office said on Saturday, although a struggling construction sector may continue to hamper growth. Global financial turmoil in 2008
Published 15 May, 2011 12:00am
Obama seeks more drilling in Alaska, Gulf of Mexico

Obama seeks more drilling in Alaska, Gulf of Mexico

US President Barack Obama, under pressure from Republicans and the public to bring down gasoline prices, announced new measures on Saturday to expand domestic oil production in Alaska and the Gulf of Mexico. High fuel prices have dented Obama's ratings in
Published 15 May, 2011 12:00am
Iraq's oil deals going faster than planned: Shahristani

Iraq's oil deals going faster than planned: Shahristani

Work in Iraqi oilfields being developed by foreign oil companies is going ahead "normally" and faster than contracted, the country's deputy prime minister for energy Hussain al-Shahristani said on Saturday. Shahristani, who has responsibility for Iraq's g
Published 15 May, 2011 12:00am
EU slaps first anti-subsidy duties on China

EU slaps first anti-subsidy duties on China

The European Union on Saturday imposed a five-year hike in duties on imports of glossy paper from China, the first EU challenge to Chinese state subsidies and a sign of more to come.
Published 15 May, 2011 12:00am
Easyjet flights from Berlin cancelled, delayed

Easyjet flights from Berlin cancelled, delayed

Easyjet flights to and from Berlin were hit by cancellations and delays on Saturday, as the British budget airline was targeted by German strike action in a pay dispute. German trade union Verdi called the industrial action, after months of pay negotiatio
Published 15 May, 2011 12:00am
Paris Fedex workers strike over pay dispute

Paris Fedex workers strike over pay dispute

Workers at Fedex Corp's European gateway in Paris took strike action into a fourth day on Saturday over a pay row that has disrupted flights and the delivery of thousands of packages, a company spokesman said. Memphis-based FedEx, the world's largest carg
Published 15 May, 2011 12:00am
Financial crisis in developing economies 'inevitable'

Financial crisis in developing economies 'inevitable'

China will be able to avoid a financial crisis that is due to hit other developing countries over the next five to 10 years, a central bank adviser was quoted as saying on Saturday. Li Daokui told a forum that emerging economies such as Brazil and India f
Published 15 May, 2011 12:00am
Innkeepers gets $1.12 billion sale approval

Innkeepers gets $1.12 billion sale approval

Innkeepers USA Trust, the bankrupt manager of more than 70 hotels, gained court approval on Friday of a plan to sell most of its properties to Cerberus Capital Management and Chatham Lodging Trust for $1.12 billion. The deal, green-lighted by Judge Shelle
Published 15 May, 2011 12:00am
Libya buries imams it says Nato killed in strike

Libya buries imams it says Nato killed in strike

Tears, chants and volleys of gunfire fired into the air punctuated the funeral for nine imams Libya said Nato killed in an air strike, but the alliance said the building it struck was a command-and-control centre. Nato is bombing Libya as part of a UN man
Published 15 May, 2011 12:00am
Three killed in Syrian town, hundreds flee to Lebanon

Three killed in Syrian town, hundreds flee to Lebanon

Three people were killed after Syrian troops and gunmen entered the town of Tel Kelakh on Saturday, a rights campaigner said, and hundreds fled what they said was fierce fighting into neighbouring Lebanon. The violence came a day after activists said at l
Published 15 May, 2011 12:00am
Mubarak wife stable, available for police

Mubarak wife stable, available for police

The health of former Egyptian President Hosni Mubarak's wife has improved after suffering symptoms of a heart attack and she is now available for police to take her to prison, the health minister said on Saturday. An anti-corruption agency ordered Suzanne
Published 15 May, 2011 12:00am
Omani forces arrest protesters

Omani forces arrest protesters

Omani security forces arrested dozens of protesters demanding jobs and higher salaries in Salalah on Saturday, witnesses said, after a wave of arrests in the southern port city in recent days. Security forces had on Thursday fired shots in the air to push
Published 15 May, 2011 12:00am
Four killed in a helicopter crash in India

Four killed in a helicopter crash in India

A paramilitary helicopter crashed in India's north-western state of Rajasthan killing all four people including the pilot, officials said Saturday. The helicopter, belonging to the Border Security Force (BSF), which had taken off from the neighbouring sta
Published 15 May, 2011 12:00am
Russia calls for equal part in Europe missile system

Russia calls for equal part in Europe missile system

Russia's President Dmitry Medvedev issued a new call on Saturday for his country to have an equal role in a European missile defence system, reviving a dispute that has troubled relations with Washington for years. "A European missile defence system can b
Published 15 May, 2011 12:00am
Manager of defunct US hedge fund accused of fraud

Manager of defunct US hedge fund accused of fraud

A former hedge fund manager has been charged with defrauding investors of at least $12.6 million in a federal indictment on Friday, nearly two years after the fund collapsed under the weight of failed real estate loans. Lloyd Barriger continued to promise
Published 15 May, 2011 12:00am
Manager of defunct US hedge fund accused of fraud

Manager of defunct US hedge fund accused of fraud

A former hedge fund manager has been charged with defrauding investors of at least $12.6 million in a federal indictment on Friday, nearly two years after the fund collapsed under the weight of failed real estate loans. Lloyd Barriger continued to promise
Published 15 May, 2011 12:00am
Iran militia trains for anti-regime protests

Iran militia trains for anti-regime protests

Thousands of Islamic militiamen loyal to Iran's rulers have staged exercises for deployment against protesters in the event of any anti-regime demonstrations, a reformist daily reported on Saturday. Around 3,000 members of the Basij militia on Friday held
Published 15 May, 2011 12:00am
Singer Michel Martelly sworn in as Haiti's president

Singer Michel Martelly sworn in as Haiti's president

Singer Michel Martelly was sworn in as president of Haiti on Saturday in a ceremony attended by about 2,000 guests, including former US president Bill Clinton. "This is an historic day for me," Martelly said after the ceremony. He promised to work for nat
Published 15 May, 2011 12:00am
Third worker dies at Japan's troubled nuclear plant

Third worker dies at Japan's troubled nuclear plant

A worker at Japan's tsunami-crippled Fukushima Daiichi nuclear power plant died on Saturday, plant operator Tokyo Electric Power Co said, bringing the death toll at the complex to three since a massive earthquake and tsunami in March. Despite the prolonge
Published 15 May, 2011 12:00am
Georgia signs immigration crackdown

Georgia signs immigration crackdown

Georgia's governor on Friday signed a tough new state law cracking down on illegal immigrants that is similar to one enacted in Arizona last year, handing new powers to police in the southern US state. The law authorises police in Georgia to investigate t
Published 15 May, 2011 12:00am
One killed in violent protests in Afghanistan

One killed in violent protests in Afghanistan

Hundreds of Afghans protested on Saturday against the accidental killing of a teenage boy by Nato-led forces in a volatile eastern province, and the district governor said one man was shot dead as police fired at the crowd after it turned violent. Distric
Published 15 May, 2011 12:00am
Louisiana residents, farmers brace for floodwaters

Louisiana residents, farmers brace for floodwaters

US Army engineers on Saturday prepared to open a key spillway to allow the swollen Mississippi River to swamp thousands of homes and acres of crops but spare Louisiana's two largest cities from flooding. The US Army Corps of Engineers was expected to open
Published 15 May, 2011 12:00am
Belarus jails opposition leader for five years

Belarus jails opposition leader for five years

Belarus on Saturday jailed opposition leader Andrei Sannikov for five years on charges of organising protests after the disputed re-election of authoritarian President Alexander Lukashenko. Sannikov, 57, is the most prominent figure in a series of trials
Published 15 May, 2011 12:00am
Sultan Azlan Shah Cup: Pakistan face Australia in final

Sultan Azlan Shah Cup: Pakistan face Australia in final

Asian champions Pakistan earned the right Saturday to play world champions Australia in the Sultan Azlan Shah Cup final after beating host Malaysia 3-2 in their last preliminary round match. The team was helped by the fact that Great Britain, who had been
Published 15 May, 2011 12:00am
Ajmal bowls Pakistan back into contention

Ajmal bowls Pakistan back into contention

Saeed Ajmal continued to torment the West Indies as he bowled Pakistan back into the opening Test on Saturday when the hosts were reduced to 96 for seven in their second innings for an overall lead of 162.
Published 15 May, 2011 12:00am
Nadal reaches final

Nadal reaches final

A dominant Rafael Nadal broke Richard Gasquet's resolve and eased into the Rome Masters final with a 7-5, 6-1 victory over the 16th seed here on Saturday. Taking an 8-0 record against Gasquet into this match, the world number one survived some nervous mom
Published 15 May, 2011 12:00am
SBP Inter-School T20: Kamran Public School, Khan School win

SBP Inter-School T20: Kamran Public School, Khan School win

Kamran Public School beat City School by 9 wickets in the first State Bank of Pakistan Inter-School T20 Cricket Tournament which got under way at SBP Sports Complex, North Nazimabad, Karachi on Saturday. Batting first, City School scored 91 runs for the l
Published 15 May, 2011 12:00am
Manchester City win FA Cup

Manchester City win FA Cup

Manchester City's 35-year wait for a trophy ended when Yaya Toure's unstoppable shot sealed a deserved 1-0 win over Stoke City in the FA Cup final on Saturday. Having secured a place in the Champions League qualifiers for the first time, City's fifth FA C
Published 15 May, 2011 12:00am
United win record 19th English crown, surpass Liverpool

United win record 19th English crown, surpass Liverpool

Manchester United were crowned English champions for a record 19th time on Saturday when Wayne Rooney's penalty earned a 1-1 draw at Blackburn Rovers and the point they needed to win the Premier League title. Rooney, who came close to quitting United earl
Published 15 May, 2011 12:00am
Warne apologises for bust-up

Warne apologises for bust-up

Australian leg-spin legend Shane Warne has apologised for his part in a bust-up with a cricket official after a recent Indian Premier League (IPL) match, reports said on Saturday. Warne, captain of the Rajasthan Royals IPL team, was involved in an angry e
Published 15 May, 2011 12:00am
Dollar at five-week high

Dollar at five-week high

The US dollar rose to a five-week high against major currencies on Friday as renewed worries about possible euro zone sovereign debt restructuring continued to drive a broad pullback from risky trades in commodities, stocks, and high-yielding currencies.
Published 15 May, 2011 12:00am
Key Euribor rates pick up again as growth surprises

Key Euribor rates pick up again as growth surprises

Key euro-priced bank-to-bank lending rates crept higher on Friday as markets focused on whether stronger-than-expected economic growth in the euro zone will prompt the ECB to proceed with further rate hike plans. Germany, Europe's largest economy, grew by
Published 15 May, 2011 12:00am
Canada's dollar down

Canada's dollar down

Canada's dollar hit its weakest level against the greenback in more than six weeks on Friday, driven lower by a broad rally in the safe-haven greenback and a sell-off in the euro as worries about global growth mounted. The euro, a recent barometer of risk
Published 15 May, 2011 12:00am
African currency outlook

African currency outlook

The Kenyan and Ugandan shillings are both seen under pressure next week, with the Kenyan currency likely to flirt with a record low against the dollar, due in part to central bank foreign exchange buying.
Published 15 May, 2011 12:00am
Speculators trim bets against dollar, go long on yen

Speculators trim bets against dollar, go long on yen

Currency speculators trimmed bets against the dollar in the latest week and opened a long position in the yen for the first time in six weeks, data from the Commodity Futures Trading Commission showed on Friday. The value of the dollar's net short positio
Published 15 May, 2011 12:00am
Investors cut bets on yuan, Singapore dollar; turn bearish on rupee

Investors cut bets on yuan, Singapore dollar; turn bearish on rupee

Investors slashed their bets on the Singapore dollar by the most in six months and became less bullish on the yuan, as volatile commodity markets and Greece's debt problems lifted the USD, a monthly Reuters poll showed on Friday. Currency investors turned
Published 15 May, 2011 12:00am
Wall Street's second weekly fall raises fear of retreat

Wall Street's second weekly fall raises fear of retreat

US stocks ended a second week of losses on a down note Friday, reflecting growing worries that stocks are on the precipice of a pullback. Concern about slowed growth world-wide, the coming end of a supportive Federal Reserve policy and the fear of a worse
Published 15 May, 2011 12:00am
US treasury outlook: 'overbought' bond yields may still go lower

US treasury outlook: 'overbought' bond yields may still go lower

A chorus of analysts have deemed Treasuries to be 'overbought,' with yields - especially in the riskier, longer-dated securities - too low to reflect current economic conditions and the inflation outlook. But despite evidence of price pressures and contin
Published 15 May, 2011 12:00am
US treasury outlook: 'overbought' bond yields may still go lower

US treasury outlook: 'overbought' bond yields may still go lower

A chorus of analysts have deemed Treasuries to be 'overbought,' with yields - especially in the riskier, longer-dated securities - too low to reflect current economic conditions and the inflation outlook. But despite evidence of price pressures and contin
Published 15 May, 2011 12:00am
Latam stocks slide to lowest since September

Latam stocks slide to lowest since September

Latin American stocks fell to their lowest since September on Friday as concerns about the global economy and Europe's debt crisis pushed investors to dump riskier assets across the board. The MSCI Latin American index shed 1.41 percent and it notched its
Published 15 May, 2011 12:00am
Italy sells 5.2 billion euros of bonds, yields ease

Italy sells 5.2 billion euros of bonds, yields ease

Italy sold nearly 5.2 billion euros ($7.38 billion) of fixed-rate BTP bonds on Friday paying a slightly lower yield on the two bonds on prospects for a tightening of spreads with German bunds. The Italian Treasury sold 3.413 billion euros of five-year BTP
Published 15 May, 2011 12:00am
Italy sells 5.2 billion euros of bonds, yields ease

Italy sells 5.2 billion euros of bonds, yields ease

Italy sold nearly 5.2 billion euros ($7.38 billion) of fixed-rate BTP bonds on Friday paying a slightly lower yield on the two bonds on prospects for a tightening of spreads with German bunds. The Italian Treasury sold 3.413 billion euros of five-year BTP
Published 15 May, 2011 12:00am
Turkish equities suffer late slump

Turkish equities suffer late slump

Turkish equities suffered a late slump to close at a six-week low on Friday, on fears that the country's banks will be hit with another increase to required reserve ratios, squeezing profits further. The Istanbul share index underperformed a flat emerging
Published 15 May, 2011 12:00am
ADR Report: European banks pressured after Trichet comments

ADR Report: European banks pressured after Trichet comments

Overseas shares traded in the United States fell on Friday as concerns about the global economic growth and Europe's debt crisis prompted investors to sell stocks. European companies traded in the US led losses after hawkish comments from European Central
Published 15 May, 2011 12:00am
A storm gathers over equities markets

A storm gathers over equities markets

The big money is calling a halt to the surge in stock prices. Declines in oil and metals prices are being seen by an increasing number of fund managers and strategists as a signal to get out of riskier areas of the equity market. And that means avoiding t
Published 15 May, 2011 12:00am
Groupama AM sees more downside for stocks

Groupama AM sees more downside for stocks

Groupama Asset Management sees equities retreating in the next few months, dragged down by lacklustre macro data from Europe and the United States, where the end of the Federal Reserve's quantitative easing looms. The Paris-based fund management firm, whi
Published 15 May, 2011 12:00am
Groupama AM sees more downside for stocks

Groupama AM sees more downside for stocks

Groupama Asset Management sees equities retreating in the next few months, dragged down by lacklustre macro data from Europe and the United States, where the end of the Federal Reserve's quantitative easing looms. The Paris-based fund management firm, whi
Published 15 May, 2011 12:00am
Indian bond yields up

Indian bond yields up

Indian federal bond yields ended up on Friday after cut-off yields at a $2.7 billion bond sale were higher -than forecast, and traders expect the volatility in global commodity prices and expectations of more rate increases to continue to weigh. The yield
Published 15 May, 2011 12:00am
Indian bond yields up

Indian bond yields up

Indian federal bond yields ended up on Friday after cut-off yields at a $2.7 billion bond sale were higher -than forecast, and traders expect the volatility in global commodity prices and expectations of more rate increases to continue to weigh. The yield
Published 15 May, 2011 12:00am
China's money market rate jumps

China's money market rate jumps

China's benchmark short-term money market rate spiked up more than 40 basis points on Friday after the People's Bank of China announced a rise in bank reserve requirement ratios (RRR) after the market closed on Thursday. The weighted average seven-day gov
Published 15 May, 2011 12:00am
TSX slides for third week as commodities sag

TSX slides for third week as commodities sag

Toronto's main stock index reversed early gains to finish slightly lower on Friday as volatile commodity prices weighed on the market. Canadian Natural Resources led the blue chip decliners, giving back 1.48 percent to finish at C$39.41. Nexen slid 2.34 p
Published 15 May, 2011 12:00am
Sri Lankan shares at one-week high

Sri Lankan shares at one-week high

Sri Lankan shares rose on Friday for a second session led by large cap oil palms shares like Bukit Darah amid foreign outflows, while the rupee edged up on bank dollar sales. Sri Lanka's main share index closed 0.26 percent or 19.12 points up to 7,319.94,
Published 15 May, 2011 12:00am
French analyst cuts EU wheat crop view on drought

French analyst cuts EU wheat crop view on drought

French analyst Strategie Grains on Thursday cut its forecast for this year's soft wheat crop in the European Union by 3.6 million tonnes to 131.5 million tonnes, mainly due to the impact of drought in the west of the bloc. The new forecast was still 4 per
Published 15 May, 2011 12:00am
Karachi Port's activities

Karachi Port's activities

The Karachi Port handled 73,238 tonnes of cargo including 54,622 tonnes of import cargo, 18,616 tonnes of export cargo and 2,250 loaded & empty containers during last 24 hours ended at 0700 hours on Saturday. The total import cargo of 54,622 tonnes compri
Published 15 May, 2011 12:00am
US wheat futures rise

US wheat futures rise

US wheat futures climbed modestly on Friday, rebounding from a near two-month low as flooding threatened wheat in the US Midwest and dry conditions stressed the crop in the southern US Plains. US soyabean futures fell and corn futures were choppy after cr
Published 15 May, 2011 12:00am
More than 90 percent Ivorian stockpiled cocoa rot-free

More than 90 percent Ivorian stockpiled cocoa rot-free

More than 90 percent of Ivory Coast's stockpiled cocoa has retained its quality despite being stuck in warehouses for over three months during a violent political standoff, exporters said on Friday. The world's leading cocoa producer resumed raw bean expo
Published 15 May, 2011 12:00am
US corn extends gains

US corn extends gains

Chicago corn futures trended up further on Friday as concerns mounted over delays in planting crop in the US Midwest corn belt, while soyabeans and wheat tracked commodity markets, extending gains. Oil, gold and copper rose on Friday as a weaker dollar en
Published 15 May, 2011 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures fell on Friday, following soyabeans down to end with a 1 percent weekly loss. Despite Manitoba flooding, concerns about planting delays easing with dry weekend forecast and progress in Alberta and western Saskatchewan - traders
Published 15 May, 2011 12:00am
US Midwest bids for corn, soya firm

US Midwest bids for corn, soya firm

Cash basis bids for corn and soyabeans were steady to firm in the US Midwest on Friday because producer selling remained at a near standstill, dealers said. Fieldwork and a drop in cash prices since mid-April have halted most farmer selling. Cash corn pri
Published 15 May, 2011 12:00am
Plastic mouldings down on Jodia Bazaar

Plastic mouldings down on Jodia Bazaar

The trading in plastic moulding compounds ended down on Jodia Bazaar here on Saturday. The following changes were observed.
Published 15 May, 2011 12:00am
Resumption of activities helps stabilise prices on cotton market

Resumption of activities helps stabilise prices on cotton market

Moderate activity was seen on the cotton market on Saturday as mills came back to make new purchasing, resumption of activity caused stability in the rates, some brokers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 8,5
Published 15 May, 2011 12:00am
Oil cake markets rates

Oil cake markets rates

The May vaida was higher on the forward cottonseed oilcake market on Saturday in process of trading, dealers said. The May vaida that had closed at Rs 1333.50 opened with a gain of 30 paisa at Rs 1333.80. The July vaida commenced with no change at Rs 1421
Published 15 May, 2011 12:00am
Rice prices turn higher on grain market

Rice prices turn higher on grain market

Rice prices were higher on the wholesales grain market on Saturday as rice exporters showed fresh interest in purchasing, dealers said. Only one change was seen on the rice sector, Irri-6 Sindh low type was up by Rs 75 to Rs 3550 and superior type followe
Published 15 May, 2011 12:00am
Shanghai gold exchange to cut silver margin requirements

Shanghai gold exchange to cut silver margin requirements

The Shanghai Gold Exchange (SGE) will cut silver margin requirements back to 18 percent from 19 percent from May 13 settlements if there is no sharp movement in prices, it said on Friday. The SGE has hiked margin requirements for its silver forward contra
Published 15 May, 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 15 May, 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 15 May, 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 (May 14, 2011).

Published 15 May, 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 (May 14, 2011).

Published 15 May, 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 (May 14, 2011).

Published 15 May, 2011 12:00am
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