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Archive - 2011-05-20
European stocks retreat
Financial

European stocks retreat

LONDON : European stock markets retreated on Friday at the end of a volatile week for equities, with Greece's debt prob
Published 20 May, 2011 05:28pm
SBP's directive to banks
Top News

SBP's directive to banks

KARACHI : The State Bank of Pakistan (SBP) has advised the banks/ DFIs to make 40 per cent payment of second installment
Published 20 May, 2011 04:40pm
Imran demands midterm election
Pakistan

Imran demands midterm election

KARACHI : Chairman Pakistan Tehreek-e-Insaf Imran Khan has appealed people to participate in a sit-in protest at Nati
Published 20 May, 2011 04:34pm
European stocks close lower
Financial

European stocks close lower

LONDON: European stocks markets ended down on Friday, with London's FTSE 100 index of leading shares off 0.15 percent at
Published 20 May, 2011 04:23pm
Fitch downgrades Greece rating to B+
Top News

Fitch downgrades Greece rating to B+

PARIS : Fitch Ratings on Friday slashed Greece's credit ratings by three notches to B+ due to the massive challenges of
Published 20 May, 2011 03:43pm
Ringgit, won lead gain
Financial

Ringgit, won lead gain

SINGAPORE : The Malaysian ringgit and the South Korean won led gains on Friday, helped by exporters and as speculators e
Published 20 May, 2011 02:18pm
Europe leads world stocks up
Financial

Europe leads world stocks up

LONDON : World stocks and oil prices rose on Friday as the dollar lost ground broadly, after weak US economic data rei
Published 20 May, 2011 02:00pm
Monetary policy on Saturday
Top News

Monetary policy on Saturday

KARACHI : The State Bank of Pakistan (SBP) will announce its monetary policy here on Saturday for the next two months.
Published 20 May, 2011 01:04pm
Oil rebounds in Asian trade
Energy

Oil rebounds in Asian trade

SINGAPORE: Oil rebounded in Asian trade Friday as traders bought cheaper crude after prices fell sharply the previous da
Published 20 May, 2011 03:47am
MPS: Think beyond pricing
BR Research

MPS: Think beyond pricing

The improved current account situation, relatively subdued inflation and some circumspect in government note printing is likely to tilt the
Published 20 May, 2011 12:00am
The incessant PTCL-Etisalat saga
BR Research

The incessant PTCL-Etisalat saga

It has been over three years since the Government of Pakistan (GOP) has been trying to get Etisalat to pay up, but to no avail. Etisalat b
Published 20 May, 2011 12:00am
T-bills back to square one
BR Research

T-bills back to square one

When it comes to gathering information about market behaviour, nothing can be more accessible and resourceful than T-bill auction results, w
Published 20 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 20 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 20 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 Thursday (May 19, 2011).

Published 20 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 Thursday (May 19, 2011).

Published 20 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 Thursday (May 19, 2011).

Published 20 May, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Thursday (May 19, 2011).

Published 20 May, 2011 12:00am
Palestinian state based on 1967 borders: Obama

Palestinian state based on 1967 borders: Obama

President Barack Obama declared Thursday that the borders of Israel and a Palestinian state must be based on 1967 lines, likely setting up a new clash with Israeli Prime Minister Benjamin Netanyahu. In a long-awaited survey of the "Arab spring" of revolts
Published 20 May, 2011 12:00am
Palestinian state based on 1967 borders: Obama

Palestinian state based on 1967 borders: Obama

President Barack Obama declared Thursday that the borders of Israel and a Palestinian state must be based on 1967 lines, likely setting up a new clash with Israeli Prime Minister Benjamin Netanyahu. In a long-awaited survey of the "Arab spring" of revolts
Published 20 May, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (May 19, 2011).
Published 20 May, 2011 12:00am
US quietly expanding defence ties with Saudis

US quietly expanding defence ties with Saudis

Despite their deepening political divide, the United States and Saudi Arabia are quietly expanding defence ties on a vast scale, led by a little-known project to develop an elite force to protect the kingdom's oil riches and future nuclear sites.
Published 20 May, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (May 19, 2011).

Published 20 May, 2011 12:00am
US quietly expanding defence ties with Saudis

US quietly expanding defence ties with Saudis

Despite their deepening political divide, the United States and Saudi Arabia are quietly expanding defence ties on a vast scale, led by a little-known project to develop an elite force to protect the kingdom's oil riches and future nuclear sites.
Published 20 May, 2011 12:00am
Prime Minister seeks investment in energy sector

Prime Minister seeks investment in energy sector

Prime minister Yousuf Raza Gilani Thursday called on Chinese firms to invest in his country's energy sector, in a bid to boost a moribund economy hit by massive floods last year and weak Western investment. "There is great potential for the participation
Published 20 May, 2011 12:00am
Prime Minister seeks investment in energy sector

Prime Minister seeks investment in energy sector

Prime minister Yousuf Raza Gilani Thursday called on Chinese firms to invest in his country's energy sector, in a bid to boost a moribund economy hit by massive floods last year and weak Western investment. "There is great potential for the participation
Published 20 May, 2011 12:00am
Prime Minister seeks investment in energy sector

Prime Minister seeks investment in energy sector

Prime minister Yousuf Raza Gilani Thursday called on Chinese firms to invest in his country''s energy sector, in a bid to boost a moribund economy hit by massive floods last year and weak Western investment. "There is great potential for the participation
Published 20 May, 2011 12:00am
Circular debt swells to Rs 218 billion

Circular debt swells to Rs 218 billion

Energy sector's circular debt has reportedly reached Rs 218 billion, in addition to Rs about 280 billion already on the books of Power Holding Company Limited (PHCL). Out of this total Rs 121 billion is payable to Independent Power Producers (IPPs) that a
Published 20 May, 2011 12:00am
Circular debt swells to Rs 218 billion

Circular debt swells to Rs 218 billion

Energy sector's circular debt has reportedly reached Rs 218 billion, in addition to Rs about 280 billion already on the books of Power Holding Company Limited (PHCL). Out of this total Rs 121 billion is payable to Independent Power Producers (IPPs) that a
Published 20 May, 2011 12:00am
Circular debt swells to Rs 218 billion

Circular debt swells to Rs 218 billion

Energy sector''s circular debt has reportedly reached Rs 218 billion, in addition to Rs about 280 billion already on the books of Power Holding Company Limited (PHCL). Out of this total Rs 121 billion is payable to Independent Power Producers (IPPs) that
Published 20 May, 2011 12:00am
China vows to help Pakistan overcome economic difficulties

China vows to help Pakistan overcome economic difficulties

China said that it will take various measures to help salvage Pakistan from economic difficulties as the south Asian country was facing challenges from fighting terrorism and extremism, said the Foreign Ministry Spokesperson Jiang Yu here Thursday.
Published 20 May, 2011 12:00am
China vows to help Pakistan overcome economic difficulties

China vows to help Pakistan overcome economic difficulties

China said that it will take various measures to help salvage Pakistan from economic difficulties as the south Asian country was facing challenges from fighting terrorism and extremism, said the Foreign Ministry Spokesperson Jiang Yu here Thursday.
Published 20 May, 2011 12:00am
China vows to help Pakistan overcome economic difficulties

China vows to help Pakistan overcome economic difficulties

China said that it will take various measures to help salvage Pakistan from economic difficulties as the south Asian country was facing challenges from fighting terrorism and extremism, said the Foreign Ministry Spokesperson Jiang Yu here Thursday.
Published 20 May, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (May 19, 2011).

Published 20 May, 2011 12:00am
Ecnec to approve Gwadar port project

Ecnec to approve Gwadar port project

The Executive Committee of the National Economic Council (ECNEC) is to approve Gwadar Deep Water Port Project with the revised cost of Rs 16.675 billion. ECNEC is expected to meet prior to the announcement of federal budget 2011-12 and National Economic C
Published 20 May, 2011 12:00am
Ecnec to approve Gwadar port project

Ecnec to approve Gwadar port project

The Executive Committee of the National Economic Council (ECNEC) is to approve Gwadar Deep Water Port Project with the revised cost of Rs 16.675 billion. ECNEC is expected to meet prior to the announcement of federal budget 2011-12 and National Economic C
Published 20 May, 2011 12:00am
Ecnec to approve Gwadar port project

Ecnec to approve Gwadar port project

The Executive Committee of the National Economic Council (ECNEC) is to approve Gwadar Deep Water Port Project with the revised cost of Rs 16.675 billion. ECNEC is expected to meet prior to the announcement of federal budget 2011-12 and National Economic C
Published 20 May, 2011 12:00am
IMF chief resigns, Lagarde heads race

IMF chief resigns, Lagarde heads race

French Finance Minister Christine Lagarde emerged as frontrunner on Thursday to succeed Dominique Strauss-Kahn as head of the IMF after he resigned and vowed to fight charges of sexually assaulting a hotel maid. His letter of resignation, tendered from a
Published 20 May, 2011 12:00am
IMF chief resigns, Lagarde heads race

IMF chief resigns, Lagarde heads race

French Finance Minister Christine Lagarde emerged as frontrunner on Thursday to succeed Dominique Strauss-Kahn as head of the IMF after he resigned and vowed to fight charges of sexually assaulting a hotel maid. His letter of resignation, tendered from a
Published 20 May, 2011 12:00am
IMF chief resigns, Lagarde heads race

IMF chief resigns, Lagarde heads race

French Finance Minister Christine Lagarde emerged as frontrunner on Thursday to succeed Dominique Strauss-Kahn as head of the IMF after he resigned and vowed to fight charges of sexually assaulting a hotel maid. His letter of resignation, tendered from a
Published 20 May, 2011 12:00am
Strauss-Kahn granted bail

Strauss-Kahn granted bail

Dominique Strauss-Kahn was granted bail by a New York judge on Thursday, and the former IMF chief has vowed to fight charges that he tried to rape a hotel maid in Manhattan. New York State Supreme Court Judge Michael Obus said that Strauss-Kahn, 62, can b
Published 20 May, 2011 12:00am
Strauss-Kahn granted bail

Strauss-Kahn granted bail

Dominique Strauss-Kahn was granted bail by a New York judge on Thursday, and the former IMF chief has vowed to fight charges that he tried to rape a hotel maid in Manhattan. New York State Supreme Court Judge Michael Obus said that Strauss-Kahn, 62, can b
Published 20 May, 2011 12:00am
Strauss-Kahn granted bail

Strauss-Kahn granted bail

Dominique Strauss-Kahn was granted bail by a New York judge on Thursday, and the former IMF chief has vowed to fight charges that he tried to rape a hotel maid in Manhattan. New York State Supreme Court Judge Michael Obus said that Strauss-Kahn, 62, can b
Published 20 May, 2011 12:00am
Grossman calls on Zardari, Kayani

Grossman calls on Zardari, Kayani

US Special representative for Afghanistan and Pakistan Ambassador Marc Grossman called on President Asif Ali Zardari at Aiwan-e-Sadr on Thursday. US Ambassador in Islamabad Cameron P Munter was also present during the meeting besides other US officials.
Published 20 May, 2011 12:00am
Grossman calls on Zardari, Kayani

Grossman calls on Zardari, Kayani

US Special representative for Afghanistan and Pakistan Ambassador Marc Grossman called on President Asif Ali Zardari at Aiwan-e-Sadr on Thursday. US Ambassador in Islamabad Cameron P Munter was also present during the meeting besides other US officials.
Published 20 May, 2011 12:00am
APTTA will be operational from June 12

APTTA will be operational from June 12

Pakistan and Afghanistan are set to operationalise Afghan-Pakistan Transit Trade Agreement (APTTA) from June 12 as both sides have amicably resolved the issue of financial guarantee and its approval would be sought from Afghan Pakistan Transit Trade Co-or
Published 20 May, 2011 12:00am
APTTA will be operational from June 12

APTTA will be operational from June 12

Pakistan and Afghanistan are set to operationalise Afghan-Pakistan Transit Trade Agreement (APTTA) from June 12 as both sides have amicably resolved the issue of financial guarantee and its approval would be sought from Afghan Pakistan Transit Trade Co-or
Published 20 May, 2011 12:00am
APTTA will be operational from June 12

APTTA will be operational from June 12

Pakistan and Afghanistan are set to operationalise Afghan-Pakistan Transit Trade Agreement (APTTA) from June 12 as both sides have amicably resolved the issue of financial guarantee and its approval would be sought from Afghan Pakistan Transit Trade Co-or
Published 20 May, 2011 12:00am
Mukhtar Mai challenges Supreme Court verdict: criminal review plea filed

Mukhtar Mai challenges Supreme Court verdict: criminal review plea filed

A criminal review petition has been filed in the Supreme Court wherein Mukhtar Mai challenged the apex court verdict through her counsel Barrister Aitzaz Ahsan, praying to form a larger bench on Thursday. Mukhtar Mai case was initially registered against
Published 20 May, 2011 12:00am
Mukhtar Mai challenges Supreme Court verdict: criminal review plea filed

Mukhtar Mai challenges Supreme Court verdict: criminal review plea filed

A criminal review petition has been filed in the Supreme Court wherein Mukhtar Mai challenged the apex court verdict through her counsel Barrister Aitzaz Ahsan, praying to form a larger bench on Thursday. Mukhtar Mai case was initially registered against
Published 20 May, 2011 12:00am
Exports cross $20 billion mark in July-April fiscal year 2011

Exports cross $20 billion mark in July-April fiscal year 2011

Pakistan's exports, first time ever in the country's history, have crossed the $20 billion mark in the first 10 months of the current financial year. According to the latest trade figures, exports from Pakistan during April, 2011 were $2.377 billion, whic
Published 20 May, 2011 12:00am
Exports cross $20 billion mark in July-April fiscal year 2011

Exports cross $20 billion mark in July-April fiscal year 2011

Pakistan's exports, first time ever in the country's history, have crossed the $20 billion mark in the first 10 months of the current financial year. According to the latest trade figures, exports from Pakistan during April, 2011 were $2.377 billion, whic
Published 20 May, 2011 12:00am
Exports cross $20 billion mark in July-April fiscal year 2011

Exports cross $20 billion mark in July-April fiscal year 2011

Pakistan''s exports, first time ever in the country''s history, have crossed the $20 billion mark in the first 10 months of the current financial year. According to the latest trade figures, exports from Pakistan during April, 2011 were $2.377 billion, wh
Published 20 May, 2011 12:00am
Index sheds 5.8 points

Index sheds 5.8 points

The Karachi share market witnessed another dull session on Thursday due to investors' lack of interest ahead of announcement of monitory policy. The benchmark KSE-100 index after moving both sides finally closed at 11,878.81 points, down 5.80 points. Trad
Published 20 May, 2011 12:00am
Index sheds 5.8 points

Index sheds 5.8 points

The Karachi share market witnessed another dull session on Thursday due to investors' lack of interest ahead of announcement of monitory policy. The benchmark KSE-100 index after moving both sides finally closed at 11,878.81 points, down 5.80 points. Trad
Published 20 May, 2011 12:00am
Index sheds 5.8 points

Index sheds 5.8 points

The Karachi share market witnessed another dull session on Thursday due to investors'' lack of interest ahead of announcement of monitory policy. The benchmark KSE-100 index after moving both sides finally closed at 11,878.81 points, down 5.80 points. Tra
Published 20 May, 2011 12:00am
BRIndex30 down by 12.29 points

BRIndex30 down by 12.29 points

On Thursday, BRIndex30 opened at 8,571.56. It touched an intraday high of 8,604.70 and an intraday low of 8,559.27 and closed at 8,559.27 which was -12.29 points or -0.14 percent lower than previous close. Total volume was 26,520,483, which was 66.16 perc
Published 20 May, 2011 12:00am
BRIndex30 down by 12.29 points

BRIndex30 down by 12.29 points

On Thursday, BRIndex30 opened at 8,571.56. It touched an intraday high of 8,604.70 and an intraday low of 8,559.27 and closed at 8,559.27 which was -12.29 points or -0.14 percent lower than previous close. Total volume was 26,520,483, which was 66.16 perc
Published 20 May, 2011 12:00am
DI&I reveals: FBR detects companies issuing Rs 15 billion fake invoices

DI&I reveals: FBR detects companies issuing Rs 15 billion fake invoices

Director Intelligence and Investigation (DI&I), Federal Board of Revenue (FBR), Amer Ahmed has said that the department has detected companies, which issued fake invoices wroth Rs 15 billion. Speaking at a meeting of Karachi Chamber of Commerce and Indust
Published 20 May, 2011 12:00am
DI&I reveals: FBR detects companies issuing Rs 15 billion fake invoices

DI&I reveals: FBR detects companies issuing Rs 15 billion fake invoices

Director Intelligence and Investigation (DI&I), Federal Board of Revenue (FBR), Amer Ahmed has said that the department has detected companies, which issued fake invoices wroth Rs 15 billion. Speaking at a meeting of Karachi Chamber of Commerce and Indust
Published 20 May, 2011 12:00am
DI&I reveals: FBR detects companies issuing Rs 15 billion fake invoices

DI&I reveals: FBR detects companies issuing Rs 15 billion fake invoices

Director Intelligence and Investigation (DI&I), Federal Board of Revenue (FBR), Amer Ahmed has said that the department has detected companies, which issued fake invoices wroth Rs 15 billion. Speaking at a meeting of Karachi Chamber of Commerce and Indust
Published 20 May, 2011 12:00am
Audit detects $23.11 million loss in sugar deals

Audit detects $23.11 million loss in sugar deals

The Auditor-General of Pakistan has detected US $23.11 million (roundabout Rs 2 billion) loss to national exchequer due to (i) failure to open an L/C against a sugar contract and (ii) non-revival of a sugar contract. According to Audit Report-2010-11 avai
Published 20 May, 2011 12:00am
Audit detects $23.11 million loss in sugar deals

Audit detects $23.11 million loss in sugar deals

The Auditor-General of Pakistan has detected US $23.11 million (roundabout Rs 2 billion) loss to national exchequer due to (i) failure to open an L/C against a sugar contract and (ii) non-revival of a sugar contract. According to Audit Report-2010-11 avai
Published 20 May, 2011 12:00am
Audit detects $23.11 million loss in sugar deals

Audit detects $23.11 million loss in sugar deals

The Auditor-General of Pakistan has detected US $23.11 million (roundabout Rs 2 billion) loss to national exchequer due to (i) failure to open an L/C against a sugar contract and (ii) non-revival of a sugar contract. According to Audit Report-2010-11 avai
Published 20 May, 2011 12:00am
IMF not buying government narrative on RGST

IMF not buying government narrative on RGST

The International Monetary Fund (IMF) is unlikely to be satisfied with any further delay (beyond fiscal year 2011-12) in the implementation of the Reformed General Sales tax (RGST) contrary to the claim of the Ministry of Finance, it was reliably learnt.
Published 20 May, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 20 May, 2011 12:00am
IMF not buying government narrative on RGST

IMF not buying government narrative on RGST

The International Monetary Fund (IMF) is unlikely to be satisfied with any further delay (beyond fiscal year 2011-12) in the implementation of the Reformed General Sales tax (RGST) contrary to the claim of the Ministry of Finance, it was reliably learnt.
Published 20 May, 2011 12:00am
IMF not buying government narrative on RGST

IMF not buying government narrative on RGST

The International Monetary Fund (IMF) is unlikely to be satisfied with any further delay (beyond fiscal year 2011-12) in the implementation of the Reformed General Sales tax (RGST) contrary to the claim of the Ministry of Finance, it was reliably learnt.
Published 20 May, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 20 May, 2011 12:00am
IMF unhappy over changes in SBP law

IMF unhappy over changes in SBP law

The International Monetary Fund (IMF) has reportedly conveyed serious concerns over State Bank of Pakistan (SBP) Amendment Bill 2010 in the present shape after amendments in the originally proposed law, it was learnt. Besides, the sources said, IMF has al
Published 20 May, 2011 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 20 May, 2011 12:00am
IMF unhappy over changes in SBP law

IMF unhappy over changes in SBP law

The International Monetary Fund (IMF) has reportedly conveyed serious concerns over State Bank of Pakistan (SBP) Amendment Bill 2010 in the present shape after amendments in the originally proposed law, it was learnt. Besides, the sources said, IMF has al
Published 20 May, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 20 May, 2011 12:00am
IMF unhappy over changes in SBP law

IMF unhappy over changes in SBP law

The International Monetary Fund (IMF) has reportedly conveyed serious concerns over State Bank of Pakistan (SBP) Amendment Bill 2010 in the present shape after amendments in the originally proposed law, it was learnt. Besides, the sources said, IMF has al
Published 20 May, 2011 12:00am
FCAs, textile loans: SBP unveils new reporting mechanism

FCAs, textile loans: SBP unveils new reporting mechanism

The State Bank of Pakistan (SBP) has introduced new reporting procedures for foreign currency account (FCAs) and loan to textile sector. The State bank on Thursday issued two different circulars. In a circular EPD No 03/EPP 16 (326) FCA-2011, the SBP has
Published 20 May, 2011 12:00am
FCAs, textile loans: SBP unveils new reporting mechanism

FCAs, textile loans: SBP unveils new reporting mechanism

The State Bank of Pakistan (SBP) has introduced new reporting procedures for foreign currency account (FCAs) and loan to textile sector. The State bank on Thursday issued two different circulars. In a circular EPD No 03/EPP 16 (326) FCA-2011, the SBP has
Published 20 May, 2011 12:00am
FCAs, textile loans: SBP unveils new reporting mechanism

FCAs, textile loans: SBP unveils new reporting mechanism

The State Bank of Pakistan (SBP) has introduced new reporting procedures for foreign currency account (FCAs) and loan to textile sector. The State bank on Thursday issued two different circulars. In a circular EPD No 03/EPP 16 (326) FCA-2011, the SBP has
Published 20 May, 2011 12:00am
Inquiry ordered into killing of five Chechens

Inquiry ordered into killing of five Chechens

Provincial government on Thursday ordered an inquiry into the killing by security forces of five Chechens, including three women, after media said they had been unarmed. The group was killed this week, with authorities saying they were al Qaeda-linked sui
Published 20 May, 2011 12:00am
Inquiry ordered into killing of five Chechens

Inquiry ordered into killing of five Chechens

Provincial government on Thursday ordered an inquiry into the killing by security forces of five Chechens, including three women, after media said they had been unarmed. The group was killed this week, with authorities saying they were al Qaeda-linked sui
Published 20 May, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (May 19, 2011).

Published 20 May, 2011 12:00am
36 dead as Taliban attack Afghan road company

36 dead as Taliban attack Afghan road company

The Taliban attacked an Afghan road construction company early Thursday, triggering an hours-long firefight that killed 36 people and wounded another 20 in the worst single attack for months. The attack happened in the eastern province of Paktia, which bo
Published 20 May, 2011 12:00am
36 dead as Taliban attack Afghan road company

36 dead as Taliban attack Afghan road company

The Taliban attacked an Afghan road construction company early Thursday, triggering an hours-long firefight that killed 36 people and wounded another 20 in the worst single attack for months. The attack happened in the eastern province of Paktia, which bo
Published 20 May, 2011 12:00am
Only 22 percent work completed on Neelum Jhelum hydel power project

Only 22 percent work completed on Neelum Jhelum hydel power project

The pace of work on the important Neelum Jhelum hydroelectric project is very slow, as only 22 per cent work has been completed so far against the targeted 50 per cent. The detailed feasibility study of the 969 MW project was completed in 1997 and the rev
Published 20 May, 2011 12:00am
Only 22 percent work completed on Neelum Jhelum hydel power project

Only 22 percent work completed on Neelum Jhelum hydel power project

The pace of work on the important Neelum Jhelum hydroelectric project is very slow, as only 22 per cent work has been completed so far against the targeted 50 per cent. The detailed feasibility study of the 969 MW project was completed in 1997 and the rev
Published 20 May, 2011 12:00am
THE RUPEE: dollar moves both ways

THE RUPEE: dollar moves both ways

The rupee moved both ways on the currency market on Thursday in process of higher demand for dollars as the US currency crossed the high mark of 86 on the open market in the early hours, dealers said. The rupee shed four paisa in terms of dollar for buyin
Published 20 May, 2011 12:00am
Only 22 percent work completed on Neelum Jhelum hydel power project

Only 22 percent work completed on Neelum Jhelum hydel power project

The pace of work on the important Neelum Jhelum hydroelectric project is very slow, as only 22 per cent work has been completed so far against the targeted 50 per cent. The detailed feasibility study of the 969 MW project was completed in 1997 and the rev
Published 20 May, 2011 12:00am
THE RUPEE: dollar moves both ways

THE RUPEE: dollar moves both ways

The rupee moved both ways on the currency market on Thursday in process of higher demand for dollars as the US currency crossed the high mark of 86 on the open market in the early hours, dealers said. The rupee shed four paisa in terms of dollar for buyin
Published 20 May, 2011 12:00am
Long-term policy needed to arrest shrinking agricultural sector: SDPI

Long-term policy needed to arrest shrinking agricultural sector: SDPI

The monetary value of agriculture sector during the last five years has increased by Rs 810.292 billion to Rs 5,670.77 billion, as it was Rs 4,860.477 billion in 2006. But, in real terms, it is declining. According to monthly economic bulletin of Sustaina
Published 20 May, 2011 12:00am
Long-term policy needed to arrest shrinking agricultural sector: SDPI

Long-term policy needed to arrest shrinking agricultural sector: SDPI

The monetary value of agriculture sector during the last five years has increased by Rs 810.292 billion to Rs 5,670.77 billion, as it was Rs 4,860.477 billion in 2006. But, in real terms, it is declining. According to monthly economic bulletin of Sustaina
Published 20 May, 2011 12:00am
UAE buyer purchases 40,000 tonnes of wheat from Pakistan

UAE buyer purchases 40,000 tonnes of wheat from Pakistan

A flour mill in the United Arab Emirates has purchased 40,000 tonnes of milling wheat from Pakistan in a tender for the same volume, which closed on Tuesday, European traders said on Thursday. The price was said to be between $345 and $350 a tonne c&f. Th
Published 20 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (May 19, 2011).

Published 20 May, 2011 12:00am
UAE buyer purchases 40,000 tonnes of wheat from Pakistan

UAE buyer purchases 40,000 tonnes of wheat from Pakistan

A flour mill in the United Arab Emirates has purchased 40,000 tonnes of milling wheat from Pakistan in a tender for the same volume, which closed on Tuesday, European traders said on Thursday. The price was said to be between $345 and $350 a tonne c&f. Th
Published 20 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (May 19, 2011).

Published 20 May, 2011 12:00am
UAE buyer purchases 40,000 tonnes of wheat from Pakistan

UAE buyer purchases 40,000 tonnes of wheat from Pakistan

A flour mill in the United Arab Emirates has purchased 40,000 tonnes of milling wheat from Pakistan in a tender for the same volume, which closed on Tuesday, European traders said on Thursday. The price was said to be between $345 and $350 a tonne c&f. Th
Published 20 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 Thursday (May 19, 2011).

Published 20 May, 2011 12:00am
Talks on Sir Creek issue: Indian defence delegation arrives

Talks on Sir Creek issue: Indian defence delegation arrives

An eight-member Indian defence delegation, led by S Subba Rao, Surveyor General of India, on Thursday arrived on a 3-day visit. The delegation was received by senior officials of Ministry of Defence and other officials at the Wagha border on Thursday morn
Published 20 May, 2011 12:00am
Talks on Sir Creek issue: Indian defence delegation arrives

Talks on Sir Creek issue: Indian defence delegation arrives

An eight-member Indian defence delegation, led by S Subba Rao, Surveyor General of India, on Thursday arrived on a 3-day visit. The delegation was received by senior officials of Ministry of Defence and other officials at the Wagha border on Thursday morn
Published 20 May, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (May 19, 2011).

Published 20 May, 2011 12:00am
Fixed sales tax on POL products suggested

Fixed sales tax on POL products suggested

Top tax experts have proposed collection of fixed sale tax on petroleum products to minimise its inflationary impact in view of rising oil prices in the international market.
Published 20 May, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Thursday (May 19, 2011) and for Friday (May 20, 2011).
Published 20 May, 2011 12:00am
Fixed sales tax on POL products suggested

Fixed sales tax on POL products suggested

Top tax experts have proposed collection of fixed sale tax on petroleum products to minimise its inflationary impact in view of rising oil prices in the international market.
Published 20 May, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (May 19, 2011).

Published 20 May, 2011 12:00am
Fixed sales tax on POL products suggested

Fixed sales tax on POL products suggested

Top tax experts have proposed collection of fixed sale tax on petroleum products to minimise its inflationary impact in view of rising oil prices in the international market.
Published 20 May, 2011 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 20 May, 2011 12:00am
Movement of foreigners be regularised: Rehman

Movement of foreigners be regularised: Rehman

A Rehman Malik Federal Interior Minister, chairing high level meeting here on Thursday, said that movement of foreigners would be regularised and any foreigner/ diplomat will be sent back to his station of duty if he was found without legal permit of visi
Published 20 May, 2011 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 20 May, 2011 12:00am
Movement of foreigners be regularised: Rehman

Movement of foreigners be regularised: Rehman

A Rehman Malik Federal Interior Minister, chairing high level meeting here on Thursday, said that movement of foreigners would be regularised and any foreigner/ diplomat will be sent back to his station of duty if he was found without legal permit of visi
Published 20 May, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (May 19, 2011).

Published 20 May, 2011 12:00am
Al Qaeda releases post-humous bin Laden audio recording

Al Qaeda releases post-humous bin Laden audio recording

Al Qaeda released a posthumous audio recording by Osama bin Laden in which he praised revolutions sweeping through several Arab countries, and called for more Muslim "tyrants" to be toppled. Islamists have conspicuously been absent in the uprisings in the
Published 20 May, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (May 19, 2011).

Published 20 May, 2011 12:00am
Sikhs charged in Germany for planning terrorist attacks

Sikhs charged in Germany for planning terrorist attacks

German prosecutors on Thursday charged five Sikh men with being members of an international terrorist group, and accused three of them of allegedly plotting to kill political opponents in Austria and India. The men, aged between 31 and 41 years and of Ind
Published 20 May, 2011 12:00am
The Weather

The Weather

The weather report on Thursday (May 19, 2011) and the forecast for Friday (May 20, 2011).

Published 20 May, 2011 12:00am
'It's a very good place to invest'

'It's a very good place to invest'

United Kingdom's Minister for South Asia, Alistair Burt, in an exclusive talk with the Business Recorder, states that Pakistan must help itself by creating the right environment for investment and people would then come in by way of trade. British
Published 20 May, 2011 12:00am
Alternate energy policy draft to be launched in June

Alternate energy policy draft to be launched in June

The draft of new alternate energy policy, which included other renewable resources, is ready and will be launched in June this year. This was stated by the CEO Alternate Energy Development Board (AEDB) Arif Alauddin while talking to media persons on the 3
Published 20 May, 2011 12:00am
Information Ministry holds event on WTIS Day

Information Ministry holds event on WTIS Day

To commemorate World Telecom and Information Society (WTIS) Day 2011, Ministry of Information Technology in collaboration with Telecom Industry and Universal Service Fund held a grand event here, which was attended by prominent personalities from all sect
Published 20 May, 2011 12:00am
Heat wave to continue for next few days: Met office

Heat wave to continue for next few days: Met office

The prevailing heat wave in the country would continue for the next few days, said the Pakistan Meteorological Department here on Thursday. According to the met office analysis, seasonal low lies over Balochistan and adjoining areas; however, a western di
Published 20 May, 2011 12:00am
MQM AJK reveals 28-point election manifesto

MQM AJK reveals 28-point election manifesto

Muttahida Qaumi Movement (MQM) on Thursday revealed 28-point election manifesto 2011 for Azad Jammu and Kashmir (AJK) aimed at empowering the people, besides announcing nomination of its candidates from all constituencies of AJK's coming election.
Published 20 May, 2011 12:00am
Shahbaz hails China for unwavering support of Pakistan

Shahbaz hails China for unwavering support of Pakistan

Punjab Chief Minister Shahbaz Sharif has said that the people of Pakistan are grateful to China for the statement of Chinese Prime Minister in support of Pakistan and its sovereignty.
Published 20 May, 2011 12:00am
Better pricing structure in new gas policy: Dr Asim

Better pricing structure in new gas policy: Dr Asim

Dr Asim, Minister for Petroleum has approved and signed the "Tight Gas Policy" and said that the government is concentrating its efforts on exploration and extraction of gas to overcome the energy-shortage in the country. He said this while chairing a mee
Published 20 May, 2011 12:00am
Conducting blasphemy contest: LHC moved for permanent ban on Facebook

Conducting blasphemy contest: LHC moved for permanent ban on Facebook

Lahore High Court here Thursday summoned representative of Ministry of Information Technology for May 24 in a petition seeking permanent ban on access to Facebook. The court also handed over a copy of the petition to Deputy Attorney, General Zia-ul-Qamar
Published 20 May, 2011 12:00am
JSCL Board decides to divest its subsidiary

JSCL Board decides to divest its subsidiary

The Board of Directors of Jahangir Siddiqui and Company Limited (JSCL) has decided to dispose of the entire investment of the company comprising 21,245,184 ordinary shares of the face value of Rs 10 each which is 70.82 percent of the total paid-up capital
Published 20 May, 2011 12:00am
JSCL Board decides to divest its subsidiary

JSCL Board decides to divest its subsidiary

The Board of Directors of Jahangir Siddiqui and Company Limited (JSCL) has decided to dispose of the entire investment of the company comprising 21,245,184 ordinary shares of the face value of Rs 10 each which is 70.82 percent of the total paid-up capital
Published 20 May, 2011 12:00am
Free market mechanism boosted textile exports: APTMA

Free market mechanism boosted textile exports: APTMA

The APTMA pursued free market mechanism, put in place by the government last November, has not only helped transferring Rs 350 billion to the cotton growers but also given boost to textile exports by 47 percent during first 10 months of current fiscal yea
Published 20 May, 2011 12:00am
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