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Archive - 2011-05-26
Gold eases at Rs42,171
Markets

Gold eases at Rs42,171

KARACHI: Gold slipped by Rs86 to close at Rs42,171 per 10 grams in local bullion market Thursday, as its international
Published 26 May, 2011 05:25pm
Manmohan Singh arrives in Tanzania
Top News

Manmohan Singh arrives in Tanzania

DAR ES SALAAM : India n Prime Minister Manmohan Singh arrived in Tanzania's commercial capital Thursday for a visit exp
Published 26 May, 2011 02:38pm
LePad shortage concerns
Financial

LePad shortage concerns

HONG KONG : Returning corporate demand helped Lenovo report earnings that beat expectations with a three-fold increas
Published 26 May, 2011 11:54am
Japan's Honda to boost India production
Top News

Japan's Honda to boost India production

MUMBAI: Japan's Honda Motor Company on Thursday said it plans to more than double production capacity in India, announci
Published 26 May, 2011 09:50am
World oil prices drop slightly
Energy

World oil prices drop slightly

LONDON: The crude oil market drifted lower on Thursday as traders banked their profits after two straight days of gains.
Published 26 May, 2011 09:45am
Forex reserves rise to $17.07bn
Top News

Forex reserves rise to $17.07bn

KARACHI : Foreign exchange reserves rose to $17.07 billion in the week ending May 21, from $16.97 billion the previous w
Published 26 May, 2011 08:22am
KSE ends on 3-1/2 month high
Top News

KSE ends on 3-1/2 month high

KARACHI : Karachi Stock Exchange (KSE) ended on a three-and-a-half-month high on Thursday amid hopes of a removal of a
Published 26 May, 2011 12:00am
Size does matter
BR Research

Size does matter

With smaller banks at a relative disadvantage due to limited reach and weaker margins, the financial performance of minor lenders is a far c
Published 26 May, 2011 12:00am
PIBs auctions: Rs 27.9 billion bids accepted

PIBs auctions: Rs 27.9 billion bids accepted

The State Bank of Pakistan on Wednesday conducted auction of Pakistan Investment Bonds (PIBs) and accepted bids worth Rs 27.999 billion with a realised amount of Rs 25.82 billion. The SBP received Rs 40.054 billion worth bids for the sale of 3-, 5-, 7-, 1
Published 26 May, 2011 12:00am
Ship-lift system to be installed at KSEW

Ship-lift system to be installed at KSEW

The government has decided to install ship lift and transfer system to provide docking and repair facilities to surface ships, submarines and commercial vessels, sources close to Minister of Defence Production, Chaudhry Pervez Elahi told Business Recor
Published 26 May, 2011 12:00am
Ship-lift system to be installed at KSEW

Ship-lift system to be installed at KSEW

The government has decided to install ship lift and transfer system to provide docking and repair facilities to surface ships, submarines and commercial vessels, sources close to Minister of Defence Production, Chaudhry Pervez Elahi told Business Recor
Published 26 May, 2011 12:00am
Ship-lift system to be installed at KSEW

Ship-lift system to be installed at KSEW

The government has decided to install ship lift and transfer system to provide docking and repair facilities to surface ships, submarines and commercial vessels, sources close to Minister of Defence Production, Chaudhry Pervez Elahi told Business Recor
Published 26 May, 2011 12:00am
UK starts review of planned FSA probe into RBS

UK starts review of planned FSA probe into RBS

British politicians kick-started their probe into the Financial Services Authority's delayed public account of the near-failure of Royal Bank of Scotland during the credit crisis. The cross-party Treasury Select Committee on Wednesday formally unveiled it
Published 26 May, 2011 12:00am
UK starts review of planned FSA probe into RBS

UK starts review of planned FSA probe into RBS

British politicians kick-started their probe into the Financial Services Authority's delayed public account of the near-failure of Royal Bank of Scotland during the credit crisis. The cross-party Treasury Select Committee on Wednesday formally unveiled it
Published 26 May, 2011 12:00am
UK starts review of planned FSA probe into RBS

UK starts review of planned FSA probe into RBS

British politicians kick-started their probe into the Financial Services Authority''s delayed public account of the near-failure of Royal Bank of Scotland during the credit crisis. The cross-party Treasury Select Committee on Wednesday formally unveiled i
Published 26 May, 2011 12:00am
ISI shrugs off supposed spy link to Mumbai attacks

ISI shrugs off supposed spy link to Mumbai attacks

ISI on Wednesday shrugged off testimony from an American who says he scouted targets for the 2008 Mumbai attacks by Pakistani militants with the help of at least one Pakistani intelligence official. David Headley, a Pakistani-American, pleaded guilty last
Published 26 May, 2011 12:00am
ISI shrugs off supposed spy link to Mumbai attacks

ISI shrugs off supposed spy link to Mumbai attacks

ISI on Wednesday shrugged off testimony from an American who says he scouted targets for the 2008 Mumbai attacks by Pakistani militants with the help of at least one Pakistani intelligence official. David Headley, a Pakistani-American, pleaded guilty last
Published 26 May, 2011 12:00am
India concerned for safety of Pakistan nuclear weapons

India concerned for safety of Pakistan nuclear weapons

India is concerned about the safety of Pakistan's nuclear arsenal after a group of militants laid siege to a heavily guarded naval air base, the defence minister said on Wednesday. "Naturally it is a concern not only for us but for everybody," A.K. Antony
Published 26 May, 2011 12:00am
India concerned for safety of Pakistan nuclear weapons

India concerned for safety of Pakistan nuclear weapons

India is concerned about the safety of Pakistan's nuclear arsenal after a group of militants laid siege to a heavily guarded naval air base, the defence minister said on Wednesday. "Naturally it is a concern not only for us but for everybody," A.K. Antony
Published 26 May, 2011 12:00am
Repatriation of profits soars to $650 million

Repatriation of profits soars to $650 million

Despite slackness in Pakistan's economy, repatriation of profit and dividend by foreign investors has been gradually increasing and here has been a surge of 7 percent during ten months of current fiscal year. The foreign investors repatriated $650 million
Published 26 May, 2011 12:00am
Repatriation of profits soars to $650 million

Repatriation of profits soars to $650 million

Despite slackness in Pakistan's economy, repatriation of profit and dividend by foreign investors has been gradually increasing and here has been a surge of 7 percent during ten months of current fiscal year. The foreign investors repatriated $650 million
Published 26 May, 2011 12:00am
Repatriation of profits soars to $650 million

Repatriation of profits soars to $650 million

Despite slackness in Pakistan''s economy, repatriation of profit and dividend by foreign investors has been gradually increasing and here has been a surge of 7 percent during ten months of current fiscal year. The foreign investors repatriated $650 millio
Published 26 May, 2011 12:00am
Irregularities, mismanagement cause Rs 5.16 billion loss to MoC

Irregularities, mismanagement cause Rs 5.16 billion loss to MoC

Auditor General of Pakistan (AGD) has detected embezzlements, irregularities and mismanagement's of Rs 5.16 billion in the Ministry of Commerce. According to AGP's Report-2010-11 available with Business Recorder, a total of Rs 2.1 billion irregularities,
Published 26 May, 2011 12:00am
Irregularities, mismanagement cause Rs 5.16 billion loss to MoC

Irregularities, mismanagement cause Rs 5.16 billion loss to MoC

Auditor General of Pakistan (AGD) has detected embezzlements, irregularities and mismanagement's of Rs 5.16 billion in the Ministry of Commerce. According to AGP's Report-2010-11 available with Business Recorder, a total of Rs 2.1 billion irregularities,
Published 26 May, 2011 12:00am
Irregularities, mismanagement cause Rs 5.16 billion loss to MoC

Irregularities, mismanagement cause Rs 5.16 billion loss to MoC

Auditor General of Pakistan (AGD) has detected embezzlements, irregularities and mismanagement''s of Rs 5.16 billion in the Ministry of Commerce. According to AGP''s Report-2010-11 available with Business Recorder, a total of Rs 2.1 billion irregularities
Published 26 May, 2011 12:00am
BRP parts ways with BNF

BRP parts ways with BNF

Baloch Republican Party (BRP) has parted ways with Baloch National Front (BNF), Aaj News reported Wednesday. BRP spokesperson Sher Muhammad Bugti has accused the BNF that it has left the nationalist agenda, therefore, BRP has decided to part ways w
Published 26 May, 2011 12:00am
Two killed in IHK

Two killed in IHK

Indian security forces on Wednesday killed two militants in separate firefights in held Kashmir, police said. Officers said the two militants slain during search operations in southern held Kashmir were senior members of the Lashkar-e-Taiba (LeT) guerrill
Published 26 May, 2011 12:00am
ADB to release $200 million for Pakistan

ADB to release $200 million for Pakistan

The Asian Development Bank (ADB) will disburse $200 million to Pakistan before the end of the current fiscal year ending June 30, Pakistan's finance ministry said on Wednesday. The funds are meant for capital reforms but could help narrow the fiscal defic
Published 26 May, 2011 12:00am
Pakistan reiterates its vision for new, strengthened NAM

Pakistan reiterates its vision for new, strengthened NAM

Pakistan has reiterated its eight point action programme for revitalising the Non Aligned Movement to effectively address the new and emerging global challenges in the areas of peace, security and development in the 21st Century.
Published 26 May, 2011 12:00am
Aamir Khan back to MQM fold

Aamir Khan back to MQM fold

Mohajir Qaumi Movement-Haqiqi Chairman Aamir Khan on Wednesday sought apology from all the family members of the slain workers of Muttahida Qaumi Movement (MQM), Aaj News reported. According to the channel, Amir Khan accompanied by MQM leader Raza
Published 26 May, 2011 12:00am
Mehran Base attack: Nisar calls for joint sitting of parliament

Mehran Base attack: Nisar calls for joint sitting of parliament

Chaudhry Nisar Ali Khan, opposition leader in the National Assembly on Wednesday termed the attack on PNS Mehran Base as massive security negligence. He called for summoning a joint sitting of parliament, a private TV channel reported. According to the ch
Published 26 May, 2011 12:00am
Condolence

Condolence

Chairman Fesco Board of Directors (BOD) Nadim Aftab Sindhu has expressed deep sense of sorrow and grief over the sad demise of Hakam Ali Zardari father of President Asif Ali Zardari. In a condolence meeting, which was also attended by Rana Mushtaq Ahmed P
Published 26 May, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 26 May, 2011 12:00am
Construction of model jail: Chief Justice FSC concerned over delay

Construction of model jail: Chief Justice FSC concerned over delay

Chief Justice of Federal Shariat Court (FSC) Agha Rafiq Ahmed Khan on Wednesday expressed his concern over delay in construction of model jail in Islamabad. Presiding over a meeting in his office, he said that unjustified delay in construction of a model
Published 26 May, 2011 12:00am
Airbase attack: police refuse to change FIR

Airbase attack: police refuse to change FIR

There is some confusion about the actual number of attackers who had besieged the navy's airbase in Karachi and the Navy officials have approached the police department to change the FIR. But, according to sources, the Police department have declined the
Published 26 May, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 26 May, 2011 12:00am
Abbottabad operation: probe commission's extension sought

Abbottabad operation: probe commission's extension sought

Speakers at All Parties Conference (APC) on Wednesday sought extension of inquiry commission formed by the parliament in-camera session regarding Abbottabad operation to examine collateral damages and losses in the US drone attacks and security forces ope
Published 26 May, 2011 12:00am
Anti-terrorist war: China ready to continue cooperation with Pakistan

Anti-terrorist war: China ready to continue cooperation with Pakistan

The Chinese Defence Ministry said on Wednesday that China was ready to continue strengthening anti-terrorist co-operation with Pakistan. "We are willing to strengthen co-operation with Pakistan in areas such as joint training, and information and logistic
Published 26 May, 2011 12:00am
Supreme Court defers Shahbaz's eligibility case

Supreme Court defers Shahbaz's eligibility case

The Supreme Court (SC) on Wednesday deferred till June 7 hearing of a constitutional petition questioning electoral eligibility of Punjab Chief Minister Shahbaz Sharif. A three-Judge bench headed by Justice Mian Shakirullah Jan put off hearing due to non-
Published 26 May, 2011 12:00am
Country passing through critical phase of history: chief minister Punjab

Country passing through critical phase of history: chief minister Punjab

Punjab Chief Minister Shahbaz Sharif has said that the country was passing through a critical phase of the history. Outsiders wanted to snatch our freedom and subjugate us. He said that enemy wanted to weaken the country but 180 million people were united
Published 26 May, 2011 12:00am
Glowing tribute paid to martyrs of Navy, Rangers

Glowing tribute paid to martyrs of Navy, Rangers

Pakistan People's Party (PPP) Sindh Women Wing Information Secretary, Ms Sharmila Farooqi has paid glowing tribute to the martyrs of Pakistani Navy and Rangers who sacrificed their lives while fighting terrorists during a recent attack on the PNS Mehran i
Published 26 May, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (May 25, 2011).

Published 26 May, 2011 12:00am
Shahbaz pays rich tributes to Lieutenant Yasir Abbas

Shahbaz pays rich tributes to Lieutenant Yasir Abbas

Punjab Chief Minister Muhammad Shahbaz Sharif has said that Shaheed Lieutenant Yasir Abbas of Pak Navy has set a glaring example of gallantry and courage by taking on the terrorists valiantly and made entire nation feel pride having laid down his life.
Published 26 May, 2011 12:00am
Aptma proposes setting up of Energy Infrastructure Development Authority

Aptma proposes setting up of Energy Infrastructure Development Authority

All Pakistan Textile Mills Association (Aptma) has proposed to set up Energy Infrastructure Development Authority to the federal government on the basis of public private partnership, representing leading energy consumers to fast track energy generation p
Published 26 May, 2011 12:00am
Punjab University SZIC organises lectures

Punjab University SZIC organises lectures

Punjab University Sheikh Zayed Islamic Centre (SZIC) organised two-day ,Tausee'i Khutbat on "Barr-e-Saghir Me Mutala Uloom-e-Islamia" in the Centre's auditorium here on Wednesday. On first day (Wednesday), former Chief Editor Islamic Research Institute Is
Published 26 May, 2011 12:00am
Water release increased from Tarbela

Water release increased from Tarbela

As the farmers have geared up sowing of strategic Kharif crops, cotton, rice and sugarcane, and there is an acute shortage of electricity in the country the Indus River System Authority (IRSA) discharged 10,000 cusecs more water downstream the Tarbela dam
Published 26 May, 2011 12:00am
Security gate installed at district courts

Security gate installed at district courts

Regional Police Officer (RPO) Aftab Ahmed Cheema inaugurated security gate installed at the main gate of district courts here on Wednesday. This gate has been donated by Industrial Police Liaison Committee (IPLC). Syed Omer Nazar Shah, Chief IPLC briefed
Published 26 May, 2011 12:00am
Retired bureaucrats instructed to vacate official residences

Retired bureaucrats instructed to vacate official residences

The Punjab Chief Secretary is instructed to get official residences vacated from retired government officials and recover rent with fines for overstaying in these residences. According to sources here on Wednesday, the Punjab Chief Secretariat has issued
Published 26 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 Wednesday in process of trading, experts said. The rupee shed four paisa in relation to the dollar for buying at 85.64 and depreciated by three paisa for selling at 85.68, they said.
Published 26 May, 2011 12:00am
2011-2012 Kharif crops: PPCBL to advance Rs three billion loans

2011-2012 Kharif crops: PPCBL to advance Rs three billion loans

Punjab Provincial Co-operative Bank Ltd is advancing loans of Rs 3 billion through co-operative societies to small farmers for 2011-2012 Kharif crops cotton, rice, sugarcane, vegetables, fodders etc. Secretary Co-operatives Punjab Khalid Pervaiz said here
Published 26 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 Wednesday in process of trading, experts said. The rupee shed four paisa in relation to the dollar for buying at 85.64 and depreciated by three paisa for selling at 85.68, they said.
Published 26 May, 2011 12:00am
Nato chief's statement indicated US designs: JI

Nato chief's statement indicated US designs: JI

The Jamaat-i-Islami chief, Syed Munawwar Hasan, has said, the Nato chief's statement about Pakistan's nukes security clearly indicated the US designs and if the rulers did not announce immediate pull out of the US war on terror, it would be too late.
Published 26 May, 2011 12:00am
Government urged to focus on power generation

Government urged to focus on power generation

Pakistan Industrial and Traders Associations Front (PIAF) has urged the Prime Minister, Syed Yousuf Raza Gilani and Federal Finance Minister, Dr Abdul Hafeez Sheikh to focus on power generation in the country otherwise no measure aimed at economic revival
Published 26 May, 2011 12:00am
'There's room for advancement in IT sector'

'There's room for advancement in IT sector'

The total size of the information technology sector is estimated at about $2.8 billion in the country, which can reach $5 billion within one year, provided payment gateway facilities are available in Pakistan. Sources told Business Recorder that IT
Published 26 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 25, 2011).

Published 26 May, 2011 12:00am
Transfers, postings in LDA

Transfers, postings in LDA

The Lahore Development Authority (LDA) has on Wednesday reshuffled a number of its officials. According to a notification, Abdur Razzaq has been posted as Director EME LDA Deputy Director Enforcement, Ashfaq Ahmad Dogar has been transferred and posted as
Published 26 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 25, 2011).

Published 26 May, 2011 12:00am
Musharraf terms Obama's statement irresponsible

Musharraf terms Obama's statement irresponsible

Former President Pervez Musharraf says United States President Barack Obama's statement "irresponsible" that if same thing happens with other known terrorists of al Qaeda he would take the same action. In an interview with CNN, Musharraf said Operation Ge
Published 26 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 Wednesday (May 25, 2011).

Published 26 May, 2011 12:00am
Two new Balochistan ministers awarded portfolios

Two new Balochistan ministers awarded portfolios

Balochistan government on Wednesday retrieved the portfolio of Communication and Works from Provincial Minister Mir Saidiq Umrani and awarded it to two newly inducted members in the provincial cabinet. According to the official sources, the provincial com
Published 26 May, 2011 12:00am
PSC survey reveals HH size in DGK urban areas declines

PSC survey reveals HH size in DGK urban areas declines

The Poverty Score Card (PSC) survey, conducted by HCMI, has revealed that household (HH) size in district Dera Ghazi Khan (DGK) has visibly declined in urban areas after 1998 census however, population growth rate is almost static. The probable reasons be
Published 26 May, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

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

Published 26 May, 2011 12:00am
Fakhar Zaman elected Sufi Council President

Fakhar Zaman elected Sufi Council President

Chairman of the Pakistan Academy of Letters Fakhar Zaman has been elected first president of recently established International Sufi Council. Scholars, intellectuals and writers from different countries have voted in his favour for the post, said a news r
Published 26 May, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (May 25, 2011) and for Thursday (May 26, 2011).
Published 26 May, 2011 12:00am
India, Pakistan to resume defence secretary level talks next week

India, Pakistan to resume defence secretary level talks next week

India and Pakistan will resume their defence secretary-level talks next week after four years with the demilitarization of Siachen Glacier - the world's highest and coldest battlefield - and Sir Creek maritime boundary dispute topping the agenda, Indian n
Published 26 May, 2011 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Wednesday (May 25, 2011).

Published 26 May, 2011 12:00am
'Police to be provided possible facilities to improve performance'

'Police to be provided possible facilities to improve performance'

The welfare of policemen is the first priority of top brass of Islamabad police who will be provided every possible facility to improve their performance, said Senior Superintendent of Police (Traffic) Dr Moeen Masood here on Wednesday.
Published 26 May, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 26 May, 2011 12:00am
Cops asked to perform duties in responsible manner

Cops asked to perform duties in responsible manner

The ministerial staff of Islamabad Police should accomplish their duties in responsible manner to improve the image of capital police, said Wajid Ali Durrani, Inspector General of Police (IGP) Islamabad here on Wednesday.
Published 26 May, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 26 May, 2011 12:00am
ANF seizes $44 million worth of heroin

ANF seizes $44 million worth of heroin

Pakistan said Wednesday it had seized its largest ever heroin haul, impounding 375 kilograms (825 pounds) of the narcotic worth an estimated $44 million on the international market. About 108 kilograms hidden in matchboxes was seized late Monday from a co
Published 26 May, 2011 12:00am
Bullion Rates

Bullion Rates

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

Published 26 May, 2011 12:00am
US condemns Peshawar bombing

US condemns Peshawar bombing

The US embassy strongly condemns Wednesday's terrorist bombing at a Peshawar police station. "We share grief of the families and friends of those who were killed and injured." The extremists who committed the crime, like those who have exploded bombs and
Published 26 May, 2011 12:00am
The Weather

The Weather

The weather report on Wednesday (May 25, 2011) and the forecast for Thursday (May 26, 2011).

Published 26 May, 2011 12:00am
Zardari condemns blast

Zardari condemns blast

President Asif Ali Zardari on Wednesday strongly condemned the suicide bomb blast at a police checkpost in Peshawar that killed innocent lives. The President expressed his condolences with the families of those who lost their lives in the terrorist act.
Published 26 May, 2011 12:00am
HUTIS of FIA is not working properly

HUTIS of FIA is not working properly

Human Trafficking Information System (HUTIS) of Federal Investigation Agency (FIA) is not working properly, bringing the human trafficking process to a grinding halt. The FIA headquarters received the summaries that HUTIS is not working properly in Sindh
Published 26 May, 2011 12:00am
Traders demand halt to loadshedding, kidnappings

Traders demand halt to loadshedding, kidnappings

Local trading bodies on Wednesday demanded of the government to immediately halt the unscheduled power load shedding, and called for taking notice of growing incidents of kidnapping for ransom and poor law and order situation in the province.
Published 26 May, 2011 12:00am
Anti-social elements: Capital police start new programme

Anti-social elements: Capital police start new programme

Islamabad Police on Wednesday started a new programme to collect information about the inhabitants of the capital city in order to remove anti-social elements from the city. The programme was introduced by the capital police to conduct a fresh survey for
Published 26 May, 2011 12:00am
AJK elections: 23 candidates file papers

AJK elections: 23 candidates file papers

Some 23 candidates have filed nomination papers for elections, which are scheduled in Azad Jammu and Kashmir (AJK) on June 24. The last date for filing papers is May 30.
Published 26 May, 2011 12:00am
Director LWD for maintaining industrial peace

Director LWD for maintaining industrial peace

Muhammad Aslam Javed, Director Labour Welfare Department (LWD) emphasised the need for maintaining the industrial peace in the best interest of the country, however, Punjab Government is actively engaged for creating close liaison between Industrialists a
Published 26 May, 2011 12:00am
Three killed in separate accidents

Three killed in separate accidents

At least three persons were killed in separate mishaps at various parts of the metropolis here on Wednesday. According to details, a man was crushed to death at railway track in Shah Faisal Colony within the limits of Drigh Road Railway police station. Th
Published 26 May, 2011 12:00am
Obama's visit to UK: British Pakistanis protest against drone attacks

Obama's visit to UK: British Pakistanis protest against drone attacks

A protest rally led by British member of Parliament Lord Nazir Ahmed and the British civil society was held on Wednesday against US drone attacks in Pakistan as the visiting US President Barack Obama addressed a joint session of the UK Parliament.
Published 26 May, 2011 12:00am
NAB conducting inquiry against two firms

NAB conducting inquiry against two firms

National Accountability Bureau Sindh is conducting an inquiry against directors, sponsors and management of M/s Cliktrade Limited and M/s Capital One Equities Limited on the charges of cheating public at large" on the pretext of trading of shares.
Published 26 May, 2011 12:00am
Role of financial sector in economic development highlighted

Role of financial sector in economic development highlighted

Institute of Cost and Management Accountants of Pakistan (ICMAP) organised a conference on "Role of Financial Sectors in the Development of Economy" to celebrate 60th anniversary of the institute. The event was held on the occasion of "Management Accounta
Published 26 May, 2011 12:00am
Prime Minister condemns Peshawar attack

Prime Minister condemns Peshawar attack

Prime Minister Syed Yousuf Raza Gilani on Wednesday strongly condemned the suicide attack at a police checkpost in Peshawar that claimed innocent lives. In a message, the Prime Minister ordered inquiry into the incident and directed best possible treatmen
Published 26 May, 2011 12:00am
Unrest simmering due to loadshedding

Unrest simmering due to loadshedding

Load shedding has become the most pressing problem of Karachi and unrest is simmering in the city as the government has failed to compel the Karachi Electric Supply Company to run its power plants at full capacity and generate enough electricity for cater
Published 26 May, 2011 12:00am
Controlling loadshedding: KESC assures MQM team of taking steps

Controlling loadshedding: KESC assures MQM team of taking steps

The management of Karachi Electric Supply Company (KESC) has assured the representatives of Muttahida Qaumi Movement (MQM) that the company would make all possible efforts to control electricity loadshedding. The management of KESC gave the assurance to a
Published 26 May, 2011 12:00am
'Government will not be allowed to impose 17 percent GST'

'Government will not be allowed to impose 17 percent GST'

Chairman, Senate Committee on Finance, Senator Ali Ahmed has said that his party would not allow government to impose 17 percent General Sales Tax (GST) in the coming budget. Speaking at a meeting of North Karachi Industrial Development Company (NKIDC) at
Published 26 May, 2011 12:00am
Summit Bank, Nadra sign agreement

Summit Bank, Nadra sign agreement

Summit Bank and Nadra Technologies Limited held a signing ceremony for the project of e-Sahulat, Cash Management Services that Summit Bank has offered to Nadra. With the rapid growth in Information Technology and its extensive usage, Summit Bank has propo
Published 26 May, 2011 12:00am
BoP, Daewoo sign agreement

BoP, Daewoo sign agreement

The Bank of Punjab (BoP) has signed an agreement with Daewoo Pakistan Motorway Services Limited (DPMSL) for providing cash management solutions on M-2. The subject agreement was signed by Khalid S Tirmizey (D-CEO of The Bank of Punjab) and J.H. Kim (CEO D
Published 26 May, 2011 12:00am
Major General McQullan calls on Secretary Defence

Major General McQullan calls on Secretary Defence

Canadian Commander Operational Support Command, Major General McQullan, also called on Secretary Defence, Syed Athar Ali in his office on Wednesday. On this occasion, the Secretary Defence apprised the Canadian General that the most important thing regard
Published 26 May, 2011 12:00am
BRIC block demands non-European IMF head

BRIC block demands non-European IMF head

Today, France tried the oldest trick in the diplomatic book, presenting what it wishes was reality as reality, when it said that China had backed its candidate for the IMF presidency under Christine Lagarde. That's great, only it's totally false.
Published 26 May, 2011 12:00am
LUMS becomes CFA programme partner

LUMS becomes CFA programme partner

Lahore University of Management Sciences (LUMS) has become a CFA programme partner of CFA institute, the global association for investment professionals that awards the prestigious CFA(r) designation. Recognition as a CFA programme partner signals that th
Published 26 May, 2011 12:00am
Hakim Ali Zardari laid to rest in family graveyard

Hakim Ali Zardari laid to rest in family graveyard

Hakim Ali Zardari, the veteran politician and father of President Asif Ali Zardari was laid to rest amidst sob eyes in Balo-jo-Qubbo, the ancestral graveyard of Zardari family in Village Fateh-Ullah Zardari near here early Wednesday morning.
Published 26 May, 2011 12:00am
Hakim Ali Zardari death condoled

Hakim Ali Zardari death condoled

The Vice Chancellor University of Sindh Professor Nazir A.Mughal has expressed deep grief on the sad demise of Hakim Ali Zardari, a veteran politician and father of President Asif Ali Zardari. In a condolence message from USA the Vice Chancellor of the Un
Published 26 May, 2011 12:00am
Tariq condoles

Tariq condoles

Tariq Sayeed, Vice President Confederation of Asia Pacific Chambers of Commerce and Industry (CACCI), has condoled the demise of noted politician and father of President Asif Ali Zardari. Tariq paid glowing tributes to late Hakim Ali Zardari, saying that
Published 26 May, 2011 12:00am
Khyber Pakhtunkhwa to oppose withdrawal of fiscal relief package: Adeel

Khyber Pakhtunkhwa to oppose withdrawal of fiscal relief package: Adeel

Khyber Pakhtunkhwa (KP) would strongly oppose any move by the federal government to withdraw fiscal relief package including sales tax and federal excise duty exemptions/concessions, granted to the business community and investors operating in the provinc
Published 26 May, 2011 12:00am
No medicine for poor patients visiting CHK

No medicine for poor patients visiting CHK

Poor patients visiting Civil Hospital Karachi have to face difficulties due to non availability of the medicines at pharmacy of Civil Hospital Karachi (CHK) even after standing in long queues for hours in the sweltering heat.
Published 26 May, 2011 12:00am
Ban on Facebook: LHC seeks report from federal government

Ban on Facebook: LHC seeks report from federal government

The Lahore High Court on Wednesday sought report from the federal government and the information ministry in a petition seeking permanent ban on Facebook for hosting blasphemous caricatures. The court directed Deputy Attorney General, Ziaul Qamar Bhatti t
Published 26 May, 2011 12:00am
Gilani visits Nawabshah

Gilani visits Nawabshah

Prime Minister Syed Yousuf Raza Gilani has expressed his deep grief and shock over the sad demise of the veteran politician Hakim Ali Zardari. Expressing sympathies with President Asif Ali Zardari on the demise of his father here at Zardari House on Wedne
Published 26 May, 2011 12:00am
Government relying on heavy slashing of PSDP

Government relying on heavy slashing of PSDP

The government has relied heavily on slashing Public Sector Development Program (PSDP) during the last three years to finance the yawning fiscal deficit caused by phenomenal increase in current expenditure. Documents show that PSDP allocation was slashed
Published 26 May, 2011 12:00am
Dr Hafeez meets ABC members

Dr Hafeez meets ABC members

Finance Minister, Dr Abdul Hafeez Shaikh accompanied by the Secretary Finance, Dr Waqar Masood Khan and Chairman FBR, Salman Siddique met with the members of the ABC and their guests in Karachi. The ABC representatives were also invited to participate in
Published 26 May, 2011 12:00am
Khyber Pakhtunkhwa health department asks doctors to end strike

Khyber Pakhtunkhwa health department asks doctors to end strike

A spokesman of the Khyber Pakhtunkhwa department of health on Wednesday called upon the doctors to call off their strike keeping in view the hardships being faced by the common man. In a statement issued here the spokesman described the strike as uncalled
Published 26 May, 2011 12:00am
Farrukh resigns from all posts at BMA Capital

Farrukh resigns from all posts at BMA Capital

The Chairman of the Board of Directors of BMA Capital Manaqement Limited, Mustafa Abdel Wadood on behalf of the Company on Wednesday announced the resignation of Farrukh Hussain Khan from all posts at BMA Capital, including his roles as Executive Vice Cha
Published 26 May, 2011 12:00am
Farrukh resigns from all posts at BMA Capital

Farrukh resigns from all posts at BMA Capital

The Chairman of the Board of Directors of BMA Capital Manaqement Limited, Mustafa Abdel Wadood on behalf of the Company on Wednesday announced the resignation of Farrukh Hussain Khan from all posts at BMA Capital, including his roles as Executive Vice Cha
Published 26 May, 2011 12:00am
Implications of NSS on economy, financial sector

Implications of NSS on economy, financial sector

The Mutual Fund Association of Pakistan has developed a policy paper on the implications of National Savings Schemes (NSS) on economy and the financial sector. It says: National Savings Schemes play an important role in mobilisation of savings for meeting
Published 26 May, 2011 12:00am
Prime Minister visits Pagara to inquire after his health

Prime Minister visits Pagara to inquire after his health

Prime Minister Yousuf Raza Gilani visited Aga Khan University Hospital on Wednesday to inquire about the health of Pir Saheb Pagara, leader of PML (F). He was accompanied by Sindh Governor Dr Ishratul Ibad Khan and Interior Minister Rehman Malik.
Published 26 May, 2011 12:00am
Sindh University clarification

Sindh University clarification

The Controller of Examinations University of Sindh has clarified that during ongoing law examinations of LL.B Part-I on Wednesday, the complaints were received from the students regarding the course of paper V of the Criminal Law. The Controller of Examin
Published 26 May, 2011 12:00am
First marketing, branding summit on May 28

First marketing, branding summit on May 28

Memon Professional Forum and Nutshell Forum in collaboration with Marketing Association of Pakistan and Pakistan Software Houses Association will hold first marketing and branding summit on Saturday, May 28, at a local hotel here. The theme of this confer
Published 26 May, 2011 12:00am
Issues to be resolved through dialogue, not violence: KESC Chief

Issues to be resolved through dialogue, not violence: KESC Chief

The Karachi Electric Supply Company (KESC) has expressed hope that the issues faced by the citizens of Karachi in reference to difficulties in power supply system would be resolved through negotiations and in legal manner. Tabish Gauhar, CEO of KESC, on W
Published 26 May, 2011 12:00am
Japanese envoy meets Hina Rabbani

Japanese envoy meets Hina Rabbani

Minister of State, Hina Rabbani Khar received Ambassador of Japan Hiroshi Oe, at the Ministry of Foreign Affairs on Wednesday, congratulating the later on the assumption of his new assignment in Pakistan. Views were exchanged on ways and means to further
Published 26 May, 2011 12:00am
Provincial tax collection: bring in CCI

Provincial tax collection: bring in CCI

Delivering a keynote address at a pre-budget seminar organised by a newly-launched English-language Lahore-based daily Pakistan Today Governor State Bank of Pakistan Shahid H. Kardar stated that "the terms of trade have moved in favour of those sectors of
Published 26 May, 2011 12:00am
Rasmussen's cavalier remark

Rasmussen's cavalier remark

During his visit to Kabul the other day, Nato Secretary General Anders Fogh Rasmussen said that he was confident that Pakistan's nuclear weapons were safe, but in the wake of the terrorist attack on the PNS Mehran 'it is matter of concern and we follow th
Published 26 May, 2011 12:00am
VIEW POINT: Time to put our house in order

VIEW POINT: Time to put our house in order

Most of us are still trying to make sense of it all, while the Western media has been using the incident to question Pakistan's ability to defend its military installations, including the country's nuclear weapons.
Published 26 May, 2011 12:00am
Global trading system at risk: the trade war between Airbus and Boeing

Global trading system at risk: the trade war between Airbus and Boeing

The granting of governmental subsidies1 that distort international trade and efforts to discipline such subsidies have proved to be two of the most intractable problems in the development of international trade law.2 In simplified terms, the intractabilit
Published 26 May, 2011 12:00am
Gimme, gimme, I want more

Gimme, gimme, I want more

Allah SWT admonishes against waste in the Holy Quran: "O children of Adam! Wear your beautiful apparel at every time and place of prayer: eat and drink: but waste not by excess, for Allah loves not the wasters." (Qur'an 7:31) Allah SWT advises us to be mo
Published 26 May, 2011 12:00am
Low voltage in Gulistan-e-Jauhar

Low voltage in Gulistan-e-Jauhar

I would like to bring to attention the low voltage problem in Gulistan-e-Jauhar Block 18, through your esteemed paper. The locality of Gulistan-e-Jauhar Block 18 is facing a low voltage problem for a very long time. Apart from massive loadshedding, the el
Published 26 May, 2011 12:00am
The next target?

The next target?

Navy Seals supported by CIA attacked Osama at Abbottabad humiliating Pak army and ISI. Lashkar-e-Jhangvi supported by Pak Taliban attacked naval air base at Karachi humiliating Pak Navy. If the pattern continues, the next target will be one of the airbase
Published 26 May, 2011 12:00am
KWSB notification

KWSB notification

The Karachi Water and Sewerage Board (KWSB) has extended the date for submission of water bills up to May 27. An announcement said that those consumers who have not yet submitted their bills could do so by May 27 without payment of any late surcharge.
Published 26 May, 2011 12:00am
ACE keeps mum about corruption by former DCO, EDO

ACE keeps mum about corruption by former DCO, EDO

Concerned officials of Anti-Corruption Establishment (ACE) have kept deep silence over the registered complain of corruption of millions of rupees against ex District Co-ordination Officer (DCO) and ex Executive District Officer (EDO) Finance Zulifqar Ali
Published 26 May, 2011 12:00am
SSUET holds workshop

SSUET holds workshop

Chancellor Sir Syed University of Engineering and Technology (SSUET), Z A Nizami, has said that it is vitally important for employees' prosperous future to improve communication skills and be able to transmit their thoughts and ideas effectively and clear
Published 26 May, 2011 12:00am
Site association condemns amendment to SRO 575(I)/2006

Site association condemns amendment to SRO 575(I)/2006

Asad Nisar Barkhurdaria, Senior Vice Chairman, S.I.T.E. Association of Industry has condemned the move of FBR of amending the SRO 575(I)/2006 through SRO 448(I)/2011 and withdrawing sales tax exemption on import of machinery, equipment and other related e
Published 26 May, 2011 12:00am
Man's mutilated body recovered

Man's mutilated body recovered

Police on Wednesday recovered an 11-day-old mutilated body from Christian graveyard in the limits of Sir Syed police station. According to details, the body of the deceased Ajmal, who has been missing since May 14 and the report in this regard was filed b
Published 26 May, 2011 12:00am
Stile reaffirms its support for architect community

Stile reaffirms its support for architect community

Shabbir Tiles and Ceramics Limited, commonly known by its brand name Stile is once again participated as a co-sponsor in the 6th International Exhibition of Building Products IAPEX held from May 10-11, 2011 at the Expo Centre, Karachi. Stile is one of the
Published 26 May, 2011 12:00am
Flood-affected areas refinance facility: scheme to cover SMEs

Flood-affected areas refinance facility: scheme to cover SMEs

The State Bank of Pakistan (SBP) has expanded the scope and extended the validity of the Refinance Scheme for Revival of SMEs & Agricultural Activities in Flood Affected Areas of the country. This has been done with a view to improving access to finance f
Published 26 May, 2011 12:00am
Farmers concerned over slow pace of rehabilitation work in Swat

Farmers concerned over slow pace of rehabilitation work in Swat

The Swat farmers fear the government has forgotten the rehabilitation process in the terrorism and flood ravaged valley, as uplift work has yet to take place to redevelop the agriculture sector there. "There is a scant job just done by the ANP led coaliti
Published 26 May, 2011 12:00am
SBL signs accord with New Hampshire Insurance Company

SBL signs accord with New Hampshire Insurance Company

Samba Bank Limited (SBL) has partnered with New Hampshire Insurance Company-Pakistan, in Bancassurance distribution. The agreement was signed by Tawfiq A. Husain, President and CEO of Samba Bank Limited, and Mujib Khan, country manager New Hampshire Insur
Published 26 May, 2011 12:00am
PACRA maintains stability rating of FHIF

PACRA maintains stability rating of FHIF

The Pakistan Credit Rating Agency (PACRA) has maintained the stability rating of First Habib Income Fund (FHIF) at 'AA- (f)' (Double A minus-fund rating), an open-end income fund. The fund's rating denotes a 'very strong capacity to manage relative stabil
Published 26 May, 2011 12:00am
PACRA maintains stability rating of FHIF

PACRA maintains stability rating of FHIF

The Pakistan Credit Rating Agency (PACRA) has maintained the stability rating of First Habib Income Fund (FHIF) at 'AA- (f)' (Double A minus-fund rating), an open-end income fund. The fund's rating denotes a 'very strong capacity to manage relative stabil
Published 26 May, 2011 12:00am
KESC's biogas energy project

KESC's biogas energy project

BR Research met Evan Chrapko, CEO of Highmark Renewables and Omer Ghaznavi, General Manager Corporate Strategy & Business Development at KESC to discuss about the upcoming renewable power project base primarily on animal waste. Following are the edited tr
Published 26 May, 2011 12:00am
US MIDDAY: gold sets three-week high

US MIDDAY: gold sets three-week high

Gold hit a three-week high on Wednesday, boosted by concern over the debt crisis in eurozone countries such as Greece and as June options expire in the COMEX futures market. Spot gold rose as far as $1,532.10 per troy ounce, its highest since May 4, but w
Published 26 May, 2011 12:00am
US MIDDAY: copper climbs

US MIDDAY: copper climbs

Copper climbed more than 2 percent on Wednesday, on buying spurred by recent bullish investment bank outlooks amid mounting evidence of a production short-fall this year. Macquarie Bank's removal of its short-term sell in copper a week ago and Goldman Sac
Published 26 May, 2011 12:00am
US MIDDAY: wheat jumps

US MIDDAY: wheat jumps

US grains rallied on Wednesday, with wheat futures climbing 2 percent and rising for the first time in a week, on renewed weather concerns in Europe and the United States. Corn and soyabeans also rose, as rain has delayed seeding both US crops and could r
Published 26 May, 2011 12:00am
US MIDDAY: sugar, coffee and cocoa surge

US MIDDAY: sugar, coffee and cocoa surge

Raw sugar, arabica coffee and US cocoa futures higher early on Wednesday, as funds poured into the markets and the commodity complex rallied. Key July raw sugar contract surged 0.73 cent, or 3.3 percent, to close at 22.64 cents a lb. July arabica coffee f
Published 26 May, 2011 12:00am
Gold hits three-week high in European trade

Gold hits three-week high in European trade

Gold hit a three-week high on Wednesday, boosted by concern over the debt crisis in eurozone countries such as Greece and a softer dollar after weak US economic data which also helped shore up prices. Spot gold hit $1,528.90 a troy ounce, its highest sinc
Published 26 May, 2011 12:00am
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