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Archive - 2011-06-04
North Sudan dismisses UN call
Africa

North Sudan dismisses UN call

KHARTOUM : Khartoum on Saturday dismissed calls by the U.N. Security Council for it to withdraw its forces immediately
Published 04 Jun, 2011 03:15pm
SBP announces conversion rates
Top News

SBP announces conversion rates

KARACHI: The State Bank of Pakistan Saturday announced the rates applicable for conversion into rupees of foreign curren
Published 04 Jun, 2011 02:54pm
China tells Japan not a threat
Asia

China tells Japan not a threat

BEIJING : Chinese Defence Minister Liang Guanglie told his Japanese counterpart on Saturday China 's development was an
Published 04 Jun, 2011 02:28pm
PLGMEA welcomes Sales Tax exemption
Top News

PLGMEA welcomes Sales Tax exemption

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Published 04 Jun, 2011 12:07pm
Pope arrives in Croatia
Europe

Pope arrives in Croatia

ZAGREB : Pope Benedict XVI arrived Saturday in staunchly Catholic Croatia for a two-day visit aimed at reaffirming Europ
Published 04 Jun, 2011 09:12am
Bombers kill 24 at Iraq mosque, hospital
Top News

Bombers kill 24 at Iraq mosque, hospital

TIKRIT: Bombers killed 24 people in attacks on a mosque in central Iraq frequented by provincial officials and later at
Published 04 Jun, 2011 07:59am
No compromise on defence expenditures
Top News

No compromise on defence expenditures

ISLAMABAD : Federal Minister for Finance, Dr. Abdul Hafeez Shaikh on Saturday said that government would not compromise
Published 04 Jun, 2011 12:00am
Sindh Budget on June 10
Top News

Sindh Budget on June 10

KARACHI: Sindh Minister for Finance, Syed Murad Ali Shah has said that provincial budget for next fiscal will be pres
Published 04 Jun, 2011 12:00am
Comments: Dr Sheikh won't find many takers

Comments: Dr Sheikh won't find many takers

One word describes the federal budget for fiscal 2011-12: 'unrealistic' in terms of the forthcoming year's expenditure allocations and revenue generation. The overall fiscal deficit is estimated at 851 billion rupees or 4 percent of the GDP.
Published 04 Jun, 2011 12:00am
Comments: Dr Sheikh won't find many takers

Comments: Dr Sheikh won't find many takers

One word describes the federal budget for fiscal 2011-12: 'unrealistic' in terms of the forthcoming year's expenditure allocations and revenue generation. The overall fiscal deficit is estimated at 851 billion rupees or 4 percent of the GDP.
Published 04 Jun, 2011 12:00am
Comments: Dr Sheikh won''t find many takers

Comments: Dr Sheikh won''t find many takers

One word describes the federal budget for fiscal 2011-12: ''unrealistic'' in terms of the forthcoming year''s expenditure allocations and revenue generation. The overall fiscal deficit is estimated at 851 billion rupees or 4 percent of the GDP.
Published 04 Jun, 2011 12:00am
Comments: Inflated revenue assumptions

Comments: Inflated revenue assumptions

The Budget FY12 has been based on inflated revenue assumptions and understated expenditure estimates to show a fiscal deficit of Rs 850 billion or 4 percent of GDP. Achieving a tax revenue target of Rs 1952.3 billion next year over the revised estimates o
Published 04 Jun, 2011 12:00am
Comments: Inflated revenue assumptions

Comments: Inflated revenue assumptions

The Budget FY12 has been based on inflated revenue assumptions and understated expenditure estimates to show a fiscal deficit of Rs 850 billion or 4 percent of GDP. Achieving a tax revenue target of Rs 1952.3 billion next year over the revised estimates o
Published 04 Jun, 2011 12:00am
Comments: Inflated revenue assumptions

Comments: Inflated revenue assumptions

The Budget FY12 has been based on inflated revenue assumptions and understated expenditure estimates to show a fiscal deficit of Rs 850 billion or 4 percent of GDP. Achieving a tax revenue target of Rs 1952.3 billion next year over the revised estimates o
Published 04 Jun, 2011 12:00am
Comments: Measures not bold enough

Comments: Measures not bold enough

The noisy backdrop of Finance Minister's budget speech was an anticlimax that left the opinion makers to dig budget documents and the finance bill for commentary. Was the budget populist, business-friendly or did it address the key economic reforms? The a
Published 04 Jun, 2011 12:00am
Comments: Measures not bold enough

Comments: Measures not bold enough

The noisy backdrop of Finance Minister's budget speech was an anticlimax that left the opinion makers to dig budget documents and the finance bill for commentary. Was the budget populist, business-friendly or did it address the key economic reforms? The a
Published 04 Jun, 2011 12:00am
Comments: Measures not bold enough

Comments: Measures not bold enough

The noisy backdrop of Finance Minister''s budget speech was an anticlimax that left the opinion makers to dig budget documents and the finance bill for commentary. Was the budget populist, business-friendly or did it address the key economic reforms? The
Published 04 Jun, 2011 12:00am
All SBP debt to be retired in eight years: Hafeez

All SBP debt to be retired in eight years: Hafeez

In a major development, the federal government has announced that it will retire debt obtained from the State Bank of Pakistan in the next eight years. In his budget speech at National Assembly on Friday, Finance Minister Abdul Hafeez Shaikh also announce
Published 04 Jun, 2011 12:00am
All SBP debt to be retired in eight years: Hafeez

All SBP debt to be retired in eight years: Hafeez

In a major development, the federal government has announced that it will retire debt obtained from the State Bank of Pakistan in the next eight years. In his budget speech at National Assembly on Friday, Finance Minister Abdul Hafeez Shaikh also announce
Published 04 Jun, 2011 12:00am
All SBP debt to be retired in eight years: Hafeez

All SBP debt to be retired in eight years: Hafeez

In a major development, the federal government has announced that it will retire debt obtained from the State Bank of Pakistan in the next eight years. In his budget speech at National Assembly on Friday, Finance Minister Abdul Hafeez Shaikh also announce
Published 04 Jun, 2011 12:00am
All SBP debt to be retired in eight years: Hafeez

All SBP debt to be retired in eight years: Hafeez

In a major development, the federal government has announced that it will retire debt obtained from the State Bank of Pakistan in the next eight years. In his budget speech at National Assembly on Friday, Finance Minister Abdul Hafeez Shaikh also announce
Published 04 Jun, 2011 12:00am
Discrepancy in outlay figures

Discrepancy in outlay figures

There was a discrepancy in the total outlay figures contained in the budget speech of Finance Minister Dr Abdul Hafeez Sheikh and budget documents - former stating an outlay of Rs 1504 billion for the next fiscal year while the latter putting it as Rs 166
Published 04 Jun, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 04 Jun, 2011 12:00am
Discrepancy in outlay figures

Discrepancy in outlay figures

There was a discrepancy in the total outlay figures contained in the budget speech of Finance Minister Dr Abdul Hafeez Sheikh and budget documents - former stating an outlay of Rs 1504 billion for the next fiscal year while the latter putting it as Rs 166
Published 04 Jun, 2011 12:00am
Discrepancy in outlay figures

Discrepancy in outlay figures

There was a discrepancy in the total outlay figures contained in the budget speech of Finance Minister Dr Abdul Hafeez Sheikh and budget documents - former stating an outlay of Rs 1504 billion for the next fiscal year while the latter putting it as Rs 166
Published 04 Jun, 2011 12:00am
Discrepancy in outlay figures

Discrepancy in outlay figures

There was a discrepancy in the total outlay figures contained in the budget speech of Finance Minister Dr Abdul Hafeez Sheikh and budget documents - former stating an outlay of Rs 1504 billion for the next fiscal year while the latter putting it as Rs 166
Published 04 Jun, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 04 Jun, 2011 12:00am
Mixed trend on LSE

Mixed trend on LSE

Mixed sentiment prevailed at Lahore Stock Exchange on Friday where equities moved both ways amid volatile situation and ended with marginal gain of 1.35 points on account of last-hour buying. The LSE-25 index improved to 3250.71 points from 3249.36 of Thu
Published 04 Jun, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 04 Jun, 2011 12:00am
Mixed trend on LSE

Mixed trend on LSE

Mixed sentiment prevailed at Lahore Stock Exchange on Friday where equities moved both ways amid volatile situation and ended with marginal gain of 1.35 points on account of last-hour buying. The LSE-25 index improved to 3250.71 points from 3249.36 of Thu
Published 04 Jun, 2011 12:00am
Presentation

Presentation

Presentation at KSE auditorium (only for members and an authorised employee of the members).

Published 04 Jun, 2011 12:00am
ISE index up 18.49 points

ISE index up 18.49 points

Equities moved both ways on Islamabad Stock Exchange (ISE) on Friday where investors adopted cautious approach amid increase in index. ISE-10 Index showed an improvement of 18.49 points from 2,765.44 points to 2,783.93 points. Turnover amounted to 36,150
Published 04 Jun, 2011 12:00am
ISE index up 18.49 points

ISE index up 18.49 points

Equities moved both ways on Islamabad Stock Exchange (ISE) on Friday where investors adopted cautious approach amid increase in index. ISE-10 Index showed an improvement of 18.49 points from 2,765.44 points to 2,783.93 points. Turnover amounted to 36,150
Published 04 Jun, 2011 12:00am
Over dozen injured in grenade attack at hotel

Over dozen injured in grenade attack at hotel

Over a dozen people were injured in a hand grenade attack at a tea stall in Khokhar Mohalla, Napier Road, Karachi on late Friday night, witnesses and police said. According to eyewitnesses, two people riding a bike hurled a hand grenade at the people havi
Published 04 Jun, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Friday (June 03, 2011).

Published 04 Jun, 2011 12:00am
Over dozen injured in grenade attack at hotel

Over dozen injured in grenade attack at hotel

Over a dozen people were injured in a hand grenade attack at a tea stall in Khokhar Mohalla, Napier Road, Karachi on late Friday night, witnesses and police said. According to eyewitnesses, two people riding a bike hurled a hand grenade at the people havi
Published 04 Jun, 2011 12:00am
Yemen's Saleh wounded, seven die in attack on palace

Yemen's Saleh wounded, seven die in attack on palace

Yemeni President Ali Abdullah Saleh was slightly injured in a shelling attack on his palace on Friday as fighting intensified in the capital of the impoverished country. Saleh, who is facing an unprecedented challenge to nearly 33 years of rule, said seve
Published 04 Jun, 2011 12:00am
Yemen's Saleh wounded, seven die in attack on palace

Yemen's Saleh wounded, seven die in attack on palace

Yemeni President Ali Abdullah Saleh was slightly injured in a shelling attack on his palace on Friday as fighting intensified in the capital of the impoverished country. Saleh, who is facing an unprecedented challenge to nearly 33 years of rule, said seve
Published 04 Jun, 2011 12:00am
Index gains 56.85 points

Index gains 56.85 points

Late buying, mainly by foreign investors, on Friday on expectations of tax relief in budget announcement supported the KSE-100 index to close in positive at 12,236.66 points with net gain of 56.85 points. However, trading was low as majority of market pla
Published 04 Jun, 2011 12:00am
Index gains 56.85 points

Index gains 56.85 points

Late buying, mainly by foreign investors, on Friday on expectations of tax relief in budget announcement supported the KSE-100 index to close in positive at 12,236.66 points with net gain of 56.85 points. However, trading was low as majority of market pla
Published 04 Jun, 2011 12:00am
Index gains 56.85 points

Index gains 56.85 points

Late buying, mainly by foreign investors, on Friday on expectations of tax relief in budget announcement supported the KSE-100 index to close in positive at 12,236.66 points with net gain of 56.85 points. However, trading was low as majority of market pla
Published 04 Jun, 2011 12:00am
BRIndex30 up 14.30 points

BRIndex30 up 14.30 points

On Friday, the BRIndex30 opened at 8,841.22 points. It touched the intra-day high of 8,871.41 points and low of 8,773.00 points and closed at 8,855.52 points with a net positive change of 14.30 points, or 0.16 percent higher than previous close.
Published 04 Jun, 2011 12:00am
THE RUPEE: rates stable before budget

THE RUPEE: rates stable before budget

Firmness prevailed on the money market on Friday as the rupee recovered modestly versus dollar, money experts said. The rupee recovered nine paisa in relation to the greenback for buying at 85.85 and it also gained eight paisa for selling at 85.90, they s
Published 04 Jun, 2011 12:00am
BRIndex30 up 14.30 points

BRIndex30 up 14.30 points

On Friday, the BRIndex30 opened at 8,841.22 points. It touched the intra-day high of 8,871.41 points and low of 8,773.00 points and closed at 8,855.52 points with a net positive change of 14.30 points, or 0.16 percent higher than previous close.
Published 04 Jun, 2011 12:00am
THE RUPEE: rates stable before budget

THE RUPEE: rates stable before budget

Firmness prevailed on the money market on Friday as the rupee recovered modestly versus dollar, money experts said. The rupee recovered nine paisa in relation to the greenback for buying at 85.85 and it also gained eight paisa for selling at 85.90, they s
Published 04 Jun, 2011 12:00am
Anti-KESC strike cripples trade activity

Anti-KESC strike cripples trade activity

The Awami National Party's (ANP) wheel-jam strike against the increasing electricity load shedding and workers' retrenchment plan of KESC left the city fully shut with no business and commercial activities on Friday, inflicting about Rs 2 billion losses o
Published 04 Jun, 2011 12:00am
Anti-KESC strike cripples trade activity

Anti-KESC strike cripples trade activity

The Awami National Party's (ANP) wheel-jam strike against the increasing electricity load shedding and workers' retrenchment plan of KESC left the city fully shut with no business and commercial activities on Friday, inflicting about Rs 2 billion losses o
Published 04 Jun, 2011 12:00am
Anti-KESC strike cripples trade activity

Anti-KESC strike cripples trade activity

The Awami National Party''s (ANP) wheel-jam strike against the increasing electricity load shedding and workers'' retrenchment plan of KESC left the city fully shut with no business and commercial activities on Friday, inflicting about Rs 2 billion losses
Published 04 Jun, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (June 03, 2011).

Published 04 Jun, 2011 12:00am
Rs 1.2709 trillion for net transfers to provinces

Rs 1.2709 trillion for net transfers to provinces

The government has proposed transfers of Rs 1.2709 trillion (net) to provinces in the current budget against Rs 1.022 trillion in the previous budget (2010-11), which is 24.3 percent higher as compared to last year. According to the budget documents last
Published 04 Jun, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (June 03, 2011).

Published 04 Jun, 2011 12:00am
Rs 1.2709 trillion for net transfers to provinces

Rs 1.2709 trillion for net transfers to provinces

The government has proposed transfers of Rs 1.2709 trillion (net) to provinces in the current budget against Rs 1.022 trillion in the previous budget (2010-11), which is 24.3 percent higher as compared to last year. According to the budget documents last
Published 04 Jun, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Friday (June 03, 2011).

Published 04 Jun, 2011 12:00am
Rs 1.2709 trillion for net transfers to provinces

Rs 1.2709 trillion for net transfers to provinces

The government has proposed transfers of Rs 1.2709 trillion (net) to provinces in the current budget against Rs 1.022 trillion in the previous budget (2010-11), which is 24.3 percent higher as compared to last year. According to the budget documents last
Published 04 Jun, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Friday (June 03, 2011) and for Saturday (June 04, 2011).
Published 04 Jun, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (June 03, 2011).

Published 04 Jun, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 04 Jun, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 04 Jun, 2011 12:00am
House calls for clarification of US role in Libya

House calls for clarification of US role in Libya

The House of Representatives on Friday demanded that President Barack Obama clarify the US role in the conflict in Libya, but rejected an attempt to force him to end America's military involvement there.
Published 04 Jun, 2011 12:00am
The Weather

The Weather

The weather report on Friday (June 03, 2011) and the forecast for Saturday (June 04, 2011).

Published 04 Jun, 2011 12:00am
MQM says budget to serve feudals' interests

MQM says budget to serve feudals' interests

Muttahida Qaumi Movement (MQM), an ally of the PPP-led government, said the federal budget presented by Minister for Finance Hafeez Sheikh in the National Assembly could not be tagged as pro-people rather it would serve the interests of feudals of the cou
Published 04 Jun, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on May 31, 2011.

Published 04 Jun, 2011 12:00am
Rs 1164 million for social protection

Rs 1164 million for social protection

A sum of Rs 1164 million has been earmarked in the budget for 2011-12 for social protection, against the revised allocation of Rs 2940 million for 2010-11, registering a decrease of Rs 1776 million. The budgetary allocation for social protection in 2011-1
Published 04 Jun, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on May 31, 2011.

Published 04 Jun, 2011 12:00am
Rs 20 million development projects undertaken by FDT

Rs 20 million development projects undertaken by FDT

Faisalabad Development Trust (FDT) has undertaken a number of development schemes, entailing a cost of rupees 20 million, while another project to give free Sehri and Iftari in three local hospitals (Allied Hospital, DHQ Hospital and Mian Muhammad Trust H
Published 04 Jun, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on May 31, 2011.

Published 04 Jun, 2011 12:00am
Exporters reject budget terming it anti-industry

Exporters reject budget terming it anti-industry

Exporters have termed the federal budget 2011-12 as anti industry and government-friendly, which has noting for the country's ailing export-oriented industry. Commenting on the federal budget 2011-2012, Javaid Chonaye, chairman Pakistan Readymade Garments
Published 04 Jun, 2011 12:00am
Rs 986 million earmarked for Supreme Court in budget

Rs 986 million earmarked for Supreme Court in budget

The government has allocated Rs 986 million for Supreme Court of Pakistan in the federal budget 2011-2012 against outgoing fiscal year's revised estimate of Rs 823.4 million, showing an increase of 16.53 per cent.
Published 04 Jun, 2011 12:00am
Scholarship cases of 99 needy students approved

Scholarship cases of 99 needy students approved

Scholarship Management Committee has approved scholarship cases of 99 needy students for the academic year 2010-11 under HEC-USAID Merit and Needs Based Scholarship Programme. Dr Sohail Naqvi, Executive Director, HEC, chaired the meeting held here at HEC
Published 04 Jun, 2011 12:00am
PSMA welcomes withdrawal of GST, SED on sugar

PSMA welcomes withdrawal of GST, SED on sugar

Pakistan Sugar Mills Association (PSMA) has welcomed withdrawal of General Sales Tex (GST) and Special Excise Duty (SED) on sugar. Talking to Business Recorder, after the announcement of federal budget 2011-11, Chairman, PSMA, Javed Kayani, said that impo
Published 04 Jun, 2011 12:00am
'Budget will add to woes of poor masses'

'Budget will add to woes of poor masses'

Business community has expressed dismay over the Federal Budget, saying that the government has failed to give any relief to people of the country. Addressing a press conference after federal budget, President Rawalpindi Chamber of Commerce and Industry (
Published 04 Jun, 2011 12:00am
Finance Bill tabled before Senate

Finance Bill tabled before Senate

The government on Friday laid the Finance Bill 2011 before the upper house of parliament. After presentation of the annual budget for 2011-12, federal minister for finance, Dr Abdul Hafeez Sheikh laid the bill in the Senate under Article 73 of the Constit
Published 04 Jun, 2011 12:00am
No news on CGT is bad news for bourses: Sohail

No news on CGT is bad news for bourses: Sohail

The much-awaited relaxation on Capital Gain Tax (CGT) was not mentioned in the Finance Bill presented in the National Assembly on Friday as a part of the Federal Budget FY11-12. "After the recent round of meetings with Ministry of Finance and FBR, it was
Published 04 Jun, 2011 12:00am
Mixed reaction on budget

Mixed reaction on budget

Business community has termed the budget for the year 2011-12 as worthwhile efforts have been made to mobilise business and industrial activities in the country in the present circumstances. However detailed comments can only be made after going through b
Published 04 Jun, 2011 12:00am
Interior Ministry gets less funds than PCG, CAF

Interior Ministry gets less funds than PCG, CAF

The budgetary allocation for Interior Ministry, responsible for maintaining law and order and face the challenge of war against terror, has witnessed a raise of 11.3 percent while its components, Pakistan Coast Guards and Civil Armed Forces, received a ra
Published 04 Jun, 2011 12:00am
Bilateral Visa Agreement: Pak-India Joint Working Group meeting held

Bilateral Visa Agreement: Pak-India Joint Working Group meeting held

The first meeting of Joint Working Group of India and Pakistan was held here for two days on Thursday and Friday to examine the modalities for streamlining visa procedures and finalising draft of Bilateral Visa Agreement. According to a joint statement by
Published 04 Jun, 2011 12:00am
Health sector: funding increased to Rs 38 billion in current fiscal

Health sector: funding increased to Rs 38 billion in current fiscal

Despite financial constraints, the government has shown its resolve to continue investments in social sector in order to improve human development index by providing modern health facilities to the masses. "Mobile hospitals had been imported to provide he
Published 04 Jun, 2011 12:00am
Supreme Court indicts DG FIA for contempt of court

Supreme Court indicts DG FIA for contempt of court

The Supreme Court indicted Director General of the Federal Investigating Agency (FIA), Malik Muhammad Iqbal for contempt of court here on Friday. A three-member bench of the apex court headed by Chief Justice Iftikhar Muhammad Chaudhry and comprising Just
Published 04 Jun, 2011 12:00am
Written-off loans case: SBP submits new circular in Supreme Court

Written-off loans case: SBP submits new circular in Supreme Court

The State Bank of Pakistan (SBP) on Friday submitted a new circular in the apex court, asking the banks/DFIs to submit entire record of loan transactions ie, written off, remitted, reversed and/or waived off loans/ advances/ finances of Rs 2.5 million and
Published 04 Jun, 2011 12:00am
White House says ties with Pakistan vital

White House says ties with Pakistan vital

The White House has said Pakistan is vital to US success against terrorists in the region and pledged to continue co-operative ties with the country, despite the complicated nature of the relationship. "I think we have made clear that our co-operative rel
Published 04 Jun, 2011 12:00am
'Pulping unit in implementation stage'

'Pulping unit in implementation stage'

Another business plan for pulping unit is in implementation stage, said Muhammad Uzair, management associate at Small & Medium Enterprises Development Authority (SMEDA) Karachi. According to press release issued here, the proposed project has been designe
Published 04 Jun, 2011 12:00am
Violation of municipal bylaws: CDA serves notices on 600 residents

Violation of municipal bylaws: CDA serves notices on 600 residents

The Capital Development Authority (CDA) served notices on 600 residents for violating municipal bylaws during the month of May. This was told during a meeting held here on Friday to review progress on anti-littering drive, which was presided over by Chair
Published 04 Jun, 2011 12:00am
WBDC to hold women entrepreneurs exhibition

WBDC to hold women entrepreneurs exhibition

Women Business Development Centre (WBDC), Khyber Pakhtunkhwa will hold a two-day inter-provincial women entrepreneurs exhibition on June 25 and 26. The exhibition's prime objective is to develop a linkage between female entrepreneurs all over the country,
Published 04 Jun, 2011 12:00am
Hundreds of militants besiege Pakistan border area for third day

Hundreds of militants besiege Pakistan border area for third day

Hundreds of militants on Friday again besieged a Pakistani area on the Afghan border, shortly after troops claimed to have regained control after fighting killed 34 people, police said. "Militants have attacked again. There are hundreds of them. They have
Published 04 Jun, 2011 12:00am
Sindh MPAs slam KESC management for anti-workers policy

Sindh MPAs slam KESC management for anti-workers policy

Opposition leader in Sindh Assembly on Friday held Karachi Electric Supply Company (KESC) responsible for all problems of electricity outages and its rift with workers, warning the company should mend its fences with strikers amid uproar by MQM members ag
Published 04 Jun, 2011 12:00am
Prime Minister to inaugurate Southern Punjab projects

Prime Minister to inaugurate Southern Punjab projects

Prime Minister of Pakistan Syed Yusuf Raza Gillani will inaugurate Moosa Pak Shaheed Bridge on Sutlej River at Aimenwala, says a press release issued here on Friday. About 600m-long bridge project is completed at cost of Rs 1,616 million. 4.55 km-long app
Published 04 Jun, 2011 12:00am
Five-member body to hold talks with KESC management, workers

Five-member body to hold talks with KESC management, workers

Sindh Chief Minister, Syed Qaim Ali Shah, has directed a five-member committee to hold talks with the management of the Karachi Electric Supply Company (KESC) and the workers of the utility to resolve the dispute peacefully. The Chief Minister, who had ex
Published 04 Jun, 2011 12:00am
Disabled persons, workers' widows KESC stops salaries

Disabled persons, workers' widows KESC stops salaries

Widows and disabled employees working in Karachi Electric Supply Company (KESC) have been deprived of their salaries for the month of April 2011, Business Recorder learnt on Friday. The widows recruited after the death of their KESC-employed husban
Published 04 Jun, 2011 12:00am
Wet blue hides: MCC seizes three more containers

Wet blue hides: MCC seizes three more containers

Model Customs Collectorate (MCC) has seized three more containers of wet blue hides valued Rs 13 millions, which were being exported to Taiwan. According to sources, the accused exporter had misdeclared the description and PCT Code of the consignment to e
Published 04 Jun, 2011 12:00am
World Environment Day on June 6

World Environment Day on June 6

The Environ-mental Protection Agency, Regional Office Hyderabad has arranged one-day seminar on June 6 at Mumtaz Mirza Auditorium at 9am to observe World Environment Day 2011. The Sindh Minister for Rural Development Zubair Ahmed Khan would attend the sem
Published 04 Jun, 2011 12:00am
Karachi University announcement

Karachi University announcement

Karachi University (KU) Friday announced that the candidates of MA (private) can submit their forms with registration fee of Rs 2,000 till June 13 at the Silver Jubilee gate. The examinations forms for MA, double MA and improvement of division can be subm
Published 04 Jun, 2011 12:00am
Two security men among 5 killed in city violence

Two security men among 5 killed in city violence

At least five persons including two security personnel were killed, 11 injured and nine vehicles set on fire, following the strike call given by Awami National Party (ANP) against Karachi Electric Supply Company (KESC). The complete shutter-down was witne
Published 04 Jun, 2011 12:00am
Murder of Baloch professor condemned

Murder of Baloch professor condemned

Pakistan Institute of Labour Education and Research (PILER) has strongly condemned the murder of noted scholar and Professor Saba Dasthtiyari in Quetta and demanded immediate formation of a high-powered commission for inquiry into the incident.
Published 04 Jun, 2011 12:00am
153 HIV/AIDS patients registered at SACP centres

153 HIV/AIDS patients registered at SACP centres

Its very alarming situation that HIV/AIDS disease is spreading in the province on daily basis because more 153 HIV/AIDS patients have been registered at various SACP centres, it is learnt to Business Recorder here on Friday. According to report com
Published 04 Jun, 2011 12:00am
Written-off loans: Banks/DFIs told to submit records to Commission

Written-off loans: Banks/DFIs told to submit records to Commission

The State Bank of Pakistan (SBP) on Friday directed all banks and development finance institutions (DFIs) to immediately submit the entire record of all written-off, remitted, reversed, and/or waived off loans/advances/finances of Rs 2.5 million and above
Published 04 Jun, 2011 12:00am
PTCL Volumetric IP Bandwidth Service

PTCL Volumetric IP Bandwidth Service

Pakistan Telecommunication Company Ltd (PTCL) Carrier Services andWholesale (CS&W) wing has announced for its carrier and whole sale customers the most flexible Volumetric IP Bandwidth Service. PTCL Volumetric IP Bandwidth service on volumetric usage bill
Published 04 Jun, 2011 12:00am
Taliban cross-border raid: Pakistan complains to Nato

Taliban cross-border raid: Pakistan complains to Nato

Pakistan has complained to Afghan and Nato forces over a cross-border militant raid that killed 27 security personnel and eight civilians. In a statement late Thursday Pakistan's Foreign Ministry said that a message had been conveyed to the Afghan ambassa
Published 04 Jun, 2011 12:00am
Budget 2011-12: an attempt towards stabilisation: analyst

Budget 2011-12: an attempt towards stabilisation: analyst

With Pakistan's economy in the grip of acute energy shortage, heightened security challenges and limited external inflows, the Federal Budget FY11-12 focuses on stabilisation. The overall theme of the budget is to protect the fragile recovery by curtailin
Published 04 Jun, 2011 12:00am
PTCL clarification

PTCL clarification

Apropos to a news item published in Business Recorder on June 3, 2011 captioned as "LCCI concerned over PTCL officials' inefficiency," Pakistan Telecommunication Company Limited (PTCL) has clarified that there was a heavy break down of underground
Published 04 Jun, 2011 12:00am
Condolence

Condolence

Punjab Chief Minister Muhammad Shahbaz Sharif went to the residence of Major General Muhammad Nawaz, Director General Pakistan Rangers Punjab and expressed his sorrow and grief with the bereaved family over the tragic incident of helicopter crash. Major G
Published 04 Jun, 2011 12:00am
Two LEA men hurt in blast

Two LEA men hurt in blast

Two personnel of a law enforcement agency were injured in explosion took place in Chamalang coalmine area on Friday. "Two law enforcement personnel were on duty in Chamalang coalmine area when an explosion occurred, police said, adding that as a result, t
Published 04 Jun, 2011 12:00am
Net impact of sales tax measures to be around Rs 21.1 billion

Net impact of sales tax measures to be around Rs 21.1 billion

The net impact of sales tax measures taken in budget (2011-2012) would be around Rs 21.1 billion including withdrawal of 21 sales tax exemptions and inclusion of defence Stores, bricks, computer software and aircrafts into the documented regime.
Published 04 Jun, 2011 12:00am
Bhootani tenders resignation

Bhootani tenders resignation

Speaker Balochistan Assembly Muhammad Aslam Bhootani has tendered resignation due to some differences with Chief Minister Balochistan Nawab Muhammad Aslam Raisani. A handout issued by the provincial assembly here Friday night said the resignation has been
Published 04 Jun, 2011 12:00am
Pakistanis among 150 drowned as boat capsizes: UN

Pakistanis among 150 drowned as boat capsizes: UN

At least 150 people, among them Pakistanis, have drowned and scores of others are missing after a boat leaving Libya capsized off the Tunisian coast on Wednesday, the UN refugee agency reported Friday. The overcrowded boat, which set sail on Saturday from
Published 04 Jun, 2011 12:00am
Lawyers' strike challenged in LHC

Lawyers' strike challenged in LHC

Lahore High Court Chief Justice here Friday admitted a petition for regular proceeding, challenging a strike by Lahore Bar Association. The petitioner Shahid Rana advocate pleaded that a handful of lawyers from a community of at-least 18,000 lawyers used
Published 04 Jun, 2011 12:00am
Islamabad Police arrest seven suspects

Islamabad Police arrest seven suspects

Islamabad Police have arrested seven persons from different areas of the Capital City for their alleged involvement in different crimes and recovered illegal arms, liquor and drugs from their possession, Spokesman of Islamabad Police Naeem Iqbal said here
Published 04 Jun, 2011 12:00am
Subsidies and confusions

Subsidies and confusions

Pakistan is supposedly moving towards a subsidy free regime - slowly (and gradually). At least, that is what we are made to believe by the economic managers. Yet, the 31 percent year-on-year increase in allocated amount for subsidies for FY12 hardly sugge
Published 04 Jun, 2011 12:00am
Tax experts, business community express mixed views

Tax experts, business community express mixed views

Tax experts and business community have expressed mix views on budget 2011-12. Commenting on budget 2011-12, chairman Association of Builders and Developers of Pakistan (ABAD) Babar Chugtai said the government has not favoured construction sector in the b
Published 04 Jun, 2011 12:00am
Budget Talk: In & Out of Parliament

Budget Talk: In & Out of Parliament

Women cheered, children danced and grown up men wept as the finance minister unveiled the federal budget for the upcoming fiscal year. Women and children cheered the cut in GST rate and relaxation of FED on soft drinks. The wailing men are of course Chaud
Published 04 Jun, 2011 12:00am
Unprecedented security for budget presentation

Unprecedented security for budget presentation

The Federal Budget 2011-12 was presented in the Parliament on Friday under a heavy security blanket in Red Zone, particularly outside the Parliament House. The stringent security measures were taken on the occasion of Federal Budget, as Pakistan Rangers a
Published 04 Jun, 2011 12:00am
Salient features

Salient features

Finance Minister Dr Abdul Hafeez Sheikh on Friday presented the Federal Budget 2011-12 in the National Assembly and announced projections for the next fiscal year.
Published 04 Jun, 2011 12:00am
Rs 2.6 billion for health affairs

Rs 2.6 billion for health affairs

The ministry of health that is targeted to be devolved to the provinces by June 30th, nonetheless received Rs 2.6 billion for health affairs and services in the budget for FY12 against the revised budget of Rs 7.4 billion (2010-11).
Published 04 Jun, 2011 12:00am
Rs 2.6 billion for health affairs

Rs 2.6 billion for health affairs

The ministry of health that is targeted to be devolved to the provinces by June 30th, nonetheless received Rs 2.6 billion for health affairs and services in the budget for FY12 against the revised budget of Rs 7.4 billion (2010-11).
Published 04 Jun, 2011 12:00am
No money for Minfa in budget

No money for Minfa in budget

The government has not made any allocation for the federal ministry of food and agriculture this year as under the 18th Amendment the ministry is being transferred to provinces. Last year the government had allocated Rs 26.4 billion for the sector, which
Published 04 Jun, 2011 12:00am
World needs willing takers for nuclear waste

World needs willing takers for nuclear waste

Governments could take pointers from Sweden and Finland when trying to find places to store the world's growing pile of radioactive waste from nuclear power plants, a group of arms control experts said on Friday. Top-down government directives about arbit
Published 04 Jun, 2011 12:00am
'Doctor Death,' dies at 83

'Doctor Death,' dies at 83

The American pathologist, Jack Kevorkian, dubbed "Doctor Death" for helping dozens of terminally-ill people to commit suicide, died Friday at the age of 83 in a Michigan hospital. "It was peaceful, he didn't feel a thing," his attorney Mayer Morganroth sa
Published 04 Jun, 2011 12:00am
Five hurt after trains collide in Chicago

Five hurt after trains collide in Chicago

At least five people were taken to hospital with minor injuries after two trains collided at Chicago's downtown Union station during the morning rush, officials said Friday. The trains were moving at a relatively low speed when the collision occurred on t
Published 04 Jun, 2011 12:00am
India's largest state unveils pro-farmer land bill

India's largest state unveils pro-farmer land bill

The chief minister of India's most populous state has unveiled a new land acquisition policy, local media reported on Friday, making it easier and more lucrative for farmers to sell land in the face of growing anger over land acquisition for industry.
Published 04 Jun, 2011 12:00am
Former US presidential candidate John Edwards indicted

Former US presidential candidate John Edwards indicted

Onetime Democratic presidential hopeful John Edwards was charged Friday with using $900,000 in campaign funds to cover up an affair with a film producer with whom he had a baby girl. Edwards, 57, faces a six-count indictment "for allegedly participating i
Published 04 Jun, 2011 12:00am
US lawmakers cut Homeland Security funding

US lawmakers cut Homeland Security funding

The US House of Representatives voted Thursday to shave more than a billion dollars from next year's Department of Homeland Security budget as part of its deficit reduction plan. The Republican-held House voted 231 to 188 to cut the fiscal 2012 budget by
Published 04 Jun, 2011 12:00am
Bombs kill 21 in Tikrit

Bombs kill 21 in Tikrit

At least 21 people were killed and more than 70 injured on Friday in two apparently co-ordinated attacks in Tikrit, home town of former dictator Saddam Hussein, officials said. The first explosion, a roadside bomb, targeted worshippers at a mosque, killin
Published 04 Jun, 2011 12:00am
China meets Libya rebels in latest blow to Qadhafi

China meets Libya rebels in latest blow to Qadhafi

China made its first confirmed contact with Libyan rebels in the latest diplomatic setback for Muammar Qadhafi, and France said on Friday it was working with those close to the veteran ruler to persuade him to leave power. The meeting in Qatar between a C
Published 04 Jun, 2011 12:00am
Mladic wary then defiant in dramatic Hague debut

Mladic wary then defiant in dramatic Hague debut

Former Bosnian Serb army commander Ratko Mladic faced the UN war crimes tribunal on Friday as a defiant general who never lost a battle, denying the charges against him as "obnoxious" and "monstrous". Formally charged by a UN tribunal which has waited 16
Published 04 Jun, 2011 12:00am
US and Afghanistan push ahead on long-term deal

US and Afghanistan push ahead on long-term deal

US and Afghan officials are pushing ahead with talks on a deal to define the long-term American role in Afghanistan, possibly easing worries among some Afghans that Washington will walk away when foreign forces go home. This week, the government of Afghan
Published 04 Jun, 2011 12:00am
Pope agrees on 'urgent need' for Palestinian state

Pope agrees on 'urgent need' for Palestinian state

Pope Benedict XVI and Palestinian president Mahmud Abbas met in the Vatican on Friday and said there was an "urgent need" for a lasting solution to the Israeli-Palestinian conflict. "Particular stress was laid on the urgent need to find a just and lasting
Published 04 Jun, 2011 12:00am
44 killed in Syrian protests

44 killed in Syrian protests

At least 44 people were killed in Syria on Friday in a violent crackdown by security forces against protesters demanding the ouster of President Bashar al-Assad. Activists said online that 34 bodies arrived at the Horani hospital in Hama, the country's fo
Published 04 Jun, 2011 12:00am
Austrian terrorist suspect charged

Austrian terrorist suspect charged

German federal prosecutors say they have charged a 21-year-old Austrian man with supporting a terrorist organisation on allegations he raised funds for it and sought recruits in Berlin. Prosecutors said in a statement that Maqsood L., whose last name was
Published 04 Jun, 2011 12:00am
Britain, US to seek lifting of UN sanctions against 18 Taliban leaders

Britain, US to seek lifting of UN sanctions against 18 Taliban leaders

Britain and the United States are pressing for lifting of United Nations' sanctions against 18 former senior Taliban figures later this month in the strongest indication yet that the western powers are looking for a negotiated peace with the Taliban, repo
Published 04 Jun, 2011 12:00am
Two children among five killed in chemical explosion

Two children among five killed in chemical explosion

Two children were killed while five others suffered burn injuries when a container filled with chemicals burst at a varnish factory at Wandala Road, Shahdara on Friday. Roofs of the double-storey factory and three adjacent houses collapsed after the incid
Published 04 Jun, 2011 12:00am
LSE decides to expel Wasi Securities

LSE decides to expel Wasi Securities

The Lahore Stock Exchange (LSE) has decided to expel M/s. Wasi Securities (SMC-Pvt) Limited, corporate member of the Exchange on account of filing of winding up petition before the Lahore High Court (LHC). This decision was taken in a meeting of the Gover
Published 04 Jun, 2011 12:00am
Zardari for strong Pak-Afghan parliamentary contacts

Zardari for strong Pak-Afghan parliamentary contacts

President Asif Ali Zardari on Friday stressed for frequent exchange of parliamentary delegations between Pakistan and Afghanistan and urged for forging stronger links among women parliamentarians in the two countries. Talking to a delegation of Afghan wom
Published 04 Jun, 2011 12:00am
Transfers, postings of 128 judges

Transfers, postings of 128 judges

Lahore High Court has made transfer and posting among 128 civil judges-cum-judicial magistrates and four additional district and sessions judges (AD&SJs).
Published 04 Jun, 2011 12:00am
AJK assembly elections: PML-N announces candidates

AJK assembly elections: PML-N announces candidates

The Pakistan Muslim League-Nawaz (PML-N) on Friday announced candidates to run in June 26 elections for Azad Jammu and Kashmir Legislative Assembly. Addressing a press conference here Senator Raja Zafrul Haq who was flanked by Saddiqul Farooq said the par
Published 04 Jun, 2011 12:00am
Khurrianwala police station upgraded

Khurrianwala police station upgraded

Khurrianwala police station has been upgraded with the assistance of Rs one million. IPLC has spent this amount for the construction of monitoring room and office for police rescue This was stated by Syed Omer Nazar Shah, Chief of IPLC. He said that this
Published 04 Jun, 2011 12:00am
Afridi calls in lawyers to secure county permission

Afridi calls in lawyers to secure county permission

Dumped captain Shahid Afridi has called in the lawyers in a bid to secure Pakistani permission to play county cricket in England that was denied amid a public slanging match, an official said Friday. "We have received a letter from legal firm Mandviwalla
Published 04 Jun, 2011 12:00am
Cook holds firm against Sri Lanka

Cook holds firm against Sri Lanka

Alastair Cook was closing in on his sixth hundred in nine Tests but England were far from having things all their own way on the opening day of the second Test against Sri Lanka. England were 165 for four at tea at Lord's here on Friday, with opener Cook
Published 04 Jun, 2011 12:00am
Australia considers 10 years jail for match-fixing

Australia considers 10 years jail for match-fixing

Australia is considering stiff penalties of up to 10 years in jail for anybody involved in match-fixing and corruption in sport, sports minister Mark Arbib said on Friday. Arbib has been working with state ministers to establish a national framework to de
Published 04 Jun, 2011 12:00am
Match-fixing probe widens into high-profile crime

Match-fixing probe widens into high-profile crime

A wide-scale probe into match fixing in Italy's top three football leagues has moved into the shadow of organised crime. An investigator from Cremona, the northern-Italy office which is co-ordinating the nation-wide probe, was quoted Friday as saying that
Published 04 Jun, 2011 12:00am
Warner says he will make Blatter email public

Warner says he will make Blatter email public

Suspended FIFA vice-president Jack Warner has promised to release an email he sent to the organisation's president Sepp Blatter after the controversial meeting of Caribbean soccer chiefs at the centre of the sport's bribery allegations. Trinidadian Warner
Published 04 Jun, 2011 12:00am
Motor racing: Bahrain reinstated, India to end season

Motor racing: Bahrain reinstated, India to end season

The Bahrain Formula One Grand Prix, postponed in March due to violent civil unrest, will go ahead on October 30 with India moving to the end of the season, the sport's governing FIA said on Friday. No date was set for the inaugural Indian race, which was
Published 04 Jun, 2011 12:00am
Nadal into final as Murray crashes

Nadal into final as Murray crashes

Rafael Nadal moved to within one win of equalling Bjorn Borg's record of six French Open titles with a hard-fought yet convincing 6-4, 7-5, 6-4 semi-final win over a battling Andy Murray on Friday. It was a perfect way to celebrate his 25th birthday for t
Published 04 Jun, 2011 12:00am
Sharapova turns focus to Wimbledon

Sharapova turns focus to Wimbledon

Maria Sharapova said she is not too disappointed by her loss to Li Na in the French Open semi-finals and will now turn her focus fully on Wimbledon. It was at the grass courts of south-west London where the Russian exploded onto the international scene wh
Published 04 Jun, 2011 12:00am
India depleted, but success expected in Caribbean

India depleted, but success expected in Caribbean

A depleted India begin their tour of the Caribbean with a familiar format, playing a Twenty20 International against West Indies on Saturday at Queen's Park Oval. Bereft of a number of their star players, like World Cup-winning captain Mahendra Singh Dhoni
Published 04 Jun, 2011 12:00am
Capello keeps his England 'children' in the loop

Capello keeps his England 'children' in the loop

Communication between England manager Fabio Capello and his players has improved and the team are training with smiles on their faces, captain John Terry said on Friday. England, who host Switzerland in a Euro 2012 qualifier on Saturday, were embroiled in
Published 04 Jun, 2011 12:00am
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