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Archive - 2011-07-01
Moonis Elahi moves application for bail
Top News

Moonis Elahi moves application for bail

LAHORE : PML-Q leader Moonis Elahi, involved in National Insurance Corporation Limited scam, on Friday moved bail applic
Published 01 Jul, 2011 07:55pm
Gold plunges to Rs41,742
Markets

Gold plunges to Rs41,742

KARACHI: Gold plunged by Rs300 to Rs41,742 per 10 grams in local bullion market Friday, as its international price slipp
Published 01 Jul, 2011 07:02pm
Nigerian unions threaten strike
Africa

Nigerian unions threaten strike

ABUJA : Nigeria 's main labour unions have threatened a nationwide strike in two weeks' time unless the government impl
Published 01 Jul, 2011 01:28pm
26,740 new returns filed during 2010-11
Top News

26,740 new returns filed during 2010-11

ISLAMABAD : As many as 26,740 new tax returns have been filed upto June 30 during the outgoing financial year and Rs.356
Published 01 Jul, 2011 12:19pm
UK retail bloodletting begun
Top News

UK retail bloodletting begun

LONDON : A string of retail failures in Britain could be the tip of the iceberg as shoppers cut back dramatically on n
Published 01 Jul, 2011 11:40am
Strauss-Kahn freed from house arrest
Top News

Strauss-Kahn freed from house arrest

NEW YORK : A US judge released Dominique Strauss-Kahn on his "own recognizance" Friday, but prosecutors who consented to
Published 01 Jul, 2011 09:20am
FBR refuses to extend Amnesty Scheme
Top News

FBR refuses to extend Amnesty Scheme

ISLAMABAD : The Federal Board of Revenue (FBR) categorically refused to extend the Amnesty Scheme which became ineffecti
Published 01 Jul, 2011 08:02am
UN welcomes Bahrain probe of unrest
Top News

UN welcomes Bahrain probe of unrest

UNITED NATIONS: UN chief Ban Ki-moon welcomed Thursday a move by Bahrain to launch a probe to investigate the violent re
Published 01 Jul, 2011 06:27am
Tokyo shares open higher
Financial

Tokyo shares open higher

TOKYO : Tokyo shares opened higher Friday with investors heartened by positive US data despite a Japanese survey showing
Published 01 Jul, 2011 05:43am
Latin America's leftist firebrand
World

Latin America's leftist firebrand

CARACAS : Hugo Chavez has traveled a bumpy road since being elected Venezuelan president in 1998, inspiring love and loa
Published 01 Jul, 2011 05:41am
EU-South Korea trade deal takes effect
Top News

EU-South Korea trade deal takes effect

SEOUL : A sweeping free trade pact between the European Union and South Korea , the first in Asia for the world's lar
Published 01 Jul, 2011 05:30am
Bills chugging along
BR Research

Bills chugging along

The sale of sovereign instruments ran like clockwork during FY11, thanks to surplus liquidity in the system amid limited investment avenues.
Published 01 Jul, 2011 12:00am
Nikkei edges up

Nikkei edges up

The Nikkei average ended slightly higher on Thursday though it pulled back after hitting a fresh seven-week peak, partly encouraged by strong performances in other Asian markets. The Nikkei ended the April-June quarter up a tad and set to beat many of its
Published 01 Jul, 2011 12:00am
Treasury yields post highest level in a month

Treasury yields post highest level in a month

US Treasury yields reached their highest levels in a month on Wednesday as signs Greece is near a resolution to its debt issues lifted a safe haven bid that has driven demand for the past month. Treasuries investors are now expected to shift focus to what
Published 01 Jul, 2011 12:00am
Treasury yields post highest level in a month

Treasury yields post highest level in a month

US Treasury yields reached their highest levels in a month on Wednesday as signs Greece is near a resolution to its debt issues lifted a safe haven bid that has driven demand for the past month. Treasuries investors are now expected to shift focus to what
Published 01 Jul, 2011 12:00am
Australian shares post biggest daily gain in seven months

Australian shares post biggest daily gain in seven months

Australian shares jumped 1.7 percent on Thursday, the biggest one-day percentage gain in seven months, as top banks and large miners jumped in the final trading hours of the financial year, boosted by short-covering and gains in oil, copper and gold. Top
Published 01 Jul, 2011 12:00am
Wall Street ends biggest three-day surge in three months

Wall Street ends biggest three-day surge in three months

Wall Street closed its best three-day run in the past three months on Wednesday after the Greek parliament approved austerity measures to avoid defaulting on its debt. Optimism about the plan's approval has helped the stock market recoup some of its losse
Published 01 Jul, 2011 12:00am
Thursday's midday trade: S&P 500 tops 50-day moving average

Thursday's midday trade: S&P 500 tops 50-day moving average

Wall Street rose for a fourth consecutive session on Thursday in an end-of-quarter rally that was boosted by a surprisingly strong economic report covering the US Midwest. The major stock indexes rose 1 percent, including the benchmark S&P 500, which clim
Published 01 Jul, 2011 12:00am
Indian shares drop for second quarter

Indian shares drop for second quarter

Indian shares declined for the second straight quarter after rising for the previous eight as spiralling inflation and a slowdown in economic growth dispelled investors, and kept the outlook for the quarter ahead subdued. "The market could be rangebound i
Published 01 Jul, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul shares edged up on Thursday, with sentiment lifted by news the Greek parliament had approved austerity measures to avoid the country defaulting on its debts, but gains were limited after sharp rises in the previous session. The Korea Composite Stock
Published 01 Jul, 2011 12:00am
South East Asian markets: Indonesia, Malaysia set all-time highs

South East Asian markets: Indonesia, Malaysia set all-time highs

Southeast Asian stock markets pushed higher on Thursday amid a broad rebound in risky assets helped by the Greek parliament's initial vote for an austerity package to tackle debt problems, spurring demand for big-caps at the end of the quarter. Foreign mo
Published 01 Jul, 2011 12:00am
Greek lawmakers back reforms, clear way for more aid

Greek lawmakers back reforms, clear way for more aid

The Greek parliament approved detailed austerity and privatisation bills on Thursday in a crucial vote to secure emergency funds and avert imminent bankruptcy, but longer-term dangers still lurk. Lawmakers voted 155-136 for the implementing laws after bac
Published 01 Jul, 2011 12:00am
Saudi Arabia's foreign assets hit record $480 billion

Saudi Arabia's foreign assets hit record $480 billion

Saudi Arabia's net foreign assets hit 1.8 trillion riyals ($480 billion) in May, their highest level ever, as surging oil prices helped the kingdom offset increased spending aimed at boosting growth and staving off the protests that have swept through oth
Published 01 Jul, 2011 12:00am
Saudi Arabia's foreign assets hit record $480 billion

Saudi Arabia's foreign assets hit record $480 billion

Saudi Arabia's net foreign assets hit 1.8 trillion riyals ($480 billion) in May, their highest level ever, as surging oil prices helped the kingdom offset increased spending aimed at boosting growth and staving off the protests that have swept through oth
Published 01 Jul, 2011 12:00am
India clears Cairn, Vedanta deal with conditions

India clears Cairn, Vedanta deal with conditions

India said it granted Vedanta Resources conditional approval on Thursday to buy a stake in British oil explorer Cairn Energy's Indian business, in a deal valued at around $6 billion. Cairn Energy agreed last week to sell a 40 percent stake in Cairn India
Published 01 Jul, 2011 12:00am
German jobless at 20-year low, retail sales dip

German jobless at 20-year low, retail sales dip

Germany's unemployment rate held at a 20-year low in June, pointing to a still buoyant labour market, but consumers spent cautiously in May, in part due to an E.coli outbreak that led to a drop in food sales. Germany has recovered swiftly from its deepest
Published 01 Jul, 2011 12:00am
China lifts threshold for paying income tax after outcry

China lifts threshold for paying income tax after outcry

China has raised the level at which citizens must start to pay income tax to 3,500 yuan ($542) per month from 2,000 yuan, the official Xinhua News Agency said on Thursday, offering a bigger concession to taxpayers than expected. Xinhua said the standing c
Published 01 Jul, 2011 12:00am
Maersk suspends some Iran operations over sanctions

Maersk suspends some Iran operations over sanctions

The world's largest container firm suspended operations at several Iranian ports on Thursday, potentially disrupting critical food shipments as it complies with tightening US sanctions. Maersk line, a unit of A.P. Moller-Maersk, manages several refrigerat
Published 01 Jul, 2011 12:00am
Swiss to make super-rich pay more taxes

Swiss to make super-rich pay more taxes

The Swiss government decided on Thursday to make wealthy foreigners pay more taxes, but refused to scrap lumpsum tax deals aimed at attracting the rich to the Alpine nation. "The Federal Council wants to reform the lumpsum taxation in order to reinforce t
Published 01 Jul, 2011 12:00am
Belarus slaps price caps on consumer goods

Belarus slaps price caps on consumer goods

Crisis-hit Belarus imposed price caps on all consumer goods on Thursday to fight spiralling inflation and calm a new wave of protests against President Alexander Lukashenko's authoritarian regime. Deputy Prime Minister Vladimir Semashko told a parliament
Published 01 Jul, 2011 12:00am
US Midwest factories roar, labour market weak

US Midwest factories roar, labour market weak

Factory activity in the US Midwest accelerated in June, fostering hopes for a pick-up in economic growth in the third quarter, despite signs of lingering weakness in the labour market. The Institute for Supply Management-Chicago said on Thursday that its
Published 01 Jul, 2011 12:00am
Turkish growth surprises with 11 percent rise

Turkish growth surprises with 11 percent rise

Turkey's economy grew by 11.0 percent in the first quarter of 2011 from output in the same period last year, outstripping expectations, official data showed on Thursday. The figure placed Turkey in the lead of the G-20 group of world powers and emerging e
Published 01 Jul, 2011 12:00am
US dollar share in FX reserves falls in first quarter: IMF

US dollar share in FX reserves falls in first quarter: IMF

The US dollar's share of allocated currency reserves fell in the first quarter, while global central bank holdings surged to a record near $10 trillion. Data from the International Monetary Fund showed on Thursday that the US currency's share of the rough
Published 01 Jul, 2011 12:00am
Moody's warns of spillover if US downgraded

Moody's warns of spillover if US downgraded

Moody's said Wednesday that the ratings of US government-related firms, municipal bond issuers and even private firms could be hit if the Washington defaults on debt payments in August. The agency reiterated that if the country's $14.29 trillion debt ceil
Published 01 Jul, 2011 12:00am
New Lloyds CEO cuts 15,000 jobs

New Lloyds CEO cuts 15,000 jobs

Lloyds will axe 15,000 jobs and halve its international presence, a plan its new boss hopes will save 1.5 billion pounds ($2.4 billion) a year by 2014 and return the part-nationalised British bank to health. Chief Executive Antonio Horta-Osorio, presentin
Published 01 Jul, 2011 12:00am
Investors optimistic as H2 starts, but lift stocks cautiously

Investors optimistic as H2 starts, but lift stocks cautiously

Investors have become a little more upbeat heading into the second half of the year, lifting stock allocations from 2011 lows but remaining cautious with plenty of safe-haven cash and bonds. They also lifted their exposure to eurozone stocks and bonds in
Published 01 Jul, 2011 12:00am
Big slump seen on cotton market

Big slump seen on cotton market

Cotton prices took a beating this week on this domestic market even though the arrivals of lint are in smaller quantities as of now. Fall in New York cotton futures prices, lack of any sales of yarns and other textile products in the market, reported clos
Published 01 Jul, 2011 12:00am
Big slump seen on cotton market

Big slump seen on cotton market

Cotton prices took a beating this week on this domestic market even though the arrivals of lint are in smaller quantities as of now. Fall in New York cotton futures prices, lack of any sales of yarns and other textile products in the market, reported clos
Published 01 Jul, 2011 12:00am
No business on grain market due to Shab-e-Meraj holiday

No business on grain market due to Shab-e-Meraj holiday

No transaction was seen on the wholesale grain and seed market on Thursday as all participants were sidelined after observing Shab-e-Meraj on Wednesday, grain and seed merchant group's press release said.
Published 01 Jul, 2011 12:00am
Seedcotton rates dip despite monsoon rains in cotton growing areas

Seedcotton rates dip despite monsoon rains in cotton growing areas

Rates came down sharply on the cotton market on Thursday despite the monsoon rains in the cotton growing areas, dealers said. The Karachi Cotton Association (KCA) official spot rate was left unchanged at Rs 8,650, they said. Seedcotton prices continued to
Published 01 Jul, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 79,049 tonnes of cargo including 48,326 tonnes of import cargo, 30,723 tonnes of export cargo and 4,184 loaded & empty containers during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 48,326 tonnes compri
Published 01 Jul, 2011 12:00am
Brazil's coffee dodges frost during chilly night

Brazil's coffee dodges frost during chilly night

Brazil's south-eastern coffee regions passed through a chilly night without frost, four co-operatives said on Wednesday, after a freeze the previous night that reached a comparatively small number of farms. Weather forecaster Somar said temperatures would
Published 01 Jul, 2011 12:00am
US Plains HRW wheat bids steady

US Plains HRW wheat bids steady

Hard red winter wheat basis bids were steady Thursday in light activity as producers held on to recently harvested crop supplies, dealers said. There was little movement of the new crop as producers waited for better prices, dealers in Kansas and Oklahoma
Published 01 Jul, 2011 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Wednesday, led by the nearby contract and with firm US grain and soy markets lending support, traders said. July-November spread traded 2,051 times, moving to a July premium as high as $17.20, the highest in nearly thre
Published 01 Jul, 2011 12:00am
Indonesia plans large target for sugarcane plantation

Indonesia plans large target for sugarcane plantation

Indonesia has set aside 25,000 hectares for sugarcane plantations in the Merauke food estate in the Papua region, out of a target of 350,000 hectares, an agriculture ministry official said on Thursday. Indonesia, Southeast's Asia biggest sugar consumer, i
Published 01 Jul, 2011 12:00am
US Midwest bids for corn firm, soya mixed

US Midwest bids for corn firm, soya mixed

Corn spot basis bids were firm at river terminals and processors around the US Midwest on Wednesday, supported by slow farmer sales, while soyabean bids were steady to mixed, dealers said. Country sales have been nearly non-existent in recent weeks as far
Published 01 Jul, 2011 12:00am
Message from Chief Minister Sindh

Message from Chief Minister Sindh

This is a very important Bill produced before this House, we were contesting, and we were demanding that Sales Tax on Services is a provincial subject. Therefore, provinces should be allowed to collect this tax. Most of the problems being faced by people
Published 01 Jul, 2011 12:00am
Message from Finance Minister Sindh

Message from Finance Minister Sindh

A longstanding issue of Sales Tax on services was resolved by the 7th NFC Award. Sales Tax on Services is a Provincial tax; it was provincial subject in the 1973 Constitution. Sales Tax on Services was enforced by the Sales Tax on Services Ordinance, 2000
Published 01 Jul, 2011 12:00am
Message from Adviser to Chief Minister Sindh on Development

Message from Adviser to Chief Minister Sindh on Development

The 7th NFC Agreement was a historic achievement that only a democracy could deliver. Its conclusion prior to the even more historic 18th Amendment to the Constitution of the Islamic Republic of Pakistan had particular meaning, as the fiscal autonomy that
Published 01 Jul, 2011 12:00am
Sindh Sales Tax on Services Act 2011

Sindh Sales Tax on Services Act 2011

Under the Constitution, Sales Tax on Services has historically remained a Provincial domain which led to promulgations of Sales Tax on Services Ordinances 2000 simultaneously by each Province to levy taxes on services on Port related services, Hotels, Res
Published 01 Jul, 2011 12:00am
Ramazan package: Rs two billion subsidy approved by ECC

Ramazan package: Rs two billion subsidy approved by ECC

The Economic Co-ordination Committee of the Cabinet on Thursday approved Ramazan Relief Package envisaging subsidy up to Rs two billion to ensure uninterrupted availability of essential food items to people during the holy month.
Published 01 Jul, 2011 12:00am
Automation of Tax Management of Sindh Sales Tax

Automation of Tax Management of Sindh Sales Tax

The success of a truly efficient, transparent and user friendly tax systems rests squarely on the maximum utilisation of automation and allied technologies. This is the cornerstone of all the international best practices of all successful tax administrati
Published 01 Jul, 2011 12:00am
Ramazan package: Rs two billion subsidy approved by ECC

Ramazan package: Rs two billion subsidy approved by ECC

The Economic Co-ordination Committee of the Cabinet on Thursday approved Ramazan Relief Package envisaging subsidy up to Rs two billion to ensure uninterrupted availability of essential food items to people during the holy month.
Published 01 Jul, 2011 12:00am
Genesis Of Sindh Revenue Board (SRB)

Genesis Of Sindh Revenue Board (SRB)

The recent changes in the Constitution have created new opportunities for the Provinces due to abolition of concurrent list and deletion of legislative entries in the Federal list. Resultantly, a number of departments/ministries, where Federation and the
Published 01 Jul, 2011 12:00am
Ramazan package: Rs two billion subsidy approved by ECC

Ramazan package: Rs two billion subsidy approved by ECC

The Economic Co-ordination Committee of the Cabinet on Thursday approved Ramazan Relief Package envisaging subsidy up to Rs two billion to ensure uninterrupted availability of essential food items to people during the holy month.
Published 01 Jul, 2011 12:00am
Karkey Rental Power Plant: Pepco buying power at Rs 41 per unit

Karkey Rental Power Plant: Pepco buying power at Rs 41 per unit

Pakistan Electric Power Company (Pepco) is purchasing power from 231MW Karkey Rental Power Plant at the rate of Rs 41 per unit, after the Ministry of Water and Power and Pepco failed to supply fuel to the plant as per agreement. This was disclosed at a pu
Published 01 Jul, 2011 12:00am
Karkey Rental Power Plant: Pepco buying power at Rs 41 per unit

Karkey Rental Power Plant: Pepco buying power at Rs 41 per unit

Pakistan Electric Power Company (Pepco) is purchasing power from 231MW Karkey Rental Power Plant at the rate of Rs 41 per unit, after the Ministry of Water and Power and Pepco failed to supply fuel to the plant as per agreement. This was disclosed at a pu
Published 01 Jul, 2011 12:00am
New York cotton

New York cotton

Wednesday's closing prices of New York cotton in US cents/lb.

Published 01 Jul, 2011 12:00am
Karkey Rental Power Plant: Pepco buying power at Rs 41 per unit

Karkey Rental Power Plant: Pepco buying power at Rs 41 per unit

Pakistan Electric Power Company (Pepco) is purchasing power from 231MW Karkey Rental Power Plant at the rate of Rs 41 per unit, after the Ministry of Water and Power and Pepco failed to supply fuel to the plant as per agreement. This was disclosed at a pu
Published 01 Jul, 2011 12:00am
New York cotton

New York cotton

Wednesday's closing prices of New York cotton in US cents/lb.

Published 01 Jul, 2011 12:00am
Sharp differences over devolution of seven ministries

Sharp differences over devolution of seven ministries

The cabinet was reportedly divided over the devolution of seven ministries to provinces from July 1, 2011 under the 18th amendment, revealed official documents made available to Business Recorder.
Published 01 Jul, 2011 12:00am
Sharp differences over devolution of seven ministries

Sharp differences over devolution of seven ministries

The cabinet was reportedly divided over the devolution of seven ministries to provinces from July 1, 2011 under the 18th amendment, revealed official documents made available to Business Recorder.
Published 01 Jul, 2011 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 01 Jul, 2011 12:00am
Returns on NSS to remain unchanged

Returns on NSS to remain unchanged

The Federal Government has announced that the rates of return on National Savings Schemes (NSS) shall remain unchanged. The existing rates of return on different National Savings Schemes are 13.55 percent for Defence Savings Certificates, 13.44 percent fo
Published 01 Jul, 2011 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 01 Jul, 2011 12:00am
Returns on NSS to remain unchanged

Returns on NSS to remain unchanged

The Federal Government has announced that the rates of return on National Savings Schemes (NSS) shall remain unchanged. The existing rates of return on different National Savings Schemes are 13.55 percent for Defence Savings Certificates, 13.44 percent fo
Published 01 Jul, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (June 30, 2011).

Published 01 Jul, 2011 12:00am
Returns on NSS to remain unchanged

Returns on NSS to remain unchanged

The Federal Government has announced that the rates of return on National Savings Schemes (NSS) shall remain unchanged. The existing rates of return on different National Savings Schemes are 13.55 percent for Defence Savings Certificates, 13.44 percent fo
Published 01 Jul, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Thursday (June 30, 2011).

Published 01 Jul, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (June 30, 2011).

Published 01 Jul, 2011 12:00am
Oil prices slashed by upto Rs 3 per litre

Oil prices slashed by upto Rs 3 per litre

The government has reduced the prices of different petroleum products by up to Rs 3 per litre in line with reduction in global oil prices, effective today (Friday). The price of petrol has been reduced by Rs 3 per liter, High Speed Diesel (HSD) Rs 2.01 pe
Published 01 Jul, 2011 12:00am
Oil prices slashed by upto Rs 3 per litre

Oil prices slashed by upto Rs 3 per litre

The government has reduced the prices of different petroleum products by up to Rs 3 per litre in line with reduction in global oil prices, effective today (Friday). The price of petrol has been reduced by Rs 3 per liter, High Speed Diesel (HSD) Rs 2.01 pe
Published 01 Jul, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Thursday (June 30, 2011).

Published 01 Jul, 2011 12:00am
Oil prices slashed by upto Rs 3 per litre

Oil prices slashed by upto Rs 3 per litre

The government has reduced the prices of different petroleum products by up to Rs 3 per litre in line with reduction in global oil prices, effective today (Friday). The price of petrol has been reduced by Rs 3 per liter, High Speed Diesel (HSD) Rs 2.01 pe
Published 01 Jul, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (June 30, 2011).
Published 01 Jul, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (June 30, 2011).

Published 01 Jul, 2011 12:00am
Seven leading banks deposit over Rs 4.2 billion WHT

Seven leading banks deposit over Rs 4.2 billion WHT

Seven leading banks have deposited over Rs 4.2 billion withholding tax following withholding tax audit of banking sector by the Directorate General of Intelligence and Investigation, Inland Revenue. Sources told Business Recorder here on Thursday t
Published 01 Jul, 2011 12:00am
Seven leading banks deposit over Rs 4.2 billion WHT

Seven leading banks deposit over Rs 4.2 billion WHT

Seven leading banks have deposited over Rs 4.2 billion withholding tax following withholding tax audit of banking sector by the Directorate General of Intelligence and Investigation, Inland Revenue. Sources told Business Recorder here on Thursday t
Published 01 Jul, 2011 12:00am
Seven leading banks deposit over Rs 4.2 billion WHT

Seven leading banks deposit over Rs 4.2 billion WHT

Seven leading banks have deposited over Rs 4.2 billion withholding tax following withholding tax audit of banking sector by the Directorate General of Intelligence and Investigation, Inland Revenue. Sources told Business Recorder here on Thursday t
Published 01 Jul, 2011 12:00am
43,000 rich people netted

43,000 rich people netted

Directorate General of Intelligence and Investigation, Inland Revenue (IR) Federal Board of Revenue has identified more than 100,000 out of tax net cases during three months and completed action against over 43,000 wealthy persons, reflecting encouraging
Published 01 Jul, 2011 12:00am
43,000 rich people netted

43,000 rich people netted

Directorate General of Intelligence and Investigation, Inland Revenue (IR) Federal Board of Revenue has identified more than 100,000 out of tax net cases during three months and completed action against over 43,000 wealthy persons, reflecting encouraging
Published 01 Jul, 2011 12:00am
43,000 rich people netted

43,000 rich people netted

Directorate General of Intelligence and Investigation, Inland Revenue (IR) Federal Board of Revenue has identified more than 100,000 out of tax net cases during three months and completed action against over 43,000 wealthy persons, reflecting encouraging
Published 01 Jul, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (June 30, 2011).

Published 01 Jul, 2011 12:00am
Index gains 72.73 points

Index gains 72.73 points

Investors' interest mainly in E&P sector on Thursday supported the KSE-100 index to register an increase of 72.73 points and close at 12,496.03 points on the last trading session of FY11. Initially the market witnessed a mixed trend with the index moving
Published 01 Jul, 2011 12:00am
Index gains 72.73 points

Index gains 72.73 points

Investors' interest mainly in E&P sector on Thursday supported the KSE-100 index to register an increase of 72.73 points and close at 12,496.03 points on the last trading session of FY11. Initially the market witnessed a mixed trend with the index moving
Published 01 Jul, 2011 12:00am
Index gains 72.73 points

Index gains 72.73 points

Investors'' interest mainly in E&P sector on Thursday supported the KSE-100 index to register an increase of 72.73 points and close at 12,496.03 points on the last trading session of FY11. Initially the market witnessed a mixed trend with the index moving
Published 01 Jul, 2011 12:00am
BRIndex30 down by 43.2 points

BRIndex30 down by 43.2 points

On Thursday, BRIndex30 opened at 8,632.21. It touched an intraday high of 8,689.00 and an intraday low of 8,589.01 and closed at 8,589.01 which was -43.2 points or -0.5 percent lower than previous close. Total volume was 41,361,972, which was 62.74 percen
Published 01 Jul, 2011 12:00am
BRIndex30 down by 43.2 points

BRIndex30 down by 43.2 points

On Thursday, BRIndex30 opened at 8,632.21. It touched an intraday high of 8,689.00 and an intraday low of 8,589.01 and closed at 8,589.01 which was -43.2 points or -0.5 percent lower than previous close. Total volume was 41,361,972, which was 62.74 percen
Published 01 Jul, 2011 12:00am
US rejects demands to vacate drone attack base

US rejects demands to vacate drone attack base

The United States is rejecting demands from Pakistani officials that American personnel abandon a military base used by the CIA to stage drone strikes against suspected militants, US officials told Reuters. US personnel have not left the remote military i
Published 01 Jul, 2011 12:00am
US rejects demands to vacate drone attack base

US rejects demands to vacate drone attack base

The United States is rejecting demands from Pakistani officials that American personnel abandon a military base used by the CIA to stage drone strikes against suspected militants, US officials told Reuters. US personnel have not left the remote military i
Published 01 Jul, 2011 12:00am
Geithner might quit after debt deal: Bloomberg

Geithner might quit after debt deal: Bloomberg

US Treasury Secretary Timothy Geithner might leave his job after the White House reaches a deal with Congress over raising the US debt ceiling, Bloomberg reported Thursday. Geithner, one of the stalwarts of President Barack Obama's administration and a ke
Published 01 Jul, 2011 12:00am
LSE index loses 9.20 points

LSE index loses 9.20 points

Equities on Thursday failed to maintain upward slide on the Lahore Stock Exchange (LSE) and remained under pressure due to lacking interest on the part of investors. The LSE-25 index lost 9.20 points and closed at 3051.88 points against 3061.08 points of
Published 01 Jul, 2011 12:00am
LSE index loses 9.20 points

LSE index loses 9.20 points

Equities on Thursday failed to maintain upward slide on the Lahore Stock Exchange (LSE) and remained under pressure due to lacking interest on the part of investors. The LSE-25 index lost 9.20 points and closed at 3051.88 points against 3061.08 points of
Published 01 Jul, 2011 12:00am
Equities move both ways on ISE

Equities move both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 39.82 points, as the Index moved from 2,683.01 to 2,722.
Published 01 Jul, 2011 12:00am
Equities move both ways on ISE

Equities move both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 39.82 points, as the Index moved from 2,683.01 to 2,722.
Published 01 Jul, 2011 12:00am
40 militants killed in Mohmand

40 militants killed in Mohmand

Troops backed by jets and helicopter gunships have killed 40 militants in Mohmand tribal area in the past three days, a military commander said Thursday. Brigadier Aftab Ahmad told AFP by telephone that his forces had destroyed 17 militant hideouts in the
Published 01 Jul, 2011 12:00am
40 militants killed in Mohmand

40 militants killed in Mohmand

Troops backed by jets and helicopter gunships have killed 40 militants in Mohmand tribal area in the past three days, a military commander said Thursday. Brigadier Aftab Ahmad told AFP by telephone that his forces had destroyed 17 militant hideouts in the
Published 01 Jul, 2011 12:00am
Bangladesh abolishes caretaker government for elections

Bangladesh abolishes caretaker government for elections

Bangladesh's Parliament on Thursday rescinded a 15-year-old requirement that general elections be overseen by non-partisan caretaker governments _ a move the opposition says could allow incumbents to rig the votes. The ruling coalition of Prime Minister S
Published 01 Jul, 2011 12:00am
Bangladesh abolishes caretaker government for elections

Bangladesh abolishes caretaker government for elections

Bangladesh's Parliament on Thursday rescinded a 15-year-old requirement that general elections be overseen by non-partisan caretaker governments _ a move the opposition says could allow incumbents to rig the votes. The ruling coalition of Prime Minister S
Published 01 Jul, 2011 12:00am
World's longest gas pipeline begins operation

World's longest gas pipeline begins operation

A 5,370-mile (8,700-kilometer) natural gas pipeline linking Turkmenistan with southern China has begun operating, helping boost supplies to the country's booming industrial zones, a report said Thursday. The 142.2 billion yuan ($22 billion) pipeline passe
Published 01 Jul, 2011 12:00am
World's longest gas pipeline begins operation

World's longest gas pipeline begins operation

A 5,370-mile (8,700-kilometer) natural gas pipeline linking Turkmenistan with southern China has begun operating, helping boost supplies to the country's booming industrial zones, a report said Thursday. The 142.2 billion yuan ($22 billion) pipeline passe
Published 01 Jul, 2011 12:00am
World''s longest gas pipeline begins operation

World''s longest gas pipeline begins operation

A 5,370-mile (8,700-kilometer) natural gas pipeline linking Turkmenistan with southern China has begun operating, helping boost supplies to the country''s booming industrial zones, a report said Thursday. The 142.2 billion yuan ($22 billion) pipeline pass
Published 01 Jul, 2011 12:00am
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