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Archive - 2011-07-20
Google Labs shutting down
Industry

Google Labs shutting down

SAN FRANCISCO : Google on Wednesday said it is shutting down its Labs website for creations-in-progress in order to bett
Published 20 Jul, 2011 09:34pm
Afghans take over security in Herat
Top News

Afghans take over security in Herat

HEART: NATO troops on Thursday made Afghan security forces responsible for the city of Herat, the country's western capi
Published 20 Jul, 2011 08:40pm
European stocks close higher
Financial

European stocks close higher

PARIS : European stock markets closed higher on Wednesday, boosted by hopes for progress in both the eurozone and US de
Published 20 Jul, 2011 04:45pm
ECC approves Ramazan Package
Top News

ECC approves Ramazan Package

ISLAMABAD : The Economic Coordination Committee of the Cabinet here on Wednesday approved a number of relief steps for
Published 20 Jul, 2011 04:21pm
SECP approves DST regulations
Top News

SECP approves DST regulations

ISLAMABAD : As one of the major moves towards development of a vibrant corporate debt market in Pakistan, the SECP has a
Published 20 Jul, 2011 04:09pm
PN inducts UAVs in its fleet
Top News

PN inducts UAVs in its fleet

KARACHI : In pursuit of policy of self reliance and indigenization being undertaken by Pakistan Navy, the first squadron
Published 20 Jul, 2011 02:04pm
China urges US to protect investors
Top News

China urges US to protect investors

BEIJING : China on Wednesday urged the United States to protect investor interests as US lawmakers remained at odds over
Published 20 Jul, 2011 01:38pm
At least 13 killed in Uzbekistan quake
Top News

At least 13 killed in Uzbekistan quake

TASHKENT : A major 6.2 quake in Uzbekistan killed at least 13 people and injured 86 others, when it struck on the Uzbek-
Published 20 Jul, 2011 01:34pm
Stocks, rupee end flat
Markets

Stocks, rupee end flat

ISLAMABAD : Karachi Stock Exchange (KSE) ended almost flat on Wednesday as investors selling fertiliser shares balance
Published 20 Jul, 2011 12:26pm
Afridi's father passes away
Cricket

Afridi's father passes away

ISLAMABAD: Former captain of the Pakistan cricket team Shahid Khan Afridi's father Sahabzada Fazal-ur-Rehman Afridi brea
Published 20 Jul, 2011 08:35am
Clinton heads for India investment hub
Top News

Clinton heads for India investment hub

CHENNAI: US Secretary of State Hillary Clinton headed Wednesday to the southern Indian port of Chennai , a focus of
Published 20 Jul, 2011 08:20am
Lessons from the surplus
BR Research

Lessons from the surplus

Even though the economic situation in the country shows a gloomy picture; Pakistan has witnessed a surplus in the current account after seve
Published 20 Jul, 2011 12:00am
Faysal Bank post merger
BR Research

Faysal Bank post merger

Does the FABL-RBS deal cost the investors a pretty penny? Well, it is too early to draw any conclusions on this front and the market should
Published 20 Jul, 2011 12:00am
Cities: citadels of growth
BR Research

Cities: citadels of growth

In the modern-day battle of economies, countries are becoming increasingly irrelevant. Instead, the fight has been taken to the cities, whic
Published 20 Jul, 2011 12:00am
Goldman's profit engine stalls

Goldman's profit engine stalls

Goldman Sachs Group Inc rattled investors with earnings that fell far short of expectations because of sharp declines in bond trading revenue, long a key source of profits for the investment bank. Goldman, once Wall Street's largest bond trading house, re
Published 20 Jul, 2011 12:00am
Global capital surcharge to affect 28 big banks

Global capital surcharge to affect 28 big banks

A global regulatory task force said on Tuesday its planned capital requirement surcharge to make the world's biggest banks safer will affect 28 banks initially. The Financial Stability Board (FSB) did not name the banks in its consultation paper on the ne
Published 20 Jul, 2011 12:00am
Scientists find rice 'chalk' gene, eye yield rise

Scientists find rice 'chalk' gene, eye yield rise

Scientists expect to soon be able to remove a chalk-like part of rice, dramatically raising global harvests amid rising demand for the staple, an international research outfit said Tuesday. The International Rice Research Institute announced the breakthro
Published 20 Jul, 2011 12:00am
German investor sentiment falls again

German investor sentiment falls again

Investor confidence in Germany has fallen in July for the second month running on worries about the eurozone debt crisis, US growth and the US debt ceiling stalemate, the ZEW indicator showed on Tuesday. The closely watched ZEW economic expectations index
Published 20 Jul, 2011 12:00am
Benazirabad fire incident: ACC to decide fate of PMCH officials

Benazirabad fire incident: ACC to decide fate of PMCH officials

Anti Corruption Committee (ACC-1) would decide the fate of matter against the officials of Peoples Medical College Hospital (PMCH) of Benazirabad (Nawabshah), well-placed sources told Business Recorder. Inquiries and Anti-Corruption Establishment (
Published 20 Jul, 2011 12:00am
JS Cash Fund declared as margin eligible security

JS Cash Fund declared as margin eligible security

JS Cash Fund, the money market fund offered by JS Investments Limited, has been declared as a margin eligible security acceptable by Karachi Stock Exchange (KSE) as collateral for all markets, with effect from August 15, 2011. Units of JS Cash Fund are CD
Published 20 Jul, 2011 12:00am
JS Cash Fund declared as margin eligible security

JS Cash Fund declared as margin eligible security

JS Cash Fund, the money market fund offered by JS Investments Limited, has been declared as a margin eligible security acceptable by Karachi Stock Exchange (KSE) as collateral for all markets, with effect from August 15, 2011. Units of JS Cash Fund are CD
Published 20 Jul, 2011 12:00am
PML-N convenes meeting of like-minded opposition parties on July 21

PML-N convenes meeting of like-minded opposition parties on July 21

Pakistan Muslim League-Nawaz (PML-N) convened meeting of like-minded opposition parties in Upper House of the Parliament on Thursday (tomorrow) to deliberate upon the ruling of Chairman Senate on appointment of Leader of the Opposition in Senate and to an
Published 20 Jul, 2011 12:00am
PPP always respects judiciary: Babar Awan

PPP always respects judiciary: Babar Awan

While talking to media in Supreme Court premises on Tuesday, former law minister Dr Babar Awan said that those who attacked SC and Police stations were teaching us how to respect the judiciary.
Published 20 Jul, 2011 12:00am
KASB acquires Crosby Asset Management

KASB acquires Crosby Asset Management

KASB Funds Limited announces the successful completion of acquisition of Crosby Asset Management (Pakistan) Limited (CAMPL) and its simultaneous merger with and into KASB Funds Limited.
Published 20 Jul, 2011 12:00am
KASB acquires Crosby Asset Management

KASB acquires Crosby Asset Management

KASB Funds Limited announces the successful completion of acquisition of Crosby Asset Management (Pakistan) Limited (CAMPL) and its simultaneous merger with and into KASB Funds Limited.
Published 20 Jul, 2011 12:00am
Murder case: Supreme Court seeks explanation from a judicial magistrate

Murder case: Supreme Court seeks explanation from a judicial magistrate

A Supreme Court bench at Lahore registry here Tuesday sought an explanation from a judicial magistrate in a petition filed by Azam Ikram, son of deceased retired army colonel, seeking registration of a murder case against former Punjab Chief Secretary Jav
Published 20 Jul, 2011 12:00am
PPP-MQM re-alliance good omen: Elahi

PPP-MQM re-alliance good omen: Elahi

Senior federal minister, Chaudhry Parvez Elahi Tuesday said that the re-alliance between PPP and MQM is a good omen, as it would guarantee peace in Karachi. Talking to reporters here, Elahi hoped that PPP-MQM alliance will last and help resolve issues.
Published 20 Jul, 2011 12:00am
Man's body found near Shakar Parrian

Man's body found near Shakar Parrian

Capital Police found a body of Asghar Ali from rainy nullah near Shakar Parrian on Tuesday morning while people were deprived of one car and one motorcycle during last 24 hours. Police busted a gang of motorcycle lifters, nabbed four persons for their all
Published 20 Jul, 2011 12:00am
PC, IUCN organise seminar on SEA in development planning process

PC, IUCN organise seminar on SEA in development planning process

The Planning Commission (PC) of Pakistan in collaboration with the international Union for Conservation of Nature (IUCN) organised a seminar aimed at contributing sustainable development in Pakistan by strengthening Environmental Impact Assessment (EIA) a
Published 20 Jul, 2011 12:00am
Samsung introduces 'Virus Doctor' air conditioners

Samsung introduces 'Virus Doctor' air conditioners

Samsung Electronics, a global market leader and award-winning innovator in consumer electronics, semiconductors and telecommunications, has unveiled the revolutionary Plasma Ionizer "Virus Doctor" air-conditioners which improve indoor air quality and enha
Published 20 Jul, 2011 12:00am
Anjum Aqeel's bail extended till 25th

Anjum Aqeel's bail extended till 25th

Court has extended the interim bail of Anjum Aqeel, PML-N MNA and former DIG Laeeq Ahmed in Rs 6 billion National Police Foundation (NPF) land scam till July 25, directing the prosecution to ensure that complete charge sheet be presented before the court
Published 20 Jul, 2011 12:00am
Girls secure top positions in SSC Part II exams

Girls secure top positions in SSC Part II exams

Board of Secondary Education Karachi (BSEK) has announced the results of Secondary School Certificate (SSC) Part-II annual examination 2011 General Group (Regular and Private) on Tuesday.
Published 20 Jul, 2011 12:00am
Condolence

Condolence

Vice Chancellor Punjab University, Professor Dr Mujahid Kamran met with Public Relations Officer Khuram Shehzad at his residence to condole the death of his mother, here on Tuesday. The vice chancellor expressed his deep grief and sorrow over the sad demi
Published 20 Jul, 2011 12:00am
Vehari District: Ufone, Plan International to set up thalassaemia centre

Vehari District: Ufone, Plan International to set up thalassaemia centre

In continuation of the health initiatives, Ufone, one of the leading telecom companies and a responsible corporate company of Pakistan, has partnered with Plan International for the establishment of a Thalassaemia center at the District Headquarters hospi
Published 20 Jul, 2011 12:00am
PN ships Madadgar and Rasadgar commissioned

PN ships Madadgar and Rasadgar commissioned

PN ships Madadgar and Rasadgar, the Small Tanker-cum-Utility Ships (STUS) have been commissioned and PNS Alamgir formally inducted in Pakistan Navy Fleet during an impressive ceremony held at Pakistan Navy Dockyard here on Tuesday. The Chief of Naval Staf
Published 20 Jul, 2011 12:00am
SCS becomes inactive member of KSE

SCS becomes inactive member of KSE

The Karachi Stock Exchange (KSE) on Tuesday announced that the status of Shehzad Chamdia Securities (SCS) has been changed to an inactive member of the exchange with immediate effect. According to a KSE notice the decision has been taken on the request of
Published 20 Jul, 2011 12:00am
Returned candidates ECP to hear viewpoint on August 13

Returned candidates ECP to hear viewpoint on August 13

A meeting of the Election Commission of Pakistan (ECP) was held here on Tuesday with Chief Election Commissioner of Pakistan, former Justice Hamid Ali Mirza in the chair attended by members of the ECP, namely, former Justice Riaz Kayani, former Justice Sh
Published 20 Jul, 2011 12:00am
Nadra, AF sign MoU on women rights

Nadra, AF sign MoU on women rights

National Database and Registration Authority (NADRA) decided to engage NGOs, particularly those working for women rights to have most of the women folks on national database not registered earlier.
Published 20 Jul, 2011 12:00am
Rs 45.186 million allocated for promotion of scouting in Fata

Rs 45.186 million allocated for promotion of scouting in Fata

Federal Government has allocated Rs 45.186 million for promotion of Scouting in FATA under a Youth Capacity Building Programme and 18,000 students of primary, middle and high standard as well as of college will be inducted in the FATA Scouting Movement du
Published 20 Jul, 2011 12:00am
Two PN ships arrive in China

Two PN ships arrive in China

A warm welcome was accorded to two Chinese built Pakistan Navy ships, PNS Shamsher and PNS Nasr, when they arrived at Qingdao naval port on Tuesday morning. The ships were received by a large group of Peoples Liberation Army (PLA) Navy officers, officials
Published 20 Jul, 2011 12:00am
NFEH announces Environment Excellence Awards for 65 companies

NFEH announces Environment Excellence Awards for 65 companies

National Forum for Environment and Health (NFEH) announced results of eighth Annual Environment Excellence Awards (AEEA) for best performance of 2010-11. This was announced by Chairman Dr Kaiser Waheed and President NFEH Naeem Qureshi during the final mee
Published 20 Jul, 2011 12:00am
PakGen share trading to begin on July 21

PakGen share trading to begin on July 21

The Karachi Stock Exchange (KSE) has approved the formal listing and quotation of shares of Pakgen Power Limited on completion of all formalities required under the Listing Regulations of the exchange.
Published 20 Jul, 2011 12:00am
PakGen share trading to begin on July 21

PakGen share trading to begin on July 21

The Karachi Stock Exchange (KSE) has approved the formal listing and quotation of shares of Pakgen Power Limited on completion of all formalities required under the Listing Regulations of the exchange.
Published 20 Jul, 2011 12:00am
'Global Food Safety Awards' on July 23

'Global Food Safety Awards' on July 23

Speaker Sindh Assembly, Nisar Ahmed Khuhro, Federal Minister for Commerce, Makhdoom Amin Fahim and many other prominent personalities are likely to present awards to over 25 companies at Global Food Safety Awards-2011 (GFSA-2011) ceremony organised by Glo
Published 20 Jul, 2011 12:00am
Egypt minister commits to market economy

Egypt minister commits to market economy

Egypt's finance minister-designate told Reuters on Tuesday that the government was committed to a market economy and to creating an environment in which investors could predict the future "reasonably well".
Published 20 Jul, 2011 12:00am
South Korea unveils steps to restrict some onshore FX bonds

South Korea unveils steps to restrict some onshore FX bonds

South Korea unveiled on Tuesday a long-anticipated restriction on sales of bonds denominated in foreign currency but intended to raise won funds in the latest move to contain the build-up of foreign debts in Asia's fourth-largest economy.
Published 20 Jul, 2011 12:00am
South Korea unveils steps to restrict some onshore FX bonds

South Korea unveils steps to restrict some onshore FX bonds

South Korea unveiled on Tuesday a long-anticipated restriction on sales of bonds denominated in foreign currency but intended to raise won funds in the latest move to contain the build-up of foreign debts in Asia's fourth-largest economy.
Published 20 Jul, 2011 12:00am
Kuwait central bank says government needs to boost spending

Kuwait central bank says government needs to boost spending

Kuwait needs to increase government spending and support the private sector to overcome imbalances in its economy, the central bank governor said in an interview aired on Tuesday. The OPEC member's "unilateral" dependence on oil and the government's contr
Published 20 Jul, 2011 12:00am
Total UK bonus payments flat

Total UK bonus payments flat

The amount of bonuses paid out across the whole of the British economy from April 2010 to March 2011 was unchanged from the previous year at 35 billion pounds ($56 billion), the UK's Office for National Statistics said. The statistics body added on Tuesda
Published 20 Jul, 2011 12:00am
Bank of Canada holds rate, sees hike on the horizon

Bank of Canada holds rate, sees hike on the horizon

The Bank of Canada held its key interest rate steady on Tuesday, as expected, but hinted more strongly than before that it would resume hiking soon as the sturdy domestic economy contrasts with rising risks globally.
Published 20 Jul, 2011 12:00am
Japan's yield spillover effect could exceed forecasts: IMF

Japan's yield spillover effect could exceed forecasts: IMF

Japan's large public debt makes it increasingly vulnerable to a rise in bond yields, and the "spillover" impact on yields in other countries could be greater than economic models suggest because of fiscal strains there, the International Monetary Fund sai
Published 20 Jul, 2011 12:00am
Vietnam exports hit record high

Vietnam exports hit record high

The value of Vietnam's exports in June reached a record high of $8.46 billion, which helped narrow the monthly trade deficit to $160 million, the customs department said on Tuesday, revising down a government estimate of $400 million.
Published 20 Jul, 2011 12:00am
Cisco to cut workforce by 15 percent, sell factory to Hon Hai

Cisco to cut workforce by 15 percent, sell factory to Hon Hai

Cisco Systems plans to cut 15 percent of its staff and sell a set-top box factory as part of a plan to cut annual expenses by $1 billion as the network equipment maker tries to revive its fortunes. The company said on Monday that it will cut 11,500 jobs,
Published 20 Jul, 2011 12:00am
Cisco to cut workforce by 15 percent, sell factory to Hon Hai

Cisco to cut workforce by 15 percent, sell factory to Hon Hai

Cisco Systems plans to cut 15 percent of its staff and sell a set-top box factory as part of a plan to cut annual expenses by $1 billion as the network equipment maker tries to revive its fortunes. The company said on Monday that it will cut 11,500 jobs,
Published 20 Jul, 2011 12:00am
PCB softens stance over ICC Task Team report

PCB softens stance over ICC Task Team report

The Pakistan Cricket Board (PCB) has softened its hard-line stance on recommendations proposed in an International Cricket Council (ICC) report on improving the organisation of the sport in the South-Asian country.
Published 20 Jul, 2011 12:00am
Pakistan gains nothing from European tour: Samillah

Pakistan gains nothing from European tour: Samillah

Hockey legend Samillah Khan opined that Pakistan team achieved nothing during the month-long European tour as they tried limited number of youngsters. "Pakistan team hardly gained anything from European trip with 80 percent old lot and 20 percent youngste
Published 20 Jul, 2011 12:00am
Contador stuns Schlecks as Hushovd wins stage 16

Contador stuns Schlecks as Hushovd wins stage 16

Tour de France champion Alberto Contador fired a warning shot on Tuesday by partially closing his deficit to key rivals for the yellow jersey after a stunning attack on the 16th stage of the race. Thor Hushovd of Garmin-Cervelo outsprinted Norwegian compa
Published 20 Jul, 2011 12:00am
Pakistan physically handicap team wins series versus Afghanistan

Pakistan physically handicap team wins series versus Afghanistan

Pakistan physically handicap team recorded a series victory against Afghanistan in the Friendship Cricket Series of three-dayer and two T20 matches played here at University Campus ground on Tuesday. Provincial Minister for Social Welfare and Special Educ
Published 20 Jul, 2011 12:00am
Afridi's fine deducted from his dues

Afridi's fine deducted from his dues

Pakistan former limited overs skipper Shahid Afridi's fine of Rs 4.5 million has been deducted by the Pakistan Cricket Board (PCB) from the dues that were to be paid to him for the World Cup and tour to West Indies. The fine was charged by the PCB discipl
Published 20 Jul, 2011 12:00am
Waugh takes lie-detector test in corruption fight

Waugh takes lie-detector test in corruption fight

Former Australia captain Steve Waugh has taken a lie-detector test as part of his bid to help root corruption out of cricket. Waugh believes making players submit to examination by lie-detectors, or polygraphs as they are also known, could help drive chea
Published 20 Jul, 2011 12:00am
Britain's Payne takes gold as China's divers leap forward

Britain's Payne takes gold as China's divers leap forward

Olympic hosts Britain struck gold at the world aquatics championships Tuesday as China bagged another two diving titles to stand just four away from sweeping all 10. Britain's Keri-Anne Payne was overjoyed with her win in the women's 10km open water event
Published 20 Jul, 2011 12:00am
Sri Lankan top stars to miss premier league

Sri Lankan top stars to miss premier league

Sri Lanka's top stars will skip most of the matches in the country's inaugural premier league Twenty20, dealing another blow to the struggling event, an official said Tuesday. Skipper Tilakaratne Dilshan, former captains Kumar Sangakkara and Mahela Jayawa
Published 20 Jul, 2011 12:00am
ICC ponders 'timeless' Test final

ICC ponders 'timeless' Test final

The new world Test championship could witness the first 'timeless' Test in more than 70 years, according to Haroon Lorgat. The International Cricket Council (ICC) chief executive said the format, where matches are played to a finish, regardless of time co
Published 20 Jul, 2011 12:00am
Dhoni's WC bat fetches $160,500

Dhoni's WC bat fetches $160,500

The cricket bat used by India skipper Mahendra Singh Dhoni to hit a match-winning six in the World Cup final has fetched a staggering £100,000 ($160,500) at an auction, media reported Tuesday. The auction was held in London on Monday to raise funds for hi
Published 20 Jul, 2011 12:00am
Vettori joins Heat for Big Bash

Vettori joins Heat for Big Bash

Former New Zealand Test captain Daniel Vettori on Tuesday became the second international to sign with Brisbane Heat for Australia's Twenty20 Big Bash next summer. The left-arm spinner, who has taken 79 wickets in 70 career T20 games at an average of 20.9
Published 20 Jul, 2011 12:00am
Kenya appoints Hesson as coach

Kenya appoints Hesson as coach

Kenya have appointed New Zealander Michael Hesson as the new cricket national coach, officials said on Tuesday. The Dunedin-born Hesson, 36, is widely regarded as one of the best young coaches in the game, having been involved in coaching the New Zealand
Published 20 Jul, 2011 12:00am
Bangladesh coach aims for consistency

Bangladesh coach aims for consistency

Bangladesh's new coach Stuart Law says consistency, stability and unity will be key to the country's bid to improve its Test and one-day rankings. Bangladesh, who failed to qualify for the World Cup quarter-finals this year, are currently a lowly ninth in
Published 20 Jul, 2011 12:00am
Moong Punjab sharply higher on grain market

Moong Punjab sharply higher on grain market

Ramazan Packages started arriving ahead of Ramazan as prices of moong Punjab went up on the wholesale grain market on Tuesday as many participants were on the sidelines due to higher trend in the prices, dealers said.
Published 20 Jul, 2011 12:00am
Spot rate, lint prices fall on cotton market on steady arrivals

Spot rate, lint prices fall on cotton market on steady arrivals

Steady phutti arrivals pushed rates down on the cotton market on Tuesday and some ginners got panicked, started selling to save themselves from further losses, dealers said. The Karachi Cotton Association (KCA) official spot rate was downed by Rs 200 to R
Published 20 Jul, 2011 12:00am
Oil cake market rates

Oil cake market rates

Both the futures were higher on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The July contract that had closed at 1427.00 opened with 50 paisa rise at Rs 1427.50. The December vaida which ended at Rs 1315.00 commen
Published 20 Jul, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 113,764 tonnes of cargo including 89,934 tonnes of import cargo, 23,830 tonnes of export cargo and 3,816 loaded & empty containers during last 24 hours ended at 0700 hours on Tuesday.
Published 20 Jul, 2011 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures fell on Monday to their biggest loss in more than two weeks, as improving US crop weather weighed down agricultural futures, traders said. Farmer canola selling may have drawn some commercial hedges and exporter demand appears
Published 20 Jul, 2011 12:00am
Vietnam should import more sugar to cool prices: government

Vietnam should import more sugar to cool prices: government

Vietnam should consider importing more sugar to cool a probable rise in prices in October/November when stocks fall due to strong consumption during a mid-autumn festival, a government report said on Tuesday.
Published 20 Jul, 2011 12:00am
Bangladeshi tea prices rise

Bangladeshi tea prices rise

The average price of Bangladeshi teas edged higher to 161.46 taka ($2.1) a kg at weekly auction on Tuesday from 159.62 a week earlier, brokers said, after falling continuously over the past four weeks. More than 1.55 million kg of tea were offered, with 2
Published 20 Jul, 2011 12:00am
Indonesia's 2011 coffee exports to fall a third

Indonesia's 2011 coffee exports to fall a third

Coffee exports from Indonesia, the world's second-largest robusta producer after Vietnam, could fall about a third to 300,000 tonnes in 2011 as supply constraints lead to tight stocks at the end of the year, a senior industry official said on Tuesday.
Published 20 Jul, 2011 12:00am
Fresh wave of violence hits city as 10 killed in various areas

Fresh wave of violence hits city as 10 killed in various areas

After a brief lull, fresh wave of violence hit the city on Tuesday, as 10 people including an MQM worker were killed in different parts of the city here on Tuesday. Police said that a man, identified as Mohammed Iftikhar, 30, son of Abbas, was found dead
Published 20 Jul, 2011 12:00am
Power demand seen reaching 36,000MW by 2015

Power demand seen reaching 36,000MW by 2015

The growing energy demand of 8.8 percent indicates that the country's overall power demand will reach 36,000 MW by 2015 and a staggering 114,000 MW by 2030 which required concerted efforts to attract investment for meeting the challenge.
Published 20 Jul, 2011 12:00am
Gilani seeks Britain's assistance for access to EU markets

Gilani seeks Britain's assistance for access to EU markets

Prime Minister Syed Yousuf Raza Gilani on Tuesday urged increased trade and market access for Pakistani products into the European markets to stabilise country's economy and address issues of poverty and unemployment. The prime minister was talking to Bri
Published 20 Jul, 2011 12:00am
Administrator approves surplus budget 2011-12 for CDGL

Administrator approves surplus budget 2011-12 for CDGL

Administrator Lahore Ahad Khan Cheema on Tuesday approved a surplus budget of City District Government Lahore (CDGL) for the fiscal year 2011-12 with a total outlay of Rs 20.68 billion. According to a city government's spokesperson, Rs 3.39 billion is all
Published 20 Jul, 2011 12:00am
Musharraf greets nation over APML registration with ECP

Musharraf greets nation over APML registration with ECP

All Pakistan Muslim League (APML) President and former President Pervez Musharraf has felicitated Pakistani nation over registration of APML with the Election Commission of Pakistan (ECP). APML leader Javaid Badr said on Tuesday that those who hatched con
Published 20 Jul, 2011 12:00am
Rice production may decrease in Sindh

Rice production may decrease in Sindh

Rice production in Sindh would likely be decreased in 2011, in comparison of production of 2010, because a large number of flood-hit growers could not cultivate rice crops on their lands due to dread of floods.
Published 20 Jul, 2011 12:00am
Outages, violence hit cottage industries badely

Outages, violence hit cottage industries badely

Permanent electricity shortage and unrest in the metropolis have pushed at least 60 percent cottage industries to closures with thousands of labourers jobless, said small traders on Tuesday.
Published 20 Jul, 2011 12:00am
Contempt of court case: LHC summons Colonel Nadeem

Contempt of court case: LHC summons Colonel Nadeem

A division bench of the Lahore High Court here on Tuesday issued notice to Chenab Rangers' wing commander Colonel Nadeem Ahmad Karim in a contempt of court petition and directed him to file his reply by July 27. The petitioner Muhammad Asif of Narowal con
Published 20 Jul, 2011 12:00am
Elahi apprehends ruining of LRMTS project: Punjab government criticised

Elahi apprehends ruining of LRMTS project: Punjab government criticised

Pakistan Muslim League-Q leader and senior federal minister Chaudhry Parvez Elahi Tuesday said that work on Lahore Rapid Mass Transit System (LRMTS) Project was initiated by his party's government in 2004 and expressed apprehension that the incumbent Punj
Published 20 Jul, 2011 12:00am
Mother of Slic chairman dies

Mother of Slic chairman dies

Chairman State Life Insurance Shahid Aziz Siddique's mother Shikoh Ara Siddique wife of late Aziz Ismail Siddique passed away here on Tuesday. She was 80. Her funeral prayer will be offered on Wednesday after Zuhar at Sultan Masjid, Khyban-e-Behria Defenc
Published 20 Jul, 2011 12:00am
Anis Marghoob appointed Acting Auditor General

Anis Marghoob appointed Acting Auditor General

President Asif Ali Zardari on Tuesday approved the appointment of Anis Marghoob as Acting Auditor General, pending the appointment of a regular Auditor General, a statement issued by Spokesperson to the President Farhatullah Babar said.
Published 20 Jul, 2011 12:00am
Postgraduate students: schedule for filing exam forms notified

Postgraduate students: schedule for filing exam forms notified

The University of Sindh has notified schedule for filling of examination forms for M.A, M.Sc and M.Com previous and final by candidates of Postgraduate colleges affiliated with the University for the Annual Examination 2010.
Published 20 Jul, 2011 12:00am
LHC stays termination of 1,173 Pepco employees

LHC stays termination of 1,173 Pepco employees

A division bench of Lahore High Court here Tuesday stayed termination of at-least 1,173 employees of Pakistan Electric Power Company (Pepco) and Faisalabad and Gujranwala electric supply companies.
Published 20 Jul, 2011 12:00am
Gunmen kidnap eight Pakistani aid workers

Gunmen kidnap eight Pakistani aid workers

Gunmen kidnapped eight Pakistani aid workers who had been distributing food to refugees in a dangerous part of the country close to the Afgan border, authorities said Tuesday. They were seized late Monday in the Surkhab area of Balochistan, said local adm
Published 20 Jul, 2011 12:00am
Finance minister gets briefing on World Bank programmes

Finance minister gets briefing on World Bank programmes

World Bank Country Director, Rachid Benmassoud Tuesday called on Federal Minister for Finance and Economic Affairs, Dr Abdul Hafeez Shaikh at his office. During the meeting, World Bank Country director briefed the minister about World Banks commitment, di
Published 20 Jul, 2011 12:00am
US MIDDAY: gold retreats

US MIDDAY: gold retreats

Gold prices eased from a record above $1,600 an ounce early on Tuesday and were on track to snap an unprecedented 11-day rally as improved risk sentiment sapped some of the precious metal's safe-haven demand. Assets such as equities and the euro raced hig
Published 20 Jul, 2011 12:00am
US MIDDAY: copper rises

US MIDDAY: copper rises

Copper touched its priciest levels in more than three months on Tuesday as upbeat demand prospects in two of the world's biggest consumers helped to keep a surprisingly strong summer rally intact. In New York, the key September COMEX contract shot up 6.50
Published 20 Jul, 2011 12:00am
US MIDDAY: corn rebounds

US MIDDAY: corn rebounds

US corn prices rebounded nearly 2 percent on Tuesday as a heatwave across the US Corn Belt threatened to drag down the yield potential of a crop already hurt by scorching temperatures over the past week. Chicago Board of Trade September corn jumped 1.2 pe
Published 20 Jul, 2011 12:00am
US MIDDAY: sugar and coffee stable

US MIDDAY: sugar and coffee stable

Sugar and coffee futures on ICE stabilised early on Tuesday, consolidating after risk aversion triggered by the worsening euro zone and US debt crisis dragged on commodities during the previous session. Cocoa futures were mixed, remaining rangebound as de
Published 20 Jul, 2011 12:00am
Gold eases in Europe

Gold eases in Europe

Gold prices eased a touch on Tuesday after earlier hitting record highs, as a rebound in assets seen as higher risk, such as shares and the euro, took some of the heat out of the appetite for safe havens.
Published 20 Jul, 2011 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold held steady below its record high on Tuesday, on course for a 12th straight day of gains, as growing sovereign debt worries on either side of the Atlantic continued to support sentiment. Spot gold rose to as high as $1,606.70 an ounce, just a hair of
Published 20 Jul, 2011 12:00am
US gold soars to record

US gold soars to record

Gold marched to a record above $1,600 on Monday, stretching its rally to an unprecedented eleventh day on fears that US lawmakers could fail to raise the debt ceiling to avert a default. Gold rallied even as the US dollar strengthened, helping the preciou
Published 20 Jul, 2011 12:00am
Liffe sugar and coffee down

Liffe sugar and coffee down

Sugar and coffee futures careened lower on Tuesday while cocoa was mixed as investors in soft commodities remained uncertain about the debt crisis in Europe and the United States. London's October white sugar futures dipped 10 cents to trade at $753 a ton
Published 20 Jul, 2011 12:00am
Malaysian palm oil climbs

Malaysian palm oil climbs

Malaysia palm oil futures climbed 0.9 percent on Tuesday on concerns of hot weather affecting US grain crops and talk of higher exports. The health of US corn and soybean crops have declined more than expected last week as drier weather affected key growi
Published 20 Jul, 2011 12:00am
New York sugar, coffee and cocoa slide

New York sugar, coffee and cocoa slide

Raw sugar, arabica coffee and cocoa futures ended lower across the board Monday due to rising worries over the euro debt zone crisis and the prospect that the United States could default on its debt next month. Key October sugar futures shed 0.03 cent to
Published 20 Jul, 2011 12:00am
Tokyo rubber down; Shanghai up

Tokyo rubber down; Shanghai up

Key Tokyo rubber futures settled nearly flat in thin trade on Tuesday as concerns about debt crises in Europe and the United States kept investors to the sidelines, but a recovery in oil prices and gains in Shanghai rubber lent support.
Published 20 Jul, 2011 12:00am
Crude and Brent oil up

Crude and Brent oil up

Crude oil ended higher on Tuesday as strong US housing data, a weaker dollar and a positive outlook on the unfolding events of the eurozone debt crisis bolstered demand expectations in the world's top oil consumer. US housing starts rose to a six-month hi
Published 20 Jul, 2011 12:00am
Copper climbs

Copper climbs

Copper rose to its highest in more than three months on Tuesday on data that offered hope for the battered US housing market, a weaker dollar and prospects of firm China demand, which helped offset investor anxiety over debt crises in the United States an
Published 20 Jul, 2011 12:00am
Shanghai copper gains

Shanghai copper gains

Shanghai third month copper contract rose 1.3 percent to close at 72,830 yuan per tonne on Tuesday. The spread between front-month Shanghai copper and the third month has switched to a contango of 280 yuan per tonne on Tuesday from a backwardation of as h
Published 20 Jul, 2011 12:00am
US copper eases

US copper eases

In New York, prices failed to sustain late gains on Monday. The key September COMEX contract eased 1 cent to settle at $4.4030 per lb. Following a recent shake-out that saw prices lose about 15 percent of their value from the April highs, investors are no
Published 20 Jul, 2011 12:00am
New York cotton settles higher

New York cotton settles higher

Cotton futures settled higher on Tuesday on investor short-covering as the market rebounded from its fall in the previous session to a nine-month low although players are still fretting over the unresolved debt woes in the United States and Europe, analys
Published 20 Jul, 2011 12:00am
New York cotton

New York cotton

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

Published 20 Jul, 2011 12:00am
New York cotton

New York cotton

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

Published 20 Jul, 2011 12:00am
New hope for durable peace

New hope for durable peace

Well, cheer up, peace comes at the most unexpected times. Muttahida Qaumi Movement has made an unexpected comeback. Its senior leader Dr Ishartul Ebad has resumed the office of Sindh governor as "desired" by President Asif Ali Zardari and "directed" by pa
Published 20 Jul, 2011 12:00am
SBP's priorities need not be aligned with MoF's

SBP's priorities need not be aligned with MoF's

According to a newspaper report, exporters are not being paid duty drawbacks and compensated against R&D claims by the State Bank of Pakistan because of unavailability of funds from the government on the score.
Published 20 Jul, 2011 12:00am
The need for easy monetary policy

The need for easy monetary policy

The major problems, the economy of Pakistan, is facing in recent years, are the macroeconomic imbalances and sluggishness of the economy. On the one hand, the whole burden lies on the shoulders of the vulnerable class in the form of high food and non-food
Published 20 Jul, 2011 12:00am
The ultimate choice

The ultimate choice

The budgetary deficit stood at 6.7 percent of the GDP during the FY 2009-2010 owing to foreign debt liability of US $59 billion and internal debt hovering around Rs 5000 billion. This huge debt accumulated over the last six decades due to the reckless eco
Published 20 Jul, 2011 12:00am
International Space Station remains a shuttle legacy

International Space Station remains a shuttle legacy

The space shuttle Atlantis might have flown off from the International Space Station for the last time early Tuesday, but the flying laboratory will remain as an orbiting reminder of the shuttle programme for at least the next decade.
Published 20 Jul, 2011 12:00am
The American strategic plan for Afghanistan

The American strategic plan for Afghanistan

According to a report America is working on a plan at Strategic Plans Division, Nato HQ in Brussels to withdraw most of the troops by the end of 2012 leaving up to 12,000 behind. This withdrawal policy is equated with a similar policy they made for Iraq i
Published 20 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 20 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 20 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 Tuesday (July 19, 2011).

Published 20 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 Tuesday (July 19, 2011).

Published 20 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 Tuesday (July 19, 2011).

Published 20 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 Tuesday (July 19, 2011).

Published 20 Jul, 2011 12:00am
Yaseen Anwar takes over as Acting SBP Governor

Yaseen Anwar takes over as Acting SBP Governor

Yaseen Anwar on Tuesday took over as Acting Gover-nor of the State Bank of Pak-istan following acceptance of the resignation of SBP Governor Shahid H Kardar. During last one year, for the second time Yaseen Anwar had been given charge of acting governor o
Published 20 Jul, 2011 12:00am
Yaseen Anwar takes over as Acting SBP Governor

Yaseen Anwar takes over as Acting SBP Governor

Yaseen Anwar on Tuesday took over as Acting Gover-nor of the State Bank of Pak-istan following acceptance of the resignation of SBP Governor Shahid H Kardar. During last one year, for the second time Yaseen Anwar had been given charge of acting governor o
Published 20 Jul, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (July 19, 2011).
Published 20 Jul, 2011 12:00am
Yaseen Anwar takes over as Acting SBP Governor

Yaseen Anwar takes over as Acting SBP Governor

Yaseen Anwar on Tuesday took over as Acting Gover-nor of the State Bank of Pak-istan following acceptance of the resignation of SBP Governor Shahid H Kardar. During last one year, for the second time Yaseen Anwar had been given charge of acting governor o
Published 20 Jul, 2011 12:00am
Spot dollar rates

Spot dollar rates

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

Published 20 Jul, 2011 12:00am
Two Presidents meet amid new tensions

Two Presidents meet amid new tensions

Afghan President Hamid Karzai held talks with his Pakistani counterpart, Asif Ali Zardari, on Tuesday amid heightened tension between the neighbours and as some Afghan lawmakers raised fears that Pakistan's spy agency was behind recent assassinations.
Published 20 Jul, 2011 12:00am
Two Presidents meet amid new tensions

Two Presidents meet amid new tensions

Afghan President Hamid Karzai held talks with his Pakistani counterpart, Asif Ali Zardari, on Tuesday amid heightened tension between the neighbours and as some Afghan lawmakers raised fears that Pakistan's spy agency was behind recent assassinations.
Published 20 Jul, 2011 12:00am
India urges caution over US pullout

India urges caution over US pullout

India on Tuesday urged the United States to consider the "ground realities" in Afghanistan and ensure its troop pulldown does not provide space for the re-emergence of Taliban-sponsored "terrorism."
Published 20 Jul, 2011 12:00am
India urges caution over US pullout

India urges caution over US pullout

India on Tuesday urged the United States to consider the "ground realities" in Afghanistan and ensure its troop pulldown does not provide space for the re-emergence of Taliban-sponsored "terrorism."
Published 20 Jul, 2011 12:00am
Pakistan to put off APTTA implementation for two months

Pakistan to put off APTTA implementation for two months

Pakistan is to put off implementation of the much talked about Afghanistan Pakistan Transit Trade Agreement (APTTA) for two months, as Pakistani insurance companies have refused to accept guarantees of Afghan banks, sources in Commerce Ministry told Bu
Published 20 Jul, 2011 12:00am
Pakistan to put off APTTA implementation for two months

Pakistan to put off APTTA implementation for two months

Pakistan is to put off implementation of the much talked about Afghanistan Pakistan Transit Trade Agreement (APTTA) for two months, as Pakistani insurance companies have refused to accept guarantees of Afghan banks, sources in Commerce Ministry told Bu
Published 20 Jul, 2011 12:00am
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