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Archive - 2011-08-03
US stocks end losing streak
Financial

US stocks end losing streak

NEW YORK : US stocks closed higher on Wednesday, as the Dow Jones Industrial Average ended an eight-day losing streak an
Published 03 Aug, 2011 08:46pm
US AAA rating still under threat
Top News

US AAA rating still under threat

WASHINGTON : The United States could still faces an unprecedented downgrade of its triple-A credit rating, despite t
Published 03 Aug, 2011 08:32pm
IMF welcomes US debt and deficit pact
Top News

IMF welcomes US debt and deficit pact

WASHINGTON : IMF chief Christine Lagarde applauded the US plan to raise its debt ceiling and cut its deficit signed on T
Published 03 Aug, 2011 08:55am
CPI in July goes up 1.8pc over June
Top News

CPI in July goes up 1.8pc over June

ISLAMABAD: The Consumer Price Index (CPI), a key indicator of inflation rose 1.80 percent during July 2011 over June 201
Published 03 Aug, 2011 08:41am
Egypt's Mubarak in Cairo to face trial
Top News

Egypt's Mubarak in Cairo to face trial

CAIRO: Months after an uprising ended his 30-year-rule, Egypt's ex-president Hosni Mubarak goes on trial Wednesday on mu
Published 03 Aug, 2011 07:22am
July inflation feasted on food
BR Research

July inflation feasted on food

The CPI numbers released by the FBS for July-2011 showed a considerable increase. Clocking in at a year-on-year increase of 13.77 percent in
Published 03 Aug, 2011 12:00am
Zakat mired in trust deficit
BR Research

Zakat mired in trust deficit

Last Friday, the government announced a nisaab - minimum amount at which Zakat is liable to be charged - at around Rs 61,000. On the first o
Published 03 Aug, 2011 12:00am
Wall Street tumbles

Wall Street tumbles

Wall Street stocks ended down for a seventh consecutive session and the S&P 500 turned negative for the year on Tuesday. Based on the latest available data, the Dow Jones industrial average was down 265.72 points, or 2.19 percent, at 11,866.77. The Standa
Published 03 Aug, 2011 12:00am
Wall Street tumbles

Wall Street tumbles

Wall Street stocks ended down for a seventh consecutive session and the S&P 500 turned negative for the year on Tuesday. Based on the latest available data, the Dow Jones industrial average was down 265.72 points, or 2.19 percent, at 11,866.77. The Standa
Published 03 Aug, 2011 12:00am
Wall Street tumbles

Wall Street tumbles

Wall Street stocks ended down for a seventh consecutive session and the S&P 500 turned negative for the year on Tuesday. Based on the latest available data, the Dow Jones industrial average was down 265.72 points, or 2.19 percent, at 11,866.77. The Standa
Published 03 Aug, 2011 12:00am
Local machinery supply by importers liable to 16 percent ST

Local machinery supply by importers liable to 16 percent ST

The Federal Board of Revenue (FBR) has announced that the local supply of plant and machinery by commercial importers to unregistered industrial regimes or commercial regimes shall be liable to 16 percent sales tax. In this connection, the FBR issued SRO.
Published 03 Aug, 2011 12:00am
Local machinery supply by importers liable to 16 percent ST

Local machinery supply by importers liable to 16 percent ST

The Federal Board of Revenue (FBR) has announced that the local supply of plant and machinery by commercial importers to unregistered industrial regimes or commercial regimes shall be liable to 16 percent sales tax. In this connection, the FBR issued SRO.
Published 03 Aug, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 03 Aug, 2011 12:00am
Local machinery supply by importers liable to 16 percent ST

Local machinery supply by importers liable to 16 percent ST

The Federal Board of Revenue (FBR) has announced that the local supply of plant and machinery by commercial importers to unregistered industrial regimes or commercial regimes shall be liable to 16 percent sales tax. In this connection, the FBR issued SRO.
Published 03 Aug, 2011 12:00am
Tax Year 2011: FBR fails to issue final tax return forms

Tax Year 2011: FBR fails to issue final tax return forms

The Federal Board of Revenue has failed to issue the final income tax return forms for Tax Year 2011, giving no time to taxpayers to study and analyse the new returns for timely filing of the same. Tax experts told Business Recorder on Tuesday that
Published 03 Aug, 2011 12:00am
Tax Year 2011: FBR fails to issue final tax return forms

Tax Year 2011: FBR fails to issue final tax return forms

The Federal Board of Revenue has failed to issue the final income tax return forms for Tax Year 2011, giving no time to taxpayers to study and analyse the new returns for timely filing of the same. Tax experts told Business Recorder on Tuesday that
Published 03 Aug, 2011 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 03 Aug, 2011 12:00am
Tax Year 2011: FBR fails to issue final tax return forms

Tax Year 2011: FBR fails to issue final tax return forms

The Federal Board of Revenue has failed to issue the final income tax return forms for Tax Year 2011, giving no time to taxpayers to study and analyse the new returns for timely filing of the same. Tax experts told Business Recorder on Tuesday that
Published 03 Aug, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 03 Aug, 2011 12:00am
Index down 27.06 points

Index down 27.06 points

Trading on Karachi share market declined drastically on the first day of Ramazan and the daily volumes at ready counter declined to 13-month low level of 14.941 million shares. The KSE-100 index lost 27.06 points and closed at 12,226.33 points as the inve
Published 03 Aug, 2011 12:00am
Index down 27.06 points

Index down 27.06 points

Trading on Karachi share market declined drastically on the first day of Ramazan and the daily volumes at ready counter declined to 13-month low level of 14.941 million shares. The KSE-100 index lost 27.06 points and closed at 12,226.33 points as the inve
Published 03 Aug, 2011 12:00am
Index down 27.06 points

Index down 27.06 points

Trading on Karachi share market declined drastically on the first day of Ramazan and the daily volumes at ready counter declined to 13-month low level of 14.941 million shares. The KSE-100 index lost 27.06 points and closed at 12,226.33 points as the inve
Published 03 Aug, 2011 12:00am
BRIndex30 loses 26.56 points

BRIndex30 loses 26.56 points

On Tuesday, the BRIndex30 opened at 8,645.65 points. It touched the intra-day high of 8,658.29 points and low of 8,617.57 points, and closed at 8,619.09 points with a net negative change of -26.56 points, or -0.31 percent lower than previous close.
Published 03 Aug, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (August 02, 2011).

Published 03 Aug, 2011 12:00am
BRIndex30 loses 26.56 points

BRIndex30 loses 26.56 points

On Tuesday, the BRIndex30 opened at 8,645.65 points. It touched the intra-day high of 8,658.29 points and low of 8,617.57 points, and closed at 8,619.09 points with a net negative change of -26.56 points, or -0.31 percent lower than previous close.
Published 03 Aug, 2011 12:00am
LSE sheds 14.34 points

LSE sheds 14.34 points

Equities remained under pressure on the Lahore Stock Exchange on Tuesday and registered declines amid sluggish trading trend due to lack of buyers' interest. The LSE-25 index lost 14.34 points and closed at 3070.94 against 3085.28 of Monday while the volu
Published 03 Aug, 2011 12:00am
LSE sheds 14.34 points

LSE sheds 14.34 points

Equities remained under pressure on the Lahore Stock Exchange on Tuesday and registered declines amid sluggish trading trend due to lack of buyers' interest. The LSE-25 index lost 14.34 points and closed at 3070.94 against 3085.28 of Monday while the volu
Published 03 Aug, 2011 12:00am
Bears dominate ISE

Bears dominate ISE

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 09.31 points, as the Index moved from 2,765.15 to 2,755.84 points.
Published 03 Aug, 2011 12:00am
Bears dominate ISE

Bears dominate ISE

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 09.31 points, as the Index moved from 2,765.15 to 2,755.84 points.
Published 03 Aug, 2011 12:00am
LUCKY CEMENT - Analysis of Financial Statements

LUCKY CEMENT - Analysis of Financial Statements

Lucky Cement Limited, a company belonging to the Yunus Brothers Group, is the largest manufacturer and exporter of cement in Pakistan. With two production facilities in the country, one in Karachi and other in Pezu in NWFP, Lucky Cement is also Pakistan's
Published 03 Aug, 2011 12:00am
Hajj corruption scam: bail applications of Kazmi, Aftab rejected

Hajj corruption scam: bail applications of Kazmi, Aftab rejected

The Supreme Court rejected bail applications of former Religious Affairs Minister Hamid Saeed Kazmi and Aftab-ul-Islam Joint Secretary of the ministry in Hajj corruption scam on Tuesday. A two-member bench comprising Justice Jawwad S Khawaja and Justice S
Published 03 Aug, 2011 12:00am
LUCKY CEMENT - Analysis of Financial Statements

LUCKY CEMENT - Analysis of Financial Statements

Lucky Cement Limited, a company belonging to the Yunus Brothers Group, is the largest manufacturer and exporter of cement in Pakistan. With two production facilities in the country, one in Karachi and other in Pezu in NWFP, Lucky Cement is also Pakistan's
Published 03 Aug, 2011 12:00am
Hajj corruption scam: bail applications of Kazmi, Aftab rejected

Hajj corruption scam: bail applications of Kazmi, Aftab rejected

The Supreme Court rejected bail applications of former Religious Affairs Minister Hamid Saeed Kazmi and Aftab-ul-Islam Joint Secretary of the ministry in Hajj corruption scam on Tuesday. A two-member bench comprising Justice Jawwad S Khawaja and Justice S
Published 03 Aug, 2011 12:00am
THE RUPEE: minor changes

THE RUPEE: minor changes

Slight changes were seen on the currency market on Tuesday as dollar supply was enough to meet the demand, dealers said. The rupee gained five paisa in relation to the US currency for buying at 86.15 while it did not show any change for selling at 86.35,
Published 03 Aug, 2011 12:00am
India's richest man could face luxury home probe

India's richest man could face luxury home probe

India's richest man Mukesh Ambani faces a possible federal probe into the construction of his 27-storey luxury home - one of the most expensive private residences in the world. The Maharashtra state government is considering whether federal investigators
Published 03 Aug, 2011 12:00am
THE RUPEE: minor changes

THE RUPEE: minor changes

Slight changes were seen on the currency market on Tuesday as dollar supply was enough to meet the demand, dealers said. The rupee gained five paisa in relation to the US currency for buying at 86.15 while it did not show any change for selling at 86.35,
Published 03 Aug, 2011 12:00am
India's richest man could face luxury home probe

India's richest man could face luxury home probe

India's richest man Mukesh Ambani faces a possible federal probe into the construction of his 27-storey luxury home - one of the most expensive private residences in the world. The Maharashtra state government is considering whether federal investigators
Published 03 Aug, 2011 12:00am
India''s richest man could face luxury home probe

India''s richest man could face luxury home probe

India''s richest man Mukesh Ambani faces a possible federal probe into the construction of his 27-storey luxury home - one of the most expensive private residences in the world. The Maharashtra state government is considering whether federal investigators
Published 03 Aug, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (August 02, 2011).

Published 03 Aug, 2011 12:00am
Audit objections settlement: PAC asks FBR to show seriousness

Audit objections settlement: PAC asks FBR to show seriousness

The Public Accounts Committee (PAC) has warned the Federal Board of Revenue that the committee would be forced to approach Prime Minister Syed Yusuf Raza Gilani in case the tax managers continued to show lack of commitment and seriousness in settlement of
Published 03 Aug, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (August 02, 2011).

Published 03 Aug, 2011 12:00am
Audit objections settlement: PAC asks FBR to show seriousness

Audit objections settlement: PAC asks FBR to show seriousness

The Public Accounts Committee (PAC) has warned the Federal Board of Revenue that the committee would be forced to approach Prime Minister Syed Yusuf Raza Gilani in case the tax managers continued to show lack of commitment and seriousness in settlement of
Published 03 Aug, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Tuesday (August 02, 2011).

Published 03 Aug, 2011 12:00am
Audit objections settlement: PAC asks FBR to show seriousness

Audit objections settlement: PAC asks FBR to show seriousness

The Public Accounts Committee (PAC) has warned the Federal Board of Revenue that the committee would be forced to approach Prime Minister Syed Yusuf Raza Gilani in case the tax managers continued to show lack of commitment and seriousness in settlement of
Published 03 Aug, 2011 12:00am
Audit objections settlement: PAC asks FBR to show seriousness

Audit objections settlement: PAC asks FBR to show seriousness

The Public Accounts Committee (PAC) has warned the Federal Board of Revenue that the committee would be forced to approach Prime Minister Syed Yusuf Raza Gilani in case the tax managers continued to show lack of commitment and seriousness in settlement of
Published 03 Aug, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (August 02, 2011).

Published 03 Aug, 2011 12:00am
18 AJK ministers sworn in

18 AJK ministers sworn in

Eighteen ministers of Azad Jammu & Kashmir (AJK) newly elected government have taken oath of their offices here at assembly premises on Tuesday. President Raja Zulqarnain Khan administered oath to them in a ceremony attended by AJK Prime Minister, Chaudha
Published 03 Aug, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Tuesday (August 02, 2011) and for Wednesday (August 03, 2011).
Published 03 Aug, 2011 12:00am
18 AJK ministers sworn in

18 AJK ministers sworn in

Eighteen ministers of Azad Jammu & Kashmir (AJK) newly elected government have taken oath of their offices here at assembly premises on Tuesday. President Raja Zulqarnain Khan administered oath to them in a ceremony attended by AJK Prime Minister, Chaudha
Published 03 Aug, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (August 02, 2011).

Published 03 Aug, 2011 12:00am
Pakistan relying too much on China?

Pakistan relying too much on China?

Pakistan's quick response to charges by China that militants involved in attacks in Xinjiang had trained on its soil shows the importance of its ties with Beijing, but it could be a mistake for Islamabad if it relies too much on China.
Published 03 Aug, 2011 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 03 Aug, 2011 12:00am
Pakistan relying too much on China?

Pakistan relying too much on China?

Pakistan's quick response to charges by China that militants involved in attacks in Xinjiang had trained on its soil shows the importance of its ties with Beijing, but it could be a mistake for Islamabad if it relies too much on China.
Published 03 Aug, 2011 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 03 Aug, 2011 12:00am
Rs 77 billion net collection in 27 days of July

Rs 77 billion net collection in 27 days of July

The net revenue collection by the Federal Board of Revenue (FBR) during first 27 days of July 2011 stood at Rs 77 billion, against Rs 84 billion in the corresponding period of last fiscal year, reflecting a decrease of Rs 7 billion. Sources told Busine
Published 03 Aug, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (August 02, 2011).

Published 03 Aug, 2011 12:00am
Rs 77 billion net collection in 27 days of July

Rs 77 billion net collection in 27 days of July

The net revenue collection by the Federal Board of Revenue (FBR) during first 27 days of July 2011 stood at Rs 77 billion, against Rs 84 billion in the corresponding period of last fiscal year, reflecting a decrease of Rs 7 billion. Sources told Busine
Published 03 Aug, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (August 02, 2011).

Published 03 Aug, 2011 12:00am
Rs 77 billion net collection in 27 days of July

Rs 77 billion net collection in 27 days of July

The net revenue collection by the Federal Board of Revenue (FBR) during first 27 days of July 2011 stood at Rs 77 billion, against Rs 84 billion in the corresponding period of last fiscal year, reflecting a decrease of Rs 7 billion. Sources told Busine
Published 03 Aug, 2011 12:00am
The Weather

The Weather

The weather report on Tuesday (August 02, 2011) and the forecast for Wednesday (August 03, 2011).

Published 03 Aug, 2011 12:00am
US drone strike kills four militants

US drone strike kills four militants

A US drone strike targeting a vehicle in tribal belt near the Afghan border killed four militants on Tuesday, local security officials said. The missile attack, the second in two days, took place near Qutub Khel village, five kilometres (three miles) east
Published 03 Aug, 2011 12:00am
US drone strike kills four militants

US drone strike kills four militants

A US drone strike targeting a vehicle in tribal belt near the Afghan border killed four militants on Tuesday, local security officials said. The missile attack, the second in two days, took place near Qutub Khel village, five kilometres (three miles) east
Published 03 Aug, 2011 12:00am
CPI inflation soars by 13.77 percent in July

CPI inflation soars by 13.77 percent in July

The CPI inflation soared by 13.77 percent in July 2011-12 over the same period of last year on the back of increase in the prices of food items, according to Federal Bureau of Statistics (FBS). Official figures of monthly inflation of Consumer Price index
Published 03 Aug, 2011 12:00am
CPI inflation soars by 13.77 percent in July

CPI inflation soars by 13.77 percent in July

The CPI inflation soared by 13.77 percent in July 2011-12 over the same period of last year on the back of increase in the prices of food items, according to Federal Bureau of Statistics (FBS). Official figures of monthly inflation of Consumer Price index
Published 03 Aug, 2011 12:00am
CPI inflation soars by 13.77 percent in July

CPI inflation soars by 13.77 percent in July

The CPI inflation soared by 13.77 percent in July 2011-12 over the same period of last year on the back of increase in the prices of food items, according to Federal Bureau of Statistics (FBS). Official figures of monthly inflation of Consumer Price index
Published 03 Aug, 2011 12:00am
Eight more gunned down in Karachi

Eight more gunned down in Karachi

There was no let-up in targeted killings as eight more persons including two activists of Pakistan Peoples Party (PPP) were shot dead in various parts of the city, on Tuesday. According to police, Waqar and Naeem were shot dead while Adnan, Waqas and Fais
Published 03 Aug, 2011 12:00am
Punjab Assembly session: requisition filed

Punjab Assembly session: requisition filed

Punjab opposition legislator Shaukat Basra has filed requisition for summoning of Punjab Assembly session with Punjab Assembly Secretariat recently. Punjab Assembly shortly has seen four sessions held on the requisition of the opposition legislators.
Published 03 Aug, 2011 12:00am
Rehman Bridge inaugurated

Rehman Bridge inaugurated

Punjab Deputy Speaker, Rana Mushood Ahmed Khan on Tuesday inaugurated Rehhman Bridge in Gulshan-e-Ravi He asked people to be united against all conspiracies. He impressed upon the rulers to improve law & order in the country, particularly in Karachi that
Published 03 Aug, 2011 12:00am
Smeda to provide business appraisal skill to BoK officials

Smeda to provide business appraisal skill to BoK officials

Small and Medium Enterprises Development Authority (Smeda) will provide business appraisal training to the officials of the Bank of Khyber on Pakhtunkhwa Hunermand Rozgar Scheme of the provincial government. This was stated by Provincial Chief, Smeda, Khy
Published 03 Aug, 2011 12:00am
GCU begins first year admissions from today

GCU begins first year admissions from today

Government College University Lahore is going to open its intermediate (first year) admissions from August 3, 2011 (today) which will remain open till August 10, 2011 (Wednesday). GCU Registrar Professor Anjum Nisar said that no admission form will be ent
Published 03 Aug, 2011 12:00am
Taliban kill two soldiers in tribal area

Taliban kill two soldiers in tribal area

A group of Taliban fighters Tuesday gunned down two soldiers in the tribal area along the Afghan border, security officials said. The militants used machine guns to attack a roadside military post near Ladha town in South Waziristan district before escapi
Published 03 Aug, 2011 12:00am
Recovery of minor girl: LHC reserves its verdict

Recovery of minor girl: LHC reserves its verdict

The Lahore High Court reserved its verdict in a petition filed for the recovery of a minor girl Kanize. The court observed if any child of a policeman kidnapped or found missing then all police department would make full effort to recover the child.
Published 03 Aug, 2011 12:00am
CDA (Amendment) Bill introduced in National Assembly

CDA (Amendment) Bill introduced in National Assembly

The Capital Development Authority (Amendment) Bill, 2011 was introduced in National Assembly on Tuesday. PML-N lawmaker Parveen Masood Bhatti moved the bill to further amend the Capital Development Authority Ordinance, 1960 [The Capital Development Author
Published 03 Aug, 2011 12:00am
Yamaha to set up $150 million worth manufacturing plant

Yamaha to set up $150 million worth manufacturing plant

Yamaha a Japanese auto company would invest US $150 million to establish the manufacturing plant of motorcycles in Pakistan. This was revealed in a meeting by a visiting three-member delegation of Yamaha comprising Sumioka Ryouichi, Executive Officer, ITO
Published 03 Aug, 2011 12:00am
Allama Salman Turabi to explain Tafseer of Surah Al-Alaq

Allama Salman Turabi to explain Tafseer of Surah Al-Alaq

The President of Allama Rasheed Turabi Foundation and Trust and prominent religious scholar Allama Dr Salman Turabi will explain the meanings and interpretation (Tafseer) of Surah Al-Alaq (96th Chapter of the Holy Quran) during the special speeches in con
Published 03 Aug, 2011 12:00am
Eight bureaucrats promoted

Eight bureaucrats promoted

The Central Selection Board (CSB) on Tuesday approved the promotions of eight bureaucrats of police, accounts and secretariat groups to grade 21. Establishment Division has issued notification in this respect. The police group officers include Aftab Sulta
Published 03 Aug, 2011 12:00am
Three truck drivers abducted in Bakhtiarabad

Three truck drivers abducted in Bakhtiarabad

At least three truck drivers were kidnapped from National Highway near Bakhtiarabad on Tuesday. According to the police, the three trucks were on way when unknown armed men intercepted them and took away three drivers to unknown destination on gunpoint.
Published 03 Aug, 2011 12:00am
Two killed in gas cylinder blast

Two killed in gas cylinder blast

At least two people have lost their life in a gas-cylinder explosion in Panugr town on Tuesday. "A gas-cylinder placed in a shop in local bazaar exploded," Pangur police sources told newsmen adding that as a result, two person sustained serious wounds.
Published 03 Aug, 2011 12:00am
Over 50 arrested in LEA search operation

Over 50 arrested in LEA search operation

Over 50 suspected persons have been taken into custody during a search operation carried out on outskirts of the provincial capital on Tuesday. "Joint teams of law enforcement agencies headed by senior officials launched search operation in various suburb
Published 03 Aug, 2011 12:00am
Dr Bucha elected FAP president

Dr Bucha elected FAP president

Farmers Association of Pakistan (FAP) executive council unanimously elected Dr Tariq Bucha as its president in its meeting held on Tuesday under the chairmanship of Hussain Jahania Gardezi. Dr Bucha during the last 3 years played an important role in stre
Published 03 Aug, 2011 12:00am
Diplomats movement: Pakistan and US try to narrow differences

Diplomats movement: Pakistan and US try to narrow differences

The United States and Pakistan were working to smooth over curbs on diplomats' travels in the country on Tuesday, officials from both sides said, as US, Pakistani and Afghan officials met to co-ordinate efforts to end violence in Afghanistan.
Published 03 Aug, 2011 12:00am
Azeem Khan of PC Rawalpindi adjudged 'best chef of the year'

Azeem Khan of PC Rawalpindi adjudged 'best chef of the year'

Chef Azeem Khan of the Pearl Continental Hotel Rawalpindi has been adjudged as the "Best Chef of the year 2011", a great success for the entire Hashoo Group hotels, as 850 top chefs across the country participated in the competition. Top 6 were picked up
Published 03 Aug, 2011 12:00am
LHC moved against increase in power tariff

LHC moved against increase in power tariff

A member Lahore High Court Bar Association here on Tuesday has approached the Lahore High Court against recent increase in electricity tariff and prayed to the court to declare the same as illegal. The petitioner Rana Alimdin contended that respondent gov
Published 03 Aug, 2011 12:00am
PPP government is about to collapse any time: Pervez Rashid

PPP government is about to collapse any time: Pervez Rashid

Pakistan Muslim League-N (PML-N) has decided to play a more active role inside and outside the parliament so as to build pressure on the incompetent and corrupt rulers and to stop them from taking anti-people steps. A spokesman of Pakistan Muslim League-N
Published 03 Aug, 2011 12:00am
Karachi bleeds again

Karachi bleeds again

The death toll has risen to 200 plus in less than a month in Karachi. A recent report by the Human Rights Commission of Pakistan (HRCP) reveals that 1,138 people were killed in Karachi in the first six months of 2011, of whom 490 were victims of political
Published 03 Aug, 2011 12:00am
Moon sighting problem

Moon sighting problem

Once again, people in parts of Khyber Pakhtunkhwa started the month of Ramazan a day before the rest of the country. Mufti Shahabuddin Popalzai of the famous Qasim Ali Khan Mosque in Peshawar announced on Sunday that six witnesses had reported seeing the
Published 03 Aug, 2011 12:00am
IRO 2011

IRO 2011

On July 18, 2011, the Ministry of Law and Parliamentary Affairs promulgated the Industrial Relations Ordinance, 2011. This Law in terms of Section 1 (2) extends to the whole of Pakistan and in terms of Section 1 (3) it shall apply to all persons employed
Published 03 Aug, 2011 12:00am
Fasting, feasting as Ramazan begins under famine's shadow

Fasting, feasting as Ramazan begins under famine's shadow

The Muslim call to prayer and dust stirred up by rumbling food trucks both settle over Garissa in north-eastern Kenya, as hundreds of the city's long-settled Somali population flock to the main mosque. The holy month of Ramazan has begun, and there is muc
Published 03 Aug, 2011 12:00am
Pressure mounts on Russia over Syria unrest

Pressure mounts on Russia over Syria unrest

The shelling of the Syrian opposition stronghold of Hama by government artillery and tanks has once again turned the eyes of the world towards Russia. The pressure on Moscow comes not merely because Russian-built T-72 tanks were used against demonstrators
Published 03 Aug, 2011 12:00am
Celebrating provincial autonomy

Celebrating provincial autonomy

July 1, declared as the day of provincial autonomy to mark the completion of the devolution process, failed to elicit the kind of public and media attention as it rightfully deserved, given its far-reaching impact on the direction of our state and society
Published 03 Aug, 2011 12:00am
Russian minister calls for limits on the Internet

Russian minister calls for limits on the Internet

Russia's interior minister called on Tuesday for limits on the Internet to prevent a slide in traditional cultural values among young people, raising fears of controls over the vibrant Russian-language web. Many of Russia's 53 million web users fear that
Published 03 Aug, 2011 12:00am
Uzbekistan 'halts mobile Internet, SMS' for exam day

Uzbekistan 'halts mobile Internet, SMS' for exam day

Mobile operators in Uzbekistan suspended Internet and messaging services for the duration of nation-wide university entrance exams Tuesday in an apparent bid to prevent cheating, a report said. Five national mobile operators shut down mobile Internet and
Published 03 Aug, 2011 12:00am
Nato asks more troops for Kosovo

Nato asks more troops for Kosovo

Nato said Tuesday it asked for more troop in Kosovo days after a trade row with Serbia sparked deadly violence, an apparent signal that it will not allow the situation to deteriorate. Nato spokesman Hans Dieter Wichter told AFP that the KFOR mission in th
Published 03 Aug, 2011 12:00am
India's opposition corners government over inflation

India's opposition corners government over inflation

India's opposition parties stalled the country's parliament repeatedly Tuesday, forcing the government into agreeing to a debate on inflation, news reports said. The Congress-party led government has faced growing criticism over its handling of inflation,
Published 03 Aug, 2011 12:00am
Malik assures stern action against miscreants

Malik assures stern action against miscreants

Interior Minister Rehman Malik has said the government is fully determined to take stern action against miscreants and outlaws who want to destabilise the country. "Everything has a limit, enough is enough, we are going to take extra-ordinary measures to
Published 03 Aug, 2011 12:00am
Citi Pakistan honoured by Global Finance

Citi Pakistan honoured by Global Finance

Citi Pakistan today announced that it has won 'Best Corporate/ Institutional Internet Bank Award' by Global Finance for 2011. Winners were chosen among entries evaluated by a world-class panel of judges at Infosys. Global Finance editors were responsible
Published 03 Aug, 2011 12:00am
Bid to smuggle POL products foiled

Bid to smuggle POL products foiled

Anti-smuggling organisation, Model Custom Collectorate Multan has foiled an attempt to smuggle POL products into Multan via Bunnu and seized 718kgs of grease and mobile oil worth Rs 1.4 million from a truck No 3119 -Dera Ismail Khan-E. An official press n
Published 03 Aug, 2011 12:00am
TCP as alternative buyer KCA expresses serious concerns

TCP as alternative buyer KCA expresses serious concerns

Karachi Cotton Association has expressed its serious concern on the reports that government is considering to inducting the TCP as alternative buyer in the market to stabilise the cotton prices. The KCA is of the view that any intervention by the public s
Published 03 Aug, 2011 12:00am
Industrialists seek permanent solution to power issues

Industrialists seek permanent solution to power issues

Industrialists on Tuesday sought a permanent solution to power outages with demand for a larger share in the decision marking process regarding electricity issues of the city. They also urged the government to form a body to solve the issues of Karachi El
Published 03 Aug, 2011 12:00am
Geelani calls for shutdown today

Geelani calls for shutdown today

Veteran Kashmiri Hurriyet leader in occupied Kashmir Syed Ali Geelani has called for a complete shutdown on Wednesday (today) to protest against the custodial killing of a Kashmiri youth, Nazim Rashid, in Sopore by Indian police.
Published 03 Aug, 2011 12:00am
'Fasting most effective method for lowering blood pressure'

'Fasting most effective method for lowering blood pressure'

Fasting is the most effective method for lowering blood pressure and normalising cardiovascular function besides it is also beneficial for making respiratory, digestive systems of human being perfect. Health experts said that fasting is exceptionally bene
Published 03 Aug, 2011 12:00am
Textile industry denied electric supply throughout Tuesday

Textile industry denied electric supply throughout Tuesday

No electricity was supplied to Textile industry throughout Tuesday by the Pakistan Electric Power Company (Pepco) Discos after a dearth in power supply owing to both technical and financial reasons. The industry sources told that the Pepco announcement of
Published 03 Aug, 2011 12:00am
Role of doctors, police during emergencies termed crucial

Role of doctors, police during emergencies termed crucial

Capital City Police Officer, Ahmad Raza Tahir Tuesday visited Allama Iqbal Medical College and met its principal and all members of academic staff. Speaking on the occasion, the CCPO said the role of doctors and police in any emergency situation and disas
Published 03 Aug, 2011 12:00am
Trade with India be initiated progressively: PAAPAM

Trade with India be initiated progressively: PAAPAM

Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) has urged the government to progressively open overall trade with India after experiencing the progress at each mile stone.
Published 03 Aug, 2011 12:00am
BISE announces matric exams results

BISE announces matric exams results

Fifty eight point seventy two (58.72) percent students passed the Matriculation exams 2011 of Board Of Intermediate and Secondary Education (BISE) Lahore, according to the result announced on Tuesday. A medal awarding ceremony in honour of position holder
Published 03 Aug, 2011 12:00am
Karachi situation: Jamaat-e-Islami will soon call national conference

Karachi situation: Jamaat-e-Islami will soon call national conference

The Jamaat-e-Islami will soon convene a national conference on the Karachi situation to build pressure on the government for restoring peace in the port city, JI Secretary General, Liaquat Baloch, said here on Tuesday. He said, the Karachi situation was a
Published 03 Aug, 2011 12:00am
Most parts of country in grip of hot weather

Most parts of country in grip of hot weather

Most parts of the country, especially plains of Punjab, Sindh and Balochistan remained under the grip of severe hot and humid weather for the third consecutive day as mercury rose to above 40 degree Celsius in these areas. Met office said, here on Tuesday
Published 03 Aug, 2011 12:00am
PHDEC urges US to allow shipment of mango consignments through sea

PHDEC urges US to allow shipment of mango consignments through sea

Pakistan Horticulture Development and Export Company (PHDEC) has urged the United States to allow shipment of commercial mango consignments through sea from Pakistan to America to make the process profitable for the Pakistani exporters.
Published 03 Aug, 2011 12:00am
Fresh criticises schools discouraging admissions to students with LDs

Fresh criticises schools discouraging admissions to students with LDs

Secretary General Foundation for Rehabilitation and Education of Special Children (Fresh) Ashba Kamran has criticised mainstream schools either discouraging admissions to students with learning disabilities (LD) or having a policy against giving admission
Published 03 Aug, 2011 12:00am
Punjab government to organise 'Health festivals' at district levels

Punjab government to organise 'Health festivals' at district levels

The Punjab government has decided to organise health festivals at district levels in a bid to promote health education and motivate the people to take benefit from government's offer of free treatment and other facilities. Sources in the Health Department
Published 03 Aug, 2011 12:00am
Punjab University earns better position in HEC ranking

Punjab University earns better position in HEC ranking

Punjab University has earned an enviable position in the HEC ranking narrowing down from No 6 to 4 in the year 2009 for its research and higher education of quality which remained unprecedented and unmatched in the 129 years history of the premier institu
Published 03 Aug, 2011 12:00am
Cops on security duties: special teams to check performance

Cops on security duties: special teams to check performance

To ensure foolproof security arrangements during the holy month of Ramazan, Islamabad Police have introduced a unique and innovative way to depute police personnel to check the cops performing security duty at worship places or doing patrolling duties in
Published 03 Aug, 2011 12:00am
USAID signs MoU with Hashoo Foundation

USAID signs MoU with Hashoo Foundation

The United States Agency for International Development (USAID) has signed a Memorandum of Understanding (MoU) under its ENTREPRENEURS project with Hashoo Foundation to roll out Value Chain intervention in the Dairy sector in District Bahawalpur, says a pr
Published 03 Aug, 2011 12:00am
Sindh likely to notify SRB as full-fledged department

Sindh likely to notify SRB as full-fledged department

Sindh government may likely to notify Sindh Revenue Board (SRB) as full-fledged department of provincial government within next couple of days. Official sources told Business Recorder on Tuesday that this decision was taken during a high level meet
Published 03 Aug, 2011 12:00am
KSE announces names of four open-end funds

KSE announces names of four open-end funds

Karachi Stock Exchange (KSE) on Tuesday announced the names of four open-end funds acceptable as collateral against margin requirements. In a notice sent to all members the KSE said that the following four open-end funds would be eligible as collateral ag
Published 03 Aug, 2011 12:00am
IoBM's creative arts exhibited at Expo Centre

IoBM's creative arts exhibited at Expo Centre

After a heart-warming success of IoBM students creative arts and business plans at the KCCI exhibition at Expo Centre recently, the same exposition was staged at their CBM College for a rousing applause of hundreds of IoBM students, faculty, management an
Published 03 Aug, 2011 12:00am
Seeking expenditure details in IT return: FBR rejects proposal

Seeking expenditure details in IT return: FBR rejects proposal

The Federal Board of Revenue (FBR) has out rightly rejected a proposal of a Member of the Board, seeking details of personal expenditure regarding Association of Persons (AOPs) and individuals through amendments in the existing income tax return form. Sou
Published 03 Aug, 2011 12:00am
Girls outshine boys in SSC exams of Multan Board

Girls outshine boys in SSC exams of Multan Board

Board of Intermediate & Secondary Education has announced the result of Secondary School Certificate (SSC 2011) on Tuesday. Professor Muhammad Akbar, Controller of examination briefed the newsmen that total 1,12,964 candidates applied, of them 1,10,325 ca
Published 03 Aug, 2011 12:00am
Sindh Bank launches ATM service

Sindh Bank launches ATM service

As a further step towards modernisation of its banking operations and facilitating its customers through superior banking services by business oriented IT solutions, Sindh Bank Limited has launched its ATM services by joining hands with Avanza Solutions.
Published 03 Aug, 2011 12:00am
Farzana lauds Pakistan Post's role in BISP success

Farzana lauds Pakistan Post's role in BISP success

Timely disbursement of financial assistance among the Benazir Income Support Programme (BISP) beneficiary families was a crucial task which Pakistan Post accomplished with complete responsibility, said Farzana Raja, Chairperson BISP here on Tuesday.
Published 03 Aug, 2011 12:00am
Pasdec, Unido to launch training in marble mosaic

Pasdec, Unido to launch training in marble mosaic

The Pakistan Stone Development Company (Pasdec), in collaboration with United Nation Industrial Development Organisation (Unido) is launching a series of marble mosaic and inlays gender training session to promote women skill development and entrepreneurs
Published 03 Aug, 2011 12:00am
'Peace restored in most of FATA areas'

'Peace restored in most of FATA areas'

Governor Khyber Pakhtunkhwa, Barrister Masood Kausar has said peace has been restored in majority areas of the Federally Administered Tribal Areas (FATA). He was addressing an awards and prize distribution ceremony for Secondary School Certificate (SSC) a
Published 03 Aug, 2011 12:00am
Pakistan's cycle of disasters creates a generational impact

Pakistan's cycle of disasters creates a generational impact

One year on from the worst ever floods hit Pakistan, international aid agency World Vision calls for relief efforts to be ramped up for at least another year just to get families back to their pre-flood level of living. World Vision in Pakistan is committ
Published 03 Aug, 2011 12:00am
Unemployment on the rise in country

Unemployment on the rise in country

The unemployment rate has jumped to 6 percent in the country during 2010-11 from 5.6 percent in 2009-10 with joblessness in urban areas mounting to 8.8 percent, according to statistics of labour survey conducted by the Federal Bureau of Statistics.
Published 03 Aug, 2011 12:00am
UK's DFID to extend Rs 40 billion for education in Khyber Pakhtunkhwa

UK's DFID to extend Rs 40 billion for education in Khyber Pakhtunkhwa

The UK Department for International Development (DFID) will extend Rs 40 billion for education sector in Khyber-Pakhtunkhwa (KPK) province. The matter was discussed during a meeting of DFID delegation with Khyber-Pakhtunkhwa, Minister for Elementary & Sec
Published 03 Aug, 2011 12:00am
Etihad introduces fifth weekly flight to Khartoum

Etihad introduces fifth weekly flight to Khartoum

Etihad Airways has celebrated both its fifth anniversary of non-stop services between Abu Dhabi and Khartoum and the introduction of its fifth weekly flight on the route. The airline commenced operations to the capital of Sudan in July 2006, and since the
Published 03 Aug, 2011 12:00am
Auto Industry: promotion of trade with India opposed

Auto Industry: promotion of trade with India opposed

Mian Iqbal Hassan Convenor, Enginee-ring/Environmental committees (Multan Chamber of Commerce & Industry) has opposed the promotion of trade with India and declaring it most favourite nation describing it detrimental to Pakistan's industry and economy. Ta
Published 03 Aug, 2011 12:00am
US MIDDAY: gold jumps to all-time high

US MIDDAY: gold jumps to all-time high

Gold surged more than 1 percent to all-time highs on Tuesday, as more weak US economic data fuelled safe-haven buying on fears a slow economy may trigger more monetary stimulus by the Federal Reserve. Bullion appeared headed for its biggest daily gain in
Published 03 Aug, 2011 12:00am
US MIDDAY: copper rebounds

US MIDDAY: copper rebounds

The key September COMEX contract shed 1.50 cents to settle at $4.3950 per lb early on Tuesday, after dealing between $4.3730 and $4.4250. Selling momentum gathered pace early in the day after data showed US consumer spending unexpectedly fell in June to p
Published 03 Aug, 2011 12:00am
US MIDDAY: soya lower

US MIDDAY: soya lower

Soyabean futures on the Chicago Board of Trade fell to session lows on Tuesday as traders sold soyabeans and bought corn on inter-market spreads, brokers said. The positions were based on ideas that rains forecast for the US Midwest late this week would h
Published 03 Aug, 2011 12:00am
US MIDDAY: corn rises

US MIDDAY: corn rises

CBOT December corn futures rose 21 cents to $7.06-3/4 a bushel to mark the session high at midday Tuesday on concerns about harm to the US crop from hot weather and on prospects for declining corn yields, traders said.
Published 03 Aug, 2011 12:00am
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