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Archive - 2011-09-15
UN marks International Day of Peace
Top News

UN marks International Day of Peace

UNITED NATIONS: The United Nations on Thursday marked the annual International Day of Peace with tribute to those workin
Published 15 Sep, 2011 05:01pm
ISE-10 witnesses bullish trend
Markets

ISE-10 witnesses bullish trend

ISLAMABAD : The Islamabad Stock Exchange (ISE-10) here on Thursday witnessed bullish trend, the index gained 6.37 to clo
Published 15 Sep, 2011 04:09pm
IEA ends strategic oil reserves release
Top News

IEA ends strategic oil reserves release

PARIS: The International Energy Agency said on Thursday that it had ended its release of oil from strategic reserves beg
Published 15 Sep, 2011 03:34pm
OGDCL registers increase in net sales
Top News

OGDCL registers increase in net sales

ISLAMABAD: The Oil and Gas Development Company Limited's (OGDCL) net sales increased to Rs155.631 billion during the yea
Published 15 Sep, 2011 01:23pm
US 'out of line' on terror remarks: FO
Top News

US 'out of line' on terror remarks: FO

ISLAMABAD: Pakistan Foreign Office Thursday said a warning by US Defense Secretary Leon Panetta that the United States
Published 15 Sep, 2011 01:23pm
Foreign exchange reserves ease
Top News

Foreign exchange reserves ease

KARACHI : The foreign exchange reserves of the country have dwindled down by 270 million dollar 17.79 billion dollar, a
Published 15 Sep, 2011 01:08pm
Rice export surges 8.13 percent
Top News

Rice export surges 8.13 percent

ISLAMABAD: Basmati rice exports from the country surged by 8.13 percent during July-April 2010-11 to reach at US$78 mill
Published 15 Sep, 2011 12:04pm
FTA, ROZs with USA
Top News

FTA, ROZs with USA

KARACHI : A high powered delegation from United States Trade Representatives (USTR) will be visiting Pakistan in the t
Published 15 Sep, 2011 10:17am
SECP imposes Rs5mn penalty
Markets

SECP imposes Rs5mn penalty

ISLAMABAD: As a part of stringent surveillance practices to cut abusive market practices, the SECP issued three orders t
Published 15 Sep, 2011 07:29am
Oil extends losses in Asian trade
Top News

Oil extends losses in Asian trade

SINGAPORE: Oil extended losses in Asian trade Thursday on data showing weak energy demand in the United States, the worl
Published 15 Sep, 2011 05:21am
Latvia braces for snap election
Europe

Latvia braces for snap election

RIGA: Latvia holds a snap general election Saturday sparked by an unprecedented referendum, a vote that could make a pro
Published 15 Sep, 2011 05:04am
Philippine unemployment remains high
Top News

Philippine unemployment remains high

MANILA: Unemployment in the Philippines remained high in July as the economy struggles amid the global financial turmoil
Published 15 Sep, 2011 04:25am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 15 Sep, 2011 12:00am
Indian firms eye huge mining investment in Afghanistan

Indian firms eye huge mining investment in Afghanistan

Despite increasing insecurity in Afghanistan and gun battles with Taliban rebels in the capital Kabul, Indian firms are bidding billions of dollars for a contract to mine iron ore in a central district of the country. A consortium led by state-run Steel A
Published 15 Sep, 2011 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 15 Sep, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 15 Sep, 2011 12:00am
Obama's latest recovery plan

Obama's latest recovery plan

US government continues to rely on traditional measures to revive the economy and create jobs. In his latest effort to improve his approval rating which has sunk to a low of 44 percent, President Barack Obama has unveiled a $447 billion package to deal wi
Published 15 Sep, 2011 12:00am
Merciless child killers

Merciless child killers

Tehrik-i-Taliban Pakistan (TTP) has never been a national hero in Pakistan, but some years back when it emerged as an umbrella outfit espousing the cause of a wide variety of religious extremists it did enjoy sympathetic support of some sections of the Pa
Published 15 Sep, 2011 12:00am
VIEW POINT: Ten years on

VIEW POINT: Ten years on

They were all there, US' present and past leaders including President Obama, the former self-proclaimed 'war president' George W. Bush, former president Bill Clinton, and former New York mayor Rudy Giuliani, at an elaborate ceremony to mark the tenth anni
Published 15 Sep, 2011 12:00am
Injustices of a criminal justice system

Injustices of a criminal justice system

Social injustice includes unfair or unjust acts like denial of civil rights, age and sex discrimination, police brutality, and maladministration. One can find so many people around who do have firsthand experience of unfair treatment. These guys do need o
Published 15 Sep, 2011 12:00am
Bunker reveals underworld of East German secret service

Bunker reveals underworld of East German secret service

The grey-brown family home located near the ponds near the town of Machern in the eastern German state of Saxony has a picturesque setting. Tall old oaks and birches surround the low building. The grass has run wild. "This was the home of the bunker's com
Published 15 Sep, 2011 12:00am
Incomplete truth

Incomplete truth

Dr Mirza's press conference on August 28, 2011 at the Karachi Press Club was sensational. He not only announced resigning from the membership of the Sindh Assembly, but also declared quitting the position he has been holding in the party.
Published 15 Sep, 2011 12:00am
Special courts to function under one roof from March next

Special courts to function under one roof from March next

A number of special courts including Anti Terrorists Courts for the Federal Capital territory will start functioning under one roof from March next year. Secretary Ministry of Law and Justice Muhammad Masood Chishti told APP that efforts were afoot to bri
Published 15 Sep, 2011 12:00am
UET announces entry test results

UET announces entry test results

University of Engineering & Technology, (UET) Lahore Convenor Admission Committee, Professor Dr Muhammad Ali Maud announced the Entry Test-2011 result for admission and uploaded the result on its website www.uet.edu.pk. The last date of submission of admi
Published 15 Sep, 2011 12:00am
THE RUPEE: dollar mostly up

THE RUPEE: dollar mostly up

Downward trend was seen on currency market on Tuesday as the rupee shed modestly versus dollar, dealers said. The rupee inched up with a rise one paisa versus dollar for buying at 87.50 while it shed the same amount for selling at 87.54, they said.
Published 15 Sep, 2011 12:00am
Senators contribute over Rs 13 million donations for flood victims

Senators contribute over Rs 13 million donations for flood victims

In a rare show of unity in the parliamentary history of Pakistan, the senators have so far contributed Rs 1,32,75000 donations for flood victims in Sindh, which left millions homeless and damaged standing crops, bringing life of the poverty-stricken peopl
Published 15 Sep, 2011 12:00am
THE RUPEE: dollar mostly up

THE RUPEE: dollar mostly up

Downward trend was seen on currency market on Tuesday as the rupee shed modestly versus dollar, dealers said. The rupee inched up with a rise one paisa versus dollar for buying at 87.50 while it shed the same amount for selling at 87.54, they said.
Published 15 Sep, 2011 12:00am
Gunmen kill two security officials in Bannu

Gunmen kill two security officials in Bannu

At least six gunmen ambushed a military vehicle on patrol in Bannu on Wednesday, killing two security officials and wounding two others, police said. The attackers, believed to be pro-Taliban militants, opened fire on the army pickup from both sides of th
Published 15 Sep, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (September 14, 2011).

Published 15 Sep, 2011 12:00am
SECP imposes Rs five million penalty

SECP imposes Rs five million penalty

The Security Exchange Commission of Pakistan (SECP) has imposed the penalty worth Rs 5 million for front running and insider trading. According to a statement released by SECP, as a part of stringent surveillance practices to cut abusive market practices,
Published 15 Sep, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (September 14, 2011).

Published 15 Sep, 2011 12:00am
Man kills wife

Man kills wife

A man killed his wife in Quaid Azam Colony within the limits of Mobina Town police station. The incident took place in early hours of Wednesday, where the accused Habibullah killed his wife, Adeela, 32, with hammer over domestic issue.
Published 15 Sep, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednesday (September 14, 2011).

Published 15 Sep, 2011 12:00am
Flood-hit people: mobile health unit for Sindh government

Flood-hit people: mobile health unit for Sindh government

In response to the instructions of Punjab Chief Minister Shahbaz Sharif to provide health facilities to the flood affected people of Sindh, mobile health unit has been handed over to the Punjab Health Department.
Published 15 Sep, 2011 12:00am
Schools', colleges' administrations asked to ensure anti-dengue spray

Schools', colleges' administrations asked to ensure anti-dengue spray

Punjab Chief Minister Shahbaz Sharif has asked the administrations of schools and colleges in Lahore to ensure completion of the process of spray during the closure of the educational institutions and they would be bound to submit a formal certificate reg
Published 15 Sep, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (September 14, 2011).

Published 15 Sep, 2011 12:00am
Punjab Assembly voices concern over dengue fever victims

Punjab Assembly voices concern over dengue fever victims

Punjab Assembly in its 30th session here Wednesday showed its special concern for dengue fever victims praying for them on the occasion. The legislators in their debate on the spread of fever demanded of the provincial government to pay its full attention
Published 15 Sep, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (September 14, 2011) and for Thursday (September 15, 2011).
Published 15 Sep, 2011 12:00am
PBTIF delegation to visit Punjab today

PBTIF delegation to visit Punjab today

A delegation from Pakistan British Trade and Investment Forum (PBTIF) is visiting Punjab on September 15. The delegation comprises some top of the line business executives belonging to various lead organisations such as vale, Ernst & Young, Bestway Cement
Published 15 Sep, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (September 14, 2011).

Published 15 Sep, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 15 Sep, 2011 12:00am
NIB Bank raises Rs 8.6 billion through Rights Issue

NIB Bank raises Rs 8.6 billion through Rights Issue

NIB Bank Limited (NIB) announced on Wednesday that it has successfully completed a Rs 8.6 billion Rights Share Issue. After completion of the Rights Issue NIB's Capital Adequacy Ratio has reached 15.38 percent against a State Bank of Pakistan requirement
Published 15 Sep, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 15 Sep, 2011 12:00am
NIB Bank raises Rs 8.6 billion through Rights Issue

NIB Bank raises Rs 8.6 billion through Rights Issue

NIB Bank Limited (NIB) announced on Wednesday that it has successfully completed a Rs 8.6 billion Rights Share Issue. After completion of the Rights Issue NIB's Capital Adequacy Ratio has reached 15.38 percent against a State Bank of Pakistan requirement
Published 15 Sep, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (September 14, 2011).

Published 15 Sep, 2011 12:00am
Lotte PPTA supports KUFF

Lotte PPTA supports KUFF

Lotte Pakistan PTA (Lotte PPTA), one of South Korea's largest conglomerates operating in Pakistan, has partnered with Karachi United Football Club to support the activities of Karachi United Football Foundation (KUFF). As an initiative to promote sports a
Published 15 Sep, 2011 12:00am
AJK President calls on CJCSC

AJK President calls on CJCSC

Newly elected President of Azad Jammu and Kashmir (AJ&K) Sardar Muhammad Yaqoob Khan called on General Khalid Shameem Wynne, Chairman Joint Chiefs of Staff Committee (CJCSC) at Joint Staff Headquarters, Chaklala on Wednesday. The President of AJ&K remaine
Published 15 Sep, 2011 12:00am
Six more dengue fever cases: reported in Karachi

Six more dengue fever cases: reported in Karachi

With reporting of six new cases in Karachi, the number of confirmed dengue patients in the province jumped to 220 in the ongoing year, raising fear among people of the epidemic. In-charge of Sindh Health Department's Dengue Surveillance Cell Dr M Shakeel
Published 15 Sep, 2011 12:00am
Intel, Google aim at accelerating smartphones business

Intel, Google aim at accelerating smartphones business

Intel Corporation on Wednesday announced a new effort with Google that aims at accelerating Intel's business in smartphones. The company also revealed that Intel's engineers are working on a new class of platform power management for ultrabooks that will
Published 15 Sep, 2011 12:00am
FBR urged to develop simpler ST return form

FBR urged to develop simpler ST return form

A former chairman of Pakistan Pharmaceutical Manufacturers Association (PPMA), Dr Mushtaq Noorwala, has urged the chairman of the Federal Board of Revenue (FBR) to extend the date of filing sales tax return till such time as consensus is built and the new
Published 15 Sep, 2011 12:00am
British Chevening Scholarships awarded to three Pakistanis

British Chevening Scholarships awarded to three Pakistanis

The British Chevening scholarships were awarded to three Pakistani candidates from the Sindh and Balochistan region in a ceremony held at the British Deputy High Commission Karachi on Wednesday. According to a press release Francis Campbell, the British D
Published 15 Sep, 2011 12:00am
Permissible currency export: SBP again revises timings

Permissible currency export: SBP again revises timings

The State Bank of Pakistan revised on Wednesday the timings for export of permissible foreign currencies to 15 hours from 8 hours with effect from September 19, 2011. A week earlier, it was announced by SBP that timings for currency export had been reduce
Published 15 Sep, 2011 12:00am
TV channels, Press entertain self-made alliances: KCCI

TV channels, Press entertain self-made alliances: KCCI

In a hand out to the press and media, Karachi Chamber of Commerce and Industry (KCCI) has expressed its concerns that all TV Channels and Press has started entertaining bogus, self-made Alliances/ Forums/Ittehads/Action Committees etc, who release their w
Published 15 Sep, 2011 12:00am
FC sets up five check-posts in Orangi Town

FC sets up five check-posts in Orangi Town

In a move to maintain peace in the city's most volatile area Orangi Town, the Frontier Constabulary (FC) on Wednesday established its five check-posts. According to official sources, these check-posts were established at several parts of Orangi Town inclu
Published 15 Sep, 2011 12:00am
India's inflation at 13-month peak

India's inflation at 13-month peak

India's inflation quickened to a 13-month peak of nearly 10 percent in August, data showed Wednesday, piling pressure on the central bank to hike interest rates again despite a slowing economy. Annual inflation jumped by over half a percentage point to 9.
Published 15 Sep, 2011 12:00am
Belarus rouble falls 38 percent in first free trade

Belarus rouble falls 38 percent in first free trade

The Belarussian rouble slumped to 8,600 roubles against the dollar at the first-ever free-trade session aimed at bringing it closer to a full free float while easing the current account deficit. This is 38 percent weaker than the official rate of 5,347 ro
Published 15 Sep, 2011 12:00am
Canada denounces Obama 'buy American' proposal

Canada denounces Obama 'buy American' proposal

Canada said Wednesday it would raise objections to US President Barack Obama's jobs plan, contending the "buy American" provision could go against free trade principles as well as bilateral agreements. "In this fragile economic recovery, we know history h
Published 15 Sep, 2011 12:00am
Asia's corporate sentiment slides

Asia's corporate sentiment slides

Sentiment at Asia's top companies fell in the third quarter, hitting its lowest level since the fourth quarter of 2009 as doubts about the strength of the global economy weighed, a Reuters survey showed. Weak US economic data, a debt crisis in the eurozon
Published 15 Sep, 2011 12:00am
Britain to sue ECB over clearing location rule

Britain to sue ECB over clearing location rule

Britain plans to sue the European Central Bank over a new rule that will force clearing houses to be located in the eurozone if they handle large amounts of euro-denominated securities. Britain's finance ministry said the rule "contravenes European law an
Published 15 Sep, 2011 12:00am
US slams slow, opaque Indian trade policy

US slams slow, opaque Indian trade policy

The United States attacked India's trade policy on Wednesday, criticising its barriers to agricultural imports and retail sector investment and warning that it may not have shaken off the red tape and trade restrictions that has long plagued foreign busin
Published 15 Sep, 2011 12:00am
EU urges tax, aid reforms to save resources

EU urges tax, aid reforms to save resources

European Union policymakers may scrap subsidies for energy, water and transport and impose new taxes as they seek to curb use of finite resources and accelerate the shift towards a lower carbon economy, a draft text seen by Reuters on Wednesday showed. Th
Published 15 Sep, 2011 12:00am
Brazil ready to help tackle global crisis: President

Brazil ready to help tackle global crisis: President

Brazil stands ready to take part in any international rescue plan for the global financial crisis, President Dilma Rousseff said Wednesday. Such aid "could be, maybe," via the International Monetary Fund, she told reporters. But she stressed that "the pro
Published 15 Sep, 2011 12:00am
Britain's jobless leaps to two-year high

Britain's jobless leaps to two-year high

Britain's jobless has risen by the fastest pace in nearly two years on rocketing youth unemployment and a record jobs cull in the public sector, official data showed on Wednesday. The number of people unemployed in Britain jumped to 2.51 million in the th
Published 15 Sep, 2011 12:00am
Spend money now to aid: US fiscal position: Geithner

Spend money now to aid: US fiscal position: Geithner

US Treasury Secretary Timothy Geithner said on Wednesday the United States must take the paradoxical step of spending more money now to improve its long-term fiscal position, including passing a substantial jobs package. Geithner told a forum sponsored by
Published 15 Sep, 2011 12:00am
Flat retail sales keep US on recession watch

Flat retail sales keep US on recession watch

Growth in US retail sales stalled in August after a spending battle in Congress crushed consumer sentiment, leaving the economy perched uncomfortably close to recession. The weak data puts more pressure on the US Federal Reserve to try to boost growth, wh
Published 15 Sep, 2011 12:00am
'Dengue virus can be eliminated through collective efforts'

'Dengue virus can be eliminated through collective efforts'

Dengue virus could only be eliminated through political commitment, media, public awareness and professional's collective efforts therefore, people belonging to all walks of life should play their active and positive role in this regard. These views were
Published 15 Sep, 2011 12:00am
Chairman APTMA welcomes proposed LNG Policy 2011

Chairman APTMA welcomes proposed LNG Policy 2011

Chairman All Pakistan Textile Mills Association (APTMA) Gohar Ejaz has welcomed the proposed Liquefied Natural Gas (LNG) Policy 2011 and dubbed it as right step in the right direction in the larger interest of national economy.
Published 15 Sep, 2011 12:00am
VCs appointment: LHC gives last chance to Khosa for representation

VCs appointment: LHC gives last chance to Khosa for representation

A division bench headed by Chief Justice Ijaz Ahmad Chaudhry while expressing displeasure over unnecessary delay on part of Punjab governor in capacity as chancellor of public sector universities gave last opportunity to make representation of his office
Published 15 Sep, 2011 12:00am
Flood-hit people: Altaf announces Rs 2.5 million donation

Flood-hit people: Altaf announces Rs 2.5 million donation

Muttahida Qaumi Movement (MQM), Chief Altaf Hussain on Wednesday announced Rs 2.5 million donations to Khidmat-e-Khalaq (KKF), to help affectees of heavy rain and flood in Sindh. Altaf Hussain has said the rain and flood have left millions of people homel
Published 15 Sep, 2011 12:00am
The Weather

The Weather

The weather report on Wednesday (September 14, 2011) and the forecast for Thursday (September 15, 2011).

Published 15 Sep, 2011 12:00am
353 fresh dengue cases reported in Lahore

353 fresh dengue cases reported in Lahore

Secretary Health Punjab, Mohammad Jehanzeb Khan has appealed to all the private hospitals through media to provide data of dengue patients visiting to their facilities to the health department so that accurate and effective future planning could be evolve
Published 15 Sep, 2011 12:00am
CDGK launches anti-dengue campaign

CDGK launches anti-dengue campaign

City District Government Karachi (CDGK) has launched anti-dengue campaign in city here on Wednesday. The CDGK had already prepared a micro management plan to control the spread of dengue virus, which is being implemented. It has urged Cantonment Boards to
Published 15 Sep, 2011 12:00am
Torrential rain in Quetta: four children killed

Torrential rain in Quetta: four children killed

Torrential rain wreaked havoc in Quetta, where four children were killed and several houses were damaged. After heavy rainfall, several areas came under water here due to poor sanitation system. In several low-lying areas, water sneaked into houses, causi
Published 15 Sep, 2011 12:00am
Imposition of ST: tractor industry now virtually collapsing

Imposition of ST: tractor industry now virtually collapsing

The tractor industry has been hard hit by the imposition of Sales Tax in March 2011, and is now virtually collapsed. Fiat Tractors plant is closed since July while Millat Tractors has drastically cut down their production. Many thousand unsold tractors ar
Published 15 Sep, 2011 12:00am
Finance likely to grant extension to Zaka Ashraf

Finance likely to grant extension to Zaka Ashraf

The Finance Ministry is likely to give extension to Zaka Ashraf, President of Zarai Tarqiati Bank Limited (ZTBL), whose term expired on August 30, 2011, sources in Finance Ministry told Business Recorder. ZTBL's Board of Directors (BoD), headed by
Published 15 Sep, 2011 12:00am
'Sound and Delights of Brazil' festival marks 189th Independence Day

'Sound and Delights of Brazil' festival marks 189th Independence Day

The Brazilian Embassy in Pakistan has arranged the festival 'Sound and Delights of Brazil at a local hotel to mark its 189th Independence Day. On the special invitation of Ambassador of Brazil to Pakistan Alfredo Leoni, Brazilian Chef Henrique Timoteo and
Published 15 Sep, 2011 12:00am
LPG price slashed by Rs 5 per kg

LPG price slashed by Rs 5 per kg

The Liquefied Petroleum Gas (LPG) marketing companies have reduced price by Rs 5 per kg and now there is Rs 55 reduction on domestic cylinder of 11-kg and Rs 120 on commercial cylinder. According to Ogra officials, more reduction in LPG prices is expected
Published 15 Sep, 2011 12:00am
SNGPL restores gas supply to CNG stations

SNGPL restores gas supply to CNG stations

Sui Northern Gas Pipe Lines Limited (SNGPL) restored gas supply to the CNG stations in Lahore, Sheikhupura, Sahiwal, Multan and Gujranwala region after 6pm on Wednesday. According to the SNGPL officials, according to gas management plan, the company resto
Published 15 Sep, 2011 12:00am
40 percent of electoral rolls verification completed

40 percent of electoral rolls verification completed

From 35 to 40 percent verification of the ongoing electoral rolls has so far been completed across the country, said Secretary Election Commission of Pakistan Ishtiak Ahmed Khan here. Talking to media persons, he said the verification staff has been direc
Published 15 Sep, 2011 12:00am
Climate change termed major reason of Sindh flooding

Climate change termed major reason of Sindh flooding

Advisor Climate Affairs, Dr Qamar-uz-Zaman Chaudhry has termed climate change as the major reason of unprecedented torrential monsoon rains in Sindh which caused severe flooding in the province. In a statement issued here, Dr Qamar who is also a lead auth
Published 15 Sep, 2011 12:00am
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