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Archive - 2011-10-22
Fiat to explain output plans
Industry

Fiat to explain output plans

MILAN: Italian market watchdog Consob has asked Fiat to clarify its business plan for its Italian factories, a source cl
Published 22 Oct, 2011 04:01pm
Arab world needs jobs, investment: WEF
Top News

Arab world needs jobs, investment: WEF

JORDAN : The popular uprisings that have swept the Arab world this year have slowed economies across the region, and job
Published 22 Oct, 2011 02:31pm
Iran dismisses US sanctions threat
Top News

Iran dismisses US sanctions threat

TEHRAN: Iran dismissed on Saturday a threat by Washington to impose sanctions on its central bank in response to an alle
Published 22 Oct, 2011 02:18pm
Gold moves up to Rs46,671 per 10 grams
Top News

Gold moves up to Rs46,671 per 10 grams

KARACHI : Gold moved up by Rs214 to close at Rs46,671 per 10 grams in the local market on Saturday, as its international
Published 22 Oct, 2011 11:54am
Rain delays play in Bangladesh
Cricket

Rain delays play in Bangladesh

CHITTAGONG: The start of the second day's play of the first test between Bangladesh and West Indies was delayed on Satur
Published 22 Oct, 2011 04:48am
Saudi crown prince dies
Top News

Saudi crown prince dies

WASHINGTON: Saudi Crown Prince Sultan bin Abdul Aziz, who served as the kingdom's first deputy prime minister and minist
Published 22 Oct, 2011 04:45am
US demands action 'in days and weeks'
Top News

US demands action 'in days and weeks'

ALI HUSSAIN ISLAMABAD: United States Secretary of State Hillary Clinton on Friday showed a strong appreciation of Isl
Published 22 Oct, 2011 04:43am
Clinton all praise for Hafeez
Top News

Clinton all praise for Hafeez

RECORDER REPORT ISLAMABAD: US Secretary of State Hillary Clinton was all praise for Finance Minister Dr Hafeez Sheikh
Published 22 Oct, 2011 04:37am
Rs 12.2 billion Lyari Expressway to be completed in 21/2 years

Rs 12.2 billion Lyari Expressway to be completed in 21/2 years

Federal Minister for Communications Arbab Alamgir Khan Khalil on Friday said that Lyari Express Way (LEW), costing Rs 12.2 billion, will be completed within the next two-and-a-half years which will minimise traffic load in Karachi. The Minister said this
Published 22 Oct, 2011 12:00am
'PTI public meeting to end dominance of PML-N'

'PTI public meeting to end dominance of PML-N'

The leaders of Pakistan Tahreek-e-Insaf (PTI) on Friday said PTI's October 30 public meeting will end the political dominance of PML-N, which is not a true people's party. General Secretary PTI Punjab Dr Yasmeen Rashid and other local leaders expressed th
Published 22 Oct, 2011 12:00am
President ABF felicitates SBP governor

President ABF felicitates SBP governor

President American Business Forum (ABF) Salim Ghauri has felicitated the newly appointed Governor State Bank of Pakistan (SBP) Yasin Anwar and expressed the hope that he would be able to strike a balance between the discount rate and inflation in the coun
Published 22 Oct, 2011 12:00am
Development projects in various cities discussed

Development projects in various cities discussed

Divisional Commissioner Tahir Hussain chaired a meeting to discuss various development projects and other relevant issues in connection with 'Punjab Large Cities Urban Sector Development' with the World Bank Pre Appraisal Mission.
Published 22 Oct, 2011 12:00am
3.5 million children die every year from respiratory infections: WHO

3.5 million children die every year from respiratory infections: WHO

The World Health Organisation (WHO) says that as many as 3.5 million children die every year from respiratory infections and diarrhoea-related diseases before the age of five. This is equal to a Jumbo Jet full of less than five-year old children crashing
Published 22 Oct, 2011 12:00am
Three killed in various areas of city

Three killed in various areas of city

Three persons including a woman were killed in different areas of the metropolis here on Friday. According to police, a man, Abdul Jabbar, 35, was shot dead by unknown armed men near his house in Baloch Goth in the limits of Orangi Town police station. Th
Published 22 Oct, 2011 12:00am
PAEC clarifies

PAEC clarifies

Apropos a news items related to KANUPP recently appeared in the media, Pakistan Atomic Energy Commission (PAEC) would like to provide some basic facts related to the safety regime of KANUPP and its surroundings in general and the recent leakage incident i
Published 22 Oct, 2011 12:00am
PYO to take out 'Difa-e-Jamhoriyat Rally' on October 26

PYO to take out 'Difa-e-Jamhoriyat Rally' on October 26

Peoples Youth Organisation (PYO), Karachi Division, would take out "Difa-e-Jamhoriyat Rally" on October 26, at 1pm, from Peoples Secretariat near the Mausoleum of Quaid-e-Azam to Karachi Press Club.
Published 22 Oct, 2011 12:00am
KU fails to induct 10 more buses in its fleet

KU fails to induct 10 more buses in its fleet

The University of Karachi has failed to induct 10 more point buses in its fleet according to approved plan due to what varsity officials said growing financial constraints, Business Recorder learnt. University decided to replace year's old point bu
Published 22 Oct, 2011 12:00am
Thar airport groundbreaking ceremony cancelled again

Thar airport groundbreaking ceremony cancelled again

The authorities at the Presidency in Islamabad once again cancelled the groundbreaking ceremony of Thar International Airport at Islamkot near by Thar Coal Project scheduled for October 20th. Reliable sources told Business Recorder on Friday that a
Published 22 Oct, 2011 12:00am
SRB notifies schedule for quarterly tax returns

SRB notifies schedule for quarterly tax returns

The authorities of Sindh Revenue Board (SRB) have issued Notification No SRB-3-4/10/2011, in which it is stated that SRB directs that persons or class of persons providing or rendering taxable services specified in second schedule of Sindh Sales Tax on Se
Published 22 Oct, 2011 12:00am
LEAs arrest 8 suspects including a target killer

LEAs arrest 8 suspects including a target killer

The law enforcement agencies on Friday claimed to have arrested eight suspects including a target killer in separate raids in various parts of the metropolis. According to police sources, the Crime Branch Zone II apprehended a man accused of being involve
Published 22 Oct, 2011 12:00am
Polio cases in Balochistan: Magsi concerned over rampant prevalence

Polio cases in Balochistan: Magsi concerned over rampant prevalence

Member of PM's National Task Force Committee and Balochistan Minister Begum Shama Perveen Magsi expressed grave concern over the rampant increase in the cases of polio in Balochistan. She urged the parents to administer their children anti-polio vaccine t
Published 22 Oct, 2011 12:00am
JICA, CDGK ink MoU to promote investment

JICA, CDGK ink MoU to promote investment

City District Government Karachi (CDGK) and Japan International Co-operation (JICA) on Friday inked a memorandum of understanding (MoU) with an intention to promote investment besides securing international standard infrastructure in metropolitan.The MoU
Published 22 Oct, 2011 12:00am
Woman among three persons killed

Woman among three persons killed

At-least three persons including a woman were killed in separate incidents in various parts of the metropolis, here on Friday. According to police, 30-year-old Devanand, after the death of his wife namely Paro some three days ago, claimed his life through
Published 22 Oct, 2011 12:00am
Action ordered against poisonous liquor makers

Action ordered against poisonous liquor makers

Taking serious notice of deaths of several persons in a locality of Chanesar Goth here due to consumption of poisonous liquor, Sindh Minister for Excise and Taxation Mukesh Kumar Chawla has instructed the Director General Excise, Sindh, and Director Excis
Published 22 Oct, 2011 12:00am
Pakistan, India rice exports to rise

Pakistan, India rice exports to rise

India, the world's second-largest rice producer after China, is forecast to produce 102 million tonnes of rice in the 2011/2012 season up from 99 million tonnes for 2010/2011, an executive at a rice export company said on Friday. The estimate by Karan Cha
Published 22 Oct, 2011 12:00am
FBR transfers and postings

FBR transfers and postings

The Federal Board of Revenue has transferred and posted nine officials of Pakistan Customs Service (Grade-17 to 19) with immediate effect. According to a notification issued here on Friday, Dr Asif Mahmood Jah (Pakistan Customs Service/BS-19) has been tra
Published 22 Oct, 2011 12:00am
FBR's new IT system: Core business domain team reconstituted

FBR's new IT system: Core business domain team reconstituted

After repeated failure of the tax department to implement an error-free IT system, the Federal Board of Revenue has constituted another team to implement and operationalise an integrated IT system at the level of the field formations. In this connection,
Published 22 Oct, 2011 12:00am
ST collection monitoring: FBR forms committees

ST collection monitoring: FBR forms committees

The Federal Board of Revenue (FBR) has extended the scope of the committees to Karachi, Hyderabad, Sukkur and Quetta for monitoring the collection of sales tax from steel sector to improve compliance by the steel units. The FBR issued a Sales Tax General
Published 22 Oct, 2011 12:00am
Arms licenses Nadra extends deadline for computerisation

Arms licenses Nadra extends deadline for computerisation

On the directives of Ministry for Interior, Nadra has extended deadline for the computerisation of arms licenses till December 31, 2011. This was due to wide spread rains and floods in Sindh and dengue epidemic in Punjab, Nadra spokesman stated this in a
Published 22 Oct, 2011 12:00am
Afghan team calls on chairperson National Assembly law body

Afghan team calls on chairperson National Assembly law body

Chairperson, National Assembly Standing Committee on Law, Justice and Parliamentary Affairs, Begum Nasim Akhter Chaudhry on Friday said that Pakistan wanted to have friendly relations with all ethnic and political groups of Afghanistan.
Published 22 Oct, 2011 12:00am
Haqqani network: 'Clinton's visit aimed at pressurising Pakistan'

Haqqani network: 'Clinton's visit aimed at pressurising Pakistan'

Chief Jamaat-e-Islami (JI) Pakistan, Syed Munawar Hasan has said that arrival of US Secretary of State Hillary Clinton in Pakistan aims to pressurise Pakistan to take concrete action against the Haqqani network in North Waziristan. Addressing a large Frid
Published 22 Oct, 2011 12:00am
SAFED conducts ASER Pakistan 2011 survey

SAFED conducts ASER Pakistan 2011 survey

The South Asian Forum for Education Development (SAFED) conducted Annual Status of Education Report (ASER) Pakistan 2011 survey to examine learning levels of children between 5-16 living in rural areas of 27 districts in Punjab. The survey was conducted i
Published 22 Oct, 2011 12:00am
Reforms in tax collection system urged

Reforms in tax collection system urged

Speakers at a youth seminar on the eve of International Day for Eradication of Poverty on Friday urged the government to bring reforms in tax collection policies and provide relief to lower class. The seminar was jointly organised by Islamabad Crescent Li
Published 22 Oct, 2011 12:00am
Agriculture sector share in GDP declines drastically

Agriculture sector share in GDP declines drastically

Despite manifold increase in the volume of major crops' production, the share of agriculture sector in the Gross Domestic Product (GDP) has declined from 60 percent in 1950 to around 22 percent in year 2010. On the other side, the contribution of manufact
Published 22 Oct, 2011 12:00am
Malaysian envoy vows to facilitate promotion of trade

Malaysian envoy vows to facilitate promotion of trade

Pakistan and Malaysia can boost their bilateral trade, said Malaysian High Commissioner, DATO' Ahmad Anwar Adnan during a meeting with President, Vice President & Executive committee at FCCI. He said in spite of Free Trade Agreement (FTA) our bilateral tr
Published 22 Oct, 2011 12:00am
Baizai scheme to irrigate 25,000 acres of agriculture land: Hoti

Baizai scheme to irrigate 25,000 acres of agriculture land: Hoti

Chief Minister Khyber Pakhtunkhwa Ameer Haider Khan Hoti said that Baizai Irrigation scheme will irrigate 25,000 acres land of Malakand and Mardan and seasonal agricultural land will turn to properly irrigational land, which will result in bringing agricu
Published 22 Oct, 2011 12:00am
Town administration directed to remove old tyres

Town administration directed to remove old tyres

Chairman Emergency Response Committee for Dengue, Mian Marghoob Ahmad has directed the town administration to remove hundreds of old tyres placed outside the tyre shops in Samanabad Town as these are the ideal places of dengue mosquito growth.
Published 22 Oct, 2011 12:00am
Dengue spray case: LHC asks government to file reply till October 24

Dengue spray case: LHC asks government to file reply till October 24

Lahore High Court Chief Justice, Ijaz Ahmad Chaudhry observed that chief minister Punjab should not play in the hands of people in a way which makes his personality doubtful. The CJ passed these remarks after knowing that some government officials had man
Published 22 Oct, 2011 12:00am
340-kg narcotics seized

340-kg narcotics seized

Anti Narcotics Force (ANF) has seized more than 340 kilograms narcotics from Rawalpindi, Karachi and Quetta during this month. An official of Narcotics Ministry said that on October 5, ANF Rawalpindi, recovered 13kgs heroin from personal possession of a p
Published 22 Oct, 2011 12:00am
Immediate import of fertiliser demanded

Immediate import of fertiliser demanded

Punjab Agriculture Minister Malik Ahmad Ali Aulakh on Friday demanded of the federal government to import fertiliser immediately in a bid to avert the crisis as the country is facing severe shortage of fertiliser during current Rabi season. Addressing Kis
Published 22 Oct, 2011 12:00am
Three more people succumb to dengue

Three more people succumb to dengue

Gradual decrease in the dengue epidemic is being observed, however, another three people lost their lives due to dengue virus raising the death toll in Punjab to 261 and 232 in Lahore.
Published 22 Oct, 2011 12:00am
Corrupt government will have to go: Hamza

Corrupt government will have to go: Hamza

Pakistan Muslim League-Nawaz (PML-N) leader Hamza Shahbaz Sharif on Friday said corrupt government will have to go as people of the country do not trust this government anymore. Addressing PML-N's 'Go Zardari Go protest camps' set up at different areas of
Published 22 Oct, 2011 12:00am
72 couples unite in mass marriages

72 couples unite in mass marriages

Mass marriages program of 72 couples was organised by Madina Foundation at the University of Faisalabad here on Friday. Saeed Adam, Chief Khadim of Hujra-tun-Nabvi (SAW), Madina-tul-Munawara, was chief guest while Lieutenant General (Retd) Khalid Maqbool,
Published 22 Oct, 2011 12:00am
High input costs affecting cement production: APCMA

High input costs affecting cement production: APCMA

Cement exports have shown a dismal performance as witnessed by a paltry 0.21 percent increase in the first quarter of the financial year 2012 as compared to corresponding period last year. According to an All Pakistan Cement Manufacturers Association (APC
Published 22 Oct, 2011 12:00am
Chairman APTMA felicitates Governor SBP

Chairman APTMA felicitates Governor SBP

Chairman All Pakistan Textile Mills Association (APTMA) Mohsin Aziz welcomes appointment of Governor State Bank of Pakistan (SBP) Yasin Anwar and expresses the hope that a capable person like him can overcome the issues affecting monetary policy matters.
Published 22 Oct, 2011 12:00am
Death of an era, dawn of an era

Death of an era, dawn of an era

Colonel Muammar Qadhafi came riding a revolution and has left fleeing a revolution, after dancing on the world stage for 42 years much to the amusement and chagrin of the bewildered audience to whom he presented himself as an admixture of arrogance and ap
Published 22 Oct, 2011 12:00am
Palestinian-Israeli prisoner exchange

Palestinian-Israeli prisoner exchange

Under a rare prisoner swap deal last Tuesday, Israel started releasing 1,027 Palestinians, including women, who had been rotting in its jails for several years - in one case for 13 years - in exchange for an Israeli soldier, Gilad Shalit. Hamas men had ab
Published 22 Oct, 2011 12:00am
Economic governance goes haywire

Economic governance goes haywire

It makes depressing reading when the country is discussed by all and sundry in disparaging terms. The recent eruption between the existing Deputy Chairman and the former Adviser/Economist to the Musharraf government highlights the baron argument regarding
Published 22 Oct, 2011 12:00am
Franco-German euro agenda-setting irks partners in Brussels

Franco-German euro agenda-setting irks partners in Brussels

On his website, European Union President Herman Van Rompuy says it is his job to "convene" special meetings of the bloc's leaders. But this week, French President Nicolas Sarkozy and German Chancellor Angela Merkel took on that role for themselves, indica
Published 22 Oct, 2011 12:00am
Qadhafi death emboldens Arab revolts

Qadhafi death emboldens Arab revolts

The killing of Libya's former strongman Muammar Qadhafi has raised fresh hopes for people in other Arab countries that their pro-democracy revolts will eventually prevail, analysts say. "Qadhafi's end sends two messages to the Arab countries being swept b
Published 22 Oct, 2011 12:00am
Why are our leaders so security obsessed?

Why are our leaders so security obsessed?

The fear of becoming a target for attack has simply turned our political leaders into a bunch of petrified chickens who dare not venture out of their heavily fortified, barricaded and guarded homes.
Published 22 Oct, 2011 12:00am
Reforms to improve Discos performance: Qamar

Reforms to improve Discos performance: Qamar

Federal Minister for Water and Power, Syed Naveed Qamar has said that the reforms in power sector will improve the efficiency of the power distribution companies and the government has approved a plan in this regard. He said this while presiding over a me
Published 22 Oct, 2011 12:00am
Telenor Pakistan holds awards ceremony for apps developers

Telenor Pakistan holds awards ceremony for apps developers

Telenor Pakistan held an awards distribution ceremony on other day for winners of its opportunity competition. The competition invited Pakistani students and software developers to create applications (apps) in various categories. Prizes were given to dev
Published 22 Oct, 2011 12:00am
Hepatitis screening camp at KPC today

Hepatitis screening camp at KPC today

The Third Hepatitis Screening Campaign for Karachi Press Club and their respective families will be held on Saturday, said Ghazala Fasih, Secretary of the Health Committee of Karachi Press Club (KPC) on Friday. The camp will be functional between 1300 hrs
Published 22 Oct, 2011 12:00am
PHSADC to hold hunting, sporting arms show

PHSADC to hold hunting, sporting arms show

Pakistan Hunting and Sporting Arms Development Company (PHSADC) is going to hold two-day Target and Outdoor Shooting Sports Show (TOSS) 2011 next month. TOSS 2011 first event of such kind in hunting and sporting arms sector will be organised in Pak-China
Published 22 Oct, 2011 12:00am
SIDB to establish wood technology institute

SIDB to establish wood technology institute

Small Industries Development Board (SIDB) is going to establish an institute of wood technology for imparting training to the workers for development and bringing furniture sector at par with the requirements of the modern era. This was stated by Managing
Published 22 Oct, 2011 12:00am
Scattered rain, dust storm predicted

Scattered rain, dust storm predicted

The Met Office on Friday said a fresh western disturbance is affecting upper parts of the country, which is likely to remain for the next 2-3 days. Scattered rain with dust storm and thunderstorm is expected in upper Punjab, Khyber-Pakhtunkhwa and Kashmir
Published 22 Oct, 2011 12:00am
Sindh University signs lease agreement

Sindh University signs lease agreement

The Sindh University signed on Friday a lease agreement with the Department of Antiquities, Government of Sindh as per the decision of SU Syndicate. Under the agreement, the Sindh University will hand over possession of three acres land to the department
Published 22 Oct, 2011 12:00am
Gilani upgrades CIIT to university level

Gilani upgrades CIIT to university level

Prime Minister Syed Yousuf Raza Gilani on Friday granted COMSATS Institute of Information Technology (CCIT) status of a university. He pledged to enhance education budget, saying allocation of resources for education is necessary to develop human resource
Published 22 Oct, 2011 12:00am
FATA directors identify three sites for university

FATA directors identify three sites for university

Directorate Education, FATA, identifies three sites for the establishment of FATA University. Site selection committee constituted for the purpose will soon finalise its recommendations in this regard. This was told to Governor, Khyber-Pakhtunkhwa, Barris
Published 22 Oct, 2011 12:00am
Profit after tax of NRL declines

Profit after tax of NRL declines

The profit after tax of National Refinery Limited reduced to Rs 828.308 million in the quarter ended September 30, 2011 as compared to Rs 1,349.376 million earned in the corresponding quarter in 2010. The board of directors of the company in its 166th mee
Published 22 Oct, 2011 12:00am
Profit after tax of NRL declines

Profit after tax of NRL declines

The profit after tax of National Refinery Limited reduced to Rs 828.308 million in the quarter ended September 30, 2011 as compared to Rs 1,349.376 million earned in the corresponding quarter in 2010. The board of directors of the company in its 166th mee
Published 22 Oct, 2011 12:00am
Profit after tax of Arif Habib up by Rs 93.336 million

Profit after tax of Arif Habib up by Rs 93.336 million

The profit after taxation of Arif Habib Limited has increased to Rs 93.336 million in the quarter ended September 30, 2011 as compared to Rs 22.140 million earned in the corresponding quarter in 2010. The board of directors of the company in its meeting h
Published 22 Oct, 2011 12:00am
Profit after tax of Arif Habib up by Rs 93.336 million

Profit after tax of Arif Habib up by Rs 93.336 million

The profit after taxation of Arif Habib Limited has increased to Rs 93.336 million in the quarter ended September 30, 2011 as compared to Rs 22.140 million earned in the corresponding quarter in 2010. The board of directors of the company in its meeting h
Published 22 Oct, 2011 12:00am
AHCL profit after tax rises to over Rs 1.62 billion

AHCL profit after tax rises to over Rs 1.62 billion

The profit after tax of Arif Habib Corporation Limited has increased to Rs 1,629.180 million in the quarter ended September 30, 2011 as compared to Rs 509.308 million earned in the corresponding period in 2010. The board of directors of the company in its
Published 22 Oct, 2011 12:00am
AHCL profit after tax rises to over Rs 1.62 billion

AHCL profit after tax rises to over Rs 1.62 billion

The profit after tax of Arif Habib Corporation Limited has increased to Rs 1,629.180 million in the quarter ended September 30, 2011 as compared to Rs 509.308 million earned in the corresponding period in 2010. The board of directors of the company in its
Published 22 Oct, 2011 12:00am
Ufone launches '100+100' offer

Ufone launches '100+100' offer

Ufone, being the most affordable telecom provider in the industry, has launched '100+100' offer through which the subscribers will get 100 free minutes every time they recharge their accounts with Rs 100 or more. These minutes can be used to call any netw
Published 22 Oct, 2011 12:00am
Ikhtiar Baig congratulates Yaseen Anwar

Ikhtiar Baig congratulates Yaseen Anwar

Dr Mirza Ikhtiar Baig, Chairman Standing Committee on Banking, Credit and Finance FPCCI has congratulated Yaseen Anwar on his well deserved appointment as Governor State Bank of Pakistan which reflects the confidence of the government on his abilities loo
Published 22 Oct, 2011 12:00am
Textile sector eyes $3 billion garments export through Expo Pakistan

Textile sector eyes $3 billion garments export through Expo Pakistan

The value-added textile sector eyes garments export worth $3 billion to South America, Russia and Poland as an initial entry into the untapped global markets with clear intentions to reduce dependency on the North American Markets, said exporters at the 6
Published 22 Oct, 2011 12:00am
SU vice chancellor to participate in international education summit

SU vice chancellor to participate in international education summit

Vice Chancellor University of Sindh, Professor Dr Nazir A. Mughal will participate in third World Innovation Summit for Education (WISE) in Doha, Qatar from November 1st to 3rd. The theme of the conference is changing societies - changing education. The c
Published 22 Oct, 2011 12:00am
UAE CG calls on Sindh Governor

UAE CG calls on Sindh Governor

The Consul General of UAE, Suhail Bin Matar Al-Ketbi called on Governor Sindh Ishrat-Ul-Ebad at Governor House to seek his support for the mega event UAE EXPO 2011 - Magnificent 7 at Karachi Expo Centre. The UAE EXPO 2011 is being jointly organised by the
Published 22 Oct, 2011 12:00am
UK wants to double trade volume: Deputy HC

UK wants to double trade volume: Deputy HC

The United Kingdom wants to increase its trade volume to the tune of pounds 2.5 billion from the current 1.5 billion pounds to Pakistan by 2015. "We have presence of 100 companies and their branded commodities on sale in Pakistan at present," said Francis
Published 22 Oct, 2011 12:00am
Warid supports breast cancer awareness drive

Warid supports breast cancer awareness drive

Continuing fight against one of the most fatal female cancer in Pakistan, Warid Telecom is again supporting 'national breast cancer awareness drive' this year in collaboration with Pink Ribbon, Pakistan. Marking October 2011 a pink month company-wide, a s
Published 22 Oct, 2011 12:00am
Ministry finalises draft of first-ever Textile Act

Ministry finalises draft of first-ever Textile Act

Textile Ministry has finalised the draft of first ever textile Act "Textile Industry Development, Promotion and Standard Act, 2011" which will empower the Ministry to formulate regulations and standards for achieving sustainable growth, increase productiv
Published 22 Oct, 2011 12:00am
'Proposed Textile Industry Act-2011 to hit exports'

'Proposed Textile Industry Act-2011 to hit exports'

The value-added textile sector considers the draft 'Textile Industry (Development, Promotion and Standards) Act-2011' a 'Draconian law', "which is destined to hit the country's exports".
Published 22 Oct, 2011 12:00am
Repealing of Doctors Deputation Act demanded

Repealing of Doctors Deputation Act demanded

The doctors community of Khyber Pakhtunkhwa has demanded repealing controversial Doctors Deputation and Post-graduation Act and called for taking tangible measures for provision security to doctors in the province. Khyber Pakhtunkhwa Legislative Assembly
Published 22 Oct, 2011 12:00am
Muzaffar's book launching today

Muzaffar's book launching today

The launching ceremony of Muzaffar Muhammad Ali's book titled "Pakistani Siasat Kay Raazdaan Sahafi - Safdar Mir Say Hamid Mir Tak" is going to be held at Al-Hamra Hall No 3, the Mall on Saturday (today). Provincial Minister for Law Rana Sanaullah will ch
Published 22 Oct, 2011 12:00am
Turkey presses PKK hunt, Iran pledges cooperation

Turkey presses PKK hunt, Iran pledges cooperation

Turkey and Iran pledged on Friday to cooperate in the fight against Kurdish militants, as thousands of Turkish troops pressed ahead with an air and ground offensive for a third day following an attack that killed 24 Turkish soldiers.
Published 22 Oct, 2011 12:00am
Floods threaten Bangkok; scores killed in Myanmar

Floods threaten Bangkok; scores killed in Myanmar

Thailand battled to protect the capital Bangkok from being swamped by water on Friday, with canals full to the brim after devastating floods across the region that sources in neighbouring Myanmar said had killed at least 100 people there. After trying to
Published 22 Oct, 2011 12:00am
Iran to soon move nuclear material to bunker

Iran to soon move nuclear material to bunker

Iran plans to soon start moving nuclear material to an underground site for the pursuit of sensitive atomic activities, diplomatic sources say, a move likely to add to Western fears about Tehran's intentions. They said a first batch of uranium hexafluorid
Published 22 Oct, 2011 12:00am
Protests close London's St Paul's Cathedral

Protests close London's St Paul's Cathedral

St Paul's Cathedral said Friday it was closing its doors to the public for the first time in modern history because of anti-capitalist demonstrators camped outside the London landmark. More than 200 activists inspired by the Occupy Wall Street movement ha
Published 22 Oct, 2011 12:00am
Shah Rukh Khan in copyright row

Shah Rukh Khan in copyright row

Bollywood actor Shah Rukh Khan was on Friday ordered to deposit $200,000 with an Indian court after a scriptwriter claimed that the star's new superhero film had breached copyright. Two judges at the Bombay High Court said there appeared to be a prima fac
Published 22 Oct, 2011 12:00am
Qadhafi's death emboldens anti-Assad protesters in Syria

Qadhafi's death emboldens anti-Assad protesters in Syria

The killing of Libya's Muammar Qadhafi fuelled anti-government rallies across Syria after Friday prayers and security forces killed 13 people in a continued crackdown on protesters seeking President Bashar al-Assad's ouster, activists said. Protesters fou
Published 22 Oct, 2011 12:00am
10 peacekeepers killed in Somalia battle

10 peacekeepers killed in Somalia battle

The African force protecting Somalia's government acknowledged on Friday at least 10 of its troops had been killed in battle in Mogadishu and said the true toll could still climb, after rebels showed dozens of bodies. East African officials held an emerge
Published 22 Oct, 2011 12:00am
UN completes draft of green climate fund

UN completes draft of green climate fund

A UN committee has completed the draft design of a fund to help developing countries tackle climate change, paving the way for its launch in 2013, the UN's climate chief said on Friday. Last year, countries agreed to create the 'Green Climate Fund' to cha
Published 22 Oct, 2011 12:00am
Guatemalan leader's family gets apology for 1954 coup

Guatemalan leader's family gets apology for 1954 coup

The Guatemalan government officially apologised Thursday to the family of ex-president Jacobo Arbenz, who was ousted 57 years ago in a CIA-backed coup in one of the opening acts of the Cold War. "As head of state, as constitutional president of the republ
Published 22 Oct, 2011 12:00am
Foreign banks in China scramble to meet new deposit rule

Foreign banks in China scramble to meet new deposit rule

The race for cash among foreign banks in China is heating up as some struggle to rake in enough yuan deposits to meet a regulatory requirement that kicks in at the end of the year. Many of the larger commercial banks operating in China, such as HSBC Holdi
Published 22 Oct, 2011 12:00am
US Treasury nominee approved after hold lifted

US Treasury nominee approved after hold lifted

The US Senate on Friday confirmed Janice Eberly as the US Treasury's assistant secretary for economic policy after a senator partially lifted a hold he had placed on nominees for Treasury positions. Eberly, who most recently taught at the Kellogg School o
Published 22 Oct, 2011 12:00am
EU urges Italy cuts, reforms as 'matter of urgency'

EU urges Italy cuts, reforms as 'matter of urgency'

The European Commission on Friday urged Italy's government to finalise and present a raft of new budget cuts and reforms "as a matter of urgency." Shortly before eurozone finance ministers were to open days of crunch meetings in Brussels, EU Economic Affa
Published 22 Oct, 2011 12:00am
Japan finance chiefs upbeat on solution to Europe crisis

Japan finance chiefs upbeat on solution to Europe crisis

Japan's financial chiefs expressed optimism on Friday that Europe was heading towards a solution to the region's debt crisis, despite deep divisions between France and Germany over how to strengthen the euro zone bailout fund.
Published 22 Oct, 2011 12:00am
AIG loses bid to move $10 billion fraud case versus BofA

AIG loses bid to move $10 billion fraud case versus BofA

A federal judge rejected American International Group Inc's request to move its $10 billion mortgage fraud lawsuit against Bank of America Corp back to a New York state court, where AIG believed the case belonged. US District Judge Barbara Jones in Manhat
Published 22 Oct, 2011 12:00am
CEE banks vulnerable to liquidity constraints

CEE banks vulnerable to liquidity constraints

Bankers and economists have warned that some financial institutions in Central and Eastern Europe are increasingly vulnerable to liquidity risks as stresses in the eurozone banking system continue to heighten. Western European lenders such as UniCredit, R
Published 22 Oct, 2011 12:00am
Sangakkara keeps Pakistan at bay

Sangakkara keeps Pakistan at bay

Kumar Sangakkara put his wealth of experience on show with a pugnacious unbeaten hundred to keep Pakistan's victory bids on hold in the first Test here on Friday. The 33-year-old left-hander notched 161 for his 26th Test hundred to help Sri Lanka, trailin
Published 22 Oct, 2011 12:00am
Blatter announces anti-corruption measures

Blatter announces anti-corruption measures

FIFA president Sepp Blatter announced his long-awaited anti-corruption plan on Friday including a pledge to re-open the case into the collapse of former marketing partner ISL. Blatter, re-elected for a fourth term in June which he says will be his last, a
Published 22 Oct, 2011 12:00am
City, United ready for Manchester 'clasico'

City, United ready for Manchester 'clasico'

Manchester may not yet be, as a local newspaper columnist recently declared, "the football capital of the world." But for 90 minutes at Old Trafford on Sunday, it will certainly feel like it. A global audience of several hundred million will turn their ga
Published 22 Oct, 2011 12:00am
Rahim, Tamin boost Bangladesh

Rahim, Tamin boost Bangladesh

Mushfiqur Rahim and Tamim Iqbal cracked impressive half-centuries to help Bangladesh post 255-4 against the West Indies on the opening day of the first Test on Friday. Wicket-keeper Rahim scored an unbeaten 68 in his first Test as captain and left-handed
Published 22 Oct, 2011 12:00am
Win over England not revenge, says Dhoni

Win over England not revenge, says Dhoni

India's one-day series win over England should not be regarded as revenge for the side's humiliating defeats to their rivals a few months ago, Mahendra Singh Dhoni has said. The Indian captain added he was disappointed at England's behaviour on the field,
Published 22 Oct, 2011 12:00am
Bresnan fined for dissent

Bresnan fined for dissent

England fast bowler Tim Bresnan has been fined 7.5 percent of his match fee for showing dissent during Thursday's one-day international against India in Mohali. The paceman was charged following an incident at the end of the 18th over when he snatched his
Published 22 Oct, 2011 12:00am
India, Pakistan draw in thriller

India, Pakistan draw in thriller

Arch-rivals Pakistan and India fought out a thrilling 1-1 stalemate in the men's draw of the International Super Series in Perth on Friday in a game full of chances for both sides. It was the most entertaining match so far of the innovative nine-a-side to
Published 22 Oct, 2011 12:00am
Anderlecht win again, Udinese down Atletico

Anderlecht win again, Udinese down Atletico

Anderlecht kept up their 100 percent record in the Europa League with a 2-0 win at Sturm Graz while Udinese struck late to sink Atletico Madrid by the same score in Thursday's top match. Anderlecht sprung to life midway through the second half when Guilla
Published 22 Oct, 2011 12:00am
Australia take World Cup bronze

Australia take World Cup bronze

Australia finished the World Cup on a high with a bruising 21-18 third place playoff win over Wales at Eden Park here Friday. The Wallabies battled on after losing star backs Quade Cooper and Kurtley Beale with first-half injuries to edge out the Welsh wi
Published 22 Oct, 2011 12:00am
Yuan ends up a tad

Yuan ends up a tad

The yuan closed a touch higher versus the dollar on Friday after the People's Bank of China set a slightly stronger mid-point in the wake of a fall in the US Dollar Index. The yuan remained more than 400 pips lower than its record trading high hit on Octo
Published 22 Oct, 2011 12:00am
Swiss franc climbs

Swiss franc climbs

The Swiss franc climbed against the euro on Friday amidst increased risk aversion due to concerns about Germany and France not reaching an agreement on how to deal with Europe's debt crisis. The dollar also tumbled against the Swiss franc, falling 1 perce
Published 22 Oct, 2011 12:00am
Emerging Asian currencies fall

Emerging Asian currencies fall

Emerging Asian currencies fell on Friday, with most of them poised for a weekly loss, as short-term investors continued to cut their bets on riskier assets ahead of a European Union summit where divided leaders will try to forge a solution to the bloc's d
Published 22 Oct, 2011 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee ended weak, after touching a 30-month low on Friday, tracking a fall in domestic equities, and as sentiment remained cautious, with investors awaiting a plan from European leaders to resolve the region's debt crisis. Dollar demand from oi
Published 22 Oct, 2011 12:00am
Australian and New Zealand dollars down

Australian and New Zealand dollars down

The Australian and New Zealand dollars chopped around in slim ranges on Friday on uncertainty over whether a solution to Europe's debt crisis will be found at an EU summit this weekend, or later in the week ahead. The Aussie, which traded between $1.0203
Published 22 Oct, 2011 12:00am
Euro claws higher

Euro claws higher

The euro gained against the dollar and yen on Thursday as investors clung to hopes that this weekend's European Union summit will move policy-makers toward a concrete plan to contain the deepening debt crisis. The single currency staged a late recovery, e
Published 22 Oct, 2011 12:00am
Early trade in New York: risk rally hammers dollar, yen hits record high

Early trade in New York: risk rally hammers dollar, yen hits record high

The US dollar fell broadly on Friday and hit a record low against the yen on hopes Europe was closer to solving its debt crisis and talk the Federal Reserve may take new measures to boost growth. France and Germany said in a joint statement that European
Published 22 Oct, 2011 12:00am
Euro steadies in London

Euro steadies in London

The euro was steady on Friday but was vulnerable on the downside after European leaders sought to play down expectations of progress on the eurozone's debt crisis this weekend, with investors still keen to sell it on rallies. Deep divisions between France
Published 22 Oct, 2011 12:00am
Euro clings to gains in Asia

Euro clings to gains in Asia

The euro on Friday clung to gains eked out in volatile overnight trade but looked increasingly vulnerable as European leaders remained deeply divided ahead of a weekend summit on the region's debt crisis. The euro, last at $1.3786, has kept well off its n
Published 22 Oct, 2011 12:00am
Sterling rises to six-week high

Sterling rises to six-week high

Sterling rose to a six-week high versus a weaker dollar on Friday, buoyed by reported demand from a UK clearer and gaining in tandem with the euro and equities on hopes EU leaders may come closer to resolving the eurozone debt crisis. The pound rose one p
Published 22 Oct, 2011 12:00am
FTSE rises as edgy investors eye EU summit

FTSE rises as edgy investors eye EU summit

Britain's top share index rose on Friday, erasing the previous session's losses, as investors took positions ahead of the European leaders' summit on Sunday, where it is hoped progress will be made towards a resolution to the European debt crisis. The FTS
Published 22 Oct, 2011 12:00am
Hopes of bold EU plan boost European stocks

Hopes of bold EU plan boost European stocks

European stocks rallied on Friday, ending a roller-coaster week on a positive note as investors bet that measures to stop contagion from the Greek debt crisis will soon be unveiled at EU summits. Cyclical and financial stocks led the rally, with miner Xst
Published 22 Oct, 2011 12:00am
Southeast Asian markets: earnings help Singapore, Thailand rise

Southeast Asian markets: earnings help Singapore, Thailand rise

Singaporean and Thai stocks edged up on Friday as better-than-expected earnings lured buyers to big caps but others in Southeast Asia gave up early gains as fund flows to the region slowed ahead of a European summit on Sunday. A choppy trading session, wi
Published 22 Oct, 2011 12:00am
Treasuries little changed

Treasuries little changed

US Treasuries prices were little changed on Thursday as traders were sceptical about the ability of eurozone leaders to come up with a plan to solve the region's debt crisis during a summit this weekend. Reports that France and Germany remained deeply div
Published 22 Oct, 2011 12:00am
Treasuries little changed

Treasuries little changed

US Treasuries prices were little changed on Thursday as traders were sceptical about the ability of eurozone leaders to come up with a plan to solve the region's debt crisis during a summit this weekend. Reports that France and Germany remained deeply div
Published 22 Oct, 2011 12:00am
Seoul shares end up

Seoul shares end up

Seoul shares rose on Friday, rebounding from sharp last-minute falls in the previous session, lifted by rallies in technology issues and construction firms like LG Display and Hyundai Engineering & Construction. Foreign investors were sellers of a net 260
Published 22 Oct, 2011 12:00am
Wall Street posts modest gains

Wall Street posts modest gains

US stocks ended with modest gains on Thursday, shifting back and forth on incremental developments in Europe where leaders sought to reassure investors that a solution to the debt crisis would come soon. The S&P has alternated gains and losses for seven d
Published 22 Oct, 2011 12:00am
Friday's early afternoon trade: summit hopes lift indices

Friday's early afternoon trade: summit hopes lift indices

US stocks rose to their highest levels in more than two months on Friday in anticipation of a weekend European Union debt-crisis summit that could potentially remove a major cloud from markets. Hurdles remain to resolving the crisis, and important differe
Published 22 Oct, 2011 12:00am
Nikkei average down

Nikkei average down

The Nikkei ended slightly lower on Friday in thin trade, bringing its weekly loss to 0.8 percent, as investors awaited more signals from leaders working out the details of a plan to contain Europe's debt crisis. Germany and France released a statement on
Published 22 Oct, 2011 12:00am
Hong Kong shares climbs, China declines

Hong Kong shares climbs, China declines

Hong Kong shares crept higher on Friday, but suffered their first weekly loss in three while the day's turnover hit a 8-1/2-month low, suggesting investors were staying away while seeing if Europe makes progress on its debt crisis at a weekend summit.
Published 22 Oct, 2011 12:00am
Indian shares slip

Indian shares slip

Indian shares closed down 0.9 percent on Friday on caution ahead of the central bank's policy review next week, with Larsen & Toubro among the big losers after the engineering and construction conglomerate cut its order growth outlook. The main 30-share i
Published 22 Oct, 2011 12:00am
Merkel rebuffs Sarkozy on eurozone solution

Merkel rebuffs Sarkozy on eurozone solution

France's push to use more European Central Bank money to fight the eurozone debt crisis ran into strong resistance from Germany and other EU partners on Friday, leaving Paris looking increasingly isolated before a crucial summit. The rift between Europe's
Published 22 Oct, 2011 12:00am
Obama signs long-delayed trade pacts into law

Obama signs long-delayed trade pacts into law

US President Barack Obama signed three free trade deals opposed by many of his fellow Democrats in a low-key ceremony on Friday, capping a five-year push by Republicans to get them approved. The pacts with South Korea, Panama and Colombia are expected to
Published 22 Oct, 2011 12:00am
US Senate defeats White House-backed jobs bill

US Senate defeats White House-backed jobs bill

The bitterly divided US Senate late Thursday defeated a $35 billion item from President Barack Obama's jobs plan, one aimed at helping states employ teachers, police, and emergency workers. Lawmakers voted 50-50 to move forward with the legislation, falli
Published 22 Oct, 2011 12:00am
Jaguar recalls 18,000 cars in UK

Jaguar recalls 18,000 cars in UK

Indian-owned luxury car company Jaguar said Friday it was recalling almost 18,000 cars in Britain due to a problem with cruise control mechanisms. The problem affects diesel-engined X-type models manufactured from 2006 to 2010. Customers have received let
Published 22 Oct, 2011 12:00am
Microsoft profit rises

Microsoft profit rises

Microsoft Corp's quarterly profit rose 6 percent, meeting Wall Street's modest expectations, helped by strong sales of its popular Office applications package, but limited by only slight gains from its flagship Windows operating system. Windows sales edge
Published 22 Oct, 2011 12:00am
Japan okays $157 billion quake budget

Japan okays $157 billion quake budget

Japan's government approved a $157 billion extra budget on Friday including the issuance of new bonds to pay for the bulk of the spending on rebuilding from the March earthquake, paving the way for full-fledged reconstruction. The ruling Democrats are neg
Published 22 Oct, 2011 12:00am
McDonald's boosts profits

McDonald's boosts profits

McDonald's on Friday reported better-than expected profits for the third quarter, as the fast-food giant weathered a sluggish global economy. McDonald's posted a nine percent increase in net income from a year earlier, to $1.51 billion, and a 12 percent h
Published 22 Oct, 2011 12:00am
McDonald's boosts profits

McDonald's boosts profits

McDonald's on Friday reported better-than expected profits for the third quarter, as the fast-food giant weathered a sluggish global economy. McDonald's posted a nine percent increase in net income from a year earlier, to $1.51 billion, and a 12 percent h
Published 22 Oct, 2011 12:00am
Pakistan among Security Council newcomers

Pakistan among Security Council newcomers

Pakistan Friday envoy played down fears of conflict with India and the United States on the UN Security Council as it was among four countries which won seats on the UN's most powerful body. Pakistan, Morocco, Guatemala and Togo all secured two-year seats
Published 22 Oct, 2011 12:00am
US Senate approves Bryson as commerce secretary

US Senate approves Bryson as commerce secretary

The US Senate, on a bipartisan vote of 74-26 on Thursday, confirmed former energy company executive John Bryson as commerce secretary, despite the objection of some Republicans due to his background as an environmentalist.
Published 22 Oct, 2011 12:00am
Pakistan among Security Council newcomers

Pakistan among Security Council newcomers

Pakistan Friday envoy played down fears of conflict with India and the United States on the UN Security Council as it was among four countries which won seats on the UN's most powerful body. Pakistan, Morocco, Guatemala and Togo all secured two-year seats
Published 22 Oct, 2011 12:00am
Austerity 'best' for people of Greece: Trichet

Austerity 'best' for people of Greece: Trichet

Austerity measures in Greece which have sparked violent protests are nevertheless the "best" way for the country to recover from its desperate debt crisis, Europe's central bank chief said Friday. "The measures that are taken are the best way to put progr
Published 22 Oct, 2011 12:00am
NICL scam: Moonis now a free man

NICL scam: Moonis now a free man

District & Session Judge Lahore Mujahid Mustaqeem Ahmed, on Friday acquitted Moonis Elahi, son of former chief minister Punjab Chaudhry Pervez Elahi, in National Insurance Corporation Limited (NICL) scam. At the time judgement was being announced, hundred
Published 22 Oct, 2011 12:00am
Wen tells Europe fundamental reforms needed

Wen tells Europe fundamental reforms needed

Chinese Premier Wen Jiabao urged Europe on Friday to stop its debt crisis spreading across the bloc, warning that fundamental reforms were needed to staunch the eurozone's troubles, in comments made after the two sides postponed an annual summit.
Published 22 Oct, 2011 12:00am
NICL scam: Moonis now a free man

NICL scam: Moonis now a free man

District & Session Judge Lahore Mujahid Mustaqeem Ahmed, on Friday acquitted Moonis Elahi, son of former chief minister Punjab Chaudhry Pervez Elahi, in National Insurance Corporation Limited (NICL) scam. At the time judgement was being announced, hundred
Published 22 Oct, 2011 12:00am
EU, Moscow strike deal on Russia joining WTO

EU, Moscow strike deal on Russia joining WTO

The European Union and Moscow have agreed terms for Russia to join the World Trade Organisation, leaving a bilateral agreement between Russia and Georgia as the only outstanding issue to resolve, the EU's trade chief said on Friday. A deal had been reache
Published 22 Oct, 2011 12:00am
UN rights office for investigation into death

UN rights office for investigation into death

The United Nations human rights office called on Friday for a full investigation into the death of Libyan leader Muammar Qadhafi and voiced concerns that he may have been executed. Images filmed on mobile phones before and after Qadhafi's death showed him
Published 22 Oct, 2011 12:00am
German business confidence falls again

German business confidence falls again

German business confidence deteriorated for the fourth month in a row in October, data showed on Friday, as Europe's economic powerhouse begins to feel the pain of the region's debt crisis. The monthly Ifo business climate index fell by one full point to
Published 22 Oct, 2011 12:00am
UN rights office for investigation into death

UN rights office for investigation into death

The United Nations human rights office called on Friday for a full investigation into the death of Libyan leader Muammar Qadhafi and voiced concerns that he may have been executed. Images filmed on mobile phones before and after Qadhafi's death showed him
Published 22 Oct, 2011 12:00am
Canada's core inflation hits three-year high

Canada's core inflation hits three-year high

Canada's annual core inflation rate jumped in September to its highest level in nearly three years, causing traders to scale back expectations of a possible central bank interest rate cut this year or next. The core rate sped up more than expected to 2.2
Published 22 Oct, 2011 12:00am
Death poses 'number of questions': Russia

Death poses 'number of questions': Russia

Russian Foreign Minister Sergei Lavrov on Friday said the convoy carrying Moamer Qadhafi posed no danger when attacked by Nato jets and questioned other circumstances of the Libyan strongman's death. Speaking in a live radio interview, Lavrov added that W
Published 22 Oct, 2011 12:00am
Chinese investors want all of Saab

Chinese investors want all of Saab

Funding to save Swedish carmaker Saab from bankruptcy has fallen through as Chinese investors would now rather take the company over, the Saab administrator said Friday, asking a court to halt its restructuring process. "The Chinese parties no longer wish
Published 22 Oct, 2011 12:00am
Death poses 'number of questions': Russia

Death poses 'number of questions': Russia

Russian Foreign Minister Sergei Lavrov on Friday said the convoy carrying Moamer Qadhafi posed no danger when attacked by Nato jets and questioned other circumstances of the Libyan strongman's death. Speaking in a live radio interview, Lavrov added that W
Published 22 Oct, 2011 12:00am
Prospects of record high crop may upset cotton prices

Prospects of record high crop may upset cotton prices

On the 18th instant, the Pakistan Cotton Ginners' Association released its periodical report for the fortnight ended on 15th October-11. Necessary details of the report is appended below in Table No 1 According to this report seed-cotton arrivals equivale
Published 22 Oct, 2011 12:00am
Qadhafi should have gone to court: Zuma

Qadhafi should have gone to court: Zuma

South African President Jacob Zuma on Friday said slain Libyan strongman Moamer Qadhafi should have been handed to the international war crimes court after his capture. "It was expected that Moamer Qadhafi would be held if he was caught," said Zuma who wa
Published 22 Oct, 2011 12:00am
Prospects of record high crop may upset cotton prices

Prospects of record high crop may upset cotton prices

On the 18th instant, the Pakistan Cotton Ginners' Association released its periodical report for the fortnight ended on 15th October-11. Necessary details of the report is appended below in Table No 1 According to this report seed-cotton arrivals equivale
Published 22 Oct, 2011 12:00am
Qadhafi should have gone to court: Zuma

Qadhafi should have gone to court: Zuma

South African President Jacob Zuma on Friday said slain Libyan strongman Moamer Qadhafi should have been handed to the international war crimes court after his capture. "It was expected that Moamer Qadhafi would be held if he was caught," said Zuma who wa
Published 22 Oct, 2011 12:00am
Panic selling seen by ginners on fears of decline in cotton rates

Panic selling seen by ginners on fears of decline in cotton rates

Despite the panic selling by ginners prices resisted further decline on the cotton market on Friday in process of trading, dealers said. The Karachi Cotton Association (KCA) official spot rate was inert at Rs 6,100, they said. Prices of seedcotton in Sind
Published 22 Oct, 2011 12:00am
CDWP approves 79 projects worth over Rs 343 billion

CDWP approves 79 projects worth over Rs 343 billion

The Central Development Working Party (CDWP) on Friday approved/recommended 79 projects costing Rs 343.470 billion including a foreign aid component of Rs 134.986 billion. The CDWP approved/recommended these projects mostly related to infrastructure, ener
Published 22 Oct, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 63,692 tonnes of cargo comprising 43,592 tonnes of import cargo and 20,100 tonnes of export cargo including 2,559 loaded & empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 43,592 tonne
Published 22 Oct, 2011 12:00am
CDWP approves 79 projects worth over Rs 343 billion

CDWP approves 79 projects worth over Rs 343 billion

The Central Development Working Party (CDWP) on Friday approved/recommended 79 projects costing Rs 343.470 billion including a foreign aid component of Rs 134.986 billion. The CDWP approved/recommended these projects mostly related to infrastructure, ener
Published 22 Oct, 2011 12:00am
Canadian canola futures down

Canadian canola futures down

ICE Canadian canola futures extended their losing streak to four days on Thursday, but ended well off their daily lows, following soyabeans and crude oil. Light farmer selling kept hedge pressure light. Fund selling noted earlier. Nearby November contract
Published 22 Oct, 2011 12:00am
CDWP approves 79 projects worth over Rs 343 billion

CDWP approves 79 projects worth over Rs 343 billion

The Central Development Working Party (CDWP) on Friday approved/recommended 79 projects costing Rs 343.470 billion including a foreign aid component of Rs 134.986 billion. The CDWP approved/recommended these projects mostly related to infrastructure, ener
Published 22 Oct, 2011 12:00am
Ukraine sees record sunoil exports in 2011-12

Ukraine sees record sunoil exports in 2011-12

Ukraine, the world's biggest exporter of sunoil, is likely to boost sunoil shipments to 2.8 million tonnes in the 2011/12 season (September-August) if there are no trade restrictions, the head of Ukraine's sunoil producers' union Ukroliyaprom said on Tues
Published 22 Oct, 2011 12:00am
No decision on Qadhafi's burial: minister

No decision on Qadhafi's burial: minister

No decision has been taken on when or where the body of Moamer Qadhafi will be buried, Libya's information minister said on Friday, amid lingering question marks over how the ousted despot met his end. "No decision has been taken on the subject of Qadhafi
Published 22 Oct, 2011 12:00am
Rates stable on grain market

Rates stable on grain market

Rates were stable on the wholesale grain and seed market on Friday as almost all the participants were busy in preparations for Juma prayers, Grain and Oilseeds Merchant Group's press release said.
Published 22 Oct, 2011 12:00am
No decision on Qadhafi's burial: minister

No decision on Qadhafi's burial: minister

No decision has been taken on when or where the body of Moamer Qadhafi will be buried, Libya's information minister said on Friday, amid lingering question marks over how the ousted despot met his end. "No decision has been taken on the subject of Qadhafi
Published 22 Oct, 2011 12:00am
Filmnomics

Filmnomics

Probably after more than a decade I found myself sitting in a cinema hall in Pakistan, correction a Cineplex. The experience was nostalgic and most enjoyable and as a family, baring exam preparation, we are looking forward to at least a monthly visit to t
Published 22 Oct, 2011 12:00am
KARACHI CHRONICLE: Moenjodaro ruins in ruins

KARACHI CHRONICLE: Moenjodaro ruins in ruins

At the national conference on Moenjodaro, organised by UNESCO and Sindh culture department in Karachi last Saturday, all participants expressed concern at the continual deterioration of the most famous site of the 5,000-year-old Indus Valley Civilisation.
Published 22 Oct, 2011 12:00am
LITERARY NOTES: Doha Literary Festival

LITERARY NOTES: Doha Literary Festival

The 15th Majlis-i-Faroogh-i-Urdu Adab Award and Mushaira ceremonies were held in Doha, Qatar, in a grand manner last week. Doha is becoming an important cultural centre for Arabic, English, Urdu and other South Indian languages and hardly any day passes w
Published 22 Oct, 2011 12:00am
MONUMENTS ON WHEELS

MONUMENTS ON WHEELS

The buzz is probably not true but just a joke that the Oil tankers parked in a maze around the hospital in Clifton which belongs to the family of the Minister for Petroleum, Dr Asim Husain, are there because of the good doctor's two predilections, medicin
Published 22 Oct, 2011 12:00am
Indigenised vehicle parts import: three-year relief for new entrants

Indigenised vehicle parts import: three-year relief for new entrants

The Federal Government has decided to waive the levy of additional customs duty on import of Indigenised parts of vehicles manufactured by new entrants for three years as per Auto Industry Development Plan (AIDP), official sources told Business Recorde
Published 22 Oct, 2011 12:00am
ART FACTS: Classic and romantic

ART FACTS: Classic and romantic

Khalid Saeed Butt's miniature paintings explore the poetic and romantic sense of young individuals. His work depicts various moods and experiences that young lovers undergoes both go through the same circumstances and behave in a peculiar way while facing
Published 22 Oct, 2011 12:00am
Indigenised vehicle parts import: three-year relief for new entrants

Indigenised vehicle parts import: three-year relief for new entrants

The Federal Government has decided to waive the levy of additional customs duty on import of Indigenised parts of vehicles manufactured by new entrants for three years as per Auto Industry Development Plan (AIDP), official sources told Business Recorde
Published 22 Oct, 2011 12:00am
A tension-ridden society

A tension-ridden society

These days, Karachiites wish for just one thing - to live without the fear of violence, terrorism and acts of target killings. However, this wish remains far from being fulfilled since bloodshed and terror is the order of the day in the city. Rapid increa
Published 22 Oct, 2011 12:00am
Indigenised vehicle parts import: three-year relief for new entrants

Indigenised vehicle parts import: three-year relief for new entrants

The Federal Government has decided to waive the levy of additional customs duty on import of Indigenised parts of vehicles manufactured by new entrants for three years as per Auto Industry Development Plan (AIDP), official sources told Business Recorde
Published 22 Oct, 2011 12:00am
BRIDGE NOTES: All 13 tricks

BRIDGE NOTES: All 13 tricks

Pairs is in many ways a more difficult form of competitive bridge than a team event. For here the overtrick makes all the difference, not the success or failure of the contract. For being a duplicate game, all players in the same direction holding the ide
Published 22 Oct, 2011 12:00am
Index sheds 160 points

Index sheds 160 points

The KSE-100 index on Friday lost 159.90 points to close at 11,525.25 points due to selling, mainly by local investors. The market witnessed support in early hours on the back of foreign investors' buying, and the index touched 11,714.05 points intra-day h
Published 22 Oct, 2011 12:00am
New York cotton

New York cotton

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

Published 22 Oct, 2011 12:00am
Index sheds 160 points

Index sheds 160 points

The KSE-100 index on Friday lost 159.90 points to close at 11,525.25 points due to selling, mainly by local investors. The market witnessed support in early hours on the back of foreign investors' buying, and the index touched 11,714.05 points intra-day h
Published 22 Oct, 2011 12:00am
New York cotton

New York cotton

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

Published 22 Oct, 2011 12:00am
Index sheds 160 points

Index sheds 160 points

The KSE-100 index on Friday lost 159.90 points to close at 11,525.25 points due to selling, mainly by local investors. The market witnessed support in early hours on the back of foreign investors'' buying, and the index touched 11,714.05 points intra-day
Published 22 Oct, 2011 12:00am
BRIndex30 down 177.26 points

BRIndex30 down 177.26 points

On Friday, the BRIndex30 opened at 9,014.37 points. It touched the intra-day high of 9,031.55 points and low of 8,770.62 points, and closed at 8,837.11 points, with a net negative change of -177.26 points, or -1.97 percent lower than previous close.
Published 22 Oct, 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 22 Oct, 2011 12:00am
BRIndex30 down 177.26 points

BRIndex30 down 177.26 points

On Friday, the BRIndex30 opened at 9,014.37 points. It touched the intra-day high of 9,031.55 points and low of 8,770.62 points, and closed at 8,837.11 points, with a net negative change of -177.26 points, or -1.97 percent lower than previous close.
Published 22 Oct, 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 22 Oct, 2011 12:00am
Getting $800 million from Etisalat still a far cry

Getting $800 million from Etisalat still a far cry

The government is unlikely to receive $800 million, budgeted for the current fiscal year, from Etisalat against privatisation of Pakistan Telecommunication Company (PTCL). The government had budgeted $800 million in the last fiscal year as well on account
Published 22 Oct, 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 Friday (October 21, 2011).

Published 22 Oct, 2011 12:00am
Getting $800 million from Etisalat still a far cry

Getting $800 million from Etisalat still a far cry

The government is unlikely to receive $800 million, budgeted for the current fiscal year, from Etisalat against privatisation of Pakistan Telecommunication Company (PTCL). The government had budgeted $800 million in the last fiscal year as well on account
Published 22 Oct, 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 Friday (October 21, 2011).

Published 22 Oct, 2011 12:00am
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