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Archive - 2011-10-26
South Korean economy grows 0.7pc in Q3
Top News

South Korean economy grows 0.7pc in Q3

SEOUL: South Korea's economy grew 0.7 percent in the third quarter, the central bank said Thursday, slowing down from th
Published 26 Oct, 2011 11:21pm
Key EU debt crisis summit opens
Top News

Key EU debt crisis summit opens

BRUSSELS : A summit of European Union leaders to thrash out a master plan to fix the eurozone debt crisis opened in B
Published 26 Oct, 2011 04:38pm
ISE-10 sheds 26 points
Markets

ISE-10 sheds 26 points

ISLAMABAD : Islamabad Stock Exchange (ISE-10) on Wednesday witnessed bearish as the index fell to 26.32 points to clos
Published 26 Oct, 2011 03:29pm
Soyem of Begum Nusrat Bhutto held
Top News

Soyem of Begum Nusrat Bhutto held

GARHI KHUDA BAKHSH: The soyem of 'Madar-e-Jamoriat' Begum Nusrat Bhutto, a former chairperson of Pakistan Peoples Party
Published 26 Oct, 2011 02:32pm
LSE sheds 99.67 points
Markets

LSE sheds 99.67 points

LAHORE : Lahore Stock Exchange shed by 99.67 points on Wednesday as LSE-25 index opened with 3190.83 and closed at 309
Published 26 Oct, 2011 01:24pm
Gilani for strengthening Pak-Qatar ties
Top News

Gilani for strengthening Pak-Qatar ties

ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani on Wednesday said that Pakistan attached great importance to its relati
Published 26 Oct, 2011 10:51am
Gilani for strengthening Pak-Qatar ties
Top News

Gilani for strengthening Pak-Qatar ties

ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani on Wednesday said that Pakistan attached great importance to its relati
Published 26 Oct, 2011 10:51am
Exports of petroleum, coal surge 38.59pc
Top News

Exports of petroleum, coal surge 38.59pc

ISLAMABAD: The export of petroleum and coal products increased by 38.59 per cent during first quarter of the current yea
Published 26 Oct, 2011 10:05am
SBP governor explains 150bps rate cut
Top News

SBP governor explains 150bps rate cut

RECORDER REPORT KARACHI: Days before Yaseen Anwar took oath as Governor, State Bank of Pakistan; the central bank sla
Published 26 Oct, 2011 07:22am
Index sheds 7.96 points
Markets

Index sheds 7.96 points

RECORDER REPORT KARACHI: After witnessing a mixed trend on Tuesday, the KSE-100 index closed at 11,517.29 points, dow
Published 26 Oct, 2011 07:19am
PPL ticks all the right boxes
BR Research

PPL ticks all the right boxes

Increased prices, improved production and higher profits are all what Pakistan Petroleum Limited has been about of late. The FY12 began on t
Published 26 Oct, 2011 12:00am
Excise department seals Meera's house

Excise department seals Meera's house

The Excise and Taxation department on Tuesday sealed the house of renowned actress Meera over non-payment of property tax. According to the department, the actress was a defaulter of Rs 107,000 and she failed to pay the tax despite many notices. It said t
Published 26 Oct, 2011 12:00am
Decisive movement launched to get rid of present government: PML-N

Decisive movement launched to get rid of present government: PML-N

Pakistan Muslim League-Nawaz senior leader Khawaja Saad Rafique on Tuesday said that decisive movement has been launched to get rid of present inapt government which gave nothing to the people except high inflation, worst economic deprivation, rampant cor
Published 26 Oct, 2011 12:00am
Intermediate Part-I: chief minister orders to recheck exams results

Intermediate Part-I: chief minister orders to recheck exams results

Punjab Chief Minister Shahbaz Sharif has ordered rechecking of intermediate Part-I examination results of Intermediate and Secondary Education, and Higher Education Department has issued instructions to the chairmen of all the eight boards of education to
Published 26 Oct, 2011 12:00am
'AHL committed to developing motorcycle industry'

'AHL committed to developing motorcycle industry'

Atlas Honda Limited (AHL) is fully committed to development of local motorcycle industry by supporting local auto part manufacturers to move towards 100 percent localisation. AHL General Manager Research, Development and Projects Afaq Ahmad stated this wh
Published 26 Oct, 2011 12:00am
Railway's pensioners hold demonstration

Railway's pensioners hold demonstration

Pakistan Railways pensioners held protest demonstration on Tuesday outside Railways' Headquarters, as they could not get their pensions because Rs 10 million cheque was dishonoured. Pensioners, as usual, visited the National Bank Headquarter branch in the
Published 26 Oct, 2011 12:00am
Lawyers offer Ghayabana Namaz-e-Janaza of Qadhafi

Lawyers offer Ghayabana Namaz-e-Janaza of Qadhafi

Dozens of lawyers of the Lahore High Court Bar Association (LHCBA) on Tuesday offered Ghayabana Nimaze Jinaza of Libyan leader, Muammar Qadhafi. The Nimaze Jinnaza was offered at the GPO chowk outside the LHCBA premises on the call of Raja Zulqurnain, for
Published 26 Oct, 2011 12:00am
Tribute paid to Professor Shahid Hussian

Tribute paid to Professor Shahid Hussian

The GC University Lahore Philosophy Department has organised a condolence reference in the memory of the late Professor Shahid Hussian, a renowned philosopher and prolific writer, and paid tribute to the commendable services that he rendered during his 40
Published 26 Oct, 2011 12:00am
Dutch government extends support to automotive vendors

Dutch government extends support to automotive vendors

CBI, the Dutch Centre for Promotion of Imports from developing nations, a department of the Netherlands Ministry of Foreign Affairs, has initiated a new 'Export Coaching Program' for Pakistan's Engineering Sector, which is open to all businesses engaged i
Published 26 Oct, 2011 12:00am
FCCI, LCCI slam SNGPL's gas load management plan

FCCI, LCCI slam SNGPL's gas load management plan

The Lahore and Faisalasbad Chambers of Commerce and Industry on Tuesday criticised Sui Northern Gas Pipeline Limited (SNGPL)'s new Gas Load Management Plan terming it an Industry Closure Plan. The office bearers of both the chambers said that because of t
Published 26 Oct, 2011 12:00am
PPMA clarification

PPMA clarification

We refer to a news item 'PPMA opposes granting MFN status to India', published in your esteemed newspaper on 21st October 2011. The news mentioned Asad Shuja Rehman as chairman of PPMA. The factual situation is that effective from October 1, 2011; the PPM
Published 26 Oct, 2011 12:00am
Taliban release video of Swiss couple abducted

Taliban release video of Swiss couple abducted

The Taliban on Tuesday released a video of a Swiss couple abducted nearly four months ago in Balochistan. Olivier David Och, 31, and Daniela Widmer, 28, were seized by gunmen on July 1 in Loralai district after entering Pakistan from India, and planning t
Published 26 Oct, 2011 12:00am
SECP publishes guide for companies' listing through IPOs

SECP publishes guide for companies' listing through IPOs

As a part of its developmental efforts, the Securities and Exchange Commission of Pakistan (SECP) has published a guidebook titled "Guide for Listing of Companies through Initial Public Offerings (IPOs)". "It is aimed at facilitating the issuers and their
Published 26 Oct, 2011 12:00am
'Government providing relief to rain-hit people'

'Government providing relief to rain-hit people'

Director General Health Services, Sindh has said that government would continue to provide health facilities to hundreds of thousands of people affected due to heavy monsoon rains in Sindh. He informed that up till now, 148,963,6 patients have been treate
Published 26 Oct, 2011 12:00am
PAF to spend $49 million on F-16 fleet mid-life upgradation

PAF to spend $49 million on F-16 fleet mid-life upgradation

Pakistan Air Force will spend $49 million on mid-life upgradation of its F-16 fleet with Advanced Integrated Defensive Electronic Warfare System (AIDEWS) under the Foreign Military Financing (FMF), according to defence sources.
Published 26 Oct, 2011 12:00am
Energy conservation: trading community rejects measures

Energy conservation: trading community rejects measures

The trading community of the capital on Tuesday rejected the measures aimed at energy conservation and increase in tax collection, which would have negative implications on the economy. Speaking at a hurriedly called meeting, Malik Sagheer Ahmed, Chairman
Published 26 Oct, 2011 12:00am
Workshop pinpoints weaknesses in execution appraisal of projects

Workshop pinpoints weaknesses in execution appraisal of projects

Participants at Economic Appraisal training workshop have underscored the weakness and irritants in execution appraisal of projects and discussed different methodologies and paradigms for gaining economic and social impacts through the appraisal of projec
Published 26 Oct, 2011 12:00am
Six alleged target killers arrested in Karachi

Six alleged target killers arrested in Karachi

Sindh police on Tuesday claimed to have arrested six target killers including an alleged member of Lyari gangsters in separate raids at various parts of the metropolis. According to police, an Anti Extremist Cell (AEC) of Sindh police have arrested five s
Published 26 Oct, 2011 12:00am
Another bank heist of Rs 5.2 million

Another bank heist of Rs 5.2 million

A gang of armed robber on Tuesday looted Rs 5.2 million from a private bank in broad daylight in the limits of Rizvia police station. According to police, at around 9:25am, some five to six unidentified robbers entered in a private bank located at Sanitar
Published 26 Oct, 2011 12:00am
Investigation wings reactivated again

Investigation wings reactivated again

Sindh police after amending Police Rule 1861 has again reactivated separate investigation wings at all three zones. According to sources, the investigation and operation departments, which worked separately in Police Order, 2002, were merged after the res
Published 26 Oct, 2011 12:00am
ECP restores membership of 19 parliamentarians

ECP restores membership of 19 parliamentarians

The Election Commission of Pakistan (ECP) on Tuesday restored membership of 19 parliamentarians following submission of statements of assets. In a statement, the ECP said that it received 19 statements of assets from the federal ministers, senators, parli
Published 26 Oct, 2011 12:00am
Shariah-compliant financing: Intel, Meezan Bank join hands

Shariah-compliant financing: Intel, Meezan Bank join hands

Intel Pakistan and Meezan Bank have joined hands to offer one-stop Shariah-compliant financing for consumers who purchase Hewlett-Packard laptop computers based on Intel second generation core processors through Meezan Bank's Laptop Financing Scheme.
Published 26 Oct, 2011 12:00am
AOTS to impart hi-tech training to workforce

AOTS to impart hi-tech training to workforce

The Association of Overseas Technical Scholarship (AOTS) Japan in collaboration with the Ministry of Industries will impart hi-tech training to the skilled and unskilled workforce in the fields of manufacturing, energy, environment, agriculture, industry,
Published 26 Oct, 2011 12:00am
Consistency in policy vital to improve economic conditions: Sartaj

Consistency in policy vital to improve economic conditions: Sartaj

There is no single economic growth model that has been consistently followed by Pakistan over time, former Finance Minister Sartaj Aziz revealed to this correspondent. Political uncertainty in the country can be declared, as one of the main causes that ha
Published 26 Oct, 2011 12:00am
Three outlaws arrested

Three outlaws arrested

Police has nabbed three criminals for their alleged involvement in looting mobile phones and other valuables from the house of a French diplomat in sector F-7/4 Islamabad on Tuesday. A Police spokesman said that in the absence of third secretary of French
Published 26 Oct, 2011 12:00am
Profit after tax of Kapco declines

Profit after tax of Kapco declines

The profit after tax of Kot Addu Power Company (Kapco) has declined to Rs 1.197 billion in the quarter ended September 30, 2011 as compared to Rs 2.037 billion earned in the corresponding period in 2010. The board of directors of the company in its meetin
Published 26 Oct, 2011 12:00am
Profit after tax of Kapco declines

Profit after tax of Kapco declines

The profit after tax of Kot Addu Power Company (Kapco) has declined to Rs 1.197 billion in the quarter ended September 30, 2011 as compared to Rs 2.037 billion earned in the corresponding period in 2010. The board of directors of the company in its meetin
Published 26 Oct, 2011 12:00am
Nishat Power profit after tax rises to Rs 430.63 million

Nishat Power profit after tax rises to Rs 430.63 million

The profit after tax of Nishat Power Limited rose to Rs 430.635 million in the quarter ended September 30, 2011 as compared to Rs 55.365 million in the same quarter in 2010. The board of directors of the company in its meeting held on Tuesday declared tha
Published 26 Oct, 2011 12:00am
Nishat Power profit after tax rises to Rs 430.63 million

Nishat Power profit after tax rises to Rs 430.63 million

The profit after tax of Nishat Power Limited rose to Rs 430.635 million in the quarter ended September 30, 2011 as compared to Rs 55.365 million in the same quarter in 2010. The board of directors of the company in its meeting held on Tuesday declared tha
Published 26 Oct, 2011 12:00am
IMC's profit after tax rises

IMC's profit after tax rises

The profit after tax of Indus Motor Company (IMC) has increased to Rs 937.484 million in the quarter ended September 30, 2011 as compared to Rs 577.409 million earned in the corresponding period in 2010. The board of directors of the company in its meetin
Published 26 Oct, 2011 12:00am
IMC's profit after tax rises

IMC's profit after tax rises

The profit after tax of Indus Motor Company (IMC) has increased to Rs 937.484 million in the quarter ended September 30, 2011 as compared to Rs 577.409 million earned in the corresponding period in 2010. The board of directors of the company in its meetin
Published 26 Oct, 2011 12:00am
Notification

Notification

The controller of examinations University of Sindh has announced on Tuesday that college side annual examination of 2011 of candidates of B.A part-I and II of regular and external candidates, B.Sc, B.Com, B.Sc Home Economics part-I and II examination of r
Published 26 Oct, 2011 12:00am
Five more persons fall prey to targeted killings

Five more persons fall prey to targeted killings

Five more persons were killed in the incidents of targeted killings in various areas of the city on Tuesday. According to police, two bullet-riddled bodies were found in an empty plot located in Hassan Barohi Goth in the limits of Surjani police station.
Published 26 Oct, 2011 12:00am
Lucky Cement donates relief goods to 6,000 affected families

Lucky Cement donates relief goods to 6,000 affected families

Lucky Cement, Pakistan's largest cement manufacturer, has donated generously for the relief of displaced people affected by the recent floods in Sindh. In a relief operation, the Company catered to the needs of 6,000 affected families in areas like Omer K
Published 26 Oct, 2011 12:00am
Profit after tax of PPL increases to Rs 9.886 billion

Profit after tax of PPL increases to Rs 9.886 billion

The profit after tax of Pakistan Petroleum Limited (PPL) has increased to Rs 9.886 billion in the quarter ended September 30, 2011 as compared to Rs 7.789 billion earned in the corresponding period in 2010. The board of directors of the company in its mee
Published 26 Oct, 2011 12:00am
Profit after tax of PPL increases to Rs 9.886 billion

Profit after tax of PPL increases to Rs 9.886 billion

The profit after tax of Pakistan Petroleum Limited (PPL) has increased to Rs 9.886 billion in the quarter ended September 30, 2011 as compared to Rs 7.789 billion earned in the corresponding period in 2010. The board of directors of the company in its mee
Published 26 Oct, 2011 12:00am
DG Khan Cement's profit after tax increases

DG Khan Cement's profit after tax increases

The profit after tax of DG Khan Cement has increased to Rs 317.749 million in the quarter ended September 30, 2011 as compared to Rs 22.146 million earned in the corresponding period in 2010. The board of directors of the company in its meeting held on Oc
Published 26 Oct, 2011 12:00am
DG Khan Cement's profit after tax increases

DG Khan Cement's profit after tax increases

The profit after tax of DG Khan Cement has increased to Rs 317.749 million in the quarter ended September 30, 2011 as compared to Rs 22.146 million earned in the corresponding period in 2010. The board of directors of the company in its meeting held on Oc
Published 26 Oct, 2011 12:00am
Bank Alfalah's profit after tax increases

Bank Alfalah's profit after tax increases

The profit after tax of Bank Alfalah has increased to Rs 3.001 billion in the nine month period ended September 30, 2011 as compared to Rs 1.501 billion earned in the corresponding period in 2010. The board of directors of the bank in its meeting held on
Published 26 Oct, 2011 12:00am
Bank Alfalah's profit after tax increases

Bank Alfalah's profit after tax increases

The profit after tax of Bank Alfalah has increased to Rs 3.001 billion in the nine month period ended September 30, 2011 as compared to Rs 1.501 billion earned in the corresponding period in 2010. The board of directors of the bank in its meeting held on
Published 26 Oct, 2011 12:00am
Industrialists mulling moving out of Pakistan: SAI chief

Industrialists mulling moving out of Pakistan: SAI chief

Industrialists and businessmen are unwillingly thinking to move out of Pakistan due to prevailing law and order situation, high cost of doing business and ever increasing tariffs of power, gas and water. Talking to Business Recorder, Chairman, Site Associ
Published 26 Oct, 2011 12:00am
JPMC charging patients for Hepatitis tests

JPMC charging patients for Hepatitis tests

The Jinnah Postgraduate Medical Centre (JPMC) is charging fee from patients, who visit the facility for Hepatitis B and C tests, despite the fact that the provincial government-run health facilities offering the tests free of cost, Business Recorder </
Published 26 Oct, 2011 12:00am
Polio eradication campaign begins

Polio eradication campaign begins

More polio cases have been reported in the city if compared to previous year which showed that the last 108 polio eradication campaigns were not proved successful, told DCO Karachi Roshan Ali Shaikh on Tuesday In this regard, he said that 109th Polio Erad
Published 26 Oct, 2011 12:00am
Workshop on investigative journalism held

Workshop on investigative journalism held

Peshawar Press Club, Khyber Union of Journalists and Mishal Pakistan, a strategic communication policy design social enterprise in collaboration with the Center for International Media Ethics, Zigron Training, Center for Investigative Journalists in Bosni
Published 26 Oct, 2011 12:00am
Kharadar Hospital celebrates platinum jubilee

Kharadar Hospital celebrates platinum jubilee

On completion of 75 years Kharadar General Hospital celebrated platinum jubilee and organised free camp to provide more facilities to patient. The camp was inaugurated by Dr Farah Naz, head of Obs/Gynae department. Hospital President, Muhammad Bashir Jan
Published 26 Oct, 2011 12:00am
Balochistan Assembly pays tributes to Begum Nusrat

Balochistan Assembly pays tributes to Begum Nusrat

The legislatures of the Balochistan Assembly in Tuesday session unanimously passed resolution paying rich tributes to late Begum Nusrat Bhutto for her services for the cause of democracy. The assembly session started with Deputy Speaker Syed Matiullah Agh
Published 26 Oct, 2011 12:00am
Ambassadors, diplomats express condolences

Ambassadors, diplomats express condolences

Scores of ambassadors, diplomats and members stationed here visited the presidency Tuesday to express their condolences by recording their remarks on behalf of their governments and the people of their respective countries on the demise of former First La
Published 26 Oct, 2011 12:00am
China condoles death

China condoles death

China on Tuesday while expressing deep condolence on the sad demise of Begum Nusrat Bhutto, said that the former first lady of Pakistan had made significant contribution towards China, Pakistan relations. Chinese Foreign Ministry spokeswoman Jiang Yu in a
Published 26 Oct, 2011 12:00am
Steps to reduce tax gap: policy group actively analysing reports

Steps to reduce tax gap: policy group actively analysing reports

The Tax Policy Group of the Tax Reform Co-ordination Group (TRCG) is actively analysing the reports on the tax gap in Pakistan with the mandate to suggest taxation measures to considerably reduce the gap between the tax potential and actual payment of tax
Published 26 Oct, 2011 12:00am
FBR Member IR submits his tax return along with Annex-D

FBR Member IR submits his tax return along with Annex-D

Federal Board of Revenue Member Inland Revenue Shahid Hussain Asad has submitted his income tax return form along with Annex-D to give details of personal expenditure for Tax Year 2011. It is learnt here on Tuesday that the FBR Member Inland Revenue and D
Published 26 Oct, 2011 12:00am
Siddiqsons' denim products bag Rs 500 million orders

Siddiqsons' denim products bag Rs 500 million orders

The denim products of Siddiqsons have attracted orders worth Rs 500 million from a large number of foreign buyers from various countries at Pakistan Expo 2011, this was stated by Tariq Rafi, Chief Executive Siddiqsons Limited, in a statement issued here o
Published 26 Oct, 2011 12:00am
Nusrat Bhutto's Soyem at People's secretariat today

Nusrat Bhutto's Soyem at People's secretariat today

Soyem of Begum Nusrat Bhutto would be held today (Wednesday) at People's Secretariat. A large number of party workers participated in the condolence camp set up at the Secretariat on the second day of the death of former PPP chairwomen Begum Nusrat Bhutto
Published 26 Oct, 2011 12:00am
Quran Khwani for late Nusrat Bhutto held

Quran Khwani for late Nusrat Bhutto held

Quran Khawni was held at the President's Secretariat and in the mosques of Aiwan-e-Sadr for Eisal-e-Sawab of former First Lady late Ms Begum Nusrat Bhutto who breathed her last in Dubai on Sunday. Senior officers and staff of President's Secretariat parti
Published 26 Oct, 2011 12:00am
Ghaibana Namaz-e-Janaza offered

Ghaibana Namaz-e-Janaza offered

A large number of leaders and workers of various political parties on Tuesday offered ghaibana Namaz-e-Janaza for Begum Nusrat Bhutto, ex-chairperson of PPP. Makhdoom Javed Hashmi MNA, Allah Nawaz Khan Durrani, Shahid Mukhtar Lodhi, Munir Akhtar Langah of
Published 26 Oct, 2011 12:00am
Sanam visits Bhuttos' mausoleum

Sanam visits Bhuttos' mausoleum

Sanam Bhutto, the younger daughter of the Founder Chairman of PPP Shaheed Zulfikar Ali Bhutto and Younger Sister of Shaheed Benazir Bhutto along with Bakhtawar Bhutto Zardari, visited the graves of the martyrs of Bhutto's family in Garhi Khuda Bakhsh on T
Published 26 Oct, 2011 12:00am
WHT on cash from banks: exchange companies demand exemption

WHT on cash from banks: exchange companies demand exemption

The exchange companies have urged the government to exempt them from 0.3 percent withholding tax on cash withdrawals from banks, it is learnt. Sources said that President Asif Ali Zardari, who has been holding meetings with banks and exchange companies to
Published 26 Oct, 2011 12:00am
PIA seeks CCoR help to resolve issues of outstanding taxes

PIA seeks CCoR help to resolve issues of outstanding taxes

The management of PIA has requested the Cabinet Committee on Restructuring (CCoR) for assistance in resolving all outstanding issues related to turnover tax, sales tax at import stage and federal excise duty (FED) to minimise the tax burden on national fl
Published 26 Oct, 2011 12:00am
QAU inaugurates SPIR

QAU inaugurates SPIR

Quaid-i-Azam University (QAU) has inaugurated its new School of Politics and International Relations (SPIR) here on Tuesday. While addressing the inauguration ceremony QAU Vice-Chancellor Professor Dr Masoom Yasinzai praised the Strategic Plans Division (
Published 26 Oct, 2011 12:00am
Masud Muzaffar appointed IFAC's board member

Masud Muzaffar appointed IFAC's board member

National Council Member of the Institute of Cost and Management Accountants of Pakistan (ICMAP) Masud Muzaffar has been appointed as member of International Public Sector Accounting Standards Board of International Federation of Accountants (IFAC) for the
Published 26 Oct, 2011 12:00am
PIA employees urged to facilitate Hujjaj with zeal

PIA employees urged to facilitate Hujjaj with zeal

Managing Director PIA, Nadeem Khan Yousufzai has impressed upon PIA employees to work with full zeal and dedication and provide maximum facilitation to Hujjaj, here on Tuesday, while briefing the employees posted on duties for carrying out Hajj operation
Published 26 Oct, 2011 12:00am
Sindh government fails to initiate aquaculture, shrimp farming project

Sindh government fails to initiate aquaculture, shrimp farming project

Sindh government has failed to initiate work on the Aqua culture and Shrimp farming project despite passage of more than one year, Business Recorder learnt on Tuesday. The Sindh Fisheries department had identified 20 thousand acres land in coastal
Published 26 Oct, 2011 12:00am
Turkey donates ambulance for flood victims

Turkey donates ambulance for flood victims

Turkey will always stand by Pakistan in its hour of need or whenever the Pakistani people call for Turkey's assistance. These sentiments were expressed by Turkish Consul General, Murat M. Onart at a simple ceremony to hand over an ambulance to Sindh gover
Published 26 Oct, 2011 12:00am
Schneider energy university registers 73 percent growth

Schneider energy university registers 73 percent growth

Schneider Electric, the global specialist in energy management, Tuesday announced it reached an impressive 46,868 new-user registrations since January 2011 with over six percent from the Gulf region for its Energy University, a vendor-neutral, online educ
Published 26 Oct, 2011 12:00am
Pakistan elected to FIATA Presidency

Pakistan elected to FIATA Presidency

Bubar Badat, former Chairman of Pakistan's logistics association PIFFA was elected to the presidency of FIATA in the General Meeting held in Cairo during the Global Congress, according to a press release issued by FIATA Tuesday. He has been a VP & Board m
Published 26 Oct, 2011 12:00am
UK seeks to increase bilateral trade volume

UK seeks to increase bilateral trade volume

The United Kingdom wants to increase its trade volume to the tune of pounds 2.5 billion from current pounds 1.5 billion to Pakistan by 2015. "We have presence of 100 companies and their branded commodities on sale in Pakistan at present," said Francis Cam
Published 26 Oct, 2011 12:00am
Tribute paid to Nusrat Bhutto

Tribute paid to Nusrat Bhutto

Vice Chancellor, University of Sindh, Dr Nazir A. Mughal has expressed deep grief and sorrow over the sad demise of Begum Nusrat Bhutto. Paying rich tribute to Begum Nusrat Bhutto for restoration of democracy, Dr Mughal said that Begum Bhutto played a his
Published 26 Oct, 2011 12:00am
25 companies win Global HR Excellence Awards

25 companies win Global HR Excellence Awards

As many as 25 renowned companies were conferred the coveted 2nd Global HR Excellence Awards-2011 at a splendid award ceremony attended by a glitterati of renowned Chairmen, CEOs, HR heads of public and private sectors. The Global Media Links and Business
Published 26 Oct, 2011 12:00am
US MIDDAY: gold rises three percent

US MIDDAY: gold rises three percent

Gold prices surged back to life on Tuesday, extending a three-day rally to top $1,700 an ounce for the first time in a month as eurozone jitters and gloomy US consumer data rekindled a dormant safe-haven bid. After several months of trading largely in syn
Published 26 Oct, 2011 12:00am
US MIDDAY: copper slips

US MIDDAY: copper slips

A surprisingly strong two-day copper rally ground to a halt on Tuesday as fresh doubts set in about Europe's ability to find a solution to its debt crisis by a Wednesday summit. A summit of European leaders remains scheduled for Wednesday, but the gatheri
Published 26 Oct, 2011 12:00am
US MIDDAY: soya, corn rally

US MIDDAY: soya, corn rally

US soyabeans and corn turned higher in choppy trade on Tuesday, following strength in crude oil and gold as the US dollar pared gains. But uncertainty over the European Union's efforts to resolve its debt crisis hung over the market, keeping traders on ed
Published 26 Oct, 2011 12:00am
Gold surges in Europe

Gold surges in Europe

Gold rallied sharply on Tuesday after data showed US consumers were at their gloomiest in 2-1/2 years this month, which undermined the dollar and fed safe-haven demand for bullion. Earlier, a European Union spokesman said a meeting of finance ministers on
Published 26 Oct, 2011 12:00am
US gold rises

US gold rises

Gold gained around 1 percent on Monday, moving in line with riskier assets rather than safe havens, boosted by hopes that European leaders were tackling the region's debt crisis and signs of resiliency over China's economy. Spot gold was up 0.9 percent at
Published 26 Oct, 2011 12:00am
Arabica coffee tumbles

Arabica coffee tumbles

Arabica coffee slumped nearly 6 percent on Tuesday, its biggest tumble in two months, on talk that Hurricane Rina missed key growing areas in Central America and as some investors grew nervous ahead of an EU summit. Sugar finished mixed while cocoa was up
Published 26 Oct, 2011 12:00am
Soyabeans and wheat rise

Soyabeans and wheat rise

US soyabeans rallied 1.2 percent on Monday, spurred by strong manufacturing data in China, the world's largest importer of soyabeans. Corn ended firm and above a key 200-day moving average support level, a bullish signal, but well below the day's highs as
Published 26 Oct, 2011 12:00am
Palm oil rises

Palm oil rises

Malaysian palm oil futures rose to a near one-month high on Tuesday, buoyed by export data and expectations of lower output, with additional support from optimism over a possible solution to the eurozone's debt problems. Uncertainty about just how close E
Published 26 Oct, 2011 12:00am
Tokyo, Shanghai rubber soar

Tokyo, Shanghai rubber soar

Key TOCOM rubber futures ended slightly higher on Tuesday, after the Shanghai market hit its upper limit, though Europe's economic woes and Thailand's floods are clouding the outlook for demand. The key Tokyo Commodity Exchange rubber contract for March d
Published 26 Oct, 2011 12:00am
US oil hits 12-week high as Brent spread deflates

US oil hits 12-week high as Brent spread deflates

US oil prices shot up to a 12-week high on Tuesday in a second day of frenetic spread trading, with dealers racing to claw back a record discount versus Europe's Brent as they gave in to evidence of tightening supplies.
Published 26 Oct, 2011 12:00am
Copper declines

Copper declines

Copper prices fell on Tuesday as demand prospects dimmed due to diminishing hopes that a planned summit would provide a solution to Europe's debt crisis after Germany said it was unhappy with aspects of the draft deal and EU finance ministers cancelled a
Published 26 Oct, 2011 12:00am
Shanghai copper surges

Shanghai copper surges

London copper rose to its highest in a month and Shanghai futures surged by their daily limit for second day on Tuesday on optimism that European leaders are moving closer to solving the region's debt woes, boosting hopes demand may recover. In Shanghai,
Published 26 Oct, 2011 12:00am
US copper extends rally

US copper extends rally

Copper shot higher for a second-straight day on Monday, surging 7 percent to its priciest in nearly a month, after encouraging data from top consumer China and hopes for a eurozone debt deal boosted investor confidence. Copper's gains fed through to the b
Published 26 Oct, 2011 12:00am
New York cotton settles higher

New York cotton settles higher

Cotton futures settled higher Tuesday on investor short-covering as the market climbed for the third straight session after sinking last week to a 14-month low, analysts said. The key December cotton contract on ICE Futures US rose 1.74 cents to end at 99
Published 26 Oct, 2011 12:00am
ALLIED BANK LIMITED

ALLIED BANK LIMITED

Allied bank Ltd (ABL) is the fifth largest commercial bank by the deposit size in Pakistan. ABL provides range of banking facilities with focus on five business segments such as corporate finance, retail banking, trading and sales, payment and settlement
Published 26 Oct, 2011 12:00am
ALLIED BANK LIMITED

ALLIED BANK LIMITED

Allied bank Ltd (ABL) is the fifth largest commercial bank by the deposit size in Pakistan. ABL provides range of banking facilities with focus on five business segments such as corporate finance, retail banking, trading and sales, payment and settlement
Published 26 Oct, 2011 12:00am
LG Ordinance: SHC issues notices to centre, Sindh government

LG Ordinance: SHC issues notices to centre, Sindh government

Sindh High Court (SHC) Circuit Bench Hyderabad issued notices to the federal and Sindh governments on a petition challenging the local government ordinance, promulgated by the Sindh Governor in August last. The bench comprising Justice Muhammad Tasleem an
Published 26 Oct, 2011 12:00am
Sahir Ludhianvi remembered

Sahir Ludhianvi remembered

Famous Urdu poet and lyricist and songwriter Sahir Ludhianvi's 31sth death anniversary was observed on Tuesday. Sahir Ludhianvi was born as Abdul Hayee on 8 March 1921 in Ludhiana, Punjab in India. For about 30 years, he remained associated with the film
Published 26 Oct, 2011 12:00am
Lecture on 'Sufism in Pakistan' organised

Lecture on 'Sufism in Pakistan' organised

Punjab University Department of French organised a lecture on "Sufism in Pakistan" here at the Department on Tuesday. In charge of the Department Dr Saleha Nazir, faculty members and a large number of students were present on the occasion.
Published 26 Oct, 2011 12:00am
US rejects Russia visa blacklist

US rejects Russia visa blacklist

The United States on Tuesday criticised Russia's step to bar high-ranking US officials in a tit-for-tat blacklist, saying that Washington had an obligation to act on human rights concerns. Russia on Saturday issued a list of US officials who would not be
Published 26 Oct, 2011 12:00am
Seat on first 787 Dreamliner sells for $34,000

Seat on first 787 Dreamliner sells for $34,000

A single seat on the first commercial flight of Boeing's new 787 Dreamliner has been bought for more than $34,000 in a charity sale organised by Japan's ANA, the company said Tuesday. The airline auctioned six business class seats on the plane's inaugural
Published 26 Oct, 2011 12:00am
Saudi Arabia buries Crown Prince Sultan

Saudi Arabia buries Crown Prince Sultan

The funeral of Saudi Arabia's Crown Prince Sultan on Tuesday set the stage for King Abdullah to name a new heir, widely expected to be veteran Interior Minister Prince Nayef, a choice that would emphasise stability in the world's top oil exporter.
Published 26 Oct, 2011 12:00am
Thailand calls holiday to allow escape from floods

Thailand calls holiday to allow escape from floods

Thailand announced a five-day holiday on Tuesday to give people the chance to escape floods closing in on Bangkok as the prime minister warned that the capital could face an inundation of 1.5 metres (nearly five feet) of water if barriers collapsed.
Published 26 Oct, 2011 12:00am
Japan offers extra loans

Japan offers extra loans

Japan offered on Tuesday extra loans, insurance and a baht cash line to help Japanese companies in flood-ravaged Thailand, signalling growing concerns over the disaster's impact on the world's third biggest economy.
Published 26 Oct, 2011 12:00am
UN condemns US embargo of Cuba for 20th year

UN condemns US embargo of Cuba for 20th year

The UN General Assembly on Tuesday overwhelmingly backed the 20th annual condemnation of the US blockade of Cuba. Amid strong criticism of the United States, the annual resolution was passed by 186 votes to two - the United States and its ally Israel - wi
Published 26 Oct, 2011 12:00am
US indicts Singaporeans, Iranian in alleged bomb plot

US indicts Singaporeans, Iranian in alleged bomb plot

US justice officials on Tuesday charged four Singaporeans and an Iranian with fraudulently exporting radio equipment to Iran for use in roadside bombs in Iraq. At least 16 radio antennas were found in unexploded improvised explosive devices (IEDs) in Iraq
Published 26 Oct, 2011 12:00am
Fuel depot blast in Sirte kills 100

Fuel depot blast in Sirte kills 100

A fuel tank exploded near Muammar Qadhafi's hometown Sirte killing more than 100 people, less than a week after he was captured and killed in the Libyan city, a military chief said Tuesday. "There was an enormous explosion and a huge fire. More than 100 p
Published 26 Oct, 2011 12:00am
Rescuers save baby in Turkey; toll jumps to 432

Rescuers save baby in Turkey; toll jumps to 432

Rescuers pulled a two-week-old baby girl alive from the wreckage of a collapsed apartment block on Tuesday as they battled to find survivors from a earthquake in eastern Turkey that killed at least 432 people and left thousands homeless.
Published 26 Oct, 2011 12:00am
15 dead as Yemen truce collapses

15 dead as Yemen truce collapses

A truce reached by Yemen's government and dissidents, who have been locked in bloody battles for weeks, collapsed as soon as it was announced on Tuesday with fresh fighting rocking the capital. Fifteen people were killed in Sanaa and Taez, most of them in
Published 26 Oct, 2011 12:00am
Jobless voters could desert Obama at election

Jobless voters could desert Obama at election

The slot machines jangle away with the promise of sudden riches, but many visitors to a job fair at a second-tier casino here are hoping merely for a minimum-wage job to snap their losing streak. The grim economy hasn't been the only disappointment of the
Published 26 Oct, 2011 12:00am
Western aid workers kidnapped in Somalia

Western aid workers kidnapped in Somalia

Gunmen kidnapped an American, a Dane and a Somali working for a Danish group which clears landmines in northern Somalia on Tuesday, the second capture of Western aid agency staff in the region this month. "Today, at 3 pm (1200 GMT) in Somalia, three staff
Published 26 Oct, 2011 12:00am
Artificial Intelligence pioneer John McCarthy dies

Artificial Intelligence pioneer John McCarthy dies

John McCarthy, a pioneer of artificial intelligence, has died at the age of 84, the Stanford School of Engineering announced. McCarthy, who died on Sunday, was a professor emeritus in the Department of Computer Science at the Palo Alto, California-based u
Published 26 Oct, 2011 12:00am
Tunisian Islamist party takes lead

Tunisian Islamist party takes lead

Tunisia's Islamist Ennahda party took the lead in early official results Tuesday, with 15 of 39 seats in five polling districts, including the cities of Sousse and Sfax, the ISIE elections body said. The leftist Congress for the Republic (CPR) was in seco
Published 26 Oct, 2011 12:00am
Dominant India whitewash England

Dominant India whitewash England

World champions India brushed aside England by 95 runs in the fifth and final one-day international in Kolkata on Tuesday to sweep the series 5-0. Skipper Mahendra Singh Dhoni smashed an unbeaten 75 off 69 balls to power India to 271-8 after the hosts wer
Published 26 Oct, 2011 12:00am
Waller guides Zimbabwe to thrilling win

Waller guides Zimbabwe to thrilling win

Malcolm Waller hit a single off the fifth ball of the last over to take Zimbabwe to a dramatic one-wicket win in the third and final one-day international against New Zealand at Queens Sports Club on Tuesday. Waller finished on 99 not out off 74 balls as
Published 26 Oct, 2011 12:00am
Dubai Test begins today: Misbah, Dilshan hope for better show

Dubai Test begins today: Misbah, Dilshan hope for better show

Rival captains Tillakaratne Dilshan and Misbah-ul Haq have different concerns going into the second of three Tests between Pakistan and Sri Lanka at Dubai cricket stadium from Wednesday. Dilshan hopes his batsmen pull up their socks and score big in the f
Published 26 Oct, 2011 12:00am
Sunny takes seven wickets in drawn Test

Sunny takes seven wickets in drawn Test

Bangla-desh's Elias Sunny made a memorable seven-wicket debut against the West Indies in the rain-hit opening Test, which ended in a draw on the fifth and final day on Tuesday. The left-arm spinner grabbed 6-94 in the first innings and 1-34 in the second
Published 26 Oct, 2011 12:00am
Dubai Islamic Bank holds annual sports event

Dubai Islamic Bank holds annual sports event

Dubai Islamic Bank Limited organised an annual sports event for 2011 at IBEX Club, Rawal Lake View Park here, says a press released issued on Tuesday. President Duabi Islamic Bank Pakistan Limited, Junaid Ahmed was the chief guest on the occasion. A crick
Published 26 Oct, 2011 12:00am
Most Asian currencies rise

Most Asian currencies rise

Most emerging Asian currencies rose on Tuesday, led by the South Korean won and the Thai baht, on growing confidence Europe can contain its debt crisis and a record-high yuan fix, while some investors booked profit before Wednesday's eurozone summit.
Published 26 Oct, 2011 12:00am
Yuan up after record high mid-point

Yuan up after record high mid-point

The yuan ended up versus the dollar on Tuesday after the People's Bank of China set a record high mid-point ahead of a US congressional hearing on Chinese trade practices. A senior Republican lawmaker announced last week the hearing on trade practices he
Published 26 Oct, 2011 12:00am
Euro scales six-week peak in New York

Euro scales six-week peak in New York

The euro advanced to a six-week peak against the dollar on Monday, as investors grew confident European leaders will come up with a broad agreement to deal with the eurozone's debt crisis at a second summit scheduled for Wednesday. European leaders neared
Published 26 Oct, 2011 12:00am
Early trade in New York: Euro falls from six-week high

Early trade in New York: Euro falls from six-week high

The euro slid from a six-week high on Tuesday after the cancellation of a European finance ministers meeting raised doubts an EU summit would deliver a comprehensive plan to contain the region's debt crisis. With Wednesday's European Union leaders' summit
Published 26 Oct, 2011 12:00am
Indian rupee up

Indian rupee up

The Indian rupee gained on Tuesday, buoyed by positive domestic equities and a steady euro and after the central bank signalled the latest rate increase may be the last in the current cycle, although any reprieve for bonds is seen as temporary given the s
Published 26 Oct, 2011 12:00am
Euro retreats in London

Euro retreats in London

The euro retreated from a six-week high versus the dollar on Tuesday after comments from the German Chancellor tempered market optimism that policymakers will take major steps towards solving the eurozone debt crisis at a summit on Wednesday. Angela Merke
Published 26 Oct, 2011 12:00am
Euro slips in Asia

Euro slips in Asia

The euro edged lower on Tuesday but still held near a six-week high hit the previous day, supported by market expectations for European leaders to come up with broad measures to contain the region's debt crisis at a summit on Wednesday. European leaders h
Published 26 Oct, 2011 12:00am
New Zealand dollar dips, Aussie outperforms

New Zealand dollar dips, Aussie outperforms

The New Zealand dollar dipped on Tuesday as benign inflation argued against an early policy tightening, while the Aussie held firm ahead of Australian figures that could make or break the case for a cut in rates at home. Latest data showed NZ's Q3 consume
Published 26 Oct, 2011 12:00am
Liquidity steady before ECB's 12-month tender

Liquidity steady before ECB's 12-month tender

Eurozone banks maintained high levels of one-week borrowing on Tuesday, before an opportunity to secure one-year cash from the European Central Bank at which take-up is expected to be relatively modest. With slightly more than 200 billion euros of liquidi
Published 26 Oct, 2011 12:00am
Sterling eases versus dollar

Sterling eases versus dollar

Sterling eased from a six-week high against the dollar on Tuesday, as currencies perceived to be riskier came under pressure amid growing uncertainty whether policymakers will take major steps to tackle the eurozone debt crisis. Sterling was marginally hi
Published 26 Oct, 2011 12:00am
Swiss franc flat versus euro

Swiss franc flat versus euro

The Swiss franc was flat against the euro and slightly lower versus the dollar on Tuesday as investors eyed the outcome of a European Union summit and the Swiss National Bank's chairman stated his conviction the franc would weaken. The SNB set a cap on th
Published 26 Oct, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 76.08-76.13 (previous 75.95-76.10). Call Money Rates: 6.50-9.25 percent (previous 6.50-10.00 percent).
Published 26 Oct, 2011 12:00am
FTSE falls as Merkel comments spook investors

FTSE falls as Merkel comments spook investors

Miners and banks retreated as Britain's FTSE 100 fell on Tuesday after comments from the German Chancellor led to concerns over how far European leaders would go to solve the region's debt crisis. Chancellor Angela Merkel, said Germany opposes a phrase in
Published 26 Oct, 2011 12:00am
European shares fall

European shares fall

European shares ended lower on Tuesday, after hitting 11-week highs earlier in the day, on concerns that a European Union summit scheduled for Wednesday might not come up with a bold and comprehensive plan to tackle the region's debt crisis. Germany's Cha
Published 26 Oct, 2011 12:00am
Australian shares pull back

Australian shares pull back

Australian shares fell 0.6 percent on Tuesday, shrugging off a positive lead from overseas markets, as investors remained cautious as they awaited details of a eurozone debt crisis plan. Global miners BHP Billiton and Rio Tinto were the best performers, b
Published 26 Oct, 2011 12:00am
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