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Archive - 2011-12-22
Current account deficit may widen: India
Top News

Current account deficit may widen: India

MUMBAI: India's current account deficit is expected to widen further on the back of higher oil prices and sharp increase
Published 22 Dec, 2011 05:39pm
China inflation expectations down
Top News

China inflation expectations down

BEIJING: Expectations for consumer inflation in China were lower for the first quarter of 2012 versus the fourth quarter
Published 22 Dec, 2011 05:02pm
US consumer sentiment at highest level
Top News

US consumer sentiment at highest level

NEW YORK: US consumer sentiment improved in December to its highest level in six months as Americans felt better about t
Published 22 Dec, 2011 03:37pm
'Space ball' drops on Namibia
Africa

'Space ball' drops on Namibia

WINDHOEK: A large metallic ball fell out of the sky on a remote grassland in Namibia, prompting baffled authorities to c
Published 22 Dec, 2011 03:13pm
Arab League team to Syria
Middle East

Arab League team to Syria

CAIRO: An advance team from the Arab League headed to Syria on Thursday ahead of deploying monitors who will assess whet
Published 22 Dec, 2011 02:37pm
SBP directive on Rs 5 banknote
Top News

SBP directive on Rs 5 banknote

KARACHI: The State Bank of Pakistan (SBP) has directed all commercial banks and the field offices of SBP Banking Service
Published 22 Dec, 2011 02:28pm
Forex reserves slips to $ 16.658bn
Top News

Forex reserves slips to $ 16.658bn

KARACHI: Pakistan's liquid foreign reserves slipped by $ 42 million to $ 16.658 billion on December 16, 2011, on foreign
Published 22 Dec, 2011 02:19pm
Poverty rising in country: Nawaz
Top News

Poverty rising in country: Nawaz

CHISHTIAN: PML-N Presdient Nawaz Sharif has said on Thursday that Pakistan has been pushed to poverty. Addressing a big
Published 22 Dec, 2011 12:36pm
President, PM discuss current situation
Top News

President, PM discuss current situation

ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani called on President Asif Ali Zardari here at the Aiwan-e-Sadr on Thursd
Published 22 Dec, 2011 12:34pm
Rates of commodities
Markets

Rates of commodities

LAHORE: The Agriculture Marketing Information Service Punjab issued rates of agriculture products in local market on Thu
Published 22 Dec, 2011 10:42am
NA session starts
Pakistan

NA session starts

ISLAMABAD: Session of National Assembly started here on Thursday from the recitation of the Holy Quran. Deputy speaker
Published 22 Dec, 2011 06:55am
SBP revises forward cover rules
Top News

SBP revises forward cover rules

RECORDER REPORT KARACHI : The State Bank of Pakistan (SBP) has with immediate effect revised and streamlined the inst
Published 22 Dec, 2011 05:29am
Oil up as US crude stocks fall
Energy

Oil up as US crude stocks fall

SINGAPORE: Oil rose in Asian trade Thursday, boosted by a stronger-than-expected drop in US crude stocks, analysts said.
Published 22 Dec, 2011 05:02am
Hong Kong stocks open lower
Financial

Hong Kong stocks open lower

HONG KONG: Hong Kong stocks opened lower on Thursday despite a move by the European Central Bank to provide cheap loans
Published 22 Dec, 2011 04:59am
Trade mired in tumbling volumes
BR Research

Trade mired in tumbling volumes

Trade statistics released by the FBS for 5MFY12 reiterated the grave scenario of Pakistans trade, particularly exports, with volumetric expo
Published 22 Dec, 2011 12:00am
PSDP: costly and ineffective!
BR Research

PSDP: costly and ineffective!

As per data released by the Planning Commission, between July 1 and December 16, 2011, total federal PSDP (Public Sector Development Program
Published 22 Dec, 2011 12:00am
BoA to pay $335 million for discrimination

BoA to pay $335 million for discrimination

US Attorney General Eric Holder on Wednesday announced a fine of $335 million against Bank of American unit Countrywide over allegations it charged African-Americans and Hispanics more for loans. The Justice Department said around 200,000 qualified Africa
Published 22 Dec, 2011 12:00am
BoA to pay $335 million for discrimination

BoA to pay $335 million for discrimination

US Attorney General Eric Holder on Wednesday announced a fine of $335 million against Bank of American unit Countrywide over allegations it charged African-Americans and Hispanics more for loans. The Justice Department said around 200,000 qualified Africa
Published 22 Dec, 2011 12:00am
Afghanistan runs its first train

Afghanistan runs its first train

Afghanistan ran its first train on Wednesday on a short stretch of track linking the northern city of Mazar-i-Sharif with the Uzbek border, part of an ambitious plan to build a rail network and spur regional trade despite a raging insurgency. The governme
Published 22 Dec, 2011 12:00am
Afghanistan runs its first train

Afghanistan runs its first train

Afghanistan ran its first train on Wednesday on a short stretch of track linking the northern city of Mazar-i-Sharif with the Uzbek border, part of an ambitious plan to build a rail network and spur regional trade despite a raging insurgency. The governme
Published 22 Dec, 2011 12:00am
Afghanistan runs its first train

Afghanistan runs its first train

Afghanistan ran its first train on Wednesday on a short stretch of track linking the northern city of Mazar-i-Sharif with the Uzbek border, part of an ambitious plan to build a rail network and spur regional trade despite a raging insurgency. The governme
Published 22 Dec, 2011 12:00am
Five Nato soldiers killed

Five Nato soldiers killed

Taliban bombers killed five Polish soldiers in an attack on their convoy in Afghanistan on Wednesday, one of the heaviest single losses for Warsaw's Nato contingent in the 10-year war. Poland's news agency PAP cited unnamed government officials as saying
Published 22 Dec, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (December 21, 2011).

Published 22 Dec, 2011 12:00am
Five Nato soldiers killed

Five Nato soldiers killed

Taliban bombers killed five Polish soldiers in an attack on their convoy in Afghanistan on Wednesday, one of the heaviest single losses for Warsaw's Nato contingent in the 10-year war. Poland's news agency PAP cited unnamed government officials as saying
Published 22 Dec, 2011 12:00am
OGDCL clarification

OGDCL clarification

Apropos a news item carried by Business Recorder, (December 21, 2011) regarding appointment of Statutory Auditors by OGDCL in violation of PPRA Rules. It has been clarified as under: Oil +ACY- Gas Development Corporation was established under OGDC
Published 22 Dec, 2011 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Wednesday (December 21, 2011).

Published 22 Dec, 2011 12:00am
OGDCL clarification

OGDCL clarification

Apropos a news item carried by Business Recorder, (December 21, 2011) regarding appointment of Statutory Auditors by OGDCL in violation of PPRA Rules. It has been clarified as under: Oil +ACY- Gas Development Corporation was established under OGDC
Published 22 Dec, 2011 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Wednesday (December 21, 2011).

Published 22 Dec, 2011 12:00am
OGDCL clarification

OGDCL clarification

Apropos a news item carried by Business Recorder, (December 21, 2011) regarding appointment of Statutory Auditors by OGDCL in violation of PPRA Rules. It has been clarified as under: Oil +ACY- Gas Development Corporation was established under OGDC
Published 22 Dec, 2011 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Wednesday (December 21, 2011).

Published 22 Dec, 2011 12:00am
Scientists fight back in 'mutant flu' research row

Scientists fight back in 'mutant flu' research row

Leading virologists on Wednesday warned of censorship after a US bioterror watchdog asked scientific journals to withhold details of lab work that created a mutant strain of killer flu. The controversy erupted on Tuesday when the US National Science Advis
Published 22 Dec, 2011 12:00am
THE RUPEE: dollar at 90 on Interbank market

THE RUPEE: dollar at 90 on Interbank market

The dollar hit the new high at 90 on the interbank market on Wednesday due to strong demand by the importers, who were making forward buying to meet the import payments requirements, dealers said. The rupee continued its fall versus dollar, losing five pa
Published 22 Dec, 2011 12:00am
Scientists fight back in 'mutant flu' research row

Scientists fight back in 'mutant flu' research row

Leading virologists on Wednesday warned of censorship after a US bioterror watchdog asked scientific journals to withhold details of lab work that created a mutant strain of killer flu. The controversy erupted on Tuesday when the US National Science Advis
Published 22 Dec, 2011 12:00am
THE RUPEE: dollar at 90 on Interbank market

THE RUPEE: dollar at 90 on Interbank market

The dollar hit the new high at 90 on the interbank market on Wednesday due to strong demand by the importers, who were making forward buying to meet the import payments requirements, dealers said. The rupee continued its fall versus dollar, losing five pa
Published 22 Dec, 2011 12:00am
Subsidy on imported urea to cost exchequer Rs 42 billion

Subsidy on imported urea to cost exchequer Rs 42 billion

The urea import requirements for the Rabi season will cost the government Rs 42 billion in subsidies as despite higher prices in the world market the imported commodity is being sold at lower price in the domestic market. So far, following the directives
Published 22 Dec, 2011 12:00am
Subsidy on imported urea to cost exchequer Rs 42 billion

Subsidy on imported urea to cost exchequer Rs 42 billion

The urea import requirements for the Rabi season will cost the government Rs 42 billion in subsidies as despite higher prices in the world market the imported commodity is being sold at lower price in the domestic market. So far, following the directives
Published 22 Dec, 2011 12:00am
Subsidy on imported urea to cost exchequer Rs 42 billion

Subsidy on imported urea to cost exchequer Rs 42 billion

The urea import requirements for the Rabi season will cost the government Rs 42 billion in subsidies as despite higher prices in the world market the imported commodity is being sold at lower price in the domestic market. So far, following the directives
Published 22 Dec, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (December 21, 2011).

Published 22 Dec, 2011 12:00am
President arrives in capital

President arrives in capital

President Asif Ali Zardari arrived in Islamabad from Karachi late Wednesday night, Spokesperson to the President Farhatullah Babar said.
Published 22 Dec, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (December 21, 2011).

Published 22 Dec, 2011 12:00am
President arrives in capital

President arrives in capital

President Asif Ali Zardari arrived in Islamabad from Karachi late Wednesday night, Spokesperson to the President Farhatullah Babar said.
Published 22 Dec, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednesday (December 21, 2011).

Published 22 Dec, 2011 12:00am
US money funds turn to European bank repos: Fitch

US money funds turn to European bank repos: Fitch

US money market funds, nervous about the eurozone debt crisis, are making more loans to eurozone banks in the form of short-dated repurchase agreements secured by the safest collaterals, Fitch Ratings said on Wednesday. Repurchase agreements (repos) made
Published 22 Dec, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (December 21, 2011).

Published 22 Dec, 2011 12:00am
US money funds turn to European bank repos: Fitch

US money funds turn to European bank repos: Fitch

US money market funds, nervous about the eurozone debt crisis, are making more loans to eurozone banks in the form of short-dated repurchase agreements secured by the safest collaterals, Fitch Ratings said on Wednesday. Repurchase agreements (repos) made
Published 22 Dec, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (December 21, 2011) and for Thursday (December 22, 2011).
Published 22 Dec, 2011 12:00am
US money funds turn to European bank repos: Fitch

US money funds turn to European bank repos: Fitch

US money market funds, nervous about the eurozone debt crisis, are making more loans to eurozone banks in the form of short-dated repurchase agreements secured by the safest collaterals, Fitch Ratings said on Wednesday. Repurchase agreements (repos) made
Published 22 Dec, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (December 21, 2011).

Published 22 Dec, 2011 12:00am
One dies after eating rotten meat

One dies after eating rotten meat

Mohammad Umar Jattak died and two women fell unconscious after eating rotten meat here in Tamboo area on Wednesday, Tamboo police said. The women had been identified as Jan Bibi and Aisha Bibi who were taken to a nearby hospital. Meanwhile, a six year old
Published 22 Dec, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 22 Dec, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 22 Dec, 2011 12:00am
Illegal transfer of money declines: Malik

Illegal transfer of money declines: Malik

Interior Minister Rehman Malik said on Wednesday that home remittances have surged from $4.6 billion to $11.2 billion in the last three years following the tough and effective action against money laundering. Talking to newsmen after a meeting with the de
Published 22 Dec, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (December 21, 2011).

Published 22 Dec, 2011 12:00am
Sectarian clash leaves five injured

Sectarian clash leaves five injured

An armed clash between two sectarian groups at Shah Faisal Colony on Wednesday left five persons injured. According to police and eyewitnesses, the law and order situation of the locality got deteriorated while heavy contingent of the police reached the s
Published 22 Dec, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (December 21, 2011).

Published 22 Dec, 2011 12:00am
PEC elections challenged in LHC

PEC elections challenged in LHC

A petition has been filed before the Lahore High Court (LHC) challenging elections of Pakistan Engineering Council (PEC) held on December 18, last. The petitioner Engineer Javed Saleem Qureshi who contested elections for the Pakistan Engineering Council (
Published 22 Dec, 2011 12:00am
The Weather

The Weather

The weather report on Wednesday (December 21, 2011) and the forecast for Thursday (December 22, 2011).

Published 22 Dec, 2011 12:00am
Toxic liquor claims three lives; 10 in critical condition

Toxic liquor claims three lives; 10 in critical condition

Three people were killed after taking toxic liquor in Gadap Town, while condition of another 10 is stated to be critical. According to police, the incident took place in Sukhiya Goth near Ayub Goth in the jurisdiction of Sohrab Goth police station. The de
Published 22 Dec, 2011 12:00am
Traders demand renewal of old income tax form

Traders demand renewal of old income tax form

All Pakistan Anjuman-e-Tajiran Pakistan has announced to launch a campaign to press the government for withdrawing the decision of induction of form D in income tax return form. It also rejected the black mailing under the cover of form D and demanded the
Published 22 Dec, 2011 12:00am
Gold up by Rs 1200 per tola

Gold up by Rs 1200 per tola

Gold prices on Wednesday shot up by Rs 1200 to Rs 56,000 per tola in a single day trade on the local market, traders said. "The price of gold was Rs 54,000 per tola Tuesday on the local market," said All Karachi Jewellers Association President Haji Haroon
Published 22 Dec, 2011 12:00am
Gas pipeline blown up in Dera Bugti

Gas pipeline blown up in Dera Bugti

Supply to Pirkoh gas plant was suspended after unidentified armed miscreants blew up a portion of pipeline carrying gas from well no 15 to the plant in Pirkoh area on Wednesday. Local Levies sources said unknown miscreants had planted the explosive device
Published 22 Dec, 2011 12:00am
PML-N shall fight 'the case of Balochistan': Nawaz

PML-N shall fight 'the case of Balochistan': Nawaz

In Punjab Assembly session on Wednesday a resolution tabled by Law Minister Rana Sanaullah of Pakistan Muslim League-Nawaz (PML-N) pointing that the time has come to give due rights to all the provinces was passed with majority of votes. The resolution co
Published 22 Dec, 2011 12:00am
Industrial sector: SNGPL announces four-day gas schedule

Industrial sector: SNGPL announces four-day gas schedule

Sui Northern Gas Pipelines Limited (SNGPL) has announced new four days Gas schedule for Industrial Sector, which will start from December 22 (today). Meanwhile, 380 CNG gas station will closed for next three days from December 22 (today), resultantly long
Published 22 Dec, 2011 12:00am
ISF organises 'Mashal-e-Rah' convention

ISF organises 'Mashal-e-Rah' convention

Insaf Students Federation (ISF) organised "Mashal-e-Rah" Convention here on Wednesday. Former foreign minister Khursheed Mahmood Kasuri and former federal minister Jahangir Khan Tareen were chief guest on the occasion.
Published 22 Dec, 2011 12:00am
Every area of trouble gives out a ray of hope

Every area of trouble gives out a ray of hope

Though lingering insurgency in Balochistan has been a subject of public debate for a long time to hear about it from Sardar Ataullah Mengal at first hand is an eye-opener and indeed a wake-up call. After a meeting with Nawaz Sharif in Karachi on Tuesday,
Published 22 Dec, 2011 12:00am
Ban on CNG kits

Ban on CNG kits

The Cabinet has decided to disallow new cars or old cars without CNG kits to be fitted with new kits. In other words, over a period of time the number of cars with CNG kits will decrease and an increasing number of CNG stations would become non-functional
Published 22 Dec, 2011 12:00am
VIEWPOINT: Balochistan on the brink

VIEWPOINT: Balochistan on the brink

Every word the veteran Baloch nationalist leader Sardar Ataullah Khan Mengal uttered before television cameras this past Sunday at his Karachi residence, Mian Nawaz Sharif standing by his side, was reflective of the Baloch people's deep anguish and anger.
Published 22 Dec, 2011 12:00am
How tax treaties allow benefits from double taxation

How tax treaties allow benefits from double taxation

Double tax treaties provide for relieving double taxation; sometimes double-taxation relief is extended to tax paid by foreign subsidiaries and other foreign affiliates in terms of economic definition. In many cases, such controls are exercised by legal d
Published 22 Dec, 2011 12:00am
Egypt's revolution is false dawn for women?

Egypt's revolution is false dawn for women?

Hopes that the Egyptian revolution would improve the status of women in the Arab world's most populous country have been dimmed after a parliamentary election dominated by men and images of police beating female protesters made headlines all over the worl
Published 22 Dec, 2011 12:00am
Will is needed

Will is needed

The Election Commission of Pakistan has announced that from the coming Senate elections which is expected to take place in March 2012, anyone having dual nationality, will be disqualified to contest elections in Pakistan.
Published 22 Dec, 2011 12:00am
II

II

Hats off to the Election Commission for implementing Article 63-1 of the Constitution. But why is it applicable only to our Parliamentarians? Surely this should apply equally to all the other pillars of government - the bureaucracy, the judiciary and the
Published 22 Dec, 2011 12:00am
Development of debt market vital to spur growth: SBP Governor

Development of debt market vital to spur growth: SBP Governor

"Pakistan's economy and the financial sector are now at a stage where they can support and benefit from a vibrant and efficient debt market. The size of private debt, or Term Finance Certificates (TFCs) in Pakistan, remained around Rs 74 billion (0.5 perc
Published 22 Dec, 2011 12:00am
Major FBR projects include customs stations

Major FBR projects include customs stations

Some major projects of the Revenue Division under Public Sector Development Program (PSDP) include procurement, training and refurbishment of tax offices under Tax Administration Reform Project (TARP), purchase of land/establishment of Tax Facilitation Ce
Published 22 Dec, 2011 12:00am
Working Women Day

Working Women Day

The 'Working Women Day' would be marked on December 22. An announcement here on Wednesday said that the day would be observed on the directive of Sindh Minister for Women Development, Taqueer Fatima Bhutto. It said that a ceremony would be organised under
Published 22 Dec, 2011 12:00am
Four killed in Gujranwala van fire

Four killed in Gujranwala van fire

At least four people were killed and several others sustained injuries when a van caught fire in Gujranwala, private television channels reported on Wednesday. According to details, the van caught fire after it overturned on the By-pass and its gas cylind
Published 22 Dec, 2011 12:00am
Use of HMTs resulted in Isaf container scam: FBR informs NAB

Use of HMTs resulted in Isaf container scam: FBR informs NAB

The Federal Board of Revenue has informed the National Accountability Bureau (NAB) that the frequent use of Hired Mechanical Transport (HMT) of private transporters to carry Afghan transit cargo and Isaf/Nato containers facilitated crime of missing contai
Published 22 Dec, 2011 12:00am
Government fails to arrest Rs 30.5 billion monthly circular debt growth

Government fails to arrest Rs 30.5 billion monthly circular debt growth

The government has failed to check the growth of the inter-circular debt with latest estimates indicating that Rs 30.5 billion is being added to the circular debt every month, it is learnt. An official said that a lot of paper work and meetings have not t
Published 22 Dec, 2011 12:00am
10 percent drop likely in rice production

10 percent drop likely in rice production

Pakistan is likely to miss the rice production target set for the current fiscal year (2011-12), by 10 percent, due to floods and reduction in crop sowing area, sources told Business Recorder. Production target of 6 million tons was set for the cur
Published 22 Dec, 2011 12:00am
Recoveries: NAB asks BoP president to produce record

Recoveries: NAB asks BoP president to produce record

National Accountability Bureau (NAB) summoned the administration of Bank of Pakistan (BOP) to appear before the bureau with the record containing recoveries. The meeting of Executive Board of NAB, which held here on Wednesday with former Adm Fasih Bukhari
Published 22 Dec, 2011 12:00am
'Police put on high alert ahead of Christmas'

'Police put on high alert ahead of Christmas'

More than three thousand police officials would perform their duty at 450 churches of the city. Furthermore, all churches in the city have been divided in four categories A, B, C and D. Upper subordinate would be deputed with police officials at "A" categ
Published 22 Dec, 2011 12:00am
PACP organises workshop on rational emotive behaviour therapy

PACP organises workshop on rational emotive behaviour therapy

PU Vice-Chancellor Professor Dr Mujahid Kamran has said that there was a lot of raw talent in Pakistan but there is a lack of the people who could nourish them. He was talking to the certificate distribution ceremony of a three-day workshop organised by P
Published 22 Dec, 2011 12:00am
Several Pakistan-Poland trade pacts in pipeline: envoy

Several Pakistan-Poland trade pacts in pipeline: envoy

A number of sector-specific agreements between Pakistan and Poland are in the pipeline, which would give boost to trade between the two countries in the near future. The Ambassador of Poland in Pakistan, Dr Andrzej Ananicz, stated this in a meeting at the
Published 22 Dec, 2011 12:00am
IFC launches ADR project in Lahore

IFC launches ADR project in Lahore

IFC, a private sector arm of the World Bank Group, has on Wednesday launched Alternative Dispute Resolution (ADR) project in Lahore. The ADR project in Lahore will introduce commercial mediation to litigants and disputants in Lahore and will serve as a pi
Published 22 Dec, 2011 12:00am
Training on 'Livestock Farming, Extension Services' conducted

Training on 'Livestock Farming, Extension Services' conducted

Solve Agri Dairy Institute conducted ten days training on "Livestock Farming and Extension Services" from December 9 to 18, which was attended by veterinarians working in the field for extension, agri-services and dairy development, both from Pakistan and
Published 22 Dec, 2011 12:00am
Afghan parliamentary team accorded warm welcome in National Assembly

Afghan parliamentary team accorded warm welcome in National Assembly

The visiting Afghan parliamentary delegation was accorded warm welcome in the National Assembly, as lawmakers from across the division stressed the need for friendly relations between Pakistan and Afghanistan. The Afghan delegation witnessed the proceedin
Published 22 Dec, 2011 12:00am
Afghan team calls on Chairman Senate

Afghan team calls on Chairman Senate

Stability and peace in Afghanistan are important for stability and peace in Pakistan. Non-interference in Afghanistan's internal affairs is fundamental to our policy. Pakistan wants to have friendly relations with all ethnic and political groups of Afghan
Published 22 Dec, 2011 12:00am
Country's economy improving, National Assembly told

Country's economy improving, National Assembly told

Minister of State for Production, Khawaja Sheraz Mehmood informed the National Assembly on Wednesday that the country's economy was improving with manufacturing sector growing at a rate of 5.19 percent as compared to 2.6 percent last year. Responding to a
Published 22 Dec, 2011 12:00am
Maryam Nawaz underscores need for unity

Maryam Nawaz underscores need for unity

Pakistan Muslim League-N (PML-N) leader Maryam Nawaz on Wednesday called for forging unity to face the manifold challenges posed to the country. While addressing a function held in connection with birthday celebrations of the Father of Nation Quaid-e-Azam
Published 22 Dec, 2011 12:00am
National Assembly passes National Human Rights Commission bill

National Assembly passes National Human Rights Commission bill

-The National Assembly on Wednesday unanimously passed "The National Commission for Human Rights Bill, 2011 with some amendments. The Bill was moved by Advisor to the Prime Minister on Human Rights Mustafa Nawaz Khokhar to the House for passage. Zahid Ham
Published 22 Dec, 2011 12:00am
Piaf rejects increase in gas prices by 14 percent

Piaf rejects increase in gas prices by 14 percent

Pakistan Industrial and Traders Associations Front (Piaf) has outrightly rejected the government decision to jack up gas prices by 14 percent from January 1, 2012. The Piaf Executive Committee met here on Wednesday under the leadership of Sohail Lashari a
Published 22 Dec, 2011 12:00am
MoU signed by MoST, Centre Sciences-CCSTI- France

MoU signed by MoST, Centre Sciences-CCSTI- France

Pakistan Science Foundation (PSF), Ministry of Science and Technology and Centre Sciences-CCSTI, France on Wednesday signed a Memorandum of Understanding (MoU) for promotion and co-operation in the field of science. Federal Minister for Science and Techno
Published 22 Dec, 2011 12:00am
PBC commitment to create space for women

PBC commitment to create space for women

The Pakistan Business Council (PBC), a forum for Pakistan's major businesses, expressed its commitment to observing the Working Women's Day on December 22, 2011 with a renewed commitment to creating space for women to contribute actively in every aspect o
Published 22 Dec, 2011 12:00am
Sindh Assembly passes Criminal Prosecution Service Bill 2011

Sindh Assembly passes Criminal Prosecution Service Bill 2011

The Sindh Assembly on Wednesday unanimously passed the Sindh Criminal Prosecution Service (Constitution, Functions and Powers) Amendment Bill, 2011 into a law to curb terrorism in the province and pursue criminal cases effectively. The bill was introduced
Published 22 Dec, 2011 12:00am
Sindh Assembly pays rich tributes to Malala Yousufzai

Sindh Assembly pays rich tributes to Malala Yousufzai

The Sindh Assembly on Wednesday paid rich tributes to Malala Yousufzai, a 14-year-old girl from Swat, for her brave role in spreading education in the face of harshest opposition by the Taliban in Malakand division of Khyber Pakhtunkhwa province.
Published 22 Dec, 2011 12:00am
Outrageously pathetic!

Outrageously pathetic!

The 'confession' of a father to have murdered his three disabled daughters after raping two of them has shell-shocked everyone, indicating moral degradation of society. In a country like Pakistan where people always sympathetically treat disabled persons
Published 22 Dec, 2011 12:00am
MFN status to India: speakers for taking all stakeholders on board

MFN status to India: speakers for taking all stakeholders on board

Speakers at a day-long national conference on granting MFN-status to India, have called for the complying binding principles or laws under agreement of World Trade Organisation (WTO) to deter expansionist designs of neighbouring India through the facility
Published 22 Dec, 2011 12:00am
5000 tractors distributed among growers in Sindh

5000 tractors distributed among growers in Sindh

Sindh Agriculture department would distribute more 5000 tractors to growers in fiscal year 2011-12, according to Annual Development Programme (ADP) 2011-12, Business Recorder learnt on Wednesday. Agriculture department had given 4000 tractors to th
Published 22 Dec, 2011 12:00am
Indonesian envoy visits Sindh University

Indonesian envoy visits Sindh University

Consul General of the Republic of Indonesia Rossalis R. Adenan has said that Indonesian Government is providing scholarships for higher studies in Indonesian Language studies, Social Sciences and International Relations. He was talking with Pro Vice Chanc
Published 22 Dec, 2011 12:00am
Sindh Environment department fails to table new laws in PA

Sindh Environment department fails to table new laws in PA

Sindh Environment department could not table the new drafts of environmental laws in Sindh assembly despite passage of more than six months, Business Recorder learnt on Wednesday. These laws had been made by the experts of Environment department af
Published 22 Dec, 2011 12:00am
Chicken meat prices rise by Rs 40 per kg

Chicken meat prices rise by Rs 40 per kg

The chicken meat prices have gone up by Rs 40 per kilogram from Rs 130 to Rs 171 in three days due to increased demand in the on-going marriage season and Christmas festivities.
Published 22 Dec, 2011 12:00am
AJK Prime Minister phones Altaf

AJK Prime Minister phones Altaf

Prime Minister Azad Jammu and Kashmir Chaudhry Abdul Majeed telephoned Muttahida Qaumi Movement (MQM) chief Altaf Hussain on Wednesday and exchanged views on political situation in the country. Majeed welcomed the public meeting being organised by the MQM
Published 22 Dec, 2011 12:00am
ICAP seminar

ICAP seminar

Southern Regional Committee of Institute of Chartered Accountants of Pakistan (ICAP) has organised seminar on 'Leadership - An Insight' at ICAP House. Aamir Masood Khan, Country Head HR and Operations at Nexus Technology, UAE and Pakistan was speaker at t
Published 22 Dec, 2011 12:00am
US MIDDAY: gold slips

US MIDDAY: gold slips

Gold surrendered gains on Wednesday in line with the euro after a tender for cheap European Central Bank loans failed to convince investors it would ease Europe's deep-seated debt problems, despite its greater-than-expected interest. Spot gold was down at
Published 22 Dec, 2011 12:00am
US MIDDAY: grains rally stalls

US MIDDAY: grains rally stalls

Grains eased on Wednesday as forecasts of rain for parched soya and corn crops in Brazil and Argentina stalled the recent rally and investors took profits. US wheat was also weighed down by snowfall in the US Plains that has added critical moisture for th
Published 22 Dec, 2011 12:00am
Gold surrenders gains

Gold surrenders gains

Gold surrendered gains on Wednesday in line with the euro after a tender for cheap European Central Bank loans failed to convince investors it would ease Europe's deep-seated debt problems, despite attracting greater-than-expected interest. Spot gold was
Published 22 Dec, 2011 12:00am
Gold jumps in Asia

Gold jumps in Asia

Gold rose to a one-week high on Wednesday, extending gains from the previous session, as upbeat economic data from the United States and Germany boosted market sentiment and a weaker dollar lent support. Spot gold rose as much as 0.9 percent to a one-week
Published 22 Dec, 2011 12:00am
US gold climbs

US gold climbs

Gold prices rose to their highest in nearly a week on Tuesday as the euro rallied 1 percent versus the dollar, but volume was light and short-term traders were unwilling to take big risks before year end. Many long-term traders have closed their books for
Published 22 Dec, 2011 12:00am
ICE coffee slips

ICE coffee slips

Soft commodity futures finished mostly easier on Wednesday in light trade, with arabica coffee on ICE losing ground after a two-day surge ran out of steam, raw sugar down and cocoa slightly higher. Analysts said most major players in the softs complex wer
Published 22 Dec, 2011 12:00am
US MIDDAY: grains stay higher

US MIDDAY: grains stay higher

Grains rose to fresh multi-week highs Tuesday as encouraging economic signs from Europe improved investor sentiment and dry conditions threatened South American corn and soy yields. Grains took support from a weaker US dollar, which helps US commodities t
Published 22 Dec, 2011 12:00am
Palm oil jumps

Palm oil jumps

Malaysian crude palm oil futures rose to its highest in nearly two weeks on Wednesday on expectations of rising demand, firmer comparative oils and an improving eurozone debt outlook. Benchmark March palm oil futures on the Bursa Malaysia Derivatives Exch
Published 22 Dec, 2011 12:00am
Tokyo rubber futures hit one-week high

Tokyo rubber futures hit one-week high

Tokyo rubber futures jumped 3 percent to a one-week high on Wednesday, tracking rises in stocks and oil prices, which were supported by upbeat US economic data, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for May delivery r
Published 22 Dec, 2011 12:00am
Oil rises as US stockpiles drop to three-year low

Oil rises as US stockpiles drop to three-year low

Oil prices rose more than 1 percent on Wednesday, on track for their third straight winning day as US crude inventories dropped to their lowest in nearly three years, overshadowing worries about the eurozone debt crisis. US government data showed domestic
Published 22 Dec, 2011 12:00am
Copper pares gains

Copper pares gains

Copper prices pared gains on Wednesday, having risen to their highest in more than a week as the initial effect of an encouraging take-up by banks from the European Central Bank's lending operation began to fade. Benchmark copper on the London Metal Excha
Published 22 Dec, 2011 12:00am
Shanghai copper rises

Shanghai copper rises

The most-traded March copper contract on the Shanghai Futures Exchange increased 1.6 percent to 54,620 yuan ($8,600) a tonne on Wednesday.
Published 22 Dec, 2011 12:00am
US copper rises

US copper rises

Copper rose on Tuesday to near a one week high as a weaker dollar and better-than-expected German business sentiment helped offset worries that policymakers were falling short of efforts to address Europe's debt crisis. In New York, the most-active US cop
Published 22 Dec, 2011 12:00am
New York cotton settles higher

New York cotton settles higher

Cotton futures settled slightly firmer on Wednesday on speculative buying in range-bound trade as major investors apparently left for the Christmas and New Year holidays, analysts said. The key March cotton futures added 0.04 cent to close at 86.84 cents
Published 22 Dec, 2011 12:00am
Ghazi Fabrics International Limited

Ghazi Fabrics International Limited

Ghazi Fabrics International Limited was established in 1990 and is listed on Karachi Stock Exchange. It has a diversified marketing portfolio and is currently exporting fabric to the US, Europe and the Far East. The company produces the best quality fabri
Published 22 Dec, 2011 12:00am
Ghazi Fabrics International Limited

Ghazi Fabrics International Limited

Ghazi Fabrics International Limited was established in 1990 and is listed on Karachi Stock Exchange. It has a diversified marketing portfolio and is currently exporting fabric to the US, Europe and the Far East. The company produces the best quality fabri
Published 22 Dec, 2011 12:00am
Procurement of cotton: PCGA rejects stance of Aptma

Procurement of cotton: PCGA rejects stance of Aptma

Pakistan Cotton Ginners Association (PCGA) has rejected the stance of All Pakistan Textile Mills Association (Aptma) and Karachi Cotton Association (KCA) on the procurement of cotton through Trading Corporation of Pakistan (TCP) describing it anti farmers
Published 22 Dec, 2011 12:00am
Government taking steps to overcome low gas pressure

Government taking steps to overcome low gas pressure

Gas pressure for the domestic consumers will improve with additional supply of 100 mmcfd from Kunnar Pasaki Deep in the coming few days alongwith diversion of 160 mmcfd from the fertiliser sector next month, an official source said on Wednesday. The Feder
Published 22 Dec, 2011 12:00am
Bid to smuggle 240kg hashish out foiled

Bid to smuggle 240kg hashish out foiled

Sabzi Mandi police Islamabad has foiled an attempt to smuggle huge cache of drug and recovered 240kg of hashish during special checking of a truck at entrance points of the Capital near Toll Plaza, Senior Superintendent of Police Islamabad Muhammad Yousuf
Published 22 Dec, 2011 12:00am
Senate body voices concern over absence of CDA chairman

Senate body voices concern over absence of CDA chairman

The Senate's Functional Committee on Government Assurance on Wednesday expressed concern and dismay over the absence of the Chairman of the Capital Development Authority (CDA) in its meeting and summoned him in its next meeting scheduled for December 30.
Published 22 Dec, 2011 12:00am
FAS on power bills: LHC extends stay against levy

FAS on power bills: LHC extends stay against levy

The Lahore High Court here Wednesday extended stay against levy of fuel adjustment surcharge on both domestic and commercial electricity bills to December 22. Besides old petitioners, the court gave relief of stay to hundreds of new petitioners also who a
Published 22 Dec, 2011 12:00am
1,020,979 Pakistan Card holders benefited: Nadra

1,020,979 Pakistan Card holders benefited: Nadra

National Database and Registration Authority (Nadra) claimed on Wednesday that it has crossed a million mark of issuing 'Pakistan Cards' and disbursed Rs 8.5 billion to the rain-affected families in Sindh. The Deputy Chairman Nadra, Tariq Malik said, a to
Published 22 Dec, 2011 12:00am
North Korea military, uncle to share power with Kim's heir

North Korea military, uncle to share power with Kim's heir

North Korea will shift to collective rule from a strongman dictatorship after last week's death of Kim Jong-il, although his untested young son will be at the head of the ruling coterie, a source with close ties to Pyongyang and Beijing said. The source a
Published 22 Dec, 2011 12:00am
Spain's Rajoy sworn in as prime minister

Spain's Rajoy sworn in as prime minister

Mariano Rajoy was sworn in as Spain's new prime minister on Wednesday and was due to name a team which will need to strike a balance between reviving the stagnant economy and cutting the public deficit. Rajoy has given no clues about his cabinet line-up s
Published 22 Dec, 2011 12:00am
Iran launches news channel in Spanish

Iran launches news channel in Spanish

Iran on Wednesday launches a television news service for Spanish-speakers world-wide, the channel said. HispanTV, financed by the Iranian government, broadcasts from Tehran, screening news and documentaries in Spanish around the clock. The channel plans "
Published 22 Dec, 2011 12:00am
Four die in second boat disaster in Indonesia

Four die in second boat disaster in Indonesia

Four people were killed but 100 rescued when an overloaded boat sank in Indonesia on Wednesday, as hopes faded for any more survivors from a migrants' vessel which capsized with around 250 on board. The latest accident came as rescuers were still retrievi
Published 22 Dec, 2011 12:00am
Russia sends multinational crew to ISS

Russia sends multinational crew to ISS

Russia on Wednesday sent a multinational crew of three astronauts to the International Space Station on a Soyuz rocket from its Baikonur cosmodrome in Kazakhstan. Russian cosmonaut Oleg Kononenko, US NASA astronaut Don Pettit and Dutch astronaut Andre Kui
Published 22 Dec, 2011 12:00am
Ethiopian court finds Swedes guilty of aiding rebels

Ethiopian court finds Swedes guilty of aiding rebels

An Ethiopian court found two Swedish journalists guilty on Wednesday of helping and promoting the outlawed Ogaden National Liberation Front (ONLF) rebel group, and entering the Horn of Africa nation illegally. Reporter Martin Schibbye and photographer Joh
Published 22 Dec, 2011 12:00am
Two Rwandan politicians jailed for life

Two Rwandan politicians jailed for life

The UN war crimes tribunal for Rwanda on Wednesday found two bosses of the former ruling Hutu-led party guilty of genocide for their leading roles in the 1994 massacre of Tutsis and moderate Hutus, and sentenced them to life in prison. Mathieu Ngirumpatse
Published 22 Dec, 2011 12:00am
Iraq row deepens as Prime Minister calls for vice president handover

Iraq row deepens as Prime Minister calls for vice president handover

Iraq's government marked its first anniversary Wednesday in turmoil as its premier urged Kurd officials to hand over the Sunni vice president on terror charges, in a row that has raised communal tension. Washington has urged calm, but Prime Minister Nuri
Published 22 Dec, 2011 12:00am
US troops may stay past 2014 in Afghanistan

US troops may stay past 2014 in Afghanistan

The US commander in Afghanistan said in an interview published Wednesday that American troops could stay in Afghanistan beyond 2014, the latest signal of a possible open-ended US military role in the country. General John Allen told the New York Times tha
Published 22 Dec, 2011 12:00am
111 killed in Syria's 'bloodiest day'

111 killed in Syria's 'bloodiest day'

Syrian forces killed 111 people ahead of the start of a mission to monitor President Bashar al-Assad's implementation of an Arab League peace plan, activists said on Wednesday, and France branded the killings an "unprecedented massacre". Rami Abdulrahman
Published 22 Dec, 2011 12:00am
Thailand, Cambodia agree on troop withdrawal

Thailand, Cambodia agree on troop withdrawal

Thailand and Cambodia said they agreed Wednesday to redeploy troops "completely and simultaneously" from a shared border area that has been the scene of deadly clashes. The neighbours' defence ministers and army chiefs agreed to redeploy troops away from
Published 22 Dec, 2011 12:00am
Zuma blames Christianity for problems in Africa

Zuma blames Christianity for problems in Africa

South African President Jacob Zuma has blamed Christianity for some of Africa's woes, according to a media report Wednesday, his latest comments likely to provoke anger in the country's churches. "As Africans, long before the arrival of religion and gospe
Published 22 Dec, 2011 12:00am
Eight US soldiers charged over death in Afghanistan

Eight US soldiers charged over death in Afghanistan

Eight US troops were charged on Wednesday in connection with the death of a fellow soldier allegedly abused in southern Afghanistan, the military said. The soldiers face a raft of charges over the death of 19-year-old Private Danny Chen on October 3 in Ka
Published 22 Dec, 2011 12:00am
EU lifts sanctions on Libyan banks

EU lifts sanctions on Libyan banks

The European Union on Wednesday lifted the sanctions it had imposed on Libya's central bank and state-owned international lender, in a bid to help the North African country rebuild following the ouster of leader Mummar Qadhafi. The EU had frozen all funds
Published 22 Dec, 2011 12:00am
Egyptians back at polls, calm in Cairo

Egyptians back at polls, calm in Cairo

Egyptians returned to the polls on Wednesday in a phased parliamentary election after five days of violence in Cairo that has cast a pall over the transition to democracy and drawn a US rebuke of Egypt's security forces. Tahrir Square and surrounding stre
Published 22 Dec, 2011 12:00am
Aptma concerned over decline in exports

Aptma concerned over decline in exports

Chairman All Pakistan Textile Mills Association (APTMA) has expressed deep concerns over alarming decline in textile exports during November 2011 due to energy shortage and high interest rate. He said the five major sectors of textile industry, including
Published 22 Dec, 2011 12:00am
SNGPL fails to ensure required gas pressure

SNGPL fails to ensure required gas pressure

Gas pressure to domestic users in many parts of the city remained low on Wednesday irking citizens. Sui Northern Gas Pipelines Limited (SNGPL) has failed to ensure gas pressure for domestic users despite closing industries and CNG stations, Business Re
Published 22 Dec, 2011 12:00am
Iftikhar Gilani, former Khyber Pakhtunkhwa minister join PTI

Iftikhar Gilani, former Khyber Pakhtunkhwa minister join PTI

Syed Iftikhar Hussain Gilani, former law minister and founding member of Pakistan People's Party (PPP) along with former minister of Khyber-Pakhtunkhwa Iftikharuddin Khatak from his hometown Kohat joined Pakistan Tehreek-e-Insaf (PTI).
Published 22 Dec, 2011 12:00am
Government striving to capitalise on human capital: Riaz

Government striving to capitalise on human capital: Riaz

Minister for Professional and Technical Training Riaz Hussain Pirzada has stated that the government is striving hard to capitalise the human capital in the country. He was addressing the one-day Pre-National TVET Roundtable consultative meeting of federa
Published 22 Dec, 2011 12:00am
PSVs having CNG cylinders: owners asked to get fitness certificate

PSVs having CNG cylinders: owners asked to get fitness certificate

National Highways and Motorway Police (NH&MP) has decided that all the Public Service Vehicles (PSVs) which have installed CNG cylinders would not be allowed to enter motorways and highways if they have not obtained fitness certificate from the Hydro Deve
Published 22 Dec, 2011 12:00am
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