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Archive - 2012-01-18
Eurozone close to recession: Juncker
Top News

Eurozone close to recession: Juncker

BRUSSELS : The eurozone is close to recession, Jean-Claude Juncker, the Luxembourg premier who heads the eurogroup, sa
Published 18 Jan, 2012 08:32pm
Euro and shares lifted on IMF aid talk
Top News

Euro and shares lifted on IMF aid talk

LONDON: European shares and the euro got a boost on Wednesday on talk the IMF may do more to help resolve the European d
Published 18 Jan, 2012 03:46pm
British jobless at highest since 1994
Top News

British jobless at highest since 1994

  LONDON: Britain's jobless total has hit the highest level since 1994, official data showed on Wednesday, and is set t
Published 18 Jan, 2012 03:15pm
PM to appear in Supreme Court
Top News

PM to appear in Supreme Court

ISLAMABAD: Prime Minister Yousuf Raza Gilani appears before Supreme Court on Thursday to face contempt of court proceedi
Published 18 Jan, 2012 03:14pm
Rangers arrest 33 suspects
Top News

Rangers arrest 33 suspects

KARACHI: Pakistan Rangers (Sindh) have arrested 33 suspects and recovered 14 different type of arms from their possessio
Published 18 Jan, 2012 12:38pm
RECORDER REPORT: KSE-100 close of day
Top News

RECORDER REPORT: KSE-100 close of day

KARACHI: On Wednesday, after market close, KSE-100 Index was at 11,547.72 with a net positive change of 242.56 and volum
Published 18 Jan, 2012 12:26pm
Mansoor Ijaz issued visa for Pakistan
Top News

Mansoor Ijaz issued visa for Pakistan

KARACHI :  Pakistani-American businessman Mansoor Ijaz has been issued a visa by the Pakistani embassy in Bern , Switz
Published 18 Jan, 2012 09:26am
Sharif family may get property back
Top News

Sharif family may get property back

KARACHI : The Supreme Court on Wednesday upheld the verdict of the High Court to return the property of the Sharif famil
Published 18 Jan, 2012 09:05am
RECORDER REPORT: KSE mid day update
Top News

RECORDER REPORT: KSE mid day update

KARACHI: On Wednesday, by 12:40 P.M., KSE-100 Index was at 11,459.47 with a net positive change of 154.31 and volume of
Published 18 Jan, 2012 08:01am
Exports likely to decline to $23bn
Top News

Exports likely to decline to $23bn

RECORDER REPORT ISLAMABAD : Pakistan 's exports are expected to decline to $23 billion in the current fiscal year fr
Published 18 Jan, 2012 06:06am
Lesco collects Rs12.5bn in six months
Top News

Lesco collects Rs12.5bn in six months

M RAFIQUE GORAYA LAHORE : Lahore Electric Supply Company (Lesco) collected record Rs. 12.5 billion revenue in the fir
Published 18 Jan, 2012 06:02am
ADD licence issued to Faysal Bank
Top News

ADD licence issued to Faysal Bank

RECORDER REPORT KARACHI : The State Bank of Pakistan (SBP) issued Authorised Derivative Dealer (ADD) Licence to Faysa
Published 18 Jan, 2012 05:34am
37 percent decline in FDI
Top News

37 percent decline in FDI

RECORDER REPORT KARACHI : Foreign direct investment (FDI) dropped by 37 percent during the first half (July-Dec) of c
Published 18 Jan, 2012 05:17am
Gold to drop to $1,625.20/oz
Top News

Gold to drop to $1,625.20/oz

SINGAPORE: Spot gold will drop to $1,625.20 per ounce as it failed a resistance at $1,662 again. The resistance is the
Published 18 Jan, 2012 05:05am
CBOT soybeans turn neutral
Commodities

CBOT soybeans turn neutral

SINGAPORE: The CBOT March soybean contract is turning neutral as it are still consolidating within a triangle, which wil
Published 18 Jan, 2012 04:44am
Euro firms on risk appetite
Financial

Euro firms on risk appetite

TOKYO: The euro edged up against the dollar and yen in Asia on Wednesday as funds flowed to riskier currencies amid spec
Published 18 Jan, 2012 04:16am
Better late than never
BR Research

Better late than never

Tractor manufacturers in Pakistan can finally heave a sigh of relief as after months of deliberations with the government the issue of GST o
Published 18 Jan, 2012 12:00am
Agility moves court

Agility moves court

The Kuwait-based software supplier and owner of Pakistan Automated Customs Computerised System (PaCCS), ''Agility'', has approached French court and International Centre for Settlement of Investment Disputes (ICSID) for the settlement of pending dues of $
Published 18 Jan, 2012 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 18 Jan, 2012 12:00am
Agility moves court

Agility moves court

The Kuwait-based software supplier and owner of Pakistan Automated Customs Computerised System (PaCCS), ''''Agility'''', has approached French court and International Centre for Settlement of Investment Disputes (ICSID) for the settlement of pending dues
Published 18 Jan, 2012 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 18 Jan, 2012 12:00am
ADD licence issued to Faysal Bank

ADD licence issued to Faysal Bank

The State Bank of Pakistan (SBP) on Tuesday issued Authorised Derivative Dealer (ADD) Licence to Faysal Bank Limited to conduct financial derivative business. Now six banks including Citibank, Deutsche Bank, Faysal Bank Limited, Habib Bank Limited, and St
Published 18 Jan, 2012 12:00am
ADD licence issued to Faysal Bank

ADD licence issued to Faysal Bank

The State Bank of Pakistan (SBP) on Tuesday issued Authorised Derivative Dealer (ADD) Licence to Faysal Bank Limited to conduct financial derivative business. Now six banks including Citibank, Deutsche Bank, Faysal Bank Limited, Habib Bank Limited, and St
Published 18 Jan, 2012 12:00am
ADD licence issued to Faysal Bank

ADD licence issued to Faysal Bank

The State Bank of Pakistan (SBP) on Tuesday issued Authorised Derivative Dealer (ADD) Licence to Faysal Bank Limited to conduct financial derivative business. Now six banks including Citibank, Deutsche Bank, Faysal Bank Limited, Habib Bank Limited, and St
Published 18 Jan, 2012 12:00am
SSGC, SNGPL overcharged Rs 26 billion from consumers

SSGC, SNGPL overcharged Rs 26 billion from consumers

The Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines (SNGPL) have overcharged the gas consumers by Rs 26 billion in last two years, official documents available with Business Recorder show. According to the documents, "the then Secret
Published 18 Jan, 2012 12:00am
SSGC, SNGPL overcharged Rs 26 billion from consumers

SSGC, SNGPL overcharged Rs 26 billion from consumers

The Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines (SNGPL) have overcharged the gas consumers by Rs 26 billion in last two years, official documents available with Business Recorder show. According to the documents, "the then Secret
Published 18 Jan, 2012 12:00am
SSGC, SNGPL overcharged Rs 26 billion from consumers

SSGC, SNGPL overcharged Rs 26 billion from consumers

The Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines (SNGPL) have overcharged the gas consumers by Rs 26 billion in last two years, official documents available with Business Recorder show. According to the documents, "the then Secret
Published 18 Jan, 2012 12:00am
Survey of Pakistan, GSoP locked horns over jurisdiction

Survey of Pakistan, GSoP locked horns over jurisdiction

The Survey of Pakistan and Geological Survey of Pakistan have reportedly locked horns over jurisdictions in the survey of different parts of the country, sources in Petroleum Ministry told Business Recorder here on Tuesday. This was witnessed at a
Published 18 Jan, 2012 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (January 17, 2012).

Published 18 Jan, 2012 12:00am
Survey of Pakistan, GSoP locked horns over jurisdiction

Survey of Pakistan, GSoP locked horns over jurisdiction

The Survey of Pakistan and Geological Survey of Pakistan have reportedly locked horns over jurisdictions in the survey of different parts of the country, sources in Petroleum Ministry told Business Recorder here on Tuesday. This was witnessed at a
Published 18 Jan, 2012 12:00am
Survey of Pakistan, GSoP locked horns over jurisdiction

Survey of Pakistan, GSoP locked horns over jurisdiction

The Survey of Pakistan and Geological Survey of Pakistan have reportedly locked horns over jurisdictions in the survey of different parts of the country, sources in Petroleum Ministry told Business Recorder here on Tuesday. This was witnessed at a
Published 18 Jan, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Tuesday (January 17, 2012).

Published 18 Jan, 2012 12:00am
Trade volume to be raised to $5 billion by 2015: Pak-Afghan JEC held

Trade volume to be raised to $5 billion by 2015: Pak-Afghan JEC held

Pak-Afghan Joint Economic Commission (JEC) has agreed to enhance bilateral trade between the two countries from the current volume of $2.5 billion to $5 billion by 2015 and decided to involve private sector for deepening economic relations. This was state
Published 18 Jan, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Tuesday (January 17, 2012).

Published 18 Jan, 2012 12:00am
Trade volume to be raised to $5 billion by 2015: Pak-Afghan JEC held

Trade volume to be raised to $5 billion by 2015: Pak-Afghan JEC held

Pak-Afghan Joint Economic Commission (JEC) has agreed to enhance bilateral trade between the two countries from the current volume of $2.5 billion to $5 billion by 2015 and decided to involve private sector for deepening economic relations. This was state
Published 18 Jan, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Tuesday (January 17, 2012).

Published 18 Jan, 2012 12:00am
Trade volume to be raised to $5 billion by 2015: Pak-Afghan JEC held

Trade volume to be raised to $5 billion by 2015: Pak-Afghan JEC held

Pak-Afghan Joint Economic Commission (JEC) has agreed to enhance bilateral trade between the two countries from the current volume of $2.5 billion to $5 billion by 2015 and decided to involve private sector for deepening economic relations. This was state
Published 18 Jan, 2012 12:00am
THE RUPEE: divergent trend

THE RUPEE: divergent trend

The rupee performed on both sides against dollar on the currency market on Tuesday in process of trading, dealers said. The rupee depreciated by seven paisa in relation to dollar for buying at 90.37 and shed five paisa for selling at 90.40, they said.
Published 18 Jan, 2012 12:00am
China, UAE sign 35 billion yuan currency swap

China, UAE sign 35 billion yuan currency swap

China and the United Arab Emirates on Tuesday signed a currency swap agreement worth 35 billion yuan ($5.54 billion), the People's Bank of China said, adding that the deal was effective for three years and would boost two-way trade and investment.
Published 18 Jan, 2012 12:00am
THE RUPEE: divergent trend

THE RUPEE: divergent trend

The rupee performed on both sides against dollar on the currency market on Tuesday in process of trading, dealers said. The rupee depreciated by seven paisa in relation to dollar for buying at 90.37 and shed five paisa for selling at 90.40, they said.
Published 18 Jan, 2012 12:00am
China, UAE sign 35 billion yuan currency swap

China, UAE sign 35 billion yuan currency swap

China and the United Arab Emirates on Tuesday signed a currency swap agreement worth 35 billion yuan ($5.54 billion), the People's Bank of China said, adding that the deal was effective for three years and would boost two-way trade and investment.
Published 18 Jan, 2012 12:00am
China, UAE sign 35 billion yuan currency swap

China, UAE sign 35 billion yuan currency swap

China and the United Arab Emirates on Tuesday signed a currency swap agreement worth 35 billion yuan ($5.54 billion), the People''s Bank of China said, adding that the deal was effective for three years and would boost two-way trade and investment.
Published 18 Jan, 2012 12:00am
Khokhrapar to Mirpur: Railways decides to restore local train service

Khokhrapar to Mirpur: Railways decides to restore local train service

Railways administration has, in principle, decided to restore local train service between Khokhrapar and Mirpur from Friday January 20. It is pertinent to mention here that Railways administration had suspended this train service due to acute shortage of
Published 18 Jan, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (January 17, 2012).

Published 18 Jan, 2012 12:00am
Khokhrapar to Mirpur: Railways decides to restore local train service

Khokhrapar to Mirpur: Railways decides to restore local train service

Railways administration has, in principle, decided to restore local train service between Khokhrapar and Mirpur from Friday January 20. It is pertinent to mention here that Railways administration had suspended this train service due to acute shortage of
Published 18 Jan, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (January 17, 2012).

Published 18 Jan, 2012 12:00am
Khokhrapar to Mirpur: Railways decides to restore local train service

Khokhrapar to Mirpur: Railways decides to restore local train service

Railways administration has, in principle, decided to restore local train service between Khokhrapar and Mirpur from Friday January 20. It is pertinent to mention here that Railways administration had suspended this train service due to acute shortage of
Published 18 Jan, 2012 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Tuesday (January 17, 2012).

Published 18 Jan, 2012 12:00am
Journalist killed

Journalist killed

A journalist from Mohmand Agency, Mukkaram Khan Atif, was shot dead by unknown people at Shabqadar town of Charsadda district of Khyber Pakhtunkhwa on Tuesday evening. The 45-years-old journalist was working for Dewa Radio- a Pashto language radio channel
Published 18 Jan, 2012 12:00am
Journalist killed

Journalist killed

A journalist from Mohmand Agency, Mukkaram Khan Atif, was shot dead by unknown people at Shabqadar town of Charsadda district of Khyber Pakhtunkhwa on Tuesday evening. The 45-years-old journalist was working for Dewa Radio- a Pashto language radio channel
Published 18 Jan, 2012 12:00am
3-G license bidding: Hafeez assures investors of fair Competition

3-G license bidding: Hafeez assures investors of fair Competition

Finance Minister Dr Abdul Hafeez Sheikh on Tuesday assured investors that the bidding of 3-G license would be transparent and all the players would be provided level playing field. Addressing Investors Conference on Auction of Mobile Cellular License Spec
Published 18 Jan, 2012 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (January 17, 2012).

Published 18 Jan, 2012 12:00am
3-G license bidding: Hafeez assures investors of fair Competition

3-G license bidding: Hafeez assures investors of fair Competition

Finance Minister Dr Abdul Hafeez Sheikh on Tuesday assured investors that the bidding of 3-G license would be transparent and all the players would be provided level playing field. Addressing Investors Conference on Auction of Mobile Cellular License Spec
Published 18 Jan, 2012 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 18 Jan, 2012 12:00am
3-G license bidding: Hafeez assures investors of fair Competition

3-G license bidding: Hafeez assures investors of fair Competition

Finance Minister Dr Abdul Hafeez Sheikh on Tuesday assured investors that the bidding of 3-G license would be transparent and all the players would be provided level playing field. Addressing Investors Conference on Auction of Mobile Cellular License Spec
Published 18 Jan, 2012 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 18 Jan, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (January 17, 2012).

Published 18 Jan, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (January 17, 2012).

Published 18 Jan, 2012 12:00am
The Weather

The Weather

The weather report on Tuesday (January 17, 2012) and the forecast for Wednesday (January 18, 2012).

Published 18 Jan, 2012 12:00am
Democracy should survive at any cost: chief minister Punjab

Democracy should survive at any cost: chief minister Punjab

Punjab Chief Minister Muhammad Shahbaz Sharif has said that democratic system and corrupt rulers are two different things and democracy should survive at any cost, as it is the name of public service. He said that issue of contempt of court was between th
Published 18 Jan, 2012 12:00am
There is bright scope for surgical instruments in Hungary: envoy

There is bright scope for surgical instruments in Hungary: envoy

Ambassador of Hungary to Pakistan Istvan Darvasi has said that there is bright scope for Pakistani products especially surgical instruments in Hungary. Addressing the members of Surgical instruments Manufa-cturers Association of Pakistan (SIMAP) at Allama
Published 18 Jan, 2012 12:00am
Cut in GST on tractors hailed

Cut in GST on tractors hailed

The Lahore Chamber of Commerce and Industry has hailed the Cabinet committee decision to cut General Sales Tax on tractors to 5 percent from the 16 percent and said that it would not only facilitate the tractor manufacturers, vendors attached with the ind
Published 18 Jan, 2012 12:00am
Aptma in collaboration with Punjab Police forms IPLC

Aptma in collaboration with Punjab Police forms IPLC

All Pakistan Textile Mills Association (Aptma) in collaboration with the Punjab Police has constituted Industrial Police Liaison Committee (IPLC) to make the area of textile industry a place where criminal activities are controlled. It may be noted that t
Published 18 Jan, 2012 12:00am
Nawaz urges Prime Minister to appear before Supreme Court

Nawaz urges Prime Minister to appear before Supreme Court

The Pakistan Muslim League-N (PML-N) Chief Nawaz Sharif on Tuesday exhorted Prime Minister Syed Yousuf Raza Gilani to appear before the judiciary in Supreme Court of Pakistan to answer court's contempt notice. The apex court on Monday issued a contempt no
Published 18 Jan, 2012 12:00am
Concern voiced over falling FDI

Concern voiced over falling FDI

Rising risk perception about investing in Pakistan is hitting hard the Foreign Direct Investment (FDI) that sharply fell in the recent months and needs to be tackled through a comprehensive policy approach by involving Chambers of Commerce in the country.
Published 18 Jan, 2012 12:00am
Training programme on commercial dairy farming conducted

Training programme on commercial dairy farming conducted

Solve Agri & Dairy Institute (SADI) has conducted a special training programme on "Commercial Dairy Farming" for Pioneer Pakistan Seed Ltd. A three-day course was attended by Pioneer Pakistan Seed's field staff including district sales agronomists (DSA),
Published 18 Jan, 2012 12:00am
Gas closure to textile industry: 'jobs of 15 million workers at stake'

Gas closure to textile industry: 'jobs of 15 million workers at stake'

President Dera Ghazi Khan Chamber of Commerce & Industry (DGCCI) Muhammad Anees Khawaja has said that the textile industry has suffered a loss of Rs 100 billion due to suspension of gas supply to the industry. Now the jobs of 15 million industrial workers
Published 18 Jan, 2012 12:00am
Jamaat-e-Islami Shoora meets today

Jamaat-e-Islami Shoora meets today

The Central Shoora (Advisory body) of the Jamaat-e-Islami is meeting here on Wednesday (today) to discuss the political situation occurring in the country and to chalk out the future strategy of the party. The JI Ameer, Syed Munawar Hasan, will preside ov
Published 18 Jan, 2012 12:00am
Exports likely to decline to $23 billion: Puri

Exports likely to decline to $23 billion: Puri

Pakistan's exports are expected to decline to $23 billion in the current fiscal year from $25 billion of last year, said Tairq Iqbal Puri, Chairman of Trade Development Authority of Pakistan (TDAP) here on Tuesday. Talking to media after the meeting of Na
Published 18 Jan, 2012 12:00am
ICT intensifies drive against profiteers

ICT intensifies drive against profiteers

Islamabad Capital Territory (ICT) Administration has intensified anti-profiteering drive in Islamabad to ensure the availability of food items at the control rate. In this regard, Assistant Commissioner (Secretariat) Islamabad, Nauman Yousuf conducted sur
Published 18 Jan, 2012 12:00am
Security scheme for educational institutions unveiled

Security scheme for educational institutions unveiled

A private security company Pak-Road Travellers Protector Limited will provide security to all private sector educational institutions of Khyber Pakhtunkhwa. Under the security arrangements the company beside installation of CCTV cameras, provision of secu
Published 18 Jan, 2012 12:00am
Lesco collects Rs 12.5 billion in six months

Lesco collects Rs 12.5 billion in six months

Lahore Electric Supply Company (Lesco) collected record Rs 12.5 billion revenue in the first six months of the current FY 2011-12, Lesco spokesman, Javed Ahmad Khan told Business Recorder, here on Tuesday. He said Lesco made 129 percent recovery in the mo
Published 18 Jan, 2012 12:00am
Textile export orders on decline due to energy crisis

Textile export orders on decline due to energy crisis

The industrial units of Faisalabad Region have remained closed for the last 27 days due to indefinite period of gas-shedding and volume of textile export orders have decreased in Heimtextil from 25 million dollars to 3 million this year due to energy cris
Published 18 Jan, 2012 12:00am
ANP criticises PML-N for opposing resolution

ANP criticises PML-N for opposing resolution

Awami National Party (ANP) spokesman Senator Zahid Khan on Tuesday said that by boycotting the resolution in National Assembly to favour strong democratic institutions, Pakistan Muslim League (PML-N) had proved that it did not want supremacy of the parlia
Published 18 Jan, 2012 12:00am
Sindh chief minister, governor discuss political situation

Sindh chief minister, governor discuss political situation

Chief Minister Sindh, Syed Qaim Ali Shah called on Governor Sindh, Dr Ishratul Ebad Khan. A statement issued from the Governor House here on Tuesday said that the prevailing situation, law and order and development works came up for discussion during the
Published 18 Jan, 2012 12:00am
Chinese CG calls on Wasan

Chinese CG calls on Wasan

The Consul General of the Peoples Republic of China in Karachi, Zhang Jianxin, called on the Sindh Home Minister, Manzoor Hussain Wasan, here on Tuesday and discussed matters of mutual interest. The security of the Chinese working in Sindh also came up fo
Published 18 Jan, 2012 12:00am
PJCA to celebrate 60 years of friendship

PJCA to celebrate 60 years of friendship

Pak-Japan Cultural Association (PJCA) will mark the 60 years of Pak-Japan friendship by hosting a lecture on "Life Story of Buddha," said the organisers on Tuesday. Dr Makin Khan would make his presentation at National Museum of Pakistan on January 25, th
Published 18 Jan, 2012 12:00am
Dock workers' protest: operations suspended at Port Qasim

Dock workers' protest: operations suspended at Port Qasim

Operations at Port Qasim on Tuesday remained nearly suspended because the dock workers had closed the entrance of Karachi's second largest harbour to disallow the cargo transportation in and out of the seaport in the fresh protest demonstration, sources s
Published 18 Jan, 2012 12:00am
SECP asks all listed companies to update websites

SECP asks all listed companies to update websites

Security and Exchange Commission of Pakistan (SECP) has asked all listed companies to functionalise and update their websites by May 1, as an initiative aimed at providing investors with cost-effective and easy access to information. The SECP has approved
Published 18 Jan, 2012 12:00am
Ghee prices up by Rs 10 to 15 per kg

Ghee prices up by Rs 10 to 15 per kg

Following the weeklong strike of Oil Tankers Association (OTA), the prices of ghee have drastically gone up by Rs 10 to Rs 15 per kilogram in the markets, Business Recorder learnt on Tuesday. According to the sources, the move of Pakistan Vanaspati
Published 18 Jan, 2012 12:00am
Additional Secretary Defence's car snatched

Additional Secretary Defence's car snatched

A car of Additional Secretary, Defence on Tuesday was snatched at gunpoint near NIPA roundabout in the limits of Gulshan Iqbal police station. According to police, Bashir Ahmad Abbasi, Additional Secretary, Defence, who went to NIPA to attend service cour
Published 18 Jan, 2012 12:00am
Byco Petroleum clarifies

Byco Petroleum clarifies

Byco Petroleum Pakistan Limited has clarified certain statements appearing on the social media websites during the last few days highlighting an internal human resource matter at the company. "While we appreciate the concerns expressed, it is clarified th
Published 18 Jan, 2012 12:00am
Government using delaying tactics in lifting sugar from mills: PSMA

Government using delaying tactics in lifting sugar from mills: PSMA

In spite of showing consent to purchase 0.375 million tons sugar from the millers, the government, after a lapse of several weeks, is using delaying tactics to materialise the formal agreement, Pakistan Sugar Mills Association (PSMA) sources said. They sa
Published 18 Jan, 2012 12:00am
'ECP taking steps for ensuring free, fair elections'

'ECP taking steps for ensuring free, fair elections'

The Election Commission of Pakistan (ECP) is taking all possible steps to make the electoral process more effective for ensuring free, fair and credible elections. This was stated by Secretary ECP Ishtiak Ahmed here on Tuesday.
Published 18 Jan, 2012 12:00am
SLIC selects UBL to sell 'Bancassurance'

SLIC selects UBL to sell 'Bancassurance'

United Bank Limited became the first bank in Pakistan to be signed up by State Life Insurance Corporation to sell their insurance products under Bancassurance. SLIC is the leading State Owned Insurance Corporation of Pakistan with the highest market share
Published 18 Jan, 2012 12:00am
Students demand special concession in tuition fee

Students demand special concession in tuition fee

Students of Kurram Agency have demanded of the government for special concession in their tuition fee and called for immediate steps to regain educational activities in the Agency. Addressing at a news conference, at Peshawar Press Club (PPC) on Tuesday,
Published 18 Jan, 2012 12:00am
KCCA termed WeBOC as unfriendly system for trade

KCCA termed WeBOC as unfriendly system for trade

Karachi Customs Agents Association (KCAA) on Tuesday termed the Web Based One Custom (WeBOC) as unfriendly system for the trade. According to a press release, Faisal Mushtaq, General Secretary KCAA said the newly inducted WeBOC system has so many issues t
Published 18 Jan, 2012 12:00am
Anti-quacks body formed

Anti-quacks body formed

On the special directives of Chief Minister Sindh & Secretary Health Department, District Health Officer Hyderabad Dr Bux Ali Pitafi has constituted eight members anti-quacks committee to take action against quacks in the district. The committee comprises
Published 18 Jan, 2012 12:00am
Chinese dentist, industrialist kidnapped

Chinese dentist, industrialist kidnapped

A Chinese dentist and an industrialist on Tuesday were abducted in separate kidnapping bids in various parts of the metropolis here. According to police, a Chinese dentist namely Dr Chinwongchow was kidnapped from his clinic located at Haqqani Chowk, Oran
Published 18 Jan, 2012 12:00am
'Issuance of contempt notice to Babar Awan regrettable'

'Issuance of contempt notice to Babar Awan regrettable'

Former President of Supreme Court Bar Association (SCBA) Ali Ahmed Kurd said that decision of the Supreme Court to suspend license and issue contempt notice to Dr Babar Awan was regrettable and the court should show restraint with big heart. Ali Ahmed Kur
Published 18 Jan, 2012 12:00am
Ibad visits Mehdi Hassan

Ibad visits Mehdi Hassan

The Governor Sindh, Dr Ishrat ul Ibad Khan, visited a local hospital and inquired about the health of renowned classical singer Mehdi Hassan. He got update about the treatment of Mehdi Hassan. Dr Ishrat assured the family members of the ailing artist that
Published 18 Jan, 2012 12:00am
New Islamic banking branch of Standard Chartered inaugurated

New Islamic banking branch of Standard Chartered inaugurated

As part of Standard Chartered's commitment to provide high quality Shariah-compliant banking products and services to its customers, the bank inaugurated its Islamic Banking (Saadiq) branch at Khayaban-e-Hafiz, DHA, Karachi. This branch provides a compreh
Published 18 Jan, 2012 12:00am
Saad Amanullah elected ABC President

Saad Amanullah elected ABC President

The American Business Council of Pakistan (ABC) is pleased to announce that following its Executive Committee elections, Saad Amanullah Khan, Chief Executive Officer, Gillette Pakistan Ltd, was unanimously elected ABC President and Shabeeh Ikram, General
Published 18 Jan, 2012 12:00am
Faran Sugar Mills Limited

Faran Sugar Mills Limited

One of the top five sugar mills with regards to production Faran Sugar Mills Limited (FSML) was established in 1981 and is a unit of the Amin Bawany Group of Companies. It is a public limited company and its operations are based out of Sheikh Bhirkio, Dis
Published 18 Jan, 2012 12:00am
Faran Sugar Mills Limited

Faran Sugar Mills Limited

One of the top five sugar mills with regards to production Faran Sugar Mills Limited (FSML) was established in 1981 and is a unit of the Amin Bawany Group of Companies. It is a public limited company and its operations are based out of Sheikh Bhirkio, Dis
Published 18 Jan, 2012 12:00am
Raw cotton export: Aptma, KCA criticised for demanding ban

Raw cotton export: Aptma, KCA criticised for demanding ban

Pakistan Cotton Ginners Association (PCGA) has said that Aptma & KCA have no right to demand for imposition of ban on export of raw cotton at the cost of growers as well ginners interest when they have established their cartel to fleece the growers.
Published 18 Jan, 2012 12:00am
Maintaining records: UAF to switch to e-governance system soon

Maintaining records: UAF to switch to e-governance system soon

University of Agriculture, Faisalabad will replace the traditional ways of maintaining official records to e-governance soon for making the system more transparent. This was stated by UAF Vice Chancellor, Professor Dr Iqrar Ahmad Khan while addressing the
Published 18 Jan, 2012 12:00am
PTI for fresh polls under caretaker setup

PTI for fresh polls under caretaker setup

Pakistan Tahreek-e-Insaf (PTI) President Lahore Mahmood-ur-Rasheed has said that the party wants fresh elections under a caretaker set-up because it believes that under the leadership of President Asif Ali Zardari free and fair elections are impossible.
Published 18 Jan, 2012 12:00am
LCWU convocation on January 20

LCWU convocation on January 20

Chancellor and Governor of Punjab, Sardar Latif Khan Khosa will be the chief guest at the convocation of Lahore College of Women University going to be held on January 20. According to spokesperson of the institute, vice-chancellor LCWU, Dr Sabiha Mansoor
Published 18 Jan, 2012 12:00am
Chinese varsities delegation visits Punjab University

Chinese varsities delegation visits Punjab University

A 30-member delegation from Chinese varsities, including Tsinghua University (THU) and Southwest University of Political Science and Law (SWUPL), comprising experts and students visited the Punjab University and held a meeting with Vice-Chancellor Profess
Published 18 Jan, 2012 12:00am
Increase in loadshedding: who is responsible?

Increase in loadshedding: who is responsible?

According to a Business Recorder exclusive, the Finance Ministry's inability to arrange funds to retire part of the inter-circular debt thereby enabling Pakistan State Oil to import fuel critical for power generation would lead to an escalation o
Published 18 Jan, 2012 12:00am
Gilani's speech in NA

Gilani's speech in NA

Prime Minister Gilani has decided to appear before the Supreme Court in response to the contempt of court notice, albeit more as a gesture of condescension than his obligation under the law. That he may not be offering an apology for his consistent refusa
Published 18 Jan, 2012 12:00am
Capital markets

Capital markets

Capital market is an important barometer of the health of an economy and important component of the financial sector. It is a vehicle whereby capital is deployed from sources where it is in excess to the sources where it is in short supply. The capital ma
Published 18 Jan, 2012 12:00am
Labour unrest

Labour unrest

This by no means should be presumed that workers are in no way responsible for labour unrest or for creating problems for employers in the smooth working of industrial and commercial establishments. Of late, there has been an increased tendency in Banks a
Published 18 Jan, 2012 12:00am
Improvisation order of the day in Papua jungle hospital

Improvisation order of the day in Papua jungle hospital

Two doctors working on remote Karkar Island off the northern coast of Papua New Guinea are used to operating with the bare minimum of equipment - to the extent of using the lights in their mobile phones to inspect patients' injuries. Christof and Tanja Ih
Published 18 Jan, 2012 12:00am
Saving democracy

Saving democracy

An anodyne and close scrutiny of the present situation reveals that almost all the ailments afflicting our body-politic and challenges presently confronting the nation - to a greater extent - owe their existence to this unenviable and blatant affront to t
Published 18 Jan, 2012 12:00am
Rs 93 billion disbursed under BISP to beneficiaries, moot told

Rs 93 billion disbursed under BISP to beneficiaries, moot told

A seminar on 'Benazir Income Support Programme (BISP) making difference in the lives of the people' was told that so far Rs 93 billion had been disbursed under the BISP to the beneficiaries since its inception. It was further told that the poverty survey
Published 18 Jan, 2012 12:00am
Former ambassador to Saudi Arabia joins MQM

Former ambassador to Saudi Arabia joins MQM

Umer Khan Ali Sherzai, Pakistan's former ambassador to Saudi Arabia, has joined Muttahida Qaumi Movement (MQM). Sherzai made this announcement while addressing a news conference at MQM headquarters 'Nine Zero', Azizabad on Tuesday. Members MQM Co-ordinati
Published 18 Jan, 2012 12:00am
Two killed in city

Two killed in city

Two persons were killed in different areas of the metropolis here on Tuesday. According to police, a body of youth was found from Lyari Expressway in the limits of Shershah police station. The identity of victim was yet to be ascertained, while police sai
Published 18 Jan, 2012 12:00am
Capital police nab 8 outlaws including a PO

Capital police nab 8 outlaws including a PO

Islamabad Police have arrested eight outlaws including a Proclaimed Offender (PO) from various areas and recovered fake currency and illegal weapons, a police spokesman said on Tuesday. According to the details, ASI Abdul Ghafoor from Tarnol police arrest
Published 18 Jan, 2012 12:00am
Rs two billion released to resume work of Lawari Tunnel: Prime Minister

Rs two billion released to resume work of Lawari Tunnel: Prime Minister

Prime Minister Syed Yousuf Raza Gilani, while chairing a meeting to review PSDP projects of KPK/FATA at the Prime Minister's House on Tuesday, said that the democratic government attaches the highest priority to the socio-economic development of KPK/FATA
Published 18 Jan, 2012 12:00am
Second Global CEO Excellence Awards ceremony held

Second Global CEO Excellence Awards ceremony held

Leadership of over 40 public and private sector companies awarded Global CEO Excellence Awards- at the graceful and high profile ceremony held at a local hotel in Karachi. The Global Media Links (GML) and Business Milestones jointly organised the award ce
Published 18 Jan, 2012 12:00am
USC's performance reviewed

USC's performance reviewed

A two-day zonal managers' conference of Utility Stores Corporation was held here, in which senior management of the corporation along with 10 zonal managers participated. The conference was aimed at examining the overall performance of the corporation and
Published 18 Jan, 2012 12:00am
'Trade linkages between Pakistan, Poland to enhance'

'Trade linkages between Pakistan, Poland to enhance'

Ambassador of Poland in Pakistan, Dr Andrzej Ananciz has said that trade linkages between Pakistan and Poland would further enhance with coming days, saying both the countries have already specify various sectors for agreements in this regard.
Published 18 Jan, 2012 12:00am
Pakistan wants peaceful relations with all its neighbours : Naek

Pakistan wants peaceful relations with all its neighbours : Naek

The Chairman Senate Farooq H. Naek during the Senate Session said that people-to-people contacts particularly exchange of Parliamentary delegations from both neighbouring countries Pakistan and India would herald a new dawn of promising improvement in our
Published 18 Jan, 2012 12:00am
Passports with 10-year validity to be introduced, National Assembly told

Passports with 10-year validity to be introduced, National Assembly told

The government has decided to start issuing the machine-readable passports, to its citizens, for a period of 10 years to address difficulties of the Pakistanis living abroad. Parliamentary Secretary for Interior, Mujtaba Kharral, responding to a call-atte
Published 18 Jan, 2012 12:00am
Fire breaks out at cotton warehouse

Fire breaks out at cotton warehouse

A fire broke out at cotton warehouse located in Korangi Industrial Area on late Tuesday. According to official in Fire Brigade department, the fire gutted the cotton warehouse located in sector V-A and burnt huge quantity of cotton stock into ashes. Some
Published 18 Jan, 2012 12:00am
Rs 20 million for Lahore Museum renovation released

Rs 20 million for Lahore Museum renovation released

Punjab government has released a special grant of Rs 20 million for the repair and renovation of Lahore Museum's building. Punjab Communication and Works department will complete the project by June 2012 while services of renowned architect Nayyer Ali Dad
Published 18 Jan, 2012 12:00am
Sweet! Cinnabon(r) opens newest location in Karachi

Sweet! Cinnabon(r) opens newest location in Karachi

Homer Simpson loves them. Jerry Seinfeld wants to marry them. And now Karachi residents can enjoy the world famous cinnamon rolls filled with the company's signature Makara(r) Cinnamon. Cinnabon, announces the opening of its third bakery, located at 1st F
Published 18 Jan, 2012 12:00am
'MQM against creation of new provinces on ethnic, linguistic grounds'

'MQM against creation of new provinces on ethnic, linguistic grounds'

Muttahida Qaumi Movement (MQM) Deputy Parliamentary leader Syed Haider Abbas Rizvi on Tuesday said that his party was against creation of new provinces on ethnic and linguistic grounds. Keeping in view geographical boundaries, new administrative units sho
Published 18 Jan, 2012 12:00am
Government always respected Supreme Court, implemented decisions: Malik

Government always respected Supreme Court, implemented decisions: Malik

Interior Minister Rehman Malik on Tuesday said that the government had always respected the apex court and implemented its decisions. Talking to media at Parliament House, he said that the opposition was using various tactics to deprive Pakistan People's
Published 18 Jan, 2012 12:00am
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