News Archives for Latest - 2012-02-05

BR Research

Mobile spectrum auction: avoid the controversy, please!

The Indian Supreme Court ruling of February 2 - which canceled 122 telecom licenses issued in 2008, on grounds of under-pricing and alleged

Published 05 Feb, 2012 12:00am

BR Research

Facebook under growing public scrutiny

When you are big and you go public, strict scrutiny will naturally follow you around. And social networking giant Facebook will vouch for th

Published 05 Feb, 2012 12:00am

BR Research

A round-up on mutual funds

Despite interest rate volatility, political uncertainty and turbulent equity market, the mutual funds industry registered 16 percent growth,

Published 05 Feb, 2012 12:00am

How does Pakistan's economy fare in region?

In a Business Recorder exclusive the Finance Division, while briefing the Economic Co-ordination Committee of the Cabinet headed by the Finance Minister Dr Hafeez Sheikh, reportedly admitted that inflation in Pakistan was the second highest in th

Published 05 Feb, 2012 12:00am

ECP gets centre stage

That perception the government and the opposition hold of the present Election Commission of Pakistan and its capacity to deliver as an impartial entity do not match well is a fact. Even when they agreed on remodelling the commission's structure and its p

Published 05 Feb, 2012 12:00am

The sorry tale

From 1958 to 1969, the Golden Sixties, country's GDP growth jumped to an average annual rate of 6 percent from 3 percent in the 1950s, the manufacturing sector expanded by 9 percent annually. Pakistan's manufactured exports were higher than the exports of

Published 05 Feb, 2012 12:00am

Obama, Republicans in war of words over jobs

US unemployment fell in January to a rate last seen just after President Barack Obama entered office three years ago, but as the economy looms as the central issue of the 2012 presidential election, Republicans wasted no time in pummelling him. Government

Published 05 Feb, 2012 12:00am

PPP and Kashmir

The valley of Kashmir is the most beautiful, geographical entity on earth and its ravishing landscape has been impressing the visitors for centuries. When the Mughal Emperor Jehangir came to Kashmir he was so spellbound by its calmness that he exclaimed:

Published 05 Feb, 2012 12:00am

Logs, pot, broth and lid

Consider the following items - logs, pot, broth and lid. Logs as fuel, pot to hold the broth and lid to stop the spillover of boiling broth. Now, think of Pakistan and take the logs to be the public; the pot as the democratic system; the broth as composed

Published 05 Feb, 2012 12:00am

Cotton production estimates, prices fluctuate: analysis

The cotton production estimates and prices kept fluctuating mainly benefiting the consumers who have an eye on EU package that has been Okayed by WTO committee. The spot opened at Rs 5800 and during the week which closed on February 4,2012 was reduced by

Published 05 Feb, 2012 12:00am

Cotton production estimates, prices fluctuate: analysis

The cotton production estimates and prices kept fluctuating mainly benefiting the consumers who have an eye on EU package that has been Okayed by WTO committee. The spot opened at Rs 5800 and during the week which closed on February 4,2012 was reduced by

Published 05 Feb, 2012 12:00am

SKMCH holds medical education lecture on pneumonia

Shaukat Khanum Memorial Cancer Hospital and Research Centre has organised a continuing medical education lecture on the topic of "Approach to patient with non-resolving pneumonia" for general medical practitioners. Dr Irtaza Khan, who was the presenter on

Published 05 Feb, 2012 12:00am

Commodities' prices depict normal fluctuations in line with global trends

Some essential commodities showed changes in prices while the most items had nominal fluctuation in line with global trends during the week ended on February 4, 2012.

Published 05 Feb, 2012 12:00am

18 cops awarded punishments

18 cops have been awarded different punishments including dismissal from service by City Police Officer (CPO) Azhar Hameed Khokhar on various charges. According to details, the CPO took action against the cops here during a meeting held at Police Line No-

Published 05 Feb, 2012 12:00am

Kashmiris want settlement of dispute: Geelani

Veteran Kashmiri Hurriyet leader, Syed Ali Geelani has said that Kashmiris are not against India's integrity but want it to resolve the Kashmir dispute in accordance with their aspirations.

Published 05 Feb, 2012 12:00am

Over 0.3 million cancer cases reported every year

More than 0.3 million cases of cancer are reported in Pakistan every year and to cope with the same number of patients within the existing 20 cancer hospitals throughout the country is a big challenge for the government. Khyber Pakhtunkhwa Minister for Fi

Published 05 Feb, 2012 12:00am

National Assembly Speaker urges Ummah to follow teachings of Holy Prophet

Dr Fehmida Mirza, National Assembly Speaker, has said that the Prophet Hazrat Muhammad (PBUH) is emblem of tranquillity, justice, modesty, peace, love and brotherhood. She said that Ummah should seek salvage from the difficulties by following and practici

Published 05 Feb, 2012 12:00am

42 Afghan nationals arrested in Taftan

A law enforcement agency on Saturday arrested 42 Afghan nationals who were trying to enter Iran illegally. Law enforcement agency personnel deployed on Pak-Iran border gate in border town of Taftan asked them to produce travelling documents. They were tak

Published 05 Feb, 2012 12:00am

Hike in POL prices: Khyber Pakhtunkhwa traders, transporters to launch protest campaign

Trading bodies and transporters of Khyber Pakhtunkhwa on Saturday announced to launch protest campaign against the recent hike in POL products and increasing power and gas tariff. The announcement was made during a protest camp jointly set up by All Pakis

Published 05 Feb, 2012 12:00am

IN SHORT: Arabica seen rising slightly

Arabica coffee futures are likely to rise 1.4 percent by the end of 2012 but stay well below a 14-year peak hit last year as concerns about the global economy may overshadow prospects of a supply deficit, a Reuters poll showed on Wednesday. Rising output

Published 05 Feb, 2012 12:00am

IN SHORT: Platts to widen Brent benchmark

Oil price assessment service Platts said more crudes may be added to its North Sea dated Brent quote as soon as this year or 2013 to prepare for further declines in supplies from the home of the global benchmark. Jorge Montepeque, Platts' global director

Published 05 Feb, 2012 12:00am

IN SHORT: Dubai sugar refinery operates start, stop strategy

The Dubai Al Khaleej sugar refinery, facing competition from containerised European sugar, is operating a start-and-stop strategy, filling silos, then stopping and resuming operations when stores have wound down. Managing Director Jamal Al Ghurair, speaki

Published 05 Feb, 2012 12:00am

IN SHORT: Ivory Coast 2011 cotton exports down

Exports of cotton from Ivory Coast totalled 95,732 tonnes from January to December 2011, down more than 44 percent compared with the same period the year before, provisional port data showed on Monday. The sharp fall was the result of a violent post-elect

Published 05 Feb, 2012 12:00am

Commodity markets mainly stay lower

Commodities mostly fell this week as traders balanced the weaker dollar and stalled Greek debt talks against ongoing Iran tensions and improving global economic data. Some markets trimmed their losses after Friday's upbeat non-farm payrolls (NFP) report i

Published 05 Feb, 2012 12:00am

Indian white sugar steady on speculation; Thai raws in demand

Thai raw sugar premiums held steady this week, shored up by Asian buyers despite rising supply, and Indian prices were also unchanged ahead of speculation that the government will soon decide to allow more exports, dealers said on Wednesday. A few cargoes

Published 05 Feb, 2012 12:00am

Global cocoa deficit to lift prices

Demand for cocoa, the key ingredient in chocolate, is widely expected to surpass supply in the current crop year, helping prices to recover some of the ground lost last year, a Reuters poll of 20 analysts and dealers showed.

Published 05 Feb, 2012 12:00am

Thai rice exports plunge, India to sell more grain

Thai rice exports slumped by more than half in January from a year earlier, which traders blamed on a government intervention scheme, while India continued to sell more grain after its government eased export curbs. Thailand, the world's biggest rice expo

Published 05 Feb, 2012 12:00am

Vietnam coffee premiums jump

Robusta sellers in top producer Vietnam jacked up premiums to offset declines in London futures, while beans from the new harvest in Indonesia began entering the physical market and were snapped up by roasters, dealers said on Friday. New-crop beans from

Published 05 Feb, 2012 12:00am

US wheat prices to fall nearly seven percent in 2012

Chicago Board of Trade wheat futures are expected to fall 6.7 percent this year from their 2011 close as plentiful world supplies crimp demand for US wheat on the export market, a Reuters poll found. A drop would be the fourth annual decline in the wheat

Published 05 Feb, 2012 12:00am

US gold falls on jobs, posts small weekly loss

Gold fell 1 percent on Friday, its biggest one-day loss in over a month, after encouraging US payrolls data smashed hopes of extra stimulus from the Federal Reserve, which had been priced into bullion's recent rally. Wall Street and industrial commodities

Published 05 Feb, 2012 12:00am

Malaysia to reform palm oil export duty policies

Malaysia will reform its crude palm oil (CPO) export duty policy and introduce a one billion ringgit ($331.29 million) fund to rescue refiners affected by Indonesia's export tax structure, The Star reported on Friday, citing unidentified sources.

Published 05 Feb, 2012 12:00am

'Poor are disproportionately exposed to violence,' Dr Sabina Alkire

BR Research: Please elaborate on the efficacy of the MPI index and how it adds to insights about incidence of poverty in a country, Dr Sabina Alkire: The MPI is an international measure of acute poverty that measures deprivations in three dimensions: educ

Published 05 Feb, 2012 12:00am

'Poor are disproportionately exposed to violence,' Dr Sabina Alkire

BR Research: Please elaborate on the efficacy of the MPI index and how it adds to insights about incidence of poverty in a country, Dr Sabina Alkire: The MPI is an international measure of acute poverty that measures deprivations in three dimensions: educ

Published 05 Feb, 2012 12:00am

Survey results: over 96 percent taxpayers unaware of 'Starrs' and 'Streams'

Over 96 percent of taxpayers including business and trade are unaware of the overall sales tax reforms particularly automated sales tax refund systems ie Sales Tax Automated Refund Repository System (Starrs) and Sales Tax Risk Evaluation and Management Sy

Published 05 Feb, 2012 12:00am

Political victimisation: police accused of implicating PML-N worker in false case

In an interesting case, Shahzad Town Police made political worker of Pakistan Muslim League-Nawaz (PML-N) a political victim by booking him in a FIR that was registered against unknown protestors who blocked Islamabad Highway near airport to protest again

Published 05 Feb, 2012 12:00am

Call to ensure effective, speedy tax reforms

Pakistan Economy Forum has stressed improvements in tax to GDP ratio, which is not increasing significantly, fiscal crisis is deepening; taxes are insufficient for debt service and defence. The reform of tax administration is the single important economic

Published 05 Feb, 2012 12:00am

SVIS fails to achieve desired results: only 14 vehicles recovered

The Stolen Vehicles Information System (SVIS), launched by the capital police in August last year, has failed to achieve the desired results as the city police have only recovered 14 vehicles through SVIS and uploaded the data of only 0.5 million vehicles

Published 05 Feb, 2012 12:00am

US urges international community to fund Afghan troops

US Defence Secretary Leon Panetta urged the international community on Saturday to help pay for strong Afghan security forces despite world-wide economic pressure. The United States is spending around $12 billion a year (2.3 billion euros) to train the Af

Published 05 Feb, 2012 12:00am

Bosnia passes laws key to EU bid, Muslims agree to census

Bosnia passed laws on Friday seen as crucial to reviving its European Union accession bid, with Serb, Croat and Muslim leaders agreeing to the first census since 1991 and to a single state-level body to co-ordinate EU aid programmes. Muslims, Bosnia's lar

Published 05 Feb, 2012 12:00am

Civilian deaths in Afghan war up for fifth straight year: UN

More than 3,000 civilians were killed in the war in Afghanistan in 2011, the fifth year in a row the number has risen, the United Nations said on Saturday in a report likely to revive tension between the Afghan government and its Western backers. Civilian

Published 05 Feb, 2012 12:00am

Charges dropped against US soldier in Afghan murder case

The US Army has dismissed all charges against the last of five soldiers to face a court-martial in the slaying of unarmed Afghan civilians, officials from their home base near Tacoma, Washington, said on Friday. Army Specialist Michael Wagnon had been cha

Published 05 Feb, 2012 12:00am

Russians stage rival protests over Putin

Tens of thousands of Russians defied bitter cold in Moscow on Saturday to demand fair elections in a march against Vladimir Putin's 12-year rule, while supporters of the prime minister staged a rival rally drawing comparable numbers. S maller protests wer

Published 05 Feb, 2012 12:00am

Europe cold snap claims 260 lives, causes ferry scare

Hundreds of people were rescued Saturday after a ferry caught in a snow storm hit a breakwater off Italy, as a vicious cold snap that has claimed over 260 lives across Europe maintained its grip. Ukraine has suffered the heaviest toll of 122 deaths, inclu

Published 05 Feb, 2012 12:00am

Flights from UK's Heathrow hit

London's Heathrow Airport said it would operate a much reduced service on Sunday with snow and freezing temperatures predicted to hit much of England over the weekend. Heavy snow is forecast overnight across central and southern England, with a possibilit

Published 05 Feb, 2012 12:00am

US Army approves WikiLeaks suspect's court martial

The US Army said in a statement Friday that it had approved a recommendation that Bradley Manning be court-martialed for allegedly funneling hundreds of thousands of classified documents to WikiLeaks. The decision clears the way to set a date for Manning,

Published 05 Feb, 2012 12:00am

Saudi activists sue government over driving ban

Two Saudi female activists have filed law suits against the government for refusing to issue them driver's licences and banning them from driving a car, they told AFP on Saturday. Manal al-Sherif, the icon of an Internet campaign launched last year urging

Published 05 Feb, 2012 12:00am

Veteran film, stage actor Ben Gazzara dies

Actor Ben Gazzara, known for his brooding tough-guy presence in dozens of films, television shows and stage productions over his long career, died of pancreatic cancer on Friday at a Manhattan hospital, his lawyer said. He was 81. The New York-born perfor

Published 05 Feb, 2012 12:00am

Egypt clashes ease

Clashes between rock-throwing protesters and riot police eased in Egypt on Saturday as activists argued over how to build momentum in their push to oust the country's ruling generals. Six people have been killed in Cairo and Suez in street battles between

Published 05 Feb, 2012 12:00am

Romney looks to boost front-runner status in Nevada

With a huge lead in polls, US Republican front-runner Mitt Romney appears poised for an easy win in Nevada on Saturday that would put him in firm command of the party's see-sawing presidential nominating race. A Nevada victory would be Romney's second win

Published 05 Feb, 2012 12:00am

Nasdaq vaults to 11-year high on surge in US jobs

A surge in hiring in the world's largest economy last month drove the Nasdaq to an 11-year high on Friday as optimism grew that the labour market is on a steady path to recovery. The broad-based gains on solid trading volume also sent the Dow Jones indust

Published 05 Feb, 2012 12:00am

Week ahead: focus returns to Europe

Europe will again be at the centre of investors' focus next week as the US earnings season passes the halfway mark and there is little on the economic calendar to give the market direction. Economic data expected next week includes weekly initial jobless

Published 05 Feb, 2012 12:00am

Bonds sell off as jobs report cuts bets on stimulus

US Treasuries prices plunged on Friday as a surge in US payrolls surprised investors who had bought bonds aggressively last week after the Federal Reserve vowed to keep ultra-low interest rates until late 2014. Benchmark 10-year Treasuries lost one point

Published 05 Feb, 2012 12:00am

Bonds sell off as jobs report cuts bets on stimulus

US Treasuries prices plunged on Friday as a surge in US payrolls surprised investors who had bought bonds aggressively last week after the Federal Reserve vowed to keep ultra-low interest rates until late 2014. Benchmark 10-year Treasuries lost one point

Published 05 Feb, 2012 12:00am

Japanese bonds mixed

Japanese government bonds were mixed on Friday, as caution prevailed and limited market activity ahead of the US nonfarm payrolls report later in the session. Yields on both five- and 20-year JGBs hit 10-week lows in early trade in a catch-up to strong re

Published 05 Feb, 2012 12:00am

Japanese bonds mixed

Japanese government bonds were mixed on Friday, as caution prevailed and limited market activity ahead of the US nonfarm payrolls report later in the session. Yields on both five- and 20-year JGBs hit 10-week lows in early trade in a catch-up to strong re

Published 05 Feb, 2012 12:00am

Latam stocks hit six-month high

Latin American stocks rose to a six-month high on Friday on strong jobs data in the United States and a surge in volume suggested investors are betting on further gains ahead. The MSCI Latin American stock index rose for a fourth straight day to its highe

Published 05 Feb, 2012 12:00am

Sri Lanka's central bank allow rupee fall; stocks slip

Sri Lanka's central bank depreciated the rupee currency by 20 cents on Friday after it surprised the markets by tightening monetary policy with a 50 basis point policy rate hike earlier in the day. The central bank's relaxation of the exchange rate comes

Published 05 Feb, 2012 12:00am

Sunshine Oilsands postpones $700 million IPO

Sunshine Oilsands Ltd, a Canadian oil explorer backed by Chinese state-owned enterprises, has delayed the launch of a planned up to $700 million initial public offering in Hong Kong that was expected to be the biggest new listing in Asia this year, The Wa

Published 05 Feb, 2012 12:00am

TSX hits highest close in four months

Canadian stocks closed at their highest level in nearly four months on Friday, boosted by financial and energy issues as surprisingly healthy US employment figures offset sluggish Canadian jobs data and uncertainty over a Greek debt deal. US job creation

Published 05 Feb, 2012 12:00am

NYSE Euronext plans to focus on smaller deals

NYSE Euronext plans to focus on smaller deals and returning capital to its shareholders after its failed $7.4 billion merger with Deutsche Boerse, the company's chief executive said on Friday. "I would not expect us, nor anyone else in the industry, to do

Published 05 Feb, 2012 12:00am

US jobs data boosts ADRs; banks strong

US-listed shares of overseas companies rose more than 1 percent on Friday as stronger-than-expected US jobs data lifted hopes for a strengthening economy and gave an extra boost to bank ADRs. Financials, the worst-performing sector on the US S&P 500 last

Published 05 Feb, 2012 12:00am

Indian corporate bond yields fall

Indian corporate bond yields fell on Friday on hopes the central bank's buying of government bonds will help ease tight cash conditions, providing room for primary deals. The five-year benchmark corporate bond yield fell 4 basis points to 9.30 percent, wh

Published 05 Feb, 2012 12:00am

Indian corporate bond yields fall

Indian corporate bond yields fell on Friday on hopes the central bank's buying of government bonds will help ease tight cash conditions, providing room for primary deals. The five-year benchmark corporate bond yield fell 4 basis points to 9.30 percent, wh

Published 05 Feb, 2012 12:00am

Colombia bourse aims to double foreign investment

Colombia seeks to double the volume of foreign investment in its stock market within four years and attract new interest to the corporate bond market in a bid to raise the Andean nation's profile and boost liquidity, according to the head of the stock exc

Published 05 Feb, 2012 12:00am

Dollar up versus yen on jobs data

Robust US jobs data spurred investors to buy the US dollar and sell yen on Friday with the rosier economic report curtailing some expectations the US Federal Reserve will hold off raising interest rates until 2014.The strong jobs data diminished the green

Published 05 Feb, 2012 12:00am

Brazil real strengthens

The Brazilian real closed firmer on Friday, extending its winning streak to four straight days after shrugging off central bank intervention aimed at stemming a rise in the currency that could potentially hurt profits of exporters and manufacturers.

Published 05 Feb, 2012 12:00am

Australian and New Zealand dollars to dip only modestly in 2012

The high-flying Australian and New Zealand dollars may pull back modestly in the coming months on global concerns, but will continue to be supported by their status as commodity currencies, a Reuters poll showed.The median forecast of more than 50 analyst

Published 05 Feb, 2012 12:00am

Mexican peso firms

Mexico's peso firmed by more than 1 percent on Friday to 12.6683 pesos per US dollar. The local currency had reached its strongest level in more than four months on Thursday, tracking a sharp gain in the euro against the dollar.

Published 05 Feb, 2012 12:00am

Wary of Fed-driven yen spike, BoJ poised to act

When the Federal Reserve flagged a new round of aggressive monetary easing back in August 2010, the yen rally that followed wrong-footed Japanese central bankers and forced them to act under pressure from angry politicians and fast-moving markets.

Published 05 Feb, 2012 12:00am

Sterling seen steady against euro

Sterling will cruise at current levels against the battered euro despite growing optimism about the British economy's ability to outperform a euro zone still gripped by the sovereign debt crisis, a Reuters poll found on Thursday. The pound will trade agai

Published 05 Feb, 2012 12:00am

Reserve managers shun euro for Nordics, Aussie dollar

The Swedish crown and the Australian dollar are set for further gains in the coming year as central banks, sovereign wealth funds and other longer-term investors seek alternatives to the euro. The euro zone debt crisis has deepened since late last year, i

Published 05 Feb, 2012 12:00am

Younis, Azhar help Pakistan thwart England

Experienced batsman Younis Khan proved his class with a superb hundred to put Pakistan in a good position on the second day of the third and final Test against England played here on Saturday. The 34-year-old right-hander scored an unbeaten 115 to repair

Published 05 Feb, 2012 12:00am

Released Aamer faces uncertain future

Teenage Pakistan paceman Mohammad Aamer faces an uncertain future following his release from jail this week after serving half of a six-month-sentence for his role in a spot-fixing scandal. The 19-year-old's burgeoning career was cut short when he pleaded

Published 05 Feb, 2012 12:00am

Sahara withdraws Indian cricket sponsorship, IPL team

Sahara Group has pulled out of its sponsorship deal with the Indian cricket board and the Pune franchise of the Indian Premier League (IPL), the diversified business conglomerate said on Saturday. Citing instances where it has been denied "natural justice

Published 05 Feb, 2012 12:00am

Sharapova puts Russia ahead in Fed Cup

Maria Sharapova put Russia 1-0 up over Spain in their Fed Cup World Group first round tie here on Saturday by defeating Silvia Soler-Espinosa 6-2, 6-1. Playing for the first time since losing in straight sets to Viktoria Azarenka in the final of the Austr

Published 05 Feb, 2012 12:00am

Beckham sent off at kids' match

Football icon David Beckham was shown the red card and ordered out of a park while watching a children's match, he said in an interview to be screened Saturday. The former England captain was sent off after protesting a decision to send off one of the you

Published 05 Feb, 2012 12:00am

Jadeja hits IPL jackpot, England players ignored

Indian all-rounder Ravindra Jadeja fetched a bid worth more than $2 million, the highest in Saturday's Indian Premier League (IPL) auction, while there was no taker for frontline England players. Less than 24 hours after Jadeja's man-of-the-match performa

Published 05 Feb, 2012 12:00am

Van Persie hits hat-trick as Arsenal crush Blackburn 7-1

Robin van Persie scored a hat-trick as Arsenal crushed a woeful Blackburn Rovers 7-1 to chalk up their first league victory of 2012 at the Emirates Stadium on Saturday. Thierry Henry, with his first League goal since he returned to the club last month, co

Published 05 Feb, 2012 12:00am

Stanford had secret fund for bribes, yacht

Texas financier Allen Stanford drew on a secret Swiss bank account for personal expenses such as yacht maintenance and to pay bribes, the government's top witness said at Stanford's fraud trial on Friday. Stanford, 61, is accused of bilking thousands of i

Published 05 Feb, 2012 12:00am

Piramal raises stake in Vodafone India unit

India's Piramal Healthcare Ltd said on Saturday it would buy a 5.5 percent stake in Vodafone's India unit from Essar for 30 billion rupees ($616.14 million), taking its total stake in the mobile company to about 11 percent. The sale will mark the exit of

Published 05 Feb, 2012 12:00am

EU to release new quarterly debt indicator

The European Union's statistics office Eurostat will release quarterly debt figures by country from Monday as the 27-nation bloc steps up its economic monitoring two years into a sovereign debt saga that is sapping the vigour out of its economy.

Published 05 Feb, 2012 12:00am

Greece struggles on for deal on unpopular reforms

Greece's government on Saturday struggled on in talks with lenders to secure a 130 billion euro bailout before turning to the trickier task of persuading political leaders to back the unpopular reforms involved in the rescue. On the brink of bankruptcy, A

Published 05 Feb, 2012 12:00am

Deutsche Bank chief on way to Greece, 'make or break' time

The head of Deutsche Bank, Germany's biggest lender, warned Saturday that Europe faced a "make or break" moment as he prepared to fly to Greece amid debt talks between Athens and private creditors. Speaking at the Munich Security Conference, Josef Ackerma

Published 05 Feb, 2012 12:00am

Bank recapitalisation agreed

Greece has agreed with euro zone partners on how to recapitalise Greek banks after a planned bond swap, but has yet to resolve issues related to labour reform and spending cuts in talks with lenders, the country's finance minister said on Saturday.

Published 05 Feb, 2012 12:00am

European hedge fund stars profit in buoyant January

Star European hedge fund managers including Crispin Odey and Pierre Lagrange were among the top performers in an upbeat January for the industry, as the European Central Bank's cash boost for battered banks fuelled a stock market rally. Shrugging off a di

Published 05 Feb, 2012 12:00am

European hedge fund stars profit in buoyant January

Star European hedge fund managers including Crispin Odey and Pierre Lagrange were among the top performers in an upbeat January for the industry, as the European Central Bank's cash boost for battered banks fuelled a stock market rally. Shrugging off a di

Published 05 Feb, 2012 12:00am

Goldman Sachs aiming for growth in Europe

Goldman Sachs is aiming for more growth in Europe, the group's chief operating officer was quoted as saying in an interview with a Swiss newspaper published on Saturday. "It is definitely our goal to win an even bigger market share in Europe. and this in

Published 05 Feb, 2012 12:00am

Obama presses Congress to pass aid to homeowners

President Barack Obama on Saturday pressed US lawmakers to pass his proposal to provide up to $10 billion in aid to struggling homeowners, saying a failure to address the housing crisis would put the rest of the economy at risk.

Published 05 Feb, 2012 12:00am

Colombia restarts dollar buying Programme

Colombia's central bank on Friday re-established buying at least $20 million daily for at least three straight months to help stem gains in the currency amid pressure from exporters. Emerging market nations such as Colombia have faced a flood of cheap mon

Published 05 Feb, 2012 12:00am

Exxon, Petrom find gas in Black Sea shelf

Energy giants ExxonMobil and OMV Petrom said Saturday they have found gas deposits in the Romanian part of the Black Sea continental shelf, a month after they began explorations in the area. "The first deepwater well drilled by ExxonMobil and OMV Petrom i

Published 05 Feb, 2012 12:00am

Vatican officials contest corruption charges

In the latest twist of a messy internal conflict shaking the Vatican, four clerics in the office that manages the tiny city-state on Saturday rejected charges of corruption, mismanagement and greed levelled by a former deputy governor. The four said in a

Published 05 Feb, 2012 12:00am

Washington Occupy protesters comply with no-camping rule

Some 150 "Occupy" movement protesters who have been camped at a park near the White House since October peacefully removed gear on Saturday after police moved in at dawn to enforce a no-camping rule. The US Park Police said there had been no arrests of th

Published 05 Feb, 2012 12:00am

Gazprom says unable to meet greater Europe gas demand

Russian gas exporter Gazprom has brought supplies to Europe back up to normal after reducing them "for a few days", but it is unable to meet increased demand amid freezing weather, a company official told Russian Prime Minister Vladimir Putin on Saturday.

Published 05 Feb, 2012 12:00am

EU sanctions slash Ukraine's maize exports to Iran

Ukraine's maize exports to Iran dropped 40 percent in January due to problems collecting payment from Iranian buyers after the European Union tightened sanctions, a leading Ukrainian agricultural consultancy said on Friday. Ukrainian and European traders

Published 05 Feb, 2012 12:00am

Corn export premiums steady at US Gulf Coast

Corn export premiums at the US Gulf Coast held steady on Friday on solid demand as forecasts for reduced Argentine production and exports suggested prices were well supported at current levels, traders said. Analytical firm Informa Economics slashed its A

Published 05 Feb, 2012 12:00am

India's rubber imports set to fall from March

India's natural rubber imports are set to fall from March as Thailand's move to intervene in the market has pushed up world prices making overseas buying expensive for Indian tyre makers, industry officials said. Thailand government's decision last week t

Published 05 Feb, 2012 12:00am

Brazil's coffee exporter sees large but not record crop

Brazil will produce 55.8 million 60-kg bags of coffee in the upcoming harvest, exporter Comexim estimated on Friday, less than what it estimates was a record crop of around 60 million bags two seasons ago. Brazil is the world's top coffee producer and the

Published 05 Feb, 2012 12:00am

Canadian canola futures rise

ICE Canadian canola futures rose on Friday, posting their third straight weekly gain and racking up the biggest daily volume for the contract in years. Statistics Canada reported a slightly smaller canola supply at December 31 than a year ago, but the est

Published 05 Feb, 2012 12:00am

Top Argentine grains company poised for hefty corn losses

Argentina's MSU, one of South America's biggest grain producers, says this season's sharp drought will slash 30 percent off its corn harvest although soy crops should escape largely unscathed. MSU also farms in neighbouring Brazil, Uruguay and Paraguay, a

Published 05 Feb, 2012 12:00am

Asia to get 150,000 tonnes of heavier naphtha grades

About 150,000 tonnes of mainly heavier naphtha grades will be shipped to Asia from the Mediterranean in March, but a shortage in Europe is likely to halt further shipments to Asia, traders said on Thursday. The volumes are mainly heavy full-range and heav

Published 05 Feb, 2012 12:00am

Message from Vice Chancellor

The historic role of Allama Iqbal Open University in Pakistan's educational development is a matchless and splendid example of serving the nation. Providing primary to higher education across the country, specifically in far flung rural areas, AIOU is pro

Published 05 Feb, 2012 12:00am

AIOU System of Education

The main components of its multi media educational system are as under:

Published 05 Feb, 2012 12:00am

Students Profile

It is a matter of great honour for Allama Iqbal Open University that it has provided basic to higher level education to millions of students and 70 percent graduates are employed in different sectors. The ratio of rural and urban students is 58 percent an

Published 05 Feb, 2012 12:00am

How to obtain and submit Admission Forms

Admission forms and prospectuses for all programmes offered in Spring 2012 Semester can be obtained from the sale points at Main Campus, Regional Campuses and Co-ordinating Offices within the country.

Published 05 Feb, 2012 12:00am

Aaj TV - Sunday's schedule

All timings are in PST (Pakistan Standard Time).

Published 05 Feb, 2012 12:00am

Currency values in terms of Special Drawing Rights

The International Monetary Fund (IMF), treasuries' department's currency values in terms of Special Drawing Rights (SDR).

Published 05 Feb, 2012 12:00am

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (February 04, 2012).

Published 05 Feb, 2012 12:00am

Member to Member

The following transactions member to member subsequently reported on Saturday (February 04, 2012).

Published 05 Feb, 2012 12:00am

Cross Transactions between Client to Client & Financial Institutions

The following were the cross transactions between client to client & financial institutions here on Saturday (February 04, 2012).

Published 05 Feb, 2012 12:00am

THE RUPEE: rates keep coming down

The rupee was slightly down versus dollar on the currency market during the week ended on February 4, 2012. In the interbank market, the rupee dropped five paisa against dollar for buying at 90.40 and five paisa for selling at 90.45.

Published 05 Feb, 2012 12:00am

THE RUPEE: rates keep coming down

The rupee was slightly down versus dollar on the currency market during the week ended on February 4, 2012. In the interbank market, the rupee dropped five paisa against dollar for buying at 90.40 and five paisa for selling at 90.45.

Published 05 Feb, 2012 12:00am

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (February 04, 2012).

Published 05 Feb, 2012 12:00am

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (February 04, 2012).

Published 05 Feb, 2012 12:00am

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (February 04, 2012).

Published 05 Feb, 2012 12:00am

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (February 04, 2012).

Published 05 Feb, 2012 12:00am

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (February 04, 2012).

Published 05 Feb, 2012 12:00am

Lahore Paper Market Rates

Paper market rates in rupees on Saturday (February 04, 2012).

Published 05 Feb, 2012 12:00am

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (February 04, 2012).

Published 05 Feb, 2012 12:00am

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (February 04, 2012).

Published 05 Feb, 2012 12:00am

The Weather

The weather report on Friday (February 04, 2012) and the forecast for Saturday (February 04, 2012).

Published 05 Feb, 2012 12:00am

Your rupee last week

Following currency fluctuations took place in foreign exchange rates during the last week. (January 30 2012 to February 04, 2012).

Published 05 Feb, 2012 12:00am

Returns on Profit and Loss Sharing Investment Bank Accounts (JULY TO DECEMBER 2011)

Comparative table of returns being given banks on their Profit and Loss Sharing Investment Accounts and Term Deposits.

Published 05 Feb, 2012 12:00am

SUNDAY FEBRUARY 05: Government in hot water over fiscal deficit

Published 05 Feb, 2012 12:00am

SUNDAY FEBRUARY 05: PCA Directorate detects huge tax fraud case

Published 05 Feb, 2012 12:00am

SATURDAY FEBRUARY 04: Pakistan, Indonesia sign crucial PTA

Published 05 Feb, 2012 12:00am

SATURDAY FEBRUARY 04: Coalition government to present fifth annual budget: Prime Minister

Published 05 Feb, 2012 12:00am

FRIDAY FEBRUARY 03: Increase in POL products' prices: National Assembly committee to review decision

Published 05 Feb, 2012 12:00am

FRIDAY FEBRUARY 03: PDL and GST on POL items: only parliament to decide abolition or reduction, says Asim

Published 05 Feb, 2012 12:00am

THURSDAY FEBRUARY 02: 75 products from Pakistan: WTO okays EU duty waiver

Published 05 Feb, 2012 12:00am

THURSDAY FEBRUARY 02: I'm very happy'

Published 05 Feb, 2012 12:00am

WEDNESDAY FEBRUARY 01: Prices raised significantly

Published 05 Feb, 2012 12:00am

WEDNESDAY FEBRUARY 01: 10 percent surcharge on CNG from today

Published 05 Feb, 2012 12:00am

TUESDAY JANUARY 31: Power ministry, MoF and FBR team up: 16 percent GST on hydro power to push up tariff

Published 05 Feb, 2012 12:00am

TUESDAY JANUARY 31: One million bales of cotton: MoC, MoF oppose procurement from ginners

Published 05 Feb, 2012 12:00am

MONDAY JANUARY 30: Economic indicators positive: Extension in Pasha's contract not discussed: Prime Minister

Published 05 Feb, 2012 12:00am

MONDAY JANUARY 30: POL prices: statement beyond minister's mandate: Prime Minister

Published 05 Feb, 2012 12:00am

Looming default: PSO asks government to immediately release Rs 150 billion

The Pakistan State Oil (PSO) has requested the government to release Rs 150 billion, urgently so that it could pay outstanding liabilities to avoid the looming default, which at present stands at Rs 188 billion. According to sources, PSO's total circular

Published 05 Feb, 2012 12:00am

Looming default: PSO asks government to immediately release Rs 150 billion

The Pakistan State Oil (PSO) has requested the government to release Rs 150 billion, urgently so that it could pay outstanding liabilities to avoid the looming default, which at present stands at Rs 188 billion. According to sources, PSO's total circular

Published 05 Feb, 2012 12:00am

Looming default: PSO asks government to immediately release Rs 150 billion

The Pakistan State Oil (PSO) has requested the government to release Rs 150 billion, urgently so that it could pay outstanding liabilities to avoid the looming default, which at present stands at Rs 188 billion. According to sources, PSO''s total circular

Published 05 Feb, 2012 12:00am

Ahmadinejad to arrive later this month: CG

In order to boost bilateral trade and participate in tri-nation dialogues, president of Iran will visit Pakistan in the last week of this month, said Abbas Ali Abdollhi, Consul General of Islamic Republic of Iran. Addressing a press conference, here on Sa

Published 05 Feb, 2012 12:00am

Ahmadinejad to arrive later this month: CG

In order to boost bilateral trade and participate in tri-nation dialogues, president of Iran will visit Pakistan in the last week of this month, said Abbas Ali Abdollhi, Consul General of Islamic Republic of Iran. Addressing a press conference, here on Sa

Published 05 Feb, 2012 12:00am

Ahmadinejad to arrive later this month: CG

In order to boost bilateral trade and participate in tri-nation dialogues, president of Iran will visit Pakistan in the last week of this month, said Abbas Ali Abdollhi, Consul General of Islamic Republic of Iran. Addressing a press conference, here on Sa

Published 05 Feb, 2012 12:00am

Holiday notice

The offices of Business Recorder will remain closed today, Sunday (February 5), on account of Eid-e-Milad-un-Nabi (PBUH). There will, therefore, be no issue of the newspaper tomorrow, Monday, (February 6). However arrangements have been made to upd

Published 05 Feb, 2012 12:00am

Syria killing: Russia, China veto UN resolution

Russia and China joined forces in a double veto on Saturday to knock down a Western-Arab UN Security Council resolution backing an Arab League plan for Syrian President Bashar al-Assad to step aside. The other 13 council members voted in favour of the res

Published 05 Feb, 2012 12:00am

Syria killing: Russia, China veto UN resolution

Russia and China joined forces in a double veto on Saturday to knock down a Western-Arab UN Security Council resolution backing an Arab League plan for Syrian President Bashar al-Assad to step aside. The other 13 council members voted in favour of the res

Published 05 Feb, 2012 12:00am

PCA Directorate detects huge tax fraud case

The Directorate General of Post-Clearance Audit (PCA), Federal Board of Revenue (FBR), has deleted a tax fraud case tax fraud case, which shows involvement of appraisement staff of Model Customs Collectorate (MCC) Pakistan Customs Computerised Clearance S

Published 05 Feb, 2012 12:00am

PCA Directorate detects huge tax fraud case

The Directorate General of Post-Clearance Audit (PCA), Federal Board of Revenue (FBR), has deleted a tax fraud case tax fraud case, which shows involvement of appraisement staff of Model Customs Collectorate (MCC) Pakistan Customs Computerised Clearance S

Published 05 Feb, 2012 12:00am

PCA Directorate detects huge tax fraud case

The Directorate General of Post-Clearance Audit (PCA), Federal Board of Revenue (FBR), has deleted a tax fraud case tax fraud case, which shows involvement of appraisement staff of Model Customs Collectorate (MCC) Pakistan Customs Computerised Clearance S

Published 05 Feb, 2012 12:00am

US vows commitment to Europe despite Asia focus

The United States said Saturday that Europe remains Washington's security "partner of first resort" despite a US strategic pivot to Asia, but urged Europe to pull its weight. In a twin effort to reassure Europe about the historic US commitment to the cont

Published 05 Feb, 2012 12:00am

US vows commitment to Europe despite Asia focus

The United States said Saturday that Europe remains Washington's security "partner of first resort" despite a US strategic pivot to Asia, but urged Europe to pull its weight. In a twin effort to reassure Europe about the historic US commitment to the cont

Published 05 Feb, 2012 12:00am

Mixed trend on KSE

The Karachi share market witnessed a mixed trend during the week ended on February 3, 2012, due to a low participation of local investors, and the KSE-100 index closed at 11,982.62 level, up 22.40 points. Trading remained low and local investors appeared

Published 05 Feb, 2012 12:00am

Mixed trend on KSE

The Karachi share market witnessed a mixed trend during the week ended on February 3, 2012, due to a low participation of local investors, and the KSE-100 index closed at 11,982.62 level, up 22.40 points. Trading remained low and local investors appeared

Published 05 Feb, 2012 12:00am

Mixed trend on KSE

The Karachi share market witnessed a mixed trend during the week ended on February 3, 2012, due to a low participation of local investors, and the KSE-100 index closed at 11,982.62 level, up 22.40 points. Trading remained low and local investors appeared

Published 05 Feb, 2012 12:00am

49 percent rise in futures open interest

Open interest position at the futures counter during the week ending on February 3, 2012 increased by Rs 739 million, up 49 percent, to Rs 2.2 billion. The futures spreads, on the other hand, declined by 64bps on week-on-week basis to 6.22 percent. Due to

Published 05 Feb, 2012 12:00am

49 percent rise in futures open interest

Open interest position at the futures counter during the week ending on February 3, 2012 increased by Rs 739 million, up 49 percent, to Rs 2.2 billion. The futures spreads, on the other hand, declined by 64bps on week-on-week basis to 6.22 percent. Due to

Published 05 Feb, 2012 12:00am

Ensuring payment to growers: government mulling using CPRs as cheque

The Federal Government has started considering using Cane Purchase Receipts (CPR) as cheques to ensure payment to the growers, sources in the Ministry of Industries told Business Recorder. The Cabinet had approved Sugar Policy 2009-12 in September

Published 05 Feb, 2012 12:00am

Ensuring payment to growers: government mulling using CPRs as cheque

The Federal Government has started considering using Cane Purchase Receipts (CPR) as cheques to ensure payment to the growers, sources in the Ministry of Industries told Business Recorder. The Cabinet had approved Sugar Policy 2009-12 in September

Published 05 Feb, 2012 12:00am

Ensuring payment to growers: government mulling using CPRs as cheque

The Federal Government has started considering using Cane Purchase Receipts (CPR) as cheques to ensure payment to the growers, sources in the Ministry of Industries told Business Recorder. The Cabinet had approved Sugar Policy 2009-12 in September

Published 05 Feb, 2012 12:00am

Selected via computerised balloting: FBR sends cases to LTUs/RTOs for IT, ST audit

The Federal Board of Revenue (FBR) has selected certain cases for income tax and sales tax audit through computer balloting and the details of registered persons have been communicated to field formations.

Published 05 Feb, 2012 12:00am

Selected via computerised balloting: FBR sends cases to LTUs/RTOs for IT, ST audit

The Federal Board of Revenue (FBR) has selected certain cases for income tax and sales tax audit through computer balloting and the details of registered persons have been communicated to field formations.

Published 05 Feb, 2012 12:00am

Selected via computerised balloting: FBR sends cases to LTUs/RTOs for IT, ST audit

The Federal Board of Revenue (FBR) has selected certain cases for income tax and sales tax audit through computer balloting and the details of registered persons have been communicated to field formations.

Published 05 Feb, 2012 12:00am

Eid Milad-un-Nabi today

The nation celebrates Eid Milad-un-Nabi (PBUH) with religious reverence and fervour on Sunday (today) with a pledge to follow the teachings of Holy Prophet Muhammad (PBUH). The day will begin with special prayers for the progress, prosperity and integrity

Published 05 Feb, 2012 12:00am

Eid Milad-un-Nabi today

The nation celebrates Eid Milad-un-Nabi (PBUH) with religious reverence and fervour on Sunday (today) with a pledge to follow the teachings of Holy Prophet Muhammad (PBUH). The day will begin with special prayers for the progress, prosperity and integrity

Published 05 Feb, 2012 12:00am

Kashmir Solidarity Day today

Kashmir Solidarity Day is being observed on Sunday with traditional zeal and fervour in a bid to reiterate complete solidarity with the people of occupied Jammu and Kashmir in their indigenous struggle for attaining the right of self-determination and lib

Published 05 Feb, 2012 12:00am

Kashmir Solidarity Day today

Kashmir Solidarity Day is being observed on Sunday with traditional zeal and fervour in a bid to reiterate complete solidarity with the people of occupied Jammu and Kashmir in their indigenous struggle for attaining the right of self-determination and lib

Published 05 Feb, 2012 12:00am

Government in hot water over fiscal deficit

The Federal government is in hot water on overall fiscal deficit due to increasing current expenditure and depleting cash balance position of the provincial governments, it is learnt.

Published 05 Feb, 2012 12:00am

Government in hot water over fiscal deficit

The Federal government is in hot water on overall fiscal deficit due to increasing current expenditure and depleting cash balance position of the provincial governments, it is learnt.

Published 05 Feb, 2012 12:00am

Government in hot water over fiscal deficit

The Federal government is in hot water on overall fiscal deficit due to increasing current expenditure and depleting cash balance position of the provincial governments, it is learnt.

Published 05 Feb, 2012 12:00am

MFN status to India: Kashmir committee calls for joint sitting of MoC, FO

The Special Committee of Parliament on Kashmir has prepared recommendations for convening joint sitting of Trade and Foreign Ministries with Kashmiri leadership on the issue granting India Most Favoured Nation (MFN) status for trade. Parliamentary Kashmir

Published 05 Feb, 2012 12:00am

MFN status to India: Kashmir committee calls for joint sitting of MoC, FO

The Special Committee of Parliament on Kashmir has prepared recommendations for convening joint sitting of Trade and Foreign Ministries with Kashmiri leadership on the issue granting India Most Favoured Nation (MFN) status for trade. Parliamentary Kashmir

Published 05 Feb, 2012 12:00am

MFN status to India: Kashmir committee calls for joint sitting of MoC, FO

The Special Committee of Parliament on Kashmir has prepared recommendations for convening joint sitting of Trade and Foreign Ministries with Kashmiri leadership on the issue granting India Most Favoured Nation (MFN) status for trade. Parliamentary Kashmir

Published 05 Feb, 2012 12:00am

MFN status to India: Kashmir committee calls for joint sitting of MoC, FO

The Special Committee of Parliament on Kashmir has prepared recommendations for convening joint sitting of Trade and Foreign Ministries with Kashmiri leadership on the issue granting India Most Favoured Nation (MFN) status for trade. Parliamentary Kashmir

Published 05 Feb, 2012 12:00am

PCB chief says India 'afraid'

Pakistan cricket chief Zaka Ashraf said Saturday that his side's recent resurgence in form had left arch-rivals India afraid to take them on. The neighbours have not played a Test series since 2007, with sporting ties frozen after the terrorist attacks on

Published 05 Feb, 2012 12:00am

PCB chief says India 'afraid'

Pakistan cricket chief Zaka Ashraf said Saturday that his side's recent resurgence in form had left arch-rivals India afraid to take them on. The neighbours have not played a Test series since 2007, with sporting ties frozen after the terrorist attacks on

Published 05 Feb, 2012 12:00am

Deaths at PIC: Supreme Court resumes hearing tomorrow

The Supreme Court will resume the hearing of a suo-motu case in relation to over 90 deaths caused by spurious drugs at Punjab Institute of Cardiology (PIC) from February 6 (tomorrow). The Federal Investigation Agency (FIA) will submit a report in this reg

Published 05 Feb, 2012 12:00am

Deaths at PIC: Supreme Court resumes hearing tomorrow

The Supreme Court will resume the hearing of a suo-motu case in relation to over 90 deaths caused by spurious drugs at Punjab Institute of Cardiology (PIC) from February 6 (tomorrow). The Federal Investigation Agency (FIA) will submit a report in this reg

Published 05 Feb, 2012 12:00am

Oil ban will not halt nuclear work: Iran

Iran's oil minister said the Islamic state would not retreat from its nuclear programme even if its crude oil exports grind to a halt, the official IRNA news agency reported on Saturday. But he also called on the European Union, which accounted for a quar

Published 05 Feb, 2012 12:00am

Oil ban will not halt nuclear work: Iran

Iran's oil minister said the Islamic state would not retreat from its nuclear programme even if its crude oil exports grind to a halt, the official IRNA news agency reported on Saturday. But he also called on the European Union, which accounted for a quar

Published 05 Feb, 2012 12:00am

Oil ban will not halt nuclear work: Iran

Iran''s oil minister said the Islamic state would not retreat from its nuclear programme even if its crude oil exports grind to a halt, the official IRNA news agency reported on Saturday. But he also called on the European Union, which accounted for a qua

Published 05 Feb, 2012 12:00am

Oil ban will not halt nuclear work: Iran

Iran''''s oil minister said the Islamic state would not retreat from its nuclear programme even if its crude oil exports grind to a halt, the official IRNA news agency reported on Saturday. But he also called on the European Union, which accounted for a q

Published 05 Feb, 2012 12:00am

Iran asks Opec states not to raise oil output

Iran has asked Opec members not to raise oil production to compensate for a European Union embargo against the Islamic republic, Oil Minister Rostam Qasemi said on Saturday. Qasemi said the request was forwarded in a letter to Iraq, the current head of th

Published 05 Feb, 2012 12:00am

Iran asks Opec states not to raise oil output

Iran has asked Opec members not to raise oil production to compensate for a European Union embargo against the Islamic republic, Oil Minister Rostam Qasemi said on Saturday. Qasemi said the request was forwarded in a letter to Iraq, the current head of th

Published 05 Feb, 2012 12:00am

Iran asks Opec states not to raise oil output

Iran has asked Opec members not to raise oil production to compensate for a European Union embargo against the Islamic republic, Oil Minister Rostam Qasemi said on Saturday. Qasemi said the request was forwarded in a letter to Iraq, the current head of th

Published 05 Feb, 2012 12:00am

Iran asks Opec states not to raise oil output

Iran has asked Opec members not to raise oil production to compensate for a European Union embargo against the Islamic republic, Oil Minister Rostam Qasemi said on Saturday. Qasemi said the request was forwarded in a letter to Iraq, the current head of th

Published 05 Feb, 2012 12:00am

Afghan Taliban deny Mullah Omar wrote to White House

The Afghan Taliban denied on Saturday that the group's leader Mullah Omar wrote to the White House last year. The White House received a letter in 2011 which purported to come directly from Mullah Omar, asking the United States to deliver prisoners whose

Published 05 Feb, 2012 12:00am

Afghan Taliban deny Mullah Omar wrote to White House

The Afghan Taliban denied on Saturday that the group's leader Mullah Omar wrote to the White House last year. The White House received a letter in 2011 which purported to come directly from Mullah Omar, asking the United States to deliver prisoners whose

Published 05 Feb, 2012 12:00am

Preventive detention: senators seek to curtail intelligence agencies' role

A bill has been submitted to Senate seeking amendment in Constitution with a view to curtailing intelligence agencies' role in preventive detention, and making permission of a concerned province's High Court mandatory prior to handing over of any Pakistan

Published 05 Feb, 2012 12:00am

Preventive detention: senators seek to curtail intelligence agencies' role

A bill has been submitted to Senate seeking amendment in Constitution with a view to curtailing intelligence agencies' role in preventive detention, and making permission of a concerned province's High Court mandatory prior to handing over of any Pakistan

Published 05 Feb, 2012 12:00am

Senate election process begins from February 11

The process of election to Senate will started from February 11, 2012, or this purpose Pakistan People's Party (PPP) has short listed names of candidates for awarding tickets from all over the country, including Sindh, and it is trying to get all senators

Published 05 Feb, 2012 12:00am

Senate election process begins from February 11

The process of election to Senate will started from February 11, 2012, or this purpose Pakistan People's Party (PPP) has short listed names of candidates for awarding tickets from all over the country, including Sindh, and it is trying to get all senators

Published 05 Feb, 2012 12:00am

Most kitchen items' prices up

The prices of most of the essential kitchen items like vegetables, fruits, poultry products, fuels and meat witnessed substantial increase during the week as compared to the preceding week, according to a survey conducted by Business Recorder here

Published 05 Feb, 2012 12:00am

Most kitchen items' prices up

The prices of most of the essential kitchen items like vegetables, fruits, poultry products, fuels and meat witnessed substantial increase during the week as compared to the preceding week, according to a survey conducted by Business Recorder here

Published 05 Feb, 2012 12:00am

Most kitchen items'' prices up

The prices of most of the essential kitchen items like vegetables, fruits, poultry products, fuels and meat witnessed substantial increase during the week as compared to the preceding week, according to a survey conducted by Business Recorder here

Published 05 Feb, 2012 12:00am

India's Congress wins court reprieve over telecoms scandal

India's beleaguered government won some rare relief on Saturday when a court threw out a corruption case against one its top ministers ahead of crucial state elections next week. The court dismissed a petition accusing Home Minister Palaniappan Chidambara

Published 05 Feb, 2012 12:00am

India's Congress wins court reprieve over telecoms scandal

India's beleaguered government won some rare relief on Saturday when a court threw out a corruption case against one its top ministers ahead of crucial state elections next week. The court dismissed a petition accusing Home Minister Palaniappan Chidambara

Published 05 Feb, 2012 12:00am

India''s Congress wins court reprieve over telecoms scandal

India''s beleaguered government won some rare relief on Saturday when a court threw out a corruption case against one its top ministers ahead of crucial state elections next week. The court dismissed a petition accusing Home Minister Palaniappan Chidambar

Published 05 Feb, 2012 12:00am

Rangers, Police hold flag march in Larkana

Wing Commander, Shahbaz Rangers Larkana Lieutenant Colonel Malik Mukhtiar along with ASP City Larkana led a joint flag march of Police and Rangers, a convoy of police and Rangers vehicles and motorcycles that took a round of the city as part of Eid Milad-

Published 05 Feb, 2012 12:00am

Pakistan to continue its support to Kashmiris: Zardari

President Asif Ali Zardari said on Saturday that Pakistan will continue its complete solidarity with the Kashmiris and extend fullest political, moral and diplomatic support to their just cause.

Published 05 Feb, 2012 12:00am

Acquisition of two planes on wet lease criticised: Palpa opposes move

The Pakistan Airline Pilots' Association (Palpa) has expressed "shock and dismay" over what it described "unjustified acquiring of two A-320s on wet-lease" by PIA management.

Published 05 Feb, 2012 12:00am

Internet banking registers phenomenal growth

With a new era of information technology the bank customers are also gradually shifting towards the internet banking and with over 100 percent growth, internet banking transactions value reached Rs 85 billion during first quarter of current fiscal year.

Published 05 Feb, 2012 12:00am

Performance of ATCs in Punjab reviewed

A judge of the Supreme Court, Justice Mian Shakirullah Jan here Saturday presided over a meeting to review performance of anti-terrorism courts in Punjab. Justice Shakirullah, discussed the problems faced by judges in disposal of cases and issued necessar

Published 05 Feb, 2012 12:00am

Loan write-off aimed at garnering political support

Anjuman Kashtkaran Punjab (AKP) President, Peerzada Abdul Ali Zakir Usmani, said that Federal Government has already asked all the commercial banks to write off the outstanding loans of rice millers and traders of flood-affected areas of Sindh and Balochi

Published 05 Feb, 2012 12:00am

Girl, cop killed by robbers

A cop and a teenager girl on Saturday lost their lives when alleged bandits sprayed them with bullets to avoid arrests during a robbery bid in the jurisdiction of Sher Shah Police Station. According to police, an assistant sub-inspector and a 19-year-old

Published 05 Feb, 2012 12:00am

DRA and HCDRA likely to be established shortly

Drug Regulatory Authority (DRA) and Health Care and Drug Regulatory Authority (HCDRA) are likely to be established in the country soon. A meeting of Council for Common Interest (CCI) headed by Prime Minister Yousuf Raza Gilani is scheduled to be held on F

Published 05 Feb, 2012 12:00am

Mian Atique joins MQM

Chairman of Shalimar Group of Companies and former senior vice president of Rawalpindi Chambers of Commerce Mian Muhammad Atique has announced to come into the fold of Muttahida Quami Movement (MQM). Addressing a news conference at Nine Zero on Saturday,

Published 05 Feb, 2012 12:00am

PHMA demands action against extortionists

Pakistan Hardware Merchants Association (PHMA) has demanded of the Federal Interior Minister Rehman Malik to take immediate action against the elements involved in harassing the Association's members in Karachi. The Association in its meeting jointly chai

Published 05 Feb, 2012 12:00am

Students accused of detaining Professor Sabir

Activists of Islami Jamiat Talaba (IJT) allegedly detained Hostel No 1 Superintendent Assistant Professor Dr Munawar Sabir and his family in his house after he locked rooms of illegal occupants of the hostel. Dr Munawar Sabir locked the rooms of illegal o

Published 05 Feb, 2012 12:00am

Illumination across Karachi

Millions of devotees across Pakistan are set to mark the annual religious event of Eid Milad-un-Nabi (PBUH) today (Sunday) with holding processions and festivities. In Karachi, nearly all big and small roads and streets in all five districts had been deco

Published 05 Feb, 2012 12:00am

Lady health workers not paid salaries

No salary is being paid to lady health workers of the National Health Programme and Health Department since last six months in Balochistan. Official sources confirmed to the media on Saturday that hundreds of lady health workers of National Health Program

Published 05 Feb, 2012 12:00am

MCCI hails WTO move

Multan Chamber of Commerce and Industry (MCCI) on Saturday hailed the decision of the Council on Trade in Goods (CTG) of the World Trade Organisation (WTO) for approving waiver to the European Union to import 75 duty-free products from Pakistan. President

Published 05 Feb, 2012 12:00am

Malika Pukhraj's death anniversary observed

Renowned Pakistani singer Malika Pukhraj remembered on her death anniversary on Saturday. Malika Pukhraj was born in village Mirpur, on the banks of the River Akhnoor, 16 miles from Jammu in 1912. She was given the name "Malika" at birth, by a Majzoob Bab

Published 05 Feb, 2012 12:00am

Wheel jam strike in Balochistan against killings

A shutter down and wheel jam strike was observed in parts of Balochistan on third consecutive day on Saturday against killing of wife, daughter and the driver of MPA Mir Bakhtiar Domki. Nationalist party Baloch Republican Party (BRP) gave call for strike,

Published 05 Feb, 2012 12:00am

LHC CJ speaks about significance of contemp law

Chief Justice Lahore High Court, Justice Sheikh Azmat Saeed has said that the contempt of court law is only to ensure implementation of court orders. "This is not a divine law, but has been made after years of experiences only to remove hurdles in the way

Published 05 Feb, 2012 12:00am

PPP cuts a deal with PML-Q on Senate seats

Pakistan People's Party (PPP) has agreed to give seven seats to Pakistan Muslim League-Quaid (PML-Q) in Senate as the latter has promised to stand by PPP during the upcoming elections scheduled for March 2, it is learnt. The PPP move will cement its posit

Published 05 Feb, 2012 12:00am

Encouragement of social entrepreneurship stressed

It is the need of the hour to encourage social entrepreneurship in order to alleviate poverty in country, said Asad Umar, CEO of Engro Corporation while addressing Acumen Fund community gathering 2012 as chief guest here at local hotel on Saturday.

Published 05 Feb, 2012 12:00am

Proposed PSDP 2012-13: P&D Division reviewing financial recommendations

The Planning & Development Division is in process of reviewing financial recommendations for budget allocation in the next PSDP 2012-13 pertaining to importance and progress achieved on the projects so far, it is learnt. The projects would also be monitor

Published 05 Feb, 2012 12:00am

More rains, snowfall forecast

The temperatures have further plugged to new lows after downpour and snowfall in different areas of the country on Saturday. The Meteorological Department said Karachi, Islamabad, Quetta, Chaman Hub, Parachinar, Charsadda and other parts of the country re

Published 05 Feb, 2012 12:00am

Business community thanks WTO

The Pak business community is thankful to WTO member countries for their support in special trade waiver to help stabilise country's economy that suffered irreparable loss in the wake of floods devastation.

Published 05 Feb, 2012 12:00am

LEAs claim arrest of banned TTP commander

Law Enforcement Agencies on Saturday claimed to have arrested four alleged militants including a commander of outlawed Tehreek-e-Taliban Pakistan from Orangi Town area. According to police sources, the information of detained persons revealed that some mi

Published 05 Feb, 2012 12:00am

Enhanced security on Eid-e-Milad-un-Nabi: Islamabad police chalk out plan

The capital police have chalked out an elaborate security plan for main procession of Eid-e-Milad-un-Nabi on 12th Rabi-ul-Awal, Sunday, February 5, and strict patrolling will be ensured during procession and other religious gatherings in the city to avoid

Published 05 Feb, 2012 12:00am

'Cancer to become common cause of death by 2020'

According to a survey cancer is likely to be the most common cause of deaths in the world by 2020, and about 0.2 million people become victim of cancer in Pakistan every year. This was the crux of the seminar organised on World Cancer Day by Shifa Interna

Published 05 Feb, 2012 12:00am

Reward of meritorious services: DGI&I provides FBR with list of 25 officials

The Directorate General of Intelligence and Investigation Federal Board of Revenue (FBR) has provided a list of 25 customs officials including senior officers to the FBR for obtaining reward equivalent to two years salaries along with cash reward for dete

Published 05 Feb, 2012 12:00am

Currency	Rate
USD PKR Interbank Selling / Aug 12	277.86
USD PKR Interbank Buying / Aug 12	277.66
USD to Japanese Yen / Aug 13	159.33
USD to Swiss Franc / Aug 13	0.81
Pound Sterling to USD / Aug 13	1.35
Euro to USD / Aug 13	1.15
SOFR % / Aug 12	3.62

Stock	Volume
S&P 500 / Aug 12	7,748.50
Nasdaq / Aug 12	26,588.49
Dow Jones / Aug 12	53,770.27
India Sensex / Aug 13	77,689.35
Tokyo Nikkei / Aug 13	68,621.41
Hang Seng / Aug 13	25,406.75
FTSE 100 / Aug 13	10,788.71
Germany DAX 30 / Aug 13	26,428.08
France CAC40 / Aug 13	8,685.18

Item	Value
Karachi Cotton PKR/37.32 KG / Aug 11	18,580
Gold 10 Grams PKR / Aug 12	397,750
Crude Oil USD/Barrel / Aug 13	82.94
Gold Spot USD/Ounce / Aug 13	4,386.51
Cotton US¢/pound / Aug 13	83.85
Petrol/Litre / Aug 14	325.43
Diesel/Litre / Aug 14	383.95

Stock	Price
Gammon Pak / Aug 13 Gammon Pakistan Limited(GAMON)	28.25 ▲ 2.57 (10.01%)
Ideal Dynamics / Aug 13 Ideal Dynamics Limited(IDEAL)	49.13 ▲ 4.47 (10.01%)
Leather Up Ltd. / Aug 13 Leather Up Limited(LEUL)	49.58 ▲ 4.51 (10.01%)
Al-Khair Gadoon / Aug 13 Al-Khair Gadoon Limited(AKGL)	79.51 ▲ 7.23 (10%)
Arctic Textile / Aug 13 Arctic Textile Mills Limited(ARCTM)	47.19 ▲ 4.29 (10%)
Aisha Steel (CPS) / Aug 13 Aisha Steel Mills Limited (CPS)(ASLCPS)	114.83 ▲ 10.44 (10%)
Asim Textile / Aug 13 Asim Textile Mills Limited(ASTM)	90.50 ▲ 8.23 (10%)
Buxly Paints / Aug 13 Buxly Paints Limited(BUXL)	336.04 ▲ 30.55 (10%)
J.A.Textile / Aug 13 J.A. Textile Mills Limited(JATM)	68.84 ▲ 6.26 (10%)
MACPAC Films / Aug 13 MACPAC Films Limited(MACFL)	73.07 ▲ 6.64 (10%)

Stock	Price
Supernet Tech. / Aug 13 Supernet Technologies Limited(STL)	29.87 ▼ -11.86 (-28.42%)
D.S. Ind. Ltd. / Aug 13 D.S. Industries Limited(DSIL)	13.56 ▼ -1.51 (-10.02%)
Universal Ins. / Aug 13 The Universal Insurance Company Limited(UVIC)	20.71 ▼ -2.3 (-10%)
Mughal Energy / Aug 13 Mughal Energy Limited(GEM)(GEMMEL)	27.20 ▼ -2.72 (-9.09%)
Beco Steel Ltd / Aug 13 Beco Steel Limited(BECO)	5.11 ▼ -0.46 (-8.26%)
Tri-Star Mutual / Aug 13 Tri-Star Mutual Fund Limited(TSMF)	17.14 ▼ -1.43 (-7.7%)
Asia Ins. / Aug 13 Asia Insurance Company Limited(ASIC)	39.82 ▼ -3.18 (-7.4%)
ARM Green Industries / Aug 13 ARM Green Industries Limited(ARMG)	55.60 ▼ -4.43 (-7.38%)
Shadman Cotton / Aug 13 Shadman Cotton Mills Limited(SHCM)	64.02 ▼ -4.9 (-7.11%)
Pak Tobacco / Aug 13 Pakistan Tobacco Company Limited(PAKT)	1,364.29 ▼ -96.5 (-6.61%)

Stock	Volume
Cnergyico PK / Aug 13 Cnergyico PK Limited(CNERGY)	247,072,281 ▲ 0.57
Beco Steel Ltd / Aug 13 Beco Steel Limited(BECO)	103,802,064 ▼ -0.46
Pak Refinery / Aug 13 Pakistan Refinery Limited(PRL)	40,235,369 ▲ 5.93
D.S. Ind. Ltd. / Aug 13 D.S. Industries Limited(DSIL)	39,092,471 ▼ -1.51
WorldCall Telecom / Aug 13 Worldcall Telecom Limited(WTL)	26,025,744 ▲ 0.01
Thatta Cement / Aug 13 Thatta Cement Company Limited(THCCL)	19,608,245 ▲ 3.36
B.O.Punjab / Aug 13 The Bank of Punjab(BOP)	16,204,913 ▲ 0.18
Hascol Petrol / Aug 13 Hascol Petroleum Limited(HASCOL)	15,337,298 ▼ -0.48
TPL Properties / Aug 13 TPL Properties Limited(TPLP)	15,140,554 ▼ -0.31
TPL Corp Ltd / Aug 13 TPL Corp Limited(TPL)	14,138,754 ▲ 0.53