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Archive - 2012-02-10
ISE-10 stays bullish
Markets

ISE-10 stays bullish

ISLAMABAD: Islamabad Stock Exchange (ISE-10) here on Friday witnessed bullish trend as the index was up by 5.76 points t
Published 10 Feb, 2012 06:20pm
India releases five prisoners
Top News

India releases five prisoners

LAHORE: The Indian government on Friday released five Pakistani prisoners. Indian authorities handed over the prisoners
Published 10 Feb, 2012 06:16pm
RECORDER REPORT: KSE-100 close of day
Top News

RECORDER REPORT: KSE-100 close of day

KARACHI: The KSE-100 index on Friday gained 18.36 points to close at 12,231.60 points on the back of investors' interest
Published 10 Feb, 2012 02:31pm
Greek unions unleash 48-hour strike
Top News

Greek unions unleash 48-hour strike

ATHENS: Greek unions unleashed a 48-hour strike on Friday against new austerity measures to go before parliament and req
Published 10 Feb, 2012 11:30am
PM flood relief fund receives Rs 7.812bn
Top News

PM flood relief fund receives Rs 7.812bn

ISLAMABAD : An amount of Rs 7.812 billion was received in the Prime Minister Flood Relief Fund 2010, till June 1, 2011
Published 10 Feb, 2012 09:49am
EU to resume fish import from Pakistan
Top News

EU to resume fish import from Pakistan

ISLAMABAD : European Union (EU) imports fish worth Euro 15.5 million per annum and are open to restoring fish imports fr
Published 10 Feb, 2012 09:33am
Estonia GDP slows more than expected
Top News

Estonia GDP slows more than expected

TALLINN: Estonia's GDP growth slowed to 4.0 percent year-on-year in the fourth quarter, lower than analysts expected, wi
Published 10 Feb, 2012 07:43am
RECORDER REPORT: mid day update
Top News

RECORDER REPORT: mid day update

KARACHI: On Friday until end of first session, KSE-100 Index remained largely positive with an upward trend and was at 1
Published 10 Feb, 2012 07:31am
Total posts 2011 profit of 12.3bn euros
Top News

Total posts 2011 profit of 12.3bn euros

PARIS: French oil major Total posted Friday a 2011 net profit of 12.3 billion euros ($16.3 billion), for an annualised g
Published 10 Feb, 2012 07:28am
Money rates little changed: China
Top News

Money rates little changed: China

SHANGHAI: China's money rates traded narrowly on Friday, with dealers citing abundant liquidity in the market and expect
Published 10 Feb, 2012 06:57am
Philippine December exports down 20.7pc
Top News

Philippine December exports down 20.7pc

MANILA: Philippine exports dropped sharply in December last year as the crucial electronics sector struggled with soft d
Published 10 Feb, 2012 05:00am
Euro in tight range in Asia
Financial

Euro in tight range in Asia

TOKYO: The euro remained in a tight range in Asian trade Friday after eurozone finance ministers put off a decision on a
Published 10 Feb, 2012 04:01am
T-Bill auction: IMF Factor
BR Research

T-Bill auction: IMF Factor

The real beauty of an efficient market stems from its quickness in incorporating new information and factoring it into the market price. Tra
Published 10 Feb, 2012 12:00am
Pakistan State Oil
BR Research

Pakistan State Oil

Things might not be working for the largest public sector OMC at the moment. At least the financial results say so. Pakistan State Oils perf
Published 10 Feb, 2012 12:00am
TDAP Ordinance in limbo

TDAP Ordinance in limbo

The much-awaited Trade Development Authority of Pakistan (TDAP) Ordinance is in limbo because of some serious differences between the Commerce Ministry and TDAP over its authority. These differences were witnessed between Secretary Commerce, Zafar Mahmood
Published 10 Feb, 2012 12:00am
Iran turns to India for wheat as palm oil dries up

Iran turns to India for wheat as palm oil dries up

Iran has turned to India for wheat supplies as other sellers divert grain cargoes away from the Middle East country because of sanctions-related payments problems that have caused palm oil imports to grind to a halt. Indian tea was also added on Thursday
Published 10 Feb, 2012 12:00am
Iran turns to India for wheat as palm oil dries up

Iran turns to India for wheat as palm oil dries up

Iran has turned to India for wheat supplies as other sellers divert grain cargoes away from the Middle East country because of sanctions-related payments problems that have caused palm oil imports to grind to a halt. Indian tea was also added on Thursday
Published 10 Feb, 2012 12:00am
Iran turns to India for wheat as palm oil dries up

Iran turns to India for wheat as palm oil dries up

Iran has turned to India for wheat supplies as other sellers divert grain cargoes away from the Middle East country because of sanctions-related payments problems that have caused palm oil imports to grind to a halt. Indian tea was also added on Thursday
Published 10 Feb, 2012 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 10 Feb, 2012 12:00am
Write to RIM again, commission asks AGP

Write to RIM again, commission asks AGP

The Judicial Commission investigating the Memogate case on Thursday directed the Attorney General of Pakistan (AGP) to write to Canadian company Reseach in Motion (RIM) again with a view to retrieving BlackBerry data. The Commission which met with Justice
Published 10 Feb, 2012 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 10 Feb, 2012 12:00am
Write to RIM again, commission asks AGP

Write to RIM again, commission asks AGP

The Judicial Commission investigating the Memogate case on Thursday directed the Attorney General of Pakistan (AGP) to write to Canadian company Reseach in Motion (RIM) again with a view to retrieving BlackBerry data. The Commission which met with Justice
Published 10 Feb, 2012 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 10 Feb, 2012 12:00am
ISE loses 12.66 points

ISE loses 12.66 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 12.66 points as the ISE Ten Index moved from 2,704.99 to 2,692.33
Published 10 Feb, 2012 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

Published 10 Feb, 2012 12:00am
ISE loses 12.66 points

ISE loses 12.66 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 12.66 points as the ISE Ten Index moved from 2,704.99 to 2,692.33
Published 10 Feb, 2012 12:00am
Board meetings

Board meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 10 Feb, 2012 12:00am
LSE index sheds 22.68 points

LSE index sheds 22.68 points

Bearish sentiments dominated on the Lahore Stock Exchange (LSE) and the equities registered declines amid descending transaction volume on account of lacking interest on the part of investors. The LSE-25 index lost 22.68 points and was closed at 3189.59 a
Published 10 Feb, 2012 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 10 Feb, 2012 12:00am
LSE index sheds 22.68 points

LSE index sheds 22.68 points

Bearish sentiments dominated on the Lahore Stock Exchange (LSE) and the equities registered declines amid descending transaction volume on account of lacking interest on the part of investors. The LSE-25 index lost 22.68 points and was closed at 3189.59 a
Published 10 Feb, 2012 12:00am
IHC stays Trade Officer written test

IHC stays Trade Officer written test

Islamabad High Court (IHC) has granted stay against written test for the Trade Officers scheduled to be held on February 11, 2012 under the supervision of Lahore University of Management Sciences (LUMS). Official sources told Business Recorder that
Published 10 Feb, 2012 12:00am
IHC stays Trade Officer written test

IHC stays Trade Officer written test

Islamabad High Court (IHC) has granted stay against written test for the Trade Officers scheduled to be held on February 11, 2012 under the supervision of Lahore University of Management Sciences (LUMS). Official sources told Business Recorder that
Published 10 Feb, 2012 12:00am
IHC stays Trade Officer written test

IHC stays Trade Officer written test

Islamabad High Court (IHC) has granted stay against written test for the Trade Officers scheduled to be held on February 11, 2012 under the supervision of Lahore University of Management Sciences (LUMS). Official sources told Business Recorder that
Published 10 Feb, 2012 12:00am
Finding the correct monetary stance

Finding the correct monetary stance

There is a strong correlation between the net domestic assets to net foreign assets ratio (NDA/NFA) and inflation. Currently, the former is headed in the wrong direction and that is anchoring inflationary expectations. NDA/NFA worsened from 7.6 times to 1
Published 10 Feb, 2012 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (February 09, 2012).

Published 10 Feb, 2012 12:00am
Finding the correct monetary stance

Finding the correct monetary stance

There is a strong correlation between the net domestic assets to net foreign assets ratio (NDA/NFA) and inflation. Currently, the former is headed in the wrong direction and that is anchoring inflationary expectations. NDA/NFA worsened from 7.6 times to 1
Published 10 Feb, 2012 12:00am
Finding the correct monetary stance

Finding the correct monetary stance

There is a strong correlation between the net domestic assets to net foreign assets ratio (NDA/NFA) and inflation. Currently, the former is headed in the wrong direction and that is anchoring inflationary expectations. NDA/NFA worsened from 7.6 times to 1
Published 10 Feb, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Thursday (February 09, 2012).

Published 10 Feb, 2012 12:00am
Finding the correct monetary stance

Finding the correct monetary stance

There is a strong correlation between the net domestic assets to net foreign assets ratio (NDA/NFA) and inflation. Currently, the former is headed in the wrong direction and that is anchoring inflationary expectations. NDA/NFA worsened from 7.6 times to 1
Published 10 Feb, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Thursday (February 09, 2012).

Published 10 Feb, 2012 12:00am
US House passes curbs on lawmaker insider trading

US House passes curbs on lawmaker insider trading

The US House of Representatives overwhelmingly passed a bill to curb insider trading by lawmakers and other government officials on Thursday, despite objections from Democrats and some Republicans that it lacked some tough measures to fight corruption.
Published 10 Feb, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Thursday (February 09, 2012).

Published 10 Feb, 2012 12:00am
US House passes curbs on lawmaker insider trading

US House passes curbs on lawmaker insider trading

The US House of Representatives overwhelmingly passed a bill to curb insider trading by lawmakers and other government officials on Thursday, despite objections from Democrats and some Republicans that it lacked some tough measures to fight corruption.
Published 10 Feb, 2012 12:00am
THE RUPEE: all-round slide

THE RUPEE: all-round slide

All-round decline was seen on the currency market on Thursday as the rupee slid versus dollar and euro in process of trading, dealers said. The rupee gave up overnight winning track in relation to dollar, losing five paisa for buying at 90.65 and falling
Published 10 Feb, 2012 12:00am
US House passes curbs on lawmaker insider trading

US House passes curbs on lawmaker insider trading

The US House of Representatives overwhelmingly passed a bill to curb insider trading by lawmakers and other government officials on Thursday, despite objections from Democrats and some Republicans that it lacked some tough measures to fight corruption.
Published 10 Feb, 2012 12:00am
THE RUPEE: all-round slide

THE RUPEE: all-round slide

All-round decline was seen on the currency market on Thursday as the rupee slid versus dollar and euro in process of trading, dealers said. The rupee gave up overnight winning track in relation to dollar, losing five paisa for buying at 90.65 and falling
Published 10 Feb, 2012 12:00am
Airlines refuse to pay new charges

Airlines refuse to pay new charges

All airlines operating to/from Pakistan and ground handling agencies have refused to pay new charges of Rs 5,000/- fee for airport entry passes chargeable from each individual from January 1, 2012. Airports Security Force (ASF) had been issuing these pass
Published 10 Feb, 2012 12:00am
Airlines refuse to pay new charges

Airlines refuse to pay new charges

All airlines operating to/from Pakistan and ground handling agencies have refused to pay new charges of Rs 5,000/- fee for airport entry passes chargeable from each individual from January 1, 2012. Airports Security Force (ASF) had been issuing these pass
Published 10 Feb, 2012 12:00am
Airlines refuse to pay new charges

Airlines refuse to pay new charges

All airlines operating to/from Pakistan and ground handling agencies have refused to pay new charges of Rs 5,000/- fee for airport entry passes chargeable from each individual from January 1, 2012. Airports Security Force (ASF) had been issuing these pass
Published 10 Feb, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (February 09, 2012).

Published 10 Feb, 2012 12:00am
Nine sentenced for LSE terror plot

Nine sentenced for LSE terror plot

A British judge has sent nine men to prison for plotting to set up a terrorist training camp and bomb the London Stock Exchange. The British Muslims pleaded guilty last week. Mohammed Chowdhury, 21; Shah Rahman, 28; Gurukanth Desai, 30; and Abdul Miah, 25
Published 10 Feb, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (February 09, 2012).

Published 10 Feb, 2012 12:00am
Nine sentenced for LSE terror plot

Nine sentenced for LSE terror plot

A British judge has sent nine men to prison for plotting to set up a terrorist training camp and bomb the London Stock Exchange. The British Muslims pleaded guilty last week. Mohammed Chowdhury, 21; Shah Rahman, 28; Gurukanth Desai, 30; and Abdul Miah, 25
Published 10 Feb, 2012 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Thursday (February 09, 2012).

Published 10 Feb, 2012 12:00am
Pakistan al Qaeda chief 'killed by US drone'

Pakistan al Qaeda chief 'killed by US drone'

US missiles on Thursday killed al Qaeda's chief in Pakistan, one of the Americans' main targets and wanted for attacks that killed scores of people, officials said. Badar Mansoor, who reputedly sent fighters to Afghanistan and ran a training camp in North
Published 10 Feb, 2012 12:00am
Pakistan al Qaeda chief 'killed by US drone'

Pakistan al Qaeda chief 'killed by US drone'

US missiles on Thursday killed al Qaeda's chief in Pakistan, one of the Americans' main targets and wanted for attacks that killed scores of people, officials said. Badar Mansoor, who reputedly sent fighters to Afghanistan and ran a training camp in North
Published 10 Feb, 2012 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (February 09, 2012).

Published 10 Feb, 2012 12:00am
Indian companies allowed displaying all items in show

Indian companies allowed displaying all items in show

The Ministry of Commerce has allowed Indian companies to display all items whether in positive list or negative list in India Show being organised in Lahore. Indian Minister for Commerce and Industry, Anand Sharma is scheduled to visit Pakistan from Febru
Published 10 Feb, 2012 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Thursday (February 09, 2012) and for Friday (February 10, 2012).
Published 10 Feb, 2012 12:00am
Indian companies allowed displaying all items in show

Indian companies allowed displaying all items in show

The Ministry of Commerce has allowed Indian companies to display all items whether in positive list or negative list in India Show being organised in Lahore. Indian Minister for Commerce and Industry, Anand Sharma is scheduled to visit Pakistan from Febru
Published 10 Feb, 2012 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (February 09, 2012).

Published 10 Feb, 2012 12:00am
Indian companies allowed displaying all items in show

Indian companies allowed displaying all items in show

The Ministry of Commerce has allowed Indian companies to display all items whether in positive list or negative list in India Show being organised in Lahore. Indian Minister for Commerce and Industry, Anand Sharma is scheduled to visit Pakistan from Febru
Published 10 Feb, 2012 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Thursday (February 09, 2012).

Published 10 Feb, 2012 12:00am
Proposed CGT regime: FBR critical of section 111 exemption, NCCPL role

Proposed CGT regime: FBR critical of section 111 exemption, NCCPL role

The Federal Board of Revenue will convey its strong reservations over the proposed regime of capital gains tax (CGT) to the Ministry of Finance on two key issues - exemption from section 111 (unexplained income or assets) of the Income Tax Ordinance 2001
Published 10 Feb, 2012 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 10 Feb, 2012 12:00am
Proposed CGT regime: FBR critical of section 111 exemption, NCCPL role

Proposed CGT regime: FBR critical of section 111 exemption, NCCPL role

The Federal Board of Revenue will convey its strong reservations over the proposed regime of capital gains tax (CGT) to the Ministry of Finance on two key issues - exemption from section 111 (unexplained income or assets) of the Income Tax Ordinance 2001
Published 10 Feb, 2012 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 10 Feb, 2012 12:00am
Proposed CGT regime: FBR critical of section 111 exemption, NCCPL role

Proposed CGT regime: FBR critical of section 111 exemption, NCCPL role

The Federal Board of Revenue will convey its strong reservations over the proposed regime of capital gains tax (CGT) to the Ministry of Finance on two key issues - exemption from section 111 (unexplained income or assets) of the Income Tax Ordinance 2001
Published 10 Feb, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (February 09, 2012).

Published 10 Feb, 2012 12:00am
The Weather

The Weather

The weather report on Thursday (February 09, 2012) and the forecast for Friday (February 10, 2012).

Published 10 Feb, 2012 12:00am
SECP holds seminar

SECP holds seminar

Securities and Exchange Commission of Pakistan (SECP) held a seminar on online incorporation, eServices and measures to increase corporatisation at the Rawalpindi-Islamabad Tax Bar Association, Rawalpindi. Muhammad Siddique, Registrar of Companies, highli
Published 10 Feb, 2012 12:00am
Army is with the government: Prime Minister

Army is with the government: Prime Minister

Prime Minister Yousuf Raza Gilani has said that Drug Regulatory Authority and other issues would be resolved in the on-going negotiations with opposition on 20th Constitutional Amendment. He was talking to newsmen after the ground-breaking ceremony of Kur
Published 10 Feb, 2012 12:00am
Power shortfall drops by 1000 megawatts

Power shortfall drops by 1000 megawatts

Power shortfall dropped by 1000MW due to short supply of fuel from the Pakistan State Oil (PSO), said sources. Sources said power shortfall dropped to 9500MW from 10500MW during last 24 hours. It may be noted that power shortfall had improved substantiall
Published 10 Feb, 2012 12:00am
Residential areas: commercial activities cannot be allowed: LHC

Residential areas: commercial activities cannot be allowed: LHC

The Lahore High Court Chief Justice Sheikh Azmat Saeed here Thursday hearing a petition for seeking stay against commercial activities in Garden Town observed that commercial activities could not be allowed in residential areas.
Published 10 Feb, 2012 12:00am
TCP union opposes reinstatement of CEC employees

TCP union opposes reinstatement of CEC employees

Employees Union of Trading Corporation of Pakistan (TCP) has opposed the reinstatement of Cotton Export Corporation of Pakistan's (CEC) employees. According to TCP's CBA union, defunct CEC was wounded up by the government and a Voluntary Retirement Scheme
Published 10 Feb, 2012 12:00am
SNEOA observes strike against arrest of Executive Engineer

SNEOA observes strike against arrest of Executive Engineer

Sui Northern Executive Officers Association (SNEOA) observed strike along-with the Employees Union of SNGPL at the company's head-office and regional offices all over Punjab against the arrest of Executive Engineer, Shahid Shaukat by Federal Investigation
Published 10 Feb, 2012 12:00am
20th constitutional amendment: 'consensus between PPP, PML-N evolved

20th constitutional amendment: 'consensus between PPP, PML-N evolved

Consensus between the ruling Pakistan People's Party (PPP) and opposition Pakistan Muslim League-Nawaz (PML-N) has been developed on the draft of 20th constitutional amendment in the constitution, it was learnt. However, PPP has sought more time to take i
Published 10 Feb, 2012 12:00am
PHP arrest four accused

PHP arrest four accused

Punjab Highway Patrol (PHP) arrested 4 wanted culprits, recovered illicit arm and stolen thread. According to an official of PHP, Punjab Highway Patrol post Missa Kaswal, Jehlum received information from local police of PS Dina that some wanted accused ar
Published 10 Feb, 2012 12:00am
Demonstration held against drone attack

Demonstration held against drone attack

Tehrik-i-Insaf and Mutahidda Shehri Mahaz on Thursday staged a demonstration against US drone attacks and killing innocent people. The demo was led by Tariq Naeemullah Khan, Mian Tariq Arain, Shakoor Bhutto, and Islam Rehmani. Participants were chanting s
Published 10 Feb, 2012 12:00am
Registration of murder cases: petitioner asked to file separate plea

Registration of murder cases: petitioner asked to file separate plea

The Lahore High Court here on Thursday directed petitioner to file a separate petition annexing the labour ministry and others seeking registration of murder cases against the responsible of a deadly blast in a Multan Road medicine factory.
Published 10 Feb, 2012 12:00am
DFID deputy head calls on Khyber Pakhtunkhwa governor

DFID deputy head calls on Khyber Pakhtunkhwa governor

The Deputy Head of the Department of International Development (DFID) of Great Britain in Pakistan, Jane Edmondson accompanied by her Advisor, Rosemary Knight called on the Khyber Pakhtunkhwa Governor, Barrister Masood Kausar at Governor House, Peshawar o
Published 10 Feb, 2012 12:00am
Manzoor assumes charge as managing director OPF

Manzoor assumes charge as managing director OPF

Muhammad Manzoor, PSP Officer of Grade-21, who was working as Additional Director General Immigration, FIA Headquarter, has assumed the charge of Managing Director, Overseas Pakistanis Foundation, said a press release issued here on Thursday.
Published 10 Feb, 2012 12:00am
Zardari urges Pak-Tajik cooperation in energy, trade

Zardari urges Pak-Tajik cooperation in energy, trade

President Asif Ali Zardari on Thursday said Pakistan and Tajikistan need to work closely on infrastructure, energy connectivity and trans-regional economic co-operation projects such as CASA-1000. This was stated by President Asif Ali Zardari during his m
Published 10 Feb, 2012 12:00am
Government urged to stop collecting unfair taxes on POL products

Government urged to stop collecting unfair taxes on POL products

Agriculture Forum Pakistan Chairman Muhammad Ibrahim Mughal has alleged that the government is collecting Rs 250 billion per annum from the masses by levying unfair taxes on diesel and petrol. While talking to media here on Thursday, Mughal claimed that t
Published 10 Feb, 2012 12:00am
Hamza for jail reform in accordance with international standards

Hamza for jail reform in accordance with international standards

Jail reforms is the need of the hour, making the prisoners a useful citizen of the society instead of punishing them in jails, require to transform the prisons department according to international standard, said Hamza Shahbaz. Hamza Shahbaz, MNA, said wh
Published 10 Feb, 2012 12:00am
Draft of first-ever Textile Bill finalised

Draft of first-ever Textile Bill finalised

Textile Ministry has finalised the draft of first ever "Textile industry development, promotion and standard bill" and sent it to the Cabinet for approval, it is learnt. Informed sources revealed that Federal Minister for Textile Industry has signed the '
Published 10 Feb, 2012 12:00am
$758 million foreign disbursements received in seven months

$758 million foreign disbursements received in seven months

Pakistan received 758 million dollars foreign disbursements from 23 donors during the first seven months of the current fiscal year 2011-12, while the Asian Development Bank (ADB) remained the major financer to the country by providing 340.8 million dolla
Published 10 Feb, 2012 12:00am
Construction of bridges: CDA awards Rs 48 million project to HMC

Construction of bridges: CDA awards Rs 48 million project to HMC

The Capital Development Authority (CDA) has awarded the construction of three pedestrian bridges project at Rs 48 million cost to Highway Mechanical Complex (HMC). "HMC would complete the project into two phases. In the first phase, two pedestrian bridges
Published 10 Feb, 2012 12:00am
Smeda holds awareness session on ERKF

Smeda holds awareness session on ERKF

Small and Medium Enterprise Development Authority (Smeda) held orientation session at Women Business Development Centre (WBDC) to extend benefits of Multi-Donor Trust Fund (MDTF) funded project of 'Economic Revitalisation of Khyber Pakhtunkhwa and Fata to
Published 10 Feb, 2012 12:00am
'Only PTI can take country out of crises'

'Only PTI can take country out of crises'

Pakistan Tehreek-e-Insaf (PTI) provincial leader and former MNA, Nawabzada Khawaja Mohammad Khan Hoti said that his party as a sole political force to steer country out the prevailing messy situation, saying that unemployment, lawlessness, and corruption
Published 10 Feb, 2012 12:00am
Local producers reduce LPG prices

Local producers reduce LPG prices

The local producers reduced the prices of Liquefied Petroleum Gas (LPG) on Thursday by Rs 10 per kg ie Rs 100 per domestic cylinder and Rs 450 per commercial cylinder. The major LPG producers, during the last few weeks, had increased the LPG prices by Rs
Published 10 Feb, 2012 12:00am
Vehicles to be impounded for violating lanes

Vehicles to be impounded for violating lanes

Islamabad Traffic Police (ITP) has decided to take action against motorists and public transport on violation of lane. "ITP has conducted a survey at Peshawar Mor Chowk to know about the increasing road accidents and blockage of traffic. It was found that
Published 10 Feb, 2012 12:00am
Erra body approves development projects for Muzaffarabad city

Erra body approves development projects for Muzaffarabad city

The Steering Committee of Earthquake Rehabilitation and Reconstruc-tion Authority (Erra) on Thursday approved different projects worth rupees one billion for Muzaffarabad city. A meeting to oversee progress on Urban Development projects in Azad Kashmir wa
Published 10 Feb, 2012 12:00am
Stranded truckloads at Torkham causing huge losses: SCCI

Stranded truckloads at Torkham causing huge losses: SCCI

Acting President, Sarhad Chamber of Commerce and Industry (SCCI), Ziaul Haq Sarhadi said on Thursday that hundreds of truckloads of Afghan transit commercial cargo are stranded at the Torkham border and Takhta Baig check post, causing huge financial losse
Published 10 Feb, 2012 12:00am
US keen to further strengthen economic ties with Pakistan: CG

US keen to further strengthen economic ties with Pakistan: CG

The US Consul General Ms Nina M Fite said the United States is keen to further strengthen its economic relations with Pakistan and to achieve the goal the US Consulate is in constant contact with the State Department officials in Washington and Pakistani
Published 10 Feb, 2012 12:00am
Centre for gems, jewellery to be set up: minister

Centre for gems, jewellery to be set up: minister

Federal Minister for Commerce, Makhdoom Amin Fahim said that a gems & jewellery centre will be set up in the region in collaboration with Rawalpindi Chamber of Commerce and Industry to promote gem industry. The chamber is playing pivotal role for the econ
Published 10 Feb, 2012 12:00am
Commerce ministry holds seminar on regional transit trade

Commerce ministry holds seminar on regional transit trade

Ministry of Commerce organised a seminar on "how to rationalise existing transit trade and transport agreements" on Thursday. The objective of the seminar is to disseminate information on regional trade and economic connectivity and to generate new idea f
Published 10 Feb, 2012 12:00am
Government committed to meeting housing needs of people: Prime Minister

Government committed to meeting housing needs of people: Prime Minister

Prime Minister, Syed Yousuf Raza Gilani Thursday said his government is committed to meet the housing needs of government servants and people of low-income groups. He was addressing the groundbreaking event of Kurri Road Housing Scheme aimed at catering t
Published 10 Feb, 2012 12:00am
Energy-saver bulbs to be distributed from April

Energy-saver bulbs to be distributed from April

Federal Minister for Water and Power, Syed Naveed Qamar has directed on Thursday to launch Compact Fluorescent Lamps (CFLs) (energy saver bulbs) distribution programme from April throughout the country, says a press release. He said while presiding over a
Published 10 Feb, 2012 12:00am
Nadra carries out data entry: ECP meeting reviews situation

Nadra carries out data entry: ECP meeting reviews situation

A meeting of Election Commission of Pakistan (ECP) was held here to review the electoral preparedness with Chief Election Commissioner, former justice Hamid Ali Mirza, in the chair. The meeting was also attended by members of EC including Justice Mohammad
Published 10 Feb, 2012 12:00am
FTO concerned at piling up of duty drawback claims

FTO concerned at piling up of duty drawback claims

Federal Tax Ombudsman (FTO) Dr Muhammad Shoaib Suddle has expressed concern over huge blockage of rebate/duty drawback claims of exporters by the customs authorities despite repeated directions of the FTO on clearance of pending claims. In a latest order,
Published 10 Feb, 2012 12:00am
FROM A RINGSIDE SEAT: Wrangling over 20th Amendment Bill continues

FROM A RINGSIDE SEAT: Wrangling over 20th Amendment Bill continues

The wrangling between two major political parties over 20 Constitutional Amendment have made all the other issues hostage, but thanks to the senators in the upper House who spoke of simmering situation in Balochistan. The amendments on the agenda for the
Published 10 Feb, 2012 12:00am
APNS condoles death of Zakir Ali Khan

APNS condoles death of Zakir Ali Khan

The All Pakistan Newspapers Society expresses its profound grief over the sad demise of Muhammad Zakir Ali Khan, Publisher and Honorary Chief Editor of Monthly Tehzeeb, Karachi. The veteran publisher was also the General Secretary of Aligarh Muslim Univer
Published 10 Feb, 2012 12:00am
Five persons killed in accidents

Five persons killed in accidents

At least five persons including a teenager lost their lives in road accidents in various parts of the metropolis, here on Thursday. According to police and rescuers, an oil tanker (TLG-156) hit Nasrullah, 42, son of Abdul Rehman and his son Meraj, 12, whe
Published 10 Feb, 2012 12:00am
UK team due today to examine dead shark

UK team due today to examine dead shark

The team of UK-based science documentary makers is expected to arrive at the Karachi fish harbour on Friday to carry out research and make documentary on the mammoth whale shark captured a couple of days ago, officials said on Thursday.
Published 10 Feb, 2012 12:00am
Sindh government to build modern grain storage facilities

Sindh government to build modern grain storage facilities

Sindh government has decided to construct 'modern grain storage facilities' under public private partnership (PPP) mode, initially of 25,000 MT grain storage, in five districts including Ghotki, Khairpur Mir's, Sanghar, Shaheed Benazirabad and Karachi. Th
Published 10 Feb, 2012 12:00am
Officials say whale shark was already dead

Officials say whale shark was already dead

Officials on Thursday revealed the recently caught whale shark was already dead when the local fishermen snared it two days ago, discrediting the boat captain's claims that they had killed it before dragging towards Karachi Fish Harbour. "The primary exam
Published 10 Feb, 2012 12:00am
Arrar Mughlan Small Dam to be launched

Arrar Mughlan Small Dam to be launched

Secretary Irrigation Punjab, Irfan Elahi, has said that Arrar Mughlan Small Dam would be completed by end of the year with Rs 450 million including land cost of Rs 115 million. He said that Arrar Mughlan Small Dam is located near village Saba Maliaran, Di
Published 10 Feb, 2012 12:00am
Two persons including woman gunned down

Two persons including woman gunned down

At least two persons including a woman were gunned down in separate incidents at various parts of the metropolis here on Thursday. According to police, an elder woman was shot dead while two others sustained injuries at Noor Khan Goth in the limits of Soh
Published 10 Feb, 2012 12:00am
Sindh University Senate: names of college teachers notified

Sindh University Senate: names of college teachers notified

The Registrar University of Sindh has notified the names of college teachers elected unopposed members on reserved seats of the Senate of the University. According to notification, 12 teachers from the affiliated colleges.
Published 10 Feb, 2012 12:00am
'Heimtextile' event 45 exhibitors represent Pakistan

'Heimtextile' event 45 exhibitors represent Pakistan

Pakistan had successful participation at 'Heimtextile' event with a total of 223 exhibitors displaying bed sheets, towels, curtains and kitchen linen. Trade Develop-ment Authority of Pakistan organised a pavilion on the occasion with 45 exhibitors. Heimte
Published 10 Feb, 2012 12:00am
ATCs face hazards due to congestion in airspace

ATCs face hazards due to congestion in airspace

Congestion in Pakistan's airspace, particularly after midnight until 6 am is a big hazard for the Air Traffic Controllers (ATCs), an official of Civil Aviation Authority (CAA) told Business Recorder on condition of anonymity, here on Thursday. Capt
Published 10 Feb, 2012 12:00am
Bank guarantee: TI Pakistan takes up issue of exemption to NLC

Bank guarantee: TI Pakistan takes up issue of exemption to NLC

Transparency International Pakistan has taken up the issue of exemption from providing bank guarantee against performance security and mobilisation advance granted by the Planning & Development Division to M/s NLC on June 29, 2000 with Minister of Finance
Published 10 Feb, 2012 12:00am
SSGC's recovery drive against defaulters in full swing

SSGC's recovery drive against defaulters in full swing

The Sui Southern Gas Company's (SSGC's) recovery drive against its defaulters has moved into full swing. According to a press release issued here on Thursday, from February 9 onwards, the Company's Recovery Department has entered into a new phase of disco
Published 10 Feb, 2012 12:00am
LUMHS, Pak-Turk ICEF sign MoU

LUMHS, Pak-Turk ICEF sign MoU

Liaquat University of Medical and Health Sciences (LUMHS), Jamshoro on Thursday signed a Memorandum of Understanding (MoU) with Pak-Turk International Educational Foundation (ICEF) for establishment of standardised school in the premises of the university
Published 10 Feb, 2012 12:00am
PSO announces results of first half fiscal year 2012

PSO announces results of first half fiscal year 2012

The Board of Management of Pakistan State Oil (PSO) convened on Thursday at PSO House to review the company's performance over the first half (July-December 2011) of FY12. According to a press release, in the period under review PSO revenues touched Rs 57
Published 10 Feb, 2012 12:00am
Yaseen's signature: SBP begins issuing notes today

Yaseen's signature: SBP begins issuing notes today

The State Bank of Pakistan (SBP) has started issuing banknotes with the signature of SBP Governor, Yaseen Anwar with effect from Friday (February 10). The banknotes bearing the signature of Yaseen's predecessors will continue to remain in circulation as l
Published 10 Feb, 2012 12:00am
No big gains

No big gains

The National Assembly on Wednesday passed the State Bank of Pakistan Amendment Bill 2011. These amendments were approved by the Senate of Pakistan in a diluted form and were found to be different from those approved by the National Assembly earlier. So, a
Published 10 Feb, 2012 12:00am
Reining in agencies' powers

Reining in agencies' powers

While the Supreme Court is hearing two petitions, one pertaining to enforced disappearances in Balochistan and the other detention by military intelligence agencies of 11 civilians four of whom died in custody, three Jamaat-i-Islami senators have submitte
Published 10 Feb, 2012 12:00am
Recouping tax losses

Recouping tax losses

Successive governments in Pakistan - civil and military alike - have demonstrated criminal apathy and negligence in promoting tax evasion and flight of capital from Pakistan. It was legalised by the government of Nawaz Sharif with the dollarization of the
Published 10 Feb, 2012 12:00am
An alternative of SRO 821(I)/2011: Tax swap for undocumented sectors

An alternative of SRO 821(I)/2011: Tax swap for undocumented sectors

I saw the participants started walking out of the seminar hall as soon as a senior tax official took the floor and began to dilate upon ancient and decades old tales of the 'ongoing' tax reforms and never-ending agonies for the low tax-to-GDP ratio, undoc
Published 10 Feb, 2012 12:00am
Going wireless

Going wireless

Internet access has been available in Pakistan since the mid-1990s, when the national carrier started offering access via the nation-wide local call network in 1995. By early 2006 Internet penetration remained low. However, there were signs that this was
Published 10 Feb, 2012 12:00am
Gas to fertilizer sector

Gas to fertilizer sector

In 2011 from 1st January till October 31st, fertiliser plants on the SNGPL network received equivalent of only 3.5 days of gas per week relative to other sectors who received 4 to 5 days of gas a week. It is important to note here that gas is used by the
Published 10 Feb, 2012 12:00am
Sindh CNG stations to close for 24 hours

Sindh CNG stations to close for 24 hours

All CNG stations in the province will remain closed for 24 hours from 9 am on Saturday, February 11 till 9 am on Sunday, February 12. According to an announcement of Sui Southern Gas Company, here on Thursday, this step is being taken by the gas utility t
Published 10 Feb, 2012 12:00am
More rains, snowfall likely

More rains, snowfall likely

Met office on Thursday forecast more rain with snowfall over the hills in different parts of the country during the week. It said in its fresh weather advisory that another westerly wave was heading towards Pakistan and likely to enter Balochistan on Satu
Published 10 Feb, 2012 12:00am
Non-payment of salaries: doctors, paramedic staff storm Civic Centre

Non-payment of salaries: doctors, paramedic staff storm Civic Centre

Contractual doctors and paramedics of Abbasi Shaheed Hospital, Qatar Hospital, Karachi Institute of Heart Diseases (KIHD) and other hospitals protesting against non-payment of their salaries and regularisation of services stormed into Civic Centre and ran
Published 10 Feb, 2012 12:00am
Samba Bank opens branches in Lahore, Islamabad

Samba Bank opens branches in Lahore, Islamabad

Samba Bank Limited has opened two new branches, one each in Allama Iqbal Town, Lahore and F-7, Islamabad, with the latter also housing the area office for Northern Areas. The branches were inaugurated by Dr Shujaat Nadeem, member board of Samba Bank Limit
Published 10 Feb, 2012 12:00am
HRCP condemns action against Sindh University teachers

HRCP condemns action against Sindh University teachers

The Human Rights Commission of Pakistan (HRCP) has strongly condemned the recent developments at Sindh University (SU) where, following the killing of Professor Bashir Channar on January 02, unjustified action has been taken against protesting teachers.
Published 10 Feb, 2012 12:00am
Prime Minister approves Pakistan Space Policy: Suparco chief

Prime Minister approves Pakistan Space Policy: Suparco chief

Prime Minister of Pakistan Syed Yousuf Raza Gilani has approved Pakistan Space Policy and it is likely to be presented in National Assembly for its consideration and approval soon, Chairman, Pakistan Space and Upper Atmosphere Research Commission (SUPARCO
Published 10 Feb, 2012 12:00am
Sindh University agitating teachers asked to resume classes

Sindh University agitating teachers asked to resume classes

The Vice Chancellor University of Sindh Dr Nazir Ahmed Mughal has said that his doors are open for negotiations with agitating teachers and appealed them to resume the classes immediately to avoid further loss of students. He was speaking at a ceremony of
Published 10 Feb, 2012 12:00am
Dr Qaiser appointed vice chancellor Karachi University

Dr Qaiser appointed vice chancellor Karachi University

Professor Dr Muhammad Qaiser has been appointed as new Vice Chancellor of Karachi University. A notification issued here from Governor's House said Sindh Governor Sindh, Dr Ishrat ul Ebad Khan, who is also the chancellor of public sector universities in t
Published 10 Feb, 2012 12:00am
KhUJ announces welfare plans for journalists' children

KhUJ announces welfare plans for journalists' children

Khyber Union of Journalists (KhUJ) has announced payment of scholarships and cash prizes to children of journalists on getting distinctions in annual examinations of 2012. Similarly, members will also give awards on good reporting, photography, audio and
Published 10 Feb, 2012 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

Gold prices rose on Thursday as the dollar fell against the euro after Greece agreed to fiscal austerity measures, but analysts said the metal could pull back due to the continued challenges of the euro zone debt crisis Bullion broke ranks with lower US e
Published 10 Feb, 2012 12:00am
US MIDDAY: wheat dives

US MIDDAY: wheat dives

Wheat tumbled nearly 2 percent and corn and soyabeans eased off early highs on Thursday, when traders found little encouraging news in a US government crop report. The US Department of Agriculture report cut crop and supply forecasts in line with expectat
Published 10 Feb, 2012 12:00am
Gold soars in London

Gold soars in London

Gold prices rose 1 percent on Thursday as the euro rallied to a fresh two-month high against the dollar after Greece clinched a deal with European Union and IMF leaders needed to avoid a messy default. Spot gold was up 0.8 percent at $1,746.66 an ounce at
Published 10 Feb, 2012 12:00am
Gold rises in Asia

Gold rises in Asia

Gold edged higher on Thursday, buoyed by a euro strengthened by hopes Greece was moving closer to a bailout deal, and surprisingly strong China inflation also supported sentiment. Spot gold edged up 0.1 percent to $1,735.69 an ounce by 0803 GMT, recoverin
Published 10 Feb, 2012 12:00am
Gold down in New York

Gold down in New York

Gold fell almost 1 percent on Wednesday on new worries about Europe's economy and as technical resistance prompted investors to take profits after the previous session's rally. Spot gold was down 0.7 percent at $1,732.49 an ounce by 2:44 pm (1944 GMT). US
Published 10 Feb, 2012 12:00am
Robusta coffee up

Robusta coffee up

Robusta coffee futures rose on Thursday partly because bean exports from Vietnam slowed and could force buyers to draw down European stocks, with a weak dollar giving a boost to both coffee and sugar values. The commodity complex was also bolstered by inc
Published 10 Feb, 2012 12:00am
Palm oil slips

Palm oil slips

Malaysian crude palm oil slipped on Thursday after rallying the previous day as traders booked profits ahead of the release of two key reports, while uncertainty over the euro zone debt crisis also dampened investors' risk appetite. The market is keeping
Published 10 Feb, 2012 12:00am
Grains end steady

Grains end steady

Grains seesawed on Wednesday in thin, choppy trade before ending little changed, as investors placed their bets ahead of a key US Department of Agriculture (USDA) report on Thursday. Improving weather for European wheat and South American corn and soybean
Published 10 Feb, 2012 12:00am
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