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Archive - 2012-02-24
RECORDER REPORT: KSE close of day
Top News

RECORDER REPORT: KSE close of day

KARACHI : Bullish trend was witnessed at the Karachi share market on Friday on the back of aggressive buying by both l
Published 24 Feb, 2012 03:00pm
PM, DG ISI discuss security situation
Top News

PM, DG ISI discuss security situation

ISLAMABAD: Director General of Inter Services Intelligence (ISI) Lt Gen Ahmad Shuja Pasha called on Prime Minister Syed
Published 24 Feb, 2012 02:58pm
Iron ore spot prices gain in China
Top News

Iron ore spot prices gain in China

SINGAPORE: Spot prices of imported iron ore in China rose on Friday as traders bid up the market, betting on a recovery
Published 24 Feb, 2012 07:40am
RECORDER REPORT: KSE mid day update
Top News

RECORDER REPORT: KSE mid day update

KARACHI: On Friday until end of first half, KSE-100 Index remained positive and was at 12,631.77 with a positive change
Published 24 Feb, 2012 07:33am
Rs.1798.987bn notes in circulation
Top News

Rs.1798.987bn notes in circulation

LAHORE: The total number of currency notes in circulation throughout the country increased to Rs.1798.987 billion, accor
Published 24 Feb, 2012 07:14am
Asian shares broadly higher
Financial

Asian shares broadly higher

HONG KONG: Asian shares were generally higher Friday, tracking gains on Wall Street on the back of positive US employmen
Published 24 Feb, 2012 06:36am
Japan pledges $530m loans to Iraq
Top News

Japan pledges $530m loans to Iraq

TOKYO: Japan is to offer $530 million in loans to Iraq, in part to help rebuild oil refineries, an official said Friday,
Published 24 Feb, 2012 05:29am
Memorable Oscars moments
Arts

Memorable Oscars moments

HOLLYWOOD: From winners sobbing uncontrollably to shocking political outbursts, bizarre snubs and streakier the Oscars h
Published 24 Feb, 2012 05:08am
Tokyo stocks flat by noon
Financial

Tokyo stocks flat by noon

TOKYO: Tokyo shares ended the morning session flat on Friday after jumping in and out of positive territory in the absen
Published 24 Feb, 2012 04:54am
Shares inch up but growth worry caps
Top News

Shares inch up but growth worry caps

TOKYO: Asian shares crept higher on Friday as solid US data improved sentiment, but gains may be limited by concerns tha
Published 24 Feb, 2012 03:00am
OGDC rides on improved prices
BR Research

OGDC rides on improved prices

The countrys largest E&P Company OGDCL said its 1HFY12 earnings improved by 32 percent versus the corresponding period of last year. Yet, th
Published 24 Feb, 2012 12:00am
Investors expect no rate cut
BR Research

Investors expect no rate cut

Breaking away from the usual trend, the Treasury bill auction held on Wednesday failed to garner adequate funds. With investors eyeing highe
Published 24 Feb, 2012 12:00am
OGDC rides on improved prices
BR Research

OGDC rides on improved prices

The countrys largest E&P Company OGDCL said its 1HFY12 earnings improved by 32 percent versus the corresponding period of last year. Yet, th
Published 24 Feb, 2012 12:00am
Youth parliamentarians urged to take part in policy-making processes

Youth parliamentarians urged to take part in policy-making processes

Faisal Karim Kundi, Deputy Speaker of National Assembly has urged Youth Parliamentarians to take part in policy making process at the national level, saying the government and Parliament would encourage them in this regard. He said this while addressing t
Published 24 Feb, 2012 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (February 23, 2012).

Published 24 Feb, 2012 12:00am
Project launched to set up HDC for dengue treatment

Project launched to set up HDC for dengue treatment

The Punjab government has launched a project of Rs 99 million in Nishtar Hospital to construct a High Dependency Unit (HDC) for the treatment of dengue fever. This was disclosed by the Commissioner Multan Division Muhammad Khurram Agha while chairing a me
Published 24 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 23, 2012).

Published 24 Feb, 2012 12:00am
Sindh Assembly PAC to meet on February 28

Sindh Assembly PAC to meet on February 28

Sindh Assembly's Public Accounts Committee (PAC) would start its meeting from February 28, 2012 with Chairman, Jam Tamachi Unarr in the chair at the committee room of assembly building.
Published 24 Feb, 2012 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 24 Feb, 2012 12:00am
'60,000 megawatts electricity can be produced through coal'

'60,000 megawatts electricity can be produced through coal'

Governor Punjab Latif Khosa said on Thursday that Pakistan can produce 60,000MW electricity through coal to meet its demand of next 100 years besides other resources including wind and solar. He passed these comments during his meeting with a delegation o
Published 24 Feb, 2012 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 24 Feb, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (February 23, 2012).

Published 24 Feb, 2012 12:00am
Punjab Assembly session summoned

Punjab Assembly session summoned

Punjab Governor has summoned the session of provincial assembly of Punjab to meet today (Friday) February 24, 2012 at 3.00pm, it was officially announced Thursday evening. The official notification said that speaker Rana Mohammad Iqbal Khan will preside o
Published 24 Feb, 2012 12:00am
The Weather

The Weather

The weather report on Thursday (February 23, 2012) and the forecast for Friday (February 24, 2012).

Published 24 Feb, 2012 12:00am
Textile sector opposes government departments' visits

Textile sector opposes government departments' visits

After lifting of ban on raids on industrial units in the wake of Kharak disaster at Lahore, EOBI, Social Security and Labour Department have started visiting factories and mills in Faisalabad resulting in panic and harassment among the business community.
Published 24 Feb, 2012 12:00am
Use of CNG in public vehicles allowed till March 15

Use of CNG in public vehicles allowed till March 15

The government, keeping in view the problems being faced by the commuters, has allowed transporters to use Compressed Natural Gas (CNG) in public transport up to March 15. Earlier, the ministry of petroleum has banned refilling/use of CNG cylinders in pub
Published 24 Feb, 2012 12:00am
Five including political activist gunned down

Five including political activist gunned down

At-least five persons including an activist of Muttahida Qaumi Movement (MQM) were killed in separate incidents in various parts of the metropolis, here on Thursday. According to police and eyewitnesses, Mohammad Ali, 32 son of Abdul Karim and 22-year-old
Published 24 Feb, 2012 12:00am
LCCI demands 50 percent representation of private sector in Ogra

LCCI demands 50 percent representation of private sector in Ogra

Lahore Chamber of Commerce and Industry (LCCI) has demanded of the government to provide 50 percent representation to the private sector by reorganising the Oil and Gas Regulatory Authority (Ogra). LCCI President Irfan Qaiser Sheikh, while criticising Ogr
Published 24 Feb, 2012 12:00am
President, Prime Minister condemn blast in Peshawar

President, Prime Minister condemn blast in Peshawar

President Asif Ali Zardari and Prime Minister Syed Yusuf Raza Gilani on Thursday strongly condemned the bomb blast at a bus stand in Peshawar that killed several people and injured many others. The President in a message said the government was determined
Published 24 Feb, 2012 12:00am
Entrepreneurs Organisation celebrates 25th anniversary

Entrepreneurs Organisation celebrates 25th anniversary

On Monday, 13th February, Kevin Langley, Global Chairman of Entrepreneurs' Organisation visited the landmark "Tomb of Quaid-e-Azam Mohammad Ali Jinnah" to pay tribute to the father of the nation. EO members celebrated the 25th anniversary of EO with its t
Published 24 Feb, 2012 12:00am
LNH's symposium today

LNH's symposium today

Pre-symposium activities are at their height with workshops and highly skilled courses taking place at Liaquat National Hospital and main symposium will be inaugurated on Friday. A 2-day intensive Cadaveric Total Knee and Total Hip Arthroplasty Course was
Published 24 Feb, 2012 12:00am
PML-LM set to make alliance with PML-N

PML-LM set to make alliance with PML-N

Despite being ignored in Senate polls, the like-minded faction of Pakistan Muslim League-Q is all set to make an alliance with Pakistan Muslim League-Nawaz (PML-N) to contest upcoming general elections. According to insiders, the PML-Q like-minded had bee
Published 24 Feb, 2012 12:00am
Protest by missing persons' families enters eighth day

Protest by missing persons' families enters eighth day

'Kayani uncle please bring my papa back...I want him home, please help me out I appeal you', reads a placard in the hands of an innocent child, who knows nothing of statecraft, at a camp for recovery of missing persons, set up by Defence of Human Rights P
Published 24 Feb, 2012 12:00am
Tug of war in Planning Commission over 15 shelved project

Tug of war in Planning Commission over 15 shelved project

A tug of war has started between contract employees including advisors, consultants and permanent employees, chiefs of various sections in the Planning Commission of Pakistan over shelving of 15 capacity building projects, it is learnt.
Published 24 Feb, 2012 12:00am
Nokia, djuice conduct 'Developer Workshop'

Nokia, djuice conduct 'Developer Workshop'

With a vision to cater to students with a knack for mobile application development at the university level, Nokia Pakistan and djuice conducted a 'Developer Workshop' at NED University which focused on imparting training to the students on S40 devices.
Published 24 Feb, 2012 12:00am
SAI concerns over law, order situation

SAI concerns over law, order situation

Site Association of Industry (SAI) concerned over the recent deterioration of law and order situation, particularly street crimes like mobile, valuable snatchings and harassing industrialists in Karachi site area. Although after our all efforts and contin
Published 24 Feb, 2012 12:00am
E&P sector posts earnings growth of 28 percent

E&P sector posts earnings growth of 28 percent

The listed Exploration and Production (E&P) sector posted an earnings growth of 28 percent to Rs 69 billion during the first half of FY12, as against Rs 54 billion in the same period in FY11. "The improved profitability is on the back of better pricing sc
Published 24 Feb, 2012 12:00am
Imported used cars destroying local industry: Paapam

Imported used cars destroying local industry: Paapam

Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) has expressed concern on continues dumping/ import of used cars into Pakistan. Over the last six month over 33,000 used cars that are older then 5 years have been shipped into
Published 24 Feb, 2012 12:00am
Power supply improves marginally

Power supply improves marginally

Power supply has improved marginally, crossing 9,000MW from earlier level of below 8,000MW with increase in fuel supply to the thermal units, said sources. It may be noted that heavy power outages during the last few days, for 10 hours in urban areas whil
Published 24 Feb, 2012 12:00am
Admiral Nishat joins MQM

Admiral Nishat joins MQM

Admiral M Nishat Rafi (Retd) has announced to join Muttahida Qaumi Movement (MQM). He made this announcement while addressing a news conference at MQM headquarters Nine Zero here on Thursday. Members MQM Co-ordination Committee also accompanied him.
Published 24 Feb, 2012 12:00am
UHS ranked No 1

UHS ranked No 1

The Higher Education Commission (HEC) has ranked University of Health Sciences (UHS) as No "one" public sector medical university of Pakistan, with overall 8th position amongst 136 public and private sector higher education institutions (HEIs) of the coun
Published 24 Feb, 2012 12:00am
Production minister visits PSM

Production minister visits PSM

The Ministry of Production was taking concrete measures to improve the production capacity of Pakistan Steel Mills (PSM) and the government was also working on a plan for expansion not privatisation of mills. These views were expressed by Federal Minister
Published 24 Feb, 2012 12:00am
Two killed in private training plane crash

Two killed in private training plane crash

A small training aeroplane crashed here in Model Town area on Thursday, killing both a woman pilot and trainee pilot on the spot. The two-seater Cessna 152, belonging to Hybrid Aviation took-off from the Walton Airport on a training flight but the plane c
Published 24 Feb, 2012 12:00am
Midwife arrested for dumping female fetuses

Midwife arrested for dumping female fetuses

Sindh police on Thursday claimed to have arrested a midwife over the charge of dumping five female fetuses in a garbage drum on February 12. According to SHO Mehmoodabad, the arrest was made on the information of accused Hameed, detained on the identifica
Published 24 Feb, 2012 12:00am
UBL acquires 67.4 percent shares of KBL

UBL acquires 67.4 percent shares of KBL

United Bank Limited (UBL) consortium has been selected higher bidder for acquisition 67.4 percent shares of Khushkhali Bank Limited (KBL).
Published 24 Feb, 2012 12:00am
Schneider Electric unveils switch-gear products

Schneider Electric unveils switch-gear products

Schneider Electric, a global specialist in energy management Thursday launched two new world-class switchgear products, namely, Blokset and Prisma iPM for the first time in Pakistan. Developing the products at their state-of-the-art plant located in Karac
Published 24 Feb, 2012 12:00am
Gender equality: WDI report says Pakistan lags behind

Gender equality: WDI report says Pakistan lags behind

Pakistan has been lagging behind in the region in terms of promoting gender equality, especially in education particularly in terms of enrolment of girls to boys' ratio at primary and secondary education's, according World Development Indicators report 20
Published 24 Feb, 2012 12:00am
KSE to de-list 21 companies

KSE to de-list 21 companies

The Karachi Stock Exchange (KSE) intends to de-list some 21 listed companies. In a notice, the KSE on Thursday informed these 21 companies are under process of liquidation or liquidators have been appointed, and trading in the shares of the companies' rem
Published 24 Feb, 2012 12:00am
Ongoing investment in human resource at HBFCL

Ongoing investment in human resource at HBFCL

House Building Finance Company Limited - HBFCL is enacting a wide-ranging programme to build the capacity and skills of its employees. This investment in the people, the most valuable asset of any organisation, is an integral part of its overall ongoing t
Published 24 Feb, 2012 12:00am
SRB, FBR officials to meet on February 28

SRB, FBR officials to meet on February 28

In order to discuss many pending issues, Sindh Revenue Board's (SRB) two-member team comprised on Member (Tax Policy) and Member (SS and A) would meet with officials of Federal Board of Revenue (FBR) on February 28, 2012.
Published 24 Feb, 2012 12:00am
Tourism Malaysia unveils growth plan, strategies

Tourism Malaysia unveils growth plan, strategies

In 2001, Pakistan accounted for a mere 15,768 arrivals into Malaysia. As a result, this market was not considered to be an important source market for tourists to Malaysia. However, over the past few years, the arrival numbers have really picked up and we
Published 24 Feb, 2012 12:00am
Pak-Iran Gas Project: president's statement hailed

Pak-Iran Gas Project: president's statement hailed

Tariq Sayeed, Chairman Pak-Iran Business Council and Vice President of the Confederation of Asia Pacific Chambers of Commerce & Industry (CACCI) has fervidly hailed Asif Ali Zardari, President of Pakistan for his bold statement that ties with Iran will no
Published 24 Feb, 2012 12:00am
FIA assistant director jailed for corruption

FIA assistant director jailed for corruption

In a follow up and revival of NRO cases by National Accountability Bureau (Sindh), Agha Ishrat Ali, Assistant Director, FIA has been jailed by Accountability Court No 2, Karachi. NAB is proceeding with precision and swiftness after appointment of its Chai
Published 24 Feb, 2012 12:00am
Zia elected ICMAP President

Zia elected ICMAP President

Zia-ul Mustafa Awan, FCMA, is elected President of ICMAP for the period 2012-2014. He is the youngest president of the institute, since the institute's inception in the year 1951. He has attained this position at the age of 37 years, which is a symbol of
Published 24 Feb, 2012 12:00am
Three different protests held; 35 arrested

Three different protests held; 35 arrested

As many as 35 protesters were arrested while one other injured when they tried to enter in red zone in the limits of Artillery Maidan police station on Thursday. According to eye-witnesses, three different protest demonstrations - Sindh Taraqi Pasand Part
Published 24 Feb, 2012 12:00am
Commecs College observes 'International Library Day'

Commecs College observes 'International Library Day'

Commecs College celebrated "International Library Day" on Tuesday, February 21, 2012. Professor Farhat Hussain of the Department of Library and Information Sciences, University of Karachi graced the occasion as the chief guest, whereas Ms Rubina Feroz, Ch
Published 24 Feb, 2012 12:00am
PIA gets 'Best Hajj Service Provider' award

PIA gets 'Best Hajj Service Provider' award

The 7th Consumers Choice Award Ceremony organised by Consumer Association of Pakistan held at a local hotel in Karachi on Wednesday, where 104 manufacturers, companies and service providers of Pakistan were awarded shields for their quality products and s
Published 24 Feb, 2012 12:00am
OICCI launches 'Perception and Investment Survey'

OICCI launches 'Perception and Investment Survey'

Foreign investors and members of Overseas Investors Chamber of Commerce and Industry have indicated positive investment plans for next few years, despite issues of security, access to energy and governance. Moreover, there are concerns related to contract
Published 24 Feb, 2012 12:00am
WFP, NDMA sign accord to build 9 response facilities

WFP, NDMA sign accord to build 9 response facilities

The World Food Programme (WFP) has decided to construct 'humanitarian response facilities' across the country to enhance technical knowledge of the people to respond to the natural calamities in future.
Published 24 Feb, 2012 12:00am
Parveen Shah takes charge as SU vice chancellor

Parveen Shah takes charge as SU vice chancellor

Governor Sindh, Ishratul Ebad, who is a Chancellor of the Universities of Sindh Province, has allowed Professor Dr Nazir A. Mughal Vice Chancellor Sindh University to proceed on leave till further orders. Professor Dr Parveen Shah Pro-Vice Chancellor Main
Published 24 Feb, 2012 12:00am
Sufi music concert on February 25

Sufi music concert on February 25

Arifana Kalam-Sufi poetry for the soul will mesmerise the classical music lovers here on February 25 with message of love, tolerance and harmony composed in lyrical forms set to the tunes of local folk music of the Indus Valley. The Institute for Preserva
Published 24 Feb, 2012 12:00am
Youth can make Pakistan a leading nation: Khyber Pakhtunkhwa Governor

Youth can make Pakistan a leading nation: Khyber Pakhtunkhwa Governor

Khyber Pakhtunkhwa Governor, Barrister Masood Kausar has said that the Pakistan's bright future depends on how the youth have been developed, and how much responsibility they show in real life and we, as the nation expect that our new generation will perf
Published 24 Feb, 2012 12:00am
SECP introduces fast-track registration services

SECP introduces fast-track registration services

The Securities and Exchange Commission of Pakistan (SECP) has introduced the Fast Track Registration Services (FTRS) at its 8 Company Registration Offices. The companies, which are presently being incorporated within three working days, which is at par wi
Published 24 Feb, 2012 12:00am
Capital police arrest 10 suspects

Capital police arrest 10 suspects

The capital police have booked 10 suspects, five outlaws and five proclaimed offenders from various areas of the city and recovered three pistols, hashish as well as looted items from their possession. During a search operation in the jurisdiction of Tarn
Published 24 Feb, 2012 12:00am
PVMA threatens to stage sit-in in front of Parliament House

PVMA threatens to stage sit-in in front of Parliament House

Pakistan Vanaspati Manufacturers' Association (PVMA) on Thursday threatened to stage sit-in in front of Parliament's House if their demands were not accepted. Addressing a press conference here on Thursday, Abdul Wahid Sheikh, Chairman PVMA, said that the
Published 24 Feb, 2012 12:00am
APO hosts top management forum in Kyoto

APO hosts top management forum in Kyoto

Asian Productivity Organisation (APO) in collaboration with the Ministry of Economy, Trade and Industry Japan and Japan Productivity Centre organised 28th Top Management Forum at Kyoto International Conference in Kyoto, Japan, said a Pakistani participant
Published 24 Feb, 2012 12:00am
Patronisation to revive old glories of Sindhi music: Sassui

Patronisation to revive old glories of Sindhi music: Sassui

Sindh Minister for Culture Sassui Palijo has said that old glories of Sindhi music would be revived by its patronisation and promotion. This she said while addressing inaugural ceremony of Mehran Music School at the auditorium of Mehran Arts Council Latif
Published 24 Feb, 2012 12:00am
'Constructive youth engagement' PC invites proposals by February 27

'Constructive youth engagement' PC invites proposals by February 27

Planning Commission of Pakistan is inviting proposals on "Constructive Youth Engagement". Youth and community engagement is critically important to bring new and innovative ideas for creating opportunities. Moreover, government is fully committed to provi
Published 24 Feb, 2012 12:00am
International seminar on Rani Kot to be held this year: Malkani

International seminar on Rani Kot to be held this year: Malkani

The Sindh Minister for Tourism Mohammad Ali Malkani said that an international seminar on the Rani Kot would be conducted with the consultation and collaboration of the Sindh Cultural Department, Archaeological Department and World Heritage Organisations
Published 24 Feb, 2012 12:00am
SRB versus FBR

SRB versus FBR

A dispute between the Sindh Revenue Board (SRB) and the Federal Board of Revenue (FBR) has erupted as to which entity can collect due taxes from restaurants and caterers. Is food served in restaurants and provided by caterers a service which, according to
Published 24 Feb, 2012 12:00am
The FATF and the Furious

The FATF and the Furious

The Financial Action Task Force (FATF), an inter-governmental body set up to combat money laundering, financing of terrorism and proliferation of weapons of mass destruction, has placed Pakistan on its money laundering blacklist for "flaunting recommendat
Published 24 Feb, 2012 12:00am
Economic decisions ahead of general election

Economic decisions ahead of general election

A lot has been said and written about the state of the economy in the last few years. Independent economists and domestic and international professional organisations like the State Bank of Pakistan (SBP), the International Monetary Fund (IMF), the World
Published 24 Feb, 2012 12:00am
FBR's shenanigans

FBR's shenanigans

The International Monetary Fund (IMF), in a recent report, has projected a shortfall of Rs 29 billion in revenue collection by the Federal Board of Revenue (FBR) against the target of Rs 1952 billion fixed for the current fiscal year (FY12). In FY11, the
Published 24 Feb, 2012 12:00am
Restructuring of PSEs

Restructuring of PSEs

The government has started some concrete measures to improve the performance of eight Public Sector Enterprises. The Cabinet's Committee on Restructuring (CCOR) has identified PIA, Steel Mills, Pepco, Pakistan Railways, NHA, PASSCO, Trading Corporation of
Published 24 Feb, 2012 12:00am
Pakistani textiles and MFN with India

Pakistani textiles and MFN with India

These days there is considerable debate on the many pros and cons of granting MEN status to India. While politicking and difference in agenda's are common place in such debates, it is unfortunate that the facts behind the arguments get diluted as the deba
Published 24 Feb, 2012 12:00am
EOBI

EOBI

A one-day training session was arranged at Site Association of Industry by Employees' Old-Age Benefits Institution (EOBI) for the relevant know how to the members of Site Association regarding EOBI Website (www.eobi.gov.pk). The team of EOBI headed by Kan
Published 24 Feb, 2012 12:00am
Efforts under way to establish Pak-Iran banking channel

Efforts under way to establish Pak-Iran banking channel

Deputy Minister for Industry, Mines and Trade of Iran, Abbas Ghobadi has said that efforts were under way to establish banking channel between Pakistan and Iran. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI) and later taking to
Published 24 Feb, 2012 12:00am
Second CIMA Business Quiz held

Second CIMA Business Quiz held

The Chartered Institute of Management Accountants (CIMA) in collaboration with the Educational Advisory Services and Training (EAST) held 2nd CIMA Business Quiz - 2012 here in the city. Ninety-five teams representing 26 O' and A' level schools participate
Published 24 Feb, 2012 12:00am
SAP to arm SMEs with 'Real-Time Analytics'

SAP to arm SMEs with 'Real-Time Analytics'

SAP AG has announced two new offerings that will deliver the benefits of SAP HANA(tm) platform to small businesses and mid size enterprises in Pakistan. With analytics powered by SAP HANA for the SAP(r) Business One application and SAP HANA, Edge edition,
Published 24 Feb, 2012 12:00am
Paramedics observe complete strike

Paramedics observe complete strike

The paramedics observed a complete strike against non-acceptance of their demands and staged a big rally here on Thursday. The strike call was given by Punjab Paramedics Alliance and the paramedical staff from all wards except emergency services ceased wo
Published 24 Feb, 2012 12:00am
Payment systems infrastructure depicts upward growth trend: SBP report

Payment systems infrastructure depicts upward growth trend: SBP report

The Payment Systems infrastructure in Pakistan showed an upward growth trend during the second quarter of the current fiscal year (FY12), says the State Bank of Pakistan's Payment Systems Quarterly Review for the 2nd Quarter of FY12 released on Thursday.
Published 24 Feb, 2012 12:00am
JS Investments appoints new Chief Strategy Officer

JS Investments appoints new Chief Strategy Officer

JS Investments Limited (JSIL), one of the leading Asset Management Companies in Pakistan, has announced the appointment of Maleeha Mimi Bangash, as the Chief Strategy Officer at JS Investments. Ms Bangash brings with her around 16 years of rich and varied
Published 24 Feb, 2012 12:00am
JS Investments appoints new Chief Strategy Officer

JS Investments appoints new Chief Strategy Officer

JS Investments Limited (JSIL), one of the leading Asset Management Companies in Pakistan, has announced the appointment of Maleeha Mimi Bangash, as the Chief Strategy Officer at JS Investments. Ms Bangash brings with her around 16 years of rich and varied
Published 24 Feb, 2012 12:00am
Drug smuggler held

Drug smuggler held

District police on Thursday foiled narcotic smuggling bid and arrested a smuggler with possession of one kilogram hashish. According to police, DPO Sajjad Khan received information about possible drug smuggling attempt, upon which police carried out stric
Published 24 Feb, 2012 12:00am
Senate elections: MQM, PML-F candidates withdraw nomination papers

Senate elections: MQM, PML-F candidates withdraw nomination papers

Candidates of Muttahida Qaumi Movement (MQM) and Pakistan Muslim League-Functional (PML-F) on Thursday withdrew their nominations papers that they had filed for the upcoming Senate elections. MQM's Kanwar Navid Jamil (general), Nasreen Jalil (general), Ka
Published 24 Feb, 2012 12:00am
NPL posts Rs 848.848 million profit after tax

NPL posts Rs 848.848 million profit after tax

The profit after tax of Nishat Power Limited (NPL) stood at Rs 848.848 million in the half year period ended December 31, 2011 as compared to Rs 1,210.927 million earned in the corresponding period in 2010. The companies earning per share stood at Rs 2.39
Published 24 Feb, 2012 12:00am
NPL posts Rs 848.848 million profit after tax

NPL posts Rs 848.848 million profit after tax

The profit after tax of Nishat Power Limited (NPL) stood at Rs 848.848 million in the half year period ended December 31, 2011 as compared to Rs 1,210.927 million earned in the corresponding period in 2010. The companies earning per share stood at Rs 2.39
Published 24 Feb, 2012 12:00am
FFCEL's wind energy project to begin trial production in June

FFCEL's wind energy project to begin trial production in June

FFC Energy Limited (FFCEL), a subsidiary of Fauji Fertiliser Company Ltd, is in its final stage of completing Pakistan's first 50-megawatt wind energy project at Jhampir, District Thatta of Sindh. The project will start its trial energy production from Ju
Published 24 Feb, 2012 12:00am
No dengue case reported in Lahore

No dengue case reported in Lahore

Special Assistant to Chief Minister Punjab for Health Khawaja Salman Rafiq said that seven-year-old girl Maryam reported in a private hospital previous day was not a dengue patient. He said that on receiving information through media, he immediately reach
Published 24 Feb, 2012 12:00am
Drupa-2012 trade fair: Entrepreneurs urged to avail opportunities

Drupa-2012 trade fair: Entrepreneurs urged to avail opportunities

Legendary businessman Syed Babar Ali has urged the entrepreneurs of the printing and publishing sector to keep themselves abreast of the latest technological development taking place at world level. He was addressing as Chief Guest of the presentation cer
Published 24 Feb, 2012 12:00am
US MIDDAY: copper dips

US MIDDAY: copper dips

Copper fell for a second straight day on Thursday, pressured by tepid Chinese buying at the start of the year and expectations of recession in the euro zone and its negative demand implications for industrial metals. In New York, the March COMEX contract
Published 24 Feb, 2012 12:00am
US MIDDAY: wheat drops

US MIDDAY: wheat drops

US spring wheat futures dropped 2 percent to a near 1-month low on Thursday after the US Agriculture Department raised its forecast for plantings and an improved crop weather outlook boosted prospects for a large crop this year, traders said.
Published 24 Feb, 2012 12:00am
Gold rises to three-month high in London

Gold rises to three-month high in London

Gold rose to a three-month high on Thursday and headed for its biggest one-week rally in a month as Europe's bailout deal with Greece lifted the euro, while platinum hit a five-month peak as a damaging strike in major producer South Africa ground on. A st
Published 24 Feb, 2012 12:00am
Gold slips in Asia

Gold slips in Asia

Spot gold edged lower on Thursday, taking a breather after rising to a three-month high in the previous session, although expectations of further monetary easing after sluggish economic data from the euro zone and China continue to support prices. Spot go
Published 24 Feb, 2012 12:00am
Gold jumps in New York

Gold jumps in New York

Gold jumped to a three-month high on Wednesday, reversing early losses after bullish technical factors triggered fund buying, and platinum prices hit their highest in five months on supply worries. Platinum outperformed gold's 1 percent gain, rallying 2 p
Published 24 Feb, 2012 12:00am
Cocoa sinks four percent

Cocoa sinks four percent

Cocoa futures tumbled to close down nearly 4 percent on Thursday, after falling below their 100-day moving averages and triggering automatic sell orders as the commodity complex turned lower. ICE raw sugar futures turned lower after touching their highest
Published 24 Feb, 2012 12:00am
Wheat and corn move up

Wheat and corn move up

US wheat and corn futures rose on Wednesday, finding support after an early drop on technical buying when prices for both commodities hit 50-day moving averages, traders said. Soyabean futures also rose, pushed higher by a spate of buying late in the sess
Published 24 Feb, 2012 12:00am
Malaysian palm up

Malaysian palm up

Malaysian crude palm oil futures closed higher on Thursday although gains were limited by investor concern about slowing global growth that could curb commodity demand. Prices rallied to new highs earlier this week as the second bailout deal for Greece bo
Published 24 Feb, 2012 12:00am
Tokyo rubber futures slip

Tokyo rubber futures slip

Tokyo rubber futures slipped on Thursday due to profit-taking after recent rises, but low supply and firm oil prices still supported prices to stay near a 5-month high level, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for
Published 24 Feb, 2012 12:00am
Brent crude hits record high in euros

Brent crude hits record high in euros

Brent crude rose for a fourth day, hitting a fresh nine-month high and a record in euro terms on Thursday, creating a new headache for cash-strapped Europe on heightened tensions between Iran and the West. On a euro basis, Brent futures hit a record 93.60
Published 24 Feb, 2012 12:00am
Brent crude hits record high in euros

Brent crude hits record high in euros

Brent crude rose for a fourth day, hitting a fresh nine-month high and a record in euro terms on Thursday, creating a new headache for cash-strapped Europe on heightened tensions between Iran and the West. On a euro basis, Brent futures hit a record 93.60
Published 24 Feb, 2012 12:00am
Brent crude hits record high in euros

Brent crude hits record high in euros

Brent crude rose for a fourth day, hitting a fresh nine-month high and a record in euro terms on Thursday, creating a new headache for cash-strapped Europe on heightened tensions between Iran and the West. On a euro basis, Brent futures hit a record 93.60
Published 24 Feb, 2012 12:00am
Copper declines

Copper declines

Copper slipped on Thursday, hit by expectations of a contraction in the euro zone economy and its implications for demand for industrial metals, but losses were limited by upbeat German business sentiment numbers. European Commission interim data showed e
Published 24 Feb, 2012 12:00am
Shanghai copper slips

Shanghai copper slips

The most-traded May copper contract on the Shanghai Futures Exchange slipped 0.1 percent to 60,420 yuan ($9,600) a tonne at the close on Thursday. Countering poor data in Europe and China, US home resales rose to a 1-1/2-year high in January, pushing the
Published 24 Feb, 2012 12:00am
New York cotton sharply lower

New York cotton sharply lower

US cotton prices finished sharply lower on Wednesday, driven down by demand worries evoked by weak economic data in Europe and China that cast a shadow on global growth prospects. Once the selling got underway, stop-loss sell orders were triggered, compel
Published 24 Feb, 2012 12:00am
US interference in Balochistan condemned

US interference in Balochistan condemned

Minister of State for National Harmony, Akram Masih Gill condemned the tabling of a resolution on Balochistan in the US Congress and termed it as interference in internal affairs of Pakistan.
Published 24 Feb, 2012 12:00am
Iraq attacks kill 60

Iraq attacks kill 60

Simultaneous early morning attacks on mostly Shia targets across Iraq killed at least 60 people and wounded dozens on Thursday in one of the bloodiest days of violence since US troops pulled out in mid-December. The attacks that appeared to pitch al Qaeda
Published 24 Feb, 2012 12:00am
Obama makes bold reelection prediction

Obama makes bold reelection prediction

US President Barack Obama made no bones about his chances of reelection in an interview with America's largest Hispanic radio service, saying: "I've got another five years coming up." Quizzed by Univision's Eddie "Piolin" Sotelo about his failure to enact
Published 24 Feb, 2012 12:00am
Seven US Marines killed in helicopter collision

Seven US Marines killed in helicopter collision

Seven US Marines were killed when two helicopters collided during a night training exercise at an Arizona base, the military said Thursday. The crash occurred on Wednesday evening "along the California/Arizona border just outside of the Yuma Training Rang
Published 24 Feb, 2012 12:00am
US, North Korea hold first talks since Kim's death

US, North Korea hold first talks since Kim's death

Senior US and North Korean diplomats began talks on Pyongyang's controversial nuclear programme on Thursday, in the first substantive contact between the two nations since leader Kim Jong-Il died. Glyn Davies, co-ordinator for US policy on North Korea, an
Published 24 Feb, 2012 12:00am
Romney clawing his way back in Republican race

Romney clawing his way back in Republican race

Mitt Romney is fighting his way back into the driver's seat in the Republican presidential race, putting in a strong debate performance in Arizona and gaining in polls against conservative rival Rick Santorum. An aggressive Romney repeatedly put Santorum
Published 24 Feb, 2012 12:00am
US imposes sanctions on Indonesia militants

US imposes sanctions on Indonesia militants

The US Treasury slapped sanctions on Thursday against three men it said were members of Jema'ah Ansharut Tauhid, or JAT, an Indonesia-based militant organisation. Treasury's Office of Foreign Assets Control said the sanctions against Mochammad Achwan, Son
Published 24 Feb, 2012 12:00am
WikiLeaks suspect Manning formally charged

WikiLeaks suspect Manning formally charged

WikiLeaks suspect Bradley Manning was formally charged on Thursday ahead of a court-martial that could see the US soldier sentenced to life in prison. Manning was charged with 22 counts, the most serious of which is "aiding the enemy," for allegedly turni
Published 24 Feb, 2012 12:00am
Syrian tanks attack in Homs, world outrage grows

Syrian tanks attack in Homs, world outrage grows

Syrian tanks pushed into a rebel stronghold in the battered city of Homs on Thursday and UN investigators accused President Bashar al-Assad's government of crimes against humanity. The plight of Homs and other embattled towns will dominate "Friends of Syr
Published 24 Feb, 2012 12:00am
UN handed list of crimes against humanity suspects

UN handed list of crimes against humanity suspects

International investigators on Thursday handed the UN a list of Syrian officials suspected of crimes against humanity, as a defiant regime brushed off an outcry over the killing of two journalists. Fifty-two people were killed across the country, accordin
Published 24 Feb, 2012 12:00am
White House issues plan to protect online privacy

White House issues plan to protect online privacy

The White House on Thursday proposed a "bill of rights" that would give consumers greater online privacy protection and could eventually give the government greater powers to police Internet firms such as Google Inc and Facebook. While the privacy bill of
Published 24 Feb, 2012 12:00am
Abbas, Meshaal delay Palestinian unity talks: Fatah

Abbas, Meshaal delay Palestinian unity talks: Fatah

Palestinian president Mahmud Abbas and his rival Hamas leader Khaled Meshaal on Thursday postponed talks on forming a unified government, a Fatah official said, in a further delay to ending an almost five-year rift. The official with the Abbas-led party s
Published 24 Feb, 2012 12:00am
US threatens sanctions on Somali peace spoilers

US threatens sanctions on Somali peace spoilers

US Secretary of State Hillary Clinton on Thursday threatened sanctions on anyone blocking reforms intended to end Somalia's "hopeless, bloody conflict" and counter militant and pirate groups seen as a growing menace to world security.
Published 24 Feb, 2012 12:00am
UN committee bars Sri Lankan general linked to atrocities

UN committee bars Sri Lankan general linked to atrocities

A top UN committee on Wednesday barred a Sri Lankan general accused of carrying out a military onslaught against civilians from taking part in its work. But Major General Shavendra Silva still attended the first meeting of the advisory panel to UN leader
Published 24 Feb, 2012 12:00am
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