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Archive - 2012-04-10
Spain has stopped importing Iranian oil
Top News

Spain has stopped importing Iranian oil

MADRID: Spain stopped importing Iranian oil "at the end of February" because of the imposition of a gradual European Uni
Published 10 Apr, 2012 07:14pm
Garuda close to $2.5bn Airbus A330 deal
Top News

Garuda close to $2.5bn Airbus A330 deal

JAKARTA/PARIS: Garuda and European planemaker Airbus are close to a deal for the Indonesian airline to buy A330 passenge
Published 10 Apr, 2012 05:20pm
ISE-10 gains 18 points
Markets

ISE-10 gains 18 points

ISLAMABAD: Islamabad Stock Exchange (ISE-10) here on Tuesday witnessed bullish trend as the index was up by 18.13 points
Published 10 Apr, 2012 03:08pm
Six victims laid to rest in Quetta
Top News

Six victims laid to rest in Quetta

QUETTA: Six people who had been killed in Prince Road firing last night were laid to rest on Tuesday in Provincial capit
Published 10 Apr, 2012 03:06pm
Benazir Bhutto murder case adjourned
Top News

Benazir Bhutto murder case adjourned

RAWALPINDI: Anti-Terrorist Court (ATC) No-1 Rawalipndi judge Shahid Rifque on Tuesday adjourned the hearing of the murde
Published 10 Apr, 2012 02:19pm
RECORDER REPORT: KSE close of day
Top News

RECORDER REPORT: KSE close of day

KARACHI : Positive trend was witnessed at the Karachi stock exchange (KSE) market on Tuesday on the back of investo
Published 10 Apr, 2012 12:44pm
15 killed in two Afghan suicide attacks
Top News

15 killed in two Afghan suicide attacks

HEART: At least 15 people were killed and 33 wounded in two suicide attacks targeting police and government offices in A
Published 10 Apr, 2012 12:01pm
RECORDER REPORT: KSE mid day update
Top News

RECORDER REPORT: KSE mid day update

KARACHI : On Tuesday until 12:30 P.M. , KSE-100 Index remained positive and was at 13,935.70 with a positive change o
Published 10 Apr, 2012 08:34am
China returns to trade surplus in March
Top News

China returns to trade surplus in March

BEIJING: China said on Tuesday it recorded a trade surplus last month, reversing a massive deficit in February, but expo
Published 10 Apr, 2012 04:47am
Cameron eyes Britain, Japan defence trade
Top News

Cameron eyes Britain, Japan defence trade

TOKYO: British Prime Minister David Cameron was due to arrive in Tokyo on Tuesday hoping to prise open Japan's potential
Published 10 Apr, 2012 04:44am
Global IT Report 2012
BR Research

Global IT Report 2012

Since 2002, the Global Information Technology Report is being published annually by the World Economic Forum in partnership with INSEAD. The
Published 10 Apr, 2012 12:00am
Gunmen kill six in sectarian attack

Gunmen kill six in sectarian attack

Gunmen on a motorcycle opened fire on Shias here on Monday, killing six in an apparent sectarian attack, police said. Three others were wounded in the attack on a shoe store in Quetta, said police officer Hamid Shakil. "Two gunmen riding a motorbike opene
Published 10 Apr, 2012 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

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

Published 10 Apr, 2012 12:00am
Gunmen kill six in sectarian attack

Gunmen kill six in sectarian attack

Gunmen on a motorcycle opened fire on Shias here on Monday, killing six in an apparent sectarian attack, police said. Three others were wounded in the attack on a shoe store in Quetta, said police officer Hamid Shakil. "Two gunmen riding a motorbike opene
Published 10 Apr, 2012 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Monday (April 09, 2012).

Published 10 Apr, 2012 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Monday (April 09, 2012).

Published 10 Apr, 2012 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Monday (April 09, 2012).

Published 10 Apr, 2012 12:00am
Other factors that hurt macro stability

Other factors that hurt macro stability

It is indeed reassuring that the "government will keep following the path of fiscal discipline," says a press release of the Ministry of Finance at the conclusion of an Economic Advisory Council meeting on Saturday. The EAC convenor, Dr Hafeez Pasha, said
Published 10 Apr, 2012 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Monday (April 09, 2012).

Published 10 Apr, 2012 12:00am
Zardari's India visit

Zardari's India visit

To begin with it was to be President Zardari's private visit to the Indian city of Ajmer to pay homage to Khwaja Moinuddin Chishti. He was to be there along with his three children and personal staff, and return home the same day. Then he received an invi
Published 10 Apr, 2012 12:00am
Clever-by-half strategies

Clever-by-half strategies

In the anti-money laundering terminology, the process whereby black wealth flies out of a country and then returns to it as remittance, portfolio investment, export proceeds, etc, is called "round tripping". In all ill-governed states, this process goes o
Published 10 Apr, 2012 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Monday (April 09, 2012).

Published 10 Apr, 2012 12:00am
Vietnam bear sanctuary struggles to fight off developers

Vietnam bear sanctuary struggles to fight off developers

Safe behind a 3-metre electric fence, a moon bear swings suspended on a rubber tyre, limbs stretched out to the four points of the compass. Its mien, bulk and glossy coat all suggest a healthy, happy existence. But the bear has not always had it easy. A c
Published 10 Apr, 2012 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Monday (April 09, 2012).

Published 10 Apr, 2012 12:00am
Appeal to maulanas

Appeal to maulanas

Karachi is the largest city of the Muslim world with population estimates of over 20 million. Inhabitants from all over including the provinces now form part of Karachi. Karachi is therefore called a mini-Pakistan. The city therefore needs not only the sp
Published 10 Apr, 2012 12:00am
Standard Chartered Bank (Pakistan) Limited

Standard Chartered Bank (Pakistan) Limited

With a total asset base of around Rs 356 billion as on 31st December, 2011, Standard Chartered Bank (Pakistan) Limited (SCBPL) is the third largest mid-sized bank (by the asset size) after Bank Alfalah and Bank Al-Habib Limited, in Pakistan.
Published 10 Apr, 2012 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (April 09, 2012).

Published 10 Apr, 2012 12:00am
Standard Chartered Bank (Pakistan) Limited

Standard Chartered Bank (Pakistan) Limited

With a total asset base of around Rs 356 billion as on 31st December, 2011, Standard Chartered Bank (Pakistan) Limited (SCBPL) is the third largest mid-sized bank (by the asset size) after Bank Alfalah and Bank Al-Habib Limited, in Pakistan.
Published 10 Apr, 2012 12:00am
Nishat Linen's flagship store to be opened in The Centaurus Mall

Nishat Linen's flagship store to be opened in The Centaurus Mall

Nishat Linen, a leading name in home fashion and apparel retail chain, ventured into an agreement with PakGulf Construction Pvt Ltd developers of The Centaurus in Islamabad for the grand opening of Nishat Linen's flagship store in The Centaurus Mall, says
Published 10 Apr, 2012 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

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

Published 10 Apr, 2012 12:00am
Paper put off

Paper put off

Board of Secondary Education Karachi on Monday announced postponement of Tuesday's English paper in matriculation exams following a call of strike by transporters, Aaj News reported. According to the channel, the postponed exam would now be held on
Published 10 Apr, 2012 12:00am
Tobacco crop price nearly doubled over last five years

Tobacco crop price nearly doubled over last five years

The price of tobacco crop in the country has nearly doubled over the last five years, encouraging even more farmers in Khyber Pakhtunkhwa to expand the crop cultivation, agriculture experts and analysts said on Monday.
Published 10 Apr, 2012 12:00am
Eight suspects held

Eight suspects held

Law enforcement agencies (LEAs) on Monday claimed to have arrested eight suspects and demolished two gambling dens during search operations at various parts of Lyari. According to sources, paramilitary Rangers have conducted raids at different parts of Ly
Published 10 Apr, 2012 12:00am
Institute of Capital Markets declares results

Institute of Capital Markets declares results

The Institute of Capital Markets (ICM) has announced the results of ICM Stock Brokers Certification Examination and ICM Mutual Fund Distributors Certification Examination held on February 26. The ICM, Pakistan's first securities market institute, has been
Published 10 Apr, 2012 12:00am
Institute of Capital Markets declares results

Institute of Capital Markets declares results

The Institute of Capital Markets (ICM) has announced the results of ICM Stock Brokers Certification Examination and ICM Mutual Fund Distributors Certification Examination held on February 26. The ICM, Pakistan's first securities market institute, has been
Published 10 Apr, 2012 12:00am
Cotton Spot Rates

Cotton Spot Rates

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

Published 10 Apr, 2012 12:00am
Agriculture NPLs surge by 11 percent in calendar year 2011

Agriculture NPLs surge by 11 percent in calendar year 2011

Non-Performing Loans (NPLs) of agricultural financing has posted a surge of 11 percent to Rs 32 billion as on December 31, 2011, reportedly, due to post flood effects and high cost of production. Sources in banking sector told Business Recorder on
Published 10 Apr, 2012 12:00am
Bullion Rates

Bullion Rates

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

Published 10 Apr, 2012 12:00am
Agriculture NPLs surge by 11 percent in calendar year 2011

Agriculture NPLs surge by 11 percent in calendar year 2011

Non-Performing Loans (NPLs) of agricultural financing has posted a surge of 11 percent to Rs 32 billion as on December 31, 2011, reportedly, due to post flood effects and high cost of production. Sources in banking sector told Business Recorder on
Published 10 Apr, 2012 12:00am
Bullion Rates

Bullion Rates

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

Published 10 Apr, 2012 12:00am
Clarification

Clarification

With reference to a news story published in Business Recorder on April 5, new refinery having a capacity of 120,000 barrel per day is owned by Byco Oil Pakistan Limited. Byco Petroleum Pakistan owns old refinery of 36,000 barrel capacity.
Published 10 Apr, 2012 12:00am
The Weather

The Weather

The weather report on Monday (April 09, 2012) and the forecast for Tuesday (April 10, 2012).

Published 10 Apr, 2012 12:00am
SECP proposes reduced tax rate on import of gold

SECP proposes reduced tax rate on import of gold

To promote documentation of trading of gold, the Securities and Exchange Commission of Pakistan (SECP) has strongly proposed reduced tax rate on import of gold @ of 0.1 percent of the import value in cases where the gold is imported by a corporate member
Published 10 Apr, 2012 12:00am
Seminar on 'Mutual Funds and Voluntary Pension Schemes' held

Seminar on 'Mutual Funds and Voluntary Pension Schemes' held

In order to facilitate members understanding of options for personal tax benefits and retirement funds investment avenues, The Overseas Investors Chamber of Commerce and Industry (OICCI), in collaboration with the Mutual Funds Association of Pakistan (MUF
Published 10 Apr, 2012 12:00am
Seminar on 'Mutual Funds and Voluntary Pension Schemes' held

Seminar on 'Mutual Funds and Voluntary Pension Schemes' held

In order to facilitate members understanding of options for personal tax benefits and retirement funds investment avenues, The Overseas Investors Chamber of Commerce and Industry (OICCI), in collaboration with the Mutual Funds Association of Pakistan (MUF
Published 10 Apr, 2012 12:00am
Budget 2012-13: FED exemption on livestock insurance proposed

Budget 2012-13: FED exemption on livestock insurance proposed

The Securities and Exchange Commission of Pakistan (SECP) has proposed exemption of Federal Excise Duty (FED) on livestock insurance along with crop insurance in the upcoming budget (2012-13). It is learnt here on Monday that the SECP has submitted its bu
Published 10 Apr, 2012 12:00am
Budget 2012-13: FED exemption on livestock insurance proposed

Budget 2012-13: FED exemption on livestock insurance proposed

The Securities and Exchange Commission of Pakistan (SECP) has proposed exemption of Federal Excise Duty (FED) on livestock insurance along with crop insurance in the upcoming budget (2012-13). It is learnt here on Monday that the SECP has submitted its bu
Published 10 Apr, 2012 12:00am
NCCPL for 100 percent input tax adjustment to listed companies

NCCPL for 100 percent input tax adjustment to listed companies

The Securities and Exchange Commission of Pakistan (SECP) has proposed the Federal Board of Revenue (FBR) to exempt the listed companies from procedure for adjustment of input tax against the output tax and allow 100 percent of adjustment/refund of input
Published 10 Apr, 2012 12:00am
Police asked to lodge FIR against Nabeel, SSP

Police asked to lodge FIR against Nabeel, SSP

An additional session judge on Monday ordered police to lodge an FIR against Chaudhry Aslam, SSP CID, and Pakistan People's Party (PPP) lawmaker Nabeel Gabol for their alleged involvement in the extra judicial murder of a youth in Lyari that sparked viole
Published 10 Apr, 2012 12:00am
SECP for providing level playing field to NBFCs

SECP for providing level playing field to NBFCs

The Securities and Exchange Commission of Pakistan (SECP) has proposed the Federal Board of Revenue (FBR) to introduce a new section in the Income Tax Ordinance 2001 to provide level playing field to the Non-Banking Finance Companies (NBFCs) vis-à-vis com
Published 10 Apr, 2012 12:00am
Action ordered against Rawalpindi ATC judge

Action ordered against Rawalpindi ATC judge

The registrar of the Lahore High Court (LHC) was learnt to have ordered disciplinary action against judge of Anti Terrorist Court, Rawalpindi, Zafar Iqbal for marking himself 'present' without attending duty every Saturday. A private television channel re
Published 10 Apr, 2012 12:00am
'Pakistan ranks fifth among 22 highly Tuberculosis-affected countries'

'Pakistan ranks fifth among 22 highly Tuberculosis-affected countries'

Chest specialists Association office bearers said that Tuberculosis (TB) among infectious diseases is the second most common cause of death in the world. It takes almost 2 million lives every year. Delivering their speeches at a seminar on prevention of T
Published 10 Apr, 2012 12:00am
Imran rebuffs US bounty on Hafiz Saeed

Imran rebuffs US bounty on Hafiz Saeed

Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan on Monday criticised the US for announcing a bounty of $10 million for the arrest of Hafiz Mohammad Saeed, the chief of the defunct Jamaatud Dawa, saying nobody could be arrested unless he was proven guilty
Published 10 Apr, 2012 12:00am
PML-Q calls for national energy policy

PML-Q calls for national energy policy

Pakistan Muslim League-Q has termed energy crisis as national issue and called for formulating national energy policy to overcome it through pragmatic approach in the larger national interest. PML-Q Secretary General Senator Mushahid Hussain Syed presente
Published 10 Apr, 2012 12:00am
China expresses sympathies with avalanche victims

China expresses sympathies with avalanche victims

China on Monday expressed sympathies and condolences with the victims of the avalanche that hit the Gayari region in Pakistan on Saturday and their bereaved families. "We express our condolences to the Pakistani victims in avalanche and express sympathies
Published 10 Apr, 2012 12:00am
Prayers for safe recovery of Siachen victims offered

Prayers for safe recovery of Siachen victims offered

People from different walks of life on Monday offered prayers for 124 soldiers and 11 civilians trapped in Siachen after an avalanche smashed the Pakistan Army camp. Imtiaz Inayat Elahi Secretary Capital Administration and Development Division (CAAD), Zam
Published 10 Apr, 2012 12:00am
Siachen avalanche: Zardari calls for quick rescue

Siachen avalanche: Zardari calls for quick rescue

President Asif Ali Zardari on Monday directed the authorities concerned to utilise all available resources to quickly rescue the soldiers and civilians who got trapped under an avalanche which hit the Siachen area on Saturday. He is learnt to have contact
Published 10 Apr, 2012 12:00am
Swiss, German rescue teams arrive: efforts being beefed up: ISPR

Swiss, German rescue teams arrive: efforts being beefed up: ISPR

Efforts are further being beefed up by employing around 286 soldiers including 60 civilians along with dozers and JCB (used for digging) at the incident site for rescue operation. According to ISPR, they have so far cleared one platform measuring a 40 fee
Published 10 Apr, 2012 12:00am
Siachen dispute: lawmakers call for urgent resolution

Siachen dispute: lawmakers call for urgent resolution

Parliamentarians on Monday expressed sorrow and discussed in the joint sitting of parliament the human tragedy which befell 124 soldiers and 11 civilians who were buried alive under a massive avalanche near the Siachen Glacier. They also prayed for the su
Published 10 Apr, 2012 12:00am
Six dead in checkpost raid: officials

Six dead in checkpost raid: officials

Around 20 militants attacked a military checkpost in Kurram Agency, sparking a clash that left two soldiers and four militants dead, an official said Monday. The attack in part of the tribal badlands near the Afghan border was beaten off when troops respo
Published 10 Apr, 2012 12:00am
PSQCA's deputy director burnt alive

PSQCA's deputy director burnt alive

A senior official of the Pakistan Standard Quality Control Authority (PSQCA) was burnt alive at his residence in Gulistan Jauhar police remits on Monday. Police officials said that the man was burnt after some attackers hurled a combustible substance upon
Published 10 Apr, 2012 12:00am
Four deaths reported in Karachi accidents

Four deaths reported in Karachi accidents

At least four people were reported killed from various localities of the Sindh metropolis here on Monday. Police and rescue workers said that a rickshaw driver Mehmood Islam was killed while two others, including 30-year-old Rubina and her five-year-old d
Published 10 Apr, 2012 12:00am
Some 3,000 Sikh Yatrees arriving today

Some 3,000 Sikh Yatrees arriving today

Some 3,000 Sikh Yatrees (pilgrims) from India will arrive in provincial metropolis through Wagha border on Tuesday to participate in the celebration of the annual Besakhi Festival. The sources in Pakistan Railway said three special trains from India each
Published 10 Apr, 2012 12:00am
MCCI seeks withdrawal of SRO 191(I) 2012

MCCI seeks withdrawal of SRO 191(I) 2012

The Multan Chamber of Commerce and Industry (MCCI) has demanded withdrawal of SRO 191(I)2012 and said merely deferment of this SRO till next budget would be a joke with trade community. The MCCI suggested that the finance minister give patient hearing to
Published 10 Apr, 2012 12:00am
MCCI seeks withdrawal of SRO 191(I) 2012

MCCI seeks withdrawal of SRO 191(I) 2012

The Multan Chamber of Commerce and Industry (MCCI) has demanded withdrawal of SRO 191(I)2012 and said merely deferment of this SRO till next budget would be a joke with trade community. The MCCI suggested that the finance minister give patient hearing to
Published 10 Apr, 2012 12:00am
Budget proposals 2012-13: government must focus on urban economy: KCCI

Budget proposals 2012-13: government must focus on urban economy: KCCI

The government should shift its focus from rural to urban economy and take necessary measures to provide stimulus to industry and trade, this was suggested by the Karachi Chamber of Commerce and Industry (KCCI) in its proposals for 2012-13 budget.
Published 10 Apr, 2012 12:00am
Budget proposals 2012-13: government must focus on urban economy: KCCI

Budget proposals 2012-13: government must focus on urban economy: KCCI

The government should shift its focus from rural to urban economy and take necessary measures to provide stimulus to industry and trade, this was suggested by the Karachi Chamber of Commerce and Industry (KCCI) in its proposals for 2012-13 budget.
Published 10 Apr, 2012 12:00am
'Monarchy major reason behind downfall of Muslims'

'Monarchy major reason behind downfall of Muslims'

Former Justice Dr Javed Iqbal has said that monarchy was one of the major reasons behind the downfall of the Muslims. He also said that the real reason behind the division of subcontinent was the biased attitude of Hindus towards Muslims as well as Hindus
Published 10 Apr, 2012 12:00am
Professors Sibtul Hasnian, Javed Akram honoured

Professors Sibtul Hasnian, Javed Akram honoured

Government of Pakistan has honoured Professor Syed Sibtul Hasnian, President Pakistan Medical and Dental Council (PMDC) and Professor Javed Akram, Principal Allama Iqbal Medical College/ Jinnah Hospital Lahore, for their services in the field of medical e
Published 10 Apr, 2012 12:00am
People's needs must be analysed for making budget: Ishrat

People's needs must be analysed for making budget: Ishrat

Dr Ishrat Hussein, Former Governor State Bank of Pakistan has urged the government to analyse the needs of the people and then make next fiscal year budget according to their needs to achieve the real time and long-term economic growth. This he said while
Published 10 Apr, 2012 12:00am
No red warrant issued against Musharraf

No red warrant issued against Musharraf

The Interpol has not yet issued red warrant against former president Pervez Musharraf in the murder case of former prime minister Benazir Bhutto. "The Federal Investigation Agency has sent a request along with a perpetual arrest warrant issued by Anti Ter
Published 10 Apr, 2012 12:00am
Participants of meeting irked by absence of air-conditioning

Participants of meeting irked by absence of air-conditioning

There was panic in the Prime Minister's Secretariat on April 6, 2012 when Finance Minister, Dr Abdul Hafeez Shaikh reportedly expressed his displeasure over the absence of air-conditioning in the Cabinet room where he was scheduled to chair a meeting of t
Published 10 Apr, 2012 12:00am
Farmers planting corn at pace amid threatening weather

Farmers planting corn at pace amid threatening weather

Farmers have been planting corn at the fastest pace ever in the US Midwestern grain belt this spring, raising the danger that some of the crop could be damaged if forecasts for cold weather in parts of the region this week come to pass. Also in play will
Published 10 Apr, 2012 12:00am
Algeria sees 5.5 million tonnes of grain harvest

Algeria sees 5.5 million tonnes of grain harvest

Algeria expects its grain harvest to reach 5.5 million tonnes this season due to better weather conditions, the official APS news agency quoted an agriculture ministry official as saying, a 31 percent rise on the previous campaign. The head of the statist
Published 10 Apr, 2012 12:00am
Jordan buys 50,000 tonnes of wheat

Jordan buys 50,000 tonnes of wheat

Jordan's state grain buyer has purchased 50,000 tonnes of wheat in a tender for 100,000 tonnes, which closed on Wednesday, European traders said. The price was said to be $295 a tonne c&f and the wheat was likely to be of Black Sea origin, although the se
Published 10 Apr, 2012 12:00am
Croatian farming gears up for EU entry

Croatian farming gears up for EU entry

Croatia has lost half its farmland in 20 years of independence and is heavily reliant on food imports, but next year's European Union entry will jolt the farm sector out of years of complacency, the farming minister said on Wednesday. "In 2011, our agricu
Published 10 Apr, 2012 12:00am
Egyptian firm seeks wheat for May

Egyptian firm seeks wheat for May

The Egyptian state's main wheat-buying agency, the General Authority for Supply Commodities (GASC), on Wednesday set a tender to buy an unspecified amount of wheat from global suppliers for May 21-31 shipment. Nomani, vice chairman of GASC, one of the wor
Published 10 Apr, 2012 12:00am
Morocco buys 74,500 tonnes of barley

Morocco buys 74,500 tonnes of barley

Morocco's state-run cereals authority ONICL on Monday said it has bought 74,500 tonnes of barley as authorities seek to cushion the impact of drought on livestock breeders. ONICL said it paid between 3,200 dirhams ($380) and 4,050 dirhams per tonne for th
Published 10 Apr, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port has handled 286,551 tonnes of cargo including 188,150 tonnes of import; 98,401 tonnes of export cargo and 5,298 loaded and empty containers (TEUs) during the last 48 hours of business activities ended at 0700 hours on Monday. The total im
Published 10 Apr, 2012 12:00am
Russian wheat prices fall on state sales

Russian wheat prices fall on state sales

Russian wheat prices declined further last week on sales from Russian state interventions and competition from neighbouring Kazakhstan, analysts said on Monday. "Interventions, which started very swiftly, led to some cooling down of market prices in the E
Published 10 Apr, 2012 12:00am
Maintenance of roads: NHA to spend Rs 17 billion

Maintenance of roads: NHA to spend Rs 17 billion

National Highway Authority's Member Operation Mujeeb Qadri has said that NHA will spend Rs 17 billion on maintenance of roads in year 2012-13 throughout Pakistan. He was addressing the NHA Stakeholders Conference held here on Monday to discuss the NHA ann
Published 10 Apr, 2012 12:00am
Separate electoral rolls: ECP underscores need for speeding up work

Separate electoral rolls: ECP underscores need for speeding up work

Election Commission of Pakistan (ECP) emphasised speeding up of work over updation/ preparation of separate electoral rolls and expressed satisfaction over the work for the forthcoming bye-elections in constituencies No PP-243 D.G. Khan-IV and PP-245 DGK-
Published 10 Apr, 2012 12:00am
Fiscal deficit data: a cause for serious concern

Fiscal deficit data: a cause for serious concern

Estimates of fiscal deficit for the current fiscal year continue to be a cause of serious concern to the economic managers of the country, it was learnt. The fiscal deficit budgeted 4 percent of the GDP in 2011-12 was revised upward to 4.7 percent. The Da
Published 10 Apr, 2012 12:00am
Wheel-jam strike against hike in fuel prices today

Wheel-jam strike against hike in fuel prices today

Transporters affiliated with different unions and associations have stick to their plan to observe complete wheel-jam strike on Tuesday across the country against the hike in rates of CNG and petroleum products.
Published 10 Apr, 2012 12:00am
Khyber Pakhtunkhwa oil tankers go on indefinite strike

Khyber Pakhtunkhwa oil tankers go on indefinite strike

In the wake of the failure of negotiations with Oil and Gas Regulatory Authority (Ogra), All Pakistan Oil Tankers Owners Association, Khyber Pakhtunkhwa has suspended oil supply to all Khyber Pakhtunkhwa and Gilgit-Baltistan for indefinite period.
Published 10 Apr, 2012 12:00am
ISO, Ahle Sunnat activists blame each other for GB unrest

ISO, Ahle Sunnat activists blame each other for GB unrest

The activities of Tanzeem-e-Ahle Sunnat-Wal-Jamaat of Gilgit Baltistan and Imamia Students Organisation (ISO) on Monday chanted slogan and blamed each other for the recent unrest in Gilgit Baltistan. Tanzeem-e-Ahle Sunnat-Wal-Jammat staged protest at Jinn
Published 10 Apr, 2012 12:00am
US CG opens photo exhibition

US CG opens photo exhibition

A week-long photo exhibition of historic sites of Khyber Pakhtunkhwa preserved under the "United States Ambassador Fund for culture preservation" formally began on Monday.
Published 10 Apr, 2012 12:00am
Punjab University organises jobs fair

Punjab University organises jobs fair

Punjab University College of Information Technology, under the leadership of its Principal Professor Dr Mansoor Sarwar, has organised a successful job fair at its campus to provide employment opportunities to intelligent IT students. Over 500 students par
Published 10 Apr, 2012 12:00am
HCCI team visits Sri Lankan exhibition 2012

HCCI team visits Sri Lankan exhibition 2012

The Delegation of Hyderabad Chamber of Commerce and Industry (HCCI) visited different stalls set up in Sri Lankan exhibition, 2012 in Colombo. The delegation headed by president of HCCI Gohar Ullah consisted of former president Shafique Ahmed Qureshi, for
Published 10 Apr, 2012 12:00am
Two bodies recovered

Two bodies recovered

Levies Force found two more bullet-riddled bodies from Surab area of the district on Monday. According to Levies official, acting on a tipoff, Levies Force reached the site and took two mutilated bodies into custody which were dumped in desert area. The b
Published 10 Apr, 2012 12:00am
TI Pakistan involves US Department of Justice

TI Pakistan involves US Department of Justice

Transparency International Pakistan has involved US Department of Justice by forwarding the conviction awarded to Walters Power International by Supreme Court of Pakistan in the Rental Power Plants (RPP) case for taking action against the US firms under t
Published 10 Apr, 2012 12:00am
KESC, ABAD sign MoU

KESC, ABAD sign MoU

Karachi Electric Supply Company (KESC) has, in line with its vision to use maximum daylight and avoid undue lights, on Monday signed a Memorandum of Understanding (MoU) with the Association of Builders and Developers (ABAD) over taking joint steps towards
Published 10 Apr, 2012 12:00am
388 centres to begin wheat procurement from today

388 centres to begin wheat procurement from today

Sindh Food department's 388 centres would start wheat procurement from April 10 to meet 1.3 MMT target of wheat procurement crop-2012, while the support price by provincial government was fixed as Rs 1,050 per 40 kgs, Business Recorder has learnt h
Published 10 Apr, 2012 12:00am
Alleged target killer held

Alleged target killer held

Sindh police on Monday claimed to have arrested an alleged target killer from Bilal colony and recovered weapons and a snatched bike from him. According to police sources, Sir Syed police on an information raided the slum area of Bilal Colony and arrested
Published 10 Apr, 2012 12:00am
Two shot dead in Mand

Two shot dead in Mand

Unknown armed men shot dead two people in Mand Balo area of Balochistan on Monday. Police official said that victims were near a local bus stop when armed assailants riding a motorbike opened fire on them and fled from the scene. They sustained several bu
Published 10 Apr, 2012 12:00am
Two more PPP activists gunned down in separate incidents

Two more PPP activists gunned down in separate incidents

The spate of target killings that claimed some 80 lives so far during last 12 days remained unabated in the city on Monday as two more political workers were gunned down in separate incidents. According to police and rescue sources, an activist of Pakista
Published 10 Apr, 2012 12:00am
STEVTA forms 120 bodies to train unemployed youth

STEVTA forms 120 bodies to train unemployed youth

Sindh Technical Education Vocational Training Authority (STEVTA) has constituted 120 committees to give proper training to the unemployed youths of Sindh. This was stated by the Managing Director of STEVTA Abdul Wahid Aqeeli in a seminar held here.
Published 10 Apr, 2012 12:00am
PBBF, PBIT sign MoU

PBBF, PBIT sign MoU

Pakistan-Belgium Business Forum (PBBF) and Punjab Board of Investment and Trade (PBIT) signed a Memorandum of Understanding (MoU) on Sunday. Dr Sajid Yoosufani, CEO, PBIT and Sameer Hamid Dodhy, President, PBBF signed the MoU on behalf of their respective
Published 10 Apr, 2012 12:00am
US MIDDAY: gold soars one percent

US MIDDAY: gold soars one percent

Gold rose about 1 percent in thin trade on Monday, breaking ranks with other commodities and equities, after disappointing US jobs data last week revived speculation that the Federal Reserve might try to stimulate the US economy. The precious metal, which
Published 10 Apr, 2012 12:00am
US MIDDAY: copper sinks

US MIDDAY: copper sinks

Copper futures in New York sank 2 percent in heavy dealings on Monday, falling under the weight of weaker US employment data and rising inflation in China, both of which pointed to softer economic activity in the world's two largest economies. The selling
Published 10 Apr, 2012 12:00am
US MIDDAY: corn falls

US MIDDAY: corn falls

US corn fell 1 percent on Monday, posting its biggest drop in five trading days, and soya slipped 0.5 percent as traders liquidated long holdings amid worries of possible bearish surprises in the USDA grain report on Tuesday. "It's choppy before tomorrow'
Published 10 Apr, 2012 12:00am
Gold rises in Europe

Gold rises in Europe

Gold prices rose more than 1 percent on Monday, recovering from last week's hefty drop after disappointing US jobs data revived hopes for fresh monetary easing and a spike in Chinese inflation boosted appetite for the metal. Market watchers said a report
Published 10 Apr, 2012 12:00am
Gold gains in Asia

Gold gains in Asia

Gold gained more than half a percent on Monday after disappointing US jobs data revived hopes for further monetary easing, while appetite for the metal was also boosted as China inflation spiked. Bullion's appeal as a hedge against inflation was burnished
Published 10 Apr, 2012 12:00am
Cocoa moves higher

Cocoa moves higher

Cocoa futures closed firm on Monday, lifted late by speculative buying, but raw sugar gave up early gains to end lower along with arabica coffee in a quiet start to business in the softs complex after a holiday break. Trading was slow, with London markets
Published 10 Apr, 2012 12:00am
Malaysian palm oil eases

Malaysian palm oil eases

Malaysian palm oil futures eased on Monday, as market players booked profits from a 13-month high hit earlier in the day, with losses capped by expectations of lower stocks due to a shift in demand to palm oil from soyoil, where supply is tightening. Indu
Published 10 Apr, 2012 12:00am
India not to allow extra cotton exports for now

India not to allow extra cotton exports for now

India will not allow additional cotton exports as of now though it could permit shipments already registered with the government after revalidating, trade and textile minister Anand Sharma said on Monday. "Until further orders, there will not be any fresh
Published 10 Apr, 2012 12:00am
Tokyo rubber futures inch down

Tokyo rubber futures inch down

TOCOM rubber futures recouped early losses and ended down 0.3 percent on Monday aided by gains in the Shanghai market, but sentiment remained weak after disappointing US jobs data and ahead of a three-day holiday in Thailand. "The key contract found suppo
Published 10 Apr, 2012 12:00am
New York cotton settles higher

New York cotton settles higher

Cotton futures settled higher on Monday on speculative buying and switch business as players stepped up their transfer of positions out of the spot contract before it goes into delivery later this month, dealers said. The US cotton market was shut on Frid
Published 10 Apr, 2012 12:00am
Oil falls on Iran talks, weak US jobs data

Oil falls on Iran talks, weak US jobs data

Oil prices fell in light volume on Monday as revived talks on Iran's nuclear program eased fears of supply disruption, while slowing US jobs growth sparked concern about demand for fuel. Negotiations between Iran and world powers over Tehran's disputed nu
Published 10 Apr, 2012 12:00am
Shanghai copper down

Shanghai copper down

Shanghai copper slipped on Monday, under pressure from a rising rate of inflation in China, but losses were limited on hopes that the world's biggest user top will go ahead with further monetary policy easing. Data showed China's annual consumer inflation
Published 10 Apr, 2012 12:00am
China top refineries cut April crude runs to 35-month low

China top refineries cut April crude runs to 35-month low

Chinese oil firms will trim crude oil throughput at major refineries to a 35-month low in April after a large cut in March, a Reuters poll showed, as maintenance remains heavy amid ongoing refining losses despite a fuel price hike last month. The developm
Published 10 Apr, 2012 12:00am
Saudi shares dip after king slams 'violations'; Egypt's bourse falls

Saudi shares dip after king slams 'violations'; Egypt's bourse falls

Saudi shares retreated on Monday after a call by the king for a crackdown against market manipulation spooked investors, and Egypt's bourse fell to eight-week lows over top-level differences about the terms of an IMF loan. King Abdullah has ordered the cr
Published 10 Apr, 2012 12:00am
Southeast Asian markets down

Southeast Asian markets down

Most Southeast Asian markets fell on Monday as concerns over a sharp slowdown in US jobs growth reduced investor appetite for risky assets in the region with Singapore falling to a one-month low in light trading volume. Singapore fell 0.9 percent to hit i
Published 10 Apr, 2012 12:00am
Seoul shares dip nearly 1.6 percent

Seoul shares dip nearly 1.6 percent

South Korean shares fell nearly 1.6 percent on Monday to a one-month closing low after disappointing US jobs figures put investors even further on the defensive ahead of a slew of economic data from China and US corporate earnings. "The market is still la
Published 10 Apr, 2012 12:00am
Nikkei average falls for fifth day

Nikkei average falls for fifth day

Japan's Nikkei average fell 1.5 percent to post its fifth straight day of losses on Monday, with a weak US jobs report raising fresh concerns over recovery in the world's largest economy and as a stronger yen weighed on exporters. The Nikkei has dropped 5
Published 10 Apr, 2012 12:00am
Indian shares fall

Indian shares fall

India's indexes posted their biggest daily falls in two weeks on Monday as banks were hit by fears about slowing deposit growth, while capital good stocks like Larsen & Toubro fell on fears industrial output data due this week would weaken. Traders, retur
Published 10 Apr, 2012 12:00am
China shares fall

China shares fall

China stocks fell 0.9 percent on Monday, led by property firms, after data showed the inflation rate rose more than expected last month, prompting speculation that Beijing may delay further easing of monetary policy. "There are mixed views on the data. My
Published 10 Apr, 2012 12:00am
Turkish assets weaken slightly

Turkish assets weaken slightly

The Turkish lira and bonds weakened slightly on Monday as local banks sold debt to avoid higher funding costs, while tight liquidity meant primary dealers had to borrow using the central bank's repo facility, which comes with a higher interest rate. Istan
Published 10 Apr, 2012 12:00am
Taiwan stocks shed 1.37 percent

Taiwan stocks shed 1.37 percent

Taiwan stocks shed 1.37 percent to its lowest level in nine weeks on Monday, tracking falls in regional bourses, with smartphone maker HTC plunging 7 percent after posting a 70 percent drop in quarterly net profit. The main TAIEX index slumped 105.39 poin
Published 10 Apr, 2012 12:00am
Monday's afternoon trade: Wall Street slips

Monday's afternoon trade: Wall Street slips

US stocks fell on Monday but pulled off their lows by mid-session, suggesting the market is shrugging off the weaker-than-expected jobs data that pushed major indexes down more than 1 percent earlier. The S&P 500 slid to its lowest point in more than thre
Published 10 Apr, 2012 12:00am
Strong golds cushion TSX fall

Strong golds cushion TSX fall

Toronto's main stock index slipped on Monday for the fourth straight session following much weaker-than-expected US non-farm payroll data on Friday, an equity market holiday, though rallying gold miners limited the losses. Financials were among the heavie
Published 10 Apr, 2012 12:00am
Russian stocks lower

Russian stocks lower

The Russian rouble weakened in thin trade and shares fell on Monday, anticipating a decline in oil prices after weaker than expected economic data from the US and China, and shrugging off the central bank's decision to keep interest rates unchanged. Russi
Published 10 Apr, 2012 12:00am
Iran not interested in nuclear fuel swap: atomic chief

Iran not interested in nuclear fuel swap: atomic chief

Iran has no interest in reviving a failed nuclear fuel swap deal with Western powers, but might scale back production of higher-grade enriched uranium once it has the material it needs, the head of the country's atomic energy organisation said. US officia
Published 10 Apr, 2012 12:00am
Syria truce prospects fade as fighting rages

Syria truce prospects fade as fighting rages

A military bombardment of a town in central Syria killed 30 people on Monday on the eve of a scheduled army withdrawal from urban areas, opposition activists said, dashing the prospects of a UN-brokered cease-fire taking hold. Government troops and rebel
Published 10 Apr, 2012 12:00am
UAE detains six militants

UAE detains six militants

The United Arab Emirates on Monday detained six Islamist activists whose citizenship was revoked last year after they demanded political reform in the Gulf Arab state, their lawyer said. The UAE, a top oil exporter, has weathered popular uprisings that ha
Published 10 Apr, 2012 12:00am
Former KGB officer wins vote in Georgia rebel region

Former KGB officer wins vote in Georgia rebel region

A pro-Russian former KGB officer has won the presidency in Georgia's breakaway region of South Ossetia and suggested he would push for the tiiny territory to join Russia. A mountainous region of about 30,000 people, South Ossetia has been at the heart of
Published 10 Apr, 2012 12:00am
UN sends four electrical transformers to Gaza

UN sends four electrical transformers to Gaza

The United Nations Development Programme on Monday transferred four electrical transformers to Gaza in a bid to upgrade the territory's struggling sole power plant. The UNDP, in a statement from its Gaza office, said it brought four transformers and other
Published 10 Apr, 2012 12:00am
British Prime Minister to visit Myanmar

British Prime Minister to visit Myanmar

British Prime Minister David Cameron is due in Myanmar this week on the first visit by a top Western leader since decades of military rule ended last year, government officials said Monday. Cameron will meet President Thein Sein in the capital Naypyidaw o
Published 10 Apr, 2012 12:00am
Turkey's Prime Minister oversees nuclear agreements with China

Turkey's Prime Minister oversees nuclear agreements with China

Turkey's Prime Minister oversaw the signing of two nuclear agreements with China Monday on a trip to the Asian nation that also saw him make an unprecedented stop in ethnically-tense Xinjiang. Recep Tayyip Erdogan - on the first official trip to China by
Published 10 Apr, 2012 12:00am
Fidel Castro mocks Obama over 'guayabera' diplomacy

Fidel Castro mocks Obama over 'guayabera' diplomacy

Cuban revolutionary leader Fidel Castro has mocked the idea that US President Barack Obama could wear a "guayabera" shirt at an upcoming Americas summit in Colombia, while opposing Cuba's presence at the event. News reports have said a noted Colombian des
Published 10 Apr, 2012 12:00am
India and Qatar sign oil and gas accord

India and Qatar sign oil and gas accord

India and energy-rich Qatar on Monday signed six pacts including an accord on oil and gas exploration. Prime Minister Manmohan Singh held talks with Qatar's Emir Sheikh Hamad bin Khalifa al-Thani in New Delhi, which focused on boosting trade and investmen
Published 10 Apr, 2012 12:00am
Costa Rica diplomat kidnapped in Venezuela

Costa Rica diplomat kidnapped in Venezuela

A Costa Rican diplomat was snatched from his car in Caracas over the weekend in the latest of a rash of high profile kidnappings, Venezuelan officials said Monday. The officials said armed assailants intercepted Guillermo Cholele vehicle in eastern Caraca
Published 10 Apr, 2012 12:00am
US Navy deploys second aircraft carrier to Gulf

US Navy deploys second aircraft carrier to Gulf

The US Navy said Monday it has deployed a second aircraft carrier to the Persian Gulf region amid rising tensions with Iran over its disputed nuclear program. The deployment of the nuclear-powered USS Enterprise along with the Abraham Lincoln carrier stri
Published 10 Apr, 2012 12:00am
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