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Archive - 2012-04-13
Gold surges to Rs 49,371
Markets

Gold surges to Rs 49,371

KARACHI: Gold surged by Rs 343 to Rs 49,371 per 10 grams in the local market Friday as its international price increased
Published 13 Apr, 2012 03:47pm
RECORDER REPORT: KSE close of day
Top News

RECORDER REPORT: KSE close of day

KARACHI : The Karachi share market on Friday witnessed bullish trend on the back of across the board buying by both lo
Published 13 Apr, 2012 01:10pm
Over two killed in Karachi violence
Top News

Over two killed in Karachi violence

KARACHI: At least two persons were killed in a fresh spate of violence in the Lee Market area of Lyari, the media report
Published 13 Apr, 2012 12:43pm
US presses Sri Lanka over human rights
Top News

US presses Sri Lanka over human rights

COLOMBO: US Secretary of State Hilary Clinton on Friday urged Sri Lanka to build a "democratic nation" with full respect
Published 13 Apr, 2012 05:33am
Japan bank to install palm reading ATMs
Top News

Japan bank to install palm reading ATMs

TOKYO: A regional bank in central Japan will become the country's first financial institution to adopt automated teller
Published 13 Apr, 2012 05:32am
RECORDER REPORT: KSE mid day update
Top News

RECORDER REPORT: KSE mid day update

KARACHI: On Friday until first half, KSE-100 Index remained positive and was at 13,902.85 with a positive change of 209.
Published 13 Apr, 2012 05:32am
Oil prices down on slower China growth
Top News

Oil prices down on slower China growth

SINGAPORE: Oil fell in Asian trade on Friday, dragged by prospects of weaker Chinese demand as data showed the country's
Published 13 Apr, 2012 04:43am
In the name of food security
BR Research

In the name of food security

The wheat procurement frenzy is here! The federal and provincial governments appear all set to pile up fresh wheat. Hundreds of billions of
Published 13 Apr, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 66,879 tonnes of cargo comprising1 14,243 tonnes of import cargo and 52,636 tonnes of export cargo including 2,777 loaded & empty containers during last 24 hours ended at 0700 hours on Wednesday.
Published 13 Apr, 2012 12:00am
Ivorian farmgate cocoa prices stable

Ivorian farmgate cocoa prices stable

Cocoa farmgate prices in Ivory Coast's main growing regions were stable to slightly higher last week as local buyers began to build stock ahead of the mid-crop but balked at paying more for poor quality beans, farmers and buyers said on Wednesday.
Published 13 Apr, 2012 12:00am
FOB Gulf corn premiums steady to firm

FOB Gulf corn premiums steady to firm

Corn export premiums at the US Gulf Coast were steady to firm on Wednesday, with nearby offers rising in tandem with the higher CIF basis as a lack of farmer selling kept supplies in the export pipeline tight, traders said.
Published 13 Apr, 2012 12:00am
US Midwest corn bids firm

US Midwest corn bids firm

Corn spot basis bids were firm at river terminals in the US Midwest on Wednesday due to a pickup in exporter demand and continued slow movement as farmers planted their corn crop.
Published 13 Apr, 2012 12:00am
Oil market breaks two-year cycle of tightening supplies

Oil market breaks two-year cycle of tightening supplies

The oil market has broken a two-year cycle of tightening supply conditions, the International Energy Agency said on Thursday, as demand growth weakens and top exporter Saudi Arabia increases output. The agency, which advises industrialised nations on thei
Published 13 Apr, 2012 12:00am
US jobless claims cast cloud on labour market

US jobless claims cast cloud on labour market

The number of Americans filing for jobless aid hit a two-month high last week and more applications were received in the prior week than initially reported, suggesting a cooling in the labour market recovery. Initial claims for state unemployment benefits
Published 13 Apr, 2012 12:00am
Bill Clinton goes to bat in bid to save Exim Bank

Bill Clinton goes to bat in bid to save Exim Bank

Former President Bill Clinton on Thursday urged Congress to put aside partisan differences and reauthorize the nearly 80-year-old US Export-Import Bank, which he said was key to helping the United States expand job-creating exports.
Published 13 Apr, 2012 12:00am
Upstart exchanges eye Spain, final EU frontier

Upstart exchanges eye Spain, final EU frontier

Europe's aggressive new low-cost stock markets are set to storm into the only major European market where they still lack a significant share, helped by the collapse of a Spanish bank plan to set up their own rival to the main exchange.
Published 13 Apr, 2012 12:00am
US prime money funds cut eurozone debt in March

US prime money funds cut eurozone debt in March

US prime money funds lowered their holdings of euro zone bank securities in March after two months of increases, primarily due to quarter-end withdrawals, J.P. Morgan analysts said in a report released late Wednesday. These ultra short-term investments, w
Published 13 Apr, 2012 12:00am
US prime money funds cut eurozone debt in March

US prime money funds cut eurozone debt in March

US prime money funds lowered their holdings of euro zone bank securities in March after two months of increases, primarily due to quarter-end withdrawals, J.P. Morgan analysts said in a report released late Wednesday. These ultra short-term investments, w
Published 13 Apr, 2012 12:00am
Rich countries must bite bullet on debt: OECD

Rich countries must bite bullet on debt: OECD

The world's richest countries should take immediate, tough steps to reduce debt, a "major challenge" which must be met so as to stabilise their strained public finances, the OECD said Thursday.
Published 13 Apr, 2012 12:00am
Rich countries must bite bullet on debt: OECD

Rich countries must bite bullet on debt: OECD

The world's richest countries should take immediate, tough steps to reduce debt, a "major challenge" which must be met so as to stabilise their strained public finances, the OECD said Thursday.
Published 13 Apr, 2012 12:00am
China's new lending hits 14-month highs

China's new lending hits 14-month highs

China's bank lending trumped forecasts to spike to 1.01 trillion yuan ($160 billion) in March, a sign of fresh traction in Beijing's bid to boost credit creation to support the cooling economy.
Published 13 Apr, 2012 12:00am
India posts sluggish industrial output

India posts sluggish industrial output

India's industrial production grew at a slower-than-expected pace in February, weighed down by a contraction in output of consumer durable goods, reinforcing expectations the central bank will cut interest rates next week to revive demand.
Published 13 Apr, 2012 12:00am
Group of 30 urges big banks to reform governance

Group of 30 urges big banks to reform governance

The Group of Thirty, a private organization of influential regulators, financial executives and academics, has thrown its weight behind reform of corporate governance practices at the world's biggest financial companies, implicating executives, board memb
Published 13 Apr, 2012 12:00am
JPMorgan on top in revenue war, Goldman sags

JPMorgan on top in revenue war, Goldman sags

US group JPMorgan kept its top position in investment banking revenue last year, with Goldman Sachs and Credit Suisse losing most ground in a tough year for the industry, a study showed on Thursday. The world's 10 top investment banks all saw revenues dro
Published 13 Apr, 2012 12:00am
Putin unveils $500 billion offshore energy drive

Putin unveils $500 billion offshore energy drive

Vladimir Putin vowed Thursday to win $500 billion in investment for Russian offshore field development over 30 years to tap the country's full energy potential with the help of foreign expertise.
Published 13 Apr, 2012 12:00am
IMF agrees $987 million loan package for Bangladesh

IMF agrees $987 million loan package for Bangladesh

The International Monetary Fund on Wednesday announced a nearly billion dollar loan package to reform Bangladesh's ailing economy. Under the three year deal worth $987 million, Bangladesh will embark on wide-reaching structural reforms to get its economy
Published 13 Apr, 2012 12:00am
MDTF announces $16 million grant for KP, Fata

MDTF announces $16 million grant for KP, Fata

The Khyber-Pakhtunkhwa (KPK), Federally Administered Tribal Areas (Fata) and Balochistan Multi Donor Trust Fund (MDTF) announced on Thursday the approval of US $16 million grant that will help improve the availability, accessibility and delivery of primar
Published 13 Apr, 2012 12:00am
KP giving top priority to social sector: minister

KP giving top priority to social sector: minister

The provincial government will allocate maximum resources for the development of social sector, instead of increasing current expenditure, Khyber-Pakhtunkhwa's Minister for Finance Mohammad Hamayun Khan said on Thursday.
Published 13 Apr, 2012 12:00am
LHC stays Islamiat book publication

LHC stays Islamiat book publication

The Lahore High Court on Thursday stayed publication of 9th class Islamiat book according to old syllabus and sought reply from Punjab Text Book Board by May 11. A local publisher has challenged an order of Punjab Chief Minister through the publication of
Published 13 Apr, 2012 12:00am
Export of mangoes to Lebanon, Australia soon: Zehri

Export of mangoes to Lebanon, Australia soon: Zehri

Federal Minister for National Food Security & Research (NFS&R), Israrullah Khan Zehri, on Thursday said that Pakistan would start exporting mangoes to Lebanon and Australia from this year.
Published 13 Apr, 2012 12:00am
Pakistan, Poland to enhance defence cooperation

Pakistan, Poland to enhance defence cooperation

Minister for Defence, Chaudhry Ahmad Mukhtar on Thursday emphasised the need to enhance defence cooperation with Poland by availing various training courses, participation in military exercises and defence procurement. He was talking to Commander in Chief
Published 13 Apr, 2012 12:00am
'Punjab intends to revise child labour laws'

'Punjab intends to revise child labour laws'

Provincial Minister for Labour & Auqaf Haji Ehsanuddin Qureshi has said that Punjab government intends to revise child labour laws in view of the ratification by Pakistan on International Labour Organization (ILO) conventions 138 and 182 on child labour.
Published 13 Apr, 2012 12:00am
Speakers call for implementation of law on right to education

Speakers call for implementation of law on right to education

Participants at a workshop called for implementation of law on Right to Education, urged the civil society organizations to play their role for mass sanitization and press the government to implement the Article 25-A at earliest.
Published 13 Apr, 2012 12:00am
Power shortfall hovers around 5,000MW

Power shortfall hovers around 5,000MW

The country is facing a 5,000-megawatt shortfall in power generation after hydel generation declined as the Tarbela Resrvoir hit dead level, Pepco officials said on Thursday. Hydel gebneration units are currently producing just 2,767MW, followed by 1,618M
Published 13 Apr, 2012 12:00am
Book launched

Book launched

The book on theme, "Vital Water Signature Services, "The Prefect" by Engineer Shahnawaz Khan launched on Thursday. In this regard, a formal launching ceremony held at University of Engineering & Technology (UET) Peshawar, which attended by a large number
Published 13 Apr, 2012 12:00am
Thai media team meets Punjab caretaker governor

Thai media team meets Punjab caretaker governor

Rana Muhammad Iqbal caretaker-governor of Punjab on Thursday met with a six-member media delegation from Thailand. He stated that role of media in maintenance of democracy in the country was worth appreciating. He said upholding of constitution, independe
Published 13 Apr, 2012 12:00am
US MIDDAY: gold surges

US MIDDAY: gold surges

Spot gold prices jumped more than 1 percent on Thursday, with technical buying a strengthening euro and hopes for a Fed stimulus to the US economy cited as driving a late-morning recovery in bullion, which had declined in early trade.
Published 13 Apr, 2012 12:00am
US MIDDAY: copper jumps

US MIDDAY: copper jumps

In New York, the May COMEX contract climbed 8.10 cents to settle at $3.7205 per lb on Thursday, near the upper end of its $3.6340 to $3.7310 session range. COMEX copper volumes reached above 92,500 lots in late New York trade, more than 50 percent above t
Published 13 Apr, 2012 12:00am
US MIDDAY: wheat and corn soar

US MIDDAY: wheat and corn soar

US wheat rallied 2 percent on Thursday, posting its biggest daily gain so far this month and corn rose as well after a cold snap threatened to harm the American crops.
Published 13 Apr, 2012 12:00am
Gold rises in Europe

Gold rises in Europe

Gold reversed losses and rallied on Thursday, set for its largest weekly gain in six weeks, as a decline in the dollar in the wake of downbeat weekly US jobless data gave the bullion prices an extra lift. The US Labour Department on Thursday said weekly f
Published 13 Apr, 2012 12:00am
Gold flat in Asia

Gold flat in Asia

Gold hovered near $1,660 an ounce on Thursday, supported by a steady euro on easing fears about the eurozone debt crisis, though investors remained cautious on the outlook for peripheral economies and were awaiting more clues on global growth.
Published 13 Apr, 2012 12:00am
Gold dips in New York

Gold dips in New York

Gold dipped on Wednesday as a buying spree paused after four straight sessions of gains, but the stronger euro and a bullish price outlook from metals consultancy GFMS provided support. "The market tone is a bit better, but we have had a bit of risk-back-
Published 13 Apr, 2012 12:00am
Sugar and cocoa up

Sugar and cocoa up

Raw sugar and cocoa futures shot higher on Thursday in reaction to a weaker dollar, while coffee values were mixed in dealings dominated by switch and spread trading. Sugar bucked what would be bearish numbers from sugar industry group Unica in Brazil, wh
Published 13 Apr, 2012 12:00am
Palm oil dips

Palm oil dips

Malaysian palm oil futures fell on Thursday after resuming trading after a one-day break, as traders booked profits and buying interest was limited by concerns over the European debt crisis and a possible slowdown in the global economy.
Published 13 Apr, 2012 12:00am
Soya sags

Soya sags

US soyabeans declined half a percent on Wednesday as investors booked profits a day after prices hit a seven-month high, while wheat rose due to a lower dollar and to a cold snap that threatened the newly sown spring wheat crop and some of the more mature
Published 13 Apr, 2012 12:00am
Tokyo rubber futures edge higher

Tokyo rubber futures edge higher

Key TOCOM rubber futures crept up on Thursday, after a sharp 3.7 percent drop in the previous session, supported by easing fears about the euro zone debt crisis although investors remained cautious on the outlook for global growth. The key Tokyo Commodity
Published 13 Apr, 2012 12:00am
New York cotton ends at ten-day peak

New York cotton ends at ten-day peak

Cotton futures surged to their highest close in 10 days on Thursday, mainly due to investment funds rolling long positions to back months and some outright speculative short-covering inspired in part by strong outside markets, dealers said.
Published 13 Apr, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 13 Apr, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 13 Apr, 2012 12:00am
Oil stays higher

Oil stays higher

Oil rose for a second straight day on Thursday as rumours that data will show strong growth in China's GDP boosted investor appetite in riskier assets across several markets. Traders said commodity and equities markets got a boost ahead of China's first q
Published 13 Apr, 2012 12:00am
Copper surges over two percent

Copper surges over two percent

Copper rose over 2 percent on Thursday as investors' concerns about Europe's debt crisis eased following a debt auction in Italy and on speculation that Chinese growth data could come in better than expected on Friday. Benchmark copper on the London Metal
Published 13 Apr, 2012 12:00am
Shanghai copper gains

Shanghai copper gains

The most-active July copper contract on the Shanghai Futures Exchange inched up 0.7 percent to close at 58,250 yuan ($9,200) per tonne on Thursday, after sliding more than 2 percent in the prior session. Base metals followed Asian equities and the euro hi
Published 13 Apr, 2012 12:00am
Budget strategy 2012-15

Budget strategy 2012-15

The budget strategy paper prepared by the Finance Division accepts the 'possible fiscal risks' to the budget for the forthcoming fiscal year and identifies 'detailed assumptions underlying the projections for the next year.' The fiscal risks have been mad
Published 13 Apr, 2012 12:00am
Budget strategy 2012-15

Budget strategy 2012-15

The budget strategy paper prepared by the Finance Division accepts the 'possible fiscal risks' to the budget for the forthcoming fiscal year and identifies 'detailed assumptions underlying the projections for the next year.' The fiscal risks have been mad
Published 13 Apr, 2012 12:00am
Jobs in South Africa

Jobs in South Africa

According to a Recorder report, the federal government is working on a proposal received from its Pretoria High Commission for sending thousands of technicians, draftsmen, electricians, boiler operators, laboratory assistants, miners, nurses, doctors, pha
Published 13 Apr, 2012 12:00am
Electricity crisis and circular debt

Electricity crisis and circular debt

The electricity crisis being faced in the country is devastating for the economic survival as well as for the well-being of the population. Not to speak of new ventures, existing factories and businesses are being shut down due to non-availability of elec
Published 13 Apr, 2012 12:00am
German-Swiss pact on hidden accounts: Lessons for Pakistan - I

German-Swiss pact on hidden accounts: Lessons for Pakistan - I

"As much as half the assets stowed in Swiss banks, estimated by experts at $2 trillion, may be undeclared money" - iCharles de Boissezon, presently Chief Executive of Geneva-based Indian Hinduja private bank and former head of Switzerland's Banque Piguet.
Published 13 Apr, 2012 12:00am
Vital role of financial professionals

Vital role of financial professionals

In the current economic climate, a sound, solid and healthy business sector is important for whole of Pakistan, and indeed for the wider subcontinent. ACCA (the Association of Chartered Certified Accountants) believes that financial professionals have a v
Published 13 Apr, 2012 12:00am
Street children

Street children

The International Day for Street Children was celebrated for the first time on April 12, 2011. Occasions such as the International Day for Street Children have given us the opportunity to review the situation and adopt more practical strategies to tackle
Published 13 Apr, 2012 12:00am
"Cross border learning in the region can really help all", Pramod John

"Cross border learning in the region can really help all", Pramod John

Prakruthi is a non-governmental organisation (NGO) established in India in 1992. It emerged as the culmination of the Chipko-Appiko movement in the Western Ghats in the states of Karnataka in South India; where students returned to their local communities
Published 13 Apr, 2012 12:00am
"Cross border learning in the region can really help all", Pramod John

"Cross border learning in the region can really help all", Pramod John

Prakruthi is a non-governmental organisation (NGO) established in India in 1992. It emerged as the culmination of the Chipko-Appiko movement in the Western Ghats in the states of Karnataka in South India; where students returned to their local communities
Published 13 Apr, 2012 12:00am
KSE approves three-year term of board's directors

KSE approves three-year term of board's directors

The members of Karachi Stock Exchange (KSE) unanimously approved three-year term of directors at KSE board. This approval was given by the members at an extraordinary general meeting held at KSE on Thursday.
Published 13 Apr, 2012 12:00am
NYA urges government to form Youth Commission at federal level

NYA urges government to form Youth Commission at federal level

The National Youth Assembly (NYA) has demanded that the government should form National Youth Commission at federal level so that 63 percent young generation could play their due role for the betterment of the country.
Published 13 Apr, 2012 12:00am
New terms of engagement

New terms of engagement

The joint-sitting of the Parliament on Thursday unanimously passed new terms of engagement with the US but kept mum over Nato supply route, making it crystal clear that Pakistani territory including its air space shall not be used for transportation of ar
Published 13 Apr, 2012 12:00am
New terms of engagement

New terms of engagement

The joint-sitting of the Parliament on Thursday unanimously passed new terms of engagement with the US but kept mum over Nato supply route, making it crystal clear that Pakistani territory including its air space shall not be used for transportation of ar
Published 13 Apr, 2012 12:00am
Gilani vows to implement resolution

Gilani vows to implement resolution

Congratulating parliament on the unanimous adoption of a resolution by the joint-sitting of parliament, Prime Minister Syed Yousuf Raza Gilani said on Thursday new terms of engagement with US will be implemented in 'letter and spirit'. "Today's unanimous
Published 13 Apr, 2012 12:00am
Gilani vows to implement resolution

Gilani vows to implement resolution

Congratulating parliament on the unanimous adoption of a resolution by the joint-sitting of parliament, Prime Minister Syed Yousuf Raza Gilani said on Thursday new terms of engagement with US will be implemented in 'letter and spirit'. "Today's unanimous
Published 13 Apr, 2012 12:00am
Zardari praises Prime Minister and Parliament

Zardari praises Prime Minister and Parliament

President Asif Ali Zardari has congratulated the Prime Minister, the Parliament, all the political parties in the ruling coalition, opposition and independents and the Parliamentary Committee on National Security over the unanimous adoption of recommendat
Published 13 Apr, 2012 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

The Exchange Rates Committee of State Bank of Pakistan issued the following exchange rates bulletin here on Thursday (April 12, 2012). Conversion rates for foreign currency deposits, DBC/FCBC, Special US $ Bonds and profits thereon and for forward cover f
Published 13 Apr, 2012 12:00am
Zardari praises Prime Minister and Parliament

Zardari praises Prime Minister and Parliament

President Asif Ali Zardari has congratulated the Prime Minister, the Parliament, all the political parties in the ruling coalition, opposition and independents and the Parliamentary Committee on National Security over the unanimous adoption of recommendat
Published 13 Apr, 2012 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 13 Apr, 2012 12:00am
CSF restored

CSF restored

The United States has restored the Coalition Support Fund (CSF) for Pakistan and finance ministry has received some amount out of outstanding $3 billion, Aaj News reported. Quoting a federal minister, the channel said the US had to pay $3 billion in terms
Published 13 Apr, 2012 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (April 12, 2012).

Published 13 Apr, 2012 12:00am
CSF restored

CSF restored

The United States has restored the Coalition Support Fund (CSF) for Pakistan and finance ministry has received some amount out of outstanding $3 billion, Aaj News reported. Quoting a federal minister, the channel said the US had to pay $3 billion in terms
Published 13 Apr, 2012 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Thursday (April 12, 2012).

Published 13 Apr, 2012 12:00am
US to discuss policy recommendations

US to discuss policy recommendations

The United States Thursday said that it was looking forward to discussing with Pakistan the policy recommendations unanimously passed by the joints sitting of the Parliament. "We have seen that the joint session of the Pakistani parliament has approved th
Published 13 Apr, 2012 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (April 12, 2012).

Published 13 Apr, 2012 12:00am
US to discuss policy recommendations

US to discuss policy recommendations

The United States Thursday said that it was looking forward to discussing with Pakistan the policy recommendations unanimously passed by the joints sitting of the Parliament. "We have seen that the joint session of the Pakistani parliament has approved th
Published 13 Apr, 2012 12:00am
Dr Aafia's issue excluded: Nisar

Dr Aafia's issue excluded: Nisar

Ch Nisar Ali Khan said that all parties were unanimous over the inclusion of Dr Aafia Siddiqui's issue in the recommendations but the government excluded it along with the condition in relation to the delivery of half of Nato supplies through railways.
Published 13 Apr, 2012 12:00am
Dr Aafia's issue excluded: Nisar

Dr Aafia's issue excluded: Nisar

Ch Nisar Ali Khan said that all parties were unanimous over the inclusion of Dr Aafia Siddiqui's issue in the recommendations but the government excluded it along with the condition in relation to the delivery of half of Nato supplies through railways.
Published 13 Apr, 2012 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Thursday (April 12, 2012).

Published 13 Apr, 2012 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (April 12, 2012).
Published 13 Apr, 2012 12:00am
Import of 0.3 million tons of urea approved by ECC

Import of 0.3 million tons of urea approved by ECC

The Economic Co-ordination Committee (ECC) of the Cabinet meeting presided over by Finance Minister Dr Abdul Hafeez Sheikh has approved the import of 300,000 tons of urea for Kharif season. Sources said the ECC meeting held on Thursday was informed that 0
Published 13 Apr, 2012 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (April 12, 2012).

Published 13 Apr, 2012 12:00am
Import of 0.3 million tons of urea approved by ECC

Import of 0.3 million tons of urea approved by ECC

The Economic Co-ordination Committee (ECC) of the Cabinet meeting presided over by Finance Minister Dr Abdul Hafeez Sheikh has approved the import of 300,000 tons of urea for Kharif season. Sources said the ECC meeting held on Thursday was informed that 0
Published 13 Apr, 2012 12:00am
Import of 0.3 million tons of urea approved by ECC

Import of 0.3 million tons of urea approved by ECC

The Economic Co-ordination Committee (ECC) of the Cabinet meeting presided over by Finance Minister Dr Abdul Hafeez Sheikh has approved the import of 300,000 tons of urea for Kharif season. Sources said the ECC meeting held on Thursday was informed that 0
Published 13 Apr, 2012 12:00am
TCP's urea imports top 1.14 million tons

TCP's urea imports top 1.14 million tons

The Trading Corporation of Pakistan (TCP) has so far imported as much as 1.14 million tons of urea to bridge the supply-demand gap in the domestic market. After issuing different tenders, TCP finalised deals for about a million tons of urea import with se
Published 13 Apr, 2012 12:00am
TCP's urea imports top 1.14 million tons

TCP's urea imports top 1.14 million tons

The Trading Corporation of Pakistan (TCP) has so far imported as much as 1.14 million tons of urea to bridge the supply-demand gap in the domestic market. After issuing different tenders, TCP finalised deals for about a million tons of urea import with se
Published 13 Apr, 2012 12:00am
TCP''s urea imports top 1.14 million tons

TCP''s urea imports top 1.14 million tons

The Trading Corporation of Pakistan (TCP) has so far imported as much as 1.14 million tons of urea to bridge the supply-demand gap in the domestic market. After issuing different tenders, TCP finalised deals for about a million tons of urea import with se
Published 13 Apr, 2012 12:00am
India replaces China as Iran's top oil client

India replaces China as Iran's top oil client

India has vaulted to the top of the list of Iran's oil customers, overtaking China, in a first-quarter buying surge ahead of tighter sanctions against Tehran this summer, data published by a leading industry consultant showed.
Published 13 Apr, 2012 12:00am
India replaces China as Iran's top oil client

India replaces China as Iran's top oil client

India has vaulted to the top of the list of Iran's oil customers, overtaking China, in a first-quarter buying surge ahead of tighter sanctions against Tehran this summer, data published by a leading industry consultant showed.
Published 13 Apr, 2012 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (April 12, 2012).

Published 13 Apr, 2012 12:00am
India replaces China as Iran''s top oil client

India replaces China as Iran''s top oil client

India has vaulted to the top of the list of Iran''s oil customers, overtaking China, in a first-quarter buying surge ahead of tighter sanctions against Tehran this summer, data published by a leading industry consultant showed.
Published 13 Apr, 2012 12:00am
Iran offers Asia oil buyers easier credit terms: Financial Times

Iran offers Asia oil buyers easier credit terms: Financial Times

Iran is offering Asian oil buyers, including India, easier credit terms to lure more business and counteract tough Western sanctions aimed at restricting the OPEC member's principal export, the Financial Times reported on Thursday. Tehran has been
Published 13 Apr, 2012 12:00am
Iran offers Asia oil buyers easier credit terms: Financial Times

Iran offers Asia oil buyers easier credit terms: Financial Times

Iran is offering Asian oil buyers, including India, easier credit terms to lure more business and counteract tough Western sanctions aimed at restricting the OPEC member's principal export, the Financial Times reported on Thursday. Tehran has been
Published 13 Apr, 2012 12:00am
Iran offers Asia oil buyers easier credit terms: Financial Times

Iran offers Asia oil buyers easier credit terms: Financial Times

Iran is offering Asian oil buyers, including India, easier credit terms to lure more business and counteract tough Western sanctions aimed at restricting the OPEC member''s principal export, the Financial Times reported on Thursday. Tehran has been
Published 13 Apr, 2012 12:00am
SBP to release MPS today: no change in discount rate likely

SBP to release MPS today: no change in discount rate likely

The State Bank of Pakistan (SBP) will release Monetary Policy Statement (MPS) on Friday (today) with analysts expecting no change in the discount rate for the next two months. The SBP's Central Board of Directors is going to meet on April 13, 2012 at the
Published 13 Apr, 2012 12:00am
SBP to release MPS today: no change in discount rate likely

SBP to release MPS today: no change in discount rate likely

The State Bank of Pakistan (SBP) will release Monetary Policy Statement (MPS) on Friday (today) with analysts expecting no change in the discount rate for the next two months. The SBP's Central Board of Directors is going to meet on April 13, 2012 at the
Published 13 Apr, 2012 12:00am
SBP to release MPS today: no change in discount rate likely

SBP to release MPS today: no change in discount rate likely

The State Bank of Pakistan (SBP) will release Monetary Policy Statement (MPS) on Friday (today) with analysts expecting no change in the discount rate for the next two months. The SBP''s Central Board of Directors is going to meet on April 13, 2012 at the
Published 13 Apr, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

Jubilee Life Insurance Meeseq Fund Rates on Thursday (April 12, 2012).

Published 13 Apr, 2012 12:00am
Aitzaz urges judges to refer case to 17-member bench

Aitzaz urges judges to refer case to 17-member bench

Defending the Prime Minister Syed Yousuf Raza Gilani in a contempt of court case, his counsel Aitzaz Ahsan on Thursday urged a special Supreme Court bench to refer the case to a 17-member bench for a "fair" trial.
Published 13 Apr, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

Jubilee Life Insurance Meeseq Fund Rates on Thursday (April 12, 2012).

Published 13 Apr, 2012 12:00am
Aitzaz urges judges to refer case to 17-member bench

Aitzaz urges judges to refer case to 17-member bench

Defending the Prime Minister Syed Yousuf Raza Gilani in a contempt of court case, his counsel Aitzaz Ahsan on Thursday urged a special Supreme Court bench to refer the case to a 17-member bench for a "fair" trial.
Published 13 Apr, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

Jubilee Life Insurance Meeseq Fund Rates on Thursday (April 12, 2012).

Published 13 Apr, 2012 12:00am
Irfan Qadir new Attorney General

Irfan Qadir new Attorney General

Prime Minister Yousuf Raza Gilani on Thursday appointed Irfan Qadir as Attorney General for Pakistan with immediate effect. Irfan Qadir was working as law secretary and had hardly spent one month in the ministry. Qadir also worked as Consultant Legal Affa
Published 13 Apr, 2012 12:00am
Irfan Qadir new Attorney General

Irfan Qadir new Attorney General

Prime Minister Yousuf Raza Gilani on Thursday appointed Irfan Qadir as Attorney General for Pakistan with immediate effect. Irfan Qadir was working as law secretary and had hardly spent one month in the ministry. Qadir also worked as Consultant Legal Affa
Published 13 Apr, 2012 12:00am
AGP asked to submit schedule for LG polls

AGP asked to submit schedule for LG polls

While hearing a case relating to local government elections, the Chief Justice asked all the top legal officers and Attorney General for Pakistan to submit a schedule for the local bodies' elections by September 30. Chief Justice Iftikhar Muhammad Chaudhr
Published 13 Apr, 2012 12:00am
AGP asked to submit schedule for LG polls

AGP asked to submit schedule for LG polls

While hearing a case relating to local government elections, the Chief Justice asked all the top legal officers and Attorney General for Pakistan to submit a schedule for the local bodies' elections by September 30. Chief Justice Iftikhar Muhammad Chaudhr
Published 13 Apr, 2012 12:00am
Lifeline consumers' quota raised by 10 0percent: power rate cut notified

Lifeline consumers' quota raised by 10 0percent: power rate cut notified

The government has extended the lifeline electricity consumers' quota from 50 units per month to 100 units per month, effective May 2012. According to a notification issued by the Ministry of Water and Power on Thursday, the government has reduced the ele
Published 13 Apr, 2012 12:00am
Lifeline consumers' quota raised by 10 0percent: power rate cut notified

Lifeline consumers' quota raised by 10 0percent: power rate cut notified

The government has extended the lifeline electricity consumers' quota from 50 units per month to 100 units per month, effective May 2012. According to a notification issued by the Ministry of Water and Power on Thursday, the government has reduced the ele
Published 13 Apr, 2012 12:00am
Index loses 123.22 points

Index loses 123.22 points

The KSE-100 index on Thursday declined by 123.22 points to close at 13,693.74 points as investors opted for selling due to selling mainly by local investors and institutions. The market opened slightly positive and the index touched 13,828.17 points intra
Published 13 Apr, 2012 12:00am
Index loses 123.22 points

Index loses 123.22 points

The KSE-100 index on Thursday declined by 123.22 points to close at 13,693.74 points as investors opted for selling due to selling mainly by local investors and institutions. The market opened slightly positive and the index touched 13,828.17 points intra
Published 13 Apr, 2012 12:00am
Index loses 123.22 points

Index loses 123.22 points

The KSE-100 index on Thursday declined by 123.22 points to close at 13,693.74 points as investors opted for selling due to selling mainly by local investors and institutions. The market opened slightly positive and the index touched 13,828.17 points intra
Published 13 Apr, 2012 12:00am
BRIndex30 falls by 259.96 points

BRIndex30 falls by 259.96 points

On Thursday, BRIndex30 opened at 10,518.55 and remained negative throughout the trading session. It touched an intraday high of 10,518.55 and an intraday low of 10,209.44 and closed at 10,258.59 which was -259.96 points or -2.47 percent lower than previou
Published 13 Apr, 2012 12:00am
BRIndex30 falls by 259.96 points

BRIndex30 falls by 259.96 points

On Thursday, BRIndex30 opened at 10,518.55 and remained negative throughout the trading session. It touched an intraday high of 10,518.55 and an intraday low of 10,209.44 and closed at 10,258.59 which was -259.96 points or -2.47 percent lower than previou
Published 13 Apr, 2012 12:00am
LSE index sheds 87.09 points

LSE index sheds 87.09 points

Bullish sentiments dominated on the Lahore Stock Exchange on Thursday and the equities registered declines across the board amid selling pressure due to profit taking.
Published 13 Apr, 2012 12:00am
LSE index sheds 87.09 points

LSE index sheds 87.09 points

Bullish sentiments dominated on the Lahore Stock Exchange on Thursday and the equities registered declines across the board amid selling pressure due to profit taking.
Published 13 Apr, 2012 12:00am
Public Sector Enterprises: Hafeez supports SECP's initiatives

Public Sector Enterprises: Hafeez supports SECP's initiatives

Finance Minister Dr Abdul Hafeez Shaikh has said the government is making all out efforts to develop a system for bringing accountability and transparency in the State-Owned Enterprises through code of corporate governance for Public Sector Enterprises (P
Published 13 Apr, 2012 12:00am
Public Sector Enterprises: Hafeez supports SECP's initiatives

Public Sector Enterprises: Hafeez supports SECP's initiatives

Finance Minister Dr Abdul Hafeez Shaikh has said the government is making all out efforts to develop a system for bringing accountability and transparency in the State-Owned Enterprises through code of corporate governance for Public Sector Enterprises (P
Published 13 Apr, 2012 12:00am
Lawmaker involved in insurance fraud

Lawmaker involved in insurance fraud

The Pakistan Economy Watch (PEW) on Thursday said that some politicians have started filing false claims for financial profit. The insurance industry has a defence mechanism against false or exaggerated claims, but it becomes difficult when policy holder
Published 13 Apr, 2012 12:00am
Lawmaker involved in insurance fraud

Lawmaker involved in insurance fraud

The Pakistan Economy Watch (PEW) on Thursday said that some politicians have started filing false claims for financial profit. The insurance industry has a defence mechanism against false or exaggerated claims, but it becomes difficult when policy holder
Published 13 Apr, 2012 12:00am
Syria truce takes shaky hold

Syria truce takes shaky hold

Syrian troops held their fire on Thursday after a UN-backed cease-fire deadline passed, giving respite to rebellious towns that have suffered heavy bombardments, but international envoy Kofi Annan pressed Damascus to pull its forces back entirely.
Published 13 Apr, 2012 12:00am
Syria truce takes shaky hold

Syria truce takes shaky hold

Syrian troops held their fire on Thursday after a UN-backed cease-fire deadline passed, giving respite to rebellious towns that have suffered heavy bombardments, but international envoy Kofi Annan pressed Damascus to pull its forces back entirely.
Published 13 Apr, 2012 12:00am
Bill clearanc: power sector now owes Rs 192 billion to PSO

Bill clearanc: power sector now owes Rs 192 billion to PSO

Pakistan State Oil's (PSO) receivables have surged to Rs192 billion after its outstanding dues against the power sector increased by Rs6 billion in just one week. According to official data available with Business Recorder, PSO's total liabilities were Rs
Published 13 Apr, 2012 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 13 Apr, 2012 12:00am
Bill clearanc: power sector now owes Rs 192 billion to PSO

Bill clearanc: power sector now owes Rs 192 billion to PSO

Pakistan State Oil's (PSO) receivables have surged to Rs192 billion after its outstanding dues against the power sector increased by Rs6 billion in just one week. According to official data available with Business Recorder, PSO's total liabilities were Rs
Published 13 Apr, 2012 12:00am
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