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Archive - 2012-04-19
Chief of Naval Staff calls on President
Top News

Chief of Naval Staff calls on President

ISLAMABAD: Chief of Naval Staff Admiral Muhammad Asif Sandila called on President Asif Ali Zardari at Aiwan-e-Sadr on Th
Published 19 Apr, 2012 04:17pm
LSE loses 9.48 points
Markets

LSE loses 9.48 points

LAHORE: Bearish trend prevailed in Lahore Stock Exchange on Thursday as it shed 9.48 points, following the LSE-25 index
Published 19 Apr, 2012 04:11pm
ISE-10 sheds 11 points
Markets

ISE-10 sheds 11 points

ISLAMABAD: The Islamabad Stock Exchange (ISE-10) on Thursday witnessed bearish trend as the index was up by 11.33 points
Published 19 Apr, 2012 04:10pm
Rupee gains against dollar
Markets

Rupee gains against dollar

ISLAMABAD: The rupee here on Thursday gained five paisa against dollar by closing at Rs.90.70 when compared with previou
Published 19 Apr, 2012 03:06pm
Gold slips to at Rs 48,642
Markets

Gold slips to at Rs 48,642

KARACHI: Gold slipped by Rs 128 to Rs 48,514 per 10 grams in the local market Thursday as its international price droppe
Published 19 Apr, 2012 03:05pm
RECORDER REPORT: KSE close of day
Top News

RECORDER REPORT: KSE close of day

KARACHI: Bearish trend was witnessed on the Karachi Stock Exchange (KSE) on Thursday due to selling by local investors a
Published 19 Apr, 2012 01:47pm
Doctors save life of baby with six legs
Top News

Doctors save life of baby with six legs

KARACHI: Doctors say they have successfully operated to save the life of a baby born with six legs due to a rare genetic
Published 19 Apr, 2012 12:13pm
Record performance of FWBL in 2011
Top News

Record performance of FWBL in 2011

KARACHI: The financial year 2011 proved to be a year of record performance for First Women Bank Limited (FWBL) as bank p
Published 19 Apr, 2012 11:56am
Iraq attacks kill at least 34
Top News

Iraq attacks kill at least 34

BAGHDAD: A wave of bombing and shooting attacks in six different provinces across Iraq killed at least 34 people and wou
Published 19 Apr, 2012 08:22am
RECORDER REPORT: KSE mid day update
Top News

RECORDER REPORT: KSE mid day update

KARACHI : On Thursday until 12:45 P.M. , KSE-100 Index remained negative for most of trading session and was at 13,937
Published 19 Apr, 2012 07:58am
IMF welcomes $34bn in new pledges
Top News

IMF welcomes $34bn in new pledges

WASHINGTON: IMF director Christine Lagarde has welcomed pledges from Switzerland, Poland and other countries to provide
Published 19 Apr, 2012 06:51am
TCP plans to import 0.3mn tons of urea
Top News

TCP plans to import 0.3mn tons of urea

RIZWAN BHATTI KARACHI: Following the directives of the Economic Coordination Committee (ECC) of the Cabinet, the stat
Published 19 Apr, 2012 06:26am
Soybeans to drop to $13.81
Commodities

Soybeans to drop to $13.81

SINGAPORE: CBOT soybeans May contract will fall further to $13.981 as it has cleared support at $14.14-1/2 per bushel pr
Published 19 Apr, 2012 04:57am
March textile exports dip by 21pc
Top News

March textile exports dip by 21pc

RECORDER REPORT ISLAMABAD: Exports of textile products declined by 21 percent in March this year to $1.04 billion aga
Published 19 Apr, 2012 03:22am
DGKC shines - as expected
BR Research

DGKC shines - as expected

Although DG Khan Cements earnings for 3QFY12 were below analysts expectations, they did show a phenomenal year-on-year growth, much in line
Published 19 Apr, 2012 12:00am
Siachen Glacier: Malik vows not to cede an inch of land

Siachen Glacier: Malik vows not to cede an inch of land

The country will not cede even an inch of its territory, Interior Minister Rehman Malik declared on Wednesday. Lashing out at Pakistan Muslim League-Nawaz (PML-N) President Mian Nawaz Sharif for his remarks on Siachen Glacier, he said that the PML_N chief
Published 19 Apr, 2012 12:00am
Dar refuses to accept discretionary grants as opposition leader

Dar refuses to accept discretionary grants as opposition leader

Opposition Leader in Senate Senator Ishaq Dar has refused to accept and utilise discretionary grant as leader of the opposition. In a letter sent to Chairman Senate Nayyer Hussain Bohkari, Dar said that he had never availed and utilized the discretionary
Published 19 Apr, 2012 12:00am
Most Pakistanis in clutches of food insecurity: PEW

Most Pakistanis in clutches of food insecurity: PEW

Pakistan's population is rapidly becoming a victim of food insecurity, damaging society and reducing productivity, the Pakistan Economy Watch (PEW) said on Wednesday. Criticising the decision-makers, it said that they were ignoring this critical issue.
Published 19 Apr, 2012 12:00am
Buyers and sellers: FBR to give specific reasons for blocking STRNs

Buyers and sellers: FBR to give specific reasons for blocking STRNs

The Federal Board of Revenue (FBR) has decided to give specific reason for blocking sales tax registration numbers (STRNs) of buyers and sellers of registered persons along with quantum of share of unlawful input tax adjustment to the field formations to
Published 19 Apr, 2012 12:00am
36 confirmed dengue fever cases reported in Karachi

36 confirmed dengue fever cases reported in Karachi

Two fresh cases of confirmed dengue fever were registered in the preceding week in Karachi bringing the number of these laboratory tested cases to 36 during first 15 weeks of the current year in the metropolis.
Published 19 Apr, 2012 12:00am
Doctors concerned at shortage of medical staff in hospitals

Doctors concerned at shortage of medical staff in hospitals

The doctors community of Khyber Pakhtunkhwa has expressed grave concern over shortage of medical staff at different major and teaching hospitals in the province, demanding government to make legislation for induction of qualified jobless doctors on the po
Published 19 Apr, 2012 12:00am
IGP Punjab asked to issue seniority list of DSPs

IGP Punjab asked to issue seniority list of DSPs

The Lahore High Court (LHC) on Wednesday directed Inspector General Police (IGP), Punjab to issue seniority list of Deputy Superintendents of Police (DSPs) in line with order of the Supreme Court and the High Court.
Published 19 Apr, 2012 12:00am
Laws on electronic transactions: banking ombudsman suggests changes

Laws on electronic transactions: banking ombudsman suggests changes

The banking ombudsman has proposed certain amendments in the Part IV-A of the Banking Companies Ordinance, Electronic Transactions Ordinance of 2002 and Payment System and Electronic Fund Transfer Act of 2007 to safeguard the interests of the general publ
Published 19 Apr, 2012 12:00am
KCCI for recovery of looted goods

KCCI for recovery of looted goods

President Karachi Chamber of Commerce and Industry (KCCI), Mian Abrar Ahmad has demanded of the government to recover the looted merchandises worth millions of rupees belonging to Senior Vice President KCCI Younus Muhammad Bashir.
Published 19 Apr, 2012 12:00am
IGP Railways resumes duty

IGP Railways resumes duty

Inspector General Police (IGP) Railways, Syed Ibne Hussain has resumed his duties at Lahore office after returning back his three-day official tour to Multan Division. During his tour he visited different sections of Multan Division, held a meeting with P
Published 19 Apr, 2012 12:00am
MBBS Part II results announced

MBBS Part II results announced

University of Health Sciences (UHS) has announced the result of First Professional MBBS Part-II supplementary examination. A total of 579 candidates from 21 affiliated medical colleges appeared in the exam, out of which 331 declared passed and 248 failed.
Published 19 Apr, 2012 12:00am
Seminar on normalisation of trade with India held

Seminar on normalisation of trade with India held

A seminar on awareness campaign on normalisation of trade with India was organised by Trade Development Authority of Pakistan (TDAP) and the Hyderabad Chamber of Commerce & Industry (HCCI) on Wednesday. Dr Manzoor Ahmed, Former Ambassador of Pakistan to W
Published 19 Apr, 2012 12:00am
Industrialists for withdrawal of increase in electricity tariff

Industrialists for withdrawal of increase in electricity tariff

Massive increase of Rs 1.67 per unit in electricity tariff is not only anti-industry but anti-masses as well and is bound to give a big blow to the catastrophe-hit industrial sector. Increase should be withdrawn immediately otherwise it would give a bad n
Published 19 Apr, 2012 12:00am
Educational institutions need to act as centres of wisdom

Educational institutions need to act as centres of wisdom

Khyber Pakhtunkhwa Governor, Barrister Masood Kausar has said that the educational institutions need to act as centres of wisdom in true sense, which in the prevailing circumstances, when we as the nation are faced with the challenge of national image bui
Published 19 Apr, 2012 12:00am
Aussie and New Zealand $ climb

Aussie and New Zealand $ climb

The Australian and New Zealand dollars held handy gains against their UScounterpart and climbed on the yen on Wednesday, supported by broad weakness in the Japanese currency amid a revival in risk appetite.
Published 19 Apr, 2012 12:00am
Indian rupee tumbles

Indian rupee tumbles

The Indian rupee fell to their lowest in three months on Wednesday, erasing all intraday gains as traders bet on a much more cautious central bank now that it has delivered a bigger-than-expected rate cut. Lingering concerns over India's widening current
Published 19 Apr, 2012 12:00am
Won leads Asian forex higher

Won leads Asian forex higher

The South Korean won led gains among emerging Asian currencies on Wednesday as investors added risk holdings, but some of regional units such as the Singapore dollar slid on profit taking before another Spanish bond auction.
Published 19 Apr, 2012 12:00am
Yuan slips

Yuan slips

The yuan edged lower on Wednesday as the impact of the central bank's recent widening of the currency's daily trading band faded and the market settled into its familiar range. Spot yuan traded at 6.3051 per dollar at midday, 36 pips weaker than Tuesday's
Published 19 Apr, 2012 12:00am
Swiss franc weakens

Swiss franc weakens

The Swiss franc was slightly weaker on Wednesday ahead of the expected naming of a new permanent central bank head and after a shift back to risk currencies after a well-received Spanish debt auction and an upbeat German sentiment survey. The franc fell 0
Published 19 Apr, 2012 12:00am
Dollar, yen slip

Dollar, yen slip

The low-yielding US dollar and yen faltered on Tuesday, weighed down by an improving global economic backdrop that spurred investors to seek higher returns in riskier commodity-related currencies. Solid demand at a Spanish bill auction and upbeat German i
Published 19 Apr, 2012 12:00am
Midafternoon trade in New York: euro remains down

Midafternoon trade in New York: euro remains down

The euro fell for a second straight session on Wednesday as euro zone debt worries mounted one day ahead of a bond sale in Spain, seen as a test of Madrid's capacity to grapple with financial and budgetary pressures. The euro was further pressured by a ri
Published 19 Apr, 2012 12:00am
Euro falls versus dollar

Euro falls versus dollar

The euro dropped against the dollar on Wednesday, dragged down by heavy falls in Spanish stocks and losses against sterling, and it looked set to stay under pressure from Spain's budget troubles and the potential repercussions for the currency zone.
Published 19 Apr, 2012 12:00am
Yen falls broadly in Asia

Yen falls broadly in Asia

The yen fell broadly on Wednesday, extending its slip from a seven-week high against the dollar earlier this week, as a revival in risk appetite saw Wall Street score its biggest gains in a month.
Published 19 Apr, 2012 12:00am
Sterling rallies after BoE minutes

Sterling rallies after BoE minutes

Signs more stimulus from the Bank of England is now off the cards drove sterling to a 19-month high against the euro and a trade-weighted index and helped it climb to a two-week high against the US dollar on Wednesday.
Published 19 Apr, 2012 12:00am
Best people to be inducted in provincial judiciary: CJ LHC

Best people to be inducted in provincial judiciary: CJ LHC

Chief Justice Lahore High Court (LHC) Justice Sheikh Azmat Saeed has said best people would be inducted in all tiers of provincial judiciary. He was talking to a 50-member delegation of Lahore Tax Bar Association (LTBA) which called on him here.
Published 19 Apr, 2012 12:00am
Haier organises annual function

Haier organises annual function

The Haier brand seminar 2012 held the other day at a local hotel in Lahore was indeed a grand success, as dealers big and small from all over the country participated in sizeable numbers.
Published 19 Apr, 2012 12:00am
Business community rejects hike in power tariff

Business community rejects hike in power tariff

The business community has rejected further increase of Rs 1.67 per unit in power tariff, asking the government to withdraw this raise, otherwise, traders would have no other option except to take to streets. Anjuman-e-Tajran Pakistan President Khalid Per
Published 19 Apr, 2012 12:00am
Elahi holds Shahbaz responsible for power outages in Punjab

Elahi holds Shahbaz responsible for power outages in Punjab

Pakistan Muslim League-Q Senior Central Leader Chaudhry Parvez Elahi has said that Punjab Chief Minister is responsible for power outages in Punjab. Speaking as the chief guest at the oath taking ceremony of newly-elected office-bearers of All Pakistan Po
Published 19 Apr, 2012 12:00am
LHC restrains ETPB from selling land attached to Gurdwara

LHC restrains ETPB from selling land attached to Gurdwara

The Lahore High Court (LHC) here on Wednesday restrained Evacuee Trust Property Board (ETPB) from selling out land attached to a Gurdwara in Lahore Cantonment without prior permission of the court. The court also directed deputy administrator ETPB to prod
Published 19 Apr, 2012 12:00am
LHC reserves verdict

LHC reserves verdict

The Lahore High Court on Wednesday reserved its verdict on petition of a veteran journalist Shafqat Tanvir Mirza. The petitioner had sought release of his past pension benefits withheld by National Press Trust (NPT).
Published 19 Apr, 2012 12:00am
LCCI expresses concern over massive decline in FDI

LCCI expresses concern over massive decline in FDI

The Lahore Chamber of Commerce and Industry (LCCI) on Wednesday expressed deep concern over 65 percent decline in Foreign Direct Investment (FDI) and Portfolio Investment in the last nine months (July 2011-March 2012) and urged the government to tackle it
Published 19 Apr, 2012 12:00am
Doctors to operate on six-legged baby

Doctors to operate on six-legged baby

Doctors were Wednesday discussing how to operate on a baby born with six legs, a rare deformity believed to have been caused by a genetic disorder.
Published 19 Apr, 2012 12:00am
PTI delegation meets Hazara community members

PTI delegation meets Hazara community members

A delegation of Pakistan Tehreek-e-Insaf (PTI) under the leadership of Secretary General, Dr Arif Alvi has met with prominent members of the Hazara community Aga Ashraf Zaidi, Tahir Ali Khan Hazara, Allama Asadi and Allama Maqsood Donki in Quetta.
Published 19 Apr, 2012 12:00am
Synergy Advertising gets APNS award

Synergy Advertising gets APNS award

Synergy Advertising received the Best Magazine AD Category Award for the Year 2011 at the 22nd Annual APNS Awards ceremony held in Islamabad recently.
Published 19 Apr, 2012 12:00am
GM Railways granted one-year extension 'secretly'

GM Railways granted one-year extension 'secretly'

With the consent of the railway minister, extension was granted to General Manager Pakistan Railways in violation of the Supreme Court order, senior officials of the railway ministry told Business Recorder. GM Railway Saeed Akhtar was due to retire
Published 19 Apr, 2012 12:00am
Employees of FBR call off strike

Employees of FBR call off strike

The employees of FBR who were on strike for the last 10 days have called off their strike here on Wednesday after the assurances of Federal Minister for Religious Affairs Khurshid Shah. All officers and staff of RTOs and LTUs across the country will be wo
Published 19 Apr, 2012 12:00am
NIACC for EPI holds meeting

NIACC for EPI holds meeting

Meeting of National Inter Agency Co-ordination Committee (NIACC) for Expanded Programme on Immunisation (EPI) is held here on Wednesday. The meeting was chaired by Federal Minister for Inter-Provincial Co-ordination Mir Hazar Khan Bijarani. The agenda of
Published 19 Apr, 2012 12:00am
Naval chief calls on Prime Minister

Naval chief calls on Prime Minister

Prime Minister, Syed Yousuf Raza Gilani on Wednesday said that Pakistan Navy was the protector of country's sea frontiers and assured that the government would meet all professional requirements of the Navy. He was talking to Chief of Naval Staff Admiral
Published 19 Apr, 2012 12:00am
'PTI is slowly losing shine'

'PTI is slowly losing shine'

Pakistan Tehreek-e-Insaf's (PTI) 'tsunami' seem to be gradually losing momentum as the party's activists appear to be disappointed over their leaders' move to induct supporters of former Pervez Musharraf in large numbers.
Published 19 Apr, 2012 12:00am
Health workers try to self-immolate en masse

Health workers try to self-immolate en masse

The contractual employees of National Programme for Family Planning and Primary Health Care, who are on hunger strike for last nine days, tried 'en mass self-immolation' against non-regularisation of their services.
Published 19 Apr, 2012 12:00am
SPARC unites street children with families

SPARC unites street children with families

Society for the Protection of the Rights of Child (SPARC) during last three months has unified around 42 street children with their families in the provincial capital of Khyber Pakhtunkhwa. SPARC found these children on the streets and after giving psycho
Published 19 Apr, 2012 12:00am
PRMP official meets vice chancellor of UVAS

PRMP official meets vice chancellor of UVAS

The consultant of Punjab Resource Management Programme (PRMP) Dr David Hadrill has called on University of Veterinary and Animal Sciences (UVAS) Vice Chancellor Professor Dr Talat Naseer Pasha on Wednesday at Vice Chancellor secretariat.
Published 19 Apr, 2012 12:00am
FTSE dips as ex-dividends, banks drag on miner gains

FTSE dips as ex-dividends, banks drag on miner gains

Britain's leading share index dipped into negative territory on Wednesday, pulled down by a set of ex-dividend stocks, while fears of another blow-up in the euro zone crisis kept investors nervy ahead of a Spanish debt auction.
Published 19 Apr, 2012 12:00am
Slow shares rise above key 2,000 mark

Slow shares rise above key 2,000 mark

Seoul shares rose on Wednesday to close back above the psychologically important 2,000 point level after strong demand at a Spanish debt auction calmed worries over the euro zone's financial health and rejuvenated risk appetite.
Published 19 Apr, 2012 12:00am
SE Asian markets: Manila at record high

SE Asian markets: Manila at record high

Most Southeast Asian stock markets rose on Wednesday, with the Philippines at a record high, on improved demand for the region's riskier assets after a well-received Spanish debt auction and positive US corporate earnings. The Philippines rose 0.6 percent
Published 19 Apr, 2012 12:00am
European shares retreat

European shares retreat

European shares went into reverse on Wednesday, led by heavy falls for both Spanish and Italian indexes, with bank stocks hit by investor worries over a Spanish debt auction on Thursday. The FTSEurofirst 300 index of top European shares closed down 0.7 pe
Published 19 Apr, 2012 12:00am
Nikkei surges 2 percent

Nikkei surges 2 percent

Japan's Nikkei index rallied 2.1 percent on Wednesday on robust US corporate earnings, firm demand for Spanish debt and an upbeat German economic sentiment survey, with signals that the Bank of Japan may take more easing steps also providing momentum.
Published 19 Apr, 2012 12:00am
Treasuries ease

Treasuries ease

US Treasuries prices retreated on Tuesday as gains in the US stock market and a better-than-expected bid for a Spanish short-term debt auction curbed the bid for safe-haven US government debt. Prices rose on Monday when the euro zone crisis seemed to heat
Published 19 Apr, 2012 12:00am
Treasuries ease

Treasuries ease

US Treasuries prices retreated on Tuesday as gains in the US stock market and a better-than-expected bid for a Spanish short-term debt auction curbed the bid for safe-haven US government debt. Prices rose on Monday when the euro zone crisis seemed to heat
Published 19 Apr, 2012 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks ended 0.25 percent higher on Wednesday, trimming earlier gains, as defensive plays such as glass and ceramics and construction counters among the biggest losers. AU Optronics reversed course to end 0.7 percent lower.
Published 19 Apr, 2012 12:00am
Wall Street posts best gains in a month

Wall Street posts best gains in a month

US stocks scored their biggest gains in a month on Tuesday after Coca-Cola led a round of strong earnings and as concerns about Europe's debt crisis eased as Spanish bond yields fell.
Published 19 Apr, 2012 12:00am
Wednesday's midday trade: Stocks slip on IBM, Intel

Wednesday's midday trade: Stocks slip on IBM, Intel

US stocks declined on Wednesday after uninspiring earnings from IBM and Intel, while Chesapeake Energy sank after a Reuters report highlighted that its CEO has taken out large and unusual personal loans. International Business Machines Corp and Intel Corp
Published 19 Apr, 2012 12:00am
Indian shares move up

Indian shares move up

Indian shares edged higher on Wednesday as auto makers advanced on hopes for lower costs for vehicle loans after the central bank cut interest rates, but doubts about future monetary easing led to profit-taking in recent out-performers.
Published 19 Apr, 2012 12:00am
Hong Kong, China shares spring back

Hong Kong, China shares spring back

Hong Kong shares bounced back after two days of losses on Wednesday as stronger overseas markets and a turnaround in the mainland bourses, led by the property sector, spurred some short-covering.
Published 19 Apr, 2012 12:00am
Australian shares rally

Australian shares rally

Australian shares jumped 1.4 percent to their highest close in more than five months on Wednesday as top miners posted hefty gains, banks rose and retailers attracted interest. It was BHP's second best one-day percentage gain this year. "Australian stocks
Published 19 Apr, 2012 12:00am
Gulf markets steady; Dubai bourse slips

Gulf markets steady; Dubai bourse slips

Gulf markets were steady on Wednesday as investors awaited quarterly results, while selling pressure on Dubai's small- and mid-cap stocks dragged the bourse lower. Mortgage lender Tamweel dropped 9.5 percent, cutting year-to-date gains to 105.6 percent, a
Published 19 Apr, 2012 12:00am
Inflation-wary BoE set to halt money-printing press

Inflation-wary BoE set to halt money-printing press

The Bank of England is poised to turn off its money-printing press next month, fearful that inflation will now be greater than expected and prepared to gamble that Britain's economic recovery remains on track. Minutes of the Bank's April meeting, combined
Published 19 Apr, 2012 12:00am
British quarterly unemployment declines

British quarterly unemployment declines

The number of jobless Britons fell in the three months to February, marking the first quarterly decline in almost a year, official data showed on Wednesday. The Office for National Statistics (ONS) said in a statement that the number of unemployed fell by
Published 19 Apr, 2012 12:00am
RIM launches new 'affordable' BlackBerry in India

RIM launches new 'affordable' BlackBerry in India

Research in Motion (RIM) on Wednesday launched in India what it called its "most affordable" BlackBerry smartphone, part of an aggressive push in one of its few growing markets.
Published 19 Apr, 2012 12:00am
Exxon, Rosneft eye $500 billion joint investment in oil

Exxon, Rosneft eye $500 billion joint investment in oil

ExxonMobil and Russian oil giant Rosneft could invest over $500 billion in a joint venture to explore for and produce oil in the Arctic and the Black Sea, the companies announced on Wednesday.
Published 19 Apr, 2012 12:00am
Thomas Jordan confirmed as new Swiss central bank chief

Thomas Jordan confirmed as new Swiss central bank chief

Switzerland's central bank on Wednesday confirmed interim chairman Thomas Jordan will take over as chief after former head Philipp Hildebrand quit due to a foreign exchange scandal. The appointment came as the Swiss National Bank announced a set of strict
Published 19 Apr, 2012 12:00am
BP seals $7.8 billion settlement

BP seals $7.8 billion settlement

Oil giant BP said Wednesday it has finalised a $7.8 billion deal to settle thousands of claims from fishermen and others affected by the 2010 Gulf of Mexico oil spill. The settlement, which must still be approved by a judge, will resolve the "substantial
Published 19 Apr, 2012 12:00am
Intel eyes sales pickup

Intel eyes sales pickup

Top chipmaker Intel Corp posted earnings confirming the PC industry is alive - but not kicking - and said sales would accelerate in the second half of the year with a powerful new PC processor.
Published 19 Apr, 2012 12:00am
Yahoo shows signs of life, Alibaba in the cards again

Yahoo shows signs of life, Alibaba in the cards again

Yahoo Inc reported an uptick in revenue that marked its first quarterly sales growth in three years, as new Chief Executive Scott Thompson outlined his plan to revamp the struggling Web company.
Published 19 Apr, 2012 12:00am
HSBC merges Oman unit with local lender

HSBC merges Oman unit with local lender

HSBC is to merge its business in Oman with Oman Bank and hold a majority stake in the enlarged operation, Europe's biggest bank said on Wednesday. HSBC will hold 51 percent of the group, to be named HSBC Bank Oman SOAG. OIB is Oman's fifth-largest bank, w
Published 19 Apr, 2012 12:00am
Spain banks' bad loans highest since October '94

Spain banks' bad loans highest since October '94

Spanish banks' bad loans rose to their highest level since October 1994 in February, to 8.2 percent of their credit portfolios, Bank of Spain data showed on Wednesday, as the sector continues to battle sliding house prices and a looming recession.
Published 19 Apr, 2012 12:00am
Dubai foreign trade jumps 22 percent in 2011, Iran up

Dubai foreign trade jumps 22 percent in 2011, Iran up

Dubai's foreign trade jumped by a record 22 percent in 2011 driven by strong flows with Asia that offset the impact of international sanctions against Iran, the emirate's traditional trade partner, data from the Dubai Customs showed on Wednesday.
Published 19 Apr, 2012 12:00am
Iran starts feed grain imports as sanctions bite

Iran starts feed grain imports as sanctions bite

Iran's state feed agency SLAL is tendering to buy corn and soyabean meal, European traders said on Wednesday, needed to feed the country's large livestock herds as private importers struggle with trade financing due to Western sanctions.
Published 19 Apr, 2012 12:00am
Taiwan, China allow exchange of trade offices

Taiwan, China allow exchange of trade offices

Taiwan and China Wednesday began accepting applications from trade groups for the establishment of liaison offices, Taipei said, in another sign of warming ties. "Permitting the exchange of trade offices is one of the targets highlighted in the Economic C
Published 19 Apr, 2012 12:00am
Italy slashes 2012 growth forecast

Italy slashes 2012 growth forecast

Italy on Wednesday said its recession would deepen in 2012 with the economy shrinking 1.2 percent and delayed a target to balance its budget by 2013, warning there was still "a long way to go."
Published 19 Apr, 2012 12:00am
IBM boosts outlook; revenue shortfall hits shares

IBM boosts outlook; revenue shortfall hits shares

IBM's revenue fell slightly short of Wall Street expectations, sending its shares down almost 2 percent in late trade even as the company beat quarterly profit expectations and boosted its 2012 earnings target on strong software demand.
Published 19 Apr, 2012 12:00am
ARL profit after tax increases to Rs 2.611 billion

ARL profit after tax increases to Rs 2.611 billion

The profit after tax of Attock Refinery Limited (ARL) has increased to Rs 2.611 billion in the nine month period ended March 31, 2012 as compared to Rs 1.950 billion earned in the corresponding period in 2011.
Published 19 Apr, 2012 12:00am
ARL profit after tax increases to Rs 2.611 billion

ARL profit after tax increases to Rs 2.611 billion

The profit after tax of Attock Refinery Limited (ARL) has increased to Rs 2.611 billion in the nine month period ended March 31, 2012 as compared to Rs 1.950 billion earned in the corresponding period in 2011.
Published 19 Apr, 2012 12:00am
NRL profit after tax declines to Rs 2.163 billion

NRL profit after tax declines to Rs 2.163 billion

The profit after taxation of National Refinery Limited (NRL) has declined to Rs 2.163 billion in the nine-month period ended on March 31, 2012 as compared to Rs 4.845 billion earned in the corresponding period in 2011.
Published 19 Apr, 2012 12:00am
NRL profit after tax declines to Rs 2.163 billion

NRL profit after tax declines to Rs 2.163 billion

The profit after taxation of National Refinery Limited (NRL) has declined to Rs 2.163 billion in the nine-month period ended on March 31, 2012 as compared to Rs 4.845 billion earned in the corresponding period in 2011.
Published 19 Apr, 2012 12:00am
30 suspected criminals held

30 suspected criminals held

South Range police on Wednesday arrested 30 suspected criminals and recovered weapons, jewellery, drugs and other valuables. The operation against criminals was launched on the directives of the DIG South Range in which 30 suspects were held and 4 pistols
Published 19 Apr, 2012 12:00am
Salvaging Bhit island: fishermen urge government to step up efforts

Salvaging Bhit island: fishermen urge government to step up efforts

As fears of the overwhelmingly inhabited Bhit Islands slipping into the harbour's navigational channel, local fishermen urged the government to step up efforts for salvaging their island. Fishermen of the old Bhit island of Keamari asked the government to
Published 19 Apr, 2012 12:00am
Wapda employees stage demonstration against privatisation

Wapda employees stage demonstration against privatisation

Pakistan Wapda Hydro Electric Labour Union (CBA) staged a demonstration against the privatisation of Wapda at Hyderabad Press Club on Wednesday. The hundreds of Wapda employees staged the demonstration and chanted slogans against the privatisation of the
Published 19 Apr, 2012 12:00am
Sheikh Rashid for 'political awakening'

Sheikh Rashid for 'political awakening'

Awami Muslim League (AWM), President, Sheikh Rashid Ahmed, said on Wednesday that real change in the country would appear with "political awakening" of countrymen instead of creation of Seraiki or other provinces. While addressing a public gathering in La
Published 19 Apr, 2012 12:00am
D G Khan Cement posts profit after tax

D G Khan Cement posts profit after tax

D G Khan Cement has posted Rs 2,071.595 million as profit after tax (un-consolidated) in the nine month period ended March 31, 2012 as compared to Rs 177.249 million earned in the corresponding period in 2011. The board of directors of the company in its
Published 19 Apr, 2012 12:00am
D G Khan Cement posts profit after tax

D G Khan Cement posts profit after tax

D G Khan Cement has posted Rs 2,071.595 million as profit after tax (un-consolidated) in the nine month period ended March 31, 2012 as compared to Rs 177.249 million earned in the corresponding period in 2011. The board of directors of the company in its
Published 19 Apr, 2012 12:00am
Earth Day to be observed on April 22

Earth Day to be observed on April 22

Earth Day will be celebrated on April 22 all over the world including Pakistan. Every year, the Earth day marks the anniversary of what many consider the birth of the modern environmental movement in 1970.
Published 19 Apr, 2012 12:00am
Sitara Chemicals posts Rs 461.465 million after-tax profit

Sitara Chemicals posts Rs 461.465 million after-tax profit

The after-tax profit of Sitara Chemical Industries Limited has increased to Rs461.465 million in the nine-month period ended March 31 this year against Rs216.039 million earned in the corresponding period a year ago.
Published 19 Apr, 2012 12:00am
Sitara Chemicals posts Rs 461.465 million after-tax profit

Sitara Chemicals posts Rs 461.465 million after-tax profit

The after-tax profit of Sitara Chemical Industries Limited has increased to Rs461.465 million in the nine-month period ended March 31 this year against Rs216.039 million earned in the corresponding period a year ago.
Published 19 Apr, 2012 12:00am
Profit after tax of Al Ghazi Tractors declines

Profit after tax of Al Ghazi Tractors declines

The profit after tax of Al Ghazi Tractors Limited has declined to Rs 424.173 million in the quarter ended March 31, 2012 as compared to Rs 621.419 million earned in the corresponding quarter in 2011.
Published 19 Apr, 2012 12:00am
Profit after tax of Al Ghazi Tractors declines

Profit after tax of Al Ghazi Tractors declines

The profit after tax of Al Ghazi Tractors Limited has declined to Rs 424.173 million in the quarter ended March 31, 2012 as compared to Rs 621.419 million earned in the corresponding quarter in 2011.
Published 19 Apr, 2012 12:00am
Waheeda Shah's bail extended till April 25

Waheeda Shah's bail extended till April 25

The district and session court Hyderabad extended the bail of Syeda Wahida Shah Bukhari till April 25 in a case for violating the election laws. If proved she may be fined for Rs 1,000 as penalty or one day imprisonment.
Published 19 Apr, 2012 12:00am
Annual reunion of Old Ravians on Saturday

Annual reunion of Old Ravians on Saturday

The Old Ravians from India are coming to Pakistan to attend the annual reunion of Old Ravians Union (ORU) which is going to be held on Saturday, (April 21), at Government College University Lahore Oval Ground.
Published 19 Apr, 2012 12:00am
Illegal use of official rest houses: PAC warns of action

Illegal use of official rest houses: PAC warns of action

Public Accounts Committee (PAC) Khyber Pakhtunkhwa Assembly on Wednesday warned of taking strict action against illegal utilisation of the rooms of official rest houses and decided to collect market rate based rent from the officers booking rooms for a pe
Published 19 Apr, 2012 12:00am
Prime Minister lauds services of outgoing Erra Deputy Chairman

Prime Minister lauds services of outgoing Erra Deputy Chairman

Prime Minister Syed Yousuf Raza Gilani on Wednesday lauded the services of outgoing Deputy Chairman Earthquake Reconstruction and Rehabilitation Authority (Erra), Lieutenant General Sardar Mehmood Ali Khan for carrying out effective work in the earthquake
Published 19 Apr, 2012 12:00am
YPP to hold debate on Pak-US relations today

YPP to hold debate on Pak-US relations today

Youth Parliament Pakistan (YPP) will meet on Thursday to hold parliamentary debates on relations between Pakistan and United States of America. Former Pakistan ambassador to United States, Riaz Khokhar will address the youth parliament, which consists of
Published 19 Apr, 2012 12:00am
Abbottabad Commission records Hoti's statement

Abbottabad Commission records Hoti's statement

Inquiry Commission on Abbottabad Operation held a detailed interactive session with Chief Minister, Khyber Pakhtunkhwa, Ameer Haider Khan Hoti here on Wednesday.
Published 19 Apr, 2012 12:00am
Rally condemns unrest in Gilgit-Baltistan

Rally condemns unrest in Gilgit-Baltistan

While protesting against the recent killings in Gilgit-Baltistan, scores of people on the call of Shia Ulema Council marched towards the Parliament House on Wednesday. The rally started from Markazi Imam Bargah in Sector G-6/2 and culminated near Parliame
Published 19 Apr, 2012 12:00am
Sri Lankan, Iranian delegations visit PSF

Sri Lankan, Iranian delegations visit PSF

Sri Lankan and Iranian delegations, which are in Pakistan to participate in the second Commission Meeting of Comsats, paid a visit to Pakistan Science Foundation (PSF) head offices separately on Wednesday.
Published 19 Apr, 2012 12:00am
KP government, Telenor sign MoU

KP government, Telenor sign MoU

Khyber Pakhtunkhwa government and Telenor Pakistan signed a Memorandum of Understanding (MoU) for joint collaboration in dissemination of swift and timely information to small growers through mobile network regarding prices, floods alerts, advocacy for yi
Published 19 Apr, 2012 12:00am
US hosts seminar on technology

US hosts seminar on technology

US Deputy Chief of Mission Ambassador Richard Hoagland commended Pakistan for the deregulation of its Information Communications Technology (ICT) sector on Wednesday during a conference hosted by the US Embassy's Commercial Section.
Published 19 Apr, 2012 12:00am
Tour of Bangladesh team a historic moment: Chairman PCB

Tour of Bangladesh team a historic moment: Chairman PCB

Terming the coming tour of Bangladesh cricket team to Pakistan "a historic moment in Pakistan cricket", Chairman, Pakistan Cricket Board, Chaudhry Zaka Asrhaf expressed the optimism to have similar international events in near future as well.
Published 19 Apr, 2012 12:00am
Pakistan yet to submit security plan to ICC

Pakistan yet to submit security plan to ICC

The Pakistan Cricket Board has not yet submitted its security plan to the ICC for next week's brief visit by Bangladesh for two matches in Lahore. "The report is delayed, but I hope it will be dispatched today," PCB chairman Zaka Ashraf said on Wednesday.
Published 19 Apr, 2012 12:00am
Final countdown begins to London Games

Final countdown begins to London Games

Kew Gardens on an English spring morning will host the first in a series of celebrations on Wednesday to commemorate the 100 days' countdown to the London Olympics. An oak tree will be planted to mark Britain's role in the birth of the modern Olympic move
Published 19 Apr, 2012 12:00am
Last-gasp Adelaide spare Aussie blushes

Last-gasp Adelaide spare Aussie blushes

A last-gasp winner lifted Adelaide United to the top of their group and spared Australian blushes in the AFC Champions League on Wednesday. Bruce Djite's 90th-minute header handed the 2008 runners-up a 1-0 win over South Korea's Pohang Steelers and made u
Published 19 Apr, 2012 12:00am
Late Gomez strike gives Bayern victory over Real

Late Gomez strike gives Bayern victory over Real

Striker Mario Gomez pounced from close range in the final minute to give Bayern Munich a 2-1 victory over Real Madrid in the first leg of their Champions League semi-final on Tuesday. Gomez converted Philipp Lahm's low cross to hand Bayern a slender lead
Published 19 Apr, 2012 12:00am
Djokovic, Nadal make Monte Carlo third round

Djokovic, Nadal make Monte Carlo third round

World number one Novak Djokovic and defending champion Rafael Nadal reached the Monte Carlo Masters third round after straightforward victories on Wednesday in the season's first big claycourt tournament. Nadal beat Finland's Jarkko Nieminen 6-4 6-3 while
Published 19 Apr, 2012 12:00am
Training camp for Azlan Shah Cup commences

Training camp for Azlan Shah Cup commences

The training camp for national hockey team will start on Thursday here at Naseer Bunda Hockey Stadium to prepare for this year's Sultan Azlan Shah Hockey Cup, scheduled to take place in the Malaysian city of Ipoh from May 24 to June 3. Players started ass
Published 19 Apr, 2012 12:00am
Julien asks young players to follow Younis, Misbah and Hafeez

Julien asks young players to follow Younis, Misbah and Hafeez

Pakistan cricket team fielding coach Julien Fountain on Wednesday said young players should follow the footsteps of Younis Khan, Misbah-ul-Haq and Muhammad Hafeez as their role models. "Around the world people tend to follow their role models mostly crick
Published 19 Apr, 2012 12:00am
Lyon puts Australia in charge

Lyon puts Australia in charge

A spell of five for sixteen by Australian off-spinner Nathan Lyon put Australia in charge at Queen's Park Oval at the end of the third day of the second Test in the West Indies on Tuesday. It was the first time that Lyon had taken five wickets in an innin
Published 19 Apr, 2012 12:00am
Australia 40 for two

Australia 40 for two

Australia were 40 for two at lunch on the fourth morning of the second Test against West Indies at Queen's Park Oval on Wednesday, a lead of 94. Seamer Kemar Roach, who took five wickets in the first innings, got rid of opener David Warner (17) and Shane
Published 19 Apr, 2012 12:00am
Prices move both ways on grain market

Prices move both ways on grain market

Prices moved both ways on the wholesale grain market on Wednesday in process of modest trading, dealers said. On the seeds side, grams Australia shed Rs 100 to Rs 7000-7300, grams Dall Australia followed suit, ;losing Rs 300 to Rs 8200-8500, gams 50x50 wa
Published 19 Apr, 2012 12:00am
Oil cake market rates

Oil cake market rates

Upward trend was seen on the forward cottonseed oilcake market on Wednesday in process of trading, dealers said. The May vaida closed at Rs 785.90, but opened with a sharp rise of Rs 1.30 to Rs 787.20, the July contract closed at Rs 849.50 and it also pic
Published 19 Apr, 2012 12:00am
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