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Archive - 2012-04-20
No hope of survivors in plane crash
Top News

No hope of survivors in plane crash

ISLAMABAD: Up to 130 people are feared dead after a Boeing 737 crashed while trying to land in bad weather near the Isla
Published 20 Apr, 2012 04:37pm
25 bodies shifted to PIMS
Top News

25 bodies shifted to PIMS

ISLAMABAD: At least 25 bodies retrieved from the debris of the crashed passenger plane have been shifted to the Pakistan
Published 20 Apr, 2012 04:30pm
DG CAA orders inquiry into plane crash
Top News

DG CAA orders inquiry into plane crash

KARACHI: The Director General of Civil Aviation Authority (CAA), Captain Nadeem Yousuf Zia, has ordered an inquiry into
Published 20 Apr, 2012 04:29pm
ISE-10 sheds 18 points
Markets

ISE-10 sheds 18 points

ISLAMABAD: The Islamabad Stock Exchange (ISE-10) on Friday witnessed bearish trend as the index was down by 18.70 points
Published 20 Apr, 2012 03:33pm
RECORDER REPORT: KSE close of day
Top News

RECORDER REPORT: KSE close of day

KARACHI : Profit taking in late hours mainly by local investors minimized the intra-day gains and the benchmark KSE -10
Published 20 Apr, 2012 03:07pm
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 14,004.36 with a positive change of 74.8
Published 20 Apr, 2012 10:04am
Tokyo stocks down 0.42pc
Financial

Tokyo stocks down 0.42pc

TOKYO: Tokyo stocks fell 0.42 percent on Friday morning following drops on Wall Street and in Europe after US unemployme
Published 20 Apr, 2012 06:13am
Oil prices mixed in Asian trade
Energy

Oil prices mixed in Asian trade

SINGAPORE: Oil was mixed in Asian trade on Friday as market cheer over a successful Spanish bond sale was offset by down
Published 20 Apr, 2012 06:07am
Pakistan Oilfields Limited
BR Research

Pakistan Oilfields Limited

This time around, Pakistan Oilfields Limited posted results in line with the market consensus estimates. The market had forecasted growth in
Published 20 Apr, 2012 12:00am
Engro Foods shines
BR Research

Engro Foods shines

The first quarterly results for Engro Foods this year showed a remarkable growth in the companys revenues and margins, surpassing analysts e
Published 20 Apr, 2012 12:00am
UBL to install ATM on GCU premises

UBL to install ATM on GCU premises

The United Bank Limited (UBL) has announced establishing a model branch at the Government College University (GCU) Lahore and installing two high-quality ATM machines on the university premises. The announcement was made by UBL Group Head Sales Ali Husani
Published 20 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 Thursday (April 19, 2012).

Published 20 Apr, 2012 12:00am
Lahore police directed to ensure arrest of most wanted criminals

Lahore police directed to ensure arrest of most wanted criminals

Lahore Police have been directed to remain vigilant under prevalent circumstances, against miscreants and saboteurs, besides taking concrete steps to ensure arrest of dangerous criminals listed in the black book. This was stated in a written order letter
Published 20 Apr, 2012 12:00am
Post-mortem analysis rejected: JSQM to hold strike tomorrow

Post-mortem analysis rejected: JSQM to hold strike tomorrow

The Jeay Sindh Qaumi Mahaz (JSQM) on Thursday rejected Bashir Khan Qureshi's post-mortem report compiled by a health department committee and announced to hold a peaceful strike across the province on April 21, (tomorrow).
Published 20 Apr, 2012 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Thursday (April 19, 2012).

Published 20 Apr, 2012 12:00am
Nawaz for holding talks with India

Nawaz for holding talks with India

Pakistan Muslim League-Nawaz (PML-N) President Nawaz Sharif said on Thursday that Pakistan should take initiative for holding talks with India for the resolution of Siachen issue.
Published 20 Apr, 2012 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Thursday (April 19, 2012) and for Friday (April 20, 2012).
Published 20 Apr, 2012 12:00am
FTO calls for reviewing all customs tariff headings

FTO calls for reviewing all customs tariff headings

Federal Tax Ombudsman (FTO) Dr Muhammad Shoaib Suddle has recommended the Federal Board of Revenue (FBR) to review the entire Pakistan Customs Tariff (PCT) of 2011-2012 in the upcoming budget (2012-2013) to correct vague PCT headings for accurately assess
Published 20 Apr, 2012 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Thursday (April 19, 2012).

Published 20 Apr, 2012 12:00am
CJCSC calls on President

CJCSC calls on President

Chairman Joint Chiefs of Staff Committee (CJCSC), General, Khalid Shameem Wyne, on Thursday called on President Asif Ali Zardari at the Aiwan-e-Sadr. professional matters pertaining to the armed forces came under discussion during the meeting, according t
Published 20 Apr, 2012 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 20 Apr, 2012 12:00am
Promotions: Kayani likely to call meeting next week

Promotions: Kayani likely to call meeting next week

Chief of Army Staff Ashfaq Parvez Kayani is likely to call a corps commander's meeting next week to consider the promotion of two-star generals. According to defence sources said as many as six most senior two-star generals are in line to get promotions t
Published 20 Apr, 2012 12:00am
LME official prices

LME official prices

The following were Wednesday official prices.

Published 20 Apr, 2012 12:00am
Call for protecting rights of children

Call for protecting rights of children

Advisor to Chief Minister Punjab, Begum Zakiya Shahnawaz has said that children are a precious national asset and protection of their rights is responsibility of the government. She was speaking at the launching ceremony of the project of protection of ri
Published 20 Apr, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (April 19, 2012).

Published 20 Apr, 2012 12:00am
Transfer orders: LHC dismisses petition of doctor

Transfer orders: LHC dismisses petition of doctor

Chief Justice Lahore High Court while dismissing a petition of a doctor Azjar observed that posting and transfer of doctors was entirely an administrative matter of government and the court would not interfere in it. Petitioner Dr Azhar of Jinnah Hospital
Published 20 Apr, 2012 12:00am
The Weather

The Weather

The weather report on Thursday (April 19, 2012) and the forecast for Friday (April 20, 2012).

Published 20 Apr, 2012 12:00am
Traders' issues to be resolved on priority basis: DCO

Traders' issues to be resolved on priority basis: DCO

District Co-ordination Officer (DCO) Lahore, Noor-ul-Amin Mengal has said that he will solve the issues faced by traders on priority basis; decisions regarding markets will be taken with their consultation. He expressed these views while addressing a rece
Published 20 Apr, 2012 12:00am
Javed terms PTI's Quetta rally successful, historical

Javed terms PTI's Quetta rally successful, historical

Makhdoom Javed Hashmi President of Pakistan Tehrik-e-Insaf has said that in spite of unfair weather, tense situation and state on uncertainty, the Quetta rally was successful and historical and PTI would eliminate the corrupt, incapable rulers with their
Published 20 Apr, 2012 12:00am
Roadmap of school reforms in Punjab yields positive results

Roadmap of school reforms in Punjab yields positive results

Punjab Chief Minister Muhammad Shahbaz Sharif has said that implementation of the roadmap of school reforms and promotion of education in the province has yielded positive results. He was addressing at the universal enrolment campaign 2012 in the province
Published 20 Apr, 2012 12:00am
PTI will end drone strikes if voted to power: Alvi

PTI will end drone strikes if voted to power: Alvi

Pakistan Tehreek-e-Insaf (PTI) is optimistic that the party will get rid of drone strikes in tribal areas of the country if voted to power through perseverance and sincerity of purpose for a long-lasting solution to the issue. Talking to Business Recor
Published 20 Apr, 2012 12:00am
Jamaat-e-Islami expresses concern over killings in Karachi

Jamaat-e-Islami expresses concern over killings in Karachi

Secretary General Jamaat-e-Islami Pakistan, Liaqat Baloch has expressed his deep concern over the target killings of several people in Karachi and held the coalition government of Sindh responsible for worsening law and order situation in the city. Accord
Published 20 Apr, 2012 12:00am
Zardari, Gilani discuss law and order situation

Zardari, Gilani discuss law and order situation

Prime Minister, Syed Yousuf Raza Gilani on Thursday called on President Asif Ali Zardari and discussed law and order situation in the country. In a meeting held at the Aiwan-e-Sadr, incidents of violence in Gilgit-Baltistan, Karachi, Balochistan and the B
Published 20 Apr, 2012 12:00am
Drug authority law likely to lapse next month

Drug authority law likely to lapse next month

There is a likelihood that the Drug Regulatory Agency Ordinance (DRAO) would lapse by next month as it has not yet been presented in the National Assembly since its promulgation on February 16 this year. Criticising government inaction in this regard, sou
Published 20 Apr, 2012 12:00am
Low water efficiency: scientists warn of food insecurity

Low water efficiency: scientists warn of food insecurity

Agri scientists warned that low irrigated water efficiency in Pakistan can push the country on the verge of food insecurity if tangible steps were not taken. They were addressing the inaugural session of training programme about demonstration and dissemin
Published 20 Apr, 2012 12:00am
Old Ravians from India due today

Old Ravians from India due today

The Old Ravians from India will reach Pakistan on Friday (today) through Wahga Border to attend the annual reunion of the Old Ravians Union which is going o be held at the Government College University Lahore Oval Ground on Saturday night (tomorrow).
Published 20 Apr, 2012 12:00am
NGOs providing primary healthcare to poor people

NGOs providing primary healthcare to poor people

Former Member of Provincial Assembly (MPA) and Leader of Pakistan Muslim League-Nawaz (PML-N) Chaudhry Tanveer Khan said civil society organisations are playing a vital role in providing primary health care to the poor of the country. He was speaking as a
Published 20 Apr, 2012 12:00am
Jamaat-e-Islami condemns federal cabinet expansion

Jamaat-e-Islami condemns federal cabinet expansion

Jamaat-e-Islami, Ameer, Syed Munawar Hasan, has strongly condemned the expansion of federal cabinet and has term the induction of new ministers and secretaries would put an extra burden on the national ex-chequer. In a press statement issued on Thursday h
Published 20 Apr, 2012 12:00am
IPO launches programme to develop linkages with business organisations

IPO launches programme to develop linkages with business organisations

Intellectual Property Organisation (IPO) has launched a programme to develop linkages with business organisations in the country including small and medium enterprises (SMEs) with the objective to provide the required facilities to business community for
Published 20 Apr, 2012 12:00am
'Pak-India trade ties strengthening'

'Pak-India trade ties strengthening'

Chief Co-ordinator, Pakistan Hosiery Manufacturers and Exporters Association (PHMA) North Zone Chaudhry Salamat Ali has said that Pak-India trade relations are strengthening and recent visit of Pakistani trade delegation of Faisalabad industrialists and e
Published 20 Apr, 2012 12:00am
'Energy crisis, inflation discouraging investors'

'Energy crisis, inflation discouraging investors'

Non-availability of electricity and gas, absence of long-term policies and fluctuation in prices has discouraged the foreign investors and they are exploring new avenues for making investment, said President of Multan Chamber of Commerce & Industry (MCCI)
Published 20 Apr, 2012 12:00am
Textile sector: ICCI lauds exemption from loadshedding

Textile sector: ICCI lauds exemption from loadshedding

The Islamabad Chamber of Commerce and Industry (ICCI) on Thursday hailed PEPCO decision to exempt textile sector from power loadshedding and demanded that the facility should be extended to all industries. Addressing a meeting here, ICCI President Yassar
Published 20 Apr, 2012 12:00am
Tahir Basharat Cheema appointed Chairman EMC

Tahir Basharat Cheema appointed Chairman EMC

The Federal government has appointed former Managing Director Pakistan Electric Power Company (Pepco), Tahir Basharat Cheema as Chairman of Energy Management Cell (EMC) to manage load shedding in the country. According to the notification, the EMC would b
Published 20 Apr, 2012 12:00am
ICT admin pressurising DHR to end protest camp

ICT admin pressurising DHR to end protest camp

The Islamabad Capital Territory (ICT) administration is now engaged in using various tactics to pressurise Defence of Human Rights (DHR) to end their protest camp from outside National Press Club (NPC). It has already banned protests around D Chowk citing
Published 20 Apr, 2012 12:00am
Punjab Finance department approves 30 vacancies

Punjab Finance department approves 30 vacancies

Punjab Finance Department has given approval for 30 vacancies in Punjab Women Development Department and also released budget of Rs 1.508 million for the current fiscal year.
Published 20 Apr, 2012 12:00am
CAA employees get 25 percent raise in perks

CAA employees get 25 percent raise in perks

Ministry of Defence has notified an increase in the salaries of the employees of the civil aviation authority (CAA) up to 25 percent with immediate effect. According to detail, 20 percent increase has been given to officers and 25 percent pay increase to
Published 20 Apr, 2012 12:00am
Moroccan judicial team calls on CJ LHC

Moroccan judicial team calls on CJ LHC

A delegation led by Moroccan Chief Justice, called on Lahore High Court Chief Justice Sheikh Azmat Saeed and discussed matters of mutual interest here on Thursday. The delegation included Chief Justice Morocco Mustafa Faress, President of Chamber at the C
Published 20 Apr, 2012 12:00am
Hazara administration reviews security arrangements by prisons

Hazara administration reviews security arrangements by prisons

Divisional administration of Hazara Division has decided to make recommendations through provincial government for the shifting of the terrorists and hardcore criminal prisoners of other provinces to their own provinces and directed the authorities of Cen
Published 20 Apr, 2012 12:00am
Lack of data integrity

Lack of data integrity

There is an increasing number of instances where the integrity of data is obviously not being maintained. There are limited numbers of data sources in the country notably the State Bank of Pakistan and the Ministry of Finance and its allied divisions. Dis
Published 20 Apr, 2012 12:00am
IP gas pipeline: to begin or not to begin

IP gas pipeline: to begin or not to begin

Iranian Vice President Mohammad Javed Mohammadizadeh during his meeting with Prime Minister Yousuf Raza Gilani on the sidelines of the Forum for Asia being held in Boao China, categorically placed the ball for implementation of the Iran-Pakistan gas pipel
Published 20 Apr, 2012 12:00am
Terrorism and money laundering

Terrorism and money laundering

This paper was presented at the International Judicial Conference, held in Islamabad from April 13-15 by the Law and Justice Commission of Pakistan. "Money laundering and the financing of terrorism are financial crimes with economic effects. They can thre
Published 20 Apr, 2012 12:00am
Thar coal - II

Thar coal - II

As discussed in Part I of this series, Nepra has solicited comments on upward front tariff of coal projects. We have mentioned earlier that mention of Thar coal has been meticulously avoided and that the enquiry appears to be essentially for imported coal
Published 20 Apr, 2012 12:00am
New missile test underlines uneasy ties between Asian giants

New missile test underlines uneasy ties between Asian giants

India's successful test of its nuclear-capable intercontinental missile was followed by uncharacteristic emotion from defence scientists at the launch site - they cheered, flashed victory signs and some jubilantly carried the mission directors on their sh
Published 20 Apr, 2012 12:00am
They fail us again

They fail us again

The much-trumpeted National Energy Conference held recently in Lahore, with the Prime Minister presiding over and participated by the Chief Ministers of all provinces and the Federal Ministers concerned among others.
Published 20 Apr, 2012 12:00am
KESC prepares plan for rains

KESC prepares plan for rains

The Karachi Electric Supply Company has prepared a comprehensive rain preparedness plan and advised the general public to follow maximum safety measures during the predicted heavy rains and storm in the metropolis. Public awareness on rain hazards, reinfo
Published 20 Apr, 2012 12:00am
Sindh funding devolved hospitals: Dr Saghir

Sindh funding devolved hospitals: Dr Saghir

The provincial health ministry has been providing budget to devolved hospitals for past several months, besides coping with measures, including hikes in doctors, paramedical staff and nurses' salaries and stipends, Sindh's Health Minister Dr Saghir Ahmed
Published 20 Apr, 2012 12:00am
KU notification

KU notification

The University of Karachi has extended the date for submission of admission forms for M Phil/PhD/MS/MD till April 23. Convenor Post Graduate Admission Committee Professor Shahana Urooj Kazmi announced on Thursday that the admission forms can be submitted
Published 20 Apr, 2012 12:00am
KPT planning to raise pilots' salary

KPT planning to raise pilots' salary

The Karachi Port Trust (KPT) is planning to raise the salary package of its pilots in line with global shipping standards to attract qualified applicants, officials told Business Recorder on Thursday. Terming pilots' job difficult, officials said t
Published 20 Apr, 2012 12:00am
PTA expands broadband network to China, Iran, Afghanistan

PTA expands broadband network to China, Iran, Afghanistan

Pakistan Telecommunication Authority has stretched its broadband network to China, Iran and Afghanistan, said (PTA) Chairman, Dr Muhammad Yasin, on Thursday. He was speaking at 5th Pakistan Telecommunication conference 2012 on 'Riding the ware of Technolo
Published 20 Apr, 2012 12:00am
Two kidnapped persons recovered

Two kidnapped persons recovered

Levies Force has recovered two abductees and took the bikes of the kidnappers into its custody in Kalat district. Levies sources said on Thursday that unidentified gunmen riding bikes kidnapped two persons from Tok area and were taking them to unidentifie
Published 20 Apr, 2012 12:00am
Philips receives good response at IAPEX expo

Philips receives good response at IAPEX expo

Philips, a market leader in energy efficient lighting solutions and applications, cardiac care, acute care and home healthcare, as well as lifestyle products for personal well-being and pleasure, showcased its innovative LED lamps, range of consumer lumin
Published 20 Apr, 2012 12:00am
'Bright prospects exist for export of Kinnow to Indonesia'

'Bright prospects exist for export of Kinnow to Indonesia'

Bright prospects exist for the export of Pakistani Kinnow to Indonesia after the signing of Preferential Trade Agreement (PTA) between the two countries recently. Chief Executive Officer, Harvest Trading, Ahmad Jawad told Business Recorder that tra
Published 20 Apr, 2012 12:00am
PCDMA, CDSIA sign MoU

PCDMA, CDSIA sign MoU

The Pakistan Chemicals and Dyes Merchants' Association (PCDMA) and China Dye Stuff Industry Association (CDSIA) signed a Memorandum of Understanding (MoU) during the 'Inderdye 2012' exhibition held recently in Shangai. The MoU was signed by former chairma
Published 20 Apr, 2012 12:00am
Call to implement decisions on trade with Iran

Call to implement decisions on trade with Iran

Director Pak-Iran Business Council of FPCCI and Chief Executive, Iran-Pak Wind Power (Pvt) Limited, Khurram Sayeed has emphasised trade with Iran in local currency, immediate start of barter trade with Iran and opening of Iranian bank branches in Pakistan
Published 20 Apr, 2012 12:00am
Size of mutual fund industry declines eight percent on MoM basis

Size of mutual fund industry declines eight percent on MoM basis

The size of the local mutual funds industry recorded a decline of eight percent on month-on-month basis during March 2012, settling at Rs 330 billion (dollars 3.63 billion), down from Rs 360 billion (dollars 3.96 billion) a month ago, analysts said.
Published 20 Apr, 2012 12:00am
Size of mutual fund industry declines eight percent on MoM basis

Size of mutual fund industry declines eight percent on MoM basis

The size of the local mutual funds industry recorded a decline of eight percent on month-on-month basis during March 2012, settling at Rs 330 billion (dollars 3.63 billion), down from Rs 360 billion (dollars 3.96 billion) a month ago, analysts said.
Published 20 Apr, 2012 12:00am
APL posts Rs 3.147 billion profit after tax

APL posts Rs 3.147 billion profit after tax

Attock Petroleum Limited (APL) has posted Rs 3.147 billion as profit after tax in nine month period ended March 31, 2012 as compared to Rs 2.752 billion earned in the corresponding period in 2011. The board of directors of the company in its meeting held
Published 20 Apr, 2012 12:00am
Attock Cement profit after tax increases to Rs 878.164 million

Attock Cement profit after tax increases to Rs 878.164 million

The profit after taxation of Attock Cement Pakistan Limited has increased to Rs 878.164 million in the nine-month period ended on March 31, 2012 as compared to Rs 425.276 million in the corresponding period in 2011. The Board of Directors of the company i
Published 20 Apr, 2012 12:00am
Attock Cement profit after tax increases to Rs 878.164 million

Attock Cement profit after tax increases to Rs 878.164 million

The profit after taxation of Attock Cement Pakistan Limited has increased to Rs 878.164 million in the nine-month period ended on March 31, 2012 as compared to Rs 425.276 million in the corresponding period in 2011. The Board of Directors of the company i
Published 20 Apr, 2012 12:00am
18 criminals held

18 criminals held

Karachi Police arrested 18 criminals from different parts of the metropolis in an attempt to curb various crimes from the city on Thursday. Police recovered 10 pistols, a hand grenade, dagger and snatched cell phones along with other valuables from posses
Published 20 Apr, 2012 12:00am
Journalist's health

Journalist's health

The Sindh Minister for Fisheries Zahid Ali Bhurgri, Senior Vice President PPP Amanullah Siyal, President PPP Qasimabad Iqbal Soomro on Thursday visited the residence of senior Journalist Sarfraz Vistro who had been seriously injured by gun attacked on Mar
Published 20 Apr, 2012 12:00am
By-polls in PS-53 on April 26

By-polls in PS-53 on April 26

The Election Commission of Pakistan has decided that poll for by-elections in constituency number PS-53 Tando Muhammad Khan-cum-Hyderabad (old Hyderabad-XI) will be held from 08:00 am to 05:00 pm, without any interval, on April 26.
Published 20 Apr, 2012 12:00am
Wheat crop area decreased by 2.53 percent during 2010-11

Wheat crop area decreased by 2.53 percent during 2010-11

The area of wheat crop under cultivation decreased by 2.53 percent during 2010-2011 over the previous year largely due to problems faced by the farmers in terms of disposal of wheat produced in 2009-2010, shifting of area to cotton and sugarcane crops in
Published 20 Apr, 2012 12:00am
FWBL posts pre-tax profit of Rs 400 million

FWBL posts pre-tax profit of Rs 400 million

Financial year 2011 proved to be a year of record performance for First Women Bank Ltd (FWBL) as bank posted a pre-tax profit of Rs 400 million. Total Deposits of the bank increased from Rs 10,195 million to Rs 13,815 million while total advances portfoli
Published 20 Apr, 2012 12:00am
FWBL posts pre-tax profit of Rs 400 million

FWBL posts pre-tax profit of Rs 400 million

Financial year 2011 proved to be a year of record performance for First Women Bank Ltd (FWBL) as bank posted a pre-tax profit of Rs 400 million. Total Deposits of the bank increased from Rs 10,195 million to Rs 13,815 million while total advances portfoli
Published 20 Apr, 2012 12:00am
Pakistan Oilfields' after-tax profit surges to Rs 9.32 billion

Pakistan Oilfields' after-tax profit surges to Rs 9.32 billion

The after-tax profit of Pakistan Oilfields Limited (POL) increased to Rs 9.329 billion in the nine month period ended March 31, 2012 against Rs 7.838 billion earned in the corresponding period last year. The company's board of directors, who held a meetin
Published 20 Apr, 2012 12:00am
Pakistan Oilfields' after-tax profit surges to Rs 9.32 billion

Pakistan Oilfields' after-tax profit surges to Rs 9.32 billion

The after-tax profit of Pakistan Oilfields Limited (POL) increased to Rs 9.329 billion in the nine month period ended March 31, 2012 against Rs 7.838 billion earned in the corresponding period last year. The company's board of directors, who held a meetin
Published 20 Apr, 2012 12:00am
EFL profit after tax increases to Rs 485.899 million

EFL profit after tax increases to Rs 485.899 million

The profit after tax of Engro Foods Limited (EFL) has increased to Rs 485.899 million in the quarter ended March 31, 2012 as compared to Rs 117.260 million earned in the corresponding quarter in 2011. The company's board of directors in its meeting declar
Published 20 Apr, 2012 12:00am
EFL profit after tax increases to Rs 485.899 million

EFL profit after tax increases to Rs 485.899 million

The profit after tax of Engro Foods Limited (EFL) has increased to Rs 485.899 million in the quarter ended March 31, 2012 as compared to Rs 117.260 million earned in the corresponding quarter in 2011. The company's board of directors in its meeting declar
Published 20 Apr, 2012 12:00am
Fauji Fertiliser's profit after tax reduces to Rs 3.875 billion

Fauji Fertiliser's profit after tax reduces to Rs 3.875 billion

The profit after tax of Fauji Fertiliser Company (FFC) has reduced to Rs 3.875 billion in the quarter ended March 31, as compared to Rs 4.108 billion earned in the corresponding period in 2011. The company's earning per share stood at Rs 3.05 in the perio
Published 20 Apr, 2012 12:00am
Fauji Fertiliser's profit after tax reduces to Rs 3.875 billion

Fauji Fertiliser's profit after tax reduces to Rs 3.875 billion

The profit after tax of Fauji Fertiliser Company (FFC) has reduced to Rs 3.875 billion in the quarter ended March 31, as compared to Rs 4.108 billion earned in the corresponding period in 2011. The company's earning per share stood at Rs 3.05 in the perio
Published 20 Apr, 2012 12:00am
Non-availability of funds delays Thar coal project

Non-availability of funds delays Thar coal project

The government is likely to extend the deadline for the completion of Thar-Coal Underground Coal Gasification (UGC) project due to non-availability of funds. According to sources in the Ministry of Petroleum and Natural Resources, the Block-5 (64sq km) of
Published 20 Apr, 2012 12:00am
Rainfall with gusty winds likely in Balochistan

Rainfall with gusty winds likely in Balochistan

Scattered rain/dust-thunderstorm hit Balochistan and parts of Punjab, Khyber Pukhtunkhwa and Kashmir in the last 24 hours, Met office said on Thursday. In the fresh advisory, the office said "a well marked westerly wave still persists over north-western p
Published 20 Apr, 2012 12:00am
35 Pakistanis deported from Iran

35 Pakistanis deported from Iran

Iranian Border Force officials had handed over 35 Pakistani deportees to officials of Pakistani Border Force in Taftan. Levies sources said on Thursday that Iranian police had arrested 35 Pakistani labourers who were living in Iran despite expiry of their
Published 20 Apr, 2012 12:00am
US MIDDAY: gold falls

US MIDDAY: gold falls

Gold eased on Thursday as European debt jitters and worries over the US job market extended the metal's losses for a fifth consecutive day. Silver prices ended higher, as the head of metals research firm Thomson Reuters GFMS said silver sales for industri
Published 20 Apr, 2012 12:00am
US MIDDAY: copper eases

US MIDDAY: copper eases

In New York, the May COMEX contract eased 0.35 cent to settle at $3.6275 per lb, after dealing between $3.5975 and $3.6550. Copper found early support from optimism for more Chinese monetary easing after a report by China's official Xinhua news agency sai
Published 20 Apr, 2012 12:00am
US MIDDAY: corn, wheat rally

US MIDDAY: corn, wheat rally

US corn and wheat rallied off three-month lows on Thursday, lifted by talk of China buying US corn, after grains slid sharply during the previous session. Soyabeans also rose on Chinese export demand after the US Department of Agriculture reported a fresh
Published 20 Apr, 2012 12:00am
US MIDDAY: gold climbs in Europe

US MIDDAY: gold climbs in Europe

Gold rose back above $1,640 an ounce on Thursday, recovering from an earlier dip that took the metal to its weakest in 10 days, as the euro's bounce into positive territory encouraged some investors to buy back into the metal at lower prices. Lacklustre U
Published 20 Apr, 2012 12:00am
Gold falls in Asia

Gold falls in Asia

Gold edged lower on Thursday, as investors stood on the sidelines and awaited a key Spanish debt auction later in the day amid worries the euro zone debt crisis could flare up again. Spot gold inched down 0.1 percent to $1,639.46 an ounce by 0627 GMT. US
Published 20 Apr, 2012 12:00am
Gold stays down in New York

Gold stays down in New York

Gold fell on Wednesday for a fourth session, its longest losing streak this year, as lacklustre physical demand from major Asian consumers and weak crude oil prices sent prices lower in quiet trade. The metal, which has tended to follow equities and riski
Published 20 Apr, 2012 12:00am
Coffee up, sugar falls

Coffee up, sugar falls

Arabica coffee futures consolidated just above an 18-month low on Thursday, as many roasters sat on the sidelines and producers hoped for higher prices, while raw sugar fell to an 11-month low, bringing the May/July spread to a four-month low. Cocoa futur
Published 20 Apr, 2012 12:00am
Palm oil lower

Palm oil lower

Malaysian palm oil futures closed slightly lower on Thursday, recouping most of their losses after Spain sold as many bonds as it wanted, which helped calm fears about the euro zone economy but concerns about slowing demand kept prices lower. Benchmark Ju
Published 20 Apr, 2012 12:00am
Grains tumble

Grains tumble

US grain futures tumbled on Wednesday, with wheat and corn each falling to a three-month low, in tandem with many other commodities as investors cut their exposure in risk assets in favour of safe havens like the dollar. Grains were under additional press
Published 20 Apr, 2012 12:00am
Tokyo rubber futures slip

Tokyo rubber futures slip

Key TOCOM rubber futures ended slightly lower after falling as much as 2.5 percent on Thursday, reversing the previous session's sharp gains, as investors avoided risk ahead of a closely watched Spanish bond auction. The key Tokyo Commodity Exchange rubbe
Published 20 Apr, 2012 12:00am
Brent pares gains

Brent pares gains

Brent crude oil futures gave back most early gains on Wednesday, as weak US economic data stoked fresh oil demand worries. Brent rose in early trade bouncing back from a recent price slump, as investors grew less worried about the euro zone on news of str
Published 20 Apr, 2012 12:00am
Copper steadies

Copper steadies

Copper steadied on Thursday consolidating after recent sharp losses following good corporate earnings in the U.S, although concerns remained after a slew of poor US data and a bond auction in Spain failed to dispel worries over Europe's debt. Three-month
Published 20 Apr, 2012 12:00am
Shanghai copper down

Shanghai copper down

The most-active July copper contract on the Shanghai Futures Exchange shed 0.3 percent to 57,670 yuan ($9,100) a tonne on Thursday, after gaining more than 2 percent in the previous session. "Copper prices haven't moved much as everyone takes on a wait-an
Published 20 Apr, 2012 12:00am
New York cotton remains higher

New York cotton remains higher

Cotton futures closed mostly higher for the third straight session on Thursday on investor buying as positions in the spot May contract were liquidated ahead of first notice day for deliveries next week, analysts said. The July cotton contract on the ICE
Published 20 Apr, 2012 12:00am
Doctors save life of baby with six legs

Doctors save life of baby with six legs

Doctors say they have successfully operated to save the life of a baby born with six legs due to a rare genetic condition, hospital officials said Thursday. "A team of five experienced doctors have successfully separated the extra legs and limbs from the
Published 20 Apr, 2012 12:00am
Citi, LUMS collaborating to bolster academia-industry linkages

Citi, LUMS collaborating to bolster academia-industry linkages

Citi Pakistan and the Social Enterprise Development Centre, LUMS are collaborating on a capacity building project, which aims to create stronger linkages between higher education institutions and the industry. This project is supported by a $50,000 grant
Published 20 Apr, 2012 12:00am
Power sector debt repayment: eight IPPs serve demand notices on PPIB

Power sector debt repayment: eight IPPs serve demand notices on PPIB

Eight Independent Power Producers (IPPs) which had invoked GoP guarantees a month ago, lodged a protest, saying no action had yet been taken for clearing their dues, sources in Ministry of Water and Power told Business Recorder on Thursday. They ar
Published 20 Apr, 2012 12:00am
Debate series: 'UN-led initiative key to peace in Afghanistan'

Debate series: 'UN-led initiative key to peace in Afghanistan'

A UN-led initiative can bring sustainable peace in Afghanistan, but developing a consensus among all groups and economic viability are prerequisites to guaranteeing the war-torn country's neutral status. This was the consensus of speakers who spoke in an
Published 20 Apr, 2012 12:00am
HBL Asset Management declares third interim dividend

HBL Asset Management declares third interim dividend

HBL Money Market Fund, HBL Income Fund and HBL Islamic Money Market Fund declare third interim dividend for year ending June 30, 2012. The Board of Directors of HBL Asset Management Limited and the Management Company of HBL Money Market Fund, HBL Income F
Published 20 Apr, 2012 12:00am
HBL Asset Management declares third interim dividend

HBL Asset Management declares third interim dividend

HBL Money Market Fund, HBL Income Fund and HBL Islamic Money Market Fund declare third interim dividend for year ending June 30, 2012. The Board of Directors of HBL Asset Management Limited and the Management Company of HBL Money Market Fund, HBL Income F
Published 20 Apr, 2012 12:00am
'3153 schemes of village electrification completed'

'3153 schemes of village electrification completed'

Sindh Govern-ment has completed 3153-schemes of village electrification at the cost of Rs 3.15 billion during the financial years of 2007-08 to 2011-12. This was briefed by Additional Chief Secretary (P&D) during a meeting held at Chief Minister's Hosue h
Published 20 Apr, 2012 12:00am
Fake ST registration: office boy, driver detained

Fake ST registration: office boy, driver detained

An intelligence wing of the Federal Board of Revenue (FBR) was caught in an embarrassing situation because of lack of physical verification for sales tax registration when it detained an office boy and a driver on charges of evading taxes worth Rs 72.92 m
Published 20 Apr, 2012 12:00am
Nadra Sindh centres to complete electoral rolls on war footing

Nadra Sindh centres to complete electoral rolls on war footing

Director General Sindh Brigadier Zahid Hussain (Retd) has announced that Nadra Sindh has deputed its resources to complete data entry for Election Commission of Pakistan (ECP) till 30th April 2012. However, total 13 out of 46 Nadra Centres of Karachi City
Published 20 Apr, 2012 12:00am
Hearing adjourned

Hearing adjourned

A two-member bench of the Supreme Court on Thursday adjourned the indictment of former law minister Babar Awan till April 24.
Published 20 Apr, 2012 12:00am
EU parliament approves air passengers data-sharing deal with US

EU parliament approves air passengers data-sharing deal with US

A controversial agreement allowing the United States access to data of passengers flying in from the European Union, including their payment details and dietary preferences, was finally approved on Thursday after it received the consent of the European Pa
Published 20 Apr, 2012 12:00am
Nato calls on China, Russia to help fund Afghan forces

Nato calls on China, Russia to help fund Afghan forces

The head of Nato called on China and Russia on Thursday to help fund Afghan security after 2014, as the alliance tries to rally contributions from a wider range of sources before most foreign combat troops pull out of Afghanistan.
Published 20 Apr, 2012 12:00am
Sun journalist held in British corruption probe

Sun journalist held in British corruption probe

A journalist from Britain's best-selling The Sun newspaper, reportedly its royal editor, was arrested Thursday on suspicion of illegally paying public officials, police said. The 36-year-old journalist was held in a dawn swoop at his home in Kent, souther
Published 20 Apr, 2012 12:00am
Russia blames TNK-BP for massive oil leaks

Russia blames TNK-BP for massive oil leaks

Russia's environment minister on Thursday blamed Russian-British oil company TNK-BP for causing massive oil pollution in a resource-rich Siberian region and failing to invest in its infrastructure. "We looked at TNK-BP's activities, because... they operat
Published 20 Apr, 2012 12:00am
Karzai calls for early transition after US scandal

Karzai calls for early transition after US scandal

Afghan President Hamid Karzai called Thursday for an "accelerated" transition of security responsibilities from Nato forces in the wake of a scandal over US troops abusing Afghan corpses. "The only way to put an end to such painful experiences is through
Published 20 Apr, 2012 12:00am
Disgruntled French set to vote out Sarkozy

Disgruntled French set to vote out Sarkozy

Voters look set to turn their backs on conservative Nicolas Sarkozy in Sunday's first round of an election that could give France its first left-wing president in 17 years just as fears resurface over Europe's sovereign debt crisis.
Published 20 Apr, 2012 12:00am
Hollande urges large turnout

Hollande urges large turnout

Socialist presidential frontrunner Francois Hollande urged his supporters to turn out en masse to vote in Sunday's first election round, warning that abstention helped the far-right eliminate the left from the same contest 10 years ago. Hollande, tipped i
Published 20 Apr, 2012 12:00am
Goal was to kill entire Norwegian government: Breivik

Goal was to kill entire Norwegian government: Breivik

Anders Behring Breivik told a court Thursday he meant to kill the entire Norwegian government, including the prime minister, in his bomb attack in the centre of Olso last July. "The aim of the attack on the government buildings ... was to kill the entire
Published 20 Apr, 2012 12:00am
Iraq attacks kill 37

Iraq attacks kill 37

A wave of apparently co-ordinated bombing and shooting attacks in seven different provinces across Iraq killed at least 37 people and wounded more than 160 on Thursday, security officials said. It was the deadliest day in Iraq since March 20, when shootin
Published 20 Apr, 2012 12:00am
Japan 'no longer rich country' by 2050

Japan 'no longer rich country' by 2050

Japan could fall out of the league of developed nations by 2050 as a shrinking and greying population as well as slowing productivity make its economy contract, a think tank has warned. The 21st Century Public Policy Institute said a dwindling workforce,
Published 20 Apr, 2012 12:00am
CIA wants to expand its drone plan in Yemen

CIA wants to expand its drone plan in Yemen

The United States Central Intelligence Agency wants to intensify the use of combat drones in Yemen, according to a report Thursday in The Washington Post. CIA director David Petraeus is seeking permission to hit targets in Yemen even if the agency cannot
Published 20 Apr, 2012 12:00am
Three die in Mumbai overcrowded train accident

Three die in Mumbai overcrowded train accident

Three commuters hanging onto the outside of a train in Mumbai were killed on Thursday when they were hit by an iron pole in the latest accident on India's overcrowded railways, police said. At least 12 other people on the train were injured when they fell
Published 20 Apr, 2012 12:00am
Thousands of youth remember Holocaust at Auschwitz

Thousands of youth remember Holocaust at Auschwitz

Thousands of youth from Israel, the United States and other countries marched Thursday between Auschwitz and Birkenau, the two parts of Nazi Germany's most notorious death complex, to honour the millions killed in the Holocaust. Also Thursday, Polish offi
Published 20 Apr, 2012 12:00am
Julien, Dav keen to take Pakistan to top ICC tables

Julien, Dav keen to take Pakistan to top ICC tables

Pakistan cricket team fielding coach Julien Fountain has said he along with head coach Dav Whatmore are keen to propel Pakistan to the top of the International Cricket Council (ICC) tables. "Dav and me both feel that Pakistan is capable of achieving top r
Published 20 Apr, 2012 12:00am
Violence mars Bahrain Grand Prix on eve of practice runs

Violence mars Bahrain Grand Prix on eve of practice runs

Violence marred Bahrain's controversial Grand Prix race as a fire bomb exploded near Force India team members and protesters clashed with police in the lead-up to the Formula One practice runs set to begin on Friday. Security has been beefed up ahead of S
Published 20 Apr, 2012 12:00am
Aussies make slow progress as draw looms

Aussies make slow progress as draw looms

Australia went to lunch on 123 for five as they struggled through a shortened first session on the fifth and final day of the second Test against West Indies at Queen's Park Oval on Thursday. Only 50 runs were scored in the 25 overs bowled as Australia ex
Published 20 Apr, 2012 12:00am
Chelsea and Drogba make wasteful Barca pay

Chelsea and Drogba make wasteful Barca pay

Didier Drogba scored late in the first half and Chelsea mixed luck with resolute defence to keep free-scoring Lionel Messi in check and defeat holders Barcelona 1-0 in their Champions League semi-final first leg on Wednesday. Barcelona dominated possessio
Published 20 Apr, 2012 12:00am
Pakistan joins to mark 100 days count down to London Games

Pakistan joins to mark 100 days count down to London Games

Members of Pakistan Hockey team and other leading players on Thursday joined with youth and representatives from different walks of life to mark 100 days to go to the London 2012 Games. The function was organised by British High Commission here to mark 10
Published 20 Apr, 2012 12:00am
Australian and New Zealand dollars mark time

Australian and New Zealand dollars mark time

The Australian and New Zealand dollars firmed on Thursday as hopes for an easing in China briefly lifted sentiment, though investors remain cautious ahead of a key Spanish debt auction. The Aussie marked time at $1.0352, having touched a session high of $
Published 20 Apr, 2012 12:00am
Swiss franc steadies

Swiss franc steadies

The Swiss franc was steady against the euro and the dollar in cautious early trading on Thursday ahead of a key Spanish bond auction seen as a litmus test of investor risk appetite as worries begin to re-emerge over the euro zone debt crisis. The franc wa
Published 20 Apr, 2012 12:00am
Most Asian currencies edge down

Most Asian currencies edge down

Most emerging Asian currencies edged down on Thursday, pressured by sustained worries over the euro zone debt crisis as investors keep a nervous eye on a Spanish bond sale, while the won recovered most early losses on suspected intervention. Regional unit
Published 20 Apr, 2012 12:00am
Yuan unchanged

Yuan unchanged

China's yuan edged down slightly on Thursday, guided by a weaker central bank midpoint, but the currency remained solidly in the range in which it has fluctuated since late March. Spot yuan ended at 6.3039 per dollar, 11 points weaker than Wednesday's clo
Published 20 Apr, 2012 12:00am
Indian rupee slides

Indian rupee slides

The Indian rupee slid to its weakest level in more than three months on Thursday, putting traders on alert for possible intervention from the central bank as the outlook on the currency stays bleak. The rupee closed at 52.14/52.15 to the dollar, close to
Published 20 Apr, 2012 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 81.82-81.83 (previous 81.80-81.82). Call Money Rates: 14.50-15.00 percent (previous 08.00-15.00 percent).
Published 20 Apr, 2012 12:00am
Euro remains down

Euro remains down

The euro slipped 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
Published 20 Apr, 2012 12:00am
Midafternoon trade in New York: Euro rises versus dollar, yen

Midafternoon trade in New York: Euro rises versus dollar, yen

The euro rallied against the dollar on Thursday in volatile trading, snapping two days of losses, with the single currency boosted by institutional buying to adjust short positions following generally solid Spanish bond auctions this week. News that the I
Published 20 Apr, 2012 12:00am
Euro falls in London

Euro falls in London

The euro fell against the dollar on Thursday after reasonable demand at a Spanish bond sale failed to soothe concerns about the sustainability of the country's debt, with falls in the common currency tracking widening yield spreads. Spain's Treasury issue
Published 20 Apr, 2012 12:00am
Yen dips in Asia

Yen dips in Asia

The yen inched lower on Thursday after commodity currencies briefly shot up on hopes China will soon ease policy, and as flows from Japanese importers and 'toushin' investment trusts pressured it against the US dollar, traders said. The euro is set to com
Published 20 Apr, 2012 12:00am
Sterling on a roll

Sterling on a roll

Sterling extended broad-based gains on Thursday as investors pared back expectations of further stimulus from the Bank of England, putting the currency firmly on track to rise against the euro to levels not scaled since mid-2010. The pound rose to its hig
Published 20 Apr, 2012 12:00am
Vodafone leads FTSE on M&A talk; index closes flat

Vodafone leads FTSE on M&A talk; index closes flat

Britain's blue chip share index closed flat on Thursday, as banks gave up gains after rising yields at a Spanish debt auction unnerved investors, but Vodafone Group outperformed on expectations it will make a bid for Cable & Wireless World-wide.
Published 20 Apr, 2012 12:00am
Seoul shares down

Seoul shares down

Seoul shares edged lower after a choppy, range-bound session on Thursday as investors took to the sidelines to await the results of a key Spanish debt auction. The Korea Composite Stock Price Index (KOSPI) edged down 0.23 percent to close at 1,999.86 poin
Published 20 Apr, 2012 12:00am
Southeast Asian markets: Thailand hits two-week high, others subdued

Southeast Asian markets: Thailand hits two-week high, others subdued

Thai stocks surged to a two-week high on Thursday led by banking shares but most other stock markets in the region ended flat or lower amid renewed concern over the debt crisis in the euro zone. Foreign inflow of $43.35 million also helped boost sentiment
Published 20 Apr, 2012 12:00am
European stocks hit by debt concerns, US data

European stocks hit by debt concerns, US data

European equity markets sold off on Thursday as a string of downbeat corporate outlooks and weak US data dampened expectations of an earnings recovery, while fears about the sovereign debt burden across the region added to the gloom. Markets fretted about
Published 20 Apr, 2012 12:00am
Indian shares extend gains

Indian shares extend gains

Indian shares rose for a fourth consecutive session on Thursday, as auto stocks extended a rally while Infosys recovered from recent sharp losses, though plenty of caution remains in the midst of the corporate earnings reporting season. Traders are partic
Published 20 Apr, 2012 12:00am
Treasuries move higher

Treasuries move higher

US Treasuries rose on Wednesday as the prospect of a longer-term Spanish debt auction made safe-haven US Treasuries a popular investment choice. An auction of 12- and 18-month Spanish debt overnight was considered a success, but a more challenging longer-
Published 20 Apr, 2012 12:00am
Treasuries move higher

Treasuries move higher

US Treasuries rose on Wednesday as the prospect of a longer-term Spanish debt auction made safe-haven US Treasuries a popular investment choice. An auction of 12- and 18-month Spanish debt overnight was considered a success, but a more challenging longer-
Published 20 Apr, 2012 12:00am
Taiwan stocks slightly up

Taiwan stocks slightly up

Taiwan stocks ended up 0.23 on Thursday, as gains in defensive plays such as transportation and cement amid global risk aversion outweighed losses in heavyweights HTC Corp and Hon Hai. TSMC climbed 0.47 percent. It said it will raise capital spending this
Published 20 Apr, 2012 12:00am
Wall Street slips

Wall Street slips

US stocks slipped on Wednesday, a day after Wall Street's best gains in a month, as uninspiring earnings from tech bellwethers IBM and Intel gave investors a reason to take profits. Chesapeake Energy Corp dropped 5.5 percent to $18.06 and was the most act
Published 20 Apr, 2012 12:00am
Thursday's midday trade: Wall Street down

Thursday's midday trade: Wall Street down

US stocks dipped in choppy trade on Thursday as investors grappled with uncertainty in the eurozone, a raft of corporate earnings and economic data that painted a mixed picture of the domestic recovery. The Dow Jones industrial average dropped 29.45 point
Published 20 Apr, 2012 12:00am
Nikkei retreats

Nikkei retreats

Japan's Nikkei average slipped 0.8 percent on Thursday, reversing the previous session's sharp gains as investors avoided risk ahead of a closely watched Spanish bond auction later in the day. Nippon Sheet Glass was one of the top percentage losers on the
Published 20 Apr, 2012 12:00am
Hong Kong shares at three-week high; China index flat

Hong Kong shares at three-week high; China index flat

Hong Kong shares edged up to a three-week high on Thursday as a rally in China Life and other insurers on the back of low valuations and speculation over an expansion of investment rules, helped the benchmark stock index outperform Asian peers. But gains
Published 20 Apr, 2012 12:00am
Dubai's index falls to six-week low

Dubai's index falls to six-week low

Dubai's index slipped to a six-week closing low on Thursday and other Gulf bourses also fell as investors cut positions ahead of the weekend amid uncertainty in global markets. Selling pressure in small-cap stocks led Dubai's benchmark to a fifth straight
Published 20 Apr, 2012 12:00am
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