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Print - 2008-05-03
OGDC withdraws EoI for LPG extraction plants: SHC informed

OGDC withdraws EoI for LPG extraction plants: SHC informed

Sindh High Court was told on Friday that board of directors of Oil & Gas Development Corporation in its resolution passed on April 28, 2008 resolved to set up LPG Extraction Plants in accordance with government of Pakistan LPG production and distribution
Published 03 May, 2008 12:00am
OGDC withdraws EoI for LPG extraction plants: SHC informed

OGDC withdraws EoI for LPG extraction plants: SHC informed

Sindh High Court was told on Friday that board of directors of Oil & Gas Development Corporation in its resolution passed on April 28, 2008 resolved to set up LPG Extraction Plants in accordance with government of Pakistan LPG production and distribution
Published 03 May, 2008 12:00am
NJLI Meesaq Fund Rates

NJLI Meesaq Fund Rates

New Jubilee Life Insurance Meesaq Fund Rates on Friday (May 02, 2008).

Published 03 May, 2008 12:00am
OGDC withdraws EoI for LPG extraction plants: SHC informed

OGDC withdraws EoI for LPG extraction plants: SHC informed

Sindh High Court was told on Friday that board of directors of Oil & Gas Development Corporation in its resolution passed on April 28, 2008 resolved to set up LPG Extraction Plants in accordance with government of Pakistan LPG production and distribution
Published 03 May, 2008 12:00am
NJLI Meesaq Fund Rates

NJLI Meesaq Fund Rates

New Jubilee Life Insurance Meesaq Fund Rates on Friday (May 02, 2008).

Published 03 May, 2008 12:00am
UN tribute to media warriors for Press Freedom Day

UN tribute to media warriors for Press Freedom Day

The United Nations on Friday paid tribute to those journalists who die or suffer injuries or secret detention in hostile regimes simply because they are exercising their profession. Ahead of World Press Freedom Day on Saturday, spokeswoman Marie Heuze sai
Published 03 May, 2008 12:00am
NJLI Meesaq Fund Rates

NJLI Meesaq Fund Rates

New Jubilee Life Insurance Meesaq Fund Rates on Friday (May 02, 2008).

Published 03 May, 2008 12:00am
UN tribute to media warriors for Press Freedom Day

UN tribute to media warriors for Press Freedom Day

The United Nations on Friday paid tribute to those journalists who die or suffer injuries or secret detention in hostile regimes simply because they are exercising their profession. Ahead of World Press Freedom Day on Saturday, spokeswoman Marie Heuze sai
Published 03 May, 2008 12:00am
Salman takes over as new foreign secretary today

Salman takes over as new foreign secretary today

Pakistan's Ambassador to China Salman Bashir arrived here on Friday to take up his new assignment as Foreign Secretary. He will formally assume his new responsibilities on Saturday, replacing Riaz Muhammad Khan. On his arrival at Islamabad Airport, he was
Published 03 May, 2008 12:00am
Salman takes over as new foreign secretary today

Salman takes over as new foreign secretary today

Pakistan's Ambassador to China Salman Bashir arrived here on Friday to take up his new assignment as Foreign Secretary. He will formally assume his new responsibilities on Saturday, replacing Riaz Muhammad Khan. On his arrival at Islamabad Airport, he was
Published 03 May, 2008 12:00am
Major reshuffle in bureaucracy

Major reshuffle in bureaucracy

The federal government on Friday made the second major reshuffle in top level bureaucracy by transferring/posting half dozen secretaries including the Finance Secretary, besides promoting 28 officials of grade 21 to 22. Establishment Division formally iss
Published 03 May, 2008 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (May 02, 2008).

Published 03 May, 2008 12:00am
Major reshuffle in bureaucracy

Major reshuffle in bureaucracy

The federal government on Friday made the second major reshuffle in top level bureaucracy by transferring/posting half dozen secretaries including the Finance Secretary, besides promoting 28 officials of grade 21 to 22. Establishment Division formally iss
Published 03 May, 2008 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (May 02, 2008).

Published 03 May, 2008 12:00am
Gilani, Qureshi due in Multan today

Gilani, Qureshi due in Multan today

Prime Minister Syed Yousaf Raza Gilani and Foreign Minister Makhdoom Shah Mehmood Qureshi will be accorded a rousing reception in the City on May 3, when they reach here for the first time after becoming ministers. The Prime Minister will be accompanied b
Published 03 May, 2008 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (May 02, 2008).

Published 03 May, 2008 12:00am
Donors pledge $11.3 billion to ADB to tackle poverty

Donors pledge $11.3 billion to ADB to tackle poverty

Donors to the Asian Development Bank have pledged $11.3 billion for the four years 2009 to 2012 to replenish the multi-lateral body''s key poverty alleviation fund for Asia''s poorest countries, the bank said on Friday.
Published 03 May, 2008 12:00am
Donors pledge $11.3 billion to ADB to tackle poverty

Donors pledge $11.3 billion to ADB to tackle poverty

Donors to the Asian Development Bank have pledged $11.3 billion for the four years 2009 to 2012 to replenish the multi-lateral body's key poverty alleviation fund for Asia's poorest countries, the bank said on Friday.
Published 03 May, 2008 12:00am
Donors pledge $11.3 billion to ADB to tackle poverty

Donors pledge $11.3 billion to ADB to tackle poverty

Donors to the Asian Development Bank have pledged $11.3 billion for the four years 2009 to 2012 to replenish the multi-lateral body's key poverty alleviation fund for Asia's poorest countries, the bank said on Friday.
Published 03 May, 2008 12:00am
Malaysia''s Maybank signals major acquisition

Malaysia''s Maybank signals major acquisition

Malaysia''s largest lender, Malayan Banking Bhd (Maybank), plans to announce a major acquisition on Monday amid speculation it wants to buy a strategic stake in MCB Bank. Maybank, which last month declined to comment on a newspaper report that it was in t
Published 03 May, 2008 12:00am
Malaysia's Maybank signals major acquisition

Malaysia's Maybank signals major acquisition

Malaysia's largest lender, Malayan Banking Bhd (Maybank), plans to announce a major acquisition on Monday amid speculation it wants to buy a strategic stake in MCB Bank. Maybank, which last month declined to comment on a newspaper report that it was in ta
Published 03 May, 2008 12:00am
Malaysia's Maybank signals major acquisition

Malaysia's Maybank signals major acquisition

Malaysia's largest lender, Malayan Banking Bhd (Maybank), plans to announce a major acquisition on Monday amid speculation it wants to buy a strategic stake in MCB Bank. Maybank, which last month declined to comment on a newspaper report that it was in ta
Published 03 May, 2008 12:00am
South Sudan defence minister killed in air crash

South Sudan defence minister killed in air crash

South Sudan's defence minister was killed on Friday in a plane crash along with at least 18 other people, most of them senior members of the southern former rebel leadership. Dominic Dim Deng's plane crashed some 375 kilometres from the southern capital J
Published 03 May, 2008 12:00am
South Sudan defence minister killed in air crash

South Sudan defence minister killed in air crash

South Sudan's defence minister was killed on Friday in a plane crash along with at least 18 other people, most of them senior members of the southern former rebel leadership. Dominic Dim Deng's plane crashed some 375 kilometres from the southern capital J
Published 03 May, 2008 12:00am
Al-Jazeera cameraman returns home from Guantanamo

Al-Jazeera cameraman returns home from Guantanamo

A Sudanese cameraman with the Arab satellite news channel Al-Jazeera on Friday accused US authorities of insulting Islamic symbols on his return home after six years of detention at Guantanamo Bay.
Published 03 May, 2008 12:00am
Foundation laid for $60 billion new coastal city in Ajman

Foundation laid for $60 billion new coastal city in Ajman

Ajman government and Solidere International have entered a joint venture to develop a new city 'Al Zorah' with an investment of $60 billion in the United Arab Emirates. The joint venture is aimed at developing the emirate's coastline into a sustainable re
Published 03 May, 2008 12:00am
Sost dry port starts operations

Sost dry port starts operations

Pakistan and China have re-opened border for trade and tourism at Khunjrab from May 1. According to a statement issued by the management of the Silk Route Dry Port, the port has also started its business operations with the taking over of the new manageme
Published 03 May, 2008 12:00am
UN ignored peacekeepers' abuses in Congo: HRW

UN ignored peacekeepers' abuses in Congo: HRW

United Nations investigators "ignored, minimised, or shelved" allegations of serious abuses committed by Indian and Pakistani peacekeepers in Congo, New York-based Human Rights Watch (HRW) said on Friday.
Published 03 May, 2008 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (May 02, 2008).

Published 03 May, 2008 12:00am
Dubai World launches $5 billion syndicated loan

Dubai World launches $5 billion syndicated loan

State-owned investment group Dubai World has launched syndication of a $5 billion term loan, which will be used to refinance the borrower's $5 billion, 364-day bridge loan that signed last year, a banking source said on Friday. The loan consists of a two-
Published 03 May, 2008 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (May 02, 2008).
Published 03 May, 2008 12:00am
WTO breakthrough possible in July: Uruguay envoy

WTO breakthrough possible in July: Uruguay envoy

Negotiators are making progress in world trade talks, but a goal to have trade ministers meet this month in Geneva to reach a breakthrough may be too ambitious, a senior Uruguayan diplomat said.
Published 03 May, 2008 12:00am
ISE index down 27.08 points

ISE index down 27.08 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where selling pressure intensified in hot favourite amid decrease in index. ISE-10 Index showed a decrease of 27.08 points, as it moved from 3228.38 to 3,201.30 points. The volume of tr
Published 03 May, 2008 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Friday (May 02, 2008).

Published 03 May, 2008 12:00am
ISE index down 27.08 points

ISE index down 27.08 points

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where selling pressure intensified in hot favourite amid decrease in index. ISE-10 Index showed a decrease of 27.08 points, as it moved from 3228.38 to 3,201.30 points. The volume of tr
Published 03 May, 2008 12:00am
Trading activity sluggish on LSE

Trading activity sluggish on LSE

Trade activity was sluggish on the Lahore Stock Exchange (LSE) on Friday where equities tumbled and LSE-25 index lost 29.10 points, or 0.62 percent, as people awaited the final announcement about the judges. The LSE-25 Index closed at 4619.40 points from
Published 03 May, 2008 12:00am
Trading activity sluggish on LSE

Trading activity sluggish on LSE

Trade activity was sluggish on the Lahore Stock Exchange (LSE) on Friday where equities tumbled and LSE-25 index lost 29.10 points, or 0.62 percent, as people awaited the final announcement about the judges. The LSE-25 Index closed at 4619.40 points from
Published 03 May, 2008 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Friday (May 02, 2008).

Published 03 May, 2008 12:00am
Pakistan's foreign exchange reserves fall to $12.611 billion

Pakistan's foreign exchange reserves fall to $12.611 billion

The country's foreign exchange reserves fell by $41 million to $12.611 billion in the week that ended on April 26, the State Bank of Pakistan said on Friday. Reserves held by the central bank fell to $10.367 billion from $10.447 billion a week earlier, wh
Published 03 May, 2008 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Friday (May 02, 2008).

Published 03 May, 2008 12:00am
Officials'' suspension: customs operations come to a halt

Officials'' suspension: customs operations come to a halt

Operations at all ports on Friday came to a halt due to protest by officials of Customs House against the suspension of 25 customs officials on the charges of clearing hundreds of containers without any physical examination during October 2006 to July 200
Published 03 May, 2008 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Friday (May 02, 2008).

Published 03 May, 2008 12:00am
Officials' suspension: customs operations come to a halt

Officials' suspension: customs operations come to a halt

Operations at all ports on Friday came to a halt due to protest by officials of Customs House against the suspension of 25 customs officials on the charges of clearing hundreds of containers without any physical examination during October 2006 to July 200
Published 03 May, 2008 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 03 May, 2008 12:00am
Officials' suspension: customs operations come to a halt

Officials' suspension: customs operations come to a halt

Operations at all ports on Friday came to a halt due to protest by officials of Customs House against the suspension of 25 customs officials on the charges of clearing hundreds of containers without any physical examination during October 2006 to July 200
Published 03 May, 2008 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 03 May, 2008 12:00am
Thai floats Opec-style cartel idea for rice

Thai floats Opec-style cartel idea for rice

Thailand, the world''s biggest rice exporter, said on Friday that it wants to form an Opec-style cartel with four Southeast Asian neighbours so that jointly they can have more control over the international prices of the commodity.
Published 03 May, 2008 12:00am
Thai floats Opec-style cartel idea for rice

Thai floats Opec-style cartel idea for rice

Thailand, the world's biggest rice exporter, said on Friday that it wants to form an Opec-style cartel with four Southeast Asian neighbours so that jointly they can have more control over the international prices of the commodity.
Published 03 May, 2008 12:00am
Thai floats Opec-style cartel idea for rice

Thai floats Opec-style cartel idea for rice

Thailand, the world's biggest rice exporter, said on Friday that it wants to form an Opec-style cartel with four Southeast Asian neighbours so that jointly they can have more control over the international prices of the commodity.
Published 03 May, 2008 12:00am
BRIDGE NOTES: To err is human

BRIDGE NOTES: To err is human

Blind spots in bridge arise out of human vulnerability and occur even amongst the top experts of the game. Bridge is a battle of wits between the declarer and the opponents. Both the sides know what is expected of them with their goals clearly defined.
Published 03 May, 2008 12:00am
Foreign fund managers'' earning: FBR demands Rs one billion from SBP

Foreign fund managers'' earning: FBR demands Rs one billion from SBP

The Federal Board of Revenue (FBR) has asked the State Bank of Pakistan (SBP) to collect taxes estimated around Rs one billion from its foreign funds managers and deposit with the board. Sources told Business Recorder here on Friday that SBP had hi
Published 03 May, 2008 12:00am
SPORTS WORLD: Nasim Ashraf's sins are a noose around his neck

SPORTS WORLD: Nasim Ashraf's sins are a noose around his neck

With the change of government, there are widespread rumours of a big shake-up in the Pakistan Cricket Board (PCB). PCB Chairman Dr Nasim Ashraf, who is accused of running the PCB affairs according to his whims, is among those facing the axe.
Published 03 May, 2008 12:00am
Foreign fund managers' earning: FBR demands Rs one billion from SBP

Foreign fund managers' earning: FBR demands Rs one billion from SBP

The Federal Board of Revenue (FBR) has asked the State Bank of Pakistan (SBP) to collect taxes estimated around Rs one billion from its foreign funds managers and deposit with the board. Sources told Business Recorder here on Friday that SBP had hi
Published 03 May, 2008 12:00am
Foreign fund managers' earning: FBR demands Rs one billion from SBP

Foreign fund managers' earning: FBR demands Rs one billion from SBP

The Federal Board of Revenue (FBR) has asked the State Bank of Pakistan (SBP) to collect taxes estimated around Rs one billion from its foreign funds managers and deposit with the board. Sources told Business Recorder here on Friday that SBP had hi
Published 03 May, 2008 12:00am
Sources of unexplained investment can be investigated

Sources of unexplained investment can be investigated

The repealed wealth tax levy has not been instrumental in favouring the "crème de la crème," including big industrialists and landlords, as section 111 of the Income Tax Ordinance has given ample powers to the tax officials to probe into sources of unexpl
Published 03 May, 2008 12:00am
Government's apathetic attitude towards human trafficking

Government's apathetic attitude towards human trafficking

The month of February 2008 saw focus on the issue of human trafficking, internationally as well as domestically. A forum-first of its kind was held in Vienna during February 13-15 to raise awareness of this worldwide problem. Organised by the UN Global In
Published 03 May, 2008 12:00am
Sources of unexplained investment can be investigated

Sources of unexplained investment can be investigated

The repealed wealth tax levy has not been instrumental in favouring the "crème de la crème," including big industrialists and landlords, as section 111 of the Income Tax Ordinance has given ample powers to the tax officials to probe into sources of unexpl
Published 03 May, 2008 12:00am
LITERARY NOTES: The Urdu - Hindi tangle

LITERARY NOTES: The Urdu - Hindi tangle

Ever since Jawaharlal Lal Nehru said that he did not regard Mahatma Gandhi as his political guru - while accepting him as his spiritual mentor, Ghandijee's hold on the congress began to slip away.
Published 03 May, 2008 12:00am
Sources of unexplained investment can be investigated

Sources of unexplained investment can be investigated

The repealed wealth tax levy has not been instrumental in favouring the "crème de la crème," including big industrialists and landlords, as section 111 of the Income Tax Ordinance has given ample powers to the tax officials to probe into sources of unexpl
Published 03 May, 2008 12:00am
Transforming the role of Human Resources - II

Transforming the role of Human Resources - II

Corporate Human Resources functions have always been number intensive, from calculating a payroll to preparing reports on the nature of the workforce.
Published 03 May, 2008 12:00am
BRIndex30 loses 41.74 points

BRIndex30 loses 41.74 points

On Friday, the BRIndex30 opened in the green zone, at 16,763.22, with an upward jump gap of 119.9 points, but closed down at 16,601.58, registering a net negative change of -41.74 points, or -0.25 percent. It experienced intra-day high of 16,776.89 and lo
Published 03 May, 2008 12:00am
KARACHI CHRONICLE: Safeguarding intellectual property

KARACHI CHRONICLE: Safeguarding intellectual property

Er, the title of this article is a tad bit misleading because I do not believe the copyright law safeguards the interests of the author. Also, er, because I cannot afford to buy books printed by authorised publishers.
Published 03 May, 2008 12:00am
BRIndex30 loses 41.74 points

BRIndex30 loses 41.74 points

On Friday, the BRIndex30 opened in the green zone, at 16,763.22, with an upward jump gap of 119.9 points, but closed down at 16,601.58, registering a net negative change of -41.74 points, or -0.25 percent. It experienced intra-day high of 16,776.89 and lo
Published 03 May, 2008 12:00am
Influence of Muslim thinkers on modern day science

Influence of Muslim thinkers on modern day science

Watching the daily news stories of never-ending troubles, hardship, misery and violence across the Arab world and cen-tral Asia, it is not surprising that many in the West view the culture of these countries as backward, and their religion as at best cons
Published 03 May, 2008 12:00am
Bears take control of KSE

Bears take control of KSE

Bears took complete control at the Karachi share market as the benchmark KSE-100 index lost another 165.65 points and closed below 15,000 level at 14,956.82 points on Friday. The KSE-30 index also declined by 148.49 points to close at 18,010.92 points lev
Published 03 May, 2008 12:00am
KCBT wheat futures end mostly lower

KCBT wheat futures end mostly lower

Hard red winter wheat futures on the Kansas City Board of Trade ended mostly lower on Thursday, caught up in a commodities setback in the face of a stronger dollar. The thinly traded, expiring KCBT May wheat contract ended up 1 cent at $8.65, while the mo
Published 03 May, 2008 12:00am
Bears take control of KSE

Bears take control of KSE

Bears took complete control at the Karachi share market as the benchmark KSE-100 index lost another 165.65 points and closed below 15,000 level at 14,956.82 points on Friday. The KSE-30 index also declined by 148.49 points to close at 18,010.92 points lev
Published 03 May, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 183,581 tonnes cargo including 91,987 tonnes import, 91,549 tonnes export cargo and 4,084 containers (TEUs) during last 48 hours ending at 0700 hours on Friday.
Published 03 May, 2008 12:00am
Bears take control of KSE

Bears take control of KSE

Bears took complete control at the Karachi share market as the benchmark KSE-100 index lost another 165.65 points and closed below 15,000 level at 14,956.82 points on Friday. The KSE-30 index also declined by 148.49 points to close at 18,010.92 points lev
Published 03 May, 2008 12:00am
Brazilian coffee zones to turn dry: Somar

Brazilian coffee zones to turn dry: Somar

Rains will ease in Brazil's main coffee-growing zones and cease elsewhere once Friday's showers have cleared, private weather service Somar forecast. Moderate to heavy showers should fall today in the main coffee state of Minas Gerais, which produces half
Published 03 May, 2008 12:00am