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May 17, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2010-05-18
US MIDDAY: copper falls

US MIDDAY: copper falls

US copper futures fell to a 1-1/2-week low early on Monday, as the dollar strengthened and broader market concerns persisted about the European debt crisis and its potential impact on global economic recovery. Copper for July delivery plunged 7.30 cents,
Published 18 May, 2010 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

US gold futures rose early on Monday as lingering sovereign debt risks and volatile currency markets triggered safe-haven demand. COMEX June gold up $5.80 at $1,233.60 an ounce at 11:34 pm EDT (1534 GMT). Ranged from $1,223.70 to $1,242.80. June contract
Published 18 May, 2010 12:00am
Yarn export: VAT sector demands ban or increase RD

Yarn export: VAT sector demands ban or increase RD

Value-added textile sector on Monday demanded of the government to impose complete ban or increase the rate of regulatory duty on export of yarn from 15 percent to 30 percent. However, Aptma, Textile Spinning sector and Karachi Cotton Association have dem
Published 18 May, 2010 12:00am
Tarbela Dam being kept empty to store Hunza River's floodwaters

Tarbela Dam being kept empty to store Hunza River's floodwaters

The authorities are keeping the Tarbela Dam on river Indus empty to store the water of landslide-dam formed over Hunza river due to a devastating landslide that occurred on 4th January 2010, which may burst at any time, official sources told Business R
Published 18 May, 2010 12:00am
SHO among five policemen hurt as rocket explodes

SHO among five policemen hurt as rocket explodes

Five police officials including SHO Shalkot police station were wounded when a rocket exploded during its defusing, here on Monday. Local police officials said a bomb disposal squad accompanied by Shalkot police officials were defusing a rocket, which had
Published 18 May, 2010 12:00am
Musharraf was not the only architect of NRO: S M Zafar

Musharraf was not the only architect of NRO: S M Zafar

Veteran politician and eminent jurist Senator S.M. Zafar has said that the former President Pervez Musharraf was not the only architect of "National Reconciliation Ordinance" (NRO), as there were several others.
Published 18 May, 2010 12:00am
Lack of quorum mars Senate proceedings

Lack of quorum mars Senate proceedings

The government had to face embarrassment in Senate due to lack of quorum and the house was adjourned for half an hour to complete the required number of Senators. Soon after the recitation from the Holy Qura'an, PML-Q senator Sardar Jamal Laghari pointed
Published 18 May, 2010 12:00am
Wrongly declared motorcycle parts consignments detained

Wrongly declared motorcycle parts consignments detained

Directorate General, Intelligence and Investigation (DGI&I)-FBR, Karachi has detained two consignments of motorcycle auto parts, which were deliberately mis-declared by the importer to evade Rs 3.60million duty and taxes.
Published 18 May, 2010 12:00am
'Militancy cannot be tackled through guns only'

'Militancy cannot be tackled through guns only'

Participants of a daylong conference suggested that the issue of militancy could not be tackled through guns only so the state would have to make concrete efforts to bring peace in the areas where war is being fought. The consultation titled 'The Way Forw
Published 18 May, 2010 12:00am
Statement about NRO architect: I was misquoted, clarifies Prime Minister

Statement about NRO architect: I was misquoted, clarifies Prime Minister

Prime Minister Syed Yousuf Raza Gilani has said that his statement about the architect of National Reconciliation Ordinance (NRO) was misquoted. Talking to media after addressing the World Telecom Day here on Monday at a local hotel, the Prime Minister cl
Published 18 May, 2010 12:00am
Gender Crime and Ladies Complaint Units to be set up

Gender Crime and Ladies Complaint Units to be set up

Islamabad Police will establish Gender Crime Units and Ladies Complaint Units at different police stations under Gender Responsive Policing Project (GRPP) funded by German Government. As a pilot project first Gender Crime Unit will be set up in Ramna Poli
Published 18 May, 2010 12:00am
Parliament urged to give permanent status to PAC

Parliament urged to give permanent status to PAC

The speakers at PINA Seminar on the Role of Audit in Financial Discipline held in Lahore on Monday called upon the parliament to give permanent status to Public Accounts Committee as that of the speaker and it should have an independent secretariat with n
Published 18 May, 2010 12:00am
President briefed about ongoing projects in Sindh

President briefed about ongoing projects in Sindh

Sindh Cabinet on Monday called on President Asif Ali Zardari at the Chief Minister House. Sindh Chief Minister Syed Qaim Ali Shah and other Ministers gave briefing to the President on the projects of their respective departments. Sindh Governor Dr Ishrat-
Published 18 May, 2010 12:00am
Illegal immigrants in US

Illegal immigrants in US

In response to my letter dated April 25 to national and international media and law makers, the number of 'Law Makers of the US' (both Democrats and Republicans) very graciously apprised me, as given below, of their stand and action on illegal immigration
Published 18 May, 2010 12:00am
Fayyad causes Fatah headache in West Bank

Fayyad causes Fatah headache in West Bank

Anybody would be forgiven for thinking Salam Fayyad a politician on the campaign trail. Hardly a day goes by without the Palestinian prime minister touring a town or village to meet and greet the public. His efforts are bearing fruit. Even some of Fayyad'
Published 18 May, 2010 12:00am
Democracy in need of an overhaul

Democracy in need of an overhaul

The pet line of democracy lovers is that even the worst of it is better than any other governance system. In reality though, all governance systems are flawed; democracy is only the least flawed of them. But the way the 'exemplary' democracies performed i
Published 18 May, 2010 12:00am
USA's Afghan strategy and Pakistan

USA's Afghan strategy and Pakistan

Afghan President Hamid Karzai has been in the US to discuss the progress of Washington's new strategy, which aims at the reintegration of the Taliban foot soldiers through monetary and other incentives, and reconciliation with the leadership.
Published 18 May, 2010 12:00am
Understanding our predicament

Understanding our predicament

The International Monetary Fund is neither a pushover, nor is known for its charitable attitude. In fact, it is usually very strict in dealing with its developing member countries and terminates its facilities whenever any violation of agreed conditionali
Published 18 May, 2010 12:00am
Automobile makers foresee bleak future

Automobile makers foresee bleak future

The present economic scenario for automobile car manufacturers does not seem very encouraging and bright. According to Pakistan Automobile Manufacturer Association (PAMA), since the local automobile manufacturing plants are a key source of employment gene
Published 18 May, 2010 12:00am
Demand for hike in fares: Karachi transporters to go on strike on May 25

Demand for hike in fares: Karachi transporters to go on strike on May 25

The city transporters have announced to observe a complete wheel-jam strike on May 25 if Sindh government did not issue a notification for increase in public transport fares by May 24, 2010. This was decided at a meeting of Karachi Transport Ittehad (KTI)
Published 18 May, 2010 12:00am
ABL assigned Ba3 GLC rating by Moody's

ABL assigned Ba3 GLC rating by Moody's

Moody's Investors Service has assigned Ba3/Not-Prime global local currency (GLC) deposit ratings, B3/Not-Prime foreign currency deposit ratings and a D- bank financial strength rating (BFSR) to Allied Bank Limited. All ratings carry a stable outlook.
Published 18 May, 2010 12:00am
KCR project: 're-lending' issue hampering approval

KCR project: 're-lending' issue hampering approval

The Karachi Circular Railway (KCR) project, is likely to be approved by President Asif Ali Zardari shortly, is feared not to be implemented if it is approved without solving the issue of "re-lending" of around $1.58 billion by the Japanese government.
Published 18 May, 2010 12:00am
Petition seeking disqualification: LHC issues notice to MNA for May 31

Petition seeking disqualification: LHC issues notice to MNA for May 31

The Lahore High Court (LHC) on Monday issued notice to MNA Amir Yar for May 31, in a petition challenging his academic degrees. The petitioner Muhammad Arshad Pirzada, a voter of the same constituency NA-184, Bahawalpur, through his counsel Aftab Ahmad Ba
Published 18 May, 2010 12:00am
Rally demands release of Dr Aafia

Rally demands release of Dr Aafia

Pasban Pakistan staged a demonstration in front of Multan Press Club under the leadership of Umar Mughal, organiser of Pasban. Participants were carrying placards and banners inscribed with slogans," Release Dr Aafia Siddiqui, Daughter of Pakistan is stil
Published 18 May, 2010 12:00am
'Pakistan to overcome its economic problems soon'

'Pakistan to overcome its economic problems soon'

An American writer and intellectual, David Albert Westbrook has said Pakistan will be able to resolve its economic problems in near future. "I am optimistic about the future of Pakistan and as a professor at a University in the US I would like to study th
Published 18 May, 2010 12:00am
Smeda assures agriculture, livestock body of support

Smeda assures agriculture, livestock body of support

Small and Medium Enterprises Development Authority (Smeda) Chief Executive Officer, Shahid Rashid Monday assured the Federation of Pakistan Chambers of Agriculture that the authority would continue its support to develop the agriculture and livestock sect
Published 18 May, 2010 12:00am
Government evolves strategy to reduce mother-child mortality rate

Government evolves strategy to reduce mother-child mortality rate

Federal Minister for Population Welfare Dr Firdous Ashiq Awan has said a strategy has been evolved to reduce mother-child mortality rate in the country. In an interview with Business Recorder here on Monday she disclosed that three mega projects wo
Published 18 May, 2010 12:00am
Consumers in urban areas face power outages of 10 hours daily

Consumers in urban areas face power outages of 10 hours daily

After a brief spell, it is back to usual way for consumers as power outages once again soared from 8 to 10 hours daily in urban areas. For the last 24 hours, loadshedding has once again increased substantially amid rising mercury level. Nevertheless, the
Published 18 May, 2010 12:00am
Qayyum Jatoi refuses to withdraw resignation

Qayyum Jatoi refuses to withdraw resignation

Federal Minister for Defence Production Abdul Qayyum Khan Jatoi, who has resigned from the federal cabinet after defeat of the Pakistan People's Party (PPP) candidate in the by-elections on Saturday from the constituency belonging to his district, has ref
Published 18 May, 2010 12:00am
Schools to take part in tree plantation ceremony

Schools to take part in tree plantation ceremony

Around 40 schools have signed up to take part in special tree planting ceremony under the Azme Alishan Initiative, designed to symbolise a commitment to build better and bright future of the nation.
Published 18 May, 2010 12:00am
Shujaat condoles death of Rana Iqbal's mother

Shujaat condoles death of Rana Iqbal's mother

Pakistan Muslim League-Q President Chaudhry Shujaat Hussein condoled with Acting Punjab Governor/ Speaker Punjab Assembly Rana Muhammad Iqbal, the sad demise of his mother, at the Governor House Monday.
Published 18 May, 2010 12:00am
Multanites experience hottest day

Multanites experience hottest day

Multanites experienced the hottest days of the current summer on Sunday and Monday with the mercury touching 45.2 degree Celsius, forcing the Multanites to stay inside their homes and avoid unnecessarily coming on roads.
Published 18 May, 2010 12:00am
SECP files criminal complaint against brokerage house

SECP files criminal complaint against brokerage house

The Securities and Exchange Commission of Pakistan (SECP) has filed a criminal complaint in the competent court of law against Capital One Equities Limited, ex-member Karachi Stock Exchange (KSE) along with its directors, officers and persons allegedly in
Published 18 May, 2010 12:00am
Media should maintain an impartial status: minister

Media should maintain an impartial status: minister

Minister of State for Information and Broadcasting, Syed Samsam Ali Bukhari has said that media should not be a party, but it should be a party of Pakistan. Discussions are always fruitful because these are full of diversity of thoughts, which enable us t
Published 18 May, 2010 12:00am
Taseer denies holding of profitable office

Taseer denies holding of profitable office

Punjab Governor Salman Taseer through his counsel on Monday informed the Lahore High Court (LHC) that he was not holding any profitable office and the allegations of indulging him in political activities were baseless.
Published 18 May, 2010 12:00am
VAT refund under ERS: FBR to conduct 'Post Refund Audit' of each claim

VAT refund under ERS: FBR to conduct 'Post Refund Audit' of each claim

The Federal Board of Revenue (FBR) will initially conduct "Post-Refund Audit" of each refund claim of Value Added Tax (VAT) under the Expeditious Refund System (ERS) for direct deposit of refund into the taxpayer bank account. Sources told Business Rec
Published 18 May, 2010 12:00am
Dr Aafia's abduction: LHC seeks interior ministry's stance by May 27

Dr Aafia's abduction: LHC seeks interior ministry's stance by May 27

The Lahore High Court (LHC) here Monday called report from the interior ministry till May 27 in a petition seeking directions to federal government to help Dr Aafia Siddiqui. The petitioner Iqbal Jafree submitted that Dr Aafia was kidnapped along with her
Published 18 May, 2010 12:00am
Cloudy weather, thundershowers predicted for Lahore

Cloudy weather, thundershowers predicted for Lahore

The provincial capital was still in the grip of sizzling weather on Monday where the maximum temperature was 41 Celsius degrees, while the met office has forecast partly cloudy weather with a chance of thundershowers. The minimum temperature at night was
Published 18 May, 2010 12:00am
Government decides to authorise Nadra to issue arms licences

Government decides to authorise Nadra to issue arms licences

The government has decided in principle to authorise the National Database and Registration Authority (Nadra) to issue arms licences following the Interior Ministry's failure to handle the issue in a transparent manner, it has learnt here on Monday. Inter
Published 18 May, 2010 12:00am
US diplomats call on PBIT chairman

US diplomats call on PBIT chairman

A delegation of American diplomats comprising Economic Officer US Consulate, Jessica Berlow and educationist David A Westbrook called on Consultant to Chief Minister Punjab on Economic Affairs and Vice Chairman/CEO Punjab Board of Investment and Trade (PB
Published 18 May, 2010 12:00am
Prime Minister advised to sell plots to overseas Pakistanis

Prime Minister advised to sell plots to overseas Pakistanis

Pakistan Muslim League-Nawaz (PML-N) senior leader Senator Ishaq Dar has written a letter to the Prime Minister through leader of the house in Senate urging that proposed housing scheme for the parliamentarians in Islamabad over an area of 1440 Kanals in
Published 18 May, 2010 12:00am
Taliban leader Maviya surrenders

Taliban leader Maviya surrenders

A self-acclaimed chief of Tahreek-e-Taliban Saraiki (TTS) Hanif Gabol alias Maviya surrendered before the Mianwali police, a private news channel reported on Monday. Police sources said that Hanfi Gabol belonged to Choti area of Dera Ghazi Khan. He joined
Published 18 May, 2010 12:00am
LHC issues notices to Secretary petroleum, SNGPL

LHC issues notices to Secretary petroleum, SNGPL

The Lahore High Court (LHC) here on Monday issued notices to secretary petroleum and Sui Northern Gas Pipeline Limited (SNGPL) in a writ petition challenging the loadshedding of CNG in violation of agreement signed between petitioner and the government.
Published 18 May, 2010 12:00am
'VAT to create more problems for businesses'

'VAT to create more problems for businesses'

Pakistan Motherland Party (PMP) will bring economic revolution to restore pride and dignity of Pakistan, Muhammad Akbar Chairman Pakistan Motherland Party said on Monday. He said that women participation, real education, research and application of modern
Published 18 May, 2010 12:00am
MoC accused of manipulating duty waiver on sugar

MoC accused of manipulating duty waiver on sugar

The Ministry of Commerce is accused of manipulating the removal of 25 percent customs duty on imported raw sugar without taking the Ministry of Food and Agriculture (Minfa) into confidence. Raw sugar itself is unfit for human consumption and as per Pakist
Published 18 May, 2010 12:00am
'Universities' ranking makes a lot of improvement'

'Universities' ranking makes a lot of improvement'

The Deans of the University of Sindh have said that the ranking among the Universities has made a lot of improvement within the Universities and proposed the ranking of the public sector Universities under discipline wise between subject matching Universi
Published 18 May, 2010 12:00am
IMF to hold teleconference today

IMF to hold teleconference today

International Monetary Fund (IMF) is holding a teleconference on Tuesday (today) on the conclusion of the fourth review of Pakistan's Stand-By Arrangement (SBA). The Assistant Director of the IMF Middle East and Central Asia Department and Mission Chief f
Published 18 May, 2010 12:00am
Etihad signs code-share deal with Olympic Air

Etihad signs code-share deal with Olympic Air

Etihad Airways customers in Pakistan and around the world will soon be able to fly to two of Greece's leading holiday destinations as well as Romania and Bulgaria for the first time, following the signing of a new code-share agreement with Olympic Air.
Published 18 May, 2010 12:00am
EU finances euro 40 million food security project in Pakistan

EU finances euro 40 million food security project in Pakistan

Food and Agriculture Organisation liaison and operation head, Ms Ariella F Glinni said that the European Union (EU) is financing a project worth Euro 40 million to combat rising food prices in Pakistan, aiming to improve the food security for over 1 milli
Published 18 May, 2010 12:00am
MQM opposes imposition of VAT

MQM opposes imposition of VAT

-Muttahida Qaumi Movement (MQM) has strongly opposed the imposition of the value-added tax (AVT) and asked the government to generate additional revenue by imposing agricultural income tax on feudalists and landlords. Dr Abdul Kadir Khanzada said while ta
Published 18 May, 2010 12:00am
Barclays announces Mohsin's departure

Barclays announces Mohsin's departure

Barclays Pakistan has announced the departure of its Managing Director and Country Head, Mohsin Nathani, who plans to pursue other opportunities after working at Barclays for three years. Mohsin was integral in setting up the bank's operations in Pakistan
Published 18 May, 2010 12:00am
The Weather

The Weather

The weather report on Monday (May 17, 2010) and the forecast for Tuesday (May 18, 2010).

Published 18 May, 2010 12:00am
Key stock and currency market movements

Key stock and currency market movements

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).

Published 18 May, 2010 12:00am
Jimmy's exhibition attracts art lovers

Jimmy's exhibition attracts art lovers

The major solo art exhibition of Pakistani artist Jimmy Engineer titled "For the eyes only" is drawing big crowd of those interested in high quality of paintings at the Revivers Galleria in Gulberg. The much awaited major cultural activity of big solo pai
Published 18 May, 2010 12:00am
Need to evolve mechanism to translate research into practice

Need to evolve mechanism to translate research into practice

Government College University Lahore Academic Planning and External Links Department Monday organised the first ever seminar on "Enterprising Research through University-Industry Portal (UIP)" in collaboration with Lahore Chamber of Commerce and Industry
Published 18 May, 2010 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 18 May, 2010 12:00am
Punjab, Sichuan universities ink MoU to boost ties

Punjab, Sichuan universities ink MoU to boost ties

A Memorandum of Understanding (MoU) was signed between Punjab University and Sichuan University-one of the three largest and oldest Chinese varsities-to promote co-operation for special training, researches and mutual exchange of faculty and students dele
Published 18 May, 2010 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 18 May, 2010 12:00am
Three-day health symposium at QAU commences

Three-day health symposium at QAU commences

A three-day national symposium "Current trends in cellular, medical and environmental physiology" was kicked up here on Monday with the aim to bring closer the scientists, providing them a platform to share their knowledge and experience.
Published 18 May, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (May 17, 2010).

Published 18 May, 2010 12:00am
Railways has fuel stock for only three days

Railways has fuel stock for only three days

Pakistan Railways (PR) fuel stock will exhaust in the next 2 to 3 days and it will be unable to ply the trains on existing routes, informed sources revealed exclusively to Business Recorder. Sources in the Railway Ministry revealed to Business R
Published 18 May, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (May 17, 2010).

Published 18 May, 2010 12:00am
MoWP seeks Rs 53 billion for 4500 megawatts Diamer Basha dam

MoWP seeks Rs 53 billion for 4500 megawatts Diamer Basha dam

Ministry of Water and Power (MoWP) has requested the Finance Ministry and Planning Commission to earmark Rs 53 billion for 4500MW Diamer Basha dam in the upcoming budget 2010-11, Business Recorder has learnt. In budget 2009-10, government had earma
Published 18 May, 2010 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (May 17, 2010).

Published 18 May, 2010 12:00am
Three killed in firing

Three killed in firing

Three persons including a woman and a seven-year-old boy were killed in firing by a group of armed men at village Ghulam Rasool Jatoi in the jurisdiction of Rustam police station on late Sunday night. According to police report reached here on Monday, a g
Published 18 May, 2010 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Monday (May 17, 2010) and for Tuesday (May 18, 2010)
Published 18 May, 2010 12:00am
Police bust outlaws gang, arrest three

Police bust outlaws gang, arrest three

CIA Police Iqbal Town have arrested three accused involved in street crime, dacoity, robbery and theft, besides recovering cash, mobile phone and illegal weapons from them. The accused confessed to committing as many as 9 incidents of street crimes in the
Published 18 May, 2010 12:00am
Over a dozen hurt in two student groups' clash

Over a dozen hurt in two student groups' clash

More than dozen students were injured during a violent clash between two student groups in Federal Urdu University of Arts, Science and Technology (FUUAST) here on Monday. Both groups resorted to aerial firing on each other, but timely action of law enfor
Published 18 May, 2010 12:00am
Seven million people die of hypertension disease yearly in world

Seven million people die of hypertension disease yearly in world

Dr Saeedul Majeed, convenor Pakistan Hypertension League, Peshawar said that hypertension is deadliest disease of the world taking the lives of 7 million people annually in the world. Addressing a free medical camp held in connection with World Hyper-Tens
Published 18 May, 2010 12:00am
Irish trainers conduct workshops at UHS

Irish trainers conduct workshops at UHS

A team of facilitators and trainers from Ireland is conducting two workshops at University of Health Sciences (UHS). A spokesman of UHS said on Monday that the main objectives of these workshops were to train participants from all over the provinces of Pa
Published 18 May, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (May 17, 2010).

Published 18 May, 2010 12:00am
Hypertension: a silent killer: World Hypertension Day observed

Hypertension: a silent killer: World Hypertension Day observed

Speakers at different functions held in connection with "World Hypertension Day" observed here on Monday like other parts of the world called for adopting healthy lifestyle to check rising burden of diseases. More than one billion people are suffering fro
Published 18 May, 2010 12:00am
Fehmida Mirza meets UAE Speaker

Fehmida Mirza meets UAE Speaker

UAE and Pakistan enjoyed extremely close and fraternal relations based on common faith, traditions, deep-rooted cultural affinities, geographic proximity and identity of interests. This was stated by Dr Fehmida Mirza, Speaker National Assembly during her
Published 18 May, 2010 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (May 17, 2010).

Published 18 May, 2010 12:00am
Pakistan wants long-term relations with EU: Qureshi

Pakistan wants long-term relations with EU: Qureshi

Foreign Minister Shah Mehmood Qureshi has said that Pakistan wants long-term relations with the European Union (EU) and the forthcoming EU conference about Pakistan would further strengthen political and economic relations with the EU. The Foreign Ministe
Published 18 May, 2010 12:00am
Man killed over petty matter

Man killed over petty matter

A man shot dead one Qaiser Shah in Bani Gala in outskirts of Islamabad and managed to escape. Bara Kahu Police Station registered a case against the murderer Ishaq Khan, but he was not arrested till filing of this report. According to eye-witnesses Qaiser
Published 18 May, 2010 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Monday (May 17, 2010).

Published 18 May, 2010 12:00am
One gunned down in Noshki

One gunned down in Noshki

One person was killed while another sustained serious injuries when unknown armed men opened fire at their vehicle near Noshki on Monday. Local police said the victims identified as Shaan and Junaid, residents of Karachi, were on their way to Quetta from
Published 18 May, 2010 12:00am
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