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May 18, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2014-07-05
British bond premium over Bunds hit highest since 1997

British bond premium over Bunds hit highest since 1997

The yield premium between British and German bonds reached its highest in nearly 17 years on Friday, after events this week reinforced the view that the regions are on diverging monetary policy paths. While a slew of industry surveys backed up the view th
Published 05 Jul, 2014 12:00am
British bond premium over Bunds hit highest since 1997

British bond premium over Bunds hit highest since 1997

The yield premium between British and German bonds reached its highest in nearly 17 years on Friday, after events this week reinforced the view that the regions are on diverging monetary policy paths. While a slew of industry surveys backed up the view th
Published 05 Jul, 2014 12:00am
FTSE posts strong weekly gains on optimism over global economy

FTSE posts strong weekly gains on optimism over global economy

Britain's top share index hit a 3-1/2 week closing high on Friday and recorded strong gains on the week as investors took heart from further signs of improvement in the global economy. Budget airliner easyJet rose 1 percent, a top FTSE 100 performer, afte
Published 05 Jul, 2014 12:00am
Australian shares higher

Australian shares higher

Australian shares rose 0.6 percent to one-month highs on Friday, driven by gains in most major sectors as investors cheered brisk jobs growth in the United States and another record night on Wall Street. The S&P/ASX 200 index climbed 33.8 points to 5,525
Published 05 Jul, 2014 12:00am
Hong Kong shares flat; China stocks slip

Hong Kong shares flat; China stocks slip

Hong Kong shares ended flat Friday, with profit-taking wiping out early gains that came in response to a surge in US jobs in June and a record close on Wall Street. The benchmark Hang Seng Index edged up 14.92 points to 23,546.36 on turnover of HK$53.55 b
Published 05 Jul, 2014 12:00am
Slump in Erste Bank halts European stocks rally

Slump in Erste Bank halts European stocks rally

A slump in the shares of Austrian bank Erste hit the Vienna stock exchange on Friday and halted a rally on the broader European equity market which had hit multi-year highs this week. Erste dropped by 16 percent after the bank, which is the third-biggest
Published 05 Jul, 2014 12:00am
Sri Lankan stocks climb

Sri Lankan stocks climb

Sri Lankan stocks hit their highest closing level in more than 13 months on Friday, led by market heavyweight John Keells Holdings PLC despite foreigners selling risky assets. Foreign investors were net sellers for the first time in nine sessions, offload
Published 05 Jul, 2014 12:00am
Southeast Asian markets: Thai index near one-year high

Southeast Asian markets: Thai index near one-year high

Thailand's key stock market index posted a seventh straight gain to a near one-year high on Friday as the prospects of loan demand growth lifted banking stocks, while foreign buying of selected large caps in Indonesia took the benchmark there to a more th
Published 05 Jul, 2014 12:00am
Investors punish Erste for new emerging Europe hit

Investors punish Erste for new emerging Europe hit

Investors wiped more than 1 billion euros ($1.4 billion) off Erste Group's market value and took evasive action against rivals on Friday on concerns the bank's warnings about Hungary and Romania could echo across the sector. Austria's Erste, emerging Euro
Published 05 Jul, 2014 12:00am
Investors punish Erste for new emerging Europe hit

Investors punish Erste for new emerging Europe hit

Investors wiped more than 1 billion euros ($1.4 billion) off Erste Group's market value and took evasive action against rivals on Friday on concerns the bank's warnings about Hungary and Romania could echo across the sector. Austria's Erste, emerging Euro
Published 05 Jul, 2014 12:00am
Indian rupee little changed

Indian rupee little changed

The Indian rupee was little changed on Friday as caution set in ahead of Prime Minister Narendra Modi's maiden budget, although the currency posted its biggest weekly gain in 1-1/2 months on strong foreign inflows. The Reserve Bank of India was also spott
Published 05 Jul, 2014 12:00am
Dollar up on jobs cheer in Asia

Dollar up on jobs cheer in Asia

The dollar held firm at one-week highs on Friday, having pulled sharply ahead of its peers after surprisingly strong US jobs growth added to hopes the economy is pulling out of a first quarter slump. The dollar index climbed as far as 80.315 after US empl
Published 05 Jul, 2014 12:00am
Dollar stalls, Swedish crown down in London

Dollar stalls, Swedish crown down in London

The dollar failed to make much headway on Friday after a jump in US job creation left stock markets in an optimistic mood but did not convince traders it would be a trigger for the US Federal Reserve to move toward tighter monetary policy. Sterling, not f
Published 05 Jul, 2014 12:00am
Solid US jobs data fans Asia FX

Solid US jobs data fans Asia FX

Most emerging Asian currencies rose on Friday and were on track for weekly gains after surprisingly strong US jobs data boosted risk appetites rather than cause worries that the Federal Reserve might start raising interest rates. The ringgit hit its highe
Published 05 Jul, 2014 12:00am
Dollar climbs against yen in New York

Dollar climbs against yen in New York

The dollar climbed to a two-week peak against the yen on Thursday after data showing the US economy created far more jobs than expected last month, easing worries about its health entering the second half of the year. The euro, in contrast, dipped to one-
Published 05 Jul, 2014 12:00am
Sterling index hits near-six-year high

Sterling index hits near-six-year high

Sterling hit a near-six-year high against a basket of currencies on Friday, helped by a fifth straight week of gains against the struggling dollar and against a euro weakened by fresh worries about the prospect of quantitative easing. In contrast with the
Published 05 Jul, 2014 12:00am
Aussie bulls rue tough week

Aussie bulls rue tough week

The Australian dollar was poised to end the week on a downbeat note, having slid far from an eight-month high in a choppy week - a stark contrast with the much less eventful experience of its New Zealand counterpart. The Aussie last traded at $0.9356, not
Published 05 Jul, 2014 12:00am
Sharapova targeted for cricket star Tendulkar snub

Sharapova targeted for cricket star Tendulkar snub

Outraged Indian cricket fans have left thousands of angry messages on Maria Sharapova's Facebook page after she admitted to not recognising cricket legend Sachin Tendulkar. Tendulkar, considered a demi-god in his home country and an all-time great of the
Published 05 Jul, 2014 12:00am
Pietersen still has England hope

Pietersen still has England hope

Kevin Pietersen insisted Friday he still wanted to play for England again as he urged the selectors to be "braver" with their choices for the national side. Pietersen was controversially axed by England following the team's 5-0 Ashes series loss in Austra
Published 05 Jul, 2014 12:00am
Sri Lanka bandwagon looks to flatten Proteas

Sri Lanka bandwagon looks to flatten Proteas

Sri Lanka will look to extend their red-hot winning streak onto home soil when they take on a new-look South Africa in the first of the three one-day internationals on Sunday. The hosts go into the series on the back of their first ever Test series victor
Published 05 Jul, 2014 12:00am
ICC confirms women's championship launch

ICC confirms women's championship launch

The International Cricket Council (ICC) confirmed Friday that a new championship for the world's leading women's cricket teams will start in August. Although a Test championship was proposed for the men's game, the ICC abandoned its plan in favour of reta
Published 05 Jul, 2014 12:00am
Federer crushes Raonic

Federer crushes Raonic

Roger Federer reached a ninth Wimbledon final after suppressing bullet-serving giant Milos Raonic 6-4 6-4 6-4 with a masterful display of the grasscourt arts on Friday. Chasing a record eighth title at the All England Club, Federer set up a mouthwatering
Published 05 Jul, 2014 12:00am
Djokovic downs Dimitrov in four-set thriller

Djokovic downs Dimitrov in four-set thriller

Top seed Novak Djokovic halted the grasscourt charge of talented Bulgarian Grigor Dimitrov on Friday, beating the 11th seed 6-4 3-6 7-6(2) 7-6(7) in an exhilarating see-saw contest to reach the Wimbledon final. The six-times grand slam champion had to dra
Published 05 Jul, 2014 12:00am
African champions Nigeria risk FIFA ban

African champions Nigeria risk FIFA ban

African champions Nigeria risk an international ban due to government interference after a court sacked the football federation's executive committee. Nigerian sports minister Tammy Danagogo on Thursday appointed Lawrence Katiken as sole adminstrator of t
Published 05 Jul, 2014 12:00am
Any team would depend on Messi: Argentina coach

Any team would depend on Messi: Argentina coach

When you have a player like Lionel Messi in your team why would you not lean on him to lead you to World Cup glory? Pundits and fans have been quick to lambaste Argentina's dependence on the inspirational forward to carry them to a third World Cup but coa
Published 05 Jul, 2014 12:00am
Hummel sinks France, takes Germany into semis

Hummel sinks France, takes Germany into semis

Mats Hummels headed the winner as Germany beat old rivals France 1-0 to advance to the World Cup semi-finals for a record fourth straight time on Friday. Borussia Dortmund defender Hummels rose to head home Toni Kroos's free-kick on 13 minutes to settle a
Published 05 Jul, 2014 12:00am
Rolf Harris jailed for child abuse

Rolf Harris jailed for child abuse

Veteran entertainer Rolf Harris, a household name in his native Australia and adopted home Britain, was jailed for almost six years on Friday for repeatedly abusing young girls over decades as a beloved host of children's television. Handing down the sent
Published 05 Jul, 2014 12:00am
Turkey ruling party orders official to resign for 'drinking alcohol'

Turkey ruling party orders official to resign for 'drinking alcohol'

Turkey's ruling Justice and Development Party (AKP) of Prime Minister Recep Tayyip Erdogan has ordered a senior regional party official to resign after pictures apparently showed him drinking alcohol, media reported Friday. Mustafa Celebi, the head of the
Published 05 Jul, 2014 12:00am
Erdogan rebukes footballer over 'foreign' tattoo

Erdogan rebukes footballer over 'foreign' tattoo

Turkish Prime Minister Recep Tayyip Erdogan chided a promising young footballer on Friday for having a tattoo on his wrist, warning such foreign-inspired body art could give him skin cancer. The incident occurred when Erdogan visited the Turkish national
Published 05 Jul, 2014 12:00am
Germany arrests suspected double agent spying for US

Germany arrests suspected double agent spying for US

German authorities have arrested a German man employed by the country's foreign intelligence agency (BND) on suspicion of spying for the United States, two politicians with knowledge of the affair told Reuters on Friday. The German Federal Prosecutor's of
Published 05 Jul, 2014 12:00am
Ukraine agrees to crisis talks with rebels and Russia

Ukraine agrees to crisis talks with rebels and Russia

Ukraine's embattled new leader agreed on Friday to immediate crisis talks with rebel commanders and Russia aimed at stemming bloodshed that has threatened his strategic country's survival and ruptured East-West ties. Clashes in the economically-vital bord
Published 05 Jul, 2014 12:00am
Putin tells Obama he wants better ties, equal treatment

Putin tells Obama he wants better ties, equal treatment

President Vladimir Putin called for an improvement in ties between Russia and the United States on Friday in an Independence Day message to Barack Obama, urging Washington to treat Moscow as an equal partner. Relations between the two presidents and count
Published 05 Jul, 2014 12:00am
Islamic State extends gains in parts of Syria

Islamic State extends gains in parts of Syria

Around 30 Islamic State fighters broke out of a makeshift jail where rival Syrian Islamists had been holding them, a monitoring group said on Friday as it detailed the latest territorial gains by the al Qaeda offshoot. The insurgents demolished a wall to
Published 05 Jul, 2014 12:00am
Hurricane Arthur heads up US East Coast

Hurricane Arthur heads up US East Coast

Hurricane Arthur, downgraded to a category one storm, carried its still-fierce winds and drenching rains toward the US northeast Friday, after getting the July 4 holiday off to a soggy start for vacationers further south. By morning, Arthur, which had cra
Published 05 Jul, 2014 12:00am
Organisers of huge Hong Kong rally arrested

Organisers of huge Hong Kong rally arrested

Police on Friday arrested the organisers of Hong Kong's biggest pro-democracy rally since the city was handed back to China, sparking outrage from campaigners who denounced the "political suppression". Five members of the Civil Human Rights Front, includi
Published 05 Jul, 2014 12:00am
Palestinians bury slain teen, clashes hit East Jerusalem

Palestinians bury slain teen, clashes hit East Jerusalem

Thousands of Palestinians, some firing weapons into the air, took part Friday in the emotionally charged east Jerusalem funeral of a Palestinian teenager believed murdered by Israelis. Chanting "with our blood and our spirit we shall sacrifice for the mar
Published 05 Jul, 2014 12:00am
No new nickel plants for New Caledonia

No new nickel plants for New Caledonia

New Caledonia, which this week allowed Brazil's Vale to restart its nickel operations after an acid spill and subsequent riot, is not open to new mining plants, having reached maximum capacity, an influential and newly-elected local government official to
Published 05 Jul, 2014 12:00am
Shanghai copper climbs

Shanghai copper climbs

The most-traded September copper contract on the Shanghai Futures Exchange climbed 0.8 percent to 51,320 yuan ($8,300) a tonne on Friday, having hit its highest in six months overnight. Copper is set to forge its biggest weekly climb in nine months, as an
Published 05 Jul, 2014 12:00am
Copper set to post biggest weekly gain since September

Copper set to post biggest weekly gain since September

Copper prices were near their highest level in more than four months on Friday, set to post their biggest weekly rise in more than nine months, as US jobs data boosted the demand outlook for industrial metals. Benchmark London Metal Exchange (LME) copper
Published 05 Jul, 2014 12:00am
Oil drops on signs of rising supply

Oil drops on signs of rising supply

Oil dipped on Friday with Brent futures dropping below $111 a barrel on the prospect of revived Libyan exports and more US crude soon finding its way to refiners, but losses were tempered by economic data pointing to a stronger demand outlook. Brent crude
Published 05 Jul, 2014 12:00am
Tokyo rubber futures up

Tokyo rubber futures up

Tokyo rubber futures ended lower on Friday due to weaker oil prices, but dealers said prices found a strong support level of 210 yen and could rebound next week. The Tokyo Commodity Exchange rubber contract for December delivery dropped 2.7 yen to settle
Published 05 Jul, 2014 12:00am
India raises cotton export forecast

India raises cotton export forecast

India, the world's second-biggest cotton producer, on Wednesday raised its export forecast for the crop year ending September by 27 percent with demand strong for buyers beyond China. The new estimate of 11.4 million bales is also higher than India's ship
Published 05 Jul, 2014 12:00am
Palm oil drops

Palm oil drops

Malaysian palm oil futures edged down on Friday and recorded their biggest weekly drop in five, with buying interest curbed as the ringgit hit its highest in more than seven months. The Malaysian ringgit gained as much as 0.6 percent to 3.1790 per dollar
Published 05 Jul, 2014 12:00am
Liffe cocoa steady, eyes on Q2 grindings

Liffe cocoa steady, eyes on Q2 grindings

Liffe cocoa prices were steady on Friday, remaining trapped within a tight range, as dealers awaited the latest grind data. Sugar prices were slightly lower, while robusta coffee was also down in thin trading, with ICE markets closed for Independence Day.
Published 05 Jul, 2014 12:00am
Corn hits contract lows

Corn hits contract lows

US corn futures fell to contract lows on Wednesday as optimal weather in the heart of the Corn Belt boosted prospects for a bumper harvest this autumn, traders said. Soyabean futures also fell while wheat firmed on bargain buying after falling to a 4-1/2
Published 05 Jul, 2014 12:00am
Gold slips in New York

Gold slips in New York

Gold slipped on Thursday after US nonfarm payrolls rose more than expected in June, fuelling expectations US interest rates could rise earlier than expected. US employment growth jumped in June and the jobless rate closed in on a six-year low, compelling
Published 05 Jul, 2014 12:00am
Gold flat in Asia

Gold flat in Asia

Gold was mostly unchanged on Friday, holding on to its losses from the previous session, and could see a further drop in prices as strong US jobs data and record highs on Wall Street dent the precious metal's safe-haven appeal. US employment growth jumped
Published 05 Jul, 2014 12:00am
Gold rises, palladium trading at highest since 2001

Gold rises, palladium trading at highest since 2001

Gold edged up on Friday, gaining support from mixed European shares, but remained vulnerable after strong US jobs data lifted the dollar, denting gold's investment appeal. US employment growth jumped in June and the jobless rate closed in on a six-year lo
Published 05 Jul, 2014 12:00am
Allied Bank opens first Islamic branch at DHA Phase V

Allied Bank opens first Islamic branch at DHA Phase V

Allied Bank Limited has launched its Islamic Banking with the inauguration of its first Islamic Banking Branch at DHA Phase V, Lahore. The branch was inaugurated by Saeed Ahmad, Deputy Governor, State Bank of Pakistan. Naeem Mukhtar, Chairman, Directors,
Published 05 Jul, 2014 12:00am
AHAN, RAHA launch women training programme

AHAN, RAHA launch women training programme

After completion of baseline survey to select 500 females including 100 Afghan Refugees, three-month training in different skills including embroidery, wool weaving and block printing has been started. The training has been jointly launched by AHAN (Aik H
Published 05 Jul, 2014 12:00am
BISP trainers, beneficiaries threaten to go on hunger strike

BISP trainers, beneficiaries threaten to go on hunger strike

The Benazir Income Support Programme's 52 training providers and more than 21,000 beneficiaries have threatened to go on hunger strike unto death if they are not provided with their long-overdue funds. The trainers and beneficiaries of Waseela-e-Rozgar pr
Published 05 Jul, 2014 12:00am
SHC issues notice to DHA officials

SHC issues notice to DHA officials

Sindh High Court (SHC) on Friday issued a notice to top officials of Defence Housing Authority (DHA) for disobeying its earlier order that restrained them from taking any coercive action against a cellular company in pursuance of a notice for payment of a
Published 05 Jul, 2014 12:00am
Target killer killed in encounter

Target killer killed in encounter

An alleged target killer of Karachi was killed in exchange of fire with police here on Friday. The heirs held protest with dead body by blocking the road. According to reports, the police on a tips of regarding presence of criminals launched crackdown in
Published 05 Jul, 2014 12:00am
Journalist residence: CM takes notice of third consecutive attack

Journalist residence: CM takes notice of third consecutive attack

Chief Security Officer (CSO) KP CM, Zaibullah Khan has said that the Chief Minister has taken stern notice of the third consecutive attack and explosion at the residence of the bureau chief of a private news channel, Jamshid Baghwan.
Published 05 Jul, 2014 12:00am
GHCL employees being treated as rolling stones

GHCL employees being treated as rolling stones

Ministry of Water and Power is reportedly treating the employees of Government Holding Company Limited (GHCL) as rolling stones, well informed sources told Business Recorder. Sources said, in 2002, GHCL Islamabad office was established with a massi
Published 05 Jul, 2014 12:00am
Essential food items' prices continue to rise

Essential food items' prices continue to rise

Despite claims to containing prices of essential food items during holy month of Ramazan, by the government, the prices of vegetables, fruits and grains have continued to soar upwards. The district administration has failed to control profiteering and hoa
Published 05 Jul, 2014 12:00am
WCCI to hold handicraft bazaar from July 15

WCCI to hold handicraft bazaar from July 15

Women Chamber of Commerce and Industry (WCCI) Peshawar announced to hold women handicraft bazaar on eve of Ramazan, which will be formally open from July 15. The decision was taken in a meeting, chaired by WCCI Peshawar chairperson Fitrat Ilyas Bilour at
Published 05 Jul, 2014 12:00am
Punjab chief minister inspects Ramazan Bazaars

Punjab chief minister inspects Ramazan Bazaars

On the instructions of Punjab Chief Minister Shahbaz Sharif, provincial ministers and senior government officers visited various Ramazan Bazaars in different cities and inspected suppply, quality and rates there. Advisor to Chief Minister on Health Khawaj
Published 05 Jul, 2014 12:00am
74 alleged criminals held

74 alleged criminals held

The City police on Friday claimed to have arrested around 74 alleged criminals in different targeted raids and encounters conducted at various parts of the provincial metropolis during last 24 hours. Police said 79 raids and four encounters were carried o
Published 05 Jul, 2014 12:00am
Workshop on climate resilient communities in Sindh coastal areas held

Workshop on climate resilient communities in Sindh coastal areas held

Leading development professionals, policy makers and community representatives gathered in Thatta district of Sindh to attend the inception workshop on "Climate Resilient Communities in Coastal Lying Areas of Sindh project" organised by Aga Khan Planning
Published 05 Jul, 2014 12:00am
NAB highlights 'Land Revenue Frauds'

NAB highlights 'Land Revenue Frauds'

National Accountability Bureau (NAB) has organised training session on 'Land Revenue Frauds' for its Balochistan region officials here at NAB regional office on Friday. Day-long training session aimed at, highlighting the Land Revenue Frauds and evolve st
Published 05 Jul, 2014 12:00am
'Parboiled rice units on the verge of collapse'

'Parboiled rice units on the verge of collapse'

The export of Pakistan's parboiled rice has decreased by 10 times as compared to India's parboiled rice export due to high international rate of $425 per metric ton. Talking to Business Recorder here on Friday, a rice trader Hashim Sharja Wala, sai
Published 05 Jul, 2014 12:00am
Pulses imports decline by 11 percent

Pulses imports decline by 11 percent

A better crop anticipation in the country pulled down pulses import by 11 percent to 269.729 million dollars from July 2013 to May 2014, importers said on Friday. "This year pulses yield is good in the country which reduces the pulses import," said Chairm
Published 05 Jul, 2014 12:00am
Clarification by SIUT

Clarification by SIUT

some mobile SMS messages are in circulation attributing Dr Adibul Hasan Rizvi, Director Sindh Institute of Urology and Transplantation (SIUT) to the use of some commercial soft drinks especially during Ramazan. Dr Adib Rizvi and SIUT have not issued any s
Published 05 Jul, 2014 12:00am
KSE's 'Rule Book' published

KSE's 'Rule Book' published

Karachi Stock Exchange (KSE) following publication of its Rule Book in the official gazette of Pakistan has announced its implementation with immediate effect. KSE has informed all market participants that in continuation of its Notice No KSE-2646 of May
Published 05 Jul, 2014 12:00am
Hafiz Saeed blames US, India for growing unrest in country

Hafiz Saeed blames US, India for growing unrest in country

Chief of Jamat-ud-Dawa (JuD), Hafiz Saeed on Friday blamed the US, Nato and India for unrest in the country, saying that the West is avenging from Pakistan for its defeat in Afghanistan in a decade-long war. "Nearly all Nato countries have already run awa
Published 05 Jul, 2014 12:00am
490 road accidents reported: '11 lives lost during 24 hours'

490 road accidents reported: '11 lives lost during 24 hours'

Total 490 road traffic accidents were reported in Rescue 1122's Provincial Monitoring Cell in all 36 districts of Punjab during the last 24 hours; in which 11 lives were lost and 404 seriously injured were shifted to different hospitals of relevant distri
Published 05 Jul, 2014 12:00am
SHC issues notice to Sachchal PS SHO

SHC issues notice to Sachchal PS SHO

The Sindh High Court (SHC) on Friday issued a fresh notice to the House Station Officer (SHO) of Sachchal Goth police station to submit an explanation as to why he failed to show up in the court for filing his comments in the petition against alleged fake
Published 05 Jul, 2014 12:00am
LEAs asked to file reports on whereabouts of missing persons

LEAs asked to file reports on whereabouts of missing persons

The Sindh High Court (SHC) on Friday directed the director general of Rangers, the provincial police chief and other officials of law-enforcement agencies (LEAs) to submit their respective reports on whereabouts of four missing men allegedly kept in illeg
Published 05 Jul, 2014 12:00am
People urged to help mitigate IDPs' sufferings

People urged to help mitigate IDPs' sufferings

JI Ameer, Sirajul Haq has said on Friday that around 0.7 million IDPs from North Waziristan Agency are facing extreme hardships and the nation must step forward to mitigate their sufferings. He said that the Al-Khidmat Foundation has set up relief camps f
Published 05 Jul, 2014 12:00am
PU vice chancellor reviews help plan for IDPs

PU vice chancellor reviews help plan for IDPs

Punjab University Vice Chancellor Professor Dr Mujahid Kamran on Friday chaired a meeting of all deans and heads of departments to review arrangements for helping internally displaced people (IDPs) of North Waziristan. On this occasion, the meeting decide
Published 05 Jul, 2014 12:00am
49 industrial, commercial defaulters: SNGPL disconnects gas supply

49 industrial, commercial defaulters: SNGPL disconnects gas supply

Sui Northern Gas Pipelines Limited (SNGPL) disconnected gas supply to as many as 49 industrial and commercial defaulting for owing an amount of over Rs 246.335 million. According to the SNGPL officials Managing Director SNGPL, Arif Hameed issued orders to
Published 05 Jul, 2014 12:00am
49 industrial, commercial defaulters: SNGPL disconnects gas supply

49 industrial, commercial defaulters: SNGPL disconnects gas supply

Sui Northern Gas Pipelines Limited (SNGPL) disconnected gas supply to as many as 49 industrial and commercial defaulting for owing an amount of over Rs 246.335 million. According to the SNGPL officials Managing Director SNGPL, Arif Hameed issued orders to
Published 05 Jul, 2014 12:00am
Gas load management: Punjab-based textile millers reject schedule

Gas load management: Punjab-based textile millers reject schedule

The Punjab-based textile millers have unanimously rejected new gas load management schedule of the SNGPL and said that it is not possible to operate mills on one shift and lay off millions of workers of two-shift operations in the Holy month of Ramazan.
Published 05 Jul, 2014 12:00am
Irshad Kassim appointed Chairman PICIC Insurance

Irshad Kassim appointed Chairman PICIC Insurance

Irshad Ali Shaaban Ali Kassim has been appointed as Chairman PICIC Insurance Limited by its Board of Directors on Friday. The Karam Group has acquired 60 per cent of the shares of PICIC Insurance which is fourth largest insurance company in marine and hea
Published 05 Jul, 2014 12:00am
Lawyers beat up father, son

Lawyers beat up father, son

A group of lawyers gave a sound thrashing to an elderly man and his son when they visited Sessions Court on Friday to secure pre arrest bail in a criminal case involving the brother of a lawyer. Naveed of Factory Area had a scuffle with brothers of Mansoo
Published 05 Jul, 2014 12:00am
PAT's petition: court seeks report from SHO

PAT's petition: court seeks report from SHO

A sessions court here on Friday sought a report from Faisal Town Station House Officer (SHO) by July 08 in response to a petition of Pakistan Awami Tehreek (PAT) through which it had sought the registration of a murder case against Prime Minister Nawaz Sh
Published 05 Jul, 2014 12:00am
Fruit, vegetable prices rising in Multan

Fruit, vegetable prices rising in Multan

The shopkeepers in Multan significantly increased the prices of fruit and vegetables as compared to the rates in the previous week in South Punjab. Grapes are being sold at Rs 800/kg, peach, apricot, plum is available at Rs 200 to 240, lemon at Rs 120 to
Published 05 Jul, 2014 12:00am
Rashid seeks to step up pressure on government

Rashid seeks to step up pressure on government

Awami Muslim League (AML) Chief Sheikh Rashid Ahmed on Friday met PAT Chief Dr Tahir-ul-Qadri and Chaudhry brothers in a bid to step up efforts to dislodge the sitting PML-N government. During the meetings, Sheikh Rashid exchanged views on current politic
Published 05 Jul, 2014 12:00am
LHC terminates services of seven civil judges

LHC terminates services of seven civil judges

The Lahore High Court Chief Justice has terminated services of seven civil judge-cum-judicial magistrates during their probationary period. The terminated judges include Nadeem Asghar Nadeem (Jalalpur Pirwala), Muhammad Amjad (Sialkot), Muzaffar Hussain (
Published 05 Jul, 2014 12:00am
PIAF urges government to withdraw rise in gas rates

PIAF urges government to withdraw rise in gas rates

Pakistan Industrial and Traders Associations Front (PIAF) has urged the government to withdraw massive increase in gas prices as it would destroy major export earning sectors including textile sector. PIAF Chairman Malik Tahir Javed in a statement on Frid
Published 05 Jul, 2014 12:00am
Net hydel profits: Punjab estimates to get Rs 21 billion from centre

Net hydel profits: Punjab estimates to get Rs 21 billion from centre

Punjab government has estimated to get Rs 21,000 million as share of Punjab under net hydel profits from federal government in financial year 2014-15. In order to have a claim over Federal Government of net hydel profit an allocation of Rs 21,000 million
Published 05 Jul, 2014 12:00am
HRW urges Pakistan to pull 'repressive' terror law

HRW urges Pakistan to pull 'repressive' terror law

Government's tough new anti-terror law gives a "green light for abusing suspects" and should be withdrawn, a rights group said Friday. Human Rights Watch (HRW) said the Protection of Pakistan Bill, passed by the Islamabad parliament on Wednesday, violated
Published 05 Jul, 2014 12:00am
Sindh Police Structural reforms introduced to enhance capacity: CM

Sindh Police Structural reforms introduced to enhance capacity: CM

The Chief Minister Sindh, Syed Qaim Ali Shah has said that innovative structural reforms were being introduced in the Sindh police to enhance its capacity and rapid response in controlling the crime. This he said while presiding over meeting regarding lau
Published 05 Jul, 2014 12:00am
Two held: firms making fake pesticides, chemicals raided

Two held: firms making fake pesticides, chemicals raided

Punjab Agriculture Department (PAD) raided a fake pesticide and zinc sulphate manufacturing company and took into custody fake goods worth hundreds of thousand rupees and handed over two accused to the police for further proceedings. According to PAD spok
Published 05 Jul, 2014 12:00am
Man shot dead in Maymar Complex

Man shot dead in Maymar Complex

A man was killed here on Friday. According to police and rescue sources, a man was shot dead by unidentified persons in Maymar Complex, situated in the jurisdictions of Sohrab Goth police station. The deceased was identified as Allah Dino, 40, son of Abdu
Published 05 Jul, 2014 12:00am
July 5 a black day in country's history: Zardari

July 5 a black day in country's history: Zardari

July 5 is a black day for democratic history of the country when a dictator overthrew an elected government and later executed the then Prime Minster, decimated the Constitution and destroyed state institutions. This was stated by Co-Chairman Pakistan Peo
Published 05 Jul, 2014 12:00am
PPP won't let anyone derail democracy: Rabbani

PPP won't let anyone derail democracy: Rabbani

Pakistan People's Party (PPP) leader Senator Raza Rabbani has said that only democracy can save Pakistan, adding that though PPP has differences with PML-N on several issues but it would not let anyone to derail democracy. This he said while addressing a
Published 05 Jul, 2014 12:00am
55,000MT of coal arrives from Australia

55,000MT of coal arrives from Australia

Mega Ocean carrying 55,000 metric tons of metallurgical coal from Australia has berthed at Pakistan Steel Mills Jetty, Bin Qasim on Friday. Another ship Mega Lohori, carrying 55,000 metric tons of metallurgical coal from Australia has also reached at the
Published 05 Jul, 2014 12:00am
Protecting against floods: IRC gives technical approval to 7 schemes

Protecting against floods: IRC gives technical approval to 7 schemes

The Indus River Commission (IRC) in its 175th full committee meeting held under the Chairmanship of Chief Minister Sindh Syed Qaim Ali Shah at CM House Friday has accorded technical approval to 7 different flood protective and communication development sc
Published 05 Jul, 2014 12:00am
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