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Print - 2014-08-06
Nasim Sadiq visits UVAS

Nasim Sadiq visits UVAS

Newly-appointed Secretary Livestock and Dairy Development Department Punjab Nasim Sadiq visited the University of Veterinary and Animal Sciences (UVAS) Lahore and called on Vice-Chancellor Professor Dr Talat Naseer Pasha on Tuesday. The Vice-Chancellor br
Published 06 Aug, 2014 12:00am
Government urged to purge PGJDC BoD of political appointments

Government urged to purge PGJDC BoD of political appointments

The Regional Standing Committee on Gems & Jewellery, FPCCI, and Gold & Gems Art Promotion Council-Pakistan (GGAPC-Pakistan) in a joint meeting have urged the government to purge the Board of Directors (BOD) of Pakistan Gems & Jewellery Development Company
Published 06 Aug, 2014 12:00am
Qadri, Chaudhrys promoting yellow politics: Rana Arshad

Qadri, Chaudhrys promoting yellow politics: Rana Arshad

Parliamentary Secretary Information & Culture Rana Muhammad Arshad has said that people will foil every conspiracy against democracy with unity as they know that the progress and prosperity of the country is based on mutual love and brotherhood.
Published 06 Aug, 2014 12:00am
LG Electronics' net profit surges by 165 percent in Q2

LG Electronics' net profit surges by 165 percent in Q2

LG Electronics Inc announced a 165 percent increase in second-quarter net profit compared with the same period last year, reflecting strong earnings from both the TV and mobile operations. LG reported second-quarter 2014 net profit of KRW 412 billion (USD
Published 06 Aug, 2014 12:00am
LG Electronics' net profit surges by 165 percent in Q2

LG Electronics' net profit surges by 165 percent in Q2

LG Electronics Inc announced a 165 percent increase in second-quarter net profit compared with the same period last year, reflecting strong earnings from both the TV and mobile operations. LG reported second-quarter 2014 net profit of KRW 412 billion (USD
Published 06 Aug, 2014 12:00am
Energy supply constraints: textile industry's growth being marred: APTMA

Energy supply constraints: textile industry's growth being marred: APTMA

Central Chairman APTMA Yasin Siddik has said that sustainability and growth of textile industry is being marred by energy supply constraints and liquidity crunch, limiting industrial potential to operate on full scale. He said unfortunately the textile in
Published 06 Aug, 2014 12:00am
Seven fishermen rescued as launch capsizes

Seven fishermen rescued as launch capsizes

At least eight fishermen drowned while seven were rescued alive after a launch capsized here on Tuesday. Rescue sources said that a launch carrying 15 fishermen sank at Warri Crake near Shah Bandar in Thatta. Divers of Pakistan Navy managed to rescue seve
Published 06 Aug, 2014 12:00am
Job regularisation: PLDDD employees stage protest

Job regularisation: PLDDD employees stage protest

Employees of Punjab Livestock and Dairy Development Department (PLDDD) project "Support Service for Livestock Farms" staged a demonstration here on Tuesday to press the provincial government for regularisation of their jobs. They alleged that 800 employee
Published 06 Aug, 2014 12:00am
Segregation of clients' assets Broker fined for violation

Segregation of clients' assets Broker fined for violation

The Securities and Exchange Commission of Pakistan (SECP) has imposed a penalty of Rs 25,000 on a broker of the Karachi Stock Exchange (KSE) for not maintaining segregation of clients' assets and strictly directed brokers to avoid the violation of the Rul
Published 06 Aug, 2014 12:00am
China supports Pakistan's constructive role in regional affairs

China supports Pakistan's constructive role in regional affairs

Chinese ambassador to Pakistan Sun Weidong on Tuesday said China supported Pakistan's greater constructive role in regional and international affairs. Speaking at the opening ceremony of seminar titled "Building China-Pakistan Community of Shared Destiny"
Published 06 Aug, 2014 12:00am
Literary reference in memory of late Majid Nizami held

Literary reference in memory of late Majid Nizami held

Preston University and Daira Islamabad organised a Literary Reference in honour of late Editor-in-Chief Nawa-e-Waqt Group, Majid Nizami here on Tuesday at the auditorium of Preston University.
Published 06 Aug, 2014 12:00am
IRS, PCS officers asked to submit declaration of assets by August 15

IRS, PCS officers asked to submit declaration of assets by August 15

The Federal Board of Revenue (FBR) has directed all the officers of Inland Revenue Service (IRS) and Pakistan Customs Service (PCS) to submit their Declaration of Assets for the year ending June 30, 2014 by extended deadline of August 15, 2014. In this re
Published 06 Aug, 2014 12:00am
Ahsan briefs German Ambassador about energy projects

Ahsan briefs German Ambassador about energy projects

Federal Minister for Planning, Development and Reform Professor Ahsan Iqbal met German Ambassador to Pakistan Dr Cyril Nunn here on Tuesday to discuss bilateral ties of Pakistan and Germany. The Ambassador appreciated the economic initiatives undertaken b
Published 06 Aug, 2014 12:00am
PP-97 Gujranwala: Tribunal sets aside election results

PP-97 Gujranwala: Tribunal sets aside election results

An election tribunal here on Tuesday setting aside election results of 33 polling stations in constituency of PP-97, Gujranwala, directed Election Commission for re-elections in the said polling stations within the stipulated time. Pakistan Muslim League
Published 06 Aug, 2014 12:00am
Rs 73.6 million fraud: NAB Rawalpindi arrests government contractor

Rs 73.6 million fraud: NAB Rawalpindi arrests government contractor

NAB Rawalpindi has arrested an accused Javed Iqbal Abbasi involved in corruption and corrupt practices through embezzlement in government funds. The accused was a government contractor with Ministry of Defense Production, who with malafide intention manip
Published 06 Aug, 2014 12:00am
The Weather

The Weather

The weather report on Tuesday (August 05, 2014) and the forecast for Wednesday (August 06, 2014).

Published 06 Aug, 2014 12:00am
16 killed as van plunges into gorge

16 killed as van plunges into gorge

At least 16 persons were killed and eight others injured when a passenger van plunged into a deep gorge here on Tuesday. Rescue sources said the accident took place in Chotial area of Abbaspur in Azad Jammu and Kashmir (AJK) where a passenger van coming f
Published 06 Aug, 2014 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (August 05, 2014).

Published 06 Aug, 2014 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (August 05, 2014).

Published 06 Aug, 2014 12:00am
New two-tier ST regime for retailers: tax experts seek FBR clarification

New two-tier ST regime for retailers: tax experts seek FBR clarification

The retailers' operating under the turnover sales tax scheme or retail outlets/shops in commercial buildings without having centrally air-condition facility or not part of shopping plazas are not fully apprehending the new sales tax registration regime in
Published 06 Aug, 2014 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 06 Aug, 2014 12:00am
'Every Jawan following in the footsteps of Safwat Ghayur'

'Every Jawan following in the footsteps of Safwat Ghayur'

Additional Inspector General (AIG) of Police Headquarters Mohammad Asif said in the war against terror every Jawan of the force is emulating the footprints of Shaheed Safwat Ghayur. This he said while talking to media persons on the eve of the fourth deat
Published 06 Aug, 2014 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 06 Aug, 2014 12:00am
Police should not act as servants of the Sharif brothers: Pervez

Police should not act as servants of the Sharif brothers: Pervez

Sounding a warning to Punjab police, Pakistan Muslim League-Q senior central leader Chaudhry Parvez Elahi said that Punjab police should not act as employees of Sharif Brothers. He said N-League has been occupying power for the last 15 years; the govt its
Published 06 Aug, 2014 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (August 05, 2014).

Published 06 Aug, 2014 12:00am
Election Reforms: National Assembly body to elect chairperson today

Election Reforms: National Assembly body to elect chairperson today

The inaugural meeting of the Special Parliamentary Committee on Election Reforms will be held on Wednesday here to elect its chairperson. The Speaker National Assembly has constituted the committee following motions unanimously adopted by the National Ass
Published 06 Aug, 2014 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Tuesday (August 05, 2014) and for Wednesday (August 06, 2014).
Published 06 Aug, 2014 12:00am
PMD issues weekly weather forecast

PMD issues weekly weather forecast

Pakistan Meteorological Department(PMD) has issued following weather forecast for next following seven days. Wednesday mainly hot and very humid weather is expected in most parts of the country. However, rain-thundershower is expected at a few places in I
Published 06 Aug, 2014 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (August 05, 2014).

Published 06 Aug, 2014 12:00am
'PML-N government implementing solid economic policies'

'PML-N government implementing solid economic policies'

Punjab Chief Minister Shahbaz Sharif has said PML-N government led by Prime Minister Nawaz Sharif is implementing solid economic policies to strengthen economy. He said that an effective strategy has been adopted for the promotion of local and foreign inv
Published 06 Aug, 2014 12:00am
Askari General Insurance Company Limited

Askari General Insurance Company Limited

Operating since 1995 as a public limited company, Askari Insurance enjoys the financial backing of Army Welfare Trust which is involved in finance, banking, production of consumer goods and services. About 23 companies from diverse backgrounds fall under
Published 06 Aug, 2014 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Tuesday (August 05, 2014).

Published 06 Aug, 2014 12:00am
Askari General Insurance Company Limited

Askari General Insurance Company Limited

Operating since 1995 as a public limited company, Askari Insurance enjoys the financial backing of Army Welfare Trust which is involved in finance, banking, production of consumer goods and services. About 23 companies from diverse backgrounds fall under
Published 06 Aug, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (August 05, 2014).

Published 06 Aug, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (August 05, 2014).

Published 06 Aug, 2014 12:00am
Death of legendary editor

Death of legendary editor

Apropos Business Recorder editorial "Majid Nizami: the end of an era", there is no doubt about the fact that with the demise of Majid Nizami, chief of the Nawa-i-Waqt group of publications, has come to end an important era in Pakistan's history of
Published 06 Aug, 2014 12:00am
Cuban exodus persists, 20 years after 'rafter crisis'

Cuban exodus persists, 20 years after 'rafter crisis'

Twenty years after tens of thousands of Cubans braved the sea to head to the United States in the "rafter crisis," islanders are still fleeing the communist country despite timid economic reforms. The exodus started after the biggest protest against the d
Published 06 Aug, 2014 12:00am
Roadmap to overcome power crisis - II

Roadmap to overcome power crisis - II

In the last article published on August 1, we presented the road map leading to the availability of power. Equally important is the affordability of power. The electricity tariff in Pakistan is biting the domestic consumer, industry, agriculturist, trader
Published 06 Aug, 2014 12:00am
THE RUPEE: upward trend

THE RUPEE: upward trend

The rupee, somehow, managed to recover some losses against the dollar on the money market on Tuesday, dealers said. The rupee appreciated by seven-paisa in relation to the dollar for buying and selling at Rs 98.81 and Rs 98.83 respectively, they said.
Published 06 Aug, 2014 12:00am
Integrity management in tax administration

Integrity management in tax administration

Similar to the socio-political culture of most public sector institutions in Pakistan, FBR is also in the 'integrity crises'. Given that the widespread publicity on this issue drives public opinion, it is incumbent upon the tax administrations to take pro
Published 06 Aug, 2014 12:00am
THE RUPEE: upward trend

THE RUPEE: upward trend

The rupee, somehow, managed to recover some losses against the dollar on the money market on Tuesday, dealers said. The rupee appreciated by seven-paisa in relation to the dollar for buying and selling at Rs 98.81 and Rs 98.83 respectively, they said.
Published 06 Aug, 2014 12:00am
Afghan election crisis

Afghan election crisis

If an exceptionally high voter turnout in Afghan presidential election had raised hopes of a stable future for that country the unending feud between the two front-runners, Abdullah Abdullah and Ashraf Ghani, over final result, is threatening to cause pol
Published 06 Aug, 2014 12:00am
Torture and CIA

Torture and CIA

A US congressional report on the CIA's interrogation and detention practices after the 9/11 attacks, 'accidentally' leaked by the White House to an Associated Press reporter, says that the techniques used on al Qaeda detainees were far more brutal than pr
Published 06 Aug, 2014 12:00am
A needless boast

A needless boast

Federal Finance Minister Ishaq Dar has vowed to bring back the 200 billion dollars banked in Switzerland by Pakistanis. This announcement is unfortunate as it raises expectations which, if not delivered, would fuel discontent. One would have hoped that th
Published 06 Aug, 2014 12:00am
World Bank pledges millions to Ebola fight

World Bank pledges millions to Ebola fight

The World Bank has pledged $200 million to help contain the deadly Ebola virus reaping panic across west Africa, as Nigerian authorities say a doctor in Lagos has contracted the disease, the second case in the sprawling city. The confirmation that a fourt
Published 06 Aug, 2014 12:00am
World Bank pledges millions to Ebola fight

World Bank pledges millions to Ebola fight

The World Bank has pledged $200 million to help contain the deadly Ebola virus reaping panic across west Africa, as Nigerian authorities say a doctor in Lagos has contracted the disease, the second case in the sprawling city. The confirmation that a fourt
Published 06 Aug, 2014 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (August 05, 2014).

Published 06 Aug, 2014 12:00am
Presence of former ministers in body: AGP, PAC members at daggers drawn

Presence of former ministers in body: AGP, PAC members at daggers drawn

Auditor General of Pakistan (AGP) termed the proceedings of National Assembly''s Public Accounts Committee (PAC) under the chairmanship of any former federal minister against the set international auditing and accounting standards and announced to boycott
Published 06 Aug, 2014 12:00am
Presence of former ministers in body: AGP, PAC members at daggers drawn

Presence of former ministers in body: AGP, PAC members at daggers drawn

Auditor General of Pakistan (AGP) termed the proceedings of National Assembly's Public Accounts Committee (PAC) under the chairmanship of any former federal minister against the set international auditing and accounting standards and announced to boycott
Published 06 Aug, 2014 12:00am
Presence of former ministers in body: AGP, PAC members at daggers drawn

Presence of former ministers in body: AGP, PAC members at daggers drawn

Auditor General of Pakistan (AGP) termed the proceedings of National Assembly's Public Accounts Committee (PAC) under the chairmanship of any former federal minister against the set international auditing and accounting standards and announced to boycott
Published 06 Aug, 2014 12:00am
Treason trial: prosecution witness fails to respond to question

Treason trial: prosecution witness fails to respond to question

A special court trying former army chief and President Pervez Musharraf under Article 6 of the Constitution on Tuesday adjourned the hearing of case till August 6 (today). A three-member bench led by Justice Faisal Arab and comprising Justice Tahira Safda
Published 06 Aug, 2014 12:00am
Treason trial: prosecution witness fails to respond to question

Treason trial: prosecution witness fails to respond to question

A special court trying former army chief and President Pervez Musharraf under Article 6 of the Constitution on Tuesday adjourned the hearing of case till August 6 (today). A three-member bench led by Justice Faisal Arab and comprising Justice Tahira Safda
Published 06 Aug, 2014 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 06 Aug, 2014 12:00am
Sugar export: SBP reduces advance deposit requirement

Sugar export: SBP reduces advance deposit requirement

In order to facilitate the exporters, State Bank of Pakistan (SBP) while extending the shipment period for sugar by 45-days has announced to reduce advance deposit requirement from 25 percent to 15 percent with immediate effect. According to SBP EPD Circu
Published 06 Aug, 2014 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 06 Aug, 2014 12:00am
Sugar export: SBP reduces advance deposit requirement

Sugar export: SBP reduces advance deposit requirement

In order to facilitate the exporters, State Bank of Pakistan (SBP) while extending the shipment period for sugar by 45-days has announced to reduce advance deposit requirement from 25 percent to 15 percent with immediate effect. According to SBP EPD Circu
Published 06 Aug, 2014 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 06 Aug, 2014 12:00am
Sugar export: SBP reduces advance deposit requirement

Sugar export: SBP reduces advance deposit requirement

In order to facilitate the exporters, State Bank of Pakistan (SBP) while extending the shipment period for sugar by 45-days has announced to reduce advance deposit requirement from 25 percent to 15 percent with immediate effect. According to SBP EPD Circu
Published 06 Aug, 2014 12:00am
Man held over 'bomb hoax' on Qatar-UK flight

Man held over 'bomb hoax' on Qatar-UK flight

British police on Tuesday arrested a man suspected of making a hoax bomb threat aboard a Qatar Airways plane that caused it to be escorted down by a military fighter jet. A Royal Air Force (RAF) Typhoon guided the plane, which was travelling from Doha wit
Published 06 Aug, 2014 12:00am
Man held over 'bomb hoax' on Qatar-UK flight

Man held over 'bomb hoax' on Qatar-UK flight

British police on Tuesday arrested a man suspected of making a hoax bomb threat aboard a Qatar Airways plane that caused it to be escorted down by a military fighter jet. A Royal Air Force (RAF) Typhoon guided the plane, which was travelling from Doha wit
Published 06 Aug, 2014 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 06 Aug, 2014 12:00am
Egypt to dig ''new Suez canal'' at cost of $4 billion

Egypt to dig ''new Suez canal'' at cost of $4 billion

President Abdel Fattah al-Sisi launched Tuesday the construction of a $4 billion "new Suez Canal" that aims to speed up traffic along the existing waterway and boost Egypt''s battered economy. The project foresees the creation of one million jobs at a tim
Published 06 Aug, 2014 12:00am
Egypt to dig 'new Suez canal' at cost of $4 billion

Egypt to dig 'new Suez canal' at cost of $4 billion

President Abdel Fattah al-Sisi launched Tuesday the construction of a $4 billion "new Suez Canal" that aims to speed up traffic along the existing waterway and boost Egypt's battered economy. The project foresees the creation of one million jobs at a time
Published 06 Aug, 2014 12:00am
Egypt to dig 'new Suez canal' at cost of $4 billion

Egypt to dig 'new Suez canal' at cost of $4 billion

President Abdel Fattah al-Sisi launched Tuesday the construction of a $4 billion "new Suez Canal" that aims to speed up traffic along the existing waterway and boost Egypt's battered economy. The project foresees the creation of one million jobs at a time
Published 06 Aug, 2014 12:00am
ISE index improves by 15.8 points

ISE index improves by 15.8 points

Bulls dominated the proceedings at the Islamabad Stock Exchange (ISE) on Tuesday, where equities continued to move in upward direction with positive trend at the ISE amid increase in index. ISE Ten Index showed an improvement of 15.8 points as the ISE Ten
Published 06 Aug, 2014 12:00am
ISE index improves by 15.8 points

ISE index improves by 15.8 points

Bulls dominated the proceedings at the Islamabad Stock Exchange (ISE) on Tuesday, where equities continued to move in upward direction with positive trend at the ISE amid increase in index. ISE Ten Index showed an improvement of 15.8 points as the ISE Ten
Published 06 Aug, 2014 12:00am
BRIndex30 gains 93.58 points

BRIndex30 gains 93.58 points

On Tuesday, BRIndex30 opened at 16,253.77. It touched an intraday high of 16,438.86 and an intraday low of 16,249.18 and closed at 16,347.35, which was 93.58 points or 0.58 percent higher than previous close. Total volume was 72,601,700, which was 54.68 p
Published 06 Aug, 2014 12:00am
BRIndex30 gains 93.58 points

BRIndex30 gains 93.58 points

On Tuesday, BRIndex30 opened at 16,253.77. It touched an intraday high of 16,438.86 and an intraday low of 16,249.18 and closed at 16,347.35, which was 93.58 points or 0.58 percent higher than previous close. Total volume was 72,601,700, which was 54.68 p
Published 06 Aug, 2014 12:00am
Index inches up

Index inches up

After a bearish session, Karachi stock market on Tuesday closed higher supported by lower inflation and strong OGDCL earnings. The benchmark KSE-100 index gained 28.58 points to close at 29,676.41 points up from 29,647.83 points. "Stocks closed higher aft
Published 06 Aug, 2014 12:00am
Index inches up

Index inches up

After a bearish session, Karachi stock market on Tuesday closed higher supported by lower inflation and strong OGDCL earnings. The benchmark KSE-100 index gained 28.58 points to close at 29,676.41 points up from 29,647.83 points. "Stocks closed higher aft
Published 06 Aug, 2014 12:00am
Index inches up

Index inches up

After a bearish session, Karachi stock market on Tuesday closed higher supported by lower inflation and strong OGDCL earnings. The benchmark KSE-100 index gained 28.58 points to close at 29,676.41 points up from 29,647.83 points. "Stocks closed higher aft
Published 06 Aug, 2014 12:00am
British minister Sayeeda Warsi resigns over Gaza policy

British minister Sayeeda Warsi resigns over Gaza policy

A British minister who was the first Muslim to sit in the cabinet resigned on Tuesday over the government's "morally indefensible" policy on Gaza. The decision by Baroness Sayeeda Warsi, a minister at the Foreign Office and for faith and communities, heap
Published 06 Aug, 2014 12:00am
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