Prime Minister Shaukat Aziz will meet the newly reconstituted board of directors of Pakistan Steel Mills at the Prime Minister House here on Thursday, official sources told Business Recorder here on Wednesday. The new members of the PSM board of di
Shahzad International Chief Executive Officer, Zaheeruddin called on Minister for Petroleum and Natural Resources, Amanullah Khan Jadoon here on Wednesday. During the meeting, Zaheeruddin briefed the minister on the ongoing projects of his company, which,
Joint opposition on Wednesday grilled the government in the Senate over the issue of exploitation of sugarcane growers at the hands of mill owners, as they are being paid low prices of their produce. Opposition Senator, Abdullah Riar said, "sugar mill own
The resource team of Commonwealth Parliamentary Association (CPA), led by the member of British Parliament, Cherlyl Gillan called on Chairman Senate, Muhammadmian Soomro, here on Wednesday. The matters pertaining to the promotion of the parliamentary co-o
Speakers at a seminar on Wednesday expressed grave concern over the growing physical and mental disorders, caused by polluted environment as well as toxic wastes which are defacing natural beauty of environment, and called for concerted and integrated eff
The Ministry for Food, Agriculture and Livestock (Minfal) has decided to bring 34 branded pesticides on the generic list after expiry of their patent rights. A notification issued by the Federal Food Agriculture and Livestock Minister Sikandar Hayat Bosan
Terming the productivity as baseline for the economy of a country, President Rawalpindi Chamber of Commerce and Industry (RCCI) Najam Rehan has said that government should put its emphasis on the productivity in industrial as well as agriculture sector fo
The power-generating windmills are being set up on 19,700 acres of land in Sindh coastal areas to provide citizens with cheap electricity. A Alternate Energy Board (AEB) delegation stated this here on Wednesday, adding that the project would be started fr
Adamjee Insurance Company Limited, an associated company of Muslim Commercial Bank Limited, is expected to develop Islamic insurance products soon. Chairman, Muslim Commercial Bank Limited (MCB), Muhammad Mansha, said this at a function following the inau
The NWFP Chief Minister Akram Khan Durrani has directed for improved intelligence gathering mechanism and foolproof security arrangements to ensure peace in the holy month of Muharram. The MMA government was not lacking the will, determination and
The Islamabad Electric Supply Company (Iesco) has recovered Rs 13,355 million during the last six months. The line losses of the company were also reduced by 1.2 percent as compared to the previous year. In all, 4,047 pilferage cases were detected and Rs
The vision of the leadership in the company is to transform this institution into a diversified financial super market catering to the needs of a broad array of clients. They also envision to maintain their market dominance and superior leadership. The co
The Muharram moon has not been sighted and, therefore, the first of Muharram, 1426 AH, will fall on Friday, February 11, according to an announcement carried over television channels. All arrangements have been finalised to ensure law and or
The vision of the leadership in the company is to transform this institution into a diversified financial super market catering to the needs of a broad array of clients. They also envision to maintain their market dominance and superior leadership. The co
The NWFP Minister for Local Government and Rural Development, Sardar Muhammad Idrees said on Wednesday that the NWFP government had not asked federal government to appoint administrators in districts before the upcoming local government elections. "If the
The rupee on Wednesday managed to gain 15 paisa versus dollar in the open market at Rs 59.50 and Rs 59.60 for buying and selling, respectively, dealers said. The rupee gained modestly on easy supply of dollars, experts said, and added that it might show m
Pakistan Coast Guards officials have arrested two drug peddlers at the Uthal check-post, and recovered 1,055 kg hashish and 28-kg opium costing million of rupees, a press release of the PCG said on Wednesday. The arrest of the peddlers became possible aft
Pakistan will likely buy white sugar vigorously after removal of import duty on both raw and white sugar as it is now late to import much more raw sugar for refining in the domestic crush, operators said on Wednesday. Market sources estimated Pakistan cou
The Central Board of Revenue (CBR) has decided to seek viewpoint of Commerce Ministry and Ministry of Industries and Production before launching customs amnesty scheme for the regularisation of non-duty paid smuggled cars. Official sources told Busines
The Central Board of Revenue (CBR) has decided to seek viewpoint of Commerce Ministry and Ministry of Industries and Production before launching customs amnesty scheme for the regularisation of non-duty paid smuggled cars. Official sources told Busines
Pakistan and Saudi Arabia on Wednesday agreed to establish an "Islamic Commercial Bank" in Pakistan and a leasing company in Saudi Arabia in a joint venture to promote trade and investment between the two brotherly countries. Both the countries also agree
Pakistan and Saudi Arabia on Wednesday agreed to establish an "Islamic Commercial Bank" in Pakistan and a leasing company in Saudi Arabia in a joint venture to promote trade and investment between the two brotherly countries. Both the countries also agree
The Central Board of Revenue (CBR) has decided to approach Ministry of Industries and Production to obtain their viewpoint on the withdrawal of ban on import of second-hand auto parts, which are 'not manufactured locally'. In this connection, the CBR has
Pakistan will likely buy white sugar vigorously after removal of import duty on both raw and white sugar as it is now late to import much more raw sugar for refining in the domestic crush, operators said on Wednesday. Market sources estimated Pakistan cou
A four-member World Bank team on Wednesday visited the Karachi Fish Harbour (KFH), and expressed their satisfaction over the cleanliness and standard. The team was comprised Eric D. Manes from South Asian Region WB, Kent R. Ford, MD, Global Development So
There is legal dichotomy with regard to the regulation of the electronic media, according to the former Chief Justice of Pakistan, Dr Nasim Hasan Shah. Speaking at a seminar on Electronic Media Freedom Day, organised by the Citizens Media Commission of Pa
Minister for Information and Broadcasting Sheikh Rashid Ahmed on Wednesday categorically stated that solution of all issues with India lies in the peaceful settlement of Indian occupied Kashmir issue. "We want to have composite dialogue with India on all
Three dacoits and as many policemen were killed in an encounter with criminals here on Wednesday morning, while a citizen was gunned down by the criminals earlier during a dacoity. According to police sources, four armed dacoits barged into the house of o
The opposition senators on Wednesday warned of 'dire' repercussions of what they termed the government's blind and over-aggressive privatisation policy, as the House opened a debate on Karachi Electric Supply Company (KESC) sell-off after opposition and m
Sugar is sweet, but, paradoxically, it badly soured the proceedings of the Senate Wednesday night. A question by Anwer Bhinder about the price at which the sugar mills purchased the sugarcane from the growers generated so much heat that the concerned mini
Ukraine, among the world's leading agriculture producers, intends to establish an aggressive export policy and encourage local farmers to sell abroad, Ukraine's new farm minister said on Wednesday. "We will conduct an aggressive export policy. We will do
Mexican stocks rose to a fourth straight record close on Tuesday, led by Walmex after the retailer reported strongly improved profits, but the peso lost ground. The benchmark IPC stock index added 0.24 percent to finish at 13,508.50 points. In stock tradi
US Treasury debt prices were mixed on Tuesday, with investors again favouring longer-dated debt as they bet that rising official interest rates would narrow the gap between short- and long-term yields. Beating the pack, the 30-year bond soared anew, boost
US Treasury debt prices were mixed on Tuesday, with investors again favouring longer-dated debt as they bet that rising official interest rates would narrow the gap between short- and long-term yields. Beating the pack, the 30-year bond soared anew, boost
Thai share prices closed 0.58 percent higher on Wednesday in unexpectedly lively Lunar New Year trading despite little to give the market direction, analysts said. The Stock Exchange of Thailand (SET) index rose 4.21 points to close at 735.63, while the b
US stocks nudged higher on Tuesday, helped by a jump in drug maker Pfizer Inc, while gains in semiconductor shares helped support the tech-dominated Nasdaq index. After the closing bell, technology bellwether Cisco Systems Inc fell more than 2 percent to
Philippines share prices closed flat on Wednesday due to profit-taking after a two-day upturn, but buying in companies expected to announce robust profits for 2004 limited declines, dealers said. They said investors were expected to continue cashing-in ga
Indian shares rose on Wednesday on growing expectations the federal budget later in the month will spur foreign investment, but the rupee slipped on suspected central bank intervention. The 30-share Mumbai Stock Exchange index closed 0.75 percent higher a
Japanese government bond (JGB) futures suffered their biggest fall in seven months on Wednesday, hit by sluggish sales of newly auctioned five-year bonds in the secondary market and after a slide in the yen to two-month lows. The auction of mid-term bonds
Japanese government bond (JGB) futures suffered their biggest fall in seven months on Wednesday, hit by sluggish sales of newly auctioned five-year bonds in the secondary market and after a slide in the yen to two-month lows. The auction of mid-term bonds
India's state-run aerospace industry aims to take a page out of the IT sector's book by promoting itself as a potential offshoring base for foreign companies, Defence Minister Pranab Mukherjee said on Wednesday. Joint ventures that take advantage of India
Inventories at US wholesalers rose a smaller-than-expected 0.4 percent in December as sales of durable goods like cars and furniture accelerated, the Commerce Department said on Wednesday. Wall Street economists had expected wholesale inventories to rise
Euronext squared up to Deutsche Boerse in their $2.5 billion battle for the London Stock Exchange on Wednesday, saying its planned cash bid would wring twice the benefits as that of its German rival. The winner would become the world's second-biggest stoc
Yukos's main owner, Menatep, said it served a damages claim of $28.3 billion against the Russian government on Wednesday for expropriating its investment in the stricken oil company. Tim Osborne, Menatep's managing director, told Reuters the claim rested
Cisco Systems Inc, the largest maker of communications gear to direct traffic over the Internet, on Tuesday said quarterly earnings rose, but shares fell in after market trading amid concerns about weak revenue and rising inventory. Revenue in the fiscal
Cisco Systems Inc, the largest maker of communications gear to direct traffic over the Internet, on Tuesday said quarterly earnings rose, but shares fell in after market trading amid concerns about weak revenue and rising inventory. Revenue in the fiscal
Hewlett-Packard Co on Wednesday ousted Chairman and Chief Executive Carly Fiorina, one of the most powerful women in US business, after disagreements with the company's board over strategy. Shares of HP, a component of the Dow Jones industrial average, ro
Hewlett-Packard Co on Wednesday ousted Chairman and Chief Executive Carly Fiorina, one of the most powerful women in US business, after disagreements with the company's board over strategy. Shares of HP, a component of the Dow Jones industrial average, ro
American International Group Inc, the world's largest insurer by market value, on Wednesday said fourth quarter profit rose 11 percent as higher earnings from premiums and investments helped offset charges from storms and litigation. Net income for New Yo
American International Group Inc, the world's largest insurer by market value, on Wednesday said fourth quarter profit rose 11 percent as higher earnings from premiums and investments helped offset charges from storms and litigation. Net income for New Yo
Airbus installed a new management team in Tokyo on Wednesday as the European plane maker set its sights on increasing market share in a country long dominated by US rival Boeing Co Airbus named former US trade official Glen S. Fukushima as president and c
France's lower house of parliament approved a government plan to relax the 35-hour working week at its first reading on Wednesday, despite fierce opposition from unions and the threat of further street protests. The National Assembly voted for the planned
South Africa's Mineral & Energy Affairs Minister Phumzile Mlambo-Ngcuka said on Wednesday she opposed the idea of selling IMF gold, one of several proposals to use its gold reserves for debt relief. Mlambo-Ngcuka told Reuters at an African mining conferen
Pressure on the German government to ease its corporate tax burden mounted on Wednesday even though Finance Minister Hans Eichel said the country cannot afford further tax cuts due to its precarious budget situation. Industry leaders said Germany needed t
The next time a bank suspects one of its customers may not have bought a 4,999 euro ($6,424) gold chain with a credit card, the computer will send them an alert SMS message within minutes, MasterCard said on Wednesday. Or at least, that is what the credit
Russian conglomerate AFK Sistema raised $1.56 billion in an initial public offering in London on Wednesday, valuing the company at above $8 billion and making it the largest ever Russian flotation. The sale will leave Sistema President Vladimir Yevtushenk
Three Bank of America Corp brokerage units agreed to pay $375 million to settle market timing charges, the US Securities and Exchange Commission said on Wednesday. The SEC charged that Banc of America Capital Management LLC, BACAP Distributors LLC, and Ba
Toyota Motor Corp, the world's No 2 auto maker, on Wednesday named an executive who is now primarily in charge of purchasing as its next president and promoted a Toyoda family scion as his possible successor. Katsuaki Watanabe, one of Toyota's six vice pr
Armed with strong sales figures, the chairman of French advertising firm Havas threw down the gauntlet to corporate raider Vincent Bollore on Wednesday saying he was ready to confront the group's top shareholder in May. The world's sixth-largest advertisi
Armed with strong sales figures, the chairman of French advertising firm Havas threw down the gauntlet to corporate raider Vincent Bollore on Wednesday saying he was ready to confront the group's top shareholder in May. The world's sixth-largest advertisi
Hewlett-Packard Co and Dell Inc, two of the world's largest personal computer makers, boosted their market share in Japan in 2004, helped by aggressive pricing and effective ad campaigns, a research firm said on Wednesday. Dell emerged as the third-larges
Hewlett-Packard Co and Dell Inc, two of the world's largest personal computer makers, boosted their market share in Japan in 2004, helped by aggressive pricing and effective ad campaigns, a research firm said on Wednesday. Dell emerged as the third-larges
The French National Assembly was on Wednesday to approve a reform of the controversial 35-hour working week - the Socialist measure introduced to cut unemployment but which is blamed by the right for doing exactly the reverse. After several delays caused
Japan's Elpida Memory Inc said on Wednesday it would supply DRAM microchips for Sony Corp's next-generation PlayStation game console, a move that could significantly bump up demand for its advanced chips. Elpida said Toshiba Corp and South Korea's Samsung
The European Commission on Wednesday gave Greece an additional year to cut its budget deficit to below the European Union ceiling of 3 percent of gross domestic product. The EU executive said in a statement it had recommended extending until 2006 from 200
German drug-maker Schering reported an 11-percent rise in 2004 operating profit and forecast higher margins for this year, but disappointment over vague guidance on key products dragged shares lower. The world's top producer of oral contraceptives by volu
German drug-maker Schering reported an 11-percent rise in 2004 operating profit and forecast higher margins for this year, but disappointment over vague guidance on key products dragged shares lower. The world's top producer of oral contraceptives by volu
Bank of Japan policy board member Miyako Suda suggested on Wednesday the central bank could soon tweak its ultra-easy monetary policy - a move she insists would be technical but which could be taken as policy tightening. Suda said the BoJ could allow bank
Gains in Tokyo helped gold stay around $412 an ounce in Asia on Wednesday after it fell to its lowest levels in almost four months in London amid a strong dollar and worries about possible sales of IMF gold. Trading was thin with the physical markets in H
US gold futures fell for the fourth straight session Tuesday to close at 4-1/2-month lows, as dealers took their cue from a mostly firmer dollar against key currencies, dealers and analysts said. A recently higher dollar against the euro, coupled with the
Tokyo gold futures firmed in thin trade on Wednesday, recovering to levels seen a week earlier as the yen stayed within sight of a two-month low against the dollar. The benchmark December gold contract on the Tokyo Commodity Exchange finished up four yen
US copper futures ended barely lower on Tuesday, trimming deeper losses as the dollar's gains caved in to profit taking, traders said. Copper slipped in early business, pressured by a firmer dollar and a surge in copper inventories at London Metal Exchang
Oil prices ticked lower on Wednesday but held above $45 a barrel as dealers awaited fresh US fuel supply data, which is expected to show rising crude and gasoline inventories. US light crude slipped 11 cents to $45.29 a barrel, continuing a gradual declin
Chicago Board of Trade rough rice futures closed firm on Tuesday, supported by light commercial buying, traders said. Otherwise, trade was exceptionally quiet before the US Department of Agriculture released its monthly supply and demand data on Wednesday
Soybean futures at the Chicago Board of Trade closed mostly higher on Tuesday in follow-through technical buying from Monday, traders said. The market was technically oversold going into the session after last week's drop below $5 for the first time in 2-
Tokyo rubber futures advanced for the third straight day on Wednesday, with the benchmark contract soaring to the highest level in almost four months as a falling yen and bullish technical signs fuelled buying interest. The July rubber contract on the Tok