The Pakistan Credit Rating Agency (Pacra) has assigned a rating of 'AA' (double A minus) to the proposed unsecured, subordinated term finance certificates issue of Rs 1,500 million by Bank Alfalah Limited.
The Pakistan Telecommunication Company Limited (PTCL) is prepared to install 2.3 million Wireless Loop Line (WLL) within a short period. Chairman PTCL, Zaffar A Khan while talking to APP here on Friday pointed out that PTCL had acquired the WLL licence an
Executive Director, Punjab Institute of Mental Health (PIMH), Brigadier Dr Saeed A. Akhtar (Retd) has been given one-year extension to continue on the same post. Dr Saeed was on contractual appointment in Grade-20 as executive director in PIMH. His contra
The Privatisation Commission has provided Rs 240.412 billion, from the proceeds of 26 public sector units privatised since November 2002 till to-date, to the finance ministry, sources at PC told Business Recorder here on Friday.
A four-member interior ministry delegation is due to leave on Sunday for Turkey to attend a meeting of the Pak-Turkish joint commission set up to strengthen bilateral co-operation in combating terrorism and organised crime.
The refusal of Speaker National Assembly to allow a debate on devastation caused by floods and heavy rains in the NWFP triggered an opposition walkout on Friday. Earlier, Muttahida Majlis-i-Amal (MMA) and Pakistan Muslim League (N) also walked out from th
A historian once said, "those who don't learn from unpleasant events, one day become part of such events". Flash floods and rains in May and June this year wreaked havoc in Nowshehra, Peshawar and elsewhere.
The Pakistan Credit Rating Agency (Pacra) has assigned a rating of 'AA' (double A minus) to the proposed unsecured, subordinated term finance certificates issue of Rs 1,500 million by Bank Alfalah Limited.
A reported plan of the Pakistan Telecommunication Company Limited (PTCL) management to terminate over 4,000 of its low-ranked contract employees and the government's inability to undo the move sparked a strong protest from the treasury members in the Sena
Ten candidates were left in the field for City Nazim Karachi election when nomination papers of two candidates were rejected by Returning Officer (RO) on Friday.
The Azad Jammu and Kashmir (AJK) Cabinet on Friday asked India to respond positively to President Pervez Musharraf's call for reduction in troops deployment in occupied Kashmir.
Prime Minister Shaukat Aziz will have a busy schedule when he arrives here on Saturday on a daylong visit. He will launch various development schemes and announce package for development of Gwadar city as well as incentive package for investors in Gwadar
General Liang Guanglie, member of the Central Military Commission and Chief of the General Staff of the People's Liberation Army (PLA) held talks with General Ehsan-ul-Haq, Chairman of the Joint Chiefs of Staff Committee and pledged to further strengthen
The profile of this nascent Leasing Company emerges as the one which facilitates the lessee by providing cash flow benefits, an alternate source of funding, avoidance of dilution of share ownership, time efficiency and above all tax efficiency - the attri
Chinese President Hu Jintao on Thursday thanked Pakistan for supporting China at international fora on various issues. The Chinese President conveyed the sentiments at a meeting with President General Pervez Musharraf at the United Nations headquarters.
The profile of this nascent Leasing Company emerges as the one which facilitates the lessee by providing cash flow benefits, an alternate source of funding, avoidance of dilution of share ownership, time efficiency and above all tax efficiency - the attri
Advisor to Finance Ministry, Dr Ashfaq Hassan on Thursday said that government was taking steps to improve tax collection to Gross Domestic Product (GDP) ratio.
The residents of Karachi heaved a sigh of relief on Friday as storm hitting the city coupled with heavy rains passed away bringing joy especially to the people residing in low-lying areas of the city.
The Government College University Lahore School of Mathematical Sciences (SMS) has quite a good number of foreign faculty members in mathematics hired on a long-term basis under the Higher Education Commission (HEC) Foreign Faculty Hiring Scheme.
Yields on the BMA-PGBI decreased by approximately 3 bps and its value increased by 0.12% to close at 98.323. Yields decreased across the length of the yield curve. In the short tenors, yields decreased by 1 to 2 basis points, while in the medium tenors, y
A free eye camp is being organised at Muhammad Sadiq, Hajira Bibi Memorial Hospital, 18-km, Sheikhupura-Faisalabad Road, district Sheikhupura from 26th September to 1st October 2005.
Increase in population is causing threat to stability of country's economy and Pakistan needs an extra 5.67 billion dollars investment annually to create additional GNP of 1.89 billion dollars required to meet the 2.9 million per annum increase in country
Karachi Water and Sewerage Board (KW&SB) will start repair work on 48-inch dia water pipeline in Azam Nagar of Liaquatabad from September 21 to be completed in three days.
Cash & Carry wholesale stores will be established in different cities of Sindh, particularly at important trade centres of Karachi. A variety of goods will be available on cash as well as credit in these stores.
Prime Minister Shaukat Aziz said on Friday that water security was an essential requirement for the future development in Pakistan. He was talking to A.N.G. Abbassi Chairman Technical Committee on Water Resources who paid a farewell call on him here at th
Pakistan and India are expected to agree next month to restart a ferry service that was broken off 30 years ago, Port and Shipping Minister Babar Khan Ghouri said on Friday.
Yields on the BMA-PGBI decreased by approximately 3 bps and its value increased by 0.12% to close at 98.323. Yields decreased across the length of the yield curve. In the short tenors, yields decreased by 1 to 2 basis points, while in the medium tenors, y
The Lahore High Court (LHC) has directed the government to arrange medical treatment of a jail inmate Tariq Sharif and submit a report to the court by September 26.
Standard Chartered PLC Chairman Bryan Sanderson was in Islamabad last week on a two-day visit to Pakistan. This was Sanderson's first visit to Pakistan. His visit is a strong reflection on the bank's growing commitment to the country.
Joint Action Committee for People's Rights, comprising male and female activists and workers of several local NGOs, on Friday held a protest demonstration in front of Karachi Press Club (KPC) against President General Pervez Musharraf's remarks against lo
The administration of Sui Southern Gas Company (SSGC) on Friday instructed all the owners of CNG stations not to use gas in excess of their allowed limits.
Prime Minister Shaukat Aziz on Friday said that energy conservation plan was being drawn and it would be unveiled soon to deal with wasteful use of fuel, conservation of energies being received from different sources and protection against environmental d
The Managing Committee of the Rice Exporters Association of Pakistan (Reap) will elect the Chairman and Vice Chairman of the association on September 17.
Pakistani and Indian business leaders have urged their governments to open up and liberalise their economies for national development. The call was made by FPCCI President Muhammad Saeed and leader of the Indian delegation Rajesh Kapadia at a meeting betw
Philippines shares prices closed 0.35 percent higher on Friday on mild bargain hunting in telecom and banking stocks, dealers said. They said concerns over a possible interest rate increase to head off inflation pressures and doubts about the implementati
US Treasury debt prices slid on Thursday after data showing a massive jump in manufacturing costs in September generated anxiety about rising inflation in the wake of Hurricane Katrina.
US Treasury debt prices slid on Thursday after data showing a massive jump in manufacturing costs in September generated anxiety about rising inflation in the wake of Hurricane Katrina.
Seoul shares set a record closing high on Friday, led by steel makers such as POSCO on expectations for higher product prices, while stocks focused on domestic demand rose on sustained optimism about a pick up in the economy.
US stocks were little changed on Thursday as a report showing weaker growth offset reassuring data on inflation, and investors were cautious about the Federal Reserve's interest-rate policy for the remainder of the year.
Hong Kong stocks closed at their lowest level so far this month on Friday, down 0.4 percent, as investors priced in a US interest rate rise next week. Property stocks were among the biggest losers in quiet trade ahead of a long weekend.
Taiwan stocks dipped 0.84 percent on Friday to their lowest close in 3-1/2 months, with tech heavyweights like display screen maker AU Optronics Corp tracking losses in US counterparts.
The United States threatened to freeze North Korean assets if the reclusive state did not toe the line in talks aimed at ending its nuclear weapons programme, but a new proposal from China raised hopes for progress.
Conservative leader Angela Merkel's centre-right alliance has re-established a slight poll lead over its leftist rivals two days before an election that could decide the fate of Germany's long-cherished welfare state.
The United States does not deserve foreign aid in the wake of hurricane Katrina given the amount of money it spends on military campaigns in Iraq and Afghanistan, a senior Iranian cleric said on Friday.
The Philippine government and separatist rebels have resumed informal talks after a two-month break, hoping to strike a deal on ending nearly 40 years of conflict, rebel and government officials said on Friday.
A US peace activist has been expelled from Australia over security concerns and handed an A$11,700 ($9,000) bill to cover his detention and deportation costs.
Envoys from the European Union's member states on Friday failed again to agree on how to respond to Turkey's refusal to recognise Cyprus, with talks likely to continue on Monday, EU diplomats said.
Nepalese police arrested Friday nearly 250 people, including 78 journalists, who were staging a protest calling for restoration of press freedoms curbed when King Gyanendra seized power.
Russia has shelved a plan to give the Palestinians 50 armoured personnel carriers after Middle East peace brokers told Moscow it could harm efforts to stabilise the region, diplomatic sources said on Friday.
Tropical Storm Ophelia edged away from the US East Coast on Friday and began a slow crawl toward New England and Canada after pounding the Carolinas for two days with heavy rains.
Digital mammograms are more accurate at detecting breast cancer than traditional film mammograms in women who are premenopausal, under age 50, or who have dense breasts, according to results from a study of nearly 43,000 women released on Friday.
Some 100,000 people had been evacuated by Friday morning from India's western Maharashtra state as heavy rains and waters released from dams flooded large areas, officials said.
Toronto stocks backed off from earlier session highs, but remained in positive territory on Thursday, as gold and energy shares kept the market close to its key 11,000 point mark.
US consumer confidence plummeted to a 13-year low in early September, battered by record high gasoline prices and the full force of Hurricane Katrina, a report showed on Friday. Separate data showed the US current account deficit, the broadest measure of
US Treasury Secretary John Snow on Friday said Hurricane Katrina clean-up costs will drive US deficits higher but said the country can afford it. "We can afford an increase in the deficit for a year or so," Snow said in an interview on Fox News.
"Old" European Union members could benefit from letting workers in from the ten newcomers, the European Commission said on Friday. The EU's 15 old members secured the right to restrict access to their job markets for up to seven years to workers from the
The UK's corporate governance watchdog, the Financial Reporting Council, opposes mandatory company audit committees, which the European Parliament is due to adopt at the end of September, its Chief Executive told Reuters.
North Korea announced on Friday the introduction of the Stalinist country's first credit card, but just how it would work was unclear. "The North East Asia Bank of the Democratic People's Republic of Korea has introduced (an) IC credit card ... in order t
The world should stop dwelling on the consequences of the US war in Iraq and move on to resolving problems like Kashmir and the Palestinian conflict, President Pervez Musharraf said on Friday.
US Airways said Friday it won court approval of its reorganisation plan that would allow the carrier to exit bankruptcy protection and merge with America West Airlines as early as September 27.
The world should stop dwelling on the consequences of the US war in Iraq and move on to resolving problems like Kashmir and the Palestinian conflict, President Pervez Musharraf said on Friday.
Discussions between India and Boeing on building two-tonne communication satellites have been called off as the US firm has changed its business strategy, an official said Friday.
The Consumer Price Index (CPI) in August declined to 8.41 percent as it was 9.24 percent during the corresponding month of the last year. While inflation in July-August 2005-06 also registered 8.7 percent decline over the corresponding period of the last
Russia's Gazprom on Friday unveiled a short list of five foreign companies being considered as partners in a $20 billion Arctic gas project that could supply US markets for half a century.
The Consumer Price Index (CPI) in August declined to 8.41 percent as it was 9.24 percent during the corresponding month of the last year. While inflation in July-August 2005-06 also registered 8.7 percent decline over the corresponding period of the last
Iraq said on Friday it completed its first step toward settling approximately $20 billion in outstanding debt owed to the private sector accumulated during the era of Saddam Hussein.
The Consumer Price Index (CPI) in August declined to 8.41 percent as it was 9.24 percent during the corresponding month of the last year. While inflation in July-August 2005-06 also registered 8.7 percent decline over the corresponding period of the last
Violence in Iraq has slowed reconstruction and economic recovery more than expected, the World Bank said on Thursday in a grim assessment of the country's immediate hopes for recovery.
The government is considering hedging a sizeable chunk of its oil bill after it rose 20 percent to $3.8 billion in the 2004-05 fiscal year due to a surge in global oil prices, a senior official said on Friday.
China's 25-year economic miracle is likely to be sustained for "some time" and its booming economy should grow by 9.0 percent this year and 9.2 percent in 2006, the OECD said in a new report Friday.
The government is considering hedging a sizeable chunk of its oil bill after it rose 20 percent to $3.8 billion in the 2004-05 fiscal year due to a surge in global oil prices, a senior official said on Friday.
The United States is willing to cut farm subsidies to secure a new world trade deal, but wants greater export opportunities for its farmers in return, a senior US official said on Friday.