Kyrgyzstan on Thursday granted Austrian-based private equity vehicle, Global Gold GmbH, a licence to mine a gold deposit which has so far been developed by Britain's Oxus Gold Plc.
Aluminium inventories at warehouses monitored by the Shanghai Futures Exchange plunged more than 25 percent this week, with copper stocks down nearly 5 percent, as Chinese traders sold to overseas.
London white sugar futures closed firmer on trade buying against trade and speculative selling on Friday, and traders said they expected physical offtake to pick up after the recent sell-off. Benchmark October futures settled up $3.70 at $450.50 per tonne
Copper fell by over four percent on the London Metal Exchange (LME) at the close on Friday, taking the complex lower in nervous and very illiquid markets. "People are nervous, the markets are extremely thin and it has been relatively quiet," an LME floor
Oil held above $74 a barrel on Friday on concerns about escalating violence in the Middle East after Israel called up reservists in what could be a ground offensive against Hizbollah guerrillas. Israel ordered several thousand reserve soldiers to report f
Crop scouts are expected to see that scorching temperatures and dry conditions in the northern US Plains severely cut into spring wheat yields during a tour of the main production area next week, analysts said.
Prices for spot alumina, the raw material for aluminium, have fallen 16 percent this month and more than 30 percent since May due to higher-than-expected production in China, industry officials said on Friday.
UK-listed Copper Resources Corporation will start production at a 54,000 tonne-per-year mine in the DRC next year after signing a loan agreement, the company said on Friday.
Italian jewellery exports, mostly gold, may fall some 20-30 percent by volume in 2006 as competition from lower cost countries, high duties and a strong euro hit the industry, a sector expert said on Friday.
Malaysian palm oil giant Golden Hope Plantations Bhd wants to acquire more vegetable oil refineries in Europe and is currently looking at two or three options, a senior company official said on Friday.
Gold bounced in European trade on Friday as the metal's overnight drop of nearly two percent attracted bargain-hunters and physical buyers as the dollar eased. Gold had been under pressure from sustained selling as investors locked in profits, but the wea
Under a well-knitted plan effluent plants would be installed in five major industrial towns for combating environmental degradation in the country. Official sources told Business Recorder on Friday here that the proposed affluent plants would be in
Five more factories at Sundar Industrial Estate (SIE) will be operational by July 30, bringing the total number of units in production to eight. "About 40 units are under construction these days; SIE will have a great impact on the national economy when h
I refer to your issues of July 10 and 11 with particular reference to the wordy duel between eminent doctors Tariq Hassan and Salman Shah, blaming one another for the March 2005 stock exchange crash in Pakistan. This matter could have been dealt with by e
It refers to M.S. Hasan's letter appearing in the Business Recorder on July 15, 2006, raising certain points in the context of my article captioned, "The Facts regarding the Danka Controversy" published on July 1, 2006 in your esteemed paper.
For those worried about world energy supplies, a trip to the huge gas processing centre at Ras Laffan in Qatar's desert might offer reassurance -- but it's also unsettling. The statistics are as overwhelming as the mile upon mile of steel tubing, shimmeri
A week after Israel's air war on Lebanon, with some 250 civilians killed and much of the country's infrastructure destroyed, US President George Bush issued a threat against Syria. Declaring that Syria was "trying to get back into Lebanon," he warned agai
Adjudicating in Lahore on Wednesday in a case that involved abduction of nine members of a Sindhi landless peasant family, the Supreme Court remarked that 80 percent of the problems could be addressed if only the people observed the law. Coming as it does
In his wide-ranging, 70-minute televised address to the nation, President Musharraf unveiled his multi-dimensional vision for dealing with the issues of poverty, unemployment, inflation and power shortage in the country. He also dilated on the unrest in B
Institute of Cost and Management Accountants of Pakistan (ICMAP) is holding a seminar on 'Mutual Funds-An Investment Tool for General Public' on Saturday. According to ICMAP's spokesman, professionals would address the seminar. Punjab Minister for Finance
The auditor general of Pakistan on Friday conveyed his resentment to the Public Accounts Committee (PAC) over difficulties in conducting audit of government departments due to non-co-operation.
Faisalabad Chamber of Commerce and Industry (FCCI) has lauded the trade policy, sayings it will keep strengthening the country's export base. In a statement, FCCI President Mian Muhammad Hanif said since the government economic policies were good, the 18.
A division bench of the Lahore High Court (LHC) has dismissed a petition filed against a member of the provincial assembly Tahir Akhtar Malik due to non prosecution. The petitioner Zulfiqar Ghuman had approached the court against the respondent for riggin
The Supreme Court of Pakistan while taking serious notice of non-transfer of DPO Sialkot and police high-ups failure in deputing an honest and efficient police official for the recovery of one Bashir, has directed the law officer to approach the IG Punjab
The Chief Justice of Pakistan has called a report from District and Sessions Judge in a murder case of Malkani, who was in jail, registered against Malik Taj. The Chief Justice, while expressing astonishment, asked the D&SJ to submit a report within three
The Chief Justice of the Lahore High Court (LHC) made transfers and postings among 17 additional district and sessions judges. According to a notification, Additional District and Sessions Judge Khalid Naveed Dar has been transferred from Kalur Kot to Fer
District Nazim Mian Amer Mahmood has constituted a high-powered committee for probing sale of mortgaged plots, deposited by private housing societies with LDA as guarantee for construction of physical infrastructure, without completing development works i
Protesters belonging to various civil society organisations and politico religious parties on Friday staged a demonstration to protest and condemn the Israeli aggression against innocent people of Lebanon and Palestine.
Former Punjab governor and PPPP leader Malik Ghulam Mustafa Khar, while expressing grave concern over prevailing situation in the country, has requested Chief Justice of Pakistan to take suo motu notice on the issues of President in uniform and holding fr
Assistant Secretary of State, Political Military Affairs, Dr John F. Hillen has said "a confident and secure Pakistan will be a more reliable partner for the United States."
US Assistant Secretary of State for South and Central Asia has said the administration believes that it is in United States' "national interest" to proceed with the sale of F-16s to Pakistan. "Sale of F-16s," Richard Boucher said, "provides a clear and co
Three international universities would set up their campuses along the proposed motorway from Lahore to Sialkot while three industrial estates would also be established. This was informed in a meeting of Lahore-Sialkot Motorway Steering Committee, which w
In the first ever reaction to Israeli raid on Lebanon, Hurriyat Conference Chairman Syed Ali Shah Geelani terming it naked aggression, has called for a strike on Saturday.
The National Assembly's Public Accounts Committee on Friday strongly condemned Israel's ongoing naked aggression against Lebanon and Palestine, urging the world community to help end the Muslims' carnage.
US Principal Officer Brian Hunt called on Punjab Chief Minister Chaudhry Pervaiz Elahi here on Friday and discussed matters of mutual interest, development projects in Punjab and other affairs. Talking with Brian Hunt, the CM said that people of Pakistan
Minister for Parliamentary Affairs Dr Sher Afgan Khan Niazi said on Friday that President General Pervez Musharraf had taken detailed account of the internal issues and the situation in Middle East following Israeli aggression against Lebanon in his addre
Stating that United Nation Security Council (UNSC) reform of vital interest to all states, Pakistan has stressed that the process should cover both its enlargement and working methods. "Security Council reform must be comprehensive," Pakistan's Acting Per
A multi-dimensional plan, costing over rupees two billion, has been launched for weeding out the backwardness and to provide basic facilities to the people of Chawinda of Sialkot district.
The Punjab government has announced a substantial grant of one and a half billion rupees for uplift of sewerage and drainage system at Gujranwala city. The grant when released shall be utilised to replace broken and damaged gutter pipes, said Managing Dir
Faisalabad Electric Supply Corporation (Fesco) has started purchasing electricity from the Private Power Producers (PPPs) to overcome the persistent power crisis and supply uninterrupted electricity to the consumers.
Sialkot District Nazim Muhammad Akmal Cheema has directed the elected representatives of district assembly to immediately submit their development schemes so that work on the development projects could be initiated.
Suparco is engaged in mega projects of national importance, including implementation of the National Satellite Development Programme (NSDP), which also includes design development/manufacturing, launch and operations of a National Communication Satellite
The NWFP University of Engineering and Technology (UET), in pursuance with the policy of initiating cutting-edge disciplines in the field of engineering, has decided to start industrial engineering from this year. The decision of establishing a full fledg
Bank Alfalah Limited has opened its branch in Bannu district to facilitate the people of the area, said a release issued here on Friday. The newly started branch will have full online connectivity and a complete range of modern banking facility. Ahmad Ali
A German company TPR Fiber would invest one billion euros in a joint venture with Union Group of Companies (UGCs) to set up oil rigs assembly and water pipe plants in Rawalpindi employing over 500 people.
A new workforce rationalisation plan is being prepared to productively utilise surplus staff at the culmination of CBR reforms programme. Sources told Business Recorder on Friday.
Peshawar Electricity Supply Company (Pesco) has Rs 284.23 million outstanding against the consumers, medical and relief camps and tent villages for providing free electricity to the quake affected areas. For the recovery of the amount the company has appr
The 208th Urs of eminent Punjabi poet Hazrat Baba Waris Shah is being started at Jandiala Sher Khan from Sunday. Faithful from across the country and abroad will attend the Urs festivities which will continue till July 25.
The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).
The Afghan government has agreed to free 17 Pakistani prisoners while a joint committee has been formed to pursue the cases of the other detainees, Interior Ministry officials said on Friday. The decision was taken during a two-day meeting held in Kabul t
Prime Minister Shaukat Aziz has said Pakistan wants peaceful settlement of all outstanding issues with India including the core issue of Jammu & Kashmir in line with the wishes and aspirations of the people of Kashmir to ensure sustainable peace in the re
The Capital City Police Karachi (CCPK) has recovered one SMG, one rocket launcher, nine rifles, six repeater guns, 201 pistols, six revolvers, while arresting 68 culprits, and killing nine dacoits in police encounters during last 20 days.
The Kutch police on Thursday seized a Pakistani fishing boat and arrested six persons off the Koteshwar coast of Indian Gujarat state. The seizure of boat and arrest of fishermen for straying into the territory of either country are a common feature.
"Terrorism and extremism are a by-products of military regimes and can be fought best by a democratically elected government". This was stated by the chairperson Pakistan Peoples Party and former prime minister Benazir Bhutto in an interview to the Indian
The United Nations Development Programme (UNDP) on Friday signed here a Memorandum of Understanding (MoU) with Orix Leasing Pakistan and First Microfinance Bank Limited (FMFB) to help poverty reduction by providing financial support to women in Pakistan.
Federal Secretary Election Commission of Pakistan (ECP) Kanwar Muhammad Dilshad presided over a meeting in the office of the Election Commissioner Punjab to review the preparation of fresh computerised electoral rolls 2006-2007.
The Capital Development Authority Development Working Party (CDADWP) on Thursday approved 10 development schemes costing over Rs 540 million. The meeting to this effect held here with CDA Chairman Kamran Lashari in the chair. Besides, CDA officials, repre
All Pakistan Textile Mills Association (Aptma) has expressed fear that the government's vision of $20 billion export target may not be achieved, provided the government provides relief package to the spinning sector.
Two people, including a girl, were killed in different incidents here on Friday. A 25-year girl was shot dead by some unknown armed people at Super Highway near new Sabzi Mandi in the jurisdiction of Sachal Police Station on Friday. The body of deceased w
A concerted effort is being made by the Intellectual Property Organisation (IPO), government of Pakistan with the assistance of European Union (EU) and World Intellectual Property Organisation (Wipo) to protect Pakistan's super basmati rice from infringem
Pakistan's first interactive event "FunFoodFitness" organised by Eventage Promotions has formally started at Karachi Expo Centre here on Friday. This three-day event was inaugurated by special children from various schools courtesy by renowned artist and
Taking serious note of ever increasing traffic problems in the city, Sindh Governor Dr Ishratul Ibad Khan on Friday directed the concerned authorities to complete the under-construction roads in three months.
Half of the city plunged into darkness at exact 8:30pm on Thursday when the announcement at PTV about the address of President Pervez Musharraf to the nation was over and the Qari sahib had begun recitation from the Holy Quran.
A six-member Chinese delegation, led by Gou Husbeng, Vice President/Chief Economist of Chinese Team of Economic Co-operation Group, has arrived in Karachi for a five-day visit to the city. The delegation visited Chinese Consulate in Karachi on Friday. It
The rupee failed to maintain its firmness in the open market on Friday, dropping 10 paisa versus the dollar for buying and selling at 60.70 and 60.80, respectively. Continued demand for dollars did not allow the rupee to hold its firmness, dealers said.
The issue of power loadshedding in Karachi could be brought down to a major extent by introducing solar energy to light the streetlights, as this would save electricity in three major areas of the city.
The rupee failed to maintain its firmness in the open market on Friday, dropping 10 paisa versus the dollar for buying and selling at 60.70 and 60.80, respectively. Continued demand for dollars did not allow the rupee to hold its firmness, dealers said.
Export Promotion Bureau has received the following International Tenders from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details of Tenders from the addresses given or from EPB Head Quarters and its Region
This review encompasses two periods ie last financial year's (2004-05) nine months from July 2004 to June 2005 and cumulative three quarters (9 months) of current financial year 2005-06.
No loadshedding was being carried out in industrial areas of Karachi confirmed Division Director, Customer Service of Karachi Electric Supply Corporation (KESC), Jamil Gul in a meeting with Vice President of Federation of Pakistan Chambers of Commerce and
This review encompasses two periods ie last financial year's (2004-05) nine months from July 2004 to June 2005 and cumulative three quarters (9 months) of current financial year 2005-06.
Kenyan High Commissioner Mishi Masika Mwatsahu has termed the University of Faisalabad (TUF) a centre of excellence with a vision to cater to the future needs of Pakistan. Speaking at a function, to the faculty and the university students, she appreciated
Prime Minister Shaukat Aziz has directed the Auditors General of Pakistan not to entertain any bill for payment where integrity pact has not been signed. Provincial governments have also been requested to adopt the policy of including the integrity clause
Commerce Minister Humayun Akhtar and Foreign Ministers of Mercosur trade bloc comprising Argentina, Brazil, Paraguay and Uruguay, on Friday signed framework agreement on trade. With the signing of the agreement, Pakistan and Mercosur member states would i
Commerce Minister Humayun Akhtar and Foreign Ministers of Mercosur trade bloc comprising Argentina, Brazil, Paraguay and Uruguay, on Friday signed framework agreement on trade. With the signing of the agreement, Pakistan and Mercosur member states would i
Commerce Minister Humayun Akhtar and Foreign Ministers of Mercosur trade bloc comprising Argentina, Brazil, Paraguay and Uruguay, on Friday signed framework agreement on trade. With the signing of the agreement, Pakistan and Mercosur member states would i