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Print - 2006-07-28
CBR transfers and postings

CBR transfers and postings

The Central Board of Revenue (CBR) on Thursday transferred and posted 56 income tax officials (grade 17-18) with immediate effect.
Published 28 Jul, 2006 12:00am
Fountain House to provide internship

Fountain House to provide internship

Fountain House a leading institution engaged in rehabilitation of mentally ill would provide internship programme in international capacity. A number of medical personnel would join the esteemed medical house for internship in future in this context. This
Published 28 Jul, 2006 12:00am
Edhi Foundation donates three ambulances to LHRC

Edhi Foundation donates three ambulances to LHRC

Edhi Foundation delegation has donated three ambulances worth $96,000 to the Lebanese High Relief Commission (LHRC) as part of its aid trip to Lebanon to offer relief supplies to the refugees.
Published 28 Jul, 2006 12:00am
WWF-P for prevention of Hingol Park

WWF-P for prevention of Hingol Park

World Wide Funds for Nature-Pakistan (WWF-P) is alarmed at the news item that appeared on July 26 in a national newspaper, stating that the government is about to allocate a large section of the Hingol National Park for defence use.
Published 28 Jul, 2006 12:00am
50 percent fall in used cars import likely

50 percent fall in used cars import likely

The restriction imposed by the government on import of motor cars of over five-year-old, may cause about 50 percent decline in car imports during the current financial year.
Published 28 Jul, 2006 12:00am
Jail authorities told to abide by laws

Jail authorities told to abide by laws

The Chief Justice of Pakistan has directed the Kot Lakhpat jail authorities to act in accordance with the laws otherwise he would pay a visit to the jail to see the situation prevailing there.
Published 28 Jul, 2006 12:00am
Raffles to launch back to school campaign

Raffles to launch back to school campaign

Raffles (Pvt) Limited, which is Pakistan's first locally assembled original equipment manufacturer (OEM) branded computer system, is going to introduce its new back to school campaign with special product line.
Published 28 Jul, 2006 12:00am
Early completion of Lahore-Wagah road directed

Early completion of Lahore-Wagah road directed

Provincial Minister for Communication & Works, Chaudhry Zaheer-ud-Din Khan has directed the officials of C&W to speed up the pace of work on 4-lane Lahore Wagah Road from Daroghawala to Wagah which would cost Rs 1,341 million.
Published 28 Jul, 2006 12:00am
Two soldiers killed in blast

Two soldiers killed in blast

Two soldiers were killed and three others wounded on Thursday when an explosive device hit their convoy in a restive tribal area bordering Afghanistan, officials said.
Published 28 Jul, 2006 12:00am
Two soldiers killed in blast

Two soldiers killed in blast

Two soldiers were killed and three others wounded on Thursday when an explosive device hit their convoy in a restive tribal area bordering Afghanistan, officials said.
Published 28 Jul, 2006 12:00am
Five troops, 6 drug smugglers killed

Five troops, 6 drug smugglers killed

Five paramilitary troops and six drug smugglers were killed in a clash on Thursday in Chaghi, officials said. The gunfight broke out when security forces intercepted a gang of drug traffickers 300 km (185 miles) west of Quetta, capital of south-western Ba
Published 28 Jul, 2006 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Thursday (July 27, 2006).

Published 28 Jul, 2006 12:00am
Five troops, 6 drug smugglers killed

Five troops, 6 drug smugglers killed

Five paramilitary troops and six drug smugglers were killed in a clash on Thursday in Chaghi, officials said. The gunfight broke out when security forces intercepted a gang of drug traffickers 300 km (185 miles) west of Quetta, capital of south-western Ba
Published 28 Jul, 2006 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Thursday (July 27, 2006).

Published 28 Jul, 2006 12:00am
Power generation witnesses 5.7 percent growth in 2004-05

Power generation witnesses 5.7 percent growth in 2004-05

The power generation performance of all electricity establishments (thermal, hydel and nuclear) witnessed 5.7 percent growth to 88,379 million kWh during 2004-05. However, Wapda hydro power stations generated six percent less than in the year 2003-04, acc
Published 28 Jul, 2006 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Thursday (July 27, 2006).

Published 28 Jul, 2006 12:00am
Rains, mudslides force people to flee quake zone

Rains, mudslides force people to flee quake zone

People have started fleeing earthquake-affected areas of NWFP as landslides fears mounted after three members of a family died Thursday night when floodwater swept their house in Kaghan valley.
Published 28 Jul, 2006 12:00am
'Sufficient rains to fill all water reservoirs this year'

'Sufficient rains to fill all water reservoirs this year'

There would be sufficient rains during the current monsoon to fill all the major water reservoirs and meet irrigation water requirements both for Rabi and Kharif crops, meteorological department experts told Business Recorder here on Thursday.
Published 28 Jul, 2006 12:00am
US lawmaker seeks to block F-16 sale

US lawmaker seeks to block F-16 sale

A leading Democrat in the US Congress introduced legislation on Thursday to block the George W. Bush administration's proposed sale of up to 36 combat aircraft to Pakistan.
Published 28 Jul, 2006 12:00am
US lawmaker seeks to block F-16 sale

US lawmaker seeks to block F-16 sale

A leading Democrat in the US Congress introduced legislation on Thursday to block the George W. Bush administration's proposed sale of up to 36 combat aircraft to Pakistan.
Published 28 Jul, 2006 12:00am
27 killed in Baghdad

27 killed in Baghdad

A car bomb and several mortars ripped through central Baghdad on Thursday, killing at least 27 people and wounding 101 others, police sources said. The car bomb in the shopping district of Karrada heavily damaged a building, raising fears the death toll c
Published 28 Jul, 2006 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (July 27, 2006).

Published 28 Jul, 2006 12:00am
27 killed in Baghdad

27 killed in Baghdad

A car bomb and several mortars ripped through central Baghdad on Thursday, killing at least 27 people and wounding 101 others, police sources said. The car bomb in the shopping district of Karrada heavily damaged a building, raising fears the death toll c
Published 28 Jul, 2006 12:00am
Pakistan''s foreign exchange reserves decline

Pakistan''s foreign exchange reserves decline

Foreign exchange reserves declined by $26.1 million to $12,913.8 million in the week ending July 22, the State Bank (SBP) said on Thursday. Reserves held by the SBP declined to $10,546.5 million from $10,610.5 million a week earlier; however, those held b
Published 28 Jul, 2006 12:00am
Pakistan's foreign exchange reserves decline

Pakistan's foreign exchange reserves decline

Foreign exchange reserves declined by $26.1 million to $12,913.8 million in the week ending July 22, the State Bank (SBP) said on Thursday. Reserves held by the SBP declined to $10,546.5 million from $10,610.5 million a week earlier; however, those held b
Published 28 Jul, 2006 12:00am
Pakistan's foreign exchange reserves decline

Pakistan's foreign exchange reserves decline

Foreign exchange reserves declined by $26.1 million to $12,913.8 million in the week ending July 22, the State Bank (SBP) said on Thursday. Reserves held by the SBP declined to $10,546.5 million from $10,610.5 million a week earlier; however, those held b
Published 28 Jul, 2006 12:00am
Equity investors eye Pakistan with great interest: Salman

Equity investors eye Pakistan with great interest: Salman

Advisor to Prime Minister for Finance and Economic Affairs Dr Salman Shah said that we have introduced Pakistan for the first time after almost 15 years and the international equity investors have shown "positive interest" in investing in the country.
Published 28 Jul, 2006 12:00am
Equity investors eye Pakistan with great interest: Salman

Equity investors eye Pakistan with great interest: Salman

Advisor to Prime Minister for Finance and Economic Affairs Dr Salman Shah said that we have introduced Pakistan for the first time after almost 15 years and the international equity investors have shown "positive interest" in investing in the country.
Published 28 Jul, 2006 12:00am
IFC and Dewan Petroleum sign $52 million joint venture

IFC and Dewan Petroleum sign $52 million joint venture

The International Finance Corporation (IFC) on Thursday signed a $52 million financing package with Dewan Petroleum (Pvt) Ltd, to support its upstream oil and gas exploration, development and production project in Pakistan.
Published 28 Jul, 2006 12:00am
Punjab Power Generation Policy announced

Punjab Power Generation Policy announced

Punjab Chief Minister Chaudhry Pervaiz Elahi has announced the Punjab Power Generation Policy 2006, under which power projects would be undertaken by public and private sectors individually or with mutual collaboration.
Published 28 Jul, 2006 12:00am
Punjab Power Generation Policy announced

Punjab Power Generation Policy announced

Punjab Chief Minister Chaudhry Pervaiz Elahi has announced the Punjab Power Generation Policy 2006, under which power projects would be undertaken by public and private sectors individually or with mutual collaboration.
Published 28 Jul, 2006 12:00am
Punjab Power Generation Policy announced

Punjab Power Generation Policy announced

Punjab Chief Minister Chaudhry Pervaiz Elahi has announced the Punjab Power Generation Policy 2006, under which power projects would be undertaken by public and private sectors individually or with mutual collaboration.
Published 28 Jul, 2006 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (July 27, 2006).

Published 28 Jul, 2006 12:00am
Volkswagen beats expectations in second quarter

Volkswagen beats expectations in second quarter

Volkswagen AG, the world's fourth biggest carmaker, beat forecasts with a near 50 percent rise in adjusted second-quarter operating profit helped by a recovery in its core VW brand, driving its shares sharply higher.
Published 28 Jul, 2006 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (July 27, 2006).
Published 28 Jul, 2006 12:00am
Volkswagen beats expectations in second quarter

Volkswagen beats expectations in second quarter

Volkswagen AG, the world's fourth biggest carmaker, beat forecasts with a near 50 percent rise in adjusted second-quarter operating profit helped by a recovery in its core VW brand, driving its shares sharply higher.
Published 28 Jul, 2006 12:00am
Efforts being made to get R&D benefits across-the-board

Efforts being made to get R&D benefits across-the-board

Nearly 150 members of Pakistan Textile Exporters Association (PTEA) in a meeting here on Thursday condemned attempts of vested interests to sabotage the efforts for across the board extension to all exporters regarding R&D facility in the recently announc
Published 28 Jul, 2006 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Thursday (July 27, 2006).

Published 28 Jul, 2006 12:00am
Exxon Mobil profit tops $10 billion

Exxon Mobil profit tops $10 billion

Exxon Mobil Corp, the world's largest public oil company, on Thursday reported quarterly profit surged 35 percent to top $10 billion, driven by yet another quarter of sharply higher oil prices.
Published 28 Jul, 2006 12:00am
Exxon Mobil profit tops $10 billion

Exxon Mobil profit tops $10 billion

Exxon Mobil Corp, the world's largest public oil company, on Thursday reported quarterly profit surged 35 percent to top $10 billion, driven by yet another quarter of sharply higher oil prices.
Published 28 Jul, 2006 12:00am
Mercedes rebound propels Daimler profit

Mercedes rebound propels Daimler profit

A rebound at the flagship Mercedes-Benz brand helped DaimlerChrysler boost second-quarter operating profit by a forecast-beating 11 percent despite a slump at US arm Chrysler.
Published 28 Jul, 2006 12:00am
Mercedes rebound propels Daimler profit

Mercedes rebound propels Daimler profit

A rebound at the flagship Mercedes-Benz brand helped DaimlerChrysler boost second-quarter operating profit by a forecast-beating 11 percent despite a slump at US arm Chrysler.
Published 28 Jul, 2006 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (July 27, 2006).

Published 28 Jul, 2006 12:00am
South African PPI surges to 3-1/2-year peak

South African PPI surges to 3-1/2-year peak

South Africa's factory gate prices surged by 7.5 percent in the year to June, a 3-1/2 year peak which stunned local markets and suggested interest rates in Africa's biggest economy will rise more than expected.
Published 28 Jul, 2006 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Thursday (July 27, 2006).

Published 28 Jul, 2006 12:00am
Bolton seeks US Senate panel backing in UN job

Bolton seeks US Senate panel backing in UN job

A year after President George W. Bush bypassed the Senate and appointed him UN Ambassador on a temporary basis, John Bolton told the body's Foreign Relations Committee on Thursday he has been effective and deserves a full appointment.
Published 28 Jul, 2006 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (July 27, 2006).

Published 28 Jul, 2006 12:00am
Bulls command ISE proceedings

Bulls command ISE proceedings

Bulls commanded the proceedings at the Islamabad Stock Exchange (ISE) where fresh buying spree in heavyweights amid increase in index. ISE Ten index was plus by 22.38 points, as the index moved from 2,745.96 to 2,768.34 points.
Published 28 Jul, 2006 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 28 Jul, 2006 12:00am
Bulls command ISE proceedings

Bulls command ISE proceedings

Bulls commanded the proceedings at the Islamabad Stock Exchange (ISE) where fresh buying spree in heavyweights amid increase in index. ISE Ten index was plus by 22.38 points, as the index moved from 2,745.96 to 2,768.34 points.
Published 28 Jul, 2006 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 28 Jul, 2006 12:00am
Across board gains on LSE

Across board gains on LSE

Led by oil sector, equities registered gains across the board on Lahore Stock Exchange (LSE) amid increasing transaction volume. The LSE-25 index further improved by 35.20 points, closing at 4624.63 against 4589.43 of Wednesday, while trading turnover inc
Published 28 Jul, 2006 12:00am
Across board gains on LSE

Across board gains on LSE

Led by oil sector, equities registered gains across the board on Lahore Stock Exchange (LSE) amid increasing transaction volume. The LSE-25 index further improved by 35.20 points, closing at 4624.63 against 4589.43 of Wednesday, while trading turnover inc
Published 28 Jul, 2006 12:00am
Musharraf stresses plan for enhanced power supply

Musharraf stresses plan for enhanced power supply

President Pervez Musharraf on Thursday stressed the need for evolving a plan on war-footing for increased power supply not only to Karachi, but also to the rest of the country. In this regard, he called for making short, middle and long-term planning with
Published 28 Jul, 2006 12:00am
Plastic mouldings higher on Jodia Bazar

Plastic mouldings higher on Jodia Bazar

The trading in plastic mouldings closed higher on Jodia Bazar on Thursday. The following variations were seen. Hdpe Film (Per Lb): Saudia 950 ended up by Rs 1.25 at Rs 48.50, Mobil finished higher by Rs 1.25 at Rs 48.50 and TR144 moved upward by Re 1 at R
Published 28 Jul, 2006 12:00am
Musharraf stresses plan for enhanced power supply

Musharraf stresses plan for enhanced power supply

President Pervez Musharraf on Thursday stressed the need for evolving a plan on war-footing for increased power supply not only to Karachi, but also to the rest of the country. In this regard, he called for making short, middle and long-term planning with
Published 28 Jul, 2006 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 120,102 tonnes of cargo including 104,144 tonnes import, 15,958 tonnes export cargo and 4,967 containers during last 24 hours ending at 0700 hours on Thursday.
Published 28 Jul, 2006 12:00am
Musharraf stresses plan for enhanced power supply

Musharraf stresses plan for enhanced power supply

President Pervez Musharraf on Thursday stressed the need for evolving a plan on war-footing for increased power supply not only to Karachi, but also to the rest of the country. In this regard, he called for making short, middle and long-term planning with
Published 28 Jul, 2006 12:00am
IGC cuts world wheat and maize crop forecasts

IGC cuts world wheat and maize crop forecasts

The International Grains Council said on Thursday it had cut its forecast for world wheat production in 2006/07 (July-June) to 596 million tonnes, down nine million from a previous projection of 605 million. The wheat crop would be below the 617 million t
Published 28 Jul, 2006 12:00am
Cabinet approves new Trade Organisations Ordinance

Cabinet approves new Trade Organisations Ordinance

The federal cabinet has approved new Trade Organisations Ordinance, in principle, to weed out fake trade bodies, prohibit grouping, block voting and campaigning, the sources in the commerce ministry told Business Recorder on Thursday. However, till
Published 28 Jul, 2006 12:00am
Egypt buys US and Canadian wheat

Egypt buys US and Canadian wheat

The Egyptian government's main wheat buyer said it bought 285,000 tonnes of US and Canadian wheat on Thursday for shipment between August 21 and 31. Sayed el-Hefny, vice chairman of the government's General Authority for Supply Commodities (GASC), gave th
Published 28 Jul, 2006 12:00am
Cabinet approves new Trade Organisations Ordinance

Cabinet approves new Trade Organisations Ordinance

The federal cabinet has approved new Trade Organisations Ordinance, in principle, to weed out fake trade bodies, prohibit grouping, block voting and campaigning, the sources in the commerce ministry told Business Recorder on Thursday. However, till
Published 28 Jul, 2006 12:00am
HRW wheat bids steady to firmer

HRW wheat bids steady to firmer

US hard red winter wheat spot basis bids were steady to firmer on Thursday, with country selling down along with decreased futures prices. The basis was pushed 4 cents firmer in Catoosa, Oklahoma, and 3 cents in Enid, Oklahoma, as competition stirred for
Published 28 Jul, 2006 12:00am
Cabinet approves new Trade Organisations Ordinance

Cabinet approves new Trade Organisations Ordinance

The federal cabinet has approved new Trade Organisations Ordinance, in principle, to weed out fake trade bodies, prohibit grouping, block voting and campaigning, the sources in the commerce ministry told Business Recorder on Thursday. However, till
Published 28 Jul, 2006 12:00am
FOB Gulf corn and soya steady; wheat eyes Egypt tender

FOB Gulf corn and soya steady; wheat eyes Egypt tender

US FOB Gulf corn and soyabean basis offers were mostly steady on Wednesday, with traders expecting a pick up in export demand amid a drop in prices. Barge freight spot bids were steady at St. Louis, higher on the Illinois River and lower on the lower Ohio
Published 28 Jul, 2006 12:00am
Cabinet approves new Trade Organisations Ordinance

Cabinet approves new Trade Organisations Ordinance

The federal cabinet has approved new Trade Organisations Ordinance, in principle, to weed out fake trade bodies, prohibit grouping, block voting and campaigning, the sources in the commerce ministry told Business Recorder on Thursday. However, till
Published 28 Jul, 2006 12:00am
UK wheat harvest gathers pace

UK wheat harvest gathers pace

The outlook for Britain's wheat crop should become clearer over the next few days as harvesting gathers pace with a heatwave earlier this month expected to have cut yields, analysts said on Thursday. "Overall I would expect them (wheat yields) to be down
Published 28 Jul, 2006 12:00am
New form for agents to furnish monthly withholding tax details

New form for agents to furnish monthly withholding tax details

A new monthly statement has been chalked out for the withholding agents for collection or deduction of withholding tax. The Central Board of Revenue (CBR) on Thursday issued draft of monthly statement for collection or deduction of withholding tax. It has
Published 28 Jul, 2006 12:00am