Cotton futures crumbled from speculative fund liquidation and option-related sales to close Tuesday at a five-month low and the market's horrid performance may lead to more losses this week, brokers said.
Chile's copper industry think tank CESCO sees copper prices staying high over the coming years, holding levels above $3 per lb in 2007 and 2008, Executive Director Juan Carlos Guajardo told Reuters on Tuesday. Driven by Chinese demand and a strong global
London Metal Exchange nickel hit a new record high, copper approached its seven-month peak and zinc hit a three-month high on Tuesday on concerns about supply disruptions and persistently strong demand, analysts said.
Gold steadied on Tuesday below an 11-month high, but analysts said the metal had potential to test $700 an ounce in the coming weeks on a weaker dollar outlook and firm oil prices. Gold was at $688.80/689.30 by 1407 GMT after falling to $685.20 an ounce i
Corn futures at the Chicago Board of Trade gained nearly 2 percent early on Tuesday on slow seedings of the US corn crop and forecasts for more wet weather in early May, traders said. At 10:39 am CDT (1539 GMT), CBOT corn was up 2-1/2 to 7 cents per bushe
Wheat futures at the Chicago Board of Trade were sharply lower at midsession on Tuesday, pressured by better-than-expected US crop condition ratings, traders said. Forecasts for much-needed rain in Australia's wheat belt were also seen as bearish.
Soyabean futures at the Chicago Board of Trade fell early on Tuesday as a slowed US corn seeding pace could lead to more soyabean plantings this spring, traders said. Corn is planted from mid-April to mid-May in the Midwest. If farmers can't get all their
US copper futures fell almost 1.5 percent early on Tuesday on technical selling after recent rallies, and traders said the market could be poised for a deeper correction. Most active July copper on the New York Mercantile Exchange's COMEX division was dow
Selling related to options expirations sent gold futures lower early on Tuesday, and strong resistance on technical charts kept prices from breaching the $700 psychological level.
Sri Lanka Chamber of Small Industry is organising a trade mission to visit "My Karachi" International Exhibition in June. The trade mission is being organised with the support of the Pakistan High Commission in Colombo, the Commerce Department and the Exp
House Building Finance Corporation (HBFC) will soon introduce new products in a bid to meet increasing housing demand and facilitate maximum number of people in the country, said Chairman, House Building Finance Corporation (HBFC), Zaigham M Rizvi.
Dr Azhar Javed, 50, of International Islamic University's head of Law and Sharia faculty died on Tuesday of heart failure. His funeral prayer was attended by a large number of people including IIU faculty, students and staff members, and laid to rest at h
The government of Pakistan highly appreciates Kuwaiti Midrock company's $2 billion investment plan in Lube Oil Refinery, Naphtha Cracker and Petrochemical Complex at Port Qasim, Karachi.
Acting President Mohammedmian Soomro on Tuesday said that opening of Gwadar Port and construction of Beijing Expressway had opened new avenues for the business activities in the region. He was talking to Director, Head of Sales Africa and Middle East of S
I appeal to the lawyers, now please come to the courts as absence in the name of strikes is hurting nobody but common people. Already our courts are so slow in delivering justice and this strike is further paralysing the nation. Everybody has the right to
Ministry of Ports and Shipping has announced a new, 4th Port. This gimmick has been proposed by KPT which is reputed for launching and advertising projects which never take off, but does please the political bosses.
Myanmar's dusty new capital Naypyidaw is filled with glum civil servants shuttling between their stifling new apartment blocks and faceless ministries. But some wily business people are smiling. Entrepreneurs from around the country have spotted an opport
There is really no good news likely to come as far as power failures and Kesc go; in fact the only way out of this crisis for ordinary people is to enhance their levels of cynicism, replenish their reserves of patience, and fortify their inner defences, i
Every civilised society permits the business community to transact their businesses in a manner that is most efficient to achieve their objectives. It is a trite law that when two contracting parties agree to do something by a mutual valid contract or int
But for the high-visibility collapse of the Margalla Towers, the world might not have awoken so instantaneously to the massive scale of destruction caused by the earthquake that struck north-western Pakistan and Azad Kashmir in October 2005.
It seems that top functionaries of the government are not much bothered about the ground realities and are excessively optimistic about the future. After a successful visit to China (no visit has ever been unsuccessful in Pakistan) where about 40 agreemen
A 4-day training workshop on accountancy faculty in Pakistan, organised by the Association of Chartered Certified Accountants (ACCA), concluded with thoughts on how can faculty excel in their role and discharge their responsibilities efficiently.
Speakers at a conference on 'Women's Empowerment and Social Transformation' have called for giving economic empowerment to women so that they could play their due role in national development. The two-day international conference was organised by the Inst
President Pakistan Deaf Cricket Association (PDCA) Abdul Salam has asked the government to resolve the problem of unemployment of members Pakistan Deaf Cricket Team (PDCT). While addressing a press conference here on Monday, he said PDCT had a good record
Head of Economics, German Embassy, Partrick Heinz has said that a high-level German business delegation is visiting Pakistan in the month of November to have joint ventures with their Pakistani counterparts.
Punjab University Centre for Clinical Psychology will hold one-day national conference on 'Gender Issues in 21st Century' on 16th May 2007 at Dr Pervez Hassan Environmental Law Centre. Profes-sionals from four provinces will participate in the conference
Intellectual Property Rights (IPR) add value to the products and services making them acceptable to formal international and national market. It was stated by Hina, legal expert on IPR of the Small and Medium Enterprise Development Authority (Smeda), IPO
Dr Ajmal Psychological Society of the Psychology department of GC University Lahore on Tuesday organised a pre-conference seminar with reference to HEC-BC Academic Link activities and Mental Health Week, 2007.
Provincial Zakat Council (PZC) in its meeting sought workable proposals from its members for the uplift of Zakat System and construction of Zakat Complex, establishment of central library and record room, practical training of the members of District Zaka
A seminar under the title of "Citizen Community Boards-The Agents of Social Revolution" was held in the main secretariat of global organisation for human empowerment and rights. People from local community, non-governmental organisation officials, teacher
The Chinese investors have shown interest in initiating joint ventures with Pakistani businessmen in plastic and pharmaceutical sectors. Vice-President Lahore Chamber of Commerce and Industry (LCCI) and head of 12-member LCCI delegation, Mubasher Sheikh r
Punjab University main library will organise a two-day training workshop on 'Library Information Navigators'. The inaugural ceremony will be held on Wednesday, April 25th at 10am in the Main Library. Punjab University Vice-Chancellor Lieutenant General Ar
J.P. Morgan, one of leading financial services firm of USA, in its recent annual analysis report has applauded the significant growth attained by the Bank of Punjab and regarded the bank as "growth leader". This is stated by a bank's spokesman here on Tue
J.P. Morgan, one of leading financial services firm of USA, in its recent annual analysis report has applauded the significant growth attained by the Bank of Punjab and regarded the bank as "growth leader". This is stated by a bank's spokesman here on Tue
A farewell function was arranged by the students of Jinnah Islamia Group of Colleges Peco Road Township Lahore for those who have passed out from the college.
The Chairman District Milk Price Control Committee Q. Muhammad Hakim has warned the milk retailers, wholesalers, chillers and big Bara owners not to sell their milk above the fixed price, failing which legal action would be taken against them.
This warni
Horticulture promotion and livestock development are the two main focus areas in the rural areas in Sindh, which have been selected for formulation of provincial horticulture policy.
The government of Punjab has accorded approval to set up first of its kind state-of-the-art tissue typing laboratory in public sector at Lahore General Hospital (LGH). Post-graduate Medical Institute (PGMI) Principal Professor Dr Sajjad Hussain said on Mo
Provincial metropolis remained in the grip of hot spell on Tuesday, high mercury kept the citizens indoors to avoid scorching heat. According to a meteorological official, the maximum temperature was 40 degrees Celsius while minimum temperature recorded w
University of Health Sciences (UHS) Lahore has arranged a series of research seminars and lectures by eminent scholars. Dr Shabbir Hussain from Robert Research Institute, London delivered a lecture on 'Role of B Cells in Autoimmune Diabetes'.
The University of Veterinary and Animal Sciences (UVAS) and King Edward Medical University, Lahore, have agreed to sign a memorandum of understanding (MoU) for working jointly in various disciplines of medical and veterinary sciences.
The Standing Committee of the Senate on Narcotics Control on Tuesday held its meeting at the Regional Directorate Anti Narcotics Force, Sindh with Mrs Kalsoom Parveen in chair to consider the menace of drug abuse.
National responsibility comes first to safeguard nation's interest instead of looking for international issues within the country by the media. These views were expressed by the Advisor to Chief Minister Sindh on Information Salahuddin Haider at the concl
The annual convocation of the University of Karachi (KU) will be held here on April 30. A spokesman of the KU said that Sindh Governor Dr Ishrat-ul-Ibad Khan, who is also the Chancellor of the public sector universities in the province, would be the chief
The leader of a delegation from the University of Korea and Vice President, Korea Advanced Institute of Sciences and Technology, Yang Ji Won, has said that the purpose of the visit is to examine possibilities of establishing a university in Pakistan.
Speakers at the National Road safety Conference on Tuesday stressed on the need to establish a 'safe' mass transit to scale down the increasing road accidents. They observed that in the absence proper infrastructure, children have been victims of reckless
The management of Pakistan Telecommunication Company Limited (PTCL) has promoted Syed Imtiaz Hussain Zaidi to General Manager, Human Resource and Administration (South Zone) with immediate effect. Earlier, Syed Imtiaz Hussain Zaidi was working as senior m
The first meeting of the Private Sector Credit Advisory Council (PSCAC) will be held at the Learning Resource Centre, State Bank of Pakistan, here on May 2 under the chairmanship of State Bank of Pakistan Governor Dr Shamshad Akhtar.
EFU Life Assurance has earned Rs 109.133 million as profit after tax translating an earning per share of Rs 3.64 in the quarter ended on March 31, 2007, as compared to Rs 47.311 million PAT and an EPS of Rs 1.58 in the same period last year.
EFU Life Assurance has earned Rs 109.133 million as profit after tax translating an earning per share of Rs 3.64 in the quarter ended on March 31, 2007, as compared to Rs 47.311 million PAT and an EPS of Rs 1.58 in the same period last year.
The government has asked the Employees' Old-Age Benefits Institutions (EOBI) reasons for not signing agreement with National Bank of Pakistan even after a lapse of six months. The EOBI had acquired the services of NBP, in October 2006, for collection of c
Sindh Governor Dr Ishrat-ul-Ibad Khan has said that the government has no objection on keeping shops open after 8 pm if the shopkeepers would use generators for their power needs. Sources said that addressing a 60-member delegation of Karachi Chamber of C
The Sarhad Chamber of Commerce and Industry (SCCI) has called for increase in the rates of taxes on agriculture, real estate and services sectors to enhance the present 9 percent tax-GDP ratio to 20 percent.
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 apex trade bodies of Pakistan and Poland have signed memorandum of understanding (MoU) for sharing economic development information to improve bilateral trade between the two countries.
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
Export Promotion Bureau has received the following Trade Enquiries from abroad. Interested Pakistani parties dealing in the under mentioned items can obtain further details from the addresses given or from EPB Head Quarters and its Regional/Sub-Regional O
EFU General Insurance has earned Rs 256.780 million as profit after tax translating an earning per share of Rs 5.14 in the quarter ended March 31, 2007 as compared to Rs 307.910 million profit after tax and an EPS of Rs 6.16 in the same period in 2006.
EFU General Insurance has earned Rs 256.780 million as profit after tax translating an earning per share of Rs 5.14 in the quarter ended March 31, 2007 as compared to Rs 307.910 million profit after tax and an EPS of Rs 6.16 in the same period in 2006.
The Directorate of Mine and Minerals NWFP has reactivated mining in two emerald mines in the province after 10 years. The two emerald areas at Gujjar Killi and Shamozai in district Swat were auctioned in February 2007 for Rs 44million and Rs 95 million re
The Ministry of Science and Technology has excavated seven ponds for storing harvested rainwater from 150 hectare developed catchment area to meet the growing water requirements in the Cholistan desert.
The ruling Pakistan Muslim League took out a much-escorted but lacklustre rally, expressing loyalty to President General Pervez Musharraf and favouring the reference moved against the Chief Justice of Pakistan.
A delegation of International Commission of Jurists (ICJ) headed by Dato Param Cumara Swami on Tuesday called on Federal Minister for Information and Broadcasting Senator Muhammad Ali Durrani at his office here and exchanged views of mutual interest.
Prime Minister Shaukat Aziz on Tuesday said the government is determined to make the country polio free very soon through effective vaccination through out the country. Talking to newsmen after inaugurating three-day national polio eradication campaign he
Lawyers, PPP and Pakistan Saraiki Party took out separate protest rallies and observed sit-in against presidential reference and efforts made by PML-Q to sabotage law and order in Islamabad on Tuesday.
The lawyers' community and opposition parties on Tuesday observed full day strike here in the metropolis and took out peaceful procession at Mall Road against the suspension of Chief Justice of Pakistan.
Lawyers of Karachi observed complete strike on Tuesday and boycotted all courts proceedings to express solidarity with Chief Justice Iftikhar Mohammed Chaudhry. They took out a procession from Karachi Bar Association office and marched through M A Jinnah
Pakistan will soon start fencing its border with Afghanistan at some selective points to check illegal movement, said Brigadier Javed Iqbal Cheema (Retd), Director General National Crisis Management Cell (NCMC), here on Tuesday.
Modest erosion was witnessed in the rupee's value in the open market on Tuesday, giving up two paisa against the dollar for buying at Rs 60.75 and sliding five paisa for selling at Rs 60.85, dealers said.
India's Urdu poets, writers and editor of literary magazine have arrived in Karachi recently to participate in Aalmi Urdu Mushaira and other literary functions. Bekal Utsahi, Meraj Faizabadi, Raees Ansari, Hanif, Akhger from US, Naushad Momin the editor o
Modest erosion was witnessed in the rupee's value in the open market on Tuesday, giving up two paisa against the dollar for buying at Rs 60.75 and sliding five paisa for selling at Rs 60.85, dealers said.
Rawalpindi police have busted four gangs of dacoits and recovered 21 vehicles, huge quantity of drugs and liquor. Police have also traced a fake liquor factory operating under trade name of Murree Brewery.
The Modaraba has relatively small capital base but it is a leader in the market price of its stock. The Modaraba's financial has remained robust and can be foreseen that it would have sustained strength in the financial health in the near term also.
Over 180 participants will benefit from the four-day "ACCA Faculty Excel 2007" conference, which started in Lahore, Islamabad and Karachi on Tuesday. ACCA has invited a senior trainer Rhys Johnson who is a chartered accountant with 15 year's experience in
The Modaraba has relatively small capital base but it is a leader in the market price of its stock. The Modaraba's financial has remained robust and can be foreseen that it would have sustained strength in the financial health in the near term also.
The opposition on Tuesday grilled the government for holding a rally in favour of presidential reference against "non functional" Chief Justice Iftikhar Mohammad Chaudhry, accusing that the ruling party had organised the rally by spending public money.
The Central Board of Revenue (CBR) has decided to establish 67 Tax Facilitation Centres (TFCs) at different locations under the Tax Administration Reform Programme (TARP). Sources told Business Recorder on Monday that 22 TFCs would be established a
The joint Opposition in National Assembly on Tuesday strongly condemned the un-announced load shedding in the country. Muhammad Laeeque Khan of MMA raised a calling attention notice on the frequent load shedding in the country causing severe problems for
Tuesday's proceedings at the National Assembly was dominated by the Opposition on the question concerning government's attempt to limit the civil liberties. The matter came up in the form of a number of privilege motions, but only one was admitted, that o