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Print - 2007-05-26
China renews crackdown on metals

China renews crackdown on metals

China's top planning body on Friday warned local governments to stop offering tax and power incentives to energy-intensive industries in a sharply worded statement aimed at curbing investment in the metals, energy and cement industries.
Published 26 May, 2007 12:00am
Lead at new peak, copper rebounds

Lead at new peak, copper rebounds

Lead ended at a new high on supply fears and copper rebounded on Friday, but analysts think the overall trend of rising copper stocks and lower demand over coming months could pressure prices down further. London Metal Exchange lead closed at a new record
Published 26 May, 2007 12:00am
Gold gains in Europe

Gold gains in Europe

Gold drifted higher on Friday to trade above the previous day's nine-week low, and analysts said the metal might recover on bargain hunting and physical buying. But larger-than-usual gold sales by European central banks in the past weeks might weigh on pr
Published 26 May, 2007 12:00am
US MIDDAY: corn slides

US MIDDAY: corn slides

Corn futures at the Chicago Board of Trade were drifting lower mid-morning Friday as concerns eased about the young crop as the eastern US Corn Belt was expected to get rain this weekend, traders said.
Published 26 May, 2007 12:00am
US MIDDAY: soyabeans rise

US MIDDAY: soyabeans rise

Soyabean futures at the Chicago Board of Trade rose Friday as the market was viewed technically strong, mimicking the moves in the vegetable oil markets, traders said. CBOT soyabean oil spiked to contract highs early, with the spot month notching a near 2
Published 26 May, 2007 12:00am
US MIDDAY: wheat moves up

US MIDDAY: wheat moves up

Wheat futures on the Chicago Board of Trade were higher at midsession on Friday as concerns about tightening world wheat supplies for 2007/08 prompted short covering, traders said. Traders were also adjusting positions ahead of a long holiday weekend. US
Published 26 May, 2007 12:00am
US MIDDAY: copper futures climb

US MIDDAY: copper futures climb

New York copper futures began Friday's floor session with hefty gains from an overnight new two-month low, which held despite a US home sales report showed a larger-than-forecast slowing, traders said.
Published 26 May, 2007 12:00am
US MIDDAY: gold rebounds

US MIDDAY: gold rebounds

US gold futures rebounded early on Friday after the previous session's sharp losses, helped by buying following option expirations, a weaker dollar and recovering copper prices. At 9:46 am EDT (1346 GMT), most-active gold for June delivery on the COMEX di
Published 26 May, 2007 12:00am
PC clarifies PAC report

PC clarifies PAC report

A spokesman of the Privatisation Commission (PC) has clarified that all privatisation transactions were being carried out by the PC in accordance with the PC Ordinance 2000 and the rules and regulations laid down thereunder.
Published 26 May, 2007 12:00am
78 percent urban citizens face loadshedding every day

78 percent urban citizens face loadshedding every day

A recent survey conducted by Gallup Pakistan reveals that 78 percent of Pakistan's urban citizens faced power shut down in their areas almost every day. Twelve percent of the urban respondents said there is loadshedding in their area once a week and a fur
Published 26 May, 2007 12:00am
Unethical to the core

Unethical to the core

This refers to the news conference by Central Board of Revenue (CBR), in which it was revealed that the CBR has recovered 12 special jeeps, 500 tents, six refrigerated containers, 44 split air-conditioners, 44 portable toilets, generators, cooking range,
Published 26 May, 2007 12:00am
True enlightenment

True enlightenment

Since the Holy Quran repeatedly asks the faithful to ponder, reflect and acquire knowledge that would bring them closer to God's creation, Muslim rulers in the early Islamic period insisted that every Muslim child acquire learning and they themselves gave
Published 26 May, 2007 12:00am
Turkey's workers feel excluded from economic boom

Turkey's workers feel excluded from economic boom

In a garage in Ulus -- an old, shabby district of Ankara where everything from wooden spoons to blue-jeans and cheese sells at knock-down prices -- mechanic Murat Mert is unimpressed by Turkey's economic boom. With a wife and a son to look after he works
Published 26 May, 2007 12:00am
Polish monks build business empire

Polish monks build business empire

Far from the big city boardrooms, the Benedictine monks of this Polish abbey have thrown themselves wholeheartedly into the world of commerce, providing food for the body as well as the soul. The monastery, perched on a cliff above the Vistula River in so
Published 26 May, 2007 12:00am
Is the direction of our economy showing alarming trends?

Is the direction of our economy showing alarming trends?

Years 2003 to 2005 were good years for the Pakistani economy. Some say that it was the incoming post 9/11 funds, which gave the economy a boost while others truly believe that the economy was managed well and years of sustained efforts, post 1999, resulte
Published 26 May, 2007 12:00am
Talking to Taliban

Talking to Taliban

From a purely Pakistani perspective, the US-led coalition war in Afghanistan is going nowhere. If recent developments are any indication, the Taliban-inspired insurgency is on the rise. Taliban strength seems to be growing and they are taking on the coali
Published 26 May, 2007 12:00am
Wheat export ban

Wheat export ban

ECC's decision to suspend wheat export after a review of the commodity's availability in the country is positively reflective of the government's resolve to keep wheat and flour prices stable in the domestic market. Prime Minister Shaukat Aziz, while pres
Published 26 May, 2007 12:00am
HBFC Umrah package winners leave for Makkah

HBFC Umrah package winners leave for Makkah

Two lucky winners of 'House Building Finance Corporation Umrah Package' left for Makkah, Saudi Arabia via Pakistan International Airlines (PIA) flight No PK-731 on Thursday evening. A press release here said the two lucky winners of the third batch of the
Published 26 May, 2007 12:00am
HCBF student gets first position

HCBF student gets first position

According to a news of Hailey College of Banking and Finance received here on Thursday, Mehwish Ayaz, a student of the College got first position in All Pakistan declamation contest organised by Thinking Forum and Mushaira for Intellectual Shields at Univ
Published 26 May, 2007 12:00am
Hearing put off in same-sex couple case

Hearing put off in same-sex couple case

The Lahore High Court (LHC) on Friday put off the proceedings in the same sex couple case and directed the counsel of Shumail Raj (Nazia) to submit reply of the notices by May 28, which has been fixed as next date of hearing.
Published 26 May, 2007 12:00am
Oceans have little impact on climate changes: experts

Oceans have little impact on climate changes: experts

Climate experts have relied on the oceans to absorb enough of the greenhouse gas carbon dioxide to slow global warming, but new research by an international team of scientists shows that the oceans may have little impact on changes in the atmospheric clim
Published 26 May, 2007 12:00am
Passco withdraws transportation charges on wheat

Passco withdraws transportation charges on wheat

Pakistan Agricultural Storage and Services Corporation Limited (Passco) has decided to withdraw the payment of Rs 10 per 40 kilogram to the farmers that were announced as transportation charges on Wednesday. According to a spokesman of the Corporation, wh
Published 26 May, 2007 12:00am
Hydel projects in Punjab: 15 overseas Pakistani investors keen to invest

Hydel projects in Punjab: 15 overseas Pakistani investors keen to invest

Fifteen overseas Pakistani investors have shown interest to invest in hydel power projects worth Rs 3.8 billion to be constructed in Punjab. They would be provided state-of-the-art facilities at Power Department under one window operation in this regard.
Published 26 May, 2007 12:00am
Punjab University organises seminar on biodiversity

Punjab University organises seminar on biodiversity

Punjab University's Department of Zoology organised a seminar on the theme 'Biodiversity and Climate Change' in connection with International Day of 'Biological Diversity'.
Published 26 May, 2007 12:00am
Mepco violating Supreme Court directive

Mepco violating Supreme Court directive

Multan Electric Power Company (Mepco) and other distribution companies of Water and Power Development Authority (Wapda) are sending bills to its consumers in violation of the Supreme Court directive, which asked the authority to ensure at least 15 days ti
Published 26 May, 2007 12:00am
LHC summons record about violators of kite flying

LHC summons record about violators of kite flying

The Lahore High Court (LHC) has directed the concerned authorities to submit record pertaining to arrests and action taken against those violating ban on kite flying. The court passed these orders in a petition which was filed by M D Tahir advocate prayin
Published 26 May, 2007 12:00am
Markets to be raided to control price hike

Markets to be raided to control price hike

Chief Minister's Inspection Team has recommended deputation of Judicial Magistrate along with the Price Control Committees at district, tehsil and town levels to control the price hike and keep a check on shopkeepers. Punjab Chief Minister's Inspection Te
Published 26 May, 2007 12:00am
Breast cancer specialist joins SKMCH

Breast cancer specialist joins SKMCH

An internationally recognised breast cancer specialist Dr Nigel Sacks has joined the Shaukat Khanum Memorial Cancer Hospital & Research Centre (SKMCH&RC) on a voluntary basis for six months. According to a spokesman of Shaukat Khanum Hospital, Dr Nigel Sa
Published 26 May, 2007 12:00am
Faculty of Biosciences at UVAS

Faculty of Biosciences at UVAS

Punjab Governor Lieutenant General (Retd) Khalid Maqbool inaugurated Faculty of Biosciences, Faculty of Veterinary Sciences at University of Veterinary & Animal Sciences (UVAS) here on Friday. He was briefed by Vice Chancellor of the University Dr Muhamma
Published 26 May, 2007 12:00am
AIM assigned AM3 rating

AIM assigned AM3 rating

The Pakistan Credit Rating Agency Limited (Pacra) has assigned an asset manager rating of "AM3" to Askari Investment Management Limited (AIM). The rating reflects the company's strong capacity to manage the risk inherent in asset management and the asset
Published 26 May, 2007 12:00am
AIM assigned AM3 rating

AIM assigned AM3 rating

The Pakistan Credit Rating Agency Limited (Pacra) has assigned an asset manager rating of "AM3" to Askari Investment Management Limited (AIM). The rating reflects the company's strong capacity to manage the risk inherent in asset management and the asset
Published 26 May, 2007 12:00am
Mobile connections: PTA directives to cellular operators

Mobile connections: PTA directives to cellular operators

Pakistan Telecommunication Authority (PTA) has directed the cellular operators to properly document all the credential of customers acquiring mobile connections from the respective mobile companies.
Published 26 May, 2007 12:00am
Privatisation: 47.7 percent NIT shares to be divided

Privatisation: 47.7 percent NIT shares to be divided

Federal Minister for Privatisation and Investment Zahid Hamid has said that 47.7 percent shares of National Investment Trust (NIT) would be divided into three parts for privatisation. Talking to a private television channel, he said that administration of
Published 26 May, 2007 12:00am
Privatisation: 47.7 percent NIT shares to be divided

Privatisation: 47.7 percent NIT shares to be divided

Federal Minister for Privatisation and Investment Zahid Hamid has said that 47.7 percent shares of National Investment Trust (NIT) would be divided into three parts for privatisation. Talking to a private television channel, he said that administration of
Published 26 May, 2007 12:00am
Three degree colleges at Kahna and Kot Lakhpat soon

Three degree colleges at Kahna and Kot Lakhpat soon

Punjab Communication and Works Minister Chaudhry Zaheer-Uddin Khan has said that three degree colleges would be set up at Kahna and Kot Lakhpat with the total cost of Rs 112.389 million. He was presiding over a departmental meeting here on Friday, disclos
Published 26 May, 2007 12:00am
CLC devises summer vacation courses

CLC devises summer vacation courses

Children Library Complex (CLC) has devised new courses for the students during coming summer vacation which would entertain students as well as their mothers and they can utilise these holidays in more befitting manner.
Published 26 May, 2007 12:00am
Conference on human resource management

Conference on human resource management

Mobilink, the country's market leader in cellular communication, has partnered with the Pakistan Society for Human Resource Management and Training Networks International (TNI) to host Dave Ulrich in a seminar to be held here on May 29, 2007.
Published 26 May, 2007 12:00am
'Green Punjab Programme will be a great success'

'Green Punjab Programme will be a great success'

With a view to making the Green Punjab Programme of the provincial government a great success, Rozgar Auto Industry (Pvt) Limited has manufactured a four-stroke rickshaw, which is available to public at reasonable rates.
Published 26 May, 2007 12:00am
The Weather

The Weather

The weather report on Friday (May 25, 2007) and the forecast for Saturday (May 26, 2007).
Published 26 May, 2007 12:00am
Visit Pakistan 2007 expo from June 1

Visit Pakistan 2007 expo from June 1

The Ministry of Tourism, in collaboration with 4th Dimensions Pvt Ltd, is organising a three-day "Visit Pakistan 2007" exhibition at Expo Centre here from June 1 to 3.
Published 26 May, 2007 12:00am
New York cotton

New York cotton

Friday's closing prices of New York cotton in US cents/lb.

Published 26 May, 2007 12:00am
Pessi receives Rs 1.2 billion for industrial workers

Pessi receives Rs 1.2 billion for industrial workers

Punjab Minister for Labour and Human Resources, Rana Muhammad Qasim Noon has said that Punjab Employees Social Security Institution (Pessi) has received an amount of Rs 1.2 billion under Social Security of the industrial workers during first seven months
Published 26 May, 2007 12:00am
New York cotton

New York cotton

Friday's closing prices of New York cotton in US cents/lb.

Published 26 May, 2007 12:00am
Hype in real estate business termed artificial

Hype in real estate business termed artificial

The abnormal hype of the real estate market is artificial and has reached absolutely unrealistic proportions, leading to the inevitable collapse. The current market is unfortunately saturated with so many projects that traditional investors can be easily
Published 26 May, 2007 12:00am
Key stock and currency market movements

Key stock and currency market movements

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).

Published 26 May, 2007 12:00am
Pakistan has turned into world's 'kidney bazar': experts

Pakistan has turned into world's 'kidney bazar': experts

A Pakistani law ostensibly aimed at curbing trafficking in human kidneys is unlikely to end a business that has turned the country into the world's "kidney bazaar", a health expert said. Hundreds of rich foreigners come to Pakistan every year and buy kidn
Published 26 May, 2007 12:00am
'Biotechnological knowledge vital for women'

'Biotechnological knowledge vital for women'

Comstech's scientific advisor Dr Anwar Nasim has told the female students of the Islamic University that biotechnology has greatly impact on everyone's live, particularly, on women. The talk was organised at the women's hostel of the IIU on Wednesday. For
Published 26 May, 2007 12:00am
NWFP ADP to increase by 33 percent in next budget

NWFP ADP to increase by 33 percent in next budget

NWFP Chief Minister Akram Khan Durrani has directed for 33 percent increase in the next annual development programme (ADP) for the rapid completion of ongoing and new schemes throughout the province. These schemes were a public welfare and should be compl
Published 26 May, 2007 12:00am
NWFP ADP to increase by 33 percent in next budget

NWFP ADP to increase by 33 percent in next budget

NWFP Chief Minister Akram Khan Durrani has directed for 33 percent increase in the next annual development programme (ADP) for the rapid completion of ongoing and new schemes throughout the province. These schemes were a public welfare and should be compl
Published 26 May, 2007 12:00am
Indian meat imports down

Indian meat imports down

Indian meat traders have increased the price of beef, after which its imports to Pakistan have considerably decreased. According to importers, Indian meat was cheaper when Pakistan allowed its import, and about 200 tons meat was being imported from India
Published 26 May, 2007 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (May 25, 2007).

Published 26 May, 2007 12:00am
Balochistan government condemns Afghan governor's claim

Balochistan government condemns Afghan governor's claim

Balochistan government spokesman Raziq Bugti on Friday condemned the statement of the Kandahar governor, who claimed that a number of Baloch nationalists had taken refuge in his province.
Published 26 May, 2007 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Friday (May 25, 2007) and for Saturday (May 26, 2007).
Published 26 May, 2007 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (May 25, 2007).

Published 26 May, 2007 12:00am
Ukraine invited to explore oil and gas potential

Ukraine invited to explore oil and gas potential

Minister for Petroleum and Natural Resources, Amanullah Khan Jadoon on Friday invited Ukraine to take advantage of attractive and investment friendly policies in the oil and gas sectors and cooperate in the upcoming projects of construction of oil and gas
Published 26 May, 2007 12:00am
Citibank's Dream Car, a miracle for Javed Butt

Citibank's Dream Car, a miracle for Javed Butt

A jubilant Citibank credit card holder, Javed Butt, cruised away in a jazzy red Mercedes Benz SLK 200K compressor convertible coupe, in a ceremony conducted by the Citibank for its "Win your Dream Car" campaign.
Published 26 May, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 25, 2007).

Published 26 May, 2007 12:00am
'Takaful has bright prospect to flourish'

'Takaful has bright prospect to flourish'

Takaful Pakistan Limited Chief Executive Officer (CEO) Captain M Jamil Akhtar has said that Takaful (Islamic Insurance) has bright prospect to flourish in the country. Addressing a seminar on "Takaful" organised jointly by Karachi Chamber of Commerce and
Published 26 May, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (May 25, 2007).

Published 26 May, 2007 12:00am
Government must stop rice smuggling to stabilise prices

Government must stop rice smuggling to stabilise prices

What kind of measures should be taken by the government to control unrealistic increase in the prices of all essential items ahead of the forthcoming budget (2007-08)? It's a big challenge for the government.
Published 26 May, 2007 12:00am
Herald Workers Union elects office-bearers

Herald Workers Union elects office-bearers

Elections for the year 2007-2009 of the Pakistan Herald Workers' Union (CBA) of the Dawn Group of newspapers were held here on Thursday, May 24. According to final results, Afzal Baloch was elected President while Shafiuddin Ashraf secured the coveted pos
Published 26 May, 2007 12:00am
Prime Minister lauds Telenor Futures program

Prime Minister lauds Telenor Futures program

Prime Minister Shaukat Aziz has appreciated Telenor Pakistan's efforts "as a responsible corporate citizen" and has called the expansion of its Telecom Futures program to Attock "an auspicious sign for the local community."
Published 26 May, 2007 12:00am
THE RUPEE: five paisa fall versus dollar

THE RUPEE: five paisa fall versus dollar

The rupee shed five paisa against the dollar in the open market on Friday for buying and selling at Rs 60.85 and Rs 60.95, dealers said. Rising demand of dollars by the corporate sector pushed the open market rate higher, dealers said.
Published 26 May, 2007 12:00am
Drivers block national highway

Drivers block national highway

Drivers blocked the National Highway to protest the killing of a truck driver, shot dead by bandits in Shah Latif Town area of Karachi, a private TV channel reported Friday. Thousands of vehicles were trapped in a traffic jam for seven hours.
Published 26 May, 2007 12:00am
THE RUPEE: five paisa fall versus dollar

THE RUPEE: five paisa fall versus dollar

The rupee shed five paisa against the dollar in the open market on Friday for buying and selling at Rs 60.85 and Rs 60.95, dealers said. Rising demand of dollars by the corporate sector pushed the open market rate higher, dealers said.
Published 26 May, 2007 12:00am
Duty cut on textile machinery, equipment urged

Duty cut on textile machinery, equipment urged

Former chairman, Korangi Association of Trade and Industry (Kati) Shaikh Manzar Alam has suggested that custom duty on import of textile-related machinery, spare parts, generators for captive power plants and their spare parts and other such equipment for
Published 26 May, 2007 12:00am
'Irregular leases of mines being cancelled'

'Irregular leases of mines being cancelled'

Punjab Minister for Mines & Minerals, Muhammad Sibtain Khan has said that irregular leases of mines are being cancelled. He added that in this connection the notices have been served to the mine owners throughout the province so that they could regularise
Published 26 May, 2007 12:00am
Meezan Bank launches 'ladies exclusive banking'

Meezan Bank launches 'ladies exclusive banking'

The Meezan Bank Limited, the first and largest Islamic bank in Pakistan, has launched 'Ladies Exclusive Banking' at its selected branches in Karachi. Meezan Bank President and CEO Irfan Siddiqui announced this new service while addressing a press conferen
Published 26 May, 2007 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Friday (May 25, 2007).

Published 26 May, 2007 12:00am
Power shutdown notice

Power shutdown notice

Due to necessary repair and maintenance work, power supply from 132 KV Peshawar Fort Grid Station will remain suspended on May 28 and May 29 from 8.00 am to 12.00 pm, creating inconvenience for the consumers of 11 KV Shuba and Dabgary areas. Similarly pow
Published 26 May, 2007 12:00am
Dr Rehan's role for promoting health institutes lauded

Dr Rehan's role for promoting health institutes lauded

The Board of Management, Punjab Medical College, Allied Hospital and DHQ Hospital hosted a farewell in the honour of Professor Dr AG Rehan, Principal & Chief Executive Officer, on his retirement here on Friday.
Published 26 May, 2007 12:00am
'Parties be allowed to set up channels, radio stations'

'Parties be allowed to set up channels, radio stations'

Pakistan People's Party has asked the government to allow political parties to set up their own radio stations, television channels for launching their election campaign and highlight their manifestos. Former prime minister Benazir Bhutto reportedly asked
Published 26 May, 2007 12:00am
NWFP to hold world trade moot

NWFP to hold world trade moot

NWFP Chief Minister Akram Khan Durrani on Thursday hinted at holding a trade conference on the pattern of industrial seminar in which industrialists, traders and investors from Islamic states and neighbouring countries would be invited to boost industrial
Published 26 May, 2007 12:00am
TDAP to launch marketing initiative in Africa

TDAP to launch marketing initiative in Africa

Trade Development Authority of Pakistan (TDAP) plans to launch an aggressive marketing initiative for increasing exports to African countries, in collaboration with Engineering Development Board (EDB). For this purpose, the authority has arranged a semina
Published 26 May, 2007 12:00am
'Pak-Sri Lanka trade to attain $1 billion mark'

'Pak-Sri Lanka trade to attain $1 billion mark'

The trade between Sri Lanka and Pakistan is growing, and would reach one billion-dollar mark in the next five years, High Commissioner for Pakistan in Sri Lanka Shahzad A Chaudhry said. Speaking at a programme organised by 'National Chamber of Exporters'
Published 26 May, 2007 12:00am
Cross Transactions

Cross Transactions

Cross transactions between client to client reported on Friday (May 25, 2007).

Published 26 May, 2007 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 26 May, 2007 12:00am
Lawyers observe one-hour hunger strike

Lawyers observe one-hour hunger strike

Lawyers in southern Punjab on Friday observed strike, accompanied by hunger strike for an hour. He criticised President Pervez Musharraf for his statement that the 'uniform is my second skin', and urged the opposition parties to shun their differences by
Published 26 May, 2007 12:00am
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