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Nov 28, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2007-06-05
Dollar holds near peaks in London

Dollar holds near peaks in London

The dollar kept within sight of an eight-week high versus the euro and neared a 4-1/2 year peak against the yen on Monday, after robust US jobs data last week trimmed expectations for a Federal Reserve interest rate cut this year.
Published 05 Jun, 2007 12:00am
Bonds: iTraxx index holds steady

Bonds: iTraxx index holds steady

The iTraxx Crossover index was little changed on Monday, in line with moves in European equity markets and ignoring a sharp 8-percent fall in China's domestic stock market, its fourth straight losing session.
Published 05 Jun, 2007 12:00am
Bonds: iTraxx index holds steady

Bonds: iTraxx index holds steady

The iTraxx Crossover index was little changed on Monday, in line with moves in European equity markets and ignoring a sharp 8-percent fall in China's domestic stock market, its fourth straight losing session.
Published 05 Jun, 2007 12:00am
Thai shares at new one-year high

Thai shares at new one-year high

Thai share prices soared 2.21 percent on Monday to a fresh one-year high as sentiment remained positive after Thai judges last week dissolved ousted premier Thaksin Shinawatra's party, dealers said. They said foreign inflows also partly shifted from the v
Published 05 Jun, 2007 12:00am
Britain's top share index slips

Britain's top share index slips

Britain's leading share index slipped 0.2 percent on Monday, weighed down by miners and real estate stocks while investors geared up for interest rate decisions in the UK and Europe later this week.
Published 05 Jun, 2007 12:00am
New York cotton settles lower

New York cotton settles lower

Cotton futures closed lower on Monday on switch-linked speculative sales and the market could come under further pressure from investors moving positions out of the spot contract in the days ahead, brokers said. New York Board of Trade's open-outcry July
Published 05 Jun, 2007 12:00am
Copper hits two-week high

Copper hits two-week high

London Metal Exchange copper prices hit their highest since May 16 on Monday with falling inventories and a potential strike in Mexico supporting the market, analysts said.
Published 05 Jun, 2007 12:00am
Oil surges above $70 on cyclone fears

Oil surges above $70 on cyclone fears

Oil surged above $70 on Monday on news a cyclone was headed toward the oil-producing Arabian peninsula with the potential to disrupt shipping and output. Top exporter Saudi Arabia said it expected its oil facilities to escape unscathed from the gathering
Published 05 Jun, 2007 12:00am
Tocom rubber higher

Tocom rubber higher

Tokyo rubber futures ended 1.2 percent higher on Monday on short-covering after steep falls last week, but gains were limited by profit-taking. The benchmark rubber contract on the Tokyo Commodity Exchange for November delivery settled at 286.0 yen ($2.34
Published 05 Jun, 2007 12:00am
Gold and silver hit highs in Europe

Gold and silver hit highs in Europe

Gold climbed to its highest level in nearly three weeks on Monday and silver hit a five-week peak, helped by a drop in the dollar against the euro and firmer oil. But the metals were expected to hover in their familiar trading range in the near term in ab
Published 05 Jun, 2007 12:00am
Australian re-writes Mukhtaran story

Australian re-writes Mukhtaran story

A Pakistan-based Australian Journalist, Bronwyn Curran has written a book "Into The Mirror" on the case of Mukhtaran Mai. She explores the ways of tribes as it weaves through rural Pakistan, reconstructing both sides of the story to unearth what really ha
Published 05 Jun, 2007 12:00am
World Environment Day today

World Environment Day today

World Environment Day will be celebrated the world over, including Pakistan on June 5. The day is one of the principal vehicles through which the United Nations stimulates world-wide awareness about environment and enhances attention and action.
Published 05 Jun, 2007 12:00am
MMA caravan in southern Punjab from July 1

MMA caravan in southern Punjab from July 1

The Muttahida Majlis-i-Amal (MMA) will launch the second phase of Tahafuz-e-Pakistan Caravan from southern Punjab on July 1, which will cover the area from Sahiwal to Dera Ghazi Khan and Layyah, Kasur to Vehari and Bahawalnagar to Bahawalpur.
Published 05 Jun, 2007 12:00am
152 educational institutions to get free medical treatment

152 educational institutions to get free medical treatment

On the instructions of Prime Minister Shaukat Aziz, the Ministry of Health will provide free diagnostic and treatment facilities to 152 educational institutions of Multan district. This was stated by Mian Faisal Mukhtar City District Nazim while presiding
Published 05 Jun, 2007 12:00am
PML(N) accuses government of ignoring demand for energy

PML(N) accuses government of ignoring demand for energy

A Leader of Pakistan Muslim (Nawaz), Ms Memona Hashmi, MNA, has said the government's biggest crime was ignoring the demands for energy, pointing out its failure to initiate even a single power generation project in its eight years period.
Published 05 Jun, 2007 12:00am
Media's role

Media's role

The judicial cum political crises has entered a delicate phase. In such critical situations, the media has a huge responsibility to shoulder. One expects the media to be unbiased, non-partisan and even-handed in its reporting.
Published 05 Jun, 2007 12:00am
Speeches at lawyers' seminar

Speeches at lawyers' seminar

It is hard to deny the unprecedented unity and strength demonstrated by the legal fraternity on May 26 at Islamabad. Lawyers from all parts of the country participated in the seminar on the independence of judiciary.
Published 05 Jun, 2007 12:00am
Activation tax, mobile industry performance

Activation tax, mobile industry performance

The reduction or elimination of the current activation tax on new mobile phone connections is essential if the mobile industry is to continue attracting foreign direct investment (FDI) in telecommunications. If today's Rs 500 activation tax is reauthorize
Published 05 Jun, 2007 12:00am
Fight to be 'local' heats up in British food

Fight to be 'local' heats up in British food

Even before it had opened, supermarket Ludlow Food Centre saw a flurry of letters in local newspapers from readers calling for a boycott of a new rival Tesco outlet in the local store's favour.
Published 05 Jun, 2007 12:00am
Basel II - managing IT risk

Basel II - managing IT risk

Financial services organisations are facing new challenges presented by the Second Capital Accord defined by the Basel Committee on Banking Supervision, colloquially known as " Basel II." The accord builds on an embryonic framework for managing risk in ba
Published 05 Jun, 2007 12:00am
Bloodbath in Tank

Bloodbath in Tank

The rest of the world may be familiar with a colonial mud-walled Tank as the place where a Lieutenant Governor of British Punjab, Sir Henry Durand, fatally hurt himself while passing on an elephant under a gateway in 1870, but for us in Pakistan it is not
Published 05 Jun, 2007 12:00am
Bailout package for Wapda

Bailout package for Wapda

The government has arranged a Rs 30.9 billion bailout package for Wapda to enable the utility to clear the backlog of payments it owes to IPPs as well as to meet its debt servicing obligations, says a Recorder Report quoting Finance Ministry source
Published 05 Jun, 2007 12:00am
Political activists on study trip to Netherlands

Political activists on study trip to Netherlands

A delegation of 13 political party activists left for a study tour to the Netherlands. The one-week visit is being organised by the National Democratic Institute for International Affairs (NDI) with the support of the Government of the Netherlands.
Published 05 Jun, 2007 12:00am
Labourer killed in explosion

Labourer killed in explosion

A labourer was killed and three others were injured when explosive device went off while off-loading scrap from a truck inside steel mills in Hayatabad Industrial Estate here on Monday. The labourers were off-loading the scrap at Frontier Foundry Pvt Ltd.
Published 05 Jun, 2007 12:00am
Media must abide by Pemra rules: Anwar Mahmood

Media must abide by Pemra rules: Anwar Mahmood

Secretary Information Syed Anwar Mahmood has said that the government fully believes in freedom of expression but the press, especially the electronic media, should also show self responsibility. Talking to private TV channel here on Monday, he urged the
Published 05 Jun, 2007 12:00am
Rs 50 million invested to provide free books to students

Rs 50 million invested to provide free books to students

Federal Director Education, Brigadier Maqsood-ul-Hassan (Retd) said the directorate has invested Rs 50 million in providing free books to students from class 1st to 10th in Islamabad Capital Territory (ICT) schools.
Published 05 Jun, 2007 12:00am
World standard university project planned for Mirpur

World standard university project planned for Mirpur

Initial work, including steps for site selection, has started for the establishment of a university of international standard in Mirpur to extend quality education to the students.
Published 05 Jun, 2007 12:00am
Commerce ministry to select trade officers

Commerce ministry to select trade officers

The ministry of commerce has initiated the process of selecting trade officers in BS-18, 19 and 20 for posting in the Pakistan missions abroad. The officers of the occupational groups namely, District Management Group, Customs, Income Tax, Commerce & Trad
Published 05 Jun, 2007 12:00am
Modern fire station for Lahore

Modern fire station for Lahore

First modern fire service stations under Punjab Emergency Service (Rescue 1122) to be inaugurated on Tuesday (June 5). Punjab Chief Minister Chaudhry Pervaiz Elahi would be the chief guest on the launching ceremony of the service stations.
Published 05 Jun, 2007 12:00am
Increase in wheat crop attributed to better government policies

Increase in wheat crop attributed to better government policies

Federal Minister for Food, Agriculture and Livestock Sikandar Hayat Bosan on Monday praised the government's efforts to enhance agriculture sector, and said that the record increase in wheat crop was due to better policies of the government.
Published 05 Jun, 2007 12:00am
Withholding tax on cheques increase in cash amount demanded

Withholding tax on cheques increase in cash amount demanded

Chairman, Pakistan Association of Auto Parts Exporters, Tahir Javaid Malik has demanded of the government to increase withholding tax limit on cheques from existing Rs 25,000 to Rs 200,000. In a statement issued on Monday, the Paapex chairman said that th
Published 05 Jun, 2007 12:00am
New jetties to be set up along coast: Rind

New jetties to be set up along coast: Rind

Balochistan Minister for Fisheries Mir Asghar Rind has said that the government is not only modernising all existing jetties and fish harbours but also establishing new facilities along the coast in the province.
Published 05 Jun, 2007 12:00am
Tourism division to concentrate on religious, domestic sides

Tourism division to concentrate on religious, domestic sides

Pakistan was expecting inflow of about 1 million tourists and therefore, the Tourism Division would concentrate on the development of adventure, culture, domestic and religious tourism development during the next year. The division presented this informat
Published 05 Jun, 2007 12:00am
Tevta fair starts from June 9

Tevta fair starts from June 9

Technical Education & Vocational Training Authority (Tevta), in collaboration with M/s Wateen plans, will organise Tevta's Fair on June 09, 2007 at Alhamra Art Gallery. Punjab Governor Lieutenant General Khalid Maqbool (Retd) will be the chief guest at th
Published 05 Jun, 2007 12:00am
Nestle team visits PCSIR

Nestle team visits PCSIR

Messrs Nestle Pakistan Limited, Managing Director Ronald Decorvet along with his management team comprising Peter Wuethrich, Head of Technical, and Dr Farhat Jamil, Head, Regulatory Affairs visited PCSIR Laboratories Complex, Lahore.
Published 05 Jun, 2007 12:00am
Population census next year

Population census next year

Federal Secretary, Statistics Division, Asad Elahi on Monday disclosed that population census would be held during next year while the village census (Mouza) will be commenced throughout the country on August 1, 2007 and it would be completed by the end o
Published 05 Jun, 2007 12:00am
Walk against pollution

Walk against pollution

A walk was organised jointly by Coalition Save Environment (CSE), City District Government, and Shaoor Traqqiayati Tanzeem for the public awareness to keep the environment safe. The walk began from Zikiriya Homeopathic college and concluded at Multan Deve
Published 05 Jun, 2007 12:00am
Wapda to commission 136 megawatts project

Wapda to commission 136 megawatts project

Water and Power Development Authority (Wapda) will commission a 136-megawatt (MW) Rental Power Project by the end of this month. This project will contribute 3.2 million units of electricity per day to the national grid to share the electricity consumptio
Published 05 Jun, 2007 12:00am
Sports vital for human nurturing

Sports vital for human nurturing

Sports has a great importance in growth of human mind and body. If human mind is broadened, education and study would also be larger so the government should focus on sports along with education. Punjab University vice-chancellor, Arshad Mahmood said this
Published 05 Jun, 2007 12:00am
PTV makes new policy for private programmes

PTV makes new policy for private programmes

Yousaf Beg Mirza has outlined a new policy of PTV for private programmes. At a dinner reception given by United Producers Association (UPA) in honour of MD Yousaf Beg Mirza and Director Marketing Muhammad Malik at a local hotel here on Monday, the new PTV
Published 05 Jun, 2007 12:00am
LHCBA moves to settle funds controversy

LHCBA moves to settle funds controversy

The Lahore High Court Bar Association (LHCBA) has amended the bar rules and added the name of bar president in signatories to resolve the issue of release of funds for expenditure incurred on the function of Chief Justice of Pakistan.
Published 05 Jun, 2007 12:00am
Lawyers observe token strike

Lawyers observe token strike

The lawyers' community observed their token strike here in metropolis in protest against the suspension of Chief Justice of Pakistan Iftikhar Muhammad Chaudhry. They did not appear before the courts for one hour and sat-in the hunger strike camps organise
Published 05 Jun, 2007 12:00am
Curbs on media to prove ineffective: PML-N

Curbs on media to prove ineffective: PML-N

Central Secretary Finance PML (N) Muhammad Pervaiz Malik, MNA, has said that restrictions on media would prove ineffective as efforts to control media through administrative measures is doomed to fail. Malik said here on Monday due to ill-conceived decisi
Published 05 Jun, 2007 12:00am
Hearing in Imran's plea adjourned

Hearing in Imran's plea adjourned

Lahore High Court (LHC) adjourned the proceedings in a petition filed by Chief of Tehrik-e-Insaf Imran Khan as home secretary failed to submit his reply. Khan had challenged restrictions imposed on him for leaving Lahore for three days.
Published 05 Jun, 2007 12:00am
The Weather

The Weather

The weather report on Monday (June 04, 2007) and the forecast for Tuesday (June 05, 2007).
Published 05 Jun, 2007 12:00am
Poultry industry seeks 10-year tax exemption

Poultry industry seeks 10-year tax exemption

Pakistan Poultry Association (Punjab Zone) has urged government to give poultry industry income tax exemption for 10 years in order to attract new investors in this business and ensure availability of poultry products within the affordable prices.
Published 05 Jun, 2007 12:00am
New York cotton

New York cotton

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

Published 05 Jun, 2007 12:00am
Pakistan Post moot from today

Pakistan Post moot from today

Pakistan Post is organising a "Quality of Service Conference on Express Post" from June 5 to 7 here. The Conference will focus on uplift and promotion of services with special reference to express post and its redesigning to cater to the changing requirem
Published 05 Jun, 2007 12:00am
New York cotton

New York cotton

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

Published 05 Jun, 2007 12:00am
Plea to withdraw sales tax on computers

Plea to withdraw sales tax on computers

Representatives of Computer Vendors Association (CVA) have said that 15 percent sales tax on computer industry is causing a downfall in IT industry of the country.
Published 05 Jun, 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 05 Jun, 2007 12:00am
Keda for impartial election body

Keda for impartial election body

Muhammad Irfan, Chairman Karachi Electronic Dealers and Small Traders Association has demanded for an impartial election commission for the election of Karachi Electronic Dealers Association (Keda).
Published 05 Jun, 2007 12:00am
Third Islamic economic forum's declaration issued

Third Islamic economic forum's declaration issued

World Islamic Economic Forum (WIEF) Advisory Panel Member and Federation of Pakistan Chamber of Commerce and Industries (FPCCI) former president Tariq Sayeed has issued the details of declaration adopted by the third WIEF held from May 27 to 29 in Kuala L
Published 05 Jun, 2007 12:00am
FPCCI endorses 'Groom a Muslim Leader Programme'

FPCCI endorses 'Groom a Muslim Leader Programme'

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has issued declaration adopted by the World Islamic Economic Forum (Wief) in its meeting held in Malaysia. The FPCCI delegation headed by former president Tariq Sayeed participated in th
Published 05 Jun, 2007 12:00am
CBR and IBA sign accord

CBR and IBA sign accord

The Central Board of Revenue (CBR) and Institute of Business Administration (IBA) on Monday signed an agreement for capacity building of tax officers. According to a press release issued here stated that the training modules have been specifically designe
Published 05 Jun, 2007 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (June 04, 2007).

Published 05 Jun, 2007 12:00am
IFJ condemns curbs on media

IFJ condemns curbs on media

The International Federation of Journalists (IFJ) is deeply disturbed by the trend of increasing restraints on the functioning of the media in Pakistan. The most recent manifestation of what is clearly a rising trend in intolerance of media freedom, comes
Published 05 Jun, 2007 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Monday (June 04, 2007) and for Tuesday (June 05, 2007).
Published 05 Jun, 2007 12:00am
Qatar Airways and Airbus ink MoU

Qatar Airways and Airbus ink MoU

Qatar Airways on Monday signed a Memorandum of Understanding (MoU) with Airbus to purchase 80 A350 aircraft The agreement was signed in Paris by Qatar Airways Chief Executive Officer Akbar Al Baker and Airbus President Louis Gallois in the presence of the
Published 05 Jun, 2007 12:00am
Pakistan to attend free zone convention in Brussels

Pakistan to attend free zone convention in Brussels

Pakistan will participate in the two-day World Free Zone Convention (WFZC), which started at World Customs Organisation (WCO) headquarters, Brussels, on Tuesday (June 5).
Published 05 Jun, 2007 12:00am
Saudi Pak Bank and Takaful Pakistan formalise partnership

Saudi Pak Bank and Takaful Pakistan formalise partnership

A simple yet impressive ceremony was held at the Central Office of Saudi Pak Bank to formalise the partnership of Saudi Pak Bank and Takaful Pakistan Limited. Aariz Ali, SEVP, Head of Business Development, Saudi Pak Bank and Muhammad Ashraf Ali Siddiqui,
Published 05 Jun, 2007 12:00am
Evening programme admissions at Karachi University begin

Evening programme admissions at Karachi University begin

The admissions to Evening Programme at Karachi University (KU) commenced from on Monday. The spokesman of the university further said that a number of candidates obtained prospectus for the admission to the masters classes.
Published 05 Jun, 2007 12:00am
Steps suggested to increase exports to EU countries

Steps suggested to increase exports to EU countries

Pakistan can improve the current level of $4.2 billion exports to European Union by adopting international quality standards. This was stated by a two-member delegation of the 'Centre for Promotion of Imports from Developing Countries' (CBI) visiting Paki
Published 05 Jun, 2007 12:00am
Chinese team calls on ICCI president

Chinese team calls on ICCI president

Eight-member trade Chinese delegation of China on Monday visited Islamabad Chamber of Commerce and Industry (ICCI) and held discussions with the ICCI president Nasir Khan.
Published 05 Jun, 2007 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (June 04, 2007).

Published 05 Jun, 2007 12:00am
Chinese company working on Sondha power plant

Chinese company working on Sondha power plant

China National Machinery Import Export Corporation is working on a 375MW coal-based power plant being setup at Sondha, Jheruk in Thatta district besides coal mining at a cost of 400 million dollars and at present 200 persons are working at the site.
Published 05 Jun, 2007 12:00am
Mango exporters seek subsidy in air freight

Mango exporters seek subsidy in air freight

Pakistan has captured the world mango market due to the good taste, flavour and high standard of its mangoes particularly 'Chaunsa, 'Anwar Ratole," 'Sindhari', 'Malda', 'Samar Behisht'. Now selling mangoes in the global market is becoming a bitter experie
Published 05 Jun, 2007 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (June 04, 2007).

Published 05 Jun, 2007 12:00am
Emirate Shipping Lines expanding trade lane

Emirate Shipping Lines expanding trade lane

The Emirate Shipping Lines having its own 15 ships was expanding trade lane in the world with fastest transit time, said Emirate Shipping Lines Manager for Asia Jamshed Safdar during his discussion with Faisalabad Dry Port Trust (FDPT) Chairman Chaudhry M
Published 05 Jun, 2007 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Monday (June 04, 2007).

Published 05 Jun, 2007 12:00am
PPP slams military role in politics

PPP slams military role in politics

Pakistan People's Party (PPP), Punjab vice president Malik Ahmed Hussain Dehar criticising the government said President General Pervez Musharraf had dragged the army into politics as a last effort to tighten his hold over power.
Published 05 Jun, 2007 12:00am
13228 tons seed found up to standard

13228 tons seed found up to standard

Public and private sectors seed agencies offered 15245 MT seed of different crops for testing/certification and 13228 MT of seed was found up to the standard in the country. According to official sources, tested quantity of imported seed was 1652. This re
Published 05 Jun, 2007 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Monday (June 04, 2007).

Published 05 Jun, 2007 12:00am
Five-day camp for disables persons

Five-day camp for disables persons

Lahore Businessmen Association for Rehabilitation of Disabled (Labard) is organising a 5-day camp at Captain Jamal Road, Near Asif Public School, Sanda Kalan, Lahore. The camp is being organised in collaboration with nazim, union council 84, Habibullah Bh
Published 05 Jun, 2007 12:00am
Tax refund fraud cases detected in Punjab

Tax refund fraud cases detected in Punjab

The National Accountability Bureau (NAB) has detected hundreds of cases in Punjab where sales tax refunds have been fraudulently given. Some officials of General Sales Tax colectorates were also found guilty of corruption. Under the GST law, no businessma
Published 05 Jun, 2007 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Monday (June 04, 2007).

Published 05 Jun, 2007 12:00am
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