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Print - 2007-06-12
Brazilian real firm

Brazilian real firm

Brazil's currency firmed on Monday even though the central bank said it would limit the ability of banks to place bets in the foreign exchange market, while stocks rose modestly. The real oscillated around the unchanged mark after opening weaker and later
Published 12 Jun, 2007 12:00am
Philippines markets closed

Philippines markets closed

Philippines financial markets are closed on Monday due to an official holiday. Trading resumes on Tuesday.
Published 12 Jun, 2007 12:00am
South Korean bonds extend losses

South Korean bonds extend losses

South Korean government bond prices extended losses on Monday, still weighed down by last week's concerns about a potential tightening in Bank of Korea monetary policy, dealers said. Tuesday's looming 3.5 trillion won monetary stabilisation bond auctions
Published 12 Jun, 2007 12:00am
South Korean bonds extend losses

South Korean bonds extend losses

South Korean government bond prices extended losses on Monday, still weighed down by last week's concerns about a potential tightening in Bank of Korea monetary policy, dealers said. Tuesday's looming 3.5 trillion won monetary stabilisation bond auctions
Published 12 Jun, 2007 12:00am
Indian shares close up 0.14 percent

Indian shares close up 0.14 percent

Indian shares pared early gains of almost 1.5 percent to end up just 0.14 percent on Monday - enough to end a three-day run of falls - as investors freed up funds to subscribe to the country's biggest-ever IPO.
Published 12 Jun, 2007 12:00am
Taiwan stocks higher

Taiwan stocks higher

Taiwan shares ended up 0.46 percent on Monday, led by gains in tech heavyweights such as TSMC and UMC after the world's top two contract chip makers reported improving sales. The main TAIEX share index finished 38.17 points higher at 8,338.88, as the elec
Published 12 Jun, 2007 12:00am
Hong Kong shares recover 0.6 percent

Hong Kong shares recover 0.6 percent

Hong Kong stocks rose on Monday, tracking a rebound on Wall Street, as mainland shares such as China Unicom surged after telecom network firm Ericsson signed a US $1 billion deal with the parent of China Mobile.
Published 12 Jun, 2007 12:00am
Malaysian shares post gains

Malaysian shares post gains

Malaysian share prices closed 0.39 percent higher Monday with property stocks posting strong gains amid a strong rebound on Wall Street at the end of last week, dealers said. The Kuala Lumpur Composite Index was up 5.27 points at 1,357.66, off a high of 1
Published 12 Jun, 2007 12:00am
Thai shares make slight gains

Thai shares make slight gains

Thai share prices closed 0.29 percent higher on Monday as investors downplayed rising tensions between anti-coup protesters and the military-backed government, dealers said. They said foreign investors were waiting for more US economic data set to be rele
Published 12 Jun, 2007 12:00am
Seoul shares slip

Seoul shares slip

Seoul shares fell for a second session on Monday as Doosan Heavy plunged after Goldman Sachs started coverage of the builder with a sell rating, while other recent shiners fell on worries valuations had grown too rich.
Published 12 Jun, 2007 12:00am
JGB futures fall to 11-month low

JGB futures fall to 11-month low

Japanese government bond futures hit an 11-month low as the lead contract changed during the session on Monday, on lingering worries over a Bank of Japan interest rate hike in coming months. A fall in US Treasuries in Asian trade after a rebound on Friday
Published 12 Jun, 2007 12:00am
JGB futures fall to 11-month low

JGB futures fall to 11-month low

Japanese government bond futures hit an 11-month low as the lead contract changed during the session on Monday, on lingering worries over a Bank of Japan interest rate hike in coming months. A fall in US Treasuries in Asian trade after a rebound on Friday
Published 12 Jun, 2007 12:00am
Chinese shares up 2.11 percent

Chinese shares up 2.11 percent

China's main stock index rose 2.11 percent on Monday, climbing for the fifth straight day and touching the 4,000-point level for the first time since a hike in the share trading tax last month triggered a plunge. The Shanghai Composite Index closed at 3,9
Published 12 Jun, 2007 12:00am
Indonesian shares climb

Indonesian shares climb

Indonesian share prices closed 1.44 percent higher Monday with sentiment bolstered by a rebound on Wall Street Friday and gains in some key Asian markets. Dealers said the rise was driven by major stocks such as Telkom and Perusahaan Gas Negara, as well a
Published 12 Jun, 2007 12:00am
Middle of China bond yield curve jumps

Middle of China bond yield curve jumps

The middle of China's bond yield curve rose sharply on Monday after China Development Bank auctioned bonds at a yield above forecasts. Money market rates were narrowly mixed as repo rates edged down.
Published 12 Jun, 2007 12:00am
Middle of China bond yield curve jumps

Middle of China bond yield curve jumps

The middle of China's bond yield curve rose sharply on Monday after China Development Bank auctioned bonds at a yield above forecasts. Money market rates were narrowly mixed as repo rates edged down.
Published 12 Jun, 2007 12:00am
Nikkei rises as exporters and insurers gain

Nikkei rises as exporters and insurers gain

The Nikkei rose 0.31 percent on Monday as Honda Motor Co and other exporters rose following gains in US stocks, while Mitsui Sumitomo Insurance Co Ltd and its peers rose on expectations it would benefit from higher yields on government bonds.
Published 12 Jun, 2007 12:00am
Indian rupee rises towards nine-year high

Indian rupee rises towards nine-year high

The Indian rupee climbed towards a recent nine-year high on Monday, as traders adjusted positions in anticipation of a surge in portfolio-related inflows, with gains limited only by concerns over central bank intervention.
Published 12 Jun, 2007 12:00am
Swiss franc stronger

Swiss franc stronger

The Swiss franc strengthened against the euro and eased slightly versus the dollar on Monday with eyes on the SNB's policy meeting on Thursday, where it is widely expected to raise interest rates by 25 basis points.
Published 12 Jun, 2007 12:00am
Hong Kong dollar little changed

Hong Kong dollar little changed

The value of the Hong Kong dollar edged up on Monday after rangebound trade, while the discount on local dollar forwards widened amid some selling interest in the long end. The currency was trading at 7.8133/35 against the US dollar, stronger than 7.8147/
Published 12 Jun, 2007 12:00am
New Zealand dollar sinks

New Zealand dollar sinks

The New Zealand dollar tumbled from a 22-year high versus the US dollar on Monday after selling by the Reserve Bank of New Zealand raised concerns about how much longer carry trades would continue.
Published 12 Jun, 2007 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 68.90/68.9450 (previous 68.92/69.00). Call Money Rates: 8.00-12.50 percent (previous 7.50-10.75 percent.
Published 12 Jun, 2007 12:00am
Taiwan dollar falls

Taiwan dollar falls

The Taiwan dollar fell on Monday after the yen lost ground as investors sold the low-yielding currency, but recent efforts by Taiwan's central bank to curb the local currency's weakness kept trade thin. The Taiwan dollar closed at T$33.009 to the US dolla
Published 12 Jun, 2007 12:00am
Asian currencies under pressure

Asian currencies under pressure

Most Asian currencies fell on Monday as investors readjusted positions amid fears of rising global interest rates, but dealers said the sell-off had little to do with a sharp fall in the New Zealand dollar. The ringgit fell as far as 3.4785 per dollar, do
Published 12 Jun, 2007 12:00am
Yuan ends down

Yuan ends down

A lower reference rate set by the Chinese central bank caused the yuan to close down against the dollar on Monday, extending last week's slide and erasing gains that followed Sino-US trade talks in May. The yuan's 0.36 percent drop over the past three tra
Published 12 Jun, 2007 12:00am
PCB seminar today

PCB seminar today

With a view to giving experience and exposure to the panel of 10 upcoming and emerging umpires, Pakistan Cricket Board (PCB) is holding a fast track panel umpires seminar from Tuesday (June 12) here at Gaddafi Stadium. General Manager umpires and referees
Published 12 Jun, 2007 12:00am
AFC elects Faisal to AFC body

AFC elects Faisal to AFC body

Asian Football Confederation (AFC) approved Pakistan Football Federation (PFF)'s President Makhdoom Syed Faisal Saleh Hayat in AFC Disciplinary Committee (Indonesian Leg) of 14th Asian Football Cup 2007.
Published 12 Jun, 2007 12:00am
Seeds fall on Queen's grass

Seeds fall on Queen's grass

Britain's grass season claimed its first ATP tour victims on Monday when 13th-seeded Korean Lee Hyung-Taik and 16th-seeded Spaniard Fernando Verdasco fell at Queen's. Lee could not find his grass range and went down 6-4 6-4 to British number three Alex Bo
Published 12 Jun, 2007 12:00am
Tired Federer pulls out of Halle

Tired Federer pulls out of Halle

Roger Federer pulled out of his regular Wimbledon warm-up event in Halle on Monday, blaming fatigue after losing to Rafael Nadal in Sunday's French Open final. "In an attempt to prevent injury after the long final in Paris, I cannot defend my title at the
Published 12 Jun, 2007 12:00am
Ford turns down India

Ford turns down India

Graham Ford on Monday threw India's preparations for their upcoming tour of England into chaos by snubbing an offer to become their new coach. The South African's decision to carry on in his current role as director of cricket at English county Kent came
Published 12 Jun, 2007 12:00am
Panesar, Harmison combine to beat West Indies in Third Test

Panesar, Harmison combine to beat West Indies in Third Test

Monty Panesar took 10 wickets in a Test for the first time as England beat West Indies by 60 runs to win the third Test at Old Trafford here Monday and so take an unbeatable 2-0 lead in the four-match series. West Indies, chasing what would have been a re
Published 12 Jun, 2007 12:00am
Romanian government survives no confidence vote

Romanian government survives no confidence vote

Romania's minority centrist government survived a parliamentary no-confidence vote on Monday that had been proposed by President Traian Basescu's opposition Democrat party.
Published 12 Jun, 2007 12:00am
Police prevent Egyptians from voting

Police prevent Egyptians from voting

Police on Monday stopped Egyptians voting in some areas where the opposition Muslim Brotherhood is strong, in the first elections under an amended constitution that makes life harder for the Islamists.
Published 12 Jun, 2007 12:00am
Kenyan rush-hour blast kills one

Kenyan rush-hour blast kills one

An apparent bomb blast in a Nairobi street on Monday killed one person, injured dozens and left a severed leg hanging from a shattered window. A senior policeman at the scene said the explosion, which also left a mangled corpse in the street and sent pass
Published 12 Jun, 2007 12:00am
Thailand to seize $1.5 billion of Thaksin assets

Thailand to seize $1.5 billion of Thaksin assets

Thailand's army-backed government said on Monday it would seize 21 bank accounts with assets worth 52.9 billion baht ($1.53 billion) from ousted Prime Minister Thaksin Shinawatra and his wife.
Published 12 Jun, 2007 12:00am
Over 86 killed in Bangladesh rain and landslides

Over 86 killed in Bangladesh rain and landslides

Rain and landslides have killed more than 86 people in Bangladesh as monsoon showers swept the country, officials said on Monday. Heavy rains triggered landslides that buried homes, killing 71 people and leaving scores of others missing in the port city o
Published 12 Jun, 2007 12:00am
Saudi king to head to Paris ahead of Lebanon talks

Saudi king to head to Paris ahead of Lebanon talks

Saudi King Abdullah is to head to Europe next week for a tour that will include talks in Paris ahead of a conference there aimed at ending Lebanon's crippling political deadlock. A Western diplomatic source told AFP that Abdullah, currently on holiday in
Published 12 Jun, 2007 12:00am
Man labelled 'enemy combatant' wins US court case

Man labelled 'enemy combatant' wins US court case

President George W. Bush cannot order the military to seize and indefinitely detain a Qatari national and suspected al Qaeda operative, the only person being held in the United States as an "enemy combatant," an appeals court ruled on Monday.
Published 12 Jun, 2007 12:00am
IAEA warns of Iran atomic risk amid EU-Tehran talks

IAEA warns of Iran atomic risk amid EU-Tehran talks

Iran's nuclear behaviour poses a serious concern it might gain the ability to build atom bombs, the UN atomic watchdog agency said on Monday as Tehran and the EU resumed talks but dampened expectations of a breakthrough.
Published 12 Jun, 2007 12:00am
Bush urges release of Bulgarian nurses from Libya

Bush urges release of Bulgarian nurses from Libya

President George W. Bush said on Monday it was a high priority for the United States to win the release of five Bulgarian nurses sentenced to death in Libya for infecting children with HIV.
Published 12 Jun, 2007 12:00am
Hamas and Fatah truce collapses in bloodshed; eight dead

Hamas and Fatah truce collapses in bloodshed; eight dead

Palestinian gunmen fought inside a hospital and fired on the prime minister's offices after a truce collapsed on Monday, killing eight people in factional violence that cast fresh doubt over the future of the unity coalition.
Published 12 Jun, 2007 12:00am
Three US soldiers killed in Iraq

Three US soldiers killed in Iraq

A suicide car bomb attack on a bridge overpass south of Baghdad late on Sunday killed three US soldiers and wounded six more, US military spokesman Lieutenant-Colonel Randy Martin said on Monday. The soldiers, who had been manning a checkpoint, were kille
Published 12 Jun, 2007 12:00am
Brown makes fact-finding visit to Iraq

Brown makes fact-finding visit to Iraq

Britain's next prime minister, Gordon Brown, assured Iraq's leaders on Monday of continued British support as he made a flying visit to Baghdad to "listen and learn" before he takes office later this month.
Published 12 Jun, 2007 12:00am
Sterling eases versus dollar

Sterling eases versus dollar

Sterling eased against the dollar on Monday, extending losses seen last week after a surge in US government bond yields boosted the greenback broadly. The major data focus was seen on inflation this week, with key CPI figures due on Tuesday as investors l
Published 12 Jun, 2007 12:00am
New Zealand tumbles in London

New Zealand tumbles in London

The New Zealand dollar tumbled as much as 2 percent from a 22-year high versus the US dollar on Monday after selling by the Reserve Bank of New Zealand, but the impact on funding currencies such as the yen was limited.
Published 12 Jun, 2007 12:00am
Crossover index tightens

Crossover index tightens

European credit indexes tightened on Monday as European equities moved into positive territory and government bond yields showed less volatility than in recent sessions. After widening out sharply at the end of last week, the iTraxx Crossover index, made
Published 12 Jun, 2007 12:00am
Crossover index tightens

Crossover index tightens

European credit indexes tightened on Monday as European equities moved into positive territory and government bond yields showed less volatility than in recent sessions. After widening out sharply at the end of last week, the iTraxx Crossover index, made
Published 12 Jun, 2007 12:00am
Thai shares make slight gains

Thai shares make slight gains

Thai share prices closed 0.29 percent higher on Monday as investors downplayed rising tensions between anti-coup protesters and the military-backed government, dealers said. They said foreign investors were waiting for more US economic data set to be rele
Published 12 Jun, 2007 12:00am
Singapore shares firmer

Singapore shares firmer

Singapore share prices closed 1.54 percent higher Monday as investor confidence surged after Wall Street rebounded strongly at the end of last week, dealers said. They said the market was poised to gain in strength with the local economy growing strongly
Published 12 Jun, 2007 12:00am
FTSE up as banks, miners support; Rexam dips

FTSE up as banks, miners support; Rexam dips

The FTSE 100 index of Britain's leading shares ended up 0.96 percent on Monday to reverse some of the losses suffered last week after fears that global interest rates were headed higher.
Published 12 Jun, 2007 12:00am
Shanghai copper falls

Shanghai copper falls

Shanghai copper fell 2.9 percent on Monday, tracking a 4-percent slide in London futures in the previous session, as investors waited for data on China's copper trade expected this week.
Published 12 Jun, 2007 12:00am
New York cotton futures close higher

New York cotton futures close higher

Cotton futures closed higher on Monday due to steady fusillade of speculative buying as the market shrugged off a government report and got a boost from surging grains prices, brokers said.
Published 12 Jun, 2007 12:00am
Base metals rebound

Base metals rebound

Industrial metals rebounded on Monday from Friday's sell-off in global markets and analysts said copper was underpinned by talk of potential strikes in Chile.
Published 12 Jun, 2007 12:00am
Oil springs back; Saudi Arabian supply curbs remain

Oil springs back; Saudi Arabian supply curbs remain

Oil rose well above $69 a barrel on Monday, buoyed by news leading exporter Saudi Arabia would keep Opec supply curbs in place through July. The sharp gains came alongside a broad rebound in other commodities markets after uncertainty over interest rates
Published 12 Jun, 2007 12:00am
Gold rises in Europe

Gold rises in Europe

Gold rose in Europe on Monday as physical buying lifted prices off last week's three-month low, but the market remained vulnerable to further selling, traders said.
Published 12 Jun, 2007 12:00am
Integrated healthcare plan for AJK

Integrated healthcare plan for AJK

An integrated plan has been inked by the AJK government to extend latest medical facilities to the ailing humanity across Azad Jammu and Kashmir particularly in remote and far-flung areas of the liberated territory, official sources said.
Published 12 Jun, 2007 12:00am
Decision to file new reference against Chief Justice slammed

Decision to file new reference against Chief Justice slammed

The lawyers of southern Punjab have blasted government for its plan to file a new reference against Chief Justice of Pakistan Iftikhar Muhammad Chaudhry, vowing that black coats would defy any such attempt that, according to them, would be another blunder
Published 12 Jun, 2007 12:00am
Government employees and pensioners hail budget

Government employees and pensioners hail budget

People belonging to various shades of life have hailed the 2007-08 Federal budget and termed it common man's budget. Similarly, the federal budget was also widely welcomed by a large number of government employees and pensioners in Sialkot district.
Published 12 Jun, 2007 12:00am
Baitul-Maal releases funds for 48,000 beneficiaries

Baitul-Maal releases funds for 48,000 beneficiaries

Pakistan Bait-ul-Maal (PBM) has released the 12th instalment under the Food Support Program (FSP), to provide Rs 3,000 each to a total of 48,000 beneficiaries in Faisalabad.
Published 12 Jun, 2007 12:00am
NFC Award to be raised to 46 percent in 2007-08: Saifullah

NFC Award to be raised to 46 percent in 2007-08: Saifullah

The increased provincial share out of NFC Award in the fiscal budget 2007-08 would help promote inter-provincial harmony, said Federal Minister for Inter Provincial Coordination (IPC) Salim Saifullah Khan.
Published 12 Jun, 2007 12:00am
Saudi woman as pharmacist

Saudi woman as pharmacist

We are pleased to see the Photograph in the Business Recorder of 5th June, in which a female Saudi pharmacist is shown working as a at the International Medical Centre as more Saudi woman are breaking with strict tradition to take their place in th
Published 12 Jun, 2007 12:00am
Electricity breakdowns

Electricity breakdowns

Summer is becoming synonymous with the electricity breakdown or load shedding here in Karachi. The scorching days and sleepless nights of citizens are enough to exemplify the fictitious claims of overcoming this problem by the KESC.
Published 12 Jun, 2007 12:00am
Innocent travellers cheated

Innocent travellers cheated

Please help the victims of a private airline. I am the victim of buying tickets on the net from an airline. Their operations were affected by the CAA for their malpractices/corruption. Flights were cancelled and it is three months past that they are not r
Published 12 Jun, 2007 12:00am
Privatisation should be or shouldn't be?

Privatisation should be or shouldn't be?

Privatisation is a conversion of ownership from the government sector to the private sector. The idea is implemented as one of the preventive measures to reduce foreign burden, eliminate poverty and to save our economy from the decline of major industries
Published 12 Jun, 2007 12:00am
Pardons hard to come by in Saudi Arabia as executions rise

Pardons hard to come by in Saudi Arabia as executions rise

Not even the king can save a convict on death row for premeditated murder from the executioner's sword in Saudi Arabia. The death penalty is here to stay in the ultra-conservative kingdom, where there has been a dramatic spike in the number of executions
Published 12 Jun, 2007 12:00am
Import under-invoicing: threat to local industries

Import under-invoicing: threat to local industries

The reasons for value manipulation are well known. In the developing countries, where the import duty rates are usually high, the importers tend to undervalue the consignments to reduce their duty liability. Some countries also maintain quantitative restr
Published 12 Jun, 2007 12:00am
Improved statistics, poorer living conditions

Improved statistics, poorer living conditions

The Economic Survey for 2006-07, released by the government a day before the budget, depicts a highly positive picture of the economy. The most outstanding achievement was the continuation of growth momentum at a very healthy rate. Real economic growth ac
Published 12 Jun, 2007 12:00am
KSE approves POAF's application for formal listing

KSE approves POAF's application for formal listing

The Karachi Stock Exchange (KSE) has approved the application for formal listing and quotation of certificates of the Pak Oman Advantage Fund (POAF) on completion of all formalities required under the Listing Regulations of the exchange.
Published 12 Jun, 2007 12:00am
PQATI not happy with budget

PQATI not happy with budget

Port Qasim Association of Trade & Industry (PQATI) Chairman Naeem Ilyas Khanani said that federal budget proposals are politically motivated document focusing more on reduction in food inflation through expansion in Utility Stores network and not by impro
Published 12 Jun, 2007 12:00am
Remission in water rate, land tax allowed

Remission in water rate, land tax allowed

The Revenue Department, Government of Sindh with the approval of Chief Minister Sindh Dr Arbab Rahim has allowed remission of Kharif 2006 in water rate, land tax, local cess and drainage cess to the 1,243 dehs of 27 talukas of the province on account of d
Published 12 Jun, 2007 12:00am
KSE terms budget growth-oriented

KSE terms budget growth-oriented

The Karachi Stock Exchange (KSE) has welcomed various measures announced by the minister in the budget 2007-08 and termed it growth-oriented as no new taxes have been proposed. Acceptance of KSE proposals for demutualisation will help in speedy and smooth
Published 12 Jun, 2007 12:00am
BankIslami offers Shariah based products

BankIslami offers Shariah based products

The BankIslami is aiming at taking Shariah compliance to a level extending it to marketing, human resources and general outlook. This was stated by BankIslami CEO Hasan Bilgrami at an open house which was basically aimed at creating awareness of the Shari
Published 12 Jun, 2007 12:00am
Sketches depicting old Karachi on display

Sketches depicting old Karachi on display

A painter from Karachi, Roohi Ahmad is exhibiting 20 panels of black and white sketches in the new building of the National Arts Gallery, here. The sketches are about landmarks that one sees as passenger boards on 18 travel routs of the city.
Published 12 Jun, 2007 12:00am
B Com exams start today

B Com exams start today

Punjab University's B.Com exams are starting on Tuesday (June 12) for which Punjab University has set up 230 examination centres in 21 districts of five divisions. As many as 144 centres have been established for B.Com part-II examination in which 32,000
Published 12 Jun, 2007 12:00am
Wapda flayed for frequent loadshedding

Wapda flayed for frequent loadshedding

People belonging to various walks of life, including businessmen and students, have expressed deep concern over the poor performance of the Water and Power Development Authority (Wapda), and demanded of the Wapda Chairman to resign voluntarily for renderi
Published 12 Jun, 2007 12:00am
TOO 2007 leaves 'Sword of Damocles' hanging

TOO 2007 leaves 'Sword of Damocles' hanging

The Trade Organisations Ordinance (TOO) 2007, promulgated on June 5, has left the 'Sword of Damocles' hanging on the trade bodies. The Trade Organisations Ordinance 2006 promulgated in December last year had replaced Trade Organisations Ordinance of 1961
Published 12 Jun, 2007 12:00am
Mango growers hail budget

Mango growers hail budget

President of the Mango Growers Association Pakistan Zahid Hussain Gardezi has said that the budget proposals for agriculture sector are good, yet they fall short off the desired allocations and attention to develop agro economy by the government.
Published 12 Jun, 2007 12:00am
Iranian team visits GCU

Iranian team visits GCU

A three member delegation led by General Manager of Foreign Students of the Ministry of Research, Science and Technology Iran Agha Yazdan Panah, on Monday visited GC University (GCU) Lahore and met Vice-chancellor Professor Dr Khalid Aftab.
Published 12 Jun, 2007 12:00am
SNGPL clarifies position on gas supply to Kapco

SNGPL clarifies position on gas supply to Kapco

This refers to an item, which appeared in "Business Recorder" on June 7, 2007 under the head of "Wapda protests against reduction in gas supply to Kapco" whereby Wapda has demanded an enhanced gas allocation for Kapco.
Published 12 Jun, 2007 12:00am
Government urged to withdraw 30 percent tax on LPG

Government urged to withdraw 30 percent tax on LPG

Chairman Pakistan LPG Distributors Association Abdul Hadi Khan has urged the government to withdraw 30 percent tax imposed on LPG as it is too high and is causing fast decline in consumption of this cheaper fuel. He also urged the government not to link t
Published 12 Jun, 2007 12:00am
PSMA laments government's apathy in budget

PSMA laments government's apathy in budget

Pakistan Sugar Mills Association (PSMA) said on Monday that the government has ignored the needs of manufacturing sector in the budget and feared a loss of $3 to 4 billion in case sugar industry became sick.
Published 12 Jun, 2007 12:00am
Low-cost housing: KCCI advises public-private alliance

Low-cost housing: KCCI advises public-private alliance

Chairman, Housing and Construction Sub Committee of the Karachi Chamber of Commerce and Industry (KCCI), Munir Sultan has urged the government to initiate a new scheme of providing around 100,000 low-cost housing units in collaboration with the private se
Published 12 Jun, 2007 12:00am
Separate industrial zones for Chinese investors planned

Separate industrial zones for Chinese investors planned

Punjab Chief Minister Chaudhry Pervaiz Elahi has said that industrial and economic relations between Pakistan and China are based on sound foundations, which are strengthening with the passage of time. He was talking to a Chinese delegation led by newly a
Published 12 Jun, 2007 12:00am
Transfers and postings

Transfers and postings

The Chief Justice of Lahore High Court (LHC) has transferred and posted twelve civil judge-cum-judicial magistrates. According to a notification civil judge-cum-judicial magistrate Hussain Syed has been transferred from Lahore to Faisalabad, Muhammad Zafa
Published 12 Jun, 2007 12:00am
Lahore still sizzles at 45oC

Lahore still sizzles at 45oC

Despite drop in mercury by three degree centigrade, the provincial metropolis like other parts of the country remained in the grip of scorching hot weather on Monday. On Sunday, the maximum temperature in Lahore was 48 degrees centigrade, which dropped to
Published 12 Jun, 2007 12:00am
LHC seeks report on former minister's plea

LHC seeks report on former minister's plea

Lahore High Court (LHC) has issued notices to interior ministry and other respondents for June 12 in a petition filed by former federal minister Chaudhry Ahmad Mukhtar seeking permission to go abroad. The court also directed the law officer to appear befo
Published 12 Jun, 2007 12:00am
Lums to train senior tax officials

Lums to train senior tax officials

The Central Board of Revenue (CBR) and Lahore University of Management Sciences (Lums) have inked an agreement for capacity building of tax officials of BPS- 20 and above. The CBR on Monday announced that the agreement is a part of the CBR's reform progra
Published 12 Jun, 2007 12:00am
Jamadi-us-Sani moon likely on June 15

Jamadi-us-Sani moon likely on June 15

Pakistan Space and Upper Atmosphere Research Commission (Suparco) says that the predicted parameters for new moon of Jamadi-us-Sani evident that the chances of sighting the new moon on June 15 in Pakistan are very low. So the first of Jamadi-us-Sani 1428
Published 12 Jun, 2007 12:00am
Saarc energy experts leave for Jakarta

Saarc energy experts leave for Jakarta

A 20-member delegation of senior energy experts from eight South Asian Association of Regional Countries (Saarc) left for Jakarta for discussions to enhance cooperation between Saarc and Asean countries in energy sector.
Published 12 Jun, 2007 12:00am
ICMAP seminar

ICMAP seminar

The Karachi branch Council of the Institute of Cost and Management Accountants of Pakistan (ICMAP) is organising a post-budget 2007-08 seminar at a local hotel on Tuesday. According to a press release here on Monday, Regional Tax Office Director General A
Published 12 Jun, 2007 12:00am
JCR-VIS upgrades Crescent bank by three (3) notches to 'A'

JCR-VIS upgrades Crescent bank by three (3) notches to 'A'

Pakistan's banking sector has shown significant growth in recent years and continues to offer attractive returns to investors in this sector. The extraordinary growth in the banking sector is the result of conducive regulatory environment and investor fri
Published 12 Jun, 2007 12:00am
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