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Print - 2007-08-02
PSO to buy 33,000 tonnes jet fuel

PSO to buy 33,000 tonnes jet fuel

Pakistan State Oil Company Ltd is tendering to buy 33,000 tonnes of jet fuel for delivery from late August to October, up from the 22,000 tonnes bought previously, said a senior company official on Wednesday. PSO requested the first cargo for delivery int
Published 02 Aug, 2007 12:00am
JCR-VIS reaffirms AAA rating of Security Papers Limited

JCR-VIS reaffirms AAA rating of Security Papers Limited

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the medium to long-term entity rating of AAA (Triple A) and short-term rating of A-1+ (A one Plus) assigned to Pakistan Security Printing Corporation (Pvt) Ltd (PSPC).
Published 02 Aug, 2007 12:00am
JCR-VIS reaffirms AAA rating of Security Papers Limited

JCR-VIS reaffirms AAA rating of Security Papers Limited

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the medium to long-term entity rating of AAA (Triple A) and short-term rating of A-1+ (A one Plus) assigned to Pakistan Security Printing Corporation (Pvt) Ltd (PSPC).
Published 02 Aug, 2007 12:00am
DHA starts Rs 140 million project

DHA starts Rs 140 million project

The Defence Housing Authority (DHA) Islamabad has started construction work on Rs 140 million Sewage Water Treatment Plant. The project would be completed an allocated period of 15 months period. Malaysian High Commissioner Ahmed Shahnazan and Vice Presid
Published 02 Aug, 2007 12:00am
Commecs gets degree awarding status

Commecs gets degree awarding status

Commecs Institute of Business and Emerging Sciences (CIBES) established in 1993 is run by a group of committed philanthropists under the Commecs Educational Trust-a "not-for-profit" organisation, which is also certified for quality standards in internal g
Published 02 Aug, 2007 12:00am
Board-in-council approves audit plan

Board-in-council approves audit plan

Board-in-council has approved the National Audit Plan and National Audit Manual drafted by the international audit expert. Sources told Business Recorder on Wednesday that the World Bank (WB) funded foreign consultant presented the new audit plan b
Published 02 Aug, 2007 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

If nobody stops me being a bit cynical, I would say politics in Pakistan has always been beleaguered. But it was never in the wildest of my dream that the situation could go to such an extent. In fact, no body could have predicted it even a few years ago.
Published 02 Aug, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (July 11, 2007).

Published 02 Aug, 2007 12:00am
Rs 15.35 billion projects for LEAs capacity building: Sherpao

Rs 15.35 billion projects for LEAs capacity building: Sherpao

The Minister for Interior Aftab Ahmad Khan Sherpao informed the National Assembly on Wednesday that the government has started projects for enhancing capacity of Law Enforcement Agencies (LEAs) to curb terrorism, at an estimated cost of Rs 15.35 billion.
Published 02 Aug, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (July 11, 2007).

Published 02 Aug, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (July 11, 2007).

Published 02 Aug, 2007 12:00am
Documentation: FBR to obtain CNG stations list from Ogra

Documentation: FBR to obtain CNG stations list from Ogra

The Federal Board of Revenue (FBR) has approached Oil and Gas Regulatory Authority (Ogra) for obtaining list of all CNG stations for documentation of this sector. Sources told Business Recorder on Wednesday the collection of sales tax from CNG stat
Published 02 Aug, 2007 12:00am
Documentation: FBR to obtain CNG stations list from Ogra

Documentation: FBR to obtain CNG stations list from Ogra

The Federal Board of Revenue (FBR) has approached Oil and Gas Regulatory Authority (Ogra) for obtaining list of all CNG stations for documentation of this sector. Sources told Business Recorder on Wednesday the collection of sales tax from CNG stat
Published 02 Aug, 2007 12:00am
Documentation: FBR to obtain CNG stations list from Ogra

Documentation: FBR to obtain CNG stations list from Ogra

The Federal Board of Revenue (FBR) has approached Oil and Gas Regulatory Authority (Ogra) for obtaining list of all CNG stations for documentation of this sector. Sources told Business Recorder on Wednesday the collection of sales tax from CNG stat
Published 02 Aug, 2007 12:00am
July tax collection up by Rs four billion

July tax collection up by Rs four billion

The Federal Board of Revenue (FBR) has collected Rs 49.1 billion during July 2007 against the target of Rs 45.1 billion, showing an increase of Rs 4 billion. According to the provisional figures (up to July 31) released on Wednesday, direct taxes collecti
Published 02 Aug, 2007 12:00am
KKI closing rates of currency notes

KKI closing rates of currency notes

Khanani & Kalia International (Pvt) Limited Closing Rates of currency notes on Wednesday (August 01, 2007).

Published 02 Aug, 2007 12:00am
July tax collection up by Rs four billion

July tax collection up by Rs four billion

The Federal Board of Revenue (FBR) has collected Rs 49.1 billion during July 2007 against the target of Rs 45.1 billion, showing an increase of Rs 4 billion. According to the provisional figures (up to July 31) released on Wednesday, direct taxes collecti
Published 02 Aug, 2007 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (August 01, 2007).

Published 02 Aug, 2007 12:00am
July tax collection up by Rs four billion

July tax collection up by Rs four billion

The Federal Board of Revenue (FBR) has collected Rs 49.1 billion during July 2007 against the target of Rs 45.1 billion, showing an increase of Rs 4 billion. According to the provisional figures (up to July 31) released on Wednesday, direct taxes collecti
Published 02 Aug, 2007 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Wednesday (August 01, 2007).

Published 02 Aug, 2007 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Wednesday (August 01, 2007).

Published 02 Aug, 2007 12:00am
Treasury bills yields rise

Treasury bills yields rise

Yields on Treasury Bills rose at an auction on Wednesday, a day after the State Bank of Pakistan announced it was increasing its key discount rate to 10.0 percent from 9.5 percent.
Published 02 Aug, 2007 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Wednesday (August 01, 2007).

Published 02 Aug, 2007 12:00am
Treasury bills yields rise

Treasury bills yields rise

Yields on Treasury Bills rose at an auction on Wednesday, a day after the State Bank of Pakistan announced it was increasing its key discount rate to 10.0 percent from 9.5 percent.
Published 02 Aug, 2007 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (August 01, 2007).

Published 02 Aug, 2007 12:00am
Treasury bills yields rise

Treasury bills yields rise

Yields on Treasury Bills rose at an auction on Wednesday, a day after the State Bank of Pakistan announced it was increasing its key discount rate to 10.0 percent from 9.5 percent.
Published 02 Aug, 2007 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 02 Aug, 2007 12:00am
Treasury bills yields rise

Treasury bills yields rise

Yields on Treasury Bills rose at an auction on Wednesday, a day after the State Bank of Pakistan announced it was increasing its key discount rate to 10.0 percent from 9.5 percent.
Published 02 Aug, 2007 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 02 Aug, 2007 12:00am
New FST chairman in a couple of days

New FST chairman in a couple of days

The Federal Government has informed the Supreme Court that the vacant post of the Chairman Federal Services Tribunal would be filled in a couple of days. A three-member full bench of the Supreme Court headed by the Chief Justice Iftikhar Mohammad Chaudhry
Published 02 Aug, 2007 12:00am
New FST chairman in a couple of days

New FST chairman in a couple of days

The Federal Government has informed the Supreme Court that the vacant post of the Chairman Federal Services Tribunal would be filled in a couple of days. A three-member full bench of the Supreme Court headed by the Chief Justice Iftikhar Mohammad Chaudhry
Published 02 Aug, 2007 12:00am
New FST chairman in a couple of days

New FST chairman in a couple of days

The Federal Government has informed the Supreme Court that the vacant post of the Chairman Federal Services Tribunal would be filled in a couple of days. A three-member full bench of the Supreme Court headed by the Chief Justice Iftikhar Mohammad Chaudhry
Published 02 Aug, 2007 12:00am
Private - Public - Partnership FIEDMC - A Case Study

Private - Public - Partnership FIEDMC - A Case Study

Historically, the responsibility for social service delivery and infrastructure development has rested primarily with the government. However, the private sector is increasingly playing an important role in the delivery of services even in the countries w
Published 02 Aug, 2007 12:00am
RTO Karachi exceeds tax collection target

RTO Karachi exceeds tax collection target

The Regional Tax Office (RTO), Karachi, has surpassed the revenue collection target of Rs 73.8 billion which was set for the fiscal 2006-07 by Rs 1.2 billion. According to provisional statistics made available to Business Recorder here on Wednesday
Published 02 Aug, 2007 12:00am
M-3 Industrial City

M-3 Industrial City

M-3 Industrial City is the largest industrial estate of Pakistan. Strategically located on Motorway M-3 South near Faisalabad, this industrial estate provides the highest level of international industrial infrastructure and is attracting massive local and
Published 02 Aug, 2007 12:00am
UK-based Pakistani firm listed on PLUS markets

UK-based Pakistani firm listed on PLUS markets

A UK-based Pakistani company which is set to explore coal in Sindh has been successfully approved for a listing on PLUS markets with its shares due for trading from Thursday. Oracle Coalfields plc has raised funds through private and institutional investo
Published 02 Aug, 2007 12:00am
One Window Operation

One Window Operation

With the focus on customer services. FIEDMC has a task in hand to deal with prospective customers with utmost professionalism. Our scope of service does not limit us to the sale of real estate only, but we are ready to walk an extra mile in facilitating o
Published 02 Aug, 2007 12:00am
UK-based Pakistani firm listed on PLUS markets

UK-based Pakistani firm listed on PLUS markets

A UK-based Pakistani company which is set to explore coal in Sindh has been successfully approved for a listing on PLUS markets with its shares due for trading from Thursday. Oracle Coalfields plc has raised funds through private and institutional investo
Published 02 Aug, 2007 12:00am
Message from COO, FIEDMC

Message from COO, FIEDMC

It is a matter of great pleasure for the management and employees of FIEDMC to launch the company's most prestigious project of M-3 Industrial City (M-3 IC). After having already developed an industrial estate, we can rightly claim to be amongst the best
Published 02 Aug, 2007 12:00am
UK-based Pakistani firm listed on PLUS markets

UK-based Pakistani firm listed on PLUS markets

A UK-based Pakistani company which is set to explore coal in Sindh has been successfully approved for a listing on PLUS markets with its shares due for trading from Thursday. Oracle Coalfields plc has raised funds through private and institutional investo
Published 02 Aug, 2007 12:00am
Message from chief executive officer, FIEDMC

Message from chief executive officer, FIEDMC

The difference between developed western world and underdeveloped eastern part of planet was minimal before the advent of industrial revolution. Industrial revolution played a pivotal role in giving present shape to the continent of Europe and subsequentl
Published 02 Aug, 2007 12:00am
'Pakistan needs quantum jump in power generation'

'Pakistan needs quantum jump in power generation'

Water and Power Development Authority (Wapda) Chairman Tariq Hamid has said Pakistan needs a quantum jump in the power generation and this is possible only through construction of more than one mega dams catering to the increasing needs of the water short
Published 02 Aug, 2007 12:00am
Message from Chairman FIEDMC

Message from Chairman FIEDMC

It gives me immense pleasure to formally declare the launching of the first phase of M3 Industrial City no doubt, it is a historic occasion for a life-time dream of the President of Pakistan and Chief Minister of Punjab to come true-the dream of a spatial
Published 02 Aug, 2007 12:00am
$10 billion industrial estate inaugurated

$10 billion industrial estate inaugurated

Punjab Chief Minister Chaudhry Pervaiz Elahi inaugurating first phase of M-3 Industrial City Faisalabad at a local hotel said that with investment of $10 billion, largest industrial estate in the country was being established. He said the industrial estat
Published 02 Aug, 2007 12:00am
Message from Chief Minister Punjab

Message from Chief Minister Punjab

It is a matter of great pleasure to know that the Faisalabad Industrial Etate Development & Management Company (FIEDMC) is launching the sales of M3 Industrial City. I would like to congratulate the management of FIEDMC and all its team members on this oc
Published 02 Aug, 2007 12:00am
Oil prices remain unchanged

Oil prices remain unchanged

Oil and Gas Regulatory Authority (OGRA) has decided to maintain the present prices of petroleum products for the next 15 days at the present level. According to OGRA, petroleum price was Rs 53.70, HOBC price Rs 64.88, kerosene oil Rs 35.23 and light diese
Published 02 Aug, 2007 12:00am
Message from Governor Punjab

Message from Governor Punjab

It gives me immense satisfaction to observe that the concept of public-private partnership is flourishing in Punjab with tangible and productive results. Faisalabad Industrial Estate Development & Management Company (FIEDMC) is an example of the success o
Published 02 Aug, 2007 12:00am
Militants start vacating Mohmand 'Lal Masjid'

Militants start vacating Mohmand 'Lal Masjid'

The hooded and armed militants have started vacation of the mausoleum of Haji Sahib Turangzai, great freedom fighter and mosque after holding successful rounds of negotiations with the members of jirga, reports pouring from the far-flung hamlet of Mohmand
Published 02 Aug, 2007 12:00am
Message from Prime Minister Islamic Republic of Pakistan

Message from Prime Minister Islamic Republic of Pakistan

Pakistan has today emerged as one of the fastest growing economies of Asia. It is an outcome of the hard work and dedication of the Government and people of Pakistan that we have succeeded in bringing about such a great change in the country's economic co
Published 02 Aug, 2007 12:00am
Terra Firma wins takeover play for Beatles label EMI

Terra Firma wins takeover play for Beatles label EMI

Private equity group Terra Firma said Wednesday it had won control of British music publisher EMI, which is home to The Beatles and Coldplay, after clinching 90 percent of its shares.
Published 02 Aug, 2007 12:00am
Message from The President Islamic Republic of Pakistan

Message from The President Islamic Republic of Pakistan

To face the challenges of the twenty first century, Pakistan has adopted a policy of enlightened moderation. This broad policy framework requires Pakistan to embrace modern technology and absorb it expeditiously in our industry.
Published 02 Aug, 2007 12:00am
Google wary of behavioural targeting in online ads

Google wary of behavioural targeting in online ads

Google Inc is looking to find more links between the searches its users do in order to better target advertising, but the company is reluctant to go much further than that in tracking their behaviour.
Published 02 Aug, 2007 12:00am
BNP Paribas profit up

BNP Paribas profit up

BNP Paribas, France's biggest listed bank, reported a 20 percent rise in second-quarter net profit on Wednesday but its shares fell as concerns about US housing loans led markets lower.
Published 02 Aug, 2007 12:00am
Vision Statement

Vision Statement

The Nestlé global vision is to be the leading Health, Weilness, and Nutrition Company in the world. Nestlé Pakistan Ltd subscribes fully to this vision. We envision to: Lead a dynamic motivated and professional workforce - proud of its heritage and bullis
Published 02 Aug, 2007 12:00am
BNP Paribas profit up

BNP Paribas profit up

BNP Paribas, France's biggest listed bank, reported a 20 percent rise in second-quarter net profit on Wednesday but its shares fell as concerns about US housing loans led markets lower.
Published 02 Aug, 2007 12:00am
Nestle Pakistan Limited Swiss Company with a Pakistani pulse

Nestle Pakistan Limited Swiss Company with a Pakistani pulse

Nestle S.A. is the world's largest Food and Beverages Company, and a global leader in Health, Nutrition and Weliness. Consumers around the world, from villages in Pakistan to the skyscrapers of New York and Chicago, are united by the Nestlé promise of qua
Published 02 Aug, 2007 12:00am
Deutsche Bank sidesteps credit crunch in second quarter

Deutsche Bank sidesteps credit crunch in second quarter

Deutsche Bank side-stepped the US sub-prime mortgage lending crisis to beef up profit in the second quarter on the back of strong sales and trading. As credit concerns knocked markets lower around Europe, the chief executive of Germany's flagship bank tol
Published 02 Aug, 2007 12:00am
The Nestle Philosophy Good Food, Good Life

The Nestle Philosophy Good Food, Good Life

Since our founding, Health, Nutrition and Weliness have been central to the Nestlé vision. 140 years after Henri Nestlé, nutrition is, more than ever, the key to our company's future. Even as we enter the new millennium and adapt to the changing needs of
Published 02 Aug, 2007 12:00am
LSE declines by 25.37 points

LSE declines by 25.37 points

The share market saw an erratic movement on Wednesday amid lack of interest from buyers staying aloof because of the prevailing political uncertainty but late session pressure forced it to close easier. The LSE-25 index declined by 25.37 points closing at
Published 02 Aug, 2007 12:00am
Swiss Made Quality

Swiss Made Quality

Switzerland's economy is based on a highly qualified labour force performing skilled work. The main areas include micro technology, hi-tech, biotechnology and pharmaceuticals, as well as banking and insurance know-how.
Published 02 Aug, 2007 12:00am
LSE declines by 25.37 points

LSE declines by 25.37 points

The share market saw an erratic movement on Wednesday amid lack of interest from buyers staying aloof because of the prevailing political uncertainty but late session pressure forced it to close easier. The LSE-25 index declined by 25.37 points closing at
Published 02 Aug, 2007 12:00am
The world's most competitive economy

The world's most competitive economy

Switzerland has become a very attractive location for foreign Multi-National Companies (MNCs) international operations and Swiss companies are gaining international recognition and are very active. Today, there are more than 10,000 foreign and Swiss MNCs
Published 02 Aug, 2007 12:00am
NIC condition: EC to move summary to President

NIC condition: EC to move summary to President

The Election Commission (EC) would move a summary to the President General Pervez Musharraf seeking his nod to do away with the condition of National Identity Card (NIC) for casting vote. The decision to move a summary was taken here on Wednesday followin
Published 02 Aug, 2007 12:00am
Swiss diplomacy and international relations

Swiss diplomacy and international relations

Switzerland has strong political and economic ties with the rest of the world and is member of various international organisations. In 1960, Switzerland was a founding member of the European Free Trade Association (EFTA); in 1963, it joined the European C
Published 02 Aug, 2007 12:00am
IRI survey: Benazir emerges as greatest beneficiary

IRI survey: Benazir emerges as greatest beneficiary

As many as 32 percent of the voters picked Benazir Bhutto as the best leader to handle the problems facing Pakistan, according to the Washington-based International Republican Institute (IRI) survey available here on Wednesday.
Published 02 Aug, 2007 12:00am
Switzerland's political landscape

Switzerland's political landscape

Switzerland is a federal state with three political levels: government, cantons (20 full and 6 half-cantons), communes (approximately 2,900). The cantons and the communes have wide-ranging autonomy and are able to take many political decisions.
Published 02 Aug, 2007 12:00am
BRIndex30 sheds 77.75 points

BRIndex30 sheds 77.75 points

On Wednesday, BRIndex30 opened at 14,852.15. It closed at 14,775.27, registering a negative change of -77.75 points and percentage change of -0.52. It experienced intra-day high of 14,924.34 and intra-day low of 14,754.84. The volume amounted to 160,564,8
Published 02 Aug, 2007 12:00am