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Print - 2007-11-14
New York cotton firm as switch trade featured

New York cotton firm as switch trade featured

Cotton futures closed higher Tuesday on modest buying by small speculators and switch trade as investors moved positions out of the spot contract before going into deliveries next week, brokers said. ICE Futures open-outcry December cotton rose 0.02 cent
Published 14 Nov, 2007 12:00am
Copper ends down 1.6 percent

Copper ends down 1.6 percent

Copper ended down 1.6 percent on Tuesday after failing to hold $7,000 per tonne and in anticipation of further stock inflows on the back of easing demand from China, traders and analysts said.
Published 14 Nov, 2007 12:00am
Gold bounces above $800 after sharp decline

Gold bounces above $800 after sharp decline

Gold bounced back to trade above $800 on Tuesday after hitting a one-week low in Asian trade, as bargain-hunters resurfaced and a weaker dollar helped the metal.
Published 14 Nov, 2007 12:00am
US MIDDAY: cocoa and coffee rises

US MIDDAY: cocoa and coffee rises

US cocoa futures were slightly higher in early trade on Tuesday and Arabica coffee rose on technical dealings, traders said. Cocoa was a shade stronger in quiet trading on contract rollover and a stronger dollar, traders said.
Published 14 Nov, 2007 12:00am
US MIDDAY: sugar down

US MIDDAY: sugar down

Raw sugar futures sagged in early dealings on Tuesday after an early bout of fund buying stalled and the market was hit by speculative pressure, brokers said. ICE Futures electronic March sugar contract was down 0.04 cent at 9.92 cents per lb at 9:22 am E
Published 14 Nov, 2007 12:00am
US MIDDAY: wheat sags

US MIDDAY: wheat sags

Wheat futures on the Chicago Board of Trade were called to open 2 to 4 cents lower on Tuesday following a weaker trend in overnight trade and a lack of supportive news, traders said.
Published 14 Nov, 2007 12:00am
US MIDDAY: corn higher

US MIDDAY: corn higher

Corn futures at the Chicago Board of Trade were expected to open 2 to 3 cents per bushel higher on Tuesday in a technical recovery from Monday's sharp losses and spillover support from soyabeans, traders said.
Published 14 Nov, 2007 12:00am
US MIDDAY: soyabeans up

US MIDDAY: soyabeans up

Soyabean futures at the Chicago Board of Trade were called to open 10 to 12 cents per bushel higher on Tuesday on technical strength and continued Chinese demand for US soya, traders said. Soya products were also called higher, with CBOT soyameal futures
Published 14 Nov, 2007 12:00am
US MIDDAY: copper slips

US MIDDAY: copper slips

US copper futures surrendered morning gains on Tuesday, as lingering concerns about slowing economic growth and its effect on demand continued to keep the metal's upside in check, brokers and analysts said.
Published 14 Nov, 2007 12:00am
US MIDDAY: gold falls

US MIDDAY: gold falls

US gold futures trimmed early losses on Tuesday to turn higher on short covering and strong dealer buying as the dollar lost ground, only to be hit again when some players exited at higher levels, traders said.
Published 14 Nov, 2007 12:00am
Pakistan invited to Chandigrah trade fair

Pakistan invited to Chandigrah trade fair

Punjab, Haryana and Delhi Chamber of Commerce and Industry (PHDCCI) has invited Pakistani business community to participate in five-day PHDCCI international trade expo (ITEX). The trade fair is being organised by PHDCCI, in collaboration with the Indian P
Published 14 Nov, 2007 12:00am
Utility Stores

Utility Stores

While listening to a news on PTV the other day, I heard President General Pervez Musharraf saying that he has asked Prime Minister Shaukat Aziz to ensure that prices of all items at the Utility Stores throughout the country are reasonably reduced forthwit
Published 14 Nov, 2007 12:00am
Hoarders and profiteers

Hoarders and profiteers

It is heartening to note that a presidential ordinance is on the anvil targeting the boarders and profiteers to rid the people at large regarding soaring prices of essential articles.
Published 14 Nov, 2007 12:00am
Enormous progress lies ahead in IT sector

Enormous progress lies ahead in IT sector

It is heartening to observe that a number of recent articles in certain foreign publications have made an encouraging note of Pakistan's nascent IT industry showing tremendous progress - despite certain challenges - the foremost among them being the worry
Published 14 Nov, 2007 12:00am
Good Morning: seasons change, political weather warms up

Good Morning: seasons change, political weather warms up

Let there be no doubt that the weather is changing - and in more ways than one. Whether we like it or not, the seasons are changing and the year 2007 is gradually (and I hope gracefully) moving towards the finale. Even though nostalgia is evoked by season
Published 14 Nov, 2007 12:00am
Privatisation of Pakistan Machine Tool Factory

Privatisation of Pakistan Machine Tool Factory

The Government of Pakistan has invited, by December 10, 2007, the Expression of Interest (EOIs), from prospective investors for the sale of maximum shares, alongwith management control, of Pakistan Machine Tool Factory (Pvt) Ltd, (PMTF) Karachi.
Published 14 Nov, 2007 12:00am
White flag over Swat

White flag over Swat

Over the last week as the government was seized of political developments, the mountainous valley of Swat seemed to have passed under the suzerainty of rebel cleric Maulana Fazlullah. By Thursday, his Taliban militants had captured, up in the north, the p
Published 14 Nov, 2007 12:00am
Electronically filed tax returns

Electronically filed tax returns

While E-filing of tax returns by large business houses and corporate entities has indeed made it relatively easier, and quicker, to file returns, the new system has also generated the problem of widespread non-compliance with the laid-down procedural para
Published 14 Nov, 2007 12:00am
Training course on labour marketing held

Training course on labour marketing held

Pakistan Manpower Institute (PMI) has organised a training course on "Labour marketing information and employment" here on Tuesday. The main objective of the training course was to upgrade skills of the participants and expose them to latest tools and tec
Published 14 Nov, 2007 12:00am
USAID delivers IT equipment to NWFP Assembly

USAID delivers IT equipment to NWFP Assembly

Representatives of the United States Agency for International Development (USAID) handed over critical information technology equipment to the Secretary of the Provincial Assembly on Tuesday. Hassan Baroudy, Acting Director of the USAID-Pakistan Office of
Published 14 Nov, 2007 12:00am
New dredger inducted in KPT fleet

New dredger inducted in KPT fleet

A new state-of-the-art 'Trailer Suction Hopper Dredger' (TSHD) joined the fleet of Karachi Port Trust (KPT) on Tuesday, and has been named 'Abul'. The dredger, procured by the KPT at a cost of 50.73 million euros from Netherlands. The journey from Netherl
Published 14 Nov, 2007 12:00am
Workshop on e-library concludes

Workshop on e-library concludes

The One-day workshop on importance of e-Library was organised by Mehran University of engineering and Technology (Muet), Jamshoro in collaboration with Higher Education Commission (HEC) on Tuesday. The workshop highlighted the need of creating awareness o
Published 14 Nov, 2007 12:00am
Tariq Ikram to inaugurate Pakistani stall at India trade fair

Tariq Ikram to inaugurate Pakistani stall at India trade fair

Tariq Ikram, Minister of State and Chief Executive of Trade Development Authority of Pakistan will inaugurate Pakistani stall at India International Trade Fair, 2007 here on Wednesday. The industrial fair, which is being participated by 64 exhibitors will
Published 14 Nov, 2007 12:00am
Community-oriented medical education urged

Community-oriented medical education urged

President College of Physicians and Surgeons of Pakistan Professor Zafarullah Chaudhry here on Tuesday appreciated the trend to develop community-oriented medical syllabus in the country. He was addressing a new batch of students of medicine, dentistry, p
Published 14 Nov, 2007 12:00am
Nadra surgery responsive in London

Nadra surgery responsive in London

A National Database and Registration Authority (Nadra) surgery organised by the Pakistan High Commission in the north London district of Hemel Hempstead attracted a large number of people who were issued various Nadra forms. The five-hour surgery was held
Published 14 Nov, 2007 12:00am
Bin Qasim power station: strategy to raise power generation devised

Bin Qasim power station: strategy to raise power generation devised

Following the termination of operation and management (O&M) agreement with Siemens, the Karachi Electric Supply Corporation (KESC) has devised a new strategy to enhance the power generation capacity of its Bin Qasim power station from 1000 MW to 1200 MW.
Published 14 Nov, 2007 12:00am
FBR clarification

FBR clarification

E-filing of income tax returns by the corporate sector was made mandatory through the Finance Act 2007 in order to promote voluntary compliance. Accordingly, in line with the vision of the chairman FBR, a well-focused strategy was adopted to facilitate vo
Published 14 Nov, 2007 12:00am
Skyrocketing cotton prices: 150 hosiery units stop production

Skyrocketing cotton prices: 150 hosiery units stop production

The skyrocketing prices of cotton yarn have brought the productions in some 150 industrial units of the hosiery sector to a complete standstill, causing million of rupees losses everyday, hosiery manufacturers said on Tuesday.
Published 14 Nov, 2007 12:00am
Two SHCBA former presidents held

Two SHCBA former presidents held

Senior advocate and former President of Sindh High Court Bar Association Abdul Hafeez Lakho was arrested on Tuesday afternoon at the gate of high court building. The police arrested Lakho soon as he left the main building of SHC after addressing the gener
Published 14 Nov, 2007 12:00am
Italy to help improve quality of textile products

Italy to help improve quality of textile products

Italy will provide technical and marketing assistance to Pakistan for enhancing quality and standard of its value-added textile products. This was said by Italian Trade Commissioner Dr Marco Pintus at a meeting with the members of the Pakistan Hosiery Man
Published 14 Nov, 2007 12:00am
Saarc yet to come of age!

Saarc yet to come of age!

Despite being 22 years old South Asian Association for Regional Cooperation (Saarc) has yet to come of age and take the members countries out of the hopelessness that its failure to achieve its objectives has brought to them.
Published 14 Nov, 2007 12:00am
Ibad reviews law and order situation

Ibad reviews law and order situation

The obtaining situation in the Province was reviewed at a meeting held under the chairmanship of Sindh Governor, Dr Ishrat-ul-Ibad Khan at Governor House here on Tuesday. It was decided on the occasion that all possible steps would be ensured for normal d
Published 14 Nov, 2007 12:00am
NCSS' IDS facility: KSE advice to NBCM

NCSS' IDS facility: KSE advice to NBCM

Karachi Stock Exchange (KSE) has advised all non-broker clearing members (NBCM) to complete the required formalities to avail of the facility of IDS functionality of the National Clearing and Settlement System (NCSS) after the implementation of Financial
Published 14 Nov, 2007 12:00am
GCU gets accelerator

GCU gets accelerator

The GC University in Lahore has received a 2MV Pelletron Accelerator, which is in the process of installation at its centre for advanced studies in Physics being supervised by foreign and GCU experts. The accelerator has been purchased from USA by the fun
Published 14 Nov, 2007 12:00am
Labour Party slams arrest of political parties' workers

Labour Party slams arrest of political parties' workers

Labour Party leaders Farooq Tariq Mueen Nawaz, Nazly Jawaid and Muhammad Afzal Saroya have condemned the ruler's aggression against various political parties and the illegal arrest of workers throughout the country.
Published 14 Nov, 2007 12:00am
20 Indian movies to be screened in Pakistan

20 Indian movies to be screened in Pakistan

Around 20 Bollywood movies are set to hit the screens in Pakistani cinemas in the coming days, Indian media reported on Tuesday. 'Awarapan' was the first bollywood film to have a premire in Pakistan in June this year.
Published 14 Nov, 2007 12:00am
Wapda employees served dismissal notices

Wapda employees served dismissal notices

16 Wapda employees including Junior Engineer/SDO serving in various wings have been served final show cause notices for dismissal from service, under the removal from service ordinance, on the charges of misconduct and wilful absence from duty.
Published 14 Nov, 2007 12:00am
Right activists present bouquet to deposed PHC's Chief Justice

Right activists present bouquet to deposed PHC's Chief Justice

A delegation of Women Action Forum (WAF) met the deposed Chief Justice Peshawar High Court (PHC), Justice Tariq Pervez at his residence on Monday to pay tributes and express solidarity with him and all those judges of the superior courts who refused oath
Published 14 Nov, 2007 12:00am
Environment Ministry to launch new website

Environment Ministry to launch new website

The Ministry of Environment has decided to launch a new website on the complaints of stakeholders searching data for research and other purposes, sources told Business Recorder on Tuesday. "The new website is being designed and hopefully would be l
Published 14 Nov, 2007 12:00am
NWFP to reform land revenue system

NWFP to reform land revenue system

The government of NWFP on Tuesday constituted a committee to identify long and short-term measures for improvement in the land revenue system in the province. NWFP Caretaker Chief Minister Shams-ul-Mulk stated this while addressing the participants of a p
Published 14 Nov, 2007 12:00am
Soomro condoles

Soomro condoles

Senate Chairman Mohammedmian Soomro has condoled the death of the wife of Pir Elahi Bakhsh. Pir Bakhsh is a leading figure of the Pakistan Movement, and remained provincial minister in the cabinet of Sir Ghulam Hidayetullah, and a former Chief Minister of
Published 14 Nov, 2007 12:00am
Harmful chemicals being sold freely

Harmful chemicals being sold freely

Harmful chemicals such as toluene, potassium permanganate and methyl ethyl ketene were freely obtainable in the market and yet the narcotics control has done nothing to stop their open sale or maintain check on importers of these chemicals which go in the
Published 14 Nov, 2007 12:00am
Economic uplift: 'Public-Private partnership proves successful'

Economic uplift: 'Public-Private partnership proves successful'

The concept of Public-Private Partnership in Pakistan (PPP) has proved successful in developing the economy and we have to take further measures for strengthening this system, said Kokio Tamaki, Representative of the Japan External Trade Organisation (Jet
Published 14 Nov, 2007 12:00am
Election Commission meeting today

Election Commission meeting today

In order to discuss all election-related matters, the Chief Election Commissioner (CEC) has convened a meeting here on Wednesday. Election Commission Secretary Dilshad said that necessary arrangements in this regard have already been finalised, which will
Published 14 Nov, 2007 12:00am
'House arrest to protect Benazir'

'House arrest to protect Benazir'

Interior Ministry spokesman Javed Iqbal Cheema on Tuesday said that there is real threat to the life of former prime minister Benazir Bhutto for which the government has kept her under house arrest for another seven days.
Published 14 Nov, 2007 12:00am
NDMA and UNDP organise training course

NDMA and UNDP organise training course

The National Disaster Management Authority (NDMA) and the United Nations Development Programme (UNDP) jointly organised a 10-day training course on "disaster risk management" ending on November 22.
Published 14 Nov, 2007 12:00am
Restoration of magistracy system in Railways urged

Restoration of magistracy system in Railways urged

National Assembly Standing Committee on Railways Tuesday strongly recommended that magistracy system should be reintroduced in the Railways to remove impediments in dealing with land encroachers.
Published 14 Nov, 2007 12:00am
Haj flights begin

Haj flights begin

The pre-Haj operation to air lift the Haj pilgrims to Saudi Arabia begins with the departure of first Haj flight from Peshawar on Tuesday. The first Haj flight from Islamabad will leave on Wednesday (today) afternoon for the Holy Land. From Quetta the fir
Published 14 Nov, 2007 12:00am
Inauguration

Inauguration

Federal Minister for Railways Sheikh Rashid Ahmed will inaugurate on Wednesday a multi-purpose passenger hall at the Lahore Railway Station. The operations general manager will also be present.
Published 14 Nov, 2007 12:00am
Hashmi urges political parties to shed differences

Hashmi urges political parties to shed differences

Makhdoom Javed Hashmi, acting Chief of Pakistan Muslim League-N has called upon all the political parties to shed their differences and forge unity on one point agenda of getting rid of General Pervez Musharraf who infringed upon the basic human rights.
Published 14 Nov, 2007 12:00am
Bhasha Dam design by 2008

Bhasha Dam design by 2008

The Design of Diamer-Bhasha Dam will be completed by end of March 2008 as the Consultant firms and engineers are working round the clock to get the job done within the timeframe. This was stated by the Diamer-Bhasha Dam Project Deputy Director Abdul Ghaff
Published 14 Nov, 2007 12:00am
Police resort to lathi charge to disperse lawyers rally

Police resort to lathi charge to disperse lawyers rally

Lawyers and civil society members were rallying in Industrial City against emergency rule on Tuesday, when Chief Minister Punjab reached Faisalabad for one day visit. Dozens activists from the lawyers and Civil Society members shouted slogans against the
Published 14 Nov, 2007 12:00am
Lawyers vow to continue boycott of 'PCO judges'

Lawyers vow to continue boycott of 'PCO judges'

The Lahore High Court (LHC), Multan Bench, remained open on Tuesday for litigants but a negligible numbers of cases could be taken up for adjudication, owing to lawyers continued boycott of the judges, who took oath under the Provisional Constitutional Or
Published 14 Nov, 2007 12:00am
Army Amendments Act for setting up military courts condemned

Army Amendments Act for setting up military courts condemned

Vice Chairman of Pakistan Bar Council, Mirza Aziz Akbar Baig, on Tuesday, condemned amendments to Pakistan Army Act regarding the establishment of military courts for trying civilians and demanded immediate withdrawal of such undemocratic and unconstituti
Published 14 Nov, 2007 12:00am
Training workshop for human right activists held

Training workshop for human right activists held

A three-day training workshop for human rights activists was held here which was organised by National Commission for Justice and Peace (NCJP) at Centre for Peace and Harmony in Faisalabad. The purpose of the workshop was to provide necessary skills to ri
Published 14 Nov, 2007 12:00am
The Weather

The Weather

The weather report on Tuesday (November 13, 2007) and the forecast for Wednesday (November 14, 2007).
Published 14 Nov, 2007 12:00am
Ghee prices increase further in Multan

Ghee prices increase further in Multan

The prices of edible oil, both imported and local, have further gone up in the wholesale and retail markets of Multan, touching all-time high levels. The price rise came in the face of high rates in the international edible oils market and absence of any
Published 14 Nov, 2007 12:00am
New York cotton

New York cotton

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

Published 14 Nov, 2007 12:00am
Trend setting books published by PLA: Dr Jalibi

Trend setting books published by PLA: Dr Jalibi

Pakistan Academy of Letters (PLA) has published trend setting books in the series titled Memar-i-Adab, eminent scholar Dr Jameel Jalibi said during a visit to the Pakistan Academy of Letters here on Tuesday.
Published 14 Nov, 2007 12:00am
New York cotton

New York cotton

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

Published 14 Nov, 2007 12:00am
NACP launches month-long campaign

NACP launches month-long campaign

National AIDS Control Program (NACP) is launching a month-long campaign to commemorate World AIDS Day on December 1, on Wednesday at 11:00am in a media conference. The conference will be chaired by Major General Shaihda Malik (Retd), Director General Heal
Published 14 Nov, 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 14 Nov, 2007 12:00am
Opposition to anti-polio drive weakens: health experts

Opposition to anti-polio drive weakens: health experts

Local opposition to polio eradication efforts in western Pakistan is declining, health experts claimed. ``The refusal rate has decreased. The coverage has improved,' Waheed Khan, a government co-ordinator for the anti-polio drive in NWFP was quoted as say
Published 14 Nov, 2007 12:00am
Mahmood Alam made new member customs

Mahmood Alam made new member customs

The Federal Board of Revenue (FBR) has appointed Mahmood Alam as new member customs and Shahid Rahim Sheikh has been transferred as Chief Customs, North, Lahore. In this connection, a notification has been issued here on Tuesday.
Published 14 Nov, 2007 12:00am
TUSDEC, PMTF to promote making of machine tools

TUSDEC, PMTF to promote making of machine tools

Technology Upgradation and Skill Development Company (TUSDEC) and Pakistan Machine Tool Factory (PMTF) will join hands to promote local manufacturing of machinery, especially the machine tools.
Published 14 Nov, 2007 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (November 13, 2007).
Published 14 Nov, 2007 12:00am
Lawyers observe Black Day

Lawyers observe Black Day

The Lawyers' community observed a black day here on Tuesday, refusing to appear in courts. Most members of the Lahore High Court Bar Association remained away from the bar premises and never visited the bar rooms with police staying around for the last se
Published 14 Nov, 2007 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Tuesday (November 13, 2007) and for Wednesday (November 14, 2007).
Published 14 Nov, 2007 12:00am
French Consul General stages three opera events

French Consul General stages three opera events

Last week, French Consul General, Pierre Seillan organised three opera events at the Karachi Arts Council auditorium to raise funds for Al-Mehrab Tibbi Imdad's (AMTI) cancer hospice for poor ill patients.
Published 14 Nov, 2007 12:00am
NIT Unit Prices

NIT Unit Prices

The sale and repurchase prices of NIT (Unit) on Tuesday (November 13, 2007).
Published 14 Nov, 2007 12:00am
NIT Unit Prices

NIT Unit Prices

The sale and repurchase prices of NIT (Unit) on Tuesday (November 13, 2007).
Published 14 Nov, 2007 12:00am
NIT Unit Prices

NIT Unit Prices

The sale and repurchase prices of NIT (Unit) on Tuesday (November 13, 2007).
Published 14 Nov, 2007 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (November 13, 2007).
Published 14 Nov, 2007 12:00am
Wheat supply to four flourmills restored

Wheat supply to four flourmills restored

The Punjab Food Department restored the wheat supply to four flourmills on Tuesday but suspended the quota of six other mills in Jhang, Toba Tek Singh and Faisalabad because they showed less grinding and short supply to market.
Published 14 Nov, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (November 13, 2007).
Published 14 Nov, 2007 12:00am
Reception on National Day of Oman on November 20

Reception on National Day of Oman on November 20

The Consul General of the Sultanate of Oman in Karachi H.E. Khamis bin Mohammed Bin Abdullah Al-Farsi will hold in Karachi a reception at a local hotel marking the 37th National Day of the Sultanate of Oman on Tuesday, November 20, 2007.
Published 14 Nov, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (November 13, 2007).
Published 14 Nov, 2007 12:00am
Two scientists receive Saarc awards

Two scientists receive Saarc awards

Dr Ghulam Rasul and Faisal Saeed of Pakistan Meteorological Department have received the senior and young scientist awards of Saarc for the year 2006 as per unanimous assessment of all the member states, says a Press Release.
Published 14 Nov, 2007 12:00am
Two more LHC judges take oath

Two more LHC judges take oath

The Lahore High Court (LHC) chief justice administered oath to two more judges, Justices Mian Muhammad Najam-uz-Zaman and Maulvi Anwar-ul-Haq, under the Provisional Constitutional Order (PCO) in a ceremony, taking the number now to 20.
Published 14 Nov, 2007 12:00am
THE RUPEE: dollar higher

THE RUPEE: dollar higher

Declining trend was seen in the open market on Tuesday as the rupee shed five paisa against dollar for buying and selling at 61.00 and 61.10 in process of trading, dealers said. The rupee, however gained sharply in relation to euro for buying and selling
Published 14 Nov, 2007 12:00am
Attorney General dispels fears over amendment to Army Act

Attorney General dispels fears over amendment to Army Act

Attorney-General Malik Mohammad Qayyum on Tuesday dispelled apprehensions and doubts about the purpose behind the amendments made in the Army Act 1952, saying that a wrong impression was being created that henceforth military courts can try any civilian.
Published 14 Nov, 2007 12:00am
THE RUPEE: dollar higher

THE RUPEE: dollar higher

Declining trend was seen in the open market on Tuesday as the rupee shed five paisa against dollar for buying and selling at 61.00 and 61.10 in process of trading, dealers said. The rupee, however gained sharply in relation to euro for buying and selling
Published 14 Nov, 2007 12:00am