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Print - 2007-12-11
Copper slips

Copper slips

Copper slipped on Monday as investors fretted over weaker demand for metals and the market remained wary of making big bets ahead a key US rate decision.
Published 11 Dec, 2007 12:00am
Oil falls on US warmth, economic worry

Oil falls on US warmth, economic worry

Oil prices dropped below $88 a barrel on Monday on forecasts that warm weather in the United States would slash demand for heating fuels, adding to a weak outlook for the nation's energy use amid an economic slowdown.
Published 11 Dec, 2007 12:00am
London cocoa, sugar and coffee climb

London cocoa, sugar and coffee climb

London cocoa futures touched fresh 4-1/2-month peaks on Monday, powered by a surge in US futures on worries over a strike in top grower Ivory Coast, while coffee also settled higher driven by US futures.
Published 11 Dec, 2007 12:00am
Gold regains strength

Gold regains strength

Gold jumped 2 percent on Monday as buying picked up on a weaker dollar ahead of an expected cut in US interest rates and a rise in oil prices. Spot gold rose as high as $812.20 an ounce, the highest since November 28, and was quoted at $808.90/809.60 by 1
Published 11 Dec, 2007 12:00am
Meezan Bank arranges Rs 2.5 billion Sukuk financing for Eden Builders

Meezan Bank arranges Rs 2.5 billion Sukuk financing for Eden Builders

Meezan Bank Limited and Eden Builders (Private) Limited signed a Rs 2.5 billion Islamic financing facility mandate in a ceremony held in Lahore. Mohammad Arshad, Chief Executive of Eden Builders, and Najmul Hassan, General Manager, Corporate & Business De
Published 11 Dec, 2007 12:00am
Meezan Bank arranges Rs 2.5 billion Sukuk financing for Eden Builders

Meezan Bank arranges Rs 2.5 billion Sukuk financing for Eden Builders

Meezan Bank Limited and Eden Builders (Private) Limited signed a Rs 2.5 billion Islamic financing facility mandate in a ceremony held in Lahore. Mohammad Arshad, Chief Executive of Eden Builders, and Najmul Hassan, General Manager, Corporate & Business De
Published 11 Dec, 2007 12:00am
Atlas Bank, DEG complete equity participation

Atlas Bank, DEG complete equity participation

Atlas Bank Limited on Saturday announced the successful completion of its equity arrangement with Deutsche Investitions of Germany (DEG), says a press release. It said that as part of the agreement, DEG, a member of the world renowned Germany's KfW Banken
Published 11 Dec, 2007 12:00am
Season of returns and deals

Season of returns and deals

Some people think and believe that the season of returns and deals started with the return of Benazir Bhutto but my calculation is that it actually started on 20th July when Mr Iftikhar Chaudhry the then Inactive Chief Justice was restored by orders of a
Published 11 Dec, 2007 12:00am
Why betray the electorate?

Why betray the electorate?

General elections are fast approaching as the time keeps ticking past pretty fast. Apparently, there is no possibility of polls scheduled to be held on January 8 postponed and rescheduled as such. So, there is very little left for the political and religi
Published 11 Dec, 2007 12:00am
Berlin set to build Europe's biggest giant wheel

Berlin set to build Europe's biggest giant wheel

Berlin's new giant wheel is to be Europe's biggest, and the German capital's most spectacular skyline attraction, when it begins revolving at the end of 2009. The Berlin project is the brainchild of a company appropriately called the Great Wheel Corporati
Published 11 Dec, 2007 12:00am
Islamic finance: growth, competitiveness and sustainability

Islamic finance: growth, competitiveness and sustainability

Islamic finance has received overwhelming response from across the world as one discovers its ideological and practical richness and relevance. Growth in Islamic finance industry has however triggered a number of debates regarding the challenges this indu
Published 11 Dec, 2007 12:00am
Moving fast

Moving fast

It is not nice but true that in the world's sixth most populous country, Pakistan, which also happens to be the most urbanised nation in the whole of South Asia, there is a woeful lack of rapid mass transit facilities, its capital Islamabad and the twin c
Published 11 Dec, 2007 12:00am
Greasing palms and fixing wheels

Greasing palms and fixing wheels

If the PML (Q)-led political coalition is going to run its election campaign on the basis of its performance as government for five years, it may like to rethink its strategy. This performance may appear to be very good with impressive economic indicators
Published 11 Dec, 2007 12:00am
Government urged to announce wheat support price

Government urged to announce wheat support price

Kisan Board Pakistan President Sardar Zafar Hussein Khan has urged the government to announce the wheat support price at Rs 800 per maund and provide flour to the urban population on subsidised rates. In a statement issued here on Monday, Khan regretted t
Published 11 Dec, 2007 12:00am
Feudal class again dominates Sindh politics

Feudal class again dominates Sindh politics

Political scene was once again dominated by landed aristrocacy as all the mainstream political parties - Pakistan Peoples Party (PPP), Pakistan Muslim League-Nawaz (PML-N), PML-Q as well as the Sindh-based PML-F have awarded party tickets predominantly to
Published 11 Dec, 2007 12:00am
ADB considering to provide $225 million to Punjab government

ADB considering to provide $225 million to Punjab government

Asian Development Bank (ADB) is considering a proposal to provide $225 million for "Effective Implementation of Punjab Government Efficiency Improvement Programme" to improve allocation of public resources by introducing greater performance-orientation in
Published 11 Dec, 2007 12:00am
TMOs asked to make special Eid arrangements

TMOs asked to make special Eid arrangements

Caretaker Sindh Minister for Local Government, Katchi Abadies and Spatial Development, Syed Saleem Ahmed Zaidi, has directed all the 18 towns of Karachi to chalk out a viable strategy for lifting and disposing of offal from their respective jurisdictions
Published 11 Dec, 2007 12:00am
Anti-polio drive from today

Anti-polio drive from today

A total of 2.97 million children of under five years age would be vaccinated against polio during three days long anti-polio campaign being launched in all four Talukas of Hyderabad district from Tuesday.
Published 11 Dec, 2007 12:00am
SBC body demands reinstatement of deposed judges

SBC body demands reinstatement of deposed judges

The human rights committee of Sindh Bar Council (SBC) on Monday observed International Human Rights Day demanded early reinstatement of all deposed judges of superior courts. Their demand came during a seminar that they organised to mark the day in Karach
Published 11 Dec, 2007 12:00am
Nine special trains to be run on Eid

Nine special trains to be run on Eid

Pakistan Railways administration has announced to run nine special trains on the occasion of Eid-ul-Azha for the convenience of people travelling to other cities to celebrate the religious festival with their families.
Published 11 Dec, 2007 12:00am
Sindh cabinet meets today

Sindh cabinet meets today

Caretaker Chief Minister of Sindh, former justice Abdul Qadir Halepota, will preside over a cabinet meeting on December 11. An official statement issued here on Monday said that the Sindh cabinet meeting will be held at the cabinet room of the New Sindh S
Published 11 Dec, 2007 12:00am
'All About Lifestyles' exhibition from December 28

'All About Lifestyles' exhibition from December 28

The 'All About Lifestyles 2007' exhibition will be held from December 28, 2007 at the TDAP, Karachi Expo Center from 3pm till 10pm. The entry to the exhibition is free.
Published 11 Dec, 2007 12:00am
890kg of hashish recovered

890kg of hashish recovered

The officials of Pakistan Coast Guards (PCG) seized 890 kg of hashish and arrested an alleged drug trafficker along with a vehicle at Uthal Check Post on RCD Highway in Balochistan. This announcement to this effect was made in a PCG statement issued here
Published 11 Dec, 2007 12:00am
624 polling stations for NA Badin seats

624 polling stations for NA Badin seats

Election Commission of Pakistan will set up 624 polling stations for two National Assembly seats in district Badin. According to sources, 341 polling stations will be set up for NA-224 and 383 for NA-225 while 1,192 polling booths would be established in
Published 11 Dec, 2007 12:00am
Karachiites to face load shedding as another Bin Qasim unit closes

Karachiites to face load shedding as another Bin Qasim unit closes

The Karachiites would also suffer from load shedding in the winter season, as the Karachi Electric Supply Corporation (KESC) has closed down its another power generating unit at Bin Qasim Power Station (BQPS) for next 30 days without arranging any alterna
Published 11 Dec, 2007 12:00am
Gas pipeline blown up

Gas pipeline blown up

Some unidentified miscreants blew up a gas pipeline by planting explosive device near Mian Ghundi, some 45km off the Quetta on Monday afternoon. According to Sui Southern Gas Company (SSGC) sources, the blast has affected gas supply to the parts of Mastun
Published 11 Dec, 2007 12:00am
Halepota orders action against atta hoarders

Halepota orders action against atta hoarders

The Sindh Chief Minister, former Justice Abdul Qadir Halepota has said that stern action would be taken against elements responsible for creating artificial shortage of atta in the province. He said while meetings the prominent personalities at the Chief
Published 11 Dec, 2007 12:00am
Real per capita income: India behind Sri Lanka and Pakistan

Real per capita income: India behind Sri Lanka and Pakistan

Brunei, Singapore, Hong Kong, China rank among the top five economies in developing Asia and the Pacific in terms of real per capita income, says a new study undertaken on purchasing power parities in the region.
Published 11 Dec, 2007 12:00am
Pearl Continental to launch Hotel One

Pearl Continental to launch Hotel One

Hashoo Group Chief Executive Officer Murtaza Hashwani has announced that the Pearl Continental will launch the Hotel One, a budget accommodation, planning to establish 20 new hotels in six locations, beginning operations in the coming three months in Laho
Published 11 Dec, 2007 12:00am
PKM accuses Sindh sugar mills of fleecing poor farmers

PKM accuses Sindh sugar mills of fleecing poor farmers

Pakistan Kissan Movement (PKM) Secretary General Hanif Gujjar has claimed that the sugar industry in Sindh is fleecing poor farmers by arbitrarily reducing the sugarcane prices from Rs 67 per 40-kg to Rs 60 and now have reduced the prices to Rs 55 per 40-
Published 11 Dec, 2007 12:00am
Irrigation department announces canal closure schedule

Irrigation department announces canal closure schedule

The Punjab Irrigation and Power Department has issued an annual schedule of canal closure across the province for 2007-8. The Lower Jhelum and the Rasool Qadirabad Link Canals will close betweeen December 20 and January 12, the Qadirabad Balloki Link Cana
Published 11 Dec, 2007 12:00am
The Weather

The Weather

The weather report on Monday (December 10, 2007) and the forecast for Tuesday (December 11, 2007).
Published 11 Dec, 2007 12:00am
'Multiple Sclerosis' is curable

'Multiple Sclerosis' is curable

'Multiple Sclerosis', the most common disease of the central nervous system, is curable now as a German drug company has introduced a biogenetic medicine for this purpose, which is also available in Pakistan.
Published 11 Dec, 2007 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (December 10, 2007).

Published 11 Dec, 2007 12:00am
Seven new cotton varieties to be placed for approval

Seven new cotton varieties to be placed for approval

Seven new cotton varieties (including two hybrid varieties) will shortly be placed for approval for cultivation, which have quality traits and effective tolerance against cotton leaf curl virus, Punjab Minister for Agriculture Khurshid Zaman Qureshi told
Published 11 Dec, 2007 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (December 10, 2007).

Published 11 Dec, 2007 12:00am
Submarine 'Hangor' put on display

Submarine 'Hangor' put on display

Pakistan Navy submarine "Hangor", which in a gallantry act during 1971 Indo-Pak war sank the balckwood class Indian Navy ship 'Kukri' near Indian coast on the night of December 9, 1971, has been placed at Pakistan Maritime Museum for general public, says
Published 11 Dec, 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 11 Dec, 2007 12:00am
Pakistan as observer to attend IGC Traceca meeting in Astana

Pakistan as observer to attend IGC Traceca meeting in Astana

Pakistan is taking part as observer in the two-day sixth annual meeting of Inter-Governmental Commission (IGC) pertaining to Transport Corridor for Europe-Caucasus-Asia (Traceca) will be started from Wednesday (tomorrow) in Astana, Kazakhstan.
Published 11 Dec, 2007 12:00am
Value of 23 imported hardware products revised

Value of 23 imported hardware products revised

The Directorate General of Customs Valuation, Karachi has revised customs value of 23 hardware products imported from China, Taiwan and Thailand for accurate determination of customs duty.
Published 11 Dec, 2007 12:00am
ANF to set up model drugs addiction, treatment centres

ANF to set up model drugs addiction, treatment centres

The Narcotics Control Ministry and Anti-Narcotics Force (ANF) has prepared PC-I for establishing Model Drugs Addiction and Treatment Centres in the country. Sources told Business Recorder here on Monday that these centres will be established in Kar
Published 11 Dec, 2007 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (December 10, 2007).

Published 11 Dec, 2007 12:00am
Government decision to import cotton depresses market

Government decision to import cotton depresses market

The announcement by the government to import cotton through Wagha border has depressed the local cotton market and seed-cotton (phutti) prices have gone down to Rs 1350-1450 per 40 kg, sources told Business Recorder here on Monday.
Published 11 Dec, 2007 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Monday (December 10, 2007) and for Tuesday (December 11, 2007).
Published 11 Dec, 2007 12:00am
More funds for NWFP population department assured

More funds for NWFP population department assured

The Federal Caretaker Minister for Population Welfare, A.J.Khan on Monday while praising efforts of the NWFP Population Welfare Department promised more funds so that the department could play its role in a better way. A.J.Khan held out this assurance dur
Published 11 Dec, 2007 12:00am
Peace Jirga member shot dead

Peace Jirga member shot dead

A member of the local peace Jirga, Malik Maula Jan Para Chimkani has been shot dead in Sada Lower Kurram whereas two people have received serious injuries in the incident. According to the details a group of miscreants opened firing on Malik Maula Jan Par
Published 11 Dec, 2007 12:00am
GCCI election to be held on December 28

GCCI election to be held on December 28

The elections of Gwadar Chamber of Commerce and Industry (GCCI) for the year 2008, will be held on December 28. A founder member of GCCI and candidate for the post of presidential of the GCCI Ashraf Iqbal Baloch told APP that this would be the fourth body
Published 11 Dec, 2007 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (December 10, 2007).

Published 11 Dec, 2007 12:00am
'Gurgury gas field to be operational soon'

'Gurgury gas field to be operational soon'

The General Manager of Sui Northern Gas Pipeline Ltd (SNGPL), Iqbal Hussain, said here on Monday that gas production from Gurgury field for four southern districts of NWFP was in the final stages as the required infrastructure and other formalities have b
Published 11 Dec, 2007 12:00am
Special marriage legislation for Sikh to be introduced

Special marriage legislation for Sikh to be introduced

For the first time a special marriage legislation for the Sikh community will be introduced in country soon, caretaker Minister for Law and Justice Afzal Haider said on Monday. Taking to reporters, the minister said this would meet a long-standing demand
Published 11 Dec, 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 (December 10, 2007).

Published 11 Dec, 2007 12:00am
Growers fail to achieve wheat sowing target

Growers fail to achieve wheat sowing target

Growers in Southern Punjab failed to achieve the target of wheat sowing due to non-availability of irrigation water, delay in sugarcane crushing and strike of PCGA and non-purchasing of cotton from them. Only 38 percent of total target area was brought un
Published 11 Dec, 2007 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Monday (December 10, 2007).

Published 11 Dec, 2007 12:00am
KCCI annual polls on December 29

KCCI annual polls on December 29

The annual election of 15 members of the managing committee and president of the Karachi Chamber of Commerce and Industries (KCCI) will be held on December 29 and election of Senior Vice President and Vice President will be held on December 31.
Published 11 Dec, 2007 12:00am
China assures Pakistan to cut trade imbalance: FPCCI

China assures Pakistan to cut trade imbalance: FPCCI

China has assured to make every effort to remove trade imbalance currently in its favour, said former President of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and Patron In-Chin of Pak-China Business Forum, Tariq Sayeed on Monday.
Published 11 Dec, 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 (December 10, 2007).

Published 11 Dec, 2007 12:00am
Politicians for maximum turnout of voters

Politicians for maximum turnout of voters

Women politicians pertaining to different political parties have called for a unanimous approach to help maximum turnout of eligible voters during the forthcoming polls.
Published 11 Dec, 2007 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Monday (December 10, 2007).

Published 11 Dec, 2007 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Monday (December 10, 2007).

Published 11 Dec, 2007 12:00am
FHC to start functioning by month-end

FHC to start functioning by month-end

The Federal High Court (FHC) would start functioning by the end of this month, caretaker Federal Law and Justice Minister Afzal Haider said here on Monday.
Published 11 Dec, 2007 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Monday (December 10, 2007).

Published 11 Dec, 2007 12:00am
'Tunisia wants to boost trade ties'

'Tunisia wants to boost trade ties'

Ambassador of Tunisia, Zouhaier Dhaouadi has said that his country wants to strengthen its trade and economic relations with Muslim countries in general and Pakistan in particular.
Published 11 Dec, 2007 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Monday (December 10, 2007).

Published 11 Dec, 2007 12:00am
NIT Unit Prices

NIT Unit Prices

The sale and repurchase prices of NIT (Unit) on Monday (December 10, 2007).

Published 11 Dec, 2007 12:00am
Multan DBA candidates intensify polls campaign

Multan DBA candidates intensify polls campaign

Candidates for the upcoming annual elections of District Bar Association (BA), Multan have intensified their campaign for election to be held on January 15, 2008.
Published 11 Dec, 2007 12:00am
NIT Unit Prices

NIT Unit Prices

The sale and repurchase prices of NIT (Unit) on Monday (December 10, 2007).

Published 11 Dec, 2007 12:00am
Over 2.515 million to cast votes in Larkana

Over 2.515 million to cast votes in Larkana

More than 2.515 million registered voters would exercise their right of franchise in the forthcoming general elections-2008 to be held on January 8, for 9 National Assembly constituencies in Larkana region including Larkana, Kamber-Shahdadkot, Shikarpur,
Published 11 Dec, 2007 12:00am
NIT Unit Prices

NIT Unit Prices

The sale and repurchase prices of NIT (Unit) on Monday (December 10, 2007).

Published 11 Dec, 2007 12:00am
Poll petitions adjourned

Poll petitions adjourned

The election tribunal headed by a Lahore High Court judge has adjourned until December 12 the case in an election petition challenging the election of former National Assembly speaker Yousaf Raza Gillani. The court also adjourned until December 11 another
Published 11 Dec, 2007 12:00am
Proper and honest use of vote discussed

Proper and honest use of vote discussed

A consultative forum of 50 religious scholars from all schools of thought discussed the subject of the "proper and honest use of vote" in the upcoming general elections under the auspices of the Pakistan Institute of National Affairs here on Monday with M
Published 11 Dec, 2007 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 1st December 2007.

Published 11 Dec, 2007 12:00am
JUI-F kicks off election campaign in Malakand

JUI-F kicks off election campaign in Malakand

Like other mainstream political parties, Jamiat Ulema-e-Islam (F) has also started election campaign to mobilise workers and voters in favour of party candidates.
Published 11 Dec, 2007 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 1st December 2007.

Published 11 Dec, 2007 12:00am
JUI-F to persuade Jamaat-i-Islami to contest elections

JUI-F to persuade Jamaat-i-Islami to contest elections

Maulana Fazalur Rehman, Secretary General Muttahida Majlis-i-Amal said Monday that JUI-F would try to persuade Jamaat-i-Islami to take part in elections at the forthcoming MMA's supreme council meeting to be held in Islamabad on Tuesday.
Published 11 Dec, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (December 10, 2007).

Published 11 Dec, 2007 12:00am