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Print - 2007-12-15
EU to offer post-Kosovo fast track to Serbia

EU to offer post-Kosovo fast track to Serbia

European Union leaders will offer Serbia a fast-track route to joining the bloc in a bid to soothe Balkan tensions over Kosovo's push for independence, a summit draft showed on Friday.
Published 15 Dec, 2007 12:00am
India speeding up nuclear missile production

India speeding up nuclear missile production

Nuclear-armed India said on Friday it was ready to jump-start production of long-range nuclear missiles which can hit targets deep in China or Pakistan. V. K. Sarswat, the chief of India's missile development project, said the assembly lines were in place
Published 15 Dec, 2007 12:00am
Hamas arrests Palestinian Prime Minister advisor in Gaza

Hamas arrests Palestinian Prime Minister advisor in Gaza

Hamas said Friday it had arrested a political advisor of the Palestinian premier, whose government was appointed after the Islamists seized control of the Gaza Strip. "Interior ministry security forces arrested Omar al-Ghul. An investigation has begun int
Published 15 Dec, 2007 12:00am
North Korea has replied to Bush letter: White House

North Korea has replied to Bush letter: White House

North Korea has replied to President George W. Bush's first direct communication with its leader Kim Jong-Il, the White House said Friday. "We received a verbal reply," said National Security Council spokesman Gordon Johndroe, adding that "all members of
Published 15 Dec, 2007 12:00am
Bush urges full North Korea nuclear disclosure

Bush urges full North Korea nuclear disclosure

US President George W. Bush on Friday urged North Korean leader Kim Jong-Il to fully disclose his country's nuclear programs, stores of atomic materials, and any "proliferation activities."
Published 15 Dec, 2007 12:00am
Two women killed in fresh Somali violence

Two women killed in fresh Somali violence

Two Somali women were killed by crossfire in Mogadishu Friday, a day after intense shelling and gunbattles left 17 people dead in the country's restive capital, a witness said. Shelling in northern neighbourhoods continued early in the morning, only hours
Published 15 Dec, 2007 12:00am
17 UN staffers killed in Algiers bombings

17 UN staffers killed in Algiers bombings

A total of 17 UN staffers have been killed in this week's car bombings in Algiers, a UN spokeswoman said here Friday. "Seventeen UN staff were killed" in Tuesday's attacks on UN facilities, Marie Okabe told a press briefing, updating an earlier toll of 11
Published 15 Dec, 2007 12:00am
Sri Lanka's war budget approved despite defections

Sri Lanka's war budget approved despite defections

Sri Lanka's shaky coalition government on Friday won parliamentary approval for the island's biggest ever war budget, despite a series of defections to the opposition.
Published 15 Dec, 2007 12:00am
Two bombs outside India consulate in Afghanistan

Two bombs outside India consulate in Afghanistan

Two home-made bombs exploded overnight outside an Indian consulate in eastern Afghanistan, causing no casualties or damage, officials said Friday. Two improvised explosive devices (IEDs) were lobbed at the consulate in Jalalabad city, the capital of Nanga
Published 15 Dec, 2007 12:00am
Sterling falls

Sterling falls

Sterling fell versus a broadly stronger dollar on Friday, ending the week on a subdued note after weak UK housing numbers contrasted with higher than expected US inflation data.
Published 15 Dec, 2007 12:00am
Dollar at six-week high in London

Dollar at six-week high in London

The dollar hit a six-week high versus a basket of currencies on Friday as strong US data the previous session eased some of the more extreme fears for the US economy and more aggressive bets for lower interest rates.
Published 15 Dec, 2007 12:00am
Indian rupee climbs

Indian rupee climbs

The Indian rupee climbed to its highest close in nearly a month on Friday, driven by strong capital inflows into the fast-growing economy, though sporadic central bank intervention limited gains, dealers said. The partially convertible rupee ended at 39.3
Published 15 Dec, 2007 12:00am
European credit spreads tighten

European credit spreads tighten

European credit spreads were tighter late on Friday, but trading volumes were thin, with US inflation taking centre stage along with Citigroup after it said it was bailing out its structured investment vehicles. Citigroup said it was rescuing $49 billion
Published 15 Dec, 2007 12:00am
European credit spreads tighten

European credit spreads tighten

European credit spreads were tighter late on Friday, but trading volumes were thin, with US inflation taking centre stage along with Citigroup after it said it was bailing out its structured investment vehicles. Citigroup said it was rescuing $49 billion
Published 15 Dec, 2007 12:00am
Indian shares slip

Indian shares slip

Indian share prices fell 0.37 percent in choppy and rangebound trade on Friday in line with a weakening of Asian markets amid general concern about the outlook for the US economy, dealers said. They said index-linked banking, capital goods and telecoms fe
Published 15 Dec, 2007 12:00am
Britain's top share index rises

Britain's top share index rises

Britain's leading shares ended higher on Friday after a dizzy and choppy session where banks led but trading levels were thin as credit-market liquidity concerns still fizzled. The FTSE 100 was up 32.8 points, or 0.5 percent at 6,397.0 after plummeting 3
Published 15 Dec, 2007 12:00am
Bribery probes seen changing oil services business

Bribery probes seen changing oil services business

A raft of government bribery investigations launched into US oilfield companies is likely to spur reform in the industry, but will also preoccupy top executives and slow business in regions such as West Africa.
Published 15 Dec, 2007 12:00am
London sugar up; coffee, cocoa down

London sugar up; coffee, cocoa down

London white sugar futures climbed to a four-and-a-half-month high in late trading on Friday although there was concern the run-up in prices could be stalled by producer selling, dealers said.
Published 15 Dec, 2007 12:00am
Oil retreats on US economic worries

Oil retreats on US economic worries

Oil prices fell below $92 a barrel on Friday on concerns that rising consumer prices could increase the headwinds facing the US economy and lead to a slump in fuel demand. US crude for January delivery settled 98 cents lower at $91.27 a barrel.
Published 15 Dec, 2007 12:00am
Egypt's GASC cancels wheat tender

Egypt's GASC cancels wheat tender

Egypt's main government wheat buyer said on Friday that it had cancelled a tender to purchase wheat. Said el-Hefny, vice chairman of the General Authority for Supply Commodities (GASC) did not give a reason for the cancellation.
Published 15 Dec, 2007 12:00am
New York cotton futures surge

New York cotton futures surge

Cotton futures finished Friday at their highest level in five months on speculative fund buying and news that US cotton plantings in 2008 may fall to a 25-year low, brokers said. ICE Futures open-outcry March cotton contract climbed 0.94 cent to finish at
Published 15 Dec, 2007 12:00am
Copper descends on rising stocks

Copper descends on rising stocks

Copper drifted lower on Friday, as a hefty rise in inventories and persistent worries about weakening demand for metals dragged down prices. Consumer buying creeping in after a sharp fall in the previous session helped support prices but was not enough to
Published 15 Dec, 2007 12:00am
Gold dips in London

Gold dips in London

Spot gold slipped to a one-week low in late European trade on Friday after the dollar extended gains on data showing US consumer prices for November came in higher than expected.
Published 15 Dec, 2007 12:00am
US MIDDAY: cocoa falls, coffee steadies

US MIDDAY: cocoa falls, coffee steadies

US cocoa futures fell on profit taking in early trade on Friday, after touching a 4-1/2-month high Thursday, while arabica coffee hovered around the unchanged mark, traders said. On the screen, ICE's March cocoa contract fell 2.3 percent or $48 to $2,066
Published 15 Dec, 2007 12:00am
US MIDDAY: sugar mixed

US MIDDAY: sugar mixed

Raw sugar futures were mixed in early dealings on Friday in activity featuring small speculators as the market seems content to hover near levels representing a four-month high, brokers said. ICE Futures electronic March sugar contract fell 0.02 cent to 1
Published 15 Dec, 2007 12:00am
US MIDDAY: wheat mixed

US MIDDAY: wheat mixed

Soft red winter wheat futures on the Chicago Board of Trade were mixed at midday on Friday in volatile trade, with nearby, old-crop contracts gaining sharply against deferred, new-crop contracts on spreads, traders said.
Published 15 Dec, 2007 12:00am
US MIDDAY: corn mixed

US MIDDAY: corn mixed

Corn futures on the Chicago Board of Trade were mixed on Friday with supportive export news and an energy bill that is friendly to corn usage pitted against bearish moves in outside markets such as lower crude oil and gold and a firm dollar, traders said.
Published 15 Dec, 2007 12:00am
US MIDDAY: soyabeans firm

US MIDDAY: soyabeans firm

Soyabean futures at the Chicago Board of Trade were firm early Friday on continued technical buying, with support stemming from an active export pace and outlooks for a sharp drawdown in supplies, traders said.
Published 15 Dec, 2007 12:00am
US MIDDAY: copper slips

US MIDDAY: copper slips

US copper futures extended early declines on Friday following the dollar's rise when US consumer inflation jumped more than forecast, but after the initial reaction, traders said activity died down and prices stayed within a limited range.
Published 15 Dec, 2007 12:00am
US MIDDAY: gold falls

US MIDDAY: gold falls

New York gold futures dropped almost 1 percent early on Friday, hurt by lower energy prices and a sharp dollar rise after a report showed signs of US consumer inflation, slashing expectations of more aggressive rate cuts from the Federal Reserve.
Published 15 Dec, 2007 12:00am
PHMA satisfied over resolution of LDP issue

PHMA satisfied over resolution of LDP issue

The Pakistan Hardware Merchants Association (PHMA) has expressed satisfaction over the resolution of Lahore Dry Port (LDP) issue by (LCCI) Association Central and Circle Chairmen Sardar Usman Ghani and Sheikh Sikandar Riaz praising LCCI's newly elected of
Published 15 Dec, 2007 12:00am
'Government should subsidise import of LPG'

'Government should subsidise import of LPG'

Abdul Hadi Khan, Chairman, Liquefied Petroleum Gas (LPG) Distribution Association has said that LPG producers were minimising the LPG production upto 200 tonnes to 300 tonnes per day and fixed its production upto 1500 tonnes to 1550 tonnes per day.
Published 15 Dec, 2007 12:00am
Tejari seminar held

Tejari seminar held

Tejari, the regions leading online B2B marketplace, demonstrated how companies could benefit from its online marketplace, at a recent seminar arranged for a cross sector and cross industry audience. Tejari Pakistan Limited was the key sponsor of the event
Published 15 Dec, 2007 12:00am
KESC - promise and performance

KESC - promise and performance

In their report to the shareholders for the period July-September 2007, the Directors of KESC had said and I quote: "Contract for new power plant - Phase-1 of 220 MW has already been awarded and first Gas Turbine (GT) of 48 MW, is likely to be commissione
Published 15 Dec, 2007 12:00am
They stand divided

They stand divided

Within a day or two of the breaking away of the Opposition parties alliance, APDM, the religious parties alliance, MMA, has also whithered away in the thin air. This is not something to be appreciated and welcomed as this is indeed a sad commentary on the
Published 15 Dec, 2007 12:00am
US teaches Asia a lesson on education philanthropy

US teaches Asia a lesson on education philanthropy

Asian universities lag far behind the United States in luring philanthropic donations and until attitudes change the best students will continue to seek the extra sparkle of a Western degree, analysts say.
Published 15 Dec, 2007 12:00am
Huge China apple crop falls short of juice demand

Huge China apple crop falls short of juice demand

It is peak harvest season in this village in northern China, and apples are piled high on both sides of the road, clogging the traffic of tractors, trucks and carts bringing in the crop from all around. China is the world's top apple grower, accounting fo
Published 15 Dec, 2007 12:00am
Public-Private Partnership: new development strategy

Public-Private Partnership: new development strategy

Public-Private Partnership, unlike privatisation, involving takingover of the state-owned enterprises, is a kind of joint venture between the two sectors sharing both losses and benefits.
Published 15 Dec, 2007 12:00am
Aitzaz sets the pace

Aitzaz sets the pace

Barrister Aitzaz Ahsan, a potential winner in the election to the National Assembly from a Lahore constituency, has decided to withdraw his candidature "to stand with the lawyers who had launched a heroic struggle for the restoration of judiciary and supr
Published 15 Dec, 2007 12:00am
Disconnection of gas supply

Disconnection of gas supply

Disconnection of gas supply to as many as 100 export-oriented textile units in Warburton and Manga areas at a time when the country's trade deficit is touching $16 billion will further erode the economic viability of the textile sector, says a Recorder
Published 15 Dec, 2007 12:00am
The Weather

The Weather

The weather report on Friday (December 14, 2007) and the forecast for Saturday (December 15, 2007).
Published 15 Dec, 2007 12:00am
Quaid's birth anniversary to be celebrated with fervour

Quaid's birth anniversary to be celebrated with fervour

Caretaker Sindh Chief Minister, former Justice Abdul Qadir Halepota, has said that the birthday anniversary of Quaid-i-Azam Muhammad Ali Jinnah would be celebrated on December 25 with great enthusiasm and fervour. This he said while talking to a PTV deleg
Published 15 Dec, 2007 12:00am
New York cotton

New York cotton

Thursday's closing prices of New York cotton in US cents/lb.
Published 15 Dec, 2007 12:00am
World Bank to provide $25 million for irrigation projects in Balochistan

World Bank to provide $25 million for irrigation projects in Balochistan

Small Scale Irrigation project has been prepared for the improvement of irrigation sector in the province for which World Bank would provide 25 million dollars. This information was given to Balochistan Governor Owais Ahmad Ghani by a mission of World Ban
Published 15 Dec, 2007 12:00am
New York cotton

New York cotton

Thursday's closing prices of New York cotton in US cents/lb.
Published 15 Dec, 2007 12:00am
CDGK to launch 'Rescue Service' soon

CDGK to launch 'Rescue Service' soon

City District Government Karachi (CDGK) has given final shape to the establishment of "Rescue Service" which will be launched soon. A meeting held under the chairmanship of City Nazim Syed Mustafa Kamal here on Friday, decided to set-up a new department f
Published 15 Dec, 2007 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (December 14, 2007).
Published 15 Dec, 2007 12:00am
Pakistan ambassador visits Astro centre in Kuala Lumpur

Pakistan ambassador visits Astro centre in Kuala Lumpur

High Commissioner of Pakistan General Tahir Mahmud Qazi (Retd), for Malaysia has visited the Astro facility in Kuala Lumpur. According to the High Commissioner's sources, the visit proved extremely fruitful as it gave the first hand knowledge of the facil
Published 15 Dec, 2007 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (December 14, 2007).
Published 15 Dec, 2007 12:00am
Over 212,000 jobs opportunities generated in telecom sector

Over 212,000 jobs opportunities generated in telecom sector

Over 212,000 employment opportunities have been generated countrywide in the telecom sector only by the cellular mobile operators. A study conducted by Deloitte this year revealed that over one million job opportunities have been created since the liberal
Published 15 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 15 Dec, 2007 12:00am
56 flour sale points set up in Faisalabad

56 flour sale points set up in Faisalabad

In order to ensure supply of flour to the consumers in sufficient quantity, 56 Special Sale-points have been set up in Faisalabad where the Flour Mills would supply the flour as per requirement.
Published 15 Dec, 2007 12:00am
Art and essay competition held

Art and essay competition held

Naveed Khan and Saima Maqbool of Fine Arts Department, Peshawar University, have won first and second prizes respectively in the art competition. Moreover, Faisal Kamal, Institute of Management Studies, won prize and certificate in the essay competition t
Published 15 Dec, 2007 12:00am
3.75 tons of charas seized

3.75 tons of charas seized

Excise and Taxation (E&T) Department, Larkana, in one of the biggest haul in its history, seized huge quantity of 3,760 kilogram (3.75 tons) of fine quality charas, near check post at Kashmore. This was disclosed by caretaker Minister for E&T Dr Abdul Kar
Published 15 Dec, 2007 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (December 14, 2007).
Published 15 Dec, 2007 12:00am
Erra to start project in 86 UCs of quake-affected areas

Erra to start project in 86 UCs of quake-affected areas

The Earthquake Reconstruction and Rehabilitation Agency (Erra) will start livelihood project in 86 union councils in the earthquake-affected districts of NWFP. This was told in a first meeting of the Provincial Livelihood Working Group held here on Friday
Published 15 Dec, 2007 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Friday (December 14, 2007) and for Saturday (December 15, 2007).
Published 15 Dec, 2007 12:00am
Pakistani lawyers to visit India

Pakistani lawyers to visit India

The ANUVRAT, global organisation has invited a five-member lawyers and human rights activists delegation to participate in it's Silver Jubilee celebrations in Jaipur, India.
Published 15 Dec, 2007 12:00am
Lawyers observe hunger strike

Lawyers observe hunger strike

Lawyers observed hunger strike to protest the Provisional Constitutional Order, the emergency and the termination of judges of higher courts in a camp of the Lahore High Court Bar Association (LHCBA).
Published 15 Dec, 2007 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (December 14, 2007).
Published 15 Dec, 2007 12:00am
Lawyers urged to closely monitor polls

Lawyers urged to closely monitor polls

Reviewing the prevailing election scenario in the country, the Citizens Group on Electoral Process, chaired by former chief jusitce of Pakistan Saeed uz Zaman Siddiqui, has urged the lawyers and the civil society to play an active role in monitoring elect
Published 15 Dec, 2007 12:00am
UNO to set up care centre at Lahore district jail

UNO to set up care centre at Lahore district jail

Drug and Cure section of UNO will establish a "Drug Cure Centre" at District Jail Lahore for the early rehabilitation of addict convicts and under trial prisoners. Inspector General of Prisons Punjab, Captain Sarfaraz Ahmad Mufti (retd) told APP here on F
Published 15 Dec, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (December 14, 2007).
Published 15 Dec, 2007 12:00am
MQM hails support of HCCI

MQM hails support of HCCI

Zonal Incharge Muttahida Qaumi Movement (MQM), Hyderabad Muhammad Sharif extended thanks to Hyderabad Chamber of Commerce and Industry (HCCI) for supporting MQMs' candidates in upcoming elections. He was speaking at a reception given by HCCI in honour of
Published 15 Dec, 2007 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (December 14, 2007).
Published 15 Dec, 2007 12:00am
Earth breaking of Punjab University textile processing building

Earth breaking of Punjab University textile processing building

Pakistan has a lot of potential and raw material in textile sector only need is to produce value added products by using new technology to get self reliance, Punjab University Vice Chancellor Professor Dr Muhammad Arif Butt told the earth-breaking ceremon
Published 15 Dec, 2007 12:00am
Clarification

Clarification

Apropos a news item "60 paisa per unit increase in power tariff approved" carried by Business Recorder on Friday, the Finance Division has clarified that the news item has given an erroneous impression that the finance minister had approved a 60 pa
Published 15 Dec, 2007 12:00am
THE RUPEE: all round gains

THE RUPEE: all round gains

An appreciation of four paisa was again witnessed in the rupee value against dollar for buying and selling at Rs 61.16 and Rs 61.18 in the interbank market on Friday as supply was strong to meet the demand, dealers said.
Published 15 Dec, 2007 12:00am
Pepco takes steps to improve power supply

Pepco takes steps to improve power supply

To mitigate the power supply shortfall, Pakistan Electric Power Company (Pepco) has initiated a number of measures as part of crisis management, including supply and demand management besides launching Energy Conservation Campaign to reduce the demand-sup
Published 15 Dec, 2007 12:00am
THE RUPEE: all round gains

THE RUPEE: all round gains

An appreciation of four paisa was again witnessed in the rupee value against dollar for buying and selling at Rs 61.16 and Rs 61.18 in the interbank market on Friday as supply was strong to meet the demand, dealers said.
Published 15 Dec, 2007 12:00am
National Trade corridor to cost $5.36 billion

National Trade corridor to cost $5.36 billion

The total investment cost of National Trade Corridor (NTC) highway investment plan for 2007-2014 is estimated at $5.36 billion, while Asian Development Bank (ADB) has announced that the maximum financing amount of $900 million will be available under Mult
Published 15 Dec, 2007 12:00am
Roomi elected President MCCI

Roomi elected President MCCI

Caretaker Provincial Minister for Industries Khawaja Muhammad Jalal-uddin Roomi has been elected as President of Multan Chamber of Commerce and Industry (MCCI) for the term 2007-08 while Adnan Ahmed Khan has been elected as Senior Vice President.
Published 15 Dec, 2007 12:00am
BoP announces education support programme

BoP announces education support programme

Bank of Punjab (BoP) President Hamesh Khan has announced an Education Support Programme for clerical and non-clerical staff of the bank. A bank spokesman said here on Friday that the scheme would provide an opportunity to the low income staff of the bank
Published 15 Dec, 2007 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Friday (December 14, 2007).
Published 15 Dec, 2007 12:00am
Countries may use 'trade remedy laws' to protect local industry

Countries may use 'trade remedy laws' to protect local industry

Former Supreme Court of Gambia chief justice Muhammad Arif Chaudhry has said that countries may use Trade Remedy Laws to provide disguised protection to their local industry and avoiding their international commitment of moving towards free trade.
Published 15 Dec, 2007 12:00am
Strict security arrangements during Eid

Strict security arrangements during Eid

Namaz-e-Eid-ul-Azha in Karachi will be offered at 3000 places and special security arrangements will be made at these and 100 other places. This was stated by caretaker Sindh Home Minister Brigadier Akhtar Zamin (Retd) while chairing an important meeting
Published 15 Dec, 2007 12:00am
Illegal detention: director general ACE orders arrest of SHO

Illegal detention: director general ACE orders arrest of SHO

Punjab Anti-Corruption Establishment (ACE) Director General Muhammad Aslam Ghumman has ordered arrest of SHO Kharian police station Raja Muhammad Younis and 15 police officials for arresting six people, including two police officials without any justifica
Published 15 Dec, 2007 12:00am
CFAOs training programme concludes

CFAOs training programme concludes

The Auditor General of Pakistan Tanwir Ali Agha has emphasised the need to fully utilise professional skills for further improving financial management of ministries/divisions, says a Press Release. He was speaking at a closing ceremony of CFAOs ten days
Published 15 Dec, 2007 12:00am
Pulses import down by 28 percent

Pulses import down by 28 percent

The import of pulses has declined by around 28 percent during the first four months (July-October) of the current fiscal year, said importers on Friday. They said that international price of pulses was higher against its sales in the domestic markets, whi
Published 15 Dec, 2007 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.
Published 15 Dec, 2007 12:00am
Rs one million for treatment of Mehdi Hassan

Rs one million for treatment of Mehdi Hassan

Federal government has approved one million rupees for the treatment of Mehdi Hassan, a singing legend, as he is bed ridden for a long time. Federal Minister for Sports and Culture Sardar Sikandar Hayat Khan Jogezai would present a cheque to Mehdi Hassan
Published 15 Dec, 2007 12:00am
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