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Nov 13, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-02-07
Canadian dollar down

Canadian dollar down

The Canadian dollar shed more than a cent against the US dollar on Tuesday, due in part to a stronger greenback and a negative view on world economic growth stemming from a rough start in the equities markets. Domestic bond prices were higher on a flight
Published 07 Feb, 2008 12:00am
Yen edges up

Yen edges up

The yen edged up against the dollar and the euro on Wednesday but struggled to gain further despite a steep sell-off in equity markets that hurt risk appetite and reduced demand for carry trades. Traders said fears that a US recession could drag other eco
Published 07 Feb, 2008 12:00am
Dollar drops to lower 106 yen level

Dollar drops to lower 106 yen level

The US dollar dropped to the lower 106 yen level on Wednesday in Tokyo as sluggish US service industry data accelerated fears about a recession in the world's largest economy. The dollar traded at 106.27-30 yen, down from 106.76-86 yen in New York and 106
Published 07 Feb, 2008 12:00am
Australian dollar dips

Australian dollar dips

The Australian dollar lost ground on Wednesday as fears of a recession in the United States and the knock on effect on global growth saw investors turn risk averse and cut their holdings in high-yielding currencies.
Published 07 Feb, 2008 12:00am
Most Asian currencies fall

Most Asian currencies fall

Most Asian currencies fell on Wednesday after unexpectedly weak service sector data from the United States and Europe spurred a flight to less risky assets. The Indonesian rupiah initially shed half a percent to 9,250 per dollar as investors sold the high
Published 07 Feb, 2008 12:00am
Indonesian interest rates steady

Indonesian interest rates steady

The Indonesian central bank on Wednesday decided to keep its key interest rate unchanged at 8.0 percent for the second straight month amid rising inflation, its deputy governor said. "After taking into account various factors including people's expectatio
Published 07 Feb, 2008 12:00am
Samuels's suspect action to be tested

Samuels's suspect action to be tested

West Indies' Marlon Samuels is to undergo independent analysis of his suspect bowling action on Monday at England's National Cricket Academy at Loughborough University, the International Cricket Council (ICC) said in a statement on Wednesday.
Published 07 Feb, 2008 12:00am
India has jump on China in golf, says Els

India has jump on China in golf, says Els

India and China are both emerging economic powerhouses, but Ernie Els says the giant South Asian country has the jump on its communist neighbour when it comes to golf. The world number four, one of the sport's most prolific travellers who is a regular in
Published 07 Feb, 2008 12:00am
Japan, Australia and South Korea blaze to victories

Japan, Australia and South Korea blaze to victories

Asian heavyweights Japan, Australia and South Korea blazed to convincing victories as they got their World Cup qualifying campaigns off to fliers on Wednesday. Iran against Syria finished goalless while Iraq and China ground out a 1-1 draw, which will be
Published 07 Feb, 2008 12:00am
Dechy hits back against Peng in Paris

Dechy hits back against Peng in Paris

Nathalie Dechy helped ease France's Fed Cup misery as she ousted China's Peng Shuai in straight sets to advance to the second round of the WTA tournament here on Wednesday. Peng, 22, had been a key player in China's 3-2 World Group success over France at
Published 07 Feb, 2008 12:00am
Pentangular cricket tourney starts from February 10

Pentangular cricket tourney starts from February 10

The Pakistan Cricket Board (PCB) has unfurled venue schedules and names of teams and officials for the ABN Amro Pentangular Cup 2008 set to be played from February 10 to March 14 at a launching ceremony held here on Wednesday.
Published 07 Feb, 2008 12:00am
Gilchrist set to star in IPL

Gilchrist set to star in IPL

Record-breaking Australian cricketer Adam Gilchrist said on Wednesday he was upbeat about his chances of taking part in the lucrative inaugural Twenty20 Indian Premier League (IPL). The six-week competition kicks off in April and the 36-year-old wicket-ke
Published 07 Feb, 2008 12:00am
PCB limits Australian tour to four venues

PCB limits Australian tour to four venues

The Pakistan Cricket Board (PCB) has decided to limit Australia's tour, which is under threat due to security concerns, to four venues, an official said on Wednesday. The proposed March-April tour will take place in Karachi, Lahore, Multan and Faisalabad.
Published 07 Feb, 2008 12:00am
Serena Williams out of Anvers WTA tournament

Serena Williams out of Anvers WTA tournament

Serena Williams has pulled out of next week's WTA Antwerp tournament, organisers said Wednesday. The American, the holder of eight Grand Slam titles, is to undergo dental surgery to rectify a condition that also ruled her out of competing in this week's P
Published 07 Feb, 2008 12:00am
Sponsors support Sania Mirza

Sponsors support Sania Mirza

Asia's top tennis player Sania Mirza will retain her strong brand value despite her decision to shun Indian tournaments in protest at being dragged into needless controversies, Indian advertisers say.
Published 07 Feb, 2008 12:00am
Indian state paralysed by strike

Indian state paralysed by strike

India's West Bengal state was paralysed on Wednesday by a strike protesting against the police killing of five demonstrators who took part in an anti-unemployment rally, officials said.
Published 07 Feb, 2008 12:00am
Hillary is the frontrunner: Obama

Hillary is the frontrunner: Obama

Barack Obama declared Wednesday his chief rival for the Democratic presidential nomination, Hillary Clinton, was the "frontrunner" even though the outcome in the biggest day of voting so far left the two candidates in a tight race.
Published 07 Feb, 2008 12:00am
Hasina wins

Hasina wins

Detained former Bangladeshi premier Sheikh Hasina Wajed scored a victory against the army-backed government Wednesday with a court ruling that she could not be tried for corruption under emergency laws.
Published 07 Feb, 2008 12:00am
US could use harsh interrogations again

US could use harsh interrogations again

The United States may use waterboarding to question terrorism suspects in the future, the White House said Wednesday, rejecting the widely held belief that the practice amounts to torture.
Published 07 Feb, 2008 12:00am
McCain scores; Hillary and Obama draw

McCain scores; Hillary and Obama draw

Democrats Barack Obama and Hillary Clinton planned on Wednesday for a long and bruising presidential nominating battle and John McCain solidified a commanding Republican lead after a big night of key victories.
Published 07 Feb, 2008 12:00am
Tornadoes sweep US South, 48 dead

Tornadoes sweep US South, 48 dead

Tornadoes and thunderstorms ravaged parts of US South on Tuesday and Wednesday, killing at least 48 people, injuring more than 150 and causing widespread damage.
Published 07 Feb, 2008 12:00am
Gates estimates war costs but calls it inaccurate

Gates estimates war costs but calls it inaccurate

US Defence Secretary Robert Gates, pressed to estimate total war costs, said on Wednesday that Iraq and Afghanistan operations could cost $170 billion in 2009 but warned the figure was likely wrong. "I have no confidence in that figure," Gates told the US
Published 07 Feb, 2008 12:00am
US and UK urge allies to share Afghan combat burden

US and UK urge allies to share Afghan combat burden

The United States and Britain, the foreign countries with the most troops in Afghanistan, called on reluctant Nato allies on Wednesday to share the burden of combat against hard-line Taliban guerrillas.
Published 07 Feb, 2008 12:00am
Italy calls April election with Berlusconi in lead

Italy calls April election with Berlusconi in lead

Italy called a snap election for mid-April on Wednesday, heralding the possible return to power of media magnate Silvio Berlusconi who has a solid poll lead over the collapsed centre-left coalition.
Published 07 Feb, 2008 12:00am
Turkish parliament debates headscarf reform

Turkish parliament debates headscarf reform

Turkish MPs held a heated debate on Wednesday on a proposal to allow women to wear Islamic headscarves in universities, a move that has pitted the Islamist-rooted government against secularist forces.
Published 07 Feb, 2008 12:00am
China says power being restored for millions

China says power being restored for millions

Power supplies knocked out by fierce winter weather were being restored for millions of Chinese at the start of the Lunar New Year holiday on Wednesday, state media said, but residents in one city were sceptical.
Published 07 Feb, 2008 12:00am
Nancy Dye named first vice chancellor, president of AUW

Nancy Dye named first vice chancellor, president of AUW

Dr Nancy S. Dye, esteemed women's historian and President Emerita of Oberlin College, has been appointed the first Vice-Chancellor and President of the Asian University for Women (AUW). The University, sited in Chittagong in Bangladesh, aspires to become
Published 07 Feb, 2008 12:00am
Sterling eases

Sterling eases

Sterling dipped against the euro on Wednesday and hit a two-week low versus the dollar ahead of Thursday's widely-expected Bank of England interest rate cut. The BoE is expected to cut interest rates by 25 basis points - following December's cut to 5.5 pe
Published 07 Feb, 2008 12:00am
Yen gains in London

Yen gains in London

The yen gained against the dollar and euro on Wednesday as worries about the health of the global economy and a sharp sell off in Asian equity markets made investors less willing to take on risk. In such an environment, they tend to buy back the Japanese
Published 07 Feb, 2008 12:00am
Indian rupee up

Indian rupee up

The Indian rupee recovered from a two-week low to end higher on Wednesday, as exporters aggressively sold dollar holdings, offsetting waning outflows linked to a recent share offering, dealers said. The partially convertible rupee ended at 39.515/525 per
Published 07 Feb, 2008 12:00am
US Stocks: Wednesday's early afternoon trade

US Stocks: Wednesday's early afternoon trade

US stocks rebounded on Wednesday after financial results from Walt Disney Co and Time Warner Inc fed optimism that companies outside the financial sector have performed well. Adding another ray of hope, the Labour Department reported higher worker product
Published 07 Feb, 2008 12:00am
Credit spreads widen

Credit spreads widen

European credit spreads widened on Wednesday as investors fretted about US bond insurers and possible downgrades to their credit ratings. Fitch Ratings said on Tuesday it may cut the top-notch AAA rating of MBIA's insurance unit, and that bond insurers in
Published 07 Feb, 2008 12:00am
Credit spreads widen

Credit spreads widen

European credit spreads widened on Wednesday as investors fretted about US bond insurers and possible downgrades to their credit ratings. Fitch Ratings said on Tuesday it may cut the top-notch AAA rating of MBIA's insurance unit, and that bond insurers in
Published 07 Feb, 2008 12:00am
Asian bonds fall

Asian bonds fall

Asian bonds dropped further on Wednesday as investors took fright at a fall in a US service sector index to its lowest level since the 2001 recession. Markets are already edgy about troubles in the $2.4 trillion bond insurance industry, where rating agenc
Published 07 Feb, 2008 12:00am
Asian bonds fall

Asian bonds fall

Asian bonds dropped further on Wednesday as investors took fright at a fall in a US service sector index to its lowest level since the 2001 recession. Markets are already edgy about troubles in the $2.4 trillion bond insurance industry, where rating agenc
Published 07 Feb, 2008 12:00am
UK's top share index climbs

UK's top share index climbs

Britain's leading shares climbed on Wednesday, tracking a rise on Wall Street and as US recession fears prompted investors to scurry into defensive stocks as bank shares took yet another whipping. The FTSE 100 closed up 7.4 points, or 0.1 percent at 5,875
Published 07 Feb, 2008 12:00am
Indonesians appetite for gold as investment grows

Indonesians appetite for gold as investment grows

Indonesians are flocking to gold for investment purposes as returns on financial investments diminish, a director at state-owned miner PT Aneka Tambang Tbk said on Wednesday.
Published 07 Feb, 2008 12:00am
London cocoa rises; sugar and coffee fall

London cocoa rises; sugar and coffee fall

A weak pound supported London cocoa futures on Wednesday, while robustas eased on profit-taking and white sugar futures fell due to a lack of physical offtake, dealers said. A weak pound, dragged lower by expectations of a Bank of England rate cut, drove
Published 07 Feb, 2008 12:00am
Oil extends slump as US fuel stocks rise

Oil extends slump as US fuel stocks rise

Oil prices fell toward $87 a barrel on Wednesday, extending this month's losses to more than 5 percent, after a government report showed a surprisingly big build in US petroleum stockpiles. Oil prices have already been under heavy selling pressure since h
Published 07 Feb, 2008 12:00am
Kuwait firm to order six oil tankers

Kuwait firm to order six oil tankers

State-owned Kuwait Oil Tanker Co (KOTC) plans to order six new oil tankers including four giant crude vessels at a cost of 800 million dollars, the company chief said in comments published Wednesday.
Published 07 Feb, 2008 12:00am
New York cotton settles down on speculative sales

New York cotton settles down on speculative sales

Cotton futures finished softer on Tuesday on speculative sales in range-bound business although analysts said they are already looking toward a government crop report and at how China, the world's top consumer of cotton, handles its severe winter storms.
Published 07 Feb, 2008 12:00am
British Sugar to renounce 13.5 percent of UK sugar quota

British Sugar to renounce 13.5 percent of UK sugar quota

An application by Associated British Foods' unit British Sugar to give up permanently a 165,000 tonnes UK sugar output quota from October has been accepted by the state-run Rural Payments Agency, ABF said. This is 13.5 percent of the UK national quota set
Published 07 Feb, 2008 12:00am
Base metals rise

Base metals rise

Industrial metals rose on Wednesday in thin markets with buyers preparing for the start of top consumer China's Lunar New Year break. "The market is volatile and it makes it very difficult to trade and the uncertainty about the outlook of the global econo
Published 07 Feb, 2008 12:00am
London platinum hits record high, gold up

London platinum hits record high, gold up

Platinum hit an historic high on Wednesday as the market remained concerned about supplies from top producer South Africa following a power crisis that has hit mining operations there. Other precious metals also advanced with gold rising more than 2 perce
Published 07 Feb, 2008 12:00am
US MIDDAY: cocoa gains, coffee little changed

US MIDDAY: cocoa gains, coffee little changed

ICE arabica coffee futures were little changed in early trade on Wednesday, ahead of March options expiration at the end of the week, while spreading kept cocoa futures firm, dealers said.
Published 07 Feb, 2008 12:00am
US MIDDAY: sugar higher

US MIDDAY: sugar higher

Raw sugar futures crawled higher in early trade Wednesday on fund short-covering while more switch business was seen from players moving their long positions in the market, brokers said.
Published 07 Feb, 2008 12:00am
US MIDDAY: corn soars

US MIDDAY: corn soars

Chicago Board of Trade corn futures hit record highs on Wednesday on spillover support from the roaring US wheat markets which were locked limit-up, traders said.
Published 07 Feb, 2008 12:00am
US MIDDAY: soyabeans surge

US MIDDAY: soyabeans surge

Soyabean futures on the Chicago Board of Trade rose the 50-cent limit in the front three trading months on Wednesday, following strength in US wheat markets, traders said. March soyabeans were up 50 cents at $13.73 a bushel by 10:54 am.
Published 07 Feb, 2008 12:00am
US MIDDAY: platinum rallies, gold rebounds

US MIDDAY: platinum rallies, gold rebounds

New York platinum contracts rallied 2 percent to a record high on supply fears and strong speculative demand on Wednesday, while fund buying propelled gold futures to a sharp rebound from last session's heavy losses.
Published 07 Feb, 2008 12:00am
Exhibition at Gandhara Art

Exhibition at Gandhara Art

A preview of renowned contemporary artist Muddasar Manzoor's artwork was held on Wednesday at the Gandhara Art Space here. The exhibition which showcased the artist's impressive collection of contemporary miniatures, was attended by art connoisseurs and p
Published 07 Feb, 2008 12:00am
PML-Q to emerge as heavyweight party in polls: Shujaat

PML-Q to emerge as heavyweight party in polls: Shujaat

Pakistan Muslim League-Q (PML-Q) President Chaudhry Shujaat Hussain has said that his party will emerge as a heavyweight party in the forthcoming elections. Talking to a private TV channel, he regretted that everybody is criticising the steps, taken by Pr
Published 07 Feb, 2008 12:00am
Lawyers observe one-hour strike

Lawyers observe one-hour strike

Lawyers went on a one-hour strike on Wednesday demanding the reinstatement of deposed judges and the judiciary. Bar office holders and senior members also joined a hunger-strike camps set up by the bar and the Save Judiciary Committee. Political party wor
Published 07 Feb, 2008 12:00am
Who're they?

Who're they?

Ex-Servicemen Society comprising former Armed Forces commanders in its much hyped and publicised meeting in Islamabad has made some big demands which are nothing more than being unreasonable, unrealistic and uncalled for, indeed.
Published 07 Feb, 2008 12:00am
Why demand national government?

Why demand national government?

Why demand a national government at this critical juncture while the general election are little more than two weeks away from now? Is not this a rather belated move on the part of some opposition leaders?
Published 07 Feb, 2008 12:00am
Rich illegal immigrants in US hide in shadows

Rich illegal immigrants in US hide in shadows

Many illegal immigrants in the United States are manual labourers on low wages. But there's another group that attracts much less attention: entrepreneurs who have set up businesses, created jobs and grown affluent.
Published 07 Feb, 2008 12:00am
Najaf's underground haven of Iraqi history and fond memories

Najaf's underground haven of Iraqi history and fond memories

Whenever Saadiyah Ahmed is overcome by the torrid heat of Iraq's Najaf desert in the summer or when she is chilled by the glacial nights in winter, she disappears underground. The family cellar, one of thousands of elaborate excavations beneath the Shiite
Published 07 Feb, 2008 12:00am
Need of the hour is not ration cards, but ration stores

Need of the hour is not ration cards, but ration stores

The caretaker government has announced that in order to solve the crisis of flour, the system of ration cards will be introduced. The government feels that the ration-card system would provide, at subsidised rates, the essential food items to the poor, wh
Published 07 Feb, 2008 12:00am
Tackling militancy

Tackling militancy

The garrison town of Rawalpindi seems to be taking more than its due share of suicide-bombing that has been going on in the country with weird regularity over the last two years. On Monday, a motor-cyclist rammed his explosives-loaded vehicle into an army
Published 07 Feb, 2008 12:00am
Urgent action needed on the gas front

Urgent action needed on the gas front

Claiming that there was no shortage of gas in the country, Minister for Petroleum and Natural Resources Ehsanullah Khan is reported to have also told PTV News that full pressure supplies have been restored to domestic, CNG and industrial consumers.
Published 07 Feb, 2008 12:00am
Waste water evaporator installed at Adhi field

Waste water evaporator installed at Adhi field

Pakistan Petroleum Limited (PPL) has installed a waste water evaporator at Adhi field as part of the company's drive to promote safe, healthy and environment-friendly operations.
Published 07 Feb, 2008 12:00am
'People want real democracy under Nawaz leadership'

'People want real democracy under Nawaz leadership'

Pakistan Muslim League (PML-N)'s Central Senior Vice President Makhdoom Javed Hashmi and candidate for NA-148,149 (Multan) has said that people want change and real democracy in Pakistan under the leadership of Mian Nawaz Sharif. He said this while addres
Published 07 Feb, 2008 12:00am
PML-N candidates take oath for restoration of judiciary

PML-N candidates take oath for restoration of judiciary

The Pakistan Muslim League-N candidates took oath that, if elected as parliament members, they would play their role and devote energies to restore the judiciary. The candidates have also vowed to play their role in ending the army's political role and re
Published 07 Feb, 2008 12:00am
'Next chief minister of Sindh to be from PML-F'

'Next chief minister of Sindh to be from PML-F'

Pakistan Muslim League (Functional), Sindh Chief Pir Saddaruddin Shah Rashdi has claimed that next Chief Minister of the province would be of his party. "PML-F, MQM, NPP and other allies would form the government in Sindh and the Chief Minister would be o
Published 07 Feb, 2008 12:00am
MQM gears up mass contact campaign

MQM gears up mass contact campaign

The Haq Parast candidates have geared up their election campaign of mass contact in the metropolis as election date draws closer. MQM candidate from PS-116 Sardar Ahmed said on Wednesday that the candidates of opposite political parties needed to show a r
Published 07 Feb, 2008 12:00am
'High alert on Indo-Pak borders'

'High alert on Indo-Pak borders'

After the outbreak of an avian flu was reported in Pakistan, the government here has put its monitoring centres stationed along the Line of Control and International Borders on "extra alert".
Published 07 Feb, 2008 12:00am
No bird flu in Punjab, says minister

No bird flu in Punjab, says minister

Caretaker Punjab Minister for Agriculture and Livestock Mumtaz Ahmed Khan Manais has categorically stated that there was no bird flu in Punjab and we have increased the surveillance of poultry farms and taking all precautionary measures to check its outbr
Published 07 Feb, 2008 12:00am
Blast kills one in Khyber Agency

Blast kills one in Khyber Agency

At least one person was killed and two others seriously injured when a bomb exploded in a scrape godown in Shah Qas Jamrud in Khyber Agency on Wednesday. According to Tehsildar, Khalid Khan Kundi, one person named Baz Muhammad s/o Dad Gul was killed and t
Published 07 Feb, 2008 12:00am
ANP leader Kakakhail shot dead

ANP leader Kakakhail shot dead

The vice-president of Awami National Part (ANP), Sindh, Fazlur Rehman Kakakhail, was shot dead in an incident of firing in Sohrab Goth area on Wednesday evening. He was going in his car when unknown persons intercepted him near Al-Asif Square and opened f
Published 07 Feb, 2008 12:00am
Severe cold wave lashes southern Punjab

Severe cold wave lashes southern Punjab

Severe cold wave continues in Multan and rest of Southern Punjab as the mercury fell to 4.7°C and maximum temperature was 17.4°C. However, continuous rain, load shedding of electricity and natural gas added to people's miseries. The Met office forecast ch
Published 07 Feb, 2008 12:00am
Cotton output target easily achievable: experts

Cotton output target easily achievable: experts

The country's revised cotton production target, fixed at 11.6 million bales, will be achieved easily, said cotton research experts here on Wednesday. Talking to APP, Director, Central Cotton Research Institution (CCRI) Muhammad Arshad and Director, cotton
Published 07 Feb, 2008 12:00am
Memon appointed director of Kazi Institute

Memon appointed director of Kazi Institute

Sindh University Syndicate has appointed Dr Muhammad Usman Memon as new Director of Dr M A Kazi Institute of Chemistry, University of Sindh, in its 16th meeting held on Wednesday. The meeting was presided over by Vice Chancellor of the University, Mazharu
Published 07 Feb, 2008 12:00am
PAF-KIET convocation on February 9

PAF-KIET convocation on February 9

The Convocation 2008 of the PAF-Karachi Institute of Economics and Technology (KIET) will be held at its Korangi Creek Campus here on Saturday (February 9). An announcement of the institution here on Wednesday said that the Governor of Sindh, Dr Ishratul
Published 07 Feb, 2008 12:00am
Seminar on capital market

Seminar on capital market

A seminar on "Capital Market and its Impact on the Pakistan's Economy" was organised at the University of Karachi here on Wednesday. Ali Alvi of the AKD Investments was the guest speaker of the event and his lecture on the topic was attended by the facult
Published 07 Feb, 2008 12:00am
Seminar on capital market

Seminar on capital market

A seminar on "Capital Market and its Impact on the Pakistan's Economy" was organised at the University of Karachi here on Wednesday. Ali Alvi of the AKD Investments was the guest speaker of the event and his lecture on the topic was attended by the facult
Published 07 Feb, 2008 12:00am
Czech investors seek investment in Pakistan

Czech investors seek investment in Pakistan

Several investors from the Czech Republic are planning to visit Pakistan to get a first-hand knowledge of business opportunities to kick-start a string of joint ventures with their Pakistani counterparts.
Published 07 Feb, 2008 12:00am
Toxic effluent disposal into River Indus forbidden

Toxic effluent disposal into River Indus forbidden

The Provincial Secretary to Environment and Alternate Energy Mir Hussain Ali has directed the authorities concerned to avoid the disposal of their industrial toxic effluent into River Indus, failing which strict action would be taken against them.
Published 07 Feb, 2008 12:00am
Moot on 'barrier free environments for disabled' on February 9

Moot on 'barrier free environments for disabled' on February 9

The National Conference on "Barrier Free Environments for Persons with Disabilities" would be held here on Saturday, February 9. The conference is being organised by Social Welfare and Special Education Ministry to provide an environment that would allow
Published 07 Feb, 2008 12:00am
Ministry spending Rs 25.1 billion on upgradation of R&D projects

Ministry spending Rs 25.1 billion on upgradation of R&D projects

The Ministry of Science and Technology (Most) has started 132 development projects worth Rs 25.1 billion to upgrade and modernise the existing research and development (R&D) organisations, sources here said. According to the sources, a total of eight deve
Published 07 Feb, 2008 12:00am
Law University to start functioning from March

Law University to start functioning from March

The National Law University (NLU), with campuses in all the four provinces, will start functioning in March, an Higher Education Commission (HEC) official said. The university would have linkages with other international institutions imparting legal educa
Published 07 Feb, 2008 12:00am
FBR may impose minor penalty on four suspended tax officials

FBR may impose minor penalty on four suspended tax officials

The Federal Board of Revenue (FBR) is likely to impose minor penalty on four suspended officials of customs and excise group, involved in issuance of illegal refunds of excise duty to the payphone companies.
Published 07 Feb, 2008 12:00am
PEL Commercial Paper issue: IGI Investment Bank hosts ceremony

PEL Commercial Paper issue: IGI Investment Bank hosts ceremony

IGI Investment Bank Limited (IGIBL) hosted a ceremony in capacity of Mandated Lead Advisor and Arranger to conclude the Commercial Paper issue of Rs 500 million (the Transaction) by Pak Elektron Limited (PEL). Pak Iran Joint Investment Company Limited and
Published 07 Feb, 2008 12:00am
SECP introduces REIT rules

SECP introduces REIT rules

The Securities and Exchange Commission of Pakistan (SECP) has introduced the Regulator Framework for Real Estate Investment Trust (REIT) in a ceremony held in Karachi on Wednesday. After the introduction of Regulatory Framework for REIT by the Securities
Published 07 Feb, 2008 12:00am
PIA issues over 140 million 'A' class shares

PIA issues over 140 million 'A' class shares

Pakistan International Airlines (PIA) has issued 140,444,307 'A' class shares having a total face value of Rs 1,404,443,070 to federal government. A certificate to this effect had been issued on December 07, 2007, PIA in its letter sent to Karachi Stock E
Published 07 Feb, 2008 12:00am
PIA issues over 140 million 'A' class shares

PIA issues over 140 million 'A' class shares

Pakistan International Airlines (PIA) has issued 140,444,307 'A' class shares having a total face value of Rs 1,404,443,070 to federal government. A certificate to this effect had been issued on December 07, 2007, PIA in its letter sent to Karachi Stock E
Published 07 Feb, 2008 12:00am
Killing of ANP leader condemned

Killing of ANP leader condemned

Caretaker Sindh Chief Minister, former Justice Abdul Qadir Halepota has strongly condemned the killing of Fazlur Rehman Kakakhail Vice-President ANP Sindh and Zakir, a PPI worker, in an armed attack near Al-Asif Square in Sohrab Goth area on Wednesday.
Published 07 Feb, 2008 12:00am
'Navtec to impart skill training to 625,000 personnel'

'Navtec to impart skill training to 625,000 personnel'

Chairman National Vocational and Technical Education Commission (Navtec) Altaf Salim said on Wednesday that the commission will impart skill training to 625,000 personnel in different professions all over the country during the current fiscal year to main
Published 07 Feb, 2008 12:00am
FBR may conduct audit of PACCS

FBR may conduct audit of PACCS

The Federal Board of Revenue is likely to conduct forensic audit of the Pakistan Customs Computerised System (PACCS) to verify the authenticity of systems and software used for computerised clearance of goods without physical examination.
Published 07 Feb, 2008 12:00am
'Impartial judges most vital pillars of judiciary and democracy'

'Impartial judges most vital pillars of judiciary and democracy'

Deposed Judges Khawaja Muhammad Sharif and Iqbal Hameedur Rehman have said freedom of expression can only be achieved when there is no abuse of power. They told the Lahore High Court Bar Association on Wednesday that the power abuse could only be checked
Published 07 Feb, 2008 12:00am
Election Commission sets up live RRCs

Election Commission sets up live RRCs

Election Commission (EC) has set up live Result Receiving Centres (RRCs), two for Punjab and one each for other provinces that would pass results immediately to media after receiving from Returning Officer by telephone and telefax.
Published 07 Feb, 2008 12:00am
The Weather

The Weather

The weather report on Wednesday (February 06, 2008) and the forecast for Thursday (February 07, 2008).
Published 07 Feb, 2008 12:00am
PML-Q leader Chaudhry Rifaqat joins PPPP

PML-Q leader Chaudhry Rifaqat joins PPPP

Pakistan Peoples Party, Lahore President Aziz-u-Rehman Chan has appealed to the masses to cast their valuable vote because it was the only way to deter the rigging in the elections and stressed the people to elect the right candidate who can fulfil their
Published 07 Feb, 2008 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 07 Feb, 2008 12:00am
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