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Print - 2008-02-13
GASC cancels wheat tender

GASC cancels wheat tender

Egypt's main government wheat buyer said on Tuesday he had cancelled a tender announced on Monday, with US grain traders citing high prices as the reason. Said el-Hefny, vice chairman of the General Authority for Supply Commodities (GASC), did not give a
Published 13 Feb, 2008 12:00am
Oil falls

Oil falls

Oil prices fell on Tuesday as fears eased that Venezuela would follow through on a threat to cut off shipments to the United States and on forecasts for an increase in US crude inventories. The Opec nation softened its tone over a threat to stop oil sales
Published 13 Feb, 2008 12:00am
Malaysia to introduce palm diesel this year

Malaysia to introduce palm diesel this year

Malaysia hopes to introduce palm-blended biodiesel this year, the country's commodities minister said on Tuesday. "I have always said that 2008 may be the year that we can introduce it," Commodities Minister Peter Chin told Reuters in an interview in the
Published 13 Feb, 2008 12:00am
New York cotton futures at fresh four-week low

New York cotton futures at fresh four-week low

Cotton futures settled on Tuesday at a fresh four-week low on modest speculative sales as the market's moves were dictated on the whole by plunging prices in the grains complex, traders said. ICE Futures' open-outcry March cotton contract eased 0.14 cent
Published 13 Feb, 2008 12:00am
Cocoa hits five-year high

Cocoa hits five-year high

London cocoa futures hit a five-year high on Tuesday, helped by a strong New York market and favourable currency fundamentals that made prices more attractive to overseas buyers, dealers said. Coffee ended down on profit-taking from recent 10-1/2 year hig
Published 13 Feb, 2008 12:00am
Copper remains higher

Copper remains higher

Copper prices climbed higher on Tuesday, gaining for a fifth straight day on falling inventories, ahead of the return of Chinese traders after a week-long break on Wednesday. Copper for delivery in three months on the London Metal Exchange, often seen as
Published 13 Feb, 2008 12:00am
London platinum sets lifetime high

London platinum sets lifetime high

Platinum hit a record high for the ninth straight trading day on Tuesday as concerns deepened over output losses in top producer South Africa due to a power crisis, analysts said.
Published 13 Feb, 2008 12:00am
US MIDDAY: cocoa at 24-year high

US MIDDAY: cocoa at 24-year high

US cocoa futures finished at a 24-year high early on Tuesday, after light fund buying triggered a flurry of buy stops, and on support from continued March/May spreads, traders said.
Published 13 Feb, 2008 12:00am
US MIDDAY: sugar stumbles

US MIDDAY: sugar stumbles

Raw sugar futures ended softer early on Tuesday in a session dominated by switch-linked liquidation as investors moved out of the front contract before its expiration at month's end, brokers said.
Published 13 Feb, 2008 12:00am
US MIDDAY: coffee rises

US MIDDAY: coffee rises

Arabica coffee futures closed quietly higher early on Tuesday, but below another 10-year high, on heavy position rolling out of the March contract into May, traders said. In open-outcry, the key ICE May arabica coffee contract settled 0.05 cent higher at
Published 13 Feb, 2008 12:00am
US MIDDAY: wheat tumbles

US MIDDAY: wheat tumbles

Wheat futures on the Chicago Board of Trade and the Kansas City Board of Trade fell sharply at midsession on Tuesday, setting back from contract highs set on Monday, with the KCBT May contract falling the 60-cent limit, traders said.
Published 13 Feb, 2008 12:00am
US MIDDAY: corn eases

US MIDDAY: corn eases

US corn futures were weak early on Tuesday amid follow-through technical pressure after the lower close on Monday, traders said. Some long-liquidation and profit-taking were weighing on the market and additional weight was stemming from a drop in most whe
Published 13 Feb, 2008 12:00am
US MIDDAY: soya futures dive

US MIDDAY: soya futures dive

US soyabean futures on the Chicago Board of Trade turned lower early on Tuesday, following the sell-off in wheat, traders said. Also weighing on the soya market was call option selling. March soyabeans were down 10-1/2 cents at $13.15-1/2 per bushel by 12
Published 13 Feb, 2008 12:00am
US MIDDAY: copper consolidates

US MIDDAY: copper consolidates

US copper futures drifted on either side of unchanged early on Tuesday, unable to gain traction in one direction or the other, as the market looked set to consolidate after its recent breakout to multi-month highs, analysts said.
Published 13 Feb, 2008 12:00am
US MIDDAY: gold falls

US MIDDAY: gold falls

The news of lower bullion demand from top consumer India due to near-record prices took a toll on sentiment of US gold futures early on Tuesday, but higher flight-to-quality and investment buying remained supportive to the futures market.
Published 13 Feb, 2008 12:00am
LHCBA to continue protest

LHCBA to continue protest

The Lahore High Court Bar Association has announced to continue protest unless deposed judges are not reinstated. The bar has also condemned police torture and announced that lawyers will continue boycotting courts till February 18.
Published 13 Feb, 2008 12:00am
Lawyers hunger strike camp today

Lawyers hunger strike camp today

The Punjab Bar Council has decided to hold a hunger strike camp on February 13 in its premises to demand deposed judges' and judiciary reinstatement. Office bearers, bar members, human and political activists and civil society members will also join.
Published 13 Feb, 2008 12:00am
Appointment of judges

Appointment of judges

In a very wise move, President Pervez Musharraf has accorded approval of the appointment of a number of new judges against the existing vacancies in Lahore High Court and Sindh High Court.
Published 13 Feb, 2008 12:00am
Peaceful atmosphere

Peaceful atmosphere

Quite obviously, maintenance of law and order is essentially the primary duty of the provincial governments of Punjab, Sindh, NWFP and Balochistan. In view of the coming general election, law and order has gained more importance.
Published 13 Feb, 2008 12:00am
Australia probes soaring food prices

Australia probes soaring food prices

Australia's government has taken aim at food prices as it targets rising inflation, launching a national inquiry to try to stem price rises close to double figures for some staple items.
Published 13 Feb, 2008 12:00am
Understanding the implications of Competition Ordinance - II

Understanding the implications of Competition Ordinance - II

Relevant Market: It was stated in GT-Link [1997] case "The definition of the market is of fundamental significance." Therefore, it is essential that we define a "relevant market" carefully for the purposes of Competition Laws.
Published 13 Feb, 2008 12:00am
The retreat that is welcome

The retreat that is welcome

It was long overdue but what finally clinched the decision by the army high command to withdraw its personnel from cushy jobs in civilian service was the appointment of a new army chief who rightly, and timely, concluded that his force must be depoliticiz
Published 13 Feb, 2008 12:00am
Linking price to quality

Linking price to quality

The government has decided in principle to link sugarcane price with the quality of the crop, and a consultative process in this regard will be started this week to fashion a policy framework that will serve as a yardstick in the coming years, says a R
Published 13 Feb, 2008 12:00am
Notices issued to ECP, Nadra, RO

Notices issued to ECP, Nadra, RO

A division bench of the High Court of Sindh (SHC) on Tuesday issued notice to the respondents, including Election Commission of Pakistan (ECP), Nadra and RO of NA-242, Karachi West for February 14 here on Tuesday.
Published 13 Feb, 2008 12:00am
NWFP provides level playing field to all candidates

NWFP provides level playing field to all candidates

Caretaker Chief Minister of NWFP Shams-ul-Mulk said on Tuesday that the government had provided level playing field to all political parties and individuals, contesting the February 18 general elections, saying that arrangements for the polls were up to t
Published 13 Feb, 2008 12:00am
Tough competition in NA-148 in Multan likely

Tough competition in NA-148 in Multan likely

The election campaign is getting momentum in the southern Punjab. The situation is changing day-by-day. The seat of NA-148 of Multan is a very important constituency because two top leaders of the leading parties are taking part.
Published 13 Feb, 2008 12:00am
Electioneering to end on 16th mid-night: ECP

Electioneering to end on 16th mid-night: ECP

The Election Commission of Pakistan (ECP) on Tuesday said that electioneering would come to an end at midnight on February 16. A press statement issued here said that according to Section 84 of the Representation of the People Act, 1976.
Published 13 Feb, 2008 12:00am
Election activities gain momentum in Hyderabad

Election activities gain momentum in Hyderabad

The electioneering for Elections-2008 among contesting candidates in Hyderabad region has gained full momentum and amidst cold breezes, the candidates and their supporters are busy in holding corner meetings for gaining their sympathies of voters in their
Published 13 Feb, 2008 12:00am
APDM leaders urge people to boycott polls

APDM leaders urge people to boycott polls

Jamaat-e-Islami Amir Qazi Hussein Ahmad has advised the political parties, participating in the polls, to join the drive of the movement and boycott the polls. He was addressing a public meeting, organised by All Parties Democratic Movement (APDM) at Foot
Published 13 Feb, 2008 12:00am
'PML-N only option to save country'

'PML-N only option to save country'

PML-N is the only available option to drag out Pakistan from the prevailing crisis, said Rao Kashif Raheem, a PML-N candidate from PP-60. In an interview with APP here on Tuesday, he said that ill-conceived policies of previous government had pushed the c
Published 13 Feb, 2008 12:00am
Shahbaz pledges to eliminate disparities from society

Shahbaz pledges to eliminate disparities from society

Pakistan Muslim League-Nawaz President, Mian Muhammad Shahbaz Sharif has said that PML-N after coming to power would provide social justice and eliminate all disparities from the society. Addressing a big public meeting here on Tuesday afternoon, Shahbaz
Published 13 Feb, 2008 12:00am
Sunni Tehrik candidates quit in PPP favour

Sunni Tehrik candidates quit in PPP favour

Two Sunni Tehrik candidates for NA-199, PS-4 and PS-1 pulled out of the race in favour of Pakistan People's Party candidates. Maulana Mohammad Mithal announced at a conference at the Press Club that he was withdrawing from the race in favour of PPP's Syed
Published 13 Feb, 2008 12:00am
Punjab University holds meeting on teachers evaluation

Punjab University holds meeting on teachers evaluation

Punjab University on Tuesday held a meeting on 'Teachers' Evaluation' to review different aspects of teaching necessary to upgrade the standards of university. Vice-Chancellor Punjab University, Dr Mujahid Kamran presided over the meeting held at the audi
Published 13 Feb, 2008 12:00am
'Lawyers struggle has taken a positive turn'

'Lawyers struggle has taken a positive turn'

Bushra Aitzaz, wife of Aitzaz Ahsan, President of Supreme Court Bar Association, has said that lawyers' struggle has taken a positive turn, but will carry on till the judiciary and judges' return. At a function arranged for her, she said that the lawyers'
Published 13 Feb, 2008 12:00am
Plan to develop inland water transport system along Indus River

Plan to develop inland water transport system along Indus River

Pakistan is planning to develop inland water transport system along the Indus River that would become part of National Trade Corridor Improvement Programme. Planning Commission Member, Infrastructure, Dr Asad Ali Shah said this in a meeting of NTC task fo
Published 13 Feb, 2008 12:00am
Pral employees may be regularised soon

Pral employees may be regularised soon

The Federal Board of Revenue (FBR) is likely to take up regularisation of several hundred employees working on contract basis, with the Pakistan Revenue Automation Limited (Pral).
Published 13 Feb, 2008 12:00am
Lawyers violating boycott decision to lose PBC, SCBA membership

Lawyers violating boycott decision to lose PBC, SCBA membership

The Pakistan Bar Council and the Supreme Court Bar Association have threatened to cancel license /membership of lawyers, who violate the decision to boycott all courts till February 18. The lawyers' national convention here on Saturday gave a call to lawy
Published 13 Feb, 2008 12:00am
DCOs told to maintain census funds account

DCOs told to maintain census funds account

The Population Census Organisation (PCO) has directed all the DCOs to properly maintain accounts of the expenditures and observe all necessary formalities according to the financial rules and regulations while utilising the census funds during the 6th Pop
Published 13 Feb, 2008 12:00am
124 percent rise in NetSol profit

124 percent rise in NetSol profit

The NetSol Technologies Ltd Pakistan (NetSol PK) has registered an increase of 124 percent in its net profit, while its revenue went up by 58 percent during first half of the financial year 2007-08.
Published 13 Feb, 2008 12:00am
124 percent rise in NetSol profit

124 percent rise in NetSol profit

The NetSol Technologies Ltd Pakistan (NetSol PK) has registered an increase of 124 percent in its net profit, while its revenue went up by 58 percent during first half of the financial year 2007-08.
Published 13 Feb, 2008 12:00am
Pesco recovers Rs 50.47 million from Hazara circle

Pesco recovers Rs 50.47 million from Hazara circle

The Peshawar Electricity Supply Company (Pesco) has recovered Rs 50.47 million from federal and provincial government departments in Hazara Circle, said a release of the company here on Tuesday.
Published 13 Feb, 2008 12:00am
Zardari provided with 320 men: home minister

Zardari provided with 320 men: home minister

Home Minister Brigadier Akhtar Zamin (Retd) said Tuesday that all leading political leaders, facing threats, had been provided security. "Only Asif Ali Zardari has been provided 160 men in Karachi and 160 men in Larkana to protect him," he said while spea
Published 13 Feb, 2008 12:00am
APIF, APSF ratings released

APIF, APSF ratings released

The Pakistan Credit Rating Agency Limited (Pacra) has released ratings for AMZ Plus Income fund (APIF) and AMZ Plus Stock Fund (APSF) managed by AMZ Asset Management Limited. APIF has been awarded the highest rating of '5-star' denoting the superior perfo
Published 13 Feb, 2008 12:00am
APIF, APSF ratings released

APIF, APSF ratings released

The Pakistan Credit Rating Agency Limited (Pacra) has released ratings for AMZ Plus Income fund (APIF) and AMZ Plus Stock Fund (APSF) managed by AMZ Asset Management Limited. APIF has been awarded the highest rating of '5-star' denoting the superior perfo
Published 13 Feb, 2008 12:00am
Political unrest hits mobile phones import

Political unrest hits mobile phones import

Political turbulence has dragged down import of mobile phones by 13.29 percent during the first half of the current fiscal year as compared to the corresponding period of last fiscal year, market sources said on Tuesday.
Published 13 Feb, 2008 12:00am
Unilever Pakistan calendar year 2007 profit rises to Rs 1.68 billion

Unilever Pakistan calendar year 2007 profit rises to Rs 1.68 billion

The profit after tax of Unilever Pakistan Limited has increased to Rs 1,687 million in the calendar year 2007 as compared to Rs 1,632 million in 2006. The company's earning per share surged to Rs 127 in the period under review against Rs 123 in a year bac
Published 13 Feb, 2008 12:00am
Unilever Pakistan calendar year 2007 profit rises to Rs 1.68 billion

Unilever Pakistan calendar year 2007 profit rises to Rs 1.68 billion

The profit after tax of Unilever Pakistan Limited has increased to Rs 1,687 million in the calendar year 2007 as compared to Rs 1,632 million in 2006. The company's earning per share surged to Rs 127 in the period under review against Rs 123 in a year bac
Published 13 Feb, 2008 12:00am
Four children injected expired drug in KPTH

Four children injected expired drug in KPTH

Lives of at least four children were exposed to a certain risk when the nursing staff in Karachi Port Trust Hospital (KPTH) carelessly injected expired medicine to them.
Published 13 Feb, 2008 12:00am
EU observer visits Nawabshah

EU observer visits Nawabshah

Lady Observer of European Union, Christina visited Nawabshah and met Asif Ali Zaradri's sister, who is a candidate for NA-213 on the ticket of PPPP. She collected information about the alleged clash between PML(Q) and PPPP workers in village Mir Khan Lagh
Published 13 Feb, 2008 12:00am
Election proceedings terminated in PF-92

Election proceedings terminated in PF-92

Election Commission of Pakistan has terminated the election proceedings in NWFP Provincial Assembly constituency PF-92 Upper Dir-II. Secretary Election Commission, Kanwar Muhammad Dilshad said, the concerned Returning Officer has terminated proceedings du
Published 13 Feb, 2008 12:00am
PIMS starts life support skills training to Motorway police

PIMS starts life support skills training to Motorway police

"Cognisant of the emergency situation and senseless actions of miscreants causing damage to human lives, we are concentrating on developing an emergency life support skills programme," said Executive Director of PIMS, Dr Abdul Majeed Rajput on Tuesday.
Published 13 Feb, 2008 12:00am
77-year-old Tariq gets PhD degree

77-year-old Tariq gets PhD degree

Dr Munir Ahmad Tariq has obtained PhD degree in vaccinology from the Department of Microbiology, University of Veterinary and Animal Sciences, Lahore at the age of 77 years. He completed his research work on the topic "Immunoprophylaxis of Foot and Mouth
Published 13 Feb, 2008 12:00am
Thai footwear company keen to invest in Pakistan

Thai footwear company keen to invest in Pakistan

The Commercial Counsellor Embassy of Pakistan in Bangkok Syed Zafar Ali Shah held a meeting with Tweepong Kmolvatanavit managing director of M/s Summit Footwear Co, Ltd, a Thai company that produces footwear under the brand Aerosoft in Thailand.
Published 13 Feb, 2008 12:00am
Aurat Foundation to launch book

Aurat Foundation to launch book

Aurat Foundation, an NGO, would launch a book titled, "Analysis of Party Manifestos from Gender Perspective" on Friday (February 15), here at a local hotel. Development practitioner and gender analyst, Naheed Aziz would share her critique of the Election
Published 13 Feb, 2008 12:00am
'Bachat Card Scheme to help extremely poor families'

'Bachat Card Scheme to help extremely poor families'

Managing Director Utility Stores Corporation (USC), Brigadier Hafeez Ahmed (Retd) said on Tuesday that 'Bachat Card Scheme' launched by the government intends to help 6.8 million extremely poor families of the country. Their data was obtained from the rel
Published 13 Feb, 2008 12:00am
The Weather

The Weather

The weather report on Tuesday (February 12,2008) and the forecast for Wednesday (February 13, 2008).
Published 13 Feb, 2008 12:00am
ANF recovers 86 kgs heroin

ANF recovers 86 kgs heroin

Anti-Narcotics Force (ANF) on Tuesday recovered huge consignment of 86 kgs of heroin from a car on Kohat road near Matani Bypass and arrested a notorious drug trafficker. On a tip off, that an inter-provincial smuggling gang will try to smuggle out huge q
Published 13 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 13 Feb, 2008 12:00am
44 outlaws held

44 outlaws held

During an anti-crime campaign in the Punjab metropolis Ravi Town division police have claimed arresting 44 criminals in a midnight operation and seized a cache of unlicensed arms.
Published 13 Feb, 2008 12:00am
Faisalabad transport strike brings life to a halt

Faisalabad transport strike brings life to a halt

The commuters faced great hardships in this industrial city on Tuesday due to sudden strike of public transport. According to details the strike call was given by Public City Transport Action Committee, Punjab, against exorbitant traffic fines which had r
Published 13 Feb, 2008 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (February 12,2008).

Published 13 Feb, 2008 12:00am
PPP AJK rejects Scotland Yard report

PPP AJK rejects Scotland Yard report

Chaudhry Zaheer Najam, Senior Vice-President of PPP AJK Chapter has expressed dissatisfaction over Scotland Yard team's probe into Benazir Bhutto murder case in a statement issued here on Tuesday, he said the probe by Scotland Yard team was aimed at a con
Published 13 Feb, 2008 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Tuesday (February 12,2008) and for Wednesday (February 13, 2008).
Published 13 Feb, 2008 12:00am
Mobilink unveils in-flight mobile phone service

Mobilink unveils in-flight mobile phone service

Mobilink has unveiled yet another landmark achievement by being the only operator in Pakistan to offer in-flight mobile phone service onboard international flights.
Published 13 Feb, 2008 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday February 11, 2008

Published 13 Feb, 2008 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday February 11, 2008

Published 13 Feb, 2008 12:00am
Patwari nabbed for taking bribe

Patwari nabbed for taking bribe

Anti-Corruption Establishment Punjab has arrested a Patwari of Halqa Gujrat city, Tehsil and district Gujrat, while taking Rs 5,000 as illegal gratification, and sent him to jail on judicial remand. Nabi Ahmad, a resident of Gujrat, lodged a complaint wit
Published 13 Feb, 2008 12:00am
EFU funds rates

EFU funds rates

EFU Life Assurance Ltd announced that the Offer and Bid prices for the following funds effective from Monday February 11, 2008

Published 13 Feb, 2008 12:00am
'Strong police force to be deputed at polling stations'

'Strong police force to be deputed at polling stations'

A large contingent of police force comprising 209,469 personnel, 40,400 from Janbaz and Mujahid forces, in addition to Pakistan Army and Rangers, will be deployed to ensure free, fair and impartial elections in a smooth and peaceful manner in the province
Published 13 Feb, 2008 12:00am
Non-compliant houses: Erra seeks UN help for assessment

Non-compliant houses: Erra seeks UN help for assessment

The Earthquake Reconstruction and Rehabilitation Authority (Erra) has sought assistance from the United Nations Human Settlements Programme (UN-Habitat) to carry out technical assessments of non-compliant houses in the earthquake affected region.
Published 13 Feb, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (February 12,2008).

Published 13 Feb, 2008 12:00am
Renovation of Minar-e-Pakistan's gardens completed

Renovation of Minar-e-Pakistan's gardens completed

Lahore district government is planning to divert traffic from the Circular Road between Badshai Mosque and Minar-e-Pakistan and intended to build a public park at the place. Nazim City District Government of Lahore (CDGL), Nazim Mian Amar Mahmood, talking
Published 13 Feb, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (February 12,2008).

Published 13 Feb, 2008 12:00am
USC management accused of profiteering

USC management accused of profiteering

President Citizens Rights Association (CRA) Chaudhry Nasir Ahmad has accused the management of Utility Stores of profiteering and urged the government to take serious measure in this regard to control the situation.
Published 13 Feb, 2008 12:00am
Kayani's decision welcomed

Kayani's decision welcomed

Welcoming the decision of Chief of Army Staff, General Ashfaq Parvez Kayani, Central Senior Vice President of PML-N, Makhdoom Javed Hashmi has said that COAS should remove ex-servicemen serving in different departments. "I am confident that removal of in-
Published 13 Feb, 2008 12:00am
Democracy a must to save Pakistan: Zardari

Democracy a must to save Pakistan: Zardari

Pakistan People's Party co-chairman, Asif Ali Zardari on Tuesday warned that Pakistan would be in danger if the general elections scheduled for February 18 are rigged. Addressing a largely attended news conference here at Bilawal House soon after his arri
Published 13 Feb, 2008 12:00am
THE RUPEE: dollar gains 10 paisa more

THE RUPEE: dollar gains 10 paisa more

The rupee did not fluctuate sharply against dollar in the interbank market on Tuesday for buying and selling at 62.91 and 62.94, while it was lower by 10 paisa both for buying and selling, dealers said.
Published 13 Feb, 2008 12:00am
UBL selects SunGard for banking and customer service management

UBL selects SunGard for banking and customer service management

UBL, one of Pakistan's largest private commercial banks, has chosen SunGard's System Access solution to help it centralise its core banking operations. UBL has more than 1,060 branches in Pakistan, as well as international operations across the Middle Eas
Published 13 Feb, 2008 12:00am
THE RUPEE: dollar gains 10 paisa more

THE RUPEE: dollar gains 10 paisa more

The rupee did not fluctuate sharply against dollar in the interbank market on Tuesday for buying and selling at 62.91 and 62.94, while it was lower by 10 paisa both for buying and selling, dealers said.
Published 13 Feb, 2008 12:00am
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