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Apr 15, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-04-30
GEF and ADB to support Asia's Coral Triangle preservation

GEF and ADB to support Asia's Coral Triangle preservation

The Global Environment Facility (GEF) and the Asian Development Bank (ADB) are joining hands to support the preservation of Asia's Coral Triangle, with the GEF committing US $63 million to fund conservation of this area known as 'the Amazon of the seas'.
Published 30 Apr, 2008 12:00am
FOB Gulf soya weaker

FOB Gulf soya weaker

US FOB Gulf soyabean basis offers were lower on Monday amid signs that export demand will remain weak and Argentine farmers will remain at the bargaining table rather than resume their strike, traders said. Three locks on the upper Mississippi River have
Published 30 Apr, 2008 12:00am
PPP-MQM power sharing formula yet to be finalised: Nafees

PPP-MQM power sharing formula yet to be finalised: Nafees

General Secretary Pakistan Peoples Party (PPP) Sindh Nafees Siddiqui has said that power sharing formula with Muttahida Quami Movement (MQM) has not yet been finalised. However, he added, negotiations are going on.
Published 30 Apr, 2008 12:00am
Weak UK economic data bolster rate cut bets

Weak UK economic data bolster rate cut bets

Approvals for new home loans in Britain fell to their lowest level on record in March pointing to more housing market gloom while retailers reported a slide in high-street sales in April, data showed on Tuesday.
Published 30 Apr, 2008 12:00am
ANP and PPP activists among seven killed in various incidents

ANP and PPP activists among seven killed in various incidents

Seven people including an activist of Pakistan People's Party and Awami National Party were killed in the city here on Tuesday in different incidents. A trader was killed dramatically by two unknown gunmen at Baloch Colony area.
Published 30 Apr, 2008 12:00am
New parliament can make changes in NFC award: Dar

New parliament can make changes in NFC award: Dar

The government has said that the new parliament can make changes to a 'controversial' National Finance Commission (NFC) award which President Pervez Musharraf announced two years ago but does not exhibit an urge for that ahead of next budget due in June.
Published 30 Apr, 2008 12:00am
US woes, inflation may hit Philippines budget: Arroyo

US woes, inflation may hit Philippines budget: Arroyo

The US slowdown and soaring food and energy prices were likely to hit the Philippine's bid for a balanced budget in 2008, President Gloria Arroyo conceded for the first time Tuesday.
Published 30 Apr, 2008 12:00am
Businessmen invited to invest in Dominican Republic

Businessmen invited to invest in Dominican Republic

Ambassador of the Dominican Republic to India Hans Dannenberg Castellanos has invited Pakistan business community to visit Dominican Republic to see business and investment opportunities in that country. Speaking at a meeting of Karachi Chamber of Commerc
Published 30 Apr, 2008 12:00am
General Motors to cut truck production, negotiate union layoffs

General Motors to cut truck production, negotiate union layoffs

General Motors Corp said on Monday it would cut truck production at four North American plants in the coming quarter because of weaker demand for its full-size pickup trucks and sport utility vehicles. GM said it would eliminate one shift of planned produ
Published 30 Apr, 2008 12:00am
UNDP's assistance in tackling environmental issues

UNDP's assistance in tackling environmental issues

Pakistan in collaboration with United Nation Development Programme (UNDP) has executed 'Protection and Management of Pakistan Wetland Project' costing 11,792,000 dollars and 'Mountain Area Conservancy Project' (MACP) costing 10,350,000 dollars.
Published 30 Apr, 2008 12:00am
British Airways to increase fuel surcharge for plane tickets

British Airways to increase fuel surcharge for plane tickets

British Airways said Tuesday it would hike its fuel surcharge on long-haul and short-haul airfares due to soaring oil prices that increase the cost of kerosene or jet fuel. The price of New York's light, sweet crude oil had struck a record high 119.93 dol
Published 30 Apr, 2008 12:00am
Senate being ignored by political parties: Pirzada

Senate being ignored by political parties: Pirzada

"Nothing will happen", said Senator Latif Khosa, advocate, in response to a query of senior lawyer Abdul Hafeez Pirzada regarding government's efforts to keep the constitution intact. Khosa said this in Supreme Court here on Tuesday during the hearing of
Published 30 Apr, 2008 12:00am
Market crisis tips Deutsche Bank into red

Market crisis tips Deutsche Bank into red

Deutsche Bank AG suffered its first quarterly loss in five years as global financial turmoil heaped more than $4 billion in writedowns on the bank and market ructions put a brake on earnings.
Published 30 Apr, 2008 12:00am
Hangu SHO suspended

Hangu SHO suspended

North West Frontier Province (NWFP) IGP Malik Naveed Khan, while taking strong notice of the Hangu incident, has removed SHO Hangu from his post and constituted a joint high-level inquiry team to probe into the matter and fix responsibilities.
Published 30 Apr, 2008 12:00am
Ahmadinejad launches Sri Lanka refinery upgrade

Ahmadinejad launches Sri Lanka refinery upgrade

Iranian President Mahmoud Ahmadinejad launched a project to boost the capacity of Sri Lanka's main oil refinery on Tuesday, part of a $1.5 billion loan to the government as Iran extends its energy ties in South Asia.
Published 30 Apr, 2008 12:00am
CoAS confers awards on officers

CoAS confers awards on officers

The special investiture ceremony of General Headquarters was held at the Army Auditorium to confer awards of "Tamgha-i-Jurrat" and Tamgha-i-Basalat to the officers and Next of Kin of Shaheed Officers, Junior Commissioned Officers and Jawans. Chief of Army
Published 30 Apr, 2008 12:00am
Anti-corruption watchdog criticises energy giants

Anti-corruption watchdog criticises energy giants

Many oil and gas companies fail to fully disclose their profits or fees they pay to governments for extraction rights, leaving the door open to corruption, Transparency International has said. The anti-corruption watchdog said its latest report showed US
Published 30 Apr, 2008 12:00am
MoU signed for academic cooperation

MoU signed for academic cooperation

The International Islamic University (IIU) has signed a Memorandum of Understanding (MoU) with the University of Wales Newport, United Kingdom, for extending academic cooperation between the two universities.
Published 30 Apr, 2008 12:00am
Paulson says no interest in second stimulus plan

Paulson says no interest in second stimulus plan

US Treasury Secretary Henry Paulson said on Monday that he was focused on getting economic stimulus payments to consumers quickly to boost the economy and had no interest in a second stimulus plan.
Published 30 Apr, 2008 12:00am
AIOU announces exams schedule

AIOU announces exams schedule

The Allama Iqbal Open University (AIOU) has announced the exam schedule for Autumn Semester 2007, which will start from May 15. Dispatch of roll number slips to the students of PTC, CT, ATTC and B-Ed programmes are in progress, Controller of Exams AIOU sa
Published 30 Apr, 2008 12:00am
Deutsche suffers first quarter loss

Deutsche suffers first quarter loss

Deutsche Bank suffered its first quarterly loss in five years on Tuesday as global financial turmoil heaped 2.7 billion euros ($4.2 billion) in writedowns on Germany's biggest listed bank. Chief Executive Josef Ackermann shied away from restating his annu
Published 30 Apr, 2008 12:00am
Inter College, University Software Exhibition starts

Inter College, University Software Exhibition starts

The 7th All Pakistan Inter College/University Software Exhibition and Competition (COMPPEC 2008) was inaugurated here by Dr Noor Muhammad Butt, Chairman Pakistan Science Foundation, says a press release.
Published 30 Apr, 2008 12:00am
Deutsche suffers first quarter loss

Deutsche suffers first quarter loss

Deutsche Bank suffered its first quarterly loss in five years on Tuesday as global financial turmoil heaped 2.7 billion euros ($4.2 billion) in writedowns on Germany's biggest listed bank. Chief Executive Josef Ackermann shied away from restating his annu
Published 30 Apr, 2008 12:00am
SETC celebrates 28th anniversary

SETC celebrates 28th anniversary

A colourful and impressive function was held to mark the 28th anniversary of Special Education and Training Centre (SETC) for mentally and emotionally handicapped children here on Tuesday. Begum Qazi Humayun Farid, wife of the Consul General Bangladesh fo
Published 30 Apr, 2008 12:00am
South Korea downbeat on economy for 2008-2009

South Korea downbeat on economy for 2008-2009

South Korea's economy will remain weak until next year but will recover momentum afterwards when the government's growth-oriented policy starts to take effect, a deputy finance minister said on Tuesday.
Published 30 Apr, 2008 12:00am
Plan to compile data of destitute children in Punjab

Plan to compile data of destitute children in Punjab

Punjab government has decided to carry out a comprehensive survey for compiling complete data of child beggars, destitute and street children in each district of the Punjab. Official sources told Business Recorder here on Tuesday that the governmen
Published 30 Apr, 2008 12:00am
Merkel warns against too close energy ties with Iran

Merkel warns against too close energy ties with Iran

German Chancellor Angela Merkel said Tuesday she was "sceptical" about countries forming energy and trading ties with Iran which could end up making them count too much on Tehran. "I am sceptical about too much dependency vis-a-vis Iran," she told journal
Published 30 Apr, 2008 12:00am
Navy to be strengthened to meet security challenges: Prime Minister

Navy to be strengthened to meet security challenges: Prime Minister

Prime Minister Syed Yusuf Raza Gilani said on Tuesday the government would strengthen Pakistan Navy to make it an effective force capable of meeting security challenges. During his visit to Naval Headquarters, the Prime Minister said he fully realised the
Published 30 Apr, 2008 12:00am
New York cotton

New York cotton

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

Published 30 Apr, 2008 12:00am
Business delegation participates in WIEF

Business delegation participates in WIEF

A 32-member high level business delegation led by Tariq Sayed, President Saarc Chamber of Commerce and Industry, is attending fourth World Islamic Economic Forum (WIEF), which commenced on April 29 in Kuwait.
Published 30 Apr, 2008 12:00am
New York cotton

New York cotton

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

Published 30 Apr, 2008 12:00am
Arms recovered

Arms recovered

Security forces recovered arms from a house in a raid conducted in Zhar Karez refugee camp during the wee hours of Tuesday morning, officials said. Raid was conducted on a tip-off. The security forces recovered two hand grenades, two rocket shells, 200 ro
Published 30 Apr, 2008 12:00am
Hussain appointed BoP acting president

Hussain appointed BoP acting president

The Bank of Punjab (BoP) board of directors has appointed General Manager (SME Products) Sajjad Hussain its acting president. Hussain is a seasoned banker and has been in the bank since 1993. He served in the capacity of regional head, chief manager, in-c
Published 30 Apr, 2008 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 30 Apr, 2008 12:00am
High-tension wires tied to trees

High-tension wires tied to trees

For lack of an electric pole, Mepco Liaqatpur staffers have tied high-tension electricity wires with a tree. Due to the fact that electric poles are few and far apart between Bhatti Chowk and Liaqatpur, 11000LV power wires which were hanging low and loose
Published 30 Apr, 2008 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 30 Apr, 2008 12:00am
Pakistani entrepreneurs urged to avail vast Czech trade opportunities

Pakistani entrepreneurs urged to avail vast Czech trade opportunities

The Czech Republic has huge business opportunities for potential Pakistani businessmen in the power, textile, pharmaceutical, leather and construction sectors and Czech businessmen are ready to initiate joint ventures with their Pakistani counterparts for
Published 30 Apr, 2008 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (April 29, 2008).

Published 30 Apr, 2008 12:00am
'Nation waiting for judges' reinstatement'

'Nation waiting for judges' reinstatement'

Pakistan Muslim League-Nawaz (PML-N), Secretary General for International Affairs Committee, Sheikh Kaiser Mahmood has said that decisions on all national issues will be taken in the parliament. Speaking at a meeting on Tuesday, he said that after release
Published 30 Apr, 2008 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Tuesday (April 29, 2008).

Published 30 Apr, 2008 12:00am
Judges restoration: 'constitutional amendment required'

Judges restoration: 'constitutional amendment required'

Pakistan People's Party member of National Assembly, Sardar Asif Ahmed Ali has said that the restoration of judges will be impossible with the resolution, it needs a constitutional amendment. In his speech in an inauguration ceremony of paintings by India
Published 30 Apr, 2008 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (April 29, 2008).

Published 30 Apr, 2008 12:00am
'Third party mediation to help resolve Kashmir problem'

'Third party mediation to help resolve Kashmir problem'

Former AJK Prime Minister and President, Jammu and Kashmir, People's Muslim League, Barrister Sultan Mahmood on Tuesday said that mediation of a third party is necessary to resolve Kashmir issue and European Union, in this regardm, can play an ineffective
Published 30 Apr, 2008 12:00am
Wapda officials asked to ensure early completion of hydropower projects

Wapda officials asked to ensure early completion of hydropower projects

Water and Power Development Authority (Wapda) Chairman Shakil Durrani has directed the project authorities to ensure completion of the hydropower projects as per schedule. He expressed these views while presiding over a meeting at Wapda House to review th
Published 30 Apr, 2008 12:00am
D G Khan uplift plan termed an eyewash

D G Khan uplift plan termed an eyewash

Pakistan Muslim League-Q leaders Chaudhry Zaheeruddin Khan, Mohsin Leghari and Aleem Shah have termed the announcement of development plan for DG Khan by the chief minister Sardar Dost Mohammad Khosa an eyewash.
Published 30 Apr, 2008 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Tuesday (April 29, 2008).

Published 30 Apr, 2008 12:00am
Dar praises M Akram Malik's services

Dar praises M Akram Malik's services

Senator Muhammad Ishaq Dar, Minister for Finance and Economic Affairs praised services rendered by M Akram Malik, Secretary Economic Affairs Division (EAD), who is to retire on April 30. During a farewell call, Senator Dar recalled his services to the Gov
Published 30 Apr, 2008 12:00am
Two months relaxation for prisoners to cut overcrowding in jails

Two months relaxation for prisoners to cut overcrowding in jails

Two months relaxation in prison for prisoners involved in small crimes in the Punjab will reduce overcrowded 32 jails having 59,000 prisoners against the total capacity of 21,000. Punjab Minister for Jails Chaudhry Abdul Ghafoor told a press conference at
Published 30 Apr, 2008 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (April 29, 2008).
Published 30 Apr, 2008 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (April 29, 2008).

Published 30 Apr, 2008 12:00am
Petition disposed

Petition disposed

The Lahore High Court (LHC) on Tuesday disposed of the petition pertaining to recovery of Dr Shazia and her two minors, when SP, finally, produced the passport and other necessary documents with ornaments before the court and handed over to Dr Shazia.
Published 30 Apr, 2008 12:00am
Petition rejected

Petition rejected

The Lahore High Court (LHC) has rejected a petition by a news agency editor-in-chief arguing against a decision by a labour court considering termination of Lahore bureau chief as illegal and without lawful authority. Lahore bureau chief Ahmed Bilal Amir
Published 30 Apr, 2008 12:00am
Tusdec and BSF to join hands for promotion of SMEs

Tusdec and BSF to join hands for promotion of SMEs

The Technology Upgradation and Skill Development Company (Tusdec) and the Asian Development Bank-funded Business Support Fund (BSF) will join hands for the promotion of SME sector in the country. This was decided at a meeting between the BSF Chief Executi
Published 30 Apr, 2008 12:00am
Australian team meets Kaira

Australian team meets Kaira

The Federal Minister for Information Technology and Telecommunications, Qamar Zaman Kaira met the delegation of Progressive International Pvt Ltd, a potential Australian investment company. The delegation comprised John Kirkwood, GM, Ali Obaid, Managing D
Published 30 Apr, 2008 12:00am
Mortgage deeds: ICT reduces stamp duty, registration fee

Mortgage deeds: ICT reduces stamp duty, registration fee

The Islamabad Capital Territory (ICT) Administration on the directives of Wafaqi Mohtasib, has reduced the stamp duty and registration fee on mortgage deeds by 75 per cent from one per cent to 0.25 per cent. The decision was taken by the ICT administratio
Published 30 Apr, 2008 12:00am
Minister resolves power loom workers, owners dispute

Minister resolves power loom workers, owners dispute

On the intervention of Punjab Minister for Labour and Human Resources Muhammad Ashraf Khan Sohna, the dispute between power looms owners and workers of Dhudiwala-Jaranwala Road has been settled.
Published 30 Apr, 2008 12:00am
63 inspectors of income tax department promoted

63 inspectors of income tax department promoted

The Federal Board of Revenue (FBR) has promoted 63 inspectors of income tax department from BS-11-14 to BS-16 as income tax officers and posted at different regional tax offices (RTOs). According to a notification issued on Tuesday, the newly promoted inc
Published 30 Apr, 2008 12:00am
Hurdles in judges' restoration to be removed: Rana

Hurdles in judges' restoration to be removed: Rana

Federal Minister for Defence Production, Rana Tanveer Hussain has said that political leadership and nation are with deposed judges and all hurdles in reinstatement of judges and independence of judiciary would be removed. Speaking at a function here on T
Published 30 Apr, 2008 12:00am
Watercourses' construction work reviewed

Watercourses' construction work reviewed

The District Co-ordination Officer (DCO), Larkana, Abdul Aziz Uaqaili, has urged the field officers of National Programme for Improvement of Watercourses (NPIW) in the district to redouble their efforts for completing their work on watercourses. He said t
Published 30 Apr, 2008 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (April 29, 2008).

Published 30 Apr, 2008 12:00am
Model traffic policing by June 2008: SSP

Model traffic policing by June 2008: SSP

Model traffic policing will be introduced here by June 2008 to streamline traffic system especially during peak hours and inject more latest vehicles in the traffic police, said SSP Traffic Peshawar Jafer Khan.
Published 30 Apr, 2008 12:00am
High-level South African commercial team due soon

High-level South African commercial team due soon

A high-level commercial delegation from South Africa would be visiting Pakistan. According to a press release, the purpose of the visit is to explore investment opportunities in Pakistan and sign a MoU with a Pakistani firm.
Published 30 Apr, 2008 12:00am
'Schemes to provide houses to low-income people soon'

'Schemes to provide houses to low-income people soon'

Provincial Minister for Works and Services, Manzoor Hussain Wassan has said that the present government attaches high priority to the development of Sindh. He was talking to a delegation of Soomro Community from Khairpur district, which called on him at h
Published 30 Apr, 2008 12:00am
Hoti says he won't allow derailing peace process

Hoti says he won't allow derailing peace process

NWFP Chief Minister Ameer Haider Khan Hoti said on Tuesday that the government would not allow to derail the peace initiative in the province, saying that a broad-based Jirga would be formed to negotiate peace with the local militants.
Published 30 Apr, 2008 12:00am
Food items become costlier

Food items become costlier

Wheat hoarding and smuggling that has already wreaked havoc and created flour shortage has eventually pushed up the price of Roti, which is now selling at Rs 5. When this scribe contacted the Price Control Committee, the Nazim and District Coordination Of
Published 30 Apr, 2008 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (April 29, 2008).

Published 30 Apr, 2008 12:00am
Parliament entitled to do 'Ijtehad': Babar Awan

Parliament entitled to do 'Ijtehad': Babar Awan

Pakistan People's Party (PPP) Senator Dr Babar Awan has said that Parliament is an institution which is entitled to do 'Ijtehad'. Speaking as chief guest at a lecture on 'Supreme Constitutional Code of Egypt and Islamic Law', at Council of Islamic Ideolog
Published 30 Apr, 2008 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (April 29, 2008).

Published 30 Apr, 2008 12:00am
Amrohvi appointed advisor

Amrohvi appointed advisor

The government on Tuesday appointed a Pakistan People's Party (PPP) senior leader, Izhar Amrohvi, as advisor to the parliamentary affair division of the law ministry. Amrohvi, who served on the same position in PPP previous stints in power, will be enjoyi
Published 30 Apr, 2008 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (April 29, 2008).

Published 30 Apr, 2008 12:00am
Death of Nizam Shamsi's mother condoled

Death of Nizam Shamsi's mother condoled

Zonal In-charge Muttahida Qaumi Movement (MQM) Hyderabad Muhammad Sharif and members of zonal committee have expressed grief and sorrows over the death of the mother of Nizam Shamsi, member Legal Aid Committee MQM. In their joint condolence message they p
Published 30 Apr, 2008 12:00am
Forecast of gloomy days

Forecast of gloomy days

Speaking before the Senate Standing Committee on Finance and Revenue, Finance Minister Ishaq Dar was utterly forthright and to the point. He felt no hesitation in saying that there would be more increases in the prices of petroleum products before the nex
Published 30 Apr, 2008 12:00am
Boucher's cautious optimism

Boucher's cautious optimism

After initial reluctance, the United States appears to be accepting the logic of talking to rebellious tribesmen in Pakistan's restive north-west. This is a significant shift in the policy Bush administration had pursued so far, particularly if one had ke
Published 30 Apr, 2008 12:00am
Why development banks?

Why development banks?

Pakistan's total external debt is steadily increasing, notwithstanding the Paris Club debt cancellation, bi-lateral aid agencies' debt swap arrangements, and record-high remittances flows. The total external debt was at $38.864 billion on March 31, 2007,
Published 30 Apr, 2008 12:00am
NJLI Meesaq Fund Rates

NJLI Meesaq Fund Rates

New Jubilee Life Insurance Meesaq Fund Rates on Tuesday (April 29, 2008).

Published 30 Apr, 2008 12:00am
GOOD MORNING: a cry from the sinking ship

GOOD MORNING: a cry from the sinking ship

At the back of my mind, as I write this column on Tuesday evening is a disturbing thought about the countdown for the restoration of the judiciary to its 2nd November 2007 status and what lies ahead. One option is to take a cynical view. To presume that t
Published 30 Apr, 2008 12:00am
NJLI Meesaq Fund Rates

NJLI Meesaq Fund Rates

New Jubilee Life Insurance Meesaq Fund Rates on Tuesday (April 29, 2008).

Published 30 Apr, 2008 12:00am
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