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May 13, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-05-07
Soaring building material prices halt projects

Soaring building material prices halt projects

The abnormal increase in the prices of building material has adversely affected completion of the development projects and other construction work in the country. Due to stoppage of construction work to a great extent, thousands of labourers and workers a
Published 07 May, 2008 12:00am
More family welfare centres to be set up

More family welfare centres to be set up

Ministry of Population Welfare is taking concrete steps to establish more family welfare centres and reproductive health services centres to provide maximum population welfare facilities to masses. It was disclosed by a press release issued here on Tuesda
Published 07 May, 2008 12:00am
Next academic year to start from April 1, 2009: Khosa

Next academic year to start from April 1, 2009: Khosa

Punjab Chief Minister Sardar Dost Muhammad Khosa has said the government has decided to start next academic year from April 01, 2009. He disclosed this while talking to lawyers in the bar room at district courts here on Tuesday. Bar President Malik Saleem
Published 07 May, 2008 12:00am
PSF holds protest demonstration

PSF holds protest demonstration

The members of Peoples Students Federation (PSF) held a protest demonstration in Zakariya University and boycotted their classes on Tuesday morning. According to the details, the students of PSF wanted to meet Syed Yousaf Raza Gilani on his recent visit t
Published 07 May, 2008 12:00am
PUEHS meeting

PUEHS meeting

General Body meeting of Punjab University Employees Housing Society (PUEHS) was held here at Environmental Law Centre, new campus on Tuesday. Society's new president, Professor Dr Saeed Ahmad Nagra presided over the meeting. Former President Professor Dr
Published 07 May, 2008 12:00am
The Weather

The Weather

The weather report on Tuesday (May 06, 2008) and the forecast for Wednesday (May 07, 2008).
Published 07 May, 2008 12:00am
Anti-polio campaign starts

Anti-polio campaign starts

Director General Health Punjab Dr Muhammad Aslam Chaudhry inaugurated the three-day National Immunisation Campaign against polio here on Tuesday at Children's Hospital by administering polio vaccine drops to the children. Dean of Children's Hospital, Dr T
Published 07 May, 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 May, 2008 12:00am
Nine people die of heatstroke

Nine people die of heatstroke

Nine people died of heatstroke in Southern Punjab as the temperature continues to rise in the province. Health authorities have confirmed the death of nine people including two women. The deaths were identified as Abdul Majid, Gulzar Ahmed, Mrs Imam Bakhs
Published 07 May, 2008 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (May 06, 2008).

Published 07 May, 2008 12:00am
US team calls on Nisar

US team calls on Nisar

A three-member US delegation comprising of Former Deputy Assistant Secretary, Johan A Gastright, Burean of South Asian Affairs, Kara L Bue, Deputy Assistant Secretary for Regional Stability called on Senior Federal Minister, Chaudhry Nisar Ali Khan here o
Published 07 May, 2008 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Tuesday (May 06, 2008) and for Wednesday (May 07, 2008).
Published 07 May, 2008 12:00am
Science and technology vital to progress, prosperity: Gilani

Science and technology vital to progress, prosperity: Gilani

Prime Minister Syed Yousuf Raza Gilani has said that unanimity of views and people to people contacts between Pakistan and Yemen have facilitated to strengthen the bilateral relations. He expressed the confidence that the meeting of the 5th joint commissi
Published 07 May, 2008 12:00am
Country likely to face worst power crisis

Country likely to face worst power crisis

Pakistan is likely to face the worst power shortage of around 5000 MW during next two to three months as the demand and supply gap will widen further with rising temperatures, sources told Business Recorder.
Published 07 May, 2008 12:00am
Pakistan expresses sympathies over loss of life in Myanmar

Pakistan expresses sympathies over loss of life in Myanmar

Foreign Minister Shah Mahmoud Quraishi has expressed heart felt sympathies on behalf of the people and government of Pakistan on the tragic loss of life and property caused by devastating cyclone in Myanmar.
Published 07 May, 2008 12:00am
Apma calls for reinstating 173 health workers

Apma calls for reinstating 173 health workers

The All Pakistan Minorities Alliance (APMA) has demanded of the government to reinstate 173 sacked health workers of Gulshan-e-Iqbal Town and eliminate discriminative laws immediately. Addressing a protest rally at the Karachi Press Club on Tuesday, Sindh
Published 07 May, 2008 12:00am
Seminar on Japanese management style held

Seminar on Japanese management style held

A seminar on 'Japanese Style of Management' was held at Defence Authority College of Business here on Monday. Professor Toshio Fujita was the keynote speaker on the occasion. He in his discourse traced the origin of the Japanese management system in light
Published 07 May, 2008 12:00am
Distributors demand LPG price at Rs 25,000 a ton

Distributors demand LPG price at Rs 25,000 a ton

LPG Distributors Association Pakistan chairman and FPCCI Standing Committee for Petroleum and Gas senior vice chairman Abdul Hadi Khan said on Tuesday that after rising trend of petroleum gas from Iran that has reduced LPG sale in the local market by 60 p
Published 07 May, 2008 12:00am
IG Sindh reviews progress of e-policing project

IG Sindh reviews progress of e-policing project

Inspector General Police Sindh, Shoaib Suddle has said that e-policing project can bring the Police Department in conformity with the demands of 21st century and play a significant role in improving the police performance. He was chairing a meeting held a
Published 07 May, 2008 12:00am
Six killed in different incidents

Six killed in different incidents

At least eight people were killed in different incidents in the city on Tuesday, police sources told Business Recorder. A ten-year-old boy, Faheem s/o Qasim fell into an open sewerage manhole in the jurisdiction of Haideri Police Station. The body
Published 07 May, 2008 12:00am
High oil prices to push up shipping freight rates

High oil prices to push up shipping freight rates

Experts are eyeing "revival" of shipping freights rates as the ship bunker prices have shot up to $120 per ton, registering a 100 percent increase in last one year in wake of the record increase in oil prices in international market.
Published 07 May, 2008 12:00am
MSPIDA elects office-bearers

MSPIDA elects office-bearers

M Rehan Hanif, Noor Ali Bhojani, M Rafiq Mansoori and Naveed Ajaz have been elected unopposed as chairman, senior vice chairman, vice chairman and joint secretary of Motorcycle Spare Parts Imports and Dealers Group (MSPIDA) for the year 2008-09 respective
Published 07 May, 2008 12:00am
Wind-based power generation project in the doldrums

Wind-based power generation project in the doldrums

The work on 18-MW capacity wind-based power generation plant at Gharo, the first of its kind in the country, has not been initiated so far, Business Recorder learnt here on Tuesday.
Published 07 May, 2008 12:00am
Furniture traders call for strike on Friday

Furniture traders call for strike on Friday

Furniture traders on Tuesday called for a shutter down strike on Friday, May 9, in protest against the government for not arresting the murderers of a trader, Saleem Anwar Shaikh. Chairman of Karachi Furniture Dealers Group (KFDG), Muhammad Atiq Mir, said
Published 07 May, 2008 12:00am
Abad chief meets CCOB KBCA

Abad chief meets CCOB KBCA

Chief Controller, Karachi Building Control Authority (KBCA), Manzoor Kadir has said that construction industry earns greater importance and in this connection positive steps will continue to be taken for its promotion. He made these observations while tal
Published 07 May, 2008 12:00am
Seminar held to observe Bishop John's death anniversary

Seminar held to observe Bishop John's death anniversary

The National Commission for Justice and Peace (NCJP) in collaboration with Association of NGOs for Sharing Resources and Activities (ANSRA) organised a seminar on the 10th Death Anniversary of Bishop John Joseph, which was attended by 80 participants from
Published 07 May, 2008 12:00am
Government to bring white revolution: Prime Minister

Government to bring white revolution: Prime Minister

Prime Minister Syed Yousuf Raza Gilani on Tuesday said the government would provide all necessary resources to bring about a white revolution in the country. Pakistan is an agricultural country and government is committed to enhance the production of dair
Published 07 May, 2008 12:00am
NCCW decides to discourage commercial export of wildlife

NCCW decides to discourage commercial export of wildlife

The registration fee for commercial export and import of wildlife species has been increased to Rs 40,000 from Rs 10,000, to discourage the commercial export of wildlife and to save the heritage species, Business Recorder learnt on Tuesday.
Published 07 May, 2008 12:00am
Rs 1.4 billion Marghazar Zoo up-gradation to be completed in three years

Rs 1.4 billion Marghazar Zoo up-gradation to be completed in three years

The expansion and development of Marghazar Zoo costing Rs 1.4 billion will be completed in three years. The project will be started in the first week of June 2008. This was announced at a public hearing, organised by the Pakistan Environmental Agency (Pak
Published 07 May, 2008 12:00am
AGP terms appointment of OGDCL's EDHR irregular

AGP terms appointment of OGDCL's EDHR irregular

The Auditor General of Pakistan (AGP) has termed the appointment of Executive Director (ED) Human Resources, Oil and Gas Development Company Limited (OGDCL) as irregular and sought explanation from the management for hiring a person of lesser qualificatio
Published 07 May, 2008 12:00am
Ministries told to prioritise schemes for 2008-09 PSDP

Ministries told to prioritise schemes for 2008-09 PSDP

The Planning Commission (PC) has informed all ministries that the development projects may face resource constraints in the 2008-09 development budget, and has advised them to prioritise their schemes in line with the priorities set by the new government.
Published 07 May, 2008 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Tuesday (May 06, 2008).

Published 07 May, 2008 12:00am
IIU to organise number of cultural events

IIU to organise number of cultural events

Islamic International University (IIU) has organised a number of cultural events, beginning next Thursday. The most prestigious among them is a two-day photo exhibition relating to "Sacred Trusts: collection of Holy Relics like the Holy Mantle, the seal,
Published 07 May, 2008 12:00am
PAL remembers Sheikh Ayaz with great enthusiasm

PAL remembers Sheikh Ayaz with great enthusiasm

Pakistan Academy of Letters (PAL) celebrated Sheikh Ayaz, and his poetry, at a national literary conference organised jointly by Pakistan Academy of Letters and the Shah Latif Cultural Organisation, here on Tuesday. Shaikh Ayaz (1923-1997), was one of the
Published 07 May, 2008 12:00am
Lecture on 'Iqbal and concept of democracy' held

Lecture on 'Iqbal and concept of democracy' held

The Majlis-e-Sufi Tubassam, the Government College University (GCU), Lahore, on Tuesday organised a lecture titled 'Iqbal and concept of democracy.' Head of the Iqbaliyat Department, Oriental College of Punjab University, Professor Dr Syed Muhammad Akram
Published 07 May, 2008 12:00am
THE RUPEE: highly volatile session before intervention

THE RUPEE: highly volatile session before intervention

Panic buying of dollars by importers caused dearth of the US currency. Amid volatile session dollar touched the new high at 66.78, resulting in the State Bank of Pakistan's (SBP) intervention in the interbank market on Monday to rescue the rupee as it was
Published 07 May, 2008 12:00am
AHRC deplores disappearance of political activists

AHRC deplores disappearance of political activists

The Hong Kong-based Asian Human Rights Commission (AHRC) has deplored that forced disappearances of political activists still continue despite induction of new elected government in Pakistan.
Published 07 May, 2008 12:00am
THE RUPEE: highly volatile session before intervention

THE RUPEE: highly volatile session before intervention

Panic buying of dollars by importers caused dearth of the US currency. Amid volatile session dollar touched the new high at 66.78, resulting in the State Bank of Pakistan's (SBP) intervention in the interbank market on Monday to rescue the rupee as it was
Published 07 May, 2008 12:00am
Fixation of wheat prices challenged

Fixation of wheat prices challenged

The Lahore High Court (LHC) has called for a report from the federal and provincial agricultural ministries and Punjab home department in a petition challenging fixation of wheat prices at Rs 625 per 40 kg.
Published 07 May, 2008 12:00am
'Corruption, negligence in irrigation department will not be tolerated'

'Corruption, negligence in irrigation department will not be tolerated'

Senior Minister for Irrigation, Raja Riaz Ahmed has said that corruption or negligence will not be tolerated in the irrigation department, provision of irrigation water at tail ends would be ensured. He also assured that prompt patrolling round the clock
Published 07 May, 2008 12:00am
Supreme Court moved for commuting death sentence of 52 prisoners

Supreme Court moved for commuting death sentence of 52 prisoners

An advocate of Supreme Court, Muhammad Siddique Khan, on Tuesday filed a constitutional petition, as pro bono publico, seeking either release or conversion of death sentence into life imprisonment of the prisoners being kept in death cells for over eight
Published 07 May, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (May 06, 2008).

Published 07 May, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (May 06, 2008).

Published 07 May, 2008 12:00am
India fails to hand over Muhammed Akram's body

India fails to hand over Muhammed Akram's body

Despite repeated requests by Pakistan, India has failed to hand over body of ill-fated Pakistani national Muhammed Akram who died in Amritsar jail on April 26 under mysterious circumstances. This is a second gory incident in two months, which reflects the
Published 07 May, 2008 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (May 06, 2008).

Published 07 May, 2008 12:00am
Losers outclass gainers at ISE

Losers outclass gainers at ISE

Losers outclassed gainers at the Islamabad Stock Exchange (ISE) on Tuesday where selling pressure intensified in hot favourite amid decrease in index. ISE-10 Index showed a decrease of 25.07 points from 3,149.40 to 3,124.33 points.
Published 07 May, 2008 12:00am
Bangladesh tea prices fall

Bangladesh tea prices fall

The average price of Bangladesh teas fell 4.22 percent to 110.44 taka ($1.61) per kg on lower overseas demand at the weekly auction on Tuesday, brokers said. A total of 845,670 kg were sold at an average price of 110.44 taka, down 4.86 taka from the last
Published 07 May, 2008 12:00am
FBR approaches mega entities for tax disputes settlement

FBR approaches mega entities for tax disputes settlement

The Federal Board of Revenue has directly approached banks, oil and gas sector, groups of companies, an independent power producer, Trading Corporations of Pakistan and other leading corporations and corporate entities for settlement of major income tax d
Published 07 May, 2008 12:00am
Cuba eyes soya beans for vacant sugar lands

Cuba eyes soya beans for vacant sugar lands

Cuba has begun soya bean production on 5,000 hectares of land formally dedicated to sugar cane, official radio reported on Tuesday, the first such effort to grow soya on the Caribbean island.
Published 07 May, 2008 12:00am
FBR approaches mega entities for tax disputes settlement

FBR approaches mega entities for tax disputes settlement

The Federal Board of Revenue has directly approached banks, oil and gas sector, groups of companies, an independent power producer, Trading Corporations of Pakistan and other leading corporations and corporate entities for settlement of major income tax d
Published 07 May, 2008 12:00am
US Midwest soyabean mixed

US Midwest soyabean mixed

Spot basis bids for soyabeans were mixed on Monday, falling at river terminals around the US Midwest but holding steady to rising slightly around the interior, grain dealers said. Corn bids were steady to firm at both river terminals and interior processo
Published 07 May, 2008 12:00am
US asks Pakistan to live up to 'war on terror' commitment

US asks Pakistan to live up to 'war on terror' commitment

The United States said Monday it wanted Pakistan to live up to its commitment of urgently bringing security under control in its remote tribal areas allegedly used as a safe haven by al Qaeda and Taliban militants.
Published 07 May, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 132,079 tonnes cargo including 87,197 tonnes import, 44,882 tonnes export cargo and 4,294 containers (TEUs) during last 24 hours ending at 0700 hours on Tuesday. The cargoes comprised of 97,479 tonnes dry cargo including 63,077 to
Published 07 May, 2008 12:00am
US asks Pakistan to live up to 'war on terror' commitment

US asks Pakistan to live up to 'war on terror' commitment

The United States said Monday it wanted Pakistan to live up to its commitment of urgently bringing security under control in its remote tribal areas allegedly used as a safe haven by al Qaeda and Taliban militants.
Published 07 May, 2008 12:00am
FOB Gulf new-crop soya offers rise, corn steady

FOB Gulf new-crop soya offers rise, corn steady

US FOB Gulf soyabean basis offers for new-crop positions were higher on Monday amid expectations for demand, while corn was mostly steady. Basis offers for nearby soya positions were steady, but there was a lack of fresh demand, traders said.
Published 07 May, 2008 12:00am
'Super-spike' could lift oil to $200: Goldman Sachs

'Super-spike' could lift oil to $200: Goldman Sachs

Oil could shoot up to $200 within the next two years as part of a "super-spike" driven by poor growth in oil supplies, investment bank Goldman Sachs said in a research note. "We believe the current energy crisis may be coming to a head, as a lack of adequ
Published 07 May, 2008 12:00am
Malaysian palm oil listless

Malaysian palm oil listless

Malaysian crude palm oil futures edged lower on Tuesday as investors took profits and stayed away due to an increasingly cloudy outlook for vegetable oils. Palm oil prices, meandering for the past three weeks, are heading lower on a mix of factors, includ
Published 07 May, 2008 12:00am
'Super-spike' could lift oil to $200: Goldman Sachs

'Super-spike' could lift oil to $200: Goldman Sachs

Oil could shoot up to $200 within the next two years as part of a "super-spike" driven by poor growth in oil supplies, investment bank Goldman Sachs said in a research note. "We believe the current energy crisis may be coming to a head, as a lack of adequ
Published 07 May, 2008 12:00am
US rice futures end firm

US rice futures end firm

US rough rice futures on the Chicago Board of Trade ended firm on Monday on a technical bounce from last week's big sell-off, traders said. May rice settled 17 cents up at $20.72 per cwt and July ended 5-1/2 up at $21. New-crop months of September and Nov
Published 07 May, 2008 12:00am
''Super-spike'' could lift oil to $200: Goldman Sachs

''Super-spike'' could lift oil to $200: Goldman Sachs

Oil could shoot up to $200 within the next two years as part of a "super-spike" driven by poor growth in oil supplies, investment bank Goldman Sachs said in a research note. "We believe the current energy crisis may be coming to a head, as a lack of adequ
Published 07 May, 2008 12:00am
US soya futures lower as corn slides

US soya futures lower as corn slides

US soyabean futures on the Chicago Board of Trade fell on Monday pressured by the weakness in corn and easing concerns about a large-scale strike in Argentina that would stall soyabean movement, traders said. May soyabeans ended 19-1/2 cents lower at $12.
Published 07 May, 2008 12:00am
New York sugar settles lower

New York sugar settles lower

Raw sugar futures settled easier on Monday on modest investor sales as the absence of many players going to an industry dinner and a lack of fresh leads kept the market in a tight band, brokers said. The key July sugar contract slipped 0.01 cent to settle
Published 07 May, 2008 12:00am
Asian rubber: tyre makers cover stocks but China shies away

Asian rubber: tyre makers cover stocks but China shies away

Major tyre makers are still in the market for nearby shipments, but main rubber consumer China has turned to domestic stocks as prices surge in Southeast Asia on tight supplies. Michelin, Goodyear Tire & Rubber Co and Bridgestone sought tyre grades for Ju
Published 07 May, 2008 12:00am
Indian sugar falls

Indian sugar falls

Indian sugar futures dropped on Tuesday, weighed down by sluggish demand in the spot market and worries the government may halt futures trading to rein in 3-year high inflation of nearly 8 percent. At 3:22 pm (0952 GMT), the May contract was down 0.86 per
Published 07 May, 2008 12:00am
US warns

US warns

The United States, the Asian Development Bank's second-biggest donor, warned the institution on Tuesday it risked becoming irrelevant if it fails to adapt to the region's rapid economic expansion.
Published 07 May, 2008 12:00am
Malaysian tin up

Malaysian tin up

Malaysian tin climbed nearly 2 percent on Tuesday on steady demand and lack of supplies, one dealer said.
Published 07 May, 2008 12:00am
US warns

US warns

The United States, the Asian Development Bank's second-biggest donor, warned the institution on Tuesday it risked becoming irrelevant if it fails to adapt to the region's rapid economic expansion.
Published 07 May, 2008 12:00am
Oil pauses near record

Oil pauses near record

Oil steadied on Tuesday after surging more than $4 to a record over $120 a barrel in the previous session, on a softer US dollar and supply concerns in Iran and Nigeria. US light crude for June delivery rose 19 cents to $120.16 a barrel, after rising to a
Published 07 May, 2008 12:00am
US warns

US warns

The United States, the Asian Development Bank''s second-biggest donor, warned the institution on Tuesday it risked becoming irrelevant if it fails to adapt to the region''s rapid economic expansion.
Published 07 May, 2008 12:00am
Indian soyaoil futures rise

Indian soyaoil futures rise

Indian soyaoil futures rose on Tuesday, bolstered by record high crude oil prices that could result in diversion of more vegetable oils for use as biofuel. The market was also underpinned by a weak rupee, which would make imports expensive. India imports
Published 07 May, 2008 12:00am
Stock market plunges

Stock market plunges

The Karachi share market witnessed another big decline as the benchmark KSE-100 index plunged by 264.29 points to close at 14,408.84 points on Tuesday. The KSE-30 index also declined by 383.16 points and settled at 17,267.15 points.
Published 07 May, 2008 12:00am
Gold extends gains on record oil

Gold extends gains on record oil

Gold extended gains on Tuesday, adding to a rise of nearly 2 percent in New York, helped by bargain hunting and record-high crude oil, which enhanced the metal's appeal as a hedge against inflation. Bullion's fall to a four-month low last week also spurre
Published 07 May, 2008 12:00am
Stock market plunges

Stock market plunges

The Karachi share market witnessed another big decline as the benchmark KSE-100 index plunged by 264.29 points to close at 14,408.84 points on Tuesday. The KSE-30 index also declined by 383.16 points and settled at 17,267.15 points.
Published 07 May, 2008 12:00am
US gold jumps, moving closer to $900 an ounce

US gold jumps, moving closer to $900 an ounce

US gold futures jumped in thin volume on Monday following a near 4 percent decline last week, as a failed dollar rally and higher crude oil prices lifted bullion closer to the $900 level.
Published 07 May, 2008 12:00am
Stock market plunges

Stock market plunges

The Karachi share market witnessed another big decline as the benchmark KSE-100 index plunged by 264.29 points to close at 14,408.84 points on Tuesday. The KSE-30 index also declined by 383.16 points and settled at 17,267.15 points.
Published 07 May, 2008 12:00am
Chilean strike helps boost US copper to record high

Chilean strike helps boost US copper to record high

US copper futures shot to all-time record highs on Monday, though in thin volume, on the back of a continued strike in Chile, a weaker dollar, and strong technical buying, analysts said. Copper for July delivery ended up 12.70 cents or 3.3 percent at $3.9
Published 07 May, 2008 12:00am
BRIndex30 down 327.27 points

BRIndex30 down 327.27 points

On Tuesday, BRIndex30 opened at 16,168.79 with a downward gap of 82.99 points. It closed at 15,924.51, registering a negative change of -327.27 points and percentage change of -2.01. It experienced intra-day high of 16,369.98 and intra-day low of 15,783.4
Published 07 May, 2008 12:00am
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