Soft commodity markets were consolidating on Tuesday after steep losses from wholesale investment fund liquidation in the previous session, analysts said. "Today is a consolidation day," Larry Young, a senior analyst for brokerage Infinity Futures in Chic
US gold reversed much of Monday's declines when the dollar gave up its gains against the euro, traders said, adding that continued crude oil losses kept pressure on the yellow metal. The August contract finished $4.80, or 0.51 percent, lower at $928.80 an
Gold slid more than 1 percent on Tuesday as oil prices shed more than $6 a barrel and as the dollar firmed after comments from Federal Reserve chairman Ben Bernanke. Spot gold fell to $914.20/915.20 an ounce at 1505 GMT from $925.15/926.35 an ounce late i
Arabica coffee futures fell nearly 4 percent on ICE Futures in early trade Tuesday on continued long liquidation, while US cocoa futures turned higher as manufacturers took advantage of Monday's steep fall. September arabica contract down 4.20 cents or 2.
The benchmark October raw sugar contract gained 0.23 cent to end at 13.75 cents per lb, dealing from 13.26 to 13.83 cents, early on Tuesday. Volume traded in the October contract was at 53,631 lots at 2:02 pm EDT (1902 GMT).
Wheat futures on the Chicago Board of Trade were lower early on Tuesday on spillover weakness as the corn and soybean markets continued to plunge, traders said. Seasonal wheat harvest pressure and a drop in the crude oil and gold markets added pressure.
Corn and soyabean futures on the Chicago Board of Trade plunged early on Tuesday on better weather in the US Midwest and improved crop condition ratings, traders said. A drop in the crude oil and gold markets lend additional pressure.
US copper futures lost nearly 4 percent of their value early Tuesday as further profit-taking losses pressured prices into sell-stop orders below which quickened the pace of the decline, traders said.
US gold pulled further off the 2-1/2 month high set late last week as crude oil prices continued to decline and the dollar's advance undermined both commodities in early Tuesday's activity, traders said. The August contract dropped $12.70 or 1.37 percent
The Inspector General of Sindh Police Sultan Sallahuddin Babar Khattak has stressed the need for developing traffic sense among Karachiities to check road accidents. He was speaking at a certificate distribution ceremony of First Aid Course (FAC) organise
Pakistan State Oil Company Limited (PSO) has clarified a news item published in Business Recorder on July 07, 2008 under the caption "Ministry seeks ECC nod to shutdown 19 PSO depots". In a clarification PSO said that the proposed reduction in the
The Board of Directors of HBL Assets Management, the Management Company of HBL, Income Fund, HBL Stock Fund, HBL Multi-Asset Fund in its meeting held on July 5, 2008 declared results for its funds for the year ended June 30, 2008. The Board approved final
The Board of Directors of HBL Assets Management, the Management Company of HBL, Income Fund, HBL Stock Fund, HBL Multi-Asset Fund in its meeting held on July 5, 2008 declared results for its funds for the year ended June 30, 2008. The Board approved final
The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term ratings of Askari Bank Limited (AKBL) at AA (Double A) and A1+ (A one plus) respectively. The ratings of first and the second unsecured subordinated TFC issues of Rs 1,5
The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term ratings of Askari Bank Limited (AKBL) at AA (Double A) and A1+ (A one plus) respectively. The ratings of first and the second unsecured subordinated TFC issues of Rs 1,5
The board of director of the Pak Oman Asset Management Company Limited (POBOP) has declared the dividend of 'POBOP Advantage Plus Fund', an open end fixed income scheme, in their meeting held on July 7, through conference call and has approved the followi
The board of director of the Pak Oman Asset Management Company Limited (POBOP) has declared the dividend of 'POBOP Advantage Plus Fund', an open end fixed income scheme, in their meeting held on July 7, through conference call and has approved the followi
President of Pakistan Muslim League (PML-Q) Chaudhry Shujaat Hussain, Central Vice President Muhammad Ali Durrani and Secretary General Senator Mushahid Hussain Sayed have condoled the demise of renowned poet, researcher, columnist and vice president of t
AJK government is contemplating to air-link Azad Jammu Kashmir's fast expanding model city of Mirpur with rest of the world through the establishment of an international airport in order to provide direct air travelling facilities to the people of Mirpur,
The Lahore High Court has issued notices for July 13 to Punjab University Vice Chancellor Professor Dr Mujahid Kamran and Institute of Communication Studies Director Professor Dr Mugheesuddin in a petition alleging discrimination against PhD students.
Rising petroleum prices would affect the agriculture sector of the country as farmers are dependent on fuel to operate their tube-wells for producing water, which is the basic need for the irrigation and growth of the crops.
Unidentified gunmen have shot dead administrator of a government-run religious seminary in the troubled Swat valley, police said Tuesday. Maulana Masood came under attack at Sara Cheena area of Tehsil Charbagh on Monday night when he was on his way to hom
Pakistan High Commissioner to the United Kingdom Wajid Shamsul Hasan has said the new democratic government is committed to the welfare of the people of Pakistan and despite numerous challenges in all walks of life, initiatives have been taken for economi
The Azad Jammu and Kashmire (AJK) government has directed the heads of all nation-building departments to utilise all possible available resources and to ensure timely completion of development projects of public welfare, official sources said.
Ufone would spend 200 million dollars on its network expansion to ensure quality and affordable services to its around 17 million subscribers during the current financial year.
Azerbaijan has reiterated its support to Pakistan's principled stand on the Kashmir issue just as Pakistan has supported Azerbaijan on the issue of Armenia. These views were expressed by Azerbaijan Parliament Speaker Ogtay Asadov while talking to Pakistan
Renowned lawyer Ghulam Mustafa Qureshi was laid to rest here at Hazara graveyard on Tuesday. The funeral prayer was offered at the graveyard. A large number of lawyers, office-bearers of Balochistan and Quetta Bar Associations, writers, journalists and se
There are opportunities to set up desalination plants by utilising solar energy to bring a vast area of barren land under cultivation. Sindh Minister for Environment and Alternate Energy, Askari Taqvi stated this. He was talking to Nadir Abdul Latif, head
Our private colleges enjoy the freedom of providing education without any interference of political activities, but are unable to fulfil their basic responsibility of providing quality education to students.
According to press reports Pakistan's ace philanthropist Abdul Sattar Edhi has opened another chapter of Abdul Sattar Edhi Foundation called "Free Food for the Poor".
Walls get tagged with graffiti. Cars get shot up in drive-by shootings. Youngsters flash gang signs and battle with bricks, sticks, bats and pipes in the local park over turf. Once a sleepy smelter town on the Mexico border, Douglas is one of several citi
Given the manner in which the coalition government is functioning (?) at the centre, and the doubts there have been lingering about the first 100 days of the new government, and a ministerial rhetoric punctuated by half-hearted hollow claims, and the suic
Do you recall the Darfur tragedy? It caught the attention of the international community in February 2003. More than 5 years later the devils on horseback are still ravaging not only in Darfur itself, but also they have spread the conflict into Chad.
According to a press report, the government is about to close the Khushhal Pakistan Fund, set up less than three years ago under public-private partnership in support of Pakistan Khushhal Programme to promote poverty reduction schemes in the less develope
Within 24 hours of the deadly suicide-bombing attack in the nation's capital, the country's commercial hub, Karachi, was rocked by a string of blasts on Monday evening. While the Islamabad bombing took some 20 lives, mostly of police personnel, the Karach
The Institute of Chartered Accountants of Pakistan (ICAP) held an award distribution ceremony at its regional office in Lahore recently in honour of its meritorious students of Northern Region who qualified in the examinations held in the year 2007.
The Pakistan Crop Protection Association (PCPA) has announced to call off their current strike against a campaign being run by the Punjab government to check the business of spurious and adulterated pesticides and fertilisers.
Awami Muslim League (AWL) President Sheikh Rashid Ahmed said on Tuesday that financial crisis in the country were deepening and the situation might aggravate in times to come. Talking to newsmen at his party's provincial office here, Sheikh Rashid said th
Punjab Chief Minister Mian Muhammad Shahbaz Sharif has announced financial assistance of rupees one million each for the families of the Punjab police officials who were martyred in a bomb blast in Islamabad. This amount will be in addition to the financi
Federal Textile Minister Ahmad Mukhtar has assured to continue the Research and Development (R&D) support to the textile sector for 2008-09. The government will consider it in an inter-ministerial co-ordination committee meeting likely to be held on July
Punjab Chief Minister Shahbaz Sharif has taken strict notice of the fact that most of closed circuit cameras installed in the city for monitoring the activities of anti-social elements were out of order and directed the Punjab IGP to undertake immediate r
Eight children are born every minute, 49 million people are living below the poverty line, while at least 500 mothers out of 10,000, die during pregnancy. The Punjab Minister for Population Welfare Ms Neelam Jabbar Chaudhry said this while addressing a ne
The Regional Tax Office here has collected Rs 31.5 billion in the 2007-08 financial year under all taxes as compared to last year's figure of Rs 25.56 billion, which is Rs 5,935 million more, showing an increase of 23 percent. RTO Director General Khwaja
The Lahore High Court has ordered sub-inspector of the CIA Kotwali to appear before court on July 14 in a petition against him alleging his involvement in the abduction of a child. Petitioner Akhter had filed a habeas corpus petition submitting that some
During its massive crackdown against plot mafia and land grabbers, the staff of the Estate Management Directorate of Lahore Development Authority retrieved a total of 20 plots worth millions of rupees, situated in different blocks of Johar Town, here, on
Board of Directors of the Punjab Seed Corporation (PSC) gave approval of a budget of Rs 2.175 billion for the Corporation for the year 2008-09. Punjab Minister for Agriculture Ahmad Ali Aulakh chaired the meeting, also present were Punjab Agriculture Secr
The 796th urs celebrations of Hazrat Moeenuddin Chishti Ajmeri will be held here from July 9-10 under the auspices of provincial department for religious affairs and Auqaf. A seminar will be held at Hazrat Data Ganj Bakhsh Complex on Wednesday July 9 unde
Nasir Khan Durrani, Regional Police Officer, Rawalpindi on Tuesday said that security in Rawalpindi was beefed up after information regarding the entry of explosive-laden vehicles. "We have increased the force around the sensitive installations particular
Some two persons were killed and nine others injured in different accidents across the city. Sources said that Hussain, 37, son of Tahir was killed when a speeding passenger bus hit his motor bike from behind at Dawood roundabout in afternoon.
The City District Government, Peshawar, on Tuesday unveiled the annual budget of Rs 9.828 billion for the financial year 2008-09, showing total expenditure of Rs 6.569 billion with a surplus of Rs 3.159 billion. The revenue of the district government duri
The City District Government, Peshawar, on Tuesday unveiled the annual budget of Rs 9.828 billion for the financial year 2008-09, showing total expenditure of Rs 6.569 billion with a surplus of Rs 3.159 billion. The revenue of the district government duri
With the tribal areas possibly full of resources, and our own economy starting to slow down, providing a secure climate in these mountainous areas could improve the country's investment prospects. As negotiations only give militants more time to rearm, th
Mobilink has launched 'Mobilink Genie', a futuristic service of privileges and convenience, heralding the onset of mobile commerce in Pakistan. This service has been introduced with the collaboration of Inov8, CitiBank, KASB, Atlas Bank and Adamjee Insura
PML-Q has expelled Kashmala Tariq and cancelled her party membership. The action was taken against her, as she did not vote Chaudhry Pervez Elahi for Premier-ship, differences over several issues and violating party discipline. Kashmala Tariq was elected
The Sindh Minister for Local Government Agha Siraj Khan Durani has suspended three officers of the local government of Sehwan Sharif due to their negligence, which resulted in contaminated drinking water being supplied to the public. The suspended officer
A meeting on Tuesday, presided over by Sindh Chief Minster Qaim Ali Shah, reviewed the law and order situation in the province and termed the performance of law enforcing agencies as "defective" in the wake of Monday's serial bomb explosions in Karachi.
The College of Physicians and Surgeons Pakistan (CPSP) is successfully conducting quality training workshops with its expansion project simultaneously and over 1,500 under training doctors and more than 300 senior specialist doctors have participated in t
The ministry of ports and shipping is planning to set up a high-level committee to deal with the disputes between traders and various companies on shipping charges. The Local Shipping Rates Advisory Committee was under consideration to address the grievan
The on-going audit of the development and non-development schemes carried out by 44 district governments and 144 tehsil municipal administrations (TMAs) in Punjab during the period of 2001-2008 will be completed by the end of August.
After the series of bomb blasts in Karachi and Islamabad, Punjab government has ordered high alert in all the districts of the province. An official spokesman said here on Tuesday that provincial government reiterated the firm resolve of his government to
The government is striving hard for improving power distribution system to get rid of load shedding within the next couple of years. Chief Executive Officer (CEO), Faisalabad Electric Supply Company (Fesco), Ahmad Saeed Akhtar expressed these views in "Gu
Socio-political circles have expressed deep concern over the poor performance of the government and alleged that due to weak policies of the government the industrial sector as well as common man adversely affected in the country.
National Pesticides Residues Monitoring System (NPRMS) will be set up with a cost of Rs 20 million to check the quality and standard of pesticides and other chemicals used in agri-sector. Rs 500 million will be spent in "Wheat maximisation programme" to i
First Cyclotron in Pakistan has been placed in the bunker at the Shaukat Khanum Memorial Cancer Hospital (SKMCH) in Lahore. The Cyclotron and PET SCAN is the most modern diagnostic tool in the management of cancer in Pakistan because of its ability to det
Former ambassador Javaid Hussain has said the presence of the United States and the International Security Assistance Force (ISAF) in Afghanistan could worsen the situation instead of helping bring about stability.
Punjab Chief Minister Shahbaz Sharif here on Tuesday constituted a committee for proper application and enforcement of Anti-Terrorism Act, 1997 in the province. Punjab Minister for Law Sanaullah Khan will be chairman of the committee, while Home Departmen
Punjab Governor Salmaan Taseer has said that to solve issues of the masses more powers should be vested in district governments. He was talking to participants of 88th Management Course here on Tuesday. He said district governments had overall performed w
The Punjab government has appointed columnist Atta-ul-Haq Qasmi as Chairman of Board of Governors of Al-Hamra Arts Council. According to a notification issued here in this regard. Atta-ul-Haq Qasmi is the recipient of Pride of Performance and Sitara-e-Imt
Punjab Health Department has directed all the Executive District Officers (EDOs) Health to complete all pre-flood arrangements and send a comprehensive compliance report to the headquarters. Director Health Services (CDC), Dr Zia-ur-Rehman said that on th
The 70th meeting of Board of Directors (BoD) of the Punjab Mineral Development Corporation (PUNJMIN) held on Tuesday in the committee room of the office of Secretary Mines and Mineral Department to regularise the services of 221 employees working for 10 t
Provincial Labour Minister Amir Nawab Tuesday said that poverty is one of the major factors for child labour and children are not admitted to schools because of this factor. He said child labour is also getting boost in Sindh because of dismemberment of f
The Sindh University (SU) has approved schedule of admissions for Bachelors and Masters' degrees programme for academic session 2009 here on Tuesday. A high level meeting, in this connection, attended by the deans of faculties and other concerned section
Executive Director, United States Educational Foundation (USEF), Dr Grace Clark has told Vice Chancellor, Government College University (GCU), Dr Khalid Aftab about the Foundation's Scholarship programmes and Educational Advising Services.
"Globalisation is a challenge which can be turned into opportunities for benefit of Islamic revival," said Professor of Islamic Studies at the University of Oxford, UK, Dr Tariq Ramadan. He was delivering a lecture on "Globalisation and the Redefinition o
The police questioned several suspects on Tuesday over multiple blasts here, which killed one person and wounded 37, the second attack in as many days to hit the key ally in the 'war on terror'. The string of six explosions in the volatile city came a day
Three security personnel were killed and four others injured when unknown gunmen ambushed them at Akakhel area in Tehsil Bara of Khyber Agency on Tuesday. "Three security men of paramilitary force have been killed and four others injured when armed assail
The mother of Tariq Aziz, a close aide of President Pervez Musharraf and Secretary of National Security Council, was laid to rest at Cantonment graveyard on Tuesday. She was 96. Her Namaz-e-Janaza was held here at 37-B Cantonment after Maghrab prayers.
Sindh Minister for Fisheries, Zahid Ali Bhurgari, on Tuesday said that the Sindh government has offered 20,000 acres in Badin and Thatta to the private sector for development of aquaculture and shrimp farming.
The Supreme Court on Tuesday dismissed the petition of the Pakistan Cricket Board (PCB) petition against the interim relief of Lahore High Court (LHC), which reinstated Saleem Altaf as Director, Special Projects of the PCB.
A meeting of the Population Census Organisation (PCO) has been summoned today (July 9) and 10 in connection with forthcoming census of the country. Tariq Shafiq Khan, secretary of statistics division will preside over the meeting while chief census commis
Provincial Minister for Interior and Forest Dr Zulfiqar Ali Mirza has said that the recent bomb blasts in Karachi were aimed at destabilising democracy in the country, says a press release. The minister directed the investigation team to early complete th
The Federal Board of Revenue (FBR) has finalised the annual plan for collection of additional Rs 15 billion during 2008-09 through administrative measures, including strict enforcement of tax laws.
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).
The subjective monetary policies and superficial measures by the State Bank of Pakistan (SBP) are set to push over 50 percent population below the poverty line by the end of this fiscal year and there are looming signs of the recession due to ever-increas
Almost 128 million persons were added to the country's population during the last 58 years (1951-2008) whereas the annual growth has risen from 1 percent to 2 percent reflecting that if it continued with the same pace the population would double in 2045,
Chief of Army Staff (CoAS), General Ashfaq Kayani, said on Tuesday that the hard professional training was key to harness the professional skills which were required to give a cutting edge to Army. The CoAS was addressing the garrison officers, during his
The Ministry of Food Agriculture and Livestock (Minfal) has called an emergency meeting to formulate a strategy to protect cotton crop from lethal virus of mealy bug, which is threatening the production target of 14.1 million bales for the year, it was le
Food ministers and officials of Punjab and NWFP will be meeting here in Lahore on July 10, 2008 to review the progress on the agreement reached between the two provinces in April this year for provision of wheat and flour to NWFP by Punjab during 2008-09.