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Print - 2008-07-16
IHC Chief Justice suggests government-A Q Khan talks

IHC Chief Justice suggests government-A Q Khan talks

Islamabad High Court Chief Justice Sardar Muhammad Aslam on Tuesday proposed to the government to hold talks with Dr A Q Khan for an amicable solution to end his confinement. The CJ gave these remarks while hearing a habeas corpus case filed by Advocate M
Published 16 Jul, 2008 12:00am
Hearing of CCP appeal adjourned

Hearing of CCP appeal adjourned

The Supreme Court on Tuesday adjourned the hearing of an appeal by Competition Commission of Pakistan (CCP) against the orders of Sindh High Court (SHC) which restricted the Commission from taking any coercive action against the Pakistan Banks Association
Published 16 Jul, 2008 12:00am
Farmers want wheat support price at Rs 1000/40kg

Farmers want wheat support price at Rs 1000/40kg

The government has been asked to keep the wheat support price at Rs 1000 per 40 kg as the farmers organisations say that high support price would help them grow more wheat in the next season and ensure self-sufficiency in principal food requirement.
Published 16 Jul, 2008 12:00am
Industrialists, textile exporters end strike

Industrialists, textile exporters end strike

Industrialists and textile exporters from Faisalabad ended their strike after meeting with Prime Minister Syed Yousuf Raza Gilani in Lahore on Tuesday while second round of talks between industrialists and the government would be held on July 17 at Islama
Published 16 Jul, 2008 12:00am
Islamabad rejects Kabul's allegations

Islamabad rejects Kabul's allegations

Pakistan has rejected the baseless allegations levelled against its intelligence agencies and armed forces by Afghanistan President Hameed Karzai and the Afghan Cabinet. Such baseless accusations serve no purpose other than vitiating bilateral atmosphere
Published 16 Jul, 2008 12:00am
Ten years'''' income tax moratorium on LIE industrial units

Ten years'''' income tax moratorium on LIE industrial units

The Federal Board of Revenue (FBR) has exempted income tax on profits and gains of the industrial units set up in the Tax Free Zone of the Larkana Industrial Estate (LIE) during July 1, 2008 to June 30, 2013. The FBR has amended Second Schedule of the Inc
Published 16 Jul, 2008 12:00am
Ten years'' income tax moratorium on LIE industrial units

Ten years'' income tax moratorium on LIE industrial units

The Federal Board of Revenue (FBR) has exempted income tax on profits and gains of the industrial units set up in the Tax Free Zone of the Larkana Industrial Estate (LIE) during July 1, 2008 to June 30, 2013. The FBR has amended Second Schedule of the Inc
Published 16 Jul, 2008 12:00am
Ten years' income tax moratorium on LIE industrial units

Ten years' income tax moratorium on LIE industrial units

The Federal Board of Revenue (FBR) has exempted income tax on profits and gains of the industrial units set up in the Tax Free Zone of the Larkana Industrial Estate (LIE) during July 1, 2008 to June 30, 2013. The FBR has amended Second Schedule of the Inc
Published 16 Jul, 2008 12:00am
Ten years' income tax moratorium on LIE industrial units

Ten years' income tax moratorium on LIE industrial units

The Federal Board of Revenue (FBR) has exempted income tax on profits and gains of the industrial units set up in the Tax Free Zone of the Larkana Industrial Estate (LIE) during July 1, 2008 to June 30, 2013. The FBR has amended Second Schedule of the Inc
Published 16 Jul, 2008 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (July 15, 2008).
Published 16 Jul, 2008 12:00am
Hosiery manufacturers call off strike

Hosiery manufacturers call off strike

The Pakistan Hosiery Manufacturers Association (PHMA) has called off strike after the assurance of Prime Minister, Yousaf Raza Gilani that he would resolve problems of the textile industry, including those of the knitwear garment sector, following the 31
Published 16 Jul, 2008 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (July 15, 2008).
Published 16 Jul, 2008 12:00am
Hosiery manufacturers call off strike

Hosiery manufacturers call off strike

The Pakistan Hosiery Manufacturers Association (PHMA) has called off strike after the assurance of Prime Minister, Yousaf Raza Gilani that he would resolve problems of the textile industry, including those of the knitwear garment sector, following the 31
Published 16 Jul, 2008 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (July 15, 2008).
Published 16 Jul, 2008 12:00am
Hosiery manufacturers call off strike

Hosiery manufacturers call off strike

The Pakistan Hosiery Manufacturers Association (PHMA) has called off strike after the assurance of Prime Minister, Yousaf Raza Gilani that he would resolve problems of the textile industry, including those of the knitwear garment sector, following the 31
Published 16 Jul, 2008 12:00am
Saudi king arrives in Spain

Saudi king arrives in Spain

King Abdullah of Saudi Arabia arrived in Spain Tuesday on the eve of an international conference in Madrid to promote dialogue between the world's main religions.
Published 16 Jul, 2008 12:00am
Saudi king arrives in Spain

Saudi king arrives in Spain

King Abdullah of Saudi Arabia arrived in Spain Tuesday on the eve of an international conference in Madrid to promote dialogue between the world's main religions.
Published 16 Jul, 2008 12:00am
Five percent duty on import of Afghan fresh, dry fruit restored

Five percent duty on import of Afghan fresh, dry fruit restored

The Federal Board of Revenue (FBR) has restored concessionay rate of 5 percent customs duty on the import of all kinds of fresh and dry fruits from Afghanistan. The board has amended SRO 567(1)/2006 through a notification issued on Tuesday to rectify an e
Published 16 Jul, 2008 12:00am
Five percent duty on import of Afghan fresh, dry fruit restored

Five percent duty on import of Afghan fresh, dry fruit restored

The Federal Board of Revenue (FBR) has restored concessionay rate of 5 percent customs duty on the import of all kinds of fresh and dry fruits from Afghanistan. The board has amended SRO 567(1)/2006 through a notification issued on Tuesday to rectify an e
Published 16 Jul, 2008 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (July 15, 2008).
Published 16 Jul, 2008 12:00am
Five percent duty on import of Afghan fresh, dry fruit restored

Five percent duty on import of Afghan fresh, dry fruit restored

The Federal Board of Revenue (FBR) has restored concessionay rate of 5 percent customs duty on the import of all kinds of fresh and dry fruits from Afghanistan. The board has amended SRO 567(1)/2006 through a notification issued on Tuesday to rectify an e
Published 16 Jul, 2008 12:00am
Five percent duty on import of Afghan fresh, dry fruit restored

Five percent duty on import of Afghan fresh, dry fruit restored

The Federal Board of Revenue (FBR) has restored concessionay rate of 5 percent customs duty on the import of all kinds of fresh and dry fruits from Afghanistan. The board has amended SRO 567(1)/2006 through a notification issued on Tuesday to rectify an e
Published 16 Jul, 2008 12:00am
Coalition warships seize 30 tonnes of Afghan drugs

Coalition warships seize 30 tonnes of Afghan drugs

British and other warships operating in the Gulf have seized 30 tonnes of narcotics being smuggled from Afghanistan as part of suspected Taliban-financing operations, the operation's headquarters said on Tuesday.
Published 16 Jul, 2008 12:00am
Biden, Lugar introduce legislation in US Senate

Biden, Lugar introduce legislation in US Senate

Legislation was introduced Tuesday in Congress proposing non-military aid to Pakistan be tripled to 7.5 billion dollars over five years, and linking security aid to counter-terrorism performance.
Published 16 Jul, 2008 12:00am
Porters' strike hits India-Pakistan trade at Wagah

Porters' strike hits India-Pakistan trade at Wagah

India's trade with Pakistan through the Wagah land border remained suspended for the second day after porters struck work, over a single demand for better wages. Porters on Indian side carry goods till Pakistani gate, from where porters from the other sid
Published 16 Jul, 2008 12:00am
Sugar mills told to clear cane growers' dues by July 31

Sugar mills told to clear cane growers' dues by July 31

Punjab Food Minister Nadeem Kamran has directed the sugar mill owners to ensure payment of dues of Rs 1.99 billion to sugarcane growers by July 31, and warned that strict action will be taken against those failing to pay.
Published 16 Jul, 2008 12:00am
Save US oil reserve for supply problems: Bush

Save US oil reserve for supply problems: Bush

President George W. Bush said on Tuesday there was no quick fix to lowering record fuel prices and that oil in the US Strategic Petroleum Reserve should be saved for supply emergencies. "The SPR is for emergencies," Bush told reporters at a White House ne
Published 16 Jul, 2008 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (July 15, 2008).
Published 16 Jul, 2008 12:00am
Bank of Canada holds rates

Bank of Canada holds rates

The Bank of Canada held interest rates unchanged at 3 percent on Tuesday, as expected, but said inflation could rise above 4 percent for the first time since 2003 as commodity price hikes outpace expectations. Even as it flagged inflation as the one devel
Published 16 Jul, 2008 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (July 15, 2008).
Published 16 Jul, 2008 12:00am
Inflation to hurt Bangladesh poor hardest: IMF

Inflation to hurt Bangladesh poor hardest: IMF

The International Monetary Fund urged Bangladesh on Tuesday to curb inflation, saying spiralling costs would hurt the nation's poor hardest. "Any further sustained increases in international oil and food prices would place stress on the balance of payment
Published 16 Jul, 2008 12:00am
Mixed trend on ISE

Mixed trend on ISE

Mixed trend was observed at the Islamabad Stock Exchange (ISE), where investors and profit-seekers adopted cautious approach during Tuesday's dull session amid the increase in index. ISE-10 Index showed an increase of 5.05 points, as it closed from 2,438.
Published 16 Jul, 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 (July 15, 2008).
Published 16 Jul, 2008 12:00am
Mixed trend on ISE

Mixed trend on ISE

Mixed trend was observed at the Islamabad Stock Exchange (ISE), where investors and profit-seekers adopted cautious approach during Tuesday's dull session amid the increase in index. ISE-10 Index showed an increase of 5.05 points, as it closed from 2,438.
Published 16 Jul, 2008 12:00am
LSE index sheds 69.87 points

LSE index sheds 69.87 points

Bears continued to dominate the Lahore Stock Exchange on Tuesday where equities posted losses amid selling pressure following report about allied forces' advancement on the Pak-Afghan border. The LSE-25 index further slipped by 69.87 points to close at 33
Published 16 Jul, 2008 12:00am
LSE index sheds 69.87 points

LSE index sheds 69.87 points

Bears continued to dominate the Lahore Stock Exchange on Tuesday where equities posted losses amid selling pressure following report about allied forces' advancement on the Pak-Afghan border. The LSE-25 index further slipped by 69.87 points to close at 33
Published 16 Jul, 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 (July 15, 2008).
Published 16 Jul, 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 (July 15, 2008).
Published 16 Jul, 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 (July 15, 2008).
Published 16 Jul, 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 16 Jul, 2008 12:00am
Torkham Border Centre: ISPR version of army Deployment

Torkham Border Centre: ISPR version of army Deployment

A spokesman of the ISPR on Tuesday said that the officials of Pakistan army have been earmarked and are awaiting deployment at the Torkham Border Centre for the last three weeks for want of pre-deployment procedural formalities to be completed by ISAF/Afg
Published 16 Jul, 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 16 Jul, 2008 12:00am
Nato troop build-up sows alarm

Nato troop build-up sows alarm

A build up of Western coalition forces on the Afghan border spread alarm on Tuesday among villagers in North Waziristan, a known stronghold of Taliban and al Qaeda militants. The deployment will add to a mounting sense of foreboding in Pakistan that US gr
Published 16 Jul, 2008 12:00am
Nato troop build-up sows alarm

Nato troop build-up sows alarm

A build up of Western coalition forces on the Afghan border spread alarm on Tuesday among villagers in North Waziristan, a known stronghold of Taliban and al Qaeda militants. The deployment will add to a mounting sense of foreboding in Pakistan that US gr
Published 16 Jul, 2008 12:00am
New York cotton

New York cotton

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

Published 16 Jul, 2008 12:00am
Government for upholding curbs on Abdul Qadeer Khan

Government for upholding curbs on Abdul Qadeer Khan

The government on Tuesday asked Islamabad High Court (IHC) not to withdraw restrictions on disgraced nuclear scientist Abdul Qadeer Khan because he risked implicating the state in nuclear proliferation, a government lawyer said.
Published 16 Jul, 2008 12:00am
New York cotton

New York cotton

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

Published 16 Jul, 2008 12:00am
BRIndex30 sheds 310.51 points

BRIndex30 sheds 310.51 points

On Tuesday, the BRIndex30 opened in the negative zone at 11,668.32. It closed at 11,357.81 and showed a net negative change of -310.51 points and percentage change of -2.66. It recorded intra-day high of 11,668.32 and intra-day low of 11,177.54.
Published 16 Jul, 2008 12:00am
BRIndex30 sheds 310.51 points

BRIndex30 sheds 310.51 points

On Tuesday, the BRIndex30 opened in the negative zone at 11,668.32. It closed at 11,357.81 and showed a net negative change of -310.51 points and percentage change of -2.66. It recorded intra-day high of 11,668.32 and intra-day low of 11,177.54.
Published 16 Jul, 2008 12:00am
Boom in Telecom Infrastructure

Boom in Telecom Infrastructure

New wireless based technologies like GSM and CDMA are much cheaper and can be deployed promptly with better returns. By adopting these modern technologies in the recent past, SCO has rapidly expanded its subscriber base in AJ&K and Northern Areas. Progres
Published 16 Jul, 2008 12:00am
Selling pressure grips KSE

Selling pressure grips KSE

Selling pressure at the Karachi share market continued on Tuesday and the KSE-100 index lost another 217.44 points to close at 10,959.87 points owing to investors concerns over the prevailing law and order situation, mainly in the northern parts of the co
Published 16 Jul, 2008 12:00am
SCO - Growing-Expanding-Enhancing

SCO - Growing-Expanding-Enhancing

Our Brief History: SCO was raised in July 1976 on the directive of the then Prime Minister of the Pakistan with the objective "to develop telecom facilities in the mountainous regions of Azad Jammu & Kashmir and Northern Areas duly catering for the
Published 16 Jul, 2008 12:00am
Selling pressure grips KSE

Selling pressure grips KSE

Selling pressure at the Karachi share market continued on Tuesday and the KSE-100 index lost another 217.44 points to close at 10,959.87 points owing to investors concerns over the prevailing law and order situation, mainly in the northern parts of the co
Published 16 Jul, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 131,771 tonnes of cargo including 90,022 tonnes of import, 41,749 tonnes of export cargo and 3,523 loaded and empty containers (TEUs) during last 24 hours ended at 0700 hours on Tuesday.
Published 16 Jul, 2008 12:00am
Selling pressure grips KSE

Selling pressure grips KSE

Selling pressure at the Karachi share market continued on Tuesday and the KSE-100 index lost another 217.44 points to close at 10,959.87 points owing to investors concerns over the prevailing law and order situation, mainly in the northern parts of the co
Published 16 Jul, 2008 12:00am
US Midwest corn, soya bids hold steady

US Midwest corn, soya bids hold steady

Spot basis bids for soyabeans and corn held steady at interior processors and elevators on Monday, grain dealers said. Cash bids for corn rose at river terminals around the region due to improving CIF values, an Illinois dealer said.
Published 16 Jul, 2008 12:00am
FBR starts top management restructuring

FBR starts top management restructuring

The Federal Board of Revenue (FBR) has started restructuring of top management for reducing number of Members reporting to the Chairman under Tax Administration Reform Project (TARP). Sources told Business Recorder on Tuesday that the designations
Published 16 Jul, 2008 12:00am
Indonesian palm oil output exceeds estimates

Indonesian palm oil output exceeds estimates

A dramatic rise in Indonesia's palm oil exports this year may mean the country's palm oil production may be higher than expected, Hamburg-based oilseeds analysts Oil World said on Tuesday.
Published 16 Jul, 2008 12:00am
FBR starts top management restructuring

FBR starts top management restructuring

The Federal Board of Revenue (FBR) has started restructuring of top management for reducing number of Members reporting to the Chairman under Tax Administration Reform Project (TARP). Sources told Business Recorder on Tuesday that the designations
Published 16 Jul, 2008 12:00am
US wheat futures fall in light volume

US wheat futures fall in light volume

US wheat futures closed lower in light volume Monday, pressured by the continuing US harvest, expectations of a record large world crop and spillover weakness from corn and soybeans, traders said. "It was a weak trade. The bottom line is we've got plenty
Published 16 Jul, 2008 12:00am
FBR starts top management restructuring

FBR starts top management restructuring

The Federal Board of Revenue (FBR) has started restructuring of top management for reducing number of Members reporting to the Chairman under Tax Administration Reform Project (TARP). Sources told Business Recorder on Tuesday that the designations
Published 16 Jul, 2008 12:00am
Business activity increases on cotton market

Business activity increases on cotton market

Mills and spinners' demand improved on cotton market on Tuesday as prices showed easier trend due to expectations of good crop for the new season, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 3650, they said.
Published 16 Jul, 2008 12:00am
Bangladesh tea prices fall on poor quality

Bangladesh tea prices fall on poor quality

The average price of Bangladesh teas fell 1.95 percent to 131.04 taka ($1.91) per kg due to poor quality at the weekly auction on Tuesday, brokers said. Some 1.34 million kg were sold at 131.04 taka per kg on average, down 2.60 taka from the last sale. Th
Published 16 Jul, 2008 12:00am