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Print - 2008-08-16
IHC upholds Munda Dam project contract

IHC upholds Munda Dam project contract

The Islamabad High Court here on Friday rejected a plea for a stay order against construction of Munda Dam hydro-project and upheld the Federation's decision to award the contract to Water and Power Development Authority (Wapda). The decision, written by
Published 16 Aug, 2008 12:00am
The Weather

The Weather

The weather report on Friday (August 15, 2008) and the forecast for Saturday (August 16, 2008).

Published 16 Aug, 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 16 Aug, 2008 12:00am
IPDF praises role of public private partnerships

IPDF praises role of public private partnerships

While expressing satisfaction over new initiatives taken to develop infrastructure in various sectors through public-private partnership, the head of the IPDF says more foreign investments will come in to the country through efforts being taken by IPDF, M
Published 16 Aug, 2008 12:00am
Pakistan and India to help boost Malaysian palm oil export

Pakistan and India to help boost Malaysian palm oil export

Pakistan and India are set to help Malaysia increase its palm oil exports with festival season - holy month of Ramazan and Hindu festival Holi - beginning in both countries in September. To add to that, Malaysia is all set to have a bumper palm oil produc
Published 16 Aug, 2008 12:00am
Experts warn of monsoon-related diseases

Experts warn of monsoon-related diseases

Several cases of monsoon-related diseases like malaria, gastro-enteritis, leptospirosis, dengue and viral fever are being reported at hospitals and private clinics, compelling doctors to issue warnings and precautionary measures to the public.
Published 16 Aug, 2008 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (August 15, 2008).

Published 16 Aug, 2008 12:00am
CNG dealers threaten to close businesses

CNG dealers threaten to close businesses

All Pakistan CNG Dealers Association has threatened to shutdown businesses, if the government fixes its rate at Rs 40 per kg. The Chairman, All Pakistan CNG Dealers Association, Abdul Sami Khan said this in a press conference on Friday. He said that sever
Published 16 Aug, 2008 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (August 15, 2008).

Published 16 Aug, 2008 12:00am
ABL launches e-remittance services

ABL launches e-remittance services

Allied Bank has rolled out its state-of-the-art 'e-remittance' services to facilitate international remittances sent to Pakistan by overseas Pakistanis. Speaking on the occasion, Mohammad Aftab Manzoor, CEO, Allied Bank said.
Published 16 Aug, 2008 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (August 15, 2008).

Published 16 Aug, 2008 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Friday (August 15, 2008) and for Saturday (August 16, 2008).
Published 16 Aug, 2008 12:00am
Barclays Bank installs state of the art IBM systems

Barclays Bank installs state of the art IBM systems

Barclays Bank PLC has signed an agreement with IBM Business Partner whereby IBM will provide IBM System p and IBM System Storage products. Barclays Bank chose one of the fastest growing IBM's products that are extensively penetrating in the banking indust
Published 16 Aug, 2008 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (August 15, 2008).

Published 16 Aug, 2008 12:00am
Sindh University to hold admission tests on Sunday

Sindh University to hold admission tests on Sunday

The Director of Admissions for the University of Sindh has announced on Friday that the pre-entry test for admissions to the MS/M.Phil program for session 2008 will be conducted on Sunday, August, 17 at 10.00 am.
Published 16 Aug, 2008 12:00am
'Sindh working to gain control of archaeological sites from centre'

'Sindh working to gain control of archaeological sites from centre'

Sindh Minister for Culture and Tourism Sussi Palejo has said that Pakistan is rapidly heading towards real democracy because of the great scarifies rendered by Pakistan Peoples Party's leaders and workers. She added that it would take very little time for
Published 16 Aug, 2008 12:00am
Abraaj Capital names Farrukh Abbas chief executive for Pakistan

Abraaj Capital names Farrukh Abbas chief executive for Pakistan

Abraaj Capital, the largest private equity company in the Middle East and North Africa, appointed Farrukh Abbas to head up its operations in Pakistan where South Asia's second-largest economy is expected to grow at six percent or more for the next five ye
Published 16 Aug, 2008 12:00am
Abraaj Capital names Farrukh Abbas chief executive for Pakistan

Abraaj Capital names Farrukh Abbas chief executive for Pakistan

Abraaj Capital, the largest private equity company in the Middle East and North Africa, appointed Farrukh Abbas to head up its operations in Pakistan where South Asia's second-largest economy is expected to grow at six percent or more for the next five ye
Published 16 Aug, 2008 12:00am
DAG put on notice in a case against KPT

DAG put on notice in a case against KPT

A division bench of Sindh High Court (SHC) comprising Acting Chief Justice Azizullah M. Memon and Justice Khalid Ali G Qazi on Friday put Deputy Attorney General (DAG) on notice for September 10 in a constitution petition against Ministry of Ports and Shi
Published 16 Aug, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (August 15, 2008).

Published 16 Aug, 2008 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

Migration still continues in Pakistan after sixty year, says Aftab Ahmed Sherpo as his words pulled the attention of MNAs and few in the press gallery wishing to hear what the former Interior Minister was referring to.
Published 16 Aug, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (August 15, 2008).

Published 16 Aug, 2008 12:00am
PPP hold rally for impeachment of President

PPP hold rally for impeachment of President

The Pakistan Peoples Party - Human Rights Wing on Friday organised a "Go- Musharraf Go" rally under the leadership of Provincial Chief Salim-ur-Rehman Mayo, Zubaida Khokhar and Mirza Nazir Baig. The Rally ended at Farooqpura Chowk, while participants shou
Published 16 Aug, 2008 12:00am
Airblue inducts two A319 airbuses into its fleet

Airblue inducts two A319 airbuses into its fleet

Airblue has formally inducted two A319 airbuses into its fleet. This was announced by Syed Nasir Ali, Managing Director, Airblue in a ceremony on Friday. He said after the induction of two more new aircraft in its fleet, Airblue has now eight aircraft. Ai
Published 16 Aug, 2008 12:00am
FBR facing problems in implementing PCA system

FBR facing problems in implementing PCA system

The Federal Board of Revenue (FBR) is facing serious problems in the implementation of one of their major reform projects, the Post Clearance Audit (PCA) of importers in Karachi and Lahore. Sources told Business Recorder on Friday that there are no
Published 16 Aug, 2008 12:00am
THE RUPEE: dollar hits new high at 76.40

THE RUPEE: dollar hits new high at 76.40

The rupee fell to an all-time low against dollar on Friday on the currency market following the talks that President Pervais Musharraf may resign, money experts said. The Financial Times said on Friday Musharraf will resign rather than face impeachment by
Published 16 Aug, 2008 12:00am
POL prices unchanged

POL prices unchanged

Oil and Gas Regulatory Authority (Ogra) has decided not to raise petroleum products' prices for the next fortnight, declared a notification issued on Friday night. According to the said notification HOBC would be sold at Rs 96.08, petrol at Rs 86.66, Ligh
Published 16 Aug, 2008 12:00am
THE RUPEE: dollar hits new high at 76.40

THE RUPEE: dollar hits new high at 76.40

The rupee fell to an all-time low against dollar on Friday on the currency market following the talks that President Pervais Musharraf may resign, money experts said. The Financial Times said on Friday Musharraf will resign rather than face impeachment by
Published 16 Aug, 2008 12:00am
NBP raises employees' allowance by 17 percent

NBP raises employees' allowance by 17 percent

National Bank of Pakistan management on Friday said that in view of the rising cost of living, it has allowed an increase upto 17 percent to all its employees by way of dearness allowance. This decision has been welcomed by all the employees and their rep
Published 16 Aug, 2008 12:00am
HBL's security guards break lockers, loot ornaments

HBL's security guards break lockers, loot ornaments

Karachi Police has arrested three security guards of Habib Bank Ltd, who had broken lockers of the bank on the eve of independence day and looted millions of rupees, gold ornaments and other precious items. Two guards are still at large, Aaj TV rep
Published 16 Aug, 2008 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Friday (August 15, 2008).

Published 16 Aug, 2008 12:00am
Karsaz blast case: SHC adjourns state appeal till August 28

Karsaz blast case: SHC adjourns state appeal till August 28

Justice Syed Mahmood Alam Rizvi of Sindh High Court (SHC) on Friday adjourned the hearing of an appeal filed by State against orders of the then District and Sessions Judge, East directing police to lodge version of Benazir Bhutto in respect of Karzas twi
Published 16 Aug, 2008 12:00am
Exporters advised to follow quality standards

Exporters advised to follow quality standards

The Collector Export, Rubina Wasti has said that the collectorate will strictly follow the quality standard of exportable goods. Speaking in a meeting of Karachi Chamber of Commerce and Industry (KCCI), she advised business community to follow quality sta
Published 16 Aug, 2008 12:00am
Overloading of data: e-filing system fails to respond to taxpayers

Overloading of data: e-filing system fails to respond to taxpayers

Pakistan is the only country where e-filing of sales tax and federal excise returns has been made mandatory by Federal Board of Revenue (FBR) for the taxpayers. Tax experts told Business Recorder on Friday that the best international tax administra
Published 16 Aug, 2008 12:00am
Foreign reserves fall below ten billion dollar level

Foreign reserves fall below ten billion dollar level

Country's foreign exchange reserves have come down below the 10 billion dollar mark with a decline of 239 million dollars during the last week due to slow foreign inflows and huge payments. State bank of Pakistan (SBP) on Friday informed that country's fo
Published 16 Aug, 2008 12:00am
Lawyers call for Musharraf's trial

Lawyers call for Musharraf's trial

The legal fraternity on Friday called for trial of President Parvez Musharraf, saying that a safe exit or indemnity to his deeds would set a bad precedent in the country. Addressing media after the meeting of National Co-ordination Council of Lawyers, Ait
Published 16 Aug, 2008 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 16 Aug, 2008 12:00am
Punjab government to announce package for poor in Ramazan

Punjab government to announce package for poor in Ramazan

Punjab government in order to support the poor segment of the society economically would give a package for them in Ramazan. Punjab Minister Mujataba Shuja-u-Rehman dilated this in the eighth session of the Assembly here on Friday. The minister speaking a
Published 16 Aug, 2008 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Friday (August 15, 2008).

Published 16 Aug, 2008 12:00am
Musharraf will get meagre support in National Assembly: minister

Musharraf will get meagre support in National Assembly: minister

"Pervez Musharraf is being made a symbol of remorse through the political process, as in Parliament he will not be able to obtain sufficient votes except for the meagre support of the Q-League" said a Provincial Minister. Muhammad Khan Sohna, Punjab Minis
Published 16 Aug, 2008 12:00am
'No one can save Musharraf from impeachment'

'No one can save Musharraf from impeachment'

Punjab Population Welfare Minister Neelam Jabbar Chaudhry has said on Friday that no one can save President Pervez Musharraf from impeachment and all the escape routes are now close for him.
Published 16 Aug, 2008 12:00am
Shahbaz agrees posting of CPSP fellows at DHQs

Shahbaz agrees posting of CPSP fellows at DHQs

Punjab Chief Minister Mian Shahbaz Sharif has agreed in principle for posting of doctors doing fellowship at College of Physicians and Surgeons Pakistan (CPSP) at the district headquarter hospitals for at least six months period. The College of Physicians
Published 16 Aug, 2008 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 16 Aug, 2008 12:00am
Abdullah Shah Urs begins today

Abdullah Shah Urs begins today

The three-day Urs of Hazrat Abdullah Shah Ashabi will begin here at Makli from Saturday (tomorrow). The Chief Administrator Auqaf Sindh Qazi Shahid Pervez will lay a 'Chaddar' at the Mazar tomorrow marking the start of the Urs.
Published 16 Aug, 2008 12:00am
Balochistan Assembly passes impeachment Resolution

Balochistan Assembly passes impeachment Resolution

The Balochistan Assembly (BA) on Friday passed unanimously a resolution demanding of President Pervez Musharraf to seek vote of confidence from his electoral college or step down immediately. The joint resolution, which is considered to be a step towards
Published 16 Aug, 2008 12:00am
Coalition partners, people to decide Musharraf's fate: Zardari

Coalition partners, people to decide Musharraf's fate: Zardari

Co-Chairman Pakistan Peoples Party Senator Asif Ali Zardari on Friday said that it is up to the leadership of coalition partners and the people of Pakistan to decide the fate of President Musharraf after he is impeached.
Published 16 Aug, 2008 12:00am
PPP has good relationship with MQM: Tauqeer Fatima

PPP has good relationship with MQM: Tauqeer Fatima

Sindh Minister for Women's Development Taqueer Fatema Bhutto has said that her party has a good working relationship with the MQM, adding that it has been proven by MQM support for PPP policies. She was talking to the media while visiting a Women's Jail i
Published 16 Aug, 2008 12:00am
Senate panel to visit US to meet Dr Aafia: Mushahid

Senate panel to visit US to meet Dr Aafia: Mushahid

A Senate delegation comprising members of the Senate Committees on Foreign Affairs and Human Rights will visit US to meet Dr Aafia Siddiqui, a Pakistani doctor in the US custody. The delegation will also visit Guantanamo Bay to meet seven Pakistani prison
Published 16 Aug, 2008 12:00am
Senate panel to visit US to meet Dr Aafia: Mushahid

Senate panel to visit US to meet Dr Aafia: Mushahid

A Senate delegation comprising members of the Senate Committees on Foreign Affairs and Human Rights will visit US to meet Dr Aafia Siddiqui, a Pakistani doctor in the US custody. The delegation will also visit Guantanamo Bay to meet seven Pakistani prison
Published 16 Aug, 2008 12:00am
UN urged to take notice of Indian brutalities in IoK

UN urged to take notice of Indian brutalities in IoK

A parliamentary delegation comprising Senator Mushahid Hussain Sayed, Senator Muhammad Ali Durrani, Senator Talha Mahmood and Senator Abbas Kumaili on Friday visited the United Nations (UN) mission in the federal capital and urged the international commun
Published 16 Aug, 2008 12:00am
Senate body for an end to ISF brutalities against Kashmiris

Senate body for an end to ISF brutalities against Kashmiris

The Senate Standing Committee on Foreign Affairs, Kashmir Affairs and Northern Areas and the Functional Committee on Human Rights in the Senate of Pakistan has adopted a resolution over the loss of precious lives in held Kashmir during recent brutalities
Published 16 Aug, 2008 12:00am
35 prisoners handed over to Indian officials

35 prisoners handed over to Indian officials

As a goodwill gesture on Indian Independence Day, as many as 35 Indian prisoners including 34 fishermen and one civilian were handed over to Indian authorities on Friday. The Indian prisoners were handed over to the Indian officials at the Wagah border. T
Published 16 Aug, 2008 12:00am
Leadership decision up to Pakistanis: White House

Leadership decision up to Pakistanis: White House

The White House on Thursday underscored that it was up to the Pakistanis to decide about leadership of their country, with a senior official also saying that moving forward on impeachment proceedings appeared to be within Pakistan's constitution.
Published 16 Aug, 2008 12:00am
Refineries'' output down three percent in July

Refineries'' output down three percent in July

Local refineries'' oil production declined by 3 percent to 833,000 tons in July 2008 as compared to 855,000 tons of July 2007. According to analysts, lower production was due to 14 percent decline in furnace oil (FO) production. All major refineries, exce
Published 16 Aug, 2008 12:00am
Refineries' output down three percent in July

Refineries' output down three percent in July

Local refineries' oil production declined by 3 percent to 833,000 tons in July 2008 as compared to 855,000 tons of July 2007. According to analysts, lower production was due to 14 percent decline in furnace oil (FO) production. All major refineries, excep
Published 16 Aug, 2008 12:00am
Refineries' output down three percent in July

Refineries' output down three percent in July

Local refineries' oil production declined by 3 percent to 833,000 tons in July 2008 as compared to 855,000 tons of July 2007. According to analysts, lower production was due to 14 percent decline in furnace oil (FO) production. All major refineries, excep
Published 16 Aug, 2008 12:00am
29 kitchen items became dearer during last week

29 kitchen items became dearer during last week

The weekly SPI inflation surged by 31.48 percent in the week ending on August 13, over the same period of last year, because of increase in the prices of 29 essential commodities, according to Federal Bureau of Statistics.
Published 16 Aug, 2008 12:00am
29 kitchen items became dearer during last week

29 kitchen items became dearer during last week

The weekly SPI inflation surged by 31.48 percent in the week ending on August 13, over the same period of last year, because of increase in the prices of 29 essential commodities, according to Federal Bureau of Statistics.
Published 16 Aug, 2008 12:00am
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