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Nov 25, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-09-02
China bond yields fall sharply

China bond yields fall sharply

Longer-term Chinese government bond yields fell sharply on Monday, with the 15-year yield sinking 9 basis points, its biggest drop since early February, because of signs of slowing economic growth. But interest rate swaps did not fall because money market
Published 02 Sep, 2008 12:00am
Hong Kong shares down

Hong Kong shares down

Hong Kong shares started the new month on a weak note, falling 1.6 percent in wafer-thin volumes on Monday, as lingering worries over slowing corporate profitability sparked further selling of blue chip stocks. Shares in Chinese PC maker Lenovo Group tumb
Published 02 Sep, 2008 12:00am
JGBs slide as market girds for 10-year auction

JGBs slide as market girds for 10-year auction

Japanese government bonds tumbled on Monday, pushing the benchmark 10-year yield up from a four-month low, as market players shed holdings to make room in their portfolios before a debt auction. The market was also hit as speculators took short positions
Published 02 Sep, 2008 12:00am
JGBs slide as market girds for 10-year auction

JGBs slide as market girds for 10-year auction

Japanese government bonds tumbled on Monday, pushing the benchmark 10-year yield up from a four-month low, as market players shed holdings to make room in their portfolios before a debt auction. The market was also hit as speculators took short positions
Published 02 Sep, 2008 12:00am
Nikkei slips on exporters

Nikkei slips on exporters

Japan's Nikkei stock average shed 1.8 percent on Monday, its biggest one-day percentage loss in nearly two weeks, as Honda Motor Co and other exporters fell on worries about the economy and a slightly stronger yen. Kyocera Corp and tech shares fell on con
Published 02 Sep, 2008 12:00am
Australian dollar subdued by risk aversion

Australian dollar subdued by risk aversion

The Australian dollar hovered close to 11-month lows against a firm US currency on Monday, and hit a five-month low against the yen on the back of a fresh bout of risk aversion. Domestic economic data was mixed, doing little to change expectations of only
Published 02 Sep, 2008 12:00am
Swiss franc up versus euro

Swiss franc up versus euro

The Swiss franc inched up against the euro on Monday ahead of the Swiss PMI as low-yielding currencies such as the franc benefited from the unwinding of carry trades. "The carry trade unwinding is stabilising the franc," Unicredit analyst Armin Mekelburg
Published 02 Sep, 2008 12:00am
Sterling tumbles on UK economy concern

Sterling tumbles on UK economy concern

Sterling fell versus the dollar to its lowest level in more than two years and slid to a record low against the euro on Monday, after Britain's finance minister said the country's economic downturn might be the worst in 60 years.
Published 02 Sep, 2008 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 68.52/68.52 (previous 68.52/68.52). Call Money Rates: 6.25-12.00 percent (previous 4.00-12.00 percent).
Published 02 Sep, 2008 12:00am
Asian currencies: South Korean won falls three percent

Asian currencies: South Korean won falls three percent

Asian currencies dropped on Monday against a broadly firmer dollar as regional stocks slid amid concerns about the global economy, with the South Korean won leading the declines and hitting a four-year low. The won tumbled as far as 1,123.6 per dollar, do
Published 02 Sep, 2008 12:00am
Chinese yuan ends up

Chinese yuan ends up

China's yuan closed higher against the dollar on Monday, despite weakness in other Asian currencies, after the central bank fixed a stronger-than-expected yuan mid-point, signalling it did not want the currency to enter a downtrend for now. "Many of our c
Published 02 Sep, 2008 12:00am
Haider drops firebrand image in Austrian comeback

Haider drops firebrand image in Austrian comeback

Right-wing populist Joerg Haider, staging a national comeback, aims to boost his party's fortunes in Austria's September 28 snap election but without the firebrand politics that once made waves across Europe. Gone are the xenophobic outbursts and the apol
Published 02 Sep, 2008 12:00am
Films flounder as Venice festival hits halfway

Films flounder as Venice festival hits halfway

Blame it on the Hollywood writers' strike, the weak economy, or just plain bad luck. Whatever the reason, the 2008 Venice film festival has been described as one of the weakest in recent years, and, as it reaches the halfway stage on Monday, needs more hi
Published 02 Sep, 2008 12:00am
Bolivian president in Iran for investment talks

Bolivian president in Iran for investment talks

Bolivian President Evo Morales arrived in Iran on Monday to discuss Iranian investment in his country, in the latest sign of strengthening ties between the Islamic Republic and leftist South American governments. Iranian President Mahmoud Ahmadinejad, see
Published 02 Sep, 2008 12:00am
Mauritanian junta unveils cabinet after coup

Mauritanian junta unveils cabinet after coup

Mauritania's military rulers, facing criticism at home and abroad of their August 6 coup, unveiled a new government on Monday nearly a month after taking power in the Saharan Islamic state. The announcement of the 22-minister cabinet followed difficult ne
Published 02 Sep, 2008 12:00am
Bahrain names envoy to Iraq amid warming Gulf ties

Bahrain names envoy to Iraq amid warming Gulf ties

Bahrain on Sunday named its first ambassador to Iraq since the 2003 US-led invasion, the latest sign of warming ties between Baghdad and its Gulf Arab neighbours. King Hamad bin Isa al-Khalifa named career diplomat Salah al-Malki to the post, the official
Published 02 Sep, 2008 12:00am
Thai state unions plan strike to force Prime Minister out

Thai state unions plan strike to force Prime Minister out

Thailand's public sector unions threatened a nation-wide strike this week, piling more pressure on Prime Minister Samak Sundaravej to resign as protesters occupied his official compound for a seventh day on Monday. Union leaders representing 200,000 worke
Published 02 Sep, 2008 12:00am
Platinum falls almost four percent

Platinum falls almost four percent

Spot platinum fell almost 4 percent to a one-week low of $1,418.50 per ounce on Monday on renewed concerns about demand for the white metal, while a sell-off in Asian stock markets helped undermine sentiment. Some automakers facing financial difficulty ap
Published 02 Sep, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 125,267 tonnes of cargo including 91,192 tonnes of import, 34,075 tonnes of export cargo and 5,538 loaded and empty containers (TEUs) during last 24 hours ending at 0700 hours on Monday. The freights comprised of 63,868 tonnes of
Published 02 Sep, 2008 12:00am
Brazil's ethanol output may triple by 2020

Brazil's ethanol output may triple by 2020

Brazil's total ethanol output might triple by 2020, a senior Brazilian sugar cane industry official said on Monday, adding that ethanol exports jumped 20 percent in the first half of 2008 versus a year ago.
Published 02 Sep, 2008 12:00am
Gunmen in Nigeria release Israeli hostage

Gunmen in Nigeria release Israeli hostage

Gunmen in Nigeria released an Israeli expatriate on Monday, nearly a week after he was kidnapped from his home in Nigeria's oil hub, police and security officials said. Four gunmen abducted the 60-year-old project manager, who works for Israeli constructi
Published 02 Sep, 2008 12:00am
Gustav overshadows McCain's Republicans' show

Gustav overshadows McCain's Republicans' show

Republicans open their convention on Monday to nominate presidential candidate John McCain with no pomp and little politics, shelving the usual celebration out of deference to the approaching threat of Hurricane Gustav. Fearing televised images of Republi
Published 02 Sep, 2008 12:00am
Qadhafi hails full US ties after 39 years in power

Qadhafi hails full US ties after 39 years in power

Libyan leader Moamer Qadhafi said his regime's long estrangement from the United States was finally over as he marked the 39th anniversary on Monday of his overthrow of the Western-backed monarchy. "The whole business of the conflict between Libya and the
Published 02 Sep, 2008 12:00am
Cyprus launches historic talks for peace deal

Cyprus launches historic talks for peace deal

Cyprus leaders launch talks on Wednesday to reunite the island in what diplomats say is the best chance in decades to end a conflict threatening Turkey's European Union aspirations. Mediators are pinning their hopes on two moderates - newly elected Greek
Published 02 Sep, 2008 12:00am
Chavez threatens to expel US ambassador

Chavez threatens to expel US ambassador

Venezuelan President Hugo Chavez threatened to expel the US ambassador in a dispute over drug-trafficking that could worsen already frayed ties between the South American nation and its biggest oil customer. Chavez, who spars with the United States over e
Published 02 Sep, 2008 12:00am
Million Georgians rally against Russian 'aggression'

Million Georgians rally against Russian 'aggression'

More than one million Georgians across the ex-Soviet republic protested on Monday against Russian military action and the Kremlin's backing for the country's two separatist regions. Many waving the red-and-white Georgian flag, protesters linked arms in th
Published 02 Sep, 2008 12:00am
Iran says has not bought Russian missiles

Iran says has not bought Russian missiles

Iran denied on Monday it had bought Russia's advanced S-300 anti-aircraft missile system, after Israeli defence sources said the Islamic Republic could take delivery of the weapons by the end of the year. Western and Israeli experts have said that if Tehr
Published 02 Sep, 2008 12:00am
Dalai Lama leaves hospital

Dalai Lama leaves hospital

The Dalai Lama left hospital in Mumbai on Monday morning after being treated for abdominal pain, smiling and waving to waiting photographers. The exiled Tibetan spiritual leader put his hands together in a traditional greeting before getting into a white
Published 02 Sep, 2008 12:00am
India struggles to cope with flood catastrophe

India struggles to cope with flood catastrophe

India battled Monday to reach at least half a million people stranded by floods without food or drinking water, as the military poured fresh troops into the country's devastated north. Two weeks after the monsoon-swollen Kosi river from Nepal breached flo
Published 02 Sep, 2008 12:00am
Sri Lanka fighting kills 84, air strikes hit rebels

Sri Lanka fighting kills 84, air strikes hit rebels

Sri Lankan jets and helicopters blasted Tamil Tiger rebel positions on Monday after three days of combat killed at least 84 people, part of a military offensive towards the separatists' de facto capital. Fighting since Friday killed 70 insurgents and woun
Published 02 Sep, 2008 12:00am
Ban says insufficient progress made on water

Ban says insufficient progress made on water

One billion people world-wide lack access to safe drinking water and countries must try harder to reach their goals on sanitation, UN Secretary-General Ban Ki-Moon said on Monday. "There has been progress towards achieving the water and sanitation Millenn
Published 02 Sep, 2008 12:00am
EU warns Russia on ties, but no sanctions for now

EU warns Russia on ties, but no sanctions for now

The European Union will warn Russia on Monday that relations could suffer in future if Moscow does not uphold accords to end the Georgia conflict, according to a draft summit statement that shied away from sanctions.
Published 02 Sep, 2008 12:00am
Dollar index at 2008 high

Dollar index at 2008 high

The dollar rose on Monday to its highest this year against a basket of major currencies, boosted by a sharp fall in oil prices, while sterling extended its recent slide and fell to new record lows against the euro. The rise in the dollar's broad value pus
Published 02 Sep, 2008 12:00am
Sterling hits record low versus euro

Sterling hits record low versus euro

Sterling extended its losing streak on Monday, hitting record lows against the euro and 28-month lows against the dollar after the UK finance minister said the economic outlook was its most challenging in 60 years. Dismal housing data from property consul
Published 02 Sep, 2008 12:00am
Indian rupee at lowest since March 2007

Indian rupee at lowest since March 2007

The Indian rupee closed at its lowest level against the dollar in nearly 1-1/2 years on Monday as importers stepped up dollar purchases and as a record monthly trade deficit weakened sentiment. The trade deficit in July was $10.8 billion, widening from $9
Published 02 Sep, 2008 12:00am
Copper down 3.2 percent

Copper down 3.2 percent

Copper futures fell 3.2 percent on Monday under pressure from gains in the dollar, rising London Metal Exchange stocks and worries about demand. Zinc eased but Hurricane Gustav was seen as a potential threat to LME warehouses, analysts said. "The stronger
Published 02 Sep, 2008 12:00am
Oil plunges over $4 as Gustav hits US Gulf Coast

Oil plunges over $4 as Gustav hits US Gulf Coast

Oil plunged more than $4 on Monday as concerns that Hurricane Gustav would cause severe damage to the US oil sector eased after the storm weakened before hitting the Louisiana coast. Gustav - which forced more than a quarter of the United States' refining
Published 02 Sep, 2008 12:00am
London coffee, cocoa tumble

London coffee, cocoa tumble

Coffee, cocoa and sugar prices eased on Monday as a strong dollar and sharp setback in crude oil prompted broad-based declines in commodity markets. Some dealers said the significance of the move was lessened by the closure of US markets for Labour Day an
Published 02 Sep, 2008 12:00am
Gold falls in London

Gold falls in London

Gold fell on Monday as hopes Hurricane Gustav would do less damage than first feared to the Louisiana coast bolstered the dollar and pressured oil prices. Platinum tumbled almost 4 percent as poor car sales and a slowing US economy weighed on the metal, w
Published 02 Sep, 2008 12:00am
European spreads recover partly as oil prices fall

European spreads recover partly as oil prices fall

European credit spreads were modestly wider in thin trade on Monday but recovered partly from earlier wides as oil prices declined on easing fears Hurricane Gustav would produce a Katrina-scale disaster, a trader said. By 1443 GMT, the investment-grade Ma
Published 02 Sep, 2008 12:00am
European spreads recover partly as oil prices fall

European spreads recover partly as oil prices fall

European credit spreads were modestly wider in thin trade on Monday but recovered partly from earlier wides as oil prices declined on easing fears Hurricane Gustav would produce a Katrina-scale disaster, a trader said. By 1443 GMT, the investment-grade Ma
Published 02 Sep, 2008 12:00am
Indian shares down

Indian shares down

Indian shares closed down 0.45 percent on Monday, as weak Asian markets and firm oil prices weighed the markets down, dealers said. The benchmark 30-share Sensex index fell 66.02 points to 14,498.51, off the day's low of 14,281.1. "The markets were largel
Published 02 Sep, 2008 12:00am
Asian bond spread widen

Asian bond spread widen

Thailand's bond spreads widened on Monday as continued protests against the prime minister intensified concerns about political instability, while Malaysia's debt was hit by uncertainty over its fiscal standing.
Published 02 Sep, 2008 12:00am
Asian bond spread widen

Asian bond spread widen

Thailand's bond spreads widened on Monday as continued protests against the prime minister intensified concerns about political instability, while Malaysia's debt was hit by uncertainty over its fiscal standing.
Published 02 Sep, 2008 12:00am
US markets closed

US markets closed

The US stocks, financial and commodity markets were closed on Monday due to Labour Day holiday. The trading will resume on Tuesday.
Published 02 Sep, 2008 12:00am
Singapore shares easier

Singapore shares easier

Singapore shares closed 0.95 percent lower on Monday in quiet trade ahead of key US economic data, dealers said. The blue chip Straits Times Index (STI) closed down 26.16 points at 2,713.79 on volume of 636 million shares worth 741 million dollars (520 mi
Published 02 Sep, 2008 12:00am
UK's top share index falls

UK's top share index falls

Britain's leading share index ended 0.6 percent lower on Monday, lacking any lead from Wall Street which is closed for the Labour Day holiday, with energy stocks tracking weaker crude after Hurricane Gustav was downgraded. The FTSE 100 closed down 33.8 po
Published 02 Sep, 2008 12:00am
Lawyers continue token strike

Lawyers continue token strike

The lawyers in the provincial capital continued their token strike for the restoration of deposed judges, here on Monday. Lahore High Court Bar Association (LHCBA) and District Bar Association observed full day strike following the decision of Pakistan Ba
Published 02 Sep, 2008 12:00am
Government mulling over developing special economic zones: BoI

Government mulling over developing special economic zones: BoI

Pakistan has been focusing on the improvement of infrastructure and was engaged in framing a policy for the development of special economic zones (SEZs), official in the Investment Division and Board of Investment (ID&BoI) said.
Published 02 Sep, 2008 12:00am
Flour at cheaper price being ensured in Punjab

Flour at cheaper price being ensured in Punjab

Punjab Food Minister Malik Nadeem Kamran has said that provincial government was taking steps to ensure the supply of flour at cheaper price, while more than 350 flourmills have started getting their quota. Talking to a private television channel, he said
Published 02 Sep, 2008 12:00am
Use of force in occupied Kashmir condemned

Use of force in occupied Kashmir condemned

In Brussels, Sajjad Karim MEP, spokesperson on legal affairs and Member of the Subcommittee on Human Rights Committee of the European Parliament has expressed grave concern over the resurgence of tension and use of excessive force by Indian troops and pol
Published 02 Sep, 2008 12:00am
Ramazan package tremendous relief: USC Managing Director

Ramazan package tremendous relief: USC Managing Director

Utility Stores Corporation (USC) Managing Director Brigadier Hafeez Ahmed (Retd) here on Sunday night termed the relief package a tremendous one, announced by the government under the Ramazan package to the people specially the poor segment of the society
Published 02 Sep, 2008 12:00am
FBR clarification

FBR clarification

The Federal Board of Revenue has clarified that the "manufacturer-cum-exporter," covers a person whose exports for the preceding tax year constitute 80 percent or more of the manufactured goods.
Published 02 Sep, 2008 12:00am
EU and UN urged to help stop carnage of Kashmiris in IHK

EU and UN urged to help stop carnage of Kashmiris in IHK

Sajjad Karim MEP, spokesperson on legal affairs and member of the sub-committee on human rights committee of the European Parliament has expressed concern over the resurgence of tension and use of excessive force by Indian occupation troops and police in
Published 02 Sep, 2008 12:00am
Petroleum prices to remain unchanged for next 15 days

Petroleum prices to remain unchanged for next 15 days

The Oil and Gas Regulatory Authority (Ogra) has issued a notification of maintaining the prices of petroleum products for the next 15 days. As per the notification, prices of motor spirit Rs 86.66, HOBC 96.08, kerosene oil 58.37 and light diesel 56.50 wil
Published 02 Sep, 2008 12:00am
Curfew continues on ninth day in occupied Kashmir

Curfew continues on ninth day in occupied Kashmir

In occupied Kashmir, curfew remained clamped on ninth conservative day on Monday. The curfew, which was relaxed in a phased manner over few hours in the Kashmir Valley, was re-imposed following pro-liberation and anti-India demonstrations in all towns and
Published 02 Sep, 2008 12:00am
Democracy, politics and morality

Democracy, politics and morality

An American theologian in his foreword on "Children of Light and children of Darkness" wrote, "Man's capacity for justice makes democracy possible, but man's inclination to injustice makes democracy necessary". Politics within a democratic environment can
Published 02 Sep, 2008 12:00am
Australia shares world's economic woes

Australia shares world's economic woes

Things must be bad: revenues at Sydney's Star City casino are down by a quarter as the comfort blanket of a red-hot resources sector slips away and more people feel the chill of the global financial freeze. Times must be good: the Queensland state governm
Published 02 Sep, 2008 12:00am
Georgia crisis threatens EU bid for more energy sources

Georgia crisis threatens EU bid for more energy sources

Europe's declared goal to shift away from Russian oil and gas was always a challenge. It's even more difficult after Moscow's assault on Georgia, analysts say. Georgia's strategic role as a pipeline transit country, run by a US-backed leadership that Mosc
Published 02 Sep, 2008 12:00am
Estimates of the problem of poverty

Estimates of the problem of poverty

In a recently released report on internationally comparable poverty estimates, the Asian Development Bank (ADB) has set a new Asian Poverty Line at 1.35 dollars a day income. It also says the previous one-dollar-a-day income standard remains an appropriat
Published 02 Sep, 2008 12:00am
Invigorating agricultural growth

Invigorating agricultural growth

Speakers at the recent inauguration of a kitchen garden promotion campaign at the Lahore Chamber of Commerce and Industry regretted the fact that the agriculture sector's share in the GDP has fallen from 38 percent to 20 percent of the GDP while the livel
Published 02 Sep, 2008 12:00am
ADB lending, largesse or self-interest?

ADB lending, largesse or self-interest?

The Asian Development Bank (ADB) is due to release 500 million dollars as part of the 1.3 billion dollar loan programme for Pakistan for the current year. A programme loan is essentially used for budgetary support and contains a set of rather ambitious po
Published 02 Sep, 2008 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

Pakistan image was tarnished in the international community when it was widely reported last week by local as well as foreign media that burying alive of five women in Balochistan was defended in Senate. The lawmakers were prompt on Monday to correct this
Published 02 Sep, 2008 12:00am
Hectic activity underway for presidential polls

Hectic activity underway for presidential polls

With only a few days left in the presidential election, hectic political activity was witnessed in Lahore to muster support for candidates for presidential post. Those vying for the prestigious slot of the President are PPP Co-Chairperson Asif Ali Zardari
Published 02 Sep, 2008 12:00am
DCO lauds TMA Khanewal

DCO lauds TMA Khanewal

District Co-ordination Officer (DCO) Qazi Muhammad Ishfaq has expressed satisfaction over the weeklong cleanliness drive in Khanewal. The DCO felicitated Tehsil Municipal Administration (TMA) for its devoted efforts to render the drive a success. He appre
Published 02 Sep, 2008 12:00am
Bank Alfalah second quarter profit increases to Rs 821.245 million

Bank Alfalah second quarter profit increases to Rs 821.245 million

The profit after tax of Bank Alfalah Limited has increased to Rs 821.245 million in the quarter ended June 30, 2008 as compared to Rs 568.927 million earned in the corresponding period last year. The board of directors of the bank in its meeting declared
Published 02 Sep, 2008 12:00am
Bank Alfalah second quarter profit increases to Rs 821.245 million

Bank Alfalah second quarter profit increases to Rs 821.245 million

The profit after tax of Bank Alfalah Limited has increased to Rs 821.245 million in the quarter ended June 30, 2008 as compared to Rs 568.927 million earned in the corresponding period last year. The board of directors of the bank in its meeting declared
Published 02 Sep, 2008 12:00am
Security measures for Ramazan

Security measures for Ramazan

City Police Officer (CPO), Multan, Syed Saud Aziz, here on Monday ordered all police officials to ensure strict security arrangements in Multan to avoid any untoward incident during Ramazan. Presiding over a meeting of the officials held here on Monday, h
Published 02 Sep, 2008 12:00am
Ulema urged to play role to promote religious harmony

Ulema urged to play role to promote religious harmony

Sectarianism and religious extremism have shattered the unity of Muslims and we ought to do something to eliminate them and prove that Muslims are peace-lovers, Punjab Minister for Religious Affairs and Auqaf Haji Ehsanuddin said. He exhorted upon Ulema t
Published 02 Sep, 2008 12:00am
Taxpayers facilitated

Taxpayers facilitated

The Federal Board of Revenue (FBR) has extended date for e-filing of annual income tax withholding statement till September 5, 2008. The decision has been taken to facilitate taxpayers, particularly, withholding agents.
Published 02 Sep, 2008 12:00am
Petition filed in Supreme Court for presidential poll postponement

Petition filed in Supreme Court for presidential poll postponement

A petition seeking postponement of the presidential elections has been filed in the Supreme Court here on Monday. It said that the proposed presidential election would be void because of incomplete electoral college. The petition was filed by Advocate Has
Published 02 Sep, 2008 12:00am
KBP condemns government decision to increase electricity prices

KBP condemns government decision to increase electricity prices

Kisan Board Pakistan (KBP) has strongly condemned the government decision to increase electricity prices. In a statement issued here on Monday, KBP President Sardar Zafar Hussein Khan Advocate said that Prime Minister's announcement in this regard on behe
Published 02 Sep, 2008 12:00am
LHC directs to register case against police official

LHC directs to register case against police official

The Lahore High Court has directed to register a criminal case against Munir Mughal claiming to be an official of ISI and involved in kidnapping of petitioners' son Irfan. The petitioner Rehmat Ali contended that Mughal obtained a loan of rupees one lac f
Published 02 Sep, 2008 12:00am
Over 230,000 children die from waterborne diseases annually

Over 230,000 children die from waterborne diseases annually

Over 230,000 children lose their lives every year because of waterborn diseases such as typhoid, diarrhea, but washing the hands with soap could reduce these figures significantly. Health professionals told Business Recorder here on Monday that sev
Published 02 Sep, 2008 12:00am
ACPL's profit declines

ACPL's profit declines

The profit after tax of Attock Cement Pakistan Limited (ACPL) has declined to Rs 435.025 million in the year ended June 30, 2008 as compared to Rs 796.433 million earned in the corresponding period last year. The company's earning per share decreased to R
Published 02 Sep, 2008 12:00am
ACPL's profit declines

ACPL's profit declines

The profit after tax of Attock Cement Pakistan Limited (ACPL) has declined to Rs 435.025 million in the year ended June 30, 2008 as compared to Rs 796.433 million earned in the corresponding period last year. The company's earning per share decreased to R
Published 02 Sep, 2008 12:00am
Railways office timings

Railways office timings

All offices of the Pakistan Railways will remain open from 8 am to 1 pm during the month of Ramazan and on Friday the office time will be from 8 am to 12 am. The reservation offices timings have also been changed. The first shift will work from 8 am to 1.
Published 02 Sep, 2008 12:00am
Soomro visits Shahbaz Qalandar's Mazar

Soomro visits Shahbaz Qalandar's Mazar

Caretaker President Mohammad Mian Soomro, accompanied by his mother and District Nazima, Jacobabad Begum Saida Soomro, visited the shrine of Hazrat Usman Marvandi (Hazrat Lal Shahbaz Qalandar) here on Monday morning. The caretaker President of the country
Published 02 Sep, 2008 12:00am
Need stressed to develop risk management techniques for IBIs

Need stressed to develop risk management techniques for IBIs

Islamic banking in Pakistan has shown a tremendous growth and keeping in view the expectations of the people and peculiar nature of Shariah-compliant transactions, there is a dire need to develop new financial risk management techniques and methodologies.
Published 02 Sep, 2008 12:00am
39 percent decline in non-life insurance sector profits

39 percent decline in non-life insurance sector profits

Despite net premiums growth of 15 percent, underwriting profits of non-life insurance sector posted a decline of 39 percent, to Rs 825 million, in the first half of 2008. "The net premium of the sector grew to Rs 10.0 billion during this period against Rs
Published 02 Sep, 2008 12:00am
Taxpayers face problems in filing of e-returns

Taxpayers face problems in filing of e-returns

A large number of taxpayers are facing hardships in filing e-returns, owing to incomplete data available on PRAL. The Federal Board of Revenue (FBR) has introduced new format for filing of returns and has made it mandatory in the budget of 2008-09 to faci
Published 02 Sep, 2008 12:00am
Draft guidelines on Islamic financing for agriculture issued

Draft guidelines on Islamic financing for agriculture issued

A task force constituted by Dr Shamshad Akhtar, Governor, State Bank of Pakistan on "Islamic Agricultural Finance" has prepared draft guidelines on Islamic financing for agriculture. The task force comprised senior SBP officials, Shariah advisors and head
Published 02 Sep, 2008 12:00am
Taliban accounts blocked

Taliban accounts blocked

The State Bank of Pakistan has instructed all banks to block all accounts of Tehrik-e-Taliban Pakistan, and submit complete report. The SBP issued these instructions on Monday following imposition of a ban on Tehrik-e-Taliban Pakistan by the federal gover
Published 02 Sep, 2008 12:00am
Protest held against sectarian killings in DIK

Protest held against sectarian killings in DIK

Imamia Students Organisation (ISO) on Monday observed a protest to condemn the growing incidents of sectarian killing, extremism and terrorism in Dera Ismail Khan (DIK), Hangu, and Parachinar. It also protested against the Government's failure to protect
Published 02 Sep, 2008 12:00am
CDC to hold capacity building workshop for female teachers

CDC to hold capacity building workshop for female teachers

Career Development Centre (CDC), University of Agriculture Faisalabad will organise a capacity building workshop for females college teachers of Faisalabad, Sarghodha, Bhalwal, Khushab and Soon Skacer. The arrangements in this regard will be finalised soo
Published 02 Sep, 2008 12:00am
KBL scholarships

KBL scholarships

Khushhali Bank Limited (KBL) in association with United States Agency for International Development (USAID) awarded merit-based scholarships to two Fata students of the Institute of Business Administration (IBA), Karachi. The scholarships are the result o
Published 02 Sep, 2008 12:00am
SSUET is traversing development stages

SSUET is traversing development stages

General Secretary, Aligarh Muslim University Old Boys Association, Engr Zakir Ali Khan has said that despite all odds and difficulties, Sir Syed University of Engineering and Technology (SSUET), a unique institution of AMUOBA is traversing the stages of d
Published 02 Sep, 2008 12:00am
ICMAP holds management accounting conference

ICMAP holds management accounting conference

The Provincial Minister for Revenue, Syed Murad Ali Shah, has said that the Cost Accountants need to come forward and help Sindh Government in ascertaining the value of Thar coal and of Granite that he described as `Black Gold' of Sindh. This he stated wh
Published 02 Sep, 2008 12:00am
University of Karachi announces working hours in Ramazan

University of Karachi announces working hours in Ramazan

The University of Karachi on Monday announced the working hours during the holy month of Ramazan. According to the Registrar of the institution, the working hours during the weekdays will be from 8am to 1pm. On Fridays, the working hours will be from 8am
Published 02 Sep, 2008 12:00am
FDE decides to reinstate, regularise contractual teachers

FDE decides to reinstate, regularise contractual teachers

Federal Directorate of Education (FDE) has decided to reinstate or regularise services of contractual teachers in light of Islamabad High Court's verdict that came in their favour on different occasions.
Published 02 Sep, 2008 12:00am
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