Gold rose more than 4 percent on Monday as dollar weakness and sharp gains across commodities sharpened appetite for the precious metal, but retreated from highs as the dollar recovered some lost ground against the euro.
Arabica coffee and US cocoa futures rose in a broad rally on Monday as soft commodity investors reacted to China's $600 billion economic stimulus plan that was expected to renew demand for raw materials, traders said. Arabica coffee for December delivery
Wheat futures on all three US exchanges turned lower early on Monday after a firmer open, pressured by USDA increasing its 2008/09 world supply estimate, traders said. Chicago Board of Trade December wheat was down 9-1/2 cents at $5.11-1/2 a bushel by 9:5
Chicago Board of Trade corn and soyabeans climbed early Monday, supported by China's stimulus plan to shore up the world's fourth largest economy, traders said. USDA's monthly crop data issued before the open was viewed as neutral. November soyabeans were
US copper futures climbed more than 10 percent early Monday on the back of a weaker dollar and a multibillion dollar economic stimulus package in China, the world's leading metals consumer. Copper for December delivery surged 14.50 cents, or 8.5 percent,
US gold futures rose more than 2 percent on Monday, rising above $760 an ounce, as China's government spending stimulus plan triggered a broad-based commodity rally and stirred inflation worries. December gold was up $18.90, or 2.6 percent, at $753.10 an
Punjab Auqaf and Religious Affairs Secretary Khizar Hayat Gondal has notified the transfers and postings of department officials on the recommendations of the promotion committee. Manager Auqaf Rawalpindi Raja Muhammad Nawaz has been transferred and poste
Indian authorities have disallowed 23 people to perform Haj by not issuing their visas, in occupied Kashmir. The police intelligence, CID, has not yet cleared the names of 23 Haj aspirants to undertake the holy pilgrimage. Haji Abdul Rashid Mir, chief exe
Tour de Pakistan international cycle race will begin from November 16 in Karachi with the participation of 13 teams including four from foreign countries. Organising secretary of the cycle race, Idrees Haider Khawja said this while talking to APP here on
The experiment of electricity saving by reversing the clock by one hour from May 01, to October 31, 2008 during the summer season has miserably failed. There were no signs of electricity savings as the public continued to suffer long hours load shedding d
Of late, a steep rise in the price of essential commodities has made the life of a poor Pakistani miserable. When the poor finds it impossible to make both ends meet, he reacts either by self-immolation or resorts to committing suicide along with his smal
The Panel of Economists is of the view that Pakistan must take decisive action to restore macroeconomic stability, while protecting the vulnerable citizens. This is essential to restore investor confidence, both domestic and foreign, and garner domestic p
Last Saturday, President Asif Ali Zardari had Nawaz Sharif for a dinner, variously described as merely a social affair having little political significance and also as the 'coming together' of two erstwhile allies who having won the battle against the dee
The Federal Investigation Agency (FIA), under the tutelage of Advisor to the Prime Minister on Interior, Rehman Malik, created headline news when, over the weekend, it paraded a handcuffed director of a well known registered money exchange company in fron
Wattan Party through its Punjab President has approached the Supreme Court of Pakistan against privatisation of Oil and Gas Development Company Limited and Qadirpur gas field. The petitioner contended that cabinet committed has allowed privatisation of 37
On the special directives of Punjab Chief Minister Mian Muhammad Shahbaz Sharif, Lahore Development Authority (LDA) and its subordinate agency TEPA has commenced work on different road construction projects under 'Lahore Road Rehabilitation Programme Phas
The PIAF-Founders Alliance while expressing grave concern over Nato air-strikes in tribal areas said that the attacks are hitting the country's economy badly as no investor is ready to put his money in any new venture. The economy could be backed on track
Foreign Minister Shah Mehmood Qureshi left for the United States on Monday to attend the International Inter-faith Conference to be held in the second week of November. Before leaving for Washington, talking to reporters, Qureshi said Saudi King Abdullah
President Asif Ali Zardari will participate in the high-level session of UN General Assembly (UNGA) on 'Culture of Peace' in New York on November 12-13, Foreign Office said on Monday. The high-level session is being held at the initiative of the Custodian
Punjab government has instructed its Planning & Development (P&D) department to delete all schemes relating to street soling and drainage filed by the members of provincial assembly for the fiscal year 2008-09, sources close to the provincial government s
General Secretary, Jamat-e-Islami (JI), Pakistan, Syed Munawar Hassan, has demanded that government should unveil the names of the persons involved in the biggest forex scandal in the history of Pakistan. In a statement issued here on Monday he demanded t
Pakistan's newly established Ministry of Investment is planning to set up a task force to ensure a round-the-clock security for investors in the country. Talking to an eight-member Malaysian and Bruneian journalists, who are on a 10 days working visit to
A group of 169 Sikh Yatrees on a PIA flight PK-758 aircraft arrived here on Monday from London to attend the 540th Birth Anniversary of Baba Guru Nanak. According to a PIA's spokesman the Yatrees were offered flowers and bouquet and given a warm welcome b
Rotary ShelterBox (RS) has donated some 1,000 shelter boxes, including winterised tents, for the affectees of Balochistan earthquake, said a press release on Monday. It said each shelter box contains a winterised tent, blankets, water purification bottles
In an impressive ceremony, a Pakistani diplomat received award here for the members of the Pakistani Mobile Hospital that provided outstanding medical assistance to the affected people of the devastated earthquake that hit parts of China on May 12.
In accordance with the Securities and Exchange Commission of Pakistan's (SECP) circular dated November 5 to all Asset Management Companies, Atlas; Income Fund (AIF) has revalued its portfolio of debt securities. The revaluation has resulted in a downward
The Federal Board of Revenue (FBR) is chalking out a comprehensive plan for speedy payment of sales tax refunds to the registered taxpayers. However, it is under consideration to conduct audit of those sales tax refund claims in which manual overruling of
Ministry of Food & Agriculture on Monday launched its training capacity programme under the auspices of Agribusiness Development & Diversification Project.
The Capital Development Authority (CDA) has decided to take strict action against people using residential houses for commercial purposes. The decision was taken in a meeting here on Monday, presided over by CDA Chairman Tariq Mehmood Khan and attended by
TNS Beaconhouse, held its annual fun sports at Defence Housing Authority (DHA) stadium. The children took part in range of fun and competitive races such as the sack race, the frog race, big feet, the relay race, the sprint and others. Medals, cups and pr
The debate team of Punjab University has qualified for the final round of 'Allma Iqbal Shield 2008 (English and Urdu) contest'. The event is being organised by the Higher Education Commission (HEC). The semi-final round held in the auditorium of the Unive
At least four moorings, abandoned by Pakistan Navy (PN) over a decade ago, in 1994, had been hindering operation of a $5 million liquid cargo terminal at Port Qasim for the last one year, Business Recorder learnt on Sunday. However, according to so
PSO, being globally acclaimed for its "series of firsts", has once again lived up to its corporate image of being the trend-setter in every facet of the business. The nation's flagship entity has now entered into a strategic alliance with M/s. Cupola Paki
On the first day of filing nomination papers, the election committee of Karachi Chamber of Commerce and Industry (KCCI) has received 50 submissions against 30 vacant seats of managing committee of KCCI. All of the 30 nominations were filed from Businessme
The Punjab Emergency Service (Rescue 1122) has started three-day workshop for air hostess and stewards to create awareness regarding effective management of emergencies in case of any unforeseen. Forty air hostess and stewards of PIA participated in this
Terming the privatisation of Qadirpur gas field as a big blow to nation, naib ameer, Jamat-e-Islami (JI) Liaqat Baloch said that JI has convened All Parties Conference (APC) to avert the privatisation move of gas field.
The Federal Board of Revenue (FBR) is collecting data of non-operational companies and business establishments for their de-registrations with the Sales Tax Department. Sources told Business Recorder on Monday that the FBR had chalked out an effect
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).
Deputy Speaker of the National Assembly Faisal Karim Kundi has lauded the support provided by Germany in various development projects, and expressed the hope that German government will continue to support Pakistan in its hour of need.
The Speaker National Assembly Dr Fehmida Mirza on Monday adjourned the first sitting of the House to mourn the death of MNA Abdul Matin Khan after offering fateha for the departed soul. Soon after the recitation from the Holy Quran, fateha was offered for
Speaker National Assembly Dr Fehmida Mirza on Monday constituted a 17-member special committee of the parliament to oversee the implementation of consensus resolution adopted by the Parliament following in-camera session on national security.
Pakistan International Airline (PIA) will be seeking a sovereign guarantee for the loan of Rs 55 billion from the government within a week as the national flag carrier faces accumulated losses of Rs 75.1 billion till September 2008.
A founder member of PPP and President of PPP (Human Rights wing) Punjab Begum Zubaida Khatoon Khokhar has died in Nishtar Hospital Multan on Monday morning. She met a road accident last week when coming back from Faisalabad alongwith other leaders of PPP
DCO Fazeel Asghar has said that 570 educators would be appointed in district Multan very soon. He was addressing the meeting of the District Monitoring Committee for education here on Monday. Fazeel Asghar said that provision of basic facilities including
Punjab Local Government Minister Dost Muhammad Khosa has said that the provincial government does not want to eliminate the existing local government system, rather it wants to remove flaws to make the local government system accountable and efficient.
A forum with a countrywide network of over 30 welfare organisation under its umbrella is working with the aim to promote liaison between elected public representatives and the people of the constituency they represent, so that local needs and issues are b
Federal Minister for Human Rights, Syed Mumtaz Alam Gilani, on Monday said that an independent Human Rights Commission would be established to check human rights' violations in the country. "The commission will work at divisional, district and tehsil leve
A large number of daily wage earners are bearing the brunt of decline in the development and commercial activities, finding it hard to make their both ends meet in the city of sufists Multan. These workers generally earn their livelihood by working in god
Stalwarts of Pakistan Muslim League (Quaid-i-Azam) from Khanewal, Vehari, Multan and other parts of the Southern Punjab have opposed the merger of the party into anyother faction or alliance and asked the party leadership to give up the idea of forming al
Mian Muhammad Nawaz Sharif, Quaid of PML-N on Monday stressed the need for implementing the Charter of Democracy (CoD) saying that this will help the political forces to address economic and all other problems.
In the wee hours on Monday, six gunmen broke into a mobile phone shop in the City Gate market here, tied up the security guards with ropes, and decamped with 200 sealed cell phone packets worth Lakhs of rupees.
Nine people gang raped two sisters in village Taranda Mir Khan in Bahawalpur district here on Monday. As per detail disclosed by police Muhammad Akram Gujjar had developed illicit relationship with Zainab, the sister of culprit, Sher Muhammad Arain.
After the killing of activists of two different political parties, the firing incidents and violent protest demonstration on Monday gripped the whole city. According to details, 30-year-old activist of Sunni Tehrik (ST) Furqan Attari son of Shamim Khan, r
An autopsy of Zambian lady, Mocasu Margrette was conducted at Nishtar Hosptal, Multan to find out the cause of her death. Meanwhile, the District and Session court of Multan has appointed the judicial magistrate, Amjad Shoaib Khan as the inquiry officer,
Four dengue deaths have been reported so far in Lahore while the number of virus-infected patients is increasing fast. The authorities concerned have not taken up to the mark measures to tackle the diseases. Taking exception to the increasing number of de
Saarc physiological conference is a hallmark in scientific research fie1ds This was stated by Dr Sibtul Husnain, President Prime Minister and DC while addressing the inaugural ceremony of the 1st South Asian Conference and 11th Biennial Conference of Paki
The participants of a public hearing before the Oil and Gas Regulatory Authority (Ogra) strongly opposed SSGC's petition and said that any further increase in gas prices would have adverse economic and financial impact on gas consumers.
The Pakistan Gems and Jewelry Development Company (PGJDC) is evolving the "Hallmark Act", which is likely to be implemented by the end of 2009, to standardise the local jewelry and enhance its export.
Fifty foreign trips with huge entourages made by former prime minister Shaukat Aziz during 2004 to 2007 cost the national exchequer Rs 1 billion. According to information laid before the National Assembly, the former Prime Minister had made seven official
Three Senators from Balochistan filed a resolution in the Senate Secretariat demanding that a treason case should be registered against former president General Pervez Musharraf (Retd) for abrogating the constitution and ordering the killing of Akbar Khan
The task force on climate change on Monday decided to prepare interim report by December 15, which would include global and national climate change perspectives, and policy level measures to address the adverse effects of climate change in the key sectors
Opposition members in the City Council shouted "No" on Monday when treasury members sought their support for a resolution lauding City Nazim Mustafa Kamal for being honoured and placed Second on the list of world's 'top mayors for 2008' by an American mag
Federal Minister for Railways Hail Ghulam Ahmad Bilour Monday informed the National Assembly that Pakistan Railways has two proposals under consideration for Railway links with Afghanistan at Chaman-Spinbuldak border to connect Kandahar and Pak-China rail
Senior Minister Punjab, Raja Riaz Ahmad has asked the Farmer Organisations (FOs) to mobilise the farming community for the payment of 'Abiana' well in time. He added that the government is protecting the rights of the farmers by repairing and maintenance
The Lahore High Court (LHC) on Monday directed Speaker Punjab Assembly (PA) resolve the controversial appointment of assembly secretary within one month in accordance with the rules and regulations after hearing to the petitioner, Mohammad Khan Bhatti cha
The Supreme Court on Monday ordered judicial inquiry into a case of assault by the family members of a bureaucrat on two doctors of Federal Government Services Hospital (FGSH) A three-member bench of the apex court, comprising Chief Justice Abdul Hameed D
The support price of cotton will be approved in the coming meeting of the Federal Cabinet for which the Food Ministry has already moved a summary to the Prime Minister, well-placed sources told Business Recorder here on Monday.
The support price of cotton will be approved in the coming meeting of the Federal Cabinet for which the Food Ministry has already moved a summary to the Prime Minister, well-placed sources told Business Recorder here on Monday.