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Print - 2008-12-21
Hypo Real Estate to shed half its work force

Hypo Real Estate to shed half its work force

Troubled German property lender Hypo Real Estate said Saturday it will slash its workforce by almost half in three years, part of draconian moves to save it from near bankruptcy. "The number of employees will go from some 1,800 to about 1,000 over the nex
Published 21 Dec, 2008 12:00am
US media welcome auto rescue

US media welcome auto rescue

Leading US newspapers on Saturday welcomed President George W. Bush's plan to rescue struggling automakers, saying the cost of not acting could have been devastating to the world's biggest economy. "The only thing worse than the administration's plan woul
Published 21 Dec, 2008 12:00am
Bush auto plan only way to stave off collapse

Bush auto plan only way to stave off collapse

President George W. Bush on Saturday said offering government loans to US automakers was the only option left to prevent the industry from collapsing after alternatives were ruled out or failed. Bush on Friday announced the government would provide $17.4
Published 21 Dec, 2008 12:00am
Merkel vows further stimulus step in January

Merkel vows further stimulus step in January

Chancellor Angela Merkel said on Saturday the German government would take "a further step" in January to boost the economy after passing a stimulus package two weeks ago that was widely criticised as insufficient.
Published 21 Dec, 2008 12:00am
IMF income rises on greater crisis lending

IMF income rises on greater crisis lending

A spreading financial crisis is turning what would have been a huge loss into a profit for the International Monetary Fund. The Washington-based global lender, which has approved financial rescue packages for Hungary, Ukraine, Iceland and Latvia since ear
Published 21 Dec, 2008 12:00am
Japan cabinet OKs second extra budget worth $54 billion

Japan cabinet OKs second extra budget worth $54 billion

Japan's cabinet approved on Saturday an extra budget worth 4.79 trillion yen ($54 billion) to fund economic measures to prevent the world's No2 economy from sliding deeper into recession amid the global financial crisis. The government plans to submit the
Published 21 Dec, 2008 12:00am
West African nations seek voice in global economic crisis

West African nations seek voice in global economic crisis

A summit of West African countries has called for a regional response to the global financial crisis, saying Africa should not sit on the sidelines as the international community debates the issues. The 15 member nations of the Economic Community of West
Published 21 Dec, 2008 12:00am
Hundreds protest car import duty in Russia's Far East

Hundreds protest car import duty in Russia's Far East

Riot police broke up a demonstration in Russia's Far East region on Saturday against higher import duties on used foreign cars, highlighting official sensitivity to any protests linked to growing economic hardship.
Published 21 Dec, 2008 12:00am
American credit market outlook

American credit market outlook

Charter Communications Inc needs to radically overhaul its debt as it struggles with the cost of an increasingly insurmountable burden, and a reorganisation of its obligations in bankruptcy is a possibility. The fourth-largest US cable company said on Fri
Published 21 Dec, 2008 12:00am
American credit market outlook

American credit market outlook

Charter Communications Inc needs to radically overhaul its debt as it struggles with the cost of an increasingly insurmountable burden, and a reorganisation of its obligations in bankruptcy is a possibility. The fourth-largest US cable company said on Fri
Published 21 Dec, 2008 12:00am
Toronto stocks up

Toronto stocks up

Toronto's main stock index ended 1.5 percent higher on Friday as fresh hopes for a restructuring of the frozen nonbank asset backed commercial paper market boosted financial shares, and as BlackBerry maker Research In Motion rose in wake of a strong sales
Published 21 Dec, 2008 12:00am
US corporate bonds spread narrow

US corporate bonds spread narrow

US credit spreads narrowed as President George W. Bush announced $17.4 billion in emergency loans to struggling US automakers on Friday to help avoid an industry collapse and contagion to the broader economy. Demand for corporate bonds already had surged
Published 21 Dec, 2008 12:00am
US corporate bonds spread narrow

US corporate bonds spread narrow

US credit spreads narrowed as President George W. Bush announced $17.4 billion in emergency loans to struggling US automakers on Friday to help avoid an industry collapse and contagion to the broader economy. Demand for corporate bonds already had surged
Published 21 Dec, 2008 12:00am
US bonds plunge

US bonds plunge

US Treasury debt prices fell on Friday, lifting yields off historic lows, as traders took profits from this week's dramatic gains and after the government cast a lifeline to struggling US automakers. Despite the day's sell-off, yields on long-dated Treasu
Published 21 Dec, 2008 12:00am
US bonds plunge

US bonds plunge

US Treasury debt prices fell on Friday, lifting yields off historic lows, as traders took profits from this week's dramatic gains and after the government cast a lifeline to struggling US automakers. Despite the day's sell-off, yields on long-dated Treasu
Published 21 Dec, 2008 12:00am
JGBs advance after BoJ cuts rates

JGBs advance after BoJ cuts rates

Japanese government bonds advanced on Friday, pushing the benchmark 10-year yield down to a 3-1/2 year low, after the Bank of Japan cut interest rates closer to zero. The Japanese central bank cut its overnight call rate target to 0.10 percent from 0.30 p
Published 21 Dec, 2008 12:00am
JGBs advance after BoJ cuts rates

JGBs advance after BoJ cuts rates

Japanese government bonds advanced on Friday, pushing the benchmark 10-year yield down to a 3-1/2 year low, after the Bank of Japan cut interest rates closer to zero. The Japanese central bank cut its overnight call rate target to 0.10 percent from 0.30 p
Published 21 Dec, 2008 12:00am
Slow quarter closes awful year for US IPOs

Slow quarter closes awful year for US IPOs

A $126-million initial public offering by online university operator Grand Canyon Education Inc in November spared the US IPO market from being completely idle in the final quarter of 2008, a year to forget for most IPO participants.
Published 21 Dec, 2008 12:00am
Commodities weigh on Brazil stocks

Commodities weigh on Brazil stocks

Brazil's stock market fell on Friday as lower oil prices dragged down heavyweight Petrobras and not even the prospect of US government aid for US automakers managed to take stocks out of the doldrums. The Bovespa index of the Sao Paulo stock exchange shed
Published 21 Dec, 2008 12:00am
Argentine stocks dip

Argentine stocks dip

Argentine stocks fell on Friday as the slump in crude futures affected heavyweight oil sector issues, but bonds rose as the recent US interest rate cut motivated interest in riskier markets with higher potential returns. The benchmark MerVal index shed 1.
Published 21 Dec, 2008 12:00am
Chile stocks near flat

Chile stocks near flat

Chile's stocks slipped in listless trade on Friday, the first buffeted by a bumpy rebound in the US dollar and the latter shadowing Wall Street indexes. Chile's blue chip IPSA index closed down 0.37 percent at 2,342.45 points, while the all-market IGPA sl
Published 21 Dec, 2008 12:00am
China bond yields fall

China bond yields fall

China's bill and bond yields continued dropping on Friday in response to a strong auction of five-year bonds by Export-Import Bank of China. Exim Bank sold 10 billion yuan ($1.5 billion) of bonds at a yield of 2.04 percent, well below Thursday's indicativ
Published 21 Dec, 2008 12:00am
China bond yields fall

China bond yields fall

China's bill and bond yields continued dropping on Friday in response to a strong auction of five-year bonds by Export-Import Bank of China. Exim Bank sold 10 billion yuan ($1.5 billion) of bonds at a yield of 2.04 percent, well below Thursday's indicativ
Published 21 Dec, 2008 12:00am
South Korean bonds end steady

South Korean bonds end steady

South Korean bond prices ended steady on Friday, as a Japanese interest rate cut fanned hopes for additional domestic policy easing, keeping investors from dumping bonds to take profits from recent heavy gains. The Bank of Japan cut its key interest rates
Published 21 Dec, 2008 12:00am
South Korean bonds end steady

South Korean bonds end steady

South Korean bond prices ended steady on Friday, as a Japanese interest rate cut fanned hopes for additional domestic policy easing, keeping investors from dumping bonds to take profits from recent heavy gains. The Bank of Japan cut its key interest rates
Published 21 Dec, 2008 12:00am
S&P, NASDAQ gain after auto aid

S&P, NASDAQ gain after auto aid

The S&P 500 and Nasdaq rose on Friday after the US government said it would throw a $17.4 billion lifeline to automakers grappling with falling consumer demand. But the Dow ended lower, pulled down by another fall in energy shares, including Chevron and E
Published 21 Dec, 2008 12:00am
Mexico cuts 2008 foreign direct investment forecast

Mexico cuts 2008 foreign direct investment forecast

Mexico lowered its estimate of how much money foreign companies will invest in the country this year as the US recession increasingly weighs on Mexico's economy. Economy Minister Gerardo Ruiz told reporters on Friday that foreign direct investment in Mexi
Published 21 Dec, 2008 12:00am
Sri Lanka central bank says fourth quarter reserve money goal to be met

Sri Lanka central bank says fourth quarter reserve money goal to be met

Sri Lanka's central bank on Friday said its reserve money growth targets are under control and growth in the broad money supply had declined to a single digit level. "Growth in the broad money supply has decelerated to single digit levels, with growth dec
Published 21 Dec, 2008 12:00am
Chile peso slips

Chile peso slips

Chile's peso closed lower lower on Friday, buffeted by a bumpy rebound in the US dollar. The peso weakened 0.39 percent to close at 635.50-636.00 per dollar, compared with Thursday's close at 633.00-633.50. "The peso fell because of the dollar's strength
Published 21 Dec, 2008 12:00am
Indian inflation to fall further, stimulus not over

Indian inflation to fall further, stimulus not over

India's inflation rate will fall further and with the global slowdown likely to spill into the next financial year, there may be a need for more fiscal stimulus, a senior government official said on Friday. India's wholesale price index, its most widely w
Published 21 Dec, 2008 12:00am
Dollar up versus yen

Dollar up versus yen

The US dollar posted its largest daily gain in almost two months against the euro on Friday, after traders said the greenback's slump earlier this week may have been overdone. Against the yen, the dollar gained ground after the US government said it will
Published 21 Dec, 2008 12:00am
Brazil real plunges

Brazil real plunges

Brazil's currency plunged more than 4 percent in early trade on Friday as investors snapped up the US currency around the world. The real weakened to 2.46 per dollar from 2.36 on Thursday. The dollar gained broadly on Friday, trading 1.35 percent stronger
Published 21 Dec, 2008 12:00am
IMM speculators short US dollars in latest week

IMM speculators short US dollars in latest week

Currency speculators turned short US dollars in the latest week for the first time since July, according to data from the Commodity Futures Trading Commission on Friday. The value of the US dollar's net short position was around $238.3 million in the week
Published 21 Dec, 2008 12:00am
Canada inflation drops, room for rate cuts seen

Canada inflation drops, room for rate cuts seen

Canada's annual inflation rate dropped in November on lower gas prices but the closely watched core rate increased sharply in what some analysts said was a sign the Bank of Canada still had room to cut rates further. Statistics Canada said on Friday that
Published 21 Dec, 2008 12:00am
New Zealand recession seen deepening in third quarter

New Zealand recession seen deepening in third quarter

New Zealand's recession is expected to have deepened in the third quarter, with the economy contracting at its fastest pace in eight years, as the global turmoil exacerbated the local slump, a Reuters poll shows. The third quarter growth data is seen back
Published 21 Dec, 2008 12:00am
Hong Kong November inflation seen at lowest in over a year

Hong Kong November inflation seen at lowest in over a year

Hong Kong's November headline inflation rate probably fell to 1.6 percent, its lowest in over a year, as consumers and businesses cut spending and investments after the city slipped into a recession, a Reuters survey shows. Lower oil prices, declining foo
Published 21 Dec, 2008 12:00am
Mumbai hotels prepare to reopen

Mumbai hotels prepare to reopen

Final preparations were taking place in Mumbai Saturday to prepare the two luxury hotels stormed by Islamist militants for reopening, amid tight security and pledges to return to business as usual. The modern Tower wing of the Taj Mahal hotel and all of t
Published 21 Dec, 2008 12:00am
Iraqi shoe-thrower's family demonstrates

Iraqi shoe-thrower's family demonstrates

The family of an Iraqi journalist who threw his shoes at US President George W. Bush demonstrated for a second day on Saturday to demand his release from custody. Muntazer al-Zaidi's brother, Durgham, told AFP that the family intended to continue its prot
Published 21 Dec, 2008 12:00am
Australian navy ship rescues French sailor

Australian navy ship rescues French sailor

An Australian navy frigate Saturday rescued a French yachtsman badly injured in the remote Southern Ocean during a solo round-the-world race, race organisers said. Two crew members transferred Yann Elies to the HMAS Arunta from his 60-foot (18-metre) yach
Published 21 Dec, 2008 12:00am
Chaos at US airports as winter storms strike

Chaos at US airports as winter storms strike

Airports were shut down and several hundred flights were cancelled Friday as winter storms swept across the Midwest and north-eastern US.More than 500 flights were cancelled at airports across New York state, and the storm was expected to dump more than 2
Published 21 Dec, 2008 12:00am
European parliament urges Gulf home-grown democracy

European parliament urges Gulf home-grown democracy

Gulf Arab states should pursue democratic reform without feeling that they must follow models not in line with their tradition, the president of the European parliament said on Saturday. "Democracy in the region must be home-grown according to their tradi
Published 21 Dec, 2008 12:00am
Lebanon appoints ambassador to Syria as ties warm

Lebanon appoints ambassador to Syria as ties warm

Lebanon appointed an ambassador to Syria on Saturday, the first time the Arab neighbours will have full diplomatic relations since gaining independence from France in the 1940s. Syrian President Bashar al-Assad had issued a decree in October to establish
Published 21 Dec, 2008 12:00am
Four Nato soldiers killed in Afghanistan

Four Nato soldiers killed in Afghanistan

Four Nato troops in Afghanistan were killed in separate roadside bomb attacks, officials said Saturday. The three Danish soldiers were killed and another was wounded on Friday when their armoured vehicle was blown up in Gerishk district of southern Helman
Published 21 Dec, 2008 12:00am
Amgen seeks US approval of osteoporosis drug

Amgen seeks US approval of osteoporosis drug

Amgen Inc, the world's largest biotechnology company, said on Friday it filed for US Food and Drug Administration approval of experimental drug denosumab as a treatment for osteoporosis in post- menopausal women. The application also covers treatment and
Published 21 Dec, 2008 12:00am
Cable breaks cut Internet in Mideast, South Asia

Cable breaks cut Internet in Mideast, South Asia

Breaks in submarine cables which link Europe and the Middle East disrupted Internet and international telephone services in parts of the Middle East and South Asia, officials said on Saturday. The disruption reduced Egypt's Internet capacity by about 80 p
Published 21 Dec, 2008 12:00am
FIFA wants plans for unified British team by March

FIFA wants plans for unified British team by March

The four British associations will be asked to submit plans for a unified 2012 Olympic soccer team in March, FIFA president Sepp Blatter said on Saturday. Speaking after a meeting of FIFA's executive committee, Blatter dismissed concerns in Scotland, Nort
Published 21 Dec, 2008 12:00am
Benazir festival hockey match: Lahore Colours beat Lahore Whites

Benazir festival hockey match: Lahore Colours beat Lahore Whites

Lahore Colours beat Lahore Whites by 2-1 in Mohtarma Benazir Bhutto Shaheed Festival Women Hockey match, here at National Hockey Stadium on Saturday. Punjab Minister for Sports Dr Tanveer ul Islam and wife of President Pakistan Hockey Federation (PHF) Qas
Published 21 Dec, 2008 12:00am
Late goals send Thais into Southeast Asian final

Late goals send Thais into Southeast Asian final

Three times champions Thailand fought back from a goal down to reach the final of the Southeast Asian championships with a 2-1 win over Indonesia on Saturday. Late goals by Teerathep Winothai and substitute Ronnachai Rangsiyo gave the Thais a 3-1 aggregat
Published 21 Dec, 2008 12:00am
Fans plan to build temple for Dhoni

Fans plan to build temple for Dhoni

Fans from Indian skipper Mahendra Singh Dhoni's hometown of Ranchi plan to build a temple in his name. "Cricket is religion in our country and Dhoni is god of cricket," his fan club president Jitendra Singh told reporters. "We'll construct a huge temple o
Published 21 Dec, 2008 12:00am
Singapore beat Pakistan Junior women hockey team

Singapore beat Pakistan Junior women hockey team

Singapore beat Pakistan Junior Women Hockey team by one goal to nil in a classification match of Junior Women Asia Cup Hockey Tournament in Malaysia on Saturday. According to the information received here from Malaysia, Singapore scored the lone goal in t
Published 21 Dec, 2008 12:00am
Gambhir, Dravid sparkle before England rally

Gambhir, Dravid sparkle before England rally

India batsmen Gautam Gambhir and Rahul Dravid compiled a record 314-run partnership before spinner Graeme Swann led an England fightback in the second test on Saturday. Opener Gambhir top-scored with 179 and Dravid stroked 136 for his 26th test hundred. T
Published 21 Dec, 2008 12:00am
Iran dispatches warship

Iran dispatches warship

Iran said on Saturday it had dispatched a warship to the Gulf of Aden to protect Iranian vessels against pirates hijacking ships, state radio reported. An Iranian-chartered vessel was seized near Yemen on November 18. Another vessel, the Iran Deyanat, was
Published 21 Dec, 2008 12:00am
China deploys three ships to fight pirates off Somalia

China deploys three ships to fight pirates off Somalia

China will send two destroyers and a supply vessel to the seas off Somalia to back international efforts to fight piracy, the official Xinhua news agency quoted the defence ministry as saying on Saturday. Foreign Ministry spokesman Liu Jianchao said the t
Published 21 Dec, 2008 12:00am
Gunmen attack vessels in Nigeria, kidnap Russians

Gunmen attack vessels in Nigeria, kidnap Russians

Gunmen in speedboats attacked three oil services ships and kidnapped at least two Russians in separate incidents in Nigeria's Niger Delta, security sources working in the oil industry said on Saturday. The Falcon Crest and Falcon Wings were attacked late
Published 21 Dec, 2008 12:00am
China blocks Internet access to New York Times

China blocks Internet access to New York Times

China, widely criticised for its censorship of the media, this week blocked access to The New York Times, the newspaper said on Saturday. When computer users in cities like Beijing, Shanghai and Guangzhou tried to connect on Friday to nytimes.com,
Published 21 Dec, 2008 12:00am
UAE buys US missiles in $3.3 billion deal

UAE buys US missiles in $3.3 billion deal

Iran's Gulf neighbour, the United Arab Emirates, has signed a deal worth $3.3 billion to buy missiles from US firm Raytheon, a newspaper reported on Saturday. The US Defence Department said in September it had proposed the sale of air defence systems and
Published 21 Dec, 2008 12:00am
Nine militants killed in Afghanistan

Nine militants killed in Afghanistan

Eight Taliban-linked militants were killed in a joint operation by Afghan and US-led forces in volatile southern Afghanistan, the interior ministry said Saturday. The rebels were killed on Friday in Helmand province, which sees some of the worst violence
Published 21 Dec, 2008 12:00am
Rice says only an idiot would trust North Korea

Rice says only an idiot would trust North Korea

US Secretary of State Condoleezza Rice said in an interview released on Friday only an "idiot" would trust North Korea, which is why the United States is insisting on a way to check its nuclear claims. A 2005 multilateral deal under which Pyongyang would
Published 21 Dec, 2008 12:00am
Tuareg rebels kill 14 in Mali raid

Tuareg rebels kill 14 in Mali raid

Tuareg rebels killed at least 14 soldiers in an attack on an army post close to Mali's border with Mauritania on Saturday, Malian military sources said, testing a five-month cease-fire in the African gold producer. Gunmen in more than 20 four-wheel-drive
Published 21 Dec, 2008 12:00am
Belgium in limbo again after government collapses

Belgium in limbo again after government collapses

Belgium's King Albert consulted political leaders on Saturday after the government collapsed for the third time in a year following its botched attempt to bail out financial group Fortis. Prime Minister Yves Leterme tendered his government's resignation o
Published 21 Dec, 2008 12:00am
Israeli air strike kills Gaza militant

Israeli air strike kills Gaza militant

An Israeli air strike killed a Palestinian militant in the Gaza Strip on Saturday, a day after the end of a six-month-old cease-fire between Israel and the Hamas rulers of the enclave, the army and Palestinians said. An Israeli military official said the
Published 21 Dec, 2008 12:00am
Rashid Mansur re-elected as IBAP Chairman

Rashid Mansur re-elected as IBAP Chairman

The Board of Directors of the Investment Banks Association of Pakistan (IBAP) in a recent meeting held in Karachi has re-elected Rashid Mansur, CFO - Escorts Investment Bank Ltd, as the Chairman, IBAP for the second term.
Published 21 Dec, 2008 12:00am
'Construction work of Shershah Bridge started'

'Construction work of Shershah Bridge started'

Director Maintenance National Highway Authority (NHA), Eng. Shabbir Ali Shah has said that NHA has started construction work of Shershah Bridge, which was collapsed last year.
Published 21 Dec, 2008 12:00am
SBP auctions Rs six billion GoP-IS

SBP auctions Rs six billion GoP-IS

The State Bank of Pakistan (SBP) has auctioned the Government of Pakistan Ijara Sukuk (GoP-IS) worth Rs 6 billion for a three-year maturity period. Director Domestic Markets and Monetary Management Department (DMMD) had invited tenders from designated Pri
Published 21 Dec, 2008 12:00am
Hyatt foresees good hotel business in Pakistan

Hyatt foresees good hotel business in Pakistan

The Vice President, (Technical Services), Hyatt International, Malcom G Turner has applauded Pakistan for standing firm during the time of hardship at global level said it is one of great nation in Pakistan. He was addressing a press conference, which was
Published 21 Dec, 2008 12:00am
ANP trying hard to end gun culture

ANP trying hard to end gun culture

Provincial Minister for Education and ANP leader, Sardar Hussain Babak has said that the Provincial government was taking concrete measures to end gun culture in the Pukhtoon society and replace it with pens and books, as only education and awareness coul
Published 21 Dec, 2008 12:00am
BRD Project rated as successful by ADB

BRD Project rated as successful by ADB

Asian Development Bank observed that the Bahawalpur Rural Development Project is rated as successful based on four out of five project components achieving physical targets.
Published 21 Dec, 2008 12:00am
Race against time

Race against time

Strong, stable and rapidly growing economy is the most essential ingredient for ensuring national security, solidarity and integrity of the Motherland.
Published 21 Dec, 2008 12:00am
Cuba back in Latin American fold, amidst anti-US thrust

Cuba back in Latin American fold, amidst anti-US thrust

Raul Castro returned to the Latin American fold this week with a showering of hugs, back-slaps and vigorous handshakes. He could barely catch his breath. At Tuesday and Wednesday's gathering of leaders from Latin America and the Caribbean at the north-eas
Published 21 Dec, 2008 12:00am
Funds for PAEC project

Funds for PAEC project

Funds for an important PAEC project of exploration and mining of indigenous uranium for the country's commissioned and planned nuclear power plants have been withheld for being "unjustifiably" high, according to documents made available to Business Rec
Published 21 Dec, 2008 12:00am
Chinese model and Pak constraints

Chinese model and Pak constraints

President Asif Ali Zardari has observed that the introduction of mechanised farming cannot only help meet Pakistan's own food requirements; it can also make the country a major exporter of foodgrain. The government should therefore ensure farmers' access
Published 21 Dec, 2008 12:00am
Death condoled

Death condoled

The Prime Minister, Yusuf Raza Gilani has expressed grief and sorrow over the sad demise of the son of former Punjab MPA, Dr Khawar Ali Shah. In his condolence message the PM prayed to Allah Almighty eternal peace for the departed soul and courage and for
Published 21 Dec, 2008 12:00am
Transfers and postings

Transfers and postings

Punjab Health Department has issued transfer and posting orders of doctors of General Cadre, presently awaiting posting in the department.
Published 21 Dec, 2008 12:00am
CIDA-SOHIP to streamline issues opposing health services

CIDA-SOHIP to streamline issues opposing health services

Punjab Health Department is endeavouring to streamline issues that affect the way health services are being provided to the masses. In this ongoing struggle, ensuring that the health staff remains up-to date and responsive to the changing needs of the com
Published 21 Dec, 2008 12:00am
Panel discussion on 'Food Security Issues in Pakistan'

Panel discussion on 'Food Security Issues in Pakistan'

The Vice Chancellor GC University Lahore Professor Dr Khalid Aftab has underscored the need to promote co-operation and collaboration across educational institutions in order to encourage research on key economic issues and challenges and fill the gap tha
Published 21 Dec, 2008 12:00am
Officials asked to deliver money orders before Christmas

Officials asked to deliver money orders before Christmas

The Chairman, Task Force for essential items and administrator Food Support Scheme Punjab, S A Hameed has directed the officials of postal department to ensure delivery of money orders of deserving Christians in next few days so that they could happily pa
Published 21 Dec, 2008 12:00am
11 division, 23 single benches constituted

11 division, 23 single benches constituted

Chief Justice Lahore High Court Sayed Zahid Hussain here on Saturday constituted 11 division benches (DBs) and 23 single benches (SBs) for the disposal of the cases pending with principal seat of the august court at Lahore for the week commenced from Dece
Published 21 Dec, 2008 12:00am
'Economic crisis to deepen if population not controlled'

'Economic crisis to deepen if population not controlled'

'Saraiki belt is full of involved activities and we should join it with the vision of our late leader, Benazir Bhutto,' the Federal Minister, Population Welfare, Dr Firdous Aashiq Awan said. Awan was addressing a seminar held by the Population Welfare Dep
Published 21 Dec, 2008 12:00am
LDA continues demolishing encroachments

LDA continues demolishing encroachments

In connection with the ongoing drive against encroachment, the staff of the Lahore Development Authority (LDA) removed scores of infringements from Moon Market, Allama Iqbal Town on Saturday.
Published 21 Dec, 2008 12:00am
Purchase of agriculture produce: AOPs not required to withhold tax: FBR

Purchase of agriculture produce: AOPs not required to withhold tax: FBR

The Association of Persons (AOPs), having over Rs 50 million turnover and engaged in making payments for purchase of agricultural produce, will not be required to withhold tax under section 153 of the Income Tax Ordinance, 2001. The board has amended SRO.
Published 21 Dec, 2008 12:00am
Purchase of agriculture produce: AOPs not required to withhold tax: FBR

Purchase of agriculture produce: AOPs not required to withhold tax: FBR

The Association of Persons (AOPs), having over Rs 50 million turnover and engaged in making payments for purchase of agricultural produce, will not be required to withhold tax under section 153 of the Income Tax Ordinance, 2001. The board has amended SRO.
Published 21 Dec, 2008 12:00am
Erra disburses Rs 63.59 billion for rural house building

Erra disburses Rs 63.59 billion for rural house building

The Earthquake Reconstruction and Rehabilitation Authority (Erra) has disbursed an amount of Rs 63.59 billion under rural housing scheme for quake victims of the NWFP and AJK. Deputy Chairman Erra, Lieutenant General Sajjad Akram. While addressing the Don
Published 21 Dec, 2008 12:00am
Qazi speaks of international conspiracies

Qazi speaks of international conspiracies

Jama'at-e-Islami Amir Qazi Hussain Ahmad said here on Saturday said that international conspiracies and intrigues were being hatched against the country. Talking to a delegation of Pakistanis, hailing from Denmark, Norway, Germany and Italy, he said that
Published 21 Dec, 2008 12:00am
Rulers showing non-serious attitude: PML-N

Rulers showing non-serious attitude: PML-N

Pakistan Muslim League-Nawaz Central Secretary General International Affairs Sheikh Kaiser Mehmood has said that rulers are showing non-serious attitude to ensure peace and stability in the country, which is essential for progress and prosperity.
Published 21 Dec, 2008 12:00am
Ajmal Qasab's arrest: Nepalese envoy denies reports

Ajmal Qasab's arrest: Nepalese envoy denies reports

Nepal Ambassador to Pakistan Bala Kunwar said on Saturday that Ajmal Qasab, the only person who was arrested alive during deadly Mumbai attacks last moth, had not been to Nepal, neither he was handed over to India by his country. Addressing a press confer
Published 21 Dec, 2008 12:00am
LSE elects five members as directors for year 2009

LSE elects five members as directors for year 2009

The members of the Lahore Stock Exchange on Saturday elected five members directors on the LSE Board for the year 2009. There are 152 members, out of which one died, three memberships were placed under suspension while 28 members could not deposit their d
Published 21 Dec, 2008 12:00am
Provinces told to eliminate 8000 ghost schools

Provinces told to eliminate 8000 ghost schools

The Education Minister, Hazar Khan Bijrani, has directed the provincial governments to eradicate 8,000 ghost schools across the country. He was chairing the 14th Inter-Provincial Education meeting (IPEM) here on Saturday.
Published 21 Dec, 2008 12:00am
Muharram security plan reviewed

Muharram security plan reviewed

The Provincial Government has given final approval for establishment of Crises Management Centre in Peshawar equipped with all latest facilities to cope with different accidents and natural disasters and minimise the losses of lives and property.
Published 21 Dec, 2008 12:00am
CCPO orders strict implementation of 'one dish' rule

CCPO orders strict implementation of 'one dish' rule

The Capital City Police Officer (CCPO), Muhammad Pervaz Rathore has directed all the police officers to strictly implement the 'One Dish' rule at marriage ceremonies. He said that if anybody violates this rule in Lahore, the concerned SDPO and the SHO wou
Published 21 Dec, 2008 12:00am
Industrial estate for arms manufacturers on the cards

Industrial estate for arms manufacturers on the cards

The government has agreed to a proposal to set up Small Industrial Estate in Darra Adam Khel to facilitate arms manufacturers and to improve the standard of small arms being produced in the area. The proposal to establish small industrial estate in Darra
Published 21 Dec, 2008 12:00am
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