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Print - 2008-12-25
Britain's top share index falls

Britain's top share index falls

Britain's top share index fell on Wednesday in a shortened Christmas Eve session, with soft crude prices hurting energy stocks while AstraZeneca fell after US authorities requested more data on its Seroquel drug. The FTSE 100 closed 39.39 points lower, or
Published 25 Dec, 2008 12:00am
Shanghai copper rises

Shanghai copper rises

Shanghai copper rebounded from early losses to close up nearly 1 percent on Wednesday, on the back of bargain hunting and a solid spot premium. London copper gained 1.2 percent, after a 3 percent overnight fall to a four-year low on dismal US housing data
Published 25 Dec, 2008 12:00am
US copper hits new four-year low

US copper hits new four-year low

US copper futures hit a new four-year low in abbreviated pre-holiday business on Wednesday, pulled down as weak economic data fed concerns about deteriorating demand. New York metals markets settled one hour earlier on Wednesday December 24, and will rema
Published 25 Dec, 2008 12:00am
Copper sinks to equal four-year low

Copper sinks to equal four-year low

Copper rebounded 1.7 percent higher before reversing gains on Wednesday to match a 4-year low hit in the previous session as the uncertain economic outlook weighed despite a weak dollar. The dollar slipped against the yen and a basket of currencies in thi
Published 25 Dec, 2008 12:00am
Oil falls nine percent on economic gloom

Oil falls nine percent on economic gloom

Oil dropped 9 percent on Wednesday as another round of gloomy economic data showed the United States has fallen deeper into recession. US crude settled at $35.35, down $3.63 or 9.31 percent. London Brent crude settled at $36.61 a barrel, down $3.75. The l
Published 25 Dec, 2008 12:00am
Oil falls nine percent on economic gloom

Oil falls nine percent on economic gloom

Oil dropped 9 percent on Wednesday as another round of gloomy economic data showed the United States has fallen deeper into recession. US crude settled at $35.35, down $3.63 or 9.31 percent. London Brent crude settled at $36.61 a barrel, down $3.75. The l
Published 25 Dec, 2008 12:00am
Oil falls nine percent on economic gloom

Oil falls nine percent on economic gloom

Oil dropped 9 percent on Wednesday as another round of gloomy economic data showed the United States has fallen deeper into recession. US crude settled at $35.35, down $3.63 or 9.31 percent. London Brent crude settled at $36.61 a barrel, down $3.75. The l
Published 25 Dec, 2008 12:00am
US cocoa down

US cocoa down

US cocoa futures retraced to settle lower on Wednesday, a day after they soared nearly 4 percent, while concerns about tight supplies kept underpinning prices, traders said. Benchmark March trickled down $25 to close at $2,626 per tonne. Wide trading rang
Published 25 Dec, 2008 12:00am
Cocoa slips from 23-year peak

Cocoa slips from 23-year peak

Cocoa futures fell on Wednesday from the prior day's 23-year peak in London on origin selling and general profit-taking, dealers said. Sugar prices held steady while arabica coffee edged higher on the back of a weaker dollar. "We had a little bit of origi
Published 25 Dec, 2008 12:00am
US sugar up

US sugar up

Raw sugar futures bounced to a firmer finish on Wednesday, albeit in thin holiday volumes, as prices received a technical boost after an overnight test of underlying support held, brokers said. ICE agricultural futures traded an abbreviated session on Wed
Published 25 Dec, 2008 12:00am
Gold prices firm in New York

Gold prices firm in New York

US gold futures finished firmer on Wednesday after a fresh round of US economic readings reinforced fears of extended recession, though trade was thin with many participants gone for the Christmas holiday, traders said. Futures markets will be closed Thur
Published 25 Dec, 2008 12:00am
Gold slips in London

Gold slips in London

Gold slipped in thin holiday trade on Wednesday, shrugging off a weaker dollar, as crude oil prices fell over worries of deteriorating demand. In light trading ahead of Christmas, spot gold was down at $836.90 an ounce at 1253 GMT versus $838.55 late in N
Published 25 Dec, 2008 12:00am
20th LUMS convocation held

20th LUMS convocation held

Lahore University of Management Sciences (LUMS) organised its 20th Convocation on its campus Wednesday. 556 students participated in the graduation ceremony and received awards and medals, for outstanding academic performances and excellence. Renowned jou
Published 25 Dec, 2008 12:00am
Democratic Pakistan limps on without Benazir: analysts

Democratic Pakistan limps on without Benazir: analysts

Pakistan returned to civilian rule shortly after the assassination of Benazir Bhutto a year ago, but the nascent democracy is now caught in a web of crises that is threatening its future, analysts say. The government led by President Asif Ali Zardari, cam
Published 25 Dec, 2008 12:00am
Smeda, Aptma, UET sign MoU to implement EnMS

Smeda, Aptma, UET sign MoU to implement EnMS

Small and Medium Enterprises Development Authority (Smeda), All Pakistan Textile Mills Association (Aptma), and University of Engineering and Technology (UET), Lahore have signed a Memorandum of Understanding (MoU) to implement a comprehensive Energy Mana
Published 25 Dec, 2008 12:00am
Second long march of lawyers on March 9: Kurd

Second long march of lawyers on March 9: Kurd

President Supreme Court Bar Association (SCBA) Ali Ahmad Kurd on Wednesday said second long march of the lawyers to Islamabad on March 9 would conclude with a sit-in at the Constitution Avenue. Addressing a launching ceremony of book written by former Pre
Published 25 Dec, 2008 12:00am
'Billboards being removed to restore Lahore's beauty'

'Billboards being removed to restore Lahore's beauty'

Punjab Chief Minister, Shahbaz Sharif has said that to restore the beauty of Lahore, haphazard billboards were being removed while landscape and models were being set up at important places. He also directed to replace fused streetlights on all roads by J
Published 25 Dec, 2008 12:00am
Mansoor elected as President of LEJA

Mansoor elected as President of LEJA

Senior economic journalists Mansoor Ahmad (The News) and Itrat Bashir Ahmad (Business Recorder) have unanimously been elected as President and Vice-President, respectively, of the Lahore Economic Journalists Association (LEJA) for the year 2
Published 25 Dec, 2008 12:00am
Clarification

Clarification

Apropos a news item, "Proposal to reduce duty, taxes on LPG import deferred," carried by Business Recorder on December 23, 2008, LPG Association of Pakistan has submitted the following: The Government of Pakistan has already removed 5% Customs Duty
Published 25 Dec, 2008 12:00am
EP Department NOC must for approval of high-rise buildings

EP Department NOC must for approval of high-rise buildings

Chief Minister's Task Force for Environment Chairman Dr Awais Farooqi has asked the development authorities and TMAs of the province not to approve maps of commercial plazas and high-rise buildings without obtaining no objection certificate (NOC) from the
Published 25 Dec, 2008 12:00am
'PPP may quit Punjab government if due share not given'

'PPP may quit Punjab government if due share not given'

Pakistan People's Party leader and Pakistan Hockey Federation President Qasim Zia on Wednesday said that there is one man rule in Punjab while Governor Salmaan Taseer is playing his constitutional role. Talking to reporters here at National Hockey Stadium
Published 25 Dec, 2008 12:00am
Christmas today

Christmas today

Like other parts of the globe, the Christian community is celebrating Christmas with vigour and high spirits across Pakistan on Thursday. The X-mas celebrations commenced with mass services at the main churches in different parts of the country on Wednesd
Published 25 Dec, 2008 12:00am
Capital markets victims of politics?

Capital markets victims of politics?

This refers to the above article by Khalil Ahmad, which was posted in the December 15 issue of your newspaper.
Published 25 Dec, 2008 12:00am
Core issues

Core issues

Recently our Prime Minister appeared as a guest speaker on a TV channel. The host confronted the Prime Minister with core issues like the drone attacks, provincial-federal tussle in Punjab, the practice of making all important decisions in the Presidency
Published 25 Dec, 2008 12:00am
Vietnam matures into world's second-largest coffee exporter

Vietnam matures into world's second-largest coffee exporter

"The Germans are particularly picky when it comes to their coffee," says Vietnamese coffee tester Le Anh Tuan, as he produces a testing sheet to note his findings. The sheet mentions a number of palate sensations: moldy, woody, sour and tangy, among other
Published 25 Dec, 2008 12:00am
The compelling case of Turkey's constitution

The compelling case of Turkey's constitution

Turkish foreign minister and chief negotiator for the EU Ali Babacan, speaking at a Nato foreign ministers meeting recently, mentioned that the Turkish Constitution, as it stands now, will not help Turkey move forward with its reform agenda.
Published 25 Dec, 2008 12:00am
Quaid's concept of Pakistan

Quaid's concept of Pakistan

The nation today is observing the birth anniversary of its Father and the first Governor-General, Quaid-i-Azam Mohammad Ali Jinnah, to pay tribute to him for his selfless services for the just cause of the South Asian Muslims and deploying his prodigious
Published 25 Dec, 2008 12:00am
Woes of industrial workers over wages

Woes of industrial workers over wages

Quoting reliable sources, a Recorder Report appearing the other day has made the disconcerting revelation that Sindh Minimum Wages Board (SMWB) has failed to implement the provision of Rs 6,000 per month as the minimum wage for industrial workers.
Published 25 Dec, 2008 12:00am
Pakistan must be protected and preserved

Pakistan must be protected and preserved

Today's celebrations of the birth anniversary of Quaid-e-Azam Mohammad Ali Jinnah falling in the midst of mounting Indian pressure on world leaders to ensure more results from US-led attempts to force Pakistan into acquiescing to her outlandish demands, v
Published 25 Dec, 2008 12:00am
Benazir termed a charismatic leader

Benazir termed a charismatic leader

Pakistan's Ambassador to the United Nations Abdullah Hussain Haroon has described Shaheed Benazir Bhutto as a "charismatic and an able leader" devoted to the people's welfare and strengthening the country. In a statement marking her first death anniversar
Published 25 Dec, 2008 12:00am
Kaufmann, Dr Ebadi pay tributes to Benazir Bhutto

Kaufmann, Dr Ebadi pay tributes to Benazir Bhutto

A prominent British member of the Parliament and Iran's Nobel Prize winner paid rich tributes to late former prime minister Shaheed Mohtarma Benazir Bhutto describing her as a 'truly international personality' who gave hope to millions of Pakistanis.
Published 25 Dec, 2008 12:00am
Khalilzad calls Benazir Bhutto's death great tragedy

Khalilzad calls Benazir Bhutto's death great tragedy

United States' UN Ambassador Zalmay Khalilzad, reminding that Shaheed Benazir Bhutto stood for moderation, has called on moderates to present a united front against extremists for the success of democracy in Pakistan. "Her death was a great tragedy becaus
Published 25 Dec, 2008 12:00am
Lok Virsa holds workshop for craft related problems

Lok Virsa holds workshop for craft related problems

The National Institute of Folk and Traditional Heritage, Lok Virsa organised a one-day workshop to discuss craft related problems in connection with ongoing artisans-at-Work exhibition under "Craft of the Month" programme.
Published 25 Dec, 2008 12:00am
Polls in Pakistan described as watershed for democracy

Polls in Pakistan described as watershed for democracy

Poll experts in Dhaka described on Wednesday the recent parliamentary election in Pakistan as a watershed in democracy the world over, as it had seen end of a nine-year one-man rule and emergence of a strong democratic governance. Although, Benazir Bhutto
Published 25 Dec, 2008 12:00am
Warid introduces My5

Warid introduces My5

Warid has again taken the lead in introducing My5, a wonderful permanent feature for its Post-paid subscribers. My5 will enable Warid Post-paid subscribers to make unlimited calls and talk as much as they want on their five Friends and Family numbers.
Published 25 Dec, 2008 12:00am
JCR-VIS considers general insurance sector under significant stress

JCR-VIS considers general insurance sector under significant stress

Amidst weakening macroeconomic fundamentals, JCR-VIS Credit Rating Company Ltd believes that there is significant stress on the general insurance sector, as reflected in performance of both the underwriting and investment management functions.
Published 25 Dec, 2008 12:00am
Atlas Bank donates Rs 1.69 million for Balochistan quake relief works

Atlas Bank donates Rs 1.69 million for Balochistan quake relief works

The staff of Atlas Bank Limited has donated an amount of over Rs 1.69 million to go towards Balochistan earthquake relief effort. This donation was collected to help the families still suffering from the after-effects of earthquake. Hundreds are still exp
Published 25 Dec, 2008 12:00am
Sharif assumes charge as TCP finance director

Sharif assumes charge as TCP finance director

Muhammad Sharif Awan, a BS-19 officers of Income Tax Group, has assumed the charge of Director (Finance), Trading Corporation of Pakistan (TCP), Karachi with immediate effect from December 23, 2008. Prior to his present assignment, he served on various ke
Published 25 Dec, 2008 12:00am
Decline in oil prices: KESC asked to improve supply position

Decline in oil prices: KESC asked to improve supply position

The Ministry of Water and Power has asked Karachi Electric Supply Company (KESC) to make some investment in the public utility in the wake of a visible slump in the international fuel prices. Well placed sources told Business Recorder on Wednesday
Published 25 Dec, 2008 12:00am
'Pakistan needs more technical institutes'

'Pakistan needs more technical institutes'

Speakers at a seminar on Wednesday observed that there is an acute dearth of technical institutes in the country which is putting negative impact on the small and medium industrial growth.
Published 25 Dec, 2008 12:00am
The Weather

The Weather

The weather report on Wednesday (December 24, 2008) and the forecast for Thursday (December 25, 2008).

Published 25 Dec, 2008 12:00am
Governor Sindh cuts Xmas cake

Governor Sindh cuts Xmas cake

Sindh Governor, Dr Ishrat-ul-Ibad has said that non-Muslims here are not considered minorities but Pakistanis and this is the reason that they enjoy equal opportunities to progress in every field. He was addressing a gathering of members of Christian comm
Published 25 Dec, 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 25 Dec, 2008 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 25 Dec, 2008 12:00am
National Assembly urges India not to create war hype

National Assembly urges India not to create war hype

The National Assembly on Wednesday unanimously passed a resolution at the end of a two-day debate on 'national security policy' urging the international community to press India to close down its terror cell and stop anti-Pakistan propaganda.
Published 25 Dec, 2008 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 25 Dec, 2008 12:00am
National Assembly urges India not to create war hype

National Assembly urges India not to create war hype

The National Assembly on Wednesday unanimously passed a resolution at the end of a two-day debate on 'national security policy' urging the international community to press India to close down its terror cell and stop anti-Pakistan propaganda.
Published 25 Dec, 2008 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (December 24, 2008).

Published 25 Dec, 2008 12:00am
LDA drive against encroachments

LDA drive against encroachments

The staff of the Town Planning Wing of Lahore Development Authority (LDA) has partially demolished a kitchen and a storeroom that has been constructed illegally by the management of Al-Quraish Marriage Hall and occupying a public passage at College Road T
Published 25 Dec, 2008 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (December 24, 2008).

Published 25 Dec, 2008 12:00am
CDGK starts installing generators at water pumping stations

CDGK starts installing generators at water pumping stations

The City Government has started installing power generators at all its water pumping stations in the city to ensure uninterrupted water supply to the city, City Nazim Syed Mustafa Kamal told the business community. Addressing members of Korangi Associatio
Published 25 Dec, 2008 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Wednesday (December 24, 2008).

Published 25 Dec, 2008 12:00am
PPC body releases final list

PPC body releases final list

The Election Committee of Peshawar Press Club (PPC) on Wednesday released final list of candidates for the annual elections scheduled for December 29. According to the list, a one-on-one contest is expected between Shamim Shahid of the Daily Nation and si
Published 25 Dec, 2008 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Wednesday, (December 24, 2008).

Published 25 Dec, 2008 12:00am
PS gets new director administration

PS gets new director administration

The newly appointed Director Administration (DA) of Pakistan Steel. Rasul Bakhsh Phulpoto has taken over the charge on Tuesday. A BS-21 government officer of Sindh, Phulpoto has vast experience of management and administration.
Published 25 Dec, 2008 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Wednesday, (December 24, 2008).

Published 25 Dec, 2008 12:00am
NJLI Managed Fund prices

NJLI Managed Fund prices

New Jubilee Life Insurance Company has announced the offer and bid price per unit for the following funds effective from Wednesday, (December 24, 2008).

Published 25 Dec, 2008 12:00am
Fehmida extends greetings to Christian community

Fehmida extends greetings to Christian community

Speaker National Assembly Dr Fehmida Mirza has extended heartiest greetings to the Christian community on the auspicious occasion of Christmas. She said that Jesus Christ was ordained by Almighty Allah to preach love, peace, tolerance and brotherhood.
Published 25 Dec, 2008 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (December 24, 2008).

Published 25 Dec, 2008 12:00am
Japan grants aid to Al-Mustafa Development Network

Japan grants aid to Al-Mustafa Development Network

The Government of Japan granted a financial support of 71,101 dollar (approx. Rs 5.7 million) under the Grant Assistance for Grassroots Human Security Projects to the Al-Mustafa Development Network, a non-governmental organisation, for the implementation
Published 25 Dec, 2008 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Wednesday (December 24, 2008) and for Thursday (December 25, 2008).
Published 25 Dec, 2008 12:00am
Benazir Bhutto murder conspiracy against democracy, people: Kaira

Benazir Bhutto murder conspiracy against democracy, people: Kaira

Punjab Finance Minister, Tanvir Ashraf Kaira has said that Shaheed Benazir Bhutto was the voice of the poor and she wanted to eradicate terrorism and restore democracy in the country. While talking to various delegations of the Pakistan People's Party (PP
Published 25 Dec, 2008 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (December 24, 2008).

Published 25 Dec, 2008 12:00am
Shahbaz calls to follow Quaid's golden principles

Shahbaz calls to follow Quaid's golden principles

Punjab Chief Minister, Mian Muhammad Shahbaz Sharif has said the best way to pay homage to Father of the Nation Quaid-e-Azam Muhammad Ali Jinnah is to act upon his golden principles and make practical efforts to safeguard ideological and geographical fron
Published 25 Dec, 2008 12:00am
Nation united to give befitting reply to any aggression: Fehmida

Nation united to give befitting reply to any aggression: Fehmida

Speaker National Assembly Dr Fehmida Mirza has said the entire nation is united to give a befitting reply to any foreign aggression. "Our army is completely a professional army and is capable enough to defend its frontiers," she said while addressing the
Published 25 Dec, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (December 24, 2008).

Published 25 Dec, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (December 24, 2008).

Published 25 Dec, 2008 12:00am
PPP fighting for rights of downtrodden: Zardari

PPP fighting for rights of downtrodden: Zardari

President Asif Ali Zardari has said that PPP is people's welfare party which is fighting for the rights of workers, farmers, students and downtrodden people since its inception. He was telephonically addressing the public meeting held under the auspices o
Published 25 Dec, 2008 12:00am
FMFB seventh in MIX Global ranking

FMFB seventh in MIX Global ranking

The First Micro Finance Bank Ltd (FMFB) has been ranked seventh in the 2008 MIX Global 100 Composite Ranking of Microfinance Institutions (MFIs). The ranking issued by the Microfinance Information Exchange, Inc highlighted the performance of well rounded,
Published 25 Dec, 2008 12:00am
THE RUPEE: rates move both ways

THE RUPEE: rates move both ways

Rates moved both ways with modest fluctuations on the currency market on Wednesday, dealers said. The rupee fell three paisa against dollar on the interbank market for buying at 78.88 and two paisa for selling at 78.92, they said.
Published 25 Dec, 2008 12:00am
Rehman dispels impression of impending war

Rehman dispels impression of impending war

Rehman Malik, Advisor to Prime Minister on Interior, on Wednesday dispelled the impression of impending war between India and Pakistan and said that the political leaderships of India and Pakistan "are mature enough", and are against war.
Published 25 Dec, 2008 12:00am
THE RUPEE: rates move both ways

THE RUPEE: rates move both ways

Rates moved both ways with modest fluctuations on the currency market on Wednesday, dealers said. The rupee fell three paisa against dollar on the interbank market for buying at 78.88 and two paisa for selling at 78.92, they said.
Published 25 Dec, 2008 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Wednesday (December 24, 2008).

Published 25 Dec, 2008 12:00am
IESCO power suspension schedule

IESCO power suspension schedule

According to IESCO press release, power supply will remain suspended due to construction and annual maintenance work as per following schedule: Sunday 28 December 2008 from 0800 to 1600 hours, Alnoor Colony Feeder, P/Chowk Feeder, T&T Feeder, PAF Feeder,
Published 25 Dec, 2008 12:00am
Benazir had rare ability to mobilise public support: US scholar

Benazir had rare ability to mobilise public support: US scholar

Benazir Bhutto was not just a courageous leader committed to democracy but she also had the extraordinary ability to mobilise public support for causes, something that is necessary for any country to pull itself out of crisis, a top US scholar and former
Published 25 Dec, 2008 12:00am
Five suspects of Niwani house suicide attack arrested

Five suspects of Niwani house suicide attack arrested

The Crime Investigation Department (CID) officials have arrested five persons whom they suspect of planning a suicide attack on the residence of the Pakistan Muslim League-Nawaz (PML-N) Member of National Assembly (MNA), Rasheed Akber Niwani. The official
Published 25 Dec, 2008 12:00am