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Print - 2009-01-10
LPG price raised by Rs 120 per 45.4 kg

LPG price raised by Rs 120 per 45.4 kg

The price of Liquefied Petroleum Gas (LPG) has been raised by Rs 120 per 45.4kg cylinder on Friday, traders said. Business Recorder has learnt that marketing companies have increased the LPG prices by Rs 3 per kg and Rs 30 to Rs 35 per 11.8kg cylin
Published 10 Jan, 2009 12:00am
Pulses importers demand removal of 35 percent L/C margin

Pulses importers demand removal of 35 percent L/C margin

Pulses importers have demanded of the new Governor of the State Bank of Pakistan for removal of 35 percent LC margin for import of pulses, saying that rupee devaluation had already made the commodity import costlier.
Published 10 Jan, 2009 12:00am
HP BladeSystem dominates 'Top 500' list

HP BladeSystem dominates 'Top 500' list

Twice in a row, the powerful HP BladeSystem C-class server has dominated the 'Top 500' list of the world's largest supercomputing installations, by delivering a flexible architecture that provides customers with measurable cost, space and energy savings,
Published 10 Jan, 2009 12:00am
Reap delegation to meet Prime Minister today

Reap delegation to meet Prime Minister today

A delegation of Rice Exporters Association of Pakistan (Reap) led by its Chairman Abdul Rahim Janoo will meet Prime Minister Yousuf Raza Gilani on Saturday (today). The delegation will apprise the PM about current rice scenario, production, export target
Published 10 Jan, 2009 12:00am
Rs 50 million civic amenities' projects soon

Rs 50 million civic amenities' projects soon

A number of projects of civic amenities' provision will begin soon in Tehsil Liaqutpur to render this town a model city. District Co-ordination Officer Rahim Yar Khan, Dr Raheel Siddiqui said here while talking to reporters on Friday. "A grant of Rs 50 mi
Published 10 Jan, 2009 12:00am
LPG being sold above prices fixed by Ogra

LPG being sold above prices fixed by Ogra

LPG Distrib-utors Association of Pakistan (LPGDAP) has said that the Liquefied Petroleum Gas (LPG) is being sold above the prices fixed by the Oil and Gas Regulatory Authority (Ogra), in different cities of the country.
Published 10 Jan, 2009 12:00am
Kakar offers help for Karachi slum fire victims

Kakar offers help for Karachi slum fire victims

Federal Minister for Housing and Works Rahmatullah Kakar has extended all sorts of help for the victims of Karachi fire in which more than 30 persons including women and children are burnt alive and about two dozen huts reduced to ash.
Published 10 Jan, 2009 12:00am
SSUET students develop Braille system

SSUET students develop Braille system

The students of Sir Syed University of Engineering and Technology (SSUET) have developed a Braille system that works on the basis of micro-controller. The Micro-controller-based Braille system is a tactile communication mode that uses the mobile and other
Published 10 Jan, 2009 12:00am
Volume of trade with Italy not up to full potential: MCCI

Volume of trade with Italy not up to full potential: MCCI

The volume of trade between Pakistan and Italy, Mexico, Kenya, Brazil, Malaysia and other countries is not up to full potential while these countries present offer plenty of opportunities to enhance bilateral trade. This was stated by Anis Ahmed Sheikh, P
Published 10 Jan, 2009 12:00am
Economic crisis: depressed Pakistani severs head with electric saw

Economic crisis: depressed Pakistani severs head with electric saw

A Pakistani businessman, depressed by the impact of the economic crisis, killed himself with an electric saw by almost severing his head at his Sharjah home, Al-Ittihad newspaper said on Friday. The unnamed man, aged 60, was the boss of several constructi
Published 10 Jan, 2009 12:00am
US asked to deliver promised aid for paramilitary forces

US asked to deliver promised aid for paramilitary forces

Reaffirming Pakistan's commitment to eradicate the scourge of extremism and terrorism, Prime Minister Syed Yousuf Raza Gilani on Friday called upon US to deliver on its promised assistance for building the capacity of Pakistan's paramilitary forces.
Published 10 Jan, 2009 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (January 09, 2009).

Published 10 Jan, 2009 12:00am
Indian inflation slides again

Indian inflation slides again

Indian inflation fell more than expected to a 10-month low in late December and is seen heading sharply lower on the back of an expected fuel price cut, giving authorities greater freedom to prop up stumbling growth.
Published 10 Jan, 2009 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (January 09, 2009).

Published 10 Jan, 2009 12:00am
Indian inflation slides again

Indian inflation slides again

Indian inflation fell more than expected to a 10-month low in late December and is seen heading sharply lower on the back of an expected fuel price cut, giving authorities greater freedom to prop up stumbling growth.
Published 10 Jan, 2009 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Friday (January 09, 2009).

Published 10 Jan, 2009 12:00am
Indian inflation slides again

Indian inflation slides again

Indian inflation fell more than expected to a 10-month low in late December and is seen heading sharply lower on the back of an expected fuel price cut, giving authorities greater freedom to prop up stumbling growth.
Published 10 Jan, 2009 12:00am
Trichet says ECB eyeing supervisory role

Trichet says ECB eyeing supervisory role

The European Central Bank is considering an increased supervisory role in Europe''s financial sector, ECB President Jean-Claude Trichet said on Friday. He said the Frankfurt-based ECB was looking at taking a bigger hand supervision and could act as an aut
Published 10 Jan, 2009 12:00am
Trichet says ECB eyeing supervisory role

Trichet says ECB eyeing supervisory role

The European Central Bank is considering an increased supervisory role in Europe's financial sector, ECB President Jean-Claude Trichet said on Friday. He said the Frankfurt-based ECB was looking at taking a bigger hand supervision and could act as an auth
Published 10 Jan, 2009 12:00am
Trichet says ECB eyeing supervisory role

Trichet says ECB eyeing supervisory role

The European Central Bank is considering an increased supervisory role in Europe's financial sector, ECB President Jean-Claude Trichet said on Friday. He said the Frankfurt-based ECB was looking at taking a bigger hand supervision and could act as an auth
Published 10 Jan, 2009 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (January 09, 2009).

Published 10 Jan, 2009 12:00am
Georgia and US sign strategic accord

Georgia and US sign strategic accord

The United States and Georgia signed a strategic partnership accord here Friday in a reaffirmation of US support for Georgia's sovereignty after its war with Russia in August.
Published 10 Jan, 2009 12:00am
Georgia and US sign strategic accord

Georgia and US sign strategic accord

The United States and Georgia signed a strategic partnership accord here Friday in a reaffirmation of US support for Georgia's sovereignty after its war with Russia in August.
Published 10 Jan, 2009 12:00am
India''s Satyam head arrested, board scrapped

India''s Satyam head arrested, board scrapped

The chairman of Satyam Computer Services was arrested on Friday on charges of cheating and forgery, and the government dissolved the outsourcer''s board as authorities moved to limit fallout from India''s biggest corporate scandal. Chairman Ramalinga Raju
Published 10 Jan, 2009 12:00am
India's Satyam head arrested, board scrapped

India's Satyam head arrested, board scrapped

The chairman of Satyam Computer Services was arrested on Friday on charges of cheating and forgery, and the government dissolved the outsourcer's board as authorities moved to limit fallout from India's biggest corporate scandal. Chairman Ramalinga Raju,
Published 10 Jan, 2009 12:00am
India's Satyam head arrested, board scrapped

India's Satyam head arrested, board scrapped

The chairman of Satyam Computer Services was arrested on Friday on charges of cheating and forgery, and the government dissolved the outsourcer's board as authorities moved to limit fallout from India's biggest corporate scandal. Chairman Ramalinga Raju,
Published 10 Jan, 2009 12:00am
Germany pledges hands-off approach to Commerzbank

Germany pledges hands-off approach to Commerzbank

Germany promised a hands-off approach to Commerzbank on Friday after taking a 25 percent stake in the lender in the country''s first part-nationalisation of a bank since the Second World War. Berlin agreed on Thursday to inject 10 billion euros ($13.68 bi
Published 10 Jan, 2009 12:00am
Germany pledges hands-off approach to Commerzbank

Germany pledges hands-off approach to Commerzbank

Germany promised a hands-off approach to Commerzbank on Friday after taking a 25 percent stake in the lender in the country's first part-nationalisation of a bank since the Second World War. Berlin agreed on Thursday to inject 10 billion euros ($13.68 bil
Published 10 Jan, 2009 12:00am
Germany pledges hands-off approach to Commerzbank

Germany pledges hands-off approach to Commerzbank

Germany promised a hands-off approach to Commerzbank on Friday after taking a 25 percent stake in the lender in the country's first part-nationalisation of a bank since the Second World War. Berlin agreed on Thursday to inject 10 billion euros ($13.68 bil
Published 10 Jan, 2009 12:00am
''Fed cash flood poses inflation risks''

''Fed cash flood poses inflation risks''

The Federal Reserve''s dramatic dumping of money into the economy poses inflation risks down the road, and the central bank may need to raise interest rates before credit markets have completely recovered, Richmond Fed President Jeffrey Lacker said on Fri
Published 10 Jan, 2009 12:00am
'Fed cash flood poses inflation risks'

'Fed cash flood poses inflation risks'

The Federal Reserve's dramatic dumping of money into the economy poses inflation risks down the road, and the central bank may need to raise interest rates before credit markets have completely recovered, Richmond Fed President Jeffrey Lacker said on Frid
Published 10 Jan, 2009 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (January 09, 2009).

Published 10 Jan, 2009 12:00am
'Fed cash flood poses inflation risks'

'Fed cash flood poses inflation risks'

The Federal Reserve's dramatic dumping of money into the economy poses inflation risks down the road, and the central bank may need to raise interest rates before credit markets have completely recovered, Richmond Fed President Jeffrey Lacker said on Frid
Published 10 Jan, 2009 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (January 09, 2009).
Published 10 Jan, 2009 12:00am
S&P warns Greece and Ireland as gloom deepens

S&P warns Greece and Ireland as gloom deepens

Standard & Poor''s warned Greece and Ireland on Friday it could cut their sovereign debt ratings as the global slowdown brought an abrupt end to years of solid growth and placed public finances under increasing strain.
Published 10 Jan, 2009 12:00am
S&P warns Greece and Ireland as gloom deepens

S&P warns Greece and Ireland as gloom deepens

Standard & Poor's warned Greece and Ireland on Friday it could cut their sovereign debt ratings as the global slowdown brought an abrupt end to years of solid growth and placed public finances under increasing strain.
Published 10 Jan, 2009 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Friday (January 09, 2009).

Published 10 Jan, 2009 12:00am
S&P warns Greece and Ireland as gloom deepens

S&P warns Greece and Ireland as gloom deepens

Standard & Poor's warned Greece and Ireland on Friday it could cut their sovereign debt ratings as the global slowdown brought an abrupt end to years of solid growth and placed public finances under increasing strain.
Published 10 Jan, 2009 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Friday (January 09, 2009).

Published 10 Jan, 2009 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Friday (January 09, 2009).

Published 10 Jan, 2009 12:00am
Canada''s economy sheds more jobs in December

Canada''s economy sheds more jobs in December

Canadian employers cut more jobs than expected in December for the second straight month and the unemployment rate jumped to its highest since January 2006 in a sign that the economy has likely slipped into a recession.
Published 10 Jan, 2009 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Friday (January 09, 2009).

Published 10 Jan, 2009 12:00am
Canada's economy sheds more jobs in December

Canada's economy sheds more jobs in December

Canadian employers cut more jobs than expected in December for the second straight month and the unemployment rate jumped to its highest since January 2006 in a sign that the economy has likely slipped into a recession.
Published 10 Jan, 2009 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 10 Jan, 2009 12:00am
Canada's economy sheds more jobs in December

Canada's economy sheds more jobs in December

Canadian employers cut more jobs than expected in December for the second straight month and the unemployment rate jumped to its highest since January 2006 in a sign that the economy has likely slipped into a recession.
Published 10 Jan, 2009 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 10 Jan, 2009 12:00am
FPSC new member

FPSC new member

Syed Asif Shah Former Secretary, Ministry of Commerce has joined Federal Public Service Commission (FPSC) as member with effect from 9th January 2009.
Published 10 Jan, 2009 12:00am
FPSC new member

FPSC new member

Syed Asif Shah Former Secretary, Ministry of Commerce has joined Federal Public Service Commission (FPSC) as member with effect from 9th January 2009.
Published 10 Jan, 2009 12:00am
New York cotton

New York cotton

Thursday's closing prices of New York cotton in US cents/lb.

Published 10 Jan, 2009 12:00am
Clarification

Clarification

Apropos a news item, "New LPG price formula prepared to benefit one firm," carried by Business Recorder on January 8, 2009, the LPG Association of Pakistan has clarified that the source cited in the story claims that the two-tier LPG retail pricing
Published 10 Jan, 2009 12:00am
New York cotton

New York cotton

Thursday's closing prices of New York cotton in US cents/lb.

Published 10 Jan, 2009 12:00am
Clarification

Clarification

Apropos a news item, "New LPG price formula prepared to benefit one firm," carried by Business Recorder on January 8, 2009, the LPG Association of Pakistan has clarified that the source cited in the story claims that the two-tier LPG retail pricing
Published 10 Jan, 2009 12:00am
Clarification

Clarification

Apropos a news item, "New LPG price formula prepared to benefit one firm," carried by Business Recorder on January 8, 2009, the LPG Association of Pakistan has clarified that the source cited in the story claims that the two-tier LPG retail pricing
Published 10 Jan, 2009 12:00am
BRIDGE NOTES: Hoping for the best

BRIDGE NOTES: Hoping for the best

Bridge is a fascinating game in many ways. Perhaps of all sports it is the one sport which gives the maximum contentment and thrill when either the Declarer pulls off a difficult contract or the Defenders execute an excellent defence to beat the contract.
Published 10 Jan, 2009 12:00am
SBP renews Pacra, JCR-VIS status

SBP renews Pacra, JCR-VIS status

The State Bank of Pakistan has renewed the status of external credit assessment institutions (ECAIs) of both credit rating agencies operating in the country ie JCR-VIS Credit Rating Company Limited and The Pakistan Credit Rating Agency Limited (Pacra) for
Published 10 Jan, 2009 12:00am
Two-year moratorium for debt payment demanded

Two-year moratorium for debt payment demanded

Former President Multan Chamber of Commerce and Industry (MCCI) Khawaja Muhammad Jalal-uddin Roomi has demanded at least two years moratorium for payment of debts besides decrease in bank mark-up in view of the inherent capacity of the textile industry to
Published 10 Jan, 2009 12:00am
LITERARY NOTES: A debate on post-modernism

LITERARY NOTES: A debate on post-modernism

One couldn't imagine that Dr Gopi Chand Narang would modify post-modernism so much as to make it a substitute for modern progressive thought. At the seminar on Urdu criticism in Karachi University Dr Narang's paper went out of the way to paint a rosy pict
Published 10 Jan, 2009 12:00am
SGCMRP to continue supporting capital market reforms

SGCMRP to continue supporting capital market reforms

The Second Generation of Capital Market Reform Programme (SGCMRP) will continue supporting capital market reforms of Pakistan, while the ADB's ongoing Technical Assistance (TA) programme for the State Bank of Pakistan (SBP) will support the banking sector
Published 10 Jan, 2009 12:00am
Guljee gone but his legend lives on

Guljee gone but his legend lives on

Ismail Guljee (1926-2007) was an award-winning, globally famous Pakistani artist, born in Peshawar. He made his name in the 50s as a portrait painter. In the 60s, he also began to paint abstract compositions in the American style called 'Action Painting'.
Published 10 Jan, 2009 12:00am
Industrial workers protest energy crisis

Industrial workers protest energy crisis

The Pakistan Industrial and Traders Association Front (PIAF) in line with scheduled series of protests against the energy crisis, the industrialists and industrial workers of Kot Lakhpat Industrial Estate on Friday staged a 'coffin-carrying' protest to pr
Published 10 Jan, 2009 12:00am
Mixed trend on LSE

Mixed trend on LSE

Mixed sentiment prevailed on Lahore Stock Exchange on Friday and the equities remained under selling pressure on account of profit-taking but finally closed in green zone following buying on dip in select scrips. The LSE-25 index registered an increase of
Published 10 Jan, 2009 12:00am
Mixed trend on LSE

Mixed trend on LSE

Mixed sentiment prevailed on Lahore Stock Exchange on Friday and the equities remained under selling pressure on account of profit-taking but finally closed in green zone following buying on dip in select scrips. The LSE-25 index registered an increase of
Published 10 Jan, 2009 12:00am
Criminal silence on Gaza massacre

Criminal silence on Gaza massacre

The current massacre in Gaza by the Zionists is a catastrophe for the people, a searing arrow through the heart of the Muslim Ummah and a humiliation for Islam. A tiny strip of land only 139 sq miles in size is crammed with 1.5 million people living in th
Published 10 Jan, 2009 12:00am
New criteria for valuation of debt securities unveiled

New criteria for valuation of debt securities unveiled

The Securities and Exchange Commission of Pakistan (SECP) has unveiled a fresh criteria for valuation of debt securities held by the Collective Investment Schemes (CIS) from January 10, 2009. The SECP has superseded Circular 6 of 2008 through a circular N
Published 10 Jan, 2009 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 273,822 tonnes of cargo including 209,350 tonnes of import and 64,472 tonnes of export during last 72 hours ending at 0700 hours on Friday. The freights comprised of 173,697 tonnes of dry cargo including 119,381 tonnes of general
Published 10 Jan, 2009 12:00am
New criteria for valuation of debt securities unveiled

New criteria for valuation of debt securities unveiled

The Securities and Exchange Commission of Pakistan (SECP) has unveiled a fresh criteria for valuation of debt securities held by the Collective Investment Schemes (CIS) from January 10, 2009. The SECP has superseded Circular 6 of 2008 through a circular N
Published 10 Jan, 2009 12:00am