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Print - 2009-01-21
Philippines shares tumble

Philippines shares tumble

Philippines shares fell 1.3 percent on Tuesday amid renewed concerns about the US economy, which overwhelmed optimism created by the upcoming inauguration of Barack Obama as US president, dealers said. The composite index fell 25.06 points to 1,897.93, wh
Published 21 Jan, 2009 12:00am
Britain's top share index falls

Britain's top share index falls

Britain's top share index closed 0.4 percent lower on Tuesday reflecting another tumble by banks as investors shunned the beleaguered sector, although gains by defensive drug issues and heavyweight oils limited losses. At the close, the FTSE 100 index was
Published 21 Jan, 2009 12:00am
European spreads widen

European spreads widen

European credit spreads widened on Tuesday on fears about the banking sector after losses at State Street Corp added to concerns that Royal Bank of Scotland would not pay coupons on subordinated debt. By 1645 GMT, the Markit iTraxx Crossover index, made u
Published 21 Jan, 2009 12:00am
European spreads widen

European spreads widen

European credit spreads widened on Tuesday on fears about the banking sector after losses at State Street Corp added to concerns that Royal Bank of Scotland would not pay coupons on subordinated debt. By 1645 GMT, the Markit iTraxx Crossover index, made u
Published 21 Jan, 2009 12:00am
Indian shares end 2.45 percent down

Indian shares end 2.45 percent down

Indian stocks fell 2.45 percent on Tuesday, as foreign funds sold on fresh concerns over the global economic outlook, and ahead of the inauguration of US president-elect Barack Obama. The benchmark 30-share Sensex index slid 229.02 points to 9,100.55. "We
Published 21 Jan, 2009 12:00am
Bosnian envoy meets Nawaz

Bosnian envoy meets Nawaz

The Bosnian Ambassador to Pakistan Damir Dzanko called on former prime minister and PML-N Quaid Muhammad Nawaz Sharif at his Raiwind residence on Tuesday. During the meeting, various matters of mutual interest came under discussion. Sources in the PML-N t
Published 21 Jan, 2009 12:00am
Revival package for textile industry soon

Revival package for textile industry soon

The federal government is acting fast on having a revival package for the textile industry within days, told sources. According to the sources, the Federal Advisor on Finance Shaukat Tarin has met the Governor State Bank of Pakistan (SBP) a day earlier an
Published 21 Jan, 2009 12:00am
Number of cinema houses reduces to 139

Number of cinema houses reduces to 139

Cinema houses, once a major source of entertainment for the people, are fast losing their business not only in the country but also in the provincial metropolis while most of them have been turned into commercial centres by their owners to generate handso
Published 21 Jan, 2009 12:00am
China's soya imports slow

China's soya imports slow

China's robust soybean imports have slowed as extreme cold weather in the United States has hampered grain transport and movement of ships at leading ports, Asian traders said on Tuesday. The harsh weather has affected operations at ports on the US Gulf C
Published 21 Jan, 2009 12:00am
New York cotton settles lower

New York cotton settles lower

Cotton futures finished lower Tuesday on investment sales and the market may test the lower end of its trading range following a holiday weekend, brokers said. The market was closed Monday for the Martin Luther King Jr. holiday. The key March cotton contr
Published 21 Jan, 2009 12:00am
Copper falls five percent

Copper falls five percent

Copper fell 5 percent on Tuesday on a stronger dollar and as a jump in inventories added to concerns about demand. Copper dragged all metals lower, with aluminium falling to its lowest level since July 2003 and zinc down 4.6 percent. "Demand has vanished.
Published 21 Jan, 2009 12:00am
Oil jumps seven percent ahead of contract expiry

Oil jumps seven percent ahead of contract expiry

Oil jumped 7 percent on Tuesday as traders sought to square their books ahead of the expiry of the February US futures contract. US February crude, which expires at the close of trade on Tuesday, rose $2.67 to $39.18 a barrel by 14:20 EST (1920 GMT), whil
Published 21 Jan, 2009 12:00am
London cocoa soars to 23-year high

London cocoa soars to 23-year high

Cocoa futures in London soared to a fresh 23-year high on Tuesday, boosted by a sharp decline in the value of sterling and continued concern about slow port arrivals in top producer Ivory Coast. Raw sugar futures also rose on fund and investor buying of t
Published 21 Jan, 2009 12:00am
Gold up three percent in London

Gold up three percent in London

Gold rose more than 3 percent to an 11-day high of $860.40 an ounce on Tuesday amid market talk of a large order, with firm investment demand for gold as a haven from risk fuelling buying of the precious metal. Spot gold was quoted at $854.60/856.60 an ou
Published 21 Jan, 2009 12:00am
US MIDDAY: cocoa plummets

US MIDDAY: cocoa plummets

US cocoa futures buckled 5 percent to a five-week low in early trade on Tuesday, as sterling sank against the dollar, while arabica coffee dipped along with many other commodities, traders said. Arabica coffee for March delivery dropped 0.70 cent at $1.15
Published 21 Jan, 2009 12:00am
US MIDDAY: sugar slips

US MIDDAY: sugar slips

Raw sugar futures on ICE Futures US at 1315 GMT. The sugar market was shut Monday for Martin Luther King Jr. Day. March raw sugar contract slips 0.08 cent to 12.18 cents per lb. Trading from 12.02 to 12.20 cents. Volume at 6,925 lots.
Published 21 Jan, 2009 12:00am
US MIDDAY: corn, wheat and soya up

US MIDDAY: corn, wheat and soya up

Corn futures on the Chicago Board of Trade opened higher on Tuesday as the corn/soybean spread corrected following a rally in soybeans last week, traders said.
Published 21 Jan, 2009 12:00am
US MIDDAY: copper down

US MIDDAY: copper down

US copper futures drifted into negative territory early Tuesday, pulled down by a firmer dollar, renewed weakness in the price of crude oil and pessimistic demand prospects highlighted by a five-year high in London stockpiles.
Published 21 Jan, 2009 12:00am
US MIDDAY: gold surges

US MIDDAY: gold surges

US gold futures jumped more than 2 percent early on Tuesday as huge losses of UK banks reignited worries about a deepening global economic crisis, bolstering gold's status as a safe haven. Gold for February delivery rose $18.60, or 2.2 percent, to $858.50
Published 21 Jan, 2009 12:00am
All resources being utilised to enhance agriculture yield: Olakh

All resources being utilised to enhance agriculture yield: Olakh

Punjab Minister for Agriculture Ahmad Ali Olakh has said that all available resources are being utilised to enhance agricultural yield in the province while the provincial government ultimate goal is to ensure provision of unadulterated and nutritious foo
Published 21 Jan, 2009 12:00am
Gas supply to CNG stations resumed

Gas supply to CNG stations resumed

Gas supply to all CNG stations was resumed here on Tuesday as Sui Northern Gas Pipeline Limited (SNGPL) witnessed only 400 MMCFD gas shortfall as compared to 740 MMCFD earlier. Sui Northern Gas Pipeline Limited had made three groups of CNG stations and wa
Published 21 Jan, 2009 12:00am
PSRMA raps Qasim Teli for remarks, seeks apology

PSRMA raps Qasim Teli for remarks, seeks apology

Pakistan Steel Re-rolling Mills Association (PSRMA) has urged the former President of KCCI Siraj Qasam Teli to immediately withdraw his letter, written to President Asif Ali Zardari for suspension of PSRM license failing which the Association reserves the
Published 21 Jan, 2009 12:00am
Sale of second-hand warm clothes on rise

Sale of second-hand warm clothes on rise

The recent rains in twin cities of Rawalpindi and Islamabad, subsequently, the snowfall in Murree has not only change the weather but also increase the sale of second-hand warm clothes. A huge crowd was observed at stalls of second-hand clothes in Faizaba
Published 21 Jan, 2009 12:00am
Kashmir leader reminds Obama of Kashmir issue

Kashmir leader reminds Obama of Kashmir issue

As Barack Obama takes oath as the 44th US President, a Kashmir leader has reminded him of the issue relating to the disputed Himalayan region which has been a sticking point in the good relations between Pakistan and India for the past six decades.
Published 21 Jan, 2009 12:00am
2008 eighth warmest year on record

2008 eighth warmest year on record

Last year was the eighth warmest year on record, according to the National Climatic Data Centre. The world's temperature in 2008 tied that of 2001 according to the centre, a division of the National Oceanic and Atmospheric Administration, a private televi
Published 21 Jan, 2009 12:00am
Deutsche Bank declares PLS profit rates

Deutsche Bank declares PLS profit rates

Deutsche Bank have declared the profit rates on various PLS deposits for the period of six months ended 31st December 2008:

Published 21 Jan, 2009 12:00am
Deutsche Bank declares PLS profit rates

Deutsche Bank declares PLS profit rates

Deutsche Bank have declared the profit rates on various PLS deposits for the period of six months ended 31st December 2008:

Published 21 Jan, 2009 12:00am
Minister directs for transparency in revenue collection

Minister directs for transparency in revenue collection

All the appointments made in Provincial Revenue Department after February 18, 2008 general elections were not mala-fide and the Minister for Revenue, Habib-ur-Rehman Tanoli has asked all concerned in the department to ensure transparency in the revenue co
Published 21 Jan, 2009 12:00am
Enemies within

Enemies within

Pakistan's security and freedom have no danger from outside, instead Pakistan's enemies are living in Pakistan. I urge all true and brave Pakistanis, just be a policeman and look out for Pakistan's enemies in your area and report it to local police/ranger
Published 21 Jan, 2009 12:00am
Boycott of Israeli goods

Boycott of Israeli goods

The slaughter and destruction of Gaza's Muslims may have ceased, perhaps temporarily but the wounds remain fresh of the innumerable families destroyed, of the children killed or maimed, the many mothers, fathers and brothers wantonly murdered for no fault
Published 21 Jan, 2009 12:00am
Root causes of terrorism

Root causes of terrorism

When we look around at our society, we come to know that we are witnessing an era that is teemed with the threat of terrorism. No public place is safe. Even worship places are unsafe. People worship under high security measures. Mankind has lost its digni
Published 21 Jan, 2009 12:00am
Riots expose roots of anger on EU's edges

Riots expose roots of anger on EU's edges

Standing in the X-ray room of the gleaming private clinic he opened last year, Leons Platacis is an incongruous champion for youths who rioted in Latvia last week, part of a wave of European protests. The Latvian businessman, who set up the clinic with hi
Published 21 Jan, 2009 12:00am
GOOD MORNING: migration more attractive option for victims of crime

GOOD MORNING: migration more attractive option for victims of crime

I am trying to understand the relationship between the state of affairs in the country and the influence that it has on the fact Pakistanis want to migrate to other places, especially Western societies. I spent some time with a lovely family of seven peop
Published 21 Jan, 2009 12:00am
Pakistan Bait-ul-Mal and poverty eradication

Pakistan Bait-ul-Mal and poverty eradication

To help the weak, the poor and the destitute stand on their own feet is obligatory upon all of us. In a society where class differences are on the rise, discrimination, rift and restlessness increases. Therefore those who are financially underprivileged a
Published 21 Jan, 2009 12:00am
Plans sans direction

Plans sans direction

Speaking at a seminar in Lahore on Thursday, Federal Environment Minister Hameedullah Jan Afridi said that the government is making all-out efforts to encourage the use of compressed natural gas (CNG) since it is an environment-friendly fuel. Towards that
Published 21 Jan, 2009 12:00am
Dealing with the energy crisis

Dealing with the energy crisis

Advisor to the Prime Minister on Finance Shaukat Tarin has stated that the Ministry of Finance has set a six-month deadline for the elimination of the 150 billion rupee circular debt of Pakistan Electric Power Company (Pepco). He admitted that the circula
Published 21 Jan, 2009 12:00am
Early signs of improvement in current account deficit

Early signs of improvement in current account deficit

The deteriorating trend in the country's current account deficit witnessed for the last few years seems to have been finally arrested. According to the latest data released by the State Bank, Pakistan's current account deficit declined significantly by 43
Published 21 Jan, 2009 12:00am
EFU General Insurance's rating reaffirmed with stable outlook

EFU General Insurance's rating reaffirmed with stable outlook

JCR-VIS Credit Rating Company Limited has reaffirmed the Insurer Financial Strength (IFS) rating of EFU General Insurance Limited (EFUG) at 'AA' (Double A). Outlook on the assigned rating is stable. EFUG is positioned as one of the largest private sector
Published 21 Jan, 2009 12:00am
Fish smuggling to Iran flourishing amid 60 percent winter catch decline

Fish smuggling to Iran flourishing amid 60 percent winter catch decline

Fish smuggling to Iran has increased amid significant decline of 60 per cent in winter catch, as over 30 big trucks loaded with fish are leaving the fish harbour every day for Iran. Although the fishermen defend the illegal trade, arguing it provides them
Published 21 Jan, 2009 12:00am
CDGK fails to resolve salary issue of defunct KDA employees

CDGK fails to resolve salary issue of defunct KDA employees

Thousands of employees of the defunct Karachi Development Authority (KDA) are waiting for the payment of their monthly salary after a lapse of almost a month, Business Recorder reliably learnt on Tuesday. The city government had failed to resolve t
Published 21 Jan, 2009 12:00am
'Economic crisis due to negative policies of politicians'

'Economic crisis due to negative policies of politicians'

Karachi Chamber of Commerce & Industry (KCCI) organised a brainstorming lecture session on "Background of Recurring Economic Crises in Pakistan" addressed by Dr Kaiser Bengali, distinguished economist of Pakistan having deep insight on domestic and intern
Published 21 Jan, 2009 12:00am
Vacancies for teachers

Vacancies for teachers

Regional Manager Employment Exchange Hyderabad has announced four vacancies of teachers, two each for Science and English, are available with different employers. He advised the interested candidates to contact at his office situated at 1st Floor, Karim M
Published 21 Jan, 2009 12:00am
Sindh to procure 0.7 million tonnes of wheat this year

Sindh to procure 0.7 million tonnes of wheat this year

The federal government has fixed wheat procurement target of 0.7 million tonnes for the Sindh province, official sources in the Food Ministry told Business Recorder on Tuesday. The province was assigned target in a meeting held at Islamabad recentl
Published 21 Jan, 2009 12:00am
Appointment of advisor to chairman FBR hailed

Appointment of advisor to chairman FBR hailed

The Chairman Pakistan Industrial and Traders Associations Front (PIAF) Irfan Qaiser Sheikh has hailed the appointment of Abdul Wadood Khan as an Advisor to Chairman Federal Board of Revenue (FBR).
Published 21 Jan, 2009 12:00am
Iqbal made Director Operations Carlton Hotel

Iqbal made Director Operations Carlton Hotel

Venus Group and the management of Carlton Resort Hotel and Club are pleased to announce the appointment of Mohammad Iqbal Ahmed as new Director Operations of the hotel.
Published 21 Jan, 2009 12:00am
Inter Collegiate Athletics trials from February 9

Inter Collegiate Athletics trials from February 9

The Director Physical Education, Board of Intermediate and Secondary Education Hyderabad has announced that BISE Hyderabad Inter Collegiate Athletics trials for class IX and X (Girls) will be held on February 9 and 10 from 10:00am at Public School, Hydera
Published 21 Jan, 2009 12:00am
Bacha, Wali Khan death anniversaries on January 25

Bacha, Wali Khan death anniversaries on January 25

The death anniversaries of Bacha Khan, the Great Khudai Khidmatgar leader and Khan Abdul Wali Khan, Rehbar Awami National Party will be observed on January, 25 2009, said an official notification here on Tuesday. In order to pay befitting tribute to their
Published 21 Jan, 2009 12:00am
Punjab Art Council organises art competition

Punjab Art Council organises art competition

An art competition 'Pakistan-as I see it' organised by Punjab Art Council was held at Open Air Theater of Bagh-e-Jinnah here on Tuesday. More than 500 children of 40 schools of Lahore participated in the competition and expressed their feelings and sentim
Published 21 Jan, 2009 12:00am
WFP, Unilever commend students of Bay View Academy

WFP, Unilever commend students of Bay View Academy

World Food Programme (WFP), food aid organisation of the United Nations, in collaboration with Unilever Pakistan Limited commended 10 students of the local school Bay View Academy for their unprecedented efforts in creating awareness and collecting goods
Published 21 Jan, 2009 12:00am
Government spending Rs 1.90 billion on livestock sector uplift

Government spending Rs 1.90 billion on livestock sector uplift

Senior Minister, Raja Riaz Ahmad has said the government is spending an amount of Rs 1.90 billion on livestock sector development for giving sufficient facilities to the rural population to help increase the production of milk, eggs and meat. He was talki
Published 21 Jan, 2009 12:00am
District TB officers receive KFW donated vehicles

District TB officers receive KFW donated vehicles

NWFP Minister for Health, Syed Zahir Ali Shah has formally handed over vehicles, provided by KFW to all the District TB Officers to strengthen mechanism of monitoring and supervision of anti-TB activities to control the disease effectively in the province
Published 21 Jan, 2009 12:00am
Article in FEER: government urged to talk to ADB in strong terms

Article in FEER: government urged to talk to ADB in strong terms

The article by ADB representative, titled 'A plea to Pakistan: Fix Your Economy', which appeared in Far Eastern Economic Review (FEER) on January 10, may isolate Pakistan and further aggravate the economic crisis of this country, said Talha Mehmood, chair
Published 21 Jan, 2009 12:00am
The Weather

The Weather

The weather report on Tuesday (January 20, 2009) and the forecast for Wednesday (January 21, 2009).

Published 21 Jan, 2009 12:00am
BoK re-allowed to promote Islamic banking

BoK re-allowed to promote Islamic banking

The NWFP legislature on Tuesday passed the Bank of Khyber (Amendment) Bill, 2009 re-allowing the bank to promote Islamic banking in addition to conventional banking. The purpose of the bill was to further amend the clause (f) of the Preamble of the Bank o
Published 21 Jan, 2009 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 21 Jan, 2009 12:00am
Addressing terrorism: call to form Pak-India Joint Investigative Agency

Addressing terrorism: call to form Pak-India Joint Investigative Agency

Joint Action Committee (JAC) for Peoples Rights has demanded of the governments of Pakistan and India to immediately set up a "Joint Action and Investigative Agency" for total co-operation and mutual assistance to address and overcome the problems of terr
Published 21 Jan, 2009 12:00am
Short-term renewable energy policy extended

Short-term renewable energy policy extended

The Board of Directors of Alternative Energy Development Board (AEDB) on Tuesday approved the extension of short-term renewable energy policy till December this year. The decision was taken at the 17th meeting of the board that was chaired by Federal Mini
Published 21 Jan, 2009 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 21 Jan, 2009 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 21 Jan, 2009 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (January 20, 2009).

Published 21 Jan, 2009 12:00am
Steps taken for smooth supply of urea fertilisers

Steps taken for smooth supply of urea fertilisers

On the direction of Punjab CM Shahbaz Sharif, special steps have been taken on Tuesday for smooth supply of urea fertiliser to the farmers on subsidised rates in the district. DCO Saeed Wahla stated this while chairing a meeting held to devise the strateg
Published 21 Jan, 2009 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (January 20, 2009).

Published 21 Jan, 2009 12:00am
'Raise in wheat procurement price to benefit farmers'

'Raise in wheat procurement price to benefit farmers'

Minister for Food and Agriculture Nazar Muhammad Gondal on Tuesday said that the decision to raise wheat price was aimed at benefiting the small farmers and poor segments of the society. Responding to point raised by MNA Abdul Qadir Khanzada, he said the
Published 21 Jan, 2009 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (January 20, 2009).

Published 21 Jan, 2009 12:00am
ICCI President for attracting maximum Japanese investment

ICCI President for attracting maximum Japanese investment

Pakistan is strategically located at a regional hub with abundant land and natural resources, strong human resources, large and growing domestic market which offers tremendous investment opportunities to countries like Japan. ICCI President Mian Shaukat M
Published 21 Jan, 2009 12:00am
Poultry rates

Poultry rates

Wholesale poultry rates on Tuesday (January 20, 2009) and for Wednesday (January 21, 2009).
Published 21 Jan, 2009 12:00am
13 shopkeepers booked for overcharging

13 shopkeepers booked for overcharging

Special Magi-strate and Rationing Controller on the directives of DCO on Tuesday made surprise visits to various markets and checked the prices of daily use items and the availability of flour. The raiding party registered 13 cases against for overchargin
Published 21 Jan, 2009 12:00am
Incinerators, autoclaves to be installed in DHQ hospitals

Incinerators, autoclaves to be installed in DHQ hospitals

Environmental Protection Department (EPD), Punjab has started a survey for installation of 10 incinerators and 10 autoclaves in district headquarter (DHQ) hospitals of the province. The department officials said the incinerators and autoclaves have been p
Published 21 Jan, 2009 12:00am
Anti-polio drive launched

Anti-polio drive launched

The government has launched anti-polio drive with new determination and focussed strategy while with the co-operation of all segments of society as well as international donor organisations, polio will be completely wiped out from the country. The Punjab
Published 21 Jan, 2009 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (January 20, 2009).

Published 21 Jan, 2009 12:00am
Students banned from house jobs in government hospitals

Students banned from house jobs in government hospitals

Punjab government has put a ban on the government hospitals to give house job to students of private medical colleges. According to the sources, the government has issued a letter No 32008(N)SO(ME)8 dated 17-11-08 stating that no student of private medica
Published 21 Jan, 2009 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (January 20, 2009).

Published 21 Jan, 2009 12:00am
'Talented students being encouraged by awarding cash prizes'

'Talented students being encouraged by awarding cash prizes'

The present Punjab Government, under the visionary leadership of Punjab Chief Minister Mian Muhammad Shahbaz Sharif, has introduced revolutionary policies in education sector under which talented students are being encouraged by awarding them attractive c
Published 21 Jan, 2009 12:00am
UAF declares two more PhD results

UAF declares two more PhD results

University of Agriculture Faisalabad (UAF), Controller of Examinations has announced two more PhD results of Muhammad Issa Khan and Ali Asghar as pass. They completed their PhD studies under the supervision of Professor Dr Faqir Muhammad Anjum Director Ge
Published 21 Jan, 2009 12:00am
World Bank to provide $3.44 billion for PEDP

World Bank to provide $3.44 billion for PEDP

Punjab Government is planning to launch Punjab Education Development Programme (PEDP), which will be completed with the total cost of $3.440 billion with the financial assistance of World Bank and other international donor agencies to increase in net enro
Published 21 Jan, 2009 12:00am
THE RUPEE: dollar soars above 80

THE RUPEE: dollar soars above 80

The State Bank's directive last week to the banks to procure interbank dollars to clear oil payments, forced the rupee to breach the barrier of 80 on the interbank market on Tuesday, dealers said. On the interbank market, the rupee fell sharply, losing 50
Published 21 Jan, 2009 12:00am
Killing of Punjab University student condemned

Killing of Punjab University student condemned

An emergency meeting of Punjab University Deans Committee held under the chairmanship of Vice-Chancellor Professor Dr Mujahid Kamran on Tuesday. The meeting strongly condemned the killing of PU Department of Physics BSc Electronics student Osama Ilyas and
Published 21 Jan, 2009 12:00am
THE RUPEE: dollar soars above 80

THE RUPEE: dollar soars above 80

The State Bank's directive last week to the banks to procure interbank dollars to clear oil payments, forced the rupee to breach the barrier of 80 on the interbank market on Tuesday, dealers said. On the interbank market, the rupee fell sharply, losing 50
Published 21 Jan, 2009 12:00am
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