Print - 2009-02-12
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 12 Feb, 2009 12:00am
Illegally cut timber: Committee discusses issue of disposal in detail

Illegally cut timber: Committee discusses issue of disposal in detail

A meeting of the Cabinet Committee, formed for the disposal of left over illegally cut timber in Kohistan District, was held at the Civil Secretariat Peshawar on Wednesday in the chair of NWFP Senior Ministers Rahimdad Khan and Bashir Ahmad Bilour.
Published 12 Feb, 2009 12:00am
Food scarcity: Fehmida calls for planting more fruit trees

Food scarcity: Fehmida calls for planting more fruit trees

There is a dire need to plant more and more fruit trees to overcome the food scarcity in the country, said Dr Fahmida Mirza, Speaker National Assembly while briefing media persons, after inaugurating the Spring Tree Planting Campaign 2009 here Wednesday.
Published 12 Feb, 2009 12:00am
Fehmida, Kundi condemn Moman blast

Fehmida, Kundi condemn Moman blast

The Speaker, National Assembly, Dr Fehmida Mirza and Deputy Speaker, Faisal Karim Kundi have strongly condemned the bomb blast in Moman Town in Peshawar. In a message, the Speaker and Deputy Speaker termed the attack as barbaric act of terrorism that refl
Published 12 Feb, 2009 12:00am
Free media imperative to foster democracy: Sherry

Free media imperative to foster democracy: Sherry

Minister for Information and Broadcasting, Sherry Rehman on Wednesday vowed to uphold freedom of the press, saying free media can help promote democracy and democratic institutions in the country. Sherry said the government has provided all possible assis
Published 12 Feb, 2009 12:00am
Government to change Thana culture, says Gilani

Government to change Thana culture, says Gilani

Prime Minister Syed Yusuf Raza Gilani has said that government is considering legislation to change the Thana Culture and introduce measures to provide affordable and speedy justice to the people at their doorsteps. He was talking to a delegation of notab
Published 12 Feb, 2009 12:00am
President and Prime Minister condemn killing of Alamzeb Khan

President and Prime Minister condemn killing of Alamzeb Khan

President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani on Wednesday strongly condemned the blast in Peshawar in which ANP leader Alamzeb Khan was killed. The President and the Prime Minister in their separate messages expressed their deep s
Published 12 Feb, 2009 12:00am
Government to crush militants with full force: Mukhtar

Government to crush militants with full force: Mukhtar

Defence Minister Chaudhry Ahmed Mukhtar said on Wednesday that the government is left with no option except to crush the militants with force in the tribal areas and restive Swat valley. Speaking to reporters here, the minister vowed to intensify the use
Published 12 Feb, 2009 12:00am
Punjab Assembly consensus on agriculture to boost sector

Punjab Assembly consensus on agriculture to boost sector

In the pre-budget debate in the 11th session of the Punjab Assembly here Wednesday there was a consensus that agriculture was the back bone of the economy and steps to improve it must be taken. The legislators gave special emphasis on the development of h
Published 12 Feb, 2009 12:00am
Senate polls: PML-N starts contacts with political parties

Senate polls: PML-N starts contacts with political parties

In a bid to secure maximum number of seats in the Senate elections scheduled for March 4, the Pakistan Muslim League-Nawaz PML-N has started contacting different political parties having representation in the Parliament. Sources in the PML-N told Busin
Published 12 Feb, 2009 12:00am
MQM names three candidates for Senate election

MQM names three candidates for Senate election

Muttahida Qaumi Movement (MQM), Rabita Committee on Wednesday announced the names of three candidates to contest the forthcoming election of Senate of Pakistan to be held on March 4. According to a statement issued by MQM here, Baber Ghauri, Haseeb Khan a
Published 12 Feb, 2009 12:00am
New Zealander held in Pakistan near Afghan border

New Zealander held in Pakistan near Afghan border

Pakistani security forces detained a New Zealander on Wednesday who was trying to enter the South Waziristan region, an al Qaeda and Taliban militant stronghold on the Afghan border, officials said. The man, identified as a 35-year-old New Zealander with
Published 12 Feb, 2009 12:00am
IDB may give $30 million for Bhasha dam

IDB may give $30 million for Bhasha dam

Islamic Development Bank (IDB) has indicated that it may consider a $30 million loan for Bhasha dam in 2011, sources in Planning Commission told Business Recorder. They said that IDB has agreed to provide financing for Diamer Bhasha dam and will ho
Published 12 Feb, 2009 12:00am
IDB may give $30 million for Bhasha dam

IDB may give $30 million for Bhasha dam

Islamic Development Bank (IDB) has indicated that it may consider a $30 million loan for Bhasha dam in 2011, sources in Planning Commission told Business Recorder. They said that IDB has agreed to provide financing for Diamer Bhasha dam and will ho
Published 12 Feb, 2009 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
Terrorist attacks: billions of dollars lost by ATT suspension: minister

Terrorist attacks: billions of dollars lost by ATT suspension: minister

The Federal Minister for Communication, Dr Alamgir Khan, has said that Pakistan has incurred a loss of billions of dollars due to suspension of Afghan Transit Trade due to terrorist activities, while thousands of Pakistanis have been rendered jobless. How
Published 12 Feb, 2009 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
AKD Trade termed pioneer of OST in Pakistan

AKD Trade termed pioneer of OST in Pakistan

Haris Aslam GM AKD Trade said that AKD Trade is the pioneer of Online Stock Trading (OST) in Pakistan and has served investors all across Pakistan and abroad as a gateway to Karachi Stock Exchange (KSE) by its Online Trading Facility, according to a press
Published 12 Feb, 2009 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
Altaf condemns ANP leader's death in blast

Altaf condemns ANP leader's death in blast

Muttahida Qaumi Movement (MQM) Chief Altaf Hussain on Wednesday strongly condemned the death of Aalam Zaib Khan, a leader of Awami National Party (ANP) and a member of NWFP Assembly, in a blast in Peshawar. In a statement issued here by MQM, Altaf Hussain
Published 12 Feb, 2009 12:00am
NJLI Sarmaya Growth Fund Rates

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
Urs of Shah Latif: traditional folklore 'Sughran Je Katchehri' held

Urs of Shah Latif: traditional folklore 'Sughran Je Katchehri' held

On the first day of the 265th annual Urs celebration of the great saint poet Hazrat Shah Abdul Latif Bhitai (R.A), a traditional folklore "Sughran Je Katchahri" held at Excellence Center at Bhitshah evening. The Sughars from all over Sindh participated in
Published 12 Feb, 2009 12:00am
NJLI Sarmaya Growth Fund Rates

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
25 top companies' selection criteria revised

25 top companies' selection criteria revised

The Board of Directors (BoD) of the Karachi Stock Exchange (KSE) has revised the criteria for selection of top-25 companies for the year 2009. However, for the selection of top companies for the year 2008, the existing criteria as applicable for the year
Published 12 Feb, 2009 12:00am
NJLI Sarmaya Growth Fund Rates

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
CDGH working on 103 projects

CDGH working on 103 projects

The Sindh Chief Secretary (CS), Fazul Rehman has assured the Nazim, City District Government Hyderabad (CDGH), Kanwar Naveed Jamil that funds will be released soon to complete the on-going development schemes in Hyderabad.
Published 12 Feb, 2009 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
Most of industries in Site stopped working due to low gas pressure

Most of industries in Site stopped working due to low gas pressure

Most industries in the Sindh Industrial Trading Estate (Site), Karachi, largest industrial area in Pakistan, have come to a grinding halt due to low pressure of gas. Engr M.A.Jabbar, Chairman, Site Association of Industry (SAI) has expressed grave concern
Published 12 Feb, 2009 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
ANP concerned over flour price disparity in Sindh and Punjab

ANP concerned over flour price disparity in Sindh and Punjab

Awami National Party (ANP) in Sindh Assembly on Wednesday asked its coalition partners Pakistan People's Party (PPP) for an explanation on a big disparity in the prices of essential food items, like flour, in the provinces.
Published 12 Feb, 2009 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
Mini Ikebana exposition on February 17

Mini Ikebana exposition on February 17

Ikenobo study group of Karachi plans to hold the first ever "Mini Ikebana" exhibition in Pakistan, at the auditorium of Japan Cultural Centre, here on February 17. Organisers here on Wednesday said the programme was being organised in collaboration with J
Published 12 Feb, 2009 12:00am
NJLI Managed Growth Fund Rates

NJLI Managed Growth Fund Rates

New Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
Chapal celebrates 40th anniversary

Chapal celebrates 40th anniversary

Chapal, a leading property developer in Dubai and Northern Emirates, celebrated its 40th anniversary and presented the first ever 'Chapal Business Awards' to the investors, contractors and media at a gala dinner event held recently (February 9) in Grand H
Published 12 Feb, 2009 12:00am
NJLI Managed Growth Fund Rates

NJLI Managed Growth Fund Rates

New Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
KESC raises power tariff

KESC raises power tariff

Karachi Electric Supply Company (KESC) has increased power tariff for domestic and industrial consumers, a private TV channel reported on Wednesday. According to the channel, KESC has raised electricity rates for domestic users from 40 to 80 paias per uni
Published 12 Feb, 2009 12:00am
NJLI Managed Growth Fund Rates

NJLI Managed Growth Fund Rates

New Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
KESC raises power tariff

KESC raises power tariff

Karachi Electric Supply Company (KESC) has increased power tariff for domestic and industrial consumers, a private TV channel reported on Wednesday. According to the channel, KESC has raised electricity rates for domestic users from 40 to 80 paias per uni
Published 12 Feb, 2009 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
KESC raises power tariff

KESC raises power tariff

Karachi Electric Supply Company (KESC) has increased power tariff for domestic and industrial consumers, a private TV channel reported on Wednesday. According to the channel, KESC has raised electricity rates for domestic users from 40 to 80 paias per uni
Published 12 Feb, 2009 12:00am
Case registered against Kasab, 13 others

Case registered against Kasab, 13 others

A case has been registered against Ajmal Amir Kasab, the lone surviving gunman and 13 others in connection with the Mumbai attacks, Aaj TV reported on Wednesday. The case was registered on the basis of the probe conducted by the Federal Investigati
Published 12 Feb, 2009 12:00am
Case registered against Kasab, 13 others

Case registered against Kasab, 13 others

A case has been registered against Ajmal Amir Kasab, the lone surviving gunman and 13 others in connection with the Mumbai attacks, Aaj TV reported on Wednesday. The case was registered on the basis of the probe conducted by the Federal Investigati
Published 12 Feb, 2009 12:00am
Intervention hurts rice exports

Intervention hurts rice exports

Pakistan could export up to 4.0 million tonnes of rice in the 2008/09 financial year but government intervention is making rice more expensive and that is hurting overseas sales, exporters said on Wednesday. Rice exports from Pakistan, the world''s fifth-
Published 12 Feb, 2009 12:00am
Intervention hurts rice exports

Intervention hurts rice exports

Pakistan could export up to 4.0 million tonnes of rice in the 2008/09 financial year but government intervention is making rice more expensive and that is hurting overseas sales, exporters said on Wednesday. Rice exports from Pakistan, the world's fifth-l
Published 12 Feb, 2009 12:00am
Intervention hurts rice exports

Intervention hurts rice exports

Pakistan could export up to 4.0 million tonnes of rice in the 2008/09 financial year but government intervention is making rice more expensive and that is hurting overseas sales, exporters said on Wednesday. Rice exports from Pakistan, the world's fifth-l
Published 12 Feb, 2009 12:00am
Remittances maintain rising trend

Remittances maintain rising trend

Remittances sent home by overseas Pakistanis continued to show a rising trend as an amount of 4.27731 billion dollar was received in the first seven months (July-January) of the current fiscal year 2008-09, an increase of 653.91 million dollar or 18.05 pe
Published 12 Feb, 2009 12:00am
Remittances maintain rising trend

Remittances maintain rising trend

Remittances sent home by overseas Pakistanis continued to show a rising trend as an amount of 4.27731 billion dollar was received in the first seven months (July-January) of the current fiscal year 2008-09, an increase of 653.91 million dollar or 18.05 pe
Published 12 Feb, 2009 12:00am
Remittances maintain rising trend

Remittances maintain rising trend

Remittances sent home by overseas Pakistanis continued to show a rising trend as an amount of 4.27731 billion dollar was received in the first seven months (July-January) of the current fiscal year 2008-09, an increase of 653.91 million dollar or 18.05 pe
Published 12 Feb, 2009 12:00am
SBP clarifies cash margin condition on sugar financing

SBP clarifies cash margin condition on sugar financing

The State Bank of Pakistan on Wednesday clarified that 50 percent cash margin condition on the financing against the sugar stock would not be applicable to financing facilities given for cane procurement for the ongoing crushing season. As a step to curb
Published 12 Feb, 2009 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
SBP clarifies cash margin condition on sugar financing

SBP clarifies cash margin condition on sugar financing

The State Bank of Pakistan on Wednesday clarified that 50 percent cash margin condition on the financing against the sugar stock would not be applicable to financing facilities given for cane procurement for the ongoing crushing season. As a step to curb
Published 12 Feb, 2009 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (February 11, 2009).
Published 12 Feb, 2009 12:00am
SBP clarifies cash margin condition on sugar financing

SBP clarifies cash margin condition on sugar financing

The State Bank of Pakistan on Wednesday clarified that 50 percent cash margin condition on the financing against the sugar stock would not be applicable to financing facilities given for cane procurement for the ongoing crushing season. As a step to curb
Published 12 Feb, 2009 12:00am
Finance Secretary's transfer cancelled

Finance Secretary's transfer cancelled

The Establishment Division has stopped notification of transfer of Federal Secretary Finance Ahmed Waqar because it has been controversial for not consulting Advisor to Prime Minister on Finance Shaukat Tarin. Aaj TV reported that Establishment Div
Published 12 Feb, 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 Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
Finance Secretary's transfer cancelled

Finance Secretary's transfer cancelled

The Establishment Division has stopped notification of transfer of Federal Secretary Finance Ahmed Waqar because it has been controversial for not consulting Advisor to Prime Minister on Finance Shaukat Tarin. Aaj TV reported that Establishment Div
Published 12 Feb, 2009 12:00am
Pakistan should renegotiate interest rates with IMF: Salman

Pakistan should renegotiate interest rates with IMF: Salman

Pakistan may request International Monetary Fund to review some of the fiscal targets due to slippages in tax revenues and current expenditures and slowing down economic activity, official sources said. The Ministry of Finance is preparing detailed fiscal
Published 12 Feb, 2009 12:00am
Pakistan should renegotiate interest rates with IMF: Salman

Pakistan should renegotiate interest rates with IMF: Salman

Pakistan may request International Monetary Fund to review some of the fiscal targets due to slippages in tax revenues and current expenditures and slowing down economic activity, official sources said. The Ministry of Finance is preparing detailed fiscal
Published 12 Feb, 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 Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
Pakistan should renegotiate interest rates with IMF: Salman

Pakistan should renegotiate interest rates with IMF: Salman

Pakistan may request International Monetary Fund to review some of the fiscal targets due to slippages in tax revenues and current expenditures and slowing down economic activity, official sources said. The Ministry of Finance is preparing detailed fiscal
Published 12 Feb, 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 Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
Police target two former prime ministers in Norwegian fraud probe

Police target two former prime ministers in Norwegian fraud probe

Norwegian police said Wednesday they are investigating two ex-prime ministers on suspicion of fraudulently receiving excessive pension payments. A parliamentary committee concluded in January that Gro Harlem Brundtland and Kjell Magne Bondevik, as well as
Published 12 Feb, 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 Wednesday (February 11, 2009).

Published 12 Feb, 2009 12:00am
Police target two former prime ministers in Norwegian fraud probe

Police target two former prime ministers in Norwegian fraud probe

Norwegian police said Wednesday they are investigating two ex-prime ministers on suspicion of fraudulently receiving excessive pension payments. A parliamentary committee concluded in January that Gro Harlem Brundtland and Kjell Magne Bondevik, as well as
Published 12 Feb, 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 12 Feb, 2009 12:00am
Zimbabwe's Tsvangirai takes office as Prime Minister

Zimbabwe's Tsvangirai takes office as Prime Minister

Zimbabwe's opposition leader Morgan Tsvangirai was sworn in as prime minister on Wednesday by old enemy President Robert Mugabe and vowed to salvage the ruined economy. Their power-sharing deal has raised hopes among Zimbabweans of an end to widespread ha
Published 12 Feb, 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 12 Feb, 2009 12:00am
Zimbabwe's Tsvangirai takes office as Prime Minister

Zimbabwe's Tsvangirai takes office as Prime Minister

Zimbabwe's opposition leader Morgan Tsvangirai was sworn in as prime minister on Wednesday by old enemy President Robert Mugabe and vowed to salvage the ruined economy. Their power-sharing deal has raised hopes among Zimbabweans of an end to widespread ha
Published 12 Feb, 2009 12:00am
New York cotton

New York cotton

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

Published 12 Feb, 2009 12:00am
High level SECP committee to review CFS MK-II

High level SECP committee to review CFS MK-II

The Securities and Exchange Commission of Pakistan (SECP) has constituted a high-level committee to thoroughly review the Continuous Funding System (CFS) MK-II including risk management, eligible securities and margin requirements. The committee has been
Published 12 Feb, 2009 12:00am
New York cotton

New York cotton

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

Published 12 Feb, 2009 12:00am
High level SECP committee to review CFS MK-II

High level SECP committee to review CFS MK-II

The Securities and Exchange Commission of Pakistan (SECP) has constituted a high-level committee to thoroughly review the Continuous Funding System (CFS) MK-II including risk management, eligible securities and margin requirements. The committee has been
Published 12 Feb, 2009 12:00am