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Print - 2009-03-03
Sharifs urged to accept Supreme Court verdict with open mind

Sharifs urged to accept Supreme Court verdict with open mind

People's Labour Bureau District President, Akhlaq Ahmed Khan Dasti has urged PML-N leaders Mian Nawaz Sharif and Mian Shahbaz Sharif to accept Supreme Court verdict with an open mind. Talking to mediapersons on Monday, he said that the Apex Court of the c
Published 03 Mar, 2009 12:00am
BRIndex30 loses 51.76 points

BRIndex30 loses 51.76 points

On Monday, the BRIndex30 opened at 5,296.83. It closed at 5,213.93 with a net negative change of -51.76 points, or -0.98 percent. It experienced intra-day high of 5,305.56 and low of 5,191.44 points, respectively. Volume was 57,639,200 shares, which was 6
Published 03 Mar, 2009 12:00am
104,500 cusecs water released

104,500 cusecs water released

Indus River System Authority (Irsa) on Monday released 104,500 cusecs water from various rim stations. According to Irsa, an overall water inflow from various reservoirs recorded was 56,229 cusecs. Water level at Tarbela Dam recorded was at 1,403.53 feet.
Published 03 Mar, 2009 12:00am
Indonesia's Antam sees nickel output down

Indonesia's Antam sees nickel output down

Indonesian state-owned miner, PT Aneka Tambang Tbk, plans to produce 12,000 tonnes of ferronickel in 2009, down about 32 percent from a year ago in anticipation of slowing demand, the company said in a statement. Antam produced 17,566 tonnes of ferronicke
Published 03 Mar, 2009 12:00am
Pakistan assistance bill likely to include one-time $5 billion

Pakistan assistance bill likely to include one-time $5 billion

US lawmakers will soon introduce a measure on expanding socio-economic assistance for Pakistan to $1.5 billion annually that is likely to include an additional one-time $5 billion in support of the democratic government's efforts to pull the key South Asi
Published 03 Mar, 2009 12:00am
BRIndex30 loses 51.76 points

BRIndex30 loses 51.76 points

On Monday, the BRIndex30 opened at 5,296.83. It closed at 5,213.93 with a net negative change of -51.76 points, or -0.98 percent. It experienced intra-day high of 5,305.56 and low of 5,191.44 points, respectively. Volume was 57,639,200 shares, which was 6
Published 03 Mar, 2009 12:00am
PML-N leaders urged to avoid irresponsible statements

PML-N leaders urged to avoid irresponsible statements

Sindh Minister for Works and Services, Manzoor Hussain Wassan has urged the leaders of the Pakistan Muslim League (Nawaz) to avoid issuing irresponsible statements in the best interest of the country and the people. In an interview to APP here on Monday t
Published 03 Mar, 2009 12:00am
Nominal business witnessed on cotton market

Nominal business witnessed on cotton market

No change was seen in the existing dullness on the cotton market on Monday as mills and spinners failed to strike any deal in the absence of motivating factors, dealers said. The official spot rate was unchanged at Rs 3250, they said. The phutti prices in
Published 03 Mar, 2009 12:00am
Pir Mazhar defends governor's rule in Punjab

Pir Mazhar defends governor's rule in Punjab

Sindh Senior Minister Pir Mazharul Huq has said that since the coalition government in the Punjab has broken down, the Governor's Rule there will be withdrawn when any party would show its majority in the assembly. Talking to APP here Monday, Pir Mazhar s
Published 03 Mar, 2009 12:00am
KSE witnesses mixed trend

KSE witnesses mixed trend

Mixed trend was witnessed at Karachi share market on Monday due to the prevailing uncertainty on the political front in the country. After moving both sides the index finally closed in the negative zone at 5,681.29 points level, down by 46.17 points. The
Published 03 Mar, 2009 12:00am
Global credit crunch to pressure Pakistan's economy

Global credit crunch to pressure Pakistan's economy

A seminar on 'Challenges and Opportunities for Pakistan in Global Financial Crisis' was organised by Karachi Branch Council (KBC) of the Institute of Cost and Management Accountants of Pakistan (ICMAP) in collaboration with Hyderabad Chamber of Commerce a
Published 03 Mar, 2009 12:00am
Withdrawal of governor's rule demanded

Withdrawal of governor's rule demanded

Nawabzada Iftikhar Ahmed Khan, a PML-N leader, has called for withdrawal of governor's rule in Punjab, saying it is against the spirit of democracy, the system for which PPP rendered precious sacrifices. Talking to newsmen here on Monday, Nawabzada Iftikh
Published 03 Mar, 2009 12:00am
KSE witnesses mixed trend

KSE witnesses mixed trend

Mixed trend was witnessed at Karachi share market on Monday due to the prevailing uncertainty on the political front in the country. After moving both sides the index finally closed in the negative zone at 5,681.29 points level, down by 46.17 points. The
Published 03 Mar, 2009 12:00am
ECP calls for ensuring adults' registration in voter list

ECP calls for ensuring adults' registration in voter list

Political parties of the country as well as its citizens have been urged to get bona fide Pakistanis, 18 years or above, registered with Pakistan Election Commission (ECP). Syed Nadeem Haider, Assistant EC, Karachi, at a session "Women Representation in P
Published 03 Mar, 2009 12:00am
Sugar, gur, til and Irri 6 higher on grain, seed market

Sugar, gur, til and Irri 6 higher on grain, seed market

Bullish trend persisted on the grain, seed wholesale market on Monday as the retailers indulged in the forward buying, dealers said. On the cereal sector sugar was higher by Rs 50 to Rs 3950 and gur good type was up by Rs 100 to Rs 4000 while the low type
Published 03 Mar, 2009 12:00am
PPP takes out rally against vandalism

PPP takes out rally against vandalism

The PPP took out a protest rally in Jacobabad, on Monday, against destruction of the portrait of Shaheed Benazir Bhutto and alleged vandalism at the site of BB's assassination (martyrdom) in Rawalpindi. The rally, under the leadership of PPP's District Ge
Published 03 Mar, 2009 12:00am
KSE witnesses mixed trend

KSE witnesses mixed trend

Mixed trend was witnessed at Karachi share market on Monday due to the prevailing uncertainty on the political front in the country. After moving both sides the index finally closed in the negative zone at 5,681.29 points level, down by 46.17 points. The
Published 03 Mar, 2009 12:00am
Partly Facetious: there's No Bhuttohood in Zardari

Partly Facetious: there's No Bhuttohood in Zardari

"Mian Sahib is trying to distance Zardari from his Bhuttohood. Not fair." "Don't be facetious. There is no Bhuttohood in Zardari. He may be their political heir but that is about all." "He was married to Ms Bhutto for over 20 to 21 years. If you are tryin
Published 03 Mar, 2009 12:00am
Tokyo rubber softer

Tokyo rubber softer

Tokyo rubber futures tumbled on Monday, pressured by weak stock prices and demand worries, but prices managed to stay above 130 yen and trade within recent ranges. Rubber on the Tokyo Commodity Exchange has mostly traded in a tight band on both sides of 1
Published 03 Mar, 2009 12:00am
Irrelevant

Irrelevant

Through your esteemed daily I draw the attention of the concerned authorities towards an issue that those successful allottees of plots measuring 80 square yards in MDA's Taiser Town Scheme- 45, Karachi, who have made full and final payments of instalment
Published 03 Mar, 2009 12:00am
Road accidents

Road accidents

On February 25 morning a 19-year-old student Muhammad Sohail of a textile institute was run over by a speedy water tanker on the main road, Korangi Industrial Area near Singer Chowrangi. Such road accidents in Korangi Industrial Area become frequent and t
Published 03 Mar, 2009 12:00am
Shanghai copper falls

Shanghai copper falls

Copper fell on Monday as more data showed a deepening global recession, but prices in Shanghai looked supported by hopes the Chinese government would keep buying metals to help local smelters ride out slumping demand. The US economy contracted in the four
Published 03 Mar, 2009 12:00am
Future of Pakistan cricket

Future of Pakistan cricket

Pakistan has been the victim of the downfall in sports and particularly cricket, which still has got some hopes for its betterment People were biased against Dr Naseem Ashraf's administration because he banned the Pakistani superstars like Abdul Razzaq, R
Published 03 Mar, 2009 12:00am
Suez Canal revenue decreasing

Suez Canal revenue decreasing

Since the beginning of 2009, the blare of ships' horns passing through the Suez Canal has become less frequent, so it came as no surprise when latest figures showed a drop in canal revenues. The canal, completed by French engineers in 1869, means ships av
Published 03 Mar, 2009 12:00am
Gold up in Asia

Gold up in Asia

Gold rose 1 percent to around $950 per ounce on Monday, as stock market falls on financial sector woes and persistent views that the global economy would stay gloomy polished up the yellow metal's lure as a safe-haven asset. A US jobs report due later thi
Published 03 Mar, 2009 12:00am
Karzai under fire for changing Afghan election date

Karzai under fire for changing Afghan election date

Afghan President Hamid Karzai's announcement that presidential elections will be brought forward by four months to April has drawn fire from opposition groups inside the country, and caused concern from the US government. In a presidential decree, Karzai
Published 03 Mar, 2009 12:00am
Political impasse: issues and solutions

Political impasse: issues and solutions

In the wake of the humiliating defeat of King's Party - Pakistan Muslim League (Q) - on 18 February 2008 - despite all State support extended - there transpired a great hope and chance that the mandate given by the people of Pakistan would pave the way fo
Published 03 Mar, 2009 12:00am
Asian fuel oil prices lower

Asian fuel oil prices lower

Asia fuel oil prices fell on Monday, in tandem with lower crude, and the inter-month contango widened slightly in thin trade, as demand remained sluggish amidst a deteriorating outlook for the global economy. Regional bunker demand has slowed as shipping
Published 03 Mar, 2009 12:00am
Banks' reluctance to fund power sector

Banks' reluctance to fund power sector

Banks and development financial institutions are hesitant to fund rental power projects of Pakistan Electric Power Company (PEPCO), says a news report in this paper. National Bank of Pakistan has been entrusted the task to arrange a syndication loan of ov
Published 03 Mar, 2009 12:00am
Ban on current CFS Mk-II proposed

Ban on current CFS Mk-II proposed

The Continuous Funding System (CFS) committee has proposed to ban the existing CFS Mk-II and Deliverable Futures in the country's stock exchanges with immediate effect. The committee has proposed to introduce Cash Settlement Futures (CSF) and other invest
Published 03 Mar, 2009 12:00am
Livestock and dairy sector needs attention

Livestock and dairy sector needs attention

Economic pundits are agreed that livestock and dairy sectors have remained immune from the impact of the global recession. Consumption of food items is, after all, the very last item in a household budget that is likely to be negatively affected due to a
Published 03 Mar, 2009 12:00am
Oil falls below $44

Oil falls below $44

US oil fell below $44 a barrel on Monday, extending the previous session's 1 percent decline, on worries the ailing US economy would further dent global growth and damage energy consumption. Comments from Iran, the second-biggest producer in the Organisat
Published 03 Mar, 2009 12:00am
Mobile courts

Mobile courts

How much the PPP-led federal government feels threatened by the looming lawyers' long march, the botched-up promulgation of a presidential ordinance to set up mobile courts on Sunday tells it all? The ordinance envisages setting up junior courts all over
Published 03 Mar, 2009 12:00am
Ban on current CFS Mk-II proposed

Ban on current CFS Mk-II proposed

The Continuous Funding System (CFS) committee has proposed to ban the existing CFS Mk-II and Deliverable Futures in the country's stock exchanges with immediate effect. The committee has proposed to introduce Cash Settlement Futures (CSF) and other invest
Published 03 Mar, 2009 12:00am
Passco will set up 250 centres to procure wheat

Passco will set up 250 centres to procure wheat

Pakistan Agricultural Storage and Services Corporation (Passco) will set up 250 centres for the procurement of 1.5 million tons of wheat in the areas allotted to it in Punjab and Sindh provinces during the procurement season 2009. Sources in the corporati
Published 03 Mar, 2009 12:00am
Indonesia sees 2009 rice output up

Indonesia sees 2009 rice output up

Indonesia's statistics bureau said on Monday that 2009 unmilled rice output was set to rise 1.13 percent to 60.93 million tonnes in a year when the country is targeting the first rice exports for 16 years. The statistics agency said it expected rice outpu
Published 03 Mar, 2009 12:00am
Indus Motor launches third Toyota technical education programme

Indus Motor launches third Toyota technical education programme

Indus Motor Company Limited selected the Construction Technology Training Institute (CTTI), Islamabad to launch its 3rd Toyota Technical Education Programme (T-TEP) to cater to the needs of the northern region of the country. The inauguration ceremony was
Published 03 Mar, 2009 12:00am
Ban on current CFS Mk-II proposed

Ban on current CFS Mk-II proposed

The Continuous Funding System (CFS) committee has proposed to ban the existing CFS Mk-II and Deliverable Futures in the country's stock exchanges with immediate effect. The committee has proposed to introduce Cash Settlement Futures (CSF) and other invest
Published 03 Mar, 2009 12:00am
DIB announces financial results

DIB announces financial results

Dubai Islamic Bank (DIB) announced its financial results for the 12 months ending December 31, 2008, demonstrating continued strong growth in its core operations despite extremely challenging global financial conditions. DIB reported AED 1.73 billion in n
Published 03 Mar, 2009 12:00am
Four Indian mills buy 100,000 tonnes raw sugar

Four Indian mills buy 100,000 tonnes raw sugar

Four sugar mills in northern India have contracted imports of 100,000 tonnes of raws and a top producer in the region is negotiating a deal to buy 50,000 tonnes from Brazil, trade and industry sources said. Duty-free imports of raws for refining and local
Published 03 Mar, 2009 12:00am
DIB announces financial results

DIB announces financial results

Dubai Islamic Bank (DIB) announced its financial results for the 12 months ending December 31, 2008, demonstrating continued strong growth in its core operations despite extremely challenging global financial conditions. DIB reported AED 1.73 billion in n
Published 03 Mar, 2009 12:00am
Scientists snare 3-D image of oldest fossil brain

Scientists snare 3-D image of oldest fossil brain

Scientists on Monday revealed the 300-million-year-old brain of an extinct relative of today's sharks, the first time that soft tissue from such an ancient fossil has ever been seen. French and US scientists obtained three-dimensional pictures of the mine
Published 03 Mar, 2009 12:00am
Seafood processing plants asked to follow EU specifications

Seafood processing plants asked to follow EU specifications

Karachi Fish Harbour Authority (KFHA) has issued notices to all seafood processing plants to build septic tanks, a primary step towards implementation of European Union (EU) specifications to contain the polluted water and solid waste from further spillin
Published 03 Mar, 2009 12:00am
Corn up on ethanol hopes, Argentina may sell more soy

Corn up on ethanol hopes, Argentina may sell more soy

US corn futures rose on Monday, recovering from last week's slide, on hopes that more corn will be converted into ethanol. But soybeans dropped on the possibility of Argentine farmers selling their stocks after sources said the government was considering
Published 03 Mar, 2009 12:00am
IGI Insurance and Pamada ink deal

IGI Insurance and Pamada ink deal

IGI Insurance Limited, a part of the IGI Financial Services Group signed an agreement with Pakistan Automobile Manufacturers Authorised Dealers Association (Pamada) with respect to its comprehensive automobile insurance "IGI Auto Cover." The agreement wil
Published 03 Mar, 2009 12:00am
Russia and Spain to sign energy agreement: Spanish Prime Minister

Russia and Spain to sign energy agreement: Spanish Prime Minister

Russia and Spain will sign a broad energy co-operation agreement, Spanish Prime Minister Jose Luis Rodriguez Zapatero said Monday on the first day of a visit by Russia's president. "We will tomorrow sign a broad energy co-operation agreement in the areas
Published 03 Mar, 2009 12:00am
Women urged to open accounts with FWB

Women urged to open accounts with FWB

President, First Women Bank Ltd, Zarine Aziz has urged working women to open their accounts in First Women Bank (FWB) and enjoy benefits of lucrative banking products. Speaking at 2nd meeting of Banking and Insurance Sub Committee Karachi Chamber of Comme
Published 03 Mar, 2009 12:00am
Malaysian tin falls

Malaysian tin falls

Malaysian tin fell 0.6 percent on Monday, weighed by weaker London Metal Exchange prices and soft demand, one dealer said.
Published 03 Mar, 2009 12:00am
'Security concerns overshadowed economic policy implementation'

'Security concerns overshadowed economic policy implementation'

A senior economist, Dr Kaiser Bengali, has said that there has been less emphasis on implementation of economic policies during the last 30 years as security concerns dominated, with a very narrow military perspective. He urged those who matter that the s
Published 03 Mar, 2009 12:00am
Russia and Spain to sign energy agreement: Spanish Prime Minister

Russia and Spain to sign energy agreement: Spanish Prime Minister

Russia and Spain will sign a broad energy co-operation agreement, Spanish Prime Minister Jose Luis Rodriguez Zapatero said Monday on the first day of a visit by Russia's president. "We will tomorrow sign a broad energy co-operation agreement in the areas
Published 03 Mar, 2009 12:00am
RCCI and PPAF sign agreement

RCCI and PPAF sign agreement

The Rawalpindi Chambers of Commerce and Industry (RCCI) and Pakistan Poverty Alleviation Fund (PPAF) have signed an agreement aimed at harnessing the corporate-social sector linkages to fight poverty in the country. Kamal Hyat, CEO and MD PPAF and Syed As
Published 03 Mar, 2009 12:00am
Indian soyoil falls

Indian soyoil falls

Indian soyoil futures fell on Monday on weak global cues and as spot demand eased following higher supplies of rapeseed oil, a substitute. At 3:19 pm (0949 GMT), the March futures contract was down 1.02 percent at 444.4 rupees ($8.6) per 10 kg on the Nati
Published 03 Mar, 2009 12:00am
PAL chief meets Jordanin envoy

PAL chief meets Jordanin envoy

Fakhar Zaman, Chairman, Pakistan Academy of Letter (PAL) here on Monday met with the Ambassador of Jordan H E Dr Saleh Ahmad Aljawarneh. Fakhar Zaman said on this occasion that translation of literature of both the countries in each other's languages will
Published 03 Mar, 2009 12:00am
Russia and Spain to sign energy agreement: Spanish Prime Minister

Russia and Spain to sign energy agreement: Spanish Prime Minister

Russia and Spain will sign a broad energy co-operation agreement, Spanish Prime Minister Jose Luis Rodriguez Zapatero said Monday on the first day of a visit by Russia's president. "We will tomorrow sign a broad energy co-operation agreement in the areas
Published 03 Mar, 2009 12:00am
UHS announces MBBS exam schedule

UHS announces MBBS exam schedule

The University of Health Sciences (UHS) has announced the schedule of all professionals' MBBS annual examinations to be held this year for candidates of its affiliated colleges. According to the schedule announced by the UHS, first professional MBBS Part-
Published 03 Mar, 2009 12:00am
Indian sugar rises

Indian sugar rises

Indian sugar futures edged up on Monday as demand in the spot market rose ahead of peak summer season buying, while estimates of lower-than-expected output this crop year underpinned sentiment. At 4:04 pm (1034 GMT), the March contract on the National Com
Published 03 Mar, 2009 12:00am
Dr Ashfaque joins Nust

Dr Ashfaque joins Nust

The architect of Pakistan's successful international bond market standing, Special Secretary Finance, Dr Ashfaque Hassan Khan has joined the National University of Science and Technology (Nust) as Dean and Professor at the School of Business Administratio
Published 03 Mar, 2009 12:00am
Suicide bomber kills six in Pishin

Suicide bomber kills six in Pishin

Death toll from Pishin blast raised to six after another injured identified as Syed Mohammad Naeem succumbed to his injuries in a hospital in Pishin. DPO Pishin Akbar Raisani told APP that a suicide bomber blew himself up soon after a certificate distribu
Published 03 Mar, 2009 12:00am
SKMC&RC symposium concludes

SKMC&RC symposium concludes

The 8th international Shaukat Khanum Memorial Cancer & Research Centre (SKMC&RC) Symposium ended successfully here on Monday. Almost 600 delegates from USA, UK, Australia, Japan, Germany, Italy, Jordan, Sri Lanka and leading hospitals in Pakistan particip
Published 03 Mar, 2009 12:00am
Malaysian palm oil retreats

Malaysian palm oil retreats

Malaysian crude palm oil futures fell 1.3 percent on Monday, extending last week's losses as weaker export data sparked some selling late in the session. The price of the tropical oil - used in various products from soap to biodiesel - briefly broke the m
Published 03 Mar, 2009 12:00am
Atlas Honda profit falls to Rs 65.371 million

Atlas Honda profit falls to Rs 65.371 million

The profit after tax of Atlas Honda Limited has declined to Rs 65.371 million in the half year period ended December 31, 2008 as compared to Rs 215.736 million earned in the corresponding period in 2007. The board of directors declared that the company's
Published 03 Mar, 2009 12:00am
Suicide bomber kills six in Pishin

Suicide bomber kills six in Pishin

Death toll from Pishin blast raised to six after another injured identified as Syed Mohammad Naeem succumbed to his injuries in a hospital in Pishin. DPO Pishin Akbar Raisani told APP that a suicide bomber blew himself up soon after a certificate distribu
Published 03 Mar, 2009 12:00am
Atlas Honda profit falls to Rs 65.371 million

Atlas Honda profit falls to Rs 65.371 million

The profit after tax of Atlas Honda Limited has declined to Rs 65.371 million in the half year period ended December 31, 2008 as compared to Rs 215.736 million earned in the corresponding period in 2007. The board of directors declared that the company's
Published 03 Mar, 2009 12:00am
Allied Irish paints bleak picture for bad debts

Allied Irish paints bleak picture for bad debts

Allied Irish Banks doubled an estimate for loan loss provisions this year and warned that soured debt may only peak in 2011, painting a bleak picture for the UK and Irish property markets. AIB's shares and bottom line have been ravaged by its exposure to
Published 03 Mar, 2009 12:00am
Meeting held to review security, plight of IDPs

Meeting held to review security, plight of IDPs

To review and discuss the security situation in Swat and Fata as a result of which IDPs belonging to Mohmand, Bajaur agencies, Swat and other areas migrated to various districts of the province, a weekly meeting was held at Afghan Commissionerate's Office
Published 03 Mar, 2009 12:00am
AIG fallout pushes Dow under 7,000, S&P tests 700

AIG fallout pushes Dow under 7,000, S&P tests 700

US stocks slid to 12-year lows on Monday as a record $61.7 billion loss for AIG and another government bailout for the insurer heightened concerns about the extent of the damage to the financial system.
Published 03 Mar, 2009 12:00am
NWFP government sincere in enforcement of Nizam-e-Adal: minister

NWFP government sincere in enforcement of Nizam-e-Adal: minister

NWFP Minister for Information and Public Relations Mian Iftikhar Hussein has said that the provincial government is sincere in enforcement of Nizam-e-Adal Regulations in the Malakand Division including Swat. He promised that the commitment of enforcing Ni
Published 03 Mar, 2009 12:00am
Norway data stronger than forecast, March cut eyed

Norway data stronger than forecast, March cut eyed

Economic data from the first two months of 2009 released on Monday showed the Norwegian economy is holding up better than feared, easing pressure on the central bank to announce a large rate cut this month, economists said.
Published 03 Mar, 2009 12:00am
PML-N not allowed to move censure resolution

PML-N not allowed to move censure resolution

The Speaker NWFP Assembly Kiramatullah Khan on Monday disallowed the legislators of PML-N to table their censure resolution against the disqualification of Sharif brothers and imposition of Governor Rule in Punjab, largest province of Pakistan.
Published 03 Mar, 2009 12:00am
Foreign loans/credits: re-lending mark-up rates lowered

Foreign loans/credits: re-lending mark-up rates lowered

The government has finalised the revised re-lending policy, according to which re-lending interest rate would be fixed at 12 percent against 17 percent per annum, official sources told Business Recorder. The Economic Affairs Division (EAD) had subm
Published 03 Mar, 2009 12:00am
Setting up of summary courts condemned

Setting up of summary courts condemned

Local Lawyers and politicians of Mulatn on Monday condemned the promulgation of an ordinance setting up mobile courts termed it a government's tool to penalise political opponents. The President, High Court Bar Association (HCBA), Multan, Mehmood Ashraf K
Published 03 Mar, 2009 12:00am
Reject protectionism, EU chief warns governments

Reject protectionism, EU chief warns governments

Governments must not head down the path of protectionism as they battle the deepening global economic crisis, European Commission President Jose Manuel Barroso said on Monday. "As businesses fail and job losses mount, the siren voices of economic national
Published 03 Mar, 2009 12:00am
New LHC registrar appointed

New LHC registrar appointed

Chief Justice Lahore High Court Syed Zahid Hussein has appointed District & Sessions Judge Syed Nasir Ali Shah as Registrar LHC after the elevation of former registrar Pervaiz Ali Chawala as judge. The CJ also transferred Secretary Law & Parliamentary Aff
Published 03 Mar, 2009 12:00am
Foreign loans/credits: re-lending mark-up rates lowered

Foreign loans/credits: re-lending mark-up rates lowered

The government has finalised the revised re-lending policy, according to which re-lending interest rate would be fixed at 12 percent against 17 percent per annum, official sources told Business Recorder. The Economic Affairs Division (EAD) had subm
Published 03 Mar, 2009 12:00am
Bar member sends notice to deputy registrar

Bar member sends notice to deputy registrar

A bar member Malik Tariq Aziz has sent a legal notice to deputy registrar (judicial) of the Lahore High Court for not fixing his petition before any bench challenging proclamation of "Governor Rule" in the Punjab. He said according to the rules non-fixati
Published 03 Mar, 2009 12:00am
Australia to take time over Rio-Chinalco deal

Australia to take time over Rio-Chinalco deal

The Australian government said on Monday it would take its time before deciding on China's planned $19.5 billion investment in Anglo-Australian miner Rio Tinto Ltd/Plc, helping send Rio shares sharply lower. State-owned Chinalco, China's top aluminium mak
Published 03 Mar, 2009 12:00am
Chinese, Pakistani writers meeting on March 4

Chinese, Pakistani writers meeting on March 4

The delegation of Chinese writers who are visiting Pakistan hosted by Pakistan Academy of Letters (PAL) will be meeting Pakistani Writers on March 4 in the Conference Hall of PAL at Pitras Bukhari Road, Sector H-8/1, Islamabad. The programme will be presi
Published 03 Mar, 2009 12:00am
Foreign loans/credits: re-lending mark-up rates lowered

Foreign loans/credits: re-lending mark-up rates lowered

The government has finalised the revised re-lending policy, according to which re-lending interest rate would be fixed at 12 percent against 17 percent per annum, official sources told Business Recorder. The Economic Affairs Division (EAD) had subm
Published 03 Mar, 2009 12:00am
Performance of PTB: Senate body approves Recommendations

Performance of PTB: Senate body approves Recommendations

The Senate Standing Committee on Food, Agriculture and Livestock, which met at the Parliament House Monday unanimously finalised and approved the recommendations prepared by the Sub-Committee constituted earlier for reviewing and examining issues like the
Published 03 Mar, 2009 12:00am
HSBC seeks $18 billion after profits crash

HSBC seeks $18 billion after profits crash

Asian and European banking titan HSBC revealed on Monday that it needs nearly 18 billion dollars of new capital to withstand the financial crisis and announced 6,100 US job cuts after a profits collapse. The bank reported a 70-percent plunge in annual net
Published 03 Mar, 2009 12:00am
'Economics students are future leaders of business, industry'

'Economics students are future leaders of business, industry'

Governor Punjab Salmaan Taseer said on Monday that students of economics are the future leaders of business and industry of the country. Speaking as a chief guest at the 7th convocation of Lahore School of Economics, he said that for the success in the fu
Published 03 Mar, 2009 12:00am
Six-month consolidated budget deficit rises to Rs 250.5 billion

Six-month consolidated budget deficit rises to Rs 250.5 billion

The consolidated budget deficit of the federal and four provincial governments has accumulated to Rs 250.5 billion during first half (July-December) of 2008-09 fiscal year. According to a Fiscal Operations Report of Finance Ministry issued here on Monday?
Published 03 Mar, 2009 12:00am
Road linkages to boost Pakistan, Kazakhstan economies: minister

Road linkages to boost Pakistan, Kazakhstan economies: minister

Federal Minister for Communication, Dr Arbab Alamgir Khan, has said that establishing road linkages between Pakistan and Kazakhstan would immensely benefit the economy of both the countries. He said this in his meeting with the Ambassador of Kazakhstan H
Published 03 Mar, 2009 12:00am
HSBC seeks $18 billion after profits crash

HSBC seeks $18 billion after profits crash

Asian and European banking titan HSBC revealed on Monday that it needs nearly 18 billion dollars of new capital to withstand the financial crisis and announced 6,100 US job cuts after a profits collapse. The bank reported a 70-percent plunge in annual net
Published 03 Mar, 2009 12:00am
The Weather

The Weather

The weather report on Monday (March 02, 2009) and the forecast for Tuesday (March 03, 2009.

Published 03 Mar, 2009 12:00am
WPP challenges governor's rule

WPP challenges governor's rule

Watan Party Pakistan (WPP) through a constitutional petition has challenged the proclamation of "Governor Rule" before the Supreme Court of Pakistan. The petition filed through counsel Barrister Zafarullah Khan prayed to the court to declare the impositio
Published 03 Mar, 2009 12:00am
Six-month consolidated budget deficit rises to Rs 250.5 billion

Six-month consolidated budget deficit rises to Rs 250.5 billion

The consolidated budget deficit of the federal and four provincial governments has accumulated to Rs 250.5 billion during first half (July-December) of 2008-09 fiscal year. According to a Fiscal Operations Report of Finance Ministry issued here on Monday?
Published 03 Mar, 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 03 Mar, 2009 12:00am
Habibullah Shakir's appointment as LHC judge hailed

Habibullah Shakir's appointment as LHC judge hailed

A member of the provincial executive committee of the PPP, Ameer Nawaz Comrade said on Monday that violence and agitation by PML-N is completely against the spirit of democracy as these tactics would only strengthen non-democratic forces and weaken democr
Published 03 Mar, 2009 12:00am
German high-tech sector holds up: trade group

German high-tech sector holds up: trade group

Germany's high-tech industry expects to buck the economic crisis this year with sales stagnating but not sinking, its chief lobby group said on Monday on the eve of the giant CeBIT trade fair. Turnover in information technology, telecommunications and dig
Published 03 Mar, 2009 12:00am
Strategy evolved to enhance Pak-Indonesia trade

Strategy evolved to enhance Pak-Indonesia trade

Business leaders of Pakistan and Indonesia on Monday agreed to evolve a strategy to enhance bilateral trade and to bridge the trade gap between the two countries.
Published 03 Mar, 2009 12:00am
Six-month consolidated budget deficit rises to Rs 250.5 billion

Six-month consolidated budget deficit rises to Rs 250.5 billion

The consolidated budget deficit of the federal and four provincial governments has accumulated to Rs 250.5 billion during first half (July-December) of 2008-09 fiscal year. According to a Fiscal Operations Report of Finance Ministry issued here on Monday?
Published 03 Mar, 2009 12:00am
Urs of Shah Bokhari

Urs of Shah Bokhari

The three-day annual Urs of Hazrat Muhammad Ismail Shah Bokhari will be held from March 6 to 8 at Hazrat Karmanwala in district Okara. The Urs celebrations will conclude with 'Dua' on March 8 at 1.30 pm. A large number of devotees of the saint from all ov
Published 03 Mar, 2009 12:00am
UK rates may rise before upturn, says former: BoE deputy

UK rates may rise before upturn, says former: BoE deputy

Official UK interest rates will need to rise before any economic recovery is felt on the ground to stave off the risks of an inflationary surge, former Bank of England Deputy Governor John Gieve said. "We've got to hold on to the fact that inflation will
Published 03 Mar, 2009 12:00am
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