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Print - 2009-03-13
Hubco Narowal project Financial Close achieved

Hubco Narowal project Financial Close achieved

The Hub Power Company Limited (Hubco) has announced that the Financial Close of the Hubco Narowal 225 megawatts RFO fired project has now been achieved. In an information send to Karachi Stock Exchange (KSE) here on Thursday, the company said that the con
Published 13 Mar, 2009 12:00am
ADB rejoinder

ADB rejoinder

Apropos a news item "Donors worried over political instability: ADB" carried by Business Recorder on Thursday, the following is Asian Development Bank rejoinder: We take strong exception to the complete misrepresentation of ADBs statement in the sa
Published 13 Mar, 2009 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Thursday (March 12, 2009).

Published 13 Mar, 2009 12:00am
ADB rejoinder

ADB rejoinder

Apropos a news item "Donors worried over political instability: ADB" carried by Business Recorder on Thursday, the following is Asian Development Bank rejoinder: We take strong exception to the complete misrepresentation of ADBs statement in the sa
Published 13 Mar, 2009 12:00am
18 militants killed in Mohmand agency

18 militants killed in Mohmand agency

Paramilitary forces backed by jets and helicopter gunships Thursday killed 18 militants in Mohmand area, a security official said. "At least 18 militants were killed, including one important commander," a security official told AFP. He did not disclose th
Published 13 Mar, 2009 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 13 Mar, 2009 12:00am
US missile strike kills 15 in Kurram

US missile strike kills 15 in Kurram

A suspected US missile strike slammed into a Taliban camp in tribal area of Kurram on Thursday, killing 15 militants, including suspected al Qaeda fighters, security officials said. Two missiles fired by an unmanned drone struck the den in the tribal area
Published 13 Mar, 2009 12:00am
US missile strike kills 15 in Kurram

US missile strike kills 15 in Kurram

A suspected US missile strike slammed into a Taliban camp in tribal area of Kurram on Thursday, killing 15 militants, including suspected al Qaeda fighters, security officials said. Two missiles fired by an unmanned drone struck the den in the tribal area
Published 13 Mar, 2009 12:00am
18 militants killed in Mohmand agency

18 militants killed in Mohmand agency

Paramilitary forces backed by jets and helicopter gunships Thursday killed 18 militants in Mohmand area, a security official said. "At least 18 militants were killed, including one important commander," a security official told AFP. He did not disclose th
Published 13 Mar, 2009 12:00am
ADB rejoinder

ADB rejoinder

Apropos a news item "Donors worried over political instability: ADB" carried by Business Recorder on Thursday, the following is Asian Development Bank rejoinder: We take strong exception to the complete misrepresentation of ADBs statement in the sa
Published 13 Mar, 2009 12:00am
Qaim calls for concerted efforts to prevent kidney disease

Qaim calls for concerted efforts to prevent kidney disease

Sindh Chief Minister, Syed Qaim Ali Shah here on Thursday expressed his concern viz a viz rising incidence of renal failure, in Pakistan and urged for focus on prevention. Addressing the symposium organised by Sindh Institute of Urology and Transplantatio
Published 13 Mar, 2009 12:00am
Sindh ACS misusing billions of rupees on unnecessary schemes

Sindh ACS misusing billions of rupees on unnecessary schemes

Although the country is in grip of financial crisis, the Additional Chief Secretary Sindh (ACS) Nazar Hussain Mahar, who has the political backing of ruling Pakistan Peoples Party-led government, is misusing billions of rupees public money on unnecessary
Published 13 Mar, 2009 12:00am
Oracle highlights solutions for communications industry

Oracle highlights solutions for communications industry

Oracle, the leader in the communications industry, highlights the availability of a unique portfolio of solutions for the Pakistani communications industry to rapidly create, market, sell, fulfil, deliver and bill for next generation services and content.
Published 13 Mar, 2009 12:00am
Sindh government urged to suspend provincial taxes

Sindh government urged to suspend provincial taxes

Senior Vice President Karachi Chamber of Commerce and Industry (KCCI), Jawed Bilwani has urged the provincial government of Sindh to suspend provincial taxes for at least two years. In a communication, he said that cost of doing business has enormously in
Published 13 Mar, 2009 12:00am
ESUP organises speech competition

ESUP organises speech competition

The English Speaking Union of Pakistan (ESUP) organised the annual public speaking competition at a local hotel on Thursday. The theme of the competition was "Regeneration and Renewal." The occasion was presided by Robert Gibson, British Deputy High Commi
Published 13 Mar, 2009 12:00am
US Ambassador meets Nawaz

US Ambassador meets Nawaz

In the backdrop of prevailing political unrest in the country, US Ambassador in Pakistan Anne W. Peterson called on Pakistan Muslim League-Nawaz leader Mian Nawaz Sharif in a bid to help resolve differences between two major political parties (PPP and PML
Published 13 Mar, 2009 12:00am
Only two inspection officials for 1,700 boilers in Sindh

Only two inspection officials for 1,700 boilers in Sindh

The claims of Sindh governments for the last 20 years about promoting industrialisation and safety measures seems to be hollow as there are only two inspection officials for more than 1700 boilers across the province, it is learnt.
Published 13 Mar, 2009 12:00am
Long march will change nations destiny: Hashmi

Long march will change nations destiny: Hashmi

Makhdoom Javed Hashmi, central vice president of PML-N on Thursday said that the long march would change the nations destiny, urging the people to prepare for sacrifices to bring about a political revolution in the country.
Published 13 Mar, 2009 12:00am
Multan lawyers vow to defy all restrictions

Multan lawyers vow to defy all restrictions

The lawyers leadership in Multan has warned the government against using force to prevent long march and subsequent sit-in, vowing that they are ready to defy all restrictions including imposition of section 144 and no force can stop flood of protesters,
Published 13 Mar, 2009 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (March 12, 2009).

Published 13 Mar, 2009 12:00am
Dialogue, reconciliation solution to all problems: AG

Dialogue, reconciliation solution to all problems: AG

Attorney General Sardar Latif Khan Khosa on Thursday said that politics of confrontation is no service to the nation and all issues should be decided in the Parliament. Talking to APP, he said that dialogue and reconciliation is solution to all problems a
Published 13 Mar, 2009 12:00am
EUs decision to abolish anti-dumping duty hailed

EUs decision to abolish anti-dumping duty hailed

Chairman, Faisalabad Dry Port Trust, Sheikh Ashfaq Ahmed has hailed the European Union decision to abolish Anti-Dumping Duty on Export of Bed Linen to European Countries and said that after this long-awaited decision, the Exports of Bed Linen from Pakista
Published 13 Mar, 2009 12:00am
Lawyers take out weekly rallies in Lahore

Lawyers take out weekly rallies in Lahore

Lawyers in Lahore took out their weekly protest rallies despite section 144 imposed by the Punjab government to keep the masses away from the long march and sit-in to be staged at Constitutional Avenue. As the long march started from Karachi and Quetta on
Published 13 Mar, 2009 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Thursday (March 12, 2009).

Published 13 Mar, 2009 12:00am
Crackdown against opposition parties activists continues

Crackdown against opposition parties activists continues

Crackdown of law enforcement agencies continued against the activists of political parities, who are supporting and participating long march and in this connection at least 142 activists of PML-N, JI, Jamiat Ahle-Hadith and Shabab-i-Milli have been arrest
Published 13 Mar, 2009 12:00am
THE RUPEE: dollar retreats

THE RUPEE: dollar retreats

Further improvement was seen on the currency market on Thursday as rupee recovered more ground versus dollar, dealers said. On the interbank market the rupee rose by five paisa against dollar for buying and selling at 80.30 and 80.35, they said.
Published 13 Mar, 2009 12:00am
MCCI hails SBPs decision

MCCI hails SBPs decision

President of Multan Chamber of Commerce & Industry (MCCI) Anis Ahmed Sheikh has hailed the decision of State Bank of Pakistan (SBP) to allow financing for the import of second hand plant and machinery to be used in the eligible sectors/sub-sectors of LTFF
Published 13 Mar, 2009 12:00am
THE RUPEE: dollar retreats

THE RUPEE: dollar retreats

Further improvement was seen on the currency market on Thursday as rupee recovered more ground versus dollar, dealers said. On the interbank market the rupee rose by five paisa against dollar for buying and selling at 80.30 and 80.35, they said.
Published 13 Mar, 2009 12:00am
Zardari firms his grip on State institutions

Zardari firms his grip on State institutions

President Asif Ali Zardari has proved to be the most skilful politician and tactician in Pakistans recent history to complete his grip on all state institutions in just one year as his under-rated choice for high office of Chairman Senate Farooq H. Naek w
Published 13 Mar, 2009 12:00am
Pakistan must give access to nuclear scientist: US lawmakers

Pakistan must give access to nuclear scientist: US lawmakers

US lawmakers on Thursday introduced legislation aiming to cut off military aid to Pakistan unless US officials are able to question alleged nuclear proliferator Abdul Qadeer Khan. Khan, released from house arrest in early February, "is again a loose nuke
Published 13 Mar, 2009 12:00am
Pakistan must give access to nuclear scientist: US lawmakers

Pakistan must give access to nuclear scientist: US lawmakers

US lawmakers on Thursday introduced legislation aiming to cut off military aid to Pakistan unless US officials are able to question alleged nuclear proliferator Abdul Qadeer Khan. Khan, released from house arrest in early February, "is again a loose nuke
Published 13 Mar, 2009 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Thursday (March 12, 2009).

Published 13 Mar, 2009 12:00am
Pakistan, Afghanistan and Iran join hands in crackdown on drug dealers

Pakistan, Afghanistan and Iran join hands in crackdown on drug dealers

Iran, Afghanistan and Pakistan carried out their first joint counter-narcotics operation this week, pooling intelligence to arrest suspects and seize drugs in an unprecedented show of co-operation, UN officials said. Officials at the Vienna-based UN Offic
Published 13 Mar, 2009 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 13 Mar, 2009 12:00am
Pakistan, Afghanistan and Iran join hands in crackdown on drug dealers

Pakistan, Afghanistan and Iran join hands in crackdown on drug dealers

Iran, Afghanistan and Pakistan carried out their first joint counter-narcotics operation this week, pooling intelligence to arrest suspects and seize drugs in an unprecedented show of co-operation, UN officials said. Officials at the Vienna-based UN Offic
Published 13 Mar, 2009 12:00am
Rally to support child protection bill on March 14

Rally to support child protection bill on March 14

A number of children here in the district would rally in favour of the proposed Child Protection Bill 2009 on March 14. Rights activist, Abdur Rab Farooqi from NGO Jaag Welfare Movement RYK while talking to APP here on Thursday said that a child conventio
Published 13 Mar, 2009 12:00am
French paper ordered to pay Real damages over doping slur

French paper ordered to pay Real damages over doping slur

French newspaper Le Monde and one of its reporters have been ordered to pay 300,000 euros (340,000 dollars) in damages to Real Madrid over an article a Spanish court found to be defamatory, a club spokesman said Thursday. The Madrid court found Le Monde a
Published 13 Mar, 2009 12:00am
Newcomer Arnel named in New Zealand Test squad

Newcomer Arnel named in New Zealand Test squad

New Zealand have named uncapped pace bowler Brent Arnel in their squad to face India in the first of three Tests starting on March 18. Injury-prone allrounder Jacob Oram has been left out due to concerns he is not fit enough for Test cricket. His place ha
Published 13 Mar, 2009 12:00am
Swiss franc down

Swiss franc down

The Swiss franc fell against the dollar and was flat against the euro on Thursday ahead of the Swiss National Banks policy decision, where the central bank is seen cutting interest rates by 25 basis points to a historic low. The franc rose 0.1 percent aga
Published 13 Mar, 2009 12:00am
Police probe Inters Mourinho for punching fan

Police probe Inters Mourinho for punching fan

Detectives are investigating allegations that Inter Milan coach Jose Mourinho assaulted a fan after his sides Champions League defeat against Manchester United, British police said on Thursday. The fan said he was punched in the face outside Uniteds Old T
Published 13 Mar, 2009 12:00am
Football team returns home from Kathmandu

Football team returns home from Kathmandu

Pakistan football team returned home on Thursday from Nepal capital Kathmandu after participation in the six-team Prime Ministers Cup Football Tournament 2009. Pakistan drew with Arambagh Krira Sangha (Bangladesh) 1-1 in their opener and lost 0-1 against
Published 13 Mar, 2009 12:00am
Federer keen to renew rivalry with Nadal

Federer keen to renew rivalry with Nadal

Roger Federer, bested by Rafael Nadal in a five-set final at the Australian Open in January, is keen to renew his rivalry with his Spanish foe at the Indian Wells Masters series. Federers appearance in the California desert, where mens play begins Thursda
Published 13 Mar, 2009 12:00am
Lyon blame French soccer for Champions League early exit

Lyon blame French soccer for Champions League early exit

The structure of French soccer and an inability to compete financially with Europes big clubs are partly to blame for Olympique Lyons Champions League exit, chairman Jean-Michel Aulas said. The seven-times French champions were knocked out 6-3 on aggregat
Published 13 Mar, 2009 12:00am
Four English clubs into quarter-finals

Four English clubs into quarter-finals

English clubs completed a clean sweep of four teams into the Champions League quarter-finals following a cliff-hanger shootout victory by Arsenal against Roma on Wednesday night. Defending champions Manchester United had already beaten Inter Milan, and on
Published 13 Mar, 2009 12:00am
Ronaldo on target again as Corinthians win

Ronaldo on target again as Corinthians win

Ronaldo continued his impressive return from a year-long injury layoff as he scored for the second game in a row to give Corinthians a 2-1 win over Sao Caetano on Wednesday. Sao Caetano had taken a 22nd minute lead with a Marcelo Batatais header before An
Published 13 Mar, 2009 12:00am
Lord Nazir freed in dangerous driving case

Lord Nazir freed in dangerous driving case

Britains first Muslim peer, who was jailed last month for sending text messages just before a fatal road accident, was freed Thursday by the Court of Appeal. Lord Nazir Ahmed, 51, was sent to prison for 12 weeks on February 25 for dangerous driving after
Published 13 Mar, 2009 12:00am
US and China try to defuse tension, focus on economy

US and China try to defuse tension, focus on economy

President Barack Obama welcomes Chinese Foreign Minister Yang Jiechi to the White House Thursday as both powers try to defuse military tensions and focus on stabilising the global economy. Obama invited Yang after the visiting foreign minister held talks
Published 13 Mar, 2009 12:00am
Afghan journalists protest against weak security

Afghan journalists protest against weak security

Afghan journalists protested Thursday against poor security after a reporter was shot dead, with Amnesty International warning the media was under threat in Afghanistan. A few dozen reporters marched through the southern city of Kandahar to condemn Tuesda
Published 13 Mar, 2009 12:00am
Kabul will only talk to Taliban who stop war

Kabul will only talk to Taliban who stop war

The Afghan government reiterated Thursday it was only willing to negotiate peace with Taliban members who stopped fighting, following calls from Washington to explore contacts with the group. Asked about renewed interest in political reconciliation, Afgha
Published 13 Mar, 2009 12:00am
Jobless Russian office workers scramble for work

Jobless Russian office workers scramble for work

Thousands of unemployed office workers crammed into a Moscow job fair on Thursday as Russias fledgling middle classes began to take the strain of the deepening economic crisis. Employers in Russia are slashing jobs as the economy buckles after a decade-lo
Published 13 Mar, 2009 12:00am
China criticises US for resolution on Tibet

China criticises US for resolution on Tibet

China accused the US Congress on Thursday of damaging relations and meddling in Chinas internal affairs by passing a resolution recognising the plight of Tibets people and their exiled spiritual leader, the Dalai Lama. It was the second time in as many da
Published 13 Mar, 2009 12:00am
Canadian judge sentences convicted terrorist

Canadian judge sentences convicted terrorist

A judge sentenced a Canadian man to 10 1/2 years in prison Thursday for plotting with a group of British Muslims to bomb buildings and natural gas lines in the United Kingdom. Momim Khawaja is the first person to be sentenced under Canadian anti-terrorism
Published 13 Mar, 2009 12:00am
Serbian soldiers get 20 years

Serbian soldiers get 20 years

A Serbian war crimes court on Thursday sentenced 13 former reservists in the ex Yugoslav army to between five and 20 years in prison for their involvement in war crimes committed in Croatia in 1991. Five other defendents were acquitted.
Published 13 Mar, 2009 12:00am
France may allow Gulf investors into nuclear giant

France may allow Gulf investors into nuclear giant

The French government may allow Gulf states sovereign wealth funds to take minority stakes in the nuclear giant Areva, the Financial Times reported Thursday. The report quoted people close to the matter as saying exploratory talks have been held on offeri
Published 13 Mar, 2009 12:00am
Hit by crisis, European farmers protest in Prague

Hit by crisis, European farmers protest in Prague

Thousands of Czech and other European farmers protested in Prague on Thursday to demand higher milk prices and subsidies to boost incomes hit by the global economic crisis. Farmers from Germany, Austria, Slovakia, Slovenia and Poland marched through the C
Published 13 Mar, 2009 12:00am
Madoff pleads guilty to fraud, sent to jail

Madoff pleads guilty to fraud, sent to jail

Bernard Madoff pleaded guilty on Thursday to charges he orchestrated the biggest financial swindle in Wall Street history and was ordered to jail to await a sentence that could last the rest of his life. "I cannot adequately express how sorry I am for wha
Published 13 Mar, 2009 12:00am
Sri Lanka says seizes hospital from rebels

Sri Lanka says seizes hospital from rebels

The Sri Lankan army Thursday seized the last remaining medical facility held by separatist Tamil Tiger rebels in the north of the island, a military official said. Military spokesman Brigadier Udaya Nanayakkara said the troops took the facility near Puthu
Published 13 Mar, 2009 12:00am
Human trafficking a thriving global business: UN

Human trafficking a thriving global business: UN

Human trafficking currently ranks among the worlds most thriving criminal activities with an estimated 2.5 million victims "at any given time," a new United Nations report said Thursday. "The world today is confronted with a huge human trafficking problem
Published 13 Mar, 2009 12:00am
Dollar funding costs slip marginally

Dollar funding costs slip marginally

Dollar funding costs slipped on Thursday with the benchmark three-month interbank lending rate extending its retreat from a two-month peak as money market tension eased slightly. Recent comments from the heads of J.P. Morgan Chase and Citigroup that their
Published 13 Mar, 2009 12:00am
Pound falls versus dollar and euro

Pound falls versus dollar and euro

Sterling fell against a broadly stronger dollar on Thursday and hit a new six-week low against the euro after currency intervention by the Swiss National Bank. The SNB said it would purchase foreign currency to weaken the Swiss franc. Traders said the SNB
Published 13 Mar, 2009 12:00am
Yen gains broadly in London

Yen gains broadly in London

The yen rallied broadly on Thursday, with the dollar hitting a 2-week low against the currency as Japanese investors repatriated funds, while the dollar gained against other currencies as equities fell. Japanese investors typically bring home funds to win
Published 13 Mar, 2009 12:00am
Indian rupee ends lower

Indian rupee ends lower

The Indian rupee gave up early gains to end lower on Thursday as a rise in local share prices was offset by renewed dollar buying by crude refiners after a rebound in global oil prices. The partially convertible rupee ended at 51.88/90 per dollar, off an
Published 13 Mar, 2009 12:00am
European bonds: triple-B issuers reignite primary market

European bonds: triple-B issuers reignite primary market

European credit spreads were volatile on Thursday, but activity in the primary market picked up with benchmark issues from triple-B rated issuers Telecom Italia and British publisher Pearson. By 1609 GMT, the investment-grade Markit iTraxx Europe index wa
Published 13 Mar, 2009 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian bond spreads widened slightly on Thursday on concerns the regions export-oriented economies may have to boost their stimulus efforts and spend more to counter slumping exports. South Korea earlier on Thursday said it would spend additional $4.2 bill
Published 13 Mar, 2009 12:00am
European bonds: triple-B issuers reignite primary market

European bonds: triple-B issuers reignite primary market

European credit spreads were volatile on Thursday, but activity in the primary market picked up with benchmark issues from triple-B rated issuers Telecom Italia and British publisher Pearson. By 1609 GMT, the investment-grade Markit iTraxx Europe index wa
Published 13 Mar, 2009 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian bond spreads widened slightly on Thursday on concerns the regions export-oriented economies may have to boost their stimulus efforts and spend more to counter slumping exports. South Korea earlier on Thursday said it would spend additional $4.2 bill
Published 13 Mar, 2009 12:00am
Indian shares gain 2.25 percent

Indian shares gain 2.25 percent

Indian shares rose 2.25 percent on Thursday on fresh purchases after a two-day local holiday, mirroring US gains, on hopes the financial sector was showing signs of recovery, dealers said. The benchmark 30-share Sensex index rose 183.35 points to 8,343.75
Published 13 Mar, 2009 12:00am
UKs top share index rises

UKs top share index rises

Britains FTSE 100 index ended higher on Thursday, lifted by defensive drugmakers and US retail data that settled investors nerves, but gains were capped by weak mining stocks. The index ended up 18.25 points, or 0.5 percent, at 3,712.06 after slipping 0.6
Published 13 Mar, 2009 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

Speculations about a major breakthrough are in the air, but on the ground the PPP might have found a good friend in the form of PML-Q. Why is it so? It is very simple. The PPP and the PML-Q have one thing in common. Their views on the judiciary are almost
Published 13 Mar, 2009 12:00am
Government plotting to assassinate Sharif brothers, alleges PML-N

Government plotting to assassinate Sharif brothers, alleges PML-N

Pakistan Muslim League-Nawaz (PML-N) on Thursday warned the government that if anything happened to Sharif brothers, an FIR will be registered against the people at the helm of affairs. Speaking in Senate, Ishaq Dar alleged that the government is plotting
Published 13 Mar, 2009 12:00am