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Print - 2009-03-26
Conferment of awards on industrialists hailed

Conferment of awards on industrialists hailed

The Korangi Association of Trade and Industry (Kati) has expressed its gratitude over conferment of Pride of Performance award on three top industrialists of the country Senator Abdul Haseeb Khan, S M Naseer and Khalid Tawab.
Published 26 Mar, 2009 12:00am
Passco to buy one million tons of rain-affected rice from growers: Qaim

Passco to buy one million tons of rain-affected rice from growers: Qaim

Sindh government on Wednesday announced that Passco would purchase one million tons rain-affected rice from growers and use it as animal feed. The provincial government also announced to waive the recovery of land revenue and "Abiana" from the calamity-hi
Published 26 Mar, 2009 12:00am
TIP launches legal advice centre

TIP launches legal advice centre

To provide the aggrieved citizens with free legal assistance, the Transparency International Pakistan (TIP) on Wednesday launched an Advocacy and Legal Advice Centre (ALDC) in Karachi. Speaking at a press conference at Karachi Press Club, the Chairman of
Published 26 Mar, 2009 12:00am
Pakistani products need to have brand names

Pakistani products need to have brand names

Assistant Executive Director Hong Kong Trade Development Council Raymond Yip has said that Pakistani products needs to have brand names so that the Pakistani exports can compete with India and China. He expressed these views on Wednesday during his meetin
Published 26 Mar, 2009 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 26 Mar, 2009 12:00am
AG Sindh office a hub of Corruption

AG Sindh office a hub of Corruption

The office of Accountant General (AG) Sindh has become the center of mismanagement and corruption, official sources told Business Recorder on Wednesday. They said that AG Sindh office is the center, where Sindh government employees visit for their
Published 26 Mar, 2009 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Wednesday (March 25, 2009).

Published 26 Mar, 2009 12:00am
Passco conference on wheat procurement 2009 concludes

Passco conference on wheat procurement 2009 concludes

Two-day zonal heads conference of the Pakistan Agricultural Storage and Services Corporation (Passco) concluded here on Wednesday with the pledge to meet the targets of wheat procurement 2009 in a transparent manner. The conference started on Tuesday at t
Published 26 Mar, 2009 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 26 Mar, 2009 12:00am
Global meltdown: Pakistan needs stable exports

Global meltdown: Pakistan needs stable exports

The world economy continues to be on a downward spiral. According to the latest estimates prepared by the International Monetary Fund, the global economy, reeling from financial crisis, was on track to shrink for the first time in 60 years in 2009 by as m
Published 26 Mar, 2009 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 26 Mar, 2009 12:00am
Businessmen urged to set up industries in Mexico

Businessmen urged to set up industries in Mexico

The Ambassador of Mexico, Arturo Hernandez Basave, has urged the Pakistani business community to develop their trade and set up their industries in Mexico, as it provides a direct and easy access to the US and Canadian markets with which Pakistan has 90 p
Published 26 Mar, 2009 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 26 Mar, 2009 12:00am
Hino Pak holds two-day free service camp

Hino Pak holds two-day free service camp

Hino Pak Motors Limited organised a two-day free service camp at Hino 3S dealership, Owais Motors, Hino Peshawar on Ring Road. Senator Abbas Afridi was the chief guest, while Senator Idris Safi was the guest of honour on the occasion.
Published 26 Mar, 2009 12:00am
Action needed now to fix water woes

Action needed now to fix water woes

Woefully, according to a newspaper report from Islamabad, this years World Water Day, on March 22, with its theme "Shared Water - Shared Opportunities" signifying the importance of trans-boundary rivers, lakes and waters to link population of different co
Published 26 Mar, 2009 12:00am
Call for a stakeholders Conference

Call for a stakeholders Conference

No thinking Pakistani would believe that with the amicable resolution of the deposed judges restoration issue we are out of the woods. Not yet, it only righted a wrong. Thanks to the nearly decade-long one-man rule, the problems that the democratic dispen
Published 26 Mar, 2009 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (March 25, 2009).

Published 26 Mar, 2009 12:00am
Asia seeks a bigger say in global financial cleanup

Asia seeks a bigger say in global financial cleanup

Six months ago, when the financial crisis started in US and European markets, there was still hope that South-East and East Asia would prove immune to the latest hiccup in capitalism. The region suffered its own financial crisis in 1997-98 when weak finan
Published 26 Mar, 2009 12:00am
The protection that doesnt shield economies

The protection that doesnt shield economies

The trade wars of the Great Depression, which still give economists nightmares, are often held up as Exhibit A when trying to explain why reverting to nationalist commerce policies will not help during the ongoing economic downturn. "Economic isolationism
Published 26 Mar, 2009 12:00am
Odd Lot Market Rates

Odd Lot Market Rates

Odd Lot Market Rates on Wednesday (March 25, 2009).

Published 26 Mar, 2009 12:00am
Odd Lot Market Rates

Odd Lot Market Rates

Odd Lot Market Rates on Wednesday (March 25, 2009).

Published 26 Mar, 2009 12:00am
Important academic disciplines at college level

Important academic disciplines at college level

Sociology and psychology are the two most important academic disciplines. Though both these subjects are being taught at masters level in almost all the universities, including University of Peshawar where they have separate departments, yet, ironically,
Published 26 Mar, 2009 12:00am
Odd Lot Market Rates

Odd Lot Market Rates

Odd Lot Market Rates on Wednesday (March 25, 2009).

Published 26 Mar, 2009 12:00am
CDA to install another chiller at Parliament House

CDA to install another chiller at Parliament House

The Capital Development Authority (CDA) has planned to install another chiller in the Parliament House as two chillers already installed there would be unable to fulfil the growing needs in upcoming summer season, said a CDA official here on Wednesday.
Published 26 Mar, 2009 12:00am
Pakistan stresses more seats for developing countries in expanded UNSC

Pakistan stresses more seats for developing countries in expanded UNSC

Pakistan has called for greater allocation of seats to Africa and Asia-the two largest regions-as well as the Group of Latin America and Caribbean countries (GRULAC) on the Security Council as UN member states continued their negotiations on expanding the
Published 26 Mar, 2009 12:00am
Protecting sovereignty of country: Qazi announces another long march

Protecting sovereignty of country: Qazi announces another long march

Amir Jamaat-i-Islami has announced sit-in in the Federal Capital if drones attacks in NWFP, Fata and Balochistan were not stopped. Addressing a news conference here on Wednesday, he said the attacks should be stopped throughout the country immediately, ot
Published 26 Mar, 2009 12:00am
Mushahid favours PPP and PML-N reconciliation

Mushahid favours PPP and PML-N reconciliation

PML-Q Secretary General Mushahid Hussain Sayed has said the reconciliation between the Pakistan Peoples Party (PPP) and Pakistan Muslim League Nawaz (PML-N) would help the government take the country to new highs of development and progress.
Published 26 Mar, 2009 12:00am
Adoptive research plays pivotal role in agriculture recommendations

Adoptive research plays pivotal role in agriculture recommendations

Regional requirements need to be kept in view while finalising latest agricultural recommendations. This was stated by agricultural scientists in a meeting held at Ayub Agricultural Research Institute, Faisalabad to discuss Adoptive Research Programme 200
Published 26 Mar, 2009 12:00am
Zakat ministry releases Rs 91.037 million for Balochistan

Zakat ministry releases Rs 91.037 million for Balochistan

The Ministry of Zakat and Ushr has released Rs 91.037 million as the first instalment of regular budget for the year 2006-09 for Balochistan. The fund has been allocated from Central Zakat Fund for the Provincial Zakat of Balochistan for the destitute, ne
Published 26 Mar, 2009 12:00am
THE RUPEE: mixed pattern seen

THE RUPEE: mixed pattern seen

The rupee rates moved both ways on the currency market on Wednesday amid higher demand for dollars by importers, dealers said. On the interbank market the rupee lost eight paisa at 80.58 in relation to dollar for buying, it also shed seven paisa for selli
Published 26 Mar, 2009 12:00am
74 Indian fishermen arrested

74 Indian fishermen arrested

Maritime Security Agency said on Wednesday it has seized 13 boats and arrested 74 Indian fishermen for illegally trawling in its waters in the Arabian Sea. "Indian fishermen have been cautioned repeatedly to abide by our maritime limits but they have agai
Published 26 Mar, 2009 12:00am
THE RUPEE: mixed pattern seen

THE RUPEE: mixed pattern seen

The rupee rates moved both ways on the currency market on Wednesday amid higher demand for dollars by importers, dealers said. On the interbank market the rupee lost eight paisa at 80.58 in relation to dollar for buying, it also shed seven paisa for selli
Published 26 Mar, 2009 12:00am
Pakistan consumes 370,000 bbl/day oil, petroleum products: ADB study

Pakistan consumes 370,000 bbl/day oil, petroleum products: ADB study

Pakistan contributes little to greenhouse gas emission and global climate change. Its total energy-related carbon dioxide emission, measure about 100 million tons, out of which, 46 percent is from oil-related emissions, 45 percent from gas and 9 percent f
Published 26 Mar, 2009 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (March 25, 2009).

Published 26 Mar, 2009 12:00am
Business leaders to continue efforts for economic stability: BAF

Business leaders to continue efforts for economic stability: BAF

The Businessmen Action Forum (BAF) in its 3rd meeting at Sialkot Chamber of Commerce and Industry (SCCI) on Tuesday here decided that business tycoons would continue their efforts for bringing economic stability despite hurdles. The basic concept of Busin
Published 26 Mar, 2009 12:00am
LeT vows more attacks in held Kashmir

LeT vows more attacks in held Kashmir

The group blamed for the Mumbai attacks threatened on Wednesday more violence in disputed held Kashmir after a five-day gunbattle with troops that killed 25 people. "The Lashkar-e-Taiba (LeT) will continue to render sacrifices for the freedom of Kashmir a
Published 26 Mar, 2009 12:00am
Pakistan pavilion draws huge crowd in Dhaka

Pakistan pavilion draws huge crowd in Dhaka

Huge crowds have evinced keen interest at a Pakistan pavilion set up at a local hotel in Dhaka as part of programmes of the Pakistan High Commission to celebrate Pakistan National Day. The exhibits displayed at the pavilion included handicrafts, tourist s
Published 26 Mar, 2009 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (March 25, 2009).

Published 26 Mar, 2009 12:00am
UN seeks direct contact with Soleckis captors

UN seeks direct contact with Soleckis captors

The United Nations on International Day of Solidarity with Detained and Missing Staff Members Wednesday sought direct contact with the abductors of UNHCR official, John Solecki. John Solecki, UNHCRs head of office in Quetta, was abducted on February2 from
Published 26 Mar, 2009 12:00am
UKs top share index down

UKs top share index down

Britains leading share index ended lower on Wednesday as financials slipped on waning hopes of a US plan to flush out toxic assets from banks and miners tracked weaker metal prices, but oil producers lent support. The FTSE 100 closed down 11.21 points, or
Published 26 Mar, 2009 12:00am
Wednesdays afternoon trade: Wall Street slips

Wednesdays afternoon trade: Wall Street slips

US stocks retreated on Wednesday as technology shares fell after news IBM is planning layoffs and a disappointing Treasury note auction raised concerns of flagging foreign interest in US government debt, which could bode poorly for the economy. The news o
Published 26 Mar, 2009 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (March 25, 2009).

Published 26 Mar, 2009 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (March 25, 2009) and for Thursday (March 26, 2009).
Published 26 Mar, 2009 12:00am
European bond spreads tighten

European bond spreads tighten

European credit spreads tightened on Wednesday as better-than-expected US durable goods and housing data helped lessen fears about the severity of the global recession. By 1623 GMT, the investment-grade Markit iTraxx Europe index was at 159.5 basis points
Published 26 Mar, 2009 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (March 25, 2009).

Published 26 Mar, 2009 12:00am
Indian shares gain

Indian shares gain

Indian shares rose 2.08 percent on Wednesday on firm European markets, in choppy trade a day ahead of the expiry of the monthly futures market contract, dealers said. The benchmark 30-share Sensex index rose 196.86 points to 9,667.9, its third straight da
Published 26 Mar, 2009 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Wednesday (March 25, 2009).

Published 26 Mar, 2009 12:00am
European bond spreads tighten

European bond spreads tighten

European credit spreads tightened on Wednesday as better-than-expected US durable goods and housing data helped lessen fears about the severity of the global recession. By 1623 GMT, the investment-grade Markit iTraxx Europe index was at 159.5 basis points
Published 26 Mar, 2009 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (March 25, 2009).

Published 26 Mar, 2009 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

Gold futures turned higher in choppy trade on Wednesday as the dollar moved weaker in a highly volatile session following comments by Treasury Secretary Timothy Geithner on the strength of the US currency. Gold for April delivery rose $8.20 to $932.00 an
Published 26 Mar, 2009 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (March 25, 2009).

Published 26 Mar, 2009 12:00am
US MIDDAY: copper higher

US MIDDAY: copper higher

US copper futures reversed earlier weakness and headed into positive territory early Wednesday after better-than-expected durable goods and new home sales data brightened investors mood about the economic outlook. Copper for May delivery was trading up 0.
Published 26 Mar, 2009 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 26 Mar, 2009 12:00am
US MIDDAY: sugar extends losses

US MIDDAY: sugar extends losses

Raw sugar futures on ICE Futures US at 1215 GMT. May raw sugar contract fell 0.26 cent to 12.74 cents per lb. Dealing from 12.72 to 13.12 cents. Volume at 17,688 lots.
Published 26 Mar, 2009 12:00am
US MIDDAY: wheat, soya and corn fall

US MIDDAY: wheat, soya and corn fall

US wheat prices fell 2 percent early on Wednesday on forecasts for crop-friendly rains in the drier areas of the US Plains hard red winter wheat growing region. Corn and soyabeans also tumbled on profit-taking and plentiful moisture in the heart of US cor
Published 26 Mar, 2009 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 26 Mar, 2009 12:00am
Gold spikes in Europe

Gold spikes in Europe

Gold prices spiked up on Wednesday as the dollar fell after US Treasury Secretary Timothy Geithner talked about a system put forward by China that would replace the dollar as the worlds reserve currency. Geithner said he was "quite open" to Chinas suggest
Published 26 Mar, 2009 12:00am
US MIDDAY: coffee and cocoa ease

US MIDDAY: coffee and cocoa ease

Arabica coffee and US cocoa futures eased in early trade on Wednesday, correcting lower and remaining rangebound, traders said. Arabica coffee for May delivery down 0.85 cent at $1.1590 per lb, by 9:07 am EDT (1307 GMT). Session range from $1.1530 to $1.1
Published 26 Mar, 2009 12:00am
The Weather

The Weather

The weather report on Wednesday (March 25, 2009) and the forecast for Thursday (March 26, 2009).

Published 26 Mar, 2009 12:00am
Sugar falls in London on Indias import comments

Sugar falls in London on Indias import comments

Raw and white sugar futures fell on Wednesday, pressured by India Farm Minister Sharad Pawars comments that India may not need white sugar imports at zero duty as local prices had fallen. Coffee prices were little changed, underpinned by a weaker dollar a
Published 26 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 days closes in brackets).

Published 26 Mar, 2009 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (March 25, 2009).

Published 26 Mar, 2009 12:00am
Oil falls

Oil falls

Oil fell more than $1 a barrel on Wednesday as US government data showed crude stocks were at their highest since 1993. The Energy Information Administrations weekly inventory report showed a more-than-expected 3.3 million-barrel rise in US crude supplies
Published 26 Mar, 2009 12:00am
Copper stays steady

Copper stays steady

Copper held steady on Wednesday, paring earlier losses after the dollar weakened and a rise in US new home sales boosted sentiment on the economic and demand outlook. Copper for three-month delivery on the London Metal Exchange ended at $3,990 in official
Published 26 Mar, 2009 12:00am
New York cotton settles firmer

New York cotton settles firmer

Cotton futures closed slightly firmer on Wednesday on investor short-covering as the markets correction from a 5-1/2 week top abated and players eyed release of a key crop report next week, brokers said. The key May cotton contract gained 0.27 cent to con
Published 26 Mar, 2009 12:00am
Dollar reverses gains in London

Dollar reverses gains in London

The dollar reversed earlier gains on Wednesday with Wall Street set to open higher, but moves were capped as investors assessed whether the US plan to remove toxic assets from banks was enough to spur an economic recovery. Sterling extended early broad lo
Published 26 Mar, 2009 12:00am
Indian rupee springs back

Indian rupee springs back

The Indian rupee rebounded from one-week lows on Wednesday on late gains in the domestic share market and dollar sales by exporters, but month-end demand for the US unit capped a sharp rise. The partially convertible rupee closed at 50.74/75 per dollar, o
Published 26 Mar, 2009 12:00am
Sterling falls versus dollar and euro

Sterling falls versus dollar and euro

Sterling fell against the dollar and euro on Wednesday after a sharper than forecast fall in British retail sales highlighted a contracting economy. The Confederation of British Industrys distributive trades survey balance fell to -44 in March from -25 in
Published 26 Mar, 2009 12:00am
Three-month dollar Libor steadies

Three-month dollar Libor steadies

The bank-to-bank funding rate for three-month dollars was little changed on Wednesday, but a key measure of money market stress eased following a US plan, unveiled early this week, to help rid banks of toxic assets. Uncertainty remains about how successfu
Published 26 Mar, 2009 12:00am
Prgmea for early payment of R&D support claims

Prgmea for early payment of R&D support claims

Pakistan Readymade Garments Manufacturing and Exporters Association (Prgmea) has urged the government to pay immediately research and development (R&D) support claims for shipments up to June 30, 2008.
Published 26 Mar, 2009 12:00am
33 laboratory

33 laboratory

With a view to improving the quality of government schools, the School Education Department has upgraded all the 33 laboratory schools affiliated with Government Colleges for Elementary Teachers (GCETs) to English medium schools. These schools will start
Published 26 Mar, 2009 12:00am
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