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Print - 2009-04-03
Directors compensation in Pakistan considerably low

Directors compensation in Pakistan considerably low

Pakistan Institute of Corporate Governance (PICG) recently conducted a survey on the compensation policies of Directors of Boards in Pakistan in relation to Corporate Governance practices. According to a press release issued here on Thursday, the study is
Published 03 Apr, 2009 12:00am
Police academy attack: Kati offers assistance to grieved families

Police academy attack: Kati offers assistance to grieved families

Chairman, Korangi Association of Trade and Industry (Kati), Mian Zahid Husain has announced Rs 50,000 each to the families of the deceased trainees at the Manawan Police Training Center, Lahore. In a statement released on Wednesday the Kati Chief expresse
Published 03 Apr, 2009 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 03 Apr, 2009 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 03 Apr, 2009 12:00am
Last batch of troops returns after UN duty in Sudan

Last batch of troops returns after UN duty in Sudan

The last batch of 200 Pakistani troops has arrived after successful completion of the task performed to restore peace, order and rehabilitation of infrastructure in their area of responsibility, under the aegis of the United Nations in Sudan.
Published 03 Apr, 2009 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 03 Apr, 2009 12:00am
Political worker gunned down

Political worker gunned down

Civic life in the city came to a halt, when violence broke out in eastern part of the city after killing of a political worker on Thursday. According to details, Syed Kamal son of Sardar Hussain, who was said to be the resident of Pehalwan Goth, was shot
Published 03 Apr, 2009 12:00am
LPG price being reduced by 12 percent

LPG price being reduced by 12 percent

Private sector LPG producer Jamshoro Joint Venture Limited (JJVL) is reducing its price by about 12 percent for the month of April with effect from today (Friday) Business Recorder has learnt. Price reduction is being made in accordance with the of
Published 03 Apr, 2009 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Thursday (April 02, 2009).

Published 03 Apr, 2009 12:00am
Drone attacks tantamount to violations of Pakistans sovereignty

Drone attacks tantamount to violations of Pakistans sovereignty

Pakistan said it will raise the issue of drone attacks on tribal areas with the United States next week during the scheduled visit of US special envoy for Pakistan and Afghanistan Richard Holbrooke to Islamabad. This was stated by Foreign Office spokesman
Published 03 Apr, 2009 12:00am
KSE to seek relief in taxation on share trading

KSE to seek relief in taxation on share trading

Karachi Stock Exchange (KSE) will seek relief in taxation on share trading in the proposals for the federal budget 2009-10, sources said. The budget proposals have been completed and will be approved by the KSE board of directors in its meeting scheduled
Published 03 Apr, 2009 12:00am
One in 10 Americans still think Obama is Muslim: poll

One in 10 Americans still think Obama is Muslim: poll

More than two months after Barack Obama placed his hand on the Bible and was sworn in as president of the United States, 11 percent of Americans still think he is a Muslim, a poll suggested on Thursday. White evangelical Protestants and Republicans were t
Published 03 Apr, 2009 12:00am
One in 10 Americans still think Obama is Muslim: poll

One in 10 Americans still think Obama is Muslim: poll

More than two months after Barack Obama placed his hand on the Bible and was sworn in as president of the United States, 11 percent of Americans still think he is a Muslim, a poll suggested on Thursday. White evangelical Protestants and Republicans were t
Published 03 Apr, 2009 12:00am
Zardari to preside over PPP meeting today

Zardari to preside over PPP meeting today

President Asif Ali Zardari, co-chairman of Pakistan Peoples Party (PPP), will preside over the party meeting in Naudero on 03rd April at 06 pm. All Central Executive Committee members, Federal Council members, Members National Assembly and Senators have b
Published 03 Apr, 2009 12:00am
Taj Muhammad Jamali passes away

Taj Muhammad Jamali passes away

Veteran politician, former Balochistan chief minister and MNA Taj Muhammad Khan Jamali, died at a hospital in Karachi on Thursday evening. He was 70, family sources confirmed. Taj Muhammad Jamali was maternal uncle of deputy chairman senate Jan Muhammad J
Published 03 Apr, 2009 12:00am
Bleached, unbleached cloth: SBP announces export refinance facility

Bleached, unbleached cloth: SBP announces export refinance facility

The State Bank of Pakistan on Thursday announced to provide the export refinance facility for export of bleached and unbleached cloth with export value of $2.50 per square meter. SBP referring to the negative list attached to BPD Circular No 5 dated 24th
Published 03 Apr, 2009 12:00am
Bleached, unbleached cloth: SBP announces export refinance facility

Bleached, unbleached cloth: SBP announces export refinance facility

The State Bank of Pakistan on Thursday announced to provide the export refinance facility for export of bleached and unbleached cloth with export value of $2.50 per square meter. SBP referring to the negative list attached to BPD Circular No 5 dated 24th
Published 03 Apr, 2009 12:00am
Security tightened for candidates in Indian elections

Security tightened for candidates in Indian elections

Special security measures are being put in place for more than 35 high-profile candidates contesting Indias elections amid intelligence reports of possible terrorist attacks. Indias federal Home Minister P Chidambaram has written letters to 40 candidates
Published 03 Apr, 2009 12:00am
Security tightened for candidates in Indian elections

Security tightened for candidates in Indian elections

Special security measures are being put in place for more than 35 high-profile candidates contesting Indias elections amid intelligence reports of possible terrorist attacks. Indias federal Home Minister P Chidambaram has written letters to 40 candidates
Published 03 Apr, 2009 12:00am
Fruit, vegetable traders demonstration on April 5

Fruit, vegetable traders demonstration on April 5

Fruit and vegetable traders on Sunday, April 5 will hold a protest demonstration in front of the market committee office at New Sabzi Mandi against the eight years of frustrating administrative rule by the Sindh Agriculture Department.
Published 03 Apr, 2009 12:00am
THE RUPEE: dollar retreats

THE RUPEE: dollar retreats

Bullish sentiment was seen on the interbank market on Thursday as the rupee recovered eight paisa against dollar for buying at 80.50 and it also gain 2 paisa for selling at 80.60, dealers said. Commenting on the appreciation of the rupee money experts sai
Published 03 Apr, 2009 12:00am
Atom security top notch despite fears

Atom security top notch despite fears

Pakistan maintains security around its nuclear sites that is second to none and the world has no cause for concern, a senior official said. Muhammad Khaliq, project director for Pakistans Nuclear Security Action Plan, outlined improvements to Pakistani at
Published 03 Apr, 2009 12:00am
THE RUPEE: dollar retreats

THE RUPEE: dollar retreats

Bullish sentiment was seen on the interbank market on Thursday as the rupee recovered eight paisa against dollar for buying at 80.50 and it also gain 2 paisa for selling at 80.60, dealers said. Commenting on the appreciation of the rupee money experts sai
Published 03 Apr, 2009 12:00am
JPMCs medical symposium on April 6

JPMCs medical symposium on April 6

The three-day 46th Medical Symposium, which is being organised by the Jinnah Postgraduate Medical Centre (JPMC), will start from April 06, 2009. Federal Health Minister Eijaz Hussain Jakhrani would inaugurate the three-day symposium, Chairman Medical Symp
Published 03 Apr, 2009 12:00am
Samsung solar powered mobile phone arrives

Samsung solar powered mobile phone arrives

Samsung Electronics Co Ltd, unveiled its first ever, innovative, solar powered cellular phone; Solar Crest in Pakistan, emphasising Samsungs vision and its pioneering efforts for environmental sustainability, said a press release on Thursday.As a global l
Published 03 Apr, 2009 12:00am
UBL, PSO launch first auto credit card

UBL, PSO launch first auto credit card

United Bank limited (UBL) and Pakistan State Oil (PSO) launched Pakistans first auto credit card on a nation-wide scale on March 31. The UBL PSO auto credit card offers five percent free fuel every time customers purchase fuel at a PSO outlet and one perc
Published 03 Apr, 2009 12:00am
World Health Day: KPC and ICS chalk out three-day programme

World Health Day: KPC and ICS chalk out three-day programme

Health Committee of Karachi Press Club (KPC) in collaboration with Infection Control Society of Pakistan has chalked out a three day programme to commemorate the World Health Day here from 4 to 7 April. The programme will mainly focus on assessment, preve
Published 03 Apr, 2009 12:00am
Sindh government procures 250,000 metric tons of wheat

Sindh government procures 250,000 metric tons of wheat

The Sindh government has procured 250,000 metric tons of wheat in the first month of the procurement season, officials in Food Department told Business Recorder on Thursday. They said that procurement was in full swing and the target of 1.2 million
Published 03 Apr, 2009 12:00am
RTO Karachi collects Rs 28.95 million from 12 delis in 10 days

RTO Karachi collects Rs 28.95 million from 12 delis in 10 days

Regional Tax Office (RTO), Karachi has collected Rs 28.95 million additional sales tax from 12 prominent delis in ten days. According to the official statistic made exclusively available to Business Recorder revealed that the department has recover
Published 03 Apr, 2009 12:00am
Odd Lot Market Rates

Odd Lot Market Rates

Odd Lot Market Rates on Thursday (April 02, 2009).

Published 03 Apr, 2009 12:00am
Service Industries net profit rises

Service Industries net profit rises

The profit after tax of Service Industries Limited has increased to Rs 340.680 million in the year ended December 31, 2008 as compared to Rs 161.480 million earned in the corresponding period in 2007. The companys earning per share increased to Rs 28.32 i
Published 03 Apr, 2009 12:00am
Odd Lot Market Rates

Odd Lot Market Rates

Odd Lot Market Rates on Thursday (April 02, 2009).

Published 03 Apr, 2009 12:00am
Seven percent growth in furnace oil demand likely

Seven percent growth in furnace oil demand likely

The demand for furnace oil (FO) is likely to grow at an average rate of 7 percent annually during the next five years from FY09 to FY13. The Oil Companies Advisory Committee (Ocac) in its 2008 annual report has recently given out demand projections for fu
Published 03 Apr, 2009 12:00am
Odd Lot Market Rates

Odd Lot Market Rates

Odd Lot Market Rates on Thursday (April 02, 2009).

Published 03 Apr, 2009 12:00am
Kalim appointed BPM President

Kalim appointed BPM President

Bosicor Pakistan Limited (BPL), a crude oil refinery in private sector with a capacity of 30,000 barrel per day (bpd), on Thursday announced its future plans for their Petroleum Marketing with the appointment of Kalim A Siddiqui as President, Bosicor Petr
Published 03 Apr, 2009 12:00am
Etihad Airways appoints Amer Khan as manager

Etihad Airways appoints Amer Khan as manager

Etihad Airways, the national airline of the United Arab Emirates, has appointed Amer Khan as the airlines country manager for Pakistan. Based in Karachi, Khan will be responsible for managing the Abu Dhabi-based airlines commercial operations throughout t
Published 03 Apr, 2009 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Thursday (April 02, 2009).

Published 03 Apr, 2009 12:00am
KCCI stresses study on marine life protection

KCCI stresses study on marine life protection

The Karachi Chamber of Commerce and Industry (KCCI) has suggested that a study should be conducted to determine the minimum Indus flow downstream Kotri Barrage considering all aspects of current degradation of Indus delta and its impact on fish.
Published 03 Apr, 2009 12:00am
City wardens assigned to close illegal Bachat Bazaars

City wardens assigned to close illegal Bachat Bazaars

As a last resort, the City District Government Karachi (CDGK) has decided to mobilise the City Wardens to close all illegal Bachat Bazaars across the city and recover the outstanding dues from the defaulters.
Published 03 Apr, 2009 12:00am
Contraction of bank spreads anticipated

Contraction of bank spreads anticipated

The average spread of banks for the first 2 months (Jan-Feb) of 2009 has increased by 63bps to 7.7 percent from 7.07 percent recorded in the corresponding period in 2008. In the first two months of 2009, average lending rates of banks operating in Pakista
Published 03 Apr, 2009 12:00am
Foreman killed as crane collapses at KPT: angry workers detain ship

Foreman killed as crane collapses at KPT: angry workers detain ship

The stevedoring staffs at Karachi Port have demanded the Karachi Port Trust (KPT) not to allow sailing to an old jute ship, on which one of their colleagues died early in the morning on Thursday due to crane collapse. According to reliable sources M/v Ben
Published 03 Apr, 2009 12:00am
Government to announce Fata reforms package soon

Government to announce Fata reforms package soon

The government will shortly announce Fata reforms package that envisages extension of Political Parties Act to the troubled region. The reform package will remove the harsh provisions of the Frontier Crimes Regulation (FCR). This was stated by President s
Published 03 Apr, 2009 12:00am
Chinese stocks higher

Chinese stocks higher

Chinese main stock index climbed to a fresh seven-month high on Thursday, led by insurers and property shares, as strong overseas stock markets encouraged investors to bet on a Chinese economic recovery. The Shanghai Composite Index, which rose 1.47 perce
Published 03 Apr, 2009 12:00am
Nikkei average climbs

Nikkei average climbs

Japans C 4.4 percent on Thursday to its highest close in 3 months as carmakers powered higher on hopes for the US economy after a string of data came in better than expected. Banks such as Mizuho Financial Group gained on short-covering after recent sharp
Published 03 Apr, 2009 12:00am
New Zealand shares soar

New Zealand shares soar

New Zealand shares closed 0.64 percent higher Thursday after gains in overseas markets, and despite a sharp fall in Fletcher Building after a big capital raising, dealers said. The benchmark NZX-50 index rose 16.56 points to 2,585.80 on turnover worth 112
Published 03 Apr, 2009 12:00am
Taiwan dollar rises

Taiwan dollar rises

The Taiwan dollar jumped as much as 2 percent to an 11-week high on Thursday on brisk foreign fund inflows, but pared most of its gains after the central bank stepped into the market, actively selling the currency. The Taiwan dollar rose as high as T$33.1
Published 03 Apr, 2009 12:00am
Hong Kong dollar inches up

Hong Kong dollar inches up

The Hong Kong dollar was slightly firmer against the US dollar on Thursday, helped by a rally in the stock market. Asian stocks shot higher on Thursday after some positive US economic data overnight fuelled optimism the deep global recession might be mode
Published 03 Apr, 2009 12:00am
Yuan slips versus dollar

Yuan slips versus dollar

The yuan edged lower against the dollar on Thursday but held within its recent ranges, though the G20 summit was seen contributing to a rise in Chinas global status over the long-term and eventually boosting the Chinese currency.
Published 03 Apr, 2009 12:00am
Swiss franc mixed

Swiss franc mixed

The Swiss franc rose against the dollar but was a touch lower against the euro on Thursday as traders looked ahead to two important meetings later in the day which could shape the global economy for some time to come. Trading was subdued ahead of the G20
Published 03 Apr, 2009 12:00am
Yen and dollar drop

Yen and dollar drop

The yen and dollar fell on Thursday, losing ground to higher-yielding currencies as stock markets rose on hopes a deep recession is moderating. Asian stocks surged on Thursday, with Tokyos Nikkei average rallying more than 4 percent, after US factory and
Published 03 Apr, 2009 12:00am
Dollar edges up

Dollar edges up

The US dollar edged higher against the euro on Wednesday on expectations the European Central Bank would cut interest rates and possibly announce unconventional policy measures to stimulate the economy. Investors were also watching leaders from the Group
Published 03 Apr, 2009 12:00am
Australian dollar jumps to 12-week peak

Australian dollar jumps to 12-week peak

The Australian dollar jumped on Thursday, rising to a 12-week high against the euro and above 70 US cents, helped by surprisingly strong trade data and expectations of an interest rate cut in the euro zone. The Aussie raced to a high of 0.5302 euros, a le
Published 03 Apr, 2009 12:00am
Asian currencies buoyed by recovery hopes

Asian currencies buoyed by recovery hopes

The South Korean won posted its biggest daily gain in nearly four months on Thursday, leading an Asia-wide rally supported by hopes that the worlds largest economy has hit its bottom. The won ended the local session at 1,334.5 per dollar, up 3.4 percent f
Published 03 Apr, 2009 12:00am
Australia bid to capitalise on Kallis absence

Australia bid to capitalise on Kallis absence

Australia will look to take advantage of the absence of experienced South Africa all- rounder Jacques Kallis when the teams begin their five-match one-day series on Friday. Kallis suffered a groin strain while bowling in the third test in Cape Town and fa
Published 03 Apr, 2009 12:00am
Wait-and-see for England as West Indies mull strike action

Wait-and-see for England as West Indies mull strike action

England could be left standing at the altar if the West Indies team carries out its threat to boycott the decisive fifth and final One-day International at the Beausejour Cricket Ground on Friday. England still do not know if their opponents will show-up
Published 03 Apr, 2009 12:00am
Swedes punished for Israel Davis Cup lockout

Swedes punished for Israel Davis Cup lockout

The Swedish city of Malmo was banned from hosting Davis Cup matches for five years on Thursday after its controversial decision to stage Swedens World Group clash with Israel behind closed doors. The International Tennis Federation (ITF) said they condemn
Published 03 Apr, 2009 12:00am
Southampton owners go into administration

Southampton owners go into administration

Former FA Cup winners Southampton faced an uncertain future on Thursday when the holding company of the English championship (second division) club went into administration. In a statement to the Stock Exchange, Southampton Leisure Holdings Ltd said that
Published 03 Apr, 2009 12:00am
Pakistans No 1 tennis star gets Rs 0.2 million

Pakistans No 1 tennis star gets Rs 0.2 million

Federal Minister for Sports Pir Aftab Hussain Shah Jallani has given a cheque of Rs 0.2 million to Sarah Mehboob Khan for her achievements in tennis. The player has created history at the age of 14, in 2005, when she became Pakistan No 1 tennis star. She
Published 03 Apr, 2009 12:00am
India vow to chase win

India vow to chase win

India have vowed to chase victory in the third and decisive cricket Test against New Zealand starting here Friday, rather than seal the series by seeking a draw. India lead the series 1-0, and captain Mahendra Singh Dhoni is adamant his team will be tryin
Published 03 Apr, 2009 12:00am
Federer, Djokovic book semi-finals clash

Federer, Djokovic book semi-finals clash

World number two Roger Federer overcame American Andy Roddick in three sets Wednesday to set up a semi-final clash with Novak Djokovic at the ATP Masters 1000 hardcourt tournament here. The second-seeded Swiss, still in search of his first title of 2009,
Published 03 Apr, 2009 12:00am
Tourists will return to Pakistan but not soon

Tourists will return to Pakistan but not soon

International cricket will return to Pakistan in the future, but not before significant increases in security and safety, International Cricket Council (ICC) officials said on Thursday. Security concerns have mounted in the country in recent years with se
Published 03 Apr, 2009 12:00am
Younus Khan urges Asian effort to save cricket

Younus Khan urges Asian effort to save cricket

Pakistani captain Younus Khan on Thursday urged India and other Asian cricket giants to pull together to allay security fears in the region and save the game on the sub-continent. "Cricket hit by security fears is no longer Pakistans problem alone... I th
Published 03 Apr, 2009 12:00am
Bollywood strike over box office takings

Bollywood strike over box office takings

Bollywood film producers are going on indefinite strike from this weekend, after failing to resolve differences with multiplex owners over their share of box office takings. The move is likely to hurt Indias 2.1 billion dollar a year Hindi-language movie
Published 03 Apr, 2009 12:00am
Sudan calls first general election in 24 years for 2010

Sudan calls first general election in 24 years for 2010

Sudan will hold its first general election in 24 years next February, an electoral official said Thursday, despite an international arrest warrant against incumbent President Omar al-Beshir. "The electoral process starts this April and will finish in Febr
Published 03 Apr, 2009 12:00am
Student gets eight years for Chechen murder plot

Student gets eight years for Chechen murder plot

A court in Moscow sentenced a Chechen student on Thursday to eight years in a prison camp for attempting to kill pro-Russian Chechen President Ramzan Kadyrov, Russian news agencies reported. The sentence came two days after jurors convicted the student, L
Published 03 Apr, 2009 12:00am
Bangladesh anti-graft chief quits post

Bangladesh anti-graft chief quits post

The head of Bangladeshs anti-corruption watchdog stepped down Thursday, hinting he was unable to work under the new government of Prime Minister Sheikh Hasina after it curbed the bodys powers. Hasan Mashhud Chowdhury had led the Anti-Corruption Commission
Published 03 Apr, 2009 12:00am
Royal protocol breach as Mrs Obama gets hands on

Royal protocol breach as Mrs Obama gets hands on

Michelle Obama dared touch Queen Elizabeth II, but the US first lady has made such an impact in Britain that she was spared the media savaging that has gone with previous breaches of royal protocol. The pair met at Buckingham Palace on Wednesday. The Brit
Published 03 Apr, 2009 12:00am
Norwegian envoy summoned

Norwegian envoy summoned

Sri Lanka said Thursday it had summoned Norways envoy to complain about the Nordic countrys alleged role in arranging a telephone conversation between Tamil Tiger rebels and a UN official. Foreign Secretary Palitha Kohona said the government voiced its "d
Published 03 Apr, 2009 12:00am
India to begin fighter jet trials soon

India to begin fighter jet trials soon

India will soon begin trials of fighter jets competing for one of the worlds biggest arms deals, a defence ministry official said on Thursday, brushing aside speculation the upcoming election could affect the deal. Last year, six international companies s
Published 03 Apr, 2009 12:00am
Sri Lankan troops encircle rebels in fierce fighting

Sri Lankan troops encircle rebels in fierce fighting

Sri Lankan troops have surrounded dozens of Tamil Tiger separatist rebels during fierce fighting in the islands north in a drive to end a 25-year civil war, the military said Thursday. The rebels - who once commanded a de facto state across a large swath
Published 03 Apr, 2009 12:00am
Russian wheat an option for Brazilian traders

Russian wheat an option for Brazilian traders

Russian wheat could be a satisfactory alternative to Argentine supplies that have grown scarce after a drought and reduced planting, Brazilian trade sources said on Wednesday. Representatives from four Brazilian millers and one trading house returned last
Published 03 Apr, 2009 12:00am
Dyes items mixed on Jodia Bazaar

Dyes items mixed on Jodia Bazaar

The trading in dyes items closed mixed on Jodia Bazaar here on Thursday. The following changes were noted.
Published 03 Apr, 2009 12:00am
Indian sugar futures may rise for fourth day

Indian sugar futures may rise for fourth day

Indian sugar futures may rise for a fourth day on Thursday as bulk buyers like cold-drink and ice-cream makers increased purchases in spot markets amid a downward revision in output estimates, analysts said. Traders were expecting output to drop to 14.5 m
Published 03 Apr, 2009 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 96,870 tonnes of cargo including 61,232 tonnes of import and 35,638 tonnes of export, 4,657 loaded and empty containers (TEUs) during last 24 hours ending at 0700 hours on Thursday.
Published 03 Apr, 2009 12:00am
Sugar prices rise by Rs 100 on grain market

Sugar prices rise by Rs 100 on grain market

A few changes were seen on the grain market on Wednesday as most of the buyers were on the sidelines in anticipation of decline in the prices, dealers said. On the cereals side, wheat old and new gave up Rs 10 to Rs 2470-2485, other items maintained the o
Published 03 Apr, 2009 12:00am
Prices move sharply up on cotton market

Prices move sharply up on cotton market

The rates surged on the cotton market on Thursday as the ginners raised asking prices due to shortage of fine quality, dealers said. In the meantime the official spot rate was unchanged at Rs 3300. The Phutti prices in Sindh and Punjab were higher at Rs 1
Published 03 Apr, 2009 12:00am
Cotton prices tighten further

Cotton prices tighten further

Cotton prices tightened further this week gaining any where from Rs 100 to Rs 150 per maund (37.32 kgs) in the ready market. With the ginners now holding less than an estimated unsold stock of 600,000 domestic size bales from the current crop (2008-2009),
Published 03 Apr, 2009 12:00am
Cotton prices tighten further

Cotton prices tighten further

Cotton prices tightened further this week gaining any where from Rs 100 to Rs 150 per maund (37.32 kgs) in the ready market. With the ginners now holding less than an estimated unsold stock of 600,000 domestic size bales from the current crop (2008-2009),
Published 03 Apr, 2009 12:00am