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Print - 2009-06-11
In troubled times, Americans keep station wagons rolling

In troubled times, Americans keep station wagons rolling

US car giants General Motors and Chrysler might be sputtering through bankruptcy, but one of the most iconic American-made cars is refusing to be backed down the cul de sac of oblivion. It's the car that Americans like Frank Anastasi have packed the famil
Published 11 Jun, 2009 12:00am
Obama reaches out to Muslims

Obama reaches out to Muslims

President of America Barack Obama's speech at Cairo University will be recorded as a landmark beginning in the history with his vision to a new start between his country and the Muslims all over the world. We should be pragmatic to take his speech as an h
Published 11 Jun, 2009 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 11 Jun, 2009 12:00am
A friend with two faces

A friend with two faces

USA has never been a reliable friend of Pakistan. History proves that including the wars of 1965 and 1971, whenever we needed them, they never stood by us. As a matter of fact after using us during the Russian invasion as admitted by the US Secretary of S
Published 11 Jun, 2009 12:00am
SALU signs MoU with Japanese research institute

SALU signs MoU with Japanese research institute

Shah Abdul Latif University (SALU), Khairpur, has signed a Memorandum of Understanding (MoU) with the Research Institute for Humanity and Nature (RIHN) of Kyoto, Japan, to carry out research on archaeological sites. This was stated in a news release issue
Published 11 Jun, 2009 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 11 Jun, 2009 12:00am
Czech envoy calls on Defence Minister

Czech envoy calls on Defence Minister

Ambassador of Czech Republic, Pavol Sepelak, on Wednesday called on Minister for Defence Chaudhry Ahmad Mukhtar, in Rawalpindi. The minister expressed deep regrets over the death of former ambassador Ivo Zadarek, who died in Marriott hotel blast in Islama
Published 11 Jun, 2009 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Wednesday (June 10, 2009).

Published 11 Jun, 2009 12:00am
Lack of funds: aid agencies face closure of relief projects

Lack of funds: aid agencies face closure of relief projects

A group of nine major international aid agencies, expressing their deep concerns, said on Wednesday that their aid efforts to reaching over one million victims Swat valley of Pakistan is under threat due to a lack of funds. The agencies face a shortfall i
Published 11 Jun, 2009 12:00am
Pakistan and China reaffirm commitment to strengthen ties

Pakistan and China reaffirm commitment to strengthen ties

Interior Minister, Rehman Malik is undertaking a visit to China from June 9-12 as part of high level regular consultations between Pakistan and the People's Republic of China, said a Joint Press statement here on Wednesday. The Interior Minister held deta
Published 11 Jun, 2009 12:00am
Water dispute with India to be resolved: Qureshi

Water dispute with India to be resolved: Qureshi

Foreign Minister, Shah Mehmood Qureshi has said that Indian government wants to resume dialogue with Pakistan government, and the prevailing tension between the neighbouring countries after Mumbai attacks has become normal. He said that it is hinted from
Published 11 Jun, 2009 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (June 10, 2009).

Published 11 Jun, 2009 12:00am
Haqqani meets Dr Aafia, assures of legal support

Haqqani meets Dr Aafia, assures of legal support

Pakistan's Ambassador to the United States Husain Haqqani met with detained Pakistani neuroscientist Dr Aafia Siddiqui in a Texas health facility and assured her of the government's full support for her early repatriation to homeland. During the meeting l
Published 11 Jun, 2009 12:00am
Bankruptcy law implementation facts must be made public by SBP: CII

Bankruptcy law implementation facts must be made public by SBP: CII

The Council of Islamic Ideology (CII) has observed that the facts regarding the "bankruptcy law" implementation must be made public by the State Bank of Pakistan (SBP). At the same time, unending secrecy over the statistics on loan write-offs may be lifte
Published 11 Jun, 2009 12:00am
Odd Lot Market Rates

Odd Lot Market Rates

Odd Lot Market Rates on Wednesday (June 10, 2009).

Published 11 Jun, 2009 12:00am
Odd Lot Market Rates

Odd Lot Market Rates

Odd Lot Market Rates on Wednesday (June 10, 2009).

Published 11 Jun, 2009 12:00am
Frustrating terrorism: security beefed up in AJK

Frustrating terrorism: security beefed up in AJK

Security has been beefed up across Azad Jammu and Kashmir (AJK) to frustrate any attempt of terrorism, official sources said. According to the sources, in order to avert any threat of subversion and terrorism, particularly to the state-run installations i
Published 11 Jun, 2009 12:00am
Odd Lot Market Rates

Odd Lot Market Rates

Odd Lot Market Rates on Wednesday (June 10, 2009).

Published 11 Jun, 2009 12:00am
Urs celebrations postponed due to security reason

Urs celebrations postponed due to security reason

The Local Administration on Wednesday postponed Urs celebrations of Chan Pir Badshah, Naangay Badshah and Baba Wali Shah Gardezi. The Urs earlier scheduled on June 18 at Pindori Sharif here was postponed by the Deputy Commissioner Islamabad due to securit
Published 11 Jun, 2009 12:00am
Second day of IIU job fair for women

Second day of IIU job fair for women

The International Islamic University (IIU) here on Wednesday opened the second day of National job fair for women to provide them with best employment opportunities. The event was aimed for provision of employment opportunities to young people, particular
Published 11 Jun, 2009 12:00am
PC hotel blast: UNHCR mourns loss of staff member

PC hotel blast: UNHCR mourns loss of staff member

UN High Commissioner for Refugees Antnio Guterres on Wednesday led staff world-wide in mourning a UNHCR colleague, Aleksandar Vorkapic, who was killed on Tuesday night in the bombing of a hotel in Peshawar, Pakistan. "Aleksandar Vorkapic had volunteered f
Published 11 Jun, 2009 12:00am
BoG formed for BIHR

BoG formed for BIHR

The Board of Governors has been constituted for Bilawal Institute of Historical Research (BIHR) at Shaheed Benazirabad. An official notification issued by the culture department said that Sindh Chief Minister would be the chairman of the Board while Chief
Published 11 Jun, 2009 12:00am
US MIDDAY: gold tumbles

US MIDDAY: gold tumbles

US gold futures turned lower on Wednesday, erasing initial gains, as a dollar bounce and signs of lagging physical jewellery demand prompted investors to take profits. August down $1.80 at $952.90 an ounce at 10:23 am EDT (1423 GMT) on the COMEX division
Published 11 Jun, 2009 12:00am
US MIDDAY: copper pares back

US MIDDAY: copper pares back

US copper futures drifted down at the open on Wednesday as the market paused to catch its breath after a blistering dollar-induced rally that helped drive prices to a new eight-month high just below $2.40 per lb.
Published 11 Jun, 2009 12:00am
THE RUPEE: all-round fall

THE RUPEE: all-round fall

Falling trend persisted on the interbank market on Wednesday as the rupee drifted lower by five paisa in terms of dollar for buying and selling at 81.05 and 81.10, dealers said. Persisting demand for dollars is the main factor, which is continuously keepi
Published 11 Jun, 2009 12:00am
US MIDDAY: soya jumps

US MIDDAY: soya jumps

Chicago Board of Trade soyabeans rose to a fresh nine-month high early on Wednesday, boosted by USDA's outlook for US soya stocks to fall to their lowest level since August 1977, traders said. July soyabeans latest high was $12.54 per bushel, up 10-1/2 ce
Published 11 Jun, 2009 12:00am
THE RUPEE: all-round fall

THE RUPEE: all-round fall

Falling trend persisted on the interbank market on Wednesday as the rupee drifted lower by five paisa in terms of dollar for buying and selling at 81.05 and 81.10, dealers said. Persisting demand for dollars is the main factor, which is continuously keepi
Published 11 Jun, 2009 12:00am
US MIDDAY: wheat falls

US MIDDAY: wheat falls

US wheat futures extended their losses on Wednesday morning amid pressure from the firm US dollar, traders said. At 10:02 am CDT (1502 GMT), Chicago Board of Trade July wheat was down 12-1/2 cents at $6.01-1/4 a bushel. Kansas City Board of Trade and Minn
Published 11 Jun, 2009 12:00am
US MIDDAY: corn plunges

US MIDDAY: corn plunges

Chicago Board of Trade corn futures turned lower early on Wednesday on profit-taking after an early rally on US Agriculture Department data, traders said. July corn was down 4-1/4 cents at $4.39-3/4 a bushel by 1457 GMT.
Published 11 Jun, 2009 12:00am
Gold slips in Europe

Gold slips in Europe

Gold prices slipped on Wednesday, falling below the $950 mark as the dollar rallied against the euro, but prices were supported at the lower levels on potential inflationary concerns from a higher oil price. Spot gold was bid at $949.70 an ounce at 1520 G
Published 11 Jun, 2009 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (June 10, 2009).

Published 11 Jun, 2009 12:00am
US MIDDAY: cocoa, coffee and sugar down

US MIDDAY: cocoa, coffee and sugar down

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Wednesday. July arabica coffee contract lost 1.35 cents at $1.2980 per lb at 11:04 am EDT (1504 GMT). Session range from at $1.2795 to $1.32. July raw sugar contract fell 0.11 cent a
Published 11 Jun, 2009 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (June 10, 2009).

Published 11 Jun, 2009 12:00am
London sugar, coffee fall

London sugar, coffee fall

ICE cocoa futures retreated from a four-month high on Wednesday as the dollar strengthened against the euro, triggering fund and investor selling. Coffee and sugar futures also fell under the weight of the firmer dollar as markets consolidated from recent
Published 11 Jun, 2009 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (June 10, 2009).

Published 11 Jun, 2009 12:00am
Oil hits seven-month peak near $72 a barrel

Oil hits seven-month peak near $72 a barrel

Oil prices surged to a seven-month high near $72 a barrel on Wednesday after a US government report showed a slowdown in crude imports eating away at inventories in the world's top energy user. US crude for July delivery rose $1.32 to settle at $71.33 a b
Published 11 Jun, 2009 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (June 10, 2009) and for Thursday (June 11, 2009).
Published 11 Jun, 2009 12:00am
Oil hits seven-month peak near $72 a barrel

Oil hits seven-month peak near $72 a barrel

Oil prices surged to a seven-month high near $72 a barrel on Wednesday after a US government report showed a slowdown in crude imports eating away at inventories in the world's top energy user. US crude for July delivery rose $1.32 to settle at $71.33 a b
Published 11 Jun, 2009 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (June 10, 2009).

Published 11 Jun, 2009 12:00am
Copper dances to dollar's tune

Copper dances to dollar's tune

Copper rose to an eight-month high before retreating on Wednesday, tracking dollar weakness but finding some support from improving economic sentiment. Copper for three-months delivery on the London Metal Exchange ended at $5,180 a tonne from a close of $
Published 11 Jun, 2009 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 11 Jun, 2009 12:00am
Oil hits seven-month peak near $72 a barrel

Oil hits seven-month peak near $72 a barrel

Oil prices surged to a seven-month high near $72 a barrel on Wednesday after a US government report showed a slowdown in crude imports eating away at inventories in the world''s top energy user. US crude for July delivery rose $1.32 to settle at $71.33 a
Published 11 Jun, 2009 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 11 Jun, 2009 12:00am
New York cotton futures settle easier

New York cotton futures settle easier

Cotton futures settled easier Wednesday on investment sales and switch trade, with analysts saying the market could move in a band while waiting for leads on its next move, brokers said. The July cotton contract fell 0.23 cent to close at 54.63 cents per
Published 11 Jun, 2009 12:00am
Modaraba companies mandatory reserves

Modaraba companies mandatory reserves

The Securities and Exchange Commission of Pakistan (SECP) has proposed amendments in Income Tax Ordinance 2001 to facilitate Modaraba companies in budget, 2009-10. According to the SECP budget proposal, the relevant proviso only refers to provisions of th
Published 11 Jun, 2009 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (June 10, 2009).

Published 11 Jun, 2009 12:00am
The Weather

The Weather

The weather report on Wednesday (June 10, 2009) and the forecast for Thursday (June 11, 2009).

Published 11 Jun, 2009 12:00am
Modaraba companies mandatory reserves

Modaraba companies mandatory reserves

The Securities and Exchange Commission of Pakistan (SECP) has proposed amendments in Income Tax Ordinance 2001 to facilitate Modaraba companies in budget, 2009-10. According to the SECP budget proposal, the relevant proviso only refers to provisions of th
Published 11 Jun, 2009 12:00am
Punjab MPA disqualified by LHC

Punjab MPA disqualified by LHC

A division bench of Lahore High Court (LHC) on Wednesday disqualified Rauf Khalid, a Pakistan People's Party member of Punjab Assembly (MPA) from Bahawalnagar, for being convicted by an accountability court.
Published 11 Jun, 2009 12:00am
LG&CD seeks Rs 9.360 billion for eight schemes

LG&CD seeks Rs 9.360 billion for eight schemes

For fiscal year 2009-10, the provincial local government and community development department (LG&CD) has demanded Rs 9.360 billion for its six ongoing and two new development schemes. Sources in the Punjab Civil Secretariat told Business Recorder
Published 11 Jun, 2009 12:00am
Corruption galore in passport offices

Corruption galore in passport offices

Some 500 visitors pass through awkward situations daily because of the hostile attitude of the staff at the passport offices here. Corruption and administrative bottlenecks, as a matter of fact, has put the whole system upside down at the passport offices
Published 11 Jun, 2009 12:00am
Security at five star hotels tightened

Security at five star hotels tightened

Security at five star hotels in the city has been tightened and private vehicles' entry into these hotels has been strictly banned. Similarly, these hotels have also set up pickets with security personnel aiming their guns at the pedestrians entering in t
Published 11 Jun, 2009 12:00am
Free medicines for public sector hospitals from next fiscal year

Free medicines for public sector hospitals from next fiscal year

In a significant move aimed at public welfare, the Punjab government is going to allocate sufficient resources, in the Punjab budget 2009-10, for the health sector to ensure the provision of free medicines in all public sector hospitals in the province, f
Published 11 Jun, 2009 12:00am
Edhi Trust to open ambulance centres in Dir, Matta, Qabal

Edhi Trust to open ambulance centres in Dir, Matta, Qabal

The Edhi Trust would open ambulance centres in Dir, Matta and Qabal. This was stated by an official of the Edhi Ambulance Service, Anwar Kazmi, here on Wednesday. He said that eminent social worker Maulana Abdus Sattar Edhi had already issued instruction
Published 11 Jun, 2009 12:00am
Traffic police fail to check tinted glass vehicle owners

Traffic police fail to check tinted glass vehicle owners

Despite the fact that Sindh Home Department had banned the use of tinted glass vehicles to control criminal activities, a large number of such vehicles are plying on city roads due to lack of check and balance.
Published 11 Jun, 2009 12:00am
Economic Survey points to poor performance of FBR

Economic Survey points to poor performance of FBR

The Economic Survey 2008-09 has said that the Federal Board of Revenue (FBR) had shown very poor performance during 2008-09, which was evident from the substantial downward adjustment of FBR tax revenue-to-GDP ratio.
Published 11 Jun, 2009 12:00am
Economic Survey points to poor performance of FBR

Economic Survey points to poor performance of FBR

The Economic Survey 2008-09 has said that the Federal Board of Revenue (FBR) had shown very poor performance during 2008-09, which was evident from the substantial downward adjustment of FBR tax revenue-to-GDP ratio.
Published 11 Jun, 2009 12:00am
Health development activities need urgent attention: Economic Survey

Health development activities need urgent attention: Economic Survey

The Health development activities in Pakistan are in sharp contrast to other countries having similar level of economic development and per capita income, Economic Survey 2008-09 says. These concerns are overdue and require an urgent attention.
Published 11 Jun, 2009 12:00am
Health development activities need urgent attention: Economic Survey

Health development activities need urgent attention: Economic Survey

The Health development activities in Pakistan are in sharp contrast to other countries having similar level of economic development and per capita income, Economic Survey 2008-09 says. These concerns are overdue and require an urgent attention.
Published 11 Jun, 2009 12:00am
Substantial fall in FDI inflows in 2008-09

Substantial fall in FDI inflows in 2008-09

Pakistan has witnessed a substantial fall in foreign direct investment (FDI) inflows in 2008-09 in line with all other developing countries. However, the case of Pakistan is exacerbated by the deteriorating security environment.
Published 11 Jun, 2009 12:00am
Supreme Court orders reinstatement of 478 employees of SSGPL

Supreme Court orders reinstatement of 478 employees of SSGPL

The Supreme Court on Wednesday ordered reinstatement of 478 employees, sacked by Sui Southern Gas Pipeline Limited (SSGPL), from the date of termination. However, the reinstated employees would not get pending salaries and allowances for the suspension pe
Published 11 Jun, 2009 12:00am
Sindh Assembly summoned on June 15

Sindh Assembly summoned on June 15

Sindh Governor, Dr Ishrat-ul-Ibad Khan, has summoned the Provincial Assembly of Sindh to meet on Monday June 15, 2009 at 5.00 pm at the Sindh Assembly Building Karachi.
Published 11 Jun, 2009 12:00am
Five die in different incidents

Five die in different incidents

Five people died in different incidents in the metropolis on Wednesday, police and witnesses said. Two people were shot dead in Sohrab Goth police limits in two separate incidents. According to police sources, Burad, 30 son of Ibrahim was killed when some
Published 11 Jun, 2009 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

There was nothing new in the Senate on Wednesday as debate on the ongoing military operation and the issue of Internally Displaced Persons (IDPs) consumed the day's proceedings. The Upper House met 25 minutes beyond schedule with Chairman Farooq H Nike an
Published 11 Jun, 2009 12:00am
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