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Print - 2009-07-07
KSE index surges by 67.21 points

KSE index surges by 67.21 points

The Karachi share market witnessed positive trend on Monday and KSE-100 index surged by 67.21 points to close at 7,538.49 points. Trading, however, remained low and the volume at ready counter was restricted to 127.032 million shares as compared to 181.54
Published 07 Jul, 2009 12:00am
ADB, Citibank sign $1.5 billion trade finance plan for Asia

ADB, Citibank sign $1.5 billion trade finance plan for Asia

US banking giant Citi and the Asian Development Bank have agreed to jointly provide up to 1.5 billion dollars in financing to support trade in developing Asia, the ADB said Monday. Under the agreement, the two lenders "will share the risk on trade finance
Published 07 Jul, 2009 12:00am
ADB, Citibank sign $1.5 billion trade finance plan for Asia

ADB, Citibank sign $1.5 billion trade finance plan for Asia

US banking giant Citi and the Asian Development Bank have agreed to jointly provide up to 1.5 billion dollars in financing to support trade in developing Asia, the ADB said Monday. Under the agreement, the two lenders "will share the risk on trade finance
Published 07 Jul, 2009 12:00am
ADB, Citibank sign $1.5 billion trade finance plan for Asia

ADB, Citibank sign $1.5 billion trade finance plan for Asia

US banking giant Citi and the Asian Development Bank have agreed to jointly provide up to 1.5 billion dollars in financing to support trade in developing Asia, the ADB said Monday. Under the agreement, the two lenders "will share the risk on trade finance
Published 07 Jul, 2009 12:00am
Withholding tax on shares sale to go: Tarin

Withholding tax on shares sale to go: Tarin

The Advisor to Prime Minister on Finance, Shaukat Tarin, has announced to abolish withholding tax applicable on shares sale. Briefing the media after his meeting with members of Karachi Stock Exchange (KSE) here on Monday he also announced that he would a
Published 07 Jul, 2009 12:00am
Withholding tax on shares sale to go: Tarin

Withholding tax on shares sale to go: Tarin

The Advisor to Prime Minister on Finance, Shaukat Tarin, has announced to abolish withholding tax applicable on shares sale. Briefing the media after his meeting with members of Karachi Stock Exchange (KSE) here on Monday he also announced that he would a
Published 07 Jul, 2009 12:00am
Power outages from Mangla: Zardari asks Wapda chief to submit report

Power outages from Mangla: Zardari asks Wapda chief to submit report

President Asif Ali Zardari on Monday directed Water and Power Development Authority (Wapda) Chairman to submit a comprehensive report on the continued power outage from Mangla, identifying the factors responsible for this delay. The President directed the
Published 07 Jul, 2009 12:00am
Power outages from Mangla: Zardari asks Wapda chief to submit report

Power outages from Mangla: Zardari asks Wapda chief to submit report

President Asif Ali Zardari on Monday directed Water and Power Development Authority (Wapda) Chairman to submit a comprehensive report on the continued power outage from Mangla, identifying the factors responsible for this delay. The President directed the
Published 07 Jul, 2009 12:00am
Power outages from Mangla: Zardari asks Wapda chief to submit report

Power outages from Mangla: Zardari asks Wapda chief to submit report

President Asif Ali Zardari on Monday directed Water and Power Development Authority (Wapda) Chairman to submit a comprehensive report on the continued power outage from Mangla, identifying the factors responsible for this delay. The President directed the
Published 07 Jul, 2009 12:00am
Withholding tax on shares sale to go: Tarin

Withholding tax on shares sale to go: Tarin

The Advisor to Prime Minister on Finance, Shaukat Tarin, has announced to abolish withholding tax applicable on shares sale. Briefing the media after his meeting with members of Karachi Stock Exchange (KSE) here on Monday he also announced that he would a
Published 07 Jul, 2009 12:00am
Massive boost in India's defence spending

Massive boost in India's defence spending

India on Monday confirmed a huge increase in military spending and offered sweeping benefits to the police, linking the ongoing drive to ramp up national security to economic development. Finance Minister Pranab Mukherjee hiked the defence budget for the
Published 07 Jul, 2009 12:00am
Massive boost in India's defence spending

Massive boost in India's defence spending

India on Monday confirmed a huge increase in military spending and offered sweeping benefits to the police, linking the ongoing drive to ramp up national security to economic development. Finance Minister Pranab Mukherjee hiked the defence budget for the
Published 07 Jul, 2009 12:00am
Pepco clarification

Pepco clarification

Apropos a news item "Pepco admits installing inefficient plant" carried by Business Recorder on 3, July 2009, Pepco has claimed that the news item contains information that has been taken out of the context, and thus conveys an inaccurate account o
Published 07 Jul, 2009 12:00am
BRIndex30 gains 102.88 points

BRIndex30 gains 102.88 points

On Monday, the BRIndex30 opened in the positive zone, at 6,900.25, and remained there for whole of the trading time. It closed at 6,972.03 points with a net positive change of 102.88 points and percentage change of 1.50. It experienced intra-day high of 6
Published 07 Jul, 2009 12:00am
BRIndex30 gains 102.88 points

BRIndex30 gains 102.88 points

On Monday, the BRIndex30 opened in the positive zone, at 6,900.25, and remained there for whole of the trading time. It closed at 6,972.03 points with a net positive change of 102.88 points and percentage change of 1.50. It experienced intra-day high of 6
Published 07 Jul, 2009 12:00am
KSE index surges by 67.21 points

KSE index surges by 67.21 points

The Karachi share market witnessed positive trend on Monday and KSE-100 index surged by 67.21 points to close at 7,538.49 points. Trading, however, remained low and the volume at ready counter was restricted to 127.032 million shares as compared to 181.54
Published 07 Jul, 2009 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (July 06, 2009).

Published 07 Jul, 2009 12:00am
KSE index surges by 67.21 points

KSE index surges by 67.21 points

The Karachi share market witnessed positive trend on Monday and KSE-100 index surged by 67.21 points to close at 7,538.49 points. Trading, however, remained low and the volume at ready counter was restricted to 127.032 million shares as compared to 181.54
Published 07 Jul, 2009 12:00am
Taliban launch 'iron net' against Marines

Taliban launch 'iron net' against Marines

Afghanistan's insurgent Taliban movement said Monday they had launched a guerrilla operation to thwart a major assault by newly deployed US Marines on their Helmand strongholds. Operation Foladi Jal, Pashtu for "iron net", would teach the Marines "a lesso
Published 07 Jul, 2009 12:00am
Khamenei warns West as British embassy staffer freed

Khamenei warns West as British embassy staffer freed

Iranian supreme leader Ayatollah Ali Khamenei warned Western leaders against "meddling" Monday as Britain announced that all but one its embassy staff detained in Tehran have now been freed. Khameini admitted there are "differences" among Iranians followi
Published 07 Jul, 2009 12:00am
EGB to expand network in Pakistan: Waqar

EGB to expand network in Pakistan: Waqar

Federal Minister for Investment, Senator Waqar Ahmad Khan said here on Monday that there was an ample room for investment in Pakistan, particularly in Banking Sector. He was talking to Raza Jafar, Chairman Emirates Global Bank (EGB), UAE, who called on hi
Published 07 Jul, 2009 12:00am
Khamenei warns West as British embassy staffer freed

Khamenei warns West as British embassy staffer freed

Iranian supreme leader Ayatollah Ali Khamenei warned Western leaders against "meddling" Monday as Britain announced that all but one its embassy staff detained in Tehran have now been freed. Khameini admitted there are "differences" among Iranians followi
Published 07 Jul, 2009 12:00am
Indian man on death row seeks mercy

Indian man on death row seeks mercy

An Indian man condemned to death in country for spying has appealed to President Asif Ali Zardari to spare his life, his lawyer said on Monday, after the Supreme Court dismissed his petition to review the sentence. The appeal for mercy in a case being clo
Published 07 Jul, 2009 12:00am
Indian man on death row seeks mercy

Indian man on death row seeks mercy

An Indian man condemned to death in country for spying has appealed to President Asif Ali Zardari to spare his life, his lawyer said on Monday, after the Supreme Court dismissed his petition to review the sentence. The appeal for mercy in a case being clo
Published 07 Jul, 2009 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 07 Jul, 2009 12:00am
NHA plans to launch MAR system

NHA plans to launch MAR system

National Highway Authority (NHA) has planned to launch a Motorway Advisory Radio (MAR) system during current financial year 2009-10 under the public-private partnership, while the rationalisation of toll rates will also enhance NHA's revenue by around Rs
Published 07 Jul, 2009 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Monday (July 06, 2009).

Published 07 Jul, 2009 12:00am
Pepco clarification

Pepco clarification

Apropos a news item "Pepco admits installing inefficient plant" carried by Business Recorder on 3, July 2009, Pepco has claimed that the news item contains information that has been taken out of the context, and thus conveys an inaccurate account o
Published 07 Jul, 2009 12:00am
Pepco clarification

Pepco clarification

Apropos a news item "Pepco admits installing inefficient plant" carried by Business Recorder on 3, July 2009, Pepco has claimed that the news item contains information that has been taken out of the context, and thus conveys an inaccurate account o
Published 07 Jul, 2009 12:00am
Saudi denies would let Israeli jets pass for Iran attack

Saudi denies would let Israeli jets pass for Iran attack

Saudi Arabia denied on Monday a report that it has agreed to allow Israeli warplanes to fly through the kingdom's airspace to attack Iran's nuclear sites. "Of course this is not true. We don't have any kind of relationship with the Israelis," Osama Nugali
Published 07 Jul, 2009 12:00am
Bulls dominate proceedings on ISE

Bulls dominate proceedings on ISE

Bulls dominated the proceedings at Islamabad Stock Exchange (ISE) on Monday where equities showed plus sign under the lead of trend-setters amid increase in index. ISE-10 Index showed an improvement of 28.62 points, closing at 1827.65 points against 1799.
Published 07 Jul, 2009 12:00am
Bulls dominate proceedings on ISE

Bulls dominate proceedings on ISE

Bulls dominated the proceedings at Islamabad Stock Exchange (ISE) on Monday where equities showed plus sign under the lead of trend-setters amid increase in index. ISE-10 Index showed an improvement of 28.62 points, closing at 1827.65 points against 1799.
Published 07 Jul, 2009 12:00am
Bullish sentiment on LSE

Bullish sentiment on LSE

Bullish sentiment dominated on Lahore Stock Exchange on Monday where banking and fertiliser sectors led the equities upward while profit taking in oil sector restricted the market to a narrow range resulting in low trading turnover. The LSE-25 index gaine
Published 07 Jul, 2009 12:00am
Bullish sentiment on LSE

Bullish sentiment on LSE

Bullish sentiment dominated on Lahore Stock Exchange on Monday where banking and fertiliser sectors led the equities upward while profit taking in oil sector restricted the market to a narrow range resulting in low trading turnover. The LSE-25 index gaine
Published 07 Jul, 2009 12:00am
Militancy destroys tourism industry in Swat: Mohmand

Militancy destroys tourism industry in Swat: Mohmand

Director Pakistan Industrial Development Corporation (PIDC) and former president Sarhad Chamber of Commerce and Industry (SCCI), Ghulam Sarwar Khan Mohmand said that militancy had destroyed the hotelier and tourism industry in Swat.
Published 07 Jul, 2009 12:00am
Pharmacy classes at FUUAST from July 8

Pharmacy classes at FUUAST from July 8

The classes at the Faculty of Pharmacy, Federal Urdu University of Arts, Science and Technology (FUUAST) will commence from July 08. An announcement to this effect was made by the Registrar of the FUUAST here on Monday.
Published 07 Jul, 2009 12:00am
FTSE slips to two-month low

FTSE slips to two-month low

Weaker crude and metal prices sent energy stocks and miners sliding, dragging Britain's top share index down 1 percent to its lowest close in more than two months on Monday. The FTSE 100 index ended down 41.37 points at 4,194.91, its weakest close since A
Published 07 Jul, 2009 12:00am
Employees of PBTE get raise in medical allowance by five percent

Employees of PBTE get raise in medical allowance by five percent

Hitting hard on global recession, Education Minister of Punjab Mian Mujtaba Shuja-ur-Rehman has directed a 5 percent increase in medical allowance for employees of Punjab Board of Technical Education (PBTE), and has asked the PBTE Chairman to draft a summ
Published 07 Jul, 2009 12:00am
Malik Tahir allowed to continue as officiating town nazim

Malik Tahir allowed to continue as officiating town nazim

The Lahore High Court (LHC), while suspending the appointment of co-ordinator has allowed Malik Tahir Siddqiue to continue as officiating Town Nazim of Allama Iqbal Town. The court also admitted the petition for regular hearing and issued notice to DCO.
Published 07 Jul, 2009 12:00am
Police directed to maintain record of LPG dealers

Police directed to maintain record of LPG dealers

Capital City Police Officer (CCPO) has directed Lahore Police to restrict all dealers and sellers of dangerous chemical material and illegal decanting of LPG to keep complete record, particulars and a verified copy of computerised identity cards of all pu
Published 07 Jul, 2009 12:00am
Egypt to double rice export duties

Egypt to double rice export duties

Egypt's trade ministry plans to double export duties on rice to 2,000 Egyptian pounds ($358) per tonne, the daily al Mal reported on Sunday, citing a member of the country's agricultural export council. Samir al-Nagari told the financial daily Egypt's tra
Published 07 Jul, 2009 12:00am
New York cotton settles lower

New York cotton settles lower

Cotton futures closed easier on Monday on investor sales in thin business out of a holiday break, brokers said. The cotton market was shut Friday for a holiday. The new-crop December cotton contract slipped 0.68 cent to close at 60.24 cents per lb, dealin
Published 07 Jul, 2009 12:00am
Oil falls four percent

Oil falls four percent

Oil settled 4 percent lower on Monday as doubts over a potential rebound in the global economy spurred investor risk aversion. US crude settled at $64.05 a barrel, down $2.68 or 4.02 percent from Thursday's close, after touching a five-week low of $63.40.
Published 07 Jul, 2009 12:00am
Copper slides

Copper slides

Copper fell more than 3 percent to near two-week lows on Monday as the dollar strengthened and investors fretted over how long it would take major economies to overcome recession, allowing demand to recover. Copper for three-months delivery on the London
Published 07 Jul, 2009 12:00am
London sugar lower; coffee, cocoa up

London sugar lower; coffee, cocoa up

August white sugar closed $5.70 lower at $440.70 a tonne on Monday on the firm dollar, which makes dollar-denominated futures more expensive in terms of other currencies. The market touched a contract high of $465.20 per tonne on July 1.
Published 07 Jul, 2009 12:00am
US MIDDAY: sugar, cocoa dip; coffee up

US MIDDAY: sugar, cocoa dip; coffee up

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Monday. September arabica coffee contract up 0.65 cent at $1.1845 per lb at 11:10 am EDT (1510 GMT). Session range from $1.1880 to $1.1665, the lowest for the second position since M
Published 07 Jul, 2009 12:00am
Gold slips in Europe

Gold slips in Europe

Gold slid more than 1 percent on Monday as a stronger dollar dented interest in the metal as an alternative asset, with investors buying the currency as a safe store of value amid fears over the economic outlook. Strength in the US unit kept most dollar-p
Published 07 Jul, 2009 12:00am
US MIDDAY: soya dives

US MIDDAY: soya dives

Chicago Board of Trade July soyabeans continued to slide early on Monday, dipping below its 10- and 20-day moving averages, which spurred technical selling, traders said. Ideal US crop weather fuelled the weakness. July soyabeans were down 39 cents at $12
Published 07 Jul, 2009 12:00am
US MIDDAY: corn higher

US MIDDAY: corn higher

Corn futures turned higher at the Chicago Board of Trade early on Monday on some light short covering following a sharp downturn last week, traders said.
Published 07 Jul, 2009 12:00am
US MIDDAY: copper sinks

US MIDDAY: copper sinks

US copper futures tumbled to a 1-1/2 week low Monday morning as investors sought the safety of the dollar amid mounting concerns about the strength of the global economic recovery.
Published 07 Jul, 2009 12:00am
Child aid association initiates food supply for cancer patients

Child aid association initiates food supply for cancer patients

Child Aid Association (CAA), an NGO working for support and treatment of children suffering from cancer at National Institute of Child Health (NICH) is providing food supplements alongwith medicines to the young patients of cancer. Professor Nizamul Hasan
Published 07 Jul, 2009 12:00am
US MIDDAY: gold falls toward $920

US MIDDAY: gold falls toward $920

US gold futures fell toward $920 an ounce Monday as tumbling crude oil prices reinforced the view that inflation was nowhere imminent, weighing on bullion's appeal as a store of value. August gold down $7.80 to $923.20 an ounce at 10:34 am EDT (1434 GMT)
Published 07 Jul, 2009 12:00am
Sharmila for strict ban on private practice by government doctors

Sharmila for strict ban on private practice by government doctors

Advisor to Sindh Chief Minister, Sharmila Faruqui said on Monday that all doctors appointed at the government hospitals should not be allowed to work at private hospitals and stern departmental action should be taken against them if found violating the ru
Published 07 Jul, 2009 12:00am
Mirwaiz renews Lal Chowk Chalo call on May 13

Mirwaiz renews Lal Chowk Chalo call on May 13

The Chairman of All Parties Hurriyet Conference (APHC) in occupied Kashmir, Mirwaiz Umar Farooq, has renewed his Lal Chowk chalo call on Martyrs' day on July 13. According to Kashmir Media Service, Mirwaiz Umar Farooq, addressing a gathering at the 45th f
Published 07 Jul, 2009 12:00am
Steps under way to improve textile sector

Steps under way to improve textile sector

Federal government is taking a number of steps to bring a qualitative as well as quantitative improvement in textile sector, said Rana Mohammad Farooq Saeed Khan, Federal Minister for Textile Industry. Chairing a high level meeting at circuit house here o
Published 07 Jul, 2009 12:00am
Nadra reopens centres in Malakand and Buner

Nadra reopens centres in Malakand and Buner

The Nadra Swift Centres have formally started work in Dargai, Chakdara, Malakand and Buner districts. Scores of people are visiting these centres to get Computerised National Identity Cards (CNICs). A spokesman of Nadra said the people belonging to every
Published 07 Jul, 2009 12:00am
APCST chief protests against government attitude

APCST chief protests against government attitude

Chairman All Pakistan Chamber of Small Traders, Khawaja Shafiq has said that traders all over the country are protesting against the sky rocketing prices of petrol and electricity, undue burden of taxes and long hours load shedding, but unfortunately the
Published 07 Jul, 2009 12:00am
Train service from Islamabad gaining success

Train service from Islamabad gaining success

The launch of train service from the federal capital some months ago after the reopening of Islamabad Railway Station, is gaining success by the day as the residents are benefiting a lot from the service. 'On the very first day of launch of train service
Published 07 Jul, 2009 12:00am