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Print - 2009-08-29
Sindh government finalises new price list; CDGK set aside

Sindh government finalises new price list; CDGK set aside

Setting aside the CDGK, the Sindh government on Friday finalised a new price list of essential commodities in consultation with wholesalers, agreeing on five percent reduction in prices. Sindh Minister for Bureau of Supply and Prices Shoaib Bukhari approv
Published 29 Aug, 2009 12:00am
US Midwest soya bids sharply higher, corn mixed

US Midwest soya bids sharply higher, corn mixed

Spot basis bids for US soyabeans were sharply higher while corn bids were narrowly mixed on Thursday, grain dealers said. Farmer selling of both commodities was nearly non-existent, they said. Dealers continue to boost soyabean basis bids, with bids risin
Published 29 Aug, 2009 12:00am
Workers dissatisfied with PPP Balochistan president's performance

Workers dissatisfied with PPP Balochistan president's performance

Pakistan People's Party (PPP) Balochistan leaders have expressed their dissatisfaction over performance of PPP Balochistan president. Addressing a news conference at the Quetta Press Club here on Friday, PPP Balochistan leaders including Provincial Inform
Published 29 Aug, 2009 12:00am
Indian soyabean output may dip 19 percent

Indian soyabean output may dip 19 percent

India's soyabean output may drop as much as 19 percent in the new season because of failed monsoon rains, reducing soyameal export deals to a trickle, traders and industry officials said on Friday. Planting of soyabeans, India's main summer-sown oilseed c
Published 29 Aug, 2009 12:00am
General Tyre reports loss

General Tyre reports loss

General Tyre and Rubber Co of Pakistan Ltd has reported a loss after tax of Rs 109.824 million for the half year ending June 30, 2009. According to information reaching KSE here on Friday, the loss before tax stood at Rs 142.270 million during six months
Published 29 Aug, 2009 12:00am
Kenya's record tea prices to normalise with rains

Kenya's record tea prices to normalise with rains

Kenya traders expect tea prices to return to normal by the end of the year from record highs on forecasts the drought-stricken east African country will get above average rainfall soon, the head of a trade body said on Friday. Tea offered at the weekly au
Published 29 Aug, 2009 12:00am
General Tyre reports loss

General Tyre reports loss

General Tyre and Rubber Co of Pakistan Ltd has reported a loss after tax of Rs 109.824 million for the half year ending June 30, 2009. According to information reaching KSE here on Friday, the loss before tax stood at Rs 142.270 million during six months
Published 29 Aug, 2009 12:00am
Ivorian cocoa prices mixed ahead of new season

Ivorian cocoa prices mixed ahead of new season

Ivory Coast cocoa farmgate prices were mixed this week with mouldy beans and little actual buying hurting some regions but traders starting to seek beans for the new season providing some support for prices elsewhere. Top grower Ivory Coast has endured a
Published 29 Aug, 2009 12:00am
Benazir's assassination case: LHC moved for registration of FIR

Benazir's assassination case: LHC moved for registration of FIR

An application has been filed before Lahore High Court seeking registration of FIR against former president Pervez Musharraf, interior minister Rehman Malik, minister for parliamentary affairs Babar Awan and other 12 persons in Benazir's assassination cas
Published 29 Aug, 2009 12:00am
FOB Gulf soya export premiums firm; corn unchanged

FOB Gulf soya export premiums firm; corn unchanged

US soyabean export premiums at the Gulf of Mexico remained firm on Thursday, supported by tight nearby supplies and strong demand, while corn basis offers were flat with a weak tone, traders said. Wheat export premiums were about unchanged, with values ca
Published 29 Aug, 2009 12:00am
Taipei main index rises

Taipei main index rises

Taiwan stocks closed up 1.78 percent on Friday, ending a three-session losing streak, as Acer led gains after the world's No 3 PC company reported earnings in line with market estimates. The main TAIEX share index finished 119.11 points higher at 6,809.86
Published 29 Aug, 2009 12:00am
What is and isn't Islam?

What is and isn't Islam?

It is not only important to explain what Islam really is, but it is also important to make a distinction between what Islam involves, and what people have incorrectly associated with and attributed to it. What is the relation between Islam and the actions
Published 29 Aug, 2009 12:00am
Former judges file petition for review of July 31 judgement

Former judges file petition for review of July 31 judgement

Former adhoc judges of Lahore High Court (LHC) Muhammad Ahsan Bhoon and Anwarul Haq Punnu have filed petitions in the Supreme Court for review of its July 31 judgement. The petitioners contended that they were qualified to be appointed as judges of the hi
Published 29 Aug, 2009 12:00am
Democracy and sovereignty of parliaments

Democracy and sovereignty of parliaments

Democracy lovers were displeased with the Supreme Court objecting to the imposition of 'carbon' tax, terming it an intervention in the affairs of a 'sovereign' parliament. More recently, NWFP's senior minister Bashir Ahmed Bilour advised the judges to sto
Published 29 Aug, 2009 12:00am
NIB Bank earns Rs 1.04 billion net profit

NIB Bank earns Rs 1.04 billion net profit

NIB Bank has earned a consolidated profit before tax of Rs 1.5 billion and a consolidated profit after tax of Rs 1.04 billion during the first half of 2009. On a standalone basis, profit before tax for the first half of 2009 was Rs 1 billion and profit af
Published 29 Aug, 2009 12:00am
KARACHI CHRONICLE: The Zakat Collectors

KARACHI CHRONICLE: The Zakat Collectors

One expects the list of organisations asking for Zakat to grow. Hence it is not surprising that there are at least half a dozen new Zakat collectors advertising their appeal in the press. An unexpected addition to the list is the government asking for don
Published 29 Aug, 2009 12:00am
NIB Bank earns Rs 1.04 billion net profit

NIB Bank earns Rs 1.04 billion net profit

NIB Bank has earned a consolidated profit before tax of Rs 1.5 billion and a consolidated profit after tax of Rs 1.04 billion during the first half of 2009. On a standalone basis, profit before tax for the first half of 2009 was Rs 1 billion and profit af
Published 29 Aug, 2009 12:00am
Health benefits of dates

Health benefits of dates

The Holy Qur'an in a number of verses honoured the date as one of the blessings of Paradise ( the features of the date are noted in Surah Maryam). The dates today are given preference as a food not only for its delicious taste but also for its nutritious
Published 29 Aug, 2009 12:00am
Transfers and postings in FBR

Transfers and postings in FBR

The Federal Board of Revenue (FBR) has transferred and posted 2 officials of Customs & Excise Group (BS-17) with immediate effect.
Published 29 Aug, 2009 12:00am
Medals conferred Services of renowned artists eulogised

Medals conferred Services of renowned artists eulogised

On the Independence Day President Asif Ali Zardari conferred Civil Awards, 2009 on prominent personalities for their meritorious services in various fields. In the field of Art Sitar-e-Imtiaz was conferred on Muhammad Hanif Ramay (posthumously), and on Ja
Published 29 Aug, 2009 12:00am
A bright example to follow

A bright example to follow

"Perseverance, persistent hard work and most importantly, one's determination to achieve the targets they set for themselves are three main factors to achieve academic success".
Published 29 Aug, 2009 12:00am
National Assembly body dismayed over BoI's poor performance

National Assembly body dismayed over BoI's poor performance

National Assembly (NA) standing committee on investment expressed great concern over the poor performance of Board of Investment (BoI) on Friday and recommended to include members of the standing committee in meetings with investors.
Published 29 Aug, 2009 12:00am
An ideal fiscal regime - II

An ideal fiscal regime - II

To create an ideal society requires a very special mind-set, which unfortunately does not exist in Pakistan. Our planners and administrators carry a hangover of their colonial past, and are still not cognisant that we are an independent sovereign state, w
Published 29 Aug, 2009 12:00am
Government committed to end power crisis: Prime Minister

Government committed to end power crisis: Prime Minister

Prime Minister Syed Yousuf Raza Gilani on Friday reiterated government's resolve to end the prevailing power crisis, saying overcoming the present energy crisis is top priority of the government.
Published 29 Aug, 2009 12:00am
CAPITAL CULTURAL SCENE: Photography - a service

CAPITAL CULTURAL SCENE: Photography - a service

It is a story of distant past when the notion of 'art for art' was prevalent amongst art circles. People have much grown up now. In the modern time the art could only be survived if it is directly linked with the betterment of society.
Published 29 Aug, 2009 12:00am
Police fail to recover journalist's car

Police fail to recover journalist's car

The Capital City Police (CCP) Karachi has failed to recover the four-wheeler of Editor Jang Forum and member Karachi Union of Journalists (KUJ) Executive Committee Akram Khan, which was stolen from outside his house situated at Defence Phase-II, a week ag
Published 29 Aug, 2009 12:00am
SPORTS WORLD: Pakistan's prospects in ICC Champions Trophy

SPORTS WORLD: Pakistan's prospects in ICC Champions Trophy

Cricket is the game of uncertainty. Things do turn around quickly in limited-over cricket because a lot depends on how you play on that given day. Similar is the case of Pakistan team. They are at their best when playing attacking cricket. When put in a n
Published 29 Aug, 2009 12:00am
Minister condemns kidnapping of Christians

Minister condemns kidnapping of Christians

Federal Minister for Minorities Affairs, Shahbaz Bhatti while condemning the incident of kidnapping of eight Christians said that government will protect the lives and properties of minorities and not allow anyone to destabilise our country.
Published 29 Aug, 2009 12:00am
BRIDGE NOTES: The do or die finesse

BRIDGE NOTES: The do or die finesse

Finesse in bridge is widely resorted to but is equally misplaced in situations where other alternatives are left unexplored. Suffice it to say that the 'above average' player resorts to it as a last measure, having tapped all other possibilities.
Published 29 Aug, 2009 12:00am
Government to solve all problems of people at their doorsteps: minister

Government to solve all problems of people at their doorsteps: minister

The Federal Minister for Communications, Dr Arbab Alamgir Khan said on Friday the government was striving hard to solve peoples' problems at their doorsteps and expressed the strong resolve of the government to gradually overcome all issues faced to the c
Published 29 Aug, 2009 12:00am
Wattoo fears sugar crisis may deprive him of ministry

Wattoo fears sugar crisis may deprive him of ministry

Minister for Industries and Production Mian Manzoor Ahmad Wattoo fears that the sugar crisis may deprive him of the ministry; well-informed sources in the Industries Ministry told Business Recorder on Friday. According to the sources, Wattoo himsel
Published 29 Aug, 2009 12:00am
Five foreigners among seven terrorists killed: big arms cache recovered

Five foreigners among seven terrorists killed: big arms cache recovered

Security forces have killed seven terrorists, including five foreigners, arrested four while two bunkers and two hideouts were demolished. Huge cache of arms, ammunition and explosive was recovered during the ongoing operation "Rah-e-Raast" in Swat and ot
Published 29 Aug, 2009 12:00am
New York cotton

New York cotton

Thursday's closing prices of New York cotton in US cents/lb.

Published 29 Aug, 2009 12:00am
Fafen terms EC's proposals cosmetic

Fafen terms EC's proposals cosmetic

National Assembly's Standing Committee on Parliamentary Affairs has planned to arrange a session with all the stakeholders to discuss electoral reforms and 49 proposals recommended by the Election Commission of Pakistan.
Published 29 Aug, 2009 12:00am
New York cotton

New York cotton

Thursday's closing prices of New York cotton in US cents/lb.

Published 29 Aug, 2009 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 29 Aug, 2009 12:00am
'Sufficient stocks of flour, sugar available in country'

'Sufficient stocks of flour, sugar available in country'

Minister for Food and Agriculture Nazar Muhammad Gondal Friday said due to effective management and persistent supplies long queues of flour seekers have started dwindling. Talking to a private TV channel, he said sufficient stocks of flour and sugar was
Published 29 Aug, 2009 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 29 Aug, 2009 12:00am
Six killed, 11 hurt in Naseerabad armed clash

Six killed, 11 hurt in Naseerabad armed clash

At least six people were killed and 11 others wounded in an armed clash between two groups in tehsil Chethar of district Naseerabad here on Friday. According to the DSP Chethar, the entry of cattle into the fields of the rival group early Friday morning i
Published 29 Aug, 2009 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Friday (August 28, 2009).

Published 29 Aug, 2009 12:00am
Petition moved by Citi Bank: SHC summons Senior Civil Judge, ADG

Petition moved by Citi Bank: SHC summons Senior Civil Judge, ADG

The Sindh High Court (SHC) summoned Muhammad Saleem, Senior Civil Judge and Additional District and Sessions Judge (ADJ) in a constitutional petition challenging the orders issued by the judges without jurisdiction. The petitioner had challenged the order
Published 29 Aug, 2009 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Friday (August 28, 2009).

Published 29 Aug, 2009 12:00am
Bank Alfalah to issue Rs five billion TFCs

Bank Alfalah to issue Rs five billion TFCs

Bank Alfalah Ltd will issue rated, unsecured, subordinated, and listed or privately placed term finance certificates (TFCs) worth Rs 5 billion. According to financial results of the bank despatched to Karachi Stock Exchange (KSE) here on Friday, the bank
Published 29 Aug, 2009 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Friday (August 28, 2009).

Published 29 Aug, 2009 12:00am
Three injured in Kohat bomb blast

Three injured in Kohat bomb blast

Three persons sustained injuries in a remote-control bomb blast at Kohat district on Friday, police said. The IED device planted in a shopping bag went-off on Obalin road injuring Gulistan, Azmat and Samiullah Khan, who were rushed to hospital. Police hav
Published 29 Aug, 2009 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Friday (August 28, 2009).

Published 29 Aug, 2009 12:00am
'FoDP meeting not meant for getting financial support'

'FoDP meeting not meant for getting financial support'

The Friends of Democratic Pakistan (FoDP) meeting held at Istanbul, Turkey has proved successful as Pakistan achieved all its objectives especially political and strategic support from the countries. The meeting endorsed Malakand Pilot Project and agreed
Published 29 Aug, 2009 12:00am
Bank Alfalah to issue Rs five billion TFCs

Bank Alfalah to issue Rs five billion TFCs

Bank Alfalah Ltd will issue rated, unsecured, subordinated, and listed or privately placed term finance certificates (TFCs) worth Rs 5 billion. According to financial results of the bank despatched to Karachi Stock Exchange (KSE) here on Friday, the bank
Published 29 Aug, 2009 12:00am
Rs six billion development projects being completed in Cholistan

Rs six billion development projects being completed in Cholistan

Develop-ment projects worth six billion rupees are being completed in Cholistan. According to Member National Assembly (MNA) Chaudhry Saud Majid, different projects of roads, schools and water supply schemes were underway in the area, which would be compl
Published 29 Aug, 2009 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (August 28, 2009).
Published 29 Aug, 2009 12:00am
10 uplift schemes for PP-212 in Khanewal approved

10 uplift schemes for PP-212 in Khanewal approved

Chief Minister Mian Mohammad Shahbaz Sharif has approved 10 development schemes for PP-212 in Khanewal, estimated to cost Rs eight million. Member Punjab Assembly, Haji Ghulam Jafaar Sargana had presented the proposals in this connection to the Chief Mini
Published 29 Aug, 2009 12:00am
ITP's FM radio airs special Ramazan transmission

ITP's FM radio airs special Ramazan transmission

The FM Radio 92.4 of Islamabad Traffic Police has started a special Ramazan transmissions "LABBAIK RAMAZAN" in which DJs and RJs will invite prominent scholars to inform the listeners about sanctity of Ramazan. SSP Traffic Islamabad, Dr Sultan Azam Temuri
Published 29 Aug, 2009 12:00am
Plan afoot to set up village book clubs, libraries

Plan afoot to set up village book clubs, libraries

A plan is afoot to set up village book clubs and libraries across the country to inculcate the habit of reading among the youth. Sources told APP here on Friday that as many as ten village book clubs would be established initially in different parts of th
Published 29 Aug, 2009 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (August 28, 2009).

Published 29 Aug, 2009 12:00am
Heavy downpours predicted in upper Sindh

Heavy downpours predicted in upper Sindh

The met office has forecasted heavy downpours in most parts of Sindh province and its coastal areas including provincial capital Karachi and in upper regions of country during next two to three days, a private TV reported.
Published 29 Aug, 2009 12:00am
Minor issue claims man's life

Minor issue claims man's life

One person was killed while three others sustained serious injuries in a clash between two groups here at Mengalabad, Sirki Road on Friday, police said. The clash erupted on a minor issue and both the groups used sophisticated firearms against each other.
Published 29 Aug, 2009 12:00am
Jaswant's book on Quaid opens new debate over partition

Jaswant's book on Quaid opens new debate over partition

Jaswant Singh, a senior leader of India's main opposition Bharatiya Janata Party (BJP); who authored a book on the founder of Pakistan, Quaid-e-Azam Muhammad Ali Jinnah titled, -"Jinnah: India - Partition - Independence" which has opened new avenues of de
Published 29 Aug, 2009 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (August 28, 2009).

Published 29 Aug, 2009 12:00am
Naek, Jamali condemn blast on check post near Torkham

Naek, Jamali condemn blast on check post near Torkham

Acting President, Farooq H. Naek and Acting Chairman Jan Muhammad Khan Jamali have strongly condemned the suicidal bomb blast occurring near Torkham on a check post last night that had resulted in several casualties besides causing injuries to many people
Published 29 Aug, 2009 12:00am
Rs one billion new cable of KESC fails to lessen loadshedding

Rs one billion new cable of KESC fails to lessen loadshedding

Though the Karachi Electric Supply Company (KESC) claims to have laid new underground cables of 11KV at a cost of Rs 1 billion, the new installation is yet to provide benefit to the Karachiites who are still facing hours-long loadshedding due to, what the
Published 29 Aug, 2009 12:00am
Sindh chief minister's price monitoring teams take profiteers to task

Sindh chief minister's price monitoring teams take profiteers to task

A number of retailers and wholesalers were arrested for profiteering and several others were warned against for not displaying the government's price lists, as the price monitoring teams of Sindh government visited different markets of the city Friday.
Published 29 Aug, 2009 12:00am
Need for effective CSR concept in business community stressed

Need for effective CSR concept in business community stressed

Ateeq-ur-Rehman, Chairman Banking and Insurance Sub-Committee, Karachi Chamber of Commerce and Industry, has expressed the need to introduce the concept of effective CSR in the business community. He was addressing a CSR focus group meeting organised by C
Published 29 Aug, 2009 12:00am
Google, CIO Pakistan organise Lahore Tweetup

Google, CIO Pakistan organise Lahore Tweetup

The world's most powerful search engine, Google, and CIO Pakistan recently organised the Lahore Tweetup at the Hot Fuzon Café, the second its nation-wide Tweetup series. Gathering more than 140 active bloggers and microbloggers to engage in a discussion o
Published 29 Aug, 2009 12:00am
AKUH, ICI volunteers join hands on 'Hope for a Better Future'

AKUH, ICI volunteers join hands on 'Hope for a Better Future'

The children, adolescents and young adults of our country are the most important and vulnerable segment of the population. Recognising the need for promoting disease prevention and healthy lifestyle in this age group, volunteers from ICI Pakistan Limited
Published 29 Aug, 2009 12:00am
FTO issues dismissal orders to all 11 advisers

FTO issues dismissal orders to all 11 advisers

In a bid to improve the performance of the Federal Tax Ombudsman (FTO) office, the newly appointed FTO, Dr Shoaib Suddle, has issued dismiss orders to all the advisers, it was reliably learnt on Friday. Sources told Business Recorder that the FTO w
Published 29 Aug, 2009 12:00am
Action against profiteers continues

Action against profiteers continues

The Revenue Officers Thursday received fine of Rs 18, 700 from 58 shopkeepers on account of charging exorbitant prices for essential commodities. The action has been taken under Price Control and Prevention of Profiteering and Hoarding Act 1977 & Ehtram-e
Published 29 Aug, 2009 12:00am
Zulfiqar warns police to mend its attitude

Zulfiqar warns police to mend its attitude

Sindh Home Minister, Dr Zulfiqar Ali Mirza on Friday directed CCPO Karachi and RPOs of Hyderabad and Sukkur to immediately carry out a comprehensive survey of designated places in their respective regions to provide adequate security and also ensure smoot
Published 29 Aug, 2009 12:00am
Mobilink rating raised to 'B-'

Mobilink rating raised to 'B-'

The Standard and Poor's Ratings Services has raised its long-term corporate credit rating on Pakistan-based wireless service provider, Pakistan Mobile Communications Ltd (Mobilink) to 'B-' from 'CCC+'. Rashid Khan, President & CEO Mobilink said, "despite
Published 29 Aug, 2009 12:00am
Transfers and postings banned in education department

Transfers and postings banned in education department

NWFP Minister for Elementary and Secondary Education Sardar Hussain Babak banned all sorts of transfers and postings in his department with immediate effect and announced that further postings and transfers would be made in the month of July next. The dec
Published 29 Aug, 2009 12:00am
Mobilink rating raised to 'B-'

Mobilink rating raised to 'B-'

The Standard and Poor's Ratings Services has raised its long-term corporate credit rating on Pakistan-based wireless service provider, Pakistan Mobile Communications Ltd (Mobilink) to 'B-' from 'CCC+'. Rashid Khan, President & CEO Mobilink said, "despite
Published 29 Aug, 2009 12:00am
Bird flu: USAID hands over personal protective gears

Bird flu: USAID hands over personal protective gears

United States Agency for International Development (USAID) Pakistan on Friday officially handed over personal protective equipment kits costing $18,704 along with Infectious Substance Insulated Shipper to help Pakistan cope with outbreaks of bird flu.
Published 29 Aug, 2009 12:00am
General Tariq Majeed calls on Prime Minister

General Tariq Majeed calls on Prime Minister

Chairman Joint Chiefs of Staff Committee General Tariq Majeed Friday called on Prime Minister Syed Yusuf Raza Gilani and discussed with him matters relating to the situation of security in the country.
Published 29 Aug, 2009 12:00am