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Print - 2009-10-16
KCCI team takes part in BPC meeting

KCCI team takes part in BPC meeting

The Karachi Chamber of Commerce & Industry's delegation comprising of its leadership and former Presidents Siraj Kassam Teli, Muhammad Zubair Motiwala, Anjum Nisar and former Senior Vice President-KCCI Muhammad Jawed Bilwani participated in the 2nd meetin
Published 16 Oct, 2009 12:00am
USAID projects in Pakistan to continue: mission director

USAID projects in Pakistan to continue: mission director

The US Agency for International Development (USAID) is exploring innovative ways to channel development funds through Pakistani government agencies and public, private and non-governmental institutions. Mission Director Bob Wilson said that USAID has no p
Published 16 Oct, 2009 12:00am
PSO's profits set to ride global oil price spike

PSO's profits set to ride global oil price spike

Pakistan State Oil seems to have found its way out of last year's financial woes. The firm is due to announce its 1QFY10 financial results on October 23, where the broad consensus among analysts predicts a bright picture. PSO is expected to post earnings
Published 16 Oct, 2009 12:00am
Growth in toxic loans slowing down

Growth in toxic loans slowing down

Provisions against bad loans in the banking sector are still growing, but at a slower pace. But what does it tell? Let's take a quick peek into recent economic history, before answering that. Right after foreign exchange reserves reversed from its upward
Published 16 Oct, 2009 12:00am
Shaheed-e-Millat's 58th anniversary today

Shaheed-e-Millat's 58th anniversary today

The nation is observing the 58th anniversary of Shaheed-i-Millat, Liaquat Ali Khan today (Friday) with solemnity, renewing the pledge to make every sacrifice to rid the country of terrorists and extremists.
Published 16 Oct, 2009 12:00am
'US wants people-friendly long-term ties with Pakistan'

'US wants people-friendly long-term ties with Pakistan'

The US desires long-term relationship based on mutual understanding with the people and not with the regimes in Pakistan and it's evident from the financial assistance under the Kerry-Lugar Bill that the funds would be spent on masses weal, said Robert Ha
Published 16 Oct, 2009 12:00am
CDC's road show on Capital Market Investment on October 17

CDC's road show on Capital Market Investment on October 17

The Central Depository Company of Pakistan Limited (CDC), in collaboration with National Investment Trust (NIT), is organising an investment and capital market 'road show' on October 17, in Lahore. According to a press release issued here on Thursday, the
Published 16 Oct, 2009 12:00am
CDC's road show on Capital Market Investment on October 17

CDC's road show on Capital Market Investment on October 17

The Central Depository Company of Pakistan Limited (CDC), in collaboration with National Investment Trust (NIT), is organising an investment and capital market 'road show' on October 17, in Lahore. According to a press release issued here on Thursday, the
Published 16 Oct, 2009 12:00am
Presentation on 'Jinnah Anthology' held

Presentation on 'Jinnah Anthology' held

A multimedia presentation on 'The Jinnah Anthology', a book, was held in collaboration of the Oxford University Press and The Jinnah Society. Compiled and edited by Liaquat Merchant and Professor Sharif al Mujahid and published by Oxford University Press,
Published 16 Oct, 2009 12:00am
Decision to keep FWBL in public sector hailed

Decision to keep FWBL in public sector hailed

President First Women Bank (FWBL) Shafquat Sultana on Thursday hailed the government decision of keeping FWBL in the public sector by de-listing it from the list of public sector entities to be privatised through Privatisation Commission of Pakistan.
Published 16 Oct, 2009 12:00am
Nine killed in various incidents

Nine killed in various incidents

Bullet-riddled bodies of three youths were found on Thursday in the jurisdiction of Ibrahim Haidri police. The youths were tortured before being killed, police said. According to the duty officer, Sub-Inspector Abdul Rehman Panhwar, the area residents had
Published 16 Oct, 2009 12:00am
New head of OGDCL external communication

New head of OGDCL external communication

Syed M Siddiq Hasan is the new Incharge of External Communication. He will look after media and Public Relations of Oil and Gas Development Company Limited (OGDCL). Prior to his new assignment, Hassan was working as the Regional Co-ordinator of OGDCL for
Published 16 Oct, 2009 12:00am
Workshop held at LTU

Workshop held at LTU

Workshop on "e-filing of returns and withholding statements" was held at Large Taxpayers Unit (LTU), Karachi, on 14 and 15 of October, 2009. About 100 representatives of prominent taxpayers of LTU, Karachi attended the workshop. Director General, LTU, Kar
Published 16 Oct, 2009 12:00am
'FTO office to redress taxpayers' complaints'

'FTO office to redress taxpayers' complaints'

The Federal Tax Ombudsman (FTO) Dr Muhammad Shoaib Suddle has said his office has put in place an enabling strategy for capacity building of its Secretariat in Islamabad as well as its regional offices in the country to efficiently and effectively redress
Published 16 Oct, 2009 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Thursday (October 15, 2009).

Published 16 Oct, 2009 12:00am
'PTDC committed to boost tourism at national and international level'

'PTDC committed to boost tourism at national and international level'

Pakistan Tourism Development Corporation (PTDC) is committed to promoting tourism not only on domestic scale, but also at international level. Managing Director of PTDC Ghulam Idrees Khan said this while addressing the meeting of newly promoted PTDC offic
Published 16 Oct, 2009 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Thursday (October 15, 2009).

Published 16 Oct, 2009 12:00am
Pakistan sixth iodine-deficient country: experts

Pakistan sixth iodine-deficient country: experts

Pakistan is rated 6th amongst the countries where iodine deficiency is a serious problem, medical experts said on Thursday. Health Professionals of Shifa College of Medicine, Shifa College of Nursing, Shifa Free Community Health Center, PMDC, IIMC, IMDC,
Published 16 Oct, 2009 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Thursday (October 15, 2009).

Published 16 Oct, 2009 12:00am
NIT to educate investors on capital market investment

NIT to educate investors on capital market investment

National Investment Trust (NIT) will provide all out support for enhancing confidence level among investors, as it is key to stabilise and improve the Capital Market in the country and the CDC road show in Lahore is a step in the same direction. This was
Published 16 Oct, 2009 12:00am
NIT to educate investors on capital market investment

NIT to educate investors on capital market investment

National Investment Trust (NIT) will provide all out support for enhancing confidence level among investors, as it is key to stabilise and improve the Capital Market in the country and the CDC road show in Lahore is a step in the same direction. This was
Published 16 Oct, 2009 12:00am
'Wide scope for enhancing Pakistan, Thailand bilateral trade'

'Wide scope for enhancing Pakistan, Thailand bilateral trade'

The ambassador-designate to Thailand, Sohail Mehmood has said that both Pakistan and Thailand have very strong credentials to expedite bilateral trade to give new strengths to their respective economies. Both the countries have good geographical locations
Published 16 Oct, 2009 12:00am
World Food Day to be observed today

World Food Day to be observed today

The Food and Agriculture Organisation (FAO) of the United Nations observe World Food Day each year on October 16, the day on which the Organisation was founded in 1945. The theme for this year WFD is "Achieving Food Security in Times of Crisis.'
Published 16 Oct, 2009 12:00am
Senate committees elect chairmen

Senate committees elect chairmen

The Senate Standing/Functional Committees on Education, Government Assurances, Minorities Affairs, Environment, Overseas Pakistanis, Population Welfare, Science and Technology, Sports and Youth Affairs, Textile Industry, Commerce and Information and Broad
Published 16 Oct, 2009 12:00am
Nazim Karachi inaugurates park in Jamshed Town

Nazim Karachi inaugurates park in Jamshed Town

City Nazim Mustafa Kamal on Thursday inaugurated Al-Murtaza Family Model Park constructed in Jamshed Town with special efforts of Town Nazim Javed Ahmed. The park has been constructed on UC-6 on 1.75 acres of land at a cost of Rs 25 million. Speaking on t
Published 16 Oct, 2009 12:00am
49th batch of ITP Driving School passes out

49th batch of ITP Driving School passes out

SSP Traffic, Dr Moeen Masood while addressing the 49th batch of ITP Driving School's students apprised them that they should always fasten seat belts and refrain from use of mobile phone during driving. A ceremony was organised in the honour of the passin
Published 16 Oct, 2009 12:00am
Two suspected suicide bombers arrested

Two suspected suicide bombers arrested

Police apprehended two suspected suicide bombers on Thursday when they raided a house in the outskirts of Islamabad, police sources said. Suicide jackets and explosives were recovered from their possession, sources said. Ages of both the suspects were bet
Published 16 Oct, 2009 12:00am
USC admits shortage of sugar at its outlets

USC admits shortage of sugar at its outlets

Utility Stores Corporation (USC) on Thursday admitted the shortage of sugar at its outlets, as the mills were not providing the commodity. The Utility Store Corporation (USC) and its top management was in negotiation with the sugar mills for the sufficien
Published 16 Oct, 2009 12:00am
Dubai World cuts global workforce by 15 percent

Dubai World cuts global workforce by 15 percent

State-controlled investment group Dubai World said on Thursday it has cut back its world-wide workforce by 15 percent to below 70,000 because of the global financial crisis. The job cuts were greatest in the United Arab Emirates itself at 25 percent becau
Published 16 Oct, 2009 12:00am
Acute shortage of urea, DAP likely

Acute shortage of urea, DAP likely

An acute shortage of urea and DAP is expected during the wheat season in Multan and its surrounding areas. According to sources, the Federal Government has failed to fulfil the demand of provinces due to which wheat crop is expected to affect badly. It is
Published 16 Oct, 2009 12:00am
US official in India to promote bilateral ties

US official in India to promote bilateral ties

US Under-Secretary of State for Political Affairs William Burns was in New Delhi Thursday to hold talks with senior Indian officials on combating terrorism in the region and promoting bilateral ties, news reports said.The US official met with Human Resour
Published 16 Oct, 2009 12:00am
Cash rewards to tax official: Market Equalisation Fund for FBR planned

Cash rewards to tax official: Market Equalisation Fund for FBR planned

The Ministry of Finance is likely to set up a "Market Equalisation Fund" for the Federal Board of Revenue (FBR) to give cash rewards to the tax officials, showing outstanding performance in surpassing revenue targets. Sources told Business Recorder </i
Published 16 Oct, 2009 12:00am
Obama, aides debate options for Afghanistan

Obama, aides debate options for Afghanistan

President Barack Obama held three hours of talks with top advisers on a new strategy for Afghanistan on Wednesday, with some aides emphasising the main threat to US interests is al Qaeda, not the Taliban. The administration's analysis of the threat posed
Published 16 Oct, 2009 12:00am
Majority of Nobel jury objected to Obama prize

Majority of Nobel jury objected to Obama prize

Three of the five members of the Norwegian Nobel Committee had objections to the Nobel Peace Prize being awarded to US President Barack Obama, the Norwegian tabloid Verdens Gang (VG) reported Thursday. "VG has spoken to a number of sources who confirmed t
Published 16 Oct, 2009 12:00am
Majority of Nobel jury objected to Obama prize

Majority of Nobel jury objected to Obama prize

Three of the five members of the Norwegian Nobel Committee had objections to the Nobel Peace Prize being awarded to US President Barack Obama, the Norwegian tabloid Verdens Gang (VG) reported Thursday. "VG has spoken to a number of sources who confirmed t
Published 16 Oct, 2009 12:00am
US drone attack kills four in North Waziristan

US drone attack kills four in North Waziristan

A suspected US drone aircraft fired two missiles at a house in Pakistan's North Waziristan region on the Afghan border on Thursday, killing four militants, intelligence officials said. The strike came as the army is preparing an offensive against Pakistan
Published 16 Oct, 2009 12:00am
US drone attack kills four in North Waziristan

US drone attack kills four in North Waziristan

A suspected US drone aircraft fired two missiles at a house in Pakistan's North Waziristan region on the Afghan border on Thursday, killing four militants, intelligence officials said. The strike came as the army is preparing an offensive against Pakistan
Published 16 Oct, 2009 12:00am
Norway plans to invest in Pakistan energy sector

Norway plans to invest in Pakistan energy sector

Norwegian Ambassador to Pakistan Robert Kvile has said Norway and Pakistan enjoy very cordial relations and these ties will further strengthen with the passage of time. Speaking to the members of the Sialkot Chamber of Commerce and Industry (SCCI) here, h
Published 16 Oct, 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 Thursday (October 15, 2009).

Published 16 Oct, 2009 12:00am
Textile sector: electricity related issues to be resolved: minister

Textile sector: electricity related issues to be resolved: minister

Federal Minister for Water and Power Raja Pervez Ashraf has said that matters relating to electricity for textile sector will be resolved on priority basis and efforts are underway to provide maximum relief in load shedding to boost this sector.
Published 16 Oct, 2009 12:00am
PCA director general told to report directly to FBR chairman

PCA director general told to report directly to FBR chairman

The Federal Board of Revenue (FBR) has directed the Director General of Post Clearance Audit (PCA), Karachi to directly report to the FBR chairman. Sources told Business Recorder here on Thursday that the FBR wanted to give full support to the PCA
Published 16 Oct, 2009 12:00am
Al-Zamin entities being merged to form investment bank

Al-Zamin entities being merged to form investment bank

Al-Zamin Leasing Modaraba and Al-Zamin Leasing Corporation are merging into Invest Capital Investment (ICI) Bank Limited to create a larger entity. According to a press release issued here on Thursday, the shareholders of all the three entities unanimousl
Published 16 Oct, 2009 12:00am
Al-Zamin entities being merged to form investment bank

Al-Zamin entities being merged to form investment bank

Al-Zamin Leasing Modaraba and Al-Zamin Leasing Corporation are merging into Invest Capital Investment (ICI) Bank Limited to create a larger entity. According to a press release issued here on Thursday, the shareholders of all the three entities unanimousl
Published 16 Oct, 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 Thursday (October 15, 2009).

Published 16 Oct, 2009 12:00am
Al-Zamin entities being merged to form investment bank

Al-Zamin entities being merged to form investment bank

Al-Zamin Leasing Modaraba and Al-Zamin Leasing Corporation are merging into Invest Capital Investment (ICI) Bank Limited to create a larger entity. According to a press release issued here on Thursday, the shareholders of all the three entities unanimousl
Published 16 Oct, 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 Thursday (October 15, 2009).

Published 16 Oct, 2009 12:00am
Al-Zamin entities being merged to form investment bank

Al-Zamin entities being merged to form investment bank

Al-Zamin Leasing Modaraba and Al-Zamin Leasing Corporation are merging into Invest Capital Investment (ICI) Bank Limited to create a larger entity. According to a press release issued here on Thursday, the shareholders of all the three entities unanimousl
Published 16 Oct, 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 Thursday (October 15, 2009).

Published 16 Oct, 2009 12:00am
Bulls strengthen position at ISE

Bulls strengthen position at ISE

Bulls strengthened their position at the Islamabad Stock Exchange (ISE) where equities showed plus signs under the lead of hot favourite with increase in the index. ISE Ten Index was plus by 37.69 points, as the Index moved from 2,293.21 to 2,330.90 point
Published 16 Oct, 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 16 Oct, 2009 12:00am
Bulls strengthen position at ISE

Bulls strengthen position at ISE

Bulls strengthened their position at the Islamabad Stock Exchange (ISE) where equities showed plus signs under the lead of hot favourite with increase in the index. ISE Ten Index was plus by 37.69 points, as the Index moved from 2,293.21 to 2,330.90 point
Published 16 Oct, 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 16 Oct, 2009 12:00am
Mixed sentiments prevail on LSE

Mixed sentiments prevail on LSE

Mixed sentiments prevailed on the Lahore Stock Exchange (LSE) on Thursday where equities ended in red zone amid reduced transaction volume on account of terrorist attacks on different places in the provincial metropolis. The LSE-25 index moved up by 21.28
Published 16 Oct, 2009 12:00am
Mixed sentiments prevail on LSE

Mixed sentiments prevail on LSE

Mixed sentiments prevailed on the Lahore Stock Exchange (LSE) on Thursday where equities ended in red zone amid reduced transaction volume on account of terrorist attacks on different places in the provincial metropolis. The LSE-25 index moved up by 21.28
Published 16 Oct, 2009 12:00am
New York cotton

New York cotton

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

Published 16 Oct, 2009 12:00am
Net hydel profit: Gilani supports Punjab government

Net hydel profit: Gilani supports Punjab government

Prime Minister Yousuf Raza Gilani has reportedly supported the Punjab government in getting the much delayed Net Hydel Profit (NHP) after the Chief Minister wrote a very strongly worded letter to him, official sources told Business Recorder.
Published 16 Oct, 2009 12:00am
New York cotton

New York cotton

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

Published 16 Oct, 2009 12:00am
Net hydel profit: Gilani supports Punjab government

Net hydel profit: Gilani supports Punjab government

Prime Minister Yousuf Raza Gilani has reportedly supported the Punjab government in getting the much delayed Net Hydel Profit (NHP) after the Chief Minister wrote a very strongly worded letter to him, official sources told Business Recorder.
Published 16 Oct, 2009 12:00am
Net hydel profit: Gilani supports Punjab government

Net hydel profit: Gilani supports Punjab government

Prime Minister Yousuf Raza Gilani has reportedly supported the Punjab government in getting the much delayed Net Hydel Profit (NHP) after the Chief Minister wrote a very strongly worded letter to him, official sources told Business Recorder.
Published 16 Oct, 2009 12:00am
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