News Archives for Print - 2009-12-26

Art Fact: 'Tradition and Tension'

Artists through a diversity of mediums and concepts expressed the 'Tradition and Tension' of our society due to dilapidated situation of our country in a group show at Artscene Gallery recently.

Published 26 Dec, 2009 12:00am

Fit Ponting tells Pakistan to bring it on

Australian skipper Ricky Ponting urged Pakistan to bring on a bouncer war as he declared himself an almost certain starter for his 13th Boxing Day Test. Despite West Indies insisting they exploited a chink in Ponting's armour, Australia's highest Test run

Published 26 Dec, 2009 12:00am

JOC rejects Hiroshima, Nagasaki 2020 joint bid

A proposal by Hiroshima and Nagasaki to table a joint bid for the 2020 Olympics has been rejected by the Japanese Olympic Committee (JOC). The mayors of both cities were informed of the decision by Japanese Olympic boss Tsunekazu Takeda and advised to con

Published 26 Dec, 2009 12:00am

Bekele targets 3,000 metres world indoor record

Twice Olympic 10,000 metres champion Kenenisa Bekele has his sights set on setting a fourth world indoor record in Birmingham, England next year. The Ethiopian will race over 3,000 metres, the distance at which he won his only world indoor title in 2006,

Published 26 Dec, 2009 12:00am

Pietersen braced for Durban homecoming

Controversial England batsman Kevin Pietersen hopes to end his topsy-turvy 2009 by playing a match-winning role on the Kingsmead ground where he learnt his trade. The South African-born batsman, who started the year by losing the England captaincy and was

Published 26 Dec, 2009 12:00am

16 teams to vie for top honour in 12th U-14 football festival

Pakistan Football Federation (PFF) will host 12th National U-14 Festival of Football from 19th February to 4th March 2010 in the forthcoming PFF Congress. Sahiwal will defend the title who clinched the trophy of 11th edition on 6 February 2009 when Tandli

Published 26 Dec, 2009 12:00am

Pacquiao's Christmas gift to Mayweather - a lawsuit

Manny Pacquiao is ready to fight Floyd Mayweather after all, but the venue looks to be a court room rather than a boxing ring thanks to Pacquiao's Christmas gift to Mayweater - a lawsuit. In a statement from the Phillipines that came early on Christmas

Published 26 Dec, 2009 12:00am

Tanvir forced out of Australia stint

All-rounder Sohail Tanvir Friday pulled out of a contract with Australian side Victoria after doctors advised him to rest an injured knee. The 25-year-old was due to play for the Bushrangers in the Australian Twenty20 tournament, famous as the Big Bash, b

Published 26 Dec, 2009 12:00am

Attack best form of defence for injury-hit United

Sir Alex Ferguson believes attack could be the best form of defence for Manchester United as they look to get their faltering Premier League title challenge back on track at Hull on Sunday. United's defensive problems have left the reigning champions look

Published 26 Dec, 2009 12:00am

Yuan ends nearly flat

The yuan ended nearly flat against the dollar on Friday after the Chinese central bank set its daily reference rate only two pips higher, showing it is in no hurry to adjust its stable yuan policy. The People's Bank of China fixed the yuan's daily mid-poi

Published 26 Dec, 2009 12:00am

South Korean won rises

The South Korean won rose 0.7 percent against the dollar on Thursday as a pause in the US unit's rally abroad and heavy foreign purchases of local shares prompted traders to boost their bets on riskier assets. The won ended the session at 1,175.0 per doll

Published 26 Dec, 2009 12:00am

New Zealand dollar firmer

The New Zealand dollar was firmer in thin trading on Thursday, with weak data ending the US dollar's recent rally ahead of the Christmas holiday. The kiwi settled around $0.7057/67, recovering from a three-month low of $0.6972 struck on Wednesday in the w

Published 26 Dec, 2009 12:00am

Euribor three-month rate edges off record lows

Benchmark Euribor three-month lending rates edged off a record low on Thursday in holiday-thinned trading conditions. The three-month rate, traditionally the main gauge of interbank euro lending and a mix of interest rate expectations and banks' appetite

Published 26 Dec, 2009 12:00am

Canadian dollar breaks four-day rally to slip lower

The Canadian dollar ended slightly lower against the US currency on Thursday after a four-day rally, but still clocked its best level in nearly three weeks in a holiday-shortened session. The currency touched its highest level since early December at C$1.

Published 26 Dec, 2009 12:00am

Taiwan dollar ends at three-week high

The Taiwan dollar rose to a three-week closing high on Friday, pushed up by exporters buying the local currency, although some central bank intervention in holiday-thinned trade helped pare gains. Exporters pushed the Taiwan dollar up to its strongest clo

Published 26 Dec, 2009 12:00am

Russian rouble firms

The Russian rouble firmed in early official trade on Thursday to a weighted average for tomorrow settlement of 29.9292 per dollar, compared with 30.5007 in the previous session. The average weighted rate, set at a joint trading session of eight exchanges

Published 26 Dec, 2009 12:00am

South African rand steady

South Africa's rand was largely steady against the dollar on Thursday after strong gains overnight and should tread a narrow range. Johannesburg financial markets close early on Thursday ahead of the Christmas Day holiday on Friday. The rand traded at 7.6

Published 26 Dec, 2009 12:00am

US dollar falls

The dollar fell against the euro on Thursday, extending losses a day after a weak US housing report, as investors sought to lock in gains on the greenback's recent rally. The dollar's losses were limited, though, after a separate report showed a rise in U

Published 26 Dec, 2009 12:00am

Dollar mixed in Asian holiday trade

The dollar was mixed in quiet holiday trade in Asia on Friday as investors reacted calmly to the latest economic data from the United States and Japan, dealers said. The dollar was at 91.47 yen in Tokyo afternoon trade, compared with 91.46 in New York lat

Published 26 Dec, 2009 12:00am

East African currencies seen flat

The Kenyan, Ugandan and Tanzanian shillings were expected to be stable or to appreciate slightly against the dollar in the week ahead to Wednesday due to subdued activities because of the holidays, traders said.

Published 26 Dec, 2009 12:00am

Japan mired in deflation, keeping pressure on BoJ

Japan marked nine months of deflation in November with increasing signs that weak demand is hitting prices, adding to the political pressure on the Bank of Japan for further monetary easing. While the pace of falling prices slowed in the year to November

Published 26 Dec, 2009 12:00am

Dollar 'carry trade' faces risks in 2010

Borrowing the dollar cheaply to fund purchases of higher-yielding assets was a no-brainer in 2009, thanks to the Federal Reserve's repeated assurances that US interest rates would stay low "for an extended period." The "carry trade," as this strategy is k

Published 26 Dec, 2009 12:00am

Controversy over cotton yarn export continues

Powerloom owners, disappionted over the decision of the Cabinet Committee on Textile about cotton yarn export have resolved to resume their agitation after Ashura and resort to strike from January 2. After wheat, sugar, gas and power shortages, Pakistan i

Published 26 Dec, 2009 12:00am

FCCI chief calls for keeping power tariff hike in abeyance

The President FCCI said here on Thursday that the government has given another shock to the industrial and domestic electricity consumers by raising about 13% electricity tariff. In the present scenario, where the industrial community is facing multiplici

Published 26 Dec, 2009 12:00am

EU wheat futures end narrowly mixed

European wheat futures ended narrowly mixed after a shortened pre-Christmas session that saw minimal volumes as operators continued to await clearer direction in the new year. A slight fall for Chicago wheat in electronic trade, together with continued co

Published 26 Dec, 2009 12:00am

South African maize stocks fall

South Africa's maize stocks fell to 6.102 million tonnes at the end of November, compared with a revised 6.935 million tonnes in October, data showed on Wednesday, while the main maize futures closed mixed. The stocks included 3.169 million tonnes of whit

Published 26 Dec, 2009 12:00am

Activity at Karachi and Qasim Ports

The Karachi Port handled 117,438 tonnes of cargo including 78,017 tonnes of import 39,421 tonnes of export cargo and 5,778 loaded and empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 78,017 tonnes comprised 48

Published 26 Dec, 2009 12:00am

Canadian canola breaks five-day losing streak

ICE Canada canola futures closed higher on Thursday, snapping a 5-day losing streak, with routine exporter and speculator buying ahead of the market's closure for the holidays, traders said. Key March canola touched a 5-week low of $399.50 early before se

Published 26 Dec, 2009 12:00am

Data lifts Wall Street to 2009 highs

US stocks rallied in a brief pre-holiday session on Thursday, closing at 2009 highs, after data showing a drop in initial jobless claims and growth in durable goods orders suggested an economic recovery was picking up steam. Stocks racked up a fifth day o

Published 26 Dec, 2009 12:00am

Tokyo stocks tumble

Japanese stocks closed down 0.40 percent on Friday as investors took profits a day after the market hit a three-month high, dealers said. They said the latest reports on Asia's largest economy, showing a rise in the jobless rate and stubborn deflation, ha

Published 26 Dec, 2009 12:00am

US Treasury prices slip

US Treasuries finished lower on Thursday, slipping on a recipe of stronger economic data and upcoming supply blended with thin, preholiday trade. Bond trading waned as trading desks exited for a long holiday weekend. The bond market closed early at 2 pm E

Published 26 Dec, 2009 12:00am

US Treasury prices slip

US Treasuries finished lower on Thursday, slipping on a recipe of stronger economic data and upcoming supply blended with thin, preholiday trade. Bond trading waned as trading desks exited for a long holiday weekend. The bond market closed early at 2 pm E

Published 26 Dec, 2009 12:00am

Chinese shares drop

Chinese shares closed down 0.38 percent on Friday as real estate developers and banks remained weak amid concerns of possible policy tightening measures, dealers said. The Shanghai Composite Index, which covers both A and B shares, was down 12.06 points a

Published 26 Dec, 2009 12:00am

Health stock rally may extend as reform winds down

This holiday season, some of the best discounts on Wall Street may still be found in the healthcare sector. Despite a recent rally, healthcare stocks remain cheap and poised to continue their run should the cloud of health reform keep dissipating, analyst

Published 26 Dec, 2009 12:00am

Taiwan stocks finish firmer

Taiwan stocks rose 0.11 percent to a fresh 18-month closing high on Friday after the central bank kept its interest rates steady, with Nanya Tech and other memory chip makers higher on hopes of a pickup in demand. The main TAIEX share index jumped 9.05 po

Published 26 Dec, 2009 12:00am

Thai shares up

The Thai stock market rose 0.44 percent on Friday amid lacklustre trading due to seasonal holidays as overseas investors deserted the market, an analyst said. The Stock Exchange of Thailand (SET) composite index rose 3.20 points to close at 730.41 and the

Published 26 Dec, 2009 12:00am

Japan drafts record budget as Prime Minister battles scandal

Japan approved on Friday a record budget for next year that will inflate the country's already huge debt by $484 billion, as the prime minister vowed to battle on in the face of a growing scandal and sliding poll ratings. With tax revenues sliding since t

Published 26 Dec, 2009 12:00am

Toyota to recall 43,000 cars in China

Toyota Motor Corp has announced the recall of about 43,000 cars in China because a defect might cause engine oil to leak, news reports said Friday. The cars were all manufactured in Japan, the Nikkei economic daily said. The four models affected are the L

Published 26 Dec, 2009 12:00am

Ukraine has problems paying for gas: Gazprom

Russia's gas export monopoly Gazprom said on Friday Ukraine was facing difficulties with payments for its gas, news agencies quoted Gazprom's Chief Executive Alexei Miller as saying. A dispute between the two countries led to gas supplies to Europe being

Published 26 Dec, 2009 12:00am

Gas shortage spreads to north-west China

China's gas shortage has spread from southern and central parts of the country to Shaanxi province as many north-western cities were hit by a sharp temperature drop recently, Xinhua news agency reported on Friday. Daily shortages of natural gas in Xi'an,

Published 26 Dec, 2009 12:00am

Russia cuts benchmark refinancing rate to 8.75 percent

Russia's central bank in an expected decision on Friday unveiled its 10th interest rate cut of the year, with economists expecting more gradual cuts in coming months to stimulate the country's blighted economy. The central bank said it is reducing its ben

Published 26 Dec, 2009 12:00am

US, Chinese funds to take part in Rusal IPO: report

A US-British asset management giant and a Chinese sovereign wealth fund have agreed to take part in the Hong Kong IPO of the world's largest aluminium producer UC Rusal, a report said Friday. Black Rock and the China Investment Corporation (CIC) have give

Published 26 Dec, 2009 12:00am

US, Chinese funds to take part in Rusal IPO: report

A US-British asset management giant and a Chinese sovereign wealth fund have agreed to take part in the Hong Kong IPO of the world's largest aluminium producer UC Rusal, a report said Friday. Black Rock and the China Investment Corporation (CIC) have give

Published 26 Dec, 2009 12:00am

Russia sees 2010 uranium deals with US utilities

Russia's state uranium trader Techsnabexport (Tenex) will sign next year at least three deals worth around $1 billion to supply uranium directly to US utilities, Russia's state nuclear firm Rosatom said on Friday. Russia has long sought direct deals with

Published 26 Dec, 2009 12:00am

Panasonic develops more powerful battery for Evs

Panasonic Corp has developed more powerful batteries for use in everything from laptops to electric vehicles, the Japanese electronics maker said Friday. The new lithium-ion batteries are 20 percent to 30 percent more powerful than current batteries, acco

Published 26 Dec, 2009 12:00am

UN approves $5.16 billion budget for 2010-2011

The General Assembly has adopted a two-year budget of $5.16 billion to cover the United Nations' regular operations in 2010-2011. The budget is $300 million higher than the revised budget for 2008-2009 of $4.86 billion, which was approved last December. T

Published 26 Dec, 2009 12:00am

German exports set to recover from 2009 plunge

German exports are set to pick up in 2010 after plunging 18 per cent this year, a report drawn up by the nation's industry association says. The Federation of German Industry (BDI) predicts that exports from Europe's biggest economy will grow by 4 per cen

Published 26 Dec, 2009 12:00am

China revises up 2008 growth on services strength

China on Friday revised up its 2008 growth rate to 9.6 percent, taking it well above the originally reported 9.0 percent after calculating that the service sector had been more productive than previously thought. The upward revision underscored that China

Published 26 Dec, 2009 12:00am

Zimbabwe assures Nestle, asks firm to reopen: report

Zimbabwe's government has asked food giant Nestle to resume operations in the country, saying it guaranteed the operations of the firm and its staff from interference, state media reported on Friday. Nestle this week temporarily shut down its factory, cit

Published 26 Dec, 2009 12:00am

Thai Charoen Pokphand Foods raises 2010 revenue growth to 10 percent

Charoen Pokphand Foods, Thailand's biggest chicken exporter, said on Friday it aimed for 10 percent revenue growth next year from an estimated 160 billion baht ($4.80 billion) for 2009. The company had earlier aimed for 5-7 percent revenue growth for 2010

Published 26 Dec, 2009 12:00am

Thai central bank says rate rise likely next year

Thailand's key policy interest rate is likely to rise next year following expected higher inflation, a deputy Bank of Thailand governor said on Friday. "The MPC (Monetary Policy Committee) has assessed that inflation is on the rise next year. Therefore, t

Published 26 Dec, 2009 12:00am

Japan's total oil sales seen 2.6 percent

Japan's total oil product sales are expected to fall 2.6 percent in the financial year starting next April from the current fiscal year, the nation's top energy forecaster said on Friday. Gasoline sales, which account for over a fifth of the fuel used in

Published 26 Dec, 2009 12:00am

US, most Asian market closed for holidays

The United States and most of the Asian market were closed on Friday due to Christmas and New Year holidays.

Published 26 Dec, 2009 12:00am

Shanghai copper up

Shanghai copper rose nearly 1 percent on Friday, tracking a rally in London copper prices, with market sentiment buoyed by optimism about the US economic recovery and dollar weakness. Better-than-expected US data released on Thursday sparked optimism that

Published 26 Dec, 2009 12:00am

Tokyo rubber future near 15-month high

Tokyo rubber futures closed on Friday at near 15-month highs supported by firm oil prices, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange ended 1.4 yen higher at 276.3 ($3.02) yen/kg after rising earlier to an intra-day high 2

Published 26 Dec, 2009 12:00am

Nicaragua sees record 2009-10 sugarcane harvest

Nicaragua is expecting a record sugar harvest this 2009/10 season of 544,000 tonnes, 4.8 percent higher than the previous cycle, as growers try to expand production by planting new areas to fill export demand. "We have never had production as high as what

Published 26 Dec, 2009 12:00am

World market price for upland cotton

The US Agriculture Department set the prevailing world market price for upland cotton at 60.93 cents per lb, effective through December 31. The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton. The USDA also

Published 26 Dec, 2009 12:00am

Platinum, palladium jump

Platinum and palladium prices surged on Thursday after a UK firm came a step closer to launching the first US exchange-traded funds on the precious metals used for purifying auto emissions. The US Securities and Exchange Commission approved a proposed rul

Published 26 Dec, 2009 12:00am

Pre-Christmas rally lifts New York sugar

The price of raw sugar soared on Thursday to its highest level since 1981 in a thin pre-Christmas rally by investors betting the sweetener could well power to new peaks early in 2010. The key March raw sugar contract jumped to a new contract high of 27.05

Published 26 Dec, 2009 12:00am

Bureaucrats who fell victim to military impatience

In reporting the festival, organised by the Citizen Archive of Pakistan (Business Recorder: Saturday, 14 November 2009) a regular clumnist for the newspaper inadvertently misinformed readers about one of the first acts of General Ayub Khan, in the wake of

Published 26 Dec, 2009 12:00am

Of bells and minarets René Guitton

When Jerusalem was conquered in 635 AD, the second caliph Omar Ibn Al-Khattab refused to pray in the Church of the Holy Sepulchre, despite an invitation from the Christian patriarch Sophronius, for fear that his men invoke the precedent to turn the place

Published 26 Dec, 2009 12:00am

KARACHI CHRONICLE: No one can downplay elections' significance

In its five decades of existence the Karachi Press Club (KPC) is the only place in Pakistan where elections have been held without a break, even defying the ban on electioneering in all forums in the country in the dark and dastardly eleven years of Zia-u

Published 26 Dec, 2009 12:00am

Production of sales tax records: RTO Islamabad asked to withdraw notices

Legal experts and chartered accountants have requested the Regional Tax Office (RTO), Islamabad to withdraw the illegal notices of external audit issued to the registered units for production of sales tax records. Sources told Business Recorder her

Published 26 Dec, 2009 12:00am

Woman knocks down Pope at Christmas mass

A woman the Vatican described as unstable jumped over a barricade, lunged at Pope Benedict and knocked him to the floor at the start of his Christmas Eve mass in St Peter's Basilica. The 82-year-old pope was apparently not harmed and went on to finish the

Published 26 Dec, 2009 12:00am

Woman knocks down Pope at Christmas mass

A woman the Vatican described as unstable jumped over a barricade, lunged at Pope Benedict and knocked him to the floor at the start of his Christmas Eve mass in St Peter's Basilica. The 82-year-old pope was apparently not harmed and went on to finish the

Published 26 Dec, 2009 12:00am

Shading net consignment seized

Directorate General of Intelligence and Investigation (DGI&I), Federal Board of Revenue (FBR) has seized a consignment of shading net for green houses imported from China in the garb of woven fabric. Sources said that the staff of DGI&I has detained the c

Published 26 Dec, 2009 12:00am

Shading net consignment seized

Directorate General of Intelligence and Investigation (DGI&I), Federal Board of Revenue (FBR) has seized a consignment of shading net for green houses imported from China in the garb of woven fabric. Sources said that the staff of DGI&I has detained the c

Published 26 Dec, 2009 12:00am

Shading net consignment seized

Directorate General of Intelligence and Investigation (DGI&I), Federal Board of Revenue (FBR) has seized a consignment of shading net for green houses imported from China in the garb of woven fabric. Sources said that the staff of DGI&I has detained the c

Published 26 Dec, 2009 12:00am

Oil crisis in the offing

With the country in the grip of a power crisis, it has been reported that an oil crisis is ready to happen. Pakistan has five major oil refineries, with the following designed capacities: Attock Refinery Limited (ARL), 40,000 BPD, Pakistan Refinery Limite

Published 26 Dec, 2009 12:00am

Oil crisis in the offing

With the country in the grip of a power crisis, it has been reported that an oil crisis is ready to happen. Pakistan has five major oil refineries, with the following designed capacities: Attock Refinery Limited (ARL), 40,000 BPD, Pakistan Refinery Limite

Published 26 Dec, 2009 12:00am

Oil crisis in the offing

With the country in the grip of a power crisis, it has been reported that an oil crisis is ready to happen. Pakistan has five major oil refineries, with the following designed capacities: Attock Refinery Limited (ARL), 40,000 BPD, Pakistan Refinery Limite

Published 26 Dec, 2009 12:00am

July-October LSM registers 0.67 percent growth

Large Scale Manufacturing (LSM) has witnessed a marginal growth of 0.67 percent during the first four months of current fiscal year as compared to the same period of last year, according to Federal Bureau of Statistics (FBS). The growth is based on the la

Published 26 Dec, 2009 12:00am

July-October LSM registers 0.67 percent growth

Large Scale Manufacturing (LSM) has witnessed a marginal growth of 0.67 percent during the first four months of current fiscal year as compared to the same period of last year, according to Federal Bureau of Statistics (FBS). The growth is based on the la

Published 26 Dec, 2009 12:00am

July-October LSM registers 0.67 percent growth

Large Scale Manufacturing (LSM) has witnessed a marginal growth of 0.67 percent during the first four months of current fiscal year as compared to the same period of last year, according to Federal Bureau of Statistics (FBS). The growth is based on the la

Published 26 Dec, 2009 12:00am

Fresh inflow of $6.338 million foreign portfolio investment

A fresh inflow of 6.338 million dollar of foreign portfolio investment at the Karachi share market was witnessed during the week ended December 24, 2009. "The offshore investors interest seems to be reviving at the local equity market and they are coming

Published 26 Dec, 2009 12:00am

Fresh inflow of $6.338 million foreign portfolio investment

A fresh inflow of 6.338 million dollar of foreign portfolio investment at the Karachi share market was witnessed during the week ended December 24, 2009. "The offshore investors interest seems to be reviving at the local equity market and they are coming

Published 26 Dec, 2009 12:00am

Fresh inflow of $6.338 million foreign portfolio investment

A fresh inflow of 6.338 million dollar of foreign portfolio investment at the Karachi share market was witnessed during the week ended December 24, 2009. "The offshore investors interest seems to be reviving at the local equity market and they are coming

Published 26 Dec, 2009 12:00am

MoC to asks ambassador to relieve Consul General in Montreal: FBR request

The Federal Board of Revenue has requested the Ministry of Commerce to ask the ambassador in Canada to relieve the Consul General, Consulate General of Pakistan in Montreal from duty immediately, so as to complete the disciplinary proceedings pending agai

Published 26 Dec, 2009 12:00am

MoC to asks ambassador to relieve Consul General in Montreal: FBR request

The Federal Board of Revenue has requested the Ministry of Commerce to ask the ambassador in Canada to relieve the Consul General, Consulate General of Pakistan in Montreal from duty immediately, so as to complete the disciplinary proceedings pending agai

Published 26 Dec, 2009 12:00am

Commerce wing fails to achieve targets

Despite lavish spending, Domestic Commerce Wing of Ministry of Commerce has failed to achieve the targets set to boost the exports even after passing of one year due to weak management system, Business Recorder has learnt. Domestic Commerce Wing st

Published 26 Dec, 2009 12:00am

Commerce wing fails to achieve targets

Despite lavish spending, Domestic Commerce Wing of Ministry of Commerce has failed to achieve the targets set to boost the exports even after passing of one year due to weak management system, Business Recorder has learnt. Domestic Commerce Wing st

Published 26 Dec, 2009 12:00am

Commerce wing fails to achieve targets

Despite lavish spending, Domestic Commerce Wing of Ministry of Commerce has failed to achieve the targets set to boost the exports even after passing of one year due to weak management system, Business Recorder has learnt. Domestic Commerce Wing st

Published 26 Dec, 2009 12:00am

TPAS established at reformed units

The Federal Board of Revenue (FBR) has set up the Taxpayer''s Audit Monitoring System (TPAS) at the reformed units for automation of taxpayers audit and monitoring of auditors transactions/activities during composite audit of sales tax and income tax. Acc

Published 26 Dec, 2009 12:00am

TPAS established at reformed units

The Federal Board of Revenue (FBR) has set up the Taxpayer's Audit Monitoring System (TPAS) at the reformed units for automation of taxpayers audit and monitoring of auditors transactions/activities during composite audit of sales tax and income tax. Acco

Published 26 Dec, 2009 12:00am

TPAS established at reformed units

The Federal Board of Revenue (FBR) has set up the Taxpayer's Audit Monitoring System (TPAS) at the reformed units for automation of taxpayers audit and monitoring of auditors transactions/activities during composite audit of sales tax and income tax. Acco

Published 26 Dec, 2009 12:00am

Transit rules violations: FBR suggests increased penalty

The Federal Board of Revenue has proposed substantial raise in penalty on violations of transit rules under the Afghan Transit Trade Agreement (ATTA) following huge increase in volume of import under transit trade. Sources told Business Recorder he

Published 26 Dec, 2009 12:00am

Transit rules violations: FBR suggests increased penalty

The Federal Board of Revenue has proposed substantial raise in penalty on violations of transit rules under the Afghan Transit Trade Agreement (ATTA) following huge increase in volume of import under transit trade. Sources told Business Recorder he

Published 26 Dec, 2009 12:00am

Transit rules violations: FBR suggests increased penalty

The Federal Board of Revenue has proposed substantial raise in penalty on violations of transit rules under the Afghan Transit Trade Agreement (ATTA) following huge increase in volume of import under transit trade. Sources told Business Recorder he

Published 26 Dec, 2009 12:00am

Government to undo 17th Amendment soon, Gilani assures Nawaz

Prime Minister Syed Yusuf Raza Gilani has assured Pakistan Muslim League-Nawaz (PML-N) Chief Nawaz Sharif that the government would soon abolish 17th amendment. The Prime Minister telephoned Nawaz Sharif and congratulated him on his birthday and said that

Published 26 Dec, 2009 12:00am

Government to undo 17th Amendment soon, Gilani assures Nawaz

Prime Minister Syed Yusuf Raza Gilani has assured Pakistan Muslim League-Nawaz (PML-N) Chief Nawaz Sharif that the government would soon abolish 17th amendment. The Prime Minister telephoned Nawaz Sharif and congratulated him on his birthday and said that

Published 26 Dec, 2009 12:00am

Zardari pays homage to Quaid-e-Azam

President Asif Ali Zardari on Friday visited the mausoleum of the Quaid-e-Azam Mohammed Ali Jinnah to pay homage to the founder of the nation on his 133rd birth anniversary. The president was accompanied by Governor Sindh Dr Ishratul Ebad Khan, Chief Mini

Published 26 Dec, 2009 12:00am

Implementation of NRO judgement: PML-N to exert pressure on PPP-led coalition government

Pakistan Muslim League-N (PML-N) has decided to pursue the PPP-led coalition government for the implementation of the apex court verdict on controversial National Reconciliation Ordinance (NRO) in letter and spirit. Sources in the PML-N told Business R

Published 26 Dec, 2009 12:00am

Production of sales tax records: RTO Islamabad asked to withdraw notices

Legal experts and chartered accountants have requested the Regional Tax Office (RTO), Islamabad to withdraw the illegal notices of external audit issued to the registered units for production of sales tax records. Sources told Business Recorder her
Published 26 Dec, 2009 12:00am

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (December 25, 2009).

Published 26 Dec, 2009 12:00am

Bank: SILKBANK LTD - Analysis of Financial Statements Financial Year 2009-9M'09

Silk Bank (formerly Saudi Pak Commercial Bank) came into existence when a consortium of investors, comprising of Bank Muscat SAOG, Nomura European Investments Limited and International Finance Corporation signed a share purchase agreement with the Saudi P
Published 26 Dec, 2009 12:00am

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (December 25, 2009).

Published 26 Dec, 2009 12:00am

LME official prices

The following were Thursday official prices.

Published 26 Dec, 2009 12:00am

LME official plastics prices

The following were Thursday official prices.

Published 26 Dec, 2009 12:00am

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (December 25, 2009).

Published 26 Dec, 2009 12:00am

Currency	Rate
USD PKR Interbank Selling / May 9	281.75
USD PKR Interbank Buying / May 9	281.50
USD to Japanese Yen / May 9	145.37
USD to Swiss Franc / May 9	0.83
Pound Sterling to USD / May 9	1.33
Euro to USD / May 9	1.12
UK LIBOR % / May 9	4.96

Stock	Volume
S&P 500 / May 9	5,659.91
India Sensex / May 9	79,454.47
Tokyo Nikkei / May 9	37,503.33
Nasdaq / May 9	17,928.92
Hang Seng / May 9	22,867.74
FTSE 100 / May 9	8,554.80
Dow Jones / May 9	41,249.38
Germany DAX 30 / May 9	23,499.32
France CAC40 / May 9	7,743.75

Item	Value
Crude Oil USD/Barrel / May 9	61.02
Karachi Cotton PKR/37.32 KG / May 9	16,985
Gold 10 Grams PKR / May 9	300,840
Gold Spot USD/Ounce / May 9	3,324.98
Cotton US¢/pound / May 9	66.61
Petrol/Litre / May 10	252.63
Diesel/Litre / May 10	256.64

Stock	Price
First AL-Noor Mod. / May 9 First Al-Noor Modaraba(FANM)	3 ▲ 0.67 (28.76%)
Premier Insurance / May 9 Premier Insurance Limited(PINL)	5.15 ▲ 0.72 (16.25%)
Escorts Bank / May 9 Escorts Investment Bank Limited(ESBL)	5.98 ▲ 0.83 (16.12%)
Parmount Sp. / May 9 Paramount Spinning Mills Limited(PASM)	3.22 ▲ 0.41 (14.59%)
UDL International / May 9 UDL International Limited(UDLI)	7.10 ▲ 0.85 (13.6%)
Abdullah Shah / May 9 Abdullah Shah Ghazi Sugar Mills Limited(AGSML)	5.44 ▲ 0.65 (13.57%)
Chenab Ltd (Pref) / May 9 Chenab Limited (Pref)(CLCPS)	2.05 ▲ 0.23 (12.64%)
LSE Capital / May 9 LSE Capital Limited(LSECL)	4.39 ▲ 0.48 (12.28%)
Cnergyico PK / May 9 Cnergyico PK Limited(CNERGY)	6.42 ▲ 0.7 (12.24%)
D.S. Ind. Ltd. / May 9 D.S. Industries Limited(DSIL)	3.90 ▲ 0.41 (11.75%)

Stock	Price
Cyan Limited / May 9 Cyan Limited(CYAN)	27.05 ▼ -5.03 (-15.68%)
Burj Clean Energy Modaraba / May 9 Burj Clean Energy Modaraba(GEM)(GEMBCEM)	7.11 ▼ -1 (-12.33%)
Universal Ins. / May 9 The Universal Insurance Company Limited(UVIC)	8.25 ▼ -1 (-10.81%)
Sally Textile / May 9 Sally Textile Mills Limited(SLYT)	7.14 ▼ -0.86 (-10.75%)
Jubilee Spinning / May 9 Jubilee Spinning & Weaving Mills Ltd.(JUBS)	8.43 ▼ -0.95 (-10.13%)
At-Tahur Ltd. / May 9 At-Tahur Limited(PREMA)	42.57 ▼ -4.73 (-10%)
Khyber Tobacco / May 9 Khyber Tobacco Company Limited(KHTC)	342.26 ▼ -38.03 (-10%)
Dewan Mushtaq / May 9 Dewan Mushtaq Textile Mills Limited(DMTM)	9.29 ▼ -1.03 (-9.98%)
PIA Holding Co.Ltd / May 9 PIA Holding Company Limited(PIAHCLA)	12.23 ▼ -1.35 (-9.94%)
First Elite Cap.Mod / May 9 First Elite Capital Modaraba(FECM)	18.44 ▼ -2 (-9.78%)

Stock	Volume
WorldCall Telecom / May 9 Worldcall Telecom Limited(WTL)	47,087,025 ▲ 0.06
Cnergyico PK / May 9 Cnergyico PK Limited(CNERGY)	33,590,475 ▲ 0.7
Sui South Gas / May 9 Sui Southern Gas Company Limited(SSGC)	29,288,646 ▼ -1.53
B.O.Punjab / May 9 The Bank of Punjab(BOP)	18,310,598 ▲ 0.44
Pak Refinery / May 9 Pakistan Refinery Limited(PRL)	15,347,121 ▲ 0.3
PIA Holding Co.Ltd / May 9 PIA Holding Company Limited(PIAHCLA)	14,961,675 ▼ -1.35
Sui North Gas / May 9 Sui Northern Gas Pipelines Limited(SNGP)	14,847,660 ▲ 5.69
K-Electric Ltd. / May 9 K-Electric Limited(KEL)	14,463,181 ▲ 0.09
Maple Leaf Cement / May 9 Maple Leaf Cement Factory Limited(MLCF)	13,544,491 ▲ 2.45
Kohinoor Spining / May 9 Kohinoor Spinning Mills Limited(KOSM)	13,517,642 ▲ 0.05

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