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Print - 2010-01-26
New York cotton settles near eight-week low

New York cotton settles near eight-week low

Cotton futures settled on Monday near an 8-week low, dogged by another round of technical sales amid predictions that the weak tone meant lower prices yet in the days ahead, brokers said. "It's a sad puppy," said Mike Stevens, an analyst for SFS Futures i
Published 26 Jan, 2010 12:00am
Copper firms, nickel stocks hit record high

Copper firms, nickel stocks hit record high

Copper firmed on Monday, but is expected to come under pressure from US plans to rein in bank trading activities and further monetary tightening in China, the world's largest consumer of industrial metals. Traders said the softer US dollar and investors l
Published 26 Jan, 2010 12:00am
Oil rises over $75

Oil rises over $75

Oil prices rose to $75 a barrel on Monday as support from a weaker dollar, higher US stocks, and an oil spill in Texas which limited crude oil deliveries to some US refiners. Still, oil prices were still near a one-month low of $74 a barrel after having f
Published 26 Jan, 2010 12:00am
London cocoa lower; sugar and coffee up

London cocoa lower; sugar and coffee up

May cocoa on Liffe ended 15 pounds lower at 2,326 pounds on Monday, weighed by the strength of sterling. Market not far off 32-year peak of 2,356 pounds set on Thursday. March white sugar ended $6.20 higher at $753.20 a tonne. Market awaits confirmation t
Published 26 Jan, 2010 12:00am
Gold rises in Europe

Gold rises in Europe

Gold rose to around $1,100 an ounce in Europe on Monday as the dollar eased broadly, while renewed physical and safe-haven buying also helped support prices. Gold was bid at $1,096.10 an ounce by 1616 GMT, against $1,091.65 an ounce on Friday, having earl
Published 26 Jan, 2010 12:00am
US MIDDAY: sugar and coffee rise; cocoa falls

US MIDDAY: sugar and coffee rise; cocoa falls

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Monday. March arabica coffee contract rose 0.15 cent to $1.3975 per lb at 11:036 am EST (16036 GMT). Session range from $1.3855 to $1.4040. Arabica coffee turned slightly higher as t
Published 26 Jan, 2010 12:00am
US MIDDAY: soyabeans fall; wheat and corn up

US MIDDAY: soyabeans fall; wheat and corn up

Soyabean futures fell in early trading at the Chicago Board of Trade on Monday as investors sold long positions amid expectations for a large soybean crop in South America, traders said. At 9:51 am CST (1551 GMT), CBOT March soyabeans were down 7-1/2 cent
Published 26 Jan, 2010 12:00am
US MIDDAY: copper climbs

US MIDDAY: copper climbs

US copper futures extended a bounce from last week's slide to one-month lows early on Monday, but gains were held in check due to lingering worries about bank regulation in the United States and prospects for further Chinese monetary tightening measures.
Published 26 Jan, 2010 12:00am
US MIDDAY: gold soars

US MIDDAY: gold soars

US gold futures rose on Monday, rebounding from last week's sharp losses due to a dollar drop, but prices could be vulnerable to a correction due to high speculative positions. Gold for February delivery up $5.90 at $1,095.60 an ounce at 11:04 am EST (160
Published 26 Jan, 2010 12:00am
Unusual delay in rains owing to El-Nino conditions

Unusual delay in rains owing to El-Nino conditions

Unusual delay in rains owing to El- Nino phenomenon in Pacific Ocean impacted upon health and agriculture besides increasing water scarcity in the urban areas. Elaborating El-Nino condition, Director General Pakistan Meteorological Department (PMD) said t
Published 26 Jan, 2010 12:00am
Two killed as vehicles' pile up on highway

Two killed as vehicles' pile up on highway

Two persons were killed, over a dozen sustained injuries after four vehicles, including a trailer, piled up on Multan-Khanewal Highway near Qadirpur Raan, some 30 kilometres off here on Monday amidst fog. Rescue 1122 sources said the trailer GLT-5399, two
Published 26 Jan, 2010 12:00am
BP demands interest-free credit for NWFP businessmen

BP demands interest-free credit for NWFP businessmen

NWP chapter of Businessman Panel (BP) has called for disbursement of interest-free credit for the business community and charging of domestic power tariff from the industrial units for the revival of trade and industry in the province. The demand was made
Published 26 Jan, 2010 12:00am
OEC provided over 131,000 jobs so far: Managing Director

OEC provided over 131,000 jobs so far: Managing Director

Overseas Employment Corporation (OEC) an attached department of Ministry of Labour and Manpower has so far provided over 131,000 jobs in 54 different countries. Talking to APP here on Monday Managing Director of OEC, Jahangir Alam Chohan said that recentl
Published 26 Jan, 2010 12:00am
PTDC launching various projects to promote tourism

PTDC launching various projects to promote tourism

Pakistan Tourism Development Corporation (PTDC) is launching a number of tourism projects in the areas where private sector is shy to invest in addition to develop 7 Tourist Facilitation Centres at all provincial headquarters including Islamabad, AJK and
Published 26 Jan, 2010 12:00am
Cellular industry's revenue swells to Rs 212.423 billion in 2008-09

Cellular industry's revenue swells to Rs 212.423 billion in 2008-09

The cellular industry witnessed considerable growth in 2008-09, as its revenue increased from Rs 182.122 billion in the year 2007-08 to Rs 212.423 billion in the year 2008-2009 Pakistan Telecommunication Authority (PTA) in its annual report for 2008-2009
Published 26 Jan, 2010 12:00am
Puppet show mesmerises children at PNCA

Puppet show mesmerises children at PNCA

The Pakistan National Council of the Arts (PNCA) Ministry of Culture here on Monday organised a puppet show featuring folk stories, national songs and other entertaining items. The children from various educational institutions of twin cities attended the
Published 26 Jan, 2010 12:00am
Steps being taken to lessen loadshedding: Mepco chief

Steps being taken to lessen loadshedding: Mepco chief

Chief Executive Officer of Multan Electric Power Company (Mepco) Monday said that all resources were being utilised to lessen loadshedding in the country by adding more electricity in the system. Presiding over a meeting of the Mepco officers on energy cr
Published 26 Jan, 2010 12:00am
Vegetable, fruit prices up in weekly bazaars

Vegetable, fruit prices up in weekly bazaars

The prices of vegetables, fruits and other food items witnessed increase in the six weekly bazaars of Multan on Monday as compared to last week and people were found complaining about the sale of substandard items. A visit to the bazaars revealed that the
Published 26 Jan, 2010 12:00am
Government decides to start work on Bhasha, 12 other dams: minister

Government decides to start work on Bhasha, 12 other dams: minister

Federal Minister for Water and Power Raja Pervaiz Ashraf said the government had decided to start work on the Bhasha Dam and 12 other small and medium-size dams in the four provinces to meet the energy shortfall. He was addressing the 66th national genera
Published 26 Jan, 2010 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (January 25, 2010).

Published 26 Jan, 2010 12:00am
Detailed survey of railway level crossings directed

Detailed survey of railway level crossings directed

DCO Faisalabad Saeed Wahlah has directed the concerned officers to carry out detailed survey of Railway level crossing in the district and compile a complete list of the authorised unmanned and unauthorised unmanned level crossings, so that proper safety
Published 26 Jan, 2010 12:00am
Key stock and currency market movements

Key stock and currency market movements

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).

Published 26 Jan, 2010 12:00am
Committee for renovation of Iqbal Library formed

Committee for renovation of Iqbal Library formed

District Co-ordination Officer (DCO), Faisalabad, Saeed Wahlah, has constituted a committee for uplift and renovation of the historical Allama Iqbal Public Librar. The members of the committee are EDO Literacy Asif Tarar, former Principal Mian Badar Munir
Published 26 Jan, 2010 12:00am
The Weather

The Weather

The weather report on Monday (January 25, 2010) and the forecast for Tuesday (January 26, 2010).

Published 26 Jan, 2010 12:00am
Suffering from blood related diseases: 583 patients registered with HFWH

Suffering from blood related diseases: 583 patients registered with HFWH

Chairman Hamza Foundation Welfare Hospital, a welfare organisation, Ijaz Ali Khan has said that over 583 patients suffering from various blood related diseases have been registered in the organisation since December 2009. He said that majority of the regi
Published 26 Jan, 2010 12:00am
New PHP post on Gojra Road inaugurated

New PHP post on Gojra Road inaugurated

SSP Punjab Highways Patrol (PHP) Faisalabad Region has said that effective patrolling by PHP has ensured safe highways, free flow of traffic and help service to commuters in any kind of distress. He said that patrol police had made round the clock travell
Published 26 Jan, 2010 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 26 Jan, 2010 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 26 Jan, 2010 12:00am
Zardari will speak in Pushto?

Zardari will speak in Pushto?

This is in reference to recent visit to Punjab by President Asif Zardari, he met people from every walk of life and held meetings to re-organise his party workers and also to create an atmosphere of sympathy in Punjab.
Published 26 Jan, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (January 25, 2010).

Published 26 Jan, 2010 12:00am
Local shipping rates

Local shipping rates

everal letters appeared in Business Recorder but the shipping companies/agents and freight forwarders failed to explain or rebut whether or not the allegations are well founded.
Published 26 Jan, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (January 25, 2010).

Published 26 Jan, 2010 12:00am
Can Karzai's peace plan lure Taliban away from violence?

Can Karzai's peace plan lure Taliban away from violence?

The Afghan government of President Hamid Karzai has said it will present a new peace plan to the conference on Afghanistan, to be held in London later this week, aimed at offering money to Taliban fighters to renounce violence. But in a brazen move in Kab
Published 26 Jan, 2010 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (January 25, 2010).

Published 26 Jan, 2010 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Monday (January 25, 2010) and for Tuesday (January 26, 2010)
Published 26 Jan, 2010 12:00am
Of the great 'defenders' of democracy

Of the great 'defenders' of democracy

The week ending January 24 was historic, not only because the Supreme Court (SC) announced its detailed judgement in the petitions, challenging the validity of the NRO, but also because some legal 'experts' expressed their views on the 'partisan' and 'err
Published 26 Jan, 2010 12:00am
FC's parallel government

FC's parallel government

The killings of two Baloch Students Organisation-Azad (BSO-A) activists in Khuzdar, last week, couldn't come at a more desperate time. The people in Balochistan were already in a furious mood in the wake of recent action in Lyari, by the law enforcement a
Published 26 Jan, 2010 12:00am
The social cost of war against militancy

The social cost of war against militancy

While people frequently dilate on the economic costs of war against militancy, what tends to be forgotten are the social losses incurred by Pakistani society. The economic costs are easier to calculate. As President Zardari told Richard Holbrooke on his l
Published 26 Jan, 2010 12:00am
Farmers' bodies voice concern over water shortage

Farmers' bodies voice concern over water shortage

Farmers' organisations, expressing their grave concern over the shortage of water, have urged the government to avoid unnecessary long closure of canals, as it is causing a very bad impact on the coming wheat and other crops. President Kisan Board Pakista
Published 26 Jan, 2010 12:00am
USTDA team briefed on local transport sector

USTDA team briefed on local transport sector

The Lahore Chamber of Commerce and Industry (LCCI) on Monday gave an update on local transport sector to a two-member team from the US Trade Development Agency (USTDA) and sought technical and financial assistance for its upgradation. The US team comprisi
Published 26 Jan, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (January 25, 2010).

Published 26 Jan, 2010 12:00am
Reap plans 'Biryani Festival' in three Saudi cities

Reap plans 'Biryani Festival' in three Saudi cities

Rice Exporters Association of Pakistan (Reap) has planned to hold 'Biryani Festival' in three cities of Saudi Arabia next month in a bid to increase the share of Pakistani rice in Saudi market. These events will be held in Dammam, Jeddah and Madina during
Published 26 Jan, 2010 12:00am
Fehmida condoles with Javed Hashmi

Fehmida condoles with Javed Hashmi

Acting President Dr Fehmida Mirza, and Acting Speaker National Assembly Faisal Karim Kundi on Monday expressed grief and sorrow over the sad demise of brother in law of PML-N MNA Makhdoom Javed Hashmi. In their separate condolence messages to Makhdoom Jav
Published 26 Jan, 2010 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (January 25, 2010).

Published 26 Jan, 2010 12:00am
PML-N overseas secretary calls on Nawaz

PML-N overseas secretary calls on Nawaz

Pakistan Muslim League (N) Overseas central secretary General Sheikh Kaiser Mehmood called on PML-N Quaid Nawaz Sharif and presented to him report about the socio-political activities of the PML-N (Overseas) here on Monday. Sharif while appreciating the e
Published 26 Jan, 2010 12:00am
LHC issues notices to Ministry, AFP

LHC issues notices to Ministry, AFP

The Lahore High Court (LHC) here on Monday issued notices to the ministry of Sports and Culture and Association of Film Producers (AFP) for February 9, 2010, in response to a writ petition, seeking ban on exhibition of Indian films in protest to exclusion
Published 26 Jan, 2010 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Monday (January 25, 2010).

Published 26 Jan, 2010 12:00am
Dr Aafia case: LHC reserves Judgement

Dr Aafia case: LHC reserves Judgement

The Lahore High Court here on Monday reserved its judgement in connection with a petition seeking action against government for not approaching International Court of Justice (ICJ) for the release of Dr Aafia. Petitioner Barrister Javed Iqbal Jaffree subm
Published 26 Jan, 2010 12:00am
Ufone launches BlackBerry Bold 9700

Ufone launches BlackBerry Bold 9700

Over the last two years Ufone has taken the lead by ensuring they are the first to launch the most innovative pricing offers, products and always the first to launch the new generation BlackBerry handsets in Pakistan. Ufone recently launched the most adva
Published 26 Jan, 2010 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Monday (January 25, 2010).

Published 26 Jan, 2010 12:00am
'Smeda engaged in setting up of 20 tangible SME projects'

'Smeda engaged in setting up of 20 tangible SME projects'

The Small and Medium Enterprises Development Authority (Smeda) is engaged in setting up of 20 tangible SME projects at a cost of Rs 2.2 billion under the Public Sector Development Program (PSDP). The Smeda chief Shahid Rashid stated this while addressing
Published 26 Jan, 2010 12:00am
PML-N leader demands resignation of Malik

PML-N leader demands resignation of Malik

Special Assistant to the Chief Minister Punjab Malik Mohammad Afzal Khokhar MNA has asked Interior Minister Rehman Malik to tender resignation following statement of the US Secretary of Defence Robert Gates who admitted that "Black Water and Dean Corps" w
Published 26 Jan, 2010 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Monday (January 25, 2010).

Published 26 Jan, 2010 12:00am
HEC urges UVAS to offer expertise to other provinces

HEC urges UVAS to offer expertise to other provinces

Chairman, Higher Education Commission (HEC) Dr Javaid R Laghari has called upon the University of Veterinary & Animal Sciences (UVAS), Lahore, to offer its expertise in setting up more veterinary and animal sciences universities in all provinces. During a
Published 26 Jan, 2010 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Monday (January 25, 2010).

Published 26 Jan, 2010 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Monday (January 25, 2010).

Published 26 Jan, 2010 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Monday (January 25, 2010).

Published 26 Jan, 2010 12:00am
Crackdown on sugar mills likely

Crackdown on sugar mills likely

Federal government is once again flexing its muscles to start crackdown on sugar mills for selling the commodity at a much higher price than is justified by their cost of production, well-informed sources in the Industries Ministry told Business Record
Published 26 Jan, 2010 12:00am
SBP issues new 500-rupee notes

SBP issues new 500-rupee notes

All offices of SBP Banking Services Corporation have started issuing new Rs 500 banknote with an Optical Variable Ink (OVI) Feature from today (Monday). The new Rs 500 note with OVI feature bears the signature of Syed Salim Raza, Governor, State Bank of P
Published 26 Jan, 2010 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 16th January, 2010.

Published 26 Jan, 2010 12:00am
Many vying for managing director's post

Many vying for managing director's post

Federal Minister for Petroleum and Natural Resources has interviewed Najam Hayder for the post of Managing Director of Oil and Gas Development Company Limited (OGDCL), Business Recorder has learnt. Najam Hayder is believed to be the close relative
Published 26 Jan, 2010 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 16th January, 2010.

Published 26 Jan, 2010 12:00am
Call for providing: timely information on reproductive health

Call for providing: timely information on reproductive health

In dialogue of young people with religious scholars, youth have demanded timely information on sexual reproductive health and rights in educational institutes. The event was organised by Rahnuma Family Planning Association of Pakistan. Religious scholars
Published 26 Jan, 2010 12:00am
Taxi drivers fleecing passengers

Taxi drivers fleecing passengers

Taking undue advantage of the closure of CNG stations under the gas load-management measure, the taxi drivers in the twin cities of Rawalpindi and Islamabad continued overcharging the passengers. Several commuters complained that the taxi drivers were bus
Published 26 Jan, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (January 25, 2010).

Published 26 Jan, 2010 12:00am
Sindh Assembly to meet on January 27

Sindh Assembly to meet on January 27

The Secretariat of the Provincial Assembly of Sindh has announced that Governor Sindh Dr Ishrat-ul-Ebad Khan has summoned the Sindh Assembly to meet on Wednesday (tomorrow) at 10am at the Sindh Assembly Building, said an official statement issued by the g
Published 26 Jan, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (January 25, 2010).

Published 26 Jan, 2010 12:00am
Prime Minister reinstates secretary interior

Prime Minister reinstates secretary interior

Prime Minister Syed Yousuf Raza Gilani on Monday reinstated Qamar Zaman Chaudhry as Secretary Interior with immediate effect. Gilani suspended the Secretary Interior for placing Defence Minister Chaudhry Ahmed Mukhtar on the Exit Control List and stopping
Published 26 Jan, 2010 12:00am
Government urged to take notice of increase in fertiliser prices

Government urged to take notice of increase in fertiliser prices

Punjab Minister for Agriculture Malik Ahmad Ali Aulakh has urged the federal government to take immediate notice of continuous increase in the prices of fertilisers. Increase in the price of fertilisers was causing severe problems to the growers as crops
Published 26 Jan, 2010 12:00am
THE RUPEE: dollar at 86 on open market

THE RUPEE: dollar at 86 on open market

It looks that the dollar after hitting the 68 level versus the rupee on the open market on Monday, is now heading toward the new destinations, currency viewers said. On the open market the US currency gained 25 paisa against the rupee for buying and selli
Published 26 Jan, 2010 12:00am
CDA and RDA to construct Cherah Dam

CDA and RDA to construct Cherah Dam

Capital Development Authority (CDA) and Rawalpindi Development Authority (RDA) have jointly started construction of Cherah Dam costing Rs 5 billion to deal with drought-like situation in the twin cities of Rawalpindi and Islamabad. Talking to Business Rec
Published 26 Jan, 2010 12:00am
THE RUPEE: dollar at 86 on open market

THE RUPEE: dollar at 86 on open market

It looks that the dollar after hitting the 68 level versus the rupee on the open market on Monday, is now heading toward the new destinations, currency viewers said. On the open market the US currency gained 25 paisa against the rupee for buying and selli
Published 26 Jan, 2010 12:00am
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