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Print - 2010-02-05
FBR to eliminate presumptive tax regime

FBR to eliminate presumptive tax regime

The Federal Board of Revenue will take measures to eliminate presumptive tax regime (PTR) and provide free of cost electronic cash registers to retailers for documentation of their daily sales on a regular basis. Briefing the National Assembly Standing Co
Published 05 Feb, 2010 12:00am
Unavailability of funds: SCD postpones programmes

Unavailability of funds: SCD postpones programmes

Due to non-release of budgetary allocation to Sindh Culture Department (SCD), the cultural activities in the province came to a complete halt and the department postponed cultural shows and exhibitions due to lack of funds. The department could not receiv
Published 05 Feb, 2010 12:00am
Rehman Baloch case: two complainants' statements included in FIR

Rehman Baloch case: two complainants' statements included in FIR

The statements of two complainants were incorporated as First Information Report into Roznamcha (daily dairy) of PS Steel Town by SHO of the said Police Station (PS) here on Thursday in presence of Registrar of the High Court of Sindh (SHC) as per orders
Published 05 Feb, 2010 12:00am
ZTE builds first successful EVDO Rev-B Network for PTCL

ZTE builds first successful EVDO Rev-B Network for PTCL

ZTE Corporation announced successful completion of EVDO Rev-B Network in country for Pakistan Telecommunication Company Limited (PTCL), an Etisalat company) which is the biggest CDMA operator in the country. In continuation to evolution from existing tech
Published 05 Feb, 2010 12:00am
Chairman Abad lauds HBFC efforts for recovering Rs 3.5 billion in 2009

Chairman Abad lauds HBFC efforts for recovering Rs 3.5 billion in 2009

Engr. Farooq-uz-Zaman Khan, chairman of Association of Builders and Developers of Pakistan (Abad) has lauded the efforts of HBFC to recover Rs 3.5 billion in 2009. In a statement issued here on Thursday, he urged the corporation to show same progress in t
Published 05 Feb, 2010 12:00am
'CDA to plant 400,000 saplings'

'CDA to plant 400,000 saplings'

The Capital Development Authority (CDA) would plant 400,000 saplings during the Spring Tree Plantation Campaign 2010, Chairman CDA Imtiaz Inayat Elahi said on Thursday. This was decided in a meeting presided by the chairman to review the progress of Clean
Published 05 Feb, 2010 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (February 04, 2010).

Published 05 Feb, 2010 12:00am
Punjab chief minister asks PIE to speed up development plans

Punjab chief minister asks PIE to speed up development plans

Chief Minister Punjab, Mian Muhammad Shahbaz Sharif has asked Punjab Industrial Estates (PIE) management to speed up development plans in order to provide maximum jobs for industrial workers. He also stated that all efforts to be maintained to eliminate p
Published 05 Feb, 2010 12:00am
US verdict against Dr Aafia: PML-Q for sending all parties team to US

US verdict against Dr Aafia: PML-Q for sending all parties team to US

Pakistan Muslim League PML-Q Thursday called for sending an all parties delegation, possibly led by Imran Khan, to visit USA and persuade the US President Barrack Obama to reverse the wrong court verdict against Dr Aafia Siddiqui and her immediate repatri
Published 05 Feb, 2010 12:00am
Clarification

Clarification

This refers to a news item "OGDC, SNGPL misleading Ministry" carried by Business Recorder on February 1, SNGPL has mobilised its responses at site and has started execution of work after obtaining all those drawings from OGDCL which are currently n
Published 05 Feb, 2010 12:00am
PPSAS, DPIS to observe 'Students' Week' from February 8

PPSAS, DPIS to observe 'Students' Week' from February 8

Peak Private School Association Sindh (PPSAS) and Directorate of Private Institutions Sindh (DPIS) have announced to observe "Students' Week" at secondary schools' level from February 08 to February 13, 2010. The announcement was made by President PPSAS,
Published 05 Feb, 2010 12:00am
Expansion of G8 to G20 a plan to control the world: Haroon

Expansion of G8 to G20 a plan to control the world: Haroon

The expansion of G8 to G20 is a conspiracy to weaken the United Nations as there is plan to control the world by this forum. Speaking at a press conference here on Thursday, Pakistan Ambassador to the United Nations, Abdullah Hussain Haroon said it is a m
Published 05 Feb, 2010 12:00am
Zardari orders legal aid for Aafia

Zardari orders legal aid for Aafia

President Asif Ali Zardari on Thursday ordered the government to provide possible legal assistance to a scientist found guilty in the United States of trying to kill US servicemen, his office said. "President Zardari directed the government to immediately
Published 05 Feb, 2010 12:00am
WHO estimates 84 million people to die of cancer between 2005-2015

WHO estimates 84 million people to die of cancer between 2005-2015

Cancer is a leading cause of death around the world as World Health Organisation estimated that 84 million people would die of cancer between 2005 and 2015. Every year February 4th is observed as World Cancer Day. This year World Cancer Day theme is "Canc
Published 05 Feb, 2010 12:00am
'Fit & proper' criteria

'Fit & proper' criteria

The Insurance Association of Pakistan (IAP) categorically denies giving any official statement or press release to the media regarding "Fit and Proper" criteria for management of Insurance Companies. It is further stated that news items published by certa
Published 05 Feb, 2010 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (February 04, 2010).

Published 05 Feb, 2010 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (February 04, 2010).
Published 05 Feb, 2010 12:00am
Thorough search of seminaries to be held: Kaleem Imam

Thorough search of seminaries to be held: Kaleem Imam

Inspector General of Police (IGP) Islamabad Kaleem Imam has expressed the resolve to hold thorough search of the religious seminaries in Islamabad to find out if there are any people with the extremist background.
Published 05 Feb, 2010 12:00am
Islamabad Police arrest 11 suspects, seize arms, ammunition

Islamabad Police arrest 11 suspects, seize arms, ammunition

Islamabad Police arrested eleven suspects and recovered arms, ammunition and contraband from their possession, sources said here on Thursday. Islamabad Police in league with other law enforcement agencies held search operation in different parts of the ca
Published 05 Feb, 2010 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 (February 04, 2010).

Published 05 Feb, 2010 12:00am
KCCI urges UNPD to enhance procurement from Pakistan

KCCI urges UNPD to enhance procurement from Pakistan

Karachi Chamber of Commerce and Industry (KCCI) has urged the United Nations Procurement Department (UNPD) to enhance the current level of procurement from Pakistan by it. In a communiqué, President KCCI, Abdul Majid Haji Mohammad said that the statistics
Published 05 Feb, 2010 12:00am
Commander Nato calls on CoAS

Commander Nato calls on CoAS

Commander Nato Training Mission-Afghanistan Lieutenant General William B Caldwell on Thursday called on General Ashfaq Parvez Kayani, Chief of Army Staff at General Headquarters. The visiting dignitary remained with the Chief of Army Staff for some time a
Published 05 Feb, 2010 12:00am
Iran tells Gulf states not to buy 'ineffective' US missiles

Iran tells Gulf states not to buy 'ineffective' US missiles

A senior Iranian military official told Gulf states on Thursday not to squander money on US missiles, boasting that Iran can render them useless, the state news agency IRNA reported. Tehran had on Wednesday slammed plans by the United States to beef up de
Published 05 Feb, 2010 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 (February 04, 2010).

Published 05 Feb, 2010 12:00am
Wheat procurement target raised to 7.5 million tons: Gondal

Wheat procurement target raised to 7.5 million tons: Gondal

Federal Minister for Food and Agriculture Nazar Muhammad Gondal has said that the government has increased the wheat procurement target by one million tons this year and fixed it at 7.5 million tons as against 6.5 million tons of the last year. He said th
Published 05 Feb, 2010 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 (February 04, 2010).

Published 05 Feb, 2010 12:00am
Egypt''s EFG-Hermes eyeing RBS Pakistan unit

Egypt''s EFG-Hermes eyeing RBS Pakistan unit

Egypt''s No 1 bank EFG-Hermes has expressed interest in buying the operations of the Royal Bank of Scotland (RBS) in Pakistan, SBP official said on Thursday. MCB Bank had agreed in August to buy 99.37 percent of RBS Pakistan shares for about $87 million.
Published 05 Feb, 2010 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 (February 04, 2010).

Published 05 Feb, 2010 12:00am
Egypt's EFG-Hermes eyeing RBS Pakistan unit

Egypt's EFG-Hermes eyeing RBS Pakistan unit

Egypt's No 1 bank EFG-Hermes has expressed interest in buying the operations of the Royal Bank of Scotland (RBS) in Pakistan, SBP official said on Thursday. MCB Bank had agreed in August to buy 99.37 percent of RBS Pakistan shares for about $87 million. B
Published 05 Feb, 2010 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 05 Feb, 2010 12:00am
Egypt's EFG-Hermes eyeing RBS Pakistan unit

Egypt's EFG-Hermes eyeing RBS Pakistan unit

Egypt's No 1 bank EFG-Hermes has expressed interest in buying the operations of the Royal Bank of Scotland (RBS) in Pakistan, SBP official said on Thursday. MCB Bank had agreed in August to buy 99.37 percent of RBS Pakistan shares for about $87 million. B
Published 05 Feb, 2010 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 05 Feb, 2010 12:00am
14 new RPPs will not end load shedding: minister

14 new RPPs will not end load shedding: minister

The addition of 14 RPPs, generating 1,994MW electricity, will not eliminate load shedding completely, said the Federal Minister for Water and Power Raja Pervaiz Ashraf while briefing the Standing Committee on Water and Power. He further stated that the ta
Published 05 Feb, 2010 12:00am
Six more martyred ahead of Kashmir Day

Six more martyred ahead of Kashmir Day

Ahead of Kashmiri Solidarity Day, Indian troops in occupied Kashmir Thursday martyred 6 innocent Kashmiri youths while imposing curfew amid fierce clashes between the protestors and the Indian police personnel. Of those martyred, 5 youth were shot dead in
Published 05 Feb, 2010 12:00am
New York cotton

New York cotton

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

Published 05 Feb, 2010 12:00am
New York cotton

New York cotton

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

Published 05 Feb, 2010 12:00am
Corruption in purchase of Gwadar navigation channel buoys alleged

Corruption in purchase of Gwadar navigation channel buoys alleged

Transparency International Pakistan (TIP) has received a complaint wherein Gwadar Port Authority (GPA) has been accused of corruption in the award of purchase of navigation channel buoys and in the award of dredging contract for maintenance of navigation
Published 05 Feb, 2010 12:00am
Corruption in purchase of Gwadar navigation channel buoys alleged

Corruption in purchase of Gwadar navigation channel buoys alleged

Transparency International Pakistan (TIP) has received a complaint wherein Gwadar Port Authority (GPA) has been accused of corruption in the award of purchase of navigation channel buoys and in the award of dredging contract for maintenance of navigation
Published 05 Feb, 2010 12:00am
Message from Chairman Kashmir Committee

Message from Chairman Kashmir Committee

Kashmir issue is keeping hostage millions of South Asians. Billions of dollars spent by the countries of the sub continent to enhance the firepower of their war machines can be better utilized for ameliorating the lot of their peoples, whose vast majority
Published 05 Feb, 2010 12:00am
Corruption in purchase of Gwadar navigation channel buoys alleged

Corruption in purchase of Gwadar navigation channel buoys alleged

Transparency International Pakistan (TIP) has received a complaint wherein Gwadar Port Authority (GPA) has been accused of corruption in the award of purchase of navigation channel buoys and in the award of dredging contract for maintenance of navigation
Published 05 Feb, 2010 12:00am
Message from Prime Minister of Azad Jammu and Kashmir

Message from Prime Minister of Azad Jammu and Kashmir

Kashmir Solidarity Day is being observed with renewed spirit by Kashmiris living on both sides of Jammu & Kashmir and overseas along with the people of Pakistan. Today I salute the spirit of freedom of Kashmiris and the sacrifices of thousands of Kashmiri
Published 05 Feb, 2010 12:00am
Swiss exports in biggest slump since 1944

Swiss exports in biggest slump since 1944

Swiss exports in 2009 dropped by 26 billion francs (24.5 billion dollars), falling to 2006 levels, the Federal Customs Administration reported Thursday. "Against the backdrop of the global economic crisis, Swiss foreign trade in 2009 suffered the sharpest
Published 05 Feb, 2010 12:00am
Message from President of Azad Jammu and Kashmir

Message from President of Azad Jammu and Kashmir

Kashmir Solidarity Day is observed on 5th February each year across Pakistan, Azad Jammu and Kashmir and all those countries where Pakistani/Kashmiri Community lives. On this day we express solidarity with the people of occupied Kashmir in their freedom s
Published 05 Feb, 2010 12:00am
Coal washing plant to be set up at Lakhra coalfields

Coal washing plant to be set up at Lakhra coalfields

Sindh government has decided to establish the coal washing plant at Lakhra coalfields, district Jamshoro, to remove impurities and reduce import of coal after developing its good quality, Business Recorder learnt on Thursday.
Published 05 Feb, 2010 12:00am
Message from for Kashmir Affairs and Gilgit-Baltistan

Message from for Kashmir Affairs and Gilgit-Baltistan

The government and people of Pakistan fully extend their unflinching support on this day of solidarity with our Kashmiri brethren in continuous struggle for their right of self-determination.
Published 05 Feb, 2010 12:00am
London office market thaws as Blackrock gazumps

London office market thaws as Blackrock gazumps

Private equity company Blackrock Investment Management's move to gazump Macquarie Group for the lease on a swish central London office marks a turn in the thawing occupational market and bodes well for developers. Blackrock's lease on the Drapers Gardens
Published 05 Feb, 2010 12:00am
Message from Prime Minister of Pakistan

Message from Prime Minister of Pakistan

The people of Pakistan observe the Kashmir Solidarity Day on 5th February every year to demonstrate their unequivocal support for the valiant struggle of the people of Jammu and Kashmir to achieve their legitimate right to self determination in accordance
Published 05 Feb, 2010 12:00am
Foodmakers post rosy outlooks

Foodmakers post rosy outlooks

Food makers Kellogg Co and Sara Lee Corp forecast 2010 profit above analysts' estimates, but concerns about aggressive price-cutting to gain market share weighed on some stocks. Falling prices for wheat and other commodities have helped foodmakers cut pri
Published 05 Feb, 2010 12:00am
Message from President of Pakistan

Message from President of Pakistan

We observe the Kashmir Solidarity Day each year on 5th February to reiterate our political, moral and diplomatic support for the just and legitimate struggle of our Kashmiri brothers and sisters for the realization of their right to self determination.
Published 05 Feb, 2010 12:00am
Foodmakers post rosy outlooks

Foodmakers post rosy outlooks

Food makers Kellogg Co and Sara Lee Corp forecast 2010 profit above analysts' estimates, but concerns about aggressive price-cutting to gain market share weighed on some stocks. Falling prices for wheat and other commodities have helped foodmakers cut pri
Published 05 Feb, 2010 12:00am
India's corn exports to drop by 60 percent

India's corn exports to drop by 60 percent

India's corn exports could drop by 60 percent in the year to September due to a poor domestic crop, quality issues, lower global prices and good crop prospects overseas, traders and industry officials said on Thursday. Exports of corn from India, a leadin
Published 05 Feb, 2010 12:00am
Vodafone raises outlook as costs and Europe improve

Vodafone raises outlook as costs and Europe improve

Vodafone Group Plc, the world's largest mobile phone operator by revenue, raised its outlook on Thursday after posting third-quarter revenue ahead of forecasts due to cost cuts and an improving picture in Europe. Analysts said the improved trading in Euro
Published 05 Feb, 2010 12:00am
Canadian canola futures down

Canadian canola futures down

ICE Canadian canola futures ended lower on Wednesday with Chicago soy, corn and wheat, which are weighed down by big global supplies, traders said. Inter-month spreading by commercials accounts for 60 percent of volume. March-May spread traded 3,969 times
Published 05 Feb, 2010 12:00am
Vodafone raises outlook as costs and Europe improve

Vodafone raises outlook as costs and Europe improve

Vodafone Group Plc, the world's largest mobile phone operator by revenue, raised its outlook on Thursday after posting third-quarter revenue ahead of forecasts due to cost cuts and an improving picture in Europe. Analysts said the improved trading in Euro
Published 05 Feb, 2010 12:00am
Indonesia's Bulog to control sugar distribution

Indonesia's Bulog to control sugar distribution

Indonesia, Southeast Asia's biggest sugar consumer, plans to allow state procurement agency Bulog to regain control over sugar distribution to help stabilise domestic prices, the industry minister said on Thursday.
Published 05 Feb, 2010 12:00am
Equities move both ways on ISE

Equities move both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in the index. ISE Ten Index showed an increase of 43.51 points, as the Index moved from 2,285.53 to 23
Published 05 Feb, 2010 12:00am
FOB Gulf corn and soya steady amid dull demand

FOB Gulf corn and soya steady amid dull demand

US corn and soyabean export premiums at the Gulf of Mexico held mostly steady on Wednesday despite sinking futures values as demand for US supplies was dull amid bumper crops in Brazil and Argentina, traders said. Latest forecasts show increasing Brazil,
Published 05 Feb, 2010 12:00am
Equities move both ways on ISE

Equities move both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in the index. ISE Ten Index showed an increase of 43.51 points, as the Index moved from 2,285.53 to 23
Published 05 Feb, 2010 12:00am
LSE index gains 54.74 points

LSE index gains 54.74 points

Equities on Thursday registered gains across the board amid bullish sentiments on the Lahore Stock Exchange (LSE) following buying spree in the blue chips on account of reconciliation between the coalition partners in the Sindh government. The LSE-25 inde
Published 05 Feb, 2010 12:00am
Lacklustre activity seen on grain market

Lacklustre activity seen on grain market

Lacklustre condition was seen on the wholesale grain and seed market on Thursday ahead of Chelum and Kashmir Day holiday on Friday, dealers said. On the cereal side wheat government (Bardana) gained Rs 5 to Rs 2675, other commodity items did not show any
Published 05 Feb, 2010 12:00am
LSE index gains 54.74 points

LSE index gains 54.74 points

Equities on Thursday registered gains across the board amid bullish sentiments on the Lahore Stock Exchange (LSE) following buying spree in the blue chips on account of reconciliation between the coalition partners in the Sindh government. The LSE-25 inde
Published 05 Feb, 2010 12:00am
Activities at Karachi and Qasim ports

Activities at Karachi and Qasim ports

The Karachi Port handled 147,997 tonnes of cargo including 95,234 tonnes of import cargo; 52,763 tonnes of export cargo and 5,156 loaded and empty containers during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 95,234 tonnes com
Published 05 Feb, 2010 12:00am
Kashmir Solidarity Day today

Kashmir Solidarity Day today

The 'Kashmir Solidarity Day' will be observed on Friday (February 5) across the country, including Azad Jammu and Kashmir for expressing solidarity with the people of Kashmir waging a struggle for their right of self-determination for the last six decades
Published 05 Feb, 2010 12:00am
Oil cake market rates

Oil cake market rates

Bullish trend was seen on the forward cottonseed oilcake market on Thursday in process of trading, dealers said. The March contract ended that at Rs 961.70 opened with the rise of 60 paisa at Rs 962.30, dealers said. The newly May vaida which closed at Rs
Published 05 Feb, 2010 12:00am
Kashmir Solidarity Day today

Kashmir Solidarity Day today

The 'Kashmir Solidarity Day' will be observed on Friday (February 5) across the country, including Azad Jammu and Kashmir for expressing solidarity with the people of Kashmir waging a struggle for their right of self-determination for the last six decades
Published 05 Feb, 2010 12:00am
Buying improves despite rising rates on cotton market

Buying improves despite rising rates on cotton market

Speculative buying was seen on the local cotton market on Thursday as mills showed fresh interest in purchasing on perception of further rise in the prices, dealers said. The Karachi Cotton Association (KCA) official spot rate was raised by Rs 25 to Rs 4,
Published 05 Feb, 2010 12:00am
Management notice

Management notice

The offices of Business Recorder will remain closed today, (February 5), on account of Kashmir Day holiday. Arrangements have, however been made to bring out the paper and Internet Edition tomorrow, Saturday (February 6) as usual.
Published 05 Feb, 2010 12:00am
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