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Print - 2010-03-13
'Audit helps enhance economic growth'

'Audit helps enhance economic growth'

The Additional Auditor General of Pakistan Asif Usman Khan has said that presently the demand for accountability, transparency in government transactions and optimal performance has re-emphasised the performance auditing techniques to achieve the desired
Published 13 Mar, 2010 12:00am
AJK, Gilgit-Baltistan will have to adopt VAT law: Sohail

AJK, Gilgit-Baltistan will have to adopt VAT law: Sohail

The government of Azad Jammu and Kashmir (AJK) and the autonomous Assembly of Gilgit-Baltistan would also have to adopt the proposed Federal Value Added Tax (VAT) Act 2010 to make the business units/retailers in these regions operate under the VAT regime
Published 13 Mar, 2010 12:00am
Zardari announces grant, setting up of housing colonies for lawyers

Zardari announces grant, setting up of housing colonies for lawyers

President Asif Ali Zardari has announced a grant of 20 million rupees for the office building of Sindh Bar Council besides setting up of "Benazir Housing Colonies" for lawyers in all districts of Sindh on state lands and soft loans from HBFC. The Presiden
Published 13 Mar, 2010 12:00am
Zardari office case: LHC Chief Justice forms new bench

Zardari office case: LHC Chief Justice forms new bench

Lahore High Court Chief Justice Khawaja Muhammad Sharif on Friday reconstituted a five-member full bench to hear two constitutional petitions challenging holding of office of President of Pakistan and co-chairman of Pakistan People's Party by Asif Ali Zar
Published 13 Mar, 2010 12:00am
CCP open hearing

CCP open hearing

The Competition Commission of Pakistan (CCP) will hold an open hearing on "Wheat Shortages and Subsequent Increase in its Prices," here on March 15. The Commission sources told APP here Friday the CCP intended to hear views of the general public and all s
Published 13 Mar, 2010 12:00am
Lawyer's murder: LHC gives more time to police

Lawyer's murder: LHC gives more time to police

Chief Justice of Lahore High Court (LHC) Khawaja Muhammad Sharif gave more time to police to arrest the remaining culprits for murder of a lawyer Muhammad Nasir, his brother and a cousin of Ludhar Pind, Lahore. On Friday, SP Cantt (investigation) appeared
Published 13 Mar, 2010 12:00am
Bailable warrants for arrests of bank president, others issued

Bailable warrants for arrests of bank president, others issued

The Lahore High Court (LHC) here on Friday issued bailable arrest warrants of President, General Manager and Branch Manager of United Bank Limited (UBL) on a contempt application. The court issued the warrants on a contempt application moved by Rehana Jab
Published 13 Mar, 2010 12:00am
Opposition slams government over bad law and order

Opposition slams government over bad law and order

Opposition lawmakers in the National Assembly on Friday flayed the government for the worst law and order situation, as what it said the people were being easily targeted by terrorists and govt was not ensuring public safety. They were commenting on an ad
Published 13 Mar, 2010 12:00am
Nato needs anti-missile defence system

Nato needs anti-missile defence system

Nato needs to develop an anti-missile defence system with future nuclear and missile threats not always likely to come from only governments or even "rational actors", the alliance chief said Friday. "We must develop an effective missile defence," Nato Se
Published 13 Mar, 2010 12:00am
$657 million deal for Ground Zero workers

$657 million deal for Ground Zero workers

More than 10,000 people who worked in the toxic chaos of New York's Ground Zero after 9/11 could receive compensation totalling 657 million dollars for health problems under a deal reached Thursday. Thousands of plaintiffs, mostly fire-fighters, police an
Published 13 Mar, 2010 12:00am
City mourns 'target killings' of Ulema: strike call for today

City mourns 'target killings' of Ulema: strike call for today

The city, fearing a backlash, remained in a constant grip of fear on Friday as fresh spree of what the police believe "target killings" of the religious scholars has hit the metropolis. Further, the politico-religious parties in the city have announced to
Published 13 Mar, 2010 12:00am
City mourns 'target killings' of Ulema: strike call for today

City mourns 'target killings' of Ulema: strike call for today

The city, fearing a backlash, remained in a constant grip of fear on Friday as fresh spree of what the police believe "target killings" of the religious scholars has hit the metropolis. Further, the politico-religious parties in the city have announced to
Published 13 Mar, 2010 12:00am
KPT to provide provisional parking lots for oil tankers: Ghori

KPT to provide provisional parking lots for oil tankers: Ghori

Karachi Port Trust (KPT) would provide provisional parking lots to Oil Tankers in Port area whereas a permanent parking for tankers have already been allotted in Zulfiqarabad. In an interview with a private news channel, Federal Minister for Ports and Shi
Published 13 Mar, 2010 12:00am
Threats of terror attacks: FIA removes signboards from office gates

Threats of terror attacks: FIA removes signboards from office gates

Different circles of the Federal Investigation Agency (FIA) have removed the official sign boards from their main gates due to, what sources said, threats of terror attacks by militant groups. During a brief visit of the various investigation circles, off
Published 13 Mar, 2010 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (March 12, 2010).

Published 13 Mar, 2010 12:00am
Fed emergency loans decline in past week

Fed emergency loans decline in past week

US banks borrowed less from the Federal Reserve's emergency lending program over the past week, providing further evidence that the strains caused by the financial crisis are easing. The Fed reported that daily borrowing from its emergency loan program av
Published 13 Mar, 2010 12:00am
CF finally nabs Terra after Yara walks

CF finally nabs Terra after Yara walks

Fertiliser maker CF Industries Holdings Inc on Friday agreed to buy rival Terra Industries Inc for more than $4.6 billion in cash and stock after Norwegian rival Yara International ASA decided not to raise its offer for Terra. The deal ends a wild, length
Published 13 Mar, 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 59.82 points, as the Index moved from 2,419.27 to 2,
Published 13 Mar, 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 59.82 points, as the Index moved from 2,419.27 to 2,
Published 13 Mar, 2010 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (March 12, 2010).

Published 13 Mar, 2010 12:00am
LSE index gains 80.50 points

LSE index gains 80.50 points

Oil sector led the equities upward amid bullish sentiments on the Lahore Stock Exchange (LSE) on Friday on account of the investors' interest who stayed on buying course throughout the day. The LSE-25 index jumped to 3189.12 against 3108.62 of Thursday, s
Published 13 Mar, 2010 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (March 12, 2010).
Published 13 Mar, 2010 12:00am
LSE index gains 80.50 points

LSE index gains 80.50 points

Oil sector led the equities upward amid bullish sentiments on the Lahore Stock Exchange (LSE) on Friday on account of the investors' interest who stayed on buying course throughout the day. The LSE-25 index jumped to 3189.12 against 3108.62 of Thursday, s
Published 13 Mar, 2010 12:00am
LNG supply contract: Ministry puts Vitol/FF''s proposal on ice

LNG supply contract: Ministry puts Vitol/FF''s proposal on ice

The Ministry of Petroleum and Natural Resources has placed on ice the joint proposal of the Vitol/Fauji Foundation for annual LNG supply of 3.5 million tons contract under ''LNG Mashal Project'' despite an offer of the lowest price, saying that they had s
Published 13 Mar, 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 Friday (March 12, 2010).

Published 13 Mar, 2010 12:00am
LNG supply contract: Ministry puts Vitol/FF's proposal on ice

LNG supply contract: Ministry puts Vitol/FF's proposal on ice

The Ministry of Petroleum and Natural Resources has placed on ice the joint proposal of the Vitol/Fauji Foundation for annual LNG supply of 3.5 million tons contract under 'LNG Mashal Project' despite an offer of the lowest price, saying that they had sub
Published 13 Mar, 2010 12:00am
LNG supply contract: Ministry puts Vitol/FF's proposal on ice

LNG supply contract: Ministry puts Vitol/FF's proposal on ice

The Ministry of Petroleum and Natural Resources has placed on ice the joint proposal of the Vitol/Fauji Foundation for annual LNG supply of 3.5 million tons contract under 'LNG Mashal Project' despite an offer of the lowest price, saying that they had sub
Published 13 Mar, 2010 12:00am
Swiss case: Supreme Court asks NAB to protect evidence

Swiss case: Supreme Court asks NAB to protect evidence

The Supreme Court on Friday directed National Accountability Bureau (NAB) to get custody and protect record and evidence of Swiss case, which the court feared may have been 'tampered with'. The court referred to some media reports detailing efforts to tam
Published 13 Mar, 2010 12:00am
Swiss case: Supreme Court asks NAB to protect evidence

Swiss case: Supreme Court asks NAB to protect evidence

The Supreme Court on Friday directed National Accountability Bureau (NAB) to get custody and protect record and evidence of Swiss case, which the court feared may have been 'tampered with'. The court referred to some media reports detailing efforts to tam
Published 13 Mar, 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 Friday (March 12, 2010).

Published 13 Mar, 2010 12:00am
BRIndex 30 gains 111.73 points

BRIndex 30 gains 111.73 points

On Friday, the BRIndex 30 opened at 8,658.34 points and remained in positive for most of the market time with a slight drop in the second session touching the intraday low of 8,617.05 points. It recovered soon afterwards and touched intra-day high of 8,78
Published 13 Mar, 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 Friday (March 12, 2010).

Published 13 Mar, 2010 12:00am
BRIndex 30 gains 111.73 points

BRIndex 30 gains 111.73 points

On Friday, the BRIndex 30 opened at 8,658.34 points and remained in positive for most of the market time with a slight drop in the second session touching the intraday low of 8,617.05 points. It recovered soon afterwards and touched intra-day high of 8,78
Published 13 Mar, 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 Friday (March 12, 2010).

Published 13 Mar, 2010 12:00am
Index touches 17-month high

Index touches 17-month high

Bullish trend continued at the share market on Friday and the KSE-100 index closed above 10,000 points level after 17 months, mainly on the back of strong foreign investors'' interest. After opening on a positive note, the index hit 10,039.76 points intra
Published 13 Mar, 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 13 Mar, 2010 12:00am
Index touches 17-month high

Index touches 17-month high

Bullish trend continued at the share market on Friday and the KSE-100 index closed above 10,000 points level after 17 months, mainly on the back of strong foreign investors' interest. After opening on a positive note, the index hit 10,039.76 points intra-
Published 13 Mar, 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 13 Mar, 2010 12:00am
Index touches 17-month high

Index touches 17-month high

Bullish trend continued at the share market on Friday and the KSE-100 index closed above 10,000 points level after 17 months, mainly on the back of strong foreign investors' interest. After opening on a positive note, the index hit 10,039.76 points intra-
Published 13 Mar, 2010 12:00am
Three steel products ITP raised

Three steel products ITP raised

Pakistan customs have raised the import trade price (ITP) of three steel products by 60 percent, or $241 per ton, on the back of rising steel prices in the world market, sources said. The ITP/values are determined under section 25A of Customs Act, 1969, f
Published 13 Mar, 2010 12:00am
New York cotton

New York cotton

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

Published 13 Mar, 2010 12:00am
Three steel products ITP raised

Three steel products ITP raised

Pakistan customs have raised the import trade price (ITP) of three steel products by 60 percent, or $241 per ton, on the back of rising steel prices in the world market, sources said. The ITP/values are determined under section 25A of Customs Act, 1969, f
Published 13 Mar, 2010 12:00am
New York cotton

New York cotton

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

Published 13 Mar, 2010 12:00am
Three steel products ITP raised

Three steel products ITP raised

Pakistan customs have raised the import trade price (ITP) of three steel products by 60 percent, or $241 per ton, on the back of rising steel prices in the world market, sources said. The ITP/values are determined under section 25A of Customs Act, 1969, f
Published 13 Mar, 2010 12:00am
Reform panel''s suggestion: provinces be empowered to set up bourses

Reform panel''s suggestion: provinces be empowered to set up bourses

Parliamentary Committee on Constitutional Reforms on Friday proposed that the provincial governments should be allowed to set up and regulate stock exchanges within their jurisdictions, reliable sources told Business Recorder. Members of the commit
Published 13 Mar, 2010 12:00am
BRIDGE NOTES: Tit for tat

BRIDGE NOTES: Tit for tat

Today's lesson is one which caters to both - good play and good defence. Bridge is not only an exercise in logical thinking and good judgement, it is in the ultimate analysis a Battle of wits between you and your opponents. More often than not, the human
Published 13 Mar, 2010 12:00am
Reform panel's suggestion: provinces be empowered to set up bourses

Reform panel's suggestion: provinces be empowered to set up bourses

Parliamentary Committee on Constitutional Reforms on Friday proposed that the provincial governments should be allowed to set up and regulate stock exchanges within their jurisdictions, reliable sources told Business Recorder. Members of the commit
Published 13 Mar, 2010 12:00am
SPORTS WORLD: Ban on Younus, Yousuf too harsh a punishment

SPORTS WORLD: Ban on Younus, Yousuf too harsh a punishment

Arguably, the biggest purge of Pakistan cricket in years. The disastrous tour of Australia has brought with it severe punishment to senior players, including former captains Younis Khan, Muhammad Yousuf and Shoaib Malik.
Published 13 Mar, 2010 12:00am
Reform panel's suggestion: provinces be empowered to set up bourses

Reform panel's suggestion: provinces be empowered to set up bourses

Parliamentary Committee on Constitutional Reforms on Friday proposed that the provincial governments should be allowed to set up and regulate stock exchanges within their jurisdictions, reliable sources told Business Recorder. Members of the commit
Published 13 Mar, 2010 12:00am
Finding what you need on Twitter

Finding what you need on Twitter

It's easy to feel left out of the Twitter revolution. After all, you've probably heard Twitter mentioned regularly along with breaking news, celebrity gossip, and even sports shows. And you've likely also visited Twitter in an attempt to see what all the
Published 13 Mar, 2010 12:00am
Neglected primary school teachers

Neglected primary school teachers

The success of any education system largely depends on the success of its teachers, especially primary school teachers (PSTs). They bring and ensure change, modernisation, reformation, and intellectual development in a given society by transmitting knowle
Published 13 Mar, 2010 12:00am
BOOK REVIEW: Issues and challenges of globalisation

BOOK REVIEW: Issues and challenges of globalisation

It is very rare that commercial publishers of fiction, short-stories, poetry, autobiographies, travelogues and other non-fiction books publish an anthology of such a dreary subject as peace and challenges of globalization in the developing countries.
Published 13 Mar, 2010 12:00am
President appoints seven PHC judges

President appoints seven PHC judges

President Asif Ali Zardari on Friday appointed seven additional judges in the Peshawar High Court, for a period of one year, with effect from the date they make the oath of their offices. Following are the names of newly appointed additional judges of PHC
Published 13 Mar, 2010 12:00am
Celebrating Women's Day century

Celebrating Women's Day century

The international women's day celebrated its 100 year anniversary on 8th March 2010. The day was first proposed in 1910 by a group of ladies from 17 countries to raise voice against gender discriminations. In America, the whole of March is designated 'Wom
Published 13 Mar, 2010 12:00am
President appoints seven PHC judges

President appoints seven PHC judges

President Asif Ali Zardari on Friday appointed seven additional judges in the Peshawar High Court, for a period of one year, with effect from the date they make the oath of their offices. Following are the names of newly appointed additional judges of PHC
Published 13 Mar, 2010 12:00am
ART FACTS: Seeking solace in colours of spring

ART FACTS: Seeking solace in colours of spring

A collection of visually stunning and harmoniously conceived compositions of floral art works titled, 'Floral Symphony', by Soraya Sikander's was displayed at Unicorn Gallery recently. Through her paintings, she captured the magnificence of the floral kin
Published 13 Mar, 2010 12:00am
FBR to brief World Bank team on proposed 2010-11 budget provisions

FBR to brief World Bank team on proposed 2010-11 budget provisions

The Federal Board of Revenue (FBR) will brief the World Bank (WB) review mission on the proposed provisions of the Finance Act 2010 to harmonise income tax and sales tax penalties and introduction of Revenue Administration Act for smooth administrative fu
Published 13 Mar, 2010 12:00am
Good neighbourliness -a quandary-I

Good neighbourliness -a quandary-I

Bedevilled by increasing hostility from India and (what can only be called) lackadaisical relations with Afghanistan, our perceptions about good neighbourliness are clouded so badly that we choose to think all beyond our borders as unworthy of a decent in
Published 13 Mar, 2010 12:00am
FBR to brief World Bank team on proposed 2010-11 budget provisions

FBR to brief World Bank team on proposed 2010-11 budget provisions

The Federal Board of Revenue (FBR) will brief the World Bank (WB) review mission on the proposed provisions of the Finance Act 2010 to harmonise income tax and sales tax penalties and introduction of Revenue Administration Act for smooth administrative fu
Published 13 Mar, 2010 12:00am
Lahore terror attack

Lahore terror attack

In the first attack of the year in Lahore on Monday, terrorists rammed an explosives laden vehicle into a building housing the office of the Special Investigating Unit (SIU) in the posh Model Town locality. Initial reports tell of 12 persons killed, inclu
Published 13 Mar, 2010 12:00am
FBR to brief World Bank team on proposed 2010-11 budget provisions

FBR to brief World Bank team on proposed 2010-11 budget provisions

The Federal Board of Revenue (FBR) will brief the World Bank (WB) review mission on the proposed provisions of the Finance Act 2010 to harmonise income tax and sales tax penalties and introduction of Revenue Administration Act for smooth administrative fu
Published 13 Mar, 2010 12:00am
KARACHI CHRONICLE: Women's Day hype

KARACHI CHRONICLE: Women's Day hype

March 10 was Women's Day. From Nawabshah came news that the people running the Shaheed Benazirabad Women Centre would have to close down because the staff salaries had not been paid for three months; the landlord issued notice to vacate the building; the
Published 13 Mar, 2010 12:00am
PN tests missiles in Arabian Sea

PN tests missiles in Arabian Sea

Pakistan Navy Fleet on Friday tested its fire power in the North Arabian Sea to assess the lethality, precision and efficacy of its weapon systems. This was announced in an ISPR (Navy) press release issued here on Friday. It said Admiral Noman Bashir, Chi
Published 13 Mar, 2010 12:00am
Anatomy of whipping by police

Anatomy of whipping by police

Although the police battering are not an uncommon arcane in Pakistan, yet the shocking telecast of flout police torture of some hapless accused, in the presence of flabbergasted on-lookers, in a remote Punjab locality by the acerbic media, has unnerved th
Published 13 Mar, 2010 12:00am
PN tests missiles in Arabian Sea

PN tests missiles in Arabian Sea

Pakistan Navy Fleet on Friday tested its fire power in the North Arabian Sea to assess the lethality, precision and efficacy of its weapon systems. This was announced in an ISPR (Navy) press release issued here on Friday. It said Admiral Noman Bashir, Chi
Published 13 Mar, 2010 12:00am