News Archives for Print - 2010-03-20 - Business Recorder

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May 14, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

Print - 2010-03-20

Government unable to improve power supply: credit line enhanced for KESC under pressure

Government unable to improve power supply: credit line enhanced for KESC under pressure

The government has expressed inability to improve power supply situation in the jurisdiction of Pakistan Electric Power Company (Pepco), but has enhanced credit line by 100 percent for Karachi Electric Power Company (KESC) due to political pressure, sourc

Published 20 Mar, 2010 12:00am

Hafeez lists priorities for economy boost

Hafeez lists priorities for economy boost

Advisor to Prime Minister on Finance, Dr Hafeez Shaikh on Friday said financial management, economic discipline, good governance and microeconomic framework would be his priorities. Talking to newsmen here, Hafeez said in the past benefits of economic gro

Published 20 Mar, 2010 12:00am

India's central bank raises rates

India's central bank raises rates

India's central bank on Friday surprised markets with an inter-meeting rate increase by raising key policy rates by 25 basis points citing rising inflation pressure and robust growth. The Reserve Bank of India (RBI) increased the repo rate, the rate at wh

Published 20 Mar, 2010 12:00am

Hafeez lists priorities for economy boost

Hafeez lists priorities for economy boost

Advisor to Prime Minister on Finance, Dr Hafeez Shaikh on Friday said financial management, economic discipline, good governance and microeconomic framework would be his priorities. Talking to newsmen here, Hafeez said in the past benefits of economic gro

Published 20 Mar, 2010 12:00am

Global pact against tobacco smuggling stalled

Global pact against tobacco smuggling stalled

A global pact to halt smuggling and counterfeiting of tobacco products, which costs governments up to $40 billion a year in lost taxes, has become bogged down over ways to trace products, officials said on Friday. The agreement would also ban duty-free sa

Published 20 Mar, 2010 12:00am

Pepco requests government to increase power tariff

Pepco requests government to increase power tariff

Pakistan Electric Power Company (Pepco) has requested the government to increase power tariff by Rs 1.44 per unit, a private news channel reported on Friday. According to the channel, Pepco sources said that if the government has no objection on the incre

Published 20 Mar, 2010 12:00am

Berlin sees trade surplus criticism as compliment

Berlin sees trade surplus criticism as compliment

Foreign criticism of Germany's trade surplus, most recently from France, is a compliment, Finance Minster Wolfgang Schaeuble said on Friday. "Hidden behind the comments from our French friends is praise," etitiveness," he said, while "those who are maybe

Published 20 Mar, 2010 12:00am

Pepco requests government to increase power tariff

Pepco requests government to increase power tariff

Pakistan Electric Power Company (Pepco) has requested the government to increase power tariff by Rs 1.44 per unit, a private news channel reported on Friday. According to the channel, Pepco sources said that if the government has no objection on the incre

Published 20 Mar, 2010 12:00am

Lloyds to return to profit this year

Lloyds to return to profit this year

Bailed out British lender Lloyds Banking Group said on Friday it would return to profit this year thanks to a bigger than expected drop in bad debts, wrong-footing forecasts for another loss, and sending its shares sharply higher. Lloyds, which sank 6.3 b

Published 20 Mar, 2010 12:00am

Pepco requests government to increase power tariff

Pepco requests government to increase power tariff

Pakistan Electric Power Company (Pepco) has requested the government to increase power tariff by Rs 1.44 per unit, a private news channel reported on Friday. According to the channel, Pepco sources said that if the government has no objection on the incre

Published 20 Mar, 2010 12:00am

Lloyds to return to profit this year

Lloyds to return to profit this year

Bailed out British lender Lloyds Banking Group said on Friday it would return to profit this year thanks to a bigger than expected drop in bad debts, wrong-footing forecasts for another loss, and sending its shares sharply higher. Lloyds, which sank 6.3 b

Published 20 Mar, 2010 12:00am

IMF wants European body for cross-border bank failures

IMF wants European body for cross-border bank failures

The International Monetary Fund called on Friday for the creation of a European Resolution Authority to deal with failures of cross-border financial institutions. IMF Managing Director Dominique Strauss-Kahn said such an authority should be part of a broa

Published 20 Mar, 2010 12:00am

Canada comeback rolls on as price pressures emerge

Canada comeback rolls on as price pressures emerge

Canadian core inflation stayed unexpectedly high in February and retailers posted solid sales gains in January, according to reports on Friday that helped push the Canadian dollar closer to parity with the greenback.

Published 20 Mar, 2010 12:00am

Government unable to improve power supply: credit line enhanced for KESC under pressure

Government unable to improve power supply: credit line enhanced for KESC under pressure

The government has expressed inability to improve power supply situation in the jurisdiction of Pakistan Electric Power Company (Pepco), but has enhanced credit line by 100 percent for Karachi Electric Power Company (KESC) due to political pressure, sourc

Published 20 Mar, 2010 12:00am

Samsung, LG see growth, but know rivals catching up

Samsung, LG see growth, but know rivals catching up

Technology powerhouses Samsung Electronics and LG Electronics reinforced market optimism that strong demand recovery is in place, while cautioning that competition from global rivals is heating up. The comments from Samsung, the world's top maker of LCD f

Published 20 Mar, 2010 12:00am

Government unable to improve power supply: credit line enhanced for KESC under pressure

Government unable to improve power supply: credit line enhanced for KESC under pressure

The government has expressed inability to improve power supply situation in the jurisdiction of Pakistan Electric Power Company (Pepco), but has enhanced credit line by 100 percent for Karachi Electric Power Company (KESC) due to political pressure, sourc

Published 20 Mar, 2010 12:00am

Italy approves smaller industry incentives package

Italy approves smaller industry incentives package

Italy's cabinet on Friday approved a package of around 300 million euros in industrial incentives, including white goods and scooters but excluding the key car sector. The measures mark a sharp reduction from last year's 1.2 billion euros of incentives, w

Published 20 Mar, 2010 12:00am

Rs 1.7 trillion revenue target set for 2010-11

Rs 1.7 trillion revenue target set for 2010-11

The Ministry of Finance has fixed Rs 1710 billion as revenue collection target for the Federal Board of Revenue for 2010-11 against Rs 1,380 billion for 2009-10, reflecting an increase of Rs 330 billion. Sources told Business Recorder on Friday the

Published 20 Mar, 2010 12:00am

Finnish dockers' strike to end: mediator

Finnish dockers' strike to end: mediator

A strike by 3,000 dockers that crippled Finland's foreign trade for more than two weeks is to end, after both sides accepted a compromise agreement, the conciliator's office said Friday. "They have accepted the proposal and the walkout will end," Outi Pel

Published 20 Mar, 2010 12:00am

Rs 1.7 trillion revenue target set for 2010-11

Rs 1.7 trillion revenue target set for 2010-11

The Ministry of Finance has fixed Rs 1710 billion as revenue collection target for the Federal Board of Revenue for 2010-11 against Rs 1,380 billion for 2009-10, reflecting an increase of Rs 330 billion. Sources told Business Recorder on Friday the

Published 20 Mar, 2010 12:00am

US hotel loan default rate may double by 2012: Fitch

US hotel loan default rate may double by 2012: Fitch

Hotel loan defaults could double in the United States, reaching 30 percent, by 2012 as the lodging industry struggles with a drop in cash flows and lower property values, Fitch Ratings said on Thursday. Hotel revenues have fallen nearly 20 percent since 2

Published 20 Mar, 2010 12:00am

China tries to cool yuan dispute with US

China tries to cool yuan dispute with US

China on Friday said it was sending an envoy to Washington to try to ease trade frictions as its currency regime comes under fire, warning that threats from US legislators could stifle room for progress. The announcement, along with conciliatory comments

Published 20 Mar, 2010 12:00am

Dubai crisis overplayed by Western investors

Dubai crisis overplayed by Western investors

Dubai's "build and they will come" model is in a state of flux, rather than broken, as the emirate suffers growing pains in its evolution from emerging economy to global business hub, one of its key developers said.

Published 20 Mar, 2010 12:00am

Bending the rules

Bending the rules

The Federal Finance Ministry has been asked to do something which is not usually allowed: it has reportedly forwarded a summary for the appointment of Vazir Ali Khoja as Managing Director, National Investment Trust, it is reliably learnt. Khoja is a forme

Published 20 Mar, 2010 12:00am

Spain government passes new law to boost economy

Spain government passes new law to boost economy

Spain's government approved a new law on Friday to boost productivity and lift the struggling economy's competitiveness over the next ten years. The Economic Sustainability Law, equipped with 25 billion euros ($34 billion) of funds, aims to shift Spain's

Published 20 Mar, 2010 12:00am

Politicians'' tax record: petition in Supreme Court seeks scrutiny by FBR

Politicians'' tax record: petition in Supreme Court seeks scrutiny by FBR

A petition, seeking direction for chairman of Federal Board of Revenue (FBR) to scrutinise tax record of politicians for determining their total assets/income along with assessed amount of tax on them, was filed before the Supreme Court on Friday.

Published 20 Mar, 2010 12:00am

China and Bangladesh sign oil and gas agreement

China and Bangladesh sign oil and gas agreement

China and Bangladesh pledged closer co-operation on Friday after they signed an agreement on oil and gas during an official visit to Beijing by Prime Minister Sheikh Hasina. The two countries issued a joint statement Friday in which they agreed to strengt

Published 20 Mar, 2010 12:00am

Politicians' tax record: petition in Supreme Court seeks scrutiny by FBR

Politicians' tax record: petition in Supreme Court seeks scrutiny by FBR

A petition, seeking direction for chairman of Federal Board of Revenue (FBR) to scrutinise tax record of politicians for determining their total assets/income along with assessed amount of tax on them, was filed before the Supreme Court on Friday.

Published 20 Mar, 2010 12:00am

Rio, Chinalco sign iron ore joint venture as price talks drag

Rio, Chinalco sign iron ore joint venture as price talks drag

Global miner Rio Tinto signed a $2.9 billion pact with Chinese metals group Chinalco to jointly develop an African iron ore project, amid tense iron ore price talks with China's steel mills and just ahead of a trial of four Rio employees.

Published 20 Mar, 2010 12:00am

Politicians' tax record: petition in Supreme Court seeks scrutiny by FBR

Politicians' tax record: petition in Supreme Court seeks scrutiny by FBR

A petition, seeking direction for chairman of Federal Board of Revenue (FBR) to scrutinise tax record of politicians for determining their total assets/income along with assessed amount of tax on them, was filed before the Supreme Court on Friday.

Published 20 Mar, 2010 12:00am

Bangladesh shuts three telecoms operators

Bangladesh shuts three telecoms operators

The authorities in Bangladesh have shut down three private telecommunications operators in the country on suspicion of running illegal telephony over the internet, a spokesman for the telephone regulatory body said Friday. The Bangladesh Telecommunication

Published 20 Mar, 2010 12:00am

Bears dominate proceedings on ISE

Bears dominate proceedings on ISE

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in the index. ISE Ten Index showed a decrease of 1.76 points, as the Index moved from 2,457.77 to 2,45

Published 20 Mar, 2010 12:00am

Rs 1.7 trillion revenue target set for 2010-11

Rs 1.7 trillion revenue target set for 2010-11

The Ministry of Finance has fixed Rs 1710 billion as revenue collection target for the Federal Board of Revenue for 2010-11 against Rs 1,380 billion for 2009-10, reflecting an increase of Rs 330 billion. Sources told Business Recorder on Friday the

Published 20 Mar, 2010 12:00am

Bears dominate proceedings on ISE

Bears dominate proceedings on ISE

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in the index. ISE Ten Index showed a decrease of 1.76 points, as the Index moved from 2,457.77 to 2,45

Published 20 Mar, 2010 12:00am

British Airways strike to go ahead after talks collapse

British Airways strike to go ahead after talks collapse

Last-ditch talks aimed at preventing a strike by some 12,000 British Airways (BA) cabin crew collapsed Friday, leaving thousands of travellers facing chaos within hours. After a bitter public war of words, BA chief executive Willie Walsh and the joint lea

Published 20 Mar, 2010 12:00am

US will ''do more and announce more'': Holbrooke

US will ''do more and announce more'': Holbrooke

The United States on Friday said it has made "huge advances" in its relationship with Pakistan and pledged "serious intense" discussions with the key ally on enhancing economic and security co-operation at next week''s strategic dialogue.

Published 20 Mar, 2010 12:00am

Foreign central banks' US debt holdings rise: Fed

Foreign central banks' US debt holdings rise: Fed

Foreign central banks' holdings of US Treasuries and agency debt at the Federal Reserve rose in the latest week, data from the US central bank showed on Thursday. The combined holdings of Treasuries and agency securities by foreign central banks at the Fe

Published 20 Mar, 2010 12:00am

US will 'do more and announce more': Holbrooke

US will 'do more and announce more': Holbrooke

The United States on Friday said it has made "huge advances" in its relationship with Pakistan and pledged "serious intense" discussions with the key ally on enhancing economic and security co-operation at next week's strategic dialogue.

Published 20 Mar, 2010 12:00am

Russia's jobless rate down, economy still limping

Russia's jobless rate down, economy still limping

Nearly 400,000 unemployed Russians found jobs last month, but the economy contracted as investment continued to fall and growth in retail sales and disposable incomes was very slow, data showed on Friday. Russia's economy started to recover from its first

Published 20 Mar, 2010 12:00am

US will 'do more and announce more': Holbrooke

US will 'do more and announce more': Holbrooke

The United States on Friday said it has made "huge advances" in its relationship with Pakistan and pledged "serious intense" discussions with the key ally on enhancing economic and security co-operation at next week's strategic dialogue.

Published 20 Mar, 2010 12:00am

EU seeks firm Greek aid plan; France, Germany differ

EU seeks firm Greek aid plan; France, Germany differ

The European Union's monetary affairs chief urged the bloc's leaders on Friday to agree a standby aid package for Greece next week but France and Germany struck different notes and the euro slid. EU heads of state and government will discuss the issue at

Published 20 Mar, 2010 12:00am

Hafeez lists priorities for economy boost

Hafeez lists priorities for economy boost

Advisor to Prime Minister on Finance, Dr Hafeez Shaikh on Friday said financial management, economic discipline, good governance and microeconomic framework would be his priorities. Talking to newsmen here, Hafeez said in the past benefits of economic gro

Published 20 Mar, 2010 12:00am

Lahore Muhammadan wins

Lahore Muhammadan wins

Hard-hitting Saifullah showed attractive batting display to propel Lahore Muhammadan to seven wickets win over Lahore Eagles in the first SPM Lahore Veterans Cricket League at Race Course Ground, Jail Road, Lahore on Friday. Eagles managed 228-8 with Sali

Published 20 Mar, 2010 12:00am

Australian dollar at record high

Australian dollar at record high

The Australian dollar was strong near a record high against a beleaguered euro on Friday as worries about Greece's fiscal problems kept the common currency under pressure. The euro struggled at A$1.4769, a whisker from a record low of A$1.4759 hit offshor

Published 20 Mar, 2010 12:00am

Swiss franc near new highs

Swiss franc near new highs

The Swiss franc consolidated gains on Friday, trading close to Thursday's new 17-month highs after a Swiss National Bank policy maker said firms and consumers should prepare for a return to foreign exchange rates set by markets. The franc spiked higher fo

Published 20 Mar, 2010 12:00am

Three-day Sports Gala concludes: Punjab University making achievements in sports arena

Three-day Sports Gala concludes: Punjab University making achievements in sports arena

Punjab University vice-chancellor Professor Dr Mujahid Kamran has stated that the Punjab University is not only making rapid strides in academic and research excellence but its students have also made enviable achievements in co-curricular and extra-curri

Published 20 Mar, 2010 12:00am

Champions League quarters draw announced: Man United, Barcelona still on course for rematch

Champions League quarters draw announced: Man United, Barcelona still on course for rematch

The Champions League took a trip down memory lane on Friday as the draw for the last eight set up rematches of two recent finals and kept Manchester United and Barcelona on course for a May showdown at the Bernabeu. United and Bayern Munich were paired in

Published 20 Mar, 2010 12:00am

Ali Hai occupies top slot in Royal Palm Golf

Ali Hai occupies top slot in Royal Palm Golf

In the four rounds Royal Palm National Golf Championship currently in progress at the Royal Palm Golf Course, the contender in command of the situation is Ali Hai of Karachi who occupies the top slot on the leader board with another stunning round of two

Published 20 Mar, 2010 12:00am

Malik, Rana allowed to play in Bangladesh

Malik, Rana allowed to play in Bangladesh

Pakistan gave permission Friday for banned former captain Shoaib Malik and all-rounder Rana Naved-ul-Hasan to play in a domestic Twenty20 league in Bangladesh. Earlier this month the Pakistan Cricket Board (PCB) banned Malik and Naved from all forms of th

Published 20 Mar, 2010 12:00am

Central contract to 37 cricketers awarded

Central contract to 37 cricketers awarded

In an expected move, Pakistan Cricket Board (PCB) ignored three former skippers Younus Khan, Mohammad Yousuf and Shoaib Malik and pacers Rana Naveed ul Hasan and Shoaib Akhtar, when it formally announced central contracts to 37 cricketers for one year sta

Published 20 Mar, 2010 12:00am

Irfan hails PFF chief for getting office in World Cup body

Irfan hails PFF chief for getting office in World Cup body

Football Development Officer for four regions, Muhammad Irfan Khan Niazi, has congratulated Pakistan Football Federation (PFF) President, Syed Faisal Saleh Hayat for winning heart of Sepp blatter, President of Fédération Internationale de Football Associa

Published 20 Mar, 2010 12:00am

2010 World Cup helps FIFA revenues to record

2010 World Cup helps FIFA revenues to record

The World Cup in South Africa has helped FIFA's revenues past the billion dollar mark for the first time, world football's governing body said Friday. "We are very confident, not only confident but very proud, that we can deliver the World Cup to Africa a

Published 20 Mar, 2010 12:00am

Capello invites injured Beckham to World Cup

Capello invites injured Beckham to World Cup

England have accepted injured David Beckham is out of contention for a place at the World Cup but coach Fabio Capello has invited the crestfallen midfielder to join the squad in South Africa anyway. The 34-year-old midfielder tore an Achilles tendon playi

Published 20 Mar, 2010 12:00am

Taiwan dollar flat

Taiwan dollar flat

The Taiwan dollar traded largely flat on Friday as the central bank moved to offset mild gains from expectations of a sustained economic recovery in Asia despite new doubts about debt in Europe, dealers said. The island's central bank, which is keen to co

Published 20 Mar, 2010 12:00am

Cash-strapped Chinese living in shipping containers

Cash-strapped Chinese living in shipping containers

Rocketing house prices in China's booming south are forcing low-earners to turn to cheap homes made out of shipping containers, state press said Friday. Clusters of container villages are cropping up around the boomtown of Shenzhen, near Hong Kong, where

Published 20 Mar, 2010 12:00am

China wages to rise as labour shortages grow

China wages to rise as labour shortages grow

The frustrations of companies in coastal China trying to hire enough workers may become a permanent headache, foreshadowing higher wages, according to a top labour economist. Labour shortages, especially in export hubs in China's coastal provinces, have i

Published 20 Mar, 2010 12:00am

Mother of British teen killed in Goa admits benefit fraud

Mother of British teen killed in Goa admits benefit fraud

The mother of a British teenager killed in India faces a possible jail term after she admitted falsely claiming 19,000 pounds (21,000 euros, 29,000 dollars) in state benefits Friday. Fiona MacKeown's 15-year-old daughter Scarlett Keeling was found dead on

Published 20 Mar, 2010 12:00am

Atom smasher cranks up to record energy levels: CERN

Atom smasher cranks up to record energy levels: CERN

The world's most powerful atom smasher has been brought up to a record energy level, the European Organisation for Nuclear Research said Friday, in readiness for collisions that could generate new discoveries in particle physics. "At just after 5.20 this

Published 20 Mar, 2010 12:00am

Iran allows Osama's daughter to leave

Iran allows Osama's daughter to leave

A teenaged daughter of Osama bin Laden has been allowed to fly out of Tehran where she had taken refuge in Saudi Arabia's embassy, a Saudi-financed newspaper reported on Friday. Asharq Al-Awsat said Iman bin Laden arrived in Damascus on a commercial fligh

Published 20 Mar, 2010 12:00am

Admirals, others face trial over Turkey 'plot'

Admirals, others face trial over Turkey 'plot'

Thirty-three suspects, among them three admirals, will stand trial in Turkey over alleged plans to carry out attacks against non-Muslim minorities in a bid to discredit the government, the Anatolia news agency reported Friday.

Published 20 Mar, 2010 12:00am

Gambia defence ministry accuses 10 of treason

Gambia defence ministry accuses 10 of treason

Gambia's justice ministry on Thursday accused 10 people, including top military brass, of treason over a foiled attempt last year to overthrow President Yahya Jammeh. The alleged coup plotters are said to have bought arms and equipment and recruited merce

Published 20 Mar, 2010 12:00am

Library book is returned - 45 years late

Library book is returned - 45 years late

Staff at the Dinnington library are used to people bringing books back late but the package they received last month was in a class of its own. It contained a paperback first edition copy of "Quatermass and the Pit" by Nigel Kneale which had been borrowed

Published 20 Mar, 2010 12:00am

Partly Facetious: He makes no distinction between sexes

Partly Facetious: He makes no distinction between sexes

"May I please request the President to look above?"

Published 20 Mar, 2010 12:00am

Hong Kong, China stocks edge up

Hong Kong, China stocks edge up

Shares in China and Hong Kong eked out small gains in a cautious session on Friday, with wary investors expecting Beijing to further tighten liquidity by lifting bank reserve ratios. The Shanghai Composite Index closed up 0.71 at 3,067 points, its highest

Published 20 Mar, 2010 12:00am

Chile central bank holds rates low as economy grows

Chile central bank holds rates low as economy grows

Chile's central bank held its benchmark interest rate unchanged for the eighth straight month on Thursday to help fuel an economy that had just pulled out of recession when a destructive earthquake hit last month.

Published 20 Mar, 2010 12:00am

WTO to rule on Boeing-Airbus row on Tuesday

WTO to rule on Boeing-Airbus row on Tuesday

The World Trade Organisation is to issue a ruling Tuesday on a US complaint charging the European Union with illegal subsidies to aircraft manufacturer Airbus, an industry source said Friday. "The decision will be made public on Tuesday afternoon," the so

Published 20 Mar, 2010 12:00am

EADS may tender for US tanker deal if in with a chance

EADS may tender for US tanker deal if in with a chance

European aerospace giant EADS may submit a new offer to supply the US air force with tanker jets if revised Pentagon tender rules give it a fair chance of success, the firm said Friday. Last week, EADS angrily pulled out of the race for the 35-billion-dol

Published 20 Mar, 2010 12:00am

Fears of a US double dip 'remain unfounded': ECRI

Fears of a US double dip 'remain unfounded': ECRI

A measure of future US economic growth rose for the seventh straight week, while its yearly growth gauge rebounded after a 12-week slide, indicating a pullback in the pace of recovery in the coming months, a research group said on Friday.

Published 20 Mar, 2010 12:00am

JGB futures dip

JGB futures dip

Japanese government bond futures inched down on Friday as investors unwound long positions in the wake of weaker US Treasuries and Tokyo's Nikkei stock average rising back towards a two-month high. Foreign investors such as hedge funds also continued unwi

Published 20 Mar, 2010 12:00am

JGB futures dip

JGB futures dip

Japanese government bond futures inched down on Friday as investors unwound long positions in the wake of weaker US Treasuries and Tokyo's Nikkei stock average rising back towards a two-month high. Foreign investors such as hedge funds also continued unwi

Published 20 Mar, 2010 12:00am

Toronto stocks slip

Toronto stocks slip

Toronto's main stock index closed moderately lower on Thursday as concerns about tighter credit in China and doubts about an aid plan for debt-stricken Greece increased investor caution over the global economic outlook and pressured commodity prices. Both

Published 20 Mar, 2010 12:00am

Taiwan stocks end firmer

Taiwan stocks end firmer

Taiwan stocks inched up 0.15 percent on Friday to a fresh eight-week closing high, led by gains in Acer and other heavyweights, as investor confidence continued to get a lift from foreign buying. The TAIEX share index rose 11.57 points to 7,897.91, with t

Published 20 Mar, 2010 12:00am

Dow gains for eighth straight day

Dow gains for eighth straight day

The Dow industrials rose for an eighth consecutive session on Thursday, lifted by a rise in Boeing's stock, while a mixed group of economic figures kept the broader S&P 500 in check. The Dow's gains came even though more stocks declined than advanced on t

Published 20 Mar, 2010 12:00am

US leaves open more arms for Taiwan

US leaves open more arms for Taiwan

The United States on Thursday left open the possibility of further arms sales to Taiwan, with a senior official saying that China's military build-up was aimed squarely at the self-governing island. President Barack Obama's administration in January appro

Published 20 Mar, 2010 12:00am

US bonds fall

US bonds fall

US Treasuries fell on Thursday as investors cleared room for next week's supply, overshadowing tame inflation data that reinforced the view the Federal Reserve can leave short-term interest rates near zero percent. The Treasury Department, as expected, sa

Published 20 Mar, 2010 12:00am

US bonds fall

US bonds fall

US Treasuries fell on Thursday as investors cleared room for next week's supply, overshadowing tame inflation data that reinforced the view the Federal Reserve can leave short-term interest rates near zero percent. The Treasury Department, as expected, sa

Published 20 Mar, 2010 12:00am

Seoul shares rise

Seoul shares rise

Seoul shares ended 0.7 percent higher on Friday, fuelled by continued foreign buying and rises in key technology and auto issues including Samsung Electronics and Kia Motors. The Korea Composite Stock Price Index (KOSPI) finished up 10.94 points at 1,686.

Published 20 Mar, 2010 12:00am

Nikkei rebounds, nears two-month high

Nikkei rebounds, nears two-month high

Japan's Nikkei average rose 0.8 percent on Friday, with retailer Aeon climbing in the wake of an upbeat profit forecast and as shares rebounded broadly after a resilient performance from the Dow industrials. The Nikkei climbed after succumbing to profit-t

Published 20 Mar, 2010 12:00am

Asian bond spreads widen

Asian bond spreads widen

Asian spreads widened on Friday, taking further away from eight-week lows, as investor worries about Greece triggered profit-taking. Convern about stretched valuations and excess supplies also pressured prices and caused spreads to inch wider. "Many globa

Published 20 Mar, 2010 12:00am

Asian bond spreads widen

Asian bond spreads widen

Asian spreads widened on Friday, taking further away from eight-week lows, as investor worries about Greece triggered profit-taking. Convern about stretched valuations and excess supplies also pressured prices and caused spreads to inch wider. "Many globa

Published 20 Mar, 2010 12:00am

Yuan steady

Yuan steady

The yuan was little changed against the dollar in offshore forwards on Friday, stabilising as steadily mounting US pressure for resumed yuan appreciation met with repeated insistence from China that it will keep the currency stable. Benchmark dollar/yuan

Published 20 Mar, 2010 12:00am

Euro holds steady but renewed Greek woes weigh

Euro holds steady but renewed Greek woes weigh

The euro stabilised but remained under pressure on Friday after Greece said it could not achieve promised deficit cuts if its borrowing costs remain so high. The euro had fallen broadly the previous day on worries over Greece's debt problems after a media

Published 20 Mar, 2010 12:00am

Euro drops on Greece fears

Euro drops on Greece fears

The euro fell against the dollar on Thursday on persistent worries over Greece's debt problems after a report said the country was not optimistic about aid from euro zone members. The euro also fell to a 17-month low versus the Swiss franc after a Swiss N

Published 20 Mar, 2010 12:00am

Role of engineers highlighted in resolving energy crisis

Role of engineers highlighted in resolving energy crisis

The engineers have been asked to play their role towards the resolution of the energy crisis in the country. This was stressed at the concluding ceremony of the 25th multi-topic international symposium of the Institution of Electrical and Electronics Engi

Published 20 Mar, 2010 12:00am

Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 20 Mar, 2010 12:00am

Money laundering case: SHC dismisses bail plea of Hanif Kalia

Money laundering case: SHC dismisses bail plea of Hanif Kalia

Sindh High Court (SHC) dismissed on Friday application seeking bail on medical grounds of Muhammad Hanif S. Kalia, one of directors of M/s Khanani & Kalia International money exchange firm, in money laundering case. A specially constituted division bench,

Published 20 Mar, 2010 12:00am

Last date of renunciation/payment

Last date of renunciation/payment

Last dates of renunciation/payment.

Published 20 Mar, 2010 12:00am

Can zakat be given to transvestites? SHC seeks comments from secretary zakat Sindh

Can zakat be given to transvestites? SHC seeks comments from secretary zakat Sindh

Sindh High Court on Friday issued notice to Secretary Sindh Zakat & Usher Department, asking him to inform the court that whether any Zakat could be given to transvestites' representative association. A division bench, comprising Chief Justice Sarmad Jala

Published 20 Mar, 2010 12:00am

Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 20 Mar, 2010 12:00am

Renewal of Pak-Afghan Trade Agreement under process: Amin

Renewal of Pak-Afghan Trade Agreement under process: Amin

Minister for Commerce Makhdoom Amin Fahim on Friday said renewal of Pak-Afghan Trade Agreement is under process and hoped its sooner finalisation. "As soon as it is finalised, we shall inform the House," he said during Question Hour in National Assembly a

Published 20 Mar, 2010 12:00am

Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 20 Mar, 2010 12:00am

Traffickers kill two Iranian policemen near border

Traffickers kill two Iranian policemen near border

Drug traffickers killed two policemen in a clash near the Pakistani border in south-eastern Iran, the state news agency IRNA reported on Friday. The incident took place on Wednesday near the city of Saravan in Sistan-Balochestan province, it said. Local p

Published 20 Mar, 2010 12:00am

Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

Published 20 Mar, 2010 12:00am

Islamabad protests: DIG suspects involvement of banned outfits

Islamabad protests: DIG suspects involvement of banned outfits

Deputy Inspector General (DIG) Islamabad Police Bin Yamin on Friday said that there was a possibility of the involvement of banned organisations in the violent protests in the capital. Talking to a private television channel in a telephonic interview the

Published 20 Mar, 2010 12:00am

BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 20 Mar, 2010 12:00am

PG trainee Doctors: posting policy for 1,200 Medical Officers approved

PG trainee Doctors: posting policy for 1,200 Medical Officers approved

Chief Minister Muhammad Shahbaz Sharif has approved the posting policy for the newly recruited 1,200 Medical Officers through Public Service Commission (PSC), according to which Post Graduate Trainee Doctors would be posted in the relevant teaching Hospit

Published 20 Mar, 2010 12:00am

BRIndex30 and BR Sectoral Indices

BRIndex30 and BR Sectoral Indices

BRIndex30 and BR Sectoral Indices on Friday (March 19, 2010).

Published 20 Mar, 2010 12:00am

Meezan Bank gets 'Best Islamic Bank in Pakistan' award

Meezan Bank gets 'Best Islamic Bank in Pakistan' award

Meezan Bank, Pakistan's first and largest Islamic bank, has been awarded 'Best Islamic Bank in Pakistan' for 2009 by Islamic Finance News of REDmoney group, Malaysia.

Published 20 Mar, 2010 12:00am

Funds Association of Pakistan

Funds Association of Pakistan

Mutual Funds Association has issued open-end funds daily prices for Friday (March 19, 2010)

Published 20 Mar, 2010 12:00am

'Sino-Pak ties uplift beneficial for regional peace'

'Sino-Pak ties uplift beneficial for regional peace'

The development of the friendship between Pakistan and China was in the principle interest of both countries as well as in the interest of regional peace and security.

Published 20 Mar, 2010 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 13	281.73
USD PKR Interbank Buying / May 13	281.53
USD to Japanese Yen / May 13	147.90
USD to Swiss Franc / May 13	0.84
Pound Sterling to USD / May 13	1.32
Euro to USD / May 13	1.11
UK LIBOR % / May 12	4.96

Stock	Volume
S&P 500 / May 12	5,844.19
Nasdaq / May 12	18,708.34
Dow Jones / May 12	42,410.10
India Sensex / May 13	81,726.97
Tokyo Nikkei / May 13	38,305.85
Hang Seng / May 13	23,188.20
FTSE 100 / May 13	8,606.55
Germany DAX 30 / May 13	23,595.02
France CAC40 / May 13	7,859.80

Item	Value
Karachi Cotton PKR/37.32 KG / May 12	16,985
Gold 10 Grams PKR / May 12	291,923
Crude Oil USD/Barrel / May 13	61.90
Gold Spot USD/Ounce / May 13	3,253.26
Cotton US¢/pound / May 13	66.85
Petrol/Litre / May 14	252.63
Diesel/Litre / May 14	256.64

Gainers
Losers
Leaders

Stock	Price
Grays Leasing / May 13 Grays Leasing Limited(GRYL)	4.51 ▲ 0.72 (19%)
TPL Trakker Ltd / May 13 TPL Trakker Limited(TPLT)	6.59 ▲ 1 (17.89%)
Al-Shaheer Corp / May 13 Al Shaheer Corporation Limited(ASC)	6.88 ▲ 1 (17.01%)
B. F. Mod. / May 13 B.F. Modaraba(BFMOD)	8.34 ▲ 1 (13.62%)
Burj Clean Energy Modaraba / May 13 Burj Clean Energy Modaraba(GEM)(GEMBCEM)	9.11 ▲ 1 (12.33%)
Mahanna Islamic Index / May 13 Mahanna Islamic Index Traded Fund(MIIETF)	15.47 ▲ 1.65 (11.94%)
Haseeb Waqas / May 13 Haseeb Waqas Sugar Mills Limited(HWQS)	9.59 ▲ 1 (11.64%)
Gulshan Sp. / May 13 Gulshan Spinning Mills Limited(GSPM)	3.40 ▲ 0.35 (11.48%)
Ghazi Fabrics / May 13 Ghazi Fabrics International Limited(GFIL)	10.17 ▲ 1 (10.91%)
PIA Holding Co.Ltd / May 13 PIA Holding Company Limited(PIAHCLA)	14.80 ▲ 1.35 (10.04%)

Stock	Price
Power Cem(Pref) / May 13 Power Cement (Pref)(POWERPS)	15.35 ▼ -1.71 (-10.02%)
Bilal Fibres / May 13 Bilal Fibres Limited(BILF)	19.59 ▼ -2.18 (-10.01%)
TPL Life Insur. / May 13 TPL Life Insurance Limited(TPLL)	46.80 ▼ -5.2 (-10%)
Din Tex. / May 13 Din Textile Mills Limited(DINT)	45 ▼ -4.99 (-9.98%)
Mughal Energy / May 13 Mughal Energy Limited(GEM)(GEMMEL)	19.90 ▼ -2.12 (-9.63%)
Suhail Jute / May 13 Suhail Jute Mills Limited(SUHJ)	78.36 ▼ -8.24 (-9.52%)
First Punjab Modaraba / May 13 First Punjab Modaraba(FPJM)	2.77 ▼ -0.28 (-9.18%)
Parmount Sp. / May 13 Paramount Spinning Mills Limited(PASM)	3.36 ▼ -0.31 (-8.45%)
First AL-Noor Mod. / May 13 First Al-Noor Modaraba(FANM)	2.95 ▼ -0.25 (-7.81%)
First IBL Mod. / May 13 First IBL Modaraba(FIBLM)	3 ▼ -0.24 (-7.41%)

Stock	Volume
WorldCall Telecom / May 13 Worldcall Telecom Limited(WTL)	41,734,903 ▼ -0.06
Maple Leaf Cement / May 13 Maple Leaf Cement Factory Limited(MLCF)	41,052,877 ▲ 6.27
Sui South Gas / May 13 Sui Southern Gas Company Limited(SSGC)	35,773,773 ▲ 2.33
Oil & Gas Dev. / May 13 Oil & Gas Development Company Limited(OGDC)	30,912,153 ▲ 15.65
B.O.Punjab / May 13 The Bank of Punjab(BOP)	24,175,098 ▼ -0.16
Cnergyico PK / May 13 Cnergyico PK Limited(CNERGY)	24,174,880 ▼ -0.09
K-Electric Ltd. / May 13 K-Electric Limited(KEL)	23,803,446 ▼ -0.22
At-Tahur Ltd. / May 13 At-Tahur Limited(PREMA)	21,754,749 ▼ -3.25
Fauji Cement / May 13 Fauji Cement Company Limited(FCCL)	20,681,855 ▲ 1.82
D.G.K.Cement / May 13 D.G. Khan Cement Company Limited(DGKC)	19,785,523 ▲ 10.35

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Gold price per tola falls massive Rs10,400 in Pakistan

Gold price per tola falls massive Rs10,400 in Pakistan

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Housing finance schemes: Pakistan govt ready to offer 100% guarantees to banks

Buying rally continues at bourse, KSE-100 settles with nearly 1,300-point gain

Buying rally continues at bourse, KSE-100 settles with nearly 1,300-point gain

Pakistan’s $60bn export target: Ministers told to craft business plans

Pakistan’s $60bn export target: Ministers told to craft business plans

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Rupee settles lower against US dollar

Rupee settles lower against US dollar

Pakistan govt’s debt stock soars to Rs73.6trn by March-end

Pakistan govt’s debt stock soars to Rs73.6trn by March-end

Pakistan govt working on options to increase FED

Pakistan govt working on options to increase FED

Illusion of remittance-driven growth

Illusion of remittance-driven growth

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