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Print - 2010-04-20
Monday's afternoon trade: Wall Street hurt by Goldman worries

Monday's afternoon trade: Wall Street hurt by Goldman worries

US stocks fell on Monday as a fraud case against Goldman Sachs weighed on the market for a second day, overshadowing positive Citigroup earnings and upbeat economic data. After seesawing between losses and gains for most of the morning, Wall Street was lo
Published 20 Apr, 2010 12:00am
Goldman concerns weigh on FTSE

Goldman concerns weigh on FTSE

Uncertainty over the fallout from fraud charges against Goldman Sachs and the grounding of flights across Europe depressed London blue chips on Monday, led by risk-sensitive banks and miners and travel firms. The FTSE 100 closed down 16.05 points, or 0.3
Published 20 Apr, 2010 12:00am
New York cotton finishes mixed

New York cotton finishes mixed

Cotton futures closed mixed on Monday after early weakness ran into solid trade and consumer buying at the day's lows, and brokers said fibre contracts may trade sideways while waiting for fresh leads. The spot May cotton contract fell 0.16 cent to end at
Published 20 Apr, 2010 12:00am
Liffe sugar higher

Liffe sugar higher

August white sugar ended $10.30 higher at $496.60 per tonne on Monday. Market bounced back after sharp setback on Friday buoyed by strong physical demand for whites as traders digested news of a purchase by Pakistan over the weekend. July cocoa on Liffe e
Published 20 Apr, 2010 12:00am
Risk aversion knocks copper after Goldman charge

Risk aversion knocks copper after Goldman charge

Risk aversion drove copper to a three-week low on Monday as investors fretted about the potential impact of fraud charges against Goldman Sachs, Wall Street's most influential bank and a leading commodities player. Also hitting copper was a rising US curr
Published 20 Apr, 2010 12:00am
Oil falls over two percent

Oil falls over two percent

Oil fell more than 2 percent on Monday, briefly touching a three-week low below $81 a barrel as flying restrictions in Europe ate into jet fuel demand and fraud charges against Goldman Sachs Group Inc dampened risk appetite around the world. The drop foll
Published 20 Apr, 2010 12:00am
Gold falls in Europe

Gold falls in Europe

Gold fell on Monday as news that the US authorities have charged Goldman Sachs with fraud hurt commodities but lifted the dollar, though it recovered from two-week lows as some investors sought the metal as a haven. Goldman Sachs was charged on Friday wit
Published 20 Apr, 2010 12:00am
US MIDDAY: sugar and coffee rally

US MIDDAY: sugar and coffee rally

Summaries of the ICE Futures US cocoa, coffee and sugar markets during early trade on Monday. July arabica coffee rose 0.40 cent to $1.3120 per lb at 11:06 am EDT (1506 GMT). Ranging from $1.3160 to $1.3060, the lowest intraday level for the second-positi
Published 20 Apr, 2010 12:00am
US MIDDAY: corn, soya and wheat lower

US MIDDAY: corn, soya and wheat lower

Corn and soyabean futures on the Chicago Board of Trade fell early on Monday, pressured by a firmer dollar and favourable planting weather in the US Midwest, traders said. Wheat futures followed corn and soyabeans lower. Traders were also taking profits i
Published 20 Apr, 2010 12:00am
US MIDDAY: copper falls

US MIDDAY: copper falls

US copper futures fell to three-week lows before steadying at slightly lower levels early on Monday, supported by a calmer open on Wall Street following the US government's decision to sue Goldman Sachs Group Inc for fraud. Copper for May delivery down 0.
Published 20 Apr, 2010 12:00am
US MIDDAY: gold slightly down

US MIDDAY: gold slightly down

Gold futures were slightly lower in mixed trade early on Monday, but up from lows posted earlier in the session, as investors took heart from a positive US economic index after Friday's sell-off. COMEX June gold down $1.30 at $1,135.60 an ounce at 10:51 a
Published 20 Apr, 2010 12:00am
Pepco formulates power-acquiring policy from private sector

Pepco formulates power-acquiring policy from private sector

Pakistan Electric Power Company (Pepco) has formulated the policy for acquiring electricity from private sector to minimise load shedding in the wake of extraordinary power shortage in the country. Under this policy, Pepco has contracted 328 megawatt RFO,
Published 20 Apr, 2010 12:00am
50,000 forms under BISP distributed in Gilgit-Baltistan

50,000 forms under BISP distributed in Gilgit-Baltistan

PPP General Secretary Gilgit-Baltistan (GB) Ghulam Muhammad on Monday said as many as 50,000 forms under Benazir Income Support Programme (BISP) had been distributed among the needy families of the region so far. Talking to newsmen, he said out of those f
Published 20 Apr, 2010 12:00am
Iranian offer of gas supply

Iranian offer of gas supply

According to a recently concluded agreement, Iran will supply 750 million cubic feet of natural gas to Pakistan and the project will cost about US $3 to 4 billion. The work on the project has started and the gas pipeline installation is progress. Hopefull
Published 20 Apr, 2010 12:00am
Hari Mela a pleasant surprise

Hari Mela a pleasant surprise

I would like to congratulate State Bank of Pakistan, Hyderabad office, on organising recently a Hari Mela at Mirpurkhas. It was a pleasant surprise for me and for other agriculturists that at last our central bank had realised the importance of agricultur
Published 20 Apr, 2010 12:00am
Call for safety steps against nuclear terrorism

Call for safety steps against nuclear terrorism

The recently concluded two-day nuclear safety summit, convened by President Barack Obama, has raised alarm against the possibility of nuclear terrorism, the most challenging threat and it emphasised the need for strong nuclear safety measures against such
Published 20 Apr, 2010 12:00am
The saner alternative

The saner alternative

On April 15, the Federal Board of Revenue (FBR) disclosed that the estimated the cost of replacing the general sales tax (GST) with value-added tax (VAT) would be Rs 50bn (a fraction of current GST revenue), and in spite thereof, implementing the VAT regi
Published 20 Apr, 2010 12:00am
Controversy revolving around Accountability Bill

Controversy revolving around Accountability Bill

Serious differences have emerged between the government and the Opposition over the proposed accountability law. Addressing a news conference, the Leader of the Opposition, Chaudhry Nisar Ali Khan, took serious exception to what he called the bulldozing o
Published 20 Apr, 2010 12:00am
ADB's outlook: some gloomy forecasts

ADB's outlook: some gloomy forecasts

The Asian Development Bank (ADB) Outlook 2010, released on 13th April, is replete with gloomy forecasts about the economy of Pakistan. Backed by a slight recovery in manufacturing, the growth rate, according to its estimates, was expected to be only 3.0 p
Published 20 Apr, 2010 12:00am
DDC approves 75 schemes costing Rs 53.5 million

DDC approves 75 schemes costing Rs 53.5 million

The District Development Committee (DDC) approved 75 development schemes of education, health and roads sectors, which would be completed at a cost of Rs 53.5 million. This approval was given in a meeting of the committee, which held here under the chairm
Published 20 Apr, 2010 12:00am
Awam organises public forum on 'Women Empowerment'

Awam organises public forum on 'Women Empowerment'

Association of Women for Awareness and Motivation (AWAM) organised a public forum titled "Women Empowerment: Still a Dream" in collaboration with Agency for Sustainable Development Pakistan (ASDP. The main objective of this activity was to sensitise the c
Published 20 Apr, 2010 12:00am
Arrangements for wheat procurement centres reviewed

Arrangements for wheat procurement centres reviewed

DCO Saeed Wahlah paid whirlwind tour to the tehsil Jaranwala to review necessary arrangement of wheat procurement centres. He visited Buchiana, Rodala Road, Joke Ditta and Jaranwala city centres and inspected arrangement there as directed by the Punjab go
Published 20 Apr, 2010 12:00am
APCA threatens to besiege National Assembly

APCA threatens to besiege National Assembly

All Pakistan Clerks Association (APCA) has threatened to besiege the National Assembly and stage a demonstration on April 22, if the government did not increase their salaries by 100 percent with effect from January I, 2010 like the employees of Judiciary
Published 20 Apr, 2010 12:00am
Commissioner calls to ensure transparency in recruitment process

Commissioner calls to ensure transparency in recruitment process

Commissioner Tahir Hussain has directed the heads of non-devolved provincial departments to ensure merit and transparency in recruitment process of grade 1 to 5 posts in their respective departments. He asked them to follow the instructions, rules and reg
Published 20 Apr, 2010 12:00am
Need for consensus on Kalabagh Dam stressed

Need for consensus on Kalabagh Dam stressed

A number of political parties have stressed the need for consensus among the provinces and political parties on Kalabagh Dam to end the prevailing power crisis in the country.
Published 20 Apr, 2010 12:00am
The Weather

The Weather

The weather report on Monday (April 19, 2010) and the forecast for Tuesday (April 20, 2010).

Published 20 Apr, 2010 12:00am
Fesco organises Naat competition

Fesco organises Naat competition

Muslims must follow the foot prints of Prophet Muhammad (PBUH) to win the blessing of Allah Almighty in this and the world hereafter, said Tanvir Safdar Cheema Chief Executive Officer Fesco. He was addressing a Naat Competition organised by Fesco at Headq
Published 20 Apr, 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 20 Apr, 2010 12:00am
Drying, dehydration training in horticulture begins

Drying, dehydration training in horticulture begins

Agri-Support Fund (ASF) with the technical assistance of Agricultural Research Institute, Tarnab, initiated a six-day training programme in drying and dehydration of fruits and vegetables. The training programme started in the Agricultural Research Instit
Published 20 Apr, 2010 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 20 Apr, 2010 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 20 Apr, 2010 12:00am
Tax exemption to international Mystic Music festival demanded

Tax exemption to international Mystic Music festival demanded

Director Rafi Peer Theater Workshop, Faizan Peerzada has demanded of the government of Punjab to give tax exemption to the 8th International Mystic Music Festival starting from April 22 with the support of Royal Norwegian Embassy. He was addressing a pres
Published 20 Apr, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (April 19, 2010).

Published 20 Apr, 2010 12:00am
Traders ask government to overcome power crisis

Traders ask government to overcome power crisis

President, Anjuman-e-Tajiran Auto Parts, Waqr Ahmad Mian urged the government to overcome the prevailing power crisis. He warned that if the prolong outages were continued unabated, the traders would be forced to launch "civil disobedience movement."
Published 20 Apr, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (April 19, 2010).

Published 20 Apr, 2010 12:00am
Korean ambassador calls on minister

Korean ambassador calls on minister

Pakistan is among the countries having adverse effects of climate change and is trying its level best to find practicable solutions to environment related issues. This was stated by Federal Minister for Environment Hameed Ullah Jan Afridi while talking to
Published 20 Apr, 2010 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (April 19, 2010).

Published 20 Apr, 2010 12:00am
LHC issues notice in petition against Nazir Jatt

LHC issues notice in petition against Nazir Jatt

The Lahore High Court (LHC) has issued notice for April 21 in response to a petition filed against Nazir Jatt, former PML-Q MNA, Vehari, for having fake BA degree. The petitioner Sajid Mahi contended that the respondent was not even FA but he got a fake d
Published 20 Apr, 2010 12:00am
Need to reform 'Thana' culture stressed

Need to reform 'Thana' culture stressed

Punjab Chief Minister Muhammad Shahbaz Sharif has said that police should spare no effort for protecting life and property of the citizens besides maintaining law and order, and the campaign for nabbing proclaimed offenders involved in heinous crimes shou
Published 20 Apr, 2010 12:00am
PHSADC offers all-out facilities to manufacturers

PHSADC offers all-out facilities to manufacturers

Pakistan Hunting, Sporting Arms Development Company (PHSADC) has offered all out facilitation to the manufacturers and urged them to utilise available facilities for the promotion of the development of the sector. The offer was extended here during a semi
Published 20 Apr, 2010 12:00am
MoMo launches its 100th chapter

MoMo launches its 100th chapter

Mobile-Monday (MoMo), the global community of mobile industry visionaries, developers and companies, launched its 100th chapter here on Monday. MoMo is a hub of influential stakeholders of the ICT industry, fostering co-operation and cross-border business
Published 20 Apr, 2010 12:00am
NH&MP adopts policy of merit for promotions

NH&MP adopts policy of merit for promotions

Dr Wasim Kauser Inspector General (IG) National Highways & Motorway Police (NH&MP) has said the NH&MP have adopted the policy of merit in connection with the promotions of police officials. The IG said all possibilities of outside interference in connecti
Published 20 Apr, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (April 19, 2010).

Published 20 Apr, 2010 12:00am
Denying overtime pay: LHC asks ICAP to submit report within fortnight

Denying overtime pay: LHC asks ICAP to submit report within fortnight

The Lahore High Court has issued notice to Institute of Chartered Accountants of Pakistan (ICAP) and called for report within a fortnight in a petition filed by one Amir Manzoor against a chartered accountancy firm for not paying full payment in accordanc
Published 20 Apr, 2010 12:00am
Militants blow up Nato tankers

Militants blow up Nato tankers

A bomb attack in a restive tribal area on Monday destroyed two tankers carrying fuel for Nato forces in Afghanistan, local officials said. The bomb planted under one tanker exploded near the village of Takhtabeg in the lawless Khyber tribal district, turn
Published 20 Apr, 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 (April 19, 2010).

Published 20 Apr, 2010 12:00am
Chairman PTA appreciates efforts of MCS

Chairman PTA appreciates efforts of MCS

'Formulation of collaborative regulatory framework, third party mobile banking regulations, consumer confidence & protection and adoption of latest trends are those initiatives which can bring about unprecedented growth in mobile commerce (m-commerce)' sa
Published 20 Apr, 2010 12:00am
Coca-Cola supports teachers' training programme for IDP's

Coca-Cola supports teachers' training programme for IDP's

In partnership with Rising Sun Institute, Coca-Cola is initiating a teachers training programme in Lahore. The teachers, belonging to IDP areas, will be trained to teach special children currently studying in government operated schools. Rising Sun Instit
Published 20 Apr, 2010 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Monday (April 19, 2010).

Published 20 Apr, 2010 12:00am
Quake-hit areas: 'major reconstruction work completed'

Quake-hit areas: 'major reconstruction work completed'

Chairman Earthquake Reconstruction and Rehabilitation Authority (Erra) Altaf Saleem has said that major reconstruction work in quake-hit areas has been completed with the help of donors. Addressing the inaugural session of the three days Erra Internationa
Published 20 Apr, 2010 12:00am
First semester exams from May 10

First semester exams from May 10

The Controller of Examinations University of Sindh Monday informed that first semester examinations of fresh batches including regular, improver and failure 2010 will be conducted from May 10, 2010 at all institutes and departments of the University of Si
Published 20 Apr, 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 (April 19, 2010).

Published 20 Apr, 2010 12:00am
NBP raises salaries of staff

NBP raises salaries of staff

National Bank of Pakistan (NBP) has announced a new package of increase in pay and perks of its clerical and non-clerical staff after due consultation with CBA unions of the bank, said an announcement here Monday. Under the package the salaries of all cle
Published 20 Apr, 2010 12:00am
Child killed, 11 others injured in blast

Child killed, 11 others injured in blast

One child was killed and 11 other injured in a bomb blast outside a school on Jamrud Road, near Board of Intermediate and Secondary Education (BISE) Peshawar. The injured were rushed to nearby Khyber Teaching Hospital. One of the injured boy succumbed to
Published 20 Apr, 2010 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Monday (April 19, 2010).

Published 20 Apr, 2010 12:00am
KFHA seeks new security arrangement

KFHA seeks new security arrangement

Security concerns at Karachi Fish Harbour have again peaked, as the Karachi Fish Harbour Authority [KFHA] is now looking for new security arrangement to improve the current poor law and order. The rising cases of theft at gunpoint, particularly after suns
Published 20 Apr, 2010 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Monday (April 19, 2010).

Published 20 Apr, 2010 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Monday (April 19, 2010).

Published 20 Apr, 2010 12:00am
Construction of civil court complex demanded

Construction of civil court complex demanded

A ten-member delegation of Hazro tehsil bar called on chief justice Lahore High Court (LHC) Khawaja Muhammad Sharif and informed him that Hazro was the biggest revenue generating tehsil in Attock but was still deprived of a civil court complex. They reque
Published 20 Apr, 2010 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Monday (April 19, 2010).

Published 20 Apr, 2010 12:00am
Khosa assures support to telecom industry

Khosa assures support to telecom industry

Adviser to the Prime Minister on Information Technology, Sardar Muhammad Latif Khosa assured his full support to the telecom industry. He made these remarks in a meeting with a delegation of senior executives of fixed-line telecom operators who called on
Published 20 Apr, 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 10th April, 2010.

Published 20 Apr, 2010 12:00am
NGO to set up 'Career Counselling Centres' in four cities

NGO to set up 'Career Counselling Centres' in four cities

Community Support Programme, a non-governmental organisation working for youth empowerment, will establish "Career Counselling Centres" in 4 main cities including Islamabad, Vehari, Abbottabad and Rawalpindi soon. These centres would be established at the
Published 20 Apr, 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 10th April, 2010.

Published 20 Apr, 2010 12:00am
NCSW's round-table consultation

NCSW's round-table consultation

National Commission on Status of Women (NCSW) will hold a round-table consultation on compliance of "Protection Against Harassment of Women at Workplace Act 2010" on April 22. The objective of this consultation is to bring all the key stakeholders onboard
Published 20 Apr, 2010 12:00am
'Business Earth Talk' on April 22

'Business Earth Talk' on April 22

ACCA and WWF is jointly organising "Business Earth Talk" (BET) on April 22. The following activities will conclude in the discussion forums including 'Water: The Next Carbon' and 'Disclosing Transparency, the Changing Landscape', followed by the ACCA-WWF
Published 20 Apr, 2010 12:00am
Call to start work on hydel, thermal power projects forthwith

Call to start work on hydel, thermal power projects forthwith

Pakistan Mutthida Kisan Mahaz (PMKM) has urged Prime Minister Syed Yousuf Raza Gilani and all the participants of the ongoing energy conference to immediately start construction of hydel power projects and thar coal power projects without further delay to
Published 20 Apr, 2010 12:00am
Power and gas loadshedding hit LTIA

Power and gas loadshedding hit LTIA

Owing to non-availability of electricity and gas the industrial units in Lahore Township Industrial Area (LTIA), are facing closure while thousands workers have already lost their jobs. Chairman Lahore Township Industrial Association (TIA) Chaudhry Zaheer
Published 20 Apr, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (April 19, 2010).

Published 20 Apr, 2010 12:00am
UAE company likely to invest $150 million on fresh water supply to Site

UAE company likely to invest $150 million on fresh water supply to Site

A UAE-based company is likely to inject an investment of at least $150 million shortly to establish 20 mgd desalinated water and wastewater treatment and recycling plant for supply of fresh water to Sindh Industrial Trading Estates (Site) Limited, it is l
Published 20 Apr, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (April 19, 2010).

Published 20 Apr, 2010 12:00am
18th Amendment: 'passage to strengthen federation'

18th Amendment: 'passage to strengthen federation'

Pakistan Muslim League-Nawaz senior leader, Mohammad Pervaiz Malik MNA has said that the passage of 18th Constitutional Amendment will result in strengthening of democracy and harmonising the units of federation. The PML-N leader said here Monday that the
Published 20 Apr, 2010 12:00am
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