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Print - 2010-04-20
Shipping Intelligence

Shipping Intelligence

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

Published 20 Apr, 2010 12:00am
Halliburton posts higher profit

Halliburton posts higher profit

Halliburton Co, the second-largest oilfield services company, posted a higher-than expected quarterly profit on strength in North America and said the industry's outlook had improved. Profit margins across the industry have suffered since companies such a
Published 20 Apr, 2010 12:00am
Halliburton posts higher profit

Halliburton posts higher profit

Halliburton Co, the second-largest oilfield services company, posted a higher-than expected quarterly profit on strength in North America and said the industry's outlook had improved. Profit margins across the industry have suffered since companies such a
Published 20 Apr, 2010 12:00am
US aid cuts hit Egypt's democracy groups

US aid cuts hit Egypt's democracy groups

President Barack Obama has dramatically cut funds to promote democracy in Egypt, a shift that could affect everything from anti-corruption programs to the monitoring of elections. Washington's cuts over the past year - amounting to around 50 percent - hav
Published 20 Apr, 2010 12:00am
Toyota to pay $16.4 million US fine

Toyota to pay $16.4 million US fine

Toyota Motor Corp said on Monday it will pay a record $16.4 million fine to US safety regulators to settle a complaint that the company delayed a recall over defective accelerator pedals. Toyota, however, said it made a "good faith" effort to investigate
Published 20 Apr, 2010 12:00am
ICMAP budget proposals: 'no VAT till unorganised sector is documented'

ICMAP budget proposals: 'no VAT till unorganised sector is documented'

Institute of Cost and Management Accountants of Pakistan on Monday asked the Federal Board of Revenue not to impose Value Added Tax until the unorganised sector is fully documented. In the absence of an efficient, transparent and tested refund mechanism,
Published 20 Apr, 2010 12:00am
ICMAP budget proposals: 'no VAT till unorganised sector is documented'

ICMAP budget proposals: 'no VAT till unorganised sector is documented'

Institute of Cost and Management Accountants of Pakistan on Monday asked the Federal Board of Revenue not to impose Value Added Tax until the unorganised sector is fully documented. In the absence of an efficient, transparent and tested refund mechanism,
Published 20 Apr, 2010 12:00am
EDB clarification

EDB clarification

A Spokesman of Engineering Development Board (EDB) has clarified the news carried by Business Recorder (April 18) under the title "EDB for raise in vehicles depreciation allowance rate" by saying that the Board is still in process to finalise Budge
Published 20 Apr, 2010 12:00am
EDB clarification

EDB clarification

A Spokesman of Engineering Development Board (EDB) has clarified the news carried by Business Recorder (April 18) under the title "EDB for raise in vehicles depreciation allowance rate" by saying that the Board is still in process to finalise Budge
Published 20 Apr, 2010 12:00am
EDB clarification

EDB clarification

A Spokesman of Engineering Development Board (EDB) has clarified the news carried by Business Recorder (April 18) under the title "EDB for raise in vehicles depreciation allowance rate" by saying that the Board is still in process to finalise Budge
Published 20 Apr, 2010 12:00am
No disbursement of Zakat in Punjab for last two years

No disbursement of Zakat in Punjab for last two years

The civil bureaucracy under the Khadim-e-Ala Shahbaz Sharif is playing with widows, orphans and other destitute, as the Punjab government has not disbursed a single penny out of Zakat fund since last two fiscal years, particularly to administrative lethar
Published 20 Apr, 2010 12:00am
Britain to deploy Royal Navy to repatriate stranded travellers

Britain to deploy Royal Navy to repatriate stranded travellers

Britain will deploy Royal Navy ships to repatriate hundreds of thousands of travellers stranded abroad because of the flight ban over large parts of Europe, Prime Minister Gordon Brown said on Monday. HMS Ark Royal, HMS Ocean and HMS Albion would be made
Published 20 Apr, 2010 12:00am
Some European airlines set to close

Some European airlines set to close

Some airlines in Europe are not going to be in business in the next week or two due to the volcanic ash cloud that has affected European air travel, the Association of European Airlines said on Monday. "There are probably 100 to 150 airlines in Europe, so
Published 20 Apr, 2010 12:00am
Hafeez gives six-point formula to mitigate energy crisis

Hafeez gives six-point formula to mitigate energy crisis

Advisor to Prime Minister on Finance, Dr Abdul Hafeez Shaikh here on Monday presented six-point formula to mitigate country's energy crisis on short-term basis while advising for adopting a comprehensive medium-term strategy to end power crisis.
Published 20 Apr, 2010 12:00am
Suicide bomb squad captured in Kabul

Suicide bomb squad captured in Kabul

A senior Afghan official announced Monday the arrest of nine would-be suicide bombers who were allegedly plotting attacks on "strategic targets" in Kabul. The men, aged between 16 and 55, were arrested during a co-ordinated operation that included raids o
Published 20 Apr, 2010 12:00am
FSA between KESC, PSO must to avoid power outages

FSA between KESC, PSO must to avoid power outages

While 30 days-temporary period of fuel supply to Karachi Electric Supply Company (KESC) by Pakistan State Oil (PSO) has completed on Monday, both parties are yet to develop consensus on the long-term 'Fuel Supply Agreement (FSA)'. Though an agreement was
Published 20 Apr, 2010 12:00am
Industrialists oppose two-holiday plan

Industrialists oppose two-holiday plan

Industrialists have asked the government to rethink over its plan to have two weekly holidays, by declaring Saturday as off day. They urged the government to take appropriate measures in consultation with the business community to address the prevailing e
Published 20 Apr, 2010 12:00am
MQM-H activist among four killed in various incidents

MQM-H activist among four killed in various incidents

At least four people including a Mohajir Qaumi Movement-Haqeeqi (MQM) activist and an alleged dacoit were killed in different violent incidents across the city on Monday, police and witnesses said. MQM-H activist body was found in Ibrahim Haidri, Korangi
Published 20 Apr, 2010 12:00am
Management responsible for railways deficit: Senate body

Management responsible for railways deficit: Senate body

Pakistan Railways should be empowered to decide about the fare and freight for the trains so that it can generate revenue to overcome financial crunch. The Standing Committee of Senate on Railways recommended this during its meeting held here Monday at Ra
Published 20 Apr, 2010 12:00am
Security to Abad projects: CCPO appoints ADGIP for liaison

Security to Abad projects: CCPO appoints ADGIP for liaison

CCPO Karachi Waseem Ahmad on Monday assured the Association of Builders and Developers of Pakistan (Abad) to give special protection for carrying out the construction activities. This assurance was given at a meeting, which was held at Abad House.
Published 20 Apr, 2010 12:00am
Traders call upon government to rescue economy

Traders call upon government to rescue economy

Traders and industrialists have hailed the senate for passing the 18th amendment with consensus and hoped that government would now focus on rescuing the ailing economy. The Patron In-chief, Korangi Association of Trade and Industry (Kati), S M Muneer, Ch
Published 20 Apr, 2010 12:00am
19th Amendment to be brought in Senate: Haseeb

19th Amendment to be brought in Senate: Haseeb

Senator Abdul Haseeb Khan hinted that he would bring 19th constitutional amendment in Senate. Speaking at launching of his book "Pakistan Kay Hakim" at a local hotel on Sunday, said that corruption and terrorism have reached their peak. General public is
Published 20 Apr, 2010 12:00am
Another petition filed in Supreme Court against judicial commission

Another petition filed in Supreme Court against judicial commission

The judicial commission envisaged by the 18th Amendment Bill is under severe criticism since its inception and on Monday the Supreme Court received another petition against the move terming the amendment an intervention in the independence of judiciary.
Published 20 Apr, 2010 12:00am
Proper strategy needed to tackle energy crisis: Hafeez

Proper strategy needed to tackle energy crisis: Hafeez

Advisor to Prime Minister on Finance Dr Abdul Hafeez Sheikh said that a proper strategy was required to tackle the energy crisis and also to satisfy the World Bank (WB) and Asian Development Bank (ADB) for securing release $900 million for energy sector.
Published 20 Apr, 2010 12:00am
PTI condemns rampant loadshedding

PTI condemns rampant loadshedding

Pakistan Tehreek-e-Insaf (PTI)'s Central Information Secretary, Omar Safaraz Cheema, deplored the strangulation of the already starved masses at the hands of rampant loadshedding. He expressed these views during a meeting with a delegation of party worker
Published 20 Apr, 2010 12:00am
PTI is being reorganised, restructured: Dr Alvi

PTI is being reorganised, restructured: Dr Alvi

Pakistan Tehreek-e-Insaf (PTI) has dissolved all the organisations of the party right from provincial to the union council level and the party is being restructured and reorganised at different levels. According to Dr Arif Alvi, Secretary General PTI, the
Published 20 Apr, 2010 12:00am
'18 Amendment Bill not ideal'

'18 Amendment Bill not ideal'

Pakistan Muslim League (PML-N) Senior vice President Makhdoom Javed Hashmi has said the 18th Amendment bill is not ideal and has many weak points. He was speaking at the annual prize distribution ceremony of Tameer-e-Seerat College held at Mansoora, here
Published 20 Apr, 2010 12:00am
NACP providing free treatment to 864 AIDS patients

NACP providing free treatment to 864 AIDS patients

The National AIDS Control Programme (NACP) is providing free treatment to 864 HIV/AIDS patients in Pakistan Institute of Medical Sciences (PIMS). National Programme Manager, NACP, Abbas Zaheer said that this service is being provided through an HIV/AIDS T
Published 20 Apr, 2010 12:00am
KESC holds eye camp at Lath Basti

KESC holds eye camp at Lath Basti

As the ground breaking initiative to inaugurate its Community Development Project in the vicinity of Bin Qasim Power Plant, KESC on Monday held an Eye camp, at Lath Basti in collaboration with WWF and LRBT. Bin Qasim is one of the areas of intervention id
Published 20 Apr, 2010 12:00am
UBL Omni Dukaan: branchless banking at its best

UBL Omni Dukaan: branchless banking at its best

United Bank Limited (UBL) formally announced the launch of its unique and unmatched branchless banking service on Monday, under the brand name of UBL Omni. UBL Omni branchless banking now being made available at UBL Omni Dukaans across Pakistan is a major
Published 20 Apr, 2010 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 20 Apr, 2010 12:00am
IPCCI demands reduction in flour prices

IPCCI demands reduction in flour prices

President Indo-Pak Chamber of Commerce and Industry (IPCCI), S M Munir has demanded of the government to reduce Atta (flour) prices, instead of exporting wheat. He was speaking at a dinner hosted by Mehtab-ud-din Chawla here on Monday. Munir urged that bo
Published 20 Apr, 2010 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 20 Apr, 2010 12:00am
BB's assassination: government initiates probe in light of UN report

BB's assassination: government initiates probe in light of UN report

The government has initiated criminal investigations in the light of UN commission's report into the late PPP chairperson Benazir Bhutto assassination and will not hesitate to take action against anyone including former military ruler Pervaiz Musharraf an
Published 20 Apr, 2010 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 20 Apr, 2010 12:00am
LPG price slashed by Rs 3 to Rs 68 per kg

LPG price slashed by Rs 3 to Rs 68 per kg

Marketing companies have slashed price of liquefied petroleum gas (LPG) by Rs 3 to 67 to 68 per kilogram in Karachi and Lahore due to piled up unsold stocks, touching 10,000 metric tons. This was stated by the chairman of FPCCI Standing Committee on LPG a
Published 20 Apr, 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 Apr, 2010 12:00am
Energy crisis: traders warn of civil disobedience movement

Energy crisis: traders warn of civil disobedience movement

Traders and business leaders have finally rolled their sleeves up on unprecedented load shedding and warned Monday a civil disobedience movement soon in case government failed to address their grievances. The former Chairman of Pakistan Poultry Associatio
Published 20 Apr, 2010 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 20 Apr, 2010 12:00am
Businessman appeals for recovery of looted articles

Businessman appeals for recovery of looted articles

Sheikh Abdus Sattar, prominent business man has made a fervent appeal to the chief minister Punjab and IGP Punjab to direct the police concerned to recover his looted goods. "Despite lodging of an FIR, police are deliberately using delaying tactics to rec
Published 20 Apr, 2010 12:00am
Energy conservation at government offices: body to devise plan formed

Energy conservation at government offices: body to devise plan formed

Punjab Chief Minister Muhammad Shahbaz Sharif has constituted a committee to be headed by Senior Advisor to CM Punjab Zulfiqar Ali Khan Khosa to formulate a comprehensive plan for energy conservation in government offices. The committee will soon present
Published 20 Apr, 2010 12:00am
Funds Association of Pakistan

Funds Association of Pakistan

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

Published 20 Apr, 2010 12:00am
Funds Association of Pakistan

Funds Association of Pakistan

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

Published 20 Apr, 2010 12:00am
Ashraf's face saving exercise condemned by National Assembly body

Ashraf's face saving exercise condemned by National Assembly body

National Assembly's Standing Committee on government assurances is fast becoming grip-less as minister for water and officials of the attached departments are paying no heed to its calls for taking up the burgeoning power crisis confronting the nation and
Published 20 Apr, 2010 12:00am
Funds Association of Pakistan

Funds Association of Pakistan

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

Published 20 Apr, 2010 12:00am
FBR fails to issue notices to most of sales tax returns non-filers

FBR fails to issue notices to most of sales tax returns non-filers

The Federal Board of Revenue (FBR) failed to issue statutory notices to most of the non-filers of sales tax and federal excise returns during 2009-10, reflecting serious lack of enforcement actions in the field formations. Sources told Business Recorde
Published 20 Apr, 2010 12:00am
Irsa starts refilling of Tarbela dam

Irsa starts refilling of Tarbela dam

The Indus River System Authority (Irsa) has started refilling of the country's biggest water reservoir Tarbela dam on the mighty Indus river that had reached its dead level of 1,378 feet above the sea on March 15. The water inflow in river Indus has incre
Published 20 Apr, 2010 12:00am
Roundtable on Saft: delegation of Saarc CCI leaves for Kathmandu

Roundtable on Saft: delegation of Saarc CCI leaves for Kathmandu

A 24-members delegation of Saarc Chamber of Commerce and Industry (Saarc CCI) left for Kathmandu on Monday to attend the Roundtable on Safta: a precursor to 16th Saarc Summit and 49th Executive Committee (EC) meeting of Saarc CCI and Business Council Meet
Published 20 Apr, 2010 12:00am
Loan scam accused told to transfer his properties to BoP

Loan scam accused told to transfer his properties to BoP

The Supreme Court on Monday directed Haris Afzal, son of Sheikh Afzal, principal accused of Rs 9 billion Bank of Punjab loan scam to fulfil his commitment of transferring his movable and immovable properties to BoP within three days before the accountabil
Published 20 Apr, 2010 12:00am
Petroleum ministry gives in to bigwigs, lobbyists!

Petroleum ministry gives in to bigwigs, lobbyists!

The Ministry of Petroleum, finding it difficult to resist the pressure of bigwigs and LPG companies' lobbyists, has suspended work on two important gas fields, Kunar-Pasakhi Deep and Tando Allahyar, Business Recorder has learnt.
Published 20 Apr, 2010 12:00am
THE RUPEE: dollar changes marginally

THE RUPEE: dollar changes marginally

The rupee managed to recover against dollar slightly on the local currency market on Monday, experts said. On the interbank market the rupee gained two paisa against dollar for buying at 84.03 while it rose by four paisa at 84.06 for selling, they said. I
Published 20 Apr, 2010 12:00am
Zardari to inaugurate bridge in Bahawalpur

Zardari to inaugurate bridge in Bahawalpur

President Asif Ali Zardari will inaugurate a newly constructed bridge in Bahawalpur this week, besides encouraging Pakistan Peoples Party workers in playing a pivotal role in revitalising the party for the forthcoming local bodies elections, reliable sour
Published 20 Apr, 2010 12:00am
THE RUPEE: dollar changes marginally

THE RUPEE: dollar changes marginally

The rupee managed to recover against dollar slightly on the local currency market on Monday, experts said. On the interbank market the rupee gained two paisa against dollar for buying at 84.03 while it rose by four paisa at 84.06 for selling, they said. I
Published 20 Apr, 2010 12:00am
Mirza says PPP trusts UN Report

Mirza says PPP trusts UN Report

Sindh Interior Minister Zulfiqar Mirza has said that Pakistan Peoples Party (PPP) trusts United Nations findings regarding Benazir Bhutto's assassination and action would be taken against those held responsible in the report. Talking to media men, at the
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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