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Print - 2010-05-13
Seven foreign firms in Iran's energy got US contracts

Seven foreign firms in Iran's energy got US contracts

The US government has obligated almost $880 million in recent years to seven foreign firms that had commercial activity in Iran's energy sector, the US Government Accountability Office said on Wednesday. US lawmakers upset by what they see as companies co
Published 13 May, 2010 12:00am
60 countries commit to cutting armed violence

60 countries commit to cutting armed violence

Sixty countries, including Brazil, Britain and Australia, signed up on Wednesday to a series of commitments to cut and prevent armed violence, which kills more than 2,000 people a day. "By these commitments, governments take a much greater direct involvem
Published 13 May, 2010 12:00am
Hillary scandalising UN

Hillary scandalising UN

The statement of US Secretary of State Hillary Clinton on CBS's "60 minutes" that - ["Somewhere in this (Pakistan) government are people who know where Osama bin Laden is, where Mullah Omar and leadership of the Afghan Taliban is"] - and which has been re
Published 13 May, 2010 12:00am
Wealthy Hong Kong battles over minimum wage

Wealthy Hong Kong battles over minimum wage

Yan starts work every afternoon cleaning clams and washing minced garlic before the hungry crowds descend on her employer's popular Hong Kong seafood restaurant. The waitress, who grew up in a town in nearby Guangdong province on China's mainland, works i
Published 13 May, 2010 12:00am
Comments on VAT Act, 2010

Comments on VAT Act, 2010

The International Monetary Fund (IMF) approved a $7.6 billion Stand-By Arrangement (SBA) programme for Pakistan, to be delivered over 23 months which has been enhanced to $11.3 billion in July 2009. As expected, the IMF approved the enhancement after impo
Published 13 May, 2010 12:00am
Of threats, actions, reactions and consequences

Of threats, actions, reactions and consequences

Following Pakistani-American Faisal Shahzad's failed attempt to detonate a car bomb in the heart of New York city, American officials have started, once again, to pressure Pakistan to 'do more'. First, it was Secretary of State Hillary Clinton who told an
Published 13 May, 2010 12:00am
Cameron to carry the heavy cross

Cameron to carry the heavy cross

After days of uncertainty Britain gets David Cameron as its prime minister, at the head of a coalition government with Nick Clegg's Liberal Democrats, in what is described by a senior commentator as "the toughest hand of cards ever dealt a new prime minis
Published 13 May, 2010 12:00am
Gains in external sector

Gains in external sector

It is fortunate that when the country is facing problems in certain major areas of the economy, the foreign sector of Pakistan is showing satisfactory performance. According to the latest data released by the FBS on 11th May, the country's trade deficit n
Published 13 May, 2010 12:00am
New York cotton futures settle both ways

New York cotton futures settle both ways

Cotton futures settled mixed on Wednesday as the focus of the market turned to spread trade between the spot July and new-crop December cotton contract, analysts said. The benchmark July cotton contract slipped 0.16 cent to end at 80.37 cents per lb, trad
Published 13 May, 2010 12:00am
Malaysian palm oil little changed

Malaysian palm oil little changed

Malaysian palm oil futures were little changed on Wednesday, with early gains erased on lack of demand, but the weakening ringgit currency against US dollar limited losses. By midday, the benchmark July palm oil contract on Bursa Malaysia Derivatives inch
Published 13 May, 2010 12:00am
US sugar down, coffee up

US sugar down, coffee up

US cocoa futures slumped to close down 4 percent at a three-week low Tuesday, while arabica coffee surged and raw sugar dipped. July coffee jumped 2 cents to finish at $1.3615 per lb, trading within Friday's session band. Arabica futures bucked the day's
Published 13 May, 2010 12:00am
US rice weaker

US rice weaker

US rice futures on the Chicago Board of Trade closed steady to weaker on Tuesday, with new-crop months pressured by outlooks for a record-large US 2010 rice crop, traders said. Nearby, old-crop months ended flat, underpinned by technical buying including
Published 13 May, 2010 12:00am
Japan's gasoline stocks hit fresh one-year high

Japan's gasoline stocks hit fresh one-year high

Japan's gasoline inventories edged up over the past two weeks to hit a fresh one-year high, industry data showed on Wednesday, as weak sales during a string of public holidays led to a stockpile build. Gasoline inventories in the world's third-biggest oil
Published 13 May, 2010 12:00am
Tokyo rubber futures fall

Tokyo rubber futures fall

Key Tokyo rubber futures fell on Wednesday as oil prices extended losses on weak demand outlook, while the prospect of a rise in rubber supply put a weight on the futures market. The benchmark rubber contract on the Tokyo Commodity Exchange for October de
Published 13 May, 2010 12:00am
US soyabeans higher

US soyabeans higher

US soyabean futures on the Chicago Board of Trade closed higher Tuesday on a late, fund-driven rally as the market shrugged off a bearish monthly US supply/demand report, traders said. Firm cash soyabean markets added support as a two-week drop in futures
Published 13 May, 2010 12:00am
Liffe sugar, cocoa and coffee rise

Liffe sugar, cocoa and coffee rise

ICE raw sugar futures rose on Wednesday, boosted by signs of a pick-up in physical demand following a slide in prices and increased risk appetite among investors linked to stronger financial markets. Arabica coffee and cocoa price also advanced. ICE July
Published 13 May, 2010 12:00am
US copper drops

US copper drops

US copper futures ended down but away from session lows on Tuesday, tracking a positive reversal on Wall Street, but capped by ongoing concerns about the European debt crisis and a potential overheating in the Chinese economy. Copper for July delivery end
Published 13 May, 2010 12:00am
Shanghai copper rises

Shanghai copper rises

Metals extended losses on Wednesday, with LME copper dipping 1.6 percent against a backdrop of reviving worries about eurozone debt, the potential for China to cool growth and concern about interest rates. Benchmark third-month Shanghai copper rose 0.5 pe
Published 13 May, 2010 12:00am
Copper prices dip

Copper prices dip

Copper prices fell on Wednesday, as the euro fell versus the dollar and sentiment remained fragile as investors fretted over mounting debt problems in the eurozone. A rescue plan by the European Union and the IMF worth 750 billion euros ($952.7 billion) h
Published 13 May, 2010 12:00am
US crude stays lower

US crude stays lower

US crude futures fell for a second straight day on Wednesday on bloated inventories in the world's top consumer, while Brent crude rose on supply concerns. Government data showing another build in US inventories weighed on the front end of the New York Me
Published 13 May, 2010 12:00am
Gold at all-time high in New York

Gold at all-time high in New York

Gold jumped nearly 3 percent to an all-time high at above $1,230 an ounce on Tuesday, as traders sought safety after a $1 trillion European rescue failed to put to rest fears of eurozone debt contagion. After trading modestly higher in choppy early activi
Published 13 May, 2010 12:00am
Gold strikes new record high in Asia

Gold strikes new record high in Asia

Gold struck another record high above $1,230 an ounce on Wednesday on safe haven buying as investors bet the eurozone debt crisis could spread beyond Greece. Jewellers cashed in on the rally and dealers noted a pick up sales of scrap in Asia, which could
Published 13 May, 2010 12:00am
Gold flies to record in European trade

Gold flies to record in European trade

Gold surged to a record high on Wednesday as investors sought safety from the risk of Greece's debt crisis spreading to other countries, with demand for coins, bars and bullion-backed exchange-traded funds all climbing. Spot gold hit $1,244.45 an ounce, a
Published 13 May, 2010 12:00am
US MIDDAY: sugar, coffee and cocoa move up

US MIDDAY: sugar, coffee and cocoa move up

Raw sugar and arabica coffee futures moved higher early Wednesday, along with the commodity complex, while US cocoa inched upward. Arabica coffee futures inched upward, on follow-through strength from Tuesday and outside support as the commodity complex w
Published 13 May, 2010 12:00am
US MIDDAY: soya, corn and wheat down

US MIDDAY: soya, corn and wheat down

CBOT corn futures turned down 1 to 2 cents per bushel near midday on Wednesday as crude oil fell and traders said the sale of US corn to China had already been factored into the corn market. At 11:10 am CDT (1610 GMT), CBOT July corn was down 3/4 cent at
Published 13 May, 2010 12:00am
US MIDDAY: copper jumps

US MIDDAY: copper jumps

US copper futures bounced higher in choppy trade early on Wednesday, with a firmer euro versus the dollar and upbeat industrial output data in Europe offering support, but gains were limited as eurozone debt and Chinese growth concerns lingered.Copper for
Published 13 May, 2010 12:00am
US MIDDAY: gold extends rally

US MIDDAY: gold extends rally

US gold futures rose to hit a record high at above $1,240 an ounce early on Wednesday as economic uncertainties and Greece's debt contagion fears prompted investors to pile into the metal for safety. COMEX June gold up $19, or 1.6 percent, at $1,239.30 an
Published 13 May, 2010 12:00am
CIMA's Global Business Challenge final on May 15

CIMA's Global Business Challenge final on May 15

Final of the Chartered Institute of Management Accountants (CIMA) 'Global Business Challenge' will be held in the city on May 15. At least four winning students would participate in the global final scheduled to be held in Malaysia between August 5 and 6
Published 13 May, 2010 12:00am
IFC expanding training opportunities for small businesses

IFC expanding training opportunities for small businesses

IFC, a member of the World Bank Group, is working to increase support for smaller businesses in Pakistan by increasing the availability of business management training opportunities, which will help businesses grow and create employment in the country.
Published 13 May, 2010 12:00am
'Technology exhibitions vital for industrial growth'

'Technology exhibitions vital for industrial growth'

The technology exhibitions in Pakistan is a need of the hour and a major source of bringing new trends in trade and industry. This was stated by Vice President, Federation of Pakistan Chambers of Commerce and Industry, Zakria Usman.
Published 13 May, 2010 12:00am
Korean Group to install raw material purification plant

Korean Group to install raw material purification plant

Korean J Group of Industries Corporation will install a raw material purification plant in Karachi. CEO Korean J Group of Industries Corporation Chang and business partner Khoaang Said J Group is interested to install a Raw Material Copper War Plants in B
Published 13 May, 2010 12:00am
Two dacoits killed in encounter with police

Two dacoits killed in encounter with police

Two dacoits were killed, an ASI and Constable sustained serious injuries during an encounter occurred between personnel of Punjab Highway Patrol (PHP) and unidentified dacoits on Wednesday. According to details, PHP police received information Tuesday nig
Published 13 May, 2010 12:00am
Wing award ceremony of anti-terrorist course held

Wing award ceremony of anti-terrorist course held

Wing Award Ceremony of Anti Terrorist Course-11 was held here on Wednesday at Airports Security Force (ASF) Academy Karachi. Director General ASF, Brigadier Sahir Aslam Butt, SI (M) was the chief guest of ceremony. He witnessed the demonstration of the An
Published 13 May, 2010 12:00am
Iesco warns defaulters to pay dues till May 20

Iesco warns defaulters to pay dues till May 20

Islamabad Electric Supply Company (Iesco) hereby informs to all private, Government and semi Government defaulters, who are reluctant despite having reminders and notices to pay all their dues till May 20, otherwise their electricity will be disconnected
Published 13 May, 2010 12:00am
Inter-sectoral approach must to control malaria: experts

Inter-sectoral approach must to control malaria: experts

Malaria is 5th killer disease in the country and 2nd major public health problem of Khyber-Pakhtunkhwa (KPK) and that is why there is dire need of adopting inter-sectoral approach to evolve an efficient and effective strategy to combat the disease.
Published 13 May, 2010 12:00am
'Decision to buy 28 new vehicles exposes: PML-N's austerity claims'

'Decision to buy 28 new vehicles exposes: PML-N's austerity claims'

Pakistan Muslim League-Q central leader Moonis Elahi Wednesday said that at a time when the poor cannot even afford two square meals a day, Punjab's N-League government in stark contradiction to its bogus claims of austerity has decided to add 28 more VIP
Published 13 May, 2010 12:00am
Thailand jails: Pakistani prisoners threaten to commit suicide

Thailand jails: Pakistani prisoners threaten to commit suicide

Pakistani prisoners languishing in Thailand jails have threatened to commit suicide if treaty pertaining to the exchange of prisoners was not implemented till next month. Executive Director Global Foundation, Ulfat Kazmi on Wednesday said, "There are abou
Published 13 May, 2010 12:00am
LHC allows girl to marry fiancé on death row

LHC allows girl to marry fiancé on death row

The Lahore High Court (LHC) here Wednesday allowed a girl to marry her fiancé, who is facing death sentence, and ordered Superintendent Kot Lakhpat jail to make arrangements for their marriage inside jail. The court passed these orders in the petition of
Published 13 May, 2010 12:00am
Over 1,600 teachers lose jobs

Over 1,600 teachers lose jobs

Education department here in this remote southern as well as underserved district of Khyber-Pukhtunkhwah was served a crushing blow when around 1613 teachers deputed at various schools were terminated suddenly. Experts fear the move would prove detrimenta
Published 13 May, 2010 12:00am
Government should allow exporters to install power plant: SIMAP

Government should allow exporters to install power plant: SIMAP

Chairman Surgical Instruments Manufacturers Association of Pakistan (SIMAP) Muhammad Zubair Bhatti has said the surgical industry was facing multiple problems due to power crisis, inflation and wrong trade policies. Addressing a news conference here on We
Published 13 May, 2010 12:00am
Turkey assures Pakistan's military leadership of all-out support

Turkey assures Pakistan's military leadership of all-out support

Commander Turkish Land Forces, General Sebahattin Isik Kosaner on Wednesday assured the military leadership of Pakistan full support of his country in development and stability of Pakistan. Turkey will provide full support to Pakistan in dealing with its
Published 13 May, 2010 12:00am
The Weather

The Weather

The weather report on Wednesday (May 12, 2010) and the forecast for Thursday (May 13, 2010).

Published 13 May, 2010 12:00am
ECP chief's directive to Punjab secretary

ECP chief's directive to Punjab secretary

The Secretary Election Commission of Pakistan,(ECP) Ishtiaq Ahmad Khan, has said that former Justice Hamid Ali Mirza, Chief Election Commissioner of Pakistan has ordered the Chief Secretary, Punjab for making necessary arrangements for the patrolling by R
Published 13 May, 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 13 May, 2010 12:00am
PTCL re-launches international plus package

PTCL re-launches international plus package

Pakistan Telecommunication Company Ltd (PTCL) has re-launched its international Plus Package with new exciting rates to provide its customers with best value for their money. Under this package, customers will be offered 500 free minutes to landline and m
Published 13 May, 2010 12:00am
Government working on new Khyber Pakhtunkhwa industrial policy: minister

Government working on new Khyber Pakhtunkhwa industrial policy: minister

The provincial government of Khyber Pakhtunkhwa is working on new industrial policy to attract investors from other provinces of the country. "The province does not have realistic industrial policy and the provincial government has prepared guidelines for
Published 13 May, 2010 12:00am
Pakistan set to negotiate with TPP for its Membership

Pakistan set to negotiate with TPP for its Membership

Pakistan is all set to negotiate with Trans-Pacific Partnership (TPP) regarding its membership in the second round of TPP to be held next month in the United States of America, Business Recorder has learnt. According to sources, Pakistan would atte
Published 13 May, 2010 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 13 May, 2010 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 13 May, 2010 12:00am
PGJDC to set up assaying, hallmarking centres

PGJDC to set up assaying, hallmarking centres

Pakistan Gems and Jewellery Development Company (PGJDC) has recently signed an agreement with the London Assay Office (LAO) for the establishment of state-of-the-art Assaying and Hallmarking Centres in Karachi and Lahore, Chief Executive PGJDC, Bashir Ahm
Published 13 May, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (May 12, 2010).

Published 13 May, 2010 12:00am
Three killed in Peshawar blast

Three killed in Peshawar blast

Three persons were killed and two other injured in remote control blast near Shamshato Afghan refugees' camp, some 30 kilometers in east of the provincial metropolis. According to police the bomb went off on roadside at Urmar village near Shamshato camp w
Published 13 May, 2010 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Wednesday (May 12, 2010).

Published 13 May, 2010 12:00am
SCBA asks CJP to take suo motu notice of May 12 mayhem

SCBA asks CJP to take suo motu notice of May 12 mayhem

The Supreme Court Bar Association (SCBA) on Wednesday demanded of Chief Justice Iftikhar Muhammad Chaudhry to take suo motu notice of May 12, 2007 mayhem in Karachi besides ordering a judicial inquiry into the incident. Though the legal fraternity across
Published 13 May, 2010 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (May 12, 2010).

Published 13 May, 2010 12:00am
May 12 carnage: Courts remain closed

May 12 carnage: Courts remain closed

The legal fraternity on Wednesday, while marking the third anniversary of May 12 carnage, dubbed the former President General Pervez Musharraf (Retd) a "mastermind" of the tragic killings in the city, saying that the government should bring him to justice
Published 13 May, 2010 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (May 12, 2010) and for Thursday (May 13, 2010)
Published 13 May, 2010 12:00am
Government urged to hand over Nepra control to business fraternity

Government urged to hand over Nepra control to business fraternity

Government should either scrap off National Electric Power Regulatory Authority (NEPRA) or hand over its administration to the business fraternity, said President, India - Pakistan Chamber of Commerce (IPCC) S. M. Munir in a meeting of Citizens Social For
Published 13 May, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (May 12, 2010).

Published 13 May, 2010 12:00am
'Issue of VAT on services to be resolved soon'

'Issue of VAT on services to be resolved soon'

The federal government would soon resolve the issue of value-added tax (VAT) collection on services between Sindh and the Centre by equally distributing total services listed in the Federal Excise Act 2005.
Published 13 May, 2010 12:00am
Salient features of newly-designed currency notes highlighted

Salient features of newly-designed currency notes highlighted

University of Faisalabad (UAF) is putting efforts to come up with a vision of a 'community builder', and used to hold various activities on campus thereby to educate and extend necessary services to all segments of the society to ease out their problems.
Published 13 May, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 12, 2010).

Published 13 May, 2010 12:00am
APPSA approaches LHC against two weekly holidays

APPSA approaches LHC against two weekly holidays

All Pakistan Private Schools Alliance (APPSA) through its president on Wednesday approached the Lahore High Court against weekly two holidays in schools following the energy conservation policy of the government.
Published 13 May, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 12, 2010).

Published 13 May, 2010 12:00am
Lifting of ban on pillion riding demanded

Lifting of ban on pillion riding demanded

The Students Alliance Karachi (SAK) organised a protest rally against the ban of pillion riding in the city and demanded to lift the ban for the students, here on Tuesday.
Published 13 May, 2010 12:00am
First year's performance of STEVTA highlighted

First year's performance of STEVTA highlighted

Following the successful models of transformation of Technical Education and Vocational Training in Asia Pacific Region, the government of Sindh has established STEVTA to effectively manage and regulate technical education and vocational training institut
Published 13 May, 2010 12:00am
THE RUPEE: dollar recovers

THE RUPEE: dollar recovers

Rates fell on the local currency market on Wednesday as the rupee gave up overnight gains against dollar but it inched up versus euro, money experts said. On the interbank market fluctuation in the rupee value appeared like the hide-and-seek game. One day
Published 13 May, 2010 12:00am
HRD project for Balochistan approved

HRD project for Balochistan approved

The government has approved the project of Human Resource Development (HRD) for Balochistan by introducing 7 'Matric Tech' schools to produce skilled Labours/Human Resource, who will be sent abroad to procure foreign remittance, Federal Minister for Labou
Published 13 May, 2010 12:00am
THE RUPEE: dollar recovers

THE RUPEE: dollar recovers

Rates fell on the local currency market on Wednesday as the rupee gave up overnight gains against dollar but it inched up versus euro, money experts said. On the interbank market fluctuation in the rupee value appeared like the hide-and-seek game. One day
Published 13 May, 2010 12:00am
Technical, vocational education of youth: BISP, Navtec to ink MoU

Technical, vocational education of youth: BISP, Navtec to ink MoU

BISP and Navtec will sign a MoU regarding the technical and vocational education of youth belonging to poor and needy families. First phase of joint-programme would be launched in 18 districts, which would be financed by the BISP out of its budget to supp
Published 13 May, 2010 12:00am
US provides $45 million to support higher education

US provides $45 million to support higher education

The United States has provided $45 million to support universities in the areas affected by violent extremism to help students of these areas continue their higher education. The US Ambassador to Pakistan Anne W. Patterson signed the agreement on Wednesda
Published 13 May, 2010 12:00am
'No sustainable growth without fortifying competition regime'

'No sustainable growth without fortifying competition regime'

Former Finance Minister Dr Salman Shah said Wednesday that no sustained higher economic growth is possible without strengthening a competition regime in the country. He was addressing on the last day of two-day international conference on Challenges in Im
Published 13 May, 2010 12:00am
Pentagon says military response to cyber attack possible

Pentagon says military response to cyber attack possible

The Pentagon would consider a military response in the case of a cyber attack against the United States, a US defence official said on Wednesday. Asked about the possibility of using military force after a cyber assault, James Miller, under-secretary of d
Published 13 May, 2010 12:00am
Pentagon says military response to cyber attack possible

Pentagon says military response to cyber attack possible

The Pentagon would consider a military response in the case of a cyber attack against the United States, a US defence official said on Wednesday. Asked about the possibility of using military force after a cyber assault, James Miller, under-secretary of d
Published 13 May, 2010 12:00am
Privatisation Commission, AWT sign deal

Privatisation Commission, AWT sign deal

The Secretary Privatisation Commission Shahab Khawaja and the Chief Operating Officer Army Welfare Trust (AWT) Major General Abdul Jabbar Bhatti (Retd) on Wednesday signed an agreement for the settlement of long due proceeds amounting to Rs,874.062 millio
Published 13 May, 2010 12:00am
Privatisation Commission, AWT sign deal

Privatisation Commission, AWT sign deal

The Secretary Privatisation Commission Shahab Khawaja and the Chief Operating Officer Army Welfare Trust (AWT) Major General Abdul Jabbar Bhatti (Retd) on Wednesday signed an agreement for the settlement of long due proceeds amounting to Rs,874.062 millio
Published 13 May, 2010 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (May 12, 2010).

Published 13 May, 2010 12:00am
Privatisation Commission, AWT sign deal

Privatisation Commission, AWT sign deal

The Secretary Privatisation Commission Shahab Khawaja and the Chief Operating Officer Army Welfare Trust (AWT) Major General Abdul Jabbar Bhatti (Retd) on Wednesday signed an agreement for the settlement of long due proceeds amounting to Rs,874.062 millio
Published 13 May, 2010 12:00am
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