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Print - 2010-05-19
Wall Street recovers

Wall Street recovers

US stocks staged a comeback in late trading on Monday as bargain hunters snapped up beaten-down shares, setting aside concerns that efforts to tackle the eurozone debt crisis could stifle the global economy. Retailers Wal-Mart Stores Inc and Target Corp a
Published 19 May, 2010 12:00am
European CDS recover

European CDS recover

European credit default swaps tightened on Tuesday, tracking higher stocks and supported by hopes that euro zone finance ministers will soon fix details of the region's 750 billion euro ($924 billion) rescue plan. By 0845 GMT, the investment-grade Markit
Published 19 May, 2010 12:00am
European CDS recover

European CDS recover

European credit default swaps tightened on Tuesday, tracking higher stocks and supported by hopes that euro zone finance ministers will soon fix details of the region's 750 billion euro ($924 billion) rescue plan. By 0845 GMT, the investment-grade Markit
Published 19 May, 2010 12:00am
Treasuries extend rise

Treasuries extend rise

US government bonds edged higher on Monday, after a brief nod toward profit-taking, as worries that the eurozone's debt crisis would jeopardise growth on that continent encouraged investors to hold on to safe-haven Treasuries. The modest buying followed F
Published 19 May, 2010 12:00am
Treasuries extend rise

Treasuries extend rise

US government bonds edged higher on Monday, after a brief nod toward profit-taking, as worries that the eurozone's debt crisis would jeopardise growth on that continent encouraged investors to hold on to safe-haven Treasuries. The modest buying followed F
Published 19 May, 2010 12:00am
Indian shares rise

Indian shares rise

Indian shares shrugged off a sluggish start and nudged higher for the first time in three sessions on Tuesday, powered by engineering conglomerate Larsen & Toubro. Firmer world markets and signs eurozone finance ministers are making progress on the detail
Published 19 May, 2010 12:00am
Middle East markets: Rajhi, Samba lift Saudi stocks

Middle East markets: Rajhi, Samba lift Saudi stocks

Al-Rajhi Bank and Samba Financial Group rose on Tuesday after Credit Suisse raised its price targets for the Saudi lenders, helping the kingdom's bourse end higher. Most other Middle East bourses also advanced, mirroring international gains, while oil ral
Published 19 May, 2010 12:00am
Chinese and Hong Kong markets rise

Chinese and Hong Kong markets rise

China's key stock index closed 1.4 percent higher on Tuesday, bouncing from a fresh one-year intraday low hit during the morning as property and banking stocks staged a technical rebound. In Hong Kong, shares extended gains in the afternoon session, bouye
Published 19 May, 2010 12:00am
Seoul shares fall

Seoul shares fall

Seoul shares extended losses on Tuesday, failing to maintain a rebound at the open, as losses in some technology stocks and auto makers weighed amid fragile sentiment on the eurozone's lingering debt problems. Foreign investors continued net selling for a
Published 19 May, 2010 12:00am
UK's top share index rises

UK's top share index rises

Banks and commodity-linked stocks pushed Britain's top share index higher on Tuesday, with risk appetite returning among investors as eurozone debt fears ebbed, and Man Group recouping the previous session's losses. The FTSE 100 ended up 44.80 points, or
Published 19 May, 2010 12:00am
Dollar fund stress levels at highest since August

Dollar fund stress levels at highest since August

Stress levels in dollar money markets reached their highest levels since August 2009 on Tuesday as investors fretted that the European sovereign debt crisis needed more action to calm markets. Markets' biggest concern is whether governments can tackle lon
Published 19 May, 2010 12:00am
Sterling dips versus dollar

Sterling dips versus dollar

Sterling dipped versus the dollar on Tuesday as investors shrugged off stronger-than-expected UK inflation data, which failed to dent expectations that interest rates will probably stay at very low levels for some time. Data showed Britain's annual consum
Published 19 May, 2010 12:00am
Euro dips in Asia

Euro dips in Asia

The euro dipped on Tuesday, its trend seen weak despite a rebound from a four-year trough, with investor jitters persisting over the eurozone's fiscal woes and concerns that austerity steps could hurt the region's growth. The single currency edged lower,
Published 19 May, 2010 12:00am
Euro edges up in London

Euro edges up in London

The euro edged up from the previous day's four-year low in choppy trade on Tuesday as investors took heart from news that financial aid for Greece was coming through as planned. Officials said Greece received a 14.5 billion euro emergency loan from the Eu
Published 19 May, 2010 12:00am
Tuesday's midday trade: dollar gains versus euro

Tuesday's midday trade: dollar gains versus euro

The dollar rose against the euro on Tuesday, reversing the single currency's earlier gains, as investors grew more risk averse and sought safety in both the dollar and the yen. There was no fundamental reason for the moves, analysts said, but a breakdown
Published 19 May, 2010 12:00am
Euro rallies in New York

Euro rallies in New York

The euro rallied from a four-year low against the dollar on Monday, helped by a turnaround in stocks late in the session which temporarily offset fears that eurozone austerity measures could trigger a downturn in the region. As the euro began to rise, inv
Published 19 May, 2010 12:00am
Australian dollar struggles

Australian dollar struggles

The Australian dollar struggled on Tuesday and swap rates fell after minutes to the Australia central bank's last policy meeting suggested interest rates may not rise for a while yet. The Australian dollar fell as far as $0.8710 after minutes to the Reser
Published 19 May, 2010 12:00am
Swiss franc hovers near all-time high

Swiss franc hovers near all-time high

The Swiss franc hovered close to an all-time high against the euro on Tuesday with only Swiss National Bank interventions preventing an even sharper rise as the eurozone crisis weighed heavily on the common currency. At 0652 GMT, the franc was trading lar
Published 19 May, 2010 12:00am
Indian rupee seesaws

Indian rupee seesaws

The Indian rupee seesawed on Tuesday tracking a choppy share market and the dollar's moves versus majors but managed to post marginal gains on the day as traders were optimistic about the euro's recovery. The partially convertible rupee closed at 45.60/61
Published 19 May, 2010 12:00am
Asian currencies: won rises, peso dips

Asian currencies: won rises, peso dips

The South Korean won rose on Tuesday on renewed buying by exporters following a selloff the previous day, while the Philippine peso tracked the euro's weakness amid fears over the eurozone's fiscal woes. The euro remained under pressure despite a rebound
Published 19 May, 2010 12:00am
Dollar/yuan forwards tumble

Dollar/yuan forwards tumble

Offshore dollar/yuan forwards fell across the curve late on Tuesday to imply more yuan appreciation in future, as a correction of the dollar in global markets after its 6-percent rise this month sparked some fresh dollar short selling in the dollar/yuan m
Published 19 May, 2010 12:00am
Iran arrests Mousavi's long-serving bodyguard

Iran arrests Mousavi's long-serving bodyguard

Iranian authorities have arrested the chief bodyguard of opposition leader Mir Hossein Mousavi, his website said Tuesday, as hard-liners renewed calls for tougher action against the former premier. "Ahmad Yazdan-Far, Mousavi's chief bodyguard for 27 years
Published 19 May, 2010 12:00am
West starts to get Taliban peace push: Karzai

West starts to get Taliban peace push: Karzai

Afghan President Hamid Karzai said on Tuesday the West was starting to realise the war in Afghanistan cannot be won militarily and that the peace process must involve reaching out to the Taliban. More than nine years after their ouster from power by US-ba
Published 19 May, 2010 12:00am
China targets Tibet artists, intellectuals

China targets Tibet artists, intellectuals

China is cracking down on Tibetan intellectuals and artists who have sought to open up discussion of the future of their region after unrest that spread across the area in Spring 2008, an overseas activist group said on Tuesday.
Published 19 May, 2010 12:00am
Thai government dismisses talks to end deadly protests

Thai government dismisses talks to end deadly protests

The Thai government dismissed proposed peace talks on Tuesday to end a nine-week crisis that has killed 67 people and threatened to tear the country apart, calling on thousands of anti-government protesters to disperse.
Published 19 May, 2010 12:00am
EU and Mercosur relaunch trade talks, farmers opposed

EU and Mercosur relaunch trade talks, farmers opposed

The European Union and the Mercosur group of four South American countries relaunched talks on Monday aimed at creating the world's largest trading bloc despite warnings that a deal could hurt EU farmers. Interest in creating a free-trade zone representin
Published 19 May, 2010 12:00am
EU recession slashed 2009 carbon emissions

EU recession slashed 2009 carbon emissions

The European recession last year slashed more than 11 percent off climate-warming emissions from heavy industry, the European Union's executive said on Tuesday. The EU said carbon dioxide emissions from more than 12,600 installations regulated by its Emis
Published 19 May, 2010 12:00am
Cannes film market enthusiasm tempered by caution

Cannes film market enthusiasm tempered by caution

As the Cannes film festival entered its second half on Tuesday, players in the market for buying and selling movies looked ahead with cautious optimism that tough times may be near an end. The forecast for brighter skies in this French Riviera town was un
Published 19 May, 2010 12:00am
Russia's Khodorkovsky begins hunger strike

Russia's Khodorkovsky begins hunger strike

Jailed former Russian oil tycoon Mikhail Khodorkovsky is on hunger strike to protest against what he says is an illegal decision to extend his detention in a Moscow prison, his spokesman said on Tuesday. Khodorkovsky, once Russia's richest man, was arrest
Published 19 May, 2010 12:00am
Two US senators in jeopardy on big voting day

Two US senators in jeopardy on big voting day

Two veteran US senators faced potential career-ending challenges on Tuesday, as voters cast ballots in four state primary contests amid widespread anti-Washington anger ahead of November's midterm elections. Democrats Arlen Specter of Pennsylvania and Bla
Published 19 May, 2010 12:00am
Banned by Israel, Chomsky gives lecture by video link

Banned by Israel, Chomsky gives lecture by video link

Renowned Jewish-American scholar and activist Noam Chomsky, who was barred from the West Bank by Israel earlier this week, on Tuesday delivered a lecture to Palestinian students by video link from Jordan. Around 100 students packed into a room at Bir Zeit
Published 19 May, 2010 12:00am
Poland to unveil US Patriots missile

Poland to unveil US Patriots missile

Poland will unveil its first US Patriot-type missiles battery at a military base in the northern town of Morag on May 26, a Polish defence ministry spokesman said Tuesday. "Ceremonies associated with the first rotation of the Patriot missile battery will
Published 19 May, 2010 12:00am
China's one-time richest man jailed for 14 years

China's one-time richest man jailed for 14 years

China's one-time richest man and the founder of a major retail chain was jailed for 14 years on Tuesday for bribery, insider trading and illegal business dealings, state media reported. Huang Guangyu was also fined 600 million yuan ($88 million) and had a
Published 19 May, 2010 12:00am
Russia woos Ukraine on security bloc

Russia woos Ukraine on security bloc

Russian President Dmitry Medvedev told Ukraine on Tuesday that the doors to a Russia-led security bloc were always open and pledged that the Russian navy based in a Ukrainian port would never attack its neighbours. The Kremlin leader sought to draw Russia
Published 19 May, 2010 12:00am
Japan says not ready to finalise US base row deal with Clinton

Japan says not ready to finalise US base row deal with Clinton

Japan won't be ready to resolve a row over a controversial US airbase when Secretary of State Hillary Clinton visits Japan later this week, Foreign Minister Katsuya Okada said Tuesday. Clinton will visit Japan on Friday, mainly to discuss a sunken South K
Published 19 May, 2010 12:00am
France frees Iranian killer amid deal controversy

France frees Iranian killer amid deal controversy

An Iranian assassin walked free from a French prison and flew home on Tuesday amid controversy over whether his release was tied to that of a French academic freed by Tehran three days earlier. Ali Vakili Rad had served 16 years for stabbing and stranglin
Published 19 May, 2010 12:00am
Tarballs in Florida stoke fears of oil slick spread

Tarballs in Florida stoke fears of oil slick spread

Fears that the huge Gulf of Mexico oil spill was spreading through ocean currents flared on Tuesday after tarballs were found on Florida's Key West, while energy giant BP Plc worked to capture more of the leaking crude.
Published 19 May, 2010 12:00am
Seoul to blame North Korea for warship attack

Seoul to blame North Korea for warship attack

South Korea will formally blame North Korea for launching a torpedo at one of its navy ships in March, killing 46 sailors, The Washington Post reported on Tuesday. Citing unidentified US and East Asian officials.
Published 19 May, 2010 12:00am
North Korea calls rare parliament session, silent on agenda

North Korea calls rare parliament session, silent on agenda

North Korea has called a rare second session of parliament, with a possible major announcement in store, two months after a meeting which changed the constitution to boost leader Kim Jong-il's powers. A brief dispatch by the official KCNA news agency did
Published 19 May, 2010 12:00am
German girls, Chinese workers held in Yemen freed

German girls, Chinese workers held in Yemen freed

Two young German girls held hostage for nearly a year in Yemen have been rescued and taken to neighbouring Saudi Arabia, Riyadh said on Tuesday, but a family spokesman said their toddler brother was likely dead. Separately, Yemeni and Chinese officials sa
Published 19 May, 2010 12:00am
Nigeria's parliament backs Muslim as new vice-president

Nigeria's parliament backs Muslim as new vice-president

Both houses of Nigeria's parliament on Tuesday voted to approve Namadi Sambo, a northern Muslim, as new vice president of the country, maintaining a delicate religious and geographical balance in power. The Senate was the first to clear Sambo, 55, governo
Published 19 May, 2010 12:00am
Europe flooding toll rises

Europe flooding toll rises

Flooding across central Europe caused more disruption with three more bodies found in Poland and Slovakia, taking the total death toll to nine, authorities announced Tuesday. In Poland, an eight-year-old boy drowned in the southern city of Krakow and the
Published 19 May, 2010 12:00am
Palestinians, Germany start state-building partnership

Palestinians, Germany start state-building partnership

The Palestinian Authority launched its first high-level partnership for state-building with Germany Tuesday and said it hoped to start similar alliances with other governments. Premier Salam Fayyad said the German-Palestinian Steering Committee bringing t
Published 19 May, 2010 12:00am
Chavez government takes over Venezuela forex trade

Chavez government takes over Venezuela forex trade

Venezuela's government took control of currency trading on Tuesday by promising a band for dollar exchanges and banning brokerages from an unofficial market where the local bolivar has bombed this year. Seeking once again to rein in a currency that has be
Published 19 May, 2010 12:00am
Air fares: abolish market division, CCP tells government

Air fares: abolish market division, CCP tells government

The Competition Commission of Pakistan (CCP) has issued a policy note to the federal government recommending that the bilateral Air Services Agreement of 1972 between Pakistan and Saudi Arabia be amended to address competition concerns.
Published 19 May, 2010 12:00am
Some OGDCL officials may be sacked

Some OGDCL officials may be sacked

Managing Director (MD) Oil and Gas Development Company Limited (OGDCL) Shah Mahboob Alam has decided to sack some officials working at key posts. They were appointed during the tenure of the then MD, Zahid Hussain, Business Recorder has learnt.Sour
Published 19 May, 2010 12:00am
ECC decisions may push up sugar price by Rs 5 per kg: meeting on May 20

ECC decisions may push up sugar price by Rs 5 per kg: meeting on May 20

The decision to withdraw the facility of 8 percent GST on sugar allowed during Ramazan and ending the practice of fixing assessable value of sugar, expected to be taken by the Economic Co-ordination Committee (ECC) on Thursday (tomorrow), would increase s
Published 19 May, 2010 12:00am
US security advisor, CIA director to meet Pakistani leaders

US security advisor, CIA director to meet Pakistani leaders

US President Barack Obama has dispatched two of his most senior national security aides to Pakistan in the wake of the failed Times Square car bombing, a White House official said on Tuesday. US national security advisor General James Jones and CIA Direct
Published 19 May, 2010 12:00am
New York cotton settles higher

New York cotton settles higher

Cotton futures closed higher on Tuesday on improved demand expectations from China and broad gains in soft commodities, traders said. The key July cotton contract climbed 1 cent to end at 82.20 cents per lb, trading from 81.35 to 82.44 cents. Volume trade
Published 19 May, 2010 12:00am
US rice weaker

US rice weaker

US rice futures closed lower on Monday, declining for the third straight day on technical selling and prospects for a bumper US 2010 rice crop. CBOT July down 18 cents at $11.62-1/2 per hundredweight. Manila sees rice output down, imports unlikely.
Published 19 May, 2010 12:00am
New York sugar and coffee weak

New York sugar and coffee weak

US cocoa futures finished up a shade Monday, reversing after dropping to a 10-week low, while raw sugar and arabica coffee closed lower. July coffee dropped 1.75 cents to settle at $1.3255 per lb. Arabica coffee futures fell in moderate volume on outside
Published 19 May, 2010 12:00am
Malaysian palm oil higher

Malaysian palm oil higher

Malaysian palm oil futures closed higher on Tuesday, tracking a rebound in crude oil, traders said, after hitting the lowest level in nearly four months the previous day. Exports of Malaysian palm oil products were expected to climb further, also lifting
Published 19 May, 2010 12:00am
US soyabean drops

US soyabean drops

US soyabean futures closed lower on Monday, weighed down by a firm dollar, lower crude oil, plentiful global stockpile of oilseeds and outlooks for a potential bumper 2010 US soyabean crop. CBOT July down 12-1/2 cents at $9.41 per bushel; new-crop Novembe
Published 19 May, 2010 12:00am
Liffe sugar, cocoa and coffee up

Liffe sugar, cocoa and coffee up

ICE raw sugar futures rallied by around 6 percent on Tuesday, as traders focused on easing worries over euro zone debt and on the potential for disruption to Thai exports from political unrest. London August white sugar was up $12.50 or 2.7 percent at $4
Published 19 May, 2010 12:00am
Tokyo rubber futures jump

Tokyo rubber futures jump

Tokyo rubber futures rose 3.6 percent on Tuesday, rebounding from a five-month low the previous day on the back of strength in other commodities, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for October delivery rose 9.2 yen
Published 19 May, 2010 12:00am
US copper at 15-week low

US copper at 15-week low

US copper futures plunged almost 7 percent to settle at 15-week lows on Monday as signs that China's economic growth may have peaked spooked markets already fearing potential sovereign defaults in Europe. Copper for July delivery finished down 20.20 cents
Published 19 May, 2010 12:00am
Shanghai copper rises

Shanghai copper rises

London copper jumped 2.7 percent on Tuesday as investors picked bargains after the previous session's sell-off, but technical pointers suggest fresh weakness and sentiment on the fundamental side was also brittle. Shanghai metals failed to keep up with th
Published 19 May, 2010 12:00am
Base metals spring back

Base metals spring back

Industrial metals rallied on Tuesday, bouncing from steep losses in the previous session, but looked vulnerable due to ongoing worries about austerity steps in the eurozone and policies that could cool Chinese growth. Copper for three-months delivery on t
Published 19 May, 2010 12:00am
US oil futures fall

US oil futures fall

US oil futures fell on Tuesday, ending at a seven-month low as Europe's debt problems kept feeding risk aversion among investors, pulling the euro and oil back from early gains. US crude for June delivery fell 67 cents, or 0.96 percent, to settle at $69.4
Published 19 May, 2010 12:00am
Gold flat in New York

Gold flat in New York

US gold futures ended flat on Monday as the market took a breather after the previous session's rally to record highs, but sovereign risks and volatile currency markets provided underlying safe-haven demand. COMEX June gold settled up 30 cents at $1,228.1
Published 19 May, 2010 12:00am
Gold firms below all-time high in Asia

Gold firms below all-time high in Asia

Gold edged up on Tuesday but held around $20 below a lifetime high struck last week, while another increase in holdings in the world's largest gold-backed ETF showed investors were keeping faith with the metal.
Published 19 May, 2010 12:00am
Gold falls in Europe

Gold falls in Europe

Gold fell on Tuesday and assets seen as higher risk like stocks and industrial commodities rose on hopes eurozone officials are making progress on a package of measures to resolve the region's debt crisis. Gold recovered from earlier lows below $1,210 an
Published 19 May, 2010 12:00am
US MIDDAY: coffee, sugar and cocoa up

US MIDDAY: coffee, sugar and cocoa up

Arabica coffee, raw sugar and US cocoa futures moved higher early Tuesday, as the commodity complex retraced Monday's sharp losses. Arabica coffee futures recouped Monday's losses, catching the wave from the firm commodity complex as investors acted with
Published 19 May, 2010 12:00am
US MIDDAY: corn and soya rise

US MIDDAY: corn and soya rise

Soyabean and corn futures rose early at the Chicago Board of Trade on Tuesday in a technical rebound following declines on Monday, traders said. Rising crude oil prices and spillover strength from gains in equities markets added support, traders said.
Published 19 May, 2010 12:00am
US MIDDAY: copper up over four percent

US MIDDAY: copper up over four percent

US copper futures rallied over 4 percent early on Tuesday morning, driven by dollar weakness and bargain buyers, many of whom took advantage of Monday's steep sell-off to re-establish positions below $3.00 per lb, traders said.
Published 19 May, 2010 12:00am
US MIDDAY: gold drops

US MIDDAY: gold drops

US gold futures dropped on Tuesday, having hit a one-week low earlier as safe-haven demand diminished on calmer currency markets. COMEX June gold down $11.20 at $1,216.90 an ounce at 10:38 am EDT (1438 GMT). Ranged from $1,226.80 to $1,206.60 - lowest sin
Published 19 May, 2010 12:00am
PPP, MQM to strengthen democracy, serve masses

PPP, MQM to strengthen democracy, serve masses

A delegation of Muttahida Qaumi Movement (MQM) met President Asif Ali Zardari at Bilawal House here on Tuesday and discussed matters relating to development in the province and implementations of decisions of the Core Committee. Sindh Governor Dr Ishratul
Published 19 May, 2010 12:00am
Shahbaz approves appointment of Danish schools, CESA members

Shahbaz approves appointment of Danish schools, CESA members

The Chief Minister Punjab Muhammad Shahbaz Sharif has approved the appointment of members of Danish schools and Centre of Excellence School Authority(CESA). This was revealed in information of DGPR received here Tuesday.
Published 19 May, 2010 12:00am
Punjab government to spend Rs 12.9 billion on CDWA project

Punjab government to spend Rs 12.9 billion on CDWA project

Punjab government has undertaken "Clean Drinking Water for All" (CDWA) project at a cost of Rs 12.9 billion under which 3,494 water purification plants would be installed in each union council of the province, senior advisor to Chief Minister, Sardar Zulf
Published 19 May, 2010 12:00am
Zardari briefed on federally funded Sindh projects

Zardari briefed on federally funded Sindh projects

President Asif Ali Zardari was given a detailed briefing on federally funded projects under PSDP and water projects by Wapda for Sindh at the Chief Minister's House here on Tuesday. The briefing about mega development projects under PSDP for Sindh was giv
Published 19 May, 2010 12:00am
PIA must conduct itself responsibly

PIA must conduct itself responsibly

Jinnah International Airport, Karachi, flight number PK306 from Karachi to Lahore begins the push back at 7 pm and the Prophet's (PBUH) prayer before travel is played on the video screens of the aircraft. Then the stewardess makes the announcement to intr
Published 19 May, 2010 12:00am
Tainted Rudd: Australia's Labour mulls new leader

Tainted Rudd: Australia's Labour mulls new leader

Australians are beginning to think the unthinkable: Kevin Rudd could be the first prime minister in 80 years to be voted out after just one term in government. The Labour leader, last year trumpeted as the most popular prime minister since opinion polling
Published 19 May, 2010 12:00am
Good Morning: Fake degrees mirror a deeper malaise

Good Morning: Fake degrees mirror a deeper malaise

How really worried, if at all, should Pakistani society be about the embarrassment of fake academic degrees, a subject that appears to revolve around Jamshed Dasti, who resigned his National Assembly seat (NA-178) but regained it on Saturday in the by-ele
Published 19 May, 2010 12:00am
Let the Constitution prevail

Let the Constitution prevail

While the country is trying to cope with some of the most crucial issues in its history, an unseemly stand-off between the executive and judiciary promises to create a crisis of unwieldy proportions. Differences that arose in the wake of the verdict on th
Published 19 May, 2010 12:00am
Showing the red rag

Showing the red rag

Gilani cabinet's most powerful member, Interior Minister Rehman Malik, had his conviction, in absentia, confirmed by a special bench of the Lahore High Court on Monday. He had absconded following two NAB references against him in 1994, but was sentenced i
Published 19 May, 2010 12:00am
World Bank's withdrawal from Thar coal

World Bank's withdrawal from Thar coal

The World Bank, it was reported exclusively in Business Recorder, has withdrawn its support for the Thar coal project, considered by successive Pakistani governments as critical to meeting the country's energy shortfall.
Published 19 May, 2010 12:00am
Steps finalised to cope with any eventuality during monsoon

Steps finalised to cope with any eventuality during monsoon

Necessary precautionary arrangements have been finalised to cope with any eventuality during the monsoon season in Sialkot district. Under the arrangements Sialkot district has been divided into 34 sectors and 17 sub-sectors. This was disclosed in a meeti
Published 19 May, 2010 12:00am
International and domestic industry's concerns discussed

International and domestic industry's concerns discussed

The high-ranking officers of the Punjab government met with representatives of both international and domestic industry to discuss their various concerns, especially to check the violation of intellectual property rights (IPR) and to institutionalise a me
Published 19 May, 2010 12:00am
'Awan to appear before court to present government's views on NRO'

'Awan to appear before court to present government's views on NRO'

Advisor to Prime Minister on Information Technology Sardar Latif Khan Khosa has said that Federal Law Minister Dr Babar Awan will appear before the court to present the governments point of view on NRO. He said that the government will not write any lette
Published 19 May, 2010 12:00am
Defence ministry told to take steps for recovery of two men

Defence ministry told to take steps for recovery of two men

The Lahore High Court (LHC) Chief Justice here on Tuesday directed defence ministry to take necessary steps for recovery of two men, allegedly abducted by secret agencies till May 28. Chief Justice Khawaja Muhammad Sharif was hearing two identical petitio
Published 19 May, 2010 12:00am
SHC grants protective bail to Rehman

SHC grants protective bail to Rehman

A Division Bench of Sindh High Court on Tuesday allowed a protective bail upto May 22 to Interior Minister Rehman Malik in a sum of Rs 100,000 in two cases against him. The Bench comprising Justice Amir Hani Muslim and Justice Syed Zakir Hussain heard an
Published 19 May, 2010 12:00am
'People of Hazara may launch disobedience movement'

'People of Hazara may launch disobedience movement'

Former Speaker National Assembly, Gohar Ayub Khan has warned that the people of Hazara will launch civil disobedience movement, if the government did not respect voice of the people of Hazara. Talking to reporters here today, Gohar demanded of the governm
Published 19 May, 2010 12:00am
PIA travel agents awarded for achieving high sales

PIA travel agents awarded for achieving high sales

Managing Director PIA, Captain Muhammad Aijaz Haroon said that PIA has registered a growth of 13.5 percent in revenue per passenger per kilometre over 2009 with a seat factor of 78.4 percent against 74.1 percent during first quarter of 2009. He was addres
Published 19 May, 2010 12:00am
FAP protests proposed imposition of VAT

FAP protests proposed imposition of VAT

Farmers Associates Pakistan (FAP) has strongly condemned government proposal to impose value -added tax (VAT) on agriculture products and related inputs and warned countrywide protests against it. In a specially convened meeting, Dr M Tariq Bucha, Directo
Published 19 May, 2010 12:00am
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