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Print - 2010-12-08
Pak-Afghan economic ties

Pak-Afghan economic ties

Prime Minister Yousuf Raza Gilani, while addressing the leaders and chief executive officers of the Afghan corporate sector and business community, at a breakfast meeting in Kabul, urged them to develop win-win scenarios.
Published 08 Dec, 2010 12:00am
OGDCL awards gold medals in recognition of outstanding services

OGDCL awards gold medals in recognition of outstanding services

Two officers of OGDCL, Khan Alam, Actg General Manager (HR) and Tariq M. Qureshi, Actg Chief (HRD/ Recruitment) have been awarded gold medal by the Management and CBA in recognition of their outstanding services. They have set an example for the other emp
Published 08 Dec, 2010 12:00am
SECP committed to developing microinsurance

SECP committed to developing microinsurance

It is imperative to meet the insurance needs of low-income people and businesses not served by conventional insurance schemes. The recent floods have shown that in the absence of proper insurance coverage the economic losses suffered by the people can hav
Published 08 Dec, 2010 12:00am
Russia and Pakistan agree to boost trade ties

Russia and Pakistan agree to boost trade ties

Andrey S. Budnik, Ambassador of Russian Federation while speaking on the occasion of a dinner hosted by Seth Gohar Ullah, President, Hyderabad Chamber of Commerce & Industry (HCCI), Consul General of Russia and other Russian delegates, industrialists and
Published 08 Dec, 2010 12:00am
Talks on with Agility: Businessmen assured of PaCCS implementation

Talks on with Agility: Businessmen assured of PaCCS implementation

Members of business community have been assured that the government is sincere in the implementation of Pakistan Automated Customs Clearance System (PaCCS), and negotiations with Agility, the software provider company, are underway in this regard.
Published 08 Dec, 2010 12:00am
PQA stops 1,800 dockers from entering port

PQA stops 1,800 dockers from entering port

Port Qasim Authority (PQA) has stopped around 1800 permanent dock labourers from entering seaport for the last 72 hours after a dispute over jobs demand at the newly built dry bulk cargo terminal, the port sources said on Tuesday. "Port operations during
Published 08 Dec, 2010 12:00am
ICAP seminar today

ICAP seminar today

The Southern Regional Committee of the Institute of Chartered Accountants of Pakistan (ICAP) is organising a seminar on "Clarity International Standards on Auditing" to be held on Wednesday, December 8, 2010 at 05:00 pm at ICAP-Moosa D. Desai Auditorium,
Published 08 Dec, 2010 12:00am
Corruption charges: NH&MP officer's services terminated

Corruption charges: NH&MP officer's services terminated

National Highway and Motorway Police (NH&MP) on Tuesday terminated the services of its officer Masroor Ali Memon over the charges of corruption. NH&MP, which had lodged FIR against Masroor Ali Memon at Gadap police station, have completed departmental inq
Published 08 Dec, 2010 12:00am
Picic Cash Fund assigned stability rating

Picic Cash Fund assigned stability rating

JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned preliminary Fund Stability Rating of 'AA+(f)' (Double A plus (f)) to Picic Cash Fund (Picic-CF). Picic-CF is an open-end money market fund proposed to be launched by PICIC Asset Management Compa
Published 08 Dec, 2010 12:00am
Accumulation of assets: NAB arrests former Wapda chief engineer

Accumulation of assets: NAB arrests former Wapda chief engineer

National Accountability Bureau (NAB) has arrested Mohammad Minhon Khan Chandio, Ex-Chief Engineer Water and Power Development Authority (Wapda) on the charges of accumulation of assets/properties beyond known sources of income. According to a statement is
Published 08 Dec, 2010 12:00am
US embassy, IIU agree to maintain 'Lincoln Corner': accord inked

US embassy, IIU agree to maintain 'Lincoln Corner': accord inked

The US Embassy in Islamabad and International Islamic University (IIU) have extended their agreement to maintain a Lincoln Corner at IIU, which provides students information about the US and hosts programmes deepening people-to-people relationships betwee
Published 08 Dec, 2010 12:00am
Education sector: reforms programme being implemented, says Khatri

Education sector: reforms programme being implemented, says Khatri

District Co-ordination Officer/District Administrator Hyderabad, Aftab Ahmed Khatri has said that an educational reforms programme, aimed at make Hyderabad a model district in the education sector, is being implemented. This he stated, on Tuesday, while p
Published 08 Dec, 2010 12:00am
SBP to organise moot on 'Economic Policy after the Financial Crisis'

SBP to organise moot on 'Economic Policy after the Financial Crisis'

The State Bank of Pakistan (SBP) is organising a two-day international conference on 'Economic Policy after the Financial Crisis' in Karachi on December 21-22, 2010. The Governor SBP, Shahid H Kardar will deliver a keynote address while inaugurating the c
Published 08 Dec, 2010 12:00am
PHC suspends Sessions Judge on corruption charges

PHC suspends Sessions Judge on corruption charges

The Chief Justice of the Peshawar High Court (PHC) on Tuesday suspended Muhammad Yousaf, Additional District and Sessions Judge/Izafi Zila Qazi Buner, on corruption charges.
Published 08 Dec, 2010 12:00am
Mobilink launches 'Jazba'

Mobilink launches 'Jazba'

Mobilink, Pakistan's market leader in cellular services and a part of Orascom Telecom Holding, on Tuesday launched its new package "Jazba" on Jazz with the freedom to make subsidised calls all day and enjoying unmatched "On-net" and "Off-Net" rates. The n
Published 08 Dec, 2010 12:00am
Shariah Advisors to attend IBIs' BoD meetings

Shariah Advisors to attend IBIs' BoD meetings

The State Bank of Pakistan has advised all Islamic banking institutions (IBIs) to invite their respective Shariah Advisor for discussion on the Shariah-compliance report in their Board of Directors' meetings in which annual audited accounts and Shariah Ad
Published 08 Dec, 2010 12:00am
Saarc 'charter day' being observed today

Saarc 'charter day' being observed today

Saarc 'charter day' is being celebrated here on Wednesday when this regional forum would complete its 25 years. PPP secretary general, Senator Jahangir Badr, will be the guest of honour for the event. Indian High Commissioner in Pakistan and other diploma
Published 08 Dec, 2010 12:00am
Journalists laid to rest

Journalists laid to rest

The Nemaz-e-Janaza of two journalists who lost their lives in suicide bomb attacks on Monday was offered here on Tuesday, which was attended by hundreds of local people including journalists. Moving scenes were witnessed as children and relatives of the m
Published 08 Dec, 2010 12:00am
11 missing prisoners' case: AG seeks urgent hearing

11 missing prisoners' case: AG seeks urgent hearing

The intelligence sleuths met Attorney-General Molvi Anwarul Haq on Tuesday and told him that there had been a major breakthrough regarding 11 missing prisoners' case, sources said. According to sources, soon after his meeting with sleuths, the Attorney-Ae
Published 08 Dec, 2010 12:00am
Swati meets Thai Speaker

Swati meets Thai Speaker

Federal Minister for Science and Technology Azam Khan Swati met Chai Chidchob, Speaker of the House of Representatives of Thailand, in Bangkok on Tuesday. Both of the leaders discussed political situation in their countries and many bilateral issues perta
Published 08 Dec, 2010 12:00am
Tesco asks government departments to clear arrears of Rs 672 million

Tesco asks government departments to clear arrears of Rs 672 million

A spokesman for Tribal Areas Electricity Supply Company (Tesco) has asked heads of various government departments in Fata and Khyber Pakhtunkhwa to clear their dues amounting to Rs 672 million by the end of the current calendar year. The spokesman said th
Published 08 Dec, 2010 12:00am
Italy for further strengthening of bilateral ties with Pakistan

Italy for further strengthening of bilateral ties with Pakistan

Italian Ambassador to Pakistan called on the Federal Minister for Industries and Production Mir Hazar Khan Bijarani here on Tuesday. According to a press release, Ambassador told the Minister that Italy has already started different developmental projects
Published 08 Dec, 2010 12:00am
PESCO officials urged to build customer friendly image

PESCO officials urged to build customer friendly image

Chief Executive, Peshawar Electricity Supply Company (PESCO), Mohammad Wali on Tuesday asked the engineers to build customer friendly image of the company. Addressing participants of a workshop organised under the auspices of National Electric Power Regul
Published 08 Dec, 2010 12:00am
Comprehensive plan evolved to meet foggy season challenge

Comprehensive plan evolved to meet foggy season challenge

National Highway and Motorway Police (NH&MP) North Zone (N-5) has made special arrangement to meet the foggy season challenge, said Deputy Inspector General (DIG) North NH&MP Abbas Hussain Malick. He said that N-5 has made a comprehensive plan to meet the
Published 08 Dec, 2010 12:00am
Ulema agree to remove misconceptions: US envoy

Ulema agree to remove misconceptions: US envoy

US Ambassador to Pakistan, Cameron Munter held a meeting with Ulema at National Museum of Pakistan, here on Tuesday, to seek their advice and support for creating better understanding between the United States and religious scholars and seminaries (Madara
Published 08 Dec, 2010 12:00am
PPL judged 'largest corporate giver'

PPL judged 'largest corporate giver'

Pakistan Petroleum Limited (PPL) was selected as the largest corporate giver in the category of total volume of donations for 2008 as well as 2009 at the Pakistan Corporate Philanthropy (PCP) Awards held in Karachi on December 6. The company bagged the aw
Published 08 Dec, 2010 12:00am
Engro Corpn announces Excellence Awards 2011

Engro Corpn announces Excellence Awards 2011

Engro Corporation Limited on Tuesday announced the first Engro Excellence Awards 2011. These awards aim to become an annual prestigious civilian award ceremony in Pakistan. The recipients which could be individuals or institutions will be selected based o
Published 08 Dec, 2010 12:00am
Pakistan needs greater trade access to USA, EU markets

Pakistan needs greater trade access to USA, EU markets

Pakistan needs greater trade access in USA and EU markets in order to fight against terrorism, joblessness and corruption, which eventually results into a war against terror, this was stated by Chairman, Pakistan Readymade Garments Manufacturers and Expor
Published 08 Dec, 2010 12:00am
Industrialists concerned over increase in power, gas tariff

Industrialists concerned over increase in power, gas tariff

Industrialists and traders on Tuesday expressed concerns over increase of 58 paisa per unit in electricity tariff and Rs 3.69 per mmcfd increase in gas tariff terming it an illogical decision. High cost of power and gas would increase the overall cost of
Published 08 Dec, 2010 12:00am
P&G inaugurates 'Ariel' plant at Port Qasim

P&G inaugurates 'Ariel' plant at Port Qasim

Procter and Gamble's (P&G) detergent brand "Ariel" will now be manufactured in Pakistan, as state-of-the-art production plant was inaugurated at Port Qasim, which is expected to create 3500 job opportunities over next 10 years. Acting Governor Sindh Nisar
Published 08 Dec, 2010 12:00am
MSML's net profit increases to Rs 241.986 million

MSML's net profit increases to Rs 241.986 million

The profit after tax of Mehran Sugar Mills Limited (MSML) has increased to Rs 241.986 million in the year ended September 30, 2010 as compared to Rs 175.912 million earned in the corresponding period last year. The company's earning per share increased to
Published 08 Dec, 2010 12:00am
MSML's net profit increases to Rs 241.986 million

MSML's net profit increases to Rs 241.986 million

The profit after tax of Mehran Sugar Mills Limited (MSML) has increased to Rs 241.986 million in the year ended September 30, 2010 as compared to Rs 175.912 million earned in the corresponding period last year. The company's earning per share increased to
Published 08 Dec, 2010 12:00am
Removal of annual fishing ban Fishermen gear-up efforts

Removal of annual fishing ban Fishermen gear-up efforts

Keamari's fishermen have geared up their efforts for getting the annual, June-July, fishing ban removed through proposed legislation during upcoming session of the legislature and started contacting elected representatives to garner support for the move.
Published 08 Dec, 2010 12:00am
Wheat to be sown over 0.521 million acres of land

Wheat to be sown over 0.521 million acres of land

During Rabi crop season wheat would be sown over 5.21 million acres of land in Sialkot, Daska, Pasrur and Sambrial tehsils of Sialkot. Official sources in the agriculture department told Business Recorder on Tuesday that 92 percent sowing had alrea
Published 08 Dec, 2010 12:00am
Suicide bomber targets Raisani's motorcade

Suicide bomber targets Raisani's motorcade

A suicide bomber tried to kill Balochistan Chief Minister Aslam Raisani in Quetta on Tuesday, damaging his motorcade, officials said. However, the chief minister was unhurt. The blast wounded nine people near the convoy of the chief minister. One person d
Published 08 Dec, 2010 12:00am
OGDCL bid for BP Pakistan delayed due to legal hitch

OGDCL bid for BP Pakistan delayed due to legal hitch

A bid by Pakistan's biggest listed firm, Oil and Gas Development Co Ltd (OGDCL), for BP's local assets has been delayed because of a legal issue, company officials said. Two OGDCL officials said on Tuesday the company had asked BP to give it more time to
Published 08 Dec, 2010 12:00am
Reformed General Sales Tax: PML-Q bencher denied moving resolution

Reformed General Sales Tax: PML-Q bencher denied moving resolution

The treasury benches opted for 'quorum-busting' tactic on Tuesday to successfully avoid a resolution on Reformed General Sale Tax (RGST), to be moved by a PML-Q bencher, which is seen rare on the private members' day and is against the parliamentary tradi
Published 08 Dec, 2010 12:00am
Islamabad police adopt strict accountability system: IGP

Islamabad police adopt strict accountability system: IGP

Islamabad Police have adopted a very strict accountability system within the department to augment their efficiency and provide people better services, said Kaleem Imam, Inspector General of Police (IGP) Islamabad, on Tuesday. "A strong accountability sys
Published 08 Dec, 2010 12:00am
'Militancy, terrorism cause irreparable loss to sports'

'Militancy, terrorism cause irreparable loss to sports'

Punjab Chief Minister Mohammad Shahbaz Sharif on Tuesday said that militancy and terrorism had caused an irreparable loss to sports in Pakistan besides economy and social sector. He said this while addressing a function held here to honour Pakistan Women
Published 08 Dec, 2010 12:00am
Reviving economy: government urged to adopt policy of self-reliance

Reviving economy: government urged to adopt policy of self-reliance

Pakistan Workers Confederation, a conglomerate of seven federation of labour unions have called upon the government to adopt a policy of "National Economic Self Reliance" to control inflation and ensure sustained economic growth. In a press conference on
Published 08 Dec, 2010 12:00am
Islam abhors all forms of sectarianism: Fehmida

Islam abhors all forms of sectarianism: Fehmida

Dr Fehmida Mirza, Speaker National Assembly, has urged the nation to forge unity among their ranks, shun all types of difference and supplement government efforts for ensuring peace in the country during the Holy month of Muharram. She urged in her messag
Published 08 Dec, 2010 12:00am
SAOG calls extraordinary AGM on December 15

SAOG calls extraordinary AGM on December 15

The WorldCall Telecom Limited has announced that its parent company Oman Telecommunication Company SAOG has called an Extra-Ordinary General Meeting (AGM) on December 15 to solicit shareholders' approval of 35 million dollars for WorldCall Telecom Limited
Published 08 Dec, 2010 12:00am
'Pakistan confronting challenges of land degradation'

'Pakistan confronting challenges of land degradation'

Pakistan is confronting daunting challenges of land degradation and desertification, especially in dry-land ecosystems, as it makes impossible to adopt cost-effective land degradation assessment. This was stated by Additional Secretary Environment Kamran
Published 08 Dec, 2010 12:00am
The Weather

The Weather

The weather report on Tuesday (December 07, 2010) and the forecast for Wednesday (December 08, 2010).

Published 08 Dec, 2010 12:00am
Refunds system under RGST: FBR to devise viable mechanism

Refunds system under RGST: FBR to devise viable mechanism

The Federal Board of Revenue (FBR) has given assurance to the textile sector for devising some viable mechanism to address the issues of refunds under the new system of 'reformed general sales tax'. Sources told Business Recorder here on Tuesday th
Published 08 Dec, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (December 07, 2010).

Published 08 Dec, 2010 12:00am
Rashid Zahir elected BoDs chief of ISE

Rashid Zahir elected BoDs chief of ISE

Muhammad Rashid Zahir has been elected Chairman of the Board of Directors of the Islamabad Stock Exchange (ISE) unanimously for the year 2010-11. The new Board of Directors in its first meeting held on Tuesday unanimously elected Rashid Zahir as the Chair
Published 08 Dec, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (December 07, 2010).

Published 08 Dec, 2010 12:00am
HHRD distributes ration packets among flood victims

HHRD distributes ration packets among flood victims

Helping Hand for Relief and Development (HHRD) in collaboration with King Abdullah Relief Commission distributed over 15,000 ration packets and 18,000 tents among the flood affected of Sindh and Balochistan provinces. According to the HHRD Emergency Relie
Published 08 Dec, 2010 12:00am
Devastating quake-2005: donors' assistance sought for remaining projects

Devastating quake-2005: donors' assistance sought for remaining projects

Pakistan asked for donor assistance to complete the remaining infrastructure of the on-going projects in the areas being hit by devastating earthquake in 2005. This was stated by Chairman Earthquake Reconstruction and Rehabilitation Authority (Erra), Hami
Published 08 Dec, 2010 12:00am
Chinese Prime Minister to address joint session of parliament

Chinese Prime Minister to address joint session of parliament

A joint session of both the houses of Parliament is likely to be summoned on December 19, which will be addressed by Chinese Prime Minister Wen Jiabao, it is learnt on Tuesday. Sources told Business Recorder that Wen Jiabao is due to arrive in the
Published 08 Dec, 2010 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 08 Dec, 2010 12:00am
'Strengthening of institutes could eliminate corruption'

'Strengthening of institutes could eliminate corruption'

Director General National Accountability Bureau (NAB), Brigadier Musaddiq Hussein Abbasi (Retd) has stressed strengthening of institutes for elimination of corruption from the society. Addressing a seminar held under the auspices of Character Building Soc
Published 08 Dec, 2010 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 08 Dec, 2010 12:00am
Chief Justice LHC retires today

Chief Justice LHC retires today

Chief Justice Lahore High Court, Khawaja Muhammad Sharif will retire on Wednesday (today) on attaining age of superannuation. Full court reference will be held in his honour today in which all the judges of the LHC will participate. Later, a farewell cere
Published 08 Dec, 2010 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (December 07, 2010).

Published 08 Dec, 2010 12:00am
Jamaat-e-Islami Senator concerned at alleged lobbying by US Ambassador

Jamaat-e-Islami Senator concerned at alleged lobbying by US Ambassador

Jamaat-e-Islami Vice Chief, Senator Professor Khurshid Ahmad on Tuesday expressed profound concerns on the alleged lobbying by US Ambassador Cameron Munter for levying the Reformed General Sales Tax (RGST), which he termed, as imposition of American agend
Published 08 Dec, 2010 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Tuesday (December 07, 2010) and for Wednesday (December 08, 2010)
Published 08 Dec, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (December 07, 2010).

Published 08 Dec, 2010 12:00am
Pakistan and Turkey to undertake joint defence productions

Pakistan and Turkey to undertake joint defence productions

Pakistan and Turkey agreed to further enhance bilateral co-operation in various fields particularly in the area of defence. Both the brotherly countries highlighted the need for undertaking Joint Defence Productions benefiting the two brotherly nations in
Published 08 Dec, 2010 12:00am
Disqualification of Rehman as senator: LHC defers hearing to December 23

Disqualification of Rehman as senator: LHC defers hearing to December 23

A full bench of Lahore High Court here Tuesday deferred the hearing to December 23, of a petition seeking disqualification of Rehman Malik as senator on the basis of his having been removed from government service. A single bench comprising Justice Sh Azm
Published 08 Dec, 2010 12:00am
Turkish President confers 'Jamhuriyat Nishan' on Gilani

Turkish President confers 'Jamhuriyat Nishan' on Gilani

Turkish President Abdullah Gul on Tuesday conferred country's prestigious Jamhuriyat Nishan (Republic Order) on Prime Minister Syed Yousuf Raza Gilani, in recognition of his services for furthering "ever-growing" bilateral relations between Pakistan and T
Published 08 Dec, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (December 07, 2010).

Published 08 Dec, 2010 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (December 07, 2010).

Published 08 Dec, 2010 12:00am
Growers asked to complete wheat sowing by December 15

Growers asked to complete wheat sowing by December 15

The Punjab Agriculture Department (PAD) has directed the growers of late sowing wheat to complete their sowing by December 15 in any case to ensure getting high quality maximum per acre yield. Experts of the agriculture department have also advised the gr
Published 08 Dec, 2010 12:00am
Prime Minister confers Hilal-e-Pakistan on Begum Erdogan

Prime Minister confers Hilal-e-Pakistan on Begum Erdogan

Prime Minister Syed Yusuf Raza Gilani on Tuesday conferred Hilal-e-Pakistan Award on Ms Emine Erdogan, wife of the Turkish Prime Minister in recognition of her personal efforts for the flood stricken people of Pakistan. Prime Minister Gilani conferred the
Published 08 Dec, 2010 12:00am
After passage of GST Bill: FBR to stop issuing special exemption orders

After passage of GST Bill: FBR to stop issuing special exemption orders

The Federal Board of Revenue will discontinue practice of issuing sales tax special exemption orders, customs exemptions orders and special federal excise exemption orders after passage of General Sales Tax Bill 2010 by the Parliament. Sources told Bus
Published 08 Dec, 2010 12:00am
THE RUPEE: all-round gains

THE RUPEE: all-round gains

All-round gains were seen on the currency market on Tuesday as the rupee was in commanding position versus dollar and euro, dealers said. The rupee posted fresh gains versus dollar, rising 20 paisa for buying and selling at 85.60 and 85.65, they said.
Published 08 Dec, 2010 12:00am
Government to release funds for ministries transferred to provinces

Government to release funds for ministries transferred to provinces

The federal government will release funds earmarked for those five ministries which have been shifted to the provinces subsequent to rationalisation of Public Sector Development Program (PSDP) 2010-11 necessary in the post-flood scenario.
Published 08 Dec, 2010 12:00am
THE RUPEE: all-round gains

THE RUPEE: all-round gains

All-round gains were seen on the currency market on Tuesday as the rupee was in commanding position versus dollar and euro, dealers said. The rupee posted fresh gains versus dollar, rising 20 paisa for buying and selling at 85.60 and 85.65, they said.
Published 08 Dec, 2010 12:00am
PTI supports blasphemy law

PTI supports blasphemy law

Pakistan Tehrek-e-Insaaf (PTI) has always supported Article 295-C (blasphemy law) in the Constitution and also voiced for efforts to avoid its misuse. PTI Vice President Ejaz Chaudhry expressed these views while addressing a press conference here on Tuesd
Published 08 Dec, 2010 12:00am
Assange arrest is issue for Sweden, Britain: US

Assange arrest is issue for Sweden, Britain: US

The United States said Tuesday that the arrest of WikiLeaks founder Julian Assange is an issue between Britain and Sweden, as Washington pursues its own investigation. Assange turned himself into the British authorities on Tuesday and was refused bail aft
Published 08 Dec, 2010 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (December 07, 2010).

Published 08 Dec, 2010 12:00am
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