After submitting request to the IMF for an extension, Prime Minister Syed Yousuf Raza Gilani has convened a crucial meeting here on December 23 (today) to find some solution to controversy over Reformed General Sales Tax (RGST).
After submitting request to the IMF for an extension, Prime Minister Syed Yousuf Raza Gilani has convened a crucial meeting here on December 23 (today) to find some solution to controversy over Reformed General Sales Tax (RGST).
Pakistan received $365 million from donor countries and financial institutions during July-October of the current financial year (2010-11). Sources said that Pakistan had revised its budgetary estimates for disbursement of foreign assistance downwards - f
Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Wednesday (December 22, 2010).
Pakistan received $365 million from donor countries and financial institutions during July-October of the current financial year (2010-11). Sources said that Pakistan had revised its budgetary estimates for disbursement of foreign assistance downwards - f
Interest rates on new foreign currency deposits issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (December 22, 2010).
Pakistan received $365 million from donor countries and financial institutions during July-October of the current financial year (2010-11). Sources said that Pakistan had revised its budgetary estimates for disbursement of foreign assistance downwards - f
Photo editing software developed by Pakistani technology firm Five Rivers became the best selling paid-for application for the Blackberry, the firm said Wednesday. Lahore-based Five Rivers said its Photo Editor Suite had hit the top spot across all sector
Photo editing software developed by Pakistani technology firm Five Rivers became the best selling paid-for application for the Blackberry, the firm said Wednesday. Lahore-based Five Rivers said its Photo Editor Suite had hit the top spot across all sector
Photo editing software developed by Pakistani technology firm Five Rivers became the best selling paid-for application for the Blackberry, the firm said Wednesday. Lahore-based Five Rivers said its Photo Editor Suite had hit the top spot across all sector
The prevailing uncertain economic and political situation in Pakistan has shattered hopes of the masses to attain economic self-sufficiency, as only 13 percent are optimistic of economic growth in 2011.
The prevailing uncertain economic and political situation in Pakistan has shattered hopes of the masses to attain economic self-sufficiency, as only 13 percent are optimistic of economic growth in 2011.
Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
The government has informed USAID that Boards of Directors (BoDs) of two power distribution companies-Lahore Electric Supply Company (Lesco), and Peshawar Electric Supply Company (Pesco)--have been reconstituted under Power Sector Reforms Programme (PSRP)
Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
The government has informed USAID that Boards of Directors (BoDs) of two power distribution companies-Lahore Electric Supply Company (Lesco), and Peshawar Electric Supply Company (Pesco)--have been reconstituted under Power Sector Reforms Programme (PSRP)
The government has informed USAID that Boards of Directors (BoDs) of two power distribution companies-Lahore Electric Supply Company (Lesco), and Peshawar Electric Supply Company (Pesco)--have been reconstituted under Power Sector Reforms Programme (PSRP)
The Cabinet has imposed restrictions on the Finance Ministry on blind approvals of expenditures for the cash hungry Pakistan Electric Power Company (Pepco), sources told Business Recorder. Sources said that Pepco was made dysfunctional only rhetori
The Cabinet has imposed restrictions on the Finance Ministry on blind approvals of expenditures for the cash hungry Pakistan Electric Power Company (Pepco), sources told Business Recorder. Sources said that Pepco was made dysfunctional only rhetori
The Cabinet has imposed restrictions on the Finance Ministry on blind approvals of expenditures for the cash hungry Pakistan Electric Power Company (Pepco), sources told Business Recorder. Sources said that Pepco was made dysfunctional only rhetori
In 1976, under the umbrella of the Dawood Group of Companies, Dawood Yamaha Limited (DYL) was formed in a joint venture with Yamaha Motor Company (YMC), Japan. Since its launch, Dawood Yamaha Limited (DYL) has built extensive world-class facilities for ma
China has reportedly withdrawn its unilateral offer to facilitate import of an additional 263 items from Pakistan out of Free Trade Agreement (FTA), sources in Commerce Ministry told Business Recorder. In the middle of current year, Commerce Secret
Pakistan-Japan relations now expand over half a century and not many of us are aware of some historic facts that exist. Pakistan was the destination of the first inaugural trade delegation under the allied occupation in 1949. Within the first decade of Pa
China has reportedly withdrawn its unilateral offer to facilitate import of an additional 263 items from Pakistan out of Free Trade Agreement (FTA), sources in Commerce Ministry told Business Recorder. In the middle of current year, Commerce Secret
Japan Cultural Centre (JCC) of the Consulate-General of Japan, Karachi, holds various Japanese cultural event such as Japanese Calendar Exhibition, Haiku Mushaira and Ikebana Demonstrations in collaboration with Japanese related organisations, for example
China has reportedly withdrawn its unilateral offer to facilitate import of an additional 263 items from Pakistan out of Free Trade Agreement (FTA), sources in Commerce Ministry told Business Recorder. In the middle of current year, Commerce Secret
Its great honour for me and my company, "Rozi Machanical Eng" while conveying sincere and deepest felicitations and greetings to the Government of Japan and Japanese people on the auspecious occassion of the national day of Japan and the Birthday of His M
The Federal Investigation Agency (FIA) arrested former City Police Officer (CPO) Saud Aziz and former SP of Rawal Town Khurram Shahzad from the courtroom in Benazir assassination case, after cancellation of their interim bail. The two police officers were
I take this opportunity on the National Day of Japan, 23rd December, 2010, to express my sincere gratitude to the Government of Pakistan and the whole nation for the hospitality and goodwill that they have always shown to the Japanese community.
The Federal Investigation Agency (FIA) arrested former City Police Officer (CPO) Saud Aziz and former SP of Rawal Town Khurram Shahzad from the courtroom in Benazir assassination case, after cancellation of their interim bail. The two police officers were
The Karachi Port handled 114,180 tonnes of cargo including 69,299 tonnes of import cargo, 44,881 tonnes of export cargo, 4,157 loaded and empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 69,299 tonnes compr
The Federal Shariat Court (FSC), in its short order on Wednesday declared Sections 11, 25 and 28 of Women Protection Act, 2006, as null and void, terming them contrary to Islamic injunctions and made it clear that no other court is empowered to entertain
China is set to continue to tap international markets for farm commodities in 2011, with the government driving demand this time to cover shortages and replenish reserves that got dangerously run down this year. Commerce Minister Chen Deming told an inter
The Federal Shariat Court (FSC), in its short order on Wednesday declared Sections 11, 25 and 28 of Women Protection Act, 2006, as null and void, terming them contrary to Islamic injunctions and made it clear that no other court is empowered to entertain
Cotton prices in India jumped on Wednesday as exporters bought aggressively after the government said it will still allow exports of 2.5 million bales despite expiry of a December 15 deadline, three exporters told Reuters. Trade Minister Anand Sharma said
Kenyans have changed their eating habits and consume more food other than the usual maize staple, driving up food security in the country, a senior Ministry of Agriculture official said on Wednesday. Key staple foods such as maize and wheat have previousl
US corn futures ticked higher on Wednesday, rising for the sixth straight session, while soyabeans were little changed and still around a 5-1/2 week high as hot weather and lack of rains in Argentina continued to raise supply concerns. Wheat fell almost h
The December vaida was inert and the January contract continued its fall on the forward cottonseed oilcake market on Wednesday in process of trading, dealers said. The December vaida that had closed at Rs 1178.00 commenced with no change at the same rate,
It is surprising that after the Indian export news, the official spot rate rise was maintained on the cotton market on Wednesday, dealers said. The Karachi Cotton Association (KCA) spot rate was raised by Rs 200 to Rs 9,500. Seed cotton prices in Sindh an
Subdued business was seen on the wholesale grain and seed market on Wednesday as most of the buyers showed little interest in fresh purchasing, dealers said. On the cereal side wheat old Burdan (with bag) was registered at Rs 2640-2645 and new type quoted
Most Southeast Asian stock markets posted small gains on Wednesday, with Malaysia and the Philippines climbing to one-week highs, as investors piled into commodities and energy shares amid higher oil prices. Trading volume for most share markets fell more
Japan's Nikkei average dipped 0.2 percent on Wednesday, backing away from a seven-month intraday high hit earlier, as downbeat comments by the prime minister on the economy prompted investors to adjust positions around new levels. But underlying sentiment
Indian shares reversed early gains and shed 0.2 percent on Wednesday, halting a three-session rally as traders opted to book profits. Trade remained choppy amid subdued volumes as the year-end closed in, but investors were optimistic about the outlook for
US stock index future edged higher on Wednesday as traders looked to extend fours days of gains that drove the S&P 500 to levels reached just before Lehman Brothers went bankrupt two years ago. Despite technical indicators pointing to an overbought market
Wall Street stocks closed higher on Tuesday, as the Dow Jones index reached fresh two-year highs, with markets boosted by strong earnings from firms including software giant Adobe. "The major stock averages are enjoying some holiday cheer," said Scott Mar
Dubai's DP World surged to a 27-month high on Wednesday after the ports operator sold a 75 percent in its Australian operations for $1.5 billion. The firm's shares rose 6.3 percent to their highest close since September 25, 2008. "The deal seems EPS (earn
Most US Treasuries prices rose on Tuesday as recent declines and higher yields drew buyers in choppy, pre-holiday trade. For the second day in a row, the US Federal Reserve executed two purchase operations as part of its $600 billion bond purchase program
Most US Treasuries prices rose on Tuesday as recent declines and higher yields drew buyers in choppy, pre-holiday trade. For the second day in a row, the US Federal Reserve executed two purchase operations as part of its $600 billion bond purchase program
Hong Kong shares climbed 0.22 percent on Wednesday as dealers extended the previous day's strong gains in quiet trade ahead of the year-end holidays. The benchmark Hang Seng Index added 51.33 points to close at 23,045.19. Turnover was 54.20 billion Hong K
European stock markets closed narrowly mixed in quiet trade on Wednesday, with investors finding no convincing lead as both US and British growth data left something to be desired, dealers said. They said an upward revision to US third quarter growth from
Banks boosted Britain's top share index by midday on Wednesday, helped by reports China is ready to buy Portuguese bonds which eased European debt concerns. ARM Holdings was the standout gainer, up 8.5 percent on reports Microsoft is working on a new vers
The amount of excess liquidity in the eurozone financial system will remain high going into 2011, analysts said on Wednesday after the European Central Bank issued a new round of three-month loans to eurozone banks. The ECB's three-month tender drew more
The euro recovered moderately in Tokyo trade Wednesday after falling to a record low against the Swiss franc amid concerns over the European sovereign debt crisis, dealers said. Against the Swiss franc, the single currency hit a fresh low of 1.2530 in ear
Sterling touched a three-month low versus the dollar before cutting losses on Wednesday as minutes from the Bank of England policy meeting showed a three-way split again and as UK growth data was revised lower. The Bank of England's Monetary Policy Commit
The euro dropped to a record low against the Swiss franc for the sixth straight day on Wednesday, with losses accelerating on concern the eurozone debt crisis will continue well into 2011. The euro fell below 1.25 Swiss francs, down about 16 percent so fa
The dollar traded higher against the euro on Tuesday, amid mixed news over the eurozone economy. The euro declined to 1.3093 dollars at around 2200 GMT from 1.3126 dollars late Monday. Against the Japanese currency, the dollar rose to 83.90 yen from 83.78
Interbank buy/sell rates for the taka against the dollar on Wednesday. 70.68/70.70 (previous 70.65/70.70. Call Money Rates: 25.00-30.00 percent (previous 9.0-35.00 percent).
China's yuan edged higher after the Chinese central bank set a slightly stronger mid-point on Wednesday and as the dollar index eased in global markets. But dealers said the firmer yuan did not signify any shift in policy for now.
Emerging Asian currencies mostly steadied on Wednesday in thin trade, as investors were cautious of taking on fresh positions amid worries over the euro zone's debt crisis. The euro won a reprieve after plumbing new lows on the Swiss franc and Australian
The euro gained against the dollar and recovered from all-time lows against the Swiss franc on Wednesday, boosted by a news report that China was ready to buy significant amounts of Portuguese sovereign debt. The Jornal de Negocios daily reported China is
The Indian rupee touched a one-week high on Wednesday as robust dollar inflows more than compensated for negative local stocks. The partially convertible rupee ended at 45.085/095 per dollar, after rising to 45.07, its strongest since December 14. It had
Sony Corp on Wednesday launched a music streaming service in a bid to boost sales of its consumer electronics and break Apple's dominance of the online music business. The Japanese company's "Music Unlimited powered by Qriocity" is a cloud computing-based
China is ready to buy up to 5.0 billion euros in Portuguese sovereign bonds to help Portugal cope with financial market stress, the newspaper Jornal de Negocios said Wednesday. "China is prepared to lend as much as 5.0 billion euros (6.5 billion dollars)
China is ready to buy up to 5.0 billion euros in Portuguese sovereign bonds to help Portugal cope with financial market stress, the newspaper Jornal de Negocios said Wednesday. "China is prepared to lend as much as 5.0 billion euros (6.5 billion dollars)
For the fourth year running, HSBC has been named the 'Best Trade Bank in the Middle East' in an online poll of importers and exporters conducted by Global Trade Review (GTR), one of the world's leading international trade magazines, says a press release.
China launched a new agency to hasten a consolidation among its weaker state-owned firms on Wednesday, in a long-awaited step towards creating leaner and more powerful national champions. The State-owned Assets Supervision and Administration Commission (S
Thousands took to the streets of Athens on Wednesday to protest against the 2011 Greek budget which imposes yet more austerity on the debt-choked nation, but parliament was set to pass the bill later in the day anyway. Public transport ground to a halt in
Iran has banned fuel exports to Afghanistan, stranding about 3,000 fuel trucks at the border and driving up wholesale prices for the refined products ahead of what many Afghans fear will be a blistery winter in their oil-poor nation, officials said Wednes
American Airlines has severed its decade-long ties to online travel giant Orbitz, in a move that experts said could shake up the global travel industry if other airlines follow its lead. For weeks, American has been embroiled in a dispute with Chicago-bas
Japan's economic growth will slow in the fiscal year from April to only half the pace of the current year due to weak exports and consumption, but consumer prices will stop falling after three years of declines, the government said. Data on Wednesday also
Britain's economy grew less quickly than previously thought in the third quarter, with falling government spending and rising household saving raising the risk of a sharp slowdown at the start of next year. The Office for National Statistics said UK GDP g
Spain's annual Christmas lottery, which has the world's largest total payout, gave out 2.32 billion euros in prizes Wednesday to hundreds of lucky winners across the country, which has Europe's highest jobless rate. The top prize of the lottery dubbed "El
Brazil this year overtook Germany as the fourth-biggest car market in the world - and foreign investors see huge potential as the Latin American giant becomes increasingly prosperous. At the end of 2010, a total of 3.45 million vehicles are forecast to ha
Toshiba on Wednesday launched in Japan what it calls the world's first television that allows viewers to see 3D images without the need to wear special glasses, amid intensifying competition in the market. Curious shoppers stopped to test out the screen a
Sales of previously owned US homes rose in November, offering the latest sign the economy was ending the year on a more solid footing after a sluggish third-quarter performance. Gross domestic product growth was revised up to an annualised rate of 2.6 per
Nestle emerged victorious in a tie of the 4th SPM Cricket League on Wednesday. Batting first, Nestle scored 284 for 6 wickets. Hamid Hayat 60, Ayub Rabbani 58, Kamran 55, Dawood 35 not out and Naveed 32 were the main batsmen. Afzal Khan snared 3 wickets.
Two inmates in a New Delhi jail told a court that guards gave them weapons and ordered them to kill Commonwealth Games officials being held in same prison, Indian media said Wednesday. Two brothers, who are standing trial for murder, said prison officers
New Zealand included seven uncapped players Wednesday in a 30-man squad for next year's World Cup, as the Black Caps struggle to end a run of 11 straight defeats in one-day internationals. The injection of fresh blood comes after former Test captain John
Pakistan Navy coach Khalid Zubair Shaukat has expressed the resolve that his team will go for a high-tempo attacking style to win National Games football gold for the first time. The event will get underway from December 26 with Navy to face Railways. Nav
Mobilink, Pakistan's market leader in cellular services and part of Orascom Telecom Holding, collaborated with Pakistan International Airlines (PIA) arranged an exciting cricket match at the PIA Cricket Academy in Karachi.
England's Kevin Pietersen Wednesday said Australia's current team could not out-sledge Test greats Shane Warne and Glenn McGrath, dismissing a sharp rise in verbal clashes during the Ashes series. Pietersen said he had faced some "pretty big verbal contes
UNICEF sponsored Under-14 football tournament of boys and girls begins here on Monday in which as many as 17 football teams of formal and non-formal schools were participating. Child and Social Development Organisation (CSDO) Sialkot under its "Child and
Former Manchester City chairman David Bernstein has been nominated as the new chairman of the Football Association (FA), English football's governing body announced Wednesday. Bernstein, 67, is currently the chairman of Wembley Stadium, the 90,000-seater
Venezuela's congress has passed a law that bars foreign funding for nongovernment organisations, adding to a series of measures that government opponents say are aimed at quashing dissent. Lawmakers allied with President Hugo Chavez approved the law, whic
The UN Security Council on Wednesday extended for six months the mandate of the 1,200-strong military observers group that has been monitoring the 1974 cease-fire between Israel and Syria in the Golan Heights. The UN Disengagement Observer Force was deplo
More than 800 Afghan soldiers have been killed in the country's conflict with militants so far this year, more than any other since the fall of the Taliban regime in 2001, an army spokesman said Wednesday. "A total of 806 Afghan National Army soldiers hav
A US widow is suing Bank of America for wrongly seizing her home and throwing away her husband's ashes, the New York Times reported Wednesday. Mimi Ash reportedly returned to her California mountain chalet to find it devoid of furniture and missing a wood