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Print - 2011-03-08
Double blasts kill two

Double blasts kill two

Two policemen were killed and 25 other people were injured in a twin bomb blasts in the eastern Afghan city of Jalalabad Monday, officials said. The first explosion went off in front of a mosque and, when police and locals rushed to help the wounded, a se
Published 08 Mar, 2011 12:00am
Michelle Obama tops poll of US politicians

Michelle Obama tops poll of US politicians

First Lady Michelle Obama Monday tops a new poll purporting to show how warmly Americans regard their leaders, besting even her husband President Barack Obama. Mrs Obama scored a chart-topping "warmth rating" of 60.1 degrees, three degrees hotter than the
Published 08 Mar, 2011 12:00am
Ivorian rebels take third town in west

Ivorian rebels take third town in west

Ivory Coast rebels have seized a third town in the west of the African country, forces loyal to disputed incumbent Laurent Gbabgo said on Monday, adding that reinforcements were on the way to try and take it back. A post-election power struggle between Gb
Published 08 Mar, 2011 12:00am
'Devastated' Pietersen back home

'Devastated' Pietersen back home

England star Kevin Pietersen said he was "absolutely devastated" that his long-standing hernia problem had ended his World Cup and shattered his lucrative Indian Premier League plans. "Sad to leave India.. Love the people & the hospitality. Alvida doston
Published 08 Mar, 2011 12:00am
ICC approve Morgan as Pietersen replacement

ICC approve Morgan as Pietersen replacement

The International Cricket Council has approved Eoin Morgan as a replacement player for the injured Kevin Pietersen in the England squad. Morgan, a 24-year-old middle-order batsman, has played 38 ODIs for England, scoring 1,160 runs at an average of 40. Fo
Published 08 Mar, 2011 12:00am
Canada beat Kenya to secure first win in 2011 World Cup

Canada beat Kenya to secure first win in 2011 World Cup

Canada overcame some early jitters with the bat to eventually win the battle of the associates by beating Kenya by five wickets and register their first win in the World Cup on Monday at the Feroz Shah Kotla. Right-handed batsman Jimmy Hansra (70) and cap
Published 08 Mar, 2011 12:00am
Canada beat Kenya to secure first win in 2011 World Cup

Canada beat Kenya to secure first win in 2011 World Cup

Canada overcame some early jitters with the bat to eventually win the battle of the associates by beating Kenya by five wickets and register their first win in the World Cup on Monday at the Feroz Shah Kotla. Right-handed batsman Jimmy Hansra (70) and cap
Published 08 Mar, 2011 12:00am
World Cup standings

World Cup standings

Standings (played, won, lost, tied, no result, points, net run rate):

Published 08 Mar, 2011 12:00am
Tour-de-Pakistan cycle race starts

Tour-de-Pakistan cycle race starts

The 16th Tour-de-Pakistan International Cycle Race covering 1620-km distance from Karachi to Abbotabad will get underway from Karachi from Tuesday (today). The Cycle race will conclude on March 20 at Abbotabad. Apart from cyclists from different departmen
Published 08 Mar, 2011 12:00am
Pakistan ready for New Zealand on mystery pitch

Pakistan ready for New Zealand on mystery pitch

In-form Pakistan batsman Misbah-ul-Haq said his team was ready for the double challenge of facing New Zealand as well as a mystery World Cup pitch on Tuesday. The Group A rivals meet at the newly-built Pallekele stadium in the first-ever one-day match at
Published 08 Mar, 2011 12:00am
Vettori urges team not to fear Pakistan

Vettori urges team not to fear Pakistan

Skipper Daniel Vettori said Monday that New Zealand would focus on their own game and not worry about formidable Pakistan in their World Cup match on Tuesday. "The game, like against most teams, is about yourself and trying to work out how you could actua
Published 08 Mar, 2011 12:00am
Review system improves umpiring, says ICC

Review system improves umpiring, says ICC

International cricket chiefs said Monday they had issued guidelines to end controversy over the use of the Umpire Decision Review System at the World Cup but backed its use. Ian Bell was given not out when it appeared the England batsman was out lbw on re
Published 08 Mar, 2011 12:00am
New Zealand dollar struggles, Aussie steadies

New Zealand dollar struggles, Aussie steadies

The New Zealand dollar struggled to make much headway on Monday ahead of an expected interest rate cut by the central bank later this week, while the Australian dollar was subdued, finding the going tough near the top-end of its range. The kiwi traded at
Published 08 Mar, 2011 12:00am
Interbank rates stay up

Interbank rates stay up

Euro interbank rates continued to press higher on Monday driven by the expectation that the ECB will raise interest rates in April, while overnight fixings looked set to remain volatile throughout March. Following European Central Bank President Jean-Clau
Published 08 Mar, 2011 12:00am
Yuan at new peak

Yuan at new peak

The yuan rose to new highs versus the dollar on Monday, after the People's Bank of China set a record high mid-point for the third day, signalling its intention to let the yuan appreciate to help fight inflation. Before trading began, the PBOC fixed the y
Published 08 Mar, 2011 12:00am
Won, peso decline

Won, peso decline

The South Korean won and the Philippines peso slid against the dollar on Monday, weighed down by higher oil prices and traders' caution about further intervention by some central banks to slow any gains in their currencies. Central banks of Indonesia, Phi
Published 08 Mar, 2011 12:00am
Indian rupee down

Indian rupee down

The Indian rupee ended weaker on Monday, dragged down by weak local shares, but it crawled back from the day's trough aided by gains in the euro. The partially convertible rupee ended at 45.04/05 per dollar, 0.1 percent weaker than its closing of 44.98/99
Published 08 Mar, 2011 12:00am
Swiss franc up

Swiss franc up

The Swiss franc rose against the euro on Monday after rating agency Moody's downgraded Greece's sovereign debt but the single currency was seen supported by last week's hawkish signals from the European Central Bank. The franc was up 0.2 percent against t
Published 08 Mar, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 71.50/71.50 (previous 71.50/71.50). Call Money Rates: 11.00-12.00 percent (previous 11.00-12.00 percent).
Published 08 Mar, 2011 12:00am
Euro jumps to four-month high versus dollar in London

Euro jumps to four-month high versus dollar in London

The euro jumped to a four-month high against the dollar on Monday as expectations of a eurozone interest rate hike next month helped it vault back above $1.40 and a ratings downgrade of Greece had little lasting impact. Traders said the shared currency wa
Published 08 Mar, 2011 12:00am
Early trade in New York: Euro little changed

Early trade in New York: Euro little changed

The euro fell from the day's high and traded little changed against the dollar on Monday as expectations of a eurozone interest rate hike next month faded. The euro had gained for four straight days, but the gains faded as trading in London wound down and
Published 08 Mar, 2011 12:00am
Dollar on back foot in Asia

Dollar on back foot in Asia

The dollar remained stuck near a four-month low against a basket of major currencies on Monday, while the euro was supported by expectations that the European Central Bank to raise interest rates as early as April. The dollar struggled to gain ground afte
Published 08 Mar, 2011 12:00am
Sterling slips versus euro

Sterling slips versus euro

Sterling slipped to a five-week low against the euro on Monday on speculation euro zone interest rates may rise before those in the UK, but gains were limited as the single currency came under broad selling pressure. The pound edged lower against the doll
Published 08 Mar, 2011 12:00am
Miners drag FTSE lower

Miners drag FTSE lower

Miners dragged Britain's top share index lower on Monday, as escalating violence in the Middle East and surging oil prices crimped investor appetite for risk. The FTSE 100 index closed down 16.61 points, or 0.3 percent, at 5,973.78, nearly 70 points below
Published 08 Mar, 2011 12:00am
European shares lower

European shares lower

European shares ended lower on Monday after investor concerns about the impact of oil prices on the recovery prompted a late afternoon sell-off, with banks among the biggest sector fallers. The pan-European FTSEurofirst 300 index of top shares closed down
Published 08 Mar, 2011 12:00am
Taiwan stocks slip

Taiwan stocks slip

Taiwan stocks closed 0.8 percent lower on Monday, pressured by construction and transport shares on a planned new property tax and high oil prices. Fund managers said the main share index would continue to face resistance at the 8,900-point level this wee
Published 08 Mar, 2011 12:00am
Nikkei average tumbles

Nikkei average tumbles

Japan's Nikkei average tumbled on Monday, falling below a key support level and erasing last week's gains, as fears of more turmoil in the Middle East and higher oil prices overshadowed solid US payrolls data. The resignation of Japanese Foreign Minister
Published 08 Mar, 2011 12:00am
Seoul shares fall

Seoul shares fall

Seoul shares fell on Monday led by Samsung Electronics as its first quarter earnings outlook dimmed, while rising oil prices sent transport companies such as Korean Air Line sharply lower. The Korea Composite Stock Price Index ended down 1.22 percent at 1
Published 08 Mar, 2011 12:00am
Bangladesh to create $700 million fund to prop up stocks

Bangladesh to create $700 million fund to prop up stocks

Bangladesh will create a $700 million mutual fund, the country's biggest ever, in a bid to stabilise the highly volatile Dhaka stock exchange, the head of a state-owned investment bank said Monday. The plan is part of the government's drive to restore cal
Published 08 Mar, 2011 12:00am
Most Southeast Asian stocks rise

Most Southeast Asian stocks rise

Most Southeast Asian stock markets posted small gains on Monday as a surge in global oil prices spurred buying in energy and resource shares but investors were worried about rising costs in several other sectors. The region saw a choppy session and lower
Published 08 Mar, 2011 12:00am
Monday's early afternoon trade: Wall Street adds to losses

Monday's early afternoon trade: Wall Street adds to losses

US stocks fell further in early afternoon trading on Monday, with the Nasdaq declining more than 2 percent and the Dow and S&P 500 down more than 1 percent each. A downgrade of the semiconductor sector weighed on the tech sector, along with a weaker-than-
Published 08 Mar, 2011 12:00am
Hong Kong shares lower, Shanghai gains

Hong Kong shares lower, Shanghai gains

Hong Kong stocks edged lower on Monday, weighed down by higher oil prices, but a buoyant day in Shanghai shielded the market from bigger declines and underscored growing optimism about Chinese shares. A rally in energy counters, in particular coal, lifted
Published 08 Mar, 2011 12:00am
Indian shares decline

Indian shares decline

Indian shares dropped 1.4 percent on Monday, with rate sensitive sectors contributing the most to the losses, hit by political worries on the domestic front and surging crude oil prices. The banking sector index, auto sector index and realty index fell be
Published 08 Mar, 2011 12:00am
Australia stocks down

Australia stocks down

Australian stocks fell 1.4 percent to close at a 5-week low on Monday, with index heavyweights such as BHP Billiton , retailers and top banks posting substantial losses as instability in oil-producing nations turned investors risk-averse. Falls in share v
Published 08 Mar, 2011 12:00am
Chemical items mixed on Jodia Bazar

Chemical items mixed on Jodia Bazar

The trading in chemical items closed mixed on Jodia Bazar here on Monday. The following changes were noted.
Published 08 Mar, 2011 12:00am
KCA spot rate given quantum jump by Rs 500 to Rs 12,500 on cotton market

KCA spot rate given quantum jump by Rs 500 to Rs 12,500 on cotton market

In line with the global trend, the spot rate shot up on the cotton market on Monday, dealers said. Karachi Cotton Association (KCA) official spot rate was raised by Rs 500 to Rs 12500, they said. Phutti prices in Sindh were at Rs 4500 and in Punjab rates
Published 08 Mar, 2011 12:00am
Oil cake market rates

Oil cake market rates

The March vaida was higher and May contract was unchanged on the forward cottonseed oilcake market on Monday in process of trading, dealers said. The March vaida that had closed last week at Rs 1242.60 opened with a sharp gain of Rs 1.30 at Rs 1243.90. Th
Published 08 Mar, 2011 12:00am
Wheat prices soar despite bumper production

Wheat prices soar despite bumper production

Despite bumper wheat production prices soared on the wholesales grains market on Monday in process of good business, dealers said. On the cereal side wheat old Bardan (with sag) shot up by Rs 80 to Rs 2780 and wheat new Bardan (with bag) also followed the
Published 08 Mar, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 161,990 tonnes of cargo including 84,868 tonnes of import cargo, 77,122 tonnes of export cargo and 3,579 loaded & empty containers during last 48 hours ended at 0700 hours on Monday. The total import cargo of 84,868 tonnes compris
Published 08 Mar, 2011 12:00am
US Midwest corn bids weak at river

US Midwest corn bids weak at river

Corn spot basis bids eased at river terminals and interior elevators around the US Midwest on Monday, pressured by higher barge freight and futures for the grain rising to a 2-1/2 year high late last week. Soyabean bids eased on the Mississippi River but
Published 08 Mar, 2011 12:00am
Patchy rains to help Ivory Coast cocoa mid-crop

Patchy rains to help Ivory Coast cocoa mid-crop

Hot weather and patchy rains last week in Ivory Coast's main cocoa growing regions were favourable for development of the mid-crop harvest, farmers and analysts said on Monday. The October-to-March main crop in Ivory Coast, the world's top cocoa producer,
Published 08 Mar, 2011 12:00am
HRW wheat bids firmer

HRW wheat bids firmer

Hard red winter wheat basis bids in the US Plains were steady to firmer on Monday as country wheat supplies were reported tight. New crop conditions remained poor in many key growing areas of the US Plains, though snow was forecast this week for some west
Published 08 Mar, 2011 12:00am
US wheat futures hold largely steady

US wheat futures hold largely steady

Chicago wheat futures held largely steady on Monday as forecasts of crop friendly weather in the United States weighed on the market and counteracted the supportive effect of a fall in the dollar. Support also came from Iraq's purchase of 400,000 tonnes o
Published 08 Mar, 2011 12:00am
Message from Governor of Sindh

Message from Governor of Sindh

It is really a pleasure for me to know that the Department of Social Work and the Centre of Excellence, University of Karachi are reputed for their committed learning and research. Social Work and Women's Studies are today's challenging and most promising
Published 08 Mar, 2011 12:00am
Chief Guest former City Nazim, City District Government Karachi

Chief Guest former City Nazim, City District Government Karachi

Under the guidance and supervision of Professor Dr Nasreen Aslam Shah three publication have been launched on the occasion of International Women's Day which is a valuable addition in the field of academics. All the three books are not only useful for stu
Published 08 Mar, 2011 12:00am
Vice Chancellor University of Karachi

Vice Chancellor University of Karachi

The Department of Social Work & Centre of Excellence for Women's Studies, University of Karachi have distinguished position among fellow institutions. The Department and the Centre always fabricate capable and quality students. The Department of Social Wo
Published 08 Mar, 2011 12:00am
Make it your mission to fight against heart diseases among women

Make it your mission to fight against heart diseases among women

Diagnosing heart disease in women can be a challenge. Women often don't realise that their symptoms are caused by a heart problem. Also, the tests to determine if their symptoms are from coronary heart disease are not as reliable as they are for men. Wome
Published 08 Mar, 2011 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

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
Published 08 Mar, 2011 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

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 Commi
Published 08 Mar, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (March 07, 2011).

Published 08 Mar, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Monday (March 07, 2011).

Published 08 Mar, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (March 07, 2011).

Published 08 Mar, 2011 12:00am
Cotton cess to be increased to Rs 50/40 kg

Cotton cess to be increased to Rs 50/40 kg

Federal government has decided to increase cotton cess by 150 percent from Rs 20 to Rs 50 per 40 kg, sources close to Secretary Ministry of Food and Agriculture (Minfa) told Business Recorder. This amount will go to the Pakistan Central Cotton Comm
Published 08 Mar, 2011 12:00am
Cotton cess to be increased to Rs 50/40 kg

Cotton cess to be increased to Rs 50/40 kg

Federal government has decided to increase cotton cess by 150 percent from Rs 20 to Rs 50 per 40 kg, sources close to Secretary Ministry of Food and Agriculture (Minfa) told Business Recorder. This amount will go to the Pakistan Central Cotton Comm
Published 08 Mar, 2011 12:00am
Cotton cess to be increased to Rs 50/40 kg

Cotton cess to be increased to Rs 50/40 kg

Federal government has decided to increase cotton cess by 150 percent from Rs 20 to Rs 50 per 40 kg, sources close to Secretary Ministry of Food and Agriculture (Minfa) told Business Recorder. This amount will go to the Pakistan Central Cotton Comm
Published 08 Mar, 2011 12:00am
IMF's fifth review: government seeking performance targets

IMF's fifth review: government seeking performance targets

The government is seeking performance targets from the International Monetary Fund (IMF) till end March 2011 (to be implemented within 23 days) to become eligible for fifth review in May 2011 with the objective of the release of the second last tranche pr
Published 08 Mar, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Monday (March 07, 2011).

Published 08 Mar, 2011 12:00am
IMF's fifth review: government seeking performance targets

IMF's fifth review: government seeking performance targets

The government is seeking performance targets from the International Monetary Fund (IMF) till end March 2011 (to be implemented within 23 days) to become eligible for fifth review in May 2011 with the objective of the release of the second last tranche pr
Published 08 Mar, 2011 12:00am
IMF''s fifth review: government seeking performance targets

IMF''s fifth review: government seeking performance targets

The government is seeking performance targets from the International Monetary Fund (IMF) till end March 2011 (to be implemented within 23 days) to become eligible for fifth review in May 2011 with the objective of the release of the second last tranche pr
Published 08 Mar, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (March 07, 2011).
Published 08 Mar, 2011 12:00am
Rs 326 billion released to provinces during first half

Rs 326 billion released to provinces during first half

Federal government has released Rs.326 billion to the provinces during the first half of the current fiscal year from Rs588 billion net divisible pool tax. This was informed to the provincial finance secretaries here on Monday at a meeting presided over b
Published 08 Mar, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (March 07, 2011).

Published 08 Mar, 2011 12:00am
Rs 326 billion released to provinces during first half

Rs 326 billion released to provinces during first half

Federal government has released Rs.326 billion to the provinces during the first half of the current fiscal year from Rs588 billion net divisible pool tax. This was informed to the provincial finance secretaries here on Monday at a meeting presided over b
Published 08 Mar, 2011 12:00am
Rs 326 billion released to provinces during first half

Rs 326 billion released to provinces during first half

Federal government has released Rs.326 billion to the provinces during the first half of the current fiscal year from Rs588 billion net divisible pool tax. This was informed to the provincial finance secretaries here on Monday at a meeting presided over b
Published 08 Mar, 2011 12:00am
'Contractual obligations delaying projects'

'Contractual obligations delaying projects'

Some eight power projects having the capacity of generating around 1,100 to 1,200 megawatt of electricity are facing delays because of contractual obligations, said Board of Investment (BoI) Chief Saleem H Mandviwalla during his brief visit to Karkey Kara
Published 08 Mar, 2011 12:00am
'Contractual obligations delaying projects'

'Contractual obligations delaying projects'

Some eight power projects having the capacity of generating around 1,100 to 1,200 megawatt of electricity are facing delays because of contractual obligations, said Board of Investment (BoI) Chief Saleem H Mandviwalla during his brief visit to Karkey Kara
Published 08 Mar, 2011 12:00am
Bijarani to give presentation on USC scam

Bijarani to give presentation on USC scam

A two-billion rupee scam related to computerisation of Utility Stores Corporation (USC) will echo in the Ministry of Industries and Production (MoI&P) on Tuesday (today), reliable sources in the Ministry told Business Recorder. A presentation on a
Published 08 Mar, 2011 12:00am
Transfers, postings of FBR officials

Transfers, postings of FBR officials

The Federal Board of Revenue (FBR) has strengthened the Inland Revenue Wing through high level reshuffling in the tax machinery, re-designating and transferring 100 officials (Grade 18-20) working for the Inland Revenue Service (IRS) with immediate effect
Published 08 Mar, 2011 12:00am
Transfers, postings of FBR officials

Transfers, postings of FBR officials

The Federal Board of Revenue (FBR) has strengthened the Inland Revenue Wing through high level reshuffling in the tax machinery, re-designating and transferring 100 officials (Grade 18-20) working for the Inland Revenue Service (IRS) with immediate effect
Published 08 Mar, 2011 12:00am
Additional Rs five billion loans: MoF may extend GoP guarantee to PIA

Additional Rs five billion loans: MoF may extend GoP guarantee to PIA

Finance Ministry is likely to extend a Government of Pakistan (GoP) guarantee for the PIA to arrange additional Rs 5 billion loans from commercial banks to meet critical financial requirements, well informed sources told Business Recorder. The sour
Published 08 Mar, 2011 12:00am
Additional Rs five billion loans: MoF may extend GoP guarantee to PIA

Additional Rs five billion loans: MoF may extend GoP guarantee to PIA

Finance Ministry is likely to extend a Government of Pakistan (GoP) guarantee for the PIA to arrange additional Rs 5 billion loans from commercial banks to meet critical financial requirements, well informed sources told Business Recorder. The sour
Published 08 Mar, 2011 12:00am