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Print - 2011-03-14
ECB President wants eurozone debt penalty

ECB President wants eurozone debt penalty

European Central Bank President Jean-Claude Trichet will appeal to the European parliament for harsher sanctions against eurozone debtor nations, German weekly magazine Der Spiegel said. The direct appeal to the European parliament underscores Trichet's d
Published 14 Mar, 2011 12:00am
Egypt's TMG fourth quarter net falls 18.3 percent

Egypt's TMG fourth quarter net falls 18.3 percent

Talaat Moustafa Group, Egypt's biggest developer by market value, posted on Sunday an 18.3 percent decline in Q4 net profit after a legal row over its flagship project cut into margins.
Published 14 Mar, 2011 12:00am
Kuwait sees interest rates as 'suitable'

Kuwait sees interest rates as 'suitable'

Kuwaiti inflation is expected to be between 5 and 6 percent this year, the Gulf Arab state's central bank governor said on Sunday, adding interest rates are at a 'suitable' level. Kuwait's annual inflation eased to 5.2 percent in January from a nearly two
Published 14 Mar, 2011 12:00am
Ireland confident on rate cut; stress tests loom

Ireland confident on rate cut; stress tests loom

Ireland expects Europe to cut the interest rate it is charging on some 40 billion euros worth of loans at a summit at the end of this month and will also seek greater flexibility from Brussels on dealing with its banks.
Published 14 Mar, 2011 12:00am
Zain board OKs Batelco, Kingdom $5 billion offer

Zain board OKs Batelco, Kingdom $5 billion offer

The board of Zain approved on Sunday an offer worth a total $5 billion by Kingdom Holding and Bahrain Telecom for the Kuwaiti telco's Saudi assets, sources said.
Published 14 Mar, 2011 12:00am
BoJ to inject 'massive' funds into market

BoJ to inject 'massive' funds into market

The Bank of Japan plans to pump "massive" funds into markets on Monday in a bid to help them stabilise following a catastrophic earthquake and devastating tsunami, Dow Jones Newswires said. The Bank of Japan said it would do its "utmost" to provide market
Published 14 Mar, 2011 12:00am
Bulgarians protest against rising fuel prices

Bulgarians protest against rising fuel prices

Tens of thousands of Bulgarians protested on Sunday against rising fuel costs that threaten to speed up inflation and hit incomes in the European Union's poorest member. Drivers flashed headlights and blew horns in car rallies in all major Bulgarian citie
Published 14 Mar, 2011 12:00am
Etisalat to invest $100 million in Afghanistan

Etisalat to invest $100 million in Afghanistan

The UAE's Etisalat plans to invest $100 million in Afghanistan between 2011 and 2012 and seeks to launch third-generation telecoms services this year, a top executive said on Sunday. Etisalat Afghanistan's Chief Executive Saeed al Hamli said the company e
Published 14 Mar, 2011 12:00am
South Korea secures Abu Dhabi oil in huge deal

South Korea secures Abu Dhabi oil in huge deal

South Korea, the world's fifth-largest crude oil importer, said on Sunday that it had secured access to at least a billion barrels of crude oil reserves in an unprecedented oil deal with Abu Dhabi National Oil Company.
Published 14 Mar, 2011 12:00am
Primary market bond buys from EU fund get thumbs down

Primary market bond buys from EU fund get thumbs down

Germany is mulling the idea of allowing Europe's rescue fund to buy the bonds of troubled euro members on the primary market but strategists say such a move would be fraught with dangers and do little to ease the burden on financially weak states.
Published 14 Mar, 2011 12:00am
Primary market bond buys from EU fund get thumbs down

Primary market bond buys from EU fund get thumbs down

Germany is mulling the idea of allowing Europe's rescue fund to buy the bonds of troubled euro members on the primary market but strategists say such a move would be fraught with dangers and do little to ease the burden on financially weak states.
Published 14 Mar, 2011 12:00am
Tokyo bourse to open Monday

Tokyo bourse to open Monday

The Tokyo Stock Exchange and other Japanese financial markets will re-open on Monday as normal, the government said on Sunday, despite the nation suffering a massive earthquake, a tsunami and a nuclear-power crisis.
Published 14 Mar, 2011 12:00am
Nikkei set to fall below 10,000; yen, JGBs to gain

Nikkei set to fall below 10,000; yen, JGBs to gain

Japanese shares look set to tumble this week while government bonds and the yen are expected to gain, although market players are still trying to gauge the impact of the country's worst earthquake in modern history.
Published 14 Mar, 2011 12:00am
Wall Street Weekahead: oil, Japan to keep stock investors wary

Wall Street Weekahead: oil, Japan to keep stock investors wary

It may be too close for comfort for stock investors. After seeing oil prices skyrocket from days of turmoil in Libya, investors now must grapple with political protests in the world's top oil exporter, Saudi Arabia, and the impact of the biggest earthquak
Published 14 Mar, 2011 12:00am
US mortgage settlement proposal likely doomed

US mortgage settlement proposal likely doomed

A settlement proposal by state attorneys general with the five biggest US mortgage servicers stands out less for what it contains than for what it omits - terms for resolving the most difficult issues dividing regulators and the big banks.
Published 14 Mar, 2011 12:00am
Gerald Putnam bets anew on Wall Street overhaul

Gerald Putnam bets anew on Wall Street overhaul

Gerald Putnam, who seized on Wall Street rule changes more than a decade ago to turn a start-up trading network into a $3 billion public company, is once again angling to profit from a massive market overhaul.
Published 14 Mar, 2011 12:00am
More clues on British economic health due next week

More clues on British economic health due next week

A key international report on the state of Britain's economy and an update of the country's unemployment picture will occupy the minds of investors here next week, alongside banking reforms. London's FTSE 100 index fell 2.7 percent over the past week to f
Published 14 Mar, 2011 12:00am
LSE sees companies queuing to list in London

LSE sees companies queuing to list in London

The London Stock Exchange is seeing companies queuing up to float and is looking at ways to widen the investor base open to them if it succeeds in its take-over of Toronto exchange owner TMX Group. "Our pipeline is extremely strong," Tracey Pierce, direct
Published 14 Mar, 2011 12:00am
Global Markets Weekahead: risks from Japan, euro, Middle East, Fed

Global Markets Weekahead: risks from Japan, euro, Middle East, Fed

Market risk looms just about everywhere in the coming week, from Japan's devastating earthquake to euro zone debt travails, Middle East turmoil and rising scepticism about US Treasuries. It would normally be enough to send investors scurrying into safe ha
Published 14 Mar, 2011 12:00am
Iran to issue three billion euro bond locally for gas field

Iran to issue three billion euro bond locally for gas field

Iran will issue 3 billion euros' worth of bonds domestically to develop its giant South Pars Gas field, an official said on Friday, the latest move by the Islamic state to raise funds as it faces foreign sanctions. The head of National Iranian Oil Co. sai
Published 14 Mar, 2011 12:00am
Palestinians honour highjack leader

Palestinians honour highjack leader

Palestinians from President Mahmoud Abbas's Fatah faction named a town square on Sunday after the leader of a 1978 bus hijacking in which 35 Israelis were killed.
Published 14 Mar, 2011 12:00am
Israel to build settler homes after attack

Israel to build settler homes after attack

Israel said on Sunday it would build hundreds of settler homes in the West Bank after an Israeli couple and three of their children were stabbed to death in a settlement in an attack blamed on Palestinian militants.
Published 14 Mar, 2011 12:00am
Barak's wife charged over illegal worker

Barak's wife charged over illegal worker

Israeli immigration authorities on Sunday filed charges against the wife of Israel's defence minister for allegedly illegally employing a Filipina house cleaner, local media reported.
Published 14 Mar, 2011 12:00am
China says Middle East should solve problems itself

China says Middle East should solve problems itself

Middle East countries should be left to themselves to resolve the problems they currently face without outside interference, a Chinese vice foreign minister said during a visit to the region.
Published 14 Mar, 2011 12:00am
Al Qaida calls for Islamic rule in Libya

Al Qaida calls for Islamic rule in Libya

A top Libyan al-Qaida commander has urged his countrymen to overthrow Moammar Gadhafi's regime and establish Islamic rule, expanding the terror network's attempts to capitalise on the wave of unrest sweeping the region.
Published 14 Mar, 2011 12:00am
Qaddafi offensive takes oil town, will 'bury' rebels

Qaddafi offensive takes oil town, will 'bury' rebels

Muammar Qaddafi's troops seized the strategic Libyan oil town of Brega on Sunday, forcing rebels to retreat eastward and putting extra pressure on world powers still deliberating on a no-fly zone.
Published 14 Mar, 2011 12:00am
Bahrain protesters block highway, confront police

Bahrain protesters block highway, confront police

Waves of protesters blocked a main thoroughfare to Bahrain Financial Harbour on Sunday, a major business district in the Gulf Arab banking centre, facing off with police who fired clouds of tear gas and water cannon.
Published 14 Mar, 2011 12:00am
Turkish journalists protest crackdown

Turkish journalists protest crackdown

Hundreds of journalists have protested the detention of reporters that the authorities allege were involved in an attempt to bring the government down. The journalists, joined by members of some non-governmental organisations, gathered in Istanbul's Taksi
Published 14 Mar, 2011 12:00am
Tsunami waves kill one in Indonesia

Tsunami waves kill one in Indonesia

A man in Indonesian eastern Papua province was killed by tsunami waves from Japan's massive earthquake, an official said Sunday. The 25-year-old man drowned after he was swept away by the waves late Friday in a coastal village near the provincial capital
Published 14 Mar, 2011 12:00am
Bomb kills four Afghans

Bomb kills four Afghans

A roadside bomb killed four Afghan civilians in a car in the country's south, the government said Sunday. The victims were driving in Kandahar province's Shorabak district when their vehicle struck the bomb Saturday, the Interior Ministry said in a statem
Published 14 Mar, 2011 12:00am
Two Nato soldier killed in Afghan attacks

Two Nato soldier killed in Afghan attacks

Nato says two of its service members have been killed in weekend attacks. The international military coalition says both died Saturday, one in an insurgent attack in the east and another in a bomb attack in the south. Nato did not provide further details
Published 14 Mar, 2011 12:00am
Three killed, dozens wounded in fresh Yemen violence

Three killed, dozens wounded in fresh Yemen violence

The United States expressed deep concern over escalating violence in Yemen, where at least three people were killed in bloody clashes between security forces and protesters Sunday. Dozens were injured when police and loyalists of the ruling General People
Published 14 Mar, 2011 12:00am
Massive Beirut rally demands to disarm Hezbollah

Massive Beirut rally demands to disarm Hezbollah

Tens of thousands of Lebanese opposition supporters on Sunday demanded Hezbollah be disarmed as they rallied to mark the sixth anniversary of a popular uprising against Syrian troops in the country.
Published 14 Mar, 2011 12:00am
Eight dead after rampage by pro-Gbagbo forces

Eight dead after rampage by pro-Gbagbo forces

At least eight bodies were found in an Abidjan suburb Sunday in the aftermath of a rampage by troops loyal to Ivory Coast strongman Laurent Gbagbo against supporters of his presidential rival. An AFP journalist and a witness counted eight bodies in the st
Published 14 Mar, 2011 12:00am
Iran to put Americans on trial again in May

Iran to put Americans on trial again in May

Iran will put three Americans facing spying charges on trial for the second time on May 11, an official was quoted on Sunday as saying by the official IRNA news agency. "The next trial session of three Americans who have been charged by espionage will be
Published 14 Mar, 2011 12:00am
Leaked cable shows details of BAE Saudi arms deal

Leaked cable shows details of BAE Saudi arms deal

A newly-released secret US diplomatic cable has alleged that British-based defence contractor BAE Systems PLC bribed Saudi officials in return for lucrative arms deals.
Published 14 Mar, 2011 12:00am
Need stressed to utilise Sialkot's business potential

Need stressed to utilise Sialkot's business potential

Sialkot is an entirely export-oriented city of Pakistan and possesses century-old industrial heritage. It has developed a remarkable export culture over the period and is contributing more than US 1.2 billion dollars annually to the national exchequer.
Published 14 Mar, 2011 12:00am
Man killed over old enmity

Man killed over old enmity

A man was gunned down by armed men in no. 3 area of Dera Murad Jamali, police said. According to police, the victim Mohammad Hayatat was killed by unknown gunmen who managed to escape after the incident. They said that an old enmity was the cause behind t
Published 14 Mar, 2011 12:00am
Gilani to visit Kyrgyzstan from March 15

Gilani to visit Kyrgyzstan from March 15

Prime Minister Syed Yousuf Raza Gilani will pay a two-day official visit to Kyrgyzstan from March 15 to boost bilateral relations besides seeking joint cooperation in trade, infrastructure and energy with the Central Asian Republic.
Published 14 Mar, 2011 12:00am
Effective measures to be taken to combat floods: Naveed

Effective measures to be taken to combat floods: Naveed

"I can't repeat the past mistake of giving deadline for ending power loadshedding, however I would try my best to minimise the power loadshedding, "There will be less loadshedding during the coming summer as compares to the last year," 2,000 MW of electri
Published 14 Mar, 2011 12:00am
'Government facing serious challenges of terrorism, extremism'

'Government facing serious challenges of terrorism, extremism'

Punjab Chief Minister Shahbaz Sharif has said that Pakistan is facing the serious challenge of terrorism and extremism and is fighting for its survival. He said that everything, which is humanly possible is being done for the elimination of terrorism and
Published 14 Mar, 2011 12:00am
Two-day scientific symposium held

Two-day scientific symposium held

A 2-Day Scientific Symposium held at Post Graduate Medical Institute/ General Hospital in which more than 400 doctors and senior specialists participated. 13 Pre-symposium workshops in different medical and surgical disciplines were held. Out of these 3 w
Published 14 Mar, 2011 12:00am
SICP invites leaders to agree on a 'National Agenda'

SICP invites leaders to agree on a 'National Agenda'

Chairman Sunni Ittehad Council Pakistan (SICP) Sahibzada Fazal Karim , MNA has invited national leaders of all shades to agree on a national agenda to get the country out of the current crisis.
Published 14 Mar, 2011 12:00am
MCCI urges government for fair taxation policy

MCCI urges government for fair taxation policy

Multan Chamber of Commerce and Industry (MCCI) has urged the government for fair taxation policy in order to raise revenue and broaden the tax base. "Many people avoid filing tax returns because of their fear of harassment by tax department which are the
Published 14 Mar, 2011 12:00am
'Gas, power shortages discouraging industrial investment'

'Gas, power shortages discouraging industrial investment'

Chaudhry Salamat Ali, Chairman Pakistan Hosiery Manufacturers & Exporters Association (PHMEA), North Zone has said that the gas shortage in conjunction with electricity shortage has forced a large number of textile industries and small and medium enterpri
Published 14 Mar, 2011 12:00am
Senate Foreign Relations body meets Karzai

Senate Foreign Relations body meets Karzai

Pakistan Senate Foreign Relations committee under the chairmanship of Senator Salim Saifullah Khan during its three-day visit called on Afghan President Hamid Karzai, Afghan Foreign Minister Zalmai Rasoul, and Chairman High Peace Council Professor Burhanu
Published 14 Mar, 2011 12:00am
PML-N encouraging judicial martial law, says Awan

PML-N encouraging judicial martial law, says Awan

Federal Minister for Law and Justice Babar Awan Sunday said that the PML-N was using state institutions as shield for its politics and was encouraging judicial martial law in the country. Enraged by Chaudhry Nisar Ali Khan's comments about President Asif
Published 14 Mar, 2011 12:00am
PU staff member honoured by German university

PU staff member honoured by German university

Punjab University faculty member, Dr Nadeem Sheikh has achieved an international honour for the country as he has been appointed Visiting Associate Professor by the University of Medicine, Goettingen (UMG), Germany.
Published 14 Mar, 2011 12:00am
Two million saplings to be planted in Gujranwala div

Two million saplings to be planted in Gujranwala div

Under spring tree plantation drive as many as 2000,000 saplings would be planted in Gujranwala division. Official sources told Business Recorder here on Sunday that Forest department has made necessary arrangements for the availability of plants, s
Published 14 Mar, 2011 12:00am
PEW urges government to launch patients' awareness programmes

PEW urges government to launch patients' awareness programmes

The Pakistan Economy Watch (PEW) on Sunday called upon government and civil society to launch awareness programmes for patients. A good number of doctors are losing professionalism to other priorities which is jeopardising health of unsuspecting patients
Published 14 Mar, 2011 12:00am
US missiles kill seven

US missiles kill seven

Intelligence officials say two suspected US missile strikes have killed seven militants in the country's tribal region. The two officials say the Sunday evening strikes also wounded five militants in Spalgah village near Miran Shah in North Waziristan. Th
Published 14 Mar, 2011 12:00am
Around 20,000 Pakistanis stranded in Libya

Around 20,000 Pakistanis stranded in Libya

Around 15,000 to 20,000 Pakistanis are stranded in Libya and the Monitoring Committee set up in Overseas Pakistanis Foundation (OPF) is monitoring the situation and facilitating their early repatriation. The committee is working under the supervision of D
Published 14 Mar, 2011 12:00am
Ansar Burney leaves for Egypt today

Ansar Burney leaves for Egypt today

The United Nations Expert Advisor on human rights and Chairman Ansar Burney Trust International, Ansar Burney is leaving for Cairo, Egypt on March 14 (today).
Published 14 Mar, 2011 12:00am
Two killed in road accident

Two killed in road accident

Two persons were killed in a head on collision between a car and wagon on Arif Road, here on Sunday. According to details, Zaka Ullah and his relative woman Rehana Sajjad were going to Bhawalnagar in the car, when reached near Chak 198 RB on Arif Road, a
Published 14 Mar, 2011 12:00am
Justice Dogar's father-in-law passes away

Justice Dogar's father-in-law passes away

Father-in-law of former Chief Justice of Pakistan, Justice Abdul Hameed Dogar passed away on Sunday in his native town Khairpur. According to family of the deceased, Rahmat-ul-lah Dogar died after a short illness. Nimaz-e-Janaza of Rahmatullah Dogar will
Published 14 Mar, 2011 12:00am
Martyred police officials: CCPO officials told to resolve problems

Martyred police officials: CCPO officials told to resolve problems

Capital City Police Officer (CCPO) Muhammad Aslam Tareen on Sunday issued special instructions to officials of CCPO office to solve problems being faced by families of martyred police officials on priority. He wrote separate letters to families of 240 mar
Published 14 Mar, 2011 12:00am
NHA to spend Rs 1.4 billion to construct Khushhal Garh bridge

NHA to spend Rs 1.4 billion to construct Khushhal Garh bridge

National Highway Authority (NHA) would spend Rs 1.4 billion to construct of Khushhal Garh Bridge across River Indus on Rawalpindi-Kohat Highway (N-80) in three packages. A source in the NHA told APP on Sunday that project design has been completed and pro
Published 14 Mar, 2011 12:00am
'Top priority to provision of healthcare facilities'

'Top priority to provision of healthcare facilities'

Punjab Labour Minister Syed Ehsaan-ud-Din Qureshi has said that government is giving top priority to the provision of modern healthcare facilities to all segments of the society specially the labourers.
Published 14 Mar, 2011 12:00am
PMA announces a complete strike on March 17

PMA announces a complete strike on March 17

Pakistan Medical Association (PMA) has announced a complete strike on March 17 and suspended all indoor and outdoor services in hospitals across Punjab. Addressing a press conference, PMA President, Shahid Rao, and General Secretary Kashif Chishti said th
Published 14 Mar, 2011 12:00am
DOW Jones SAFE Indexes reviewed, says SAFE SG

DOW Jones SAFE Indexes reviewed, says SAFE SG

Dow Jones Indexes, the leading global index provider, has completed the re-composition of the South Asian Federation of Exchanges (SAFE) family of Dow Jones Indexes following the regular annual review of the index for year.
Published 14 Mar, 2011 12:00am
Former American envoy terms Pakistan 'lifeline'

Former American envoy terms Pakistan 'lifeline'

A former American Ambassador to Pakistan has underscored the importance of the South Asian country for the United States amid strains in Islamabad-Washington relations over the Raymond David affair that have led to calls for the cut-off of US aid.
Published 14 Mar, 2011 12:00am
PFMA demands doubling of wheat quota

PFMA demands doubling of wheat quota

Pakistan Flour Mills Association (PFMA), Khyber Pakhtunkhwa has demanded of the government for increasing wheat procurement quota from 0.4 million to 0.8 million tons for coming season to fulfil the need of the province.
Published 14 Mar, 2011 12:00am
Crowley quits after slam of Pentagon

Crowley quits after slam of Pentagon

State Department spokesman Philip Crowley resigned Sunday after slamming the Pentagon's treatment of a US solider suspected of leaking thousands of diplomatic cables and military documents to WikiLeaks as "counter-productive."
Published 14 Mar, 2011 12:00am
Crowley quits after slam of Pentagon

Crowley quits after slam of Pentagon

State Department spokesman Philip Crowley resigned Sunday after slamming the Pentagon's treatment of a US solider suspected of leaking thousands of diplomatic cables and military documents to WikiLeaks as "counter-productive."
Published 14 Mar, 2011 12:00am
MONEY WEEK: shaky economic recovery

MONEY WEEK: shaky economic recovery

For the first time in seven months, inflation fell below 13 percent last month; trade deficit is on a continuous narrowing path on account of the export bonanza led by high cotton and rice prices; while overseas Pakistani remittances are consistently grow
Published 14 Mar, 2011 12:00am
MONEY WEEK: shaky economic recovery

MONEY WEEK: shaky economic recovery

For the first time in seven months, inflation fell below 13 percent last month; trade deficit is on a continuous narrowing path on account of the export bonanza led by high cotton and rice prices; while overseas Pakistani remittances are consistently grow
Published 14 Mar, 2011 12:00am
MONEY WEEK: shaky economic recovery

MONEY WEEK: shaky economic recovery

For the first time in seven months, inflation fell below 13 percent last month; trade deficit is on a continuous narrowing path on account of the export bonanza led by high cotton and rice prices; while overseas Pakistani remittances are consistently grow
Published 14 Mar, 2011 12:00am
CCP chief wants financial autonomy

CCP chief wants financial autonomy

In an exclusive interview, Chairman Competition Commission of Pakistan (CCP), Ms Rahat Kaunain Hassan tells the Business Recorder team comprising newspaper''s Islamabad Resident Editor Anjum Ibrahim and staff reporters Sohail Sarfraz and Wasim Iqba
Published 14 Mar, 2011 12:00am
CCP chief wants financial autonomy

CCP chief wants financial autonomy

In an exclusive interview, Chairman Competition Commission of Pakistan (CCP), Ms Rahat Kaunain Hassan tells the Business Recorder team comprising newspaper's Islamabad Resident Editor Anjum Ibrahim and staff reporters Sohail Sarfraz and Wasim Iqbal
Published 14 Mar, 2011 12:00am
CCP chief wants financial autonomy

CCP chief wants financial autonomy

In an exclusive interview, Chairman Competition Commission of Pakistan (CCP), Ms Rahat Kaunain Hassan tells the Business Recorder team comprising newspaper's Islamabad Resident Editor Anjum Ibrahim and staff reporters Sohail Sarfraz and Wasim Iqbal
Published 14 Mar, 2011 12:00am
Pakistani reporter held by Sri Lankan authorities

Pakistani reporter held by Sri Lankan authorities

Sri Lankan immigration authorities detained a Pakistani journalist with the same name as the man who staged an abortive car bomb attack in New York's Times Square last year, officials said Sunday. Faisal Shahzad, an Islamabad-based reporter, was allowed t
Published 14 Mar, 2011 12:00am
Pakistani reporter held by Sri Lankan authorities

Pakistani reporter held by Sri Lankan authorities

Sri Lankan immigration authorities detained a Pakistani journalist with the same name as the man who staged an abortive car bomb attack in New York's Times Square last year, officials said Sunday. Faisal Shahzad, an Islamabad-based reporter, was allowed t
Published 14 Mar, 2011 12:00am
Malik meets Altaf

Malik meets Altaf

Federal Minister for Interior Rehman Malik on Sunday held a meeting with Muttahida Qaumi Movement (MQM) chief, Altaf Hussain in London and discussed PPP's measures to appease anger of its partner, a private TV channel reported.
Published 14 Mar, 2011 12:00am
Malik meets Altaf

Malik meets Altaf

Federal Minister for Interior Rehman Malik on Sunday held a meeting with Muttahida Qaumi Movement (MQM) chief, Altaf Hussain in London and discussed PPP's measures to appease anger of its partner, a private TV channel reported.
Published 14 Mar, 2011 12:00am
MoC concerned over PRCL''s financial affairs

MoC concerned over PRCL''s financial affairs

Commerce Ministry is deeply concerned over the financial affairs of Pakistan Reinsurance Company Limited (PRCL) whose share value has nose-dived to Rs 15 from Rs 800 per share, well-informed sources told Business Recorder.
Published 14 Mar, 2011 12:00am
MoC concerned over PRCL's financial affairs

MoC concerned over PRCL's financial affairs

Commerce Ministry is deeply concerned over the financial affairs of Pakistan Reinsurance Company Limited (PRCL) whose share value has nose-dived to Rs 15 from Rs 800 per share, well-informed sources told Business Recorder.
Published 14 Mar, 2011 12:00am
MoC concerned over PRCL's financial affairs

MoC concerned over PRCL's financial affairs

Commerce Ministry is deeply concerned over the financial affairs of Pakistan Reinsurance Company Limited (PRCL) whose share value has nose-dived to Rs 15 from Rs 800 per share, well-informed sources told Business Recorder.
Published 14 Mar, 2011 12:00am
15 percent income tax surcharge through Ordinance may raise legal issues

15 percent income tax surcharge through Ordinance may raise legal issues

The promulgation of any Presidential Ordinance for the imposition of 15 per cent income tax surcharge may raise legal issues for applicability of the surcharge on the already closed and past transactions for Tax Year 2010, as the surcharge would have to c
Published 14 Mar, 2011 12:00am
15 percent income tax surcharge through Ordinance may raise legal issues

15 percent income tax surcharge through Ordinance may raise legal issues

The promulgation of any Presidential Ordinance for the imposition of 15 per cent income tax surcharge may raise legal issues for applicability of the surcharge on the already closed and past transactions for Tax Year 2010, as the surcharge would have to c
Published 14 Mar, 2011 12:00am
15 percent income tax surcharge through Ordinance may raise legal issues

15 percent income tax surcharge through Ordinance may raise legal issues

The promulgation of any Presidential Ordinance for the imposition of 15 per cent income tax surcharge may raise legal issues for applicability of the surcharge on the already closed and past transactions for Tax Year 2010, as the surcharge would have to c
Published 14 Mar, 2011 12:00am
US lawmakers mull nuclear moratorium after quake

US lawmakers mull nuclear moratorium after quake

The unfolding nuclear disaster in Japan at reactors damaged by a massive earthquake and subsequent tsunami has led some lawmakers to call for the United States to "put the brakes" on domestic nuclear development.
Published 14 Mar, 2011 12:00am
'Deposit reserves saved Latam from more pain'

'Deposit reserves saved Latam from more pain'

Latin America regulators spared their economies from further pain by forcing banks to save more cash ahead of the global financial crisis, a Bank for International Settlements study said.
Published 14 Mar, 2011 12:00am
Militants kill 10 passengers in Hangu

Militants kill 10 passengers in Hangu

Militants opened fire on a passenger van in Hangu district on Sunday, killing at least 10 passengers and wounding seven others, police said. The incident took place in Hangu district, 150 kilometres south-west of Peshawar.
Published 14 Mar, 2011 12:00am
Dull trading activities on KSE

Dull trading activities on KSE

Dull trading activities were witnessed at the Karachi share market during the week ended March 11, 2011 due to prevailing political uncertainty in the country and selling by foreign investors.
Published 14 Mar, 2011 12:00am
Dull trading activities on KSE

Dull trading activities on KSE

Dull trading activities were witnessed at the Karachi share market during the week ended March 11, 2011 due to prevailing political uncertainty in the country and selling by foreign investors.
Published 14 Mar, 2011 12:00am
Dull trading activities on KSE

Dull trading activities on KSE

Dull trading activities were witnessed at the Karachi share market during the week ended March 11, 2011 due to prevailing political uncertainty in the country and selling by foreign investors.
Published 14 Mar, 2011 12:00am
Kiwis and Aussies reach quarters

Kiwis and Aussies reach quarters

Defending champions Australia and New Zealand eased into the World Cup quarter-finals on Sunday. Australia extended their unbeaten World Cup record to 33 matches with a 60-run run win over Kenya, while the Black Caps pulled off a 97-run victory over the C
Published 14 Mar, 2011 12:00am
Kiwis and Aussies reach quarters

Kiwis and Aussies reach quarters

Defending champions Australia and New Zealand eased into the World Cup quarter-finals on Sunday. Australia extended their unbeaten World Cup record to 33 matches with a 60-run run win over Kenya, while the Black Caps pulled off a 97-run victory over the C
Published 14 Mar, 2011 12:00am
Sindh refuses to pay wellhead price for Sara West field

Sindh refuses to pay wellhead price for Sara West field

Oil and Gas Development Company Limited (OGDCL)''s three-member committee is considering a proposal to develop Sara West, Reti/Maru fields and Qadirpur Permeate gas estimated to generate around $18 million revenue per annum as the Sindh government has rep
Published 14 Mar, 2011 12:00am
Sindh refuses to pay wellhead price for Sara West field

Sindh refuses to pay wellhead price for Sara West field

Oil and Gas Development Company Limited (OGDCL)'s three-member committee is considering a proposal to develop Sara West, Reti/Maru fields and Qadirpur Permeate gas estimated to generate around $18 million revenue per annum as the Sindh government has repo
Published 14 Mar, 2011 12:00am
Sindh refuses to pay wellhead price for Sara West field

Sindh refuses to pay wellhead price for Sara West field

Oil and Gas Development Company Limited (OGDCL)'s three-member committee is considering a proposal to develop Sara West, Reti/Maru fields and Qadirpur Permeate gas estimated to generate around $18 million revenue per annum as the Sindh government has repo
Published 14 Mar, 2011 12:00am
Insured losses could hit $35 billion

Insured losses could hit $35 billion

Last week''s earthquake in Japan could lead to insured losses of nearly $35 billion, risk modelling company AIR World-wide said, making it one of the most expensive catastrophes in history. That figure is nearly as much as the entire world-wide cata strop
Published 14 Mar, 2011 12:00am
Insured losses could hit $35 billion

Insured losses could hit $35 billion

Last week's earthquake in Japan could lead to insured losses of nearly $35 billion, risk modelling company AIR World-wide said, making it one of the most expensive catastrophes in history. That figure is nearly as much as the entire world-wide cata stroph
Published 14 Mar, 2011 12:00am
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