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Apr 27, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2011-04-14
South East Asian stocks mostly up

South East Asian stocks mostly up

Most Southeast Asian stock markets gained in thin volume on Wednesday, led by Singapore, which rose over 1 percent as transport shares advanced and on strong economic growth expectations ahead of a central bank policy meeting. Investors looked for fresh o
Published 14 Apr, 2011 12:00am
Zapatero rules out new moves to cut Spain deficit

Zapatero rules out new moves to cut Spain deficit

Spanish Prime Minister Jose Luis Rodriguez Zapatero on Wednesday ruled out new budget cuts to help reduce his country's public deficit, after winning China's renewed support for buying Spanish debt. Spanish and Chinese firms signed deals worth about one b
Published 14 Apr, 2011 12:00am
Saudi annual inflation eases to 4.7 percent

Saudi annual inflation eases to 4.7 percent

Saudi Arabia's annual inflation rate has dipped to 4.7 percent in March, largely on the back of retreating food prices. The Saudi Arabian Department of Statistics and Information said annualised inflation dropped from February's level of 4.9 percent. Anal
Published 14 Apr, 2011 12:00am
J.P Morgan first quarter profit up 67 percent

J.P Morgan first quarter profit up 67 percent

J.P. Morgan Chase & Co drastically cut the amount of money set aside for bad loans, allowing it to boost first-quarter profit by two-thirds but prompting questions about whether the results can be repeated. The bank's book of consumer loans shrank by 10 p
Published 14 Apr, 2011 12:00am
J.P Morgan first quarter profit up 67 percent

J.P Morgan first quarter profit up 67 percent

J.P. Morgan Chase & Co drastically cut the amount of money set aside for bad loans, allowing it to boost first-quarter profit by two-thirds but prompting questions about whether the results can be repeated. The bank's book of consumer loans shrank by 10 p
Published 14 Apr, 2011 12:00am
Japan cuts view, quake to squeeze profit margins

Japan cuts view, quake to squeeze profit margins

Japan's government has downgraded its assessment of the economy for the first time in six months to reflect last month's devastating earthquake and tsunami, while wholesale prices rose at the fastest pace in more than two years in an ominous sign for comp
Published 14 Apr, 2011 12:00am
Leaders to reject use of force in Middle East, North Africa

Leaders to reject use of force in Middle East, North Africa

Leaders from five of the world's largest emerging economies will reject the use of force in the Middle East and North Africa at a summit on Thursday, urging instead dialogue and non-intervention, according to a draft statement. The "BRICS" nations of Braz
Published 14 Apr, 2011 12:00am
BRICS trade ministers downbeat on global trade round

BRICS trade ministers downbeat on global trade round

Trade ministers of the five BRIC nations gave no sign on Wednesday of being ready to make concessions to break a deadlock in decade-old talks to free up global commerce. The Doha Round of negotiations, being conducted under the umbrella of the World Trade
Published 14 Apr, 2011 12:00am
China, Spain firms sign $1.4 billion in deals

China, Spain firms sign $1.4 billion in deals

Spanish and Chinese firms signed deals worth about one billion euros ($1.4 billion) during a visit to Beijing by Spanish Prime Minister Jose Luis Rodriguez Zapatero, he told reporters on Wednesday. Spain's Gamesa Corporacion Tecnologica SA, one of the wor
Published 14 Apr, 2011 12:00am
Unilever, P&G fined 315 million euros for price fixing

Unilever, P&G fined 315 million euros for price fixing

Consumer goods giants Unilever and Procter & Gamble were fined 315.2 million euros ($456 million) by EU regulators on Wednesday for fixing washing powder prices in eight EU countries. Germany's Henkel, which alerted the European Commission to the cartel i
Published 14 Apr, 2011 12:00am
G20 to work on imbalances plan amid crowded agenda

G20 to work on imbalances plan amid crowded agenda

The world's biggest economies hope to make progress this week on a plan to identify countries that put the global economy at risk, while China warned against any moves that would curb its red-hot growth. The meeting of the Group of 20 rich and emerging-ma
Published 14 Apr, 2011 12:00am
Deutsche Bank to restructure US operations

Deutsche Bank to restructure US operations

Deutsche Bank will change the legal status of its main US subsidiary to avoid having to endow it with up to $20 billion in fresh capital, the Wall Street Journal reported on Wednesday. Citing an internal document at the bank, the Journal said that Deutsch
Published 14 Apr, 2011 12:00am
European shares move higher

European shares move higher

European shares rose on Wednesday, with banking stocks boosted by forecast-beating results from Wall Street bank J.P. Morgan and strategists suggested there was further upside for the sector. The pan-European FTSEurofirst 300 index of top shares closed up
Published 14 Apr, 2011 12:00am
Nikkei nudges higher

Nikkei nudges higher

Tokyo shares nudged higher on Wednesday, recouping some of the previous day's losses, but the futures-led upward move on thin volume suggested the post-quake rebound has run out of steam and mid-term the market may be heading for a second bottom. The most
Published 14 Apr, 2011 12:00am
Wednesday's afternoon trade: Dow, S&P near session lows

Wednesday's afternoon trade: Dow, S&P near session lows

The Dow and the S&P 500 fell on Wednesday as J.P. Morgan Chase & Co's strong profit growth failed to convince investors that the performance could be repeated, or that the results would translate to other companies. Shares of J.P. Morgan, a Dow component,
Published 14 Apr, 2011 12:00am
US stocks dip

US stocks dip

US stocks dropped on Tuesday on worries falling oil prices could set off a reversal in the high-flying energy sector, while Alcoa's leaner-than-expected revenue disappointed. Energy stocks led the S&P 500's losses, with the S&P Energy Index down 3 percent
Published 14 Apr, 2011 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 0.55 percent on Wednesday, led by smartphone maker HTC after it launched a powerful new handset that overshadowed the two new models from Nokia. Hon Hai closed 1 percent higher on news its parent group is considering investing $12 billi
Published 14 Apr, 2011 12:00am
Treasuries get boost

Treasuries get boost

US retail sales data on Wednesday will be closely watched for signs that inflation is crimping consumer spending, and the number may help set the tone for the day's 10-year Treasury note sale. Treasuries prices were boosted on Tuesday by a safe-haven bid
Published 14 Apr, 2011 12:00am
Treasuries get boost

Treasuries get boost

US retail sales data on Wednesday will be closely watched for signs that inflation is crimping consumer spending, and the number may help set the tone for the day's 10-year Treasury note sale. Treasuries prices were boosted on Tuesday by a safe-haven bid
Published 14 Apr, 2011 12:00am
Indian shares snap five-day fall

Indian shares snap five-day fall

Indian shares closed 2.3 percent higher on Wednesday, snapping a five-day losing streak, on optimism around quarterly corporate earnings, with lenders leading the gains. State Bank of India and ICICI Bank rose 1.3 percent and 2.4 percent respectively, whi
Published 14 Apr, 2011 12:00am
China, Hong Kong shares up

China, Hong Kong shares up

Hong Kong shares staged a mild recovery on Wednesday as bargain hunters picked up large cap names after the biggest two-day decline for the benchmark stock index since the Japan earthquake. A 1 percent advance on the Shanghai Composite to a five-month hig
Published 14 Apr, 2011 12:00am
Middle East markets: Egypt's index up

Middle East markets: Egypt's index up

Egypt's main index snapped a four-day losing streak on Wednesday on optimism the detention of former President Mubarak in a graft probe will bolster support for the country's military rulers. "We've been slightly hammered for the past few days and the mar
Published 14 Apr, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul stocks came roaring back on Wednesday after falling slightly early in the session, as investors snapped up auto and food shares, encouraged by a recent retreat in oil prices. The Korea Composite Stock Price Index ended up 1.56 percent at 2,121.92 po
Published 14 Apr, 2011 12:00am
Sprite launches 'Freshology' to beat the heat

Sprite launches 'Freshology' to beat the heat

Sprite has created a unique youth engagement platform, University of Freshology. The platform recognises youth problems in Pakistan, provides witty solutions to those problems, and promotes fresh thinking in students. Through the nation-wide activity prom
Published 14 Apr, 2011 12:00am
Malik condemns US drone attack

Malik condemns US drone attack

Interior Minister Rehman Malik has condemned the US drone attack in South Waziristan, saying that terrorists are the ones benefiting the most from such attacks and also urged the US authorities to stop such attacks. Talking to media persons outside Parlia
Published 14 Apr, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (April 13, 2011).

Published 14 Apr, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (April 13, 2011).

Published 14 Apr, 2011 12:00am
Supreme Court's decision on HEC hailed

Supreme Court's decision on HEC hailed

Educationists, politicians, Vice Chancellors of various universities and staff of Higher Education Commission heaved a sigh of relief over the Supreme Court's decision regarding the future of the commission. However, they were little cautious in their rea
Published 14 Apr, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednesday (April 13, 2011).

Published 14 Apr, 2011 12:00am
'Bancassurance' being launched: BoP signs MoU with EFU

'Bancassurance' being launched: BoP signs MoU with EFU

The Bank of Punjab (BoP) has entered into a MoU with EFU Life Assurance Limited for joining hands to launch "Bancassurance". A ceremony in this connection was held here on Wednesday. Naeem-Ud-Din Khan, President/CEO, The Bank of Punjab, and Taher G Sachak
Published 14 Apr, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (April 13, 2011).

Published 14 Apr, 2011 12:00am
'Reopening of Bhutto's case to open many Pandora's boxes'

'Reopening of Bhutto's case to open many Pandora's boxes'

Jamaat-e-Islami Chief, Syed Munawar Hasan, has said that the majority of those desiring reopening of the Z A Bhutto's case, had been with General Ziaul Haq and supported Bhutto's hanging. Addressing a press conference at Mansoora, on Wednesday, he said th
Published 14 Apr, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (April 13, 2011) and for Thursday (April 14, 2011).
Published 14 Apr, 2011 12:00am
FWBL to accept Hajj applications

FWBL to accept Hajj applications

The First Women Bank Limited (FWBL) has been selected for processing of Hajj applications for 2011 by the Ministry of Religious Affairs. This was stated by the spokesperson of the FWBL here on Wednesday. The Hajj applications forms will be issued and acce
Published 14 Apr, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (April 13, 2011).

Published 14 Apr, 2011 12:00am
NBP appoints Ibne Hassan as PR vice president

NBP appoints Ibne Hassan as PR vice president

National Bank of Pakistan (NBP) has appointed senior media communication manager, Syed Ibne Hassan, as vice president, Public Relations, Corporate Communication Division. According to an announcement on Wednesday by NBP.
Published 14 Apr, 2011 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Wednesday (April 13, 2011).

Published 14 Apr, 2011 12:00am
Twister left numerous untold stories for the dwellers

Twister left numerous untold stories for the dwellers

Initial rehabilitation work has been started in "Twister Hit" areas of Head Marala. The storm was developed about 20 kilometres North of Sialkot city and estimated wind speed was 200 miles per hour that hits five villages ruined every thing of the dweller
Published 14 Apr, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 14 Apr, 2011 12:00am
Transfers/postings

Transfers/postings

Chief Justice Lahore High Court, Ijaz Ahmad Chaudhry on Wednesday issued orders of transfers and postings among 4 Additional District and Sessions Judges (AD&SJ) and 5 civil judges-cum-judicial magistrates. According to a notification, AD&SJ Shahid Aslam
Published 14 Apr, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 14 Apr, 2011 12:00am
Rs 10 billion mega tax fraud: DI&I FBR arrests two more accused

Rs 10 billion mega tax fraud: DI&I FBR arrests two more accused

Directorate of Intelligence & Investigation-FBR (DI&I FBR), Lahore on April 12, 2011, arrested two accused namely Abbad Muhammad Zuberi alias Shariq Zuberi and Muhammad Ejaz, involved in issuance of fake sales tax invoices for generating illegal input tax
Published 14 Apr, 2011 12:00am
Selection of audit cases: FBR accused of protecting blue-eyed taxpayers

Selection of audit cases: FBR accused of protecting blue-eyed taxpayers

Karachi Income Tax Bar Association (KITBA) has accused the Federal Board of Revenue (FBR) of violating the Standard Operating Procedures (SOPs) of audit to protect blue-eyed taxpayers. Anwar Kashif Mumtaz, president KITBA, in a statement expressed serious
Published 14 Apr, 2011 12:00am
Appointment of VCs: LHC seeks report from Punjab government

Appointment of VCs: LHC seeks report from Punjab government

The Lahore High Court here Wednesday sought report and comments from Punjab government in a petition challenging process for appointment of six public sector universities' vice chancellors. The court, however, denied stay against proceedings before the se
Published 14 Apr, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (April 13, 2011).

Published 14 Apr, 2011 12:00am
6,000 youths being sent to Malaysia for jobs

6,000 youths being sent to Malaysia for jobs

As many as 6,000 unemployed youths from Sindh would be sent to Malaysia for jobs, Sindh Minister for Transport, Akhtar Hussain Jadoon stated this on Wednesday. He said those youngsters were being sent under the Shaheed Benazir Bhutto Youth Development Pro
Published 14 Apr, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (April 13, 2011).

Published 14 Apr, 2011 12:00am
The Weather

The Weather

The weather report on Wednesday (April 13, 2011) and the forecast for Thursday (April 14, 2011).

Published 14 Apr, 2011 12:00am
KCCI cancels its strike call following government assurances

KCCI cancels its strike call following government assurances

The Karachi Chamber of Commerce and Industry (KCCI) has decided not to go on strike after assurances by Governor Sindh Dr Ishratul Ebad, Chief Minister Sindh Syed Qaim Ali Shah, Federal Interior Minister Rehman Malik and the Karachi police that they are t
Published 14 Apr, 2011 12:00am
'Core group' of scientists set up to discuss cotton crop situation

'Core group' of scientists set up to discuss cotton crop situation

The Punjab Agriculture Department (PAD) has constituted a 'core group' of scientists to discuss cotton crop situation on weekly basis and issue advisory for management of the crop for any specific caution. Sources in the department told Business Record
Published 14 Apr, 2011 12:00am
LCCI organises business walk

LCCI organises business walk

Punjab University Hailey College of Banking and Finance (HCBF) students and faculty members, have participated in the business walk organised by Lahore Chamber of Commerce and Industry (LCCI). A large number of businessmen, politicians, members of civil s
Published 14 Apr, 2011 12:00am
Punjab Assembly meets today

Punjab Assembly meets today

Punjab Assembly will hold its session here Thursday (today) 3:00 pm. The session is being held on the requisition of opposition. Speaker Rana Muhammad Iqbal will chair the session.
Published 14 Apr, 2011 12:00am
Call for steps to combat global warming

Call for steps to combat global warming

Speakers have called for taking tangible steps to combat global warming with the remarkable reduction in the ever-growing quantity of carbon in the air. Professor Dr David Crowley from the University of California Riverside USA was addressing a seminar on
Published 14 Apr, 2011 12:00am
Rains likely from April 15

Rains likely from April 15

Pakistan Meteorological Department on Wednesday predicted another spell of scattered rains/thundershower with gusty winds/duststorm from Friday (tomorrow) to Sunday (April 16) in different parts of the country. According to the met office, another weather
Published 14 Apr, 2011 12:00am
Seminar on 'cricket diplomacy' held

Seminar on 'cricket diplomacy' held

Speakers at a seminar on Cricket Diplomacy Makes a Difference said that the aim of starting cricket diplomacy for enhancing peace talks between India and Pakistan. They also said that talks between the two sides can not be successful unless both sides sho
Published 14 Apr, 2011 12:00am
Khyber Pakhtunkhwa constitutes committee for Pasdec schemes

Khyber Pakhtunkhwa constitutes committee for Pasdec schemes

Chief Minister Ameer Haider Khan Hoti Wednesday constituted a committee comprising secretary industries, secretary P&D and chairman Pasdec for finalising matters regarding machinery, funds and land for the schemes initiated by the company in the province.
Published 14 Apr, 2011 12:00am
Stolen car recovered by NH&MP

Stolen car recovered by NH&MP

National Highways and Motorway Police (NH&MP) has recovered a Toyota Corolla GLI, which was stolen from Lahore through prompt action. Spokesperson of the NH&MP Javed Chaudhry told Business Recorder that last night at about one o'clock Motorway Poli
Published 14 Apr, 2011 12:00am
Pak-Iran gas pipeline: 'talks enter final stages'

Pak-Iran gas pipeline: 'talks enter final stages'

Economist Dr Zafar Moeen Nasir hopes on Wednesday that Pak-Iran gas-pipeline agreement would be implemented after completion of its initial and ending procedures. Talking to a private TV channel, he said that eleven members of Pakistan delegation have rea
Published 14 Apr, 2011 12:00am
Iesco power shut down notice

Iesco power shut down notice

According to Iesco spokesman, due to electricity maintenance/development work the power supply of the areas fall under the following feeders would remain suspended as under:-
Published 14 Apr, 2011 12:00am
Pakistani troops rescue Turkish envoy, three others

Pakistani troops rescue Turkish envoy, three others

Pakistan Army troops rescued Turkish Ambassador at Ivory Coast Yekcin Kaga Erensoi along with three other staff members, Golant, Mahmut (third Secretary) and Ali Ahisk at Ivory Coast (Abijan) on April 11, 2011, says a press release received here on Wednes
Published 14 Apr, 2011 12:00am
Italy unveils heritage management project in Swat

Italy unveils heritage management project in Swat

The Italian Mission Ismeo has unveiled a three years heritage management project for carrying archaeological activities in the militancy torn district Swat. The Italian Ismeo has started its mission in Swat in early 1956 to explore and boost up the cultur
Published 14 Apr, 2011 12:00am
House grabbers' gang busted, five held

House grabbers' gang busted, five held

Islamabad Police have busted a gang of land and house grabbers after arresting five members of the gang, besides apprehending ten more people including five women, for their alleged involvement in vehicles snatching, prostitution, bootlegging and possessi
Published 14 Apr, 2011 12:00am
Government accords priority to welfare of AJK people: Prime Minister

Government accords priority to welfare of AJK people: Prime Minister

Prime Minister Syed Yousuf Raza Gilani on Wednesday directed the authorities concerned for early provision of requisite funds for ongoing development schemes in Azad Jammu and Kashmir (AJK). He said that his government accorded special priority to the wel
Published 14 Apr, 2011 12:00am
Water flow in rivers increases

Water flow in rivers increases

Water flow in four live rivers Indus, Kabul, Jhelum and Chenab has considerably increased after three days of light rains in the catchment areas of the rivers.
Published 14 Apr, 2011 12:00am
Workshop on E-Commerce and Micro Credit

Workshop on E-Commerce and Micro Credit

Trade development Authority of Pakistan (TDAP) Lahore is organising a one-day workshop on 'E-Commerce and Micro Credit' on 20th April, 2011 for women entrepreneurs (WEs) at TDAP, office Lahore. The workshop will be addressed by Consultant Google, Badar Kh
Published 14 Apr, 2011 12:00am
CNG stations, petrol pumps observe indefinite strike

CNG stations, petrol pumps observe indefinite strike

As many as 2,267 CNG stations across the province, and around 240 petrol pumps in southern Punjab remained closed on Wednesday on strike call by All Pakistan CNG Association and Petroleum Retailers Association to press the government for redressal of thei
Published 14 Apr, 2011 12:00am
LHC issues notice to Secretary Establishment Division

LHC issues notice to Secretary Establishment Division

The Lahore High Court (LHC) here Wednesday issued notice for April 19 to secretary establishment division in a petition of DIG Ahmad Raza Tahir, former CCPO Lahore, challenging departmental inquiry against him. The petitioner submitted that a departmental
Published 14 Apr, 2011 12:00am
Chief Justice LHC issues order to hold an inquiry

Chief Justice LHC issues order to hold an inquiry

The Chief Justice (CJ) Lahore High Court here Wednesday ordered member inspection team to hold an inquiry against a judicial magistrate of Daska who had granted bail to a lawyer, involved in a fraud case, in unusual manner. Chief Justice Ijaz Ahmad Chaudh
Published 14 Apr, 2011 12:00am
Closure of petrol pumps, CNG stations challenged

Closure of petrol pumps, CNG stations challenged

A petition challenging closure of petrol pumps and CNG stations throughout Punjab has been filed before the Lahore High Court (LHC). The petitioner Ishtiaq Ahmad advocate has said in the petition that due to closure of filling stations the people are faci
Published 14 Apr, 2011 12:00am
Custom duty imposed by Turkey: Baig seeks President's help

Custom duty imposed by Turkey: Baig seeks President's help

Dr Mirza Ikhtiar Baig has urged President Asif Ali Zardari to take up the matter of additional custom duty imposed by Turkey on the import of Pakistani textile products. In a letter to President, Dr Baig said there would be additional 18 percent custom du
Published 14 Apr, 2011 12:00am
Drone attacks: PTI to stage protest demonstration on April 23

Drone attacks: PTI to stage protest demonstration on April 23

Pakistan Tehrik-e-Insaf, Khyber Pakhtunkhwa, (women wing) will participate in the demonstration and sit-in of their party on April 23 and 24 to protest against the US drone attacks in tribal areas. Talking to journalists, the provincial President, PTI Wom
Published 14 Apr, 2011 12:00am
PTI to stage sit-in against drone attacks

PTI to stage sit-in against drone attacks

Pakistan Tahreek-e-Insaf (PTI) on Wednesday announced to stage a sit-in on April 23 in Peshawar to protest against drone attacks in tribal areas and presence of American spies in the country, said Central Information Secretary PTI, Umar Cheema at a press
Published 14 Apr, 2011 12:00am
EU not interested in giving trade concession: Prgmea

EU not interested in giving trade concession: Prgmea

The Chairman of Pakistan Readymade Garments Manufacturers & Exporters Association (Prgmea), Ejaz Khokhar, has said that the European Union (EU) is not interested in extending trade concession to Pakistan and, therefore, is blaming the competitors for hamp
Published 14 Apr, 2011 12:00am
'Industrialists, workers to stage joint demonstration'

'Industrialists, workers to stage joint demonstration'

The Industrialists and Workers of the Textile Sector will stage a joint-demonstration and observe a sit-in in front of Sui Northern Gas Pipelines Regional Headquarter at Sargodha Road here on Thursday, April 14 against 3 days Gas shedding in Faisalabad an
Published 14 Apr, 2011 12:00am
A council to deal with energy crisis

A council to deal with energy crisis

Prime Minister Gilani while addressing the inaugural session of a three-day energy conference organised by the Petroleum Institute of Pakistan (PIP) announced the formation of a government-industry energy council (GIEC) and nominated PIP as a permanent me
Published 14 Apr, 2011 12:00am
A cause to celebrate

A cause to celebrate

The MQM public meeting in Lahore on Sunday was probably not a big crowd-puller - though the attendance was fairly sizeable given the public scare of terrorist attacks and the local administration's last minute shifting of the venue - but it did leave behi
Published 14 Apr, 2011 12:00am
VIEW POINT: MQM in Lahore

VIEW POINT: MQM in Lahore

The MQM made its debut in Punjab politics last Sunday by holding a public meeting in Lahore. An estimated eight to ten thousand people attended, which is pretty good for a fresh entrant on the scene - the party though has been laying the groundwork for it
Published 14 Apr, 2011 12:00am
Treatment of foreign corporation in US income tax law

Treatment of foreign corporation in US income tax law

In 1997, American tax law underwent reforms and changes and the US government adopted check-the-box-rules, in this system the classification of many entities became entirely elective for the taxpayers. This article presents a review of the check-the-box r
Published 14 Apr, 2011 12:00am
Cuba celebrates 50th anniversary of Bay of Pigs triumph

Cuba celebrates 50th anniversary of Bay of Pigs triumph

The 1961 Bay of Pigs invasion sought to oust Fidel Castro's Cuban regime, but it failed within just 65 hours and became "the first great defeat of North American imperialism in Latin America," in Castro's own words. Fifty years later, the same Cuban commu
Published 14 Apr, 2011 12:00am
New MDA Housing Scheme No 01

New MDA Housing Scheme No 01

The Malir Development Authority (MDA) introduced New Malir Housing Project, MDA Scheme No 01, in late 1997 and after wide publicity collected billions of rupees from the poor people by selling residential plots of 400, 200 and 100sq yards. After almost 14
Published 14 Apr, 2011 12:00am
ICAP holds certificates award ceremony

ICAP holds certificates award ceremony

At an impressive ceremony organised by The Institute of Chartered Accountants of Pakistan (ICAP), examination certificates were awarded to students who had passed their final examination held in winter 2010. Besides, Gold Medal was also awarded for outsta
Published 14 Apr, 2011 12:00am
NBP, Xpress Money sign pact

NBP, Xpress Money sign pact

National Bank of Pakistan (NBP) has signed "Money Transfer Services Agreement' with Xpress Money Services Limited, a leading company with international presence in money transfer services. This alliance allows NBP to provide Xpress Money, transfer service
Published 14 Apr, 2011 12:00am
SU exams date announced

SU exams date announced

The Contro-ller of Examinations, University of Sindh has announced on Wednesday that semester examinations of 2009-2010 batches in disciplines of BBA, 4 year BBA/MBA (Pass Side), BCS only 2nd semester and BCIT. The last date for submission of examination
Published 14 Apr, 2011 12:00am
Dawood Islamic Bank opens collection booth

Dawood Islamic Bank opens collection booth

Dawood Islamic Bank opened a collection booth at the Head Office of Saylani Welfare International Trust (SWIT) located at Bahadurabad. The main activity of the booth will be to collect the donations for SWIT. The booth was inaugurated by Professor Mufti M
Published 14 Apr, 2011 12:00am
Motorway hotels: Rawalpindi RTO launches aggressive tax drive

Motorway hotels: Rawalpindi RTO launches aggressive tax drive

The Regional Tax Office (RTO), Rawalpindi, has launched an aggressive drive against dozens of potential restaurants located on the motorway to bring the undocumented food outlets into the tax net. Sources told Business Recorder here on Wednesday th
Published 14 Apr, 2011 12:00am
Two weekly holidays: government urged to exclude banks

Two weekly holidays: government urged to exclude banks

Chairman, All Pakistan Consumer & Pharmaceutical Products Distributors' Association, Tahir Khaliq, in a press note, expressed concern and discontentment over the proposed two-weekly holidays and urged the government to exclude banks from this proposal.
Published 14 Apr, 2011 12:00am
Entity ratings of NCPL upgraded

Entity ratings of NCPL upgraded

The Pakistan Credit Rating Agency (Pacra) has upgraded the long-term entity rating of Nishat Chunian Power Limited (NCPL) to "AA" (Double A) [Previous: AA-], while maintaining short-term rating at "A1+" (A one plus). These ratings denote a very low expect
Published 14 Apr, 2011 12:00am
Entity ratings of NCPL upgraded

Entity ratings of NCPL upgraded

The Pakistan Credit Rating Agency (Pacra) has upgraded the long-term entity rating of Nishat Chunian Power Limited (NCPL) to "AA" (Double A) [Previous: AA-], while maintaining short-term rating at "A1+" (A one plus). These ratings denote a very low expect
Published 14 Apr, 2011 12:00am
Gas pipeline blown up in Dera Bugti

Gas pipeline blown up in Dera Bugti

Unknown men blew up natural gas supply pipeline in Loti gas field area of Dera Bugti on Wednesday morning. "Unidentified armed men had planted explosive material with eight-inch diameter pipeline supplying natural gas from well-no.3 to purification plant
Published 14 Apr, 2011 12:00am
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