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Print - 2011-05-12
Pakistan faces trade deficit with 54 states

Pakistan faces trade deficit with 54 states

Pakistan is facing trade deficit with around 54 countries. The leading countries with whom Pakistan is having trade deficit are China, Japan, Kuwait, Saudi Arabia, UAE, Malaysia, France, Germany, Australia, Canada, India Korea, Iran, Indonesia, Singapore
Published 12 May, 2011 12:00am
Violation seen in appointment of PC ministers

Violation seen in appointment of PC ministers

The government's decision to appoint one Federal Minister and one Minister of State from Pakistan Muslim League (Q) to head the Privatisation Commission is blatantly violative of its medium term macroeconomic framework 2011-14 which has not projected any
Published 12 May, 2011 12:00am
Nawaz turns down resignation of Javed Hashmi

Nawaz turns down resignation of Javed Hashmi

Pakistan Muslim League-Nawaz (PML-N)'s chief Mian Nawaz Sharif on Wednesday turned down resignation presented by party's senior leader Makhdoom Javed Hashmi, it is learnt. Sources in the party told Business Recorder that the PML-N's outspoken leade
Published 12 May, 2011 12:00am
Zardari invites Russia to invest in trans-regional projects

Zardari invites Russia to invest in trans-regional projects

President Asif Ali Zardari on Wednesday said Russia can invest in regional and trans-regional projects while taking benefit from Pakistan's strategic location. Speaking at Skolkovo Moscow School of Management here, he said both Pakistan and Russia share t
Published 12 May, 2011 12:00am
ITBA asks FBR not to issue controversial Clarifications

ITBA asks FBR not to issue controversial Clarifications

The Income Tax Bar Association (ITBA) Karachi has asked the Federal Board of Revenue (FBR) to refrain from issuing controversial income tax clarifications from which it seems to treat the tax deduction on services pertaining to corporate taxpayers as mini
Published 12 May, 2011 12:00am
Prime Minister approves promotion of navy officers

Prime Minister approves promotion of navy officers

Prime Minister Syed Yousuf Raza Gilani on Wednesday approved promotion of three officers of Pakistan Navy to the rank Rear Admiral. The promotions were recommended by the Flag Officers Promotion Board presided over by Chief of the Naval Staff. The officer
Published 12 May, 2011 12:00am
Zardari approves confirmation of 19 Additional Judges

Zardari approves confirmation of 19 Additional Judges

President Asif Ali Zardari on the advice of the Prime Minister Wednesday approved the confirmation of 15 Additional Judges of Lahore High Court and four Additional Judges of Balochistan High Court.
Published 12 May, 2011 12:00am
PML-N chief's letter to Prime Minister

PML-N chief's letter to Prime Minister

Pakistan Muslim League-Nawaz (PML-N) chief Mohammad Nawaz Sharif on Wednesday sent a letter to Prime Minister Syed Yousuf Raza Gilani, demanding formation of a Judicial Commission to hold a thorough probe into May 02 US operation in Abbottabad.
Published 12 May, 2011 12:00am
Grenades thrown at Saudi consulate in Karachi

Grenades thrown at Saudi consulate in Karachi

Some unknown miscreants on Wednesday threw two grenades at the Saudi consulate building here in the limits of Gizri police station. According to details, two unidentified men riding a motorcycle, threw two grenades at the Saudi consulate building, located
Published 12 May, 2011 12:00am
Power generation: Irsa releases 31,000 cusecs water from dams

Power generation: Irsa releases 31,000 cusecs water from dams

Indus River System Authority (Irsa) released 31,000 cusecs more water from the dams on Wednesday so that Pakistan Electric Power Company's hydel power generating units at Tarbela and Mangla could produce maximum cheap electricity to bridge the gap between
Published 12 May, 2011 12:00am
Tameer Bank, Asasah ink microfinance agreement

Tameer Bank, Asasah ink microfinance agreement

Yaseen Anwar, Deputy Governor, State Bank of Pakistan, has said that SBP is closely monitoring the performance and activities of branchless banking, as it has high risk factor. While talking with newsmen at the signing ceremony between Tameer Microfinance
Published 12 May, 2011 12:00am
ICI Pakistan should be divided into two entities

ICI Pakistan should be divided into two entities

The Board of Directors of ICI Pakistan Limited on Wednesday decided that ICI Pakistan should be divided into two entities, both of which will be listed on the Karachi, Lahore and Islamabad Stock Exchanges. One such entity will be AkzoNobel Pakistan Limite
Published 12 May, 2011 12:00am
ICI Pakistan should be divided into two entities

ICI Pakistan should be divided into two entities

The Board of Directors of ICI Pakistan Limited on Wednesday decided that ICI Pakistan should be divided into two entities, both of which will be listed on the Karachi, Lahore and Islamabad Stock Exchanges. One such entity will be AkzoNobel Pakistan Limite
Published 12 May, 2011 12:00am
ICI Pakistan should be divided into two entities

ICI Pakistan should be divided into two entities

The Board of Directors of ICI Pakistan Limited on Wednesday decided that ICI Pakistan should be divided into two entities, both of which will be listed on the Karachi, Lahore and Islamabad Stock Exchanges. One such entity will be AkzoNobel Pakistan Limite
Published 12 May, 2011 12:00am
ICI Pakistan should be divided into two entities

ICI Pakistan should be divided into two entities

The Board of Directors of ICI Pakistan Limited on Wednesday decided that ICI Pakistan should be divided into two entities, both of which will be listed on the Karachi, Lahore and Islamabad Stock Exchanges. One such entity will be AkzoNobel Pakistan Limite
Published 12 May, 2011 12:00am
Amnesty to foreign remittances: FBR and RAC agree to check misuse

Amnesty to foreign remittances: FBR and RAC agree to check misuse

The Revenue Advisory Council and the Federal Board of Revenue want section 111(4) of the Income Tax Ordinance 2001 amended to check the amnesty granted to foreign remittances, as the facility has been widely misused to hide the unexplained income in the n
Published 12 May, 2011 12:00am
Amnesty to foreign remittances: FBR and RAC agree to check misuse

Amnesty to foreign remittances: FBR and RAC agree to check misuse

The Revenue Advisory Council and the Federal Board of Revenue want section 111(4) of the Income Tax Ordinance 2001 amended to check the amnesty granted to foreign remittances, as the facility has been widely misused to hide the unexplained income in the n
Published 12 May, 2011 12:00am
Amnesty to foreign remittances: FBR and RAC agree to check misuse

Amnesty to foreign remittances: FBR and RAC agree to check misuse

The Revenue Advisory Council and the Federal Board of Revenue want section 111(4) of the Income Tax Ordinance 2001 amended to check the amnesty granted to foreign remittances, as the facility has been widely misused to hide the unexplained income in the n
Published 12 May, 2011 12:00am
Amnesty to foreign remittances: FBR and RAC agree to check misuse

Amnesty to foreign remittances: FBR and RAC agree to check misuse

The Revenue Advisory Council and the Federal Board of Revenue want section 111(4) of the Income Tax Ordinance 2001 amended to check the amnesty granted to foreign remittances, as the facility has been widely misused to hide the unexplained income in the n
Published 12 May, 2011 12:00am
The Weather

The Weather

The weather report on Wednesday (May 11, 2011) and the forecast for Thursday (May 12, 2011).

Published 12 May, 2011 12:00am
Rajaratnam guilty on all insider trading charges

Rajaratnam guilty on all insider trading charges

Galleon Group hedge fund founder Raj Rajaratnam was found guilty on all 14 conspiracy and securities fraud charges of insider trading on Wednesday, in a vindication of the government''''s aggressive tactics in prosecuting crime on Wall Street. Rajaratnam,
Published 12 May, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (May 11, 2011).

Published 12 May, 2011 12:00am
Rajaratnam guilty on all insider trading charges

Rajaratnam guilty on all insider trading charges

Galleon Group hedge fund founder Raj Rajaratnam was found guilty on all 14 conspiracy and securities fraud charges of insider trading on Wednesday, in a vindication of the government''s aggressive tactics in prosecuting crime on Wall Street. Rajaratnam, a
Published 12 May, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 12 May, 2011 12:00am
Rajaratnam guilty on all insider trading charges

Rajaratnam guilty on all insider trading charges

Galleon Group hedge fund founder Raj Rajaratnam was found guilty on all 14 conspiracy and securities fraud charges of insider trading on Wednesday, in a vindication of the government's aggressive tactics in prosecuting crime on Wall Street. Rajaratnam, a
Published 12 May, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 12 May, 2011 12:00am
Rajaratnam guilty on all insider trading charges

Rajaratnam guilty on all insider trading charges

Galleon Group hedge fund founder Raj Rajaratnam was found guilty on all 14 conspiracy and securities fraud charges of insider trading on Wednesday, in a vindication of the government's aggressive tactics in prosecuting crime on Wall Street. Rajaratnam, a
Published 12 May, 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 (May 11, 2011).

Published 12 May, 2011 12:00am
Coal-laden PS ship detained

Coal-laden PS ship detained

A ship loaded with thousands of tons of coal for Pakistan Steel Mills has been detained at a Canadian port. Sources told Business Recorder on Wednesday night that MV Thorasace loaded with 50,000 tons of coal was ready for sail to Pakistan, when det
Published 12 May, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (May 11, 2011).

Published 12 May, 2011 12:00am
Coal-laden PS ship detained

Coal-laden PS ship detained

A ship loaded with thousands of tons of coal for Pakistan Steel Mills has been detained at a Canadian port. Sources told Business Recorder on Wednesday night that MV Thorasace loaded with 50,000 tons of coal was ready for sail to Pakistan, when det
Published 12 May, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (May 11, 2011) and for Thursday (May 12, 2011).
Published 12 May, 2011 12:00am
Coal-laden PS ship detained

Coal-laden PS ship detained

A ship loaded with thousands of tons of coal for Pakistan Steel Mills has been detained at a Canadian port. Sources told Business Recorder on Wednesday night that MV Thorasace loaded with 50,000 tons of coal was ready for sail to Pakistan, when det
Published 12 May, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (May 11, 2011).

Published 12 May, 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 (May 11, 2011).

Published 12 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 11, 2011).

Published 12 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 11, 2011).

Published 12 May, 2011 12:00am
Government may defer implementation of NFC Award

Government may defer implementation of NFC Award

The federal government has reportedly deferred implementation of 7th National Finance Commission (NFC) Award due to financial constraints. It was revealed in the Budget Strategy Paper 2011-14 submitted to the Cabinet on Wednesday.
Published 12 May, 2011 12:00am
THE RUPEE: all-round fall

THE RUPEE: all-round fall

All-round decline was seen on the currency market on Wednesday as the dollar supply was tight amid rising demand by importers to meet the payments, dealers said. The rupee failed to retain its gains versus dollar, losing 21 paisa for buying and selling at
Published 12 May, 2011 12:00am
Government may defer implementation of NFC Award

Government may defer implementation of NFC Award

The federal government has reportedly deferred implementation of 7th National Finance Commission (NFC) Award due to financial constraints. It was revealed in the Budget Strategy Paper 2011-14 submitted to the Cabinet on Wednesday.
Published 12 May, 2011 12:00am
THE RUPEE: all-round fall

THE RUPEE: all-round fall

All-round decline was seen on the currency market on Wednesday as the dollar supply was tight amid rising demand by importers to meet the payments, dealers said. The rupee failed to retain its gains versus dollar, losing 21 paisa for buying and selling at
Published 12 May, 2011 12:00am
Government may defer implementation of NFC Award

Government may defer implementation of NFC Award

The federal government has reportedly deferred implementation of 7th National Finance Commission (NFC) Award due to financial constraints. It was revealed in the Budget Strategy Paper 2011-14 submitted to the Cabinet on Wednesday.
Published 12 May, 2011 12:00am
Rahul arrested at farmers' protest

Rahul arrested at farmers' protest

Indian MP Rahul Gandhi, widely seen as a prime minister-in-waiting, was arrested Wednesday night after joining protesting farmers who allege they were forced from their land to make room for a motorway, reports said. Gandhi was taken into preventative cus
Published 12 May, 2011 12:00am
ISE gains five points

ISE gains five points

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 5.00 points, as the Index moved from 2,696.64 to 2,701.6
Published 12 May, 2011 12:00am
ISE gains five points

ISE gains five points

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 5.00 points, as the Index moved from 2,696.64 to 2,701.6
Published 12 May, 2011 12:00am
Equities move both ways on LSE

Equities move both ways on LSE

Equities on Wednesday moved both ways on the Lahore Stock Exchange (LSE) and finally ended on mixed note amid increased trading turnover on account of fresh buying in selective scrips. The LSE-25 index marginally declined by 5.12 points and was closed at
Published 12 May, 2011 12:00am
Equities move both ways on LSE

Equities move both ways on LSE

Equities on Wednesday moved both ways on the Lahore Stock Exchange (LSE) and finally ended on mixed note amid increased trading turnover on account of fresh buying in selective scrips. The LSE-25 index marginally declined by 5.12 points and was closed at
Published 12 May, 2011 12:00am
BRIndex30 down 20.19 points

BRIndex30 down 20.19 points

On Wednesday, the BRIndex30 opened at 8,661.50 points. It touched the intra-day high of 8,708.78 points and low of 8,622.35 points, and closed at 8,641.31 points with a net negative change of -20.19 points or -0.23 percent lower than previous close. The v
Published 12 May, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (May 11, 2011).

Published 12 May, 2011 12:00am
BRIndex30 down 20.19 points

BRIndex30 down 20.19 points

On Wednesday, the BRIndex30 opened at 8,661.50 points. It touched the intra-day high of 8,708.78 points and low of 8,622.35 points, and closed at 8,641.31 points with a net negative change of -20.19 points or -0.23 percent lower than previous close. The v
Published 12 May, 2011 12:00am
Index gains 24.34 points

Index gains 24.34 points

Karachi stock market on Wednesday witnessed positive trend with the support of institutions and foreign investors, and KSE-100 index registered an increase of 24.34 points to close at 12,036.36 points from 12,012.02 points. The index hit intra-day high le
Published 12 May, 2011 12:00am
Index gains 24.34 points

Index gains 24.34 points

Karachi stock market on Wednesday witnessed positive trend with the support of institutions and foreign investors, and KSE-100 index registered an increase of 24.34 points to close at 12,036.36 points from 12,012.02 points. The index hit intra-day high le
Published 12 May, 2011 12:00am
Index gains 24.34 points

Index gains 24.34 points

Karachi stock market on Wednesday witnessed positive trend with the support of institutions and foreign investors, and KSE-100 index registered an increase of 24.34 points to close at 12,036.36 points from 12,012.02 points. The index hit intra-day high le
Published 12 May, 2011 12:00am
Arab unrest: perspectives - XXV

Arab unrest: perspectives - XXV

What is the greatest challenge to the Obama administration at this point in time? Is the wave of political upheavals sweeping across North Africa and the Middle East good or bad for the United States? Francis Fukuyama, who is best-known for his book The E
Published 12 May, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 12 May, 2011 12:00am
Arab unrest: perspectives - XXV

Arab unrest: perspectives - XXV

What is the greatest challenge to the Obama administration at this point in time? Is the wave of political upheavals sweeping across North Africa and the Middle East good or bad for the United States? Francis Fukuyama, who is best-known for his book The E
Published 12 May, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 12 May, 2011 12:00am
Country facing serious threats: Prime Minister

Country facing serious threats: Prime Minister

Prime Minister Syed Yousaf Raza Gilani on Wednesday, informing about the serious threats being faced by the country, called for forging unity to uphold the national sovereignty and dignity. "Pakistan is facing serious threats and the situation demands mor
Published 12 May, 2011 12:00am
Country facing serious threats: Prime Minister

Country facing serious threats: Prime Minister

Prime Minister Syed Yousaf Raza Gilani on Wednesday, informing about the serious threats being faced by the country, called for forging unity to uphold the national sovereignty and dignity. "Pakistan is facing serious threats and the situation demands mor
Published 12 May, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 12 May, 2011 12:00am
White House backs Kerry's Pakistan trip

White House backs Kerry's Pakistan trip

The White House on Wednesday endorsed Senator John Kerry's trip to Pakistan, which is aimed at easing a confrontation with the key US anti-terror ally over the killing of Osama bin Laden. Kerry, the chairman of the Senate Foreign Relations committee, who
Published 12 May, 2011 12:00am
White House backs Kerry's Pakistan trip

White House backs Kerry's Pakistan trip

The White House on Wednesday endorsed Senator John Kerry's trip to Pakistan, which is aimed at easing a confrontation with the key US anti-terror ally over the killing of Osama bin Laden. Kerry, the chairman of the Senate Foreign Relations committee, who
Published 12 May, 2011 12:00am
Al Qaeda warns US of new jihad

Al Qaeda warns US of new jihad

Al Qaeda''s supremo in Yemen - Osama bin Laden''s ancestral homeland - has warned Americans of a bloodier jihadist struggle to come following Osama''s killing by US commandos. The warning from al Qaeda in the Arabian Peninsula came as top US Senator John
Published 12 May, 2011 12:00am
Al Qaeda warns US of new jihad

Al Qaeda warns US of new jihad

Al Qaeda's supremo in Yemen - Osama bin Laden's ancestral homeland - has warned Americans of a bloodier jihadist struggle to come following Osama's killing by US commandos. The warning from al Qaeda in the Arabian Peninsula came as top US Senator John Ker
Published 12 May, 2011 12:00am
Al Qaeda warns US of new jihad

Al Qaeda warns US of new jihad

Al Qaeda's supremo in Yemen - Osama bin Laden's ancestral homeland - has warned Americans of a bloodier jihadist struggle to come following Osama's killing by US commandos. The warning from al Qaeda in the Arabian Peninsula came as top US Senator John Ker
Published 12 May, 2011 12:00am
MQM holding referendum on US raid

MQM holding referendum on US raid

Muttahida Qaumi Movement (MQM) has organised a referendum with a view to formulating a national response on the US raid (it began at party's headquarters '90' on Wednesday evening). This was stated by Deputy Convener MQM Rabita Committee, Anees Ahmed Qaim
Published 12 May, 2011 12:00am
MQM holding referendum on US raid

MQM holding referendum on US raid

Muttahida Qaumi Movement (MQM) has organised a referendum with a view to formulating a national response on the US raid (it began at party's headquarters '90' on Wednesday evening). This was stated by Deputy Convener MQM Rabita Committee, Anees Ahmed Qaim
Published 12 May, 2011 12:00am
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