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Print - 2011-05-26
PIBs auctions: Rs 27.9 billion bids accepted

PIBs auctions: Rs 27.9 billion bids accepted

The State Bank of Pakistan on Wednesday conducted auction of Pakistan Investment Bonds (PIBs) and accepted bids worth Rs 27.999 billion with a realised amount of Rs 25.82 billion. The SBP received Rs 40.054 billion worth bids for the sale of 3-, 5-, 7-, 1
Published 26 May, 2011 12:00am
PIBs auctions: Rs 27.9 billion bids accepted

PIBs auctions: Rs 27.9 billion bids accepted

The State Bank of Pakistan on Wednesday conducted auction of Pakistan Investment Bonds (PIBs) and accepted bids worth Rs 27.999 billion with a realised amount of Rs 25.82 billion. The SBP received Rs 40.054 billion worth bids for the sale of 3-, 5-, 7-, 1
Published 26 May, 2011 12:00am
PIBs auctions: Rs 27.9 billion bids accepted

PIBs auctions: Rs 27.9 billion bids accepted

The State Bank of Pakistan on Wednesday conducted auction of Pakistan Investment Bonds (PIBs) and accepted bids worth Rs 27.999 billion with a realised amount of Rs 25.82 billion. The SBP received Rs 40.054 billion worth bids for the sale of 3-, 5-, 7-, 1
Published 26 May, 2011 12:00am
UN sees risk of confidence crisis in dollar

UN sees risk of confidence crisis in dollar

The United Nations warned on Wednesday of a possible crisis of confidence in, and even a "collapse" of, the US dollar if its value against other currencies continued to decline. In a mid-year review of the world economy, the UN economic division said such
Published 26 May, 2011 12:00am
UN sees risk of confidence crisis in dollar

UN sees risk of confidence crisis in dollar

The United Nations warned on Wednesday of a possible crisis of confidence in, and even a "collapse" of, the US dollar if its value against other currencies continued to decline. In a mid-year review of the world economy, the UN economic division said such
Published 26 May, 2011 12:00am
UN sees risk of confidence crisis in dollar

UN sees risk of confidence crisis in dollar

The United Nations warned on Wednesday of a possible crisis of confidence in, and even a "collapse" of, the US dollar if its value against other currencies continued to decline. In a mid-year review of the world economy, the UN economic division said such
Published 26 May, 2011 12:00am
Central China's worst drought in over 50 years drying reservoirs

Central China's worst drought in over 50 years drying reservoirs

Central China's worst drought in more than 50 years is drying reservoirs, stalling rice planting, and threatens crippling power shortages as hydroelectric output slows, state media said Wednesday. Rainfall levels from January to April in the drainage basi
Published 26 May, 2011 12:00am
Hezbollah urges Syrians to back Assad regime

Hezbollah urges Syrians to back Assad regime

Hezbollah chief Hassan Nasrallah on Wednesday urged Syrians to back President Bashar al-Assad while calling for the rejection of sanctions imposed on Damascus over a deadly crackdown on pro-democracy protests. In a televised speech, the head of the powerf
Published 26 May, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (May 25, 2011).

Published 26 May, 2011 12:00am
Sudan's al-Bashir gives 'green light' for attacks

Sudan's al-Bashir gives 'green light' for attacks

Sudan's president gave northern troops a "green light" to attack southern forces if provoked, while gunmen from an Arab tribe fired on four UN helicopters taking off from a disputed border town at the heart of a new north-south conflict, officials said We
Published 26 May, 2011 12:00am
Yemenis flee sporadic gunbattles

Yemenis flee sporadic gunbattles

Yemenis fled the capital on Wednesday to escape gunbattles between loyalists and opponents of President Ali Abdullah Saleh, who said he would make no more concessions to those seeking his ouster. Sporadic machinegun fire rang out for the third day in the
Published 26 May, 2011 12:00am
Democrat wins special election for US House seat

Democrat wins special election for US House seat

Democrats picked off a heavily Republican congressional seat in a closely watched bellwether special election that may have blunted further Republican efforts to cut popular entitlement programmes as a way to close the federal deficit.
Published 26 May, 2011 12:00am
Obama warns Qadhafi of 'no let up'

Obama warns Qadhafi of 'no let up'

US President Barack Obama warned Libyan leader Muammar Qadhafi on Wednesday there would be 'no let up' in pressure on him to go, following a second successive night of heavy Nato bombing in Tripoli. Six loud explosions rocked Tripoli late on Tuesday withi
Published 26 May, 2011 12:00am
Troops reclaim Afghan district, 28 rebels dead

Troops reclaim Afghan district, 28 rebels dead

Coalition and Afghan troops on Wednesday retook control of a remote Afghan district in the northeast after fierce fighting that left 28 Taliban rebels dead, officials said. The Taliban had earlier captured western parts of Do Ab district in troubled Nuris
Published 26 May, 2011 12:00am
US soldier gets 12-1/2 years in detainee death

US soldier gets 12-1/2 years in detainee death

A mentally ill US soldier has been sentenced to 12-1/2 years in military prison after pleading guilty to killing a suspected Taliban member while he was sleeping in his jail cell. Pfc. David Lawrence pleaded guilty to premeditated murder in a military cou
Published 26 May, 2011 12:00am
After 25 years, talk show megastar Oprah cedes stage

After 25 years, talk show megastar Oprah cedes stage

Talk show queen Oprah Winfrey bade a tearful farewell to her groundbreaking television program Wednesday, ending 25 years of star confessions and exhortations that her legions of loyal followers "live their best lives." In a program taped one day earlier
Published 26 May, 2011 12:00am
Israel expands Jerusalem city limit to build homes

Israel expands Jerusalem city limit to build homes

Israel on Wednesday expanded part of its municipal boundary for Jerusalem, a city at the core of the conflict with Palestinians, and announced plans to build 50,000 homes for Jews and Arabs there over the next two decades.
Published 26 May, 2011 12:00am
Egypt to open Rafah crossing permanently

Egypt to open Rafah crossing permanently

Egypt will open its only crossing with the Gaza Strip this weekend, the Cairo military government announced Wednesday, significantly easing a four-year blockade on the Hamas-ruled territory but setting up a potential conflict with Israel. Egypt's official
Published 26 May, 2011 12:00am
Netanyahu offers no hope for peace: Abbas

Netanyahu offers no hope for peace: Abbas

Palestinian President Mahmoud Abbas said Israel was offering "nothing we can build on" for peace and that without progress he will seek UN recognition of Palestinian statehood in September. He told the Palestine Liberation Organisation on Wednesday that I
Published 26 May, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (May 25, 2011).

Published 26 May, 2011 12:00am
Cyber-attacks hit e-G8 web forum

Cyber-attacks hit e-G8 web forum

French President Nicolas Sarkozy's "e-G8" summit on the power of the Internet suffered a technical hiccup when cyber-attacks disrupted the forum's wireless connection, organisers said Wednesday. Since Tuesday "we have been undergoing a series of attacks a
Published 26 May, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (May 25, 2011).
Published 26 May, 2011 12:00am
Venezuelan oil workers rally against US sanctions

Venezuelan oil workers rally against US sanctions

Red-clad oil workers rallied in Venezuela on Wednesday to denounce "imperialist" US sanctions imposed for ties with Iran but the anger seemed unlikely to jeopardise a huge energy trade with the United States. Venezuelan officials from President Hugo Chave
Published 26 May, 2011 12:00am
EU finalises 'stress tests' for nuclear reactors

EU finalises 'stress tests' for nuclear reactors

European nuclear watchdogs have agreed details of new safety checks on the region's 143 reactors and said a group would be set up to deal with the risks of a nuclear crisis arising from a terrorist attack. By June 1, regulators will have to start checking
Published 26 May, 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 Wednesday (May 25, 2011).

Published 26 May, 2011 12:00am
Re-rollable scrap import: government asked to fix value at $200 per ton

Re-rollable scrap import: government asked to fix value at $200 per ton

Steel industry has requested the government to fix the value of re-rollable import scrap at $200 per ton because values of all other raw materials has also been fixed, it is learnt. In the 2011-12 budget recommendations, the steel sector has also asked th
Published 26 May, 2011 12:00am
Re-rollable scrap import: government asked to fix value at $200 per ton

Re-rollable scrap import: government asked to fix value at $200 per ton

Steel industry has requested the government to fix the value of re-rollable import scrap at $200 per ton because values of all other raw materials has also been fixed, it is learnt. In the 2011-12 budget recommendations, the steel sector has also asked th
Published 26 May, 2011 12:00am
Re-rollable scrap import: government asked to fix value at $200 per ton

Re-rollable scrap import: government asked to fix value at $200 per ton

Steel industry has requested the government to fix the value of re-rollable import scrap at $200 per ton because values of all other raw materials has also been fixed, it is learnt. In the 2011-12 budget recommendations, the steel sector has also asked th
Published 26 May, 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 Wednesday (May 25, 2011).

Published 26 May, 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 Wednesday (May 25, 2011).

Published 26 May, 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 Wednesday (May 25, 2011).

Published 26 May, 2011 12:00am
New PNS Mehran Commander appointed

New PNS Mehran Commander appointed

Pakistan Navy on Wednesday appointed Commodore Khalid Parvez as new PNS Mehran Base Commander with immediate effect following the removal of his predecessor Raja Tahir. Naval Headquarters has issued a notification to this effect. Navy officials did not di
Published 26 May, 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 26 May, 2011 12:00am
New PNS Mehran Commander appointed

New PNS Mehran Commander appointed

Pakistan Navy on Wednesday appointed Commodore Khalid Parvez as new PNS Mehran Base Commander with immediate effect following the removal of his predecessor Raja Tahir. Naval Headquarters has issued a notification to this effect. Navy officials did not di
Published 26 May, 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 26 May, 2011 12:00am
ISE index gains 11.43 points

ISE index gains 11.43 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 11.43 points, as the Index moved from 2,742.82 to 2,754.
Published 26 May, 2011 12:00am
ISE index gains 11.43 points

ISE index gains 11.43 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 11.43 points, as the Index moved from 2,742.82 to 2,754.
Published 26 May, 2011 12:00am
Bullish sentiments prevail on LSE

Bullish sentiments prevail on LSE

Bullish sentiments continued to prevail for the third consecutive day on the Lahore Stock Exchange (LSE) on Wednesday where equities maintained upward slides registered gains amid increased trading turnover. The LSE-25 index was increased to 3269.62 point
Published 26 May, 2011 12:00am
KASB - Pakistan's premier brokerage franchise

KASB - Pakistan's premier brokerage franchise

At KASB Securities, our goal is to be Pakistan's premier brokerage franchise, providing clients with exceptional service, real-time market and economic developments and value-added, return-generating investment insights and recommendations.
Published 26 May, 2011 12:00am
Bullish sentiments prevail on LSE

Bullish sentiments prevail on LSE

Bullish sentiments continued to prevail for the third consecutive day on the Lahore Stock Exchange (LSE) on Wednesday where equities maintained upward slides registered gains amid increased trading turnover. The LSE-25 index was increased to 3269.62 point
Published 26 May, 2011 12:00am
The Role of Securities Market in Economic Development

The Role of Securities Market in Economic Development

The securities market being an integral part of the Capital market is known as a market for long-term funds. It facilitates an efficient transfer of resources from savers to investors and becomes conduits for channelling investment funds from investors to
Published 26 May, 2011 12:00am
Gas tariff increase: SNGPL, SSGC given the go-ahead by Ogra

Gas tariff increase: SNGPL, SSGC given the go-ahead by Ogra

The Oil and Gas Regulatory Authority (Ogra) on Wednesday gave go-ahead to Sui Southern Gas Company Limited for increasing gas tariff by Rs 7.54 per mmbtu and Sui-Northern Gas Pipelines Limited by Rs 5.08 per mmbtu for the next fiscal year.
Published 26 May, 2011 12:00am
LAHORE STOCK EXCHANGE

LAHORE STOCK EXCHANGE

A PROFILE: Lahore Stock Exchange is the technologically advanced Stock Exchange of Pakistan situated in the largest populous Punjab province which caters to the needs of entrepreneurs for raising capital and provides investment opportunities to the
Published 26 May, 2011 12:00am
Gas tariff increase: SNGPL, SSGC given the go-ahead by Ogra

Gas tariff increase: SNGPL, SSGC given the go-ahead by Ogra

The Oil and Gas Regulatory Authority (Ogra) on Wednesday gave go-ahead to Sui Southern Gas Company Limited for increasing gas tariff by Rs 7.54 per mmbtu and Sui-Northern Gas Pipelines Limited by Rs 5.08 per mmbtu for the next fiscal year.
Published 26 May, 2011 12:00am
Gas tariff increase: SNGPL, SSGC given the go-ahead by Ogra

Gas tariff increase: SNGPL, SSGC given the go-ahead by Ogra

The Oil and Gas Regulatory Authority (Ogra) on Wednesday gave go-ahead to Sui Southern Gas Company Limited for increasing gas tariff by Rs 7.54 per mmbtu and Sui-Northern Gas Pipelines Limited by Rs 5.08 per mmbtu for the next fiscal year.
Published 26 May, 2011 12:00am
NIT - On the threshold of Golden Jubilee

NIT - On the threshold of Golden Jubilee

National Investment Trust (NIT) takes pride in being the first and the largest asset management company of Pakistan with the highest number of unit holders of any mutual fund in the country and with net assets constituting about one third of the entire mu
Published 26 May, 2011 12:00am
WHT on domestic power consumers: easiest way to broaden tax base: FBR

WHT on domestic power consumers: easiest way to broaden tax base: FBR

One of the easiest ways to broaden the tax base is to impose higher rate of withholding tax on electricity consumption of domestic consumers to ensure filing of income tax returns for individuals/employees and giving them a chance for claiming refund/adju
Published 26 May, 2011 12:00am
Role of capital market in economic development

Role of capital market in economic development

In an efficient market-based economy, the role of the capital market is critical in mobilising resources and channelling them efficiently for productive uses. The level of capital market development is an important determinant of a country's level of savi
Published 26 May, 2011 12:00am
WHT on domestic power consumers: easiest way to broaden tax base: FBR

WHT on domestic power consumers: easiest way to broaden tax base: FBR

One of the easiest ways to broaden the tax base is to impose higher rate of withholding tax on electricity consumption of domestic consumers to ensure filing of income tax returns for individuals/employees and giving them a chance for claiming refund/adju
Published 26 May, 2011 12:00am
Why Demutualization of Stock Exchanges?

Why Demutualization of Stock Exchanges?

Globally, capital markets play a crucial role in mobilising domestic resources and channelling them efficiently to productive uses, thus raising national productivity. The level of capital market development is an important determinant of level of savings
Published 26 May, 2011 12:00am
WHT on domestic power consumers: easiest way to broaden tax base: FBR

WHT on domestic power consumers: easiest way to broaden tax base: FBR

One of the easiest ways to broaden the tax base is to impose higher rate of withholding tax on electricity consumption of domestic consumers to ensure filing of income tax returns for individuals/employees and giving them a chance for claiming refund/adju
Published 26 May, 2011 12:00am
The Securities and Exchange Commission of Pakistan

The Securities and Exchange Commission of Pakistan

The Securities and Exchange Commission of Pakistan (SECP) was set up under the Securities and Exchange Commission of Pakistan Act, 1997 as the apex regulator of the capital market and corporate sector in Pakistan. Over time its mandate has been expanded t
Published 26 May, 2011 12:00am
Nepra approves Rs 1.07 raise per unit

Nepra approves Rs 1.07 raise per unit

Due to upward revision in furnace oil prices, the National Electric Power Regulatory Authority (Nepra) on Wednesday approved Rs 1.07 per unit increase in power tariff across the board, except for those who consume up to 50 units in a month. The decision w
Published 26 May, 2011 12:00am
Nepra approves Rs 1.07 raise per unit

Nepra approves Rs 1.07 raise per unit

Due to upward revision in furnace oil prices, the National Electric Power Regulatory Authority (Nepra) on Wednesday approved Rs 1.07 per unit increase in power tariff across the board, except for those who consume up to 50 units in a month. The decision w
Published 26 May, 2011 12:00am
Message from Managing Director/CEO Islamabad Stock Exchange

Message from Managing Director/CEO Islamabad Stock Exchange

At the outset, I express compliments for the management of the esteemed daily Business Recorder (BR) for their active role and contribution for the development of the capital market in Pakistan. The special supplement being issued is also a part o
Published 26 May, 2011 12:00am
Nepra approves Rs 1.07 raise per unit

Nepra approves Rs 1.07 raise per unit

Due to upward revision in furnace oil prices, the National Electric Power Regulatory Authority (Nepra) on Wednesday approved Rs 1.07 per unit increase in power tariff across the board, except for those who consume up to 50 units in a month. The decision w
Published 26 May, 2011 12:00am
Message from Managing Director/CEO Lahore Stock Exchange

Message from Managing Director/CEO Lahore Stock Exchange

Business Recorder the premier financial newspaper of the country deserves commendation for bringing together stakeholders of our financial system and highlighting the importance of Stock Exchanges to our economy. I believe that in the current tough
Published 26 May, 2011 12:00am
Ecnec to approve schemes worth billions of rupees today

Ecnec to approve schemes worth billions of rupees today

The Executive Committee of National Economic Council (Ecnec) will meet on Thursday to approve development projects worth billions of rupees. The meeting will be held under the chairmanship of Finance Minister Dr Abdul Hafeez Sheikh, in Prime Minister Secr
Published 26 May, 2011 12:00am
Message from Acting Managing Director Karachi Stock Exchange

Message from Acting Managing Director Karachi Stock Exchange

The Karachi Stock Exchange is a leading institution of the country playing an important role in the development of the capital market and our Economy. It is Pakistan's oldest and largest exchange with 650 listed companies and nearly $40 million dollars Ca
Published 26 May, 2011 12:00am
Ecnec to approve schemes worth billions of rupees today

Ecnec to approve schemes worth billions of rupees today

The Executive Committee of National Economic Council (Ecnec) will meet on Thursday to approve development projects worth billions of rupees. The meeting will be held under the chairmanship of Finance Minister Dr Abdul Hafeez Sheikh, in Prime Minister Secr
Published 26 May, 2011 12:00am
Message from Managing Director/CEO

Message from Managing Director/CEO

Pakistan Mercantile Exchange Commodity and Futures exchanges are now an integral part of financial markets world-wide. The Pakistan Mercantile Exchange (PMEX), which started its operations in May 2007, has shown exponential growth in the last four years a
Published 26 May, 2011 12:00am
Ecnec to approve schemes worth billions of rupees today

Ecnec to approve schemes worth billions of rupees today

The Executive Committee of National Economic Council (Ecnec) will meet on Thursday to approve development projects worth billions of rupees. The meeting will be held under the chairmanship of Finance Minister Dr Abdul Hafeez Sheikh, in Prime Minister Secr
Published 26 May, 2011 12:00am
Message from Chairman SECP

Message from Chairman SECP

On behalf of the Securities and Exchange Commission of Pakistan (SECP), I would like to felicitate the Business Recorder on bring out a special report on The Role of Capital Markets in the Economic Development of Pakistan. Timing of this special re
Published 26 May, 2011 12:00am
No dates fixed for Clinton's visit: foreign office

No dates fixed for Clinton's visit: foreign office

Terming speculation regarding US Secretary of State Hillary Clinton's visit to Pakistan as unwarranted, the Foreign Office on Wednesday said that no dates have yet been fixed for the visit. Foreign Office spokesman Tehmina Janjua on last Saturday told med
Published 26 May, 2011 12:00am
No dates fixed for Clinton's visit: foreign office

No dates fixed for Clinton's visit: foreign office

Terming speculation regarding US Secretary of State Hillary Clinton's visit to Pakistan as unwarranted, the Foreign Office on Wednesday said that no dates have yet been fixed for the visit. Foreign Office spokesman Tehmina Janjua on last Saturday told med
Published 26 May, 2011 12:00am
Russian wheat exports will only be moderate if ban ends

Russian wheat exports will only be moderate if ban ends

Russian wheat exports will only be moderate if the country ends an export ban this summer as it will need much of a large new wheat harvest itself, a leading commodity analyst said during the Reuters Black Sea grain forum. "I do not think Russia will be a
Published 26 May, 2011 12:00am
Coordinated efforts to be made: DCC

Coordinated efforts to be made: DCC

The Defence Committee of the Cabinet (DCC) on Wednesday decided that co-ordinated efforts will be made to prevent and pre-empt acts of terrorism. The DCC meeting held here at the PM House with Prime Minister Syed Yusuf Raza Gilani in the chair, was attend
Published 26 May, 2011 12:00am
Thailand may sell sugar to Europe if EU approves duty-free import

Thailand may sell sugar to Europe if EU approves duty-free import

Thailand may sell more sugar to Europe if the EU approves a duty-free import quota for 200,000 tonnes, potentially lifting premiums despite a record output in the world's second-largest exporter, industry officials and traders said on Wednesday.
Published 26 May, 2011 12:00am
Coordinated efforts to be made: DCC

Coordinated efforts to be made: DCC

The Defence Committee of the Cabinet (DCC) on Wednesday decided that co-ordinated efforts will be made to prevent and pre-empt acts of terrorism. The DCC meeting held here at the PM House with Prime Minister Syed Yusuf Raza Gilani in the chair, was attend
Published 26 May, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 104,551 tonnes of cargo including 63,154 tonnes of import cargo, 41,397 tonnes of export cargo and 5,698 loaded & empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 63,154 tonnes comp
Published 26 May, 2011 12:00am
Obama urges Western leadership at 'pivotal' moment

Obama urges Western leadership at 'pivotal' moment

US President Barack Obama said Wednesday that a "pivotal moment" had been reached in world history after a "difficult decade" that made Western leadership as indispensable as ever. In a keynote address to both houses of parliament in London, the president
Published 26 May, 2011 12:00am