Sixth seed Li Na became the first Chinese player to reach the French Open quarter-finals on Monday with a disjointed 2-6, 6-1, 6-3 defeat of 21-year-old Czech ninth seed Petra Kvitova. Li, who became the first Chinese player to reach a Grand Slam final at
The Federal Board of Revenue (FBR) would continue with a major distortion in the sales tax regime by retaining Third Schedule of the Sales Tax Act 1990 in budget (2011-2012) under which manufacturers are paying sales tax of all the stages of value additio
The Federal Board of Revenue (FBR) would continue with a major distortion in the sales tax regime by retaining Third Schedule of the Sales Tax Act 1990 in budget (2011-2012) under which manufacturers are paying sales tax of all the stages of value additio
A parliamentary panel on Monday observed that obtaining quality education still remains a challenge for students in rural areas of federal capital, where government schools lack the very basic amenities. The National Assembly standing committee on cabinet
Federal government has decided the schedule of Population Census, which would commence on September 12 to run until 27th, highly informed sources of Sindh government disclosed this to Business Recorder, here on Monday. They said that Prime Minister, Syed
The name of Shell Gas LPG (Pakistan) Limited has been changed to Burshane LPG (Pakistan) Limited. According to a circular issued by Lahore Stock Exchange, the National Clearing Company of Pakistan Limited, vide its letter dated May 27, 2011, has assigned
Smoking is no less than suicide, as globally the death toll due to smoking is on the rise with an estimated five million deaths every year out of which 70 percent in under developed countries. Dr Ahsan Azhar, Consultant Hospitalise at Shaukat Khanum Memor
Muhammad Munir Ahmadani is a registered scholar in PhD in commerce on impact of small and medium enterprise (SME's) on employment in textile industry of Pakistan: a study of Sindh under the supervision of Professor Dr Anwar Ali Shah, Dean, Faculty of Comm
To facilitate its customers, Pakistan Telecommu-nication Company Limited (PTCL) has further expanded the network of its bill collection points. To this end PTCL has collaborated with Ufone to ensure that all PTCL customers can now also avail the facility
Sindh police on Monday arrested a suspected foreigner near US consulate in Karachi, in the limits of Jackson police station. According to details, the suspect, Syed Muhammad, who was arrested near the consulate on Mai Kolachi road, is an Iraq national. Po
PIA successfully relaunched its Air Safari Flight after a period of more than 6 years. The Air Safari flight to the Himalayas provides an awesome opportunity to visit the Roof Of The World, where majestic peaks of K2, Nanga Parbat, the world famous Concor
The Home Department of Sindh, has abolished the policy of issuing arms licence free of charge, said an official notification here on Monday. The notification has been issued in the light of the decision taken by Sindh cabinet that in future no 'Free of Fe
Nokia on Monday announced that the dual SIM Nokia X1-01 and Nokia C2-00 would soon both be on sale in Pakistan. Both models offer the most convenient and intuitive experience available for switching between SIM cards - without compromising on features and
Pakistan Stone Development Company (PASDEC) is launching a series of open auctions of regular and irregular marble blocks at its warehouses and quarry development project sites from June 1, 2011, official sources told Business Recorder. PASDEC, a s
Sindh Minister for Health Dr Sagheer Ahmed has said that the high rate of deaths of mothers and children is very worrying and health department was doing its utmost to achieve targets set under Millennium Development Goals by 2015, for reduction of the sa
Total Atlas Lubricants Pakistan (Pvt) Ltd unveiled the future of lubricants with the re-launch of its Quartz range with improved friction reduction technology now in new international packaging. The launching ceremony was held at a local hotel. The glitz
A policeman was gunned down in the jurisdiction of Bahadurabad police station on Monday. The incident took place at Karsaz road where unknown suspects fired multiple gunshots, when they were intercepted by police patrolling party during snap checking.
Sindh Governor, Dr Ishrat-ul-Ebad Khan on Monday summoned the management of KESC to Governor House and expressed his deep concern over growing problem of loadshedding in the metropolis. According to a statement of the Governor House issued after the meeti
Renowned organisation of the Pakistan agricultural sector, Four Brothers Group Pakistan held its international annual conference collectively in Bangkok, Thailand and Kuala Lumpur, Malaysia, in which more than 200 Group field managers and franchisees took
The government has proposed Rs 15 billion for the health sector to finance major programmes in the upcoming budget for 2011-12, it is learnt. Health Ministry will be devolved to provinces by June, 2011, however to implement Council of Common Interest (CCI
Sindh Agriculture department would give more 5,000 tractors to growers of province in Fiscal Year 2011-12, scheme has been included in Annual Development Programme (ADP) 2011-12, Business Recorder has learnt on Monday. Sindh Agriculture department
The official website of Karachi Press Club (KPC) was hacked by unknown hackers here on Monday. President KPC Tahir Hassan Khan confirmed that the website of the club was hacked. He condemned the act, saying that it was tantamount to gagging the freedom of
Chairman Export & Trade Development/Halal Food Certification Sub-Committee of Karachi Chamber of Commerce and Industry (KCCI), Agha Shahab Khan has suggested establishment of Energy Infrastructure Development Board. He said that the country does not have
Qaseem Jaffri, country manager DS-Concept Factoring-a German company, has said that Pakistan has huge potential to export quality goods in more profitable markets world-wide, but it is need of the hour to patronise and promote the export culture in the co
Masood Enam Elahi, Chief Patron of Pak Turk Businessmen Club, visited Pak Turk International School and College. During his visit, Elahi applauded the education standard and its administration. He said, "we have friendly ties with Turkey, and her effort t
The Oxford Dictionary Week commenced from Monday. It will be marked across the country up to June 4, an official of the Oxford University Press (OUP) Pakistan said here on Monday. A variety of Oxford dictionaries as well as thesauruses would be put on dis
Amidst much fanfare the National Economic Council (NEC) approved a Public Sector Development Programme (PSDP) of 730 billion rupees for FY12. The share of the federal government has been earmarked at 300 billion rupees (20 billion rupees in excess of the
Narratives shape history. The narrative is not the story itself but rather the telling of the story. After a tense meeting with top Pakistani leadership, US Secretary of State Hillary Clinton addresses a press conference, at the US embassy where she touch
After Ms Benazir Bhutto's assassination, Professor Michel Chossudovsky of the University of Ottawa and Director, Centre for Research on Globalisation, had made some predictions in his article entitled "The Destabilisation of Pakistan"; each passing day st
The audacious but highly "successful" attack on our Naval Installation in Karachi has been the talk of the town since the night of 22 May 11 when it was executed, but in this hour of uncertainty and near universal alarm, leadership is nowhere to be seen.
With a clear view across the water of the Kennedy Space Centre, little Space View Park in Titusville fills with thousands of visitors each time a shuttle is due to blast off. Soon, that will be just a memory as the 30-year-old shuttle programme winds down
This refers to a May 26 report on the proceedings of the Defence Committee of the Cabinet, (DCC) and some of the decisions taken during this meeting. As a concerned and enraged citizen, I was simply baffled and aghast to read the decision of the DCC that
Exporters fear that the government may impose excruciating taxes on them in order to increase revenue during the next financial year. According to the Chairman of Towel Manufacturers' Association of Pakistan (SC) (TMA), Usman Ali, since the government has
JCR-VIS Credit Rating Company Ltd (JCR-VIS) has upgraded the entity ratings of Pakistan International Container Terminal Limited (PICT) to 'A+ / A-1 (Single A Plus / A-One) from 'A / A-2' (Single A / A-Two). Outlook on assigned ratings is 'stable'.
JCR-VIS Credit Rating Company Ltd (JCR-VIS) has upgraded the entity ratings of Pakistan International Container Terminal Limited (PICT) to 'A+ / A-1 (Single A Plus / A-One) from 'A / A-2' (Single A / A-Two). Outlook on assigned ratings is 'stable'.
Naseem Usman, Chairman, Karachi Cotton Brokers' Forum (KCBF) has expressed his concern over the decision of the SECP for granting permission to the Pakistan Mercantile Exchange Limited for introduction of futures trading in cotton. Addressing a press conf
Karachi Electric Supply Company has reiterated the fact that its top priority is to bring the power distribution network in the city to its normal functioning state. KESC teams have been working round the clock under threats and attacks to normalise routi
The board of directors of State Life Insurance Corporation of Pakistan (SLICP) has approved Rs 18.59 billion as bonus to policyholders for the year 2010, showing an increase of 28 percent over the previous year 2009. Shahid Aziz Siddiqui, Chairman SLICP w
Karachi Electric Supply Company (KESC) will install three new power generating units at Bin Qasim Power Plant (BQPP), Business Recorder learnt here on Monday. These three units would be operational in June, July and August 2011, respectively, with
The Planning and Development Department, Government of Balochistan, opted recently for the Management Excellence Centre (MEC) of the Institute of Business Management (IoBM) for specialised training in capacity building in the overall developmental perspec
An in-depth analysis of cigarette industry by the Directorate General Intelligence and Investigation Federal Board of Revenue (FBR) has made astounding disclosure that counterfeiting of foreign origin brands, along with locally manufactured premium brands
The Federal Board of Revenue (FBR) has not yet issued the final income tax return form for companies, Association of Persons (AOPs) and individuals (Tax Year 2011), it is learnt here on Monday. Sources said that the draft SRO was issued on April 13, 2011,
PPP led opposition leader Raja Riaz Ahmad has demanded release of Judicial Flood Inquiry Tribunal (JFIT) report about breaching of canal protective embankments, dykes and spurs along the mighty river Indus causing losses of more than Rs 400 billions durin
Governor Khorasan Iran, Dr Mahmoud Salahi, accompanied by a 30-member delegation, paid a visit to Lahore Meat Company and Meat Complex. Provincial Minister for Food, Chaudhry Abdul Ghafoor informed the governor that Lahore Meat Complex is a joint venture
Pakistan Muslim League-Nawaz (PML-N) Chief Mian Nawaz Sharif would chair a meeting of Parliamentary Party to discuss forthcoming Budget (2011-2012) on Wednesday. They would also demand the government to establish a commission to investigate terrorist atta
Gold held steady at an over three-week high and silver edged up in anaemic trade on Monday, buoyed by expectations of further debt woes in the eurozone. With national holidays in the United States and Britain sapping liquidity, trading volume in US future
Gold held steady on Monday, buoyed by the ongoing debt crisis in the eurozone, while silver trimmed gains as a hike in margins by the Shanghai Gold Exchange kept sentiment in check. The Shanghai bourse plans to temporarily increase margins on gold and sil
Major Japanese trading house Mitsui & Co is considering boosting its commodity hedge business, hoping that more types of commodities may eventually be more closely linked to market prices, increasing the need for risk management.
Major Japanese trading house Mitsui & Co is considering boosting its commodity hedge business, hoping that more types of commodities may eventually be more closely linked to market prices, increasing the need for risk management.
Russia on Monday banned the import of all vegetables from Germany and Spain and warned the sanction could soon be applied to the rest of Europe because of the deadly E. coli bacteria scare. The country's consumer protection watchdog said in a statement th
Germany on Monday held crisis talks amid news that at least 12 people have died and hundreds have taken ill following an outbreak of a highly virulent strain of bacteria found on imported cucumbers. Belgium and Russia banned the import of vegetables from
Malaysian palm oil futures ended lower on Monday after hitting more than two-month highs as traders sold following a three-day rally and looked to exports data to set direction. "The market was overbought," said a trader with foreign brokerage in Kuala Lu
Tokyo rubber futures ended slightly higher on Monday as sentiment improved after the benchmark broke above major resistance at 390 yen, but weaker oil prices and profit-taking capped gains, dealers said. The benchmark rubber contract on the Tokyo Commodit
Egypt, the world's biggest wheat importer, said on Monday it welcomed the lifting of a Russian grain export ban but would exercise caution in its purchases from grower which had once been its biggest supplier. Nomani, vice chairman of the General Authorit
The impending end to Russia's ban on grain exports, officially announced on Saturday, pushed domestic wheat prices higher last week as exporters positioned to resume shipments, analysts said. "In the North Caucasus exporters remain active buyers of wheat
Japanese imports of platinum fell 3 percent in April from March, suggesting the March 11 earthquake, which halted production of automobiles, has had only a limited impact on demand. Ministry of Finance data showed on Monday that Japan imported 5.8 tonnes
Shanghai copper fell on Monday on technicals, European debt problems and uncertainty about the monetary policies of the United States and China, on track for a 1 percent loss in May. The most-active August copper contract on the Shanghai Futures Exchange
Brent crude oil fell below $115 a barrel on Monday, heading for its first monthly decline this year, as investors weighed the prospect that Europe's debt crisis and a sputtering US economy may slow demand. Public holidays in the United States and the UK o
President Barack Obama on Monday nominated Army General Martin Dempsey, a warrior-scholar who commanded troops in the Iraq war, as the top US military officer. Dempsey, whose pick requires US Senate confirmation, would replace Admiral Mike Mullen as chair
The United Nations on Monday condemned the "shocking" brutality of President Bashar al-Assad's regime, as activists said at least 15 people were killed in the latest crackdown on pro-democracy protesters. Dozens of tanks for a second straight day circled
Syria, in a policy reversal, has offered to cooperate fully with the UN atomic agency, which wants to inspect a suspected nuclear reactor site that was bombed by Israeli warplanes in 2007, diplomats said. The move comes as Western nations were pushing to
Japan's Supreme Court rejected a lawsuit Monday by a teacher reprimanded for refusing to face the flag and sing the national anthem, which unions argue praises the nation's militarist past. The 64-year-old is among dozens of teachers and other staff who i
Bangladesh is planning to integrate hundreds of Islamic religious schools into the mainstream secular education system in a revamp costing $70 million, an official said Monday. Up to five million children, out of a total of 32 million pupils, study at mad
The Yemeni air force bombed an al Qaeda-held southern city on Monday while residents in another city said soldiers had opened fire on a demonstration and run protesters over with bulldozers, killing at least 15. There were flashpoints across civil-war-thr
An Iranian diplomat in Egypt, briefly detained on suspicion of spying, was expelled on Monday, the official MENA news agency reported. Qasim al-Hosseini was briefly detained before being told he had to leave the country. He left for Dubai on Monday. An in
A renegade Afghan soldier killed a Nato service member on Monday in southern Afghanistan, while three other foreign troops died in a helicopter crash and roadside bombing elsewhere in the country, officials said. The International Security Assistance Forc
Secret prisons operated by the US Central Intelligence Agency (CIA) on Polish territory violated international law and the Polish constitution according to legal experts, reported the daily Gazeta Wyborcza Monday, citing sources close to an investigation.
A top Turkish general was jailed on Monday pending trial over an alleged 2003 plot to unseat Prime Minister Tayyip Erdogan's government, a move that could fuel tensions two weeks before a parliamentary election. General Bilgin Balanli, commander of Turkey
After years of pushing for tough sanctions against Iran, Israel has been left reeling by reports that an Israeli shipping company has been actively doing business with the Islamic republic. The scandal erupted last week, when the US State Department annou
A Saudi woman detained for defying the ultraconservative kingdom's ban on female drivers was released Monday after growing international pressure for her freedom, a rights activist said. The 32-year-old woman, Manal al-Sherif, became the centre of a growi
Italian Prime Minister Silvio Berlusconi suffered a shattering loss in his northern stronghold of Milan on Monday in local elections that threaten to unbalance his fractious centre-right coalition government. Already enmeshed in three corruption trials an
The US space shuttle Endeavour undocked from the International Space Station and headed back to Earth on Monday, wrapping up its final journey before entering retirement, NASA said. Endeavour's last mission is the penultimate flight for the 30-year-old US
England snatched a dramatic win over Sri Lanka in the rain-interrupted first Test on Monday after dismissing the visitors for 82 in their second innings on the final day. Fast bowler Chris Tremlett captured four for 40 and off-spinner Graeme Swann took fo
Paul Stirling's third one-day international hundred was the centrepiece of Ireland's 238 for eight against Pakistan in the second and final match of their series at Stormont here Monday. Ireland, skittled out for 96 during Pakistan's seven-wicket win in S
A South Korean footballer suspected of involvement in a widening match-fixing scandal was found dead Monday in an apparent suicide, police said. A hotel employee in southern Seoul found Jeong Jong-Kwan, a 29-year-old midfielder for third-division professi
European wheat futures closed down 5 percent on Monday as Russia's weekend announcement that it will lift a grain export ban from July 1 signalled the return of competitively priced Russian wheat onto the world market. Benchmark November milling wheat on
Prices moved up on the cotton market on Monday as mills showed interest in fresh buying in anticipation of further price rise in the near future, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 8,500, they said.
Mixed pattern was witnessed on the forward cottonseed oilcake market on Monday in process of trading, dealers said. The July contract that had closed at 1421.80 opened with a gain of 30 paisa at Rs 1422.10. The December vaida which ended at Rs 1315.20 com
Bearish trend was seen on the wholesale grain market on Monday as supply from upcountry centre was steady, dealers said. On the cereal side wheat old bardan old and new were down by Rs 20 to Rs 2480 and Rs 2495. Gur low type fell by Rs 100 to Rs 6500 whil
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
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