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Nov 30, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2011-06-23
European shares lower

European shares lower

European shares fell on Wednesday on concerns the US Federal Reserve will not be able to prop up a weakening recovery, while Philips Electronics plunged after a profit warning. Philips, Europe's biggest consumer electronics producer, slumped 8.8 percent.
Published 23 Jun, 2011 12:00am
FTSE slightly lower

FTSE slightly lower

Britain's top share index closed marginally lower on Wednesday, as weakness in banks offset gains in defensive stocks with investors jostling positions ahead of a US interest rate decision. London's blue chip index bobbed around but closed down 2.32 point
Published 23 Jun, 2011 12:00am
Money markets: Eonia to ease as ECB funding influx kicks in

Money markets: Eonia to ease as ECB funding influx kicks in

Overnight interbank rates look set to fall on Wednesday as banks receive the extra cash they bid for at this week's ECB tender, but caution was likely to prevail as long as uncertainty surrounded Greece, analysts said. Banks asked for an additional 51 bil
Published 23 Jun, 2011 12:00am
Sterling falls broadly

Sterling falls broadly

Sterling fell broadly on Wednesday, plumbing a eight-month low against a basket of currencies, after Bank of England minutes showed policymakers judged the growth outlook had weakened and some believed more stimulus may be needed. The pound slid as the Bo
Published 23 Jun, 2011 12:00am
Euro off highs in Asia

Euro off highs in Asia

The euro ran into profit-taking on Wednesday after the Greek government won a vote of confidence as expected, but further losses may be limited as the market's focus turns to the Federal Reserve and its comments on the slowing US economy. The Greek govern
Published 23 Jun, 2011 12:00am
Euro slips in London

Euro slips in London

The euro slipped against the dollar on Wednesday as investors who bought the single currency following a vote of confidence in the Greek government took profits, signalling market concerns that the eurozone debt crisis is far from over. Sterling also fell
Published 23 Jun, 2011 12:00am
Euro slips in midday trade

Euro slips in midday trade

The euro slipped on Wednesday as investors locked in gains after a vote of confidence in the Greek government and braced for more challenges including a crucial decision on the country's austerity plans.
Published 23 Jun, 2011 12:00am
Euro stays up in New York

Euro stays up in New York

The euro gained for a fourth straight session on Tuesday as investors placed bets that Greek Prime Minister George Papandreou would survive a confidence vote that could help the country avoid defaulting on its debt.
Published 23 Jun, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 73.97/74.07 (previous 73.95/74.05). Call Money Rates: 9.00-12.00 percent (previous 9.00-12.00 percent).
Published 23 Jun, 2011 12:00am
Australian and New Zealand dollar mark time

Australian and New Zealand dollar mark time

The Australian and New Zealand dollars held their ground against the greenback on Wednesday, but struggled to gain momentum from news the Greek government won a confidence vote in parliament. The Australian dollar last traded at $1.0585, having ranged bet
Published 23 Jun, 2011 12:00am
Swiss franc dips versus euro

Swiss franc dips versus euro

The safe-haven Swiss franc ticked lower against the euro on Wednesday after the Greek government survived a vote of confidence in parliament taking it a step closer to securing a 12 billion euro aid package. The franc fell 0.1 percent against the euro com
Published 23 Jun, 2011 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee edged lower on Wednesday after moving in narrow band, dragged by choppy local shares and worries over the euro's future course, with traders eyeing US Federal Reserve's rate decision for more cues on the dollar. The partially convertible
Published 23 Jun, 2011 12:00am
Won leads gains in Asian trade

Won leads gains in Asian trade

The South Korean won on Wednesday hit a seven-week high against the dollar, leading gains in its Asian peers, after the Greek government won a vote of confidence as expected and ahead of a news conference by the US Federal Reserve's chief later in the day
Published 23 Jun, 2011 12:00am
Chinese yuan hits record high

Chinese yuan hits record high

The yuan hit a record high against the dollar in late trade on Wednesday after the People's Bank of China set its mid-point at an all-time for the fourth straight day. The yuan may rise further in the near-term as China continues to use the currency to he
Published 23 Jun, 2011 12:00am
Sri Lanka replace injured Fernando with Prasad

Sri Lanka replace injured Fernando with Prasad

Sri Lanka Cricket on Wednesday called up bowler Dhammika Prasad to replace the injured Dilhara Fernando for the upcoming limited-overs series with England. Prasad, 28, last played a one-day match for Sri Lanka in 2009 when Pakistan toured Colombo. Since m
Published 23 Jun, 2011 12:00am
Chelsea appoint 'outstanding' Villas-Boas as coach

Chelsea appoint 'outstanding' Villas-Boas as coach

Chelsea have appointed FC Porto boss Andre Villas-Boas as their new manager in a record-breaking deal, a club statement announced on Wednesday. The 33-year-old, who emerged as the front runner for the job after resigning as Porto coach on Tuesday, has sig
Published 23 Jun, 2011 12:00am
PCB issues notices to Hafeez, Umar Akmal

PCB issues notices to Hafeez, Umar Akmal

Pakistan cricket has tightened gag orders on players by serving notices to opener Mohammad Hafeez and batsman Umar Akmal for allegedly violating their contracts, an official said Wednesday. "Hafeez and Umar have been served with show-cause notices for vio
Published 23 Jun, 2011 12:00am
Dravid steadies Indian ship

Dravid steadies Indian ship

Rahul Dravid survived an early chance, and batted doggedly, giving India the upper hand in the first Test against West Indies on Tuesday. The former Indian captain was on 45 not out, as India reached 91 for three in their second innings - an overall lead
Published 23 Jun, 2011 12:00am
BOA chief denies Olympic football ticket 'stunt'

BOA chief denies Olympic football ticket 'stunt'

The British Olympic Association (BOA) have insisted their announcement paving the way for players from Scotland, Wales and Northern Irish players to take part in a combined team at the 2012 Games was not a ploy to shift more than a million unsold tickets.
Published 23 Jun, 2011 12:00am
Afridi wants comeback

Afridi wants comeback

Pakistan's disgruntled former captain Shahid Afridi said he wants to make an international comeback, but insisted that certain members of the national team management would first have to leave. Last week the talismanic all-rounder appeared to have ended a
Published 23 Jun, 2011 12:00am
Wolfsburg fines Diego

Wolfsburg fines Diego

Bundesliga side VfL Wolfsburg have hit bad-boy Brazil midfielder Diego with a huge fine of 500,000 euros (720,262 US dollars) for storming out on his side at the end of last season, according to reports. Having been dropped by coach Felix Magath for the f
Published 23 Jun, 2011 12:00am
Sharapova dreams of repeating Wimbledon triumph

Sharapova dreams of repeating Wimbledon triumph

Former champion Maria Sharapova admits winning a second Wimbledon title would be the perfect way to erase the painful memories of her injury woes. Sharapova has struggled with a host of ailments over the last two years that caused her ranking to slip and
Published 23 Jun, 2011 12:00am
Li Na domain name up for grabs

Li Na domain name up for grabs

The soaring popularity of China's first Grand Slam champion Li Na is good news for a fan who owns the lina.cn domain name - now expected to fetch at least 100,000 yuan ($15,500) at auction next month. Liu Tailong - who bought the domain name for little mo
Published 23 Jun, 2011 12:00am
Zheng through in straight sets

Zheng through in straight sets

Zheng Jie, China's 2008 Wimbledon semi-finalist, made it through to the second round on Wednesday with a 7-5, 6-0 victory over Zuzana Ondraskova of the Czech Republic. There was little to separate the pair in the first set but Zheng raced away with the se
Published 23 Jun, 2011 12:00am
Venus struggles into third round

Venus struggles into third round

Venus Williams survived a huge scare before advancing to the third round at Wimbledon here Wednesday, downing Japanese veteran Kimiko Date-Krumm 6-7 (6/8), 6-3, 8-6 in a marathon three-hour battle. Five-time champion Williams, seeded 23 after a recent ret
Published 23 Jun, 2011 12:00am
FIFA report accuses Bin Hammam of bribery bid

FIFA report accuses Bin Hammam of bribery bid

Mohamed Bin Hammam tried to bribe officials in his campaign to oust Sepp Blatter as FIFA president, according to a secret report by the organisation's ethics committee obtained by Britain's Press Association. There was "comprehensive, convincing and overw
Published 23 Jun, 2011 12:00am
William and Kate in £1 million charity wedding gift

William and Kate in £1 million charity wedding gift

A fund set up by Prince William and Catherine to receive donations instead of wedding gifts has raised more than £1 million (1.2 million euros $1.7 million) for charity, palace officials said Wednesday. The money will go to 26 charities personally chosen
Published 23 Jun, 2011 12:00am
Michelle Obama urges Africa to advance women's rights

Michelle Obama urges Africa to advance women's rights

US First Lady Michelle Obama urged young Africans on Wednesday to fight for women's rights and battle the stigma of AIDS, using her husband's "yes, we can" campaign slogan to motivate youth across the continent. Obama is on her second solo trip abroad as
Published 23 Jun, 2011 12:00am
Three killed, 32 injured in Peru student protests

Three killed, 32 injured in Peru student protests

Three people were killed and 32 injured when Peruvian students clashed with police over plans for a new university in the central region of Huancavelica, officials said Wednesday. Authorities said the clashes erupted late Tuesday and went on into the nigh
Published 23 Jun, 2011 12:00am
Misrata hit; China shifts towards rebels

Misrata hit; China shifts towards rebels

Libya's rebels gained on the diplomatic front on Wednesday by securing China's recognition as a "dialogue partner", but suffered on the battlefield where Muammar Qadhafi's forces were able to shell their stronghold of Misrata. Four months into the uprisin
Published 23 Jun, 2011 12:00am
Taiwan lifts historic ban on Chinese solo tourists

Taiwan lifts historic ban on Chinese solo tourists

Taiwan on Wednesday lifted a decades-old ban on travel to the island by individual Chinese tourists, saying visitors would act as "peace ambassadors" for the former arch foe. The first batch of independent mainland tourists, from Beijing, Shanghai and the
Published 23 Jun, 2011 12:00am
Bahrain opposition men handed life sentences

Bahrain opposition men handed life sentences

Bahrain sentenced eight prominent Shia Muslim activists and opposition leaders to life in prison on Wednesday on charges of plotting a coup during protests in the Gulf island kingdom earlier this year. The sentencing could inflame tension in the Gulf Arab
Published 23 Jun, 2011 12:00am
Syria scorns EU criticism, says it sows chaos

Syria scorns EU criticism, says it sows chaos

Syria on Wednesday scorned the European Union's criticism of Damascus over its violent crackdown on popular unrest, saying this showed Europe wanted to sow chaos in the country. Foreign Minister Walid al-Moualem said he was confident that despite mounting
Published 23 Jun, 2011 12:00am
India to charge Somali pirates and their hostages

India to charge Somali pirates and their hostages

Indian police said Wednesday they would charge 14 suspected Somali pirates and their three hostages who drifted to within kilometres (miles) of the country's west coast in a fishing boat. A senior police official said that investigators believed three Yem
Published 23 Jun, 2011 12:00am
British police charge 19-year-old with hacking attacks

British police charge 19-year-old with hacking attacks

British police charged a 19-year-old man with cybercrime offences on Wednesday, Scotland Yard said, following his arrest in connection with an international hacking group. Ryan Cleary will appear in court in central London on Thursday to face five charges
Published 23 Jun, 2011 12:00am
China says no cyber warfare with US

China says no cyber warfare with US

There is no cyber warfare taking place between China and the United States, a senior Chinese official said on Wednesday, after weeks of friction over accusations that China may have launched a string of Internet hacking attacks. The two countries might su
Published 23 Jun, 2011 12:00am
62 al Qaeda prisoners escape from Yemen jail

62 al Qaeda prisoners escape from Yemen jail

At least 62 al Qaeda prisoners escaped from a south Yemen jail on Wednesday after they clashed with guards, killing one and wounding two others, security and medical officials told AFP. The prisoners fled the central jail in Al-Mukalla, capital of the sou
Published 23 Jun, 2011 12:00am
Saudi Arabia gives $70 million for Palestinian housing in Gaza

Saudi Arabia gives $70 million for Palestinian housing in Gaza

A UN agency aiding Palestinian refugees said Wednesday that Saudi Arabia is contributing $70 million for new housing units in the Gaza Strip. Israel has authorised construction of the 1,200 new homes and 18 badly needed schools in Gaza, in what would be o
Published 23 Jun, 2011 12:00am
Demand for sustainable cocoa to surge

Demand for sustainable cocoa to surge

Global demand for sustainable cocoa that pays a stable price to farmers and protects the environment is set to surge well over fivefold to more than 200,000 tonnes a year by 2020, Fairtrade said on Wednesday. Alex Assanvo, global product manager of the Fa
Published 23 Jun, 2011 12:00am
US copper up

US copper up

Copper ended with a near 1 percent gain on Tuesday, tracking gains in the broader financial market, as investors grew more optimistic that Greece will avoid a debt default. Risk sentiment improved and the euro rose for a fourth straight session, helping p
Published 23 Jun, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

The most-active August copper contract on the Shanghai Futures Exchange fell 0.8 percent to 67,740 yuan per tonne on Wednesday, after jumping 1 percent previously. "LME copper is still rangebound, moving within a small range of only $60 today," said a Syd
Published 23 Jun, 2011 12:00am
Copper eases

Copper eases

Copper eased ahead of a US rate statement on Wednesday and as markets focused on Greece, while signs of stronger demand growth from top consumer China helped underpin prices. Benchmark copper on the London Metal Exchange ended at $9,020 a tonne from $9,08
Published 23 Jun, 2011 12:00am
Oil rises three percent

Oil rises three percent

Oil rose 3 percent on Wednesday, boosted by data showing a drop in US crude and gasoline stockpiles as the market weighed comments from the US Federal Reserve. Crude rallied early on news of lower throughput on a key import pipeline from Canada and a stee
Published 23 Jun, 2011 12:00am
Tokyo, Shanghai rubber fall

Tokyo, Shanghai rubber fall

Key Tokyo rubber futures fell over 3 percent on Wednesday, dragged lower by selling in Shanghai rubber futures, concerns over demand from China and rising supplies from top producer Thailand. The benchmark rubber contract on the Tokyo Commodity Exchange
Published 23 Jun, 2011 12:00am
New York coffee rebounds, sugar up

New York coffee rebounds, sugar up

Coffee futures rose on Tuesday, rebounding after tumbling to near a five-month low in the previous session, with cocoa also getting a lift as investors grew less worried about the possibility that Greek might default on its sovereign debt. Raw sugar futur
Published 23 Jun, 2011 12:00am
Liffe coffee hits four-month low

Liffe coffee hits four-month low

Liffe September robusta coffee ended off $44 at $2,252 a tonne on Wednesday after hitting a four-month low of $2,248 earlier in the session. Market weighed by system fund selling. Liffe September cocoa ended 17 pounds higher at 1,901 pounds a tonne. Weakn
Published 23 Jun, 2011 12:00am
Malaysian palm oil falls

Malaysian palm oil falls

Malaysian palm oil futures fell 1.3 percent on Wednesday, as the imminent onset of a higher production cycle offset an anticipated short-term demand uptick. The benchmark September crude palm oil contract on the Bursa Malaysia Derivatives Exchange ended a
Published 23 Jun, 2011 12:00am
US gold holds gains

US gold holds gains

Gold rose for a third day on Tuesday, fuelled by a weaker dollar and doubts that the Greek debt crisis was completely resolved even after the government survived a late night confidence vote, as expected.
Published 23 Jun, 2011 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold hardly moved on Wednesday ahead of the outcome of a US Federal Reserve meeting which could weigh on the dollar, while worries the Greek debt crisis may affect other countries sent bullion bullion-priced in sterling to record high.
Published 23 Jun, 2011 12:00am
Gold rallies in Europe

Gold rallies in Europe

Gold reversed losses and rallied for a third day on Wednesday, driven by investors taking positions ahead of a US Federal Reserve meeting that could yield a downbeat view of the world's largest economy. The Fed's two-day meeting ends on Wednesday and the
Published 23 Jun, 2011 12:00am
US MIDDAY: coffee lower

US MIDDAY: coffee lower

Arabicas tapped the lowest level in nearly five months on indecisive dealings. The rest of the softs complex consolidated in mixed directions after recent volatility, dealers said. ICE September arabica coffee fell 1.10 cents to $2.4585 per lb, after tapp
Published 23 Jun, 2011 12:00am
US MIDDAY: wheat falls

US MIDDAY: wheat falls

US wheat fell 4 percent to a seven-month low on Wednesday on long liquidation by funds which was sparked by brighter prospects for global wheat output and advances in the US winter wheat harvest. Corn fell its daily 30 cent trading limit and plunged 15 pe
Published 23 Jun, 2011 12:00am
US MIDDAY: copper slips

US MIDDAY: copper slips

Copper held in negative territory on Wednesday as the dollar bounced against the euro and the Federal Reserve cut its forecasts for US economic growth but offered no indication of further monetary policy support. In New York, the key September COMEX contr
Published 23 Jun, 2011 12:00am
US MIDDAY: gold stays up

US MIDDAY: gold stays up

Gold extended its rally toward a record high on Wednesday, fuelled by uncertainty over Greece's debt crisis and expectations of loose global monetary policies after the Federal Reserve said the pace of US economic recovery was slower than expected.
Published 23 Jun, 2011 12:00am
SAP offers analytics solutions for SMEs, lines of business

SAP offers analytics solutions for SMEs, lines of business

As part of its goal to bring customers of all sizes powerful, easy-to-use analytics solutions that lead the market, SAP AG recently announced the latest offerings tailored to fit the needs of small and midsize enterprises (SMEs) and lines of business.
Published 23 Jun, 2011 12:00am
'Pakistan experiencing acute water stress'

'Pakistan experiencing acute water stress'

In the backdrop of population explosion, deforestation and industrial mobilisation, Pakistan is experiencing an acute water stress. Rector NUST Engr. Muhammad Asghar said this while addressing the inaugural session of a dialogue on Pakistan-From Food Bowl
Published 23 Jun, 2011 12:00am
ACE seeks CS directive to look after Guljee's plot

ACE seeks CS directive to look after Guljee's plot

The Anti-corruption Establishment (ACE) has approached Sindh Chief Secretary for issuance of directive to officials of CDGK to look after very costly plot of well-known artist Guljee, Business Recorder has learnt. Abdul M Ismaili (Guljee) was a ver
Published 23 Jun, 2011 12:00am
Analysts stress need for long-term resolution of IPPs issue

Analysts stress need for long-term resolution of IPPs issue

Although the four independent power producers (IPPs) have withdrawn the notices invoking sovereign guarantee, following assurance that Rs 15 billion outstanding dues will be cleared soon, another crisis of the same nature is fast developing as similar pay
Published 23 Jun, 2011 12:00am
BQATI welcomes Wajid Durrani's appointment

BQATI welcomes Wajid Durrani's appointment

The industrial community of Bin Qasim Town has hailed the appointment of Wajid Durrani, as Inspector General, Sindh and hoped that the new incumbent would strive hard to maintain law and order in the industrial and commercial hub of Pakistan - Karachi.
Published 23 Jun, 2011 12:00am
Pacra maintains AKBL ratings

Pacra maintains AKBL ratings

The Pakistan Credit Rating Agency (Pacra) has maintained the long-term and short-term entity ratings of Askari Bank Limited (AKBL) at AA (double A) and A1+ (A one plus), respectively. The ratings of three unsecured and subordinated TFC issues (Rs 1,500 mi
Published 23 Jun, 2011 12:00am
Pacra upgrades NAFA Fund's rating

Pacra upgrades NAFA Fund's rating

The Pakistan Credit Rating Agency (Pacra) has upgraded stability rating of NAFA Riba Free Savings Fund (NRFSF), open-end Islamic Income fund to 'AA-(1)' (Double A Minus - fund rating). The Fund's rating denotes a very strong capacity to manage relative st
Published 23 Jun, 2011 12:00am
Pacra upgrades NAFA Fund's rating

Pacra upgrades NAFA Fund's rating

The Pakistan Credit Rating Agency (Pacra) has upgraded stability rating of NAFA Riba Free Savings Fund (NRFSF), open-end Islamic Income fund to 'AA-(1)' (Double A Minus - fund rating). The Fund's rating denotes a very strong capacity to manage relative st
Published 23 Jun, 2011 12:00am
More than 50 percent rise in POL prices in two years

More than 50 percent rise in POL prices in two years

The prices of diesel and petrol increased by 67.5 percent and 57.33 percent respectively in the last two years. According to data collected by Business Recorder price of diesel rose by Rs 41 and petrol by Rs 32 per litre in the last two years: on J
Published 23 Jun, 2011 12:00am
UBL opens Islamic banking branch

UBL opens Islamic banking branch

The North Karachi Industrial Area Branch of UBL was recently inaugurated as a complete Islamic Banking Branch by Syed Usman Ali, CEO-North Karachi Industrial Development and Management Company.
Published 23 Jun, 2011 12:00am
Mother of Chairman NBP passes away

Mother of Chairman NBP passes away

Ms Salma Hashim Raza, wife of (Late) Hashim Raza, the first administrator of Karachi and the mother of Syed Ali Raza, Chairman NBP, passed away on Wednesday in Karachi after a short illness. She was around 90-year-old. She leaves behind, two sons (Mr Ali
Published 23 Jun, 2011 12:00am
Punjab University participates in third PYC in Karachi

Punjab University participates in third PYC in Karachi

Punjab University Department of Applied Psychology's six students have participated in the 3rd Pakistan Youth Congress (PYC) held in Karachi. The PYC was organised by the Drug-Free Pakistan Society from June 3-6. The students included Zainab Raza, Viqar S
Published 23 Jun, 2011 12:00am
Benazir Bhutto

Benazir Bhutto

As a comprehensive social safety net, the Benazir Income Support Programme (BISP) has introduced schemes to uplift the living standards of the poor segments of society besides providing them monthly cash grant as an immediate relief. In this regard, provi
Published 23 Jun, 2011 12:00am
Generating cheap electricity quickly

Generating cheap electricity quickly

I joined the Private Power and Infrastructure Board, an autonomous organisation within the Ministry of Water and Power, with governmental responsibility for overseeing all private independent power plants (IPPs) above 50 MWs in Pakistan in 2005. The last
Published 23 Jun, 2011 12:00am
International taxation: Impact of US economic substance doctrine

International taxation: Impact of US economic substance doctrine

Tax planning becomes a reality when the growth of a multinational enterprise form its very beginnings brings in the tax and structural issues inherent in its growth and these issues virtually affect all companies expanding into different territories. At t
Published 23 Jun, 2011 12:00am
Direct tax proposals

Direct tax proposals

The Finance Bill 2011 having presented before the National Assembly in early June 2011, is now available for comments. The proposed changes in the Income Tax Ordinance, 2001 are the subject matter of this analysis. The Finance Minister has an extremely di
Published 23 Jun, 2011 12:00am
Inquiry commissions: Decks finally cleared

Inquiry commissions: Decks finally cleared

Hopefully, decks have been finally cleared for judicial investigations into the May 2 Abbottabad raid and murder of journalist Saleem Shahzad. The court didn't take more than a day to decide the issue, as against the inordinate delay on the part of the go
Published 23 Jun, 2011 12:00am
Balochistan budget and consolidated deficit

Balochistan budget and consolidated deficit

The 6.7 billion rupees deficit proposed by the Balochistan Finance Minister Mir Asim Kurd will have implications for not only the province, but also for the federal government. The federal budget envisaged a consolidated provinces' surplus of 125 billion
Published 23 Jun, 2011 12:00am
Sacrifice of Benazir will not go in vain: Ambassador

Sacrifice of Benazir will not go in vain: Ambassador

The sacrifice of Benazir Bhutto Shaheed will not go in vain and the democracy will not only prevail in the country in true essence, but will also develop strong roots. This was stated by Ambassador of Pakistan Jamil Ahmed Khan while addressing a seminar o
Published 23 Jun, 2011 12:00am
Boy killed, eight injured as bus overturns

Boy killed, eight injured as bus overturns

A 10-year-old boy was killed while eight others injured when a passenger bus overturned at Landhi Future Mor in the limits of Sharafi Goth police station, on Wednesday. A speedy passenger bus (PE-5414) overturned at the Mor, which left a 10-year-old boy A
Published 23 Jun, 2011 12:00am
Lyari Medical College yet to begin its first academic session

Lyari Medical College yet to begin its first academic session

Political rifts besides some bureaucratic hurdles have put the future of hundreds of students at stake, as the Shaheed Benazir Bhutto Medical College, commonly known as Layari Medical College, is yet to start its first academic session of MBBS programme,
Published 23 Jun, 2011 12:00am
Another bid to import huge quantity of liquor foiled

Another bid to import huge quantity of liquor foiled

Model Collectorate of Customs (MCC) has foiled another bid to import huge quantity of liquor in the guise of diplomatic cargo. According to sources, the collector MCC PaCCS has received a tipoff that some unscrupulous elements would make another attempt t
Published 23 Jun, 2011 12:00am
Targeted killings continue: five including two political workers killed

Targeted killings continue: five including two political workers killed

At least five persons including two political workers were killed in an ongoing spate of targeted killings in various parts of the metropolis on Wednesday. According to police, two brothers and activists of Awami National Party (ANP) were gunned down at K
Published 23 Jun, 2011 12:00am
Tax experts criticise reduction in ST on imports

Tax experts criticise reduction in ST on imports

Tax experts said the decision to reduce sales tax on imports by 1 percent and the waiver of Special Excise Duty (SED) from June 20, 2011 has distorted the level playing field among businesses. They said the Federal Board of Revenue (FBR) has reduced the r
Published 23 Jun, 2011 12:00am
NAB asked to receive claim of Rs 60.45 million against Double Shah

NAB asked to receive claim of Rs 60.45 million against Double Shah

The Lahore High Court (LHC) here on Wednesday directed National Accountability Bureau (NAB) to receive the claim of Rs 60.45 million against Syed Sibt-ul Hassan Gillani alias Double Shah and file a supplementary reference against him. Chief Justice Ijaz A
Published 23 Jun, 2011 12:00am
Two FC men among five arrested for kidnapping

Two FC men among five arrested for kidnapping

Police on Wednesday busted a five-member gang of kidnappers, two of them stated to be the personnel of Balochistan Frontier Corps. Addressing a press conference here, Deputy Inspector General (Operations) Hamid Shakeel said the gang was involved in kidnap
Published 23 Jun, 2011 12:00am
Chief minister Sindh suspends president PPP Rathodero

Chief minister Sindh suspends president PPP Rathodero

Sindh Chief Minister, Syed Qaim Ali Shah has suspended president Pakistan Peoples Party (PPP) Taluka Rathodero, district Larkana, Ghulam Mustafa Agham. Syed Qaim Ali Shah, who is also President Pakistan Peoples Party (PPP) Sindh has suspended Ghulam Musta
Published 23 Jun, 2011 12:00am
Over 0.8 million metric tons of wheat lying under open sky

Over 0.8 million metric tons of wheat lying under open sky

Despite the passage of about two months, Sindh food department could not arrange godowns to store the procured wheat of over 0.8 million metric tons, it was learnt on Wednesday. The Sindh food department had achieved its wheat procurement target of 1.5 mi
Published 23 Jun, 2011 12:00am
Six suspects arrested in Islamabad

Six suspects arrested in Islamabad

Islamabad Police during its campaign against the criminals have arrested six persons for their alleged involvement in different crimes, besides recovering two pistols, 3.310-kg charas, 19 bottles of liquor from them. One woman was kidnapped and two women
Published 23 Jun, 2011 12:00am
Budget debate continues in Sindh Assembly

Budget debate continues in Sindh Assembly

A PPP legislator, Imran Zafar Laghari on Wednesday expressed dissatisfaction over the budget in the provincial assembly for the next fiscal year and regretted that bureaucracy had ignored his flood-ravaged district completely to allocate share in the upli
Published 23 Jun, 2011 12:00am
Flood victims: chief minister Punjab presented Rs 0.7 million cheque

Flood victims: chief minister Punjab presented Rs 0.7 million cheque

Punjab Chief Minister Shahbaz Sharif said that philanthropists had donated more than Rs 1.5 billion generously to his flood relief fund. He expressed these views during a meeting with Dr Najma Afzal Khan, wife of MPA Rana Muhammad Afzal Khan, disclosed an
Published 23 Jun, 2011 12:00am
Fake companies involved in illegal export of wet blue, split leather

Fake companies involved in illegal export of wet blue, split leather

A number of companies, with fictitious names, are involved in unlawful exports of wet blue and wet blue split leather, causing huge financial loss to the public exchequer, besides creating dearth of raw material for the local leather industry.
Published 23 Jun, 2011 12:00am
Reko Diq refinery to be set up soon: minister

Reko Diq refinery to be set up soon: minister

Balochistan Finance Minister Asim Kurd on Wednesday said that the feasibility report for Reko Diq gold and copper project has been finalised and funds for setting up a refinery have been allocated in the 2011-12 budget. Addressing post-budget briefing at
Published 23 Jun, 2011 12:00am
Punjab Assembly passes 2011-12 budget

Punjab Assembly passes 2011-12 budget

Punjab Assembly in its 27th budgetary session here on Wednesday approved 43 Demands for Grants worth Rs 653 billion and with that it passed the 2011-12 budget. Three cut motions of opposition were rejected. The Budget was passed with majority vote when PP
Published 23 Jun, 2011 12:00am
Iesco power suspension notice

Iesco power suspension 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: On Friday June (24) morning 7 am to 11 am, Rachna Woolen Mill feeder, Ball feeder
Published 23 Jun, 2011 12:00am
Mercury rise adds to people's woes

Mercury rise adds to people's woes

An increase in mercury has added to the miseries of people amid rising load shedding in the country. Power generation during last 24 hours stood at 14277MW against a demand of 17388MW, leaving the system with a shortfall of 3111MW. The hydel, thermal, IPP
Published 23 Jun, 2011 12:00am
Heritage caravan visits historic sites in Swat

Heritage caravan visits historic sites in Swat

Heritage caravan, under the Tourism Corporation (KP-TC), visited historic sites in scenic valley of Swat. The heritage caravan members included senior citizens, teenagers, and students. During weeklong visit to valley, the 26 members caravan had explored
Published 23 Jun, 2011 12:00am
Inter-provincial gang of car lifters, cheaters busted

Inter-provincial gang of car lifters, cheaters busted

Islamabad Police have busted an inter-provincial gang of car lifters and cheaters involved in sale of bank defaulted, non-custom paid and stolen vehicles on fake documents while two tampered vehicles, two rifles, fake registration books and other material
Published 23 Jun, 2011 12:00am
PPP Punjab criticises PML-N leadership

PPP Punjab criticises PML-N leadership

Pakistan People's Party (PPP) Punjab has criticised the PML-N leadership for bashing President Asif Ali Zardari. The PPP Punjab Secretary Information Dr Fakhar-ud-Din said the PML-N chief Nawaz Sharif was trying to put the national institutions at loggerh
Published 23 Jun, 2011 12:00am
Three educational institutions rehabilitated in Upper Dir

Three educational institutions rehabilitated in Upper Dir

In a bid to revive the education sector in a conflict hit area, the district administration has rehabilitated and equipped three educational institutions in Joghabanj and Badarkani villages of district Upper Dir under the Malakand Development Programme (M
Published 23 Jun, 2011 12:00am
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