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Nov 29, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2011-07-01
Buffett-backed BYD makes debut in China

Buffett-backed BYD makes debut in China

Shares of BYD Co Ltd, the Chinese automaker backed by US billionaire Warren Buffett, surged as much as 46 percent on its Shenzhen market debut on Thursday, bucking bearish market sentiment after raising $219 million in its IPO. The jump surprised some ana
Published 01 Jul, 2011 12:00am
China, Hong Kong shares end tough month on positive note

China, Hong Kong shares end tough month on positive note

Hong Kong and China shares ended a tough month on a positive note on Thursday on hopes that a turnaround in Chinese shares can last, supported by valuations and anticipation of solid corporate earnings. Helping shares in Hong Kong was short-covering ahead
Published 01 Jul, 2011 12:00am
European shares soar

European shares soar

European shares hit their highest level in almost four weeks on Thursday after Greece's parliament passed a final vote on austerity measures, boosting market confidence that the country can pay its bills in the short-term. The Greek parliament approved de
Published 01 Jul, 2011 12:00am
LSE's future in Middle East hands after TMX failure

LSE's future in Middle East hands after TMX failure

Middle East investors Borse Dubai and the Qatar Investment Authority hold the key to the future of London Stock Exchange amid speculation it has become a take-over target after its aborted $3.5 billion bid for Canada's TMX Group. Borse Dubai owns nearly 2
Published 01 Jul, 2011 12:00am
FTSE remains higher

FTSE remains higher

Britain's top shares rose sharply on Thursday after the Greek parliament passed a second austerity bill to secure emergency funds, with riskier assets such as oil stocks, banks and miners leading the charge higher. The FTSE 100 index closed up 89.76 point
Published 01 Jul, 2011 12:00am
New Zealand dollar hits post-float high

New Zealand dollar hits post-float high

The New Zealand dollar powered to a post-float high against the greenback on Thursday, while the Australian dollar scaled a 26-year peak on sterling as investors piled into risk assets after Greece moved a step closer to securing emergency loans.
Published 01 Jul, 2011 12:00am
Sterling falls versus euro

Sterling falls versus euro

Sterling hovered near an eight-week low against a buoyant euro on Thursday, with the single currency drawing support from a relief rally as Greece's parliament edged closer to approving tough austerity measures needed to avoid a default.
Published 01 Jul, 2011 12:00am
Euro surges to three-week high

Euro surges to three-week high

The euro surged to a three-week peak against the dollar on Thursday, swept higher by a wave of stop-loss buying and extending a rally after Greece moved a step closer to securing international aid. Dollar-selling by macro hedge funds, a flurry of short-co
Published 01 Jul, 2011 12:00am
Euro rises in London

Euro rises in London

The euro rose to a three-week high against the dollar on Thursday, swept higher by month-end demand which helped it extend a rally after Greece moved a step closer to securing international aid. The single currency was also buoyed after comments from Euro
Published 01 Jul, 2011 12:00am
Early trade in New York: Euro climbs to three-week high

Early trade in New York: Euro climbs to three-week high

The euro rose against the US dollar on Thursday and headed for a second quarterly gain as Greece passed crucial bills to avert immediate default and on expectations that eurozone interest rates will rise again next week. Month-end flows also supported the
Published 01 Jul, 2011 12:00am
Euro climbs in New York

Euro climbs in New York

The euro rose against the dollar on Wednesday after Greece approved austerity measures needed to avoid a default, but whether its government can implement them could cap gains for the currency. Greek Prime Minister George Papandreou won a parliamentary ma
Published 01 Jul, 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 Thursday. 74.19/74.24 (previous 74.10/74.19). Call Money Rates: 4.75-9.00 percent (previous 4.75-10.00 percent).
Published 01 Jul, 2011 12:00am
Yuan flat

Yuan flat

The yuan ended flat against the dollar on Thursday, locking in a 1.94 percent gain for the first half of the year, a relatively slow pace of appreciation that traders expect to quicken in the second half. The yuan closed at 6.4640 on Thursday, a rise of j
Published 01 Jul, 2011 12:00am
Swiss franc falls versus euro

Swiss franc falls versus euro

The Swiss franc fell against the euro on Thursday after Greece's approval of austerity measures reassured markets and prompted investors to move into riskier assets. At 0752 GMT, the franc was 0.4 percent lower against the euro compared to the New York cl
Published 01 Jul, 2011 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee weakened in the June-quarter, ending a three straight quarterly rise, as local shares dragged, but the euro's surge during the period helped limit the fall, traders said. The partially convertible rupee ended 44.6950/7050 per dollar, 0.4
Published 01 Jul, 2011 12:00am
Ringgit breaches resistance, won up

Ringgit breaches resistance, won up

The South Korean won hit a near two-month high and the Malaysian ringgit breached a technical resistance on Thursday as real money accounts and leveraged funds bought emerging Asian currencies after Greece moved a step closer to international aid and avoi
Published 01 Jul, 2011 12:00am
Euro interbank rates hit highest in over three years

Euro interbank rates hit highest in over three years

Key euro-priced interbank lending rates hit their highest in over three years on Thursday after the ECB bolstered bets of an interest rate hike next week as Greece cleared another hurdle to securing international aid and avoid a near-term default.
Published 01 Jul, 2011 12:00am
Brazil, Norway push hard for World Cup wins

Brazil, Norway push hard for World Cup wins

Brazil and Norway lived up to their status as Group D favourites when they both opened their Women's World Cup campaigns with 1-0 wins on Wednesday. But the footballing heavyweights were pushed hard by rivals Australia and debutantes Equatorial Guinea res
Published 01 Jul, 2011 12:00am
Gayle signs for Sydney Thunder in Australian T20

Gayle signs for Sydney Thunder in Australian T20

West Indies allrounder Chris Gayle has signed with the Sydney Thunder for the inaugural season of the revamped Australian Twenty20 Big Bash tournament. The club announced Thursday that Gayle, one of world's leading T20 players, will join big-hitting opene
Published 01 Jul, 2011 12:00am
Probe into ticket sales launched

Probe into ticket sales launched

Cricket's world governing body has launched an investigation into "black marketeering" during the World Cup ticket sales fiasco that left thousands of fans with no hope of seeing the marquee matches. The International Cricket Council made the announcement
Published 01 Jul, 2011 12:00am
ICC chief defends abolition of 'runners'

ICC chief defends abolition of 'runners'

International Cricket Council chief Haroon Lorgat on Thursday defended the governing body's decision to abolish "runners" in One-Day International matches, suggesting batsmen were using them to cheat. The batsman's right to call on a substitute runner in
Published 01 Jul, 2011 12:00am
Pakistan boxing team leaves for Jakarta today

Pakistan boxing team leaves for Jakarta today

Pakistan boxing team - comprising of five pugilists and three officials, will leave for Jakarta (Indonesia) today (Friday) to take part in 21st President Cup International Boxing Tournament. The tournament will run from 3rd to 9th July. Pakistani team: Mo
Published 01 Jul, 2011 12:00am
Imran backs ban on meddling

Imran backs ban on meddling

Pakistan's legendary former captain Imran Khan on Thursday welcomed a decision from cricket's governing body to ban political appointments, calling for a total revamp of the national board. "The amendment will help Pakistan as there is no transparency and
Published 01 Jul, 2011 12:00am
ICC bans government meddling

ICC bans government meddling

Cricket's ruling body on Thursday banned countries from making political appointments to national boards, vowing to free the sport from undue influence and outright government meddling. The International Cricket Council, meeting in Hong Kong, said it had
Published 01 Jul, 2011 12:00am
Mithun removes Chanderpaul as West Indies keep reeling

Mithun removes Chanderpaul as West Indies keep reeling

Abhimanyu Mithun struck a vital blow for India in the last five minutes before lunch, removing Shivnarine Chanderpaul to leave West Indies 138 for six in the second Test on Thursday. Mithun bowled Chanderpaul for a painstaking 37, ending the durable left-
Published 01 Jul, 2011 12:00am
Pakistan slated to tour India in 2012

Pakistan slated to tour India in 2012

Pakistan have been pencilled in to tour India for a full series of Test and One-day cricket matches next year, in what would be a breakthrough in relations that were hit by the deadly 2008 Mumbai attacks. The International Cricket Council governing body's
Published 01 Jul, 2011 12:00am
Sharapova, Kvitova in final

Sharapova, Kvitova in final

Maria Sharapova, the rejuvenated glamour girl of women's tennis, will take on low-profile Czech player Petra Kvitova in the Wimbledon title showdown after two scrappy semi-finals on Thursday. Russian fifth seed Sharapova, the 2004 champion, outgunned Germ
Published 01 Jul, 2011 12:00am
Nadal to play through pain barrier at Wimbledon

Nadal to play through pain barrier at Wimbledon

Rafael Nadal said his mysterious foot injury will not prevent him chasing an 11th Grand Slam title at Wimbledon after he advanced to a semi-final showdown with Andy Murray. Nadal eased into the last four with a 6-3, 6-3, 5-7, 6-4 victory over Mardy Fish W
Published 01 Jul, 2011 12:00am
White House unveils retooled plan to hunt al Qaeda

White House unveils retooled plan to hunt al Qaeda

The United States will push ahead with more targeted drone strikes and special operations raids and fewer costly land battles like Iraq and Afghanistan in the continuing war against al Qaeda, according to a new national counterterrorism strategy unveiled
Published 01 Jul, 2011 12:00am
China opens world's longest sea bridge

China opens world's longest sea bridge

China has opened the world's longest cross-sea bridge. The Jiaozhou Bay bridge is 26 miles (42 kilometres) long and links China's eastern port city of Qingdao to the island of Huangdao. State-run CCTV says the 110-foot (35-meter)-wide bridge is the longes
Published 01 Jul, 2011 12:00am
US shifts to closer contact with Muslim Brotherhood

US shifts to closer contact with Muslim Brotherhood

The United States will resume limited contacts with Egypt's Muslim Brotherhood, Secretary of State Hillary Clinton confirmed on Thursday, saying it was in Washington's interests to deal with parties committed to non-violent politics. While Clinton portray
Published 01 Jul, 2011 12:00am
Bill Clinton expects to see Obama re-elected

Bill Clinton expects to see Obama re-elected

Former US president Bill Clinton said Thursday that he expects to see fellow Democrat Barack Obama re-elected to the White House in 2012. "I'll be surprised if he's not re-elected," Clinton told ABC News. "I've always thought he would be." Clinton, who le
Published 01 Jul, 2011 12:00am
Beijing-Shanghai high-speed train makes debut

Beijing-Shanghai high-speed train makes debut

High-speed trains linking Beijing and Shanghai made their passenger debut Thursday on a $33 billion track China hopes will help ease its overloaded transport system. Premier Wen Jiabao declared the link "in operation" at Beijing South rail station before
Published 01 Jul, 2011 12:00am
Arming Libyan rebels a 'crude violation': Russia

Arming Libyan rebels a 'crude violation': Russia

Russia accused France on Thursday of committing a "crude violation" of a UN weapons embargo by arming Libyan rebels, a stance which could also cause unease within the Western alliance bombing to remove Muammar Qadhafi. France confirmed on Wednesday that i
Published 01 Jul, 2011 12:00am
UN extends Golan forces mandate by six months

UN extends Golan forces mandate by six months

The UN Security Council on Thursday extended the mandate of the UN force monitoring the cease-fire in the Golan Heights between Syria and Israel by another six months. The unanimous decision extends the mandate of the UN Disengagement Observer Force (UNDO
Published 01 Jul, 2011 12:00am
Obama hails retiring Gates, the 'humble' patriot

Obama hails retiring Gates, the 'humble' patriot

US President Barack Obama hailed retiring Defence Secretary Robert Gates Thursday as an honest, humble man who loved his troops and had one of the best tenures of any civilian Pentagon chief. Obama appeared at an elaborate farewell ceremony to the gritty
Published 01 Jul, 2011 12:00am
Defiant Gaza flotilla activists vow to set sail

Defiant Gaza flotilla activists vow to set sail

Defiant pro-Palestinian activists vowed Thursday to overcome alleged sabotage and a bureaucratic nightmare to bring aid to Gaza, in breach of Israel's sea blockade. "Let me assure you all: we will sail, whether we have official clearance to do so or not,"
Published 01 Jul, 2011 12:00am
British population grows at fastest rate in 50 years

British population grows at fastest rate in 50 years

Britain's population grew at the fastest pace for nearly half a century last year, adding almost half a million people due in large part to a high birth rate, official data showed on Thursday. The population stood at 62,262,000 in mid-2010 which is an inc
Published 01 Jul, 2011 12:00am
Queen faces funding squeeze

Queen faces funding squeeze

Queen Elizabeth became the latest Briton to face a funding squeeze on Thursday when the government proposed changes to how it pays for royal trips and engagements. The Conservative-led government, which is imposing cost cuts and tax rises on more humble B
Published 01 Jul, 2011 12:00am
China should arrest Bashir: UN

China should arrest Bashir: UN

The UN's top human rights official criticised China on Thursday for failing to arrest Sudan's president so that he can be brought to trial on war crimes charges. UN High Commissioner for Human Rights Navi Pillay told reporters in Geneva she was "disappoin
Published 01 Jul, 2011 12:00am
Two Kabul Bank officials arrested

Two Kabul Bank officials arrested

Afghan authorities have arrested two former executives at the scandal-plagued Kabul Bank, which nearly collapsed last year because of mismanagement and questionable lending. Deputy Attorney General Rahmatullah Nazari said Thursday that former bank chairma
Published 01 Jul, 2011 12:00am
Rocket attack kills three American soldiers in Iraq

Rocket attack kills three American soldiers in Iraq

A rocket attack on a US base near Iraq's border with Iran killed three American soldiers, an official said Thursday, blaming the strike on a Shia militia linked to Tehran. The deaths came at the end of the bloodiest month for US troops in Iraq in two year
Published 01 Jul, 2011 12:00am
Man grabs Sarkozy during walkabout

Man grabs Sarkozy during walkabout

A man grabbed French President Nicolas Sarkozy and yanked him off balance before being wrestled to the ground by bodyguards on Thursday, television pictures showed. The unidentified man seized Sarkozy by the jacket as he was greeting people gathered behin
Published 01 Jul, 2011 12:00am
New York cotton ends lower

New York cotton ends lower

US cotton futures closed lower on Thursday, hitting their 5-cent downside limit at one point, after a government plantings estimate suggested the biggest US cotton crop in five years. The losses dragged fibre values down to close out the second quarter of
Published 01 Jul, 2011 12:00am
US copper surges

US copper surges

Copper surged nearly 3 percent to end at its priciest in nearly two months Wednesday, as repressed buyers flooded the market after a Greek parliament vote to accept austerity measures bolstered risk appetite. Copper's biggest one-day rally in more than tw
Published 01 Jul, 2011 12:00am
Shanghai copper surges

Shanghai copper surges

The most-active September copper contract on the Shanghai Futures Exchange surged 2.6 percent, closing the session at 69,860 yuan per tonne on Thursday, catching up with previous gains in London. That marked its third consecutive day of gains and a monthl
Published 01 Jul, 2011 12:00am
Copper climbs

Copper climbs

Copper hit its highest in two months on Thursday, supported by investors' greater appetite for risky assets after the safe passage of Greece's austerity plan, as well as positioning ahead of the end of the first half. Three-month copper on the London Meta
Published 01 Jul, 2011 12:00am
Brent posts biggest quarterly drop in a year

Brent posts biggest quarterly drop in a year

Brent crude futures finished slightly higher in seesaw trading on Thursday, with investors concerned about violence in Greece and uncertainty surrounding the IEA's emergency oil release plan. But Brent posted the biggest quarterly decline in a year, slidi
Published 01 Jul, 2011 12:00am
Tokyo, Shanghai rubber rise

Tokyo, Shanghai rubber rise

Tokyo rubber futures rose to a two-week high on Thursday on the back of firm oil prices and hopes that Greece was closer to securing international aid, but rising supply capped gains, dealers said. The benchmark rubber contract on the Tokyo Commodity Exch
Published 01 Jul, 2011 12:00am
New York sugar falls, cocoa jumps

New York sugar falls, cocoa jumps

Raw sugar futures reversed course and settled lower on profit-taking after hitting a 3-1/2-month high for a second straight day on Wednesday, while arabica coffee lurched up on late-day buying. Cocoa futures closed higher along with other commodities as t
Published 01 Jul, 2011 12:00am
Malaysian palm oil falls

Malaysian palm oil falls

Malaysian palm oil futures fell 1.2 percent on Thursday as traders booked profit on concerns that lower-than-expected exports data and high production could lead to record stocks. Although cargo surveyors reported Malaysia's palm oil exports in June rose
Published 01 Jul, 2011 12:00am
Liffe sugar lower

Liffe sugar lower

Sugar futures reversed to close lower after hitting four-month highs on Thursday, on profit-taking on the last trading day of the second quarter as the market was viewed as overbought. Concern about possible frost in the near future in top coffee grower B
Published 01 Jul, 2011 12:00am
US gold rises

US gold rises

Gold rose on Wednesday after the Greek parliament approved debt austerity measures, that fuelled investor appetite for commodities and other riskier assets and boosted the euro against the dollar. Also underpinning gold was President Barack Obama's call f
Published 01 Jul, 2011 12:00am
Gold little changed in Asia

Gold little changed in Asia

Gold held ground on Thursday after rising for the past two days, as an initial favourable vote on austerity measures by Greece's parliament weighed on the dollar, but low speculative interest and physical demand may cap gold's upside in the short term.
Published 01 Jul, 2011 12:00am
Gold falls in Europe

Gold falls in Europe

Gold fell on Thursday, although still heading for an 11th consecutive quarterly gain, as growing investor confidence that Greece would avoid a debt default dented perceived safe-haven assets. The euro maintained gains against the dollar after the Greek go
Published 01 Jul, 2011 12:00am
US MIDDAY: sugar tumbles

US MIDDAY: sugar tumbles

The ICE spot raw sugar futures jumped over 5 percent to trade at a fresh four-month high in thin dealings early on Thursday on the contract's last trading day, but the market reversed sharply from levels viewed as technically overbought. Dealers noted tha
Published 01 Jul, 2011 12:00am
US MIDDAY: corn plummets

US MIDDAY: corn plummets

Corn futures plummeted more than 10 percent in early trading on Thursday after a US government report said farmers were able to seed far more corn acres this spring than many analysts expected and that supplies are not as tight as many thought.
Published 01 Jul, 2011 12:00am
US MIDDAY: copper soars

US MIDDAY: copper soars

Copper ended up for a third straight day on Thursday, rallying to its highest in two months, as risk sentiment remained at a high after the safe passage of Greece's austerity plan. In New York, the key September COMEX contract settled up 5.85 cents or nea
Published 01 Jul, 2011 12:00am
US MIDDAY: gold down

US MIDDAY: gold down

Gold fell on the last day of the quarter on Thursday, as hopes that Greece would avoid a debt default eroded safe-haven interest, but secured an 11th consecutive quarterly gain on global economic uncertainty. Gold snapped a two-session winning streak even
Published 01 Jul, 2011 12:00am
Greater responsibility lies with provinces after devolution: Rabbani

Greater responsibility lies with provinces after devolution: Rabbani

Chairman Implementation Committee for 18th Amendment Mian Raza Rabbani said on Thursday that the provinces have been given a great responsibility of enhancing their capacity, effectiveness and transparency of governance after the devolution of 17 ministri
Published 01 Jul, 2011 12:00am
PFMA demand ban on wheat export

PFMA demand ban on wheat export

Pakistan Flour Mills Association (PFMA) has demanded ban on the export of wheat, fixation of unified price of the commodity in all federating units and stoppage of the harassment of flour millers of Balochistan by National Accountability Bureau (NAB).
Published 01 Jul, 2011 12:00am
Devolution to empower federation: Taj

Devolution to empower federation: Taj

General Secretary, Pakistan Peoples Party (PPP), Sindh, Taj Haider has said that transfer of powers to provinces through devolution process under the 18th Constitution Amendment would empower the federation. Talking to APP here on Thursday, on Devolution
Published 01 Jul, 2011 12:00am
Cutlery sector: EDB begins working on developmental, growth strategy

Cutlery sector: EDB begins working on developmental, growth strategy

Engineering Development Board (EDB) has started work on developmental and growth strategy for cutlery sector with the active participation of stakeholders. Its main objective is to improve exports. The Board has identified issues and major irritants to gr
Published 01 Jul, 2011 12:00am
BoK, SHMA sign agreement

BoK, SHMA sign agreement

The Bank of Khyber (BOK) and Sidat Hyder Morshed Associates (SHMA) entered an agreement to implement Bank Essentials Core Banking System across the entire Bank, says a press release received here on Thursday.
Published 01 Jul, 2011 12:00am
Government to celebrate 'Provincial Autonomy Day' today

Government to celebrate 'Provincial Autonomy Day' today

Pakistan People's Party (PPP) government would celebrate 'Provincial autonomy day' on the completion of devolution process successfully under 18th Amendment of the Constitution today (Friday). For smooth completion of devolution process, the Federal Gover
Published 01 Jul, 2011 12:00am
CDA announces Rs 23.96 billion budget

CDA announces Rs 23.96 billion budget

Chairman Capital Development Authority (CDA), Imtiaz Inayat Elahi, Thursday announced Rs 23.96 billion budget for 2011-12. "This year no mega project would be launched as the authority would concentrate on renovation, beautification and improvement of I a
Published 01 Jul, 2011 12:00am
CDA announces Rs 23.96 billion budget

CDA announces Rs 23.96 billion budget

Chairman Capital Development Authority (CDA), Imtiaz Inayat Elahi, Thursday announced Rs 23.96 billion budget for 2011-12. "This year no mega project would be launched as the authority would concentrate on renovation, beautification and improvement of I a
Published 01 Jul, 2011 12:00am
IFC helping to improve growth of small businesses

IFC helping to improve growth of small businesses

IFC, a member of the World Bank Group, is helping improve access to finance and support the growth of small businesses in Pakistan through an agreement with Habib Bank to expand the bank's small business lending programmes. IFC and Habib Bank will initial
Published 01 Jul, 2011 12:00am
SCO moot

SCO moot

President Asif Ali Zardari has, over the passage of time, been quite successful in building a soft, progressive image of Pakistan. The credit goes to his incessant efforts to make use of every available opportunity to present the real, moderate face of Pa
Published 01 Jul, 2011 12:00am
OIC - collective voice of Muslim world

OIC - collective voice of Muslim world

The Organisation of Islamic Conference (OIC) comprises of 57 nations spread over four continents and is the second largest international body after the UN. The organisation was established in 1969 after the Al-Aqsa Mosque was set on fire by an extremist Z
Published 01 Jul, 2011 12:00am
Finance Act 2011 sans self-reliance

Finance Act 2011 sans self-reliance

The adoption of Finance Bill 2011 on June 22, 2011 without any meaningful debate and in utter haste by the national parliament has once again proved that our elected representatives (sic) are least bothered to work for the welfare of the people by devisin
Published 01 Jul, 2011 12:00am
Devolution: functions and funds

Devolution: functions and funds

The federal cabinet approved the devolution of seven ministries to provinces on Tuesday which, in sum total, implies that 17 federal ministries and the concurrent list stand dissolved. The five subjects that would be retained by the federal government are
Published 01 Jul, 2011 12:00am
New saving schemes

New saving schemes

With a limit on government borrowings from the State Bank in order to contain price pressures on economy and the increasing reluctance of the foreign donors including the multilateral financial institutions to provide budgetary support, it was only natura
Published 01 Jul, 2011 12:00am
'Bid to dissolve Punjab Assembly will be foiled'

'Bid to dissolve Punjab Assembly will be foiled'

Punjab Opposition leader Raja Riaz has said that Chief Minister Shahbaz Sharif was hatching a plot to dissolve the Punjab Assembly but the PPP would never let him succeed in his ulterior motives. He was talking to media after meeting with the Acting High
Published 01 Jul, 2011 12:00am
British team meets minister

British team meets minister

3-member delegation led by acting British High Commissioner Peter Tibber called on the Punjab Education Minister Mian Mujtaba Shauja-ur-Rehman regarding Education Sector Reforms Programme. Alistair King and Mackenzi were in the delegation. Provincial Educ
Published 01 Jul, 2011 12:00am
Supreme Court urged to take notice of extra judicial killings in Fata

Supreme Court urged to take notice of extra judicial killings in Fata

The Central Shoora of the Jamaat-e-Islami has impressed upon the government to pull out of the US so called war on terror and stop the military operations in tribal areas and adopt the path of dialogue to restore peace in the Fata. A resolution adopted by
Published 01 Jul, 2011 12:00am
Murder of boy: LHC disposes of suo motu case

Murder of boy: LHC disposes of suo motu case

The Lahore High Court (LHC) Chief Justice here on Thursday disposed of a suo motu case against murder of a boy Shahbaz Butt by police in a fake encounter in Nishter Colony, as police has submitted challan of the case before the trial court. A law officer
Published 01 Jul, 2011 12:00am
'CCP needs complete financial autonomy'

'CCP needs complete financial autonomy'

The Competition Commission of Pakistan (CCP) is facing financial constraints mainly on account of non-payment of three percent of the fee and charges by the five regulatory bodies - SECP, Nepra, Pemra, Ogra and PTA. The CCP Chairperson Rahat Kaunain Hassa
Published 01 Jul, 2011 12:00am
LHC summons investigation officer FIA

LHC summons investigation officer FIA

The Lahore High Court on Thursday summoned investigating officer of Federal Investigation Agency (FIA) on Friday (today) in a petition filed by a NICL scam accused, Habibullah Warraich, seeking direction to remove his name from Exit control List (ECL).
Published 01 Jul, 2011 12:00am
Bank of Punjab loan scam: LHC issues notice to NAB for July 13

Bank of Punjab loan scam: LHC issues notice to NAB for July 13

A division bench of the Lahore High Court (LHC) here on Thursday issued notice for July 13 to National Accountability Bureau (NAB) in a bail petition of Sheikh Afzal of Haris Steels Mill, involved in Bank of Punjab loan scam. Former federal law minister B
Published 01 Jul, 2011 12:00am
'Tarar was President till September 8, 2008'

'Tarar was President till September 8, 2008'

Hearing a petition of former president Muhammad Rafiq Tarar, the Lahore High Court (LHC) here on Thursday directed the government to submit record and reply about payment of his pay and pension from December 1st, 2001 to September 8, 2008.
Published 01 Jul, 2011 12:00am
Hafiz Saeed case: LHC seeks reply from ministry till September 20

Hafiz Saeed case: LHC seeks reply from ministry till September 20

The Lahore High Court (LHC) here on Thursday sought reply by September 20 from ministry of foreign affairs on a law point that if government could defend a retired officer before a US Court then why the petitioner Hafiz Saeed was not entitled to the same
Published 01 Jul, 2011 12:00am
Appointments of VCs Justice Asmat refuses to hear intra-court appeal

Appointments of VCs Justice Asmat refuses to hear intra-court appeal

Justice Asmat Saeed of Lahore High Court on Thursday refusing to hear an intra court appeal against dismissal of petitions by a single bench through which appointment of vice chancellors for six public sector universities in Punjab was challenged and obse
Published 01 Jul, 2011 12:00am
PRGMEA concerned over delay in payment of Rs 23 billion claims

PRGMEA concerned over delay in payment of Rs 23 billion claims

Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) North Zone Mubashar Naseer has expressed concern over undue delay in payment of stuck up claims of Rs 23.42 billion under the Duty Drawback of Local Taxes and Levies (DL
Published 01 Jul, 2011 12:00am
State institutions running in deficit: PML-N chief

State institutions running in deficit: PML-N chief

Pakistan Muslim League-Nawaz (PML-N) Chief Mian Nawaz Sharif on Thursday said that the state institutions are running in deficit but the government is not paying any attention to improve the state of affairs. He said this while talking to reporters after
Published 01 Jul, 2011 12:00am
Sirajul Haq to visit UK

Sirajul Haq to visit UK

Jamaat-e-Islami's deputy chief, Sirajul Haq, will leave here for Britain, July 1, on the invitation of the UK Islamic Mission. While in Britain, Sirajul Haq will address the Pakistani community at different programmes to be organised by the Islamic Missio
Published 01 Jul, 2011 12:00am
Business Recorder staffer grieved

Business Recorder staffer grieved

The father of Syed Salahuddin Ahmed, a Business Recorder staffer passed away on Thursday. Namaz-e-Janaza of late Syed Saeed Ahmed Rizvi will be held on Friday (today) at Madina Masjid, near Moon Market, Allama Iqbal Town, Lahore, at 2pm (after Jumm
Published 01 Jul, 2011 12:00am
'Devastating repercussions likely if gas price raised'

'Devastating repercussions likely if gas price raised'

The huge 20 percent increase in gas prices planned by the government is likely to cast devastating repercussions on the national economy and oust the export-oriented industries from the international export market. The Lahore Chamber of Commerce and Indus
Published 01 Jul, 2011 12:00am
PIAF urges government not to raise gas prices

PIAF urges government not to raise gas prices

Pakistan Industrial and Traders Associations Front (PIAF) has urged the government to withdraw plans aimed at a massive increase in gas prices as it would be disastrous for major export earning sectors including textiles.
Published 01 Jul, 2011 12:00am
Workshop

Workshop

SUPARCO Institute of Technical Training (SITT) conducted the 2nd annual Water Rocket teachers' training workshop at SUPARCO HQs, Karachi, on 29 June 2011. The event was attended by 68 teachers of 35 schools from across the city. Secretary SUPARCO, Arshad
Published 01 Jul, 2011 12:00am
Soft launch event of Pakistani mangoes held at Asda Store

Soft launch event of Pakistani mangoes held at Asda Store

It is heartening to inform that a soft launch event of Pakistani mangoes was held at Asda Store in Longsight, Manchester on Tuesday. It is the first time ever that Pakistani mangoes are being imported and sold by a high street retailer in UK. To celebrate
Published 01 Jul, 2011 12:00am
Cathay Pacific Airways donates Rs two million for flood victims

Cathay Pacific Airways donates Rs two million for flood victims

The Hong Kong-based airline, Cathay Pacific, on Thursday donated Rs two million to Karachi Relief Trust and Al Umeed Rural School Project in a move to help the Flood effected victims of Pakistan. The cheques were handed over by Feroze Jamall, Country Mana
Published 01 Jul, 2011 12:00am
Implementation of MoU to be expedited: SBI assures Chinese CG

Implementation of MoU to be expedited: SBI assures Chinese CG

Sindh Board of Investment (SBI) on Thursday assured the Consul General of China Zhang Jianxin to expedite the implementation of MoU signed by China Wind Energy Company for power generation of 2,000 MW in Pakistan. The assurance was made at a meeting betwe
Published 01 Jul, 2011 12:00am
JCR-VIS reaffirms SAPICO's entity rating

JCR-VIS reaffirms SAPICO's entity rating

JCR-VIS Credit Rating Company Limited has reaffirmed the medium to long-term entity rating of Saudi Pak Industrial and Agricultural Investment Company Limited (SAPICO) at 'AA+' (Double A Plus) with a 'Stable' Outlook. Short-term rating has also been reaff
Published 01 Jul, 2011 12:00am
JCR-VIS reaffirms SAPICO's entity rating

JCR-VIS reaffirms SAPICO's entity rating

JCR-VIS Credit Rating Company Limited has reaffirmed the medium to long-term entity rating of Saudi Pak Industrial and Agricultural Investment Company Limited (SAPICO) at 'AA+' (Double A Plus) with a 'Stable' Outlook. Short-term rating has also been reaff
Published 01 Jul, 2011 12:00am
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