Spot gold held steady on Friday, set to cap a week marked by a narrow trading range as Greece's approval of austerity measures diminished safe-haven demand for bullion in the short term. Spot gold was little changed at $1,498.70 an ounce by 0602 GMT, near

Punjab University College of Information and Technology (PUCIT) won first prize in Innovative Research over all categories and second prize in the category of Information Systems in All Pakistan Inter Colleges and Universities Project and Research Competi

Fire engulfed a private medicine company and the godown of an international welfare organisation, destroying stock of millions of rupees, here on Friday. The company is situated in Sector I-9/1 where fire broke out early in the morning, which spread to ne

The government took notice, after media reports, about remaining Pakistani hostages in Somali. According to a private television channel, the government has contacted the ship's owner and sought details of seven more hostages. A task has been given to the

The Punjab government has on Friday carried out transfers and postings of senior government officials. According to a notification, Muhammad Aslam, District Officer (Human Resource Management), has been transferred with immediate effect and posted as Dire

Punjab Chief Minister, Shahbaz Sharif has said provision of a modern and comfortable transport system to the people is among the priorities of the government and measures are being taken for this purpose.

The Competition Commission of Pakistan (CCP) has imposed penalty of Rs 10 million on Engro Vopak Terminal Limited (EVTL) for the company's failure to seek exemption under Section 5 of the Competition Act, 2010. According to an order issued by the CCP here

Naib Amir, Jamaat-e-Islami (JI) Pakistan, Professor Khurshid has strongly condemned the US refusal to vacate the Shamsi Airbase and to continue its violation against Pakistan's sovereignty through drone attacks. Professor Khurshid further said that the re

Fear of litigation, penalties and Public Procurement Regulatory Authority's (PPRA) rules have reportedly encouraged the Oil and Gas Development Company Limited (OGDC) to award Uch-II gas project to Khan Research Laboratories (KRL), without going through t

Any increase in price of gas for fertiliser industry will cripple the agriculture sector and grievously endanger essential food security of the country, Board of Directors of Farmers Associates of Pakistan (FAP) has warned the government.

Junaid Esmail Makda, Central Chairman, All Pakistan CNG Association (APCNGA), while expressing great concern, has rejected the recent news by ECC to increase in tariff and curtailment of gas for CNG stations for 3-days in Punjab and 2-days in Sindh. He te

Japan has shown its willingness to provide both technical and economic assistance to promote science education in Pakistan. Ambassador of Japan Hiroshi Oe and Federal Minister for Science & Technology Mir Changez Khan Jamali had a meeting at minister's of

The Islamabad High Court on Friday dismissed, with costs, the writ petitions and appeals filed by long distance and international (LDI) operators against the Pakistan Telecommunication Authority (PTA) and Ministry of Information Technology & Telecom on th

All Pakistan CNG Association (APA) has demanded the government to maintain 50 per cent tariff parity between petrol and CNG prices. The APA, in its letter sent to Dr Asim Hussain, Federal Minister for Petroleum & Natural Resources, said the decision to in

Veteran Kashmiri Hurriyet leader, Syed Ali Geelani, has said that the ongoing freedom struggle will continue even if New Delhi doubled its military deployment in the territory. Syed Ali Geelani addressing a public gathering in Sopore said.

The renowned Japanese Production and Quality Management Expert Kiyoshi Yoshida left Pakistan on Friday after his two-month stay to conduct training programmes under the aegis of Small and Medium Enterprises Development Authority (SMEDA) in support of the

The Pakistan Economy Watch (PEW) on Friday said that the government has hit the masses hard with CNG bomb on the eve of new financial year. The government is to punish the masses for their inefficiency, mismanagement and corruption by hike in the domestic

Nawaz Sharif, Pakistan Muslim League-Nawaz (PML-N) chief, on Friday said that building national consensus for formulation of a 'national agenda' was need of the hour. He said that through the agenda it was necessary to put to an end to dictatorial approac

The provincial capital received heavy downpour on Friday morning and more heavy rain is expected in the next 24 hours. According to the Meteorological Department Lahore, the city received 47 mm of rain and the maximum temperature recorded was 28 Celsius d

Lahore High Court Chief Justice here on Friday adjourned to July 13 for arguments the hearing of a petition questioning the Punjab Government's Ashiana Housing Scheme as law officer informed the court that draw for allotment of plots was held in transpare

End of subsidies to the textile and clothing industry has worried the textile value chain, fearing a decline in exports ahead. The government has revoked schemes including the textile investment support fund, drawback on local taxes and levies, research a

Engro Food Limited (EFL) has registered sale of its products worth Rs 6.5 billion during the first quarter of year 2011 while it earned net profit amounting to Rs 117 million during the same period. The EFL Chief Financial Officer Imran Anwar disclosed th

Sunni Ittehad Council Pakistan (SICP) observed Data Darbar martyrs day across the country and demanded arrest of the culprits of bomb blasts at the Data Darbar in which more than fifty people were killed and scores were injured last year.

Punjab Chief Minister Muhammad Shahbaz Sharif has directed that ban on new constructions in Murree be strictly enforced and warned that stern action would be taken against the persons responsible for violation of the policy. He also issued instructions fo

The newly elected Board of Directors of Sui Northern Gas Pipe Lines Ltd, in a meeting held at head office Lahore has elected Mian Misbah-ur-Rehman as Chairman of the SNGPL for three years. Besides this different committees have also been formed. Dr Asim H

Punjab can export 5 billion dollars rice per annum by improving agricultural planning and taking timely decisions. This was stated by the Chairman Agri-Forum Pakistan Muhammad Ibrahim Mughal, while talking to media after the meeting of the Central Executi

While demanding role of business community in decision making, Pakistan Industrial & Traders Associations Front (PIAF) has urged the government to redesign all economy-related policies in consultation with private sector to bring the country out of IMF an

Hundreds of traders on Friday afternoon went on the rampage, blocking main M. A. Jinnah road in protest against the unabated electricity load shedding, saying the unavailability of power in markets caused them million of rupees losses on a daily basis.

Government College University (GCU) Lahore Library has been honoured with the "Best Library Award" by the International Society for Science and Religion (ISSR). The GC University Library is chosen for the award through a competitive and peer-review proces

The Karachi Electric Supply Company (KESC) has strongly condemned the hostile labour union rally outside the residence of CEO on Thursday where union miscreants demonstrated their unlawful, violent and indecent attitude by hurling threats and coercive slo

At least four persons were killed in different incidents at various parts of the metropolis on Friday. According to police, a bullet-riddled body of a youth was found at Kamil Street, Kharadar in the limits of Kharadar police station. The identity of the

The head of Labour Party and opposition leader in the British House of Parliament Ed Miliband MP in his meeting with President Asif Ali Zardari here on Friday discussed matters pertaining to multifacted relationship between the two countries including the

A man was injured in firing on Sirki road of the provincial capital. "A man was standing on Sirki road when a bullet fired from unknown location hit him", police told on Friday. As a result, he sustained bullet wounds. The victim was rushed to civil hospi

The Ministry of Textile Industry has decided to map out joint strategy, in collaboration with Commerce and Foreign Affairs Ministries, against the rejection of the EU tariff deal by the World Trade Organisation.

The Meteorological Department on Friday forecast scattered rain and dust thunderstorm in different parts of the upcountry, Kashmir and Gilgit-Baltistan during the next 24 hours. The fresh weather report of the Met Office says scattered rain and dust thund

The 10th Young Leaders' Conference began at a hotel here on Friday. The annual event is being organised by the School of Leadership (SOL). Sindh Secretary Youth Affairs and Sports, Syed Shoaib Siddiqui, was the chief guest. The organisers said that the th

Federal Minister for Information and Broadcasting, Dr Firdous Ashiq Awan on Friday shifted stance on Shamsi airbase being used by the US for drone attacks, saying that the statement was simply for the media. She further said that she was also a member of

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the entity ratings of National Bank of Pakistan (NBP) at 'AAA/A-1+' (Triple A / A-One Plus) with 'Stable' Outlook. The NBP dominates the commercial banking sector with market share of 14 perce

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the entity ratings of National Bank of Pakistan (NBP) at 'AAA/A-1+' (Triple A / A-One Plus) with 'Stable' Outlook. The NBP dominates the commercial banking sector with market share of 14 perce

Director IBA and former Governor, State Bank of Pakistan (SBP), Dr Ishrat Husain inaugurated the SBP Museum & Art Gallery on Friday at an impressive ceremony held at State Bank, Karachi. Speaking on the occasion, he said that he was delighted to see one o

President Pasban Pakistan, Altaf Shakur has condemned the rising expenses of rulers and urged them to slash their expenditures and think about the welfare of poor masses. In a statement on Friday he regretted that expenses of Prime Minister Secretariat we

In a mammoth effort to restore the stalled International Monetary Fund (IMF)'s programme, Pakistan has surpassed the 2010-11 revenue target by Rs 2.4 billion, giving a fiscal deficit of 5.3 percent of GDP.

The Supreme Court on Friday adjourned hearing of a petition, challenging the Lahore High Court (LHC) verdict against distribution of quota under Hajj Policy 2011. Al-Rahem Travels & Tours (Pvt) Limited and 16 others had filed the petition under article 18

PIA flight operation for Madina commenced from Friday. PIA Flight PK 743 departed from Karachi at 4:30 PM carrying over 200 passengers. The passengers of the said flight were welcomed by Managing Director PIA, Nadeem Khan Yousufzai who also operated the f

State-owned LPG producer Parco has increased its LPG base-stock price from Rs 68,000 per metric ton to Rs 72,000 per metric ton with effect from July 3. "The LPG producer prices trend had been below Saudi CP levels," said a spokesman for the LPG Associati

While paying homage to late judge of the Supreme Court, Justice Kamal Mansur Alam on Friday, Chief Justice of Pakistan Iftikhar Muhammad said that he was a man of immense wisdom and integrity. Condolence was held in the court room number 1 on the sad demi

Ahmad Kapadia, Chairman and Managing Director, Synergy Group of Companies addressed a seminar organised by Marketing Association of Pakistan (MAP), Lahore Chapter on a very interesting topic, 'Belief & Betrayal; Why Pakistan Needs Supermen?'. In a very an

Azad Jammu and Kashmir (AJK) High Court (HC) on Friday rejected a writ petition, filed by AJK chapter of Pakistan Muslim League -Nawaz (PML-N), challenging the validity of the recently-held elections to the state's Legislative Assembly, it was officially

The President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Ghulam Ali, on Friday said that encouraging and supporting women amount sto supporting future generations. He urged for making the women capable to play due role in national d

Chaudhry Shujaat Hussain along with senior minister Chaudhry Pervaiz Elahi called on Jamiat-e-Ulema-e-Islam (JUI-F) chief Maulana Fazal-ur-Rehman in a bid to foil an expected 'grand opposition alliance' comprising all hostile political parties bent upon t

Prime Minister Azad Jammu and Kashmir (AJK), Sardar Attique Ahmed Khan on Friday termed the alleged rigging in AJK polls as rehearsal for the forthcoming general elections in Pakistan. Addressing a news conference here, Attique alleged that both PPP and P

Business community urged the Islamabad Police and Islamabad Capital Territory Administration (ICT) to remove the unnecessary blockades and checkpoints to provide relief to general public as well as business community.

Chairman Parliament's Kashmir Committee Maulana Fazal-ur-Rehman has called for a just and amicable resolution of the lingering Kashmir dispute in accordance with aspirations of the Kashmiris. He said that there was a need to engage all the Kashmiri groups

A significant reduction has been witnessed in fatal and non-fatal road accidents during first half of year 2011, as compared to corresponding period of 2010 owing to hard work of Islamabad Traffic Police (ITP), said Dr Moeen Masood, SSP (Traffic) of ITP w

President and four vice-presidents were elected for a term of next three years for the Institute of Internal Auditors Islamabad Chapter. A large number of members of the institute from public and private sectors took part in the election.

Co Chairman India Pakistan CEO's Business Forum Amin Hashwani said on Friday that Indo Pak trade route project was sophisticated and provide updated facilities to ease trade. Talking to a private news channel, he said this agreement shared borders with Ne

It was an auspicious occasion for the world community, especially for the citizens of the food-deficient countries, when the finance ministers of the G-20 countries reached a historic accord to tame speculative trading in food commodities. The meeting hel

The Federal Commerce Minister, Makhdoom Amin Fahim, had been so confident about World Trade Organisation's (WTO) approval of the EU preferential trade package for Pakistan, announced last year, that he told the Lahore Chamber of Commerce and Industry, as

The science, if science it be of economics is divided firmly into micro and macroeconomics. Of late, there has been a considerable amount of action on the macroeconomics aspect and the IMF and the World Bank as well as the ADB are all rooting for the vari

A daiquiri at the Floridita, a mojito at the Bodeguita del Medio and an afternoon at Finca Vigia is the obligatory ritual for enthusiasts arriving in Cuba to honour the 50th anniversary of American writer Ernest Hemingway's death. In Cuba, devotees can wa

Lebanon faces "crucial challenges" after a tribunal investigating the assassination of former premier Rafik Hariri issued indictments and arrest warrants for members of Hezbollah, a main party in the government, analysts and Western diplomatic sources sai

I was in America when I learned of the brutal death of Saleem Shahzad, whom I had met many years back through Kamal Majidullah, who was Editor of the eveninger, Star of the Dawn Group, in those days. I had interacted with Saleem and he had helped me in ex

"Can you tell me a single good thing happening in this country today?"

The Bank of Khyber (BoK) and Sidat Hyder Morshed Associates (SHMA) have entered into an agreement to implement bank essentials core banking system across the entire bank. The agreement was signed by Feisal Khan, Divisional Head IT BoK and Arshad Hussain,

One person was killed in landmine blast in Yaro area of Dera Bugti on Friday. "Unidentified men had planted landmine on the road in Yaro area and it exploded when foot of a passer-by hit it", police said. As a result of explosion, the passerby sustained w

At least eight persons were killed and over a dozen injured in armed clashes between different religious groups in various areas of the city during the last 24 hours, police said. According to details, the clashes between the activists of Jamat-ud-Dawa an

Laiq Marjan, President All Tribal Contractors Association (ATCA), FATA has called for withdrawal of illegal six percent tax collection from contractors and demanded for release of their pending amount with Federal Government forthwith, and warned if their

An elementary textbook of Hindko language for school children has been published and handed over to the Khyber Pukhtunkhwa (KP) Textbook Board. The book is written by a noted Hindko writer, poet, linguist and research scholar, Professor Dr Elahi Bakhsh Aw

Demand for Halal certified food and other Halal products is increasing in Thailand among Muslim and non-Muslim consumers and Pakistani manufacturers and exporters of Halal food can capture this market. This was stated by Secretary General and CEO of Halal

Pakistan Telecommunication Company Limited (PTCL) has launched a countrywide new exciting Super Sunday offer, which has especially been designed to encourage its existing and potential PTCL landline customer. The PTCL landline customers will now be able t

It is a matter of immense pleasure and absolute proud to announce that the National savings, one of the leading withholding tax collecting agency, likewise past, once again stood firm with FBR to help achieve its Revenue target by contributing Rs 3.823 bi

Elders of Gashkori and Bangalzai tribes in Sibi have reached an agreement to implement ceasefire for period of one month. According to a statement issued here on Friday, elders of Bangalzai tribe along with a "Balochi Mairh" called on former district naib

Sugar production is likely to jump to 4.6 million tons in country after the start of new crushing season (2011-12) which is 15 percent higher than the last year's 4.1 million tons learned Business Recorder on Friday. The sugar production would go u

Sindh Irrigation department has failed again to meet the deadline to complete 41 rehabilitation schemes of Indus and non-Indus dykes, reliable sources told Business Recorder. The authorities of Irrigation department had announced that on-going reha

From July 1, 2011, Summit Bank Ltd (formerly Arif Habib Bank Ltd) and Mybank Ltd have officially merged and started operating as a single bank under the name of Summit Bank. The completion of the legal merger means that the two banks can now make accelera

Punjab Government has evolved a comprehensive strategy to eliminate the curse of bonded labour from the province and educational and social reforms are being introduced at the brick kilns under the reforms agenda.

Controller of Examinations, Sindh University (SU) has notified the schedule for LL.M previous and final examination 2010 here on Friday. According to an announcement the LL.M previous examination 2010 will be conducted from July 5 at the Institute of Law

Gold fell around 1 percent on Friday to record its second straight weekly loss, dragged down by fund selling amid commodity weakness and as safe-haven buying faded after Greece's approval of an austerity package. Bullion came under pressure as Wall Street

Copper started the new trading month on a firm footing on Friday, ending up for a fourth straight session as economic confidence improved on the back of stronger manufacturing data from the United States. In New York, the September COMEX contract settled

Corn futures tumbled for a second day in a row on Friday, falling more than 4 percent a day after a government report showed improved crop and supply prospects in the United States. Soybeans bounced back from a sell-off on Thursday fuelled by the US Depar

Raw sugar futures rose early on Friday, rebounding from an early drop on concern over the uncertain Brazil crop size; coffee fell, following the weak commodity complex. Cocoa closed higher as late-day buying fuelled a rebound from an early decline.

Gold fell more than 1 percent on Friday to a six-week low, hurt by a drop in oil prices, gains in the dollar versus a currency basket, and Greece's approval of an austerity package, which cut the metal's appeal as a haven from risk. Spot gold fell as low

The euro's advance against the dollar lost momentum on Friday after a rally this week as the market focus shifted to upcoming economic data, with Greece looking set to secure emergency funds and avert imminent default. The single currency, however, was su

US Treasury debt prices extended the week's losses on Thursday, ending the quarter on a weak note at odds with the bond market's overall move up over the last three months. Treasuries suffered from investors' waning appetite for safety as Greece approved

Seoul shares rose on Friday on improving sentiment and substantial foreign buying, with firm gains in technology stocks like Samsung Electronics helping the market. The Korea Composite Stock Price Index ended up 1.19 percent at 2,125.74 points. "These are

China's main stock index closed down 0.1 percent on Friday, as lingering worries over an imminent interest rate rise pushed large-cap banking stocks sharply lower. The benchmark Shanghai Composite Index ended at 2,759.4 points, reversing a rise earlier in

Indian shares ended higher for the second week in a row, but fell 0.44 percent on Friday as losses in Reliance Industries and Bharti Airtel and some profit-taking after six days of gains pulled down the main index. Shares in energy major Reliance fell 4.3

Australian stocks snapped a three-day winning run to fall 0.4 percent on Friday as weaker than expected Chinese PMI data and lukewarm Japanese business sentiment indicators weighed on shares. The main share index still notched up its second consecutive we

Britain's top shares rose on Friday, led by banks on positive US economic data and as immediate fears over the Greek debt situation subsided. The index posted its best weekly percentage gain in almost a year, up 5.1 percent, in a period, which saw Greece

The Australian and New Zealand dollars were heading for their best week in three months on Friday with even a slowdown in Chinese factory activity prompting only limited profit-taking. Factory output in Australia's largest trading partner expanded in June

The Indian rupee hit a near two-month high on Friday supported by a strong euro and robust dollar inflows which helped offset the impact of weak local shares, and traders expect further gains in the euro to underpin the local unit next week. The partially

Markets have firmed up their expectations for a European Central Bank interest rate hike this month with the bank's President striking a hawkish tone but are proving reluctant to price in further tightening. Greece's debt crisis had cast doubt on whether

The Swiss franc continued its downward slide versus the euro and the dollar on Friday as investors used the moment of relief offered by Greece's approval of austerity legislation to take profits. The franc fell to session lows against both the euro and th

The yuan closed slightly lower against the dollar on Friday, despite the People's Bank of China fixing a near record high mid-point, as dealers became less certain over how quickly the Chinese currency would rise in the coming months. The market expects t

Novak Djokovic powered into his first Wimbledon final here Friday with a four-set defeat of France's Jo-Wilfried Tsonga which ensured he will take over the world number one ranking. The Serbian second seed downed the 12th seed Tsonga 7-6 (7/4), 6-2, 6-7 (

India steadily increased their lead, following an early setback, reaching 62 for one in their second innings in the rain-affected second Test against West Indies on Friday. Abhinav Mukund was not out on 27 and Rahul Dravid was not out on 18, taking the In

India fast bowler Ishant Sharma gave credit on Friday to Zaheer Khan for saving his career. The 22-year-old fast bowler took a career-best six for 55 in the second Test against West Indies on Thursday at Kensington Oval, becoming the fifth youngest bowler

Sterling hovered near a 15-month low against the euro on Friday after a weak UK manufacturing survey backed the view that the Bank of England is likely to keep interest rates at record lows well into next year. The pound fell to its lowest since mid-March

The euro leaped to a three-week high against the US dollar on Thursday, ending with gains for the month and the second quarter, buoyed by relief that Greece will avert an imminent default and on expectations that eurozone interest rates will rise again ne

The euro hit a three-week high against the dollar on Friday, buoyed by better risk sentiment while the Swiss franc stumbled as Greece's passage of austerity measures prompted investors to cut back long positions in the safe-haven currency. With another hu