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Print - 2011-07-12
South East Asian markets retreat

South East Asian markets retreat

Southeast Asian stock markets retreated on Monday as investors cashed in gains in financials and big-caps after weak global economic data, including poor US job figures, with caution ahead of interest rate decisions in Indonesia and Thailand underpinning
Published 12 Jul, 2011 12:00am
Nikkei average falls

Nikkei average falls

The Nikkei average fell on profit-taking on Monday after three weeks of gains, hurt by weak US and Chinese economic data, but it held the 10,000 line as investors avoided building large positions with the US corporate earnings season starting. Shares of l
Published 12 Jul, 2011 12:00am
Monday's afternoon trade: Wall Street drops over one percent

Monday's afternoon trade: Wall Street drops over one percent

US stocks slumped more than 1 percent on Monday as worries about the US budget talks and the eurozone debt crisis sent a shudder through markets and overshadowed the start of earnings season. Renewed concerns that Europe's debt crisis would spread, an inc
Published 12 Jul, 2011 12:00am
Taiwan stocks down

Taiwan stocks down

Taiwan stocks closed 0.96 percent lower on Monday, pressured by a 2.1 percent fall in chip makers, over concerns about the outlook for tech firms. Hon Hai fell 1.43 percent. The electronics giant said earlier on Monday that it plans to list its distributi
Published 12 Jul, 2011 12:00am
Cambodia launches bourse without trading

Cambodia launches bourse without trading

Cambodia launched its long-awaited national stock exchange on Monday, aimed at boosting economic growth - but trading is not set to start for months because of a string of delays. During the opening ceremony for the exchange, Economy and Finance Minister
Published 12 Jul, 2011 12:00am
Seoul shares lower

Seoul shares lower

Seoul shares closed 1.1 percent lower on Monday, as major exporters such as Samsung Electronics Co Ltd and Hyundai Motor Co took a beating on renewed worries over the global demand outlook after poor US jobs data. US jobs data on Friday came in short of e
Published 12 Jul, 2011 12:00am
Indian shares slip

Indian shares slip

Indian shares slipped for the second straight session on Monday, ending down 0.7 percent as renewed concerns about the health of the global economy turned investors cautious ahead of key earnings later this week. The decline was led by technology and fina
Published 12 Jul, 2011 12:00am
Hong Kong shares decline broadly; China up

Hong Kong shares decline broadly; China up

Hong Kong shares declined broadly as turnover hit its lowest in six weeks on Monday after disappointing global economic data, but strength in defensives helped China shares eke out gains on average turnover. Investors continued to short Chinese banks, whi
Published 12 Jul, 2011 12:00am
Australian shares fall

Australian shares fall

Australian stocks fell the most in nearly a month on Monday, hurt by weak data from the two biggest global economies, Europe's debt crisis and worries about the impact on corporate profits from Canberra's carbon tax plan unveiled on Sunday. Coal miners, s
Published 12 Jul, 2011 12:00am
European shares end at two-week low

European shares end at two-week low

European shares fell to a two-week closing low on Monday, with affected stocks heavily sold off on escalating worries that the threat of contagion from the Greek debt crisis could lead to more countries requiring financial aid. The pan-European FTSEurofir
Published 12 Jul, 2011 12:00am
FTSE plummets on debt, economic concern

FTSE plummets on debt, economic concern

Concerns over Europe's debt crisis and the global economy sent Britain's top shares sharply lower on Monday, leaving investors anxious for a strong earnings season to kick-start further buying of equities. The UK benchmark index ended down 61.42 points or
Published 12 Jul, 2011 12:00am
Interbank rates rise

Interbank rates rise

Intensifying bond market anxiety centred on Italy and impending bank stress test results look set to drive interbank funding rates higher and boost demand for European Central Bank loans. Bank-to bank lending rates rose on Monday on signs the eurozone deb
Published 12 Jul, 2011 12:00am
Euro slides in Asia

Euro slides in Asia

The euro fell back close to a record low versus the Swiss franc and hovered near chart support versus the Australian dollar on Monday, hurt by renewed jitters over the eurozone's debt crisis ahead of an emergency meeting of European officials. The euro fe
Published 12 Jul, 2011 12:00am
Early trade in New York: Euro sinks versus Swiss franc

Early trade in New York: Euro sinks versus Swiss franc

Fear that the eurozone's debt crisis could spill over into Italy drove the euro to a record low against the Swiss franc on Monday as policy-makers tried to come up with a plan for a second round of Greek aid. The currency also tumbled to a four-month low
Published 12 Jul, 2011 12:00am
Euro hits record low versus Swiss franc in London

Euro hits record low versus Swiss franc in London

The euro hit a record low against the Swiss franc on Monday due to concerns Europe's debt crisis is spreading to its core economies, and the single currency looked vulnerable to more losses. Top EU finance officials gathered for an emergency meeting in Br
Published 12 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 Monday. 74.45/74.47 (previous 74.30/74.39). Call Money Rates: 9.00-12.00 percent (previous 9.00-12.00 percent).
Published 12 Jul, 2011 12:00am
Indian rupee down

Indian rupee down

The Indian rupee ended down on Monday dragged by the euro's weakness against the dollar and weak local shares, with importer demand for the greenback also weighing. The partially convertible rupee ended at 44.4750/4850 per dollar, 0.3 percent weaker than
Published 12 Jul, 2011 12:00am
Baht leads Asian currencies lower

Baht leads Asian currencies lower

The baht led Asian currencies lower on Monday on short-dollar covering by interbank traders although easing political worries and expectations of a rate increase by the Thai central bank lent some support. Bank of Thailand may raise interest rates on Wedn
Published 12 Jul, 2011 12:00am
Yuan falls

Yuan falls

The yuan was little changed versus the dollar on Monday, guided by a stable mid-point set by the People's Bank of China, with traders taking a wait-and-see attitude until a clear sign emerges on further appreciation. Spot yuan closed at 6.4671 on Monday,
Published 12 Jul, 2011 12:00am
New Zealand dollar up versus euro

New Zealand dollar up versus euro

The New Zealand dollar rose to a six-month high versus the euro on Monday while the Australian dollar held near two-month peaks, but both Antipodean currencies slipped on the greenback as concerns about Europe's debt crisis hit risk appetite. The euro fel
Published 12 Jul, 2011 12:00am
Pound falls versus dollar

Pound falls versus dollar

Sterling fell to a five-month low against the dollar on Monday, and struck a three-month trough versus the yen, as concerns that Italy may be the next country to be engulfed by the eurozone debt crisis prompted investors to seek safe-haven currencies.
Published 12 Jul, 2011 12:00am
New York cotton settles near nine-month low

New York cotton settles near nine-month low

Cotton futures ended down and near a 9-month low Monday on investor liquidation on a stronger dollar and jitters over the effects the eurozone debt crisis will have on economic growth and fibre demand, brokers said. The key December cotton futures on ICE
Published 12 Jul, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

The most-active September copper contract on the Shanghai Futures Exchange ticked down 0.6 percent on Monday to close at 71,470 yuan per tonne. "I think copper is still strong although there is a small technical correction today as the market digests pric
Published 12 Jul, 2011 12:00am
Copper declines

Copper declines

Copper fell on Monday as concerns over Italy's sovereign debt curtailed appetite for risky assets, and the dollar rose but strikes in producer countries highlighted supply constraints and lent support to prices. Three-month copper on the London Metal Exch
Published 12 Jul, 2011 12:00am
Oil remains down

Oil remains down

Oil fell for a second day on Monday as fears of a widening eurozone debt crisis and a drop in Chinese crude imports rekindled concerns about a demand slowdown. After Friday's disappointing US June employment data, investors remain on edge about a meeting
Published 12 Jul, 2011 12:00am
Tokyo, Shanghai rubber fall

Tokyo, Shanghai rubber fall

Tokyo rubber futures dropped 2.5 percent to a one-week low on Monday as weak US economic data raised concern about demand, and falling oil prices added to the downward pressure, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange f
Published 12 Jul, 2011 12:00am
Aluminium demand to double in 10 years

Aluminium demand to double in 10 years

World demand for aluminium will double in the next decade, driven by growing use in aircraft, transportation and luxury cars, the head of major European products maker Amag said on Monday. "We forecast that demand for aluminium will double within the next
Published 12 Jul, 2011 12:00am
Malaysian palm oil down

Malaysian palm oil down

Malaysia palm oil futures fell on Monday, weighed by stocks that hit an 18-month high last month and lacklustre exports. But losses were limited thanks to firmer competing soyoil markets that gained on concerns that hotter weather in US Midwest may affect
Published 12 Jul, 2011 12:00am
Liffe coffee lower

Liffe coffee lower

Liffe September robusta coffee ended $83 lower at $2,354 a tonne on Monday. Prices dragged down by a sharp setback in ICE arabica coffee with favourable crop weather in Brazil combining with overall weakness in commodity markets to fuel the fall.
Published 12 Jul, 2011 12:00am
Gold steadies in Asia

Gold steadies in Asia

Spot gold was steady on Monday, as the dimmed outlook for the US economy and persistent worries about eurozone nations' debt problem supported sentiment. The weaker-than-expected payrolls data last Friday dampened hopes that the US economy would bounce qu
Published 12 Jul, 2011 12:00am
Gold stays up in London

Gold stays up in London

Gold rose for a sixth day on Monday in its longest stretch of gains since March, driven by investor concerns over the potential spread of the eurozone debt crisis. The euro fell by more than 1 percent against the dollar, which hit two-week highs against a
Published 12 Jul, 2011 12:00am
US MIDDAY: sugar drops

US MIDDAY: sugar drops

ICE raw sugar futures fell early on Monday as a stronger dollar, along with concerns that the eurozone debt crisis was worsening, weighed on commodity prices. October raw sugar on ICE was off 0.18 cent or 0.6 percent at 29.18 cents a lb at 1449 GMT, parin
Published 12 Jul, 2011 12:00am
US MIDDAY: wheat falls

US MIDDAY: wheat falls

Wheat fell 2.5 percent on Monday as a rising dollar weighed on grains, and improved prospects for Russia's crop accelerated wheat's plunge. Wheat fell the hardest, with an analyst raising its harvest outlook for No 4 wheat grower Russia, while conditions
Published 12 Jul, 2011 12:00am
US MIDDAY: copper lower

US MIDDAY: copper lower

Copper ended lower for a second straight session on Monday as European debt contagion fears and rising Chinese inflation gripped the market and helped withdraw some support from a recent spate of supply disruptions. In New York, the benchmark September CO
Published 12 Jul, 2011 12:00am
US MIDDAY: gold off highs

US MIDDAY: gold off highs

Gold rose early on Monday on fear that the European debt crisis could spill into Italy, but risk-averse selling across asset classes dragged bullion prices sharply off their session highs. Silver fell 2 percent, taking a beating along with other industria
Published 12 Jul, 2011 12:00am
25 jailbirds involved in disturbances

25 jailbirds involved in disturbances

Sindh police on the direction of home department have identified some 25 influential jailbirds that are reportedly involved in operating worst-ever recent spree of violence in the city from prisons, Business Recorder learnt it on Monday. According
Published 12 Jul, 2011 12:00am
Government wants to hold dialogue with MQM: Malik

Government wants to hold dialogue with MQM: Malik

Interior Minister Rehman Malik has said that the government still intends to enter into a dialogue with MQM to resolve political differences. "PPP will continue its policy of reconciliation with all parties without any discrimination", Rehman Malik said h
Published 12 Jul, 2011 12:00am
Status after devolution: JPMC doctors, staff seek details

Status after devolution: JPMC doctors, staff seek details

The Joint Action Committee of Jinnah Postgraduate Medical Centre doctors and staff in a meeting on Monday urged the authorities to announce a clear-cut policy about their status in the post-devolution phase of federally administered institutions as JPMC.
Published 12 Jul, 2011 12:00am
Old city markets: trading activity drastically scaled down

Old city markets: trading activity drastically scaled down

Renewed terror on Monday revisited Karachi after a couple of days of lull in violence, which largely caused panic among the public and business community and scaled back trade activities in the old city parts of the metropolis to almost nothing. A spin wa
Published 12 Jul, 2011 12:00am
EFU General Insurance appoints chairman

EFU General Insurance appoints chairman

The board of directors of EFU General Insurance Ltd has appointed Saifuddin N Zoomkawala as chairman of the company in place of Rafique R Bhimjee, effective July 11, 2011. According to a communiqué despatched to Karachi Stock Exchange here Monday, Hasanal
Published 12 Jul, 2011 12:00am
Violence in old city areas; four killed

Violence in old city areas; four killed

The law-and-order situation of the city remained tense as four persons were killed and several others injured in old areas of the metropolis on Monday. According to details, the warfare between Kachi community and the Lyari gangsters at Lyari claimed four
Published 12 Jul, 2011 12:00am
MQM cancels general workers' convention

MQM cancels general workers' convention

The founder and leader of Muttahida Quami Movement (MQM) Altaf Hussain called off the general workers' meeting announced to be held on Monday in view of the precarious law and order situation in the country particularly in Karachi. Talking to MQM co-ordin
Published 12 Jul, 2011 12:00am
Sindh Assembly session: MQM submits adjournment motion

Sindh Assembly session: MQM submits adjournment motion

The MQM's provincial legislators on Monday submitted an adjournment motion in the Sindh Assembly Secretariat to discuss issues concerning public life, in the Wednesday's session. Muttahida wants to bring on the assembly platform issues of public concerns
Published 12 Jul, 2011 12:00am
Revival of commissionerate system in Sindh

Revival of commissionerate system in Sindh

The revival of the commissionerate system in Sindh has been generally welcome, particularly when the rest of the three provinces have already restored the said system sometime ago. So much so, that the Sindhi nationalists who are said to be the worst 'ene
Published 12 Jul, 2011 12:00am
Space industry in transition, community in peril?

Space industry in transition, community in peril?

The end of the shuttle programme with Atlantis' ongoing mission means not just the end of the spectacle that draws thousands to the slice of Florida beaches known as the Space Coast, but also the end of a livelihood for those who have serviced the decades
Published 12 Jul, 2011 12:00am
Hoping against hope

Hoping against hope

On July 7, Asrar Rauf, Additional Secretary Revenue Division announced that FBR had overshot the FY11 revenue target of Rs 1.58 trillion, and what he reported on June 30 was the 'exact' revenue collected by all the three LTUs and 14 RTOs that achieved the
Published 12 Jul, 2011 12:00am
Inflation during 2010-11

Inflation during 2010-11

Inflation continues to pose a high degree of risk to macro-stability in the country. According to the latest data released by the Federal Bureau of Statistics (FBS), the CPI, which is the most relevant tool of measuring inflation in Pakistan, rose by as m
Published 12 Jul, 2011 12:00am
US aid cut: can't work or won't work?

US aid cut: can't work or won't work?

It's quite familiar - in the past also Washington resorted to aid cut-offs and sanctions to exert pressure on Pakistan to gain leverage in certain areas of bilateral interest. So now that the Obama administration has announced its decision to withhold som
Published 12 Jul, 2011 12:00am
Mobilink constructs homes for flood victims

Mobilink constructs homes for flood victims

Mobilink, Pakistan's market leader in cellular services and a part of Orascom Telecom Holding has marked the completion of the first phase of model homes in Rohailan Wali, Muzzaffargarh as part of its continued effort to provide relief and rehabilitation
Published 12 Jul, 2011 12:00am
Ufone donates Rs 5 million for expansion of Kidney Centre

Ufone donates Rs 5 million for expansion of Kidney Centre

Keeping a strong conviction to provide progressive health facilities for the under served in the society, Ufone, recently joined hands with The Kidney Center and has donated a sum of Rs 5 million to help in expansion of the state-of-the-art kidney related
Published 12 Jul, 2011 12:00am
PSMA criticises MoI for 'unrealistic' estimation of sugar price

PSMA criticises MoI for 'unrealistic' estimation of sugar price

The Pakistan Sugar Mills Association (PSMA) has strongly criticised the Ministry of Industries for estimating unrealistic sugar production cost, leading to the fixation of sugar procurement price at Rs 60 per kg, sources in the Ministry told Business R
Published 12 Jul, 2011 12:00am
Riyaz Chinoy appointed International Industries CEO

Riyaz Chinoy appointed International Industries CEO

The Board of Directors of International Industries Limited (IIL) would like to announce the appointment of Riyaz Chinoy as the new Chief Executive Officer. Riyaz Chinoy will take up his new responsibilities in August 2011 when the current MD Towfiq Chinoy
Published 12 Jul, 2011 12:00am
US military aid to Pakistan: the moderates condemns suspension

US military aid to Pakistan: the moderates condemns suspension

"In yet another move revealing the element of mistrust in Pak-US relationship, the United States has now suspended military aid worth US $800 million. This is very unfortunate given Pakistan military's continuous co-operation with the US in the War on Ter
Published 12 Jul, 2011 12:00am
ILO workshop: speakers underscore need for training relevant to market

ILO workshop: speakers underscore need for training relevant to market

The main flaw in the current Technical Vocational Education and Training system in Pakistan is dearth of market relevant training, as sustainable employment could not be achieved until workers are trained in line with market demands. These views were expr
Published 12 Jul, 2011 12:00am
PML-N forming grand alliance to weaken democracy: Badar

PML-N forming grand alliance to weaken democracy: Badar

General Secretary, Pakistan People's Party (PPP), Jahangir Badar has alleged that PML-N is forming 'grand alliance' to weaken democracy instead of strengthening the parliamentary system.
Published 12 Jul, 2011 12:00am
PIA employees celebrate 'pay increase'

PIA employees celebrate 'pay increase'

A large number of PIA employees gathered at the airline head office to celebrate a pay increase of 20 percent. PIA employees of Pay Groups I to IV gathered and reached the office of Managing Director PIA, Nadeem Khan Yousufzai where President Peoples Unit
Published 12 Jul, 2011 12:00am
National Savings branches in Abbottabad computerised

National Savings branches in Abbottabad computerised

National Savings, in a process of computerisation of its branches, throughout the country has stepped into Abbotabad region and computerised six branches in the hilly town. The move is next to already full computerisation of branches in Faisalabad and Pes
Published 12 Jul, 2011 12:00am
DCO summoned

DCO summoned

The Chief Justice Lahore High Court (LHC) has summoned District Co-ordination Officer (DCO) Lahore on Tuesday (today) for not providing fard-e-malkiat (mutation deed) to a petitioner despite the court orders. Petitioner Khalid Saeed submitted that the LHC
Published 12 Jul, 2011 12:00am
Capital police arrest nine suspects

Capital police arrest nine suspects

Islamabad police have arrested two ladies who tried to cheat women and nine more outlaws for their alleged involvement in bootlegging, possession of illegal arms and immoral activities. Shehzad Town Police arrested two women who entered a house at Margall
Published 12 Jul, 2011 12:00am
NUST student shines in international debating contest

NUST student shines in international debating contest

An international debating competition was held in Kuala Lampur under the title "Malaysia Debating Fest 2011" from June 29 to July 02. Teams from 40 nations took part in the debates with each team comprising four speakers. Hashim Mufti, from School of Elec
Published 12 Jul, 2011 12:00am
Eligibility for ATL: FBR yet to issue provisional list

Eligibility for ATL: FBR yet to issue provisional list

The Federal Board of Revenue has not decided yet to issue the provisional list of all compliant and non-compliant taxpayers on its website to meet the criteria set by the Board for becoming eligible for inclusion in "Active Taxpayer List" for carrying out
Published 12 Jul, 2011 12:00am
Free, fair elections to be ensured at PEC

Free, fair elections to be ensured at PEC

Pakistan Engineering Council (PEC) Monday informed the National Assembly standing committee on Science and Technology (S&T) about its election schedule and finalisation of the date of election. The committee, which met here on Monday under the chairmanshi
Published 12 Jul, 2011 12:00am
Minister briefed about USC 'Ramazan Package'

Minister briefed about USC 'Ramazan Package'

Chaudhry Pervaiz Elahi, Senior Federal Minister for Industries received a detailed briefing from the Ministry of Industries and Utility Stores Corporation of Pakistan regarding 'Ramazan Package'. Expressing his views, Elahi directed the officials of the M
Published 12 Jul, 2011 12:00am
FBR Board-in-Council meeting postponed

FBR Board-in-Council meeting postponed

The Federal Board of Revenue (FBR) has postponed the meeting of the Board-in-Council, which was to be held on Tuesday, due to heavy engagements of FBR Chairman Salman Siddiq. Sources told Business Recorder here on Monday that the FBR would soon ann
Published 12 Jul, 2011 12:00am
Livestock in DI Khan at risk

Livestock in DI Khan at risk

Livestock, which is the source of income in the district largest tehsil Kulachi, has been exposed to extreme risks, owing to the apathy of tehsil veterinary hospital where a junior cadre official has been entrusted to perform highly specialised task down
Published 12 Jul, 2011 12:00am
National Assembly body briefed on KSEW projects

National Assembly body briefed on KSEW projects

The National Assembly's Standing Committee on Defence Production on Monday was given a detailed presentation about Karachi Shipyard and Engineering Works (KSEW) activities, capability, performance and progress of projects in hand. The Committee under the
Published 12 Jul, 2011 12:00am
Falcon Abrasives approaches NTC for duty reduction

Falcon Abrasives approaches NTC for duty reduction

M/s Falcon Abrasives Private Limited (the applicant) manufacturer of Abrasives Cloth Sheet, Belts/Roll, Sand Paper, Fiber Disc and Buffering Paper has approached the National Tariff Commission (NTC) for reduction of customs duty and sales tax on import of
Published 12 Jul, 2011 12:00am
ANP hails steps towards peace in Karachi: delegation meets Zardari

ANP hails steps towards peace in Karachi: delegation meets Zardari

A delegation of Awami National Party (ANP) appreciated the steps taken by the government for restoration of peace in Karachi and making the local administration more responsive to emerging law and order situation in the province. A seven-member delegation
Published 12 Jul, 2011 12:00am
'Strong monsoon system advancing towards Pakistan'

'Strong monsoon system advancing towards Pakistan'

A strong monsoon system will penetrate into the monsoon belt of Pakistan after 15th July, causing moderate to isolated heavy rainfall/thundershower in Punjab, Kashmir, GB, and KPK, at a few places in north-east Balochistan and at one or two places in Sind
Published 12 Jul, 2011 12:00am
LHC seeks reply from home secretary by July 13

LHC seeks reply from home secretary by July 13

The Lahore High Court here Monday sought a reply from Home Secretary Punjab by July 13 after Inspector General of Police informed the court that giving jobs to heirs of cops, killed in GPO Chowk blast, was responsibility of Lahore CCPO. The court expresse
Published 12 Jul, 2011 12:00am
'Modern transplant centre to be set up in Lahore'

'Modern transplant centre to be set up in Lahore'

Punjab Chief Minister, Muhammad Shahbaz Sharif has said that state of the art transplant centre would be set up in the provincial metropolis and in this connection, constituted a steering committee, headed by him, to take measures for early completion of
Published 12 Jul, 2011 12:00am
Annual urs devotees: Railways directed to assemble additional trains

Annual urs devotees: Railways directed to assemble additional trains

Lahore High Court here Monday directed Pakistan Railways to assemble additional bogies in routine trains for facilitating zaireens (devotees) to join annual urs of Hazrat Lal Shahbaz Qalandar. Earlier, railways chief operating superintendent, through a wr
Published 12 Jul, 2011 12:00am
PIEDMC to set up two power plants

PIEDMC to set up two power plants

Punjab Industrial Estates has decided to set up two power plants having capacity of 50 MW each at Sundar and Bhalwal Industrial Estates in Lahore and Bhalwal districts during the current fiscal year. It was decided in a meeting of Board of Directors of Pu
Published 12 Jul, 2011 12:00am
NAVTEC to provide vocational training to 500,000 youth

NAVTEC to provide vocational training to 500,000 youth

Chairman National Vocational and Technical Education Commission (NAVTEC), Mumtaz Akhtar Kahloon has said they would provide vocational training to 500,000 unemployed youth as the Commission has managed funds from donors. He also announced that NAVTEC will
Published 12 Jul, 2011 12:00am
Teachers are architects of future generation: Gilani

Teachers are architects of future generation: Gilani

Prime Minister Syed Yousuf Raza Gilani on Monday said that teachers are the architects of future generation and have a great responsibility towards education as well as character building of students. Prime Minister was talking at his DHA residence here t
Published 12 Jul, 2011 12:00am
Traders, police clash over shifting of sabzi mandi

Traders, police clash over shifting of sabzi mandi

Angry fruit and vegetable traders clashed with the police here on Monday after refusing to shift their businesses from Kot Lakhpat's Sabzi Mandi to the outskirt of the city. The traders were advised by the local administration to move their trucks, loaded
Published 12 Jul, 2011 12:00am
Punjab badly hit by gas shortage

Punjab badly hit by gas shortage

Punjab is badly hit by gas shortage as gas supply to Sui Northern Gas Pipeline Ltd (SNGPL) has been reduced by 150 million cubic feet. Due to gas scarcity, CNG sector of the province is facing load shedding for three days instead of two and a half days as
Published 12 Jul, 2011 12:00am
Incarceration of Indian women: LHC CJ seeks reply from Centre

Incarceration of Indian women: LHC CJ seeks reply from Centre

Chief Justice Lahore High Court, Ijaz Ahmad Chaudhry here Monday sought reply from federal government by August 12 in the suo motu proceedings against the incarceration of two Indian women in Kot Lakhpat jail. Earlier, a law officer informed the court tha
Published 12 Jul, 2011 12:00am
President condemns suicide attack on Ameer Muqam

President condemns suicide attack on Ameer Muqam

President Asif Ali Zardari on Monday strongly condemned the suicide attack in Battagram, near the public gathering of PML-Q leader Ameer Muqam and expressed determination of the government to fight extremism and terrorism and reach a logical conclusion.
Published 12 Jul, 2011 12:00am
PCRET electrifies 1,560 houses by wind energy

PCRET electrifies 1,560 houses by wind energy

Pakistan Council for Renewable Energy Technologies (PCRET) on Monday completed electrification of 1,560 houses and 9 coastal guard check posts by wind energy in Sindh and Balochistan. Wind energy is now a valid and practical option for many countries and
Published 12 Jul, 2011 12:00am
Sindh, Punjab surpass cotton sowing targets

Sindh, Punjab surpass cotton sowing targets

Owing to the best crop management practices and increasing price trend of international cotton market, the two main cotton producing provinces, Punjab and Sindh, have surpassed the crop sowing targets by 1.86 and 1.21 percent respectively during the curre
Published 12 Jul, 2011 12:00am
Nokia, MCB sign accord

Nokia, MCB sign accord

Nokia, a global leader in the mobile telecommunication industry, and MCB Bank Limited on Monday signed an agreement for the development and extension of financial services to millions of mobile phone users. Teppo Paavola, Nokia Vice President and General
Published 12 Jul, 2011 12:00am
LHC seeks reply from government by July 13

LHC seeks reply from government by July 13

Lahore High Court here Monday sought reply from the federal government by July 13 in an application praying to sentence General Pervez Musharraf (retired) under high treason act 1973. The petitioner, Rana Ilamuddin Ghazi, contended that a Supreme Court be
Published 12 Jul, 2011 12:00am
Punjab-based parties watching Sindh situation with caution

Punjab-based parties watching Sindh situation with caution

The Punjab based political parties are watching the evolving Karachi situation with caution and apprehension as both the PPP-ANP alliance and MQM have now seemingly drawn and strengthened their battle lines of war of attrition for political and administra
Published 12 Jul, 2011 12:00am
Meezan Bank named Best Islamic Financial Institution in Pakistan

Meezan Bank named Best Islamic Financial Institution in Pakistan

Meezan Bank, Pakistan's first and largest Islamic bank, has been awarded the Best Islamic Financial Institution in Pakistan by Global Finance magazine at its Annual Awards for the World's Best Islamic Financial Institutions 2011. The winners were judged o
Published 12 Jul, 2011 12:00am
WAPDA generated over 31.45 billion units of electricity during 2010-11

WAPDA generated over 31.45 billion units of electricity during 2010-11

The Pakistan Water and Power Development Authority (WAPDA) generated 31.45 billion units of hydro-power electricity during the fiscal year 2010-11, registering an increase of 3.84 billion units as compared to 2009-10. This increased hydro-power generation
Published 12 Jul, 2011 12:00am
Pesco revises load management schedule

Pesco revises load management schedule

The Peshawar Electricity Supply Company (PESCO) has revised load management/load shedding schedule in the Khyber-Pukhtunkhwa. As per new reduced Quota of 800MW PESCO is carrying out 7 to 8 hours load shedding in urban areas and 8 to 9 hours load shedding
Published 12 Jul, 2011 12:00am
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