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Print - 2011-08-13
'Power disruption hits water supply'

'Power disruption hits water supply'

Supply of water to different areas in the city has been halted for the last two days due to disconnection of electricity supply to Gharo Pumping Station of the Karachi Water and Sewerage Board (KW&SB), said a statement issued by Water Board here on Friday
Published 13 Aug, 2011 12:00am
London rioters: Cameron backs eviction

London rioters: Cameron backs eviction

British Prime Minister David Cameron backed a call Friday to withdraw welfare benefits from rioters, as a London council became the first to begin evicting a tenant whose son faced unrest charges. Cameron said that people who "loot and pillage their own c
Published 13 Aug, 2011 12:00am
US defends aid as Egypt probes NGO foreign funding

US defends aid as Egypt probes NGO foreign funding

The US embassy in Cairo issued a strongly-worded defence of its aid to Egypt as prosecutors probed foreign funding of civil society groups amid signs of tensions between Washington and Egypt's ruling generals. The State Security prosecution, which used to
Published 13 Aug, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (August 12, 2011).

Published 13 Aug, 2011 12:00am
US defends aid as Egypt probes NGO foreign funding

US defends aid as Egypt probes NGO foreign funding

The US embassy in Cairo issued a strongly-worded defence of its aid to Egypt as prosecutors probed foreign funding of civil society groups amid signs of tensions between Washington and Egypt's ruling generals. The State Security prosecution, which used to
Published 13 Aug, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (August 12, 2011).

Published 13 Aug, 2011 12:00am
US appeals court rules against Obama healthcare law

US appeals court rules against Obama healthcare law

A US appeals court ruled on Friday that President Barack Obama's healthcare law requiring Americans to buy healthcare insurance or face a penalty was unconstitutional, a blow to the White House. The US Appeals Court for the 11th Circuit, based in Atlanta,
Published 13 Aug, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Friday (August 12, 2011).

Published 13 Aug, 2011 12:00am
Former Nasdaq official gets jail for insider trading

Former Nasdaq official gets jail for insider trading

A former Nasdaq managing director was sentenced Friday to 42 months in prison for insider trading, the Justice Department said. Donald Johnson pleaded guilty in May to one count of securities fraud, admitting he used inside information obtained through hi
Published 13 Aug, 2011 12:00am
Former Nasdaq official gets jail for insider trading

Former Nasdaq official gets jail for insider trading

A former Nasdaq managing director was sentenced Friday to 42 months in prison for insider trading, the Justice Department said. Donald Johnson pleaded guilty in May to one count of securities fraud, admitting he used inside information obtained through hi
Published 13 Aug, 2011 12:00am
Former Nasdaq official gets jail for insider trading

Former Nasdaq official gets jail for insider trading

A former Nasdaq managing director was sentenced Friday to 42 months in prison for insider trading, the Justice Department said. Donald Johnson pleaded guilty in May to one count of securities fraud, admitting he used inside information obtained through hi
Published 13 Aug, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Friday (August 12, 2011) and for Saturday (August 13, 2011).
Published 13 Aug, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (August 12, 2011).

Published 13 Aug, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on August 09, 2011.

Published 13 Aug, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on August 09, 2011.

Published 13 Aug, 2011 12:00am
Kayani inaugurates mineral development project in Zhob

Kayani inaugurates mineral development project in Zhob

Chief of Army Staff, General Ashfaq Parvez Kayani inaugurated Musakhel Minerals Development Project in Zhob district of Balochistan province on Friday. Addressing on the occasion, he said that peace and unity were the key elements to take benefits of natu
Published 13 Aug, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on August 09, 2011.

Published 13 Aug, 2011 12:00am
Kayani inaugurates mineral development project in Zhob

Kayani inaugurates mineral development project in Zhob

Chief of Army Staff, General Ashfaq Parvez Kayani inaugurated Musakhel Minerals Development Project in Zhob district of Balochistan province on Friday. Addressing on the occasion, he said that peace and unity were the key elements to take benefits of natu
Published 13 Aug, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 13 Aug, 2011 12:00am
Kayani inaugurates mineral development project in Zhob

Kayani inaugurates mineral development project in Zhob

Chief of Army Staff, General Ashfaq Parvez Kayani inaugurated Musakhel Minerals Development Project in Zhob district of Balochistan province on Friday. Addressing on the occasion, he said that peace and unity were the key elements to take benefits of natu
Published 13 Aug, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 13 Aug, 2011 12:00am
Global investors pull back from risk: EPFR

Global investors pull back from risk: EPFR

Fund investors pulled out of both stocks and bonds and plowed cash into money markets and precious metals in the week ended August 10 as concerns about the global economy grew, data from EPFR Global showed on Friday. Money market funds pulled in a net $49
Published 13 Aug, 2011 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Friday (August 12, 2011).

Published 13 Aug, 2011 12:00am
Bad governance spoils image of democratic setup: Nawaz

Bad governance spoils image of democratic setup: Nawaz

Pakistan Muslim League-Nawaz (PML-N) President on Friday criticised the Pakistan Peoples Party (PPP) government and said that bad governance of present regime has spoiled the image of democratic set up.
Published 13 Aug, 2011 12:00am
The Weather

The Weather

The weather report on Friday (August 12, 2011) and the forecast for Saturday (August 13, 2011).

Published 13 Aug, 2011 12:00am
Non-coherent strategy: PML-N leader criticises PPP government

Non-coherent strategy: PML-N leader criticises PPP government

Pakistan Muslim League-Nawaz Deputy Secretary General, Ahsan Iqbal on Friday criticised the PPP government and said the U-turns of PPP government in Sindh clearly demonstrates that it lacks a coherent strategy to deal with nation's most pressing problems.
Published 13 Aug, 2011 12:00am
Uplift projects worth billions of rupees approved

Uplift projects worth billions of rupees approved

At a high level meeting presided over by Punjab Chief Minister, Muhammad Shahbaz Sharif, approval was given to development projects worth billions of rupees under Large City and District Packages and Southern Punjab Development Programme (SPDP) including
Published 13 Aug, 2011 12:00am
'Petroleum policy 2011' draft to be put up in next ECC meeting

'Petroleum policy 2011' draft to be put up in next ECC meeting

The Ministry of Petroleum and Natural Resources has prepared 'petroleum policy 2011' to cope with persisting energy crisis, according to which, gas production price would increase by $5.7 per million British thermal unit (MMBTU). Sources at the Ministry o
Published 13 Aug, 2011 12:00am
Security on high alert for Independence Day

Security on high alert for Independence Day

Security has been put on high alert in the federal capital for the upcoming Independence Day celebrations. Special deployment of Islamabad Police and other law enforcement agencies will be made at all important installations, buildings and markets to aver
Published 13 Aug, 2011 12:00am
1,542 taxpayers enroll themselves at SRB

1,542 taxpayers enroll themselves at SRB

1,542 companies and individuals related to various services have enrolled themselves at Sindh Revenue Board (SRB) while 15th August is last date of enrolment, official sources told Business Recorder on Friday. SRB has started its work from 1st July
Published 13 Aug, 2011 12:00am
CDGK privatises issuance of license to poultry, meat shops

CDGK privatises issuance of license to poultry, meat shops

The issuance of veterinary licenses is the most crucial part of veterinary control on meat and poultry sales outlets but the City District Government Karachi (CDGK) Veterinary Department (VD) has outsourced the license issuing authority to a private contr
Published 13 Aug, 2011 12:00am
Ufone unveils exclusive web portal

Ufone unveils exclusive web portal

Ufone recently unveiled an exclusive web portal, www.pakistantumhetoho.com.pk which advocates the positive side of the nation and in time will act as a pre-emptive effort to counter the global negative tag associated with the country. The web portal was l
Published 13 Aug, 2011 12:00am
Moot for reviving Pak-US relations, defence cooperation

Moot for reviving Pak-US relations, defence cooperation

Representatives of various political and religious parties, former bureaucrats and retired military officers have stressed the need to review Pak-US relations and defence cooperation and called for devising a foreign policy, which should be based on natio
Published 13 Aug, 2011 12:00am
Hamdard celebrates Yaum-e-Babul Islam

Hamdard celebrates Yaum-e-Babul Islam

A function, organised by Hamdard College of Science and Commerce, to celebrate 10th Ramazan-Yaum-E-Babul Islam-according to the tradition of Hakim Mohammed Said, was held on Thursday August 11, 2011, presided over by Mrs Sadia Rashid, President, Hamdard F
Published 13 Aug, 2011 12:00am
Correction

Correction

Apropos a news item 'Taxmen to collect SED on value of sugar fixed by FBR' carried by Business Recorder on 05.08.2011, the Federal Board of Revenue (FBR) has said that the news item has tried to twist the facts and put up a different interpretation
Published 13 Aug, 2011 12:00am
Dengue patients: 'public hospitals providing diagnostic facilities'

Dengue patients: 'public hospitals providing diagnostic facilities'

All diagnostic and treatment facilities for dengue fever are available in government hospitals free of cost and the patients are not facing any difficulty, a spokesman of health department said. According to him, platelet kits in sufficient quantity are a
Published 13 Aug, 2011 12:00am
Unilever Foods profit after tax increases to Rs 364.523 million

Unilever Foods profit after tax increases to Rs 364.523 million

The profit after tax of Unilever Pakistan Foods Limited has increased to Rs 364.523 million in the half year period ended June 30, 2011 as compared to Rs 219.783 million earned in the corresponding period in 2010. The company's earning per share increased
Published 13 Aug, 2011 12:00am
Unilever Foods profit after tax increases to Rs 364.523 million

Unilever Foods profit after tax increases to Rs 364.523 million

The profit after tax of Unilever Pakistan Foods Limited has increased to Rs 364.523 million in the half year period ended June 30, 2011 as compared to Rs 219.783 million earned in the corresponding period in 2010. The company's earning per share increased
Published 13 Aug, 2011 12:00am
Europe short-selling ban reveals divisions

Europe short-selling ban reveals divisions

A piecemeal ban on short-selling of financial stocks in Europe sparked a rush of alternative proposals from countries and regulators on Friday and investors said the row undermined a rally in bank shares. After a week of wild swings on European markets am
Published 13 Aug, 2011 12:00am
Europe short-selling ban reveals divisions

Europe short-selling ban reveals divisions

A piecemeal ban on short-selling of financial stocks in Europe sparked a rush of alternative proposals from countries and regulators on Friday and investors said the row undermined a rally in bank shares. After a week of wild swings on European markets am
Published 13 Aug, 2011 12:00am
India's industrial output growth jumps

India's industrial output growth jumps

India's industrial output expanded above forecasts in June helped by strong capital goods production, confirming resilience in Asia's third-largest economy and supporting the case for the central bank to persist with its battle against high inflation.
Published 13 Aug, 2011 12:00am
French, South Korea firms in Malaysia biotech tie-up

French, South Korea firms in Malaysia biotech tie-up

French chemical producer ARKEMA and South Korea's CJ CheilJedang will invest 2 billion ringgit ($667 million) to develop an animal feed plant in Malaysia, Prime Minister Najib Razak announced Friday. The ten-year investment in northeastern Terengganu stat
Published 13 Aug, 2011 12:00am
China's bank lending hits seven-month low

China's bank lending hits seven-month low

China's bank lending slowed more than expected in July to seven-month lows as Beijing kept a tight grip on monetary policy to quell near three-year-high inflation. Money supply growth sank to six-year lows, but analysts predicted that tight monetary condi
Published 13 Aug, 2011 12:00am
Ghana, China in gas development deal

Ghana, China in gas development deal

Ghana will borrow $800 million from China to build natural gas infrastructure, the head of the national gas company said Friday, months after the country became Africa's newest major oil producer. "An agreement has been reached and we have secured $800 mi
Published 13 Aug, 2011 12:00am
Indonesia suspends bank purchases

Indonesia suspends bank purchases

Indonesia on Friday suspended the issuance of permits to purchase banks as it mulls new ownership laws that would limit how much single investors can buy in local commercial lenders. "Hopefully the regulation can be issued later this year," central Bank I
Published 13 Aug, 2011 12:00am
Federal Reserve officials clash on state of economy

Federal Reserve officials clash on state of economy

Underscoring divisions at the US central bank, one top policymaker on Friday said he had cut his forecast for economic growth, even as another said he saw no economic need for new monetary stimulus. On Tuesday, the Federal Reserve reinforced its commitmen
Published 13 Aug, 2011 12:00am
Brazil adopts 'prime' rate to improve loan market

Brazil adopts 'prime' rate to improve loan market

Brazil's central bank will start publishing in September a new "prime" interest rate to be granted to low-risk clients, the bank's chief, Alexandre Tombini, said on Friday. The aim is to increase market transparency and help companies better negotiate wit
Published 13 Aug, 2011 12:00am
Russia, Ukraine 'heading for new gas conflict'

Russia, Ukraine 'heading for new gas conflict'

Russia warned neighbour Ukraine on Friday against acting unreasonably amid reports that the two sides were approaching a gas war similar to a 2009 standoff that briefly cut supplies to EU states. Russian President Dmitry Medvedev and Ukraine's Viktor Yanu
Published 13 Aug, 2011 12:00am
Asean insulated against economic shocks

Asean insulated against economic shocks

Indonesia said Friday that Southeast Asia is insulated against economic shocks from the United States and Europe thanks to expanding internal trade and the growth of regional giant China. Trade Minister Mari Pangestu told reporters on the sidelines of a m
Published 13 Aug, 2011 12:00am
Central America readies shared electricity grid

Central America readies shared electricity grid

Central America is getting ready to switch on a unified power grid that will reduce expensive oil imports and vault the developing region ahead of Europe in terms of electricity integration. The long-planned network of electrical towers, sub-stations and
Published 13 Aug, 2011 12:00am
Hoti approves land leasing for REDD project

Hoti approves land leasing for REDD project

Chief Minister Khyber Pakhtunkhwa, Ameer Haider Khan Hoti has approved the leasing out of land for the project for reducing emissions from deforestation and degradation of forests (REDD) in Khyber Pakhtunkhwa. A Memorandum of Understanding (MoU) to this e
Published 13 Aug, 2011 12:00am
90 Umrah pilgrims deprived of Rs 11.5 million, passports

90 Umrah pilgrims deprived of Rs 11.5 million, passports

A tour operator of Bahawalpur Muhammad Zafar Zeeshan sneaked away to Saudi Arabia with passports and cash of rupees 11.5 million of 90 Umrah pilgrims. The affectees have appealed Prime Minister to take notice of this fraud and order the FIA to arrest the
Published 13 Aug, 2011 12:00am
Tax issues of ginning sector: FBR decides to move 'note' to MoF

Tax issues of ginning sector: FBR decides to move 'note' to MoF

Following the directive of Prime Minister Syed Yusuf Raza Gillani, the Federal Board of Revenue (FBR) has decided to move a 'note' to the Ministry of Finance seeking permission to take major steps to resolve tax related issues of ginning industry.
Published 13 Aug, 2011 12:00am
PIA plane makes emergency landing

PIA plane makes emergency landing

A plane of Pakistan International Airlines PK 368, coming from Multan made emergency landing at Islamabad airport on Friday, after losing its balance due to bad weather. The plane landed at 9:30am. The passengers got minor injuries due to plane imbalance.
Published 13 Aug, 2011 12:00am
'US to expand Fulbright scholarship programme'

'US to expand Fulbright scholarship programme'

The United States' Fulbright Scholarship programme for Pakistan is the largest in the world and it will be doubled next year to accommodate more Pakistani students to pursue Master's and Ph.Ds degrees in US universities. This was stated by the US Consul G
Published 13 Aug, 2011 12:00am
FBR workers observe partial strike

FBR workers observe partial strike

Federal Board of Revenue (FBR) staff on Friday observed a partial strike from 11am to 12pm at all offices across the country. According to the Federal Revenue Alliance Employees Union, workers in the Regional Tax Office held a protest demonstration agains
Published 13 Aug, 2011 12:00am
10,831 new cases of Tuberculosis reported at government hospitals

10,831 new cases of Tuberculosis reported at government hospitals

As many as 10,831 new cases of tuberculosis were reported at state-run healthcare facilities in 35 districts across the country during February 2011 of which 86 percent cases were counted in Punjab, which is a matter of concern for the government.
Published 13 Aug, 2011 12:00am
Sindh chief minister reviews law, order situation

Sindh chief minister reviews law, order situation

Chief Minister Sindh, Syed Qaim Ali Shah on Friday held a meeting at CM House to review the law and order situation in the province, particularly Karachi. He said that it is the responsibility of law enforcing agencies to be fully devoted to maintain peac
Published 13 Aug, 2011 12:00am
Karachi to be deweaponised in phases: Malik

Karachi to be deweaponised in phases: Malik

Interior Minister Rehman Malik on Friday said the government has decided to deweaponize the country especially purging Karachi of illegal weapons in different phases. "The government has taken this decision on the demands of all political parties includin
Published 13 Aug, 2011 12:00am
Sindh distributes 630,000 Watan Cards among flood victims

Sindh distributes 630,000 Watan Cards among flood victims

Sindh government through its Rehabilitation Department has so far issued 630,000 Watan Cards during the first phase of relief services for the flood victims. The Secretary for Rehabilitation, Peer Baksh Jamali, on Friday, informed a meeting, chaired by Si
Published 13 Aug, 2011 12:00am
Hina meets Turkish President, Prime Minister

Hina meets Turkish President, Prime Minister

Foreign Minister Hina Rabbani Khar, currently on a visit to Turkey on the invitation of her Turkish counterpart Professor Dr Ahmet Davutoglu, met separately with President Abdullah Gul and Prime Minister Recep Tayyip Erdogan here Friday.
Published 13 Aug, 2011 12:00am
Parliamentary body can review any law pertaining to national security

Parliamentary body can review any law pertaining to national security

The Parliamentary Committee on National Security has unanimously decided that the panel can review any law pertaining to national security of Pakistan. The committee, which met here with Senator Raza Rabbani in the chair, has also said that Anti-Terrorism
Published 13 Aug, 2011 12:00am
Flood, rain relief control room set up

Flood, rain relief control room set up

District Co-ordination Officer Hyderabad, Ahmed Bux Narejo has established in his office order that District Flood/Rain Relief Control Room in his camp office will work round the clock with telephone nos. 022-9200115 and 022-9200116 under the supervision
Published 13 Aug, 2011 12:00am
Fata reforms significant developments: Prime Minister

Fata reforms significant developments: Prime Minister

Prime Minister Syed Yousuf Raza Gilani has said that the amendments to the Frontier Crimes Regulation (FCR) and the extension of Political Parties Order 2002 to FATA are significant developments, which will have positive impact upon social and political s
Published 13 Aug, 2011 12:00am
Four lion cubs' death in Zoo: Karachi Administrator takes notice

Four lion cubs' death in Zoo: Karachi Administrator takes notice

Taking strict notice of the expiry of four lion cubs of African origin in Karachi Zoo, Administrator Karachi Fazlur Rehman has appointed EDO Revenue Ghanor Leghari as Inquiry Officer to conduct full inquiry into the incident and submit his report within 1
Published 13 Aug, 2011 12:00am
Gunmen free two Taliban captives in Peshawar

Gunmen free two Taliban captives in Peshawar

Police say Taliban militants have ambushed a police van taking two of their comrades back to jail after a trip to the dentist, freeing the captives. Officer Iftikhar Khan says three police guards were killed in Friday's incident in the north-western city
Published 13 Aug, 2011 12:00am
Rs 3.9 billion provided to acquire land for Diamer Basha Dam

Rs 3.9 billion provided to acquire land for Diamer Basha Dam

The federal government has provided Rs 3.9 billion to Gilgit-Baltistan and Khyber Pakhtunkhwa authorities to acquire land for construction of country's most vital project- Diamer Basha dam. The process of acquisition of land is continuing and after its co
Published 13 Aug, 2011 12:00am
Punjab chief minister grieved over Pakistanis' deaths in UK

Punjab chief minister grieved over Pakistanis' deaths in UK

Punjab Chief Minister, Muhammad Shahbaz Sharif here on Friday expressed deep sense of sorrow and grief over the loss of precious lives of three Pakistanis in UK and termed it tragic and condemnable. The chief minister demanded of the British government to
Published 13 Aug, 2011 12:00am
Isolated heavy rain, thundershower expected in country

Isolated heavy rain, thundershower expected in country

The met office on Friday forecast widespread rain and thundershower with isolated heavy fall in most part of the country for the next 24 hours. The fresh forecast says widespread rain and thundershower with isolated heavy falls expected in Islamabad, Punj
Published 13 Aug, 2011 12:00am
Pagara favours commissionerate system

Pagara favours commissionerate system

PML-(F) Chief Pir Pagara has said that calling for strikes was not solution of the problems. "Strikes have negative effects on our economy and the country," he said while talking to ANP Sindh President Shahi Syed at Kingri House here on Friday. He said th
Published 13 Aug, 2011 12:00am
Transfers, postings in FBR

Transfers, postings in FBR

The Federal Board of Revenue (FBR) has transferred and posted two officials of Inland Revenue Service (BS-19/20) with immediate effect.
Published 13 Aug, 2011 12:00am
Managing committee of KCCI to retire on September 30

Managing committee of KCCI to retire on September 30

Fifteen members of managing committee of Karachi Chamber of Commerce and Industry (KCCI) will stand retire on September 30, 2011 Election to fill these vacant seats will be held on September 27, 2011.
Published 13 Aug, 2011 12:00am
US MIDDAY: copper rises

US MIDDAY: copper rises

Copper in New York crept up early on Friday with equities to end less than a penny higher from the previous session. In New York, the key September COMEX contract eked out a 0.35-cent gain to settle at $4.0120 per lb, supported by a firmer tone in equity
Published 13 Aug, 2011 12:00am
Tokyo rubber down, Shanghai up

Tokyo rubber down, Shanghai up

Key Tokyo rubber futures erased earlier gains to settle slightly lower on Friday, as a slide in oil prices and sluggish stocks reflected concerns about the global economic outlook and raised questions about demand for raw materials. The benchmark rubber c
Published 13 Aug, 2011 12:00am
Malaysian palm oil soars

Malaysian palm oil soars

Malaysian palm oil rose for a third day on Friday and recovered most of this week's losses on stronger food commodity prices and as a US government forecast of lower soy output pointed to tighter edible oil supply in coming months.
Published 13 Aug, 2011 12:00am
New York cocoa, sugar and coffee up

New York cocoa, sugar and coffee up

US cocoa futures changed direction and finished higher on Thursday, lifted by the strong sterling after falling to a seven-month low in heavy dealings dominated by September/December spreading and substantial nearby supplies. Raw sugar and arabica coffee
Published 13 Aug, 2011 12:00am
Liffe sugar falls

Liffe sugar falls

Soft commodity markets turned in a muted performance on Friday as players took to the sidelines at the end of a week that saw a sharp selling spree sparked by a downgrade of the United States' credit rating. Sugar, coffee and cocoa paid little heed to the
Published 13 Aug, 2011 12:00am
US gold slides

US gold slides

Gold recoiled after tapping a new record on Thursday, tumbling more than 2 percent as an equities rebound and higher trading margins fanned profit-taking from the biggest rally since 2008. Prices fell by as much as $82 from a new overnight record of $1,81
Published 13 Aug, 2011 12:00am
Spot pares losses in Asia

Spot pares losses in Asia

Spot gold pared early losses on Friday, putting it on track for its best week since February 2009 as worries about the eurozone debt crisis and global growth drive investors to safe havens. Spot gold fell as much as 3.5 percent on Thursday, as stock and c
Published 13 Aug, 2011 12:00am
Gold extends dip in European trade

Gold extends dip in European trade

Gold prices fell on Friday, extending the previous session's retreat from record highs as fresh strength in equity markets and gains in the euro versus the safe-haven Swiss franc pointed to sharper appetite for risk. Spot gold was down 1.7 percent at $1,7
Published 13 Aug, 2011 12:00am
US MIDDAY: sugar down

US MIDDAY: sugar down

ICE front-month raw sugar futures fell early on Friday after news that India, the number 2 producer after Brazil, had decided to allow another 500,000 tonnes of unrestricted sugar exports. October raw sugar futures on ICE were down 0.24 cent or 0.85 perce
Published 13 Aug, 2011 12:00am
US MIDDAY: grains up

US MIDDAY: grains up

US soyabeans rose for the second straight session early on Friday, and were poised for the largest two-day rally since May, due to worries over the size of the crop, a day after the government made a surprisingly large cut in its production forecast. Whea
Published 13 Aug, 2011 12:00am
Mounting political pressure confuses traders: strike call for today

Mounting political pressure confuses traders: strike call for today

The recession-hit traders are perplexed that how to respond to the mounting pressure from various political parties on the strike, which Sindh's nationalists called against the re-promulgation of SLGO 2001, whether to open businesses or keep them shut on
Published 13 Aug, 2011 12:00am
Sindh government forgets to observe International Youth Day

Sindh government forgets to observe International Youth Day

The Sindh government has ignored more than 60 percent population of the province consisting of youth community with disremembering the International Youth Day, supposed to be celebrate on August 12, 2011, Business Recorder learnt on Friday.
Published 13 Aug, 2011 12:00am
Three cops killed in police van ambush

Three cops killed in police van ambush

Three policemen were killed when unidentified gunmen opened indiscriminate firing at police van carrying prisoners for medical check-up on University Road Friday, police said. Two prisoners who were in custody of police also escaped during firing, police
Published 13 Aug, 2011 12:00am
Gold prices fall

Gold prices fall

Gold prices on Friday fell by Rs 200 per tola to Rs 57, 600 from the last all-time high of Rs 57, 800 on the local market, trader said. The price of gold per 10 grams reached Rs 49, 371 down from record high of Rs 49, 542, showing a decrease of Rs 171. On
Published 13 Aug, 2011 12:00am
Prime Minister takes notice of Balochistan's polio drive failure

Prime Minister takes notice of Balochistan's polio drive failure

Prime Minister Syed Yousuf Raza Gilani has taken notice of the very poor results of anti-polio drive in Balochistan and the Balochistan government has been asked in writing to ensure meeting targets of National Emergency Plan in this regard.
Published 13 Aug, 2011 12:00am
No action taken yet on imported trucks penetration in market

No action taken yet on imported trucks penetration in market

A noticeable number of used trucks and commercial vehicles are entering the local markets under various schemes like those of gift and transfer of baggage due to relaxation in the import policy, an official of PAMA said. Under 'Special Purpose Vehicle PCT
Published 13 Aug, 2011 12:00am
US MIDDAY: gold falls two percent

US MIDDAY: gold falls two percent

Gold dropped 2 percent on Friday, extending the previous session's drop from record highs as a rise in appetite for market risk prompted profit-taking from bullion's sharp safe-haven rally this week. Bullion fell as stock markets in Europe rallied after a
Published 13 Aug, 2011 12:00am
SEDF to stabilise rural economy: Motiwala

SEDF to stabilise rural economy: Motiwala

Establishment of Sindh Enterprises Development Fund (SEDF) by the Sindh government is a bold step of the provincial government as it would bring stability to the rural economy, said Chairman Sindh Investment Board (SIB), Zubair Motiwala on Friday.
Published 13 Aug, 2011 12:00am
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