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Print - 2012-03-15
Pakistan, Sweden agree to double trade volume by 2014

Pakistan, Sweden agree to double trade volume by 2014

Pakistan and Sweden have agreed to double their trade volume to 900 million dollars from present level of 450 million dollars by 2014. The understanding came at a meeting between Foreign Minister Hina Rabbani Khar and her Swedish counterpart Carl Bildt in
Published 15 Mar, 2012 12:00am
Thai envoy visits Peshawar museum

Thai envoy visits Peshawar museum

The Ambassador of the Royal Thai Embassy in Islamabad, Marwin T. Attanawin, accompanied by the Consul of the Embassy Ms Chotika Suwanwattana visited Peshawar Museum here on Wednesday. They were received by the Curator of the Museum Nidaullah Sehrai who br
Published 15 Mar, 2012 12:00am
Polani, Baig to receive awards on March 23

Polani, Baig to receive awards on March 23

Two prominent businessmen of Karachi; Muhammad Yahya Polani and Mirza Ishtiaq Baig, will receive Sitara-e-Imtiaz and Tamgha-e-Imtiaz, respectively on March 23. The presidential awards are conferred on business community for their social contribution and s
Published 15 Mar, 2012 12:00am
FTO refunded Rs eight billion to taxpayers in 2011

FTO refunded Rs eight billion to taxpayers in 2011

Federal Tax Ombudsman, Dr Mohammad Shoaib Suddle has said that the FTO has refunded an amount of eight billion rupees to taxpayers during last year against the 7 billion rupees in 2010. More than 195,000 cases had been cleared in 2011 and the cases ratio
Published 15 Mar, 2012 12:00am
There's no operation in Balochistan: Moin

There's no operation in Balochistan: Moin

Former Sindh Governor Lieutenant General Moinuddin Haider (Retd) on Wednesday claimed that there is no military operation in Balochistan and Frontier Constabulary was called for the assistance of police on the request of provincial government.
Published 15 Mar, 2012 12:00am
Commander five Corps pays farewell visit to DHA office

Commander five Corps pays farewell visit to DHA office

Commander 5 Corps Lieutenant General Muhammad Zahir-ul-Islam, who is also the President Executive Board (PEB) DHA, visited DHA's Main Office on a farewell visit on Wednesday. The Corps Commander is going as DG ISI and will soon assume the responsibilities
Published 15 Mar, 2012 12:00am
KSE decides to delist 21 companies from March 26

KSE decides to delist 21 companies from March 26

The Karachi Stock Exchange (KSE) has decided to delist 21 companies from the Exchange with effect from March 26, 2012. According to a KSE notice, these companies were under process of liquidation or liquidators have been appointed. The trading in the shar
Published 15 Mar, 2012 12:00am
Pakistan among hardest global-warming regions: UNDP official

Pakistan among hardest global-warming regions: UNDP official

Deputy Country Director UNDP, Jean Luc Stalon on Wednesday said that Pakistan is among the hardest global warming region in the world, where drastically climatic changing issues are faced and stressed the need for strengthening of early forecasting system
Published 15 Mar, 2012 12:00am
Role of financial institutions Highlighted

Role of financial institutions Highlighted

Financial institutions in Pakistan are working with target oriented approach of getting more clients rather than facilitating consumers and satisfying them with better services, said a press release issued by TheNetwork for Consumer Protection here on Wed
Published 15 Mar, 2012 12:00am
Pakistan among six top remittance-receiving states

Pakistan among six top remittance-receiving states

Pakistan has been placed among six top remittance-receiving states of the world in the year 2011 while the South Asian region is expected to receive $97 billion in the current calendar year, 2012.
Published 15 Mar, 2012 12:00am
Arshad Ali appointed CEO of DRA for three months

Arshad Ali appointed CEO of DRA for three months

The government has appointed Syed Arshad Ali, Joint Secretary of the Cabinet as the Chief Executive Officer (CEO) of the Drug Regulatory Authority (DRA) for a temporary period of three months in order to regulate the registration and manufacturing of drug
Published 15 Mar, 2012 12:00am
SAP ERP solutions go live at AIL

SAP ERP solutions go live at AIL

SAP ERP solutions customised for Agriauto Industries Limited (AIL) have now been successfully implemented for AIL business operations. The company is all set to run better as it takes advantage of SAP modules tailored to facilitate business integration.
Published 15 Mar, 2012 12:00am
CAMP organises Fata & Khyber Pakhtunkhwa Youth Cultural Festival

CAMP organises Fata & Khyber Pakhtunkhwa Youth Cultural Festival

Community Appraisal and Motivation Programme (CAMP) organised the Fata & Khyber Pakhtunkhwa Youth Cultural Festival in Islamabad on Wednesday. The festival hosts exhibits put up by youth and residents from Fata and Khyber Pakhtunkhwa.
Published 15 Mar, 2012 12:00am
Malik, Chandio meet Prime Minister

Malik, Chandio meet Prime Minister

Interior Minister Rehman Malik and Law Minister Maula Bux Chandio called on Prime Minister Syed Yousuf Raza Gilani and discussed law and order situation and parliamentary affairs. In a meeting held at the Prime Minister House, the Interior Minister appris
Published 15 Mar, 2012 12:00am
ECP secretary explains his position

ECP secretary explains his position

Secretary Election Commission on Wednesday told Supreme Court that he did not mean to malign the court but he had expressed his point of view in an eight-page letter that he addressed to the premier recently. A three-member bench comprising Chief Justice
Published 15 Mar, 2012 12:00am
FBR identifies factors responsible for high tax gap

FBR identifies factors responsible for high tax gap

The Federal Board of Revenue (FBR) has identified factors like exemptions and narrow tax base as major reasons for high tax gap in Pakistan. It is learnt here on Friday that the tax gap analysis revealed that there are a several factors contributing to th
Published 15 Mar, 2012 12:00am
Demonetised banknotes: SBP's advice to banks

Demonetised banknotes: SBP's advice to banks

The State Bank of Pakistan (SBP) has once again advised all commercial banks/micro finance banks (MFBs) to desist from issuing the demonetised banknotes of Rs 5 and Rs 500 (old design & bigger size) to their customers/general public.
Published 15 Mar, 2012 12:00am
Cut in corporate income tax rate to 30 percent proposed

Cut in corporate income tax rate to 30 percent proposed

The tax gap analysis of the Federal Board of Revenue (FBR) has proposed reduction in the corporate income tax rate from 35 percent to 30 percent, which would improve overall compliance of the corporate sector. Sources told Business Recorder here on
Published 15 Mar, 2012 12:00am
LG Electronics boosting its brand shops' network: D.Y. Kim

LG Electronics boosting its brand shops' network: D.Y. Kim

President, LG Electronics, Gulf FZE, D. Y. Kim says that the LG Electronics, in line with its strategy, is boosting its brand shops' network and providing consumers with a complete hands-on experience, besides a right choice of products with a view to enh
Published 15 Mar, 2012 12:00am
The Weather

The Weather

The weather report on Wednesday (March 14, 2012) and the forecast for Thursday (March 15, 2012).

Published 15 Mar, 2012 12:00am
Bomb kills six anti-Taliban fighters

Bomb kills six anti-Taliban fighters

An official said a bomb has killed six members of an anti-Taliban militia on Wednesday in a north-western town close to the Afghan border. Authorities in Pakistan have encouraged the formation of militias to counter the Taliban, but the militants have rut
Published 15 Mar, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (March 14, 2012).

Published 15 Mar, 2012 12:00am
Bomb kills six anti-Taliban fighters

Bomb kills six anti-Taliban fighters

An official said a bomb has killed six members of an anti-Taliban militia on Wednesday in a north-western town close to the Afghan border. Authorities in Pakistan have encouraged the formation of militias to counter the Taliban, but the militants have rut
Published 15 Mar, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (March 14, 2012).

Published 15 Mar, 2012 12:00am
27 exploration licences awarded under new petroleum policy

27 exploration licences awarded under new petroleum policy

The Ministry of Petroleum and Natural Resources has awarded 27 exploration licences under the new Petroleum Policy 2012 and will award another 20 licences within the next three months. A senior official of the ministry told Business Recorder here o
Published 15 Mar, 2012 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 15 Mar, 2012 12:00am
27 exploration licences awarded under new petroleum policy

27 exploration licences awarded under new petroleum policy

The Ministry of Petroleum and Natural Resources has awarded 27 exploration licences under the new Petroleum Policy 2012 and will award another 20 licences within the next three months. A senior official of the ministry told Business Recorder here o
Published 15 Mar, 2012 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 15 Mar, 2012 12:00am
27 exploration licences awarded under new petroleum policy

27 exploration licences awarded under new petroleum policy

The Ministry of Petroleum and Natural Resources has awarded 27 exploration licences under the new Petroleum Policy 2012 and will award another 20 licences within the next three months. A senior official of the ministry told Business Recorder here o
Published 15 Mar, 2012 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Wednesday (March 14, 2012).

Published 15 Mar, 2012 12:00am
Men in uniform need encouragement not TV debate: CoAS

Men in uniform need encouragement not TV debate: CoAS

Chief of Army Staff General Ashfaq Parvez Kayani on Wednesday expressed concern over media debate vis-à-vis Army and Inter Services Intelligence (ISI) saying "the role of national institutions should not be criticised." He said this in an informal chat wi
Published 15 Mar, 2012 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (March 14, 2012).

Published 15 Mar, 2012 12:00am
Men in uniform need encouragement not TV debate: CoAS

Men in uniform need encouragement not TV debate: CoAS

Chief of Army Staff General Ashfaq Parvez Kayani on Wednesday expressed concern over media debate vis-à-vis Army and Inter Services Intelligence (ISI) saying "the role of national institutions should not be criticised." He said this in an informal chat wi
Published 15 Mar, 2012 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (March 14, 2012) and for Thursday (March 15, 2012).
Published 15 Mar, 2012 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (March 14, 2012).

Published 15 Mar, 2012 12:00am
President summons Parliament joint session on March 17

President summons Parliament joint session on March 17

President Asif Ali Zardari on Wednesday summoned the joint session of the Parliament on March 17 at 11 am. Spokesperson to the President Farhatullah Babar said the President would address the joint session at the beginning of the new year of the Parliamen
Published 15 Mar, 2012 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednesday (March 14, 2012).

Published 15 Mar, 2012 12:00am
President summons Parliament joint session on March 17

President summons Parliament joint session on March 17

President Asif Ali Zardari on Wednesday summoned the joint session of the Parliament on March 17 at 11 am. Spokesperson to the President Farhatullah Babar said the President would address the joint session at the beginning of the new year of the Parliamen
Published 15 Mar, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (March 14, 2012).

Published 15 Mar, 2012 12:00am
Four US banks fail stress tests

Four US banks fail stress tests

Citigroup was one of four large US banks that flunked stress tests aimed at seeing how they would hold up in a new economic crisis, Federal Reserve data showed Tuesday. Three others - Ally, Suntrust and MetLife - also failed the tests, while 15 other larg
Published 15 Mar, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (March 14, 2012).

Published 15 Mar, 2012 12:00am
Four US banks fail stress tests

Four US banks fail stress tests

Citigroup was one of four large US banks that flunked stress tests aimed at seeing how they would hold up in a new economic crisis, Federal Reserve data showed Tuesday. Three others - Ally, Suntrust and MetLife - also failed the tests, while 15 other larg
Published 15 Mar, 2012 12:00am
Four US banks fail stress tests

Four US banks fail stress tests

Citigroup was one of four large US banks that flunked stress tests aimed at seeing how they would hold up in a new economic crisis, Federal Reserve data showed Tuesday. Three others - Ally, Suntrust and MetLife - also failed the tests, while 15 other larg
Published 15 Mar, 2012 12:00am
PIBs'''' auction: Rs 25.094 billion bids accepted

PIBs'''' auction: Rs 25.094 billion bids accepted

The State Bank of Pakistan on Wednesday conducted auction of Pakistan Investment Bonds (PIBs) and accepted bids worth Rs 25.094 billion with a realised amount of Rs 23.95 billion. The SBP received Rs 33.069 billion worth bids for the sale of 3-, 5-, 10- a
Published 15 Mar, 2012 12:00am
THE RUPEE: falling trend

THE RUPEE: falling trend

The rupee drifted lower against the dollar in the interbank dealings while, it showed no change versus the greenback on the open market on Wednesday, dealers said. The rupee shed five paisa in relation to the dollar for buying and selling at 90.77 and 90.
Published 15 Mar, 2012 12:00am
PIBs'' auction: Rs 25.094 billion bids accepted

PIBs'' auction: Rs 25.094 billion bids accepted

The State Bank of Pakistan on Wednesday conducted auction of Pakistan Investment Bonds (PIBs) and accepted bids worth Rs 25.094 billion with a realised amount of Rs 23.95 billion. The SBP received Rs 33.069 billion worth bids for the sale of 3-, 5-, 10- a
Published 15 Mar, 2012 12:00am
THE RUPEE: falling trend

THE RUPEE: falling trend

The rupee drifted lower against the dollar in the interbank dealings while, it showed no change versus the greenback on the open market on Wednesday, dealers said. The rupee shed five paisa in relation to the dollar for buying and selling at 90.77 and 90.
Published 15 Mar, 2012 12:00am
PIBs' auction: Rs 25.094 billion bids accepted

PIBs' auction: Rs 25.094 billion bids accepted

The State Bank of Pakistan on Wednesday conducted auction of Pakistan Investment Bonds (PIBs) and accepted bids worth Rs 25.094 billion with a realised amount of Rs 23.95 billion. The SBP received Rs 33.069 billion worth bids for the sale of 3-, 5-, 10- a
Published 15 Mar, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Wednesday (March 14, 2012).

Published 15 Mar, 2012 12:00am
PIBs' auction: Rs 25.094 billion bids accepted

PIBs' auction: Rs 25.094 billion bids accepted

The State Bank of Pakistan on Wednesday conducted auction of Pakistan Investment Bonds (PIBs) and accepted bids worth Rs 25.094 billion with a realised amount of Rs 23.95 billion. The SBP received Rs 33.069 billion worth bids for the sale of 3-, 5-, 10- a
Published 15 Mar, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Wednesday (March 14, 2012).

Published 15 Mar, 2012 12:00am
Lawmakers vote to relax Swiss secrecy for Holocaust funds

Lawmakers vote to relax Swiss secrecy for Holocaust funds

Swiss lawmakers on Wednesday voted to relax strict secrecy laws to make it easier to liquidate unclaimed accounts held in Swiss banks, a major step forward in efforts to deal with wealth hidden by Jews from the Nazis during the Second World War. Though Sw
Published 15 Mar, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Wednesday (March 14, 2012).

Published 15 Mar, 2012 12:00am
Lawmakers vote to relax Swiss secrecy for Holocaust funds

Lawmakers vote to relax Swiss secrecy for Holocaust funds

Swiss lawmakers on Wednesday voted to relax strict secrecy laws to make it easier to liquidate unclaimed accounts held in Swiss banks, a major step forward in efforts to deal with wealth hidden by Jews from the Nazis during the Second World War. Though Sw
Published 15 Mar, 2012 12:00am
Lawmakers vote to relax Swiss secrecy for Holocaust funds

Lawmakers vote to relax Swiss secrecy for Holocaust funds

Swiss lawmakers on Wednesday voted to relax strict secrecy laws to make it easier to liquidate unclaimed accounts held in Swiss banks, a major step forward in efforts to deal with wealth hidden by Jews from the Nazis during the Second World War. Though Sw
Published 15 Mar, 2012 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (March 14, 2012).

Published 15 Mar, 2012 12:00am
Saudi Arabia closes its embassy in Syria

Saudi Arabia closes its embassy in Syria

Saudi Arabia said on Wednesday that it had closed its embassy in Syria and withdrawn all diplomats and staff, the Saudi Press Agency reported. A Foreign Ministry statement said the decision was made "in light of the current events in Syria". Several Arab
Published 15 Mar, 2012 12:00am
Saudi Arabia closes its embassy in Syria

Saudi Arabia closes its embassy in Syria

Saudi Arabia said on Wednesday that it had closed its embassy in Syria and withdrawn all diplomats and staff, the Saudi Press Agency reported. A Foreign Ministry statement said the decision was made "in light of the current events in Syria". Several Arab
Published 15 Mar, 2012 12:00am
No decision taken on FDI from Pakistan: India

No decision taken on FDI from Pakistan: India

Indian government on Wednesday said it had not taken any decision on allowing investments from Pakistan. "No decision has been notified by the government in regard to permitting investments from Pakistan on par with Bangladesh," Minister of State for Comm
Published 15 Mar, 2012 12:00am
No decision taken on FDI from Pakistan: India

No decision taken on FDI from Pakistan: India

Indian government on Wednesday said it had not taken any decision on allowing investments from Pakistan. "No decision has been notified by the government in regard to permitting investments from Pakistan on par with Bangladesh," Minister of State for Comm
Published 15 Mar, 2012 12:00am
No decision taken on FDI from Pakistan: India

No decision taken on FDI from Pakistan: India

Indian government on Wednesday said it had not taken any decision on allowing investments from Pakistan. "No decision has been notified by the government in regard to permitting investments from Pakistan on par with Bangladesh," Minister of State for Comm
Published 15 Mar, 2012 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 15 Mar, 2012 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 15 Mar, 2012 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 15 Mar, 2012 12:00am
Soldier hurt in 'incident' as Panetta lands in Afghanistan

Soldier hurt in 'incident' as Panetta lands in Afghanistan

A member of Nato-led forces was injured in an "incident" as US Defence Secretary Leon Panetta arrived at a military base in Afghanistan Wednesday, the military said. "At no point was the secretary or anyone on the aircraft in any danger from this incident
Published 15 Mar, 2012 12:00am
Soldier hurt in 'incident' as Panetta lands in Afghanistan

Soldier hurt in 'incident' as Panetta lands in Afghanistan

A member of Nato-led forces was injured in an "incident" as US Defence Secretary Leon Panetta arrived at a military base in Afghanistan Wednesday, the military said. "At no point was the secretary or anyone on the aircraft in any danger from this incident
Published 15 Mar, 2012 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 15 Mar, 2012 12:00am
Pakistan team in India for Mumbai carnage probe

Pakistan team in India for Mumbai carnage probe

Pakistani investigators and lawyers arrived in India on Wednesday to obtain evidence for prosecuting seven Pakistani suspects linked to the 2008 Mumbai attacks in which 166 people died. The visit is the first of its kind, and comes after Pakistan indicted
Published 15 Mar, 2012 12:00am
Pakistan team in India for Mumbai carnage probe

Pakistan team in India for Mumbai carnage probe

Pakistani investigators and lawyers arrived in India on Wednesday to obtain evidence for prosecuting seven Pakistani suspects linked to the 2008 Mumbai attacks in which 166 people died. The visit is the first of its kind, and comes after Pakistan indicted
Published 15 Mar, 2012 12:00am
LSE declines by 15.58 points

LSE declines by 15.58 points

Mixed sentiments prevailed on the Lahore Stock Exchange on Wednesday where equities moved both ways and finally stayed in positive zone due to investors' interest in potential shares. The LSE-25 index was decreased by 15.58 points and was closed at 3632.8
Published 15 Mar, 2012 12:00am
LSE declines by 15.58 points

LSE declines by 15.58 points

Mixed sentiments prevailed on the Lahore Stock Exchange on Wednesday where equities moved both ways and finally stayed in positive zone due to investors' interest in potential shares. The LSE-25 index was decreased by 15.58 points and was closed at 3632.8
Published 15 Mar, 2012 12:00am
ISE index surges by 20.99 points

ISE index surges by 20.99 points

Equities moved both ways on the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an improvement of 20.99 points as the ISE Ten Index moved from 2,811.96
Published 15 Mar, 2012 12:00am
ISE index surges by 20.99 points

ISE index surges by 20.99 points

Equities moved both ways on the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an improvement of 20.99 points as the ISE Ten Index moved from 2,811.96
Published 15 Mar, 2012 12:00am
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