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Print - 2012-04-06
Unpaid bills threaten fiscal dilemma for Italy

Unpaid bills threaten fiscal dilemma for Italy

The Italian state has racked up bills with commercial creditors equivalent to 4 percent of economic output that it is under increasing pressure to pay, but it may turn to alternative solutions to keep its debt-reduction programme on track. Italian public
Published 06 Apr, 2012 12:00am
Dubai's bourse leads Gulf markets' declines

Dubai's bourse leads Gulf markets' declines

Dubai's bourse slipped on Thursday from a five-week high as most Gulf markets closed lower amid a weak global backdrop and Egyptian stocks eased as concerns lingered that an emboldened Muslim Brotherhood could deepen political instability. Dubai's index f
Published 06 Apr, 2012 12:00am
Thursday's midday trade: Dow, S&P flat; Nasdaq rises

Thursday's midday trade: Dow, S&P flat; Nasdaq rises

US stocks traded flat to slightly higher Thursday after two straight days of declines as jobless claims data showing improvement in the US labour market helped offset revived concerns about the euro zone's fiscal stability. Government data showed the numb
Published 06 Apr, 2012 12:00am
Wall Street down on stimulus doubts

Wall Street down on stimulus doubts

US stocks fell for a second day on Wednesday as investors contemplated a world without monetary stimulus and a poorly received bond auction in Spain suggested the effects of Europe's funding operations were waning. Selling was broad as indexes tracking ni
Published 06 Apr, 2012 12:00am
Indian markets closed

Indian markets closed

Indian bond, currency, stock and interbank cash markets were closed on Thursday and Friday for local holidays. Trading resumes on Monday.
Published 06 Apr, 2012 12:00am
Treasuries rally

Treasuries rally

US Treasuries rallied on Wednesday as stock market losses and the prior session's bond selloff, the largest in three weeks, drew buyers for safe-haven US government debt. Treasuries prices fell on Tuesday when minutes from the Federal Reserve's last meeti
Published 06 Apr, 2012 12:00am
Treasuries rally

Treasuries rally

US Treasuries rallied on Wednesday as stock market losses and the prior session's bond selloff, the largest in three weeks, drew buyers for safe-haven US government debt. Treasuries prices fell on Tuesday when minutes from the Federal Reserve's last meeti
Published 06 Apr, 2012 12:00am
Hong Kong shares slip, Shanghai climbs

Hong Kong shares slip, Shanghai climbs

Hong Kong shares declined on Thursday, dragged down by weakness in the Chinese financial and consumer sectors, as investors took some profits on the final trading day before a four-day holiday weekend and ahead of US jobs data on Friday. Shanghai stocks c
Published 06 Apr, 2012 12:00am
Nikkei marks four-week low

Nikkei marks four-week low

Japan's Nikkei share average fell for a third straight day to four-week low on Thursday, hurt by renewed concerns about Europe's funding difficulties after a weak Spanish debt auction and by fading hopes for additional stimulus from the US Federal Reserve
Published 06 Apr, 2012 12:00am
Miners' recovery helps European shares limp higher

Miners' recovery helps European shares limp higher

Strong miners helped haul European equity markets into positive territory on Thursday, after a choppy day's trade, ahead of a long holiday weekend and the release of the influential March US jobs report. Miners found favour as investors bought back into t
Published 06 Apr, 2012 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks fell 1.56 percent to a more than two-month closing low on Thursday as concern over government discussions on a possible tax on stock profits compounded worries over the global economy that sent other regional bourses lower. The main TAIEX in
Published 06 Apr, 2012 12:00am
Seoul shares up

Seoul shares up

Seoul shares ended slightly higher on Thursday after sinking to a near one-month low earlier in the session, initially weighed by worries over a weak Spanish bond auction and dashed hopes of additional US stimulus, but later rebounding at a key support le
Published 06 Apr, 2012 12:00am
Southeast Asian stocks mixed

Southeast Asian stocks mixed

Stocks in Thailand and Malaysia retreated in light trade on Thursday amid profit-taking in big caps like as banks, but bargain hunting in beaten-down growth stocks lifted Indonesia. Thailand's benchmark SET index ended down 1.3 percent at 1,182.41, fallin
Published 06 Apr, 2012 12:00am
US labour data, mining stocks revive flagging FTSE 100

US labour data, mining stocks revive flagging FTSE 100

Britain's top share index pared earlier losses to close higher on Thursday, led by heavyweight mining stocks after data showing further improvement in the US labour market gave risk sentiment a modest boost. After sliding to a more than two-month low earl
Published 06 Apr, 2012 12:00am
Sterling gains versus euro

Sterling gains versus euro

Sterling hit a 2-1/2 month high against the euro on Thursday, with worries about the eurozone debt crisis and rising Spanish borrowing costs outweighing a drop in UK factory output. Bank of England policymakers voted to keep interest rates on hold at 0.5
Published 06 Apr, 2012 12:00am
Euro nurses losses

Euro nurses losses

The euro hovered within shouting distance of a three-week trough on the yen and the dollar on Thursday after a poor Spanish bond auction reignited jitters about the eurozone debt crisis, while commodity currencies were a shade stronger after a sell-off.
Published 06 Apr, 2012 12:00am
Weak euro drops below SNB's 1.20 franc floor

Weak euro drops below SNB's 1.20 franc floor

Worries about high debt levels in Spain hurt the euro on Thursday, driving it to a three-week low versus the dollar and prompting the Swiss National Bank to step in as the franc broke through a ceiling set against the common currency last year. Spanish bo
Published 06 Apr, 2012 12:00am
Euro drops versus dollar

Euro drops versus dollar

The euro dropped to a three-week low against the US dollar on Wednesday after European Central Bank president Mario Draghi said the eurozone economic outlook is subject to downside risks, leaving the door open for more policy action. The euro came under p
Published 06 Apr, 2012 12:00am
Australian dollar falls

Australian dollar falls

The Australian dollar drifted off multi-month lows against the greenback and yen on Thursday as investors squared up short positions into the Easter holidays and ahead of key data including the US jobs report. The Aussie climbed as high as $1.0307 from a
Published 06 Apr, 2012 12:00am
Won leads Asia forex gains

Won leads Asia forex gains

The South Korean won turned higher on Thursday, leading gains among emerging Asian currencies, as investors cut dollar holdings versus regional units after solid Chinese service sector data eased worries about a hard landing in the world's second-largest
Published 06 Apr, 2012 12:00am
Swiss franc steadies

Swiss franc steadies

The Swiss franc and the euro were steady against the dollar on Thursday following a two session sell off against the greenback on resurgent eurozone jitters and US Federal Reserve hints at a less accommodating US monetary policy. The franc was steady agai
Published 06 Apr, 2012 12:00am
Yuan dips

Yuan dips

The yuan dropped slightly on Thursday, pressured by a weaker fixing from the central bank and customer demand for dollars. Spot yuan was trading around 6.3088 near midday, 108 pips weaker than March 30, the last day of trading before a public holiday.
Published 06 Apr, 2012 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 81.78-81.83 (previous 81.77-81.83). Call Money Rates: 07.00-14.50 percent (previous 07.00-14.00 percent).
Published 06 Apr, 2012 12:00am
Afghanistan says no contact with MCC over tour

Afghanistan says no contact with MCC over tour

Afghanistan's cricket chief Thursday welcomed the prospect of a tour by England's Marylebone Cricket Club, but said he had so far had no contact with the venerable club about a possible visit. MCC president Phillip Hodson told the BBC more than a week ago
Published 06 Apr, 2012 12:00am
Venus topples Jankovic, Bartoli battles through

Venus topples Jankovic, Bartoli battles through

In a clash of former world number ones, Venus Williams toppled seventh-seeded Jelena Jankovic 7-5, 6-0 on Wednesday to reach the third round of the WTA's green clay Charleston tournament. Jankovic had won her last four meetings on clay against Williams, b
Published 06 Apr, 2012 12:00am
Pietersen puts England on top

Pietersen puts England on top

Kevin Pietersen shrugged off a switch-hit controversy to smash an explosive 151 off 165 balls as England took charge of the second Test against Sri Lanka in Colombo on Thursday. The flamboyant Pietersen plundered 16 boundaries and six sixes in his 20th Te
Published 06 Apr, 2012 12:00am
Japan's trio qualifies for London

Japan's trio qualifies for London

World 50-metre bronze medallist Aya Terakawa set a new Japanese record to win the women's 100m backstroke and qualify for the London Olympics on Thursday. Terakawa clocked 59.10 seconds to beat Shiho Sakai into second in 1:00.50 and Noriko Inada into thir
Published 06 Apr, 2012 12:00am
Junaid to make Lancashire return

Junaid to make Lancashire return

Pakistan international Junaid Khan will return to Lancashire in June, the English county champions revealed on Thursday. The 22-year-old starred predominantly in last year's domestic T20 competition, taking 12 wickets including a career best of three for
Published 06 Apr, 2012 12:00am
Saeed Ajmal could miss Worcestershire season

Saeed Ajmal could miss Worcestershire season

Worcestershire's hopes of ace Pakistan spinner Saeed Ajmal playing for cricket county again this summer appear to be fading due to new international commitments. England's tormentor Ajmal, who spent second half of last season at New Road, has re-signed wi
Published 06 Apr, 2012 12:00am
Westfield and Kaneria face ECB charges

Westfield and Kaneria face ECB charges

Meryvn Westfield and Pakistan leg-spinner Danish Kaneria are to face an England and Wales Cricket Board (ECB) hearing over the corrupt activities that led to the English seamer's imprisonment. In February, the 23-year-old Westfield became the first county
Published 06 Apr, 2012 12:00am
Japan's iron ladies win Kirin Cup

Japan's iron ladies win Kirin Cup

World Cup holders Japan thrashed Brazil 4-1 on Thursday to win the three-team Kirin Cup and deliver a blow to women's Olympic champions the United States in the run-up to the London Games. Yuika Sugasawa's clinical near-post flick in the 89th minute gave
Published 06 Apr, 2012 12:00am
Real to meet Bayern in semi-finals

Real to meet Bayern in semi-finals

Real Madrid completed an 8-2 aggregate thrashing of APOEL Nicosia on Wednesday that is unlikely to have taught Bayern Munich very much that they did not already know about their Champions League semi-final opponents. Jose Mourinho's men maintained their 1
Published 06 Apr, 2012 12:00am
Cairns 'vindicated' over Modi libel win

Cairns 'vindicated' over Modi libel win

Former New Zealand all-rounder Chris Cairns feels "complete vindication" and is ready for a new role in cricket after winning a libel action against former Indian Premier League boss Lalit Modi. In the first libel action heard in England against a post on
Published 06 Apr, 2012 12:00am
Chelsea flirt with danger before beating Benfica

Chelsea flirt with danger before beating Benfica

If Chelsea flirt with danger against Barcelona like they did at home to Benfica on Wednesday, their poor conversion rate of one Champions League final from five previous last-four appearances is likely to continue. Chelsea, who looked second best for long
Published 06 Apr, 2012 12:00am
Father of Porsche's iconic 911 dies

Father of Porsche's iconic 911 dies

The designer of Porsche's iconic 911 sportscar, Ferdinand Alexander Porsche, died Thursday at the age of 76 in the Austrian city of Salzburg, the German company said. The grandson of the luxury automaker's founder, F.A. Porsche, as he was known, dreamed u
Published 06 Apr, 2012 12:00am
Vietnam accuses 18 of 'plotting to overthrow state'

Vietnam accuses 18 of 'plotting to overthrow state'

Vietnamese prosecutors have accused 18 members of a little-known "reactionary" group of plotting to overthrow the communist government, official media reported Thursday. Police said they arrested the leader and 17 other members in February after a series
Published 06 Apr, 2012 12:00am
US activists pressure Renault-Nissan to leave Iran

US activists pressure Renault-Nissan to leave Iran

A US activist group on Wednesday urged French automaker Renault and its Japanese partner Nissan to pull their business out of Iran because of its suspected program to develop nuclear weapons.
Published 06 Apr, 2012 12:00am
General predicts fierce summer fighting in Afghan east

General predicts fierce summer fighting in Afghan east

The commander of Nato-led foreign forces and US troops in Afghanistan said the war-torn country would see significant fighting in the east this summer. "As I look to reduce the numbers of US forces, ... I will use significant combat power in the east, ant
Published 06 Apr, 2012 12:00am
India, China, Nigeria, Indonesia, US to lead city growth

India, China, Nigeria, Indonesia, US to lead city growth

India, China, Nigeria, Indonesia and the United States are set to lead the world's growth in urban populations during the next four decades, sparking challenges in providing jobs, housing, energy and infrastructure, the United Nations said on Thursday.
Published 06 Apr, 2012 12:00am
Kuwait-Iraq flights to resume after 20 years

Kuwait-Iraq flights to resume after 20 years

Iraq has approved a request from Kuwait's Jazeera Airways to operate services to Baghdad and Najaf, more than 20 years after direct flights between the neighbours were halted, officials said Thursday. "We agreed yesterday to the request of the Kuwaiti Jaz
Published 06 Apr, 2012 12:00am
Cameron rating hits lows after bruising fortnight

Cameron rating hits lows after bruising fortnight

British Prime Minister David Cameron's approval rating has tumbled to its lowest level since he was elected two years ago, according to a poll on Thursday, after two weeks in which policy gaffes and a funding scandal battered his Conservative Party. Only
Published 06 Apr, 2012 12:00am
'Three Cups of Tea' author to repay charity $1 million

'Three Cups of Tea' author to repay charity $1 million

A US author, nominated for a Nobel Peace Prize for his work building schools in Afghanistan and Pakistan, has agreed to repay $1 million to his charity after a probe into financial misdealing. Greg Mortenson, who wrote the best-selling book "Three Cups of
Published 06 Apr, 2012 12:00am
Millionaire's daughter guilty of chauffeuring UK rioters

Millionaire's daughter guilty of chauffeuring UK rioters

The daughter of a millionaire was convicted Thursday of driving a group of rioters around London for a looting spree during the wave of violence that spread across British cities last summer. Laura Johnson drove the balaclava-clad group around London on A
Published 06 Apr, 2012 12:00am
Murdoch hacking scandal spreads to Sky News

Murdoch hacking scandal spreads to Sky News

Sky News, part of Rupert Murdoch's media empire, said on Thursday it had hacked into emails on two occasions but insisted it had acted in the public interest, as the channel's parent company faces an investigation by British regulators. The potentially da
Published 06 Apr, 2012 12:00am
Rival militias halt fighting in western Libya

Rival militias halt fighting in western Libya

Rival militias whose clashes in western Libya have killed at least 18 people stopped fighting on Thursday, after the government sent in troops to impose a cease-fire, an army official said. Reuters reporters in the town of Zuwara said there was no sign of
Published 06 Apr, 2012 12:00am
Over 30 reported dead in Syria despite truce talk

Over 30 reported dead in Syria despite truce talk

Syria told UN-Arab League envoy Kofi Annan it had begun pulling troops out of several cities on Thursday in line with a peace plan accepted by President Bashar al-Assad, but his foes said the army was still firing in those towns and elsewhere.
Published 06 Apr, 2012 12:00am
Shanghai copper drops

Shanghai copper drops

The most-traded July copper contract on the Shanghai Futures Exchange dropped 0.2 percent to close at 59,970 yuan ($9,500) a tonne on Thursday, well off the day's low of 59,140 yuan. "I think last night's selloff was at least overdone," said Judy Zhu, com
Published 06 Apr, 2012 12:00am
Copper steadies

Copper steadies

Copper steadied on Thursday following a 3 percent loss the day before, helped by consumer buying and improved appetite for risk, but any gains were limited by a stronger dollar and ahead of the long Easter weekennd in US and European markets Three-month c
Published 06 Apr, 2012 12:00am
Oil rises, US jobless claims lift demand hopes

Oil rises, US jobless claims lift demand hopes

Oil rose on Thursday after two straight days of losses, as initial US jobless claims fell to a near four-year low last week, raising hopes that an improving labour market would lift demand for energy. Data from the US Labour Department showing first-time
Published 06 Apr, 2012 12:00am
New York cotton slides in broad rout

New York cotton slides in broad rout

Cotton futures slid with other commodity markets on Wednesday, falling from 2.20 to more than 3.50 percent to 10-day lows after the release of Federal Reserve minutes that indicated it was unlikely there would be more economic stimulus measures.Minutes fr
Published 06 Apr, 2012 12:00am
Tokyo rubber futures flat

Tokyo rubber futures flat

Key TOCOM rubber futures erased early losses and ended almost flat on Thursday helped by a stable Shanghai market, but sentiment remained weak as revised concerns about Europe's funding difficulties weighed on commodities markets. The key Tokyo Commodity
Published 06 Apr, 2012 12:00am
Wheat falls nearly three percent

Wheat falls nearly three percent

US wheat futures fell Wednesday, with the benchmark Chicago Board of Trade contract dropping 2.9 percent, on forecasts for good crop weather in the US Plains, said traders who also cited a firmer dollar. Supply concerns buoyed soybean futures as last week
Published 06 Apr, 2012 12:00am
Palm oil flat

Palm oil flat

Malaysian palm oil futures were barely changed at the close of trading on Thursday, after gaining more than 3 percent in the last three sessions, as demand hopes stemming from worries about tighter soybean supply continued to support prices. Palm oil touc
Published 06 Apr, 2012 12:00am
Arabica coffee dips

Arabica coffee dips

Arabica coffee futures consolidated lower on Thursday, pressured by a firmer dollar and commercial hedging, while cocoa inched up from the previous session's three-month low. Sugar also edged higher, supported by the prolonged dry weather interspersed wit
Published 06 Apr, 2012 12:00am
Gold tumbles in New York

Gold tumbles in New York

Gold fell to its lowest in nearly three months on Wednesday, sliding for a second straight session the day after minutes of the latest Federal Reserve policy meeting doused hopes for further US monetary stimulus. Bullion, tracking losses in equities and c
Published 06 Apr, 2012 12:00am
Gold rises in Asia

Gold rises in Asia

Gold edged up on Thursday after two straight days of deep losses, but gains were capped as receding hopes of further US monetary stimulus took the sheen off bullion's appeal as a hedge against inflation. Bullion lost more then 3 percent over the past two
Published 06 Apr, 2012 12:00am
Gold rebounds in Europe

Gold rebounds in Europe

Gold prices rose on Thursday as its fall to a near three-month low the previous day tempted some buyers back, but gains were capped by a rise in the dollar and fading hopes for more US monetary stimulus. Spot gold was up 0.6 percent at $1,628.34 an ounce
Published 06 Apr, 2012 12:00am
US MIDDAY: soya jumps

US MIDDAY: soya jumps

US soyabean futures climbed for a second straight day early on Thursday and neared a seven-month high, supported by good export demand related to a drought-damaged South American crop and short covering ahead of a three-day holiday weekend. Stronger-than-
Published 06 Apr, 2012 12:00am
US MIDDAY: copper up

US MIDDAY: copper up

In New York, the COMEX May contract firmed 0.50 cent to settle at $3.7955 per lb, after dealing between $3.7745 and $3.8270. Copper rallied this week to within 1 percent of its 2012 peaks above $8,700 a tonne and near $4 per lb on anticipation of more mon
Published 06 Apr, 2012 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

Gold rose early on Thursday, as investors covered short positions after a sharp two-day pullback, and a crude oil rally also buoyed the precious metal that sank early this week when investors grew pessimistic about further US monetary easing. Bullion rebo
Published 06 Apr, 2012 12:00am
Price of 20kg flour bag being fixed at Rs 625

Price of 20kg flour bag being fixed at Rs 625

The Punjab government has constituted a special committee to determine the new price of 20kg flour bag keeping in view the increase in the price of electricity and petroleum products. The committee comprises MNA Saud Majeed, Secretary Punjab Food Departme
Published 06 Apr, 2012 12:00am
BSEK commences SSC exams

BSEK commences SSC exams

The Secondary School Certificate (SSC) Annual Examinations of Karachi Board commenced here on Thursday. As many as 311,897 candidates are appearing in these examinations at 2250 centres in the metropolis According to Controller of Examinations of the Boar
Published 06 Apr, 2012 12:00am
DG seeks report of encroachments on LDA plots

DG seeks report of encroachments on LDA plots

Lahore Development Authority (LDA) Director General Ahad Khan Cheema has asked for a comprehensive report regarding all kinds of encroachments on LDA plots and properties situated in various housing schemes within three days. He said the matter would then
Published 06 Apr, 2012 12:00am
No electoral alliance with PPP, PML-Q: Nawaz

No electoral alliance with PPP, PML-Q: Nawaz

The Pakistan Muslim League-Nawaz (PML-N) has decided not to enter into an electoral alliance with the PPP and PML-Q, nor will it make any seat adjustment with these two parties in the coming general elections. In an interview, Nawaz, however, said that th
Published 06 Apr, 2012 12:00am
DRMS set up at GCU Lahore

DRMS set up at GCU Lahore

The Disaster Risk Management Society (DRMS) has been set up at the Government College University Lahore with an aim to train and prepare students, teachers and professionals in disaster risk management.
Published 06 Apr, 2012 12:00am
Energy sector: PIAF demands maximum funds allocation

Energy sector: PIAF demands maximum funds allocation

Pakistan Industrial and Traders Association Front (PIAF) has called for allocation of maximum funds in the upcoming budget to overcome shortage of electricity. In its budget proposals, the PIAF Chairman Sohail Lashari said the country's economic revival i
Published 06 Apr, 2012 12:00am
Railways to decide Business Express future today

Railways to decide Business Express future today

Pakistan Railways has issued a final notice to Business Express Train (private operators) warning that the agreement would be terminated if it failed to deposit the outstanding amount of Rs 8 million. Reliable sources told Business Recorder on Thur
Published 06 Apr, 2012 12:00am
Fifth Pakistan TeleCON conference on 19th

Fifth Pakistan TeleCON conference on 19th

Shamrock Conferences International has announced its fifth annual Pakistan Telecommunications Conference 2012 (TeleCON 2012) to be held here on April 19. The theme of the conference this year will be "Riding the Wave of Technology and Consolidation". Chai
Published 06 Apr, 2012 12:00am
Workshop launched to improve taxpayers' facilitation

Workshop launched to improve taxpayers' facilitation

FATE Wing FBR launched workshop for standardising of operational procedures pertaining to Taxpayers' Facilitation Centres throughout the country. The initiative launched by Member FATE Wing FBR Riffat Shaheen Qazi, is strategically aimed at bringing unifo
Published 06 Apr, 2012 12:00am
Government set to reopen corruption cases against Liaquat Jatoi

Government set to reopen corruption cases against Liaquat Jatoi

The PPP-led government is reported to have decided to re-open anti-corruption inquiries against Liaquat Jatoi, who is accused of violating the Sindh government rules of business during his tenure as the provincial minister for finance.
Published 06 Apr, 2012 12:00am
Overcoming energy crisis: KCCI chief calls for taping 4,000 waterfalls

Overcoming energy crisis: KCCI chief calls for taping 4,000 waterfalls

There are more than 4,000 waterfalls in the country where 5- to 10-megawatts power generating units can be installed, President of the Karachi Chamber of Commerce and Industry (KCCI) Mian Abrar Ahmed said on Thursday. Pakistan, he said, was facing serious
Published 06 Apr, 2012 12:00am
Tax arrears recovery campaign launched

Tax arrears recovery campaign launched

The Regional Tax Office (RTO), Karachi, has launched an arrears recovery campaign in a bid to achieve an annual budgetary target of Rs 113 billion for 2011-12. According to sources, the RTO, Karachi has started serving notices on individuals and registere
Published 06 Apr, 2012 12:00am
Meeting held to discuss performance of EOBI

Meeting held to discuss performance of EOBI

The Board of Trustees (BoT) of EOBI on Thursday has expressed satisfaction over the performance of institution and took many important decisions as well to improve the performance more. This was happened during the 102nd meeting of BoT held at EOBI House
Published 06 Apr, 2012 12:00am
Secretary of Excise & Taxation Department visits HCCI

Secretary of Excise & Taxation Department visits HCCI

Provincial Secretary of Excise & Taxation Department Manzoor Ahmed Memon visited Hyderabad Chamber of Commerce & Industry (HCCI), here on Thursday. Director General Excise & Taxation Muhammad Shoaib Siddiqui, Director Excise & Taxation Aurangzeb Panhwar a
Published 06 Apr, 2012 12:00am
ICAP certificate distribution ceremony on April 9

ICAP certificate distribution ceremony on April 9

Institute of Chartered Accountants of Pakistan (ICAP) is going to hold a certificates award distribution ceremony here on April 9. According to a press release issued here on Thursday, newly qualified CAs and CA students who have achieved outstanding resu
Published 06 Apr, 2012 12:00am
KPT donates Rs four million to ill-fated family for liver transplant

KPT donates Rs four million to ill-fated family for liver transplant

In continuation to the announcement made earlier by Federal Minister for Ports and Shipping Senator Babar Khan Ghauri and the KPT administration for providing sustenance to Momina Saeed, 41/2 years aged daughter of Saeed Ahmed Rajput, suffering from chron
Published 06 Apr, 2012 12:00am
Cottage industry: increase in oil prices set to hurt production

Cottage industry: increase in oil prices set to hurt production

The recent increase in petroleum products' prices is set to scale down the already downsized output of the cottage industry of the country with the fears of 40 percent rise in cost of production, said industrialists on Thursday.
Published 06 Apr, 2012 12:00am
IAP-KC to hold three-day event from April 13

IAP-KC to hold three-day event from April 13

The Institute of Architects Pakistan - Karachi Chapter (IAP-KC) is holding a three-day event engaging professionals and stakeholders of building industry from April 13-15, 2012 at Expo Centre, Karachi. The event, branded as IAPex consists of Building Prod
Published 06 Apr, 2012 12:00am
Food insecurity in Pakistan

Food insecurity in Pakistan

Food insecurity in Pakistan today poses the biggest challenge for the government, particularly in the wake of devastating flash floods that have wiped out assets, particularly of small farmers.
Published 06 Apr, 2012 12:00am
Australians click with the online marketplace

Australians click with the online marketplace

What has happened to the notice boards in supermarkets that offered unwanted kittens to good homes, lifts to work in the city centre for those willing to help pay for petrol and sewing machines that needed a bit of work? They have mostly migrated to inter
Published 06 Apr, 2012 12:00am
Twenty years on, fatigue and sadness in Sarajevo

Twenty years on, fatigue and sadness in Sarajevo

Sarajevo, a once happily diverse city, has not managed to recover in the 20 years since the start of the Bosnian war. "Sarejevo used to be a joyful city," recalls Amina Delic, a 46-year-old music teacher. On Friday, the capital of Bosnia and Herzegovina w
Published 06 Apr, 2012 12:00am
Retrieval of lost tax from rental power plants

Retrieval of lost tax from rental power plants

The government of Pakistan People's Party (PPP) and its allies - facing serious and multiple allegations of corruption, inefficiency and bad governance - is continuously defending its financial crimes, tax evasion, plundering and wasting of taxpayers' mon
Published 06 Apr, 2012 12:00am
A defiant Bilawal

A defiant Bilawal

PPP Chairman Bilawal Bhutto Zardari's speech at Naudero on the eve of Zulfiqar Ali Bhutto's 33rd death anniversary was as much to correct history as to caution the Supreme Court which he believed is "close to repeating the mistake of the past". And he adv
Published 06 Apr, 2012 12:00am
Address the fiscal mess to save the federation

Address the fiscal mess to save the federation

The auction plan for the sale of government securities for the last quarter of FY12 released by the State Bank of Pakistan could be interpreted as a message to the market that the fiscal position of the country is very precarious and it has no other way t
Published 06 Apr, 2012 12:00am
Lucky Cement wins two National CSR Excellence Awards

Lucky Cement wins two National CSR Excellence Awards

Lucky Cement was recently honoured with the National CSR Excellence Award by the CSR Association of Pakistan. Each year, these awards are given to companies that play active role in fulfilling their Corporate Social Responsibility. Lucky Cement has won th
Published 06 Apr, 2012 12:00am
Rashid Ghazi's death condoled

Rashid Ghazi's death condoled

Council of Pakistan Newspaper Editors (CPNE) and All Pakistan Newspaper Society (APNS) have expressed profound grief over the sad demise of Abdul Rashid Ghazi, Publisher and Chief Editor of Daily Business Report, Faisalabad. Ghazi was member of the CPNE S
Published 06 Apr, 2012 12:00am
Pacra maintains entity ratings of Pak-Arab refinery

Pacra maintains entity ratings of Pak-Arab refinery

The Pakistan Credit Rating Agency (Pacra) has maintained long-term and short-term entity ratings of Pak-Arab Refinery Limited at 'AAA' (Triple A) and 'A1+' (A One Plus) respectively. The ratings denote the lowest expectations of credit risk emanating from
Published 06 Apr, 2012 12:00am
Pacra maintains entity ratings of Pak-Arab refinery

Pacra maintains entity ratings of Pak-Arab refinery

The Pakistan Credit Rating Agency (Pacra) has maintained long-term and short-term entity ratings of Pak-Arab Refinery Limited at 'AAA' (Triple A) and 'A1+' (A One Plus) respectively. The ratings denote the lowest expectations of credit risk emanating from
Published 06 Apr, 2012 12:00am
Minister asks NHA to initiate work on Akhagram-Dir section

Minister asks NHA to initiate work on Akhagram-Dir section

Federal Minister for Communications, Dr Arbab Alamgir Khan, has directed the NHA to start construction work on Akhagram-Dir section of Nowshera-Chakdara-Chitral National Highway (N-45) at the earliest and expressed the hope that reasonable increase in PSD
Published 06 Apr, 2012 12:00am
Five gang rape suspects yet to be arrested

Five gang rape suspects yet to be arrested

The capital police are yet to arrest the remaining five accused involved in the gang-rape of two girls who had previously been kidnapped from the limits of Shahzad Town Police Station on Wednesday night. Police sources, however, said that one accused name
Published 06 Apr, 2012 12:00am
RTO Peshawar accused of collecting illegal tax

RTO Peshawar accused of collecting illegal tax

Pakistan Beverages Association (PBA) has alleged collection of illegal tax by the Regional Tax Office (RTO) Peshawar and demanded immediate stoppage of the practice to prevent rendering hundreds of youth unemployed. Addressing a news conference, President
Published 06 Apr, 2012 12:00am
BISP: reliance on external financing to increase foreign borrowing

BISP: reliance on external financing to increase foreign borrowing

The government's increasing reliance on external financing to run Benazir Income Support Program (BISP) will significantly increase country's foreign borrowing, which is already around $60 billion. Well-placed sources told Business Recorder here on
Published 06 Apr, 2012 12:00am
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