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Nov 03, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2012-06-05
Indian shares recover on rate cut hopes

Indian shares recover on rate cut hopes

India's main indexes recovered on Monday after earlier hitting their lowest intraday levels since early January, as hopes for interest rate cuts sparked gains in banks, while bargain-hunting lifted bluechips such as Larsen & Toubro. Falling oil prices as
Published 05 Jun, 2012 12:00am
London markets closed

London markets closed

London stocks, financial and commodity markets were closed on Monday and will remained closed on Tuesday for the Queen's diamond Jubilee celebration. The markets resume trading on Wednesday.
Published 05 Jun, 2012 12:00am
Taiwan stocks tumble

Taiwan stocks tumble

Taiwan stocks posted their worst fell in more than six months on Monday, hit by a regional sell-off on fears of a global economic downturn, and by concerns about a planned capital gains tax plan. Finance minister Chang Sheng-ho told reporters on the sidel
Published 05 Jun, 2012 12:00am
South Korean shares fall

South Korean shares fall

South Korean shares ended at their lowest in two-and-a-half weeks on Monday, just above an intraday low for the year set during the session, as US jobs data aggravated worry about a global slowdown and sent investors fleeing risky assets. The Korea Compos
Published 05 Jun, 2012 12:00am
Hang Seng at 2012 low

Hang Seng at 2012 low

Hong Kong shares tumbled 2 percent to their lowest close for the year on Monday as weak US data added to worries about Europe's deepening debt crisis and China's slowing economy, driving investors out of riskier assets. All major Asian stock markets slump
Published 05 Jun, 2012 12:00am
Southeast Asian stocks extend drop

Southeast Asian stocks extend drop

Southeast Asian stock markets fell on Monday as investors dumped risky assets across the region on heightened fears of a global slowdown after disappointing data from US and China. Indonesia's Jakarta Composite was one of the region's worst performers on
Published 05 Jun, 2012 12:00am
Australian shares slump

Australian shares slump

Australian shares slumped 1.9 percent to a six-month low on Monday as investors joined a global flight out of risky assets, triggered by fresh concerns over a global economic slowdown after anaemic US jobs figures and soft Chinese factory data. The day's
Published 05 Jun, 2012 12:00am
Expectation of fresh measures boost European shares

Expectation of fresh measures boost European shares

Eurozone equities nudged higher on Monday as market talk of fresh measures from policymakers to help the region's troubled banking sector sparked a rally in battered Spanish, French and Italian stocks, eclipsing a drop in the German DAX. Frankfurt's indus
Published 05 Jun, 2012 12:00am
Euro edges back towards two-year low in Asia

Euro edges back towards two-year low in Asia

The euro edged back towards a two-year low against the dollar on Monday, failing to hold on to the previous session's gains as concerns over the euro zone and sluggish global growth overcame hopes for more fiscal stimulus in the wake of a grim US jobs rep
Published 05 Jun, 2012 12:00am
Early trade in New York: euro rallies against the dollar, yen

Early trade in New York: euro rallies against the dollar, yen

The euro rallied against the dollar and the yen on Monday as investors bet European authorities can keep the euro zone intact, though concerns over Spain's ailing banking sector and global growth continued to cap gains. France and the European Commission
Published 05 Jun, 2012 12:00am
Euro off lows, yen checked by intervention jitters

Euro off lows, yen checked by intervention jitters

The euro held steady as peripheral bond yields eased on Monday and led some investors to pare bearish bets against the common currency, while concerns over Spain's ailing banking sector and global growth supported the greenback and the yen. Grim US jobs d
Published 05 Jun, 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 Monday. 81.91-81.94 (previous 81.90-81.94). Call Money Rates: 9.25-15.00 percent (previous 9.25-15.00 percent.
Published 05 Jun, 2012 12:00am
Ringgit touches eight-month low

Ringgit touches eight-month low

The Malaysian ringgit hit an eight-month low and the Taiwan dollar touched a four-month trough on Monday on heightened worries about global growth after data last week showed surprisingly weak US job growth in May. Most emerging Asian currencies were weak
Published 05 Jun, 2012 12:00am
Aussie and New Zealand dollar under pressure

Aussie and New Zealand dollar under pressure

The Australian and New Zealand dollars wallowed near multi-month lows on Monday as a rout in Asian stocks added to jitters in a market already fretting about Europe's debt crisis and slower global growth. The Aussie dipped 0.4 percent on the day to $0.965
Published 05 Jun, 2012 12:00am
Yuan closes flat

Yuan closes flat

The yuan closed flat on Monday after a day of restrained volatility, as traders waited for further cues on how economic uncertainties in Europe will play out in the Chinese currency. The People's Bank of China (PBOC) allowed the yuan to post a historical
Published 05 Jun, 2012 12:00am
Indian rupee falls

Indian rupee falls

The Indian rupee weakened for the first day in three against the dollar, retreating from a one-week high earlier, as oil importers stepped in to buy the US unit, while waning greenback sales by corporates and exporters in late trade also hurt. Despite Mon
Published 05 Jun, 2012 12:00am
Almagro, Ferrer into last eight at French Open

Almagro, Ferrer into last eight at French Open

Nicolas Almagro of Spain reached the French Open quarter-finals on Monday with a dominant 6-4, 6-4, 6-4 win over Janko Tipsarevic of Serbia. The 12th seed will play either second seed and defending champion Rafael Nadal of Spain or Juan Monaco of Argentin
Published 05 Jun, 2012 12:00am
Li crashes, Sharapova struggles into quarters

Li crashes, Sharapova struggles into quarters

Defending champion Li Na of China crashed out of the French Open on Monday while Maria Sharapova overcame a catalogue of errors on a bitterly cold day in Paris to struggle into the quarter-finals for the sixth time. Li, who was Asia's first Grand Slam sin
Published 05 Jun, 2012 12:00am
Pybus seeks Bangladesh improvement

Pybus seeks Bangladesh improvement

Bangladesh's new coach Richard Pybus said Monday he wanted his team to build on encouraging results in recent times in order to compete strongly in international cricket. "We want to go up in the rankings in all formats," the 47-year-old Englishman said i
Published 05 Jun, 2012 12:00am
Asfandyar, Tahir lead in World-wide Bridge

Asfandyar, Tahir lead in World-wide Bridge

Pakistan's teenage-star Asfandyar Hussain pairing with national star Tahir Abbas carved history in Pakistan to achieve the distinction of heading second day in the World-wide Bridge, Pakistan Mind Sports Association (SMAP) announced on Monday.
Published 05 Jun, 2012 12:00am
Sohail Tanvir included into ODI squad

Sohail Tanvir included into ODI squad

Pakistan on Monday added Sohail Tanvir to the One-day squad against Sri Lanka after the left-arm paceman excelled in the Twenty20 series draw, fast bowler Sohail Tanvir has been retained for the ODI squad and will replace the injured opening batsman Nasir
Published 05 Jun, 2012 12:00am
Magical Woods claims 73rd PGA Tour title

Magical Woods claims 73rd PGA Tour title

Tiger Woods overhauled a fading Spencer Levin and a charging Rory Sabbatini with a few moments of magic to win his 73rd PGA Tour title by two shots at the Memorial tournament on Sunday. He began the final day four strokes behind the pacesetting Levin and
Published 05 Jun, 2012 12:00am
US factory orders post surprise fall

US factory orders post surprise fall

New orders for US factory goods fell in April for the third time in four months as demand slipped for everything from cars and machinery to computers, the latest worrisome sign for the economy. The Commerce Department said on Monday orders for manufacture
Published 05 Jun, 2012 12:00am
French rogue trader Kerviel launches appeal

French rogue trader Kerviel launches appeal

Ex-trader Jerome Kerviel began his appeal on Monday against a three-year prison sentence for his role in France's biggest rogue trading scandal, arguing he was not responsible for a 4.9 billion euro ($6.1 billion) loss at banking group Societe Generale.
Published 05 Jun, 2012 12:00am
Iran, Iraq plan unified Opec stance

Iran, Iraq plan unified Opec stance

Iran and Iraq have agreed to adopt a unified stance on Opec production levels when the group meets next week, Iranian media reported over the weekend. According to oil ministry website Shana, Iranian Oil Minister Rostam Qasemi will argue that members shou
Published 05 Jun, 2012 12:00am
ECB holds back on bond purchases for 12th week

ECB holds back on bond purchases for 12th week

Data published by the European Central Bank on Monday showed that the bank did not intervene to buy bonds of eurozone nations last week, despite recent renewed tensions in sovereign debt markets. The ECB first launched its bond-buying blitz under the Secu
Published 05 Jun, 2012 12:00am
ECB holds back on bond purchases for 12th week

ECB holds back on bond purchases for 12th week

Data published by the European Central Bank on Monday showed that the bank did not intervene to buy bonds of eurozone nations last week, despite recent renewed tensions in sovereign debt markets. The ECB first launched its bond-buying blitz under the Secu
Published 05 Jun, 2012 12:00am
Lenders back Portugal's struggle to fend off crisis

Lenders back Portugal's struggle to fend off crisis

Portugal's bailout programme is on track and it can hit its targets for 2012 despite some risks, its international lenders said on Monday, offering strong support as Lisbon struggles to avoid following Greece into a second rescue package.
Published 05 Jun, 2012 12:00am
EU court criticises ECB over risk management rigour

EU court criticises ECB over risk management rigour

The European Court of Auditors on Monday criticised the European Central Bank for what it said was inappropriate management of risk in decisions affecting the eurozone. In its report on 2010 activities at the Frankfurt-based central bank for the euro, the
Published 05 Jun, 2012 12:00am
G7, others to discuss eurozone crisis

G7, others to discuss eurozone crisis

Finance ministers of the Group of Seven and other economic powers will talk by phone on Tuesday on the eurozone crisis and the weakness of certain banks, Canadian Finance Minister Jim Flaherty said Monday. "Those discussions also take place with some of t
Published 05 Jun, 2012 12:00am
Sony falls below 1,000 yen for first time since 1980

Sony falls below 1,000 yen for first time since 1980

Sony shares tumbled below 1,000 yen Monday for the first time since 1980 and the era of the Walkman, sending the value of the company crashing to less than a tenth of what it was just over a decade ago. The entertainment and electronics giant dropped 1.67
Published 05 Jun, 2012 12:00am
Sony falls below 1,000 yen for first time since 1980

Sony falls below 1,000 yen for first time since 1980

Sony shares tumbled below 1,000 yen Monday for the first time since 1980 and the era of the Walkman, sending the value of the company crashing to less than a tenth of what it was just over a decade ago. The entertainment and electronics giant dropped 1.67
Published 05 Jun, 2012 12:00am
India admits it has no fiscal firepower

India admits it has no fiscal firepower

India's finance minister admitted Monday that the government had no scope to increase public spending to spur the flagging economy, but said interest rate cuts might be possible. Shock economic growth figures published last Thursday showed the Indian econ
Published 05 Jun, 2012 12:00am
Exploration by British oil companies 'illegal': Argentina

Exploration by British oil companies 'illegal': Argentina

Argentina on Monday declared "illegal" the oil exploration by five British companies near the Falkland Islands, which Buenos Aires long has claimed as part of its territory. The companies' activities "proved to be illegal and clandestine, as they're takin
Published 05 Jun, 2012 12:00am
Eurozone factory prices cool

Eurozone factory prices cool

Eurozone factory prices unexpectedly held steady in April, marking the fourth straight month of weakening inflation pressures and giving the European Central Bank some space to cut interest rates as the continent's economy slumps. Prices at factory gates
Published 05 Jun, 2012 12:00am
Google lodges Nokia, Microsoft complaint with EU

Google lodges Nokia, Microsoft complaint with EU

US Internet giant Google said Monday it has lodged a complaint with European Union competition authorities against Finland's Nokia and its US software peer Microsoft. The complaint, lodged last week in line with action in the United States, alleges collus
Published 05 Jun, 2012 12:00am
China to make plans for Greek euro exit risk

China to make plans for Greek euro exit risk

The Chinese government has called on key agencies including the central bank to come up with plans to deal with the potential economic risks of a Greek withdrawal from the euro zone, three sources with knowledge of the matter told Reuters on Monday. The s
Published 05 Jun, 2012 12:00am
'One-in-three' chance Greece quits eurozone: S&P

'One-in-three' chance Greece quits eurozone: S&P

International ratings agency Standard & Poor's said Monday there was a one-in-three chance of Greece leaving the eurozone in the coming months after June 17 polls. "We believe there is at least a one-in-three chance of Greece exiting the eurozone in the c
Published 05 Jun, 2012 12:00am
Spain seeks direct EU bank aid, Germany resists

Spain seeks direct EU bank aid, Germany resists

Prime Minister Mariano Rajoy is pressing for a direct European rescue for Spain's banks with moral support from the European Commission, but Germany appeared to rule out such a "bailout lite" for the euro zone's fourth biggest member.
Published 05 Jun, 2012 12:00am
Hong Kong marks Tiananmen massacre, China censors Internet

Hong Kong marks Tiananmen massacre, China censors Internet

Tens of thousands turned out for a candlelit vigil in Hong Kong on Monday in memory of the bloody crackdown on pro-democracy protesters in and near Beijing's Tiananmen Square in 1989, and China moved to halt Internet searches related to the killings.
Published 05 Jun, 2012 12:00am
Latvian airline launches world-first flight buddies

Latvian airline launches world-first flight buddies

Getting trapped in a boring conversation with a fellow passenger aboard a plane could soon be a thing of the past thanks to a world-first flight buddy system developed by Latvia's national airline. Baltic flag-carrier airBaltic's new "SeatBuddy" scheme ai
Published 05 Jun, 2012 12:00am
Vietnam grants US access to new areas for MIA search

Vietnam grants US access to new areas for MIA search

Vietnam said Monday it would open up new areas to American teams searching for missing war-time soldiers, the latest sign of closer ties between two countries that are wary of China's growing power. Vietnamese Defence Minister Phung Quang Thanh announced
Published 05 Jun, 2012 12:00am
Asia witnesses partial lunar eclipse

Asia witnesses partial lunar eclipse

The first partial lunar eclipse of the year provided dramatic scenes across Asia late Monday, with a clear moon visible to many as the event unfolded. While Australia and the east of Japan watched as the Earth slid between the Moon and the Sun, casting a
Published 05 Jun, 2012 12:00am
Sachin Tendulkar sworn in as MP

Sachin Tendulkar sworn in as MP

Indian cricket legend Sachin Tendulkar was sworn in as a member of the upper house of parliament on Monday, but he vowed to put his on-field performance before any political activity. Tendulkar, who is worshipped by millions of avid cricket fans in India,
Published 05 Jun, 2012 12:00am
Romney favourability rating rises

Romney favourability rating rises

Republican Mitt Romney is gaining on rival Barack Obama on the favourability front but still trails the president, a new poll showed Monday. Romney's favourable rating has jumped 14 points since February - the height of the Republican Party's nomination b
Published 05 Jun, 2012 12:00am
IAEA sees demolition at Iran site, new talks set

IAEA sees demolition at Iran site, new talks set

Satellite images indicate buildings are being demolished and soil removed at Parchin, an Iranian military site the UN nuclear watchdog wants to visit, its chief said on Monday. Yukiya Amano's comments will reinforce Western diplomats' suspicions that Iran
Published 05 Jun, 2012 12:00am
Syrian rebels no longer respect truce, blame Assad

Syrian rebels no longer respect truce, blame Assad

Syrian rebels said on Monday they were no longer bound by a UN-backed truce because President Bashar al-Assad had failed to observe their Friday deadline to implement the cease-fire and had only attacked government forces to defend "our people". A Syrian
Published 05 Jun, 2012 12:00am
US top court rejects Blackwater Iraq shooting appeal

US top court rejects Blackwater Iraq shooting appeal

The US Supreme Court on Monday rejected an appeal by four Blackwater World-wide security guards who argued prosecutors made improper use of their statements to investigators in charging them with killing 14 Iraqi civilians in 2007. The justices refused to
Published 05 Jun, 2012 12:00am
26 killed as bomb hits Shia site in Baghdad

26 killed as bomb hits Shia site in Baghdad

A suicide bomber detonated an explosive-packed car outside a Shia Muslim office in central Baghdad on Monday, killing at least 26 people and wounding more than 190 in an attack bearing the hallmarks of Iraq's al Qaeda affiliate. The bombing on a Shia reli
Published 05 Jun, 2012 12:00am
Putin wants closer EU trade ties, skirts Syria

Putin wants closer EU trade ties, skirts Syria

Russian President Vladimir Putin pressed the European Union on Monday for faster progress toward visa-free travel and said the EU will have to deal with a economic alliance among ex-Soviet states, while skirting the issue of Syria in public comments.
Published 05 Jun, 2012 12:00am
New York cotton ends near three-year low

New York cotton ends near three-year low

Cotton futures ended on Monday near a 3-year low for the second session running on investor sales, but the market trimmed its losses on consumer buying and signs that it was heavily oversold and due for a recovery, brokers said. "Nobody's got any confiden
Published 05 Jun, 2012 12:00am
Shanghai copper at seven-month low

Shanghai copper at seven-month low

Shanghai copper fell more than 3 percent on Monday to its lowest level since October 24, dragged down by disappointing jobs data in the United States last week which raised new fears of global economic woes depressing demand for industrial metals. The US
Published 05 Jun, 2012 12:00am
Oil up on hopes action near on economic growth

Oil up on hopes action near on economic growth

Oil prices edged higher on Monday, snapping a string of four lower closes, as a drop to multi-month lows attracted bargain hunters and as the euro rose against the dollar on hopes that Europe's leaders can keep the euro zone intact. Brent and US crude rec
Published 05 Jun, 2012 12:00am
Tokyo rubber futures sink

Tokyo rubber futures sink

Tokyo rubber futures sank to their lowest since late 2009 on Monday after speculators dumped riskier assets such as equities and commodities on concerns the debt crisis in Europe could spark a global economic meltdown. The sell-off in Tokyo, which spilled
Published 05 Jun, 2012 12:00am
Malaysian palm oil touches 2012 low

Malaysian palm oil touches 2012 low

Malaysian palm oil futures fell to the lowest so far this year on Monday, as investors rushed for the exits on growing global economic fears that also triggered a broader sell-off in other commodities markets. Palm oil closed below the key 3,000-ringgit m
Published 05 Jun, 2012 12:00am
Sugar and coffee drop near two-year lows

Sugar and coffee drop near two-year lows

Raw sugar and arabica coffee futures fell on Monday, trading near two-year lows on worries over weak global economies and bumper supplies, but dealings were thinned out by a lengthy holiday in England. With Britain celebrating Queen Elizabeth's 60th year
Published 05 Jun, 2012 12:00am
Gold lower in Asia

Gold lower in Asia

Gold edged lower on Monday after posting its biggest rally in more than three years in the previous session, when dismal US jobs data fuelled speculation about further monetary easing and burnished gold's appeal as a hedge against inflation. The surprisin
Published 05 Jun, 2012 12:00am
Gold eases in Europe

Gold eases in Europe

Gold eased on Monday as losses on wider markets prompted some investors to cash in gains from the metal's biggest one-day price rise in over three years, but it held near its highest in almost a month on speculation about US monetary easing. Gold broke ra
Published 05 Jun, 2012 12:00am
US MIDDAY: grains rally

US MIDDAY: grains rally

US grains rallied on Monday as the dollar eased, with corn jumping 2 percent from its 1-1/2 year lows on Friday as dry weather in the US Midwest grain belt threatened yields. Wheat futures rose for the first time in five sessions, but the euro zone's debt
Published 05 Jun, 2012 12:00am
US MIDDAY: copper slips

US MIDDAY: copper slips

Copper fell for the fourth straight day in New York o n Monday, unable to sustain an early bounce from a seven-month low as mounting fears over the global economy continued to darken the demand outlook for industrial metals. Conditions were thin and chopp
Published 05 Jun, 2012 12:00am
US MIDDAY: gold falls

US MIDDAY: gold falls

Gold fell on Monday as bullion investors cashed in some of the previous session's sharp gains to cover losses in US equities, which came under pressure from signs of a US economic slowdown and Europe's debt crisis. The metal, which rallied 4.3 percent on
Published 05 Jun, 2012 12:00am
PMA, SWDA condemn abduction of doctors

PMA, SWDA condemn abduction of doctors

Pakistan Medical Association (PMA) and Sindh Welfare Doctors Association (SWDA) condemn the kidnapping of another young doctor Nayab Gohar. He was a post graduate trainee of MCPS in Paeds department in Baqai Medical University. He was abducted from Gulist
Published 05 Jun, 2012 12:00am
CHK presents woeful conditions

CHK presents woeful conditions

The lack of proper counters at Civil Hospital Karachi (CHK), patients who are visited in emergency center have to wait for long hours to get enrolled at the hospital, a brief visit of the city's largest public sector hospital revealed on Monday. Moreover,
Published 05 Jun, 2012 12:00am
Government working towards improving law, order: Qaim

Government working towards improving law, order: Qaim

Sindh Chief Minister Syed Qaim Ali Shah has assured the business community that law and order in the city would improve after delegation of magistrate's powers to Deputy Commissioners (DCs). Addressing the members of Site Association of Industry (SAI) on
Published 05 Jun, 2012 12:00am
Man killed in Quetta

Man killed in Quetta

Unidentified armed men gunned down a person on Qambrani road in the metropolis on Monday. When contacted police told APP those unknown gunmen riding bike opened fire at one Daroon Khan on Qambrani road in the Sariab area, killing him on the spot. The atta
Published 05 Jun, 2012 12:00am
Faysal Bank sells 1.5 million shares

Faysal Bank sells 1.5 million shares

Faysal Bank Limited has sold 1,500,000 shares (0.88 percent shareholding) owned by it in Khushhali Bank Limited in line with UBL Consortium's bid of Rs 20.44 (approximately) per share and in accordance with regulatory approvals. According to an informatio
Published 05 Jun, 2012 12:00am
Faysal Bank sells 1.5 million shares

Faysal Bank sells 1.5 million shares

Faysal Bank Limited has sold 1,500,000 shares (0.88 percent shareholding) owned by it in Khushhali Bank Limited in line with UBL Consortium's bid of Rs 20.44 (approximately) per share and in accordance with regulatory approvals. According to an informatio
Published 05 Jun, 2012 12:00am
MCB Bank sells its 17.6 percent shares in KBL

MCB Bank sells its 17.6 percent shares in KBL

MCB Bank has sold 17.6 percent shares owned by it in Khushhali Bank Limited (KBL) in line with UBL consortium's bid of Rs 20.44 (approximately) per share and in accordance with regulatory approvals. According to an information sent to Karachi Stock Exchan
Published 05 Jun, 2012 12:00am
MCB Bank sells its 17.6 percent shares in KBL

MCB Bank sells its 17.6 percent shares in KBL

MCB Bank has sold 17.6 percent shares owned by it in Khushhali Bank Limited (KBL) in line with UBL consortium's bid of Rs 20.44 (approximately) per share and in accordance with regulatory approvals. According to an information sent to Karachi Stock Exchan
Published 05 Jun, 2012 12:00am
Sindh Governor calls on President

Sindh Governor calls on President

Sindh Governor Dr Ishratul Ibad Khan has called on President Asif Ali Zardari at Bilawal House on Monday. They discussed matters relating to coalition issues in the province, overall law and order and ongoing development schemes in Karachi and the provinc
Published 05 Jun, 2012 12:00am
Pir Mazhar visits SU

Pir Mazhar visits SU

The Senior Education Minister Sindh Pir Mazhar ul Haq Shahnawaz paid visit to Sindh University Campus Dadu and inspected various sections of the campus. During his visit the Pro Vice Chancellor of Campus Dr Anwar Ali Shah briefed the Minister about workin
Published 05 Jun, 2012 12:00am
Abad expresses dismay over non-inclusion of proposals

Abad expresses dismay over non-inclusion of proposals

Chairman Association of builders and developers (ABAD) Mohsin Sheikhani, Vice Chairman Arif Siddik and Chairman South Region Saleem Kassim Patel expressed their disappointment over non-inclusion of ABAD's proposals for Federal Budget 2012-2013. In a joint
Published 05 Jun, 2012 12:00am
Payment of dues: IPPs pin hope on Mukhtar

Payment of dues: IPPs pin hope on Mukhtar

The Independent Power Producers (IPPs), which are facing acute financial crisis for non-payment of its billions of rupees dues by government, have welcomed the new minister of water and power and his commitment shown to reduce the energy crisis in the cou
Published 05 Jun, 2012 12:00am
Reduction in ST on black tea: leading brands welcome government decision

Reduction in ST on black tea: leading brands welcome government decision

Leading tea brands in Pakistan, Lipton, Brooke Bond Supreme, Pearl Dust and A1 welcomed the bold decision by the Government of Pakistan to stem smuggling of tea and provide relief to consumers. As per SRO 608(I) 2012, General Sales Tax on black tea has be
Published 05 Jun, 2012 12:00am
FBR urged to suspend its April 2 circular

FBR urged to suspend its April 2 circular

An SOS has been sent to the Federal Board of Revenue (FBR) to immediately suspend its circular of April 2, withdrawing policy concession for exports given through its circular of October 5, 2009 in the selection of Final Tax Regime (FTR) cases for audit f
Published 05 Jun, 2012 12:00am
Samsung introduces Galaxy Pocket smartphone

Samsung introduces Galaxy Pocket smartphone

Samsung Electronics, a market leader and award-winning innovator in telecommunications, digital technology and consumer electronics has announced the arrival of the sleek Galaxy Pocket Smartphone that not only brings premium mobility to your palm, but als
Published 05 Jun, 2012 12:00am
Sindh government abolishes project allowances

Sindh government abolishes project allowances

In a bid to curtail non-development expenditures, Sindh government has abolished all project allowances given to hundreds of employees/officers working in various projects running under the administrative departments, Business Recorder learnt on Mo
Published 05 Jun, 2012 12:00am
PML-F chief wants amendments to party's constitution

PML-F chief wants amendments to party's constitution

Pir Pagra Pir Sabghatullah Shah Rashdi decided to make some amendments in the constitution of his party Pakistan Muslim League Functional (PML-F). A nine-member committee constituted in this regard, Business Recorder learnt on Monday. Informed sour
Published 05 Jun, 2012 12:00am
Traffic congestion hits trade activities

Traffic congestion hits trade activities

Rising traffic volume on the city's roads has badly disturbed trade and business activities in markets particularly in the old city area, as vehicular gridlocks hamper goods transportation now on a regular basis, traders said on Monday. During a visit to
Published 05 Jun, 2012 12:00am
Traffic congestion hits trade activities

Traffic congestion hits trade activities

Rising traffic volume on the city's roads has badly disturbed trade and business activities in markets particularly in the old city area, as vehicular gridlocks hamper goods transportation now on a regular basis, traders said on Monday. During a visit to
Published 05 Jun, 2012 12:00am
BRT project: Sindh government turns down KMC's proposal

BRT project: Sindh government turns down KMC's proposal

The increasing traffic mess has created immense problems to people/commuters in the absence of mass transit system in Karachi, Sindh Government has turned down the request/proposal of Karachi Metropolitan Corporation (KMC) for allocation of funds for its
Published 05 Jun, 2012 12:00am
South Korean audiologist arrives in Lahore

South Korean audiologist arrives in Lahore

The Korean audiologist and President Material Solution Technology (MST) Dr Daniel Lee arrived here on Monday. During his four days stay he will operate five hearing patients for cochlear implant at a local hospital at DHA. MD Hearing Clinic and renowned a
Published 05 Jun, 2012 12:00am
PEL introduces new refrigerator

PEL introduces new refrigerator

Pak Elektron Limited (PEL) - a well known brand in Pakistan's electronics market - has now introduced a new refrigerator by the name of "PEL DESIRE MORE" in a ceremony here at a hotel. Murad Saigol and Haroon A Khan were invited as the chief guests of the
Published 05 Jun, 2012 12:00am
Environment pollution: POF awareness week concludes

Environment pollution: POF awareness week concludes

A "week" was celebrated as awareness on environmental pollution in Wah Cantt under the auspices of POF Hospital. At the end of week, a "Walk" was arranged which started from POF Sports Complex and ended at Ordnance Club Wah Cantt in which people from all
Published 05 Jun, 2012 12:00am
Trade activities badly hurt by prolonged electricity outages

Trade activities badly hurt by prolonged electricity outages

Prolonged power outage is adversely hitting the industrial sector and trade activities of this export-oriented city and hub of cottage industry of the country resultantly the productivity and trading has become standstill. 18 to 20 hours load shedding has
Published 05 Jun, 2012 12:00am
Chinese team meets Railways general manager

Chinese team meets Railways general manager

Chinese delegation of M/s Dong Fang Electrical International Corporation, headed by its President Luo Zhi Gang, called on General Manager Operation of Pakistan Railways (PR) here on Monday at Railways Headquarter. A detail meeting was held covering issues
Published 05 Jun, 2012 12:00am
Three held for making fake 'humic acid'

Three held for making fake 'humic acid'

Agriculture Department team along with police officials following a raid on a factory allegedly preparing fake 'humic acid' have arrested three accused and took into custody over 2000 bags of fake 'humic acid.'
Published 05 Jun, 2012 12:00am
President ABF welcomes budget

President ABF welcomes budget

President American Business Forum (ABF) Salim Ghauri has welcomed the federal budget 2012-13 and expressed the hope that it would strengthen business activities amidst election activities ahead. He said the business community will benefit from reduction i
Published 05 Jun, 2012 12:00am
Government urged to help reduce mark-up rate

Government urged to help reduce mark-up rate

The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to bring down the mark-up rate in the country as interest rates in Pakistan are the highest in the region and making Pakistani merchandise uncompetitive. The LCCI President Irfan
Published 05 Jun, 2012 12:00am
Business activities resume in Faisalabad

Business activities resume in Faisalabad

Business activities resumed in industrial city, here on Monday, after three days shutter down strike, however, police have registered cases against 350 protestors for damaging and looting public and official property, burning motorcycles and other article
Published 05 Jun, 2012 12:00am
Speakers highlight halal food's importance

Speakers highlight halal food's importance

Two days international training workshop being arranged by the Punjab Agriculture and Meat Company (PAMCO), Islamic Food and Nutrition Council of America, Pakistan Society of Food Scientists and Technologists, National Institute of Food Science and Techno
Published 05 Jun, 2012 12:00am
LSE officials interact with Comsats students

LSE officials interact with Comsats students

The first session of Campus Outreach Program of the Lahore Stock Exchange (LSE) was held Monday for the business students from Comsats Institute of Information Technology where LSE's officials interacted with the students.
Published 05 Jun, 2012 12:00am
Protests against loadshedding continue

Protests against loadshedding continue

Angry mobs in different parts of the country kept on protesting on Monday against prolonged and unannounced power outages, taking many of them to the streets, ransacking offices and torching vehicles. Meanwhile, heat-related incidents have also kept on ca
Published 05 Jun, 2012 12:00am
Economy facing huge loss due to power crisis: Shahbaz

Economy facing huge loss due to power crisis: Shahbaz

Punjab Chief Minister Muhammad Shahbaz Sharif has said that the worst load-shedding in Pakistan's history has made the life of the people miserable; industries, agriculture and export sectors have been devastated while a huge loss has been caused to the e
Published 05 Jun, 2012 12:00am
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