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Nov 26, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2012-06-21
Southeast Asian stocks surge

Southeast Asian stocks surge

All Southeast Asian stock markets gained on Wednesday for a third straight day as hopes for new monetary stimulus by major central banks and the US Federal Reserve helped boost investor appetite for risky assets. "Everybody is hopeful of major central ban
Published 21 Jun, 2012 12:00am
Australian shares up; News Corp boosts media stocks

Australian shares up; News Corp boosts media stocks

Australian shares rose just 0.2 percent on Wednesday, giving up most early gains as anxious investors awaited the outcome of the US Fed's policy meeting later in the day. Expectations that the Fed may extend its long-term bond-buying programme to stimulat
Published 21 Jun, 2012 12:00am
Indian shares edge higher

Indian shares edge higher

India's benchmark index edged higher on Wednesday as power equipment makers such as Larsen & Toubro gained on hopes the government would consider imposing import duties for foreign makers. Gains in Asian indexes contributed to a more optimistic mood as in
Published 21 Jun, 2012 12:00am
Hong Kong shares rise; China slips

Hong Kong shares rise; China slips

Hong Kong's benchmark index closed at a one-month high on Wednesday on optimism that the US central bank could launch a new round of monetary stimulus, although strong technical resistance capped gains for a second day this week. HSBC Holdings Plc was the
Published 21 Jun, 2012 12:00am
European shares hit a fresh month-high

European shares hit a fresh month-high

European shares closed at a fresh month-high on Wednesday, helped by a rise in bank stocks such as BBVA and Santander, as expectations of new stimulus measures from central banks supported equities. The FTSEurofirst 300 index rose 0.5 percent to 1,014.30
Published 21 Jun, 2012 12:00am
Monetary stimulus hope sends FTSE to seven-week high

Monetary stimulus hope sends FTSE to seven-week high

Expectations for more monetary stimulus sent Britain's top share index to a seven-week high on Wednesday, but investors cautioned those gains may be vulnerable if the euro zone debt crisis deepens further. Investors were beefing up their equity holdings a
Published 21 Jun, 2012 12:00am
Australian and New Zealand dollars rally pauses

Australian and New Zealand dollars rally pauses

The Australian and New Zealand dollars consolidated overnight gains on Wednesday with investors retreating to the sidelines as the outcome of an anxiously-awaited Federal Reserve policy meeting loomed. The Aussie last stood at $1.0187, within easy reach o
Published 21 Jun, 2012 12:00am
Yuan ends lower

Yuan ends lower

The yuan closed slightly lower against the dollar on Wednesday after trading well below the central bank's midpoint, with traders saying the People's Bank of China (PBOC) had set a high daily fixing for the yuan for political reasons. The PBOC on Wednesda
Published 21 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 Wednesday. 81.80-81.84 (previous 81.80-81.86). Call Money Rates: 9.50-15.00 percent (previous 9.50-15.00 percent).
Published 21 Jun, 2012 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee weakened for a third consecutive session on Wednesday to end below 56 to the dollar for the first time in June, as dollar demand from oil firms weighed, setting up the prospect of central bank intervention. The rupee is approaching a reco
Published 21 Jun, 2012 12:00am
Won leads gains in Asia

Won leads gains in Asia

The South Korean won hit its highest level in more than five weeks on Wednesday, leading gains among emerging Asian currencies as investors pondered whether the US Federal Reserve will provide further stimulus to boost the world's largest economy. Regiona
Published 21 Jun, 2012 12:00am
Sterling rises versus dollar

Sterling rises versus dollar

Sterling hit a one-month high against a softer dollar on Wednesday as perceived riskier currencies were bolstered by expectations of more easing by the US Federal Reserve. It recouped sharp losses made after the dovish minutes from the last meeting of Ban
Published 21 Jun, 2012 12:00am
Euro slips in Asia

Euro slips in Asia

The euro eased versus the dollar, but clung to much of the previous day's gains on Wednesday, with investors focusing on whether the US Federal Reserve will adopt further monetary stimulus to support the economy's recovery. The euro also gained some suppo
Published 21 Jun, 2012 12:00am
Euro growth currencies rise in London

Euro growth currencies rise in London

The euro rose against the dollar on Wednesday, along with growth-linked currencies on speculation the US Federal Reserve will adopt further monetary stimulus, although any disappointment would leave them vulnerable to a selloff. The euro also gained some
Published 21 Jun, 2012 12:00am
Euro rallies in New York

Euro rallies in New York

The euro rallied against the US dollar and Japanese yen on Tuesday, buoyed by positive news out of Greece and as a run-up in Wall Street stocks encouraged investors to take on riskier positions. Traders scrambled to cover bets against the euro as fears of
Published 21 Jun, 2012 12:00am
Early trade in New York: Dollar slips versus euro

Early trade in New York: Dollar slips versus euro

The dollar edged lower against the euro in volatile trade on Wednesday after the Federal Reserve extended its monetary stimulus to support a stalling US economic recovery. The dollar initially rallied to a session high against the euro as some investors w
Published 21 Jun, 2012 12:00am
Barnier calls for more power for EU banks watchdog

Barnier calls for more power for EU banks watchdog

The EU's top finance regulator has called for any European banking union to stretch beyond the confines of the euro zone and be policed by the EU's main financial watchdog, putting him at odds with Franco-German wishes for a bigger European Central Bank r
Published 21 Jun, 2012 12:00am
Walgreen pays $6.7 billion for Alliance Boots stake

Walgreen pays $6.7 billion for Alliance Boots stake

US drug retailer Walgreen Co is buying a 45 percent stake in European health and beauty group Alliance Boots Holdings Ltd for $6.7 billion in cash and stock, creating the world's biggest buyer of prescription drugs. The move expands Walgreen out of its US
Published 21 Jun, 2012 12:00am
Walgreen pays $6.7 billion for Alliance Boots stake

Walgreen pays $6.7 billion for Alliance Boots stake

US drug retailer Walgreen Co is buying a 45 percent stake in European health and beauty group Alliance Boots Holdings Ltd for $6.7 billion in cash and stock, creating the world's biggest buyer of prescription drugs. The move expands Walgreen out of its US
Published 21 Jun, 2012 12:00am
South Korea 'could delay $6.9 billion fighter deal'

South Korea 'could delay $6.9 billion fighter deal'

South Korea could delay awarding an eight trillion won ($6.9 billion) contract for 60 advanced fighter planes, the arms procurement agency said Wednesday after setting a new deadline for bids. The makers of Boeing's F-15 Silent Eagle, Lockheed Martin's F-
Published 21 Jun, 2012 12:00am
Up to 27 million people living in slavery: US

Up to 27 million people living in slavery: US

Up to 27 million people are living in slavery around the world, US Secretary of State Hillary Clinton estimated Tuesday as the US unveiled its annual report into human trafficking. But the report showed that as governments become more aware of the issue,
Published 21 Jun, 2012 12:00am
US launches new satellite into space

US launches new satellite into space

The US military launched an Atlas V rocket from Cape Canaveral on Wednesday carrying a top secret satellite into space, officials said. The Atlas V lifted off at 8:28 am local time (1228 GMT) with a NROL-38 payload on board for the National Reconnaissance
Published 21 Jun, 2012 12:00am
29 soldiers among 58 dead in Syria

29 soldiers among 58 dead in Syria

Twenty-nine soldiers and a Shia cleric were among 58 people killed in violence across Syria on Wednesday, the Syrian Observatory for Human Rights said. At least 20 troops died in clashes in the north-western province of Latakia, while another five were ki
Published 21 Jun, 2012 12:00am
Red Cross to pluck wounded from Homs

Red Cross to pluck wounded from Homs

Aid teams stood ready on Wednesday to enter the contested Syrian city of Homs to evacuate people trapped and wounded by 10 days of fighting between rebels and forces loyal to President Bashar al-Assad. Both sides had agreed to a temporary truce, the Inter
Published 21 Jun, 2012 12:00am
Mubarak in coma as tension spikes over successor

Mubarak in coma as tension spikes over successor

Egypt's Hosni Mubarak was Wednesday in a coma on life support at a Cairo hospital, sources said, as tension spiked over who will succeed him as president and moves by the ruling military to extend its powers. The uncertainty over the health of the ousted
Published 21 Jun, 2012 12:00am
Russia jails two for giving China nuclear secrets

Russia jails two for giving China nuclear secrets

Russia has jailed two university professors for passing top secret information on Moscow's next generation nuclear missile system to China, sentencing each of them to at least 12 years in jail, local media reported on Wednesday. Russian investigators said
Published 21 Jun, 2012 12:00am
Romania sends former Prime Minister to jail

Romania sends former Prime Minister to jail

Romania's top court confirmed on Wednesday that former Prime Minister Adrian Nastase will serve a two-year jail sentence for corruption, sending a signal the country is trying to address European Union concerns about widespread graft. The failure to tackl
Published 21 Jun, 2012 12:00am
UN experts call for greater protection for journalists

UN experts call for greater protection for journalists

An alarming number of journalists are killed each year and those responsible are rarely brought to justice, UN experts said on Wednesday. "Journalists who play a crucial role in ensuring a society that takes informed decisions, are killed at an alarming r
Published 21 Jun, 2012 12:00am
China's Ai Weiwei barred from court in tax case

China's Ai Weiwei barred from court in tax case

Dissident Chinese artist Ai Weiwei was barred from a hearing Wednesday challenging a multi-million-dollar tax order against a firm he founded, he said, accusing authorities of trying to "crush" him. Ai, an internationally acclaimed artist also renowned fo
Published 21 Jun, 2012 12:00am
French police storm bank, overpower hostage-taker

French police storm bank, overpower hostage-taker

French police shot and wounded a man claiming to be a member of al Qaeda on Wednesday after he took four hostages in a bank in the south-western city of Toulouse, prosecutor Michel Valet said. The hostage-taker, known by police to have a record of psychol
Published 21 Jun, 2012 12:00am
Suu Kyi receives Oxford doctorate

Suu Kyi receives Oxford doctorate

Hardened by decades of political struggle, Myanmar's Aung San Suu Kyi confronted emotional scars of a different kind on Wednesday when she received an honorary degree from Britain's Oxford University where she once studied and fell in love. Having spent m
Published 21 Jun, 2012 12:00am
30 militants dead in Yemen air raids

30 militants dead in Yemen air raids

Thirty suspected militants were killed as Yemeni aircraft pounded al Qaeda positions between the southern provinces of Abyan and Shabwa on Wednesday, a local official told AFP. The aircraft carried out several strikes, the mayor of Mahfed town on the outs
Published 21 Jun, 2012 12:00am
South Korean cabbies stage rare strike

South Korean cabbies stage rare strike

More than 200,000 South Korean taxi drivers staged a rare day-long nation-wide strike Wednesday for higher fares and cheaper fuel, prompting authorities to run extra bus and subway services. About 220,000 of the country's 255,500 licenced cabbies joined t
Published 21 Jun, 2012 12:00am
Mother of world's first test tube baby dies

Mother of world's first test tube baby dies

The British woman who gave birth to the world's first test tube baby has died aged 64, her family said on Wednesday. Lesley Brown made history on July 22, 1978 when her daughter Louise was born following pioneering in-vitro fertilisation (IVF) treatment.
Published 21 Jun, 2012 12:00am
Nepal launches drones to combat poachers

Nepal launches drones to combat poachers

Conservationists in Nepal are to send drone aircraft into the skies in the battle to save the Himalayan nation's endangered tigers and rhinos from poachers. WWF Nepal said it had successfully tested two unmanned "conservation drones" earlier this month in
Published 21 Jun, 2012 12:00am
New York cotton futures plummet

New York cotton futures plummet

Cotton futures closed sharply lower on Wednesday on investor liquidation as the market fell back from the one-month high it hit in the previous session as the short play in the July contract appears to have come to an end, brokers said. The spot July cott
Published 21 Jun, 2012 12:00am
Shanghai copper up

Shanghai copper up

The most-active October copper contract on the Shanghai Futures Exchange climbed 0.4 percent to close the session at 54,910 yuan ($8,600) a tonne on Wednesday, catching up with previous gains in London. "With Bernanke (Fed Chairman Ben Bernanke) speaking
Published 21 Jun, 2012 12:00am
Copper declines

Copper declines

Copper fell on Wednesday as concerns about spreading European sovereign debt troubles kept investors cautious, although hopes the Federal Reserve could offer more stimulus for the US economy helped support the outlook for demand and limit falls in base me
Published 21 Jun, 2012 12:00am
World oil plunges to 18-month low

World oil plunges to 18-month low

World oil prices tumbled more than 3 percent on Wednesday to their lowest in a year and a half, as data showed US crude inventories unexpectedly swelled and investors were disappointed at measures the Federal Reserve announced to aid the economy.
Published 21 Jun, 2012 12:00am
Tokyo rubber futures higher

Tokyo rubber futures higher

Tokyo rubber futures edged higher on Wednesday on speculative buying after prices found a strong support level of 250 yen per kg, but gains were limited as players were still cautious ahead of the Federal Reserve's decision on US rates, dealers said. The
Published 21 Jun, 2012 12:00am
Corn and soya soar

Corn and soya soar

Corn and soyabean futures hit their highest levels in a month on Tuesday as hot and dry weather in the US Midwest crop belt threatened prospects for a bumper harvest that the global grain trade is counting on to replenish inventories. Wheat followed corn
Published 21 Jun, 2012 12:00am
Palm oil climbs

Palm oil climbs

Malaysian crude palm oil futures hit their highest in almost three weeks on Wednesday, as investors bet on higher demand for palm oil after hot and dry US weather threatened to curb the soya crop available for crushing into edible oil. A 15-percent jump i
Published 21 Jun, 2012 12:00am
Coffee and cocoa down

Coffee and cocoa down

Soft commodity markets finished mixed on Wednesday, with coffee and cocoa lower and sugar higher before the US Federal Reserve said it would extend its monetary stimulus programme to help shore up the faltering economy. "We have to look at how effective (
Published 21 Jun, 2012 12:00am
Gold falls in New York

Gold falls in New York

Gold prices fell on Tuesday for the first time in eight days as buyers stayed on the sidelines ahead of a US Federal Reserve policy meeting that could signal new monetary stimulus, a move that would likely power the metal's recent rally. Spot gold was dow
Published 21 Jun, 2012 12:00am
Gold rises in Asia

Gold rises in Asia

Gold rose on Wednesday on growing hopes the US Federal Reserve may do more to stimulate the world's top economy, a move which would boost bullion's appeal as a hedge against inflation. Spot gold rose $4.09 an ounce to $1,620.69 an ounce by 0612 GMT. Gold
Published 21 Jun, 2012 12:00am
Gold tumbles in Europe

Gold tumbles in Europe

Gold fell below $1,600 an ounce on Wednesday, with investors cautious ahead of a Federal Reserve policy statement later in the day as they weighed up the prospect of the bank outlining fresh measures to stimulate US growth. Recent soft US economic data ha
Published 21 Jun, 2012 12:00am
US MIDDAY: soya rises again

US MIDDAY: soya rises again

Spot soyabean futures rose for a third straight day on Wednesday, supported by export demand for US supplies and worries about dry weather in the US Midwest threatening production prospects. "We are competitive on the world stage. That's why we are concer
Published 21 Jun, 2012 12:00am
US MIDDAY: copper down

US MIDDAY: copper down

Copper ended down on Wednesday and fell further to session lows in after-hours business, as investors were disappointed that the US Federal Reserve would not be as aggressive as many had hoped at stimulating the world's largest economy. In New York, the C
Published 21 Jun, 2012 12:00am
US MIDDAY: gold flat

US MIDDAY: gold flat

Gold slid, then cut losses, early on Wednesday after the Federal Reserve said it would extend its stimulus to a stalling US economic recovery but did not signal more aggressive monetary easing. The metal initially fell 1.5 percent on disappointment that t
Published 21 Jun, 2012 12:00am
Shaheed Benazir Bhutto: Our source of Inspiration

Shaheed Benazir Bhutto: Our source of Inspiration

Today, at a crucial juncture of the political history of Pakistan when the PPP led elected democratic has attained a landmark achievement of presenting its 5th consecutive people friendly budget, it is coincidence that we are marking 59th birthday of Shah
Published 21 Jun, 2012 12:00am
Happy birthday dear sister

Happy birthday dear sister

Live amongst people in such a manner that if you are alive they crave for your company and if you die they weep over you," are the immortal words of Hazat Ali (AS). Words that Shaheed Mohtarma Benazir Bhutto committed to her heart.
Published 21 Jun, 2012 12:00am
Byco plans to list two more firms on KSE

Byco plans to list two more firms on KSE

Byco Group plans to list two more of its companies - Byco Oil Pakistan and Byco Terminal Pakistan on Karachi Stock Exchange (KSE). Byco Oil Pakistan is the group's new refinery set up with a refining capacity of 120,000 barrels per day while Byco Terminal
Published 21 Jun, 2012 12:00am
PTCL brings free Wi-Fi modems offer for landline customers

PTCL brings free Wi-Fi modems offer for landline customers

Pakistan Telecommunication Company Limited (PTCL), the telecom giant, now brings free Wi-Fi modems for its valued customers with every new broadband connection. This incredible new offer allows PTCL landline customers to avail free Wi-Fi modem by ordering
Published 21 Jun, 2012 12:00am
PRIMUS Investments, CDC sign trust deed

PRIMUS Investments, CDC sign trust deed

Primus Investment Management Limited (PRIMUS Investments) and the Central Depository Company (CDC) on Wednesday signed a trust deed for the launching of Primus Cash Fund (PRIMUS CF). The objective of the Fund is to ensure minimum exposure to credit and in
Published 21 Jun, 2012 12:00am
PRIMUS Investments, CDC sign trust deed

PRIMUS Investments, CDC sign trust deed

Primus Investment Management Limited (PRIMUS Investments) and the Central Depository Company (CDC) on Wednesday signed a trust deed for the launching of Primus Cash Fund (PRIMUS CF). The objective of the Fund is to ensure minimum exposure to credit and in
Published 21 Jun, 2012 12:00am
'The Smart School' launched

'The Smart School' launched

The City School on Tuesday announced the launch of 'The Smart School' - a School Franchise Project based on e-learning and holistic educational development for tomorrow's generation bringing, not only progressive entrepreneurs but also futuristic educatio
Published 21 Jun, 2012 12:00am
NBP launches Cash Remittance Service from US

NBP launches Cash Remittance Service from US

National Bank of Pakistan, being one of the largest banks in Pakistan and having its offshore branches in USA, launches Cash Remittance services from United States of America. NBP has revamped home remittance services from US by offering Foree Cash and Fo
Published 21 Jun, 2012 12:00am
PSO, Parco collaborate to save $130 million annually

PSO, Parco collaborate to save $130 million annually

As part of its new vision, Pakistan State Oil (PSO) has embarked upon a strategy of domestic self-reliance by maximising fuel uplift from local refineries. This will result in multiple benefits including reduced dependency on foreign fuel imports, increas
Published 21 Jun, 2012 12:00am
Acting vice chancellor SU condoles death of Professor Afaq

Acting vice chancellor SU condoles death of Professor Afaq

The acting Vice-Chancellor of University of Sindh Dr Parveen Shah expressed deep sorrow on the sad demise of Professor Afaq Siddiqui, a noted writer and translator of verses of Shah Abdul Latif Bhitai. In a condolence statement on Wednesday Dr Parveen Sha
Published 21 Jun, 2012 12:00am
Implementation of ERP solution: LUMS partners with SAP, ExD Pakistan

Implementation of ERP solution: LUMS partners with SAP, ExD Pakistan

Lahore University of Management Sciences (LUMS) - one of the most renowned universities in Pakistan partners with SAP and ExD Pakistan - a leading enabler of better-run businesses, to implement a robust ERP solution within its campus that will foster an i
Published 21 Jun, 2012 12:00am
Bureaucracy misusing magnetisation of transport policy, PAC told

Bureaucracy misusing magnetisation of transport policy, PAC told

The Ministry of Finance and Cabinet Division on Wednesday conceded before the Public Accounts Committee (PAC) that bureaucracy has been misusing magnetisation of transport policy as they continue to use vehicles from the general pool of ministries and dra
Published 21 Jun, 2012 12:00am
Engro Foods wins 'G20 Challenge' award

Engro Foods wins 'G20 Challenge' award

The Group of 20 announced the winners of the G20 Challenge on Inclusive Business Innovation, a global competition managed by International Finance Corporation (IFC), a member of the World Bank Group. Engro Foods Limited of Pakistan was among the winners.
Published 21 Jun, 2012 12:00am
MF-CIB to open access to credit for millions: Yaseen

MF-CIB to open access to credit for millions: Yaseen

Yaseen Anwar, Governor, State Bank of Pakistan (SBP) on Wednesday said that Microfinance-exclusive Credit Information Bureau will help Microfinance Banks (MFBs) and Microfinance Institutions (MFIs) develop robust risk management system and practices, whic
Published 21 Jun, 2012 12:00am
PTA to host workshop on DNSSEC, IPv6

PTA to host workshop on DNSSEC, IPv6

For technical capacity building within community members, Pakistan Telecommunication Authority (PTA) in collaboration with Asia Pacific Network Information Center (APNIC) is hosting a three days technical training workshop on Internet Resource Management,
Published 21 Jun, 2012 12:00am
PSQCA advertises posts already occupied

PSQCA advertises posts already occupied

In an interesting move, Pakistan Standard & Quality Control Authority (PSQCA), has advertised at least 38 posts to legalise the "illegal appointments" made on political and other considerations bypassing the laid down procedures.
Published 21 Jun, 2012 12:00am
Rs 691.111 million bailout package in pipeline: Wasa MD

Rs 691.111 million bailout package in pipeline: Wasa MD

MD of Water and Sanitation Agency (Wasa) Saleemuddin has said that a bailout package amounting Rs 691.111 million is in pipeline and added that he is optimistic that the pending salaries of the staff members would be disbursed very soon. He said that he h
Published 21 Jun, 2012 12:00am
Violent power protests overshadow Prime Minister's disqualification

Violent power protests overshadow Prime Minister's disqualification

Unscheduled and prolonged power outages in twin cities of Rawalpindi and Islamabad overshadowed the disqualification of Yousaf Raza Gilani as Prime Minister by the Supreme Court. Residents of the twin cities were complaining that they were spending sleepl
Published 21 Jun, 2012 12:00am
Former minister Umeed Ali Shah passes away

Former minister Umeed Ali Shah passes away

A former provincial minister Syed Umeed Ali Shah passed away here on Wednesday after a protracted illness. An official statement here said that the deceased was the elder brother of Provincial Minister, Syed Ali Nawaz Shah Rizvi. It said that the `Namaz-i
Published 21 Jun, 2012 12:00am
NTS conducts final test of BBSYDP

NTS conducts final test of BBSYDP

National Testing Service (NTS) conducted final test of Private Sector Training, Phase IV, under Benazir Bhutto Shaheed Youth Development Programme (BBSYDP) throughout Sindh.
Published 21 Jun, 2012 12:00am
Two killed, four hurt in Karachi violence

Two killed, four hurt in Karachi violence

At least two persons, including a homeopathic doctor, were killed in separate incidents of violence in the Sindh metropolis on Wednesday. Four persons, including a political activist, were reportedly injured in various parts of the city. According to poli
Published 21 Jun, 2012 12:00am
Government fails to rehabilitate all old waterways: report

Government fails to rehabilitate all old waterways: report

Civil Society Flood Situation Report issued by Peoples Accountability Commissions on Floods (PACF) a forum of flood affected communities and volunteers here on Wednesday said that the government has completely failed in rehabilitation all the old waterway
Published 21 Jun, 2012 12:00am
USAID to assist in live stock, horticulture

USAID to assist in live stock, horticulture

The Regional Program Manager of United States Agency International Development (USAID) Nazir Ahmed Essani said that USAID under agribusiness project want to assist Pakistan in live stock and horticulture value chain to increase the rate of trade on nation
Published 21 Jun, 2012 12:00am
LEAs arrest about three dozen suspects

LEAs arrest about three dozen suspects

Law Enforcement Agencies (LEAs) on Wednesday arrested around three dozens suspects including close aide of notorious gangster Taj Muhammad alias Taju during targeted operations in different areas of the metropolis. According to SP Noman Siddiqui, the firs
Published 21 Jun, 2012 12:00am
SSGCL tells TMA members it will help them

SSGCL tells TMA members it will help them

Issues pertaining to over billing and disconnections faced by members of Towel Manufacturers Association were raised with the Sui Southern Gas Co Ltd (SSGCL) officials at a meeting held here on Tuesday. SSGCL officials assured TMA members of resolving the
Published 21 Jun, 2012 12:00am
Five die in accidents in Karachi

Five die in accidents in Karachi

At least five persons on Wednesday lost their lives in separate mishaps in the metropolis here on Wednesday. According to police and rescue sources, at least two drowned bodies were recovered from Darakshan and Ibrahim Hyderi police remits. A two-day old
Published 21 Jun, 2012 12:00am
Summit Bank to issue convertible preference shares

Summit Bank to issue convertible preference shares

The board of directors of Summit Bank Limited has decided to issue convertible preference shares having the face value of Rs 10 each to the shareholders. The bank's board of directors in its meeting held here on Wednesday decided to issue convertible pref
Published 21 Jun, 2012 12:00am
Summit Bank to issue convertible preference shares

Summit Bank to issue convertible preference shares

The board of directors of Summit Bank Limited has decided to issue convertible preference shares having the face value of Rs 10 each to the shareholders. The bank's board of directors in its meeting held here on Wednesday decided to issue convertible pref
Published 21 Jun, 2012 12:00am
Bank AL Habib ratings maintained at "AA+, Al+"

Bank AL Habib ratings maintained at "AA+, Al+"

The Pakistan Credit Rating Agency (Pacra) has maintained long-term and short-term entity ratings of Bank AL Habib Limited (BAHL) at "AA+ (Double A Plus) and Al+" (A One Plus), respectively. The ratings of two listed, unsecured subordinated TFCs issues of
Published 21 Jun, 2012 12:00am
Bank AL Habib ratings maintained at "AA+, Al+"

Bank AL Habib ratings maintained at "AA+, Al+"

The Pakistan Credit Rating Agency (Pacra) has maintained long-term and short-term entity ratings of Bank AL Habib Limited (BAHL) at "AA+ (Double A Plus) and Al+" (A One Plus), respectively. The ratings of two listed, unsecured subordinated TFCs issues of
Published 21 Jun, 2012 12:00am
Two cops injured in Sui firing

Two cops injured in Sui firing

Two personnel of a law enforcement agency were injured in firing incident in Sui area of Dera Bugti district on Wednesday. According to Levies Force sources, LEA personnel was on daily routine patrolling when unknown gunmen riding a motorbike opened fire
Published 21 Jun, 2012 12:00am
Southern Punjab, Sindh: mango season bound to help boost economies

Southern Punjab, Sindh: mango season bound to help boost economies

Although the prospects for Pakistani mangoes selling in world market appear good, chances of mango exports to United States continue to remain dim as a result of strict phyto-sanitary conditions imposed by United States Department of Agriculture (USDA) an
Published 21 Jun, 2012 12:00am
Afghan refugees: UNHCR asks world community to share burden

Afghan refugees: UNHCR asks world community to share burden

UNHCR Balochistan head Tayyiba Sharif said on Wednesday that Pakistan has been housing largest group of refugees with longest time in the history of the UN. It is high time for the world community to sharing additional burden help Pakistan overcome the is
Published 21 Jun, 2012 12:00am
LHC urged to declare fiscal year 2013 budget illegal

LHC urged to declare fiscal year 2013 budget illegal

An application filed in the Lahore High Court has urged the court to declare all the actions taken by former Prime Minister Syed Yousuf Raza Gilani after his conviction on April 26, 2012 as illegal and without lawful authority. The petitioner, Azhar Siddi
Published 21 Jun, 2012 12:00am
LHC urged to declare fiscal year 2013 budget illegal

LHC urged to declare fiscal year 2013 budget illegal

An application filed in the Lahore High Court has urged the court to declare all the actions taken by former Prime Minister Syed Yousuf Raza Gilani after his conviction on April 26, 2012 as illegal and without lawful authority. The petitioner, Azhar Siddi
Published 21 Jun, 2012 12:00am
LHC urged to declare fiscal year 2013 budget illegal

LHC urged to declare fiscal year 2013 budget illegal

An application filed in the Lahore High Court has urged the court to declare all the actions taken by former Prime Minister Syed Yousuf Raza Gilani after his conviction on April 26, 2012 as illegal and without lawful authority. The petitioner, Azhar Siddi
Published 21 Jun, 2012 12:00am
AJK's Rs 49.59 billion budget announced

AJK's Rs 49.59 billion budget announced

The Azad Jammu and Kashmir government on Wednesday announced a Rs 49.59 billion revenue-oriented tax-free budget for the next fiscal (2012-13), with expenditures totalling around Rs 40,050 million and a deficit of Rs 5,100 million. The budget was announce
Published 21 Jun, 2012 12:00am
AJK's Rs 49.59 billion budget announced

AJK's Rs 49.59 billion budget announced

The Azad Jammu and Kashmir government on Wednesday announced a Rs 49.59 billion revenue-oriented tax-free budget for the next fiscal (2012-13), with expenditures totalling around Rs 40,050 million and a deficit of Rs 5,100 million. The budget was announce
Published 21 Jun, 2012 12:00am
Imran demands early election

Imran demands early election

Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan on Wednesday demanded early elections to steer the country out of current political crisis. Addressing a press conference, Imran said the Supreme Court of Pakistan gave a historic verdict against the ruli
Published 21 Jun, 2012 12:00am
Key political risks to watch

Key political risks to watch

The Supreme Court's ruling that the current prime minister is ineligible for office is a blow to the ruling party, but unlikely to cause a constitutional breakdown. Any challenge to the court ruling by the PPP could further widen a rift between the Suprem
Published 21 Jun, 2012 12:00am
Their nameplates are still there

Their nameplates are still there

Top bureaucracy appears reluctant to remove nameplates of former ministers displayed outside offices in ministries because they are expected to be reinstated by Friday when the new Prime Minister will be elected. Officially, Cabinet Division on Wednesday
Published 21 Jun, 2012 12:00am
Seven-member Supreme Court bench didn't disqualify Gilani, claims Aitzaz

Seven-member Supreme Court bench didn't disqualify Gilani, claims Aitzaz

Aitzaz Ahsan on Wednesday said the government decision not to file a review petition in a contempt of court verdict against Syed Yousaf Raza Gilani could not be called a mistake. Talking to journalists outside Supreme Court building, Aitzaz Ahsan, who was
Published 21 Jun, 2012 12:00am
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