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Print - 2012-07-24
PSM dealers refuse to procure steel products: talks collapse

PSM dealers refuse to procure steel products: talks collapse

Talks between Pakistan Steel Mills (PSM) management and dealers have failed as the management is reluctant to assure the dealers of withdrawal of National Accountability Bureau (NAB) notices. The PSM has also faced an estimated loss of Rs 2 billion on acc
Published 24 Jul, 2012 12:00am
Abbasi moves LHC against ephedrine scandal probe

Abbasi moves LHC against ephedrine scandal probe

Pakistan Muslim League-Nawaz MNA Hanif Abbasi on Monday filed a petition in the Lahore High Court's Rawalpindi bench, challenging the investigation against him in the ephedrine scam. Issuing notice to the Anti-Narcotics Force (ANF), the court has sought t
Published 24 Jul, 2012 12:00am
Oil consumption declined by three percent in fiscal year 2012

Oil consumption declined by three percent in fiscal year 2012

Despite energy shortfall, country's oil consumption declined by 3 percent in FY12 to 19.1 million tons as against 19.7 million tons recorded in FY11. "This is the 2nd consecutive year that oil consumption has posted a decline", analysts said. The reductio
Published 24 Jul, 2012 12:00am
Used cars' import inflicts Rs 14 billion loss in 12 months

Used cars' import inflicts Rs 14 billion loss in 12 months

The government suffered a loss of over Rs 14 billion in the past 12 months in the shape of custom duty by allowing import of used cars under special regime (SRO 577), as over 50,000 vehicles have been shipped into Pakistan during this period, according to
Published 24 Jul, 2012 12:00am
Rehman Malik calls on Sindh chief minister

Rehman Malik calls on Sindh chief minister

Federal Advisor for Interior Rehman Malik on Monday called on Chief Minister Sindh Syed Qaim Ali Shah at Chief Minister House. The Chief Minister Sindh congratulated Rehman Malik on his re-election as Senator un-opposed and termed it success of Pakistan P
Published 24 Jul, 2012 12:00am
Traders voice concern over increasing extortion incidents

Traders voice concern over increasing extortion incidents

The traders, while showing grave concern over the increasing number of extortion activities, incidents of robbery, target killing and traders' abduction all over the country, have said that police have failed to provide security to the business community.
Published 24 Jul, 2012 12:00am
Meeting energy requirements: President for harnessing natural resources

Meeting energy requirements: President for harnessing natural resources

President Asif Ali Zardari while highlighting the impacts of present energy crisis said that the huge natural resources needed to be explored and harnessed to meet the energy requirements of the country. President Asif Ali Zardari on Monday chaired a brie
Published 24 Jul, 2012 12:00am
President for expediting work on ongoing schemes in Lyari

President for expediting work on ongoing schemes in Lyari

President Asif Ali Zardari on Monday called for expediting the pace of developmental work on various ongoing schemes in Lyari and in other parts of Karachi to provide maximum possible facilities to the people. This he said while chairing a briefing on Lya
Published 24 Jul, 2012 12:00am
Five gunned down in different areas of Karachi

Five gunned down in different areas of Karachi

At least five persons were killed in separate incidents of violence in the metropolis here on Monday. According to police and rescue sources, a bullet-riddled body of a cop was recovered from Mirza Adam Khan Road, Lyari in the limits of Garden police stat
Published 24 Jul, 2012 12:00am
566 rescuers begin training

566 rescuers begin training

After the establishment of the Punjab Emergency Service (Rescue 1122) in all the 36 districts of the province of Punjab, Rescue 1122 is all set to be functional at tehsil levels across the province under its expansion project. Training of as many as 566 n
Published 24 Jul, 2012 12:00am
Government a staunch supporter of freedom of media: Prime Minister

Government a staunch supporter of freedom of media: Prime Minister

The present democratic government is staunch supporter of freedom of media, therefore, it scrapped the draconian laws introduced in the past to stifle the freedom of media. Prime Minister Raja Pervez Ashraf said this during a presentation by the Ministry
Published 24 Jul, 2012 12:00am
MNAs call on Prime Minister

MNAs call on Prime Minister

MNAs, Lal Muhammad, Khanzada Khan, Ayatullah Durrani, Malik Nawab Sher Waseer and Ms Fauzia Habib called on Prime Minister Raja Pervez Ashraf here on Monday. They apprised the Prime Minister about the issues pertaining to their respective constituencies a
Published 24 Jul, 2012 12:00am
Shell Pakistan Limited

Shell Pakistan Limited

Shell Pakistan is one of the oldest multinational companies in Pakistan and the history of the company in Indo-Pak subcontinent dates back to 1903 when Shell Transport and Trading Company and Royal Dutch Petroleum Company decided to merge and supply petro
Published 24 Jul, 2012 12:00am
Shell Pakistan Limited

Shell Pakistan Limited

Shell Pakistan is one of the oldest multinational companies in Pakistan and the history of the company in Indo-Pak subcontinent dates back to 1903 when Shell Transport and Trading Company and Royal Dutch Petroleum Company decided to merge and supply petro
Published 24 Jul, 2012 12:00am
Thousands flee violence in India's Assam

Thousands flee violence in India's Assam

Thousands of people have fled their homes in India's north-eastern Assam state after fighting between indigenous tribes and Muslim settlers killed at least 19 people, wounded many more, and left villages in flames, police said on Monday. Police were force
Published 24 Jul, 2012 12:00am
China''s CNOOC to buy Canada''s Nexen for $15.1 billion

China''s CNOOC to buy Canada''s Nexen for $15.1 billion

State-controlled CNOOC Ltd launched one of China''s richest take-over bids yet on Monday by agreeing to buy Canadian oil producer Nexen Inc for $15.1 billion, forcing Ottawa to decide whether national security concerns outweigh its desire for foreign inve
Published 24 Jul, 2012 12:00am
China's CNOOC to buy Canada's Nexen for $15.1 billion

China's CNOOC to buy Canada's Nexen for $15.1 billion

State-controlled CNOOC Ltd launched one of China's richest take-over bids yet on Monday by agreeing to buy Canadian oil producer Nexen Inc for $15.1 billion, forcing Ottawa to decide whether national security concerns outweigh its desire for foreign inves
Published 24 Jul, 2012 12:00am
China's CNOOC to buy Canada's Nexen for $15.1 billion

China's CNOOC to buy Canada's Nexen for $15.1 billion

State-controlled CNOOC Ltd launched one of China's richest take-over bids yet on Monday by agreeing to buy Canadian oil producer Nexen Inc for $15.1 billion, forcing Ottawa to decide whether national security concerns outweigh its desire for foreign inves
Published 24 Jul, 2012 12:00am
Iran to provide cheap dollars to import priority goods

Iran to provide cheap dollars to import priority goods

Iran will allocate up to $30 billion at a low official exchange rate for the import of basic goods such as meat and medicine, the semi-official Fars news agency quoted a trade official as saying on Monday. Iranian media reported on Saturday that the gover
Published 24 Jul, 2012 12:00am
Iran to provide cheap dollars to import priority goods

Iran to provide cheap dollars to import priority goods

Iran will allocate up to $30 billion at a low official exchange rate for the import of basic goods such as meat and medicine, the semi-official Fars news agency quoted a trade official as saying on Monday. Iranian media reported on Saturday that the gover
Published 24 Jul, 2012 12:00am
Iran to provide cheap dollars to import priority goods

Iran to provide cheap dollars to import priority goods

Iran will allocate up to $30 billion at a low official exchange rate for the import of basic goods such as meat and medicine, the semi-official Fars news agency quoted a trade official as saying on Monday. Iranian media reported on Saturday that the gover
Published 24 Jul, 2012 12:00am
The Weather

The Weather

The weather report on Monday (July 23, 2012) and the forecast for Tuesday (July 24, 2012).

Published 24 Jul, 2012 12:00am
Pakistan starts to speed up wheat sales

Pakistan starts to speed up wheat sales

About 40,000 tonnes of Pakistani wheat has been sold in the last two weeks to buyers in countries including Indonesia, Malaysia and East Africa, traders said on Monday. The deals show Pakistan is starting to speed up wheat sales following a slow start to
Published 24 Jul, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
Pakistan starts to speed up wheat sales

Pakistan starts to speed up wheat sales

About 40,000 tonnes of Pakistani wheat has been sold in the last two weeks to buyers in countries including Indonesia, Malaysia and East Africa, traders said on Monday. The deals show Pakistan is starting to speed up wheat sales following a slow start to
Published 24 Jul, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
Pakistan starts to speed up wheat sales

Pakistan starts to speed up wheat sales

About 40,000 tonnes of Pakistani wheat has been sold in the last two weeks to buyers in countries including Indonesia, Malaysia and East Africa, traders said on Monday. The deals show Pakistan is starting to speed up wheat sales following a slow start to
Published 24 Jul, 2012 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 24 Jul, 2012 12:00am
Pakistan allowed to take part in London Olympics

Pakistan allowed to take part in London Olympics

Despite differences between Pakistan Olympic Association (POA) and Pakistan Sports Board (PSB) over implementation of national sports policy, International Olympic Committee (IOC) has allowed Pakistan to participate in the London Olympics. "Different team
Published 24 Jul, 2012 12:00am
LME official prices

LME official prices

The following were Friday official prices.

Published 24 Jul, 2012 12:00am
Pakistan allowed to take part in London Olympics

Pakistan allowed to take part in London Olympics

Despite differences between Pakistan Olympic Association (POA) and Pakistan Sports Board (PSB) over implementation of national sports policy, International Olympic Committee (IOC) has allowed Pakistan to participate in the London Olympics. "Different team
Published 24 Jul, 2012 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
JIT formed to investigate passport scandal

JIT formed to investigate passport scandal

The Interior Ministry on Monday constituted a Joint Investigation Team (JIT) to conduct probe into the fake passport scandal. The JIT will comprise officials from Inter-Services Intelligence (ISI), Federal Investigation Agency (FIA) and Intelligence Burea
Published 24 Jul, 2012 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Monday (July 23, 2012) and for Tuesday (July 24, 2012).
Published 24 Jul, 2012 12:00am
JIT formed to investigate passport scandal

JIT formed to investigate passport scandal

The Interior Ministry on Monday constituted a Joint Investigation Team (JIT) to conduct probe into the fake passport scandal. The JIT will comprise officials from Inter-Services Intelligence (ISI), Federal Investigation Agency (FIA) and Intelligence Burea
Published 24 Jul, 2012 12:00am
Arsalan, Khalil, Riaz's son-in-law fail to appear before JIT

Arsalan, Khalil, Riaz's son-in-law fail to appear before JIT

Arslan Iftikhar Chaudhry, who was asked by National Accountability Bureau (NAB) to make personal appearance on Monday to record his statement, failed to appear before the Joint Investigation Team. Notice under section 19 has been issued to him for appeara
Published 24 Jul, 2012 12:00am
Arsalan, Khalil, Riaz's son-in-law fail to appear before JIT

Arsalan, Khalil, Riaz's son-in-law fail to appear before JIT

Arslan Iftikhar Chaudhry, who was asked by National Accountability Bureau (NAB) to make personal appearance on Monday to record his statement, failed to appear before the Joint Investigation Team. Notice under section 19 has been issued to him for appeara
Published 24 Jul, 2012 12:00am
Two injured in bomb attack near Chinese Consulate

Two injured in bomb attack near Chinese Consulate

At least two persons 'including a Ranger' received injuries when a powerful bomb planted in a motorcycle went off near Chinese Consulate in the limits of Boat Basin police station. According to SHO Boat Basin, Zulfiqar, the incident took place in the park
Published 24 Jul, 2012 12:00am
Two injured in bomb attack near Chinese Consulate

Two injured in bomb attack near Chinese Consulate

At least two persons 'including a Ranger' received injuries when a powerful bomb planted in a motorcycle went off near Chinese Consulate in the limits of Boat Basin police station. According to SHO Boat Basin, Zulfiqar, the incident took place in the park
Published 24 Jul, 2012 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
Huge crowds pay last respects to Bangladesh writer

Huge crowds pay last respects to Bangladesh writer

Hundreds of thousands of Bangladeshis turned out Monday at a university in Dhaka to pay their final tributes to the country's most popular fiction writer, Humayun Ahmed, who died last week. Ahmed, also the country's top film director and TV drama-maker, d
Published 24 Jul, 2012 12:00am
Four dead as Spanish wildfire rages out of control

Four dead as Spanish wildfire rages out of control

Hundreds of fire-fighters, backed by water-bombing planes, battled a wind-fuelled wildfire in north-east Spain Monday that left four French nationals dead and trapped thousands of people indoors. The blaze claimed its fourth life Monday when a 64-year-old
Published 24 Jul, 2012 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
Death toll from China rain, flash floods reaches 95

Death toll from China rain, flash floods reaches 95

A total of 95 people have died in the extreme rain storms and flash floods that have ravaged China since July 20, the Ministry of Civil Affairs announced on Monday. Another 45 people were reported missing across the country. The official death toll for th
Published 24 Jul, 2012 12:00am
Six found guilty in UK insider dealing ring

Six found guilty in UK insider dealing ring

Six people were found guilty on Monday of taking part in an insider dealing ring that netted over 700,000 pounds ($1.09 million) after the longest and most complex prosecution brought by Britain's Financial Services Authority. The six obtained confidentia
Published 24 Jul, 2012 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
ISE index gains 11.06 points

ISE index gains 11.06 points

Equities moved both ways on the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an improvement of 11.06 points as the ISE Ten Index moved from 2,913.24
Published 24 Jul, 2012 12:00am
ISE index gains 11.06 points

ISE index gains 11.06 points

Equities moved both ways on the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an improvement of 11.06 points as the ISE Ten Index moved from 2,913.24
Published 24 Jul, 2012 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
LSE index marginally improves

LSE index marginally improves

Equities on Monday moved both ways on the Lahore Stock Exchange and finally ended in negative zone amid decreased trading turnover due to lacking investors' interest. The LSE-25 index was marginally improved by 3.57 points and was closed at 3672.12 agains
Published 24 Jul, 2012 12:00am
LSE index marginally improves

LSE index marginally improves

Equities on Monday moved both ways on the Lahore Stock Exchange and finally ended in negative zone amid decreased trading turnover due to lacking investors' interest. The LSE-25 index was marginally improved by 3.57 points and was closed at 3672.12 agains
Published 24 Jul, 2012 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
Zardari felicitates Pranab Mukherjee

Zardari felicitates Pranab Mukherjee

President Asif Ali Zardari has felicitated Pranab Mukherjee on being elected as the President of Republic of India. In his felicitation message to the President (elect) of India, President Zardari warmly greeted and felicitated his Indian counterpart on h
Published 24 Jul, 2012 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
Zardari felicitates Pranab Mukherjee

Zardari felicitates Pranab Mukherjee

President Asif Ali Zardari has felicitated Pranab Mukherjee on being elected as the President of Republic of India. In his felicitation message to the President (elect) of India, President Zardari warmly greeted and felicitated his Indian counterpart on h
Published 24 Jul, 2012 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
111 killed in Iraq's deadliest day in two years

111 killed in Iraq's deadliest day in two years

A wave of attacks across Iraq on Monday killed 111 people in the country's deadliest day in two and a half years after al Qaeda warned it would mount new attacks and sought to retake territory. Officials said at least 235 people were wounded in 28 differe
Published 24 Jul, 2012 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
111 killed in Iraq's deadliest day in two years

111 killed in Iraq's deadliest day in two years

A wave of attacks across Iraq on Monday killed 111 people in the country's deadliest day in two and a half years after al Qaeda warned it would mount new attacks and sought to retake territory. Officials said at least 235 people were wounded in 28 differe
Published 24 Jul, 2012 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
New contempt law: plea for constitution of full bench rejected by CJP

New contempt law: plea for constitution of full bench rejected by CJP

Rejecting on Monday the federation's plea for constitution of a full court bench to hear a number of petitions against the recently passed Contempt of Court Act 2012, Chief Justice Iftikhar Muhammad Chaudhry observed that "constitution of a bench is the s
Published 24 Jul, 2012 12:00am
New contempt law: plea for constitution of full bench rejected by CJP

New contempt law: plea for constitution of full bench rejected by CJP

Rejecting on Monday the federation's plea for constitution of a full court bench to hear a number of petitions against the recently passed Contempt of Court Act 2012, Chief Justice Iftikhar Muhammad Chaudhry observed that "constitution of a bench is the s
Published 24 Jul, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
BRIndex30 up by 11.24 points

BRIndex30 up by 11.24 points

On Monday, BRIndex30 opened at 10,385.69. It touched an intraday high of 10,427.28 and an intraday low of 10,364.63 and closed at 10,396.93 which was 11.24 points or 0.11 percent higher than previous close. Total volume was 18,397,800, which was 66.78 per
Published 24 Jul, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
BRIndex30 up by 11.24 points

BRIndex30 up by 11.24 points

On Monday, BRIndex30 opened at 10,385.69. It touched an intraday high of 10,427.28 and an intraday low of 10,364.63 and closed at 10,396.93 which was 11.24 points or 0.11 percent higher than previous close. Total volume was 18,397,800, which was 66.78 per
Published 24 Jul, 2012 12:00am
Index loses 37.24 points

Index loses 37.24 points

The Karachi share market witnessed a negative trend with extremely low volumes on Monday. The benchmark KSE-100 index declined by 37.24 points and closed at the level of 14,527.25 points. Trading volumes at ready counter drastically declined to 27.548 mil
Published 24 Jul, 2012 12:00am
THE RUPEE: parity stays put

THE RUPEE: parity stays put

Steady trend was seen on the open market on Monday as the rupee maintained its levels versus dollar in process of trading, experts said. The rupee showed no change in terms of dollar for buying and selling at 94.65 and 94.85. The rupee stayed put also ver
Published 24 Jul, 2012 12:00am
Index loses 37.24 points

Index loses 37.24 points

The Karachi share market witnessed a negative trend with extremely low volumes on Monday. The benchmark KSE-100 index declined by 37.24 points and closed at the level of 14,527.25 points. Trading volumes at ready counter drastically declined to 27.548 mil
Published 24 Jul, 2012 12:00am
THE RUPEE: parity stays put

THE RUPEE: parity stays put

Steady trend was seen on the open market on Monday as the rupee maintained its levels versus dollar in process of trading, experts said. The rupee showed no change in terms of dollar for buying and selling at 94.65 and 94.85. The rupee stayed put also ver
Published 24 Jul, 2012 12:00am
Index loses 37.24 points

Index loses 37.24 points

The Karachi share market witnessed a negative trend with extremely low volumes on Monday. The benchmark KSE-100 index declined by 37.24 points and closed at the level of 14,527.25 points. Trading volumes at ready counter drastically declined to 27.548 mil
Published 24 Jul, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
Gas load management: government criticised for ''not'' following plan

Gas load management: government criticised for ''not'' following plan

Ministry of Petroleum, Industry sources and CNG sector officials accuse the government of not following the gas load-management plan in allocating gas to different sectors. In 2008-09 the economy faced 685 million cubic feet per day (mmcfd) gas curtailmen
Published 24 Jul, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
Gas load management: government criticised for 'not' following plan

Gas load management: government criticised for 'not' following plan

Ministry of Petroleum, Industry sources and CNG sector officials accuse the government of not following the gas load-management plan in allocating gas to different sectors. In 2008-09 the economy faced 685 million cubic feet per day (mmcfd) gas curtailmen
Published 24 Jul, 2012 12:00am
Rates of Debt Securities

Rates of Debt Securities

The following were the revised rates of debt securities on Monday (July 23, 2012).

Published 24 Jul, 2012 12:00am
Gas load management: government criticised for 'not' following plan

Gas load management: government criticised for 'not' following plan

Ministry of Petroleum, Industry sources and CNG sector officials accuse the government of not following the gas load-management plan in allocating gas to different sectors. In 2008-09 the economy faced 685 million cubic feet per day (mmcfd) gas curtailmen
Published 24 Jul, 2012 12:00am
Finance Ministry unable to settle Rs 383 billion power sector dues

Finance Ministry unable to settle Rs 383 billion power sector dues

The Finance Ministry has been unable to make any progress with respect to settlement of Rs 383 billion power sector dues against provinces, AJK, autonomous bodies and private sector, it was learnt. Sources revealed that the stalemate continued between Pep
Published 24 Jul, 2012 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 24 Jul, 2012 12:00am
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