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Print - 2012-07-26
Kallis tops in Test all-rounders' list of South Africa

Kallis tops in Test all-rounders' list of South Africa

Jacques Kallis leads the charge of South Africa's batsmen up the Reliance ICC Player Rankings for Test batsmen after his side's stunning innings and 12-run victory in the first Test match at The Oval against England. Kallis, who scored an unbeaten 182 and
Published 26 Jul, 2012 12:00am
U-19 World Cup: Pakistan team leaves for Australia

U-19 World Cup: Pakistan team leaves for Australia

Pakistan team departed to Queensland, Australia on Wednesday to participate in the ICC U-19 Cricket World Cup 2012, commencing from August 1. Pakistan had won back-to-back titles in the tournaments in 2004 and 2006 in Bangladesh and Sri Lanka. Pakistan si
Published 26 Jul, 2012 12:00am
Indonesia to sue Everton

Indonesia to sue Everton

The organisers behind Indonesia's Java Cup said Wednesday they will sue English football club Everton and Turkey's Galatasaray after the teams withdrew from the tournament. Everton said on Tuesday it was forced to abandon plans to play the pre-season tour
Published 26 Jul, 2012 12:00am
Delhi Games chief barred from opening

Delhi Games chief barred from opening

An Indian court on Wednesday barred the disgraced head of the 2010 Delhi Commonwealth Games from attending the opening of the London Olympics, saying his presence would be an "embarrassment". The ruling came after Suresh Kalmadi, who faces charges of cons
Published 26 Jul, 2012 12:00am
Olympics still special for Williams sisters

Olympics still special for Williams sisters

They may have won 21 Grand Slam singles titles between them, not counting their doubles successes together, but Venus and Serena Williams insisted Tuesday the Olympic Games were still special. Many observers have argued that sports like tennis, where winn
Published 26 Jul, 2012 12:00am
New drug test unveiled for 'most tested' Olympics

New drug test unveiled for 'most tested' Olympics

Anti-doping chiefs unveiled a new weapon in the fight against drug cheats here Wednesday as they vowed to stage the most rigorously tested Olympics in history. World Anti-Doping Agency (WADA) Director General David Howman confirmed that for the first time
Published 26 Jul, 2012 12:00am
'Big challenge' for London to match Beijing

'Big challenge' for London to match Beijing

Asia's Olympic chief said London 2012 faced a "big challenge" to match the Beijing Games as competition was due to start on Wednesday. Sheikh Ahmad Al-Fahad Al-Sabah, president of the Olympic Council of Asia, said London had a hard act to follow after Bei
Published 26 Jul, 2012 12:00am
Torch lights up Wembley Stadium

Torch lights up Wembley Stadium

The Olympic flame was held aloft at Wembley Stadium on Wednesday, two days before its marathon journey around Britain comes to an end with a starring role in the London 2012 opening ceremony. Gordon Banks, England's goalkeeper when they won the 1966 footb
Published 26 Jul, 2012 12:00am
Football kicks off London Olympics

Football kicks off London Olympics

Great Britain's women footballers kicked off 19 days of London Olympics sport on Wednesday, 130 miles away from the host city and two days before the opening ceremony. In bright sun in Cardiff, referee Kari Seitz's whistle at 4:00 pm (1500 GMT) sharp star
Published 26 Jul, 2012 12:00am
Sun-powered plane returns home after historic flight

Sun-powered plane returns home after historic flight

The Swiss sun-powered aircraft Solar Impulse landed back home in Switzerland late Tuesday after completing the final leg of its historic transcontinental flight. The high-tech aircraft was greeted by an enthusiastic crowd of supporters at Payerne airport
Published 26 Jul, 2012 12:00am
North Korean TV confirms leader Kim is married

North Korean TV confirms leader Kim is married

North Korean state media Wednesday confirmed that its new leader Kim Jong-Un is married, ending weeks of speculation about the identity of a stylish young woman seen accompanying him at official events. State television reported that Kim and his wife took
Published 26 Jul, 2012 12:00am
Romney indicts Obama over foreign policy

Romney indicts Obama over foreign policy

Republican presidential candidate Mitt Romney issued a sweeping indictment of President Barack Obama's conduct of foreign policy, including a charge that the White House sought political gain by leaking classified details of the military raid that killed
Published 26 Jul, 2012 12:00am
Former Afghan bank chief sentenced to 20 years jail

Former Afghan bank chief sentenced to 20 years jail

A former head of an Afghan government-owned bank, was sentenced to 20 years imprisonment over corruption, an official at the country's Attorney General's office told dpa Wednesday. Two of Hayatullah Dayani's colleagues at the Pashtany Bank, as well as 13
Published 26 Jul, 2012 12:00am
British boy, sneaks onto Rome flight without passport

British boy, sneaks onto Rome flight without passport

Britain's Manchester Airport launched an urgent investigation Wednesday after an 11-year-old boy managed to slip through security and fly to Rome without a passport or ticket. Liam Corcoran walked through security checks without showing any documentation
Published 26 Jul, 2012 12:00am
Canada 'spy' sold US, Australia, UK secrets

Canada 'spy' sold US, Australia, UK secrets

A Canadian naval officer arrested this year for allegedly leaking secrets may also have compromised top level Australian, British and American intelligence, a report said Wednesday. Jeffrey Delisle, a naval intelligence officer, was charged in Canada in J
Published 26 Jul, 2012 12:00am
Six dead in helicopter crash in French Alps

Six dead in helicopter crash in French Alps

Six employees of aircraft maker Eurocopter were killed when their helicopter crashed in a mountainous region of south-east France on Wednesday during a test flight, police and company officials said. The crash occurred around 1:30 pm (1130 GMT) in a steep
Published 26 Jul, 2012 12:00am
Belarus leader 'blacklisted' from Olympics

Belarus leader 'blacklisted' from Olympics

Belarus' sports-mad President Alexander Lukashenko will not be able to attend the London Olympics because of EU sanctions against his regime, the British embassy in Minsk said Wednesday. In January 2011, the European Union reinstated a travel ban against
Published 26 Jul, 2012 12:00am
Tajik forces declare ceasefire

Tajik forces declare ceasefire

Tajik government forces Wednesday declared a temporary ceasefire to allow for talks in a deadly operation to reassert government control in the south-east over militants loyal to an ex-warlord. The talks involved Tajik Defence Minister Sherali Khayrulloye
Published 26 Jul, 2012 12:00am
Army, rebels reinforce Aleppo for 'decisive' battle

Army, rebels reinforce Aleppo for 'decisive' battle

The Syrian army and rebels sent reinforcements to Aleppo on Wednesday to join the intensifying battle for the country's second city, as the United Nations pulled out half of its troubled observer mission.
Published 26 Jul, 2012 12:00am
Former Philippine leader Arroyo wins bail

Former Philippine leader Arroyo wins bail

Ex-Philippine president Gloria Arroyo walked free from eight months in detention Wednesday after a court issued a surprise ruling granting her bail, saying a vote rigging case against her was weak. Wearing a neck brace to support her spine that is weakene
Published 26 Jul, 2012 12:00am
Barclays head of remuneration steps down

Barclays head of remuneration steps down

Scandal-hit British bank Barclays on Wednesday said the head of its remuneration committee, Alison Carnwath, had resigned from the board with immediate effect for personal reasons. "With regret I have concluded that I am no longer able to devote sufficien
Published 26 Jul, 2012 12:00am
Pentagon to list honour winners to deter fraudsters

Pentagon to list honour winners to deter fraudsters

Winners of the American military's highest honours for valour are to be listed on a new Pentagon webpage in a bid to unmask fraudulent claimants, US Defence Secretary Leon Panetta said Wednesday. The Defence Department has taken the step in response to a
Published 26 Jul, 2012 12:00am
Gilani calls on President

Gilani calls on President

Former Prime Minister Syed Yousuf Raza Gilani on Wednesday called on President Asif Ali Zardari and apprised him about the sentiments of the people of South Punjab about the proposed South Punjab Province and the bye-election in NA-151 Multan.
Published 26 Jul, 2012 12:00am
IT sector highly visible in next five years

IT sector highly visible in next five years

CEO and Chairman NetSol Technologies Ltd Salim Ghauri said on Wednesday that IT industry in the next five years will be highly visible in the economy of the country. Talking to a private news channel, he said over 1000 IT companies are working with over 1
Published 26 Jul, 2012 12:00am
FC checkpost: three security men among 13 killed

FC checkpost: three security men among 13 killed

Dozens of armed militants raided a paramilitary checkpoint in north-west on Wednesday, sparking clashes that left three soldiers and at least 10 attackers dead, officials said. The area on the Afghan border - branded by Washington the most dangerous place
Published 26 Jul, 2012 12:00am
'New generation' of tech-savvy Taliban fighters

'New generation' of tech-savvy Taliban fighters

Once seen as uneducated thugs, the Taliban are producing dangerous new fighters who use the latest digital technology to plan and publicise attacks against Nato and Afghan forces, analysts say. The militants recently released a video of a June 1 attack on
Published 26 Jul, 2012 12:00am
Shanghai copper down

Shanghai copper down

The most-traded November copper contract on the Shanghai Futures Exchange closed down 1.6 percent at 53,630 yuan ($8,400) a tonne on Wednesday. Investors continued to give the euro and risk currencies a wide berth on Wednesday following a selloff in globa
Published 26 Jul, 2012 12:00am
Copper declines

Copper declines

Copper dropped to its lowest in almost a month on Wednesday before recovering with help from a stronger euro, but worries remained that a darkening debt outlook for Spain and the euro zone could hit global demand for industrial metals.
Published 26 Jul, 2012 12:00am
Brent hits $104

Brent hits $104

Crude oil futures made a strong comeback on Wednesday, with Brent closing above $104, recovering from session lows on fears that Middle East turmoil could worsen and rising hopes for more US Fed stimulus. Prices fell earlier on euro zone worries and after
Published 26 Jul, 2012 12:00am
New York cotton ends near one-month low

New York cotton ends near one-month low

Cotton futures closed down and near a one-month low on Wednesday on speculative sales spurred by a drop below a technical level, brokers said. The benchmark December cotton contract on ICE Futures US fell 1.52 cents or 2.1 percent to end at 69.51 cents pe
Published 26 Jul, 2012 12:00am
Tokyo rubber futures flat

Tokyo rubber futures flat

Tokyo rubber futures closed flat on Wednesday, staying near a 2-1/2 year low hit in the previous session, as worries about demand from the troubled euro zone and top rubber consumer China kept investors away. The key Tokyo Commodity Exchange rubber contra
Published 26 Jul, 2012 12:00am
Soya drops

Soya drops

US grain prices extended their drop from record highs on Tuesday as forecasts for rain offered soyabean crops some relief from the worst drought in half a century, triggering profit-taking from a blistering month-long rally.
Published 26 Jul, 2012 12:00am
Palm oil rebounds

Palm oil rebounds

Malaysian crude palm oil rebounded on Wednesday on bargain hunting after prices hit a five-week low earlier in the session, although gains were modest as investors remained worried that the euro zone debt crisis could hurt demand.
Published 26 Jul, 2012 12:00am
Soft commodities mixed

Soft commodities mixed

Soft commodity futures were mixed Wednesday in two-way trading, with most players skittish from the pall cast by the gloomy economic outlook over the complex. Sugar and coffee ended mixed while cocoa finished higher. "I think people are cautious all-aroun
Published 26 Jul, 2012 12:00am
Gold rises in New York

Gold rises in New York

Gold edged up on Tuesday, outperforming equities for the second day in a row as worried investors bought the precious metal as a safe haven after European Union officials predicted Greece will need more debt restructuring. Spot gold was up 0.1 percent at
Published 26 Jul, 2012 12:00am
Gold rises in Asia

Gold rises in Asia

Gold inched up on Wednesday, extending gains into a second session after poor economic data from both sides of the Atlantic helped raise hopes for further monetary stimulus measures, which would increase gold's appeal as an inflation hedge.
Published 26 Jul, 2012 12:00am
Gold rises in Europe

Gold rises in Europe

Gold rose on Wednesday as the dollar dipped to session lows against the euro and stock markets extended gains, after Spain and France said the common strategy for euro area stability included the adoption of a supervisory mechanism for banks.
Published 26 Jul, 2012 12:00am
US MIDDAY: grains rise

US MIDDAY: grains rise

US soyabean, wheat and corn futures rose on Wednesday, clawing back some of the losses from earlier in the week on renewed worries about crops in the USS Midwest hit hard by drought Soyabeans were up 2.4 percent as the market edged back toward record high
Published 26 Jul, 2012 12:00am
US MIDDAY: gold up nearly two percent

US MIDDAY: gold up nearly two percent

Gold rose nearly 2 percent on Wednesday, outperforming equities for the third day in a row as renewed talk of US and European monetary stimulus boosted the precious metal's appeal to investors seeking an inflation hedge.
Published 26 Jul, 2012 12:00am
Cement industry may renegotiate marking fee with PSQCA

Cement industry may renegotiate marking fee with PSQCA

The country's cement industry which had been reluctant to pay marking fee worth millions of rupees to Pakistan Standard and Quality Control Authority (PSQCA) is likely to renegotiate the fee with PSQCA after a court verdict in favour of the authority.
Published 26 Jul, 2012 12:00am
Mukarram Bukhari retires

Mukarram Bukhari retires

Syed Mukarram Sultan Bukhari retired from service on reaching the age of superannuation on Wednesday (25th July). He served Karachi Development Authority, City District Government Karachi and the Government of Sindh on different positions for 34 years.
Published 26 Jul, 2012 12:00am
Abraaj Capital exits from IHH Healthcare Berhad investment

Abraaj Capital exits from IHH Healthcare Berhad investment

Abraaj Capital, a leading private equity manager investing in global growth markets, announced on Wednesday the exit of its investment in IHH Healthcare Berhad (IHH) through an initial public offering (IPO) of one of the largest private healthcare provide
Published 26 Jul, 2012 12:00am
Punjab government approves two schemes

Punjab government approves two schemes

The Punjab government has approved two schemes with an estimated cost of Rs 4621 million in which an amount to Rs 4127 million has been allocated for Construction of Metro Bus Transit System along Ferozepur Road, Youhanaabad to Kalma Chowk (10 Km) Package
Published 26 Jul, 2012 12:00am
NML withdraws PAoI

NML withdraws PAoI

Nishat Mills Limited is withdrawing the public announcement of intention (PAoI) for the proposed acquisition of a 75.81 percent stake in ICI Pakistan Limited. "NML is withdrawing the PAoI as the target entity did not provide much synergies to its exiting
Published 26 Jul, 2012 12:00am
KSE to reduce subject deposit amount for Market Makers

KSE to reduce subject deposit amount for Market Makers

To encourage the members to become Market Makers in the Derivative Segment, particularly the Cash-Settled Single Stock and Stock Index Futures Markets, the Karachi Stock Exchange has decided to significantly reduce the subject deposit amount for Market Ma
Published 26 Jul, 2012 12:00am
Four rare deer recovered

Four rare deer recovered

A team of Wildlife Department recovered four deer from Karachi Cantonment Railway Station, which were brought illegally from Bahawalpur by train. Game Warden Officers Mumtaz Soomro while briefing the media here on Wednesday said that the team on secret in
Published 26 Jul, 2012 12:00am
Profit after tax of Fauji Fertiliser increases to Rs 6.459 billion

Profit after tax of Fauji Fertiliser increases to Rs 6.459 billion

The profit after tax of Fauji Fertiliser Co (FFC) has substantially increased to Rs 6.459 billion in the quarter ended June 30, 2012 as compared to Rs 4.079 billion earned in the corresponding quarter in 2011. The company's earning per share increased to
Published 26 Jul, 2012 12:00am
Profit after tax of Fauji Fertiliser increases to Rs 6.459 billion

Profit after tax of Fauji Fertiliser increases to Rs 6.459 billion

The profit after tax of Fauji Fertiliser Co (FFC) has substantially increased to Rs 6.459 billion in the quarter ended June 30, 2012 as compared to Rs 4.079 billion earned in the corresponding quarter in 2011. The company's earning per share increased to
Published 26 Jul, 2012 12:00am
Three more killed in Karachi

Three more killed in Karachi

At least three persons were killed in separate incidents of violence in the metropolis here on Wednesday. According to police and rescue sources, a 30-year-old man was shot dead in C-1 Area, Liaqautabad No 2 in the limits of Super Market police station. S
Published 26 Jul, 2012 12:00am
Jamaat-i-Islami condemns atrocities on Myanmar Muslims

Jamaat-i-Islami condemns atrocities on Myanmar Muslims

Ameer, Jamaat-i-Islami, Pakistan, Syed Munawar Hasan, has appealed to the world community, especially the Muslim rulers, to exert diplomatic pressure on the Burma government to stop its atrocities on Myanmar Muslims and protect their basic human rights.
Published 26 Jul, 2012 12:00am
Downstream Kotri: water survey

Downstream Kotri: water survey

As agreed in the Water Accord-1991, a survey for the release of water in downstream Kotri was to be conducted by Wapda to fix the quantity of water to be released in order to save the Indus Delta - the sixth largest in the world - and to meet the mandator
Published 26 Jul, 2012 12:00am
First big test for Hollande: Repairing the car industry

First big test for Hollande: Repairing the car industry

When he took office in May in the midst of an economic crisis, French President Francois Hollande predicted his grace period would be short-lived. Within two months, his prediction was borne out when the country's biggest carmaker, PSA Peugeot Citroen, an
Published 26 Jul, 2012 12:00am
VIEW POINT: Getting set for national elections

VIEW POINT: Getting set for national elections

Amid rising political tensions and chaos the only thing on course are preparations for the upcoming general elections. Former Justice Fakhruddin G. Ebrahim took oath on Monday as the new Chief of the Election Commission as a consensus candidate of all maj
Published 26 Jul, 2012 12:00am
Let 'Fakhroo Bhai' succeed

Let 'Fakhroo Bhai' succeed

Given polarisation the national politics has acquired over the last few years it's not just enough that general election should be held; it's important that it should be fair, free and transparent enough to be truly reflective of people's will. The fai
Published 26 Jul, 2012 12:00am
Power dues

Power dues

According to a Business Recorder exclusive, the Finance Ministry has been unable to make any progress in settling the outstanding power sector dues against provinces, Azad Jammu and Kashmir, autonomous bodies and the private sector. Pepco's paya
Published 26 Jul, 2012 12:00am
PAJCCI for action plan to minimise trade losses

PAJCCI for action plan to minimise trade losses

An action plan need to be urgently installed "with a positive perspective" to minimise trade losses between Pakistan and Afghanistan as the benefit is being derived by other stakeholders as per available statistics.
Published 26 Jul, 2012 12:00am
36 shopkeepers fined

36 shopkeepers fined

As many as 36 shopkeepers were fined for total amount of Rs 23700 by Revenue officers of Hyderabad on account of charging high prices other than fixed by the government from the consumers.
Published 26 Jul, 2012 12:00am
SECP holds awareness session on brokers' inspection regime

SECP holds awareness session on brokers' inspection regime

The Securities and Exchange Commission of Pakistan (SECP) arranged a session for the members of the Karachi Stock Exchange to create awareness about compliance with the key regulatory provisions of the applicable securities laws by the brokers. The compli
Published 26 Jul, 2012 12:00am
Assisting date farming, SMEs: USAID launching pilot project

Assisting date farming, SMEs: USAID launching pilot project

The US Agency for International Development (USAID) through the USAID Firms Project is launching a pilot programme to assist date farming and processing small and medium enterprises (SMEs) from Khairpur and Sukkur, Sindh. Khairpur and Sukkur are Pakistan'
Published 26 Jul, 2012 12:00am
PTCL introduces revised packages for '3G EVO Wireless Broadband'

PTCL introduces revised packages for '3G EVO Wireless Broadband'

Pakistan Telecommunication Company Limited (PTCL) has introduced revised packages for its '3G EVO Wireless Broadband', the country's most popular Broadband Wireless Internet service. The popular EVO Truly Unlimited, EVO Postpaid, EVO Max and EVO Wi-Fi Clo
Published 26 Jul, 2012 12:00am
SECP supports 2nd World Islamic Finance Summit

SECP supports 2nd World Islamic Finance Summit

The commitment of Securities and Exchange Commission of Pakistan (SECP) towards Islamic finance is cemented by its support for the second World Islamic Finance Summit (WIFS) which is due to be held on September 12-13 in Karachi. Industry leaders at the Su
Published 26 Jul, 2012 12:00am
Death sentence: no convict will be hanged, says Soomro

Death sentence: no convict will be hanged, says Soomro

The Sindh Minister for Law, Parliamentary Affairs and Prison Ayaz Soomro has categorically stated that the present government would not execute the death penalty against any prisoner in the province's jails. "No convict of death sentence will be hanged un
Published 26 Jul, 2012 12:00am
Huge cache of arms, ammunition seized

Huge cache of arms, ammunition seized

Frontier Corps on Wednesday seized huge cache of arms and ammunition during a raid carried out in the Liji Carez area, some 7 km west of Chaghi. Official sources said that on being informed, Dalbandine Rifles of Frontier Corps conducted search operation i
Published 26 Jul, 2012 12:00am
65th Independence Day celebrations: meeting held to prepare plan

65th Independence Day celebrations: meeting held to prepare plan

Modalities to celebrate 65th Pakistan Independence Day in Hyderabad division with zeal & enthusiasm were discussed in a high-level meeting presided by Divisional Commissioner Hyderabad, Ahmed Bux Narejo at Shahbaz Hall, Shahbaz Building Hyderabad on Wedne
Published 26 Jul, 2012 12:00am
Nine wind projects may add 800 megawatts power to grid by next June

Nine wind projects may add 800 megawatts power to grid by next June

Some nine wind power projects are expected to add 800 MW power on grid by June 2013. This was stated by Secretary Investment Naheed Shah Durrani at fifth Board Meeting of Sindh Board of Investment held at SBI office here on Wednesday. While giving brief o
Published 26 Jul, 2012 12:00am
Government asked to make arrangements for LNG storage

Government asked to make arrangements for LNG storage

All Pakistan Textile Mills Association (Aptma) has proposed the government to invest in setting up terminals for import of LNG storage and let the utility companies, including SNGPL and SSGC, to import gas as per their supply requirements. Talking to Busi
Published 26 Jul, 2012 12:00am
Loadshedding: Shahbaz attacks Zardari again

Loadshedding: Shahbaz attacks Zardari again

Punjab Chief Minister Muhammad Shahbaz Sharif said that worst loadshedding at the time of Sehari, Aftar and Taraveeh is reflective of criminal negligence of federal government and incompetence of Zardari gang. He said that as a result of corruption, loot
Published 26 Jul, 2012 12:00am
LCWU introduces four new courses and departments

LCWU introduces four new courses and departments

Lahore College for Women University (LCWU) introduced four new courses and departments as new session of admission will commence on Monday 30th July 2012 with the admissions of intermediate F.A/F.Sc. University has setup intermediate college to supervise
Published 26 Jul, 2012 12:00am
FIR against young doctors: police directed to complete investigation

FIR against young doctors: police directed to complete investigation

The Lahore High Court (LHC) here on Wednesday directed Gawalmandi police to complete investigation of Fahad murder case against young doctors by July 31. The court passed these directions in a petition praying to the court to quash the FIR. Earlier counse
Published 26 Jul, 2012 12:00am
Genuineness of degree: PML-N leader given last chance by LHC

Genuineness of degree: PML-N leader given last chance by LHC

The Lahore High Court Chief Justice here on Wednesday giving last opportunity to PML-N MNA, Rao Mazhar Hayat for provision of evidence about the genuineness of his degree obtained from a US university adjourned the proceedings to September 23. The court a
Published 26 Jul, 2012 12:00am
Enactment of bill by EU Parliament hailed

Enactment of bill by EU Parliament hailed

Khawaja Jalaluddin Roomi, former chairman of APBUMA and Punjab's ex-Minister for Industries has hailed the enactment of a bill by the EU Parliament giving increased market access to Pakistani exports. Talking to this scribe here on Wednesday he said that
Published 26 Jul, 2012 12:00am
SNGPL making efforts towards reducing gas losses: news item clarified

SNGPL making efforts towards reducing gas losses: news item clarified

Refer to news item published in the Daily Business Recorder Lahore on July 17, regarding 410 Mmcfd gas loss by both gas utilities companies that is sufficient to generate 2,050 MW of electricity. In this context, we would like to clarify that in sp
Published 26 Jul, 2012 12:00am
PCGA announces election schedule

PCGA announces election schedule

Pakistan Cotton Ginners Association (PCGA)'s Central Executive Committee has announced the schedule for the election 2012-13. It said election for the chairman and vice chairmen of PCGA would be held on September 14 and CEC has issued the list of eligible
Published 26 Jul, 2012 12:00am
Power pilferage detection: teams chalk out strategy

Power pilferage detection: teams chalk out strategy

Power pilferage detection teams constituted on the directives of Chief Executive Pesco has chalked out strategy against illegal connections and removal of direct hooks through out Khyber Pakhtunkhwa. In this regard a detection team in Peshawar Circle foun
Published 26 Jul, 2012 12:00am
APML criticises government for record borrowings

APML criticises government for record borrowings

All Pakistan Muslim League (APML) has expressed deep concern over the country's poor financial condition, saying in the absence of any foreign assistance the economy is on the verge of bankruptcy. Finance Secretary of APML Mansoor Moin told a delegation o
Published 26 Jul, 2012 12:00am
'We want trade not aid'

'We want trade not aid'

"We want trade not aid from United States and European countries and American Government should bridge the gap of Pak-US trust deficit through trade", said Mian Anis A Sheikh President of Multan Chamber of Commerce and Industry (MCCI). He said Pakistanis
Published 26 Jul, 2012 12:00am
British HC calls on Khar

British HC calls on Khar

British High Commissioner to Pakistan Adam Thomson called on Foreign Minister Hina Rabbani Khar here on Wednesday. The Foreign Minister and the High Commissioner discussed bilateral and regional issues of mutual interest, including the recently held Trila
Published 26 Jul, 2012 12:00am
LEAs claim to have arrested TTP member

LEAs claim to have arrested TTP member

Law Enforcement Agencies (LEAs) on Wednesday claimed to have arrested an alleged member of banned outfit Tehreek-e-Taliban Pakistan (TTP) after brief encounter at Kunwari Colony, Manghopir. According to officials, the police party on a tip-off conducted r
Published 26 Jul, 2012 12:00am
No let-up in power outages in absence of heavy rains

No let-up in power outages in absence of heavy rains

The Ministry of Water and Power sees no let up in excessive power outages during Ramazan unless heavy rains increased hydel generation, sources told this correspondent on Wednesday. The brunt of public anger, however, is clearly targeted against Prime Min
Published 26 Jul, 2012 12:00am
Gunmen abduct boy in Quetta

Gunmen abduct boy in Quetta

Unidentified armed men kidnapped a 15 year old boy from Satellite Town here on Wednesday. Police said that unknown gunmen riding in a 2-D car abducted Hafiz Mehmood, 15, from Faroqia Mosque Satellite Town and took him away to unidentified destination.
Published 26 Jul, 2012 12:00am
Standard Chartered Pakistan offers 10-year Rs 2,500 million TFC issue

Standard Chartered Pakistan offers 10-year Rs 2,500 million TFC issue

Standard Chartered Pakistan successfully closed a ten year PKR 2,500 million Unsecured Subordinated Term Finance Certificate (TFC) issue as a Sole Lead Arranger. The issue represents the largest offering in Pakistan by any financial institution in 2012. S
Published 26 Jul, 2012 12:00am
Standard Chartered Pakistan offers 10-year Rs 2,500 million TFC issue

Standard Chartered Pakistan offers 10-year Rs 2,500 million TFC issue

Standard Chartered Pakistan successfully closed a ten year PKR 2,500 million Unsecured Subordinated Term Finance Certificate (TFC) issue as a Sole Lead Arranger. The issue represents the largest offering in Pakistan by any financial institution in 2012. S
Published 26 Jul, 2012 12:00am
Pacra withdraws negative outlook of BOP's ratings

Pacra withdraws negative outlook of BOP's ratings

The negative outlook earlier assigned to Bank of Punjab (BOP) ratings has been withdrawn by Pacra. Now the assigned stable outlook captures the improvement in the bank's financial profile that would enable it to build up to fundamentals more commensurate
Published 26 Jul, 2012 12:00am
Pacra withdraws negative outlook of BOP's ratings

Pacra withdraws negative outlook of BOP's ratings

The negative outlook earlier assigned to Bank of Punjab (BOP) ratings has been withdrawn by Pacra. Now the assigned stable outlook captures the improvement in the bank's financial profile that would enable it to build up to fundamentals more commensurate
Published 26 Jul, 2012 12:00am
Weboc system at Customs House suffers from flaws

Weboc system at Customs House suffers from flaws

Towel Manufacturers' Association of Pakistan (TMA), Southern Circle has pointed out that IT operational system at the Customs House here suffered from two major flaws. In a letter sent to Federal Board of Revenue (FBR) Chairman Ali Arshad Hakeem, TMA Chai
Published 26 Jul, 2012 12:00am
Security concerns: Minibuses converted into trucks

Security concerns: Minibuses converted into trucks

The continued violence and target killing in the city have badly hit the public transport sector, as at least 20 mini buses are converted into trucks for rising insecurity, transporters said here on Wednesday. The desperate transporters said the governmen
Published 26 Jul, 2012 12:00am
Taxpayers experiencing problems in filing electronic tax returns

Taxpayers experiencing problems in filing electronic tax returns

The business community is experiencing a number of problems in filing electronic sales tax returns due for the tax period June 2012 because of system limitations. Experts pointed out the need for necessary modifications and amendments in the sales tax ret
Published 26 Jul, 2012 12:00am
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