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Print - 2012-09-02
Index surges by 11.5 percent in July-August

Index surges by 11.5 percent in July-August

The Karachi share market witnessed a bullish trend during the new fiscal year and the benchmark KSE-100 index surged by 11.5 percent during the first two months (July-August 2012) of FY 2012-13. The index increased by 1590.17 points during two month perio
Published 02 Sep, 2012 12:00am
Index surges by 11.5 percent in July-August

Index surges by 11.5 percent in July-August

The Karachi share market witnessed a bullish trend during the new fiscal year and the benchmark KSE-100 index surged by 11.5 percent during the first two months (July-August 2012) of FY 2012-13. The index increased by 1590.17 points during two month perio
Published 02 Sep, 2012 12:00am
12 Afghans, two US soldiers killed in Afghanistan

12 Afghans, two US soldiers killed in Afghanistan

Twelve Afghans died and 59 were wounded in twin suicide attacks Saturday in central Afghanistan, while two US soldiers were killed in a separate incident in Ghazni province. The Taliban claimed responsibility for the suicide bombings in Wardak province th
Published 02 Sep, 2012 12:00am
12 Afghans, two US soldiers killed in Afghanistan

12 Afghans, two US soldiers killed in Afghanistan

Twelve Afghans died and 59 were wounded in twin suicide attacks Saturday in central Afghanistan, while two US soldiers were killed in a separate incident in Ghazni province. The Taliban claimed responsibility for the suicide bombings in Wardak province th
Published 02 Sep, 2012 12:00am
Islamabad, Berlin to sign roadmap for strategic dialogue

Islamabad, Berlin to sign roadmap for strategic dialogue

Pakistan and Germany will sign a roadmap for Pakistan-Germany strategic dialogue, providing for a multi-sectoral co-operation framework between the two countries. The agreement will be signed during Foreign Minister Hina Rabbani Khar's visit to Germany on
Published 02 Sep, 2012 12:00am
Islamabad, Berlin to sign roadmap for strategic dialogue

Islamabad, Berlin to sign roadmap for strategic dialogue

Pakistan and Germany will sign a roadmap for Pakistan-Germany strategic dialogue, providing for a multi-sectoral co-operation framework between the two countries. The agreement will be signed during Foreign Minister Hina Rabbani Khar's visit to Germany on
Published 02 Sep, 2012 12:00am
Clinton to decide soon on Haqqani group blacklisting

Clinton to decide soon on Haqqani group blacklisting

US Secretary of State Hillary Clinton said Friday she will meet an obligation to decide in coming days whether the Haqqani network should be considered terrorists. US lawmakers have pressed Clinton to blacklist the group, which is blamed for grisly attack
Published 02 Sep, 2012 12:00am
Clinton to decide soon on Haqqani group blacklisting

Clinton to decide soon on Haqqani group blacklisting

US Secretary of State Hillary Clinton said Friday she will meet an obligation to decide in coming days whether the Haqqani network should be considered terrorists. US lawmakers have pressed Clinton to blacklist the group, which is blamed for grisly attack
Published 02 Sep, 2012 12:00am
US drone strike kills five militants

US drone strike kills five militants

US drones fired a barrage of missiles at a vehicle and a house in a tribal area bordering Afghanistan on Saturday, killing at least five suspected militants, Pakistani officials said. The strikes in the North Waziristan tribal area were the first since ne
Published 02 Sep, 2012 12:00am
US drone strike kills five militants

US drone strike kills five militants

US drones fired a barrage of missiles at a vehicle and a house in a tribal area bordering Afghanistan on Saturday, killing at least five suspected militants, Pakistani officials said. The strikes in the North Waziristan tribal area were the first since ne
Published 02 Sep, 2012 12:00am
ANP, PML-Q resent fuel price hike

ANP, PML-Q resent fuel price hike

Coalition partners of Pakistan People's Party (PPP), Awami National Party (ANP) and Pakistan Muslim League (PML-Q) have demanded of the government to immediately withdraw the recent increase in prices of petroleum products.
Published 02 Sep, 2012 12:00am
ANP, PML-Q resent fuel price hike

ANP, PML-Q resent fuel price hike

Coalition partners of Pakistan People's Party (PPP), Awami National Party (ANP) and Pakistan Muslim League (PML-Q) have demanded of the government to immediately withdraw the recent increase in prices of petroleum products.
Published 02 Sep, 2012 12:00am
US can work with China in Pacific: Clinton

US can work with China in Pacific: Clinton

The United States will buttress security partnerships across the Pacific as it strengthens ties with island nations, but also hopes to work more closely with China as Beijing expands its own influence in the region, US Secretary of State Hillary Clinton s
Published 02 Sep, 2012 12:00am
US can work with China in Pacific: Clinton

US can work with China in Pacific: Clinton

The United States will buttress security partnerships across the Pacific as it strengthens ties with island nations, but also hopes to work more closely with China as Beijing expands its own influence in the region, US Secretary of State Hillary Clinton s
Published 02 Sep, 2012 12:00am
China says South Asia ties 'no threat to third party'

China says South Asia ties 'no threat to third party'

Chinese Defence Minister Liang Guanglie says Beijing's increasingly close ties with South Asia are aimed at ensuring regional "security and stability" and are not intended to harm any "third party". Liang, the first Chinese defence minister to visit Sri L
Published 02 Sep, 2012 12:00am
China says South Asia ties 'no threat to third party'

China says South Asia ties 'no threat to third party'

Chinese Defence Minister Liang Guanglie says Beijing's increasingly close ties with South Asia are aimed at ensuring regional "security and stability" and are not intended to harm any "third party". Liang, the first Chinese defence minister to visit Sri L
Published 02 Sep, 2012 12:00am
Nine killed in Quetta violence

Nine killed in Quetta violence

As many as nine persons were killed and ten injured in different incidents of sectarian killing here on Saturday. Angry people staged a protest and blocked Quetta-Chaman section at Brewery Road for all sorts of traffic. They also staged demonstration in f
Published 02 Sep, 2012 12:00am
Nine killed in Quetta violence

Nine killed in Quetta violence

As many as nine persons were killed and ten injured in different incidents of sectarian killing here on Saturday. Angry people staged a protest and blocked Quetta-Chaman section at Brewery Road for all sorts of traffic. They also staged demonstration in f
Published 02 Sep, 2012 12:00am
The Weather

The Weather

The weather report on Saturday (September 01, 2012) and the forecast for Sunday (September 02, 2012).

Published 02 Sep, 2012 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (September 01, 2012).

Published 02 Sep, 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 Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Saturday (September 01, 2012).

Published 02 Sep, 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 Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
THE RUPEE: steady trend

THE RUPEE: steady trend

No change was seen on the open market on Saturday in process of easy supply of dollars, dealers said. The rupee firmly held its overnight levels in terms of dollar for buying and selling at 94.65 and 94.85, they said. The rupee shed 20 paisa versus euro f
Published 02 Sep, 2012 12:00am
THE RUPEE: steady trend

THE RUPEE: steady trend

No change was seen on the open market on Saturday in process of easy supply of dollars, dealers said. The rupee firmly held its overnight levels in terms of dollar for buying and selling at 94.65 and 94.85, they said. The rupee shed 20 paisa versus euro f
Published 02 Sep, 2012 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (September 01, 2012).

Published 02 Sep, 2012 12:00am
Oil cake market rates

Oil cake market rates

Contracts drifted lower on the forward cottonseed oilcake market on Saturday in process of trading, dealers said. The December vaida that had closed at Rs 447.50 opened with 20 paisa loss at Rs 447.30 in process of trading, they said. The January contract
Published 02 Sep, 2012 12:00am
Cotton market: spot rate raised by Rs 50 to Rs 5,750

Cotton market: spot rate raised by Rs 50 to Rs 5,750

Spot rate was raised moderately on the cotton market on Saturday in process of trading, dealers said. Official spot rate gave up weakness, was increased by Rs 50 to Rs 5750, they said. In the ready business over 8,000 bales of cotton changed hands between
Published 02 Sep, 2012 12:00am
Prices move both ways on grain market

Prices move both ways on grain market

Prices moved both ways on the wholesale grain market on Saturday in process of slow trading, dealers said. On the cereal side makai shed Rs 25 to Rs 2700-2725, barley Sindh and Mardan, however, gained Rs 100 to Rs 3600-3650, other commodity items did not
Published 02 Sep, 2012 12:00am
Argentina's wheat crop benefited from record rains

Argentina's wheat crop benefited from record rains

Argentina's 2012/13 wheat crop benefited from record rains in August although some flooding has hurt plants in key areas, the Agriculture Ministry said on Friday in its weekly crop report. Argentina is the world's No 6 wheat exporter and the top supplier
Published 02 Sep, 2012 12:00am
Wheat prices fall after Russia rules out export limits

Wheat prices fall after Russia rules out export limits

Wheat prices fell more than 1 percent on Friday to post their biggest loss in a week in reaction to month-end fund positioning, profit taking, and bearish news that Russia said it will not limit grain exports. Corn and soybeans also declined on profit-tak
Published 02 Sep, 2012 12:00am
US Midwest soya bids steady to weaker

US Midwest soya bids steady to weaker

Spot basis bids for soyabeans were mostly steady to weaker in the interior US Midwest on Friday, with values falling 15 cents at two Iowa locations as the harvest of new-crop soyabeans approached. The soya basis at an elevator in Council Bluffs, Iowa, fel
Published 02 Sep, 2012 12:00am
Germany's 2012 grains likely to rise by 6.7 percent

Germany's 2012 grains likely to rise by 6.7 percent

Germany's 2012 crop of all types of grain is likely to rise by 6.7 percent on the year to around 44.7 million tonnes, the agriculture ministry said on Friday, welcoming the forecast as a counter to tight world supply and high prices. German grain prices a
Published 02 Sep, 2012 12:00am
Port Qasim's activities

Port Qasim's activities

A cargo volume of 61,647 tonnes comprising 47,994 tonnes of import cargo and 13,880 tonnes of export cargo inclusive nil loaded & empty containers (TEUs) was handled at Port Qasim during last 24 hours on Saturday. The total import cargo of 47,994 tonnes i
Published 02 Sep, 2012 12:00am
Tanzania arabica coffee prices rise

Tanzania arabica coffee prices rise

Tanzania's arabica coffee prices rose at auction this week, taking their cue from markets in New York, as traders said on Friday they expect demand to keep prices high over the coming weeks. Tanzania mainly produces arabica coffee and grows some robusta c
Published 02 Sep, 2012 12:00am
Indian jeera falls 3 percent; chana down one percent

Indian jeera falls 3 percent; chana down one percent

Indian chick pea or chana fell more than 1 percent on Friday on improved rainfall, which would help sowing, and on poor demand in spot markets. The most-active chana contract for September delivery on the National Commodity and Derivatives Exchange (NCDEX
Published 02 Sep, 2012 12:00am
Russia rejects grain export limits as harvest outlook cut

Russia rejects grain export limits as harvest outlook cut

Russia's government, coping with a drought which has slashed grain yields by a more than a quarter, will not limit grain exports even if its exportable surplus is exhausted, Deputy Prime Minister Arkady Dvorkovich said on Friday. Markets had been bracing
Published 02 Sep, 2012 12:00am
South Korea exports fall again as global economy falters

South Korea exports fall again as global economy falters

South Korea said on Saturday exports in August set their sixth month of annual decline this year, the first evidence from an industrial powerhouse showing a sustained slump in global demand through the second month of the quarter. Exports by Asia's fourth
Published 02 Sep, 2012 12:00am
SEC charges former Stanford Group executives

SEC charges former Stanford Group executives

US securities regulators charged former officials of Stanford Group Co for their role in the demise of the brokerage and bank controlled by Ponzi-schemer Allen Stanford. Former Stanford Group Co president Daniel Bogar, former compliance officer Bernerd Yo
Published 02 Sep, 2012 12:00am
Europe must act strongly to tackle crisis: OECD

Europe must act strongly to tackle crisis: OECD

Backing bond market intervention by the European Central Bank, the OECD said on Friday that Europe must seize a "window of opportunity" offered by the relative recent calm of financial markets to tackle the simmering euro zone debt crisis. "I think it is
Published 02 Sep, 2012 12:00am
Europe must act strongly to tackle crisis: OECD

Europe must act strongly to tackle crisis: OECD

Backing bond market intervention by the European Central Bank, the OECD said on Friday that Europe must seize a "window of opportunity" offered by the relative recent calm of financial markets to tackle the simmering euro zone debt crisis. "I think it is
Published 02 Sep, 2012 12:00am
Wen says property controls still needed

Wen says property controls still needed

Premier Wen Jiabao said Saturday it was too early to loosen curbs on speculative property investment, state media reported, as authorities keep a tight grip over China's once red-hot housing sector. Wen, who was inspecting an affordable housing project sa
Published 02 Sep, 2012 12:00am
China's official PMI hits nine-month low

China's official PMI hits nine-month low

China's official factory purchasing managers' index fell to a lower-than-expected 49.2 in August from 50.1 in July, official data showed on Saturday, in a result that is likely to strengthen the case for further policy steps to bolster growth. The officia
Published 02 Sep, 2012 12:00am
Former Dow Jones president to join Time Inc

Former Dow Jones president to join Time Inc

Todd Larsen, the former president of Dow Jones & Co is expected to join Time Warner Inc's Time Inc magazine unit as president of the news and sports group, according to a source familiar with the matter. Larsen, who left Dow Jones in June after more than
Published 02 Sep, 2012 12:00am
Expert panel wants India tax avoidance rules deferred by three years

Expert panel wants India tax avoidance rules deferred by three years

A controversial set of laws to stop tax avoidance in India should be deferred until 2016, an advisory panel set up by Prime Minister Manmohan Singh to examine the rules said on Saturday, a move likely to cheer investors. The general anti-avoidance rules (
Published 02 Sep, 2012 12:00am
Lufthansa says strike cost millions, cancels flights

Lufthansa says strike cost millions, cancels flights

German airline Deutsche Lufthansa said Friday's strike by its cabin crews that brought Frankfurt airport, Germany's largest, close to a standstill cost the company millions and forced it to cancel another 19 flights on Saturday. The UFO union of the fligh
Published 02 Sep, 2012 12:00am
Japan's public pension fund hit by $26 billion investment loss

Japan's public pension fund hit by $26 billion investment loss

Japan's public pension fund, the world's largest, suffered an investment loss of $26 billion in April-June, its first loss in three quarters, as the yen's strength and falls in domestic and foreign equities hurt its quarterly performance.
Published 02 Sep, 2012 12:00am
Japan's public pension fund hit by $26 billion investment loss

Japan's public pension fund hit by $26 billion investment loss

Japan's public pension fund, the world's largest, suffered an investment loss of $26 billion in April-June, its first loss in three quarters, as the yen's strength and falls in domestic and foreign equities hurt its quarterly performance.
Published 02 Sep, 2012 12:00am
Hundreds protest Spanish health cuts targeting migrants

Hundreds protest Spanish health cuts targeting migrants

Protesters marched in Madrid Saturday against a new government measure restricting free health care for some immigrants, which has already provoked a revolt by some doctors and regional health bodies. Hundreds of people demonstrated noisily against the me
Published 02 Sep, 2012 12:00am
Coca-Cola available but expensive in North Korea

Coca-Cola available but expensive in North Korea

Coca-Cola has been available at private markets in North Korea for more than a decade even if the US soft drink maker has not opened business in the communist state, defectors from the North said Saturday. A clip featuring Coke being served in what is sai
Published 02 Sep, 2012 12:00am
Iraqi Kurdistan to keep pumping oil exports till September 15

Iraqi Kurdistan to keep pumping oil exports till September 15

Iraq's Kurdistan will keep pumping its share of national oil exports until September 15, extending a deadline for the central government to make disputed payments to companies working in the autonomous region, Kurdish sources said on Saturday.
Published 02 Sep, 2012 12:00am
Iraq's oil exports rise to 2.565 million bpd in August

Iraq's oil exports rise to 2.565 million bpd in August

Iraq's oil exports rose to 2.565 million barrels per day (bpd) on average in August, their highest level for three decades, the head of the State Oil Marketing Organisation (SOMO) told Reuters on Saturday. Iraq exported 2.516 million bpd in July. Exports
Published 02 Sep, 2012 12:00am
Hollande speeds launch of state investment bank

Hollande speeds launch of state investment bank

France will launch a public investment bank within days to help cash-strapped companies to obtain financing, President Francois Hollande said on Friday, bringing forward the date as his government speeds up efforts to fight a downturn.
Published 02 Sep, 2012 12:00am
Peru's consumer price inflation picks up pace in August

Peru's consumer price inflation picks up pace in August

Peru's consumer price index rose an unexpectedly high 0.51 percent in August from the previous month as food and energy costs drove prices higher, the government's statistics agency said on Saturday. A Reuters poll of economic analysts had forecast inflat
Published 02 Sep, 2012 12:00am
S&P cuts rating on Sharp to junk status

S&P cuts rating on Sharp to junk status

Standard & Poor's cut its credit rating on Sharp Corp to junk status Friday, following huge losses at the struggling Japanese consumer electronics giant. The global ratings agency downgraded Sharp two notches to BB+ and warned the Osaka-based firm was bes
Published 02 Sep, 2012 12:00am
S&P cuts rating on Sharp to junk status

S&P cuts rating on Sharp to junk status

Standard & Poor's cut its credit rating on Sharp Corp to junk status Friday, following huge losses at the struggling Japanese consumer electronics giant. The global ratings agency downgraded Sharp two notches to BB+ and warned the Osaka-based firm was bes
Published 02 Sep, 2012 12:00am
Bundesbank chief threatened to resign

Bundesbank chief threatened to resign

The head of the German central bank or Bundesbank has threatened to resign amid a festering fight with the European Central Bank over its anti-crisis measures, the Bild daily reported Friday. The Bundesbank declined to comment on the article.
Published 02 Sep, 2012 12:00am
2012 worst year of global crisis: Brazilian minister

2012 worst year of global crisis: Brazilian minister

The year 2012 is the worst of the global economic crisis, according to Brazilian Finance Minister Guido Mantega. "In terms of severity, what is happening in 2012 is worse than what happened in 2009," Mantega said Thursday in an address before officials, b
Published 02 Sep, 2012 12:00am
Bayer CEO says Greek euro exit may help

Bayer CEO says Greek euro exit may help

Leaving the euro zone could help Greece to recover economically and prevent the region's debt crisis from spreading, the head of German drugmaker Bayer was quoted as saying in a newspaper interview on Saturday. The comments from Bayer CEO Marijn Dekkers a
Published 02 Sep, 2012 12:00am
ECB buys zero government bonds as it readies new programme

ECB buys zero government bonds as it readies new programme

The European Central Bank kept its government bond purchase programme dormant last week as it readies the launch of a new scheme that will work in tandem with European rescue mechanisms to alleviate pressure on struggling euro zone countries.
Published 02 Sep, 2012 12:00am
ECB buys zero government bonds as it readies new programme

ECB buys zero government bonds as it readies new programme

The European Central Bank kept its government bond purchase programme dormant last week as it readies the launch of a new scheme that will work in tandem with European rescue mechanisms to alleviate pressure on struggling euro zone countries.
Published 02 Sep, 2012 12:00am
ADR report: European companies lift foreign shares

ADR report: European companies lift foreign shares

US-listed shares of foreign companies ended higher on Friday, led by gains in European stocks on hopes of further action from the European Central Bank to fight the region's debt crisis. ECB Executive Board member Benoit Coeure said ECB bond purchases in
Published 02 Sep, 2012 12:00am
Spanish cloud may mean discount for Santander Mexico listing

Spanish cloud may mean discount for Santander Mexico listing

Banco Santander will make a splash with a multi-billion-dollar float of its Mexican operation next month, although investors will probably demand a discount to hedge against its links to crisis-ridden Spain. The listing, which is due in Mexico and New Yor
Published 02 Sep, 2012 12:00am
Indian bonds yields rise

Indian bonds yields rise

Indian federal bond yields and OIS rates spiked on Friday, ending up for a third consecutive session, as hopes the central bank would cut interest rates in September were dashed by better-than-expected April-June quarter growth data. India's economy grew
Published 02 Sep, 2012 12:00am
Indian bonds yields rise

Indian bonds yields rise

Indian federal bond yields and OIS rates spiked on Friday, ending up for a third consecutive session, as hopes the central bank would cut interest rates in September were dashed by better-than-expected April-June quarter growth data. India's economy grew
Published 02 Sep, 2012 12:00am
Gold miners, Bernanke push TSX higher

Gold miners, Bernanke push TSX higher

Canadian stocks ended the week on a positive note, boosted by a speech from Federal Reserve Chairman Ben Bernanke that kept stimulus hopes alive and as the soaring price of bullion helped gold miners. Bernanke stopped short of giving a clear signal the US
Published 02 Sep, 2012 12:00am
Treasuries outlook: yields drop as Bernanke spurs new QE hopes

Treasuries outlook: yields drop as Bernanke spurs new QE hopes

US Treasury debt prices rose and yields fell to the lowest in three weeks on Friday after Federal Reserve Chairman Ben Bernanke said that still high unemployment is a "grave concern," increasing expectations that further stimulus may be likely. Bernanke s
Published 02 Sep, 2012 12:00am
Treasuries outlook: yields drop as Bernanke spurs new QE hopes

Treasuries outlook: yields drop as Bernanke spurs new QE hopes

US Treasury debt prices rose and yields fell to the lowest in three weeks on Friday after Federal Reserve Chairman Ben Bernanke said that still high unemployment is a "grave concern," increasing expectations that further stimulus may be likely. Bernanke s
Published 02 Sep, 2012 12:00am
Alon USA Partners files for IPO of up to $230 million

Alon USA Partners files for IPO of up to $230 million

Alon USA Energy Inc's limited partnership unit Alon USA Partners LP filed with US regulators to raise up to $230 million in an initial public offering of its common units. The Dallas-based company told the US Securities and Exchange Commission in a prelim
Published 02 Sep, 2012 12:00am