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Print - 2012-10-25
US sues Bank of America for $1 billion over bad mortgages

US sues Bank of America for $1 billion over bad mortgages

The United States sued Bank of America Wednesday for more than $1 billion for allegedly having sold dodgy mortgages to state-controlled mortgage financers Fannie Mae and Freddie Mac. The government charged that Countrywide - the mortgage giant now owned b
Published 25 Oct, 2012 12:00am
Brown proposes global action day for Malala

Brown proposes global action day for Malala

Britain's former Prime Minister and UN's Special Envoy for Global Education Gordon Brown has called for observing November 10 as the Global Day of Action for Malala. In an article, he said that the objective was to achieve Malala Yousafzai's aim - which e
Published 25 Oct, 2012 12:00am
Brown proposes global action day for Malala

Brown proposes global action day for Malala

Britain's former Prime Minister and UN's Special Envoy for Global Education Gordon Brown has called for observing November 10 as the Global Day of Action for Malala. In an article, he said that the objective was to achieve Malala Yousafzai's aim - which e
Published 25 Oct, 2012 12:00am
''Interferon'' scam: former DG CAMB accused of pocketing donation

''Interferon'' scam: former DG CAMB accused of pocketing donation

Irfan Nadeem, former joint secretary Ministry of Science and Technology (MoST), on Wednesday accused Dr Sheikh Riazuddin - former Director of Centre for Applied Molecular Biology (CAMB) - of pocketing $100,000, donated to the ministry by a top financial i
Published 25 Oct, 2012 12:00am
'Interferon' scam: former DG CAMB accused of pocketing donation

'Interferon' scam: former DG CAMB accused of pocketing donation

Irfan Nadeem, former joint secretary Ministry of Science and Technology (MoST), on Wednesday accused Dr Sheikh Riazuddin - former Director of Centre for Applied Molecular Biology (CAMB) - of pocketing $100,000, donated to the ministry by a top financial i
Published 25 Oct, 2012 12:00am
'Interferon' scam: former DG CAMB accused of pocketing donation

'Interferon' scam: former DG CAMB accused of pocketing donation

Irfan Nadeem, former joint secretary Ministry of Science and Technology (MoST), on Wednesday accused Dr Sheikh Riazuddin - former Director of Centre for Applied Molecular Biology (CAMB) - of pocketing $100,000, donated to the ministry by a top financial i
Published 25 Oct, 2012 12:00am
Telenor CEO sees Malaysia, Pakistan recovery in fourth quarter

Telenor CEO sees Malaysia, Pakistan recovery in fourth quarter

Mobile telecommunications firm Telenor expects its subsidiaries in Pakistan and Malaysia to improve their performance in the current quarter after relatively weak figures in the third quarter Chief Executive Jon Baksaas said on Wednesday. "DiGi (in Malays
Published 25 Oct, 2012 12:00am
Telenor CEO sees Malaysia, Pakistan recovery in fourth quarter

Telenor CEO sees Malaysia, Pakistan recovery in fourth quarter

Mobile telecommunications firm Telenor expects its subsidiaries in Pakistan and Malaysia to improve their performance in the current quarter after relatively weak figures in the third quarter Chief Executive Jon Baksaas said on Wednesday. "DiGi (in Malays
Published 25 Oct, 2012 12:00am
Telenor CEO sees Malaysia, Pakistan recovery in fourth quarter

Telenor CEO sees Malaysia, Pakistan recovery in fourth quarter

Mobile telecommunications firm Telenor expects its subsidiaries in Pakistan and Malaysia to improve their performance in the current quarter after relatively weak figures in the third quarter Chief Executive Jon Baksaas said on Wednesday. "DiGi (in Malays
Published 25 Oct, 2012 12:00am
Telenor CEO sees Malaysia, Pakistan recovery in fourth quarter

Telenor CEO sees Malaysia, Pakistan recovery in fourth quarter

Mobile telecommunications firm Telenor expects its subsidiaries in Pakistan and Malaysia to improve their performance in the current quarter after relatively weak figures in the third quarter Chief Executive Jon Baksaas said on Wednesday. "DiGi (in Malays
Published 25 Oct, 2012 12:00am
NBP profit after tax increases

NBP profit after tax increases

The profit after tax of National Bank of Pakistan (NBP) has increased to Rs 11.810 billion in the nine month period ended September 30, 2012 as compared to Rs 11.402 billion earned in the corresponding period in 2011. The board of directors of the company
Published 25 Oct, 2012 12:00am
NBP profit after tax increases

NBP profit after tax increases

The profit after tax of National Bank of Pakistan (NBP) has increased to Rs 11.810 billion in the nine month period ended September 30, 2012 as compared to Rs 11.402 billion earned in the corresponding period in 2011. The board of directors of the company
Published 25 Oct, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (October 24, 2012).

Published 25 Oct, 2012 12:00am
NBP profit after tax increases

NBP profit after tax increases

The profit after tax of National Bank of Pakistan (NBP) has increased to Rs 11.810 billion in the nine month period ended September 30, 2012 as compared to Rs 11.402 billion earned in the corresponding period in 2011. The board of directors of the company
Published 25 Oct, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (October 24, 2012).

Published 25 Oct, 2012 12:00am
NBP profit after tax increases

NBP profit after tax increases

The profit after tax of National Bank of Pakistan (NBP) has increased to Rs 11.810 billion in the nine month period ended September 30, 2012 as compared to Rs 11.402 billion earned in the corresponding period in 2011. The board of directors of the company
Published 25 Oct, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (October 24, 2012).

Published 25 Oct, 2012 12:00am
US drone strike kills three

US drone strike kills three

A US drone attack killed at least three suspected militants in restive tribal region on Wednesday, intelligence officials said. Two missiles fired from an unmanned aircraft struck a compound in the area of Tapi near Miranshah, the main town of North Wazir
Published 25 Oct, 2012 12:00am
US drone strike kills three

US drone strike kills three

A US drone attack killed at least three suspected militants in restive tribal region on Wednesday, intelligence officials said. Two missiles fired from an unmanned aircraft struck a compound in the area of Tapi near Miranshah, the main town of North Wazir
Published 25 Oct, 2012 12:00am
Reference filed against former Ogra chief, NAB tells Supreme Court

Reference filed against former Ogra chief, NAB tells Supreme Court

The National Accountability Bureau (NAB) on Wednesday informed the Supreme Court that it has filed a reference against former Chairman of the Oil and Gas Regulatory Authority (Ogra) Tauqir Sadiq and five other accused in multi-billion-rupee scams. A two-m
Published 25 Oct, 2012 12:00am
Reference filed against former Ogra chief, NAB tells Supreme Court

Reference filed against former Ogra chief, NAB tells Supreme Court

The National Accountability Bureau (NAB) on Wednesday informed the Supreme Court that it has filed a reference against former Chairman of the Oil and Gas Regulatory Authority (Ogra) Tauqir Sadiq and five other accused in multi-billion-rupee scams. A two-m
Published 25 Oct, 2012 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (October 24, 2012).

Published 25 Oct, 2012 12:00am
Reference filed against former Ogra chief, NAB tells Supreme Court

Reference filed against former Ogra chief, NAB tells Supreme Court

The National Accountability Bureau (NAB) on Wednesday informed the Supreme Court that it has filed a reference against former Chairman of the Oil and Gas Regulatory Authority (Ogra) Tauqir Sadiq and five other accused in multi-billion-rupee scams. A two-m
Published 25 Oct, 2012 12:00am
Supreme Court questions Ogra formula: SNGPL, SSGCL chiefs issued notices

Supreme Court questions Ogra formula: SNGPL, SSGCL chiefs issued notices

The Supreme Court on Wednesday questioned the formula under which Oil and Gas Regulatory Authority (Ogra) linked the price of domestic Compressed Natural Gas (CNG) with imported petrol on a weekly basis. Issuing notices to Managing Directors of Sui-Northe
Published 25 Oct, 2012 12:00am
Supreme Court questions Ogra formula: SNGPL, SSGCL chiefs issued notices

Supreme Court questions Ogra formula: SNGPL, SSGCL chiefs issued notices

The Supreme Court on Wednesday questioned the formula under which Oil and Gas Regulatory Authority (Ogra) linked the price of domestic Compressed Natural Gas (CNG) with imported petrol on a weekly basis. Issuing notices to Managing Directors of Sui-Northe
Published 25 Oct, 2012 12:00am
Supreme Court questions Ogra formula: SNGPL, SSGCL chiefs issued notices

Supreme Court questions Ogra formula: SNGPL, SSGCL chiefs issued notices

The Supreme Court on Wednesday questioned the formula under which Oil and Gas Regulatory Authority (Ogra) linked the price of domestic Compressed Natural Gas (CNG) with imported petrol on a weekly basis. Issuing notices to Managing Directors of Sui-Northe
Published 25 Oct, 2012 12:00am
FPA charges declared ''null and void''

FPA charges declared ''null and void''

The Islamabad High Court (IHC) on Wednesday declared the receipt of fuel price adjustment (FPA) charges in the electricity bills ''null and void'' and directed National Electric Power Regulatory Authority (Nepra) to adjust the charged amount in the future
Published 25 Oct, 2012 12:00am
FPA charges declared 'null and void'

FPA charges declared 'null and void'

The Islamabad High Court (IHC) on Wednesday declared the receipt of fuel price adjustment (FPA) charges in the electricity bills 'null and void' and directed National Electric Power Regulatory Authority (Nepra) to adjust the charged amount in the future b
Published 25 Oct, 2012 12:00am
FPA charges declared 'null and void'

FPA charges declared 'null and void'

The Islamabad High Court (IHC) on Wednesday declared the receipt of fuel price adjustment (FPA) charges in the electricity bills 'null and void' and directed National Electric Power Regulatory Authority (Nepra) to adjust the charged amount in the future b
Published 25 Oct, 2012 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (October 24, 2012).

Published 25 Oct, 2012 12:00am
New PIA chairman, managing director appointed

New PIA chairman, managing director appointed

The federal government on Wednesday appointed Lieutenant General Asif Yasin Malik (Retd) as new Chairman Pakistan International Airlines with immediate effect. Ministry of Defence issued notification regarding his appointment as chairman. The post of Chai
Published 25 Oct, 2012 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (October 24, 2012).
Published 25 Oct, 2012 12:00am
New PIA chairman, managing director appointed

New PIA chairman, managing director appointed

The federal government on Wednesday appointed Lieutenant General Asif Yasin Malik (Retd) as new Chairman Pakistan International Airlines with immediate effect. Ministry of Defence issued notification regarding his appointment as chairman. The post of Chai
Published 25 Oct, 2012 12:00am
New PIA chairman, managing director appointed

New PIA chairman, managing director appointed

The federal government on Wednesday appointed Lieutenant General Asif Yasin Malik (Retd) as new Chairman Pakistan International Airlines with immediate effect. Ministry of Defence issued notification regarding his appointment as chairman. The post of Chai
Published 25 Oct, 2012 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Wednesday (October 24, 2012).

Published 25 Oct, 2012 12:00am
Guarantee for PIA loan: Naek, Nargis opposed to ECC decision

Guarantee for PIA loan: Naek, Nargis opposed to ECC decision

Minister of Law and Justice, Farooq H Naek and Secretary Water and Water Power, Nargis Sethi were reportedly against the Economic Co-ordinator Committee (ECC) approving a government guarantee for a fresh loan of Rs 9.36 billion for Pakistan International
Published 25 Oct, 2012 12:00am
Guarantee for PIA loan: Naek, Nargis opposed to ECC decision

Guarantee for PIA loan: Naek, Nargis opposed to ECC decision

Minister of Law and Justice, Farooq H Naek and Secretary Water and Water Power, Nargis Sethi were reportedly against the Economic Co-ordinator Committee (ECC) approving a government guarantee for a fresh loan of Rs 9.36 billion for Pakistan International
Published 25 Oct, 2012 12:00am
Guarantee for PIA loan: Naek, Nargis opposed to ECC decision

Guarantee for PIA loan: Naek, Nargis opposed to ECC decision

Minister of Law and Justice, Farooq H Naek and Secretary Water and Water Power, Nargis Sethi were reportedly against the Economic Co-ordinator Committee (ECC) approving a government guarantee for a fresh loan of Rs 9.36 billion for Pakistan International
Published 25 Oct, 2012 12:00am
BRIndex30 down by 14.68 points

BRIndex30 down by 14.68 points

On Wednesday, BRIndex30 opened at 10,807.90. It touched an intraday high of 10,843.65 and an intraday low of 10,777.64 and closed at 10,793.22 which was -14.68 points or -0.14 percent lower than previous close. Total volume was 104,079,500, which was 72.4
Published 25 Oct, 2012 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Wednesday (October 24, 2012).

Published 25 Oct, 2012 12:00am
BRIndex30 down by 14.68 points

BRIndex30 down by 14.68 points

On Wednesday, BRIndex30 opened at 10,807.90. It touched an intraday high of 10,843.65 and an intraday low of 10,777.64 and closed at 10,793.22 which was -14.68 points or -0.14 percent lower than previous close. Total volume was 104,079,500, which was 72.4
Published 25 Oct, 2012 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Wednesday (October 24, 2012).

Published 25 Oct, 2012 12:00am
Index at fresh highest-ever level; 11.69-point net gain

Index at fresh highest-ever level; 11.69-point net gain

Positive trend continued on the Karachi share market on Wednesday and the benchmark KSE-100 index closed at fresh highest ever level of 15,865.53 points with a net gain of 11.69 points. The market opened on positive note and the index hit 15,908.93 points
Published 25 Oct, 2012 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (October 24, 2012).

Published 25 Oct, 2012 12:00am
Index at fresh highest-ever level; 11.69-point net gain

Index at fresh highest-ever level; 11.69-point net gain

Positive trend continued on the Karachi share market on Wednesday and the benchmark KSE-100 index closed at fresh highest ever level of 15,865.53 points with a net gain of 11.69 points. The market opened on positive note and the index hit 15,908.93 points
Published 25 Oct, 2012 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 25 Oct, 2012 12:00am
Index at fresh highest-ever level; 11.69-point net gain

Index at fresh highest-ever level; 11.69-point net gain

Positive trend continued on the Karachi share market on Wednesday and the benchmark KSE-100 index closed at fresh highest ever level of 15,865.53 points with a net gain of 11.69 points. The market opened on positive note and the index hit 15,908.93 points
Published 25 Oct, 2012 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 25 Oct, 2012 12:00am
Draghi defends bond-buying plan in lion''''s den

Draghi defends bond-buying plan in lion''''s den

European Central Bank President Mario Draghi gave a robust defence of his bond-buying plan to ease the euro zone debt crisis, telling sceptical German lawmakers that fears of illegal funding of governments or stoking inflation were misplaced. Draghi emerg
Published 25 Oct, 2012 12:00am
Draghi defends bond-buying plan in lion''s den

Draghi defends bond-buying plan in lion''s den

European Central Bank President Mario Draghi gave a robust defence of his bond-buying plan to ease the euro zone debt crisis, telling sceptical German lawmakers that fears of illegal funding of governments or stoking inflation were misplaced. Draghi emerg
Published 25 Oct, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 25 Oct, 2012 12:00am
Draghi defends bond-buying plan in lion's den

Draghi defends bond-buying plan in lion's den

European Central Bank President Mario Draghi gave a robust defence of his bond-buying plan to ease the euro zone debt crisis, telling sceptical German lawmakers that fears of illegal funding of governments or stoking inflation were misplaced. Draghi emerg
Published 25 Oct, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 25 Oct, 2012 12:00am
Draghi defends bond-buying plan in lion's den

Draghi defends bond-buying plan in lion's den

European Central Bank President Mario Draghi gave a robust defence of his bond-buying plan to ease the euro zone debt crisis, telling sceptical German lawmakers that fears of illegal funding of governments or stoking inflation were misplaced. Draghi emerg
Published 25 Oct, 2012 12:00am
Euro woes deepen, China, US improve

Euro woes deepen, China, US improve

Eurozone businesses suffered another dismal month in October, suggesting the economy may be headed for a deeper recession than expected, but conditions improved slightly for US and Chinese manufacturers. In Europe, a slump that began with a debt crisis in
Published 25 Oct, 2012 12:00am
Kashmir Issue: PPP's Top Agenda

Kashmir Issue: PPP's Top Agenda

A book titled "Valley of Kashmir" by a British Civil servant Sir Walter Lawrence, published somewhere in 1890s, describes the beauty of the state Kashmir as "an emerald set in pearls, a land of lakes, clear streams, green turf, magnificent trees and might
Published 25 Oct, 2012 12:00am
Euro woes deepen, China, US improve

Euro woes deepen, China, US improve

Eurozone businesses suffered another dismal month in October, suggesting the economy may be headed for a deeper recession than expected, but conditions improved slightly for US and Chinese manufacturers. In Europe, a slump that began with a debt crisis in
Published 25 Oct, 2012 12:00am
Message from Minister of Information, Azad Jammu and Kashmir

Message from Minister of Information, Azad Jammu and Kashmir

It is red-letter day for all of us, an occasion to celebrate and reiterate our pledge to carry on our struggle until the freedom of Jammu and Kashmir. From the days of Dogra Raj to this day the Kashmiri have proved they are freedom lovers and will never b
Published 25 Oct, 2012 12:00am
Euro woes deepen, China, US improve

Euro woes deepen, China, US improve

Eurozone businesses suffered another dismal month in October, suggesting the economy may be headed for a deeper recession than expected, but conditions improved slightly for US and Chinese manufacturers. In Europe, a slump that began with a debt crisis in
Published 25 Oct, 2012 12:00am
Message from Prime Minister, Azad Jammu and Kashmir

Message from Prime Minister, Azad Jammu and Kashmir

The 65th Foundation Day of the Government and the State of Azad Jammu and Kashmir is being celebrated by all the Kashmir and Pakistani people with all enthusiasm and nationalism. At this occasion, I offer my heartiest congratulations and applause to the w
Published 25 Oct, 2012 12:00am
Energy woes: US says committed to helping Pakistan

Energy woes: US says committed to helping Pakistan

The US on Wednesday said that it was committed to helping Pakistan overcome its acute energy crisis. Richard E. Hoagland, Charge d'' affaires, made these remarks in a letter on US-Pakistan energy co-operation while introducing a new electronic outreach se
Published 25 Oct, 2012 12:00am