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Print - 2013-03-07
Farooq nominated Chairman FPCCI Pak-Russia Business Council

Farooq nominated Chairman FPCCI Pak-Russia Business Council

Fazal Qadir Sherani, President FPCCI has nominated Muhammad Farooq Afzal, CE of ITN group of companies as Chairman Pakistan Russia Business Council (PRBC) of FPCCI for the 2013 term. He advised that new Council to promote and increase Pakistan's trade col
Published 07 Mar, 2013 12:00am
Horticulture products facing stiff competition in Gulf region

Horticulture products facing stiff competition in Gulf region

Pakistan, which has lost various lucrative international markets of agricultural products to India, is now facing stiff competition in value-added horticulture products, particularly in Gulf region. Due to big difference in prices, Pakistani exporters are
Published 07 Mar, 2013 12:00am
CNG filling station owners seek provision of gas

CNG filling station owners seek provision of gas

The owners of CNG filling stations from all across Pakistan have said that they are not being provided gas since one and a half years despite directives of the Prime Minister and courts which is ravaging their Rs 10 billion investments. Mubashir Hussain a
Published 07 Mar, 2013 12:00am
World's plastic waste: Pakistan to become most popular destination

World's plastic waste: Pakistan to become most popular destination

Pakistan is well poised to become the most popular destination of world's plastic waste. As of 2012, it is already the key dumping ground of waste originating from the gulf region including Saudi Arabia, Bahrain and UAE. Recently on the back of growing en
Published 07 Mar, 2013 12:00am
Naval Chief visits ships of foreign navies

Naval Chief visits ships of foreign navies

The Chief of the Naval Staff, Admiral Muhammad Asif Sandila, here on Wednesday visited different ships of foreign navies participating in the on-going Multinational Exercise Aman-13. An ISPR (Navy) press release said that upon his arrival, the Naval Chief
Published 07 Mar, 2013 12:00am
HAML asset manager rating upgraded

HAML asset manager rating upgraded

The Pakistan Credit Rating Agency (Pacra) has upgraded the asset manager rating of Habib Asset Management Limited (HAML) to 'AM3' (AM three). [Previous Rating: "AM3-" with Positive Outlook]. The rating denotes high investment management industry standards
Published 07 Mar, 2013 12:00am
HAML asset manager rating upgraded

HAML asset manager rating upgraded

The Pakistan Credit Rating Agency (Pacra) has upgraded the asset manager rating of Habib Asset Management Limited (HAML) to 'AM3' (AM three). [Previous Rating: "AM3-" with Positive Outlook]. The rating denotes high investment management industry standards
Published 07 Mar, 2013 12:00am
Sugar procurement: 60 mills paid Rs 14.6 billion by TCP

Sugar procurement: 60 mills paid Rs 14.6 billion by TCP

Trading Corporation of Pakistan (TCP) has paid Rs 14.6 billion to 60 mills against procurement of sugar during this year. On the directives of the Economic Co-ordination Committee (ECC) of the Cabinet, recently, state-run grain trader has procured 330,000
Published 07 Mar, 2013 12:00am
Pacra maintains FPM ratings

Pacra maintains FPM ratings

The Pakistan Credit Rating Agency Limited (PACRA) has maintained the long-term and short-term ratings of First Punjab Modaraba (FPM) at "BBB" (Triple B) and "A3" (A Three), respectively. These ratings denote low expectation of credit risk and an adequate
Published 07 Mar, 2013 12:00am
Power bill defaulters: Ministry, NAB to recover Rs 112 billion

Power bill defaulters: Ministry, NAB to recover Rs 112 billion

Water and Power Ministry and National Accountability Bureau (NAB) have joined hands to recover Rs 112 billion from 235,000 chronic private electricity bill defaulters. This decision was taken at a joint meeting of Minister for Water and Power, Ahmad Mukht
Published 07 Mar, 2013 12:00am
National Assembly adopts SECP (Amendment) Bill-2013

National Assembly adopts SECP (Amendment) Bill-2013

The National Assembly on Wednesday passed the Securities and Exchange Commission of Pakistan (Amendment) Bill of 2013 aimed at regulating the domestic capital market and safeguarding the interest of investors. The government had to defer another important
Published 07 Mar, 2013 12:00am
National Assembly adopts SECP (Amendment) Bill-2013

National Assembly adopts SECP (Amendment) Bill-2013

The National Assembly on Wednesday passed the Securities and Exchange Commission of Pakistan (Amendment) Bill of 2013 aimed at regulating the domestic capital market and safeguarding the interest of investors. The government had to defer another important
Published 07 Mar, 2013 12:00am
National Assembly adopts SECP (Amendment) Bill-2013

National Assembly adopts SECP (Amendment) Bill-2013

The National Assembly on Wednesday passed the Securities and Exchange Commission of Pakistan (Amendment) Bill of 2013 aimed at regulating the domestic capital market and safeguarding the interest of investors. The government had to defer another important
Published 07 Mar, 2013 12:00am
National Assembly adopts SECP (Amendment) Bill-2013

National Assembly adopts SECP (Amendment) Bill-2013

The National Assembly on Wednesday passed the Securities and Exchange Commission of Pakistan (Amendment) Bill of 2013 aimed at regulating the domestic capital market and safeguarding the interest of investors. The government had to defer another important
Published 07 Mar, 2013 12:00am
FBI nabs Pak-American for ISI HQ bombing

FBI nabs Pak-American for ISI HQ bombing

A Pakistani-American man has been arrested by the FBI on charges of providing material support to terrorists involved in the 2009 suicide attack at the ISI headquarters in Lahore that killed 30 people and wounded more than 300 others. Reaz Qadir Khan, 48,
Published 07 Mar, 2013 12:00am
FBI nabs Pak-American for ISI HQ bombing

FBI nabs Pak-American for ISI HQ bombing

A Pakistani-American man has been arrested by the FBI on charges of providing material support to terrorists involved in the 2009 suicide attack at the ISI headquarters in Lahore that killed 30 people and wounded more than 300 others. Reaz Qadir Khan, 48,
Published 07 Mar, 2013 12:00am
Caretaker Prime Minister: PML-N floats three names

Caretaker Prime Minister: PML-N floats three names

Pakistan Muslim League-Nawaz (PML-N) has short-listed three names ie, Rasool Baksh Paleejo, former Justice Nasir Aslam Zahid and former Justice Shakirullah Jan for the slot of caretaker prime minister. Opposition leader in the National Assembly Chaudhry N
Published 07 Mar, 2013 12:00am
Caretaker Prime Minister: PML-N floats three names

Caretaker Prime Minister: PML-N floats three names

Pakistan Muslim League-Nawaz (PML-N) has short-listed three names ie, Rasool Baksh Paleejo, former Justice Nasir Aslam Zahid and former Justice Shakirullah Jan for the slot of caretaker prime minister. Opposition leader in the National Assembly Chaudhry N
Published 07 Mar, 2013 12:00am
BoP 'crisis': Pakistan may need $9 billion: ADB

BoP 'crisis': Pakistan may need $9 billion: ADB

Pakistan has reached a critical balance of payments situation and will need another package from the International Monetary Fund before the end of the year to avert a crisis, one of the biggest lenders to the country said on Wednesday. The Asian Developme
Published 07 Mar, 2013 12:00am
BoP 'crisis': Pakistan may need $9 billion: ADB

BoP 'crisis': Pakistan may need $9 billion: ADB

Pakistan has reached a critical balance of payments situation and will need another package from the International Monetary Fund before the end of the year to avert a crisis, one of the biggest lenders to the country said on Wednesday. The Asian Developme
Published 07 Mar, 2013 12:00am
BoP ''crisis'': Pakistan may need $9 billion: ADB

BoP ''crisis'': Pakistan may need $9 billion: ADB

Pakistan has reached a critical balance of payments situation and will need another package from the International Monetary Fund before the end of the year to avert a crisis, one of the biggest lenders to the country said on Wednesday. The Asian Developme
Published 07 Mar, 2013 12:00am
Index loses 52.87 points

Index loses 52.87 points

Karachi Share Market again ended lower on the third day of the trading week as a panic situation continued in the metropolis on Sunday's blast near Abbas Town. The KSE-100 index shed 52.87 points, closing at 18,000.45 points against 18053.32 points a day
Published 07 Mar, 2013 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 07 Mar, 2013 12:00am
Index loses 52.87 points

Index loses 52.87 points

Karachi Share Market again ended lower on the third day of the trading week as a panic situation continued in the metropolis on Sunday's blast near Abbas Town. The KSE-100 index shed 52.87 points, closing at 18,000.45 points against 18053.32 points a day
Published 07 Mar, 2013 12:00am
Index loses 52.87 points

Index loses 52.87 points

Karachi Share Market again ended lower on the third day of the trading week as a panic situation continued in the metropolis on Sunday''s blast near Abbas Town. The KSE-100 index shed 52.87 points, closing at 18,000.45 points against 18053.32 points a day
Published 07 Mar, 2013 12:00am
BRIndex30 down by 148.5 points

BRIndex30 down by 148.5 points

On Wednesday, BRIndex30 opened at 12,316.18. It touched an intraday high of 12,432.66 and an intraday low of 12,150.50 and closed at 12,167.68 which was -148.5 points or -1.21 percent lower than previous close. Total volume was 264,660,700, which was 77.5
Published 07 Mar, 2013 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 07 Mar, 2013 12:00am
BRIndex30 down by 148.5 points

BRIndex30 down by 148.5 points

On Wednesday, BRIndex30 opened at 12,316.18. It touched an intraday high of 12,432.66 and an intraday low of 12,150.50 and closed at 12,167.68 which was -148.5 points or -1.21 percent lower than previous close. Total volume was 264,660,700, which was 77.5
Published 07 Mar, 2013 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 07 Mar, 2013 12:00am
Nomination papers: photocopies will be sent to SBP, FBR and NAB: ECP

Nomination papers: photocopies will be sent to SBP, FBR and NAB: ECP

The Election Commission of Pakistan (ECP) will circulate the photocopies of the nomination papers of all contesting candidates among State Bank of Pakistan (SBP), Federal Board of Revenue (FBR) and National Accountability Bureau (NAB) for verification. Th
Published 07 Mar, 2013 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 07 Mar, 2013 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (March 06, 2013).

Published 07 Mar, 2013 12:00am
EU fines Microsoft $731 million

EU fines Microsoft $731 million

The European Union fined Microsoft Corp 561 million euros ($731 million) on Wednesday for failing to offer users a choice of web browser, an unprecedented sanction that will act as a warning to other firms involved in EU antitrust disputes. It said the US
Published 07 Mar, 2013 12:00am
EU fines Microsoft $731 million

EU fines Microsoft $731 million

The European Union fined Microsoft Corp 561 million euros ($731 million) on Wednesday for failing to offer users a choice of web browser, an unprecedented sanction that will act as a warning to other firms involved in EU antitrust disputes. It said the US
Published 07 Mar, 2013 12:00am
EU fines Microsoft $731 million

EU fines Microsoft $731 million

The European Union fined Microsoft Corp 561 million euros ($731 million) on Wednesday for failing to offer users a choice of web browser, an unprecedented sanction that will act as a warning to other firms involved in EU antitrust disputes. It said the US
Published 07 Mar, 2013 12:00am
Stop 'bashing' parliamentarians, National Assembly warns anchorpersons

Stop 'bashing' parliamentarians, National Assembly warns anchorpersons

The National Assembly on Wednesday came up with united stance through a unanimous resolution to condemn all those TV anchorpersons who, according to them, telecast programmes against parliamentarians without verification "for some personal agendas, ulteri
Published 07 Mar, 2013 12:00am
THE RUPEE: modest gain

THE RUPEE: modest gain

The rupee managed to gain modestly against the dollar on the currency market on Wednesday in process of trading, dealers said.
Published 07 Mar, 2013 12:00am
Stop 'bashing' parliamentarians, National Assembly warns anchorpersons

Stop 'bashing' parliamentarians, National Assembly warns anchorpersons

The National Assembly on Wednesday came up with united stance through a unanimous resolution to condemn all those TV anchorpersons who, according to them, telecast programmes against parliamentarians without verification "for some personal agendas, ulteri
Published 07 Mar, 2013 12:00am
THE RUPEE: modest gain

THE RUPEE: modest gain

The rupee managed to gain modestly against the dollar on the currency market on Wednesday in process of trading, dealers said.
Published 07 Mar, 2013 12:00am
Wathra made Deputy Governor SBP

Wathra made Deputy Governor SBP

The federal government has appointed Ashraf Mahmood Wathra as Deputy Governor, State Bank of Pakistan (SBP), for a period of three years from the date he assumes office, says a notification issued by the Finance Division, Islamabad. Wathra brings 35 years
Published 07 Mar, 2013 12:00am
Wathra made Deputy Governor SBP

Wathra made Deputy Governor SBP

The federal government has appointed Ashraf Mahmood Wathra as Deputy Governor, State Bank of Pakistan (SBP), for a period of three years from the date he assumes office, says a notification issued by the Finance Division, Islamabad. Wathra brings 35 years
Published 07 Mar, 2013 12:00am
Wathra made Deputy Governor SBP

Wathra made Deputy Governor SBP

The federal government has appointed Ashraf Mahmood Wathra as Deputy Governor, State Bank of Pakistan (SBP), for a period of three years from the date he assumes office, says a notification issued by the Finance Division, Islamabad. Wathra brings 35 years
Published 07 Mar, 2013 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (March 06, 2013).

Published 07 Mar, 2013 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (March 06, 2013).

Published 07 Mar, 2013 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Wednesday (March 06, 2013).

Published 07 Mar, 2013 12:00am
Power bill defaulters: Ministry, NAB to recover Rs 112 billion

Power bill defaulters: Ministry, NAB to recover Rs 112 billion

Water and Power Ministry and National Accountability Bureau (NAB) have joined hands to recover Rs 112 billion from 235,000 chronic private electricity bill defaulters. This decision was taken at a joint meeting of Minister for Water and Power, Ahmad Mukht
Published 07 Mar, 2013 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (March 06, 2013).

Published 07 Mar, 2013 12:00am
Power bill defaulters: Ministry, NAB to recover Rs 112 billion

Power bill defaulters: Ministry, NAB to recover Rs 112 billion

Water and Power Ministry and National Accountability Bureau (NAB) have joined hands to recover Rs 112 billion from 235,000 chronic private electricity bill defaulters. This decision was taken at a joint meeting of Minister for Water and Power, Ahmad Mukht
Published 07 Mar, 2013 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (March 06, 2013) and for Thursday (March 07, 2013).
Published 07 Mar, 2013 12:00am
EU officials to visit fish harbour today

EU officials to visit fish harbour today

Pierre Mayaudon, Deputy Head of Delegation of European Union (EU) to Pakistan and Husnain Iftikhar, Senior Trade Advisor of Delegation of European Union (EU) to Pakistan will visit Karachi Fish Harbour on Thursday (today). The team will visit two seafood
Published 07 Mar, 2013 12:00am
Expatriates facing problems in getting passports

Expatriates facing problems in getting passports

Passport applicants in and outside the country especially in Dubai and Abu Dhabi are facing severe problems as the Pakistani Consulate in Dubai and Directorate of Immigration and Passport (I&P) are taking a long time to deliver them. Pakistani expat commu
Published 07 Mar, 2013 12:00am
Abbas Town blast: Jamaat-i-Islami blames US

Abbas Town blast: Jamaat-i-Islami blames US

Acting Ameer Jamaat-i-Islami (JI) Karachi Barjees Ahmed has said that the bomb blast at Abul Hassan Isphani Road was a part of American conspiracy to spark sectarian violence in the city. This he said while addressing a press conference at Idara-e-Noor Ha
Published 07 Mar, 2013 12:00am
International award conferred on Salman Javed

International award conferred on Salman Javed

An International award for meritorious services in the field of tourism and aviation for the year 2012 has been conferred upon Chairman, Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Standing Committee on Marketing, Salman Javed. The a
Published 07 Mar, 2013 12:00am
Tapping shale gas still a pipedream

Tapping shale gas still a pipedream

The government has so far failed to bring a single unit of shale or tight gas into production. As per official estimates, Pakistan has huge reservoirs of shale and tight gas. The US Energy Information Administration has estimated the shale gas reserves in
Published 07 Mar, 2013 12:00am
Banned militant outfits: Shia Qaumi Mahaz for army action in Karachi

Banned militant outfits: Shia Qaumi Mahaz for army action in Karachi

The Shia community, which lost hundreds of lives in targeted killings and bomb blasts over the past few years, has lost confidence in Rangers, police, judiciary and political parties, Chairman of Shia Qaumi Mahaz (SQM) Muhammad Ali Shah said at a press co
Published 07 Mar, 2013 12:00am
SECP issues show-cause notices to insurance companies

SECP issues show-cause notices to insurance companies

Securities and Exchange Commission of Pakistan (SECP) has issued 5 warning letters, 8 show-cause notices and an order to various insurance/takaful companies for failing to comply with corporate laws, insurance laws and accounting standards and regulations
Published 07 Mar, 2013 12:00am
Trading of Fateh Textile Mills shares suspended

Trading of Fateh Textile Mills shares suspended

The authorities of Karachi Stock Exchange (KSE) on Wednesday have suspended of Trading in the shares of Fateh Textile Mills Limited and placed the company in Defaulters' Segment of the Exchange.
Published 07 Mar, 2013 12:00am
Trading of Fateh Textile Mills shares suspended

Trading of Fateh Textile Mills shares suspended

The authorities of Karachi Stock Exchange (KSE) on Wednesday have suspended of Trading in the shares of Fateh Textile Mills Limited and placed the company in Defaulters' Segment of the Exchange.
Published 07 Mar, 2013 12:00am
Removal of NTNs to buy new cars to facilitate election rigging: APMDA

Removal of NTNs to buy new cars to facilitate election rigging: APMDA

All Pakistan Motor Dealers Association (APMDA) considers removal of NTN to buy cars is aimed at facilitating election rigging. Chairman, APMDA, H.M.Shahzad in a letter sent to the Chief Election Commissioner, former Justice Fakhruddin G. Ebrahim has broug
Published 07 Mar, 2013 12:00am
PAF chief visits Royal Australian Air Force HQ

PAF chief visits Royal Australian Air Force HQ

Air Chief Marshal Tahir Rafique Butt, Chief of the Air Staff, Pakistan Air Force (PAF) visited Royal Australian Air Force Headquarters. During the visit he met Air Marshal Geoff Brown, Chief of the Royal Australian Air Force. Both the dignitaries remained
Published 07 Mar, 2013 12:00am
Enhanced penalty: Military court's judgement annulled by SC

Enhanced penalty: Military court's judgement annulled by SC

The Supreme Court on Wednesday announced its eight-page reserved judgement against the procedure adopted by the military court to enhance the sentence of two civilians convicted of having a role in the suicide attack on the then President, Pervez Musharra
Published 07 Mar, 2013 12:00am
Clarification

Clarification

Ministry of Commerce has strongly refuted a news item published in this newspaper with the caption ""parchi" did play role in selection process: Secretary". According to a clarification issued by the Ministry of Commerce, the Secretary Commerce's comments
Published 07 Mar, 2013 12:00am