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Sep 20, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2013-04-11
China takes tax reform nation-wide

China takes tax reform nation-wide

China's government extended a pilot value-added tax reform programme nation-wide on Wednesday that would help cut taxes by 120 billion yuan ($19 billion) in 2013. In a meeting chaired by Premier Li Keqiang, the State Council, or cabinet, decided to expand
Published 11 Apr, 2013 12:00am
China records trade deficit of $880 million

China records trade deficit of $880 million

China recorded a rare trade deficit in March as imports exceeded exports by $880 million, data showed Wednesday, as officials and analysts warned of lingering weakness in crucial overseas markets. The surprise data come a day after Beijing released inflat
Published 11 Apr, 2013 12:00am
India's car sales shrink for first time in decade

India's car sales shrink for first time in decade

India's once red-hot car market shrank for the first time in a decade in the last financial year, data showed Wednesday, underlining the scale of the slowdown in Asia's third-biggest economy. Domestic passenger car sales, seen as a pointer to overall econ
Published 11 Apr, 2013 12:00am
EU raises flag over French, Italian, Spanish economies

EU raises flag over French, Italian, Spanish economies

The European Commission warned of deepening economic problems in France, Italy and Spain on Wednesday, and said Slovenia must take urgent steps to offset the risk of a wider destabilisation across the eurozone. Unveiling its second review of economic imba
Published 11 Apr, 2013 12:00am
Nikkei at highest close in nearly 5 years

Nikkei at highest close in nearly 5 years

Japan's Nikkei average climbed to its highest closing level in nearly five years on Wednesday, with traders citing new money coming into the market after the central bank started its ultra-loose monetary easing this week. The benchmark has rallied 7.5 per
Published 11 Apr, 2013 12:00am
Dow ends at another record close

Dow ends at another record close

US stocks advanced on Tuesday, with the Dow closing at a record high on a rally in cyclical shares and as earnings season started to heat up. With the day's advance, the S&P 500 again neared its all-time intraday high of 1,576.09, recovering from steep lo
Published 11 Apr, 2013 12:00am
Indian shares spring back

Indian shares spring back

Indian shares rebounded on Wednesday from a seven-month closing low to post their first gain in six sessions as technology shares such as Infosys advanced ahead of their quarterly results while bluechips such as Larsen & Toubro recovered. Indexes posted t
Published 11 Apr, 2013 12:00am
Prices for longer-dated Treasuries fall

Prices for longer-dated Treasuries fall

Prices for longer-dated US Treasuries dropped on Tuesday as investors extended a selloff after last week's rally and before debt auctions later in the week but an undercurrent of worries about the global economy tempered losses. An auction of $32 billion
Published 11 Apr, 2013 12:00am
Prices for longer-dated Treasuries fall

Prices for longer-dated Treasuries fall

Prices for longer-dated US Treasuries dropped on Tuesday as investors extended a selloff after last week's rally and before debt auctions later in the week but an undercurrent of worries about the global economy tempered losses. An auction of $32 billion
Published 11 Apr, 2013 12:00am
Banks help lift Saudi bourse to fresh 11-month high

Banks help lift Saudi bourse to fresh 11-month high

Saudi Arabia's banks rose on positive earnings surprise, helping lift the kingdom's bourse to a fresh 11-month high on Wednesday, while other regional markets were mixed. Heavyweight Al Rajhi Bank advanced 0.8 percent. It posted a 2 percent rise in quarte
Published 11 Apr, 2013 12:00am
Hong Kong shares rise in weak turnover, China sluggish

Hong Kong shares rise in weak turnover, China sluggish

Hong Kong shares rose in anaemic turnover on Wednesday with mainland China markets sluggish after data showed the world's second-largest economy unexpectedly had a trade deficit in March. China posted a $884 million trade deficit in March as a forecast-bu
Published 11 Apr, 2013 12:00am
European shares post biggest one-day gain in 3 months

European shares post biggest one-day gain in 3 months

European shares hit a one-week closing high on Wednesday and posted their biggest daily rise in three months, after encouraging Chinese economic data and a record high on a leading US equity index. Sectors that generally perform better on signs of improve
Published 11 Apr, 2013 12:00am
Seoul shares rise

Seoul shares rise

South Korean shares rose on Wednesday as exporters rebounded from recent batterings and foreigners were net buyers for the first time since April 2. The Korea Composite Stock Price Index (KOSPI) rose 0.77 percent to close at 1,935.58 points, climbing away
Published 11 Apr, 2013 12:00am
Southeast Asian markets: Malaysia hits record high

Southeast Asian markets: Malaysia hits record high

Malaysian stocks hit a record closing high on Wednesday, helped by strong foreign inflows while Chinese trade data also boosted investor sentiment. Kuala Lumpur's Composite Index rose 0.4 percent to hit a record closing high of 1,696.20, led by a 2.4 perc
Published 11 Apr, 2013 12:00am
UK's FTSE keeps climbing

UK's FTSE keeps climbing

Britain's benchmark share index rose for the third consecutive session on Wednesday, as a surge in US stock markets and robust Chinese data buoyed sentiment and boosted bank and mining stocks. Some traders said the blue-chip FTSE 100 had the scope to gain
Published 11 Apr, 2013 12:00am
Indian rupee gains

Indian rupee gains

The Indian rupee rose on Wednesday as domestic shares recovered from a five-day slump, though concerns about recent heavy foreign outflows and dollar demand from oil importers kept gains in the local currency in check. "The cues are mixed. Headwinds are f
Published 11 Apr, 2013 12:00am
Yen resolute at 99 in Asia

Yen resolute at 99 in Asia

The yen bobbed around a nearly four-year low against the dollar on Wednesday, but the momentum created by the Bank of Japan's ambitious monetary expansion campaign was not quite enough to push it over the 100-yen level yet. The Aussie pared gains after ch
Published 11 Apr, 2013 12:00am
Yen sinks to three-year low against euro in London

Yen sinks to three-year low against euro in London

The yen hit a three-year low against the euro and edged closer to 100 to the dollar on Wednesday, extending a slide triggered by the Bank of Japan's radical monetary easing. Gains against the yen helped push the euro to a one-month high against the dollar
Published 11 Apr, 2013 12:00am
Dollar dips versus yen but 100 in sight

Dollar dips versus yen but 100 in sight

The dollar slipped back from nearly a four-year high against the yen on Tuesday as traders booked profits on its sharp rally, but the yen's weakening trend remained intact following the Bank of Japan's aggressive monetary easing plan announced last week.
Published 11 Apr, 2013 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 78.05-78.0550 (78.05-78.08). Call Money Rates: 06.50-07.25 percent (previous 05.25-07.50 percent).
Published 11 Apr, 2013 12:00am
Yuan sets new record high

Yuan sets new record high

The yuan climbed to a record high against the dollar on Wednesday for the second time in five days, hitting the edge of the official trading band for the first time since December 11, as Beijing continued to show tolerance for measured appreciation. The s
Published 11 Apr, 2013 12:00am
Won, Philippine peso top gainers

Won, Philippine peso top gainers

The South Korean won and the Philippine peso led emerging Asian currencies higher on Wednesday as risk sentiment improved after strong China trade data and a record Wall Street finish. The Bank of Japan's bold easing programme also helped drive up the Ind
Published 11 Apr, 2013 12:00am
Australian and New Zealand dollars rise

Australian and New Zealand dollars rise

The Australian and New Zealand dollars rose on Wednesday after strong Chinese imports data pointed to solid demand for the countries' resources, lifting both currencies to multi-decade highs in trade-weighted terms. Chinese imports from Australia were the
Published 11 Apr, 2013 12:00am
Sterling slips versus dollar

Sterling slips versus dollar

Sterling eased against the dollar on Wednesday after minutes from the US Federal Reserve's latest policy-setting committee meeting showed some policymakers were keen to end asset purchases this year. The pound also weakened against the euro, although loss
Published 11 Apr, 2013 12:00am
Dramatic Dortmund join Madrid in last four

Dramatic Dortmund join Madrid in last four

Borussia Dortmund produced a stunning late comeback to beat Malaga and progress to the Champions League semi-finals on Tuesday, while Real Madrid saw off the challenge of Galatasaray. After a goalless draw in last week's first leg in Spain, Dortmund looke
Published 11 Apr, 2013 12:00am
PCB, Ufone announce 'King of Speed' schedule

PCB, Ufone announce 'King of Speed' schedule

Ufone and PCB announced the schedule for trials of "King of Speed," a talent hunt which will reveal the best fast bowling talent. King of Speed camps will be set up in 10 cities across Pakistan from 13th - 21st April 2013. The trials will be held in two p
Published 11 Apr, 2013 12:00am
UEFA propose 10-match racism ban

UEFA propose 10-match racism ban

Players found guilty of racial abuse will face minimum suspensions of 10 matches, under plans laid out by UEFA general secretary Gianni Infantino on Wednesday. Infantino also said racist offences would trigger partial stadium closures in the first instanc
Published 11 Apr, 2013 12:00am
Serena, Venus to lead US against Swedes in Fed Cup

Serena, Venus to lead US against Swedes in Fed Cup

World number one Serena Williams and her sister Venus will join Sloane Stephens and Varvara Lepchenko on the US Fed Cup team facing Sweden later this month, the US Tennis Association said Wednesday. The move ensures the Williams sisters, two-time defendin
Published 11 Apr, 2013 12:00am
Rashid wins Mr Pakistan title

Rashid wins Mr Pakistan title

Muhammad Rashid, body builder of National Transmission and Despatch Company Limited (NTDCL) wins the title of Mr Pakistan in body building competition organised by Body Building Federation Pakistan. A number of body builders from all over the country part
Published 11 Apr, 2013 12:00am
Pakistan placed in pool A for 9th Asia Cup Hockey tourney

Pakistan placed in pool A for 9th Asia Cup Hockey tourney

National hockey team will participate in the 9th Men's Asia Cup Hockey Tournament kicks off from August 24 to September 1 in Ipoh, Malaysia. A press release issued by Pakistan Hockey Federation (PHF) on Wednesday said that with the approval of Internation
Published 11 Apr, 2013 12:00am
Wisden warns of 'Ashes overkill'

Wisden warns of 'Ashes overkill'

The 150th edition of Wisden Cricketers' Almanack published on Wednesday warned that the Ashes will be "stretched to their limit" as a result of numerous upcoming series between England and Australia. Cricket's oldest rivals - who played the first cricket
Published 11 Apr, 2013 12:00am
Wisden celebrates 150 not out

Wisden celebrates 150 not out

It started as a the work of a former cricketer looking to secure an income in his retirement and was priced at a modest one shilling. By contrast, Wednesday saw the publication of the 150th edition of Wisden Cricketers' Almanack, with the hardback edition
Published 11 Apr, 2013 12:00am
Negotiations under way to finalise Pakistan's Caribbean tour

Negotiations under way to finalise Pakistan's Caribbean tour

The West Indies Cricket Board (WICB) has brushed aside media reports suggesting that Pakistan's tour of the Caribbean this year is in jeopardy. A statement released by WICB says the board remains optimistic that the tour will take place in July as planned
Published 11 Apr, 2013 12:00am
GCU 113th annual sports begin

GCU 113th annual sports begin

The 113th Annual Sports of the Government College University Lahore on Wednesday began at a grand inaugural ceremony at the Punjab Stadium. About 1,400 students from 26 departments of GC University Lahore took part in the ceremony marked by a grand march
Published 11 Apr, 2013 12:00am
Aisam to fight Davis Cup case

Aisam to fight Davis Cup case

Pakistan tennis star Aisam-ul Haq Qureshi Wednesday said he would fight Pakistan's case after a referee's decision to award a Davis Cup tie to New Zealand because of an unplayable court surface at a neutral venue. Qureshi, 33, the country's first player t
Published 11 Apr, 2013 12:00am
Hotly awaited Malaysia election set for May 5

Hotly awaited Malaysia election set for May 5

Malaysia on Wednesday announced a general election for May 5, setting a long-awaited date for polls tipped to be the closest ever as the long-ruling government tries to hold off a surging opposition. Speaking a week after Prime Minister Najib Razak dissol
Published 11 Apr, 2013 12:00am
Death penalty resumption termed 'disappointing setbacks'

Death penalty resumption termed 'disappointing setbacks'

The world-wide trend towards abolition of the death penalty continued in 2012, rights group Amnesty International said in a report published Wednesday, despite an increase in some countries. At least 682 people were executed in 2012, two more than in 2011
Published 11 Apr, 2013 12:00am
Iran to build more nuclear reactors

Iran to build more nuclear reactors

Iran plans to build more nuclear power reactors in an earthquake-prone coastal area, Iranian media said on Wednesday, a day after a strong tremor struck the region close to its only existing such plant Tuesday's 6.3-magnitude quake hit 89 km (55 miles) so
Published 11 Apr, 2013 12:00am
Austerity putting children at risk: UN

Austerity putting children at risk: UN

The UN warned Wednesday that austerity measures are hitting children hard, as it published a ranking of kids' well-being in rich countries topped by northern European countries and showing Britain climbing out of the bottom tier. As governments turn to au
Published 11 Apr, 2013 12:00am
US senators reach deal on gun-sale background checks

US senators reach deal on gun-sale background checks

US senators on Wednesday announced a landmark bipartisan compromise that would expand background checks to all commercial firearm sales, in what could result in the most ambitious change to American gun laws since 1994. The deal comes four months after th
Published 11 Apr, 2013 12:00am
Four Afghan policemen killed

Four Afghan policemen killed

Four policemen were killed and two others injured when their vehicle hit a roadside bomb in south-western Afghanistan, officials said Wednesday. "The incident took place late Tuesday in Char Borjak district, in which four policemen were killed and Mir Ala
Published 11 Apr, 2013 12:00am
Test-tube baby pioneer dies

Test-tube baby pioneer dies

British scientist Robert Edwards, who was awarded a Nobel prize for his pioneering work in developing in vitro fertilisation (IVF), died on Wednesday aged 87, his university announced. "It is with deep sadness that the family announces that Professor Sir
Published 11 Apr, 2013 12:00am
Guatemala recognises Palestine as 'free, sovereign' state

Guatemala recognises Palestine as 'free, sovereign' state

Guatemala has recognised Palestine as a sovereign state in the belief that this will help foster peace in the Middle East, the president's office announced Tuesday. Guatemala "has decided to join the vast majority of Latin American and Caribbean countries
Published 11 Apr, 2013 12:00am
Syria, North Korea top G8 meeting in London

Syria, North Korea top G8 meeting in London

Western and Middle Eastern nations trying to help the Syrian opposition in its war against President Bashar al-Assad will meet in Turkey on April 20, a US official said on Wednesday as G8 foreign ministers gathered in London for a summit. US Secretary of
Published 11 Apr, 2013 12:00am
British parliament gathers to honour Thatcher

British parliament gathers to honour Thatcher

British lawmakers interrupted their holidays for a special session of parliament on Wednesday to pay tribute to Margaret Thatcher, although many of the former premier's harshest critics said they would stay away in a sign of her bitterly divisive legacy.
Published 11 Apr, 2013 12:00am
Qatar throws Egypt $3 billion lifeline amid IMF talks

Qatar throws Egypt $3 billion lifeline amid IMF talks

Gas-rich Qatar threw Egypt another unconditional financial lifeline on Wednesday as the Arab world's most populous nation struggles to secure an IMF loan to ease its deepening economic crisis. Qatari Prime Minister Sheikh Hamad bin Jassim al-Thani said af
Published 11 Apr, 2013 12:00am
South Korea says North likely to test-launch missile

South Korea says North likely to test-launch missile

South Korea said on Wednesday there was a "very high" probability that North Korea, after weeks of threats of war, would test-launch a medium-range missile at any time as a show of strength. Foreign Minister Yun Byung-se said South Korea had asked China a
Published 11 Apr, 2013 12:00am
APTMA demands reduction in interest rate by 150 basis points

APTMA demands reduction in interest rate by 150 basis points

All Pakistan Textile Mills Association (APTMA) demands reduction in interest rate by 150 basis points in the upcoming monetary policy, likely to be announced tomorrow. Chairman APTMA Ahsan Bashir, along with Group Leader APTMA Gohar Ejaz, urged the centra
Published 11 Apr, 2013 12:00am
UoP holds seminar on significance of IP gas pipeline project

UoP holds seminar on significance of IP gas pipeline project

Consul General of Iran in Peshawar, Hassan Darvashvand has said that the Pakistan-Iran Gas pipeline project would meet energy and gas needs of the country, which will be completed at any cost by end of 2014. He was speaking at a seminar titled "Pakistan-I
Published 11 Apr, 2013 12:00am
PMLQ, PPP finalise adjustment on almost 90 percent seats

PMLQ, PPP finalise adjustment on almost 90 percent seats

Pakistan Muslim League (PML-Q) and Pakistan People's Party (PPP) have finalised adjustment on almost 90-per cent seats. The PML will fully support Qamaruzzaman Kaira on NA-106 and Tanvir Ashraf Kaira on PP-112 and Chaudhry Ejaz Ahmad of Ranian on PP-113 f
Published 11 Apr, 2013 12:00am
LTBA congratulates new FBR chief

LTBA congratulates new FBR chief

Lahore Tax Bar Association (LTBA) congratulated the new Federal Board of Revenue (FBR) Chairman Ansar Javed. In a press statement issued here on Wednesday, President Lahore Tax Bar Association Qari Habib ur Rehman Zuberi, Vice President Aamer Younis, Secr
Published 11 Apr, 2013 12:00am
Two weekly holidays: government urged to drop the idea

Two weekly holidays: government urged to drop the idea

Pakistan Industrial and Traders Associations Front (PIAF) while expressing serious worries over the proposals to observe two holidays in a week, has demanded of the government to drop the idea of two holidays, as an extra holiday would further spoil the t
Published 11 Apr, 2013 12:00am
Shahbaz, Mengal discuss seat adjustment

Shahbaz, Mengal discuss seat adjustment

Pakistan Muslim League-Nawaz (PML-N) and Balochistan National Party (BNP) have agreed to work out on seat adjustment in upcoming elections. Former Chief Minister Punjab Shahbaz Sharif met with Chief Minister Balochistan and BNP Chief Akhtar Mengal here an
Published 11 Apr, 2013 12:00am
ECP urged to facilitate marginalised voters

ECP urged to facilitate marginalised voters

The Free and Fair Election Network's (Fafen) District Long-Term Observers (DLTOs) interviewed 90 District Election Commissioners (DECs) about the steps being taken by DECs to facilitate marginalised communities, including women, religious and ethnic minor
Published 11 Apr, 2013 12:00am
Country's twisting, turning politicians

Country's twisting, turning politicians

For politicians in most countries, switching parties is a once-in-a-career move made only after careful thought. But in Pakistan, changing sides to gain advantage is standard practice. Since entering politics in 1996, Arbab Khizer Hayat has switched his p
Published 11 Apr, 2013 12:00am
Eight militants killed in Orakzai

Eight militants killed in Orakzai

Security forces on Wednesday killed at least eight suspected militants in exchange of fire in Orakzai Agency. According to security forces, some unidentified armed militants attacked security forces check post in Dabori area of Orakzai Agency and injured
Published 11 Apr, 2013 12:00am
USDA raises cotton stocks forecast, downplays China sale impact

USDA raises cotton stocks forecast, downplays China sale impact

The US government revised its forecast for global cotton inventories in the 2012/13 crop year higher into record levels on Wednesday, due to rising stocks in China, the world's No 1 textile market. In its monthly crop report, the US Department of Agricult
Published 11 Apr, 2013 12:00am
Shanghai copper rises

Shanghai copper rises

The most-traded August copper contract on the Shanghai Futures Exchange hit a nearly two week peak, before trimming gains to close at 55,140 yuan ($8,900) a tonne on Wednesday, still up 0.40 percent. "Entering March, traders were more active in the market
Published 11 Apr, 2013 12:00am
Copper dips; demand worries weigh

Copper dips; demand worries weigh

Copper dipped on Wednesday, giving up some gains from the previous session when it hit two-week highs, as some traders locked in profits and other investors remain concerned about sluggish demand amid weak Chinese copper imports.
Published 11 Apr, 2013 12:00am
Oil prices mixed

Oil prices mixed

Brent crude oil prices fell and US crude oil prices rose in light trading on Wednesday, after a report of rising US crude oil and gasoline inventories reinforced concerns about the oil demand outlook in the world's top petroleum consumer. US RBOB gasoline
Published 11 Apr, 2013 12:00am
Tokyo rubber down

Tokyo rubber down

Benchmark Tokyo rubber fell 0.1 percent on Wednesday as the yen's weakness stalled near a four-year low against the dollar and killed further upward momentum for TOCOM futures. The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for Sept
Published 11 Apr, 2013 12:00am
Palm oil lower

Palm oil lower

Malaysian palm oil futures edged lower on Wednesday, weighed down by recent strength in the ringgit, although losses were limited after a report showed stocks dropped to their lowest in seven months as exports outpaced weak output growth. The benchmark Ju
Published 11 Apr, 2013 12:00am
Corn and soya soar; wheat mixed

Corn and soya soar; wheat mixed

US corn futures rose 1.7 percent on Tuesday as traders unwound bearish bets on the market ahead of a key government supply report, traders said. Soyabean futures also rose in pre-report positioning, while wheat futures were mixed. Improving crop condition
Published 11 Apr, 2013 12:00am
Sugar and coffee up

Sugar and coffee up

Raw sugar and arabica coffee futures on ICE rose in heavy volume on Wednesday, as investors continued to roll out of May contracts into July, with both markets holding just above the lowest levels in nearly three years. Cocoa futures on both ICE Futures U
Published 11 Apr, 2013 12:00am
Gold rises in New York

Gold rises in New York

Gold rose on Tuesday as volatility in the currency market triggered by Japan's aggressive monetary easing plan lifted bullion's appeal as a hedge against inflation and currency fluctuations. Silver, often more volatile and speculative than gold, rose 2.5
Published 11 Apr, 2013 12:00am
Gold edges up in Asia

Gold edges up in Asia

Gold edged up on Wednesday as Japan's aggressive monetary easing policy boosted bullion's appeal as a hedge against inflation, although gains may be capped as stronger equities lure buyers seeking better returns. Gold had gained $2.14 an ounce to $1,586.8
Published 11 Apr, 2013 12:00am
Gold falls in Europe

Gold falls in Europe

Gold prices fell below $1,580 as traders took to the sidelines ahead of the release later on Wednesday of minutes from the Federal Reserve's last policy meeting. Softer investor confidence in the metal after a fresh outflow from the world's largest gold e
Published 11 Apr, 2013 12:00am
US MIDDAY: corn, soya and wheat weaken

US MIDDAY: corn, soya and wheat weaken

US wheat, corn and soyabeans weakened early on Wednesday in choppy trading ahead of a monthly US Department of Agriculture supply-and-demand report. Declines in corn were limited by short-covering as investors unwound bearish bets placed on the commodity
Published 11 Apr, 2013 12:00am
US MIDDAY: gold slides one percent

US MIDDAY: gold slides one percent

Gold prices fell 1 percent on Wednesday to $1,566 an ounce after Federal Reserve minutes showed some policymakers expected to slow the pace of bond purchases and to discontinue them by year end. Shortly after, a European Commission report showed Cyprus ag
Published 11 Apr, 2013 12:00am
Swiss Red Cross engaged in building over 700 houses in Sindh

Swiss Red Cross engaged in building over 700 houses in Sindh

The Ambassador of Switzerland Christoph Bubb together with his spouse Mrs Regula Bubb and the Consul General Didier Boschung visited the Dadu district in Sindh where the Swiss Red Cross is engaged in reconstruction of 710 houses for the flood-affected pop
Published 11 Apr, 2013 12:00am
Indian Gutka worth Rs 129.24 million confiscated

Indian Gutka worth Rs 129.24 million confiscated

Model Collecto-rate of Custom (MCC), PaCCS on Wednesday claimed to have confiscated huge quantity of contraband Indian Gutka worth Rs 129.24 million from Karachi port. According to chief Collector, Muhammad Yahya, the collector MCC, PaCCS received credibl
Published 11 Apr, 2013 12:00am
Bureaucracy: funds for medical bills increased

Bureaucracy: funds for medical bills increased

The Health Department, Government of Balochistan has increased the allocated funds in respect of medical bills of senior officials from Rs 50000 to Rs 75000. A handout issued here on Wednesday said that earlier, all provincial secretaries and the secretar
Published 11 Apr, 2013 12:00am
Hubco seeks release of Rs 19 billion dues

Hubco seeks release of Rs 19 billion dues

The Hub Power Company Limited (Hubco) has demanded of the government to immediately release Rs 19 billion out of the overdue amount of Narowal Power Plant (NPP). The 225MW power plant located in Punjab is completely shut down due to non-availability of oi
Published 11 Apr, 2013 12:00am
Five companies' shares trading suspended

Five companies' shares trading suspended

Pak Leather Crafts Limited, S.G Fibre Limited, Transmission Engineering Industries Limited, Dandot Cement Company Limited and Mandviwala Mauser Plastic Industries Limited still failed to comply with the instructions of the KSE to fulfil the requirements o
Published 11 Apr, 2013 12:00am
CDA fails to implement its high-rise building bylaws

CDA fails to implement its high-rise building bylaws

The Capital Development Authority (CDA) has failed to implement its building bylaws, particularly the ban on the use of residential buildings for commercial purposes, enforcing under construction buildings to be covered with a green curtain and ensuring t
Published 11 Apr, 2013 12:00am
Kati advised to set up body to help tackle traffic jams

Kati advised to set up body to help tackle traffic jams

DIG Traffic Abdul Khalique Shaikh has advised Korangi Association of Trade and Industry (Kati) to constitute a committee to co-ordinate with the traffic police. He said the committee should point out the areas and pockets of traffic blocking causing obsta
Published 11 Apr, 2013 12:00am
DIBPL earns Rs 501 million profit before tax in 2012

DIBPL earns Rs 501 million profit before tax in 2012

The Board of Directors of Dubai Islamic Bank Pakistan Limited (DIBPL) in a meeting held recently approved financial statements of the bank for the year ended December 31, 2012. The year 2012 marked numerous achievements for DIBPL. On the financial side, t
Published 11 Apr, 2013 12:00am
DIBPL earns Rs 501 million profit before tax in 2012

DIBPL earns Rs 501 million profit before tax in 2012

The Board of Directors of Dubai Islamic Bank Pakistan Limited (DIBPL) in a meeting held recently approved financial statements of the bank for the year ended December 31, 2012. The year 2012 marked numerous achievements for DIBPL. On the financial side, t
Published 11 Apr, 2013 12:00am
KSE suspends share trading of three companies

KSE suspends share trading of three companies

The management of Karachi Stock Exchange (KSE) has suspended the trading in the shares of Carvan East Fabrics, Prudential Investment Bank and National Fibres Limited here on Wednesday.
Published 11 Apr, 2013 12:00am
Abduction of colleague: lawyers boycott courts proceedings

Abduction of colleague: lawyers boycott courts proceedings

Lawyers' community across the Balochistan on Wednesday continued protests and boycotted courts proceedings against kidnapping of Salahuddin Mengal. The protest of the lawyers has created much inconvenience for the litigants coming from far-flung areas of
Published 11 Apr, 2013 12:00am
Steps discussed to resolve environmental issues

Steps discussed to resolve environmental issues

The Sindh caretaker Minister for Environment and Alternate Energy, Sharif Ansari has said that unawareness and inefficient disposal of solid waste and sewer effluent are main hurdles in maintaining the pollution free society.
Published 11 Apr, 2013 12:00am
One killed as rains lash Balochistan

One killed as rains lash Balochistan

A man was killed of lightening and dozens of houses damaged as rain flooded several districts of Balochistan province on Wednesday. According to details, intermittent rain started on Monday-Tuesday night played havoc in Ziarat, Harnai, Zhob, Qalat and Mak
Published 11 Apr, 2013 12:00am
Jahangir Siddiqui clarifies media report

Jahangir Siddiqui clarifies media report

Jahangir Siddiqui & Co Ltd hereby clarifies about the reports published in media (not in Daily Business Recorder) regarding its annual general meeting held on April 5, 2013 that it was not a protest by some shareholders of company but by Shunaid Qureshi a
Published 11 Apr, 2013 12:00am
Directives to carry out cleanliness work after rain

Directives to carry out cleanliness work after rain

The Municipal Services and Parks & Horticulture Departments of Karachi Metropolitan Corporation have been directed to carry out cleanliness work after rain in different areas on priority basis. KMC Administrator Syed Hashim Raza Zaidi issued these directi
Published 11 Apr, 2013 12:00am
Pakistan to host Saarc insurance regulators' conference

Pakistan to host Saarc insurance regulators' conference

The two-day Saarc insurance regulators conference organised by the Insurance Development and Regulatory Authority (IDRA), Bangladesh, on April 6-7, 2013, at the Bangabandhu International Conference Centre, Dhaka, on the theme "The Way Forward in the Wake
Published 11 Apr, 2013 12:00am
Grenade attack kills two children in Pasni

Grenade attack kills two children in Pasni

Two children were killed and a man sustained injuries on Wednesday, when unknown attackers hurled a hand grenade at a house in Pasni. Police confirmed the deaths in the grenade attack which took place at the centre of Pasni. The father of the deceased chi
Published 11 Apr, 2013 12:00am
Gas pipeline blown up in Jafarabad

Gas pipeline blown up in Jafarabad

A serious incident of insurgency occurred at 01:35am on April 10, between Tuesdays and Wednesday night, in Jafarabad District, Balochistan, when SSGC's 16-inch diameter Indus Left Bank Pipeline (ILBP) was blown up by some unknown miscreants.
Published 11 Apr, 2013 12:00am
Climate change leading to extreme weather events: experts

Climate change leading to extreme weather events: experts

Climate change pattern is giving birth to extreme weather events, currents showers in the country are part of that phenomenon. Unless disaster risk reduction activities are not linked to the development, we will be facing massive losses of the disasters.
Published 11 Apr, 2013 12:00am
Woman shot dead

Woman shot dead

Unknown armed men have killed a woman in the town Tuesday night. Police sources said on Wednesday that unidentified armed men opened fire at a woman standing in front of Post Office, leaving her dead on the spot. The assailants managed to escape from the
Published 11 Apr, 2013 12:00am
SSC exams: control room established in CM House

SSC exams: control room established in CM House

Spokesperson to Caretaker Chief Minister Sindh has informed that to ensure the smooth and peaceful conduct of SSC Part-I & II examination, a central control room established at CM House, under the especial directives of Caretaker CM Sindh, the Section Cr.
Published 11 Apr, 2013 12:00am
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