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May 12, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2013-05-23
We've already started work towards power woes: Shahbaz

We've already started work towards power woes: Shahbaz

Senior Pakistan Muslim League-Nawaz (PML-N) leader and former Punjab Chief Minister Shahbaz Sharif has said that PML-N is determined to show wonders with its performance after taking over government while suggestions of the opposition on the issue of powe
Published 23 May, 2013 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 23 May, 2013 12:00am
Transfers, postings suspended

Transfers, postings suspended

The Supreme Court on Wednesday suspended all appointments, postings and transfers carried out by the caretaker government except the transfers that were mandatory for free and fair elections and running of day-to-day affairs. A three-judge bench led by Ch
Published 23 May, 2013 12:00am
Transfers, postings suspended

Transfers, postings suspended

The Supreme Court on Wednesday suspended all appointments, postings and transfers carried out by the caretaker government except the transfers that were mandatory for free and fair elections and running of day-to-day affairs. A three-judge bench led by Ch
Published 23 May, 2013 12:00am
Bulls dominate on LSE

Bulls dominate on LSE

Bulls dominated on the proceedings on the Lahore Stock Exchange on Wednesday and the equities registered further gains amid ascending transaction volume. The LSE-25 index made another handsome gain of 142.73 points to close at 4568.43 against 4425.7 of Tu
Published 23 May, 2013 12:00am
Bulls dominate on LSE

Bulls dominate on LSE

Bulls dominated on the proceedings on the Lahore Stock Exchange on Wednesday and the equities registered further gains amid ascending transaction volume. The LSE-25 index made another handsome gain of 142.73 points to close at 4568.43 against 4425.7 of Tu
Published 23 May, 2013 12:00am
ISE index rises by 55.59 points

ISE index rises by 55.59 points

Bulls dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities continued to move in upward direction with positive trend at the ISE amid increase in index. ISE Ten Index showed an improvement of 55.59 points as the ISE Ten Index move
Published 23 May, 2013 12:00am
ISE index rises by 55.59 points

ISE index rises by 55.59 points

Bulls dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities continued to move in upward direction with positive trend at the ISE amid increase in index. ISE Ten Index showed an improvement of 55.59 points as the ISE Ten Index move
Published 23 May, 2013 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (May 22, 2013).

Published 23 May, 2013 12:00am
Military's stance on terrorism clear: General Kayani

Military's stance on terrorism clear: General Kayani

Chief of Army Staff General Ashfaq Parvez Kayani on Wednesday said that the military has a clear stance against terrorism in the country. In a brief chat with media persons at the Aiwan-i-Sadr, General Kayani did not answer a number of questions, but said
Published 23 May, 2013 12:00am
Military's stance on terrorism clear: General Kayani

Military's stance on terrorism clear: General Kayani

Chief of Army Staff General Ashfaq Parvez Kayani on Wednesday said that the military has a clear stance against terrorism in the country. In a brief chat with media persons at the Aiwan-i-Sadr, General Kayani did not answer a number of questions, but said
Published 23 May, 2013 12:00am
SBP issues new guidelines: IBI to include Ijara Sukuk in Musharaka Pool

SBP issues new guidelines: IBI to include Ijara Sukuk in Musharaka Pool

The State Bank of Pakistan (SBP) on Wednesday allowed Islamic Banking Institutions (IBIs) to include Government of Pakistan (GoP) Ijara Sukuk in the Musharaka Pool (MP). According to IH&SMEFD Circular Letter No 05 on May 22, 2013 from now on, unencumbered
Published 23 May, 2013 12:00am
SBP issues new guidelines: IBI to include Ijara Sukuk in Musharaka Pool

SBP issues new guidelines: IBI to include Ijara Sukuk in Musharaka Pool

The State Bank of Pakistan (SBP) on Wednesday allowed Islamic Banking Institutions (IBIs) to include Government of Pakistan (GoP) Ijara Sukuk in the Musharaka Pool (MP). According to IH&SMEFD Circular Letter No 05 on May 22, 2013 from now on, unencumbered
Published 23 May, 2013 12:00am
THE RUPEE: Modest fall

THE RUPEE: Modest fall

The rupee fell modestly against the dollar on the interbank market while it was stable on the open market in the process of trading on Wednesday, dealers said. Some analysts attributed the rise in value of the dollar locally to widely appreciation in its
Published 23 May, 2013 12:00am
SBP issues new guidelines: IBI to include Ijara Sukuk in Musharaka Pool

SBP issues new guidelines: IBI to include Ijara Sukuk in Musharaka Pool

The State Bank of Pakistan (SBP) on Wednesday allowed Islamic Banking Institutions (IBIs) to include Government of Pakistan (GoP) Ijara Sukuk in the Musharaka Pool (MP). According to IH&SMEFD Circular Letter No 05 on May 22, 2013 from now on, unencumbered
Published 23 May, 2013 12:00am
THE RUPEE: Modest fall

THE RUPEE: Modest fall

The rupee fell modestly against the dollar on the interbank market while it was stable on the open market in the process of trading on Wednesday, dealers said. Some analysts attributed the rise in value of the dollar locally to widely appreciation in its
Published 23 May, 2013 12:00am
SBP issues new guidelines: IBI to include Ijara Sukuk in Musharaka Pool

SBP issues new guidelines: IBI to include Ijara Sukuk in Musharaka Pool

The State Bank of Pakistan (SBP) on Wednesday allowed Islamic Banking Institutions (IBIs) to include Government of Pakistan (GoP) Ijara Sukuk in the Musharaka Pool (MP). According to IH&SMEFD Circular Letter No 05 on May 22, 2013 from now on, unencumbered
Published 23 May, 2013 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 22, 2013).

Published 23 May, 2013 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 22, 2013).

Published 23 May, 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 (May 22, 2013).

Published 23 May, 2013 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (May 22, 2013).

Published 23 May, 2013 12:00am
Zardari, Nawaz agree to resolve issues jointly

Zardari, Nawaz agree to resolve issues jointly

President Asif Ali Zardari and Pakistan Muslim League-Nawaz (PML-N) Chief Nawaz Sharif held a meeting at the Presidency on Wednesday. During the meeting, both the leaders are said to have discussed the overall domestic situation. According to the sources,
Published 23 May, 2013 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (May 22, 2013).

Published 23 May, 2013 12:00am
Zardari, Nawaz agree to resolve issues jointly

Zardari, Nawaz agree to resolve issues jointly

President Asif Ali Zardari and Pakistan Muslim League-Nawaz (PML-N) Chief Nawaz Sharif held a meeting at the Presidency on Wednesday. During the meeting, both the leaders are said to have discussed the overall domestic situation. According to the sources,
Published 23 May, 2013 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 23 May, 2013 12:00am
London police launch probe against Altaf: Guardian

London police launch probe against Altaf: Guardian

The London Metropolitan police on Wednesday launched an investigation against Muttahida Qaumi Movement (MQM) Chief Altaf Hussain following complaints by PTI Chairman Imran Khan. According to a British newspaper, the Metropolitan police was investigating a
Published 23 May, 2013 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 23 May, 2013 12:00am
London police launch probe against Altaf: Guardian

London police launch probe against Altaf: Guardian

The London Metropolitan police on Wednesday launched an investigation against Muttahida Qaumi Movement (MQM) Chief Altaf Hussain following complaints by PTI Chairman Imran Khan. According to a British newspaper, the Metropolitan police was investigating a
Published 23 May, 2013 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (May 22, 2013).

Published 23 May, 2013 12:00am
Supreme Court urged to ban MQM

Supreme Court urged to ban MQM

The Supreme Court on Wednesday asked the Watan Party to seek clarity from the Election Commission of Pakistan as to who is officially leading the Muttahida Qaumi Movement (MQM) - Altaf Hussain or Farooq Sattar. A three-judge bench of the Chief Justice Ift
Published 23 May, 2013 12:00am
The Weather

The Weather

The weather report on Wednesday (May 22, 2013) and the forecast for Thursday (May 23, 2013).

Published 23 May, 2013 12:00am
Supreme Court urged to ban MQM

Supreme Court urged to ban MQM

The Supreme Court on Wednesday asked the Watan Party to seek clarity from the Election Commission of Pakistan as to who is officially leading the Muttahida Qaumi Movement (MQM) - Altaf Hussain or Farooq Sattar. A three-judge bench of the Chief Justice Ift
Published 23 May, 2013 12:00am
Judges' detention case: Musharraf's bail plea rejected

Judges' detention case: Musharraf's bail plea rejected

An Anti-Terrorism Court (ATC) on Wednesday dismissed former president and army chief Pervez Musharraf's bail plea in judge's detention case. The ATC judge, Kausar Abbas Zaidi rejected the bail plea after he heard the augments of both the parties. Amir Nad
Published 23 May, 2013 12:00am
Judges' detention case: Musharraf's bail plea rejected

Judges' detention case: Musharraf's bail plea rejected

An Anti-Terrorism Court (ATC) on Wednesday dismissed former president and army chief Pervez Musharraf's bail plea in judge's detention case. The ATC judge, Kausar Abbas Zaidi rejected the bail plea after he heard the augments of both the parties. Amir Nad
Published 23 May, 2013 12:00am
Peshawar administration seeks suggestions on rates for haircut, shave

Peshawar administration seeks suggestions on rates for haircut, shave

District administration, Peshawar has directed hairdressers for preparation of recommendation for fixation of official rate for haircut and shaves while consumers association will compile their proposals after conducting a formal survey in this regard.
Published 23 May, 2013 12:00am
DPPs asked to meet SPPs to improve performance

DPPs asked to meet SPPs to improve performance

Director General Prosecution Khyber Pakhtunkhwa has once again directed all the District Public Prosecutors (DPPs) across the province to hold meetings with Special Public Prosecutors working in their respective district to improve their overall performan
Published 23 May, 2013 12:00am
Gwadar to be linked with China via rail, road: official

Gwadar to be linked with China via rail, road: official

A pact has been signed for connecting Gwadar with China via rail, road and air routes, Pakistan's Foreign Secretary Jalil Abbas said on Wednesday. In a brief chat with media persons at the Aiwan-i-Sadr on Wednesday, he said that China will invest in Pakis
Published 23 May, 2013 12:00am
MQM worker among six killed in Karachi

MQM worker among six killed in Karachi

At least six persons, including an MQM worker, were killed in different incidents of violence in the city on Wednesday, police and rescue sources said. A man, whose identity could not be ascertained, was shot dead by unknown armed men in the Lea Market ar
Published 23 May, 2013 12:00am
Huge quantity of smuggled goods seized

Huge quantity of smuggled goods seized

Directorate General of Intelligence and Investigation Customs has checked misuse of the Afghan Transit Trade facility and intercepted consignments of cloth and consumer items, including air fresheners, toothbrush, hand blenders and other goods preventing
Published 23 May, 2013 12:00am
Need stressed to implement laws against harassment of women

Need stressed to implement laws against harassment of women

There is a dire need to implement laws against women harassment at workplace so that they could play their due role in the stream of national development in an effective manner. This was stated by Aima Mehmood, Executive Director of Working Women Organisa
Published 23 May, 2013 12:00am
PPP formally invited MQM to join Sindh government: Fahim

PPP formally invited MQM to join Sindh government: Fahim

President of Pakistan People's Party Parliamentarians (PPPP) Makhdoom Amin Fahim has said that his party has formally invited Muttahida Qaumi Movement (MQM) to join Sindh government the PPPP is going to form. The senior PPPP leader said that the people of
Published 23 May, 2013 12:00am
US-funded English language lab inaugurated

US-funded English language lab inaugurated

American Ambassador to Pakistan Richard Olson joined staff of the SOS Children's Village here on Wednesday to inaugurate a new English language laboratory, which has been established with the financial co-operation under the US Ambassador's Fund. The new
Published 23 May, 2013 12:00am
Imran Khan discharged from hospital

Imran Khan discharged from hospital

Chairman, Pakistan Tahreek-e-Insaf (PTI), Imran Khan, was discharged from Shaukat Khanum Memorial Hospital on Wednesday. He was admitted in the hospital after falling from a forklift at a PTI public gathering in Lahore on May 7 and sustained head and back
Published 23 May, 2013 12:00am
Dialogue with Taliban is prerogative of Pakistani government: Olson

Dialogue with Taliban is prerogative of Pakistani government: Olson

US Ambassador to Pakistan Richard Olson has said that holding dialogue with Taliban is the prerogative of Pakistani government. Talking to media here on Wednesday, said that any reservations regarding the proposed talks would depend on terms and condition
Published 23 May, 2013 12:00am
PSM's woes: MoP presents three options

PSM's woes: MoP presents three options

Ministry of Production (MoP) has reportedly presented three options to the government to stop the unending bleeding of financial resources in Pakistan Steel Mills (PSM), well informed sources told Business Recorder. "We have proposed to the Prime M
Published 23 May, 2013 12:00am
UNIDO, UVAS discuss launch of e-courses

UNIDO, UVAS discuss launch of e-courses

The United Nations Industrial Development Organisation (UNIDO) and the University of Veterinary and Animal Sciences (UVAS) Lahore have discussed possibilities of launching e-courses for the capacity building of farmers. A two-member UNIDO delegation led b
Published 23 May, 2013 12:00am
LTIA to launch protest against power outages

LTIA to launch protest against power outages

Lahore Township Industries Association (LTIA) decides to launch protest against unscheduled prolonged power outages. The decision to this regard was taken at a meeting here on Wednesday. Chairman LTIA Nasrullah Mughal presided over the meeting while PIAF
Published 23 May, 2013 12:00am
Gas supply to Faisalabad industries suspended for one week

Gas supply to Faisalabad industries suspended for one week

Sui Northern Gas Pipelines Limited (SNGPL) has suspended gas supply to Faisalabad industries from May 21 to 27, which will badly affect the textile industries facing severe loadshedding of electricity and thousands of workers become jobless for another on
Published 23 May, 2013 12:00am
'Adequate efforts are needed to boost Pak-South African trade ties'

'Adequate efforts are needed to boost Pak-South African trade ties'

South African High Commissioner to Pakistan Mpendula Kumalo has said that adequate efforts would be made to boost trade, economic and investment relations between South Africa and Pakistan. Addressing the members of Sialkot Chamber of Commerce and Industr
Published 23 May, 2013 12:00am
Power situation yet dismal

Power situation yet dismal

Power situation remained dismal on Wednesday despite reports of release of Rs 22 billion by the Ministry of Finance. The residents of Mozang, a dense area with majority of PML-N supporters, agitated against unannounced loadshedding in the city. For the fi
Published 23 May, 2013 12:00am
UAF to set up a biodiversity park

UAF to set up a biodiversity park

University of Agriculture Faisalabad (UAF) is going to set up a Biodiversity Park aiming at sensitising the youth and other stakeholders about the hazardous effects of biodiversity imbalance caused by human malpractices with the nature. The assertion was
Published 23 May, 2013 12:00am
Measles claims three more lives in Lahore

Measles claims three more lives in Lahore

There is no let up in spread of measles, as three more children died of measles here in the Children's Hospital on Wednesday. These casualties have brought the total number of deaths due to the disease of measles to 61 in Lahore and 84 in Punjab so far, s
Published 23 May, 2013 12:00am
JI seeks local bodies' polls within three months

JI seeks local bodies' polls within three months

The central political committee of the Jamaat-i-Islami has called upon the newly elected governments to ensure local bodies elections within next three months for the expeditious solution of local issues.
Published 23 May, 2013 12:00am
Palm oil climbs

Palm oil climbs

Malaysian palm oil futures rose to the highest in more than one month on Wednesday, as investors pinned their hopes on demand recovery ahead of the Muslim holy month of Ramazan. Market participants are counting on restocking ahead of the holy month, which
Published 23 May, 2013 12:00am
Shezan International Limited

Shezan International Limited

Incorporated in Pakistan in 1964, Shezan was initially a joint venture between Shahnawaz Group and the Alliance Development Corporation of USA. Mainly engaged in the manufacturing, and selling of juices, pickles, jams and ketchups, the company has been co
Published 23 May, 2013 12:00am
Shezan International Limited

Shezan International Limited

Incorporated in Pakistan in 1964, Shezan was initially a joint venture between Shahnawaz Group and the Alliance Development Corporation of USA. Mainly engaged in the manufacturing, and selling of juices, pickles, jams and ketchups, the company has been co
Published 23 May, 2013 12:00am
Obtaining GSP Plus status a challenge for new government: Prgmea

Obtaining GSP Plus status a challenge for new government: Prgmea

Pakistan Ready-made Garments Manufacturers and Exporters Association (Prgmea) said on Wednesday that the PML-N government should make it a top priority for obtaining Generalised System of Preferences (GSP) Plus status for Pakistan to strengthen the countr
Published 23 May, 2013 12:00am
SHC stops notification on PS-93

SHC stops notification on PS-93

The Sindh High Court on Wednesday asked the Election Commission to stop a notification about PTI candidate's victory in PS-93, Karachi. The order was issued in response to a petition jointly filed by Jamaat-i-Islami (JI) and Pakistan Muslim League-Nawaz (
Published 23 May, 2013 12:00am
Irsa releases 234,000 cusecs of water to meet demands of provinces

Irsa releases 234,000 cusecs of water to meet demands of provinces

The Indus River System Authority (Irsa) on Wednesday released 234,000 cusecs water in the canal irrigation network across the country to meet water needs of the provinces for sowing/growing strategic Kharif crops including cotton, rice and sugarcane, vege
Published 23 May, 2013 12:00am
'Government committed to enforce IPRs'

'Government committed to enforce IPRs'

The Director General IPO-Pakistan Tarik Feroze has said the government is committed to protect and vigorously enforce Intellectual Property Rights (IPR's) besides providing a congenial and protected environment to improve the image of Pakistan as a respon
Published 23 May, 2013 12:00am
Elimination of loadshedding PML-N government's top priority: Hamza

Elimination of loadshedding PML-N government's top priority: Hamza

PML-N MNA-elect Hamza Shahbaz Sharif has said that the Lahorites have fulfilled their obligation by giving decision in favour of Pakistan Muslim League-N in the general elections and now our party will discharge its responsibility by providing all basic f
Published 23 May, 2013 12:00am
Independent candidate joins PTI

Independent candidate joins PTI

Sardar Malik Shad Muhammad, an independent candidate from PK-72 Bannu, has announced to joining of Pakistan Tehrik-e-Insaf and promised to set up a university in Bannu on the pattern of Al-shifa Trust Eye Hospital. He thanked President of Al-Shifa Trust E
Published 23 May, 2013 12:00am
Commercial plantation: farmers reiterate demand for approving GM corn

Commercial plantation: farmers reiterate demand for approving GM corn

Farmers of corn growing areas have reiterated their demand with the government to approve genetically modified corn for commercial plantation in Pakistan as this technology seems to have the potential to reduce the losses caused by various insects and wee
Published 23 May, 2013 12:00am
Municipal staff directed to ensure sanitation in Matiari

Municipal staff directed to ensure sanitation in Matiari

The Deputy Commissioner Matiari Fayaz Hussain Abbasi has warned the Taluka Municipal Administration Matiari to ensure cleanliness in the town within three days with full attendance of sanitary workers in the field failing which action will be taken agains
Published 23 May, 2013 12:00am
US MIDDAY: gold slides

US MIDDAY: gold slides

Gold turned sharply lower early on Wednesday, as investors weighed US Federal Reserve Chairman Ben Bernanke's congressional testimony warning of risks to holding interest rates too low for too long and opened the possibility of reducing bond purchases. In
Published 23 May, 2013 12:00am
US MIDDAY: corn and wheat rebound

US MIDDAY: corn and wheat rebound

US corn and wheat futures rallied on Wednesday on a bargain-buying bounce after prices fell to multiweek lows earlier this week, traders said. Soyabean futures also rose, following the strength in grains, with the front-month contract posting its fifth st
Published 23 May, 2013 12:00am
Gold erases gains after Bernanke comments

Gold erases gains after Bernanke comments

Gold was flat on Wednesday, giving up earlier gains after US Federal Reserve Chairman Ben Bernanke warned of the risks of holding interest rates too low for too long, which boosted the dollar. Spot gold had briefly broken above $1,400 to a one-week high o
Published 23 May, 2013 12:00am
Gold gains in Asia

Gold gains in Asia

Gold rose on Wednesday on strong Chinese demand and after Federal Reserve officials allayed investor concerns that the US central bank will soon exit its bullion-friendly bond purchases. Spot gold rose 0.2 percent to $1,378.29 an ounce by 0628 GMT, but re
Published 23 May, 2013 12:00am
Gold cuts losses in New York

Gold cuts losses in New York

Gold trimmed its losses on Tuesday as the euro regained strength against the dollar, but the metal remained lower on weak chart signs and fears the US Federal Reserve will wind down its economic stimulus programme. On Monday gold slid to $1,338.95, its we
Published 23 May, 2013 12:00am
ICE coffee tumbles

ICE coffee tumbles

ICE arabica coffee futures tumbled to the lowest level in more than three years on Wednesday, as a speculator selloff extended recent losses seen on ample supplies and a favourable crop outlook in top producer Brazil, dealers said. Raw sugar futures on IC
Published 23 May, 2013 12:00am
Seven dead in Afghan suicide blast

Seven dead in Afghan suicide blast

A teenage suicide bomber killed seven people in central Afghanistan on Wednesday when he targeted local fighters who battle against Taliban insurgents, officials said. The attacker detonated himself in a market place in Ghazni province, two days after ano
Published 23 May, 2013 12:00am
'Exhausted' Karzai says he is to retire in 2014

'Exhausted' Karzai says he is to retire in 2014

Afghan President Hamid Karzai said Wednesday that he was 'exhausted' and wanted to retire from politics at the end of his current term. Afghanistan is set to hold elections for a new president in April 2014. Karzai has been in office since 2001, after the
Published 23 May, 2013 12:00am
Merkel still the most powerful woman in the world

Merkel still the most powerful woman in the world

German Chancellor Angela Merkel has maintained her position as the most powerful woman in the world, in a ranking published Wednesday by Forbes magazine. Merkel has held the number one position on the Forbes list of the 100 most powerful women in the worl
Published 23 May, 2013 12:00am
Stockholm riots spread as Prime Minister slams 'hooliganism'

Stockholm riots spread as Prime Minister slams 'hooliganism'

Rioting spread across Stockholm's suburbs early Wednesday in the third night of unrest to hit the Swedish capital, as Prime Minister Fredrik Reinfeldt blamed the violence on "hooliganism" and appealed for calm. "In the past 24 hours, around 30 cars have b
Published 23 May, 2013 12:00am
Mugabe signs new Zimbabwe constitution into law

Mugabe signs new Zimbabwe constitution into law

President Robert Mugabe signed Zimbabwe's new constitution into law Wednesday, clearing the path to crucial elections later this year. The 89-year-old, who has ruled Zimbabwe since independence from Britain in 1980, signed the document two months after it
Published 23 May, 2013 12:00am
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