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Nov 23, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2013-07-21
India police agency says Wal-Mart violated investment rules

India police agency says Wal-Mart violated investment rules

Wal-Mart Stores Inc violated Indian rules governing foreign investment, the country's top police agency said in a letter to a member of parliament seen by Reuters. The Central Bureau of Investigation (CBI) said in the letter that according to its analysis
Published 21 Jul, 2013 12:00am
Interpublic to cut costs as Europe advertising declines

Interpublic to cut costs as Europe advertising declines

Interpublic Group of Cos, home to advertising agencies McCann Erickson and Draftfcb, said it would focus on cutting costs after reporting a lower-than-expected second-quarter profit due to steep declines in ad spending in Europe. While Europe remained wea
Published 21 Jul, 2013 12:00am
Interpublic to cut costs as Europe advertising declines

Interpublic to cut costs as Europe advertising declines

Interpublic Group of Cos, home to advertising agencies McCann Erickson and Draftfcb, said it would focus on cutting costs after reporting a lower-than-expected second-quarter profit due to steep declines in ad spending in Europe. While Europe remained wea
Published 21 Jul, 2013 12:00am
Japanese investors buy most foreign bonds since 'Abenomics'

Japanese investors buy most foreign bonds since 'Abenomics'

Japanese investors were net buyers of foreign bonds for a second straight week last week by purchasing the largest amount since September 2012, indicating they may be starting to seek higher returns overseas, after the Bank of Japan's radical easing. Shou
Published 21 Jul, 2013 12:00am
Japanese investors buy most foreign bonds since 'Abenomics'

Japanese investors buy most foreign bonds since 'Abenomics'

Japanese investors were net buyers of foreign bonds for a second straight week last week by purchasing the largest amount since September 2012, indicating they may be starting to seek higher returns overseas, after the Bank of Japan's radical easing. Shou
Published 21 Jul, 2013 12:00am
Higher interest rates? Not a problem for some US stocks

Higher interest rates? Not a problem for some US stocks

So much for higher interest rates taking a bite out of the stock market. Bond yields have risen sharply in the last two months, but the US stock market has more than survived, with the S&P 500 and Dow industrials notching new all-time highs this week. Rat
Published 21 Jul, 2013 12:00am
Portuguese bonds shine on bets of broad political deal

Portuguese bonds shine on bets of broad political deal

Portuguese government bonds outpaced their euro zone peers on Friday, with investors optimistic the three main political parties will reach a deal over the weekend to keep the country's bailout programme on track. The two parties of the centre-right rulin
Published 21 Jul, 2013 12:00am
Portuguese bonds shine on bets of broad political deal

Portuguese bonds shine on bets of broad political deal

Portuguese government bonds outpaced their euro zone peers on Friday, with investors optimistic the three main political parties will reach a deal over the weekend to keep the country's bailout programme on track. The two parties of the centre-right rulin
Published 21 Jul, 2013 12:00am
Financial shares drag South African stocks lower

Financial shares drag South African stocks lower

South African stocks ended lower on Friday with financial shares slipping on views the US Federal Reserve would slow down a monetary easing programme that has boosted emerging market assets. US data released late on Thursday painted a positive picture for
Published 21 Jul, 2013 12:00am
Latam currencies weaken in synch with Wall Street

Latam currencies weaken in synch with Wall Street

Most Latin American currencies weakened on Friday as investors' appetite ebbed in synch with a retreat on Wall Street, where key US stock indexes slipped from recent records. Latin American currencies have gained this week as US Federal Reserve Chairman B
Published 21 Jul, 2013 12:00am
Resource shares push TSX to seven-week high

Resource shares push TSX to seven-week high

Canada's main stock index climbed to its highest level in more than 1-1/2 months on Friday, ending the week higher after a rise in commodity prices buoyed shares of natural resource companies and boosted market sentiment. The Toronto index's weekly gain,
Published 21 Jul, 2013 12:00am
Nasdaq, Dow slip on tech weakness, S&P 500 edges up

Nasdaq, Dow slip on tech weakness, S&P 500 edges up

The Dow and Nasdaq stock gauges fell on Friday as disappointing results from Microsoft and Google dragged on the market, while the S&P 500 index edged up to end at a second straight record high. Stronger-than-expected results from General Electric Co and
Published 21 Jul, 2013 12:00am
Short rupiah positions at near five-year high; bearish rupee bets rise

Short rupiah positions at near five-year high; bearish rupee bets rise

Short positions in the Indonesian rupiah and the Indian rupee increased during the past two weeks despite authorities' steps to stabilise those currencies, while sentiment on other emerging Asian currencies became less bearish, a Reuters poll showed. Bear
Published 21 Jul, 2013 12:00am
Dollar slips against yen ahead of Japan's vote

Dollar slips against yen ahead of Japan's vote

The dollar slipped against the yen in late trade on Friday ahead of elections for Japan's upper house Sunday which could add momentum to Prime Minister Shinzo Abe's aggressive push for monetary easing to lift growth and fight deflation. Earlier the dollar
Published 21 Jul, 2013 12:00am
Latam currencies weaken in synch with Wall Street

Latam currencies weaken in synch with Wall Street

Most Latin American currencies weakened on Friday as investors' appetite ebbed in synch with a retreat on Wall Street, where key US stock indexes slipped from recent records. Latin American currencies have gained this week as US Federal Reserve Chairman B
Published 21 Jul, 2013 12:00am
Key Euribor rate steadies

Key Euribor rate steadies

The key Euribor bank-to-bank lending rate was unchanged on Friday, continuing its recent holding pattern after key European Central Bank policymakers qualified the bank's use of forward guidance on low interest rates. Abandoning its traditional policy of
Published 21 Jul, 2013 12:00am
Speculators raise US dollar bets to highest in six weeks

Speculators raise US dollar bets to highest in six weeks

Currency speculators boosted their bets in favour of the US dollar to the highest in six weeks, according to data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net long position rose to $29.61 billion in the w
Published 21 Jul, 2013 12:00am
African currencies outlook: Kenya, Tanzania shillings seen under strain

African currencies outlook: Kenya, Tanzania shillings seen under strain

Kenya and Tanzania's shillings are expected to come under pressure in the week ahead on importer demand for dollars, while in Nigeria the naira should stabilise on renewed offshore investor demand for local debt. Kenya's shilling is expected to weaken gra
Published 21 Jul, 2013 12:00am
Canadian dollar gains

Canadian dollar gains

The Canadian dollar ended slightly stronger against its US counterpart in subdued trading on Friday, even as Canadian inflation data came in a little weaker than expected. The loonie, as Canada's currency is colloquially known, gained less than 0.3 percen
Published 21 Jul, 2013 12:00am
Barcelona looking to move on after Vilanova exit

Barcelona looking to move on after Vilanova exit

Barcelona were mourning the enforced exit of ailing coach Tito Vilanova on Saturday but there was also a sense the Spanish champions were prepared to move swiftly to appoint a successor and focus on preparations for next season. President Sandro Rosell ma
Published 21 Jul, 2013 12:00am
Tunisian Mellouli makes history in open water

Tunisian Mellouli makes history in open water

Tunisia's Oussama Mellouli became the first swimmer to win Olympic and world titles in both the pool and open water when he sprinted to a narrow victory in the 5-km event in Barcelona on Saturday. The 29-year-old North African powered around the two laps
Published 21 Jul, 2013 12:00am
West Indies, Pakistan tie third ODI

West Indies, Pakistan tie third ODI

Pakistan wicketkeeper Umar Akmal missed a run-out opportunity and the West Indies last-wicket pair of Kemar Roach and Jason Holder scrambled two runs off the final ball to tie the third one-day international Friday.
Published 21 Jul, 2013 12:00am
Liverpool loan Reina to Napoli

Liverpool loan Reina to Napoli

Liverpool goalkeeper Pepe Reina is to be loaned out to Serie A side Napoli next season where he'll be reunited with former Reds coach Rafael Benitez, the Liverpool Echo reported Friday. The 30-year-old Spaniard has spent eight years at Anfield but the arr
Published 21 Jul, 2013 12:00am
Serena into Swedish Open final

Serena into Swedish Open final

World number one Serena Williams cruised into the final of the Swedish Open in Bastad on Saturday, brushing aside Klara Zakopalova of the Czech Republic in straight sets. Williams showed little mercy as she swept to a 6-4, 6-0 victory to set up a clash wi
Published 21 Jul, 2013 12:00am
Federer beaten by world number 114 in Hamburg

Federer beaten by world number 114 in Hamburg

Roger Federer was stunned by Argentine qualifier Federico Delbonis, the world number 114, in the Hamburg claycourt semi-finals Saturday as the 17-time Grand Slam title winner suffered another worrying loss. The former world number one went down 7-6 (9/7),
Published 21 Jul, 2013 12:00am
Sangakkara blitz helps Sri Lanka crush South Africa

Sangakkara blitz helps Sri Lanka crush South Africa

Kumar Sangakkara smashed his highest one-day score of 169 off 137 balls as Sri Lanka thrashed South Africa by 180 runs in the first one-day international in Colombo on Saturday. The veteran left-hander's 16th one-day century steered Sri Lanka to a command
Published 21 Jul, 2013 12:00am
Westwood surges clear at British Open

Westwood surges clear at British Open

Englishman Lee Westwood recovered from an early bogey to surge three shots clear early in the third round of a gripping British Open on Saturday. Westwood, bidding for a first major triumph at the 62nd time of asking, played the long par-five fifth to per
Published 21 Jul, 2013 12:00am
Root century overpowers hapless Australia

Root century overpowers hapless Australia

Joe Root's unbeaten 178 left Australia needing to make cricket history if they were to prevent England going 2-0 up with three to play in the Ashes. England were 333 for five in their second innings, a colossal lead of 566 runs, at stumps on the third day
Published 21 Jul, 2013 12:00am
Three Britons freed from Dubai after being jailed for drugs

Three Britons freed from Dubai after being jailed for drugs

Three Britons jailed for more than a year in Dubai on drugs charges have been freed as part of an amnesty for Ramazan, a British legal charity said on Saturday. The three were sentenced to four years in jail in April, and said they had been tortured follo
Published 21 Jul, 2013 12:00am
Pierre Fabre, founder of pharmaceutical giant, dies

Pierre Fabre, founder of pharmaceutical giant, dies

Pierre Fabre, founder of the eponymous pharmaceutical and cosmetics giant, died Saturday at his home in south-western France, aged 87, a source close to the company said. The company which he founded in 1962 employs 10,000 people - 6,700 in France - and h
Published 21 Jul, 2013 12:00am
Syrian rebels advance on northern army-held town

Syrian rebels advance on northern army-held town

Syrian rebels advanced on the northern town of Khan al-Assal on Saturday, activists said, and appeared close to seizing one of the last towns in western part of Aleppo province still held by President Bashar al-Assad's forces. The army has been attempting
Published 21 Jul, 2013 12:00am
India sentences to life six men in Swiss gang-rape case

India sentences to life six men in Swiss gang-rape case

Six men accused in the gang-rape and robbery of a 39-year-old Swiss woman cyclist holidaying in India were sentenced to life terms Saturday by a fast-track Indian court. "All the accused have been convicted and we are satisfied with the judgement," said t
Published 21 Jul, 2013 12:00am
Israel, Palestinians still at odds over borders

Israel, Palestinians still at odds over borders

Israel will not bow to the Palestinians' demand on the borders of their future state before peace talks begin but will meet their request for the release of some prisoners, Israeli officials said on Saturday. US Secretary of State John Kerry said on Frida
Published 21 Jul, 2013 12:00am
Turkish police fire water cannon on protesters

Turkish police fire water cannon on protesters

Turkish police fired water cannon on Saturday to disperse hundreds of protesters who gathered to march to Gezi Park in central Istanbul, which has been at the heart of fierce demonstrations against Prime Minister Erdogan's rule. Saturday's protests were t
Published 21 Jul, 2013 12:00am
Influential British comedian Mel Smith dies

Influential British comedian Mel Smith dies

British comedian Mel Smith, who became a household name in Britain for a series of television sketch shows in the 1970s and 80s which colleagues said had inspired a generation of comics, has died of a heart attack, his agent said on Saturday. Smith, who d
Published 21 Jul, 2013 12:00am
Egyptian forces raid office of Iranian TV channel

Egyptian forces raid office of Iranian TV channel

Egyptian security forces raided the office of the Iranian Al Alam Arabic language satellite channel in Cairo and detained its director, the outlet reported on Saturday. "The security forces also seized equipment and devices from the channel without giving
Published 21 Jul, 2013 12:00am
North Korea awards late leader new order ahead of anniversary

North Korea awards late leader new order ahead of anniversary

North Korea has awarded late leader Kim Jong-Il a new medal, state media said Saturday, as Pyongyang gears up to mark 60 years since the Korean War ended. The presidium of the Supreme People's Assembly, or parliament, passed the order on Kim - who died of
Published 21 Jul, 2013 12:00am
Karzai decree takes Afghanistan closer to polls

Karzai decree takes Afghanistan closer to polls

President Hamid Karzai on Saturday approved a second law designed to pave the way for smooth transition of power in Afghanistan next year, easing Western concerns that key elections could be delayed. Karzai's signature on the law, which determines how pre
Published 21 Jul, 2013 12:00am
North Korean ship was carrying sugar donation, Cuba told Panama

North Korean ship was carrying sugar donation, Cuba told Panama

When a North Korean ship carrying Cuban arms was seized last week in Panama on suspicion of smuggling drugs, Cuba first said it was loaded with sugar for the people of North Korea, according to a Panamanian official familiar with the matter. Cuban officia
Published 21 Jul, 2013 12:00am
Briton held in China amid GSK bribery inquiry

Briton held in China amid GSK bribery inquiry

Chinese authorities have arrested a British contractor as part of an inquiry linked to allegations of bribery and corruption at drugmaker GlaxoSmithKline, Britain's foreign office and a source familiar the matter said on Saturday. Earlier this week Chines
Published 21 Jul, 2013 12:00am
Kenya slashes 2012-13 coffee output, earnings projections

Kenya slashes 2012-13 coffee output, earnings projections

Kenya has lowered its coffee production and export earnings projections for the 2012/13(October-September) coffee year due to poor global prices and reduced crop acreage, the industry regulator said on Friday. Although the east Africa nation is a small co
Published 21 Jul, 2013 12:00am
Asian rice prices fall ahead of Thai government sales

Asian rice prices fall ahead of Thai government sales

Thai rice prices have slipped ahead of a government sale of grain from its stockpiles, which is likely to push prices down further in coming weeks if, as expected, the need for quick cash sees authorities to accept low bids. The price of 5 percent broken
Published 21 Jul, 2013 12:00am
ICE Futures US says to launch world cotton contract

ICE Futures US says to launch world cotton contract

The IntercontinentalExchange plans to launch a new global cotton contract to run in conjunction with the existing benchmark No 2 contract, ICE Futures US President and Chief Operating Officer Ben Jackson said on Monday. The exchange has "engaged in in-dep
Published 21 Jul, 2013 12:00am
ICE cotton futures climb for second session on investor buying

ICE cotton futures climb for second session on investor buying

ICE cotton rose on Friday as investor buying lifted fibre to its biggest two-day rally since mid-June and also to a weekly gain despite losses earlier in the week. The most-active December cotton contract on ICE Futures US closed up 1.33 cent, or 1.6 perc
Published 21 Jul, 2013 12:00am
Egypt seeks wheat shipment

Egypt seeks wheat shipment

Egypt's main wheat-buying agency, the General Authority for Supply Commodities (GASC), set a tender on Wednesday to buy an unspecified amount of wheat from global suppliers for shipment August 21-31. It was the group's second international tender since Fe
Published 21 Jul, 2013 12:00am
China plans gradual reduction of cotton stocks

China plans gradual reduction of cotton stocks

China plans to reduce its growing cotton inventories in the next three or more years, the general counsel for China National Cotton Reserves Corp (CNCRC), the country's state-owned reserve, said on Monday. At a cotton conference in New York on Monday, CNC
Published 21 Jul, 2013 12:00am
Kazakhstan to harvest 15 million tonnes of grain this year

Kazakhstan to harvest 15 million tonnes of grain this year

Kazakhstan, central Asia's largest grain producer, is expected to harvest around 15 million tonnes of grain by bunker weight this year, a senior Agriculture Ministry official said on Tuesday, giving the first official estimate of the crop. "We believe tha
Published 21 Jul, 2013 12:00am
New York gold up second straight week

New York gold up second straight week

Gold rose on Friday to notch its second weekly gain after many investors were soothed by the Federal Reserve's assurance this week that it will be careful in tapering its economic stimulus, although some braced for another decline in bullion. Gold emerged
Published 21 Jul, 2013 12:00am
Gold futures hiccup indicates demand outpacing supply

Gold futures hiccup indicates demand outpacing supply

A dislocation in the gold futures market indicating that demand for physical delivery of the metal is now far outweighing supply has intensified in recent weeks, increasing concern in the market that the change may not be a momentary blip and participants
Published 21 Jul, 2013 12:00am
Commodity prices experience mixed week

Commodity prices experience mixed week

Global commodity prices diverged this week as traders bet on a rosier economic outlook for the United States amid mixed signals surrounding Chinese growth.
Published 21 Jul, 2013 12:00am
IMF loan

IMF loan

It is important to note that the IMF has raised its loan amount to $6.5 billion from $5.3 billion that it had initially offered to Pakistan. According to the present government, this loan has been primarily taken to repay earlier IMF loan that its predece
Published 21 Jul, 2013 12:00am
Microsoft plummets: 'Welcome to the post-PC era'

Microsoft plummets: 'Welcome to the post-PC era'

Shares in Microsoft plummeted Friday as investors reacted badly to a poor earnings report that reflected the company's difficulties adapting to a technology market ruled by mobile devices and smartphones. Shares in the company, once the world's most valua
Published 21 Jul, 2013 12:00am
Detroit filing sends benefits' warning to other cities

Detroit filing sends benefits' warning to other cities

Many US cities have a much better economic outlook than struggling Detroit, but the Motor City's bankruptcy filing on Thursday should still set off alarm bells elsewhere as the cost of paying retirement benefits swells. In recent decades, many municipalit
Published 21 Jul, 2013 12:00am
Shipbuilding

Shipbuilding

The origins of this particular write up emanate from a chance encounter with a naval officer, and a gentleman, who in his career had an opportunity to experience commercial as well as naval maritime at close quarters. Initially, one must confess, his pass
Published 21 Jul, 2013 12:00am
Tackling sectarian terrorism in Balochistan

Tackling sectarian terrorism in Balochistan

Balochistan Chief Secretary Babar Yaqoob Fateh Mohammad told a three-member Supreme Court bench hearing a petition, filed by Balochistan High Court Bar Association, on the law and order situation in the province that the number of criminal elements in sec
Published 21 Jul, 2013 12:00am
Cut in global growth

Cut in global growth

The latest update of the IMF's World Economic Outlook released recently reveals some disturbing trends. The world economy is now projected to grow at 3.1 percent this year as against the April projection of 3.3 percent. The forecast for 2014 has also been
Published 21 Jul, 2013 12:00am
Admission in MPhil programme only on merit: PU

Admission in MPhil programme only on merit: PU

Punjab University will strictly follow the merit policy of the Higher Education Commission and PU Doctoral Program Co-ordination Committee regarding admission in their M. Phil programs. According to the spokesperson of the PU, a committee including dean o
Published 21 Jul, 2013 12:00am
Rain, drainage water Hamza visits low-lying areas

Rain, drainage water Hamza visits low-lying areas

PML-N Central leader and MNA Hamza Shahbaz Sharif visited various low-lying areas after heavy rain and reviewed the drainage of rainy water on Saturday. Provincial Food Minister Bilal Yaseen, Commissioner Lahore, MD WASA and other concerned officers accom
Published 21 Jul, 2013 12:00am
Energy crisis can lead to government's exit: JI

Energy crisis can lead to government's exit: JI

Secretary-General, Jamaat-i-Islami, Liaqat Baloch has said that the energy crisis could lead to the end of the present government. Addressing an Iftar dinner in the city, he said that the people had high expectations from the government but they were gett
Published 21 Jul, 2013 12:00am
Former UK MP Chaudhry Sarwar arrives

Former UK MP Chaudhry Sarwar arrives

Former British MP of Labour party Chaudhry Muhammad Sarwar, after surrendering his UK nationality, arrived here on Saturday to take an important assignment to be given by Prime Minister Nawaz Sharif. Chaudhry Muhammad Sarwar is among those candidates who
Published 21 Jul, 2013 12:00am
JI denounces FO remarks on Bangladesh leaders' trials

JI denounces FO remarks on Bangladesh leaders' trials

Ameer, Jamaat-i-Islami Syed Munawar Hasan has strongly condemned the Foreign Office (FO) statement describing the convictions of JI leaders in Bangladesh as internal issue of that country, and said this was something most shameful and shocking. In a state
Published 21 Jul, 2013 12:00am
CAP to elect new office-bearers on September 16

CAP to elect new office-bearers on September 16

Constructors' Association of Pakistan (CAP) announced to hold elections for its new office-bearers on September 16, 2013. Prior to this elections for 9 vacant seats of Corporate and 4 vacant seats of Associate members for the term of 2013-15 will be held
Published 21 Jul, 2013 12:00am
Government considering setting up energy fund to resolve crisis: Shahbaz

Government considering setting up energy fund to resolve crisis: Shahbaz

Punjab Chief Minister Muhammad Shahbaz Sharif on Saturday said that every possible option is being utilised for resolving energy crisis and government is also considering setting up energy fund in this regard. He said that energy projects would be complet
Published 21 Jul, 2013 12:00am
Rs 150 million allocated to Punjab drug, food testing laboratories

Rs 150 million allocated to Punjab drug, food testing laboratories

Punjab Finance Minister Mujtaba Shujaur Rehman has said that three Drug Testing Laboratories (DTL) are being established at Multan, Rawalpindi and Lahore besides two Food Testing Laboratories will be setup at Faisalabad and Rawalpindi and the Punjab gover
Published 21 Jul, 2013 12:00am
Delimitation is provincial government's responsibility: EC Punjab

Delimitation is provincial government's responsibility: EC Punjab

Punjab Election Commission on Saturday said the delimitation of constituencies for local government polls not comes into its domain and it is responsibility of the provincial government. Provincial Election Commissioner Mehboob Anwar talking to a private
Published 21 Jul, 2013 12:00am
ECP can't change date for Presidential election: Aitzaz

ECP can't change date for Presidential election: Aitzaz

Senator Aitzaz Ahsan on Saturday said the Election Commission cannot change the date for President's election. He was talking to media in the city. It may be noted that the government requested the Election Commission to change the date of elections from
Published 21 Jul, 2013 12:00am
Three policemen suspended

Three policemen suspended

Superintendent Police Madina Town Nasir Sial has suspended three police officials on the charge of absent from duty. A spokesman of police department told here Saturday that the Superintendent Police conducted a surprise visit to Madina Town police statio
Published 21 Jul, 2013 12:00am
Old rivalry claims lives of father, son

Old rivalry claims lives of father, son

Two persons, including father and a son were killed in firing of armed men hailing from rival group here late on Friday night. According to police, Maulvi Ramazan and his son Ameer Hamza, hailing from Batapur's village Atokey Awan riding motorcycles were
Published 21 Jul, 2013 12:00am
LCCI seeks proposals to improve traffic

LCCI seeks proposals to improve traffic

The Lahore Chamber of Commerce and Industry (LCCI) has sought proposals from all the city markets' associations for improving traffic plying on the roads. The decision to seek suggestions from the business community was taken by the LCCI President Farooq
Published 21 Jul, 2013 12:00am
Unions oppose proposed privatisation of PIA

Unions oppose proposed privatisation of PIA

The unions and associations of PIA employees under the banner of Joint Action Committee of Pakistan International Airlines Employees (JACPIAE) have announced that they would stage protest against what they said conspiracies being hatched to grab the asset
Published 21 Jul, 2013 12:00am
SSGC unearths gas theft in Mehran Town

SSGC unearths gas theft in Mehran Town

SSGC's Surveillance and Monitoring Department (S&M) recently undertook a major raid on direct use of gas in Mehran Town located in Karachi's Korangi Industrial Area. The S&M field staff observed that approximately 50 to 60 meters were installed through wh
Published 21 Jul, 2013 12:00am
Farmers advised to irrigate cotton, sugarcane crops

Farmers advised to irrigate cotton, sugarcane crops

Keeping in view the dry spell in the lower half of the country, the Met Office has advised farmers to irrigate their cotton and sugarcane crops according to requirements. "Due to dry weather in lower half of the country during the decade, farmers of cotto
Published 21 Jul, 2013 12:00am
Clerk given award of best staff member

Clerk given award of best staff member

Commissioner Karachi Shoaib Ahmed Siddiqui has said that the efficient and dutiful staff are always respected and held in high esteem making themselves examples for others to follow. He was speaking at a function held here at his office on Saturday to giv
Published 21 Jul, 2013 12:00am
Surge in crimes witnessed in Karachi as Eid draws near

Surge in crimes witnessed in Karachi as Eid draws near

A surge in criminal activities to dangerous extent in country's business hub Karachi has been witnessed in the midst of Ramazanul Mubarak. According to details, the crime rate in city has also increased with the end of first 10 days of Ramazan and people
Published 21 Jul, 2013 12:00am
Seventeen districts of Balochistan still without electricity

Seventeen districts of Balochistan still without electricity

Seventeen districts of Balochistan, including Quetta, are still without electricity on Saturday. Furthermore, no security clearance hindering restoration of electricity to the 17 districts of the province has been given. Failure to achieve security cleara
Published 21 Jul, 2013 12:00am
CIMA, CIPD announce new strategic collaboration in finance, HR

CIMA, CIPD announce new strategic collaboration in finance, HR

The Chartered Institute of Management Accountants (CIMA) and the Chartered Institute of Personnel and Development (CIPD) have announced a major new strategic collaboration to foster closer working links between the finance and HR professions, helping to i
Published 21 Jul, 2013 12:00am
OPIC offers investment, financing to Pakistani companies

OPIC offers investment, financing to Pakistani companies

Ms Elizabeth L Littlefield, President and Chief Executive Officer of OPIC (US Overseas Private Investment Corporation) and Richard Olson, United States Ambassador to Pakistan visited Karachi and met with business community during a briefing session on "Mo
Published 21 Jul, 2013 12:00am
Two men killed in Kuchlak clash

Two men killed in Kuchlak clash

At least two men were killed in a clash in Kuchlak area, on Saturday. The police said two armed groups exchanged fire over a petty issue that left two persons dead. The deceased were identified as Kamalud Din and Akhtar Khan. The police have registered a
Published 21 Jul, 2013 12:00am
Two IHC benches for next week

Two IHC benches for next week

Chief Justice of Islamabad High Court (IHC) Muhammad Anwar Khan Kasi constituted two single benches to hear over 50 cases during the next week starting from Monday (July 22).
Published 21 Jul, 2013 12:00am
Shopkeepers grab footpaths in and around Aabpara Market

Shopkeepers grab footpaths in and around Aabpara Market

The shopkeepers at Aabpara Market have again encroached upon the footpaths and roads one day after anti-encroachment operation by the Capital Development Authority (CDA). Small vendors also set up their stalls on the footpaths following the operation.
Published 21 Jul, 2013 12:00am
SECP terms reports incorrect

SECP terms reports incorrect

The Securities and Exchange Commission of Pakistan (SECP) has denounced the spate of recent unfounded criticism in a section of the press. The criticism appears to be an attempt to try and turn the recent report by its Policy Board into a basis to spread
Published 21 Jul, 2013 12:00am
Coordination Cell set up to make anti-theft drive more effective

Coordination Cell set up to make anti-theft drive more effective

DCO Najam Ahmad Shah set up a District Co-ordination Cell in order to make anti-theft campaign more effective and to streamline the system for dealing with the cases of theft of sui gas/electricity, District Officer (Human Resources Management) has been n
Published 21 Jul, 2013 12:00am
Capital police fails to control street crimes

Capital police fails to control street crimes

Islamabad Police have failed to control street crimes and car thefts in the Federal Capital, as nine vehicles were snatched or lifted from different areas, seven incidents of dacoities were also recorded, besides abduction of three women last week.
Published 21 Jul, 2013 12:00am
Pakistan prepared to release more Afghan Taliban from jails: Sartaj

Pakistan prepared to release more Afghan Taliban from jails: Sartaj

Advisor to Prime Minister on Foreign Affairs and National Security Sartaj Aziz has said Pakistan is committed to a good and positive relationship with Afghanistan. In an interview with The Wall Street Journal‚ Sartaj Aziz said he would hold talks with Afg
Published 21 Jul, 2013 12:00am
Rental Income: no tax if gross amount doesn't exceed Rs 150,000

Rental Income: no tax if gross amount doesn't exceed Rs 150,000

There would be no tax on rental income where the gross amount of rent does not exceed Rs 150,000 under section 155 (Income from Properly) of the Income Tax Ordinance, 2001. According to the Federal Board of Revenue (FBR) income tax circular issued on Satu
Published 21 Jul, 2013 12:00am
People of Kurram agency seek end to military operation

People of Kurram agency seek end to military operation

The people affected by security forces operations in Kurram Agency on Saturday staged a protest demonstration on main Sher Shah Suri Road here outside the Press Club, demanding of the government to immediately halt the ongoing operation in the Agency and
Published 21 Jul, 2013 12:00am
Aafia should be treated as terrorist if extradited: US

Aafia should be treated as terrorist if extradited: US

Finally the conditions of the prisoner swap deal likely to be signed between the US and Pakistan for the extradition of Dr Aafia Siddiqui has come to the surface. According to a private television channel, the US has asked Pakistan to admit that Aafia is
Published 21 Jul, 2013 12:00am
Pervez Khattak sets austerity example

Pervez Khattak sets austerity example

Chief Minister of Khyber Pakhtunkhwa has made an example of austerity amongst the Pakistani politicians during their visit to Islamabad. The prominent leader travelled to Islamabad along with his driver without any protocol and completely avoided clusters
Published 21 Jul, 2013 12:00am
Mirwaiz, Geelani condemn imposition of curfew

Mirwaiz, Geelani condemn imposition of curfew

All Parties Hurriyet Conference (APHC) Chairman Mirwaiz Umar Farooq and veteran Hurriyet leader Syed Ali Geelani have strongly condemned the imposition of curfew by the authorities in the territory to prevent people from protesting against attack on worsh
Published 21 Jul, 2013 12:00am
Saarc CCI hails Jabbar's appointment as BoG member SDPI

Saarc CCI hails Jabbar's appointment as BoG member SDPI

Saarc Chamber of Commerce and Industry (CCI) has welcomed appointment of Engineer M A Jabbar as member of Board of Governors (BoG) Sustainable Development Policy Institute (SDPI). Iftikhar Ali Malik, Vice President of Saarc CCI and fellow EC members have
Published 21 Jul, 2013 12:00am
No respite during Ramazan for power consumers

No respite during Ramazan for power consumers

Power outages in many parts of city have perturbed consumers, particularly during the Sehar, Iftar and Taraveeh timing, as Peshawar Electric Supply Company continuously carrying out excessive loadshedding amid increasing demand of electricity.
Published 21 Jul, 2013 12:00am
UNCTAD completes peer review of Competition Law

UNCTAD completes peer review of Competition Law

The United Nations Conference on Trade and Development (UNCTAD) completed a successful Peer Review of the Competition Law and Policy of Pakistan with the recommendation for Competition Commission of Pakistan (CCP) to continue with an active policy towards
Published 21 Jul, 2013 12:00am
'Rule of law fundamental element of successful society'

'Rule of law fundamental element of successful society'

Prosecutor General Sindh Shahadat Awan on Saturday said the prosecutors should be empowered to fulfill their professional duties in an independent, impartial and objective manner for providing relief to the litigants. He said," Rule of law is the fundamen
Published 21 Jul, 2013 12:00am
Profiteers arrested

Profiteers arrested

On the directives of Deputy Commissioner (DC), Peshawar, Additional Assistant Commissioner (AAC)-VI, Mahmood Ahmad conducted raids on profiteers on holiday and arrested 15 persons for selling goods on exorbitant prices. Similarly, AAC-III, Naseer Khan als
Published 21 Jul, 2013 12:00am
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