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Print - 2014-03-05
'Rectification' under Sales Tax Act, 1990

'Rectification' under Sales Tax Act, 1990

Present phraseology of section 57 in the Sales Tax Act (Act) empowers officers of Inland Revenue, Commissioner, Commissioner (Appeals) and the Appellate Tribunal to rectify any mistake in an order, apparent from the record, on own motion or on any mistake
Published 05 Mar, 2014 12:00am
Baloch human rights marchers

Baloch human rights marchers

The group of Baloch people who embarked on a long march from Quetta to Islamabad on October 27 carrying the photos of missing relatives along with the names and dates of disappearance to seek their recovery reached the destination on February 28. Along th
Published 05 Mar, 2014 12:00am
Accessing bank accounts

Accessing bank accounts

Federal Board of Revenue (FBR) has again become quite active in seeking probe into the bank accounts of individuals and other entities. According to the latest SRO 115/1/2014 issued by the FBR, every bank will be required to submit to the Board a monthly
Published 05 Mar, 2014 12:00am
Islamabad attack: Olson extends condolences to victims' families

Islamabad attack: Olson extends condolences to victims' families

On behalf of the American people, US Ambassador to Pakistan Richard G. Olson extends deepest condolences to the families and friends of the victims of the despicable act of terrorism that took place at Islamabad's District Court Complex in the F-8 sector
Published 05 Mar, 2014 12:00am
Iran knows where the hostages are kept: spokesman

Iran knows where the hostages are kept: spokesman

Iranian Interior Ministry spokesman has claimed they have found the place where the Iranian border guards, taken hostage, are kept in Pakistan. Hosseinali Amiri the Interior Ministry deputy commented on the release of 5 Iranian border guards taken hostage
Published 05 Mar, 2014 12:00am
KWSB announces alternate water distribution schedule

KWSB announces alternate water distribution schedule

Karachi Water and Sewerage Board (KWSB) has started its alternate days water distribution system for the city from 1st of this month after suspension of water supply from Hub Dam. This new schedule will be applied to the entire city and water supply will
Published 05 Mar, 2014 12:00am
Senators urge government to use full might against Taliban

Senators urge government to use full might against Taliban

The persistent absence of a flamboyant interior minister Chaudhry Nisar Ali Khan Tuesday earned him the wrath of opposition senators who staged a walkout from Senate, leaving the chair with no option but to adjourn the house due to a lack of quorum.
Published 05 Mar, 2014 12:00am
'Hospital waste causing hazardous diseases'

'Hospital waste causing hazardous diseases'

Advisor to Chief Minister Punjab on Health Khawaja Salman Rafique has said that hospital waste is causing dangerous diseases and all the stake-holder departments need to adopt a consolidated strategy for tackling the problem.
Published 05 Mar, 2014 12:00am
'MCCI seeks constructive industry-academia linkages'

'MCCI seeks constructive industry-academia linkages'

"MCCI is very much interested to build a constructive relationship between the industry and academia. The industry-academia linkages are equally beneficial to both sides as the research by universities would help in improving quality of industrial product
Published 05 Mar, 2014 12:00am
100 exhibitors to participate in Pak-American trade expo

100 exhibitors to participate in Pak-American trade expo

At least 100 exhibitors from Pakistan are scheduled to participate in Pak-American trade expo-2014 to be held in Washington DC from May 2 to 5, with equal participation from the host country. The event has received tremendous response from business commun
Published 05 Mar, 2014 12:00am
Dastagir to lead textile industry delegation to US

Dastagir to lead textile industry delegation to US

Federal Commerce Minister Engineer Khurram Dastagir will lead a textile industry delegation to the US on March 13. The delegation will persuade the US authorities on trade concession in line with the GSP plus from the EU, said the industry sources. Accord
Published 05 Mar, 2014 12:00am
Germany will facilitate Pakistan to get GSP plus benefits: envoy

Germany will facilitate Pakistan to get GSP plus benefits: envoy

Germany will facilitate Pakistan to get maximum benefits from GSP Plus and in this connection extensive vocational training program would be launched to further improve the quality and quantity of exportable surplus from Pakistan. These were expressed by
Published 05 Mar, 2014 12:00am
Punjab Seed Act 2013 to be tabled in Assembly soon

Punjab Seed Act 2013 to be tabled in Assembly soon

Punjab Seed Act 2013 is in final phase of preparation and will soon be tabled in the provincial assembly for approval. The government has asked all the stakeholders including growers' organisations and private seed companies to submit their proposals for
Published 05 Mar, 2014 12:00am
Islamabad attack: lawyers observe complete strike in Lahore

Islamabad attack: lawyers observe complete strike in Lahore

The legal fraternity on Tuesday observed complete strike to condemn terror attack on a complex of district and sessions courts in Islamabad. The lawyers stayed away from the court proceedings and wore black armbands to express their solidarity with bereav
Published 05 Mar, 2014 12:00am
Two dacoits killed in encounter

Two dacoits killed in encounter

Two dacoits were killed and one injured in a police encounter near Bahawalpur bypass on Tuesday, said police. According to details, four dacoits riding a white car robbed a house in Al-Quresh town and fled to city exit point, when police sealed all entran
Published 05 Mar, 2014 12:00am
MQM man among four killed in various parts of metropolis

MQM man among four killed in various parts of metropolis

At least four persons were killed in different incidents of violence in the city, here on Tuesday. According to police and rescue sources, Mushtaq Ahmad, son of Abul Kalam, was shot and killed by unidentified motorcyclists in F. B. area Block-17 in the re
Published 05 Mar, 2014 12:00am
Met office advisory to farmers

Met office advisory to farmers

The Met Office has advised the farmers to stop irrigation of their wheat crop, as per need, which has entered a crucial stage of maturity, ahead of expected rainy spell. "Farmers of these areas are advised to irrigate the crops as per requirement keeping
Published 05 Mar, 2014 12:00am
Reap membership renewal fees: small rice exporters flay increase

Reap membership renewal fees: small rice exporters flay increase

Rice Exporters Association of Pakistan (REAP) has announced to increase its membership renewal fees by 465 percent. Now all REAP members are required to pay an amount of Rs 14,000 as renewal fee instead of Rs 3000 being charged previously. The fee, though
Published 05 Mar, 2014 12:00am
Substandard goods: PSQCA-Customs discord leads to increase in imports

Substandard goods: PSQCA-Customs discord leads to increase in imports

Absence of inter-departmental co-operation between Pakistan Customs and Pakistan Standard Quality Control Authority (PSQCA) has caused increase in imports of substandard goods in the country; it was learnt here on Tuesday. According to sources, customs, w
Published 05 Mar, 2014 12:00am
Foreign hand involved in sabotaging peace talks: JUP

Foreign hand involved in sabotaging peace talks: JUP

Condemning bloodshed in Islamabad district courts President Jamiat Ulema-e-Pakistan Sahibzada Abual Khair Muhammad Zubair said that foreign hand is involved in sabotaging peace talks between the government and Taliban. In a statement on Tuesday Zubair con
Published 05 Mar, 2014 12:00am
Thatta Cement Company Limited

Thatta Cement Company Limited

Introduction: Thatta Cement Company Limited was incorporated in 1980 as a public limited company. The Company was set up as a wholly owned subsidiary of State Cement Corporation of Pakistan (Pvt) Limited. The plant's manufacturing facility is based
Published 05 Mar, 2014 12:00am
Thatta Cement Company Limited

Thatta Cement Company Limited

Introduction: Thatta Cement Company Limited was incorporated in 1980 as a public limited company. The Company was set up as a wholly owned subsidiary of State Cement Corporation of Pakistan (Pvt) Limited. The plant's manufacturing facility is based
Published 05 Mar, 2014 12:00am
Iran says EU's Ashton to visit on Saturday

Iran says EU's Ashton to visit on Saturday

EU foreign policy chief Catherine Ashton will travel to Iran this weekend, Iran's foreign ministry said Tuesday amid a thaw in Tehran's strained relations with the European bloc. Ashton is tasked with co-ordinating nuclear talks between Iran and world pow
Published 05 Mar, 2014 12:00am
Cheaper energy pulls down eurozone factory prices

Cheaper energy pulls down eurozone factory prices

A steep fall in energy costs brought down euro zone producer prices faster than expected in January, data showed on Tuesday, underlining deflationary risks ahead of the European Central Bank's policy meeting on Thursday. Prices at factory gates in the 18
Published 05 Mar, 2014 12:00am
Estonian Prime Minister submits resignation

Estonian Prime Minister submits resignation

Estonia's three-term Prime Minister Andrus Ansip submitted his resignation on Tuesday in a long-planned move to pave the way for his successor to lead a new government into a general election next year. Ansip announced last month he would resign, along wi
Published 05 Mar, 2014 12:00am
India hardens stance against US protectionism ahead of visits

India hardens stance against US protectionism ahead of visits

India's trade minister on Tuesday accused the United States of excessive trade protectionism, launching a broadside that coincided with the visit of a top US official to patch up a stormy bilateral friendship. Trade friction between the two countries has
Published 05 Mar, 2014 12:00am
Syria surrenders a third of chemical arsenal: watchdog

Syria surrenders a third of chemical arsenal: watchdog

Syria has surrendered or destroyed nearly a third of its chemical arsenal but remains behind on its international obligations, the head of the disarmament mission told the world's chemical watchdog Tuesday. Syria has already missed several target dates to
Published 05 Mar, 2014 12:00am
US puts Sri Lanka on notice over alleged war crimes

US puts Sri Lanka on notice over alleged war crimes

A US-led resolution calling for an international probe into allegations that 40,000 civilians were killed at the end of Sri Lanka's separatist war has been filed with the UN's top rights body. In a draft resolution posted on the Human Rights Council's web
Published 05 Mar, 2014 12:00am
Ukraine's Ruslana among 10 brave women honoured by US

Ukraine's Ruslana among 10 brave women honoured by US

Ukrainian pop star Ruslana, who has spent months singing for protestors in Kiev, was Tuesday among 10 women honoured for their bravery at a US ceremony. First Lady Michelle Obama paid tribute to the 10 chosen for the 2014 International Women of Courage aw
Published 05 Mar, 2014 12:00am
Saudi's NCB names first female investment bank head

Saudi's NCB names first female investment bank head

Saudi Arabia's National Commercial Bank (NCB) has appointed Sarah Al-Suhaimi as chief executive of its investment banking arm, sources aware of the matter said, the first time a woman has been named to head an investment bank in the conservative kingdom.
Published 05 Mar, 2014 12:00am
Arson, looting may have displaced 40,000 in Sudan's Darfur

Arson, looting may have displaced 40,000 in Sudan's Darfur

Almost 40,000 people may have been displaced by militia arson and looting in Sudan's Darfur region, according to new data obtained by AFP on Tuesday. More than 19,000 arrivals have been recorded at two camps for displaced people near the South Darfur stat
Published 05 Mar, 2014 12:00am
Suicide bombers attack Iraq city council headquarters, kill five

Suicide bombers attack Iraq city council headquarters, kill five

Suicide bombers attacked the city council headquarters in the Iraqi city of Samarra on Tuesday, took employees hostage and eventually blew themselves up, killing a total of five people. The attack, which followed a similar operation last December, illustr
Published 05 Mar, 2014 12:00am
New York cotton futures rally as traders eye tightening US stocks

New York cotton futures rally as traders eye tightening US stocks

Cotton futures rallied on Monday, lifted by expectations that the US government next week will reduce its outlook for ending inventories in the United States, the world's top exporter. The most active May cotton contract on ICE Futures US closed up 1.19 c
Published 05 Mar, 2014 12:00am
Shanghai copper falls

Shanghai copper falls

The most-traded May copper contract on the Shanghai Futures Exchange fell 0.4 percent to 48,780 yuan ($7,900) a tonne on Tuesday, having descended to a new seven-month trough in overnight trade. Year, and signs of a deeper-rooted revival in the United Sta
Published 05 Mar, 2014 12:00am
Copper rises: zinc hits one-year high: nickel touches highest since June

Copper rises: zinc hits one-year high: nickel touches highest since June

Copper rose to its highest in nearly a week on Tuesday, after falling to three-month lows the day before, as a possible softening in Russia's stance on Ukraine eased aversion to assets perceived as risky. President Vladimir Putin said on Tuesday Russia sa
Published 05 Mar, 2014 12:00am
Oil falls nearly two percent as Ukraine tension eases

Oil falls nearly two percent as Ukraine tension eases

Crude oil fell nearly 2 percent on Tuesday after President Vladimir Putin said Russia would only use military force in Ukraine as a last resort, releasing some tension from a growing crisis that pushed prices to five-month highs in the previous session. P
Published 05 Mar, 2014 12:00am
Tokyo rubber higher

Tokyo rubber higher

Tokyo rubber futures ended higher after a thinly traded session on Tuesday on the back of firmer oil and a weaker yen, dealers said. The Tokyo Commodity Exchange rubber contract for August delivery was up 1.1 yen to settle at 225.8 yen ($2.23) per kg. The
Published 05 Mar, 2014 12:00am
Wheat and corn surge

Wheat and corn surge

US wheat futures surged nearly 5 percent on Monday, the most in 1-1/2 years, as tensions in Ukraine stoked fears of disruption to shipments from the Black Sea, one of the world's key grain-exporting zones. Corn futures jumped 1.5 percent at the Chicago Bo
Published 05 Mar, 2014 12:00am
Palm oil flat

Palm oil flat

Malaysian palm oil futures ended flat on Tuesday, trading near 17-month highs as lower production expectations due to dry weather conditions were offset by weaker comparative vegetable oils. The benchmark May contract on the Bursa Malaysia Derivatives Exc
Published 05 Mar, 2014 12:00am
Coffee sinks

Coffee sinks

Arabica coffee futures on ICE dropped 4 percent on Tuesday, tumbling from the prior session's two-year peak on profit-taking, which accelerated in late-day dealings, while Liffe robusta turned lower after tapping a one-year high. ICE Futures US raw sugar
Published 05 Mar, 2014 12:00am
Gold jumps two percent in New York

Gold jumps two percent in New York

Gold surged about 2 percent to a four-month high on Monday as escalating military tension between Ukraine and Russia bolstered demand for assets perceived to be relatively safe as investors sold riskier investments such as equities.
Published 05 Mar, 2014 12:00am
Gold drops in Asia

Gold drops in Asia

Gold dropped 1 percent on Tuesday as equities rebounded after Russian President Vladimir Putin ordered troops engaged in exercises in an area which borders crisis-struck Ukraine to return to their base. Gold rallied to a four-month high on Monday after in
Published 05 Mar, 2014 12:00am
Gold falls in Europe

Gold falls in Europe

Gold fell more than one percent on Tuesday, retreating from the previous day's four-month high, after President Vladimir Putin said Russia would only use military force in Ukraine as a last resort. The precious metal rallied nearly 2 percent on Monday as
Published 05 Mar, 2014 12:00am
US MIDDAY: soya rises

US MIDDAY: soya rises

US soyabean futures rose on Tuesday, as export demand for US supplies remained strong even as domestic stocks dwindled, traders said. Corn and wheat futures also advanced, with the market stabilising as the threat of military violence in Ukraine, a key pr
Published 05 Mar, 2014 12:00am
US MIDDAY: gold falls

US MIDDAY: gold falls

Gold fell about 1 percent early on Tuesday as investors took profits from the previous session's rally to near four-month highs after President Vladimir Putin said Russia would only use military force in Ukraine as a last resort. Bullion's drop came as US
Published 05 Mar, 2014 12:00am
BlackBerry suffers network outage in Asia Pacific

BlackBerry suffers network outage in Asia Pacific

BlackBerry Ltd has suffered a network outage affecting some users in Canada and the Asia-Pacific region, the smartphone and technology company said on Tuesday. The outage hit Canada''s leading mobile network, according to a memo sent to some customers of
Published 05 Mar, 2014 12:00am
BlackBerry suffers network outage in Asia Pacific

BlackBerry suffers network outage in Asia Pacific

BlackBerry Ltd has suffered a network outage affecting some users in Canada and the Asia-Pacific region, the smartphone and technology company said on Tuesday. The outage hit Canada's leading mobile network, according to a memo sent to some customers of b
Published 05 Mar, 2014 12:00am
BlackBerry suffers network outage in Asia Pacific

BlackBerry suffers network outage in Asia Pacific

BlackBerry Ltd has suffered a network outage affecting some users in Canada and the Asia-Pacific region, the smartphone and technology company said on Tuesday. The outage hit Canada's leading mobile network, according to a memo sent to some customers of b
Published 05 Mar, 2014 12:00am
Pentagon looks beyond Afghanistan

Pentagon looks beyond Afghanistan

The Pentagon unveiled a $496 billion base budget on Tuesday that shifts the United States from its war-footing for the first time in a dozen years, cutting the size of the military to pay for training and new weapons systems in an era of tighter spending.
Published 05 Mar, 2014 12:00am
Pentagon looks beyond Afghanistan

Pentagon looks beyond Afghanistan

The Pentagon unveiled a $496 billion base budget on Tuesday that shifts the United States from its war-footing for the first time in a dozen years, cutting the size of the military to pay for training and new weapons systems in an era of tighter spending.
Published 05 Mar, 2014 12:00am
The Weather

The Weather

The weather report on Tuesday (March 04, 2014) and the forecast for Wednesday (March 05, 2014).

Published 05 Mar, 2014 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (March 04, 2014).

Published 05 Mar, 2014 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (March 04, 2014).

Published 05 Mar, 2014 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 05 Mar, 2014 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 05 Mar, 2014 12:00am
India ramps up aid as it seeks to exert influence on Kabul

India ramps up aid as it seeks to exert influence on Kabul

India's most important message for Afghanistan is that it is not leaving, and it is backing that message with the biggest aid package it has ever given another country. Indian diplomats insist the message is meant as reassurance for allies in Afghanistan
Published 05 Mar, 2014 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (March 04, 2014).

Published 05 Mar, 2014 12:00am
India ramps up aid as it seeks to exert influence on Kabul

India ramps up aid as it seeks to exert influence on Kabul

India's most important message for Afghanistan is that it is not leaving, and it is backing that message with the biggest aid package it has ever given another country. Indian diplomats insist the message is meant as reassurance for allies in Afghanistan
Published 05 Mar, 2014 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Tuesday (March 04, 2014) and for Wednesday (March 05, 2014).
Published 05 Mar, 2014 12:00am
China condemns Islamabad court bombing

China condemns Islamabad court bombing

China has condemned a terrorist attack that killed at least 11 people and injured several in a court in Pakistan on Monday. "We express our grave condolences to the victims and deep sympathies to their families," Foreign Ministry spokesman Qin Gang said a
Published 05 Mar, 2014 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (March 04, 2014).

Published 05 Mar, 2014 12:00am
China condemns Islamabad court bombing

China condemns Islamabad court bombing

China has condemned a terrorist attack that killed at least 11 people and injured several in a court in Pakistan on Monday. "We express our grave condolences to the victims and deep sympathies to their families," Foreign Ministry spokesman Qin Gang said a
Published 05 Mar, 2014 12:00am
Security concerns: Musharraf's counsel refuse to appear before court

Security concerns: Musharraf's counsel refuse to appear before court

The counsel for former army chief Pervez Musharraf on Tuesday refused to appear before the Special Court trying Musharraf on high treason charges with a plea that judges and lawyers dealing with this case must be provided with adequate security. The Defen
Published 05 Mar, 2014 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Tuesday (March 04, 2014).

Published 05 Mar, 2014 12:00am
Security concerns: Musharraf's counsel refuse to appear before court

Security concerns: Musharraf's counsel refuse to appear before court

The counsel for former army chief Pervez Musharraf on Tuesday refused to appear before the Special Court trying Musharraf on high treason charges with a plea that judges and lawyers dealing with this case must be provided with adequate security. The Defen
Published 05 Mar, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (March 04, 2014).

Published 05 Mar, 2014 12:00am
Six banks team up in plan for shared customer data register

Six banks team up in plan for shared customer data register

J.P. Morgan, Citigroup and four more major banks have signed up with an industry group to develop a central register of information on other banks they deal with to help to meet increasing compliance demands and costs. Swift, a Brussels-based group used b
Published 05 Mar, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (March 04, 2014).

Published 05 Mar, 2014 12:00am
Six banks team up in plan for shared customer data register

Six banks team up in plan for shared customer data register

J.P. Morgan, Citigroup and four more major banks have signed up with an industry group to develop a central register of information on other banks they deal with to help to meet increasing compliance demands and costs. Swift, a Brussels-based group used b
Published 05 Mar, 2014 12:00am
Six banks team up in plan for shared customer data register

Six banks team up in plan for shared customer data register

J.P. Morgan, Citigroup and four more major banks have signed up with an industry group to develop a central register of information on other banks they deal with to help to meet increasing compliance demands and costs. Swift, a Brussels-based group used b
Published 05 Mar, 2014 12:00am
Egypt court bans Hamas

Egypt court bans Hamas

A Cairo court banned Tuesday the Palestinian Hamas movement from operating in Egypt, tightening the noose around the militant rulers of the blockaded Gaza Strip amid a crackdown on Islamists. The emergency court's decision to also seize Hamas's assets, ah
Published 05 Mar, 2014 12:00am
THE RUPEE: all-round gains

THE RUPEE: all-round gains

The rupee posted fresh gains against the dollar and euro in the process of trading on Tuesday, dealers said. The rupee gave up overnight weakness in relation to the dollar picking up 11-paisa for buying at Rs 104.84 and it also gained 10-paisa for selling
Published 05 Mar, 2014 12:00am
Egypt court bans Hamas

Egypt court bans Hamas

A Cairo court banned Tuesday the Palestinian Hamas movement from operating in Egypt, tightening the noose around the militant rulers of the blockaded Gaza Strip amid a crackdown on Islamists. The emergency court's decision to also seize Hamas's assets, ah
Published 05 Mar, 2014 12:00am
THE RUPEE: all-round gains

THE RUPEE: all-round gains

The rupee posted fresh gains against the dollar and euro in the process of trading on Tuesday, dealers said. The rupee gave up overnight weakness in relation to the dollar picking up 11-paisa for buying at Rs 104.84 and it also gained 10-paisa for selling
Published 05 Mar, 2014 12:00am
Kerry likely to visit Pakistan: State Department

Kerry likely to visit Pakistan: State Department

The United States and Pakistan work closely towards regional peace and stability and Secretary of State John Kerry hopes to visit the South Asian country again as part of bilateral engagement, the State Department said. State Department spokesperson Jen P
Published 05 Mar, 2014 12:00am
Kerry likely to visit Pakistan: State Department

Kerry likely to visit Pakistan: State Department

The United States and Pakistan work closely towards regional peace and stability and Secretary of State John Kerry hopes to visit the South Asian country again as part of bilateral engagement, the State Department said. State Department spokesperson Jen P
Published 05 Mar, 2014 12:00am
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