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Print - 2014-03-11
UK economy to conquer pre-recession peak soon

UK economy to conquer pre-recession peak soon

Britain's economy should exceed its pre-recession growth peak in the next few months, according to the British Chambers of Commerce, which on Monday upgraded its forecasts for this year and next. The business group forecast full-year gross domestic produc
Published 11 Mar, 2014 12:00am
Chiquita, Ireland's Fyffes merge, become top banana supplier

Chiquita, Ireland's Fyffes merge, become top banana supplier

US-based Chiquita Brands and Ireland's Fyffes Plc said Monday that they are merging, creating the world's larget banana supplier with annual revenue of $4.6 billion. In the stock-for-stock transaction Chiquita shareholders will own approximately 50.7 perc
Published 11 Mar, 2014 12:00am
Japanese growth slows as sales tax hike looms

Japanese growth slows as sales tax hike looms

Japan's economy grew at a slower pace than initially thought in the last quarter of 2013, revised data showed Monday, underscoring concerns about the pace of recovery under Prime Minister Shinzo Abe's policy blitz. The fresh figures will turn the focus on
Published 11 Mar, 2014 12:00am
Central bank chief resigns in recession-hit Cyprus

Central bank chief resigns in recession-hit Cyprus

Cyprus central bank governor Panicos Demetriades, whose performance came under fire over the island's banking crisis last year, resigned on Monday, the president's office announced. President Nicos Anastasiades, his leading critic, accepted the resignatio
Published 11 Mar, 2014 12:00am
India car sales post first rise since September 2013

India car sales post first rise since September 2013

Indian car sales rose in February - the first time in five months - according to figures released Monday, but a top industry body said it was too early to say the market has finally turned around. The Society of Indian Automobile Manufacturers (SIAM) said
Published 11 Mar, 2014 12:00am
China's bank lending halves in February

China's bank lending halves in February

The number of new yuan loans made by Chinese banks halved in February and liquidity in the economy tightened, official data showed on Monday, which analysts said indicated the previous month's surge was not a sign of a policy shift. New bank loans totalle
Published 11 Mar, 2014 12:00am
McDonald's US sales continue to struggle

McDonald's US sales continue to struggle

McDonald's Corp on Monday reported a bigger-than-expected drop in comparable global sales for February, hurt again by slow business in the United States. The world's biggest restaurant chain by revenue said world-wide sales at restaurants open at least 13
Published 11 Mar, 2014 12:00am
German reliance on Russian gas threatens Europe: Poland

German reliance on Russian gas threatens Europe: Poland

Germany's reliance on Russian natural gas poses a threat to European sovereignty, Polish Prime Minister Donald Tusk warned Monday amid rising East-West tensions over Ukraine. "Germany's reliance on Russian gas can effectively limit European sovereignty. I
Published 11 Mar, 2014 12:00am
Europe reaches crunch point on banking union

Europe reaches crunch point on banking union

European governments and lawmakers will try to reach a deal this week on how to wind down failing banks, clearing the way for a landmark reform as time runs out to win European Parliament approval before May elections. Negotiations are set to span days an
Published 11 Mar, 2014 12:00am
Soybean prices drop ahead of USDA report

Soybean prices drop ahead of USDA report

US soybeans fell nearly 1 percent on Monday, giving back much of the gains from the previous session as traders readied for the latest US Department of Agriculture report on production. Chicago Board of Trade May soybeans fell 0.75 percent to $14.46-3/4 a
Published 11 Mar, 2014 12:00am
Vietnam cuts rice export price floor, eyes Manila tender

Vietnam cuts rice export price floor, eyes Manila tender

Vietnam has lowered its price floor for exports of low-grade rice for the second time in a month, an industry source said, as the world's No 2 exporter of the grain looks to make its shipments more attractive amid a global supply glut. The Southeast Asian
Published 11 Mar, 2014 12:00am
Chinese steel and iron futures fall to lowest ever levels

Chinese steel and iron futures fall to lowest ever levels

Chinese steel and iron ore futures fell to their lowest levels ever on Monday after a surprise drop in exports swung China's trade balance into deficit last month and amplified fears of a slowdown in the world's No 2 economy. Its exports fell 18.1 percent
Published 11 Mar, 2014 12:00am
Oil cake market rates

Oil cake market rates

The March vaida was sharply higher on the forward cottonseeds oilcake market on Monday in the process of trading, dealers said. The March contract closed at Rs 1250.50 and it opened with an increase of Rs 6.00 to Rs 1256.50 in the morning session, they sa
Published 11 Mar, 2014 12:00am
Sluggish business on cotton market

Sluggish business on cotton market

Not much activity was witnessed on the cotton market on Monday as millers and spinners were sidelines due to less buying interest, dealers said. The official spot rate was unchanged at Rs 6,850, they added. Prices of seed cotton in Sindh per 40 kg were in
Published 11 Mar, 2014 12:00am
Corn slips from six-month high ahead of US report

Corn slips from six-month high ahead of US report

Chicago corn slid for a second session on Monday, falling from a six-month high as investors squared positions ahead of a US government report on global supply-demand of agricultural products due later in the day. Soybeans fell after hitting a contract hi
Published 11 Mar, 2014 12:00am
Mixed trend on grain market

Mixed trend on grain market

Almost prices moved both ways on the wholesale grain market on Monday in the process of modest trading, dealers said. On the cereals side, Moong Punjab and Peshawar both dropped by Rs 125 to Rs 11375, wheat old (Bardan) gained Rs 50 to Rs 3900, Guwar Sind
Published 11 Mar, 2014 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

Pakistan Mercantile Exchange (PMEX) witnessed 59 per cent increase in value traded on Monday. Total value of trade went up to PKR 6,958 million from PKR 4,364 million on Friday. Number of lots traded increased to 26,847 from 20,298. PMEX Commodity Index w
Published 11 Mar, 2014 12:00am
HRW wheat bids steady

HRW wheat bids steady

Cash basis bids for hard red winter wheat were steady in the US Plains on Monday. Temperatures were warming up through the key wheat-growing areas of Kansas and neighbouring states. Protein premiums for railcar wheat to and through Kansas City fell 4-11 c
Published 11 Mar, 2014 12:00am
Indian tea prices drop on sluggish demand

Indian tea prices drop on sluggish demand

Average tea prices in India, the world's second-biggest producer, dropped at last week's auction due to sluggish demand for poor quality leaf from leading buyers. The CTC (crush-tear-curl) grade leaf was sold at 105.07 rupees ($1.72) per kg last week, dow
Published 11 Mar, 2014 12:00am
USDA cuts soyabean stocks

USDA cuts soyabean stocks

The US Department of Agriculture on Monday cut its estimate of US ending stocks of soyabeans but the reduction was less than analysts were expecting and futures fell sharply. The government's forecast of the size of soyabean crops in Brazil and Argentina
Published 11 Mar, 2014 12:00am
India's February natural rubber imports almost double

India's February natural rubber imports almost double

India's natural rubber imports in February nearly doubled to 18,141 tonnes from a year ago, the state-run Rubber Board said, as a sharp drop in overseas prices prompted tyre makers to increase overseas purchases. In February, prices of tyre grade rubber f
Published 11 Mar, 2014 12:00am
US Midwest bids for corn, soya steady

US Midwest bids for corn, soya steady

Spot basis bids for corn and soyabeans were mostly steady across the US Midwest on Monday as farmers held off on selling crops ahead of monthly data from the government, dealers said. The US Department of Agriculture is scheduled to release its March supp
Published 11 Mar, 2014 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Monday in thin early volume, continuing their recent march higher ahead of a key US government report. Markets awaited a US Department of Agriculture report, due at 11 am CST (1700 GMT), which analysts expect to show a
Published 11 Mar, 2014 12:00am
Rain and heat aid Ivorian cocoa mid-crop

Rain and heat aid Ivorian cocoa mid-crop

Patchy rain and hot temperatures across most of Ivory Coast's cocoa-growing regions last week aided the development of the mid-crop but fears persisted of a poor, late harvest in some areas, farmers and analysts said on Monday. The West African nation is
Published 11 Mar, 2014 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 299,536 tonnes of cargo comprising 226,713 tonnes of import cargo and 72,823 tonnes of export cargo including 7,250 loaded and empty containers during the last 48 hours ending at 0700 hours on Monday. The total import cargo of 226
Published 11 Mar, 2014 12:00am
Asian gasoline crack at 7-1/2-month high on lower supply

Asian gasoline crack at 7-1/2-month high on lower supply

The Asian gasoline crack, or the price difference between the motor fuel and Brent crude, rose for a third straight session on Monday to a 7-1/2-month high on lower supply due to refinery maintenance. The gasoline crack was up 7 cents at $10.12 a barrel,
Published 11 Mar, 2014 12:00am
Philippines February rice stocks hit lowest in four months

Philippines February rice stocks hit lowest in four months

Overall rice stocks in the Philippines fell to their lowest in four months in February, data showed on Monday, increasing pressure on Manila to import more of the national staple. The country has been expected to ship in more rice to boost supply as it ba
Published 11 Mar, 2014 12:00am
Egypt's bourse gains marginally after $40 billion housing deal

Egypt's bourse gains marginally after $40 billion housing deal

Egypt's shares rose slightly on Monday after a deal between the country's army and a Dubai builder for an affordable housing project worth 280 billion Egyptian pounds ($40.2 billion). Cairo's benchmark index advanced 0.5 percent, recovering early-session
Published 11 Mar, 2014 12:00am
Hong Kong, China shares sink

Hong Kong, China shares sink

Shares in Hong Kong and China tumbled on Monday after a disappointing batch of trade and inflation data at the weekend fanned concerns about the mainland economy. The benchmark Hang Seng Index fell 1.75 percent, or 395.56 points, to 22,264.93 on turnover
Published 11 Mar, 2014 12:00am
Global investors' bet on Europe as recovery picks up pace

Global investors' bet on Europe as recovery picks up pace

After being shunned by investors for years, the euro zone is attracting global funds at the fastest pace ever as its economic recovery beckons those fleeing emerging markets. Many investors, from Middle-Eastern sovereign funds to South American pension fu
Published 11 Mar, 2014 12:00am
Southeast Asian markets: Malaysia near one-month low

Southeast Asian markets: Malaysia near one-month low

Malaysian shares fell to a near one-month low on Monday amid heavy selling in Malaysian Airline stocks after a Boeing 777 operated by the airline went missing over the weekend while most markets eased as weak Chinese data dented sentiment. Malaysia's main
Published 11 Mar, 2014 12:00am
Indian shares hit record high, but momentum wanes

Indian shares hit record high, but momentum wanes

India's BSE index ended up slightly on Monday after rising to a record high for a third consecutive session as strong foreign buying continued to boost domestic-focused shares such as those of HDFC Bank, but momentum waned as exporters slumped on a strong
Published 11 Mar, 2014 12:00am
Ukraine tensions and China weakness hit European shares

Ukraine tensions and China weakness hit European shares

European shares fell for the second straight session on Monday, hit by tensions between Russia and Ukraine and weak economic data from the world's second-largest economy, China. Most European indexes swung lower in the afternoon after the Interfax news ag
Published 11 Mar, 2014 12:00am
Australian shares plunge

Australian shares plunge

Australian shares fell 0.9 percent on Monday, slipping from a 5-1/2 year high touched in the previous session, after disappointing Chinese trade data hit metals markets and sent resource stocks tumbling. The S&P/ASX 200 index lost 50.8 points to 5,411.5 a
Published 11 Mar, 2014 12:00am
Tokyo shares end lower

Tokyo shares end lower

Tokyo stocks closed 1.01 percent lower Monday as the yen gained strength, and revised data showed Japan's economic growth in the last quarter of 2013 was weaker than previously thought. The Nikkei-225 index fell 153.93 points to finish at 15,120.14, while
Published 11 Mar, 2014 12:00am
Miners and Vodafone drag down FTSE to three-week low

Miners and Vodafone drag down FTSE to three-week low

Britain's top equity index fell to its lowest closing level since mid-February on Monday, dragged down by major mining stocks and telecoms group Vodafone. The blue-chip FTSE 100 index closed down by 0.4 percent, or 23.22 points, at 6,689.45 points - marki
Published 11 Mar, 2014 12:00am
Yen gains in Asia

Yen gains in Asia

The yen gained on Monday as weak China data fuelled worries about an economic slowdown, while downbeat Japanese figures underscored the drawbacks of a weaker currency. Investors gave China-proxy currencies such as the Australian dollar a wide berth as the
Published 11 Mar, 2014 12:00am
Early trade in New York: dollar steadies versus major currencies

Early trade in New York: dollar steadies versus major currencies

The US dollar held steady against major currencies on Monday, supported by hopes US job growth would pick up in the wake of last week's mildly encouraging report on hiring and as tension over Ukraine remained contained. The dollar index was little changed
Published 11 Mar, 2014 12:00am
Aussie suffers, euro holds gains in London

Aussie suffers, euro holds gains in London

The Australian and Canadian dollars lost as much as half a percent against their US counterpart on Monday as a plunge in exports from China underlined the risks of more weakness in one of the economies that drives world growth. Friday's robust US jobs dat
Published 11 Mar, 2014 12:00am
Indian rupee hits seven-month high

Indian rupee hits seven-month high

The Indian rupee rallied to its highest level in seven months on Monday as foreign investors continued to buy into both equities and debt, even as most other Asian currencies fell after surprisingly weak Chinese trade data. Strong dollar selling by custod
Published 11 Mar, 2014 12:00am
Asian currencies slip

Asian currencies slip

Most Asian currencies fell on Monday as the dollar rose after US nonfarm payrolls increased more than expected, and as Chinese trade data added to worries of a slowdown in the world's second-largest economy. Moves in the Chinese yuan also weighed on Asian
Published 11 Mar, 2014 12:00am
Australian and New Zealand dollar off highs

Australian and New Zealand dollar off highs

The Australian and New Zealand dollars were off multi-month highs against their US counterpart and the yen on Monday after disappointing economic data in China fuelled worries about a slowdown in the world's second-biggest economy. The Aussie slipped to $
Published 11 Mar, 2014 12:00am
Sterling struggles

Sterling struggles

Sterling fell to a one-month low against the euro and weakened against the dollar on Monday, after a senior Bank of England policymaker said further gains by the pound would be unwelcome. Speaking to local businesses in Darlington, BoE deputy governor Cha
Published 11 Mar, 2014 12:00am
Record-seeking Ahly survive shootout drama

Record-seeking Ahly survive shootout drama

Sayed Moawad scored a memorable goal and Sherif Ekrami made superb shootout saves as Egyptian giants Al-Ahly clawed into the CAF Champions League last-16 at the weekend. A 1-0 home win over Tanzanians Young Africans left the first round qualifier deadlock
Published 11 Mar, 2014 12:00am
The pressure's on Neymar at World Cup: Pele

The pressure's on Neymar at World Cup: Pele

The pressure will be on new hero Neymar to end Brazil's fear of failing on home territory at this year's World Cup, according to the country's all-time great Pele. Pele told AFP in an interview that the World Cup is a major opportunity for Brazil despite
Published 11 Mar, 2014 12:00am
Samuels leads West Indies to 27-run victory

Samuels leads West Indies to 27-run victory

West Indies returned to winning ways in the shortest variety, defeating England by 27 runs in the first T20 International of a three-match series at Kensington Oval in Bridgetown on Sunday. Marlon Samuels, the star when the Caribbean side defeated Sri Lan
Published 11 Mar, 2014 12:00am
Hofland wins Paris-Nice second stage

Hofland wins Paris-Nice second stage

Dutch rider Moreno Hofland won a sprint finish for the 205km second stage of the Paris-Nice cycling race to Saint-Georges-sur-Baulche in Burgundy on Monday. The 22-year-old crossed ahead of Germany's John Degenkolb, already second on Sunday, and France's
Published 11 Mar, 2014 12:00am
Ogier wins Rally of Mexico

Ogier wins Rally of Mexico

World champion Sebastien Ogier won the Rally of Mexico on Sunday, the third round of this year's title series. The Volkswagen Polo driver, who also won in Mexico in 2013, finished over a minute ahead of team-mate Jari-Matti Latvala of Finland. Belgian dri
Published 11 Mar, 2014 12:00am
Broad to sit out West Indies T20 deciders

Broad to sit out West Indies T20 deciders

England Twenty20 captain Stuart Broad admitted Sunday that he will sit out the rest of the West Indies tour to rest a knee injury. After his side lost Sunday's opening game of a three-match T20 series by 27 runs, Broad said he wanted to be fully recovered
Published 11 Mar, 2014 12:00am
Misbah sees bright prospects in the upcoming World T20 event

Misbah sees bright prospects in the upcoming World T20 event

Expressing disappointment over defeat in the final of Asia Cup, skipper of Pakistan cricket team Misbah ul Haq said there are bright prospectus for Pakistan cricket team in the upcoming World Cup Twenty20 tournament. "Our players' performance in the Asia
Published 11 Mar, 2014 12:00am
Australia v Germany Fed Cup semi in Brisbane

Australia v Germany Fed Cup semi in Brisbane

Australia's Fed Cup semi-final against Germany will be held in Brisbane next month, Tennis Australia said on Monday. The tie will be staged over the Easter weekend of April 19-20 after Australia defeated Russia in Hobart last month to reach their first se
Published 11 Mar, 2014 12:00am
Djokovic advances, Berdych bounced at Indian Wells

Djokovic advances, Berdych bounced at Indian Wells

Novak Djokovic made it safely into the third round of the Indian Wells ATP Masters on Sunday, but said his straight-sets win over Victor Hanescu left room for improvement. The world number two and second seed, a two-time winner in the California desert, s
Published 11 Mar, 2014 12:00am
More released in Turkish coup plot trial

More released in Turkish coup plot trial

A Turkish court on Monday released 13 more defendants convicted over an alleged coup to overthrow the Islamic-rooted government, media reported. The ruling came after former army chief Ilker Basbug - sentenced to life in jail in connection with the so-cal
Published 11 Mar, 2014 12:00am
Blame game erupts as China criticises Malaysia over MH370

Blame game erupts as China criticises Malaysia over MH370

Beijing on Monday blamed Kuala Lumpur for a lack of information about a vanished Malaysia Airlines flight, as tearful relatives of the 153 Chinese passengers aboard voiced frustration with all sides of the response effort. Nearly two-thirds of the 239 peo
Published 11 Mar, 2014 12:00am
Libya orders military force to 'liberate' rebel-held ports

Libya orders military force to 'liberate' rebel-held ports

Libya's parliament has ordered a special force be sent within one week to "liberate" all rebel-held ports in the volatile east, officials said on Monday, raising the stakes over a blockage that has cut off vital oil revenues. The conflict over oil wealth
Published 11 Mar, 2014 12:00am
Jordanian judge killed by Israeli troops

Jordanian judge killed by Israeli troops

Israeli troops at a border crossing on Monday shot dead a Palestinian-Jordanian judge who allegedly tried to snatch a soldier's weapon, prompting Amman and the Palestinian Authority to demand an investigation. The shooting took place on Monday morning at
Published 11 Mar, 2014 12:00am
Israeli army kills Palestinian

Israeli army kills Palestinian

Israeli soldiers shot dead a Palestinian on a road near the West Bank administrative centre of Ramallah on Monday, Israeli security sources said. The Palestinian was part of a group throwing stones at Israeli troops, who opened fire near the Ofra settleme
Published 11 Mar, 2014 12:00am
Israeli Prime Minister slams world 'hypocrisy' on Iran

Israeli Prime Minister slams world 'hypocrisy' on Iran

Prime Minister Benjamin Netanyahu on Monday lashed out at the international community for its "hypocrisy" in ignoring Israel's discovery of a shipload of weapons allegedly sent from Iran to Gaza. Standing in front of a vast display of weapons seized last
Published 11 Mar, 2014 12:00am
Cuban revolutionary heroine dies

Cuban revolutionary heroine dies

Cuban revolutionary heroine Melba Hernandez, one of only two women to accompany Fidel Castro in a 1953 assault widely seen as the start of the country's communist revolution, has died, official media reported Monday. She was 92. Hernandez died late Sunday
Published 11 Mar, 2014 12:00am
Police lay first formal charges in India's 'Coalgate'

Police lay first formal charges in India's 'Coalgate'

India's federal police agency filed its first formal charges Monday over alleged wrongdoing in the awarding of coal blocks that the national government auditor says cost the treasury billions of dollars. The laying of charges in what the Indian media has
Published 11 Mar, 2014 12:00am
More than 500,000 in Syria without food aid: WFP

More than 500,000 in Syria without food aid: WFP

The World Food Programme said Monday insecurity in Syria was cutting off half a million people from the food aid they need, while a lack of funds has also forced the UN food agency to slash rations. Three years into Syria's bloody civil war, the WFP said
Published 11 Mar, 2014 12:00am
Syria Islamists free nuns in rare prisoner swap

Syria Islamists free nuns in rare prisoner swap

A group of nuns kidnapped by Islamist rebels in Syria were freed on Monday in a rare prisoner swap in a three-year war whose brutality was highlighted in a new Amnesty report. Jihadists seized the 13 nuns and three maids on December 3 from the Christian v
Published 11 Mar, 2014 12:00am
Bayern boss Hoeness admits far bigger tax dodge than charged with

Bayern boss Hoeness admits far bigger tax dodge than charged with

Bayern Munich president Uli Hoeness stunned a German court on Monday by admitting he had evaded taxes of 18.5 million euros ($26 million) using a secret Swiss bank account - more than five times the amount on a prosecutors' charge sheet. Once one of Germa
Published 11 Mar, 2014 12:00am
NSA leaks fuelled needed debate on spying: Snowden

NSA leaks fuelled needed debate on spying: Snowden

Former intelligence contractor Edward Snowden said Monday he has no regrets over his leaks about mass surveillance programs, saying they sparked a needed public debate on spying and data collection. Snowden, who spoke via video link from Russia to the SXS
Published 11 Mar, 2014 12:00am
Three police officials suspended

Three police officials suspended

Inspector General of Police (IGP) Khyber Pakhtunkhwa Nasir Khan Durrani, on a complaint of a citizen, suspended three officials of Police Station, Khazana. The suspended officials included ex-SHO Mukhtiar Khan, ex-CIO SI Aslam and CIO SI Sabz Ali. IGP als
Published 11 Mar, 2014 12:00am
'Thank you from Japan'

'Thank you from Japan'

On behalf of Japanese people, Hiroshi Inomata, The Ambassador of Japan to Pakistan, has expressed his sincere thanks and gratitude to the government and the people of Pakistan for their valuable support to the Japanese people in the aftermath of Great Eas
Published 11 Mar, 2014 12:00am
Khyber Pakhtunkhwa to establish special prisons' security force

Khyber Pakhtunkhwa to establish special prisons' security force

Advisor to Chief Minister for Prisons, Malik Qasim Khan has said that besides establishment of a special force for provision of foolproof security to prisons and prisoners, the government of Khyber Pakhtunkhwa is making prisons bomb-proof and the recruitm
Published 11 Mar, 2014 12:00am
Pharma companies increase drugs prices by 15 percent

Pharma companies increase drugs prices by 15 percent

The prices of some of the drugs have increased by 15 percent by the Pharmaceutical companies, traders at Bohar Bazaar (medicine wholesale market) told Business Recorder, here on Monday. Medicine traders told this correspondent that the pharma compa
Published 11 Mar, 2014 12:00am
Abbot ranked top employers in Pakistan

Abbot ranked top employers in Pakistan

Abbott has been ranked as one of the top five overall employers in Pakistan, and also was named the number one employer in the pharmaceutical industry. The rankings were announced by ROZEE.PK, and based on a survey of 14,876 people from across Pakistan.
Published 11 Mar, 2014 12:00am
Pakistan wants to boost ties with Kosovo at all levels: President

Pakistan wants to boost ties with Kosovo at all levels: President

President Mamnoon Hussain said Pakistan was keen to further strengthen friendly and mutually beneficial relations with the Republic of Kosovo at all levels including political, economic, commercial, cultural and educational fields.
Published 11 Mar, 2014 12:00am
Country's wheat stocks stand at 2.468 million tons

Country's wheat stocks stand at 2.468 million tons

The country has 2.468 million wheat stocks in hand, including 1.00 million tons strategic reserves whereas, closing stock of the commodity will be around 1.41 million tons at the end of the food year. According to a summary prepared by Ministry of Nationa
Published 11 Mar, 2014 12:00am
'Khattak giving special importance to IT'

'Khattak giving special importance to IT'

Principal Secretary to KP Chief Minister Mohammad Ashfaq Khan has said that KP Chief Minister Pervez Khattak is giving special importance to information technology for bringing transparency and effectiveness in the official matters of the government.
Published 11 Mar, 2014 12:00am
Coal terminal to add to people's woes

Coal terminal to add to people's woes

The proposed coal terminal at Karachi seaport is believed to add to health woes of residents of Keamari who are already suffering from the grim spectre of undergoing from the uncovered handling and storage of the black dust at the harbour. The continuing
Published 11 Mar, 2014 12:00am
Lacunas in 18th Amendment hurting tourism industry

Lacunas in 18th Amendment hurting tourism industry

Travel advisories issued to the foreign nationals living in Pakistan apart, lacunas in the 18th constitutional amendment is hurting tourism industry in the country, one of the significant sources of foreign exchange earnings. Pakistan could enrich itself
Published 11 Mar, 2014 12:00am
TCP former chief's death condoled

TCP former chief's death condoled

A condolence meeting of TCP's officers, under the Chair of Rizwan Ahmed, Chairman TCP, was held on Monday to condole the sad demise of TCP's former chairman Ali Khan Junejo, who recently passed away. During the condolence meeting, beside directors and gen
Published 11 Mar, 2014 12:00am
KEPZ registers 22 percent growth

KEPZ registers 22 percent growth

Karachi Export Processing Zone has registered a healthy growth of 22 percent during the last three months (December 2013 - February 2014) when compared with the same period of last year. In all, KEPZ posted exports figure $94 million in the above mentione
Published 11 Mar, 2014 12:00am
SMBL posts Rs 1.828 billion loss after tax

SMBL posts Rs 1.828 billion loss after tax

Summit Bank Limited (SMBL) has posted a loss after tax of Rs 1.828 billion for the year ended on December 31, 2013. However, the loss is some Rs 906 million or 33 per cent lower than previous year (2012), in which the bank posted a loss after tax of Rs 2.
Published 11 Mar, 2014 12:00am
SMBL posts Rs 1.828 billion loss after tax

SMBL posts Rs 1.828 billion loss after tax

Summit Bank Limited (SMBL) has posted a loss after tax of Rs 1.828 billion for the year ended on December 31, 2013. However, the loss is some Rs 906 million or 33 per cent lower than previous year (2012), in which the bank posted a loss after tax of Rs 2.
Published 11 Mar, 2014 12:00am
Fun Fair Festival gets under way at Sindh University

Fun Fair Festival gets under way at Sindh University

A 3-day Fun Fair Festival organised by the Bureau of STAGS in collaboration with the department of Public Administration, University of Sindh (SU) was opened on Monday at Arts Faculty of the varsity, will continue till March 12, 2014 with full swing. Exhi
Published 11 Mar, 2014 12:00am
Rabi crops: winter rainy spell will have positive impact

Rabi crops: winter rainy spell will have positive impact

Ongoing winter rainy spell will have positive impact on Rabi crops particularly wheat, pulses and fruit orchards in the country, said agricultural and Metrological experts on Monday. "The recent rains will play a positive role in grain production and cont
Published 11 Mar, 2014 12:00am
K-Electric unearths two major power theft cases in West Wharf

K-Electric unearths two major power theft cases in West Wharf

According to a press statement released by K-Electric, inspection teams raided West Wharf and unearthed two major cases of electricity theft which were being carried out through direct illegal connections, and issued recovery notices to the culprits accum
Published 11 Mar, 2014 12:00am
Food items from KP arrive at Mithi

Food items from KP arrive at Mithi

A convoy of 15 trucks loaded with food items from the Khyber Pakhtunkhwa (KP) for distribution among the famine-affected people arrived in Mithi on Monday. On the directives of Chief Minister Khyber Pakhtunkhwa Pervez Khattak‚ another relief caravan will
Published 11 Mar, 2014 12:00am
Famine-hit people 8,83,000kg wheat distributed

Famine-hit people 8,83,000kg wheat distributed

The Sindh Food Department has so far distributed 8,83,000 kilogrammes wheat among drought-hit people of Tharparkar and further supply is being rushed to the area. As per details, 2,217 wheat bags were distributed in Mithi, 2,932 bags in Islamkot, 1,221 ba
Published 11 Mar, 2014 12:00am
Drought-hit Thar: two more children die in hospital

Drought-hit Thar: two more children die in hospital

Two more children died in the drought-hit district of Tharparkar in Civil Hospital here on Monday. A focal person of Drought Children of Civil Hospital Dr Muhammad Anwar Palari informed that one of the victims was identified as one month-old baby Samina R
Published 11 Mar, 2014 12:00am
Dutch minister apprises Dar of economic partnership

Dutch minister apprises Dar of economic partnership

Simon Smits, the Netherlands' Vice Minister for Trade met with the Finance Minister Senator Ishaq Dar here on Monday, and informed him that Netherlands would like to have a trade and economic partnership with Pakistan and the Dutch companies are keenly in
Published 11 Mar, 2014 12:00am
ICAP to propose exclusion of FBR from budgetary process

ICAP to propose exclusion of FBR from budgetary process

Institute of Chartered Accountants of Pakistan (ICAP) will recommend to ministry of finance, in its budget proposals 2014-15, not to engage Federal Board of Revenue (FBR) in budget making process, said president ICAP, Naeem Akhtar Sheikh.
Published 11 Mar, 2014 12:00am
Sindh has adequate wheat stock to meet existing demand

Sindh has adequate wheat stock to meet existing demand

Sindh province has adequate wheat stock to meet the existing demand till the arrival of next crop, traders said on Monday. Talking to Business Recorder they said that presently Sindh has some 0.113 million tons wheat stock in its godowns and recent
Published 11 Mar, 2014 12:00am
Anti-polio drive begins in Balochistan amid tight security

Anti-polio drive begins in Balochistan amid tight security

A three-day anti polio campaign began in five districts of Balochistan on Monday amidst tight security. Officials in the Health Department said medical teams reached five districts of the province, including Quetta, Pishin, Qila Abdullah, Zhob and Sherani
Published 11 Mar, 2014 12:00am
Hartmut Noack rejoins Islamabad Marriott Hotel

Hartmut Noack rejoins Islamabad Marriott Hotel

Hartmut Noack re-joins Islamabad Marriott hotel as the GM with the additional responsibilities of the Regional General Manager of Marriott hotels Pakistan. Irshad Anjum, Director Operations, while making the announcement, said: "Noack is not new to Pakist
Published 11 Mar, 2014 12:00am
PHMEA concerned at rupee's appreciation against dollar

PHMEA concerned at rupee's appreciation against dollar

Pakistan Hosiery Manufacturers & Exporters Association (PHMEA) on Monday expressed concerns over the appreciation of Pak rupee against dollar, which has a serious impact on exporters. "The appreciation of rupee against dollar during your tenure is no doub
Published 11 Mar, 2014 12:00am
Educators Forum selects new executive committee

Educators Forum selects new executive committee

The Educators Forum reiterated to keep providing quality education at affordable price to the children of metropolis. All partners of the Forum discussed how to further better its efforts for quality education in a recently held meeting.
Published 11 Mar, 2014 12:00am
SME business delegation visits Japan

SME business delegation visits Japan

Sohail P. Ahmed, Chairman of PJBF, led a delegation of medium sized businesses of Pakistan to Japan. The forum had arranged match making appointments with their potential counterparts in Japan. The delegation was the second of its kind by PJBF. The first
Published 11 Mar, 2014 12:00am
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