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Print - 2014-05-21
Vacant Senate seat: PPP to give party ticket to Taj Haider

Vacant Senate seat: PPP to give party ticket to Taj Haider

The central leadership of Pakistan People's Party (PPP) has decided to give party ticket for the vacant Senate seat from Sindh to senior party leader Taj Haider. Informed sources told Business Recorder that the decision was taken during a party mee
Published 21 May, 2014 12:00am
KPK accuses Punjab of hindering wheat supplies

KPK accuses Punjab of hindering wheat supplies

The Supreme Court Tuesday observed that supplying essential commodities at affordable prices is government's basic constitutional responsibility. The court also sought a reply from the Punjab government in response to Khyber Pukhtoonkhwa's (KPK) plea that
Published 21 May, 2014 12:00am
Rental power scam: reference to be filed this week: NAB spokesman

Rental power scam: reference to be filed this week: NAB spokesman

The National Accountability Bureau (NAB) is going to file a reference against M/s Karkey in the accountability court in the multibillion Rental Power Plants (RPPs) scam by the end of this week. "The NAB executive board has approved the filing of a referen
Published 21 May, 2014 12:00am
Body of tourist girl found

Body of tourist girl found

A body of tourist girl was found in a room of a hotel at Bahrain, district Swat. The girl was stated to be killed after sexual abused by her companion, said police source. Police said that they were informed by the management of the local hotel that a tou
Published 21 May, 2014 12:00am
Senators for an end to protracted media clash

Senators for an end to protracted media clash

The Senate on Tuesday resumed discussion on political situation in the aftermath of attack on Hamid Mir. Speaking on the occasion, they said a committee of parliamentarians should be formed to resolve the conflict among different media groups. Taking part
Published 21 May, 2014 12:00am
April 2014: Discos tariff may be slashed by Rs 1.48 per unit

April 2014: Discos tariff may be slashed by Rs 1.48 per unit

National Electric Power Regulatory Authority (Nepra) is expected to slash power tariff of Distribution Companies (Discos) by Rs 1.48 per unit for April 2014 under the monthly fuel adjustment mechanism. Nepra will hear a petition on Wednesday (today) filed
Published 21 May, 2014 12:00am
Third International Halal expo begins on May 22

Third International Halal expo begins on May 22

3rd International Halal conference and expo will be held from May 22 to 23, 2014 at Expo Center Lahore to show case the Halal Trade Potential of Pakistan. In the Event, More than 30 renowned Importers of Halal Industry from Malaysia, Thailand, Saudi Arabi
Published 21 May, 2014 12:00am
Zong to set up mini CSC at Wagha border

Zong to set up mini CSC at Wagha border

Zong, Pakistan's first and only Super 3G and 4G LTE telecom network and a part of China Mobile Pakistan, has agreed to set up a mini customer service centre (CSC) at PTDC motel, Wagha border, Lahore. The CSC is being set up to provide Indian visitors with
Published 21 May, 2014 12:00am
FATA reforms: government to take all stakeholders on board: Mahtab

FATA reforms: government to take all stakeholders on board: Mahtab

Khyber Pakhtunkhwa Governor, Sardar Mahtab Ahmad Khan has said it is the high time to correct the wrong perceptions; build positive image of ourselves and make best use of the available resources both for betterment of the people and the country. The situ
Published 21 May, 2014 12:00am
Gas allocation: APTMA's Punjab chapter seeks amendment to formula

Gas allocation: APTMA's Punjab chapter seeks amendment to formula

All Pakistan Textile Mills (APTMA) Punjab has requested the federal government to amend gas allocation formula after seeking consent from the Council of Common Interests (CCI) as the textile industry in Punjab is facing a Rs 82 billion financial loss due
Published 21 May, 2014 12:00am
Bandits loot woman, injure cop

Bandits loot woman, injure cop

Armed robbers, who have snatched purse from a woman at Double Road in Rawalpindi, on Tuesday opened fire on police personnel deputed at the police-picket near Faizabad. Police said that robbers opened fire on a police constable Safdar at police check-post
Published 21 May, 2014 12:00am
Tobacco promotional activities: petition filed seeking to lift ban

Tobacco promotional activities: petition filed seeking to lift ban

A cigarette manufacturing company has filed a petition in Sindh High Court (SHC) pleading that the government should lift the ban on advertisement and promotion activities of tobacco products. It is learnt here on Tuesday that the company seeks to lift ba
Published 21 May, 2014 12:00am
USAID steps in to restoring bee-farming in Swat

USAID steps in to restoring bee-farming in Swat

The worst-ever flood of 2010 played havoc with the natural beauty of Swat; it also dealt a sharp blow to the earnings of the local inhabitants. As a rough estimate it did away with the earnings of 700,000 farmers in the Swat valley and more than 200,000 i
Published 21 May, 2014 12:00am
Senate body briefed about uplift works in Fata

Senate body briefed about uplift works in Fata

The oil and gas exploration companies, despite acquiring petroleum concession leases/blocks in Fata, are not undertaking exploration works. While briefing the Senate Standing Committee on SAFRON, which met here on Tuesday with Senator Muhammad Saleh Shah
Published 21 May, 2014 12:00am
PCB chairman: IHC verdict challenged by government

PCB chairman: IHC verdict challenged by government

The Federal government on Tuesday challenged the Islamabad High court decision of May 17, 2014 that had reinstated Muhammad Zaka Ashraf as Pakistan Cricket Board (PCB) chairman. Senior advocate Supreme Court Asma Jehangir filed a petition on behalf of Fed
Published 21 May, 2014 12:00am
PCB chairman: IHC verdict challenged by government

PCB chairman: IHC verdict challenged by government

The Federal government on Tuesday challenged the Islamabad High court decision of May 17, 2014 that had reinstated Muhammad Zaka Ashraf as Pakistan Cricket Board (PCB) chairman. Senior advocate Supreme Court Asma Jehangir filed a petition on behalf of Fed
Published 21 May, 2014 12:00am
The Weather

The Weather

The weather report on Tuesday (May 20, 2014) and the forecast for Wednesday (May 21, 2014).

Published 21 May, 2014 12:00am
Upfront tariffs for coal-fired power plants revised

Upfront tariffs for coal-fired power plants revised

National Electric Power Regulatory Authority (Nepra) has revised upfront tariffs for coal fired power plants by fixing efficiency level at par for imported and local plants for 30 years to be financed through local and foreign funds. Both the federal gove
Published 21 May, 2014 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (May 20, 2014).

Published 21 May, 2014 12:00am
SBP clarifies prize bond issue

SBP clarifies prize bond issue

The State Bank of Pakistan has issued the following clarification regarding 20,000 missing pieces of prize bond forms of Rs 1500 bearing serial numbers AW070001 to AW090000: A consignment of un-stamped prize bond forms was dispatched by SBP Lahore office
Published 21 May, 2014 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Tuesday (May 20, 2014).

Published 21 May, 2014 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 21 May, 2014 12:00am
Cheques: banks told to enhance security features

Cheques: banks told to enhance security features

The State Bank of Pakistan (SBP) has asked banks for enhancement of security features in cheques. In view of certain difficulties expressed by the stakeholders and to facilitate smooth transition of the industry to the newly-prescribed security features,
Published 21 May, 2014 12:00am
LME official prices

LME official prices

The following were Monday official prices.

Published 21 May, 2014 12:00am
Audit points out discrepancies in TCP's accounts

Audit points out discrepancies in TCP's accounts

Independent auditors have pointed out a number of discrepancies in form of qualifications during the audit of Trading Corporation of Pakistan (TCP) for the year 2012-13 (FY13). External auditors, who audited the balance sheet of TCP and the related profit
Published 21 May, 2014 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Tuesday (May 20, 2014).

Published 21 May, 2014 12:00am
Jubilee Life Insurance: Know the company

Jubilee Life Insurance: Know the company

Jubilee Life Insurance (formerly known as New Jubilee Life Insurance)--the largest private sector life insurer in Pakistan holds a market share of 41 percent as of September 2013 (in terms of gross premiums), according to the data published by Insurance A
Published 21 May, 2014 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (May 20, 2014).

Published 21 May, 2014 12:00am
Jubilee Life Insurance: Know the company

Jubilee Life Insurance: Know the company

Jubilee Life Insurance (formerly known as New Jubilee Life Insurance)--the largest private sector life insurer in Pakistan holds a market share of 41 percent as of September 2013 (in terms of gross premiums), according to the data published by Insurance A
Published 21 May, 2014 12:00am
Electricity and gas tariffs

Electricity and gas tariffs

One major reason of electricity loadshedding in Pakistan is that governments to appear people-friendly try to provide electricity at tariffs below generation cost which unfortunately now contain cost of 25 to 30 percent line losses. Present regime has gon
Published 21 May, 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 (May 20, 2014).

Published 21 May, 2014 12:00am
AT&T-DirecTV tie-up shifts focus from Comcast megadeal

AT&T-DirecTV tie-up shifts focus from Comcast megadeal

AT&T's blockbuster deal for DirecTV raises new concerns about consolidation in the US pay TV sector, but may also lead to a rethinking of another megadeal involving cable giant Comcast. Some early reactions were skeptical after AT&T on Sunday announced a
Published 21 May, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (May 20, 2014).

Published 21 May, 2014 12:00am
Anti-corruption movement reels from India poll 'debacle'

Anti-corruption movement reels from India poll 'debacle'

Its stunning electoral debut six months ago prevented Narendra Modi's party from taking power of the Delhi state assembly and spectacularly underlined the mounting anger among the public over bribery. But after the Aam Aadmi Party (AAP) won just four seat
Published 21 May, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (May 20, 2014).

Published 21 May, 2014 12:00am
Regulatory rules

Regulatory rules

In the midst of the political turmoil, the pressing priority for government and its allies is to repair the financial systems and restore the economy. Just as important, however, will be addressing the serious flaws in regulatory rules. Some of these laws
Published 21 May, 2014 12:00am
TTP split that deepens

TTP split that deepens

The simmering split between pro- and anti-Pakistan factions of Taliban reportedly came to a head over the weekend when the central shura of Tehreek-e-Taliban Pakistan refused to endorse its chief Mullah Fazlullah's order of sacking Khan Said alias Sajna.
Published 21 May, 2014 12:00am
Upmanship in Ramazan packages

Upmanship in Ramazan packages

Punjab Chief Minister Shahbaz Sharif has announced a 5 billion rupee Ramazan package - 3 billion rupees more than the package announced by the federal government. Punjab's one-upmanship under Shahbaz Sharif relative to the federal government was patently
Published 21 May, 2014 12:00am
THE RUPEE: dollar rises

THE RUPEE: dollar rises

The rupee failed to come out of the woods as it continued its slide for the second day in a row due to a strong demand for the dollar on the money market on Tuesday, dealers said. The rupee drifted lower against the dollar, shedding 13-paisa for buying at
Published 21 May, 2014 12:00am
Emotional Modi pledges to serve India ahead of swearing-in

Emotional Modi pledges to serve India ahead of swearing-in

India's prime minister-elect Narendra Modi choked back tears Tuesday and promised to try to live up to expectations as he made his first visit to parliament since his sweeping election victory. The 63-year-old leader bowed and kissed the steps of the buil
Published 21 May, 2014 12:00am
THE RUPEE: dollar rises

THE RUPEE: dollar rises

The rupee failed to come out of the woods as it continued its slide for the second day in a row due to a strong demand for the dollar on the money market on Tuesday, dealers said. The rupee drifted lower against the dollar, shedding 13-paisa for buying at
Published 21 May, 2014 12:00am
Emotional Modi pledges to serve India ahead of swearing-in

Emotional Modi pledges to serve India ahead of swearing-in

India's prime minister-elect Narendra Modi choked back tears Tuesday and promised to try to live up to expectations as he made his first visit to parliament since his sweeping election victory. The 63-year-old leader bowed and kissed the steps of the buil
Published 21 May, 2014 12:00am
TV channel comes under increasing pressure

TV channel comes under increasing pressure

Pakistan's major television station said it was ramping up security on Tuesday after it became the object of dozens of blasphemy accusations for playing a song during an interview with an actress. Geo Television is scrubbing logos off its vans and limitin
Published 21 May, 2014 12:00am
TV channel comes under increasing pressure

TV channel comes under increasing pressure

Pakistan's major television station said it was ramping up security on Tuesday after it became the object of dozens of blasphemy accusations for playing a song during an interview with an actress. Geo Television is scrubbing logos off its vans and limitin
Published 21 May, 2014 12:00am
Suspension of licences: decision against TV channel termed 'illegal'

Suspension of licences: decision against TV channel termed 'illegal'

As many as five private members of the Pakistan Electronic Media Regulatory Authority (Pemra) on Tuesday suspended three television channels licences run by the Geo TV Network. However, a spokesman for the Pemra told Business Recorder that the meet
Published 21 May, 2014 12:00am
Suspension of licences: decision against TV channel termed 'illegal'

Suspension of licences: decision against TV channel termed 'illegal'

As many as five private members of the Pakistan Electronic Media Regulatory Authority (Pemra) on Tuesday suspended three television channels licences run by the Geo TV Network. However, a spokesman for the Pemra told Business Recorder that the meet
Published 21 May, 2014 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Tuesday (May 20, 2014).

Published 21 May, 2014 12:00am
Name on ECL: Musharraf should move Supreme Court, says AGP

Name on ECL: Musharraf should move Supreme Court, says AGP

Sindh High Court (SHC) on Tuesday adjourned till May 21 (tomorrow) the hearing of a petition filed by General Pervez Musharraf (Retd) against restrictions on his travel abroad. A division bench headed by Justice Muhammad Ali Mazhar partly heard the argume
Published 21 May, 2014 12:00am
Name on ECL: Musharraf should move Supreme Court, says AGP

Name on ECL: Musharraf should move Supreme Court, says AGP

Sindh High Court (SHC) on Tuesday adjourned till May 21 (tomorrow) the hearing of a petition filed by General Pervez Musharraf (Retd) against restrictions on his travel abroad. A division bench headed by Justice Muhammad Ali Mazhar partly heard the argume
Published 21 May, 2014 12:00am
''PIA flight operation remains normal''

''PIA flight operation remains normal''

Despite shortage in fuel supply for Karachi airport, flight operation of Pakistan International Airlines (PIA) remained normal on Tuesday. According to a spokesman, the flight operation department of the airline had devised a comprehensive strategy to dea
Published 21 May, 2014 12:00am
'PIA flight operation remains normal'

'PIA flight operation remains normal'

Despite shortage in fuel supply for Karachi airport, flight operation of Pakistan International Airlines (PIA) remained normal on Tuesday. According to a spokesman, the flight operation department of the airline had devised a comprehensive strategy to dea
Published 21 May, 2014 12:00am
'PIA flight operation remains normal'

'PIA flight operation remains normal'

Despite shortage in fuel supply for Karachi airport, flight operation of Pakistan International Airlines (PIA) remained normal on Tuesday. According to a spokesman, the flight operation department of the airline had devised a comprehensive strategy to dea
Published 21 May, 2014 12:00am
Foreign assets: LHC decides to serve notices through newspapers

Foreign assets: LHC decides to serve notices through newspapers

The Lahore High Court here on Tuesday decided to serve notices on politicians and others through newspapers, asking them to submit their replies in response to a petition urging the court to direct respondents to bring their foreign assets back to Pakista
Published 21 May, 2014 12:00am
Foreign assets: LHC decides to serve notices through newspapers

Foreign assets: LHC decides to serve notices through newspapers

The Lahore High Court here on Tuesday decided to serve notices on politicians and others through newspapers, asking them to submit their replies in response to a petition urging the court to direct respondents to bring their foreign assets back to Pakista
Published 21 May, 2014 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 21 May, 2014 12:00am
Thai army invokes martial law, urges rivals to talk

Thai army invokes martial law, urges rivals to talk

Thailand's army chief imposed martial law Tuesday after months of deadly anti-government protests caused political paralysis, but insisted the intervention did not amount to yet another military coup. Gun-toting troops fanned out after martial law was dec
Published 21 May, 2014 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 21 May, 2014 12:00am
Thai army invokes martial law, urges rivals to talk

Thai army invokes martial law, urges rivals to talk

Thailand's army chief imposed martial law Tuesday after months of deadly anti-government protests caused political paralysis, but insisted the intervention did not amount to yet another military coup. Gun-toting troops fanned out after martial law was dec
Published 21 May, 2014 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 21 May, 2014 12:00am
ISE index sheds 62.71 points

ISE index sheds 62.71 points

Bears retuned in the driving seat at the Islamabad Stock Exchange (ISE) on Tuesday, where losers outclassed gainers amid decrease in index. ISE Ten Index showed a decrease of 62.71 points as the ISE Ten Index moved from 4,447.95 to 4,385.24 points.
Published 21 May, 2014 12:00am
ISE index sheds 62.71 points

ISE index sheds 62.71 points

Bears retuned in the driving seat at the Islamabad Stock Exchange (ISE) on Tuesday, where losers outclassed gainers amid decrease in index. ISE Ten Index showed a decrease of 62.71 points as the ISE Ten Index moved from 4,447.95 to 4,385.24 points.
Published 21 May, 2014 12:00am
LSE index up by 35.02 points

LSE index up by 35.02 points

Equities registered more gains on the Lahore Stock Exchange (LSE) amid descending transaction volume on Tuesday. The LSE-25 index gained 35.02 points to close at 5357.97 against 5322.95 of Monday, while transaction volume was declined to 0.828 million sha
Published 21 May, 2014 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 21 May, 2014 12:00am
LSE index up by 35.02 points

LSE index up by 35.02 points

Equities registered more gains on the Lahore Stock Exchange (LSE) amid descending transaction volume on Tuesday. The LSE-25 index gained 35.02 points to close at 5357.97 against 5322.95 of Monday, while transaction volume was declined to 0.828 million sha
Published 21 May, 2014 12:00am
Nigeria car bombing death toll at least 118

Nigeria car bombing death toll at least 118

At least 118 people were killed in a car bomb attack in the central Nigerian city of Jos, the country's relief agency said on Tuesday, warning that the death toll could rise further. "The exact figure of the dead bodies recovered as of now is 118," Mohamm
Published 21 May, 2014 12:00am
Government urged to make Customs' officials accountable

Government urged to make Customs' officials accountable

Member Managing Committee, Karachi Chamber of Commerce and Industry (KCCI), Hasnain Sheikh Vohra, has urged the government to make Customs appraisers and deputy commissioners accountable at all levels. He was of the view that when traders and consignees a
Published 21 May, 2014 12:00am
Members of National Assembly body visit SLIC office

Members of National Assembly body visit SLIC office

The National Assembly's Standing Committee on Commerce under the Chairmanship of Siraj Muhammad Khan visited State Life Insurance Corporation of Pakistan, Principal Office, Karachi. The delegation was received by executive directors M Raeesuddin Paracha,
Published 21 May, 2014 12:00am
Businessmen give mixed reaction over monetary policy

Businessmen give mixed reaction over monetary policy

The business community has expressed mixed reaction over keeping interest rates unchanged at 10 per cent for the next two months in the recently-announced monetary policy by State Bank of Pakistan. They said that although they were expecting a reduction i
Published 21 May, 2014 12:00am
ECP to probe Imran's allegations

ECP to probe Imran's allegations

Election Commission of Pakistan has decided to probe the allegations of rigging levelled by Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan. According to, Election Commission of Pakistan (ECP) spokesman, ECP will examine the record of a polling station
Published 21 May, 2014 12:00am
One killed, two injured in incidents of violence

One killed, two injured in incidents of violence

One person was killed while two others were injured in different incidents of violence here on Tuesday. According to police and rescue sources, Hassan Mehdi, 45, son of Syed Mehdi was shot and killed by unidentified motorcyclists in Korangi No-3/5 in the
Published 21 May, 2014 12:00am
China accuses US of 'hypocrisy' as hacking row escalates

China accuses US of 'hypocrisy' as hacking row escalates

Beijing summoned the US ambassador and accused Washington of double standards Tuesday as a diplomatic row escalated over the unprecedented indictment of five Chinese military officers for cyber-espionage. The world's top two economies have long been at lo
Published 21 May, 2014 12:00am
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