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Print - 2014-05-22
PTCL's summer offer for EVO 3.1 device

PTCL's summer offer for EVO 3.1 device

Pakistan Telecommunications Company Limited (PTCL) has introduced a new summer offer for EVO 3.1 device, which enables customers to experience wireless broadband free of charge for one month. Additionally, customers can also avail a discount on their mont
Published 22 May, 2014 12:00am
ICC rejects final Libya bid to try Kadhafi son Seif

ICC rejects final Libya bid to try Kadhafi son Seif

The International Criminal Court on Wednesday rejected a final bid by Tripoli's lawyers to try slain dictator Muammar Qadhafi's son Seif al-Islam in Libya, meaning he must now be transferred to The Hague. Seif's transfer to face charges relating to the bl
Published 22 May, 2014 12:00am
Zuma given second term as South African president

Zuma given second term as South African president

South African President Jacob Zuma was elected for a second five-year term by parliament on Wednesday, as radical lawmakers shook up the normally staid proceedings. An attempt by the opposition to have Zuma declared unfit for office because of alleged gra
Published 22 May, 2014 12:00am
Cuba dissident's digital newspaper blocked

Cuba dissident's digital newspaper blocked

Dissident blogger Yoanni Sanchez's new digital newspaper was blocked in Cuba on Wednesday, just hours after it was launched online. Cuban visitors to the site were redirected to another page, Yoanislandi.com, which was filled with attacks on the prize-win
Published 22 May, 2014 12:00am
UN nuclear watchdog, Iran agree new transparency measures

UN nuclear watchdog, Iran agree new transparency measures

The UN atomic watchdog said Wednesday it has agreed with Iran five new transparency measures, including two concerning a long-stalled probe into Tehran's alleged past efforts to develop atomic weapons. The International Atomic Energy Agency said that Iran
Published 22 May, 2014 12:00am
VIEWPOINT: The Modi wave

VIEWPOINT: The Modi wave

The Modi wave, as the man himself predicted, has swept the Indian elections giving the Hindu nationalist BJP under him the largest parliamentary majority in 30 years. The factors behind Congress party's rout are obvious: incumbency, corruption, sluggish e
Published 22 May, 2014 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 22 May, 2014 12:00am
ISE index down by 14.43 points

ISE index down by 14.43 points

Bears retuned in the driving seat at the Islamabad Stock Exchange (ISE) on Wednesday, where losers outclassed gainers amid decrease in index. ISE Ten Index showed a decrease of 14.43 points as the ISE Ten Index moved from 4,385.24 to 4,370.81 points. The
Published 22 May, 2014 12:00am
LSE index jumps by 107.40 points

LSE index jumps by 107.40 points

Bullish sentiments dominated on the Lahore Stock Exchange on Wednesday and the equities registered gains amid ascending transaction volume following buyers' interest in select scrips. The LSE-25 index was jumped to 5461.92 against 5354.52 of Tuesday, deno
Published 22 May, 2014 12:00am
LSE index jumps by 107.40 points

LSE index jumps by 107.40 points

Bullish sentiments dominated on the Lahore Stock Exchange on Wednesday and the equities registered gains amid ascending transaction volume following buyers' interest in select scrips. The LSE-25 index was jumped to 5461.92 against 5354.52 of Tuesday, deno
Published 22 May, 2014 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 22 May, 2014 12:00am
TV channel: Pemra asked to decide case on merit: minister

TV channel: Pemra asked to decide case on merit: minister

Federal Minister for Information and Broadcasting Pervaiz Rasheed on Wednesday said the Pakistan Electronic Media Regulatory Authority (Pemra) is an independent body and the government does not want to interfere in its affairs. Talking to media persons in
Published 22 May, 2014 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 22 May, 2014 12:00am
TV channel: Pemra asked to decide case on merit: minister

TV channel: Pemra asked to decide case on merit: minister

Federal Minister for Information and Broadcasting Pervaiz Rasheed on Wednesday said the Pakistan Electronic Media Regulatory Authority (Pemra) is an independent body and the government does not want to interfere in its affairs. Talking to media persons in
Published 22 May, 2014 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

Published 22 May, 2014 12:00am
US troops deploy to Chad in hunt for Nigerian girls

US troops deploy to Chad in hunt for Nigerian girls

The United States has deployed 80 military personnel to Chad to help regional efforts to rescue more than 200 schoolgirls kidnapped in neighbouring Nigeria, President Barack Obama said Wednesday. "These personnel will support the operation of intelligence
Published 22 May, 2014 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 22 May, 2014 12:00am
US troops deploy to Chad in hunt for Nigerian girls

US troops deploy to Chad in hunt for Nigerian girls

The United States has deployed 80 military personnel to Chad to help regional efforts to rescue more than 200 schoolgirls kidnapped in neighbouring Nigeria, President Barack Obama said Wednesday. "These personnel will support the operation of intelligence
Published 22 May, 2014 12:00am
Pakistan, India: US hails hopes of better ties

Pakistan, India: US hails hopes of better ties

The United States Wednesday welcomed hopes of better ties between India and Pakistan as Indian prime minister-elect Narendra Modi invited Pakistan's premier Nawaz Sharif to his swearing-in, which the US said it will not attend. "Broadly speaking, we welco
Published 22 May, 2014 12:00am
Pakistan, India: US hails hopes of better ties

Pakistan, India: US hails hopes of better ties

The United States Wednesday welcomed hopes of better ties between India and Pakistan as Indian prime minister-elect Narendra Modi invited Pakistan's premier Nawaz Sharif to his swearing-in, which the US said it will not attend. "Broadly speaking, we welco
Published 22 May, 2014 12:00am
Modi invites Nawaz to swearing-in

Modi invites Nawaz to swearing-in

Indian prime minister-elect Narendra Modi has invited premier Nawaz Sharif to his swearing-in next Monday in a bold diplomatic statement that he intends to improve strained relations. A government official said Wednesday invitations to the ceremony had be
Published 22 May, 2014 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (May 21, 2014).

Published 22 May, 2014 12:00am
Modi invites Nawaz to swearing-in

Modi invites Nawaz to swearing-in

Indian prime minister-elect Narendra Modi has invited premier Nawaz Sharif to his swearing-in next Monday in a bold diplomatic statement that he intends to improve strained relations. A government official said Wednesday invitations to the ceremony had be
Published 22 May, 2014 12:00am
No decision yet: FO

No decision yet: FO

Foreign Office spokesperson Tasnim Aslam told Business Recorder that an invitation has been received but no decision has been made yet over whether or not Prime Minister Nawaz Sharif will attend the ceremony. The invitation was received via Indian
Published 22 May, 2014 12:00am
No decision yet: FO

No decision yet: FO

Foreign Office spokesperson Tasnim Aslam told Business Recorder that an invitation has been received but no decision has been made yet over whether or not Prime Minister Nawaz Sharif will attend the ceremony. The invitation was received via Indian
Published 22 May, 2014 12:00am
Blast creates panic in Guru Mandir area

Blast creates panic in Guru Mandir area

A blast ripped through an office of a courier company in Guru Mandir area, here on Wednesday night, Aaj News reported. The blast damaged the office of the courier company, said police sources. However, no harm was caused to the human life, sources said. P
Published 22 May, 2014 12:00am
Blast creates panic in Guru Mandir area

Blast creates panic in Guru Mandir area

A blast ripped through an office of a courier company in Guru Mandir area, here on Wednesday night, Aaj News reported. The blast damaged the office of the courier company, said police sources. However, no harm was caused to the human life, sources said. P
Published 22 May, 2014 12:00am
THE RUPEE: all-round slide

THE RUPEE: all-round slide

The rupee fell against the dollar and euro on the local currency market on Wednesday in the process of trading, dealers said. The rupee extended overnight slide versus the dollar, losing five-paisa for buying at Rs 98.85 and it also shed two-paisa for sel
Published 22 May, 2014 12:00am
Punjab approves Rs 15.031 billion for uplift schemes

Punjab approves Rs 15.031 billion for uplift schemes

The Punjab government on Wednesday approved ten development schemes of different economic sectors with an estimated cost of Rs 15031.201 million. These schemes were approved in the 43rd meeting of Provincial Development Working Party of current fiscal yea
Published 22 May, 2014 12:00am
THE RUPEE: all-round slide

THE RUPEE: all-round slide

The rupee fell against the dollar and euro on the local currency market on Wednesday in the process of trading, dealers said. The rupee extended overnight slide versus the dollar, losing five-paisa for buying at Rs 98.85 and it also shed two-paisa for sel
Published 22 May, 2014 12:00am
US oil hits two-month high on inventory drop

US oil hits two-month high on inventory drop

US oil reached a one-month high on Wednesday, rising nearly $2 a barrel, after the government reported a large draw in commercial crude stocks, while renewed fighting in Libya that kept output low boosted Brent prices. US crude stocks fell last week as im
Published 22 May, 2014 12:00am
Cherat Cement Company Limited

Cherat Cement Company Limited

The Cherat Cement Company Limited (KSE: CHCC) was incorporated in the year 1981 and is currently listed at all three major stock exchanges of the country-Karachi, Lahore and Islamabad. CHCC's plant, which has an installed cement production capacity of 1.1
Published 22 May, 2014 12:00am
Cherat Cement Company Limited

Cherat Cement Company Limited

The Cherat Cement Company Limited (KSE: CHCC) was incorporated in the year 1981 and is currently listed at all three major stock exchanges of the country-Karachi, Lahore and Islamabad. CHCC's plant, which has an installed cement production capacity of 1.1
Published 22 May, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 21, 2014).

Published 22 May, 2014 12:00am
PIBs auction: government raises Rs 245 billion

PIBs auction: government raises Rs 245 billion

The federal government borrowed over Rs 245 billion through auction of long-term government bonds against auction target of Rs 100 billion. Bankers said the huge borrowing shows the government intention to re-profile its domestic debt to longer term to re
Published 22 May, 2014 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (May 21, 2014).

Published 22 May, 2014 12:00am
PIBs auction: government raises Rs 245 billion

PIBs auction: government raises Rs 245 billion

The federal government borrowed over Rs 245 billion through auction of long-term government bonds against auction target of Rs 100 billion. Bankers said the huge borrowing shows the government intention to re-profile its domestic debt to longer term to re
Published 22 May, 2014 12:00am
One killed in city

One killed in city

One person was killed in an incident of violence here on Tuesday. According to police and rescue sources, Tariq son of Saleh was shot and killed by unidentified persons in Federal-B (FB) area, Block-16. The body was shifted to Abbasi Shaheed Hospital (ASH
Published 22 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 Wednesday (May 21, 2014).

Published 22 May, 2014 12:00am
South Asian anti-corruption agencies toothless: TI

South Asian anti-corruption agencies toothless: TI

South Asia's corruption-fighting agencies lack the power and independence to properly investigate politicians and officials for graft entrenched in the region, a watchdog said Wednesday. A report released by Berlin-based Transparency International said ma
Published 22 May, 2014 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (May 21, 2014).

Published 22 May, 2014 12:00am
Smeda holds series of B2B meetings with Italy

Smeda holds series of B2B meetings with Italy

Investment Promotion Unit (IPU) of the Small and Medium Enterprises Development Authority (Smeda) on Wednesday arranged a series of business-to-business meetings between Italian and Pakistani entrepreneurs at Pakistan-Italian Trade & Investment Business F
Published 22 May, 2014 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (May 21, 2014).

Published 22 May, 2014 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 22 May, 2014 12:00am
PML-N responds to Imran's allegations

PML-N responds to Imran's allegations

Pakistan Muslim League-Nawaz (PML-N) chief co-ordinator Siddique-ul-Farooq on Wednesday released his party's response in a "fact-sheet" to the allegations levelled by Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan against the government. "The success of
Published 22 May, 2014 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 22 May, 2014 12:00am
Nawaz, others: petitioner seeks contempt proceedings

Nawaz, others: petitioner seeks contempt proceedings

A contempt of court petition filed in Lahore High Court has urged the court to take action against Prime Minister Nawaz Sharif, his wife Kalsoom Nawaz, son Hussain Nawaz, PML-Q Chief Chaudhry Shujaat Hussain and Humayon Akhtar Khan for refusing to receive
Published 22 May, 2014 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (May 21, 2014).

Published 22 May, 2014 12:00am
Warid, SKMCH carry out anti-tobacco awareness drive

Warid, SKMCH carry out anti-tobacco awareness drive

As part of its Corporate Social Responsibility (CSR) Programme, Warid Telecom has once again conducted a massive anti-tobacco awareness campaign in collaboration with Shaukat Khanum Memorial Cancer Hospital (SKMCH) in a bid to highlight the adverse effect
Published 22 May, 2014 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Wednesday (May 21, 2014).

Published 22 May, 2014 12:00am
98 alleged criminals held

98 alleged criminals held

City police on Wednesday claimed to have arrested around 98 alleged criminals in different targeted raids and encounters conducted at various parts of metropolis during last 24 hours. According to police, they have conducted some 96 targeted raids and six
Published 22 May, 2014 12:00am
The Weather

The Weather

The weather report on Wednesday (May 21, 2014) and the forecast for Thursday (May 22, 2014).

Published 22 May, 2014 12:00am
'Democracy, institutions strengthening in country'

'Democracy, institutions strengthening in country'

Member National Assembly, Hamza Shahbaz Sharif has said that democracy and democratic institutions are strengthening in the country. He said that the fruits of democracy should reach the masses for the promotion of democracy. He said that Pakistan has suf
Published 22 May, 2014 12:00am
Urs of Wasif Ali Wasif commences today

Urs of Wasif Ali Wasif commences today

The 22nd three-day Urs of renowned Sufi Saint and intellectual Hazrat Wasif Ali Wasif will commence from May 22 (today) which will continue for three days. According to the programme, floral wreath will be laid at the mazar of Hazrat Wasif Ali Wasif locat
Published 22 May, 2014 12:00am
FCCI hails Punjab Transparency and Right to Information Act

FCCI hails Punjab Transparency and Right to Information Act

Punjab Transparency and Right to Information Act, 2013 (RTI) is a positive step towards a transparent, efficient and publicly acceptable governance system in Punjab, said Engr. Suhail Bin Rashid, President Faisalabad Chamber of Commerce & Industry (FCC).
Published 22 May, 2014 12:00am
Phool Nagar rescue station inaugurated

Phool Nagar rescue station inaugurated

Punjab Acting Governor Rana Mohammad Iqbal inaugurated Phool Nagar Rescue Station on Wednesday. Speaking on the occasion, Rana Iqbal termed Rescue 1122 as public friendly service. He said that Rescue 1122 emergency services will be provided to all citizen
Published 22 May, 2014 12:00am
Punjab Assembly passes four bills

Punjab Assembly passes four bills

Punjab Assembly here on Wednesday passed four bills under the chair of acting speaker Sher Ali Gorchani. The bills passed were: 'The Punjab Public Private Partnership Bill 2014', 'Muhammad Nawaz Sharif University of Engineering and Technology Multan Bill
Published 22 May, 2014 12:00am
China to set up joint agriculture research centre at UAF

China to set up joint agriculture research centre at UAF

China Academy of Agricultural Sciences will set up joint agricultural research centre in Pakistan for strengthening the sector with new varieties, innovative approaches and to ensure food security in the region. This was discussed at a meeting held betwee
Published 22 May, 2014 12:00am
Zardari condoles death of Mohsin Qureshi

Zardari condoles death of Mohsin Qureshi

Former President Asif Ali Zardari has condoled the death of former member national assembly of Pakistan Peoples Party from Muzaffargarh district, Mohsin Qureshi, who passed away yesterday after prolonged illness. The former President also paid tributes to
Published 22 May, 2014 12:00am
Budget leak

Budget leak

As has become the norm, expenditure allocations and revenue targets for the forthcoming fiscal year have been leaked to the media a couple of weeks before the budget announcement in parliament. Unfortunately though it has rarely, if ever, caused panic buy
Published 22 May, 2014 12:00am
Government cannot remain aloof

Government cannot remain aloof

After days of street demonstrations and issuance of fatwas (religious edicts) by various religious leaders and provocative talk shows hosted by some sections of the media against a rival for airing highly objectionable content involving religious figures,
Published 22 May, 2014 12:00am
Sethi reinstated as PCB chairman by Supreme Court

Sethi reinstated as PCB chairman by Supreme Court

The Supreme Court Wednesday admitted the plea of Ministry of Inter-Provincial Co-ordination (IPC) and reinstated Najam Sethi as chairman Pakistan Cricket Board (PCB). A three-member bench of Justice Anwar Zaheer Jamali, Justice Ejaz Afzal and Justice Atha
Published 22 May, 2014 12:00am
Sethi reinstated as PCB chairman by Supreme Court

Sethi reinstated as PCB chairman by Supreme Court

The Supreme Court Wednesday admitted the plea of Ministry of Inter-Provincial Co-ordination (IPC) and reinstated Najam Sethi as chairman Pakistan Cricket Board (PCB). A three-member bench of Justice Anwar Zaheer Jamali, Justice Ejaz Afzal and Justice Atha
Published 22 May, 2014 12:00am
Former Business Recorder correspondent dies

Former Business Recorder correspondent dies

Mehmood Ahmed who worked as special correspondent for Business Recorder, died in Toronto, Canada, on Wednesday. He was 82. His funeral prayer will be offered in Toronto today (Thursday). He started his journalistic career from Pakistan Times and re
Published 22 May, 2014 12:00am
Gunmen kill schoolteacher, family members in Panjgur

Gunmen kill schoolteacher, family members in Panjgur

Gunmen Wednesday killed a teacher and five members of his family in Turbat, officials said, adding that rebels were believed responsible. The attack happened in the Panjgur, about 650 miles (1,000 kilometres) west of the provincial capital of Quetta. "Gun
Published 22 May, 2014 12:00am
Arms licence computerisation Sindh extends deadline

Arms licence computerisation Sindh extends deadline

Sindh Home Department on Thursday extended revalidation of manual arms licence for six months from 1st May, 2014 to 31st October, 2014. According to a notification issued by Home department, the initial extension for three month will be without any penalt
Published 22 May, 2014 12:00am
Gas pipeline blown up

Gas pipeline blown up

Unknown men blew up an 18-inch diameters gas pipeline in Sohbatpur area of the district on Wednesday. According to police, unidentified men had attached explosive devices with a gas pipeline supplying natural gas to Karachi which was blown up. The gas sup
Published 22 May, 2014 12:00am
UK-based firms to set up desalination & power plants: envoy

UK-based firms to set up desalination & power plants: envoy

British deputy High Commissioner, John Anthony Tucknott, has said that British companies are keen to come here and invest in different sectors, despite facing various challenges. Speaking at a meeting of Karachi Chamber of Commerce and Industry (KCCI), he
Published 22 May, 2014 12:00am
Power tariff slashed by Rs 1.48 per unit

Power tariff slashed by Rs 1.48 per unit

National Electric Power Regulatory Authority (Nepra) on Wednesday reduced power tariff of Distribution Companies (Discos) by Rs 1.48 per unit for April 2014 under the monthly fuel adjustment mechanism. The relief is being given to consumers because total
Published 22 May, 2014 12:00am
Misplaced bonds cancelled

Misplaced bonds cancelled

According to Central Directorate of National Savings approximately 20,000 prize bonds of Rs 1,500/ denomination have misplaced during transfer from State Bank of Pakistan, Lahore to State Bank of Pakistan Karachi and the same have been cancelled by the St
Published 22 May, 2014 12:00am
Three killed in Nawabshah road accident

Three killed in Nawabshah road accident

At least three people were killed in a road accident here on Wednesday. The accident took place when a bus and a car collided near Qazi Ahmed. Police said that the bus crashed into roadside hotel after colliding with the car, injuring two people. The dead
Published 22 May, 2014 12:00am
Disorderly parked trailers adding to port-area commuters' problems

Disorderly parked trailers adding to port-area commuters' problems

The M.A. Jinnah road, which links east wharf of Karachi seaport to rest of the city, is emerging as a death trap for the commuters due to illegal practice of parking trucks on both sides of the road. The disorderly parked trailers without following the ru
Published 22 May, 2014 12:00am
July-April current account balance registers $2.16 billion deficit

July-April current account balance registers $2.16 billion deficit

Following high imports and slow foreign inflows, the country's current account balance continued to deteriorate and posted a deficit of $2.162 billion during the first 10 months of current fiscal year (2013-14). Economists said the current account deficit
Published 22 May, 2014 12:00am
SBP outlines principles of risk management

SBP outlines principles of risk management

The State Bank has outlined principles for sound management of operational risk and minimum standards for operational risk/loss data collection. According to SBP circular issued here on Wednesday, implementation of Basel-II capital framework provides broa
Published 22 May, 2014 12:00am
Dr Imran hails Modarabas' compliance to Shariah standards

Dr Imran hails Modarabas' compliance to Shariah standards

Dr Imran Usmani, Shariah Advisor and Group Head of the Product Development & Shariah Compliance Department, Meezan Bank Limited lauded the efforts of the Modarabas for strict adherence to Shariah compliance standards. This was stated while addressing the
Published 22 May, 2014 12:00am
Dr Imran hails Modarabas' compliance to Shariah standards

Dr Imran hails Modarabas' compliance to Shariah standards

Dr Imran Usmani, Shariah Advisor and Group Head of the Product Development & Shariah Compliance Department, Meezan Bank Limited lauded the efforts of the Modarabas for strict adherence to Shariah compliance standards. This was stated while addressing the
Published 22 May, 2014 12:00am
Confusion reigns over country after polio guidelines

Confusion reigns over country after polio guidelines

Country has seen a rush on vaccines and angry scenes at hospitals after new World Health Organisation guidelines aimed at halting the crippling disease caused widespread confusion. The WHO declared a "public health emergency" at the start of May after new
Published 22 May, 2014 12:00am