Business Recorder articles from February 2011, page 41

Business Recorder archives from February 2011

Currency notes: exchange rates.
February 3, 2011... Byline: RECORDER REPORT ============================================= AUTHORISED DEALERS' RATES FOR CURRENCY NOTES ============================================= COUNTRY SELLING BUYING ============================================= USA...

Exchange rates: buying and selling.
February 3, 2011... Byline: RECORDER REPORT ========================================= Countries Selling Buying Buying TT&OD TT Clean OD/T.CHQ ========================================= USA 85.70 85.50 85.32 UK 138.56 138.24 137.92 EURO 118.74 118.46...

Barclays bid rates and maximum rates for payment of interest.
February 3, 2011... Byline: RECORDER REPORT ======================================================== INTEREST PAYABLE ON FE DEPOSITS ======================================================== BBA BID MAXIMUM RATES RATES FOR PAYMENT OF INTEREST...

State Bank of Pakistan conversion rates.
February 3, 2011... Byline: RECORDER REPORT ========================== US Dollar 85.5916 Pound Sterling 137.8282 Euro 117.6200 Japanese Yen 1.0485 ========================== Rates applicable for conversion into rupees of Foreign Currency Deposits,...

Aaj TV - Thursday's schedule.
February 3, 2011... Byline: RECORDER REPORT 06:00 News Bulletin 06:25 Headline News 06:30 Benaqaab 06:55 Headline News 07:00 Islamabad Tonight 07:25 Headline News 07:30 Islamabad Tonight 07:55 News Bulletin 08:25 Headline News 08:30 Aaj Market Morning (Live)...

Activity at Karachi and Qasim ports.
February 3, 2011... Byline: RECORDER REPORT The Karachi Port handled 87,276 tonnes of cargo including 46,751 tonnes of import cargo, 40,525 tonnes of export cargo, 5,318 loaded and empty containers during last 24 hours endeed at 0700 hours on Wednesday. The...

Oil cake market rates.
February 3, 2011... Byline: RECORDER REPORT Contracts were higher on the forward cottonseed oilcake market on Wednesday in process of trading, dealers said. The March vaida that had closed at Rs 1237.10 opened with 50 paisa gain at Rs 1237.60. The May contract...

Balanced demand, supply cause small trading on grain market.
February 3, 2011... Byline: RECORDER REPORT Low business volume was witnessed on the wholesales grain and seed market on Wednesday due to balanced demand supply factor, dealers said. On the cereal side wheat old was quoted at Rs 2640-2645 and new type was at Rs...

MTFA approves 28 players for U-13 Festival of Football.
February 3, 2011... Byline: RECORDER REPORT Model Town Football Academy (MTFA) President Mian Rizwan Ali has approved 28 players in the training camp for taking part in Academies Phase of 13th National U-13 Festival of Football. The Camp will be organised from...

Students' Week 2010-11: CIBES holds Sports Gala opening ceremony.
February 3, 2011... Commecs Institute of Business and Emerging Sciences (CIBES) organised the opening ceremony of Sports Gala on January 27, 2011 during the Students' Week. The legendary Hockey Olympian, Iftikhar Syed, graced the occasion as the Chief Guest. Umer...

Palestine football coach announces team for Pakistan tour.
February 3, 2011... Byline: RECORDER REPORT Palestine football team coach Moussa Bezaz announced 30-player squad for bilateral series between Pakistan and Palestine. Palestinian booters will arrive on 27th February and will be lined up for the first match at...

Royal Palm Floodlit Cricket starts; 4 teams eliminated.
February 3, 2011... Byline: RECORDER REPORT The four-day Annual Royal Palm Floodlit Cricket Tournament took off at the superbly lit cricket arena of Royal Palm here on Wednesday. At the end of first day, four out of the sixteen teams, namely, Warriors, Lahore...

Nepal series: PCB names 20 female players for camp.
February 3, 2011... Pakistan Cricket Board on Wednesday named 20 female players to attend a training camp from February 6 at Lahore country club Muridke to prepare for home series against visiting Nepal women team. The players were named by selection committee...

Soft-term financing: insurance companies to sign MoU with investors.
February 3, 2011... Banks and insurance companies will sign memorandum of understanding (MoU) with prospective investors for providing soft-term financing to their projects in livestock, dairy, fisheries and poultry sectors. This was stated by Secretary Investment...

Police official, cops shot dead in Bolan.
February 3, 2011... Unidentified gunmen shot dead a police official and cops in Aab-e-Gum area of Kachi Bolan district between Tuesday and Wednesday night. According to police, SHO PS Dera Allahyar Haji Ali Nawaz Khoso along with Head Constable Fakhruddin,...

TSML, STX Corporation to collaborate in HBI production.
February 3, 2011... Tuwairqi Steel Mills Limited (TSML), a subsidiary of Al Tuwairqi Holding of the Kingdom of Saudi Arabia, and STX Corporation of South Korea have agreed to collaborate, in a bid to advance TSML's DRI Plant by producing HBI as well. The two...

Non-payment of salaries, overtime: CDGK fire department workers stage demonstration.
February 3, 2011... Byline: RECORDER REPORT Employees of Fire Department of the City District Government Karachi (CDGK) on Wednesday staged a protest at the head office to press their demand for resolving the issues of their salaries and overtime allowance. The...

Three-day training workshop on democracy begins.
February 3, 2011... A three-day training workshop on democracy and good governance commenced here under the auspices of Strengthening Participatory Organisation for the partner organisations of four Frontier Regions of Fata namely FR Peshawar, FR Kohat, FR Lakki...

Improper planning of PIAC management causes Rs 23.8 million loss: PAC body informed.
February 3, 2011... Byline: WASIM IQBAL Pakistan International Airlines Corporation (PIAC) had entered an agreement in 1984 with M/s Carl Zeiss of West Germany to buy Planetarium equipment. The idea was to set up Planetarium for public education at Karachi,...

PC clarification.
February 3, 2011... Referring to a news report appeared in daily, Business Recorder on February 1, 2011 titled, "Dispute with Etisalat-Cabinet Directs Immediate Steps for Resolution". A spokesman of the Privatisation Commission Tahir Parwaz while clarifying the...

Cylinder blast hurts seven in Chitral.
February 3, 2011... Seven persons were injured when a cylinder of liquified petroleum gas exploded at Khurkushandeh village in the suburbs of Chitral city on Wednesday. According to Chitral police, gas cylinder exploded in the house of Hayatur Rehman as a result he...

SECP holds seminar on corporatization, e-Services.
February 3, 2011... The Securities and Exchange Commission of Pakistan (SECP) held a seminar on corporatization and e-Services project of the SECP in Karachi in collaboration with Management Association of Pakistan (MAP). According to a press release issued here on...

APTMA delegation visits KSE.
February 3, 2011... A delegation of All Pakistan Textile Mills Association (APTMA) on Wednesday visited Karachi Stock Exchange (KSE). The delegation headed by Yasin Siddik along with Anwar Ahmed Tata and other members of the APTMA had a meeting with Acting Managing...

Young man's slaughtered body found in a box.
February 3, 2011... Byline: RECORDER REPORT A slaughtered body was found in a box at Mawach Goth in the remits of Maripur police station. According to police, the victim, who was later identified Ghulam Hussain 26 son of Ibrahim alias Babu, was the resident of...

Government urged to protect medical institutes in Lyari.
February 3, 2011... Byline: RECORDER REPORT All Sindh Peoples Para Medical Staff Welfare Association on Wednesday appealed to the government to protect medical institutes in Lyari from destruction. A large number of people and members of the association's Lyari...

Thar coal: trade bodies' help sought to attract investment.
February 3, 2011... Byline: RECORDER REPORT Managing Director, Thar Coal and Energy Board, Ajaz Ali Khan has sought the help of trade bodies to highlight Thar coal in their meetings with foreign delegations in order to attract them to invest in Thar coal sector....

CIMA Global Business Challenge competition begins.
February 3, 2011... Chartered Institute of Management Accountants (CIMA) Global Business Challenge competition is open to full time undergraduates of public and private colleges and universities ideally, from a business or finance background, which would be lasted...

Sindh University BEd exams results.
February 3, 2011... Byline: RECORDER REPORT The Controller of Examinations University of Sindh has announced the result of BEd off Campus of annual examination 2008 here on Wednesday. Total 1904 candidates submitted their examination forms while 1900 candidates...

Crime and punishment.
February 3, 2011... Byline: SYED HASAN (VIA E-MAIL) The Raymond Davis case continues to dominate headlines and news discussions. What began as a terrible tragedy has turned into a ball of confusion thanks to a media that values headlines more than justice. But...

Partly Facetious: There's no such thing as a moral foreign policy.
February 3, 2011... Byline: ANJUM IBRAHIM "Mubarak says he won't stand for re-election but would remain in power till elections scheduled for September." "After thirty-two years?" "The point is the end is in sight for the Egyptian people." "Right, but...

Executive Summary: SBP's first quarterly report.
February 3, 2011... The following is the full text of Executive Summary of State Bank of Pakistan's First Quarterly Report: REAL SECTOR Economic recovery suffered a setback in early FY11 as floods damaged about one-fourth of the country's agriculture heartland....

The art of leadership.
February 3, 2011... Byline: ZAFAR AZEEM From literary works, it has been learnt that the hardest test for leaders is to challenge their character as much as their skills. Leaders are tested, again and again, throughout their careers, and the self-knowledge...

VIEWPOINT: US' democracy charade.
February 3, 2011... Byline: SAIDA FAZAL The uprising in Egypt has punctured a huge hole in America's pro-democracy pretence. In his famous speech to the Muslim world that he delivered in Cairo, President Barrack Obama had spent considerable time extolling the...

Mubarak's last hurrah.
February 3, 2011... Egypt's President Hosni Mubarak has announced that he would step down later this year at the end of his fifth term. In a national broadcast late Tuesday night - having seen his fate being sealed by the million-man rally at the Tehrir Square in...

The IMF comes to town.
February 3, 2011... The International Monetary Fund (IMF) team is currently in Pakistan. In what is clearly not the norm the Fund staff has met with two members of the second largest party in parliament, the PML(N), namely Chief Minister Punjab Shahbaz Sharif as...

'Save a Life Every Month': SKMCH&RC launching nationwide campaign.
February 3, 2011... Byline: RECORDER REPORT Shaukat Khanum Memorial Cancer Hospital and Research Centre (SKMCH&RC) is launching a nationwide campaign "Save a Life Every Month" from the month of February. According to the hospital's spokesman, the idea is to...

UVAS striving to achieve new heights in quality education: vice chancellor.
February 3, 2011... Byline: RECORDER REPORT University of Veterinary and Animal Sciences (UVAS) will continue striving hard to achieve new heights of quality education and working motto "sky is the limit, our best has yet come we work to achieve best". This...

'Wapda missed opportunity to fill Mangla Dam during flood season'.
February 3, 2011... Byline: RECORDER REPORT Azad Jammu and Kashmir (AJK) Minister for Information, Environment and Overseas Kashmiris, Mahmood Riaz said that Wapda missed an opportunity to fill the Mangla Dam during the last flood season and it also failed to...

'UK working hard to promote investment climate in Pakistan'.(Conference notes)
February 3, 2011... Byline: RECORDER REPORT The British Government is working hard to promote the investment climate of Pakistan, and the British High Commission in Pakistan may soon organise an investment conference in United Kingdom to highlight the economic...

SCCI expresses gratitude to President.
February 3, 2011... Byline: RECORDER REPORT President Sialkot Chamber of Commerce and Industry (SCCI) Ghulam Mustafa Chaudhry in a press statement has expressed his gratitude to the President Asif Ali Zardari for issuing directive to the concerned authorities at...

Honour killing incident: HRCP for transparent investigation.
February 3, 2011... The Human Rights Commission of Pakistan (HRCP) has called upon the Punjab government to ensure an early and transparent investigation of an alleged incident of honour killing of a young woman in a village of Bahawalpur district. The young woman,...

Improvement in hydel generation.
February 3, 2011... Byline: RECORDER REPORT A considerable improvement in hydel generation with the end of canal desilting has reversed the gap between demand and supply of electricity back to 1500MW from 2000MW last week. The hydel generation improved to 3600MW...

World Cancer Day on February 4.
February 3, 2011... Byline: MUHAMMAD SALEEM In order to create awareness about cancer for its early detection World Cancer Day is being observed in Pakistan like many other parts of the world with a resolve to continue efforts for achieving the goal of healthy...

Medicines worth Rs 360 million provided to patients free of cost.
February 3, 2011... Byline: RECORDER REPORT The administration of Mayo Hospital is providing medical facilities to the patients free of cost and during the year 2010, medicines worth Rs 360 million were provided to more than 1.436 million patients in line with...

Police has earned high respect: LCCI.
February 3, 2011... Byline: RECORDER REPORT The police has gained high respect in the eyes of the public due to the great sacrifices they have made in tackling the acts of terrorism while presently the police is now acting as a dedicated force that would go a...

Gas, power supply to Punjab: FPCCI condemns 'discrimination'.
February 3, 2011... Byline: RECORDER REPORT The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Regional Chairman Mian Muhammad Tariq Shafi has condemned discrimination in gas and electricity supply to Punjab and said Punjab has never ever...

Youth shot dead at Machhar Colony.
February 3, 2011... Byline: RECORDER REPORT A youth was shot dead on late Tuesday at Machhar Colony in the limits of Sohrab Goth police station. According to police, some two unidentified armed riders opened indiscriminate fire on the victim when he was standing...

Contempt of court notices to PCO-judges: SCBA President expresses displeasure.
February 3, 2011... Byline: RECORDER REPORT President Supreme Court Bar Association Asma Jahangir said Supreme Court would itself weaken the judiciary by deciding to frame charges against PCO-judges. Addressing a press conference here on Wednesday, she was of...

200 cattle bound for Afghanistan seized.
February 3, 2011... Byline: RECORDER REPORT District Administration, Peshawar on Wednesday seized 200 illegally Afghanistan bound cattle in a raid in Hayatabad Principal Chowk. The raid was conducted on the complaints of general public and reports in print and...

NCEL growth further picks up momentum.
February 3, 2011... NCEL's remarkable year on year growth in 2010 has further picked up speed in the new Year. After the previous monthly milestone, reached in November 2010, of more than 100,000 contracts traded at the exchange, NCEL has very rapidly achieved the...

Indian HC ensures swift issuance of business visas.
February 3, 2011... Sharat Sabharwal, Indian High Commissioner in Pakistan has ensured swift issuance of business visas, in a meeting held with Chairman and Members of Pakistan Chemicals & Dyes Merchants Association (PCDMA). Sharat Sabharwal, Indian High...

Mirza inaugurates complaint centre to deal with extortionists.
February 3, 2011... Byline: RECORDER REPORT Sindh Home Minister, Dr Zulfiqar Mirza has said the Sindh government has formed a special unit to take action against extortionists. He was speaking at inaugural ceremony of Witness Protection Programme about the...

Khawar appointed Member IR.
February 3, 2011... Byline: RECORDER REPORT The government has appointed Khawar Khurshid Butt, BS-21 officer of Inland Revenue Service, as Member Inland Revenue (IR), Federal Board of Revenue with immediate effect. In this connection, the Federal Board of...

Performance of USCP reviewed.
February 3, 2011... A zonal manager conference and an executive board meeting was held here at USC Head Office presided over by Managing Director of USC Arif Khan. The meeting took an overview of six months performance of Utility Stores Corporation of Pakistan,...

Competition Act 2010: 'business firms not prevented from gaining a large market share'.
February 3, 2011... Chairperson, Competition Commission of Pakistan (CCP), Rahat Kaunain Hassain has said that the Competition Act 2010 does not prevent business firms from having or gaining a large market share for their products or services. This was stated by...

PPP core committee reposes confidence in its leadership.
February 3, 2011... The meeting of the PPP core committee was held Wednesday at the Aiwan-e-sadr to discuss current political situation, economic challenges being faced by the country along with steps to overcome them as well as relation with the coalition...

'Strong sense of responsibility basic element of effective policing'.
February 3, 2011... Byline: RECORDER REPORT Islamabad Police would make every possible effort for strengthening its corps down to the level of constable, said Inspector General of Police (IGP) Islamabad Wajid Ali Durrani here on Wednesday. It is imperative to...

'Computerisation of arms licences to help control its movement'.
February 3, 2011... Byline: ISHFAQULLAH SHAWL Federal Minister for Interior Rehman Malik has said that the computerisation of arms licences would not only help in keeping a check on arms movement, but will also help in eradicating terrorism. Government is taking...

DGI&I busts cheaters' gang involved in issuance of fake/flying invoices.
February 3, 2011... Directorate General Intelligence & Investigation of the Federal Board of Revenue (FBR) has busted a gang of cheaters involved in issuance of fake/flying invoices in the name of bogus companies. A press release issued on Wednesday said the...

'Sarajevo Business Forum 2011': 'industrialists invited to attend International Investment Conference'.(Conference news)
February 3, 2011... Byline: RECORDER REPORT Pakistani industrialists and businessmen should attend the 2nd International Investment Conference 'Sarajevo Business Forum 2011' to be held from April 6 in Sarajevo to explore investment opportunities, said Arman...

Illegal occupation of public parks: Supreme Court gives one-month to CDGK for recovering.
February 3, 2011... Byline: RECORDER REPORT The Supreme Court (SC) on Wednesday gave one-month time to Karachi city government for recovering public parks, illegally occupied by the land mafia while the petitioner was also asked to help the authority in this...

Trade Policy measures: MoC seeks changes in arms import permission.
February 3, 2011... Byline: MUSHTAQ GHUMMAN The Ministry of Commerce (MoC) has also recommended changes in permission for import of arms and ammunition. According to the ministry, presently import of arms and ammunition of non-prohibited bore is allowed on the...

Step to reduce LPG price: 'Saudi Aramco Contract Price upper cap be removed'.
February 3, 2011... Byline: RECORDER REPORT Secretary, Petroleum Ministry, Imtiaz Qazi, said on Wednesday that price upper cap of Saudi Aramco Contract Price (CP) for LPG should be removed to encourage import, leading to availability of product that would result...

President CAI invites Pakistani cotton importers.
February 3, 2011... President, Cotton Association of India (CAI) Dherin Seth has suggested Pakistani cotton importers to visit India on urgent basis to meet Indian exporters for amicably settling the issue of cotton purchase. According to an announcement here on...

Pakistan achieves sugarcane production target.
February 3, 2011... Byline: ABDUL RASHEED AZAD & ASMA RAZAQ Pakistan has successfully achieved sugarcane production target as 55 million tonnes of sugarcane production has been recorded across the country, officials at Ministry of Food and Agriculture...

Legal fraternity capable to bring changes in society: CJ.
February 3, 2011... Byline: RECORDER REPORT Chief Justice Iftikhar Muhammad Chaudhry on Wednesday said that legal fraternity has the capability to bring changes in society as it proved itself during the lawyers' movement for restoration of judiciary. He stated...

Power shutdown notice.
February 3, 2011... According to Iesco Spokesman, due to electricity maintenance/development work the Power supply of the areas fall under the following feeders would remain suspended, as under: On Thursday (February 3) morning 9 am to 1 pm, Karor Feeder, Pehont,...

Revamping of Sales Tax Act 1990: policymakers took no action on proposals.
February 3, 2011... Byline: RECORDER REPORT A revised sales tax law was prepared in 2009 by the Federal Board of Revenue (FBR), but the policymakers have taken no action on proposals to revamp Sales Tax Act 1990 and introduced the concept of reformed general...

Exhibition.
February 3, 2011... On the eve of Kashmir Day, a photographic exhibition on peace will start on Thursday (today) at Alhamra Art Gallery. The purpose of the exhibition is to highlight the voice of Kashmirs and to salute them. The exhibition organised by Unified...

Committee report recommends: PSM top management must be replaced.
February 3, 2011... Byline: RECORDER REPORT The Senate Standing Committee on Industries and Production has recommended that the entire top management of the Pakistan Steel Mills (PSM) must immediately be replaced by experienced professionals or be privatised in...

Davis put on ECL, Malik tells Senate.
February 3, 2011... Byline: ALI HUSSAIN Interior Minister Rehman Malik on Wednesday said that the name of Raymond Davis, an American official accused of double murder, has been put on the Exit Control List (ECL) on the directives of the Lahore High Court (LHC)....

Raymond Davis case: decision of court to be followed, Prime Minister tells National Assembly.
February 3, 2011... Byline: QAMAR UZ ZAMAN Prime Minister Syed Yousuf Raza Gilani categorically informed the National Assembly on Wednesday that his government will follow the decision of the court in the matter of Raymond Davis, US national charged with killing...

Railways works out emergency plan.
February 3, 2011... Pakistan Railway has worked out an emergency plan whereby operation of 10 specified trains may be stopped in case of any emergency like floods, fuel problem, non-availability of locomotive or coaches. This plan has been chalked out to ensure...

No cover for parental treatment: National Assembly criticises trimming of medical allowance.
February 3, 2011... Byline: RECORDER REPORT The National Assembly on Wednesday echoed with voices against trimming of parliamentarians' medical allowance with no cover for parental treatment, amid demands of ending the discrimination. Kashmala Tariq of PML-Q...

Construction of new Gwadar Airport: Centre releases Rs 90 million to CAA, Senate told.
February 3, 2011... Byline: RECORDER REPORT The federal government has released Rs 90 million to Civil Aviation Authority (CAA) for the construction of new Gwadar International Airport under public sector development programme (PSDP). In a written reply to the...

Sugar crisis: ministry asked for fixation of support price.
February 3, 2011... Byline: RECORDER REPORT The Senate Standing Committee on Industries and Production has recommended that the Ministry should arrange the fixation of support price of sugarcane realistically and involve the provinces to monitor the difference...

Government has no intention to amend blasphemy law: Gilani.
February 3, 2011... Byline: NAVEED BUTT Prime Minister Syed Yousuf Raza Gilani Wednesday categorically stated that the government has no intention to amend the blasphemy law and both the treasury and opposition are on the same page as far as the issue is...

Ikhtiar Baig meets Dhiren Sheth.
February 3, 2011... Dr Mirza Ikhtiar Baig, Advisor to Prime Minister on Textiles accompanied by Vice Chairman Aptma Yasin Siddiq, met President of Cotton Association of India, Dhiren Sheth in Karachi and discussed the issue of non delivery of the Indian cotton...

Appointment of NAB chairman: government submits summary to Supreme Court.
February 3, 2011... Byline: RECORDER REPORT The government Wednesday submitted original record of prime minister's summary regarding appointment of Chairman National Accountability Bureau (NAB) Syed Deedar Hussain Shah, to the Supreme Court. A four-member bench...

PML-Q dissidents seek separate identity in Punjab Assembly.
February 3, 2011... Byline: HAMID WALEED The PML-Q dissidents in the Punjab Assembly has finally sought separate identity after proving its majority in the Punjab assembly against its parent party. Unification block, a group of 47 dissidents of the PML-Q, moved...

'Illegal things happen when assemblies are non-functional'.
February 3, 2011... Byline: RECORDER REPORT The Supreme Court on Wednesday observed that all illegal things happen when assemblies did not have the power to avert any wrongdoing which causes loss of billions to the exchequer, marring the economic growth. A...

Gas pipeline blown up in Sohbatpur.
February 3, 2011... Unidentified armed men blew up natural gas supply pipeline of Sui Southern Gas Company (SSGC) in Sohbatpur area between Tuesday and Wednesday night. According to police sources, unknown men attached an explosive material with the natural gas...

Three killed in separate mishaps.
February 3, 2011... Byline: RECORDER REPORT At least three persons were killed in separate mishaps at different parts of metropolis on Wednesday. A father of three kids on Wednesday committed suicide in his house at North Karachi in the jurisdiction of Sir Syed...

Refund claims: blank certificates of NTN make room for misuse.
February 3, 2011... Byline: RECORDER REPORT The availability of blank certificates of National Tax Numbers (NTNs) in the Regional Tax Offices (RTOs) may provide a unique opportunity to the unscrupulous elements to submit fraudulent refund claims on fake...