The year has proved to be a problematic one for local cement manufacturers. In addition to the catastrophe brought by the floods, the government’s inability to focus on developmental activities due to…
Tassaduq Sohail was born in Jalandhar in 1930 and studied at London-based Central Saint Martins College of Art and Design. Sohail had been living in England for a number of years and…
KARACHI – Bank Alfalah Limited (BAFL) stock price in the last 15 sessions has witnessed growth of 14.8 percent outperforming the KSE-100 Index during the same period by 11.8 percent. State Bank of Pakistan (SBP) giving a relaxation against provisioning in value of investment in Warid expired on June 30, 2010 forcing it to realize a provisioning of Rs 1.705 billion diminution in investment in Warid.
Consequently, the bank in the fourth quarter of 2010 suffered a loss of Rs 0.39
ISLAMABAD – The Competition Commission of Pakistan (CCP), on Monday, issued a show-cause notice to Engro Vopak Terminal Limited (EVTL), for alleged imposition of unfair trading conditions.
A statement of CCP said that a formal complaint was lodged by Lotte Pakistan PPTA Limited (LP) against EVTL. In its complaint, LP alleged that EVTL was abusing its dominant position by charging an exorbitant price for its handling and storage facilities.
The CCP conducted a comprehensive
WASHINGTON – US national security officials say progress is being made to persuade Pakistan to free a CIA contractor held on murder charges but that Washington could take punitive diplomatic and financial action if the case is not resolved soon.
The officials said they believed private discussions between Islamabad and Washington have cooled anti-American rhetoric that erupted in Pakistan after the arrest of Raymond Davis, a former US Special Forces soldier employed by the CIA
KARACHI – Summit Bank Limited (formerly Arif Habib Bank Limited) has entered into an agreement with ABB Recreations Pvt Limited, owners and operators of The Royal Rodale Club, to offer its club membership to potential customers through a convenient and affordable financing plan.
A key feature of the financing plan is “zero percent mark-up” which will enable potential customers to get the club membership through staggered membership fee payment without any additional cost. Summit
ADDIS ABABA – A high-level panel named by the African Union faces an uphill battle in agreeing a unified stand on Ivory Coast’s political crisis and has limited new options to offer the country’s two rival leaders.
Divisions were laid bare at the two-day AU summit that ended Monday, with the leaders agreeing to set up a panel made up of the presidents of Burkina Faso, Chad, South Africa, Mauritania and Tanzania to work out an exit strategy. AU commission chief Jean Ping said last
CAIRO – Egypt has substantial reserves to avoid an external payments crisis but these could be seriously depleted within weeks if political protests continue, while its banks may struggle to cope with a rush of withdrawals. In the two working days after the protests erupted on Tuesday, which was a bank holiday, Egyptians and foreign investors transferred hundreds of millions of dollars out of Egypt, currency traders estimated.
The government had $36 billion in foreign reserves at
LAHORE: Pakistan selectors were Monday forced to add opener Shahzaib Hasan and paceman Wahab Riaz to their limited over squad for the series against South Africa.
Hasan, 20, was declared as the best batsman in the National Twenty20 tournament, which concluded in Lahore on Saturday, while Riaz, 25, was named the best bowler at the same event. But neither had been included in the limited over squad when it was announced beforehand.
Pakistan play two Twenty20, five one-day and