Tag: High

ISLAMABAD - Expressing dismay over the Sindh High Court's decision to grant protective bail to Ali Riaz, son of Bahria Town's chief executive Malik Riaz, in the fatal drag car race case, the Supreme Court on Monday reversed the ruling by canceling the bail. The illegal race had ended with loss of five lives after an accident on December 5, 2010.
A three-member bench comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday was

ISLAMABAD - The Supreme Court will today (Monday) resume hearing on various high-profile cases, including the Reko Diq case, writing of loans of Rs54 billion, missing persons, PCO judges and the ECL law.
A three-member bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday will take up the cases, which also include death of several bystanders in an illegal car race in Rawalpindi on December 5.
A two-member bench of

ISLAMABAD - Pakistan's exports exhibited a massive 35 percent increase and exceeded $2.12 billion in December last year. This figure, a record achievement in the 63 years history of Pakistan, was disclosed by the Ministry of Commerce here on Thursday.
A similar unprecedented growth of 20 percent in exports had been achieved from July to December 2010. Federal Minister for Commerce Makhdoom Amin Fahim congratulated exporters and the chambers on this landmark achievement. The

LAHORE - The Pakistan Muslim League-Quaid (PML-Q), the main opposition party in the Punjab Assembly (PA), criticised the Punjab government for increasing inflation in the province saying that it has become a fashion to blame former regimes for justifying poor governance and mismanagement. Opposition members of the provincial assembly (MPA) asked the treasury benches what they had done for the masses since the last years except for blaming the previous government for all "ills" adding

LAHORE - The Lahore Stock Exchange (LSE) remained bearish with high volumes traded. The LSE index lost 17.41 points to close at 3,766.54 against its opening at 3,783.95 levels. Out of 125 active scrips, 29 went up, 36 went down and 60 closed without any change in their opening values. The volume of the market remained 13.09 million shares, which was 4.59 million shares more than Friday's turnover of 8.49 million shares.
Silk Bank remained the volume leader with 7.05 million

ISLAMABAD - The Supreme Court will resume hearing today (Monday) on various high profile constitutional cases including privatization of Habib Bank, missing persons, contempt proceedings against PCO judges and NAB Amendment Ordinance.
A three-member bench comprising Justice Javed Iqbal, Justice Tassaduq Hussain Jillani and Justice Raja Fayyaz Ahmed will hear the petitions against privatization of Habib Bank, NAB Amendment Ordinance and missing persons. Another three-member bench

KARACHI - Friday saw the Karachi Stocks Exchange (KSE) hitting the 30-month high of 12,389.04 points due to what analysts believe an ease in political uncertainty after the incumbent government responded positively to the popular demand for withdrawing the recent oil price hike.
On the last day of the week, the KSE-100 benchmark witnessed an upsurge of 72.95 points or 0.61 percent as compared to Thursdays' 12,323.47 points with the intra-day high and low standing, respectively at

STAFF REPORT - The Lahore Stock Exchange remained jittery, but managed to push up the LSE-25 index by 19.96 points, which closed at 3,783.95 on Friday. An increase of 1.8 million shares was witnessed in market volume as it closed at 8.4 million shares compared to 6.6 million on Thursday.
Most activity was observed in banking, cement, chemical and oil & gas sectors. A total of 129 companies participated in the business of which 44 gained, 21 were declined while share value of

SYDNEY - A dominant Alastair Cook scored 189 and Ian Bell his first century against Australia as England took a commanding first innings lead of 208 at the close of play on the third day of the fifth Ashes test on Wednesday. England, who just need to draw the match to secure a first series win in Australia for 24 years having already retained the Ashes, were on 488-7 with Matt Prior (54) and Tim Bresnan (0) at the crease when bad light stopped play. Cook put on another dazzling

KARACHI - Government budgetary borrowings from the banking system have continued to balloon as it has touched 104.2 percent during first half of the current fiscal year despite analysts' fears that the country is inching towards an unprecedented hyperinflation. The funds-starved governments, both federal and provincial, borrowed Rs 439.259 billion from the central and other scheduled banks during July-Dec 2010-11 against Rs 215.053 billion in the last corresponding period.
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LAHORE - The Pakistan Medical Association (PMA) office-bearers including Dr Sarwar Chaudhry, Dr Yasmin Rashid, Dr Tanveer Anwar, Dr Shahid Malik, Dr Ashraf Nizami, Dr Izhar Chaudhry, Dr Kamran Saeed, Dr Akhtar Rashid and Dr Salman Kazmi on Sunday condemned the Government Sheikh Zayed Medical College, Lahore's administration for charging Rs 0.5 million annual fees from its students and termed it a "great injustice".
They urged Prime Minister Syed Yousaf Raza Gilani to decrease the

ISLAMABAD - The Supreme Court will today (Monday) resume hearing of various high-profile cases, including those regarding the purchase of assets of the British Petroleum on exorbitant prices, privatisation of Habib Bank, unauthorised diversion of floodwater by the influential, contempt of court against superior court judges who took oath under the Provisional Constitutional Order (PCO) in defiance of a SC restrain order of November 3, 2007.
A three-member Supreme Court bench of

LONDON - Commodity markets were set to end 2010 with a second year of gains, with copper powering to record highs and oil heading for its eighth rise in nine years, while investors prepared for the rally to continue into 2011. The precious metals complex has had a stellar run this year, led by palladium's 94 percent rise, in a broad commodities rally that pushed the 19-commodity CRB index up 15 percent in a second consecutive year of gains. The uncertainty over the US economy this

KARACHI - The Sindh High Court (SHC) on Tuesday directed the provincial government to dismiss Kambar Shahdadkot District Coordination Officer (DCO) Ghulam Qadir along with all the DCOs in the province without the required qualification.
District Management Group Officer Gul Hassan Channa had filed a constitutional petition under Article No 199 of the Constitution through his counsel, Advocate Abrar Hassan, challenging the direction of the Sindh government on the appointment of

QUETTA - Jamhoori Watan Party's Nawabzada Talal Akbar Bugti on Monday strongly criticised former president Pervez Musharraf's polices for 'abrogating' constitution and starting military operations in Balochistan and Khyber Pakhtunkhwa provinces.
Speaking at a news conference here, Talal blasted Musharraf for his recent interview with a private TV channel and it dubbed it as 'a pack of lies'. JWP leader said that Musharraf 'deserved' capital punishment for 'heinous crimes'

LAHORE: Hearing of a petition challenging the pardon granted by President Asif Ali Zardari to Interior Minister Rehman Malik was adjourned to December 24 by a full bench of Lahore High Court (LHC) on Monday. Earlier, Deputy Attorney General Naveed Inayat Malik had requested adjournment on behalf of the federation, citing Rehman's pending adjudication in Supreme Court as an excuse.
Barrister Farooq Hassan, representing the petitioner, opposed the request saying the government was

LAHORE: Arrangements for providing immediate first-aid facilities for the mourning possessions of Muharram were reviewed by Director General Punjab Emergency Service (Rescue 1122) Rizwan Naseer. Rescue 1122 workers are expected to remain on high alert. Twenty four fully equipped ambulances, 16 fire vehicles, 2 rescue vehicles, 46 mobile posts, doctors and medical officers to accompany the possessions all over the city. Rescue posts will be established at Imam Bargah Bhakewal More,