Karachi

The administrator City District Government Karachi (CDGK), Fazlur Rehman in the wake of the expected rains in the city has issued dir

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ISLAMABAD: Director General of Inter Services Intelligence (ISI) Lt. General Ahmed Shuja Pasha called on Prime Minister Syed Yusuf Raza Gilani here at Prime Minister Secretariat here on Wednesday.

They discussed overall security situation in the country, according to a statement issued here at Prime Minister House.

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DURBAN: Having beaten World Cup favorites Brazil in the quarter-finals, Netherlands coach Bert van Marwijk has warned his players not to take the less

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BEIJING: China?s Three Gorges Corporation (TGC) has expressed agreement to make 10 billion dollar investment in energy sector in Pakistan.

Talking to media after holding meeting with President Asif Ali Zardari here, the chairman TGC Mr. Koing Jang said that a dam with capacity to generate 7000-megawatt electricity in Bonji place of Gilgit-Baltistan while another dam with capacity to generate 1200-megawatt electricity will be built in Gohala place.

Earlier, the President of a local bank also held meeting with President Zardai.

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KARACHI: The weather in Karachi turned pleasant on receiving intermittent downpours in various areas of the metropolis while traffic jams and power outages were reported in many parts of the city as rain water caused a number of feeders to trip, Geo News reported Wednesday.

Maximum rain, 43 mm, was recorded at Sharea Faisal.

Governor Sindh Dr. Ishrat-ul-Eban Khan directed the concerned authorities to take necessary steps in the wake of monsoon rains.

Rains started this afternoon, totally disrupting the traffic system while many part of the city suffered power outages as, according to KESC spokesman, rain water caused 30 feeders to trip. Train service was also affected as heavy rains lashed the city.

According to Met Department?s chief meteorologist Muhammed Riaz, the eastern parts of the city including Clifton, Tariq Road, Nazimabad, Saddar, Gadap Town and Orangi Town began to receive showers.

According to Met Department, the recent rain spell will continue intermittently during the next 24 hours.

Meantime, power supply in Hub and Hyderabad was suspended. The streams on the RCD Road in Hub started overflowing. The low-lying areas and rain rivers were inundated with downpours couple with gale-force winds in Hub and its suburbs, posing great problems to the local residents.

Besides, Hyderabad also received from light to heavy rains, which caused the power supply cut-off. The sweltering weather got more intense with no winds after light rains.

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Pakistan News

Karachi

Judicial Magistrate (East) Zabiha Khattak on Monday absolved the former husband of Dr Aafia Siddiqui, who is detained in the US, of the

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ERASMIA: Germany coach Joachim Loew said on Monday that World Cup semifinal opponents Spain will be a tougher proposition for his young team than both

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KARACHI: After a consecutive bearish spell, the equities at Karachi Stock Exchange (KSE) surged by over 2 percent to close just below 9,800 here Wednesday on rumours of return of “Badla” financing (margin financing) in the market.

The benchmark KSE 100-Index bolstered by 2.24 percent or 214.49 points to close the day at 9,789.69, KSE 30-Index jumped by 2.52 percent or 237.41 points to end at 9,652.51 and KSE All Share Index ballooned by 2.15 percent or 144.50 points to finish at 6, 864.33.

Bulls were there right from the start as after the opening bells, the main index started its roller-coaster ride and kept on surging all day long. Analysts said that there were rumours in the market that the KSE authorities have decided to re-introduce the margin financing in the market, which caught the investors” interest big time and they took positions in an oversold market. Towards the final couple of hours, the key index managed to hit the 9,800 levels after a span of 45 days as the last time it traded above the psychological barrier was on May 24, 2010 when it eventually ended below the 9,800 level. The market achieved its intraday high of 9,800.39 before closing just 11 points lower.

According to dealers Wednesday started with a flurry of positive trade as news or rumours of margin financing system’’s re- introduction buoyed investors.

Hopes regarding a fruitful meeting between the KSE authorities and the government officials, due on Friday, also came to support bulls as the key index remained in the green zone all day long.

Investors showed keen interest in trading activities on the rumours of return of the badla financing system at the KSE which was quite evident with the market volumes improving for the second straight day to 50.551 million shares from 29.778 million shares, thus showing an increase by 20.773 million shares.

Lotte Pakistan PTA Limited was the top volume gainer of the day with trading of 5.978 million shares, followed by Jahangir Siddiqui Company Limited, TRG Pakistan Limited, Amtex Limited, and Azgard Nine Limited with turnovers of 3.998 million, 3.198 million, 3.155 million, and 1.798 million shares respectively.

In the broader market, a total of 378 scrips traded hands during the day where gainers outclassed losers with a ratio of 264 to 99 while prices of 15 other stocks remained unchanged.

Nestle Pakistan emerged as the top price gainer of the day with 77.95 rupee (92 US cents)increment to close at 1,636.95 rupee (19. 26 US dollars) whereas UniLever (NYSE:UL) Pakistan Foods led the losing numbers with 48 rupee (0.56 US cents) decrement to finish the day at 940 rupee (11 US dollars).

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LONDON: The Pakistan Air Force (PAF) will put on display its latest JF-17 Thunder warplanes at the world famous international air show in Farnborough

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LAHORE: Punjab Chief Minister Shahbaz Sharif Wednesday said resources worth billions of rupees have been provided to the police besides pay raise, thus responsibility of protecting life and property of the people lies with them.

Addressing meeting held here to take stock of Data Darbar?s security here at CM House, Shahbaz Sharif termed the deadly incident at the shrine as profoundly grievous.

Putting a question mark on the performance of police and security agencies in connection with Data Darbar carnage, the CM directed that an effective plan for the security of Data Darbar and other shrines be chalked out and presented in seven days.

He stressed on police and security agencies? being fully alert to stay safe from such negligence in future.

Later, in his meeting with Khyber-Pukhtoonkhwa Minister for Information Mian Iftikhar Hussain and KP senior Minister Bashir Ahmed Bilour, the Chief Minister said the perpetrators of Data Darbar attacks will be brought to justice and that extremism will be fought with unity.

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