Online Payroll Services

Today’s business world is highly competitive. Now more than ever, business owners need to focus more of their attention on running their business and spend less time taking care of menial tasks like payroll. This process alone can take a great deal of time and in most cases, businesses benefit greatly from streamlining this process. Instead of hiring an internal payroll department, many businesses choose to hire a payroll company that can take care of this task for them. For instance, CheckMate small business solutions will ensure that your employees are paid on time and provide a wide range of other services as well. These companies will accurately calculate the payroll of your employees and ensure that your business is complying with any regulations that are associated with payroll. They will also be able to take care of filing your payroll taxes for local, state and federal governments. They will even send out the payments for you. This will save you a great deal of time. Here are just a few of the many benefits to hiring a payroll company. 


 Cost Effective: Staffing your own payroll department can be very costly. Oftentimes, businesses save money by using the services of a payroll company and prices are typically affordable for small business owners. Time Saver: Business owners need to spend their time focusing on tasks that make their business grow and run efficiently. This type of service will save time and reduce stress as well. No longer will business owners need to file for their payroll taxes or calculate their payroll.

 Minimizes Mistakes: With manual calculations, there is always a great chance that an error will occur. A payroll service provider offers business owners peace of mind as there is less worry of mistakes occurring. Most companies will allow businesses to preview the calculations before it is even processed. Easy To Use: There is a little bit of work involved when first setting up the payroll calculations. Once this has been established, however, future processes can be done with ease. Most of these companies also offer help with setting up the account so that there are no problems later on.

Advanced Systems: Payroll companies will have systems that are always up-to-date and will notify you of any new tax regulations. This minimizes errors and allows business owners to spend more time worrying about their business’ day-to-day operations. Accurate: Accuracy is of the utmost importance with a payroll company as calculations need to be spot on.

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Fundraising Even More Critical In Today's Flat Economy

Getting financial help from people through charities, religious organizations and children activities has been extremely hard of late because people are pressured by diverse economic obligations which make them unable to have enough to spare for such activities. Consequently it has become hard to get financial help from people even when there is a genuine cause. However fundraising gold parties have come in hand as an ideal way of raising finances even in the tough economic times.



The gold fundraising parties involve people selling their unused and unwanted gold to identified buyers. The party organizer decides on a location to host the party where people who wish to sell their unused gold will congregate. The location can be on the host's house or another ideal place with ample space and security. After identifying the location, the host then identifies a trusted gold dealer who can be able to buy the gold which is anticipated to be sold at the party. The next step involves publicizing the party by advertising in forums such as the local news paper, the local radio, online and through making fliers. After advertising, the host just has to wait for the particular date for people selling their gold to meet and sell to the identified buyer.

Hosting such parties that sells gold is a great idea especially in these hard economic times since the host is almost guaranteed of getting certain amount of money. This means that as long as several people wishing to sell their unwanted gold and the buyer shows up, then the host will be assured that several transactions will take place and hence the host will get their share. This makes it convenient for the host since all they have to do is organize the party.

The economic pressure that prevents the public from participating in other forms of fund raising activities also affects the host. This means that just like other members of the public, the host might also be in a tight economic situation consequently making it hard to organize a costly event. However a fundraising gold party is an ideal way of raising money since it is cheap and affordable. This is attributed to the fact that all what the host has to worry about is the location and advertisement expenses. These two costs can even be forfeited by hosting the party in a home where there will be no expenses and advertising on the free forums. Hence hosting such a party is an economical way of raising funds especially when compared with other methods.

Another reason why holding a party to fund raise through selling gold is that the transactions are safe. This is because the buyer is usually identified in advance. The host and the guests get enough time to do a background check on the buyer hence authenticating that he is genuine and honest. This gives participant confidence and hence does not need to worry abut their gold while doing the transaction. Furthermore, the host can decide to enhance security by engaging the police or the local security people. Hence fundraising gold parties are an ideal way of raising funds especially in the current economic hard times.

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What to consider before migrating to Windows 7, when you're a small businesses

Even if the final version of Windows 8 is now available, most companies still plan to deploy to Windows 7. According to Forumswindows8.com, a large Windows 8 help and support forum, the majority of 50,000 users polled about their favorite Windows OS, preferred Windows 7. Also, another recent study polled 330 IT professionals on their experiences, expectations and concerns about Windows 7 migrations. 30% of them reported that Windows 7 had been completely implemented in their company, while the remaining 70% said that their deployment process was still in progress or not yet even started.
Most of the small businesses concerns are handled with Windows 7, like time constraints, compatibility issues, hardware requirements and security. Unfortunately, most small enterprises don't see the advantages in upgrading to Windows 7, finding it too time consuming and costly. Even though these are legitimate concerns, small companies have to think about the consequences that come with the decision to stick on their old OS – Vista or XP. Our recommendation: security and support are the 2 most important aspects small businesses have to keep in mind.

Risks and security concerns
By continuing to use old Oss, small businesses are exposing themselves to security risks. For example, all Windows XP security updates will end in 2014, leaving businesses still running on XP vulnerable to attacks and viruses.

Costs and support challenges
Small organizations spend great amounts of money on support, even though older systems might still work. An IDG whitepaper sponsored by Microsoft shows that the support for Windows XP is requiring more money each day that passes. Also, in the fourth year of continuing to use Windows XP, IT labor costs grow by 25%, while employee productivity draws a 23% higher cost. Actually, these costs are five times higher than they would be when operating Windows 7 systems.
At the same time, as OSs age, the support costs and the associated security risks outweigh the expense of replacing them. According to IDG, businesses that upgrade from Windows XP to Windows 7 see a ROI of over 130% over a three-year period. Through Windows 7, small companies can benefit from increased support for a bigger range of technologies, faster and better performing hardware. Also, by supporting the use of modern technologies like Windows 7, the IT staff improves their productivity and of course, that of your team.
Although the final version of Windows 8 is publicly available, most organizations plan to upgrade to Windows 7. Forumswindows8.com, a large Windows 8 help and support forum recently polled 50,000 users to know their favorite Windows operating system and the majority preferred Windows 7.

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What Do Those Recycling Numbers Mean?

Many of the products you buy these days come in some type of plastic container. What these containers all have in common is that somewhere on them is a code; an imprinted image that consists of the universal recycling symbol (the triangle of arrows) and a number from one through seven. These codes are called resin identification codes. Even though these numbers are used for the purposes of recycling, they actually don't have anything to do with the recycling process itself but what type of plastic the item is made of. Some plastics can be recycled while others cannot. If your Minnesota garbage disposal service provides recycling pick-up, it can inform you what plastic they can recycle based on that number.

Type 1 Plastics - PETE
PETE (or PET) is an abbreviation of polyethylene terephthalate. PETE is lightweight, inexpensive, and easy to recycle, which makes it an ideal container for beverages such as soft drinks, water, or beer. In fact, most beverages are sold in PETE plastics. Most garbage collection companies offer curbside pick-up for PETE plastics.

Type 2 Plastics - HDPE
HDPE stands for high density polyethylene. HDPE is a versatile plastic that is easy to recycle. Many waste collection companies that offer curbside recycling will pick up HDPE plastics. HDPE is used to make milk jugs, juice bottles, bleach bottles, shampoo bottles, motor oil bottles, butter tubs, recycling bins, agricultural pipe, playground equipment, and plastic lumber, among other things.

Type 3 Plastics - PVC
Polyvinyl chloride (PVC or just vinyl) is used in a wide variety of applications such as pipes, toys, furniture, clothing, non-food bottles, and windows. Although PVC is extensively used to manufacture a diverse range of products it is rarely recycled.

Type 4 Plastics - LDPE
Low density polyethylene (LDPE) is used to make carpet, clothing, furniture, laboratory equipment, plastic bags, shopping bags, six-pack rings, squeeze bottles, tubing, tote bags, and wash bottles. It is not commonly accepted for recycling.

Type 5 Plastics - PP
PP is an abbreviation for Polypropylene. PP is used for auto parts, caps, dishware, food containers, industrial fibers, various food bottles, medicine bottles, straws, and some yogurt containers. Some recycling programs have started to accept polypropylene for recycling.

Type 6 Plastics - PS
PS (polystyrene) is found in aspirin bottles, cafeteria trays, carry-out containers, compact disc cases, disposable cups, disposable plates, egg cartons, meat trays, packaging peanuts, plastic utensils, toys, and video cassettes. Some curbside programs accept polystyrene for recycling.

Type 7 Plastics - O
O (for "other") is miscellaneous plastics that are used to make bottles, bullet-proof materials, computer cases, DVDs, nylon, plastic lumber applications, signs, sunglasses, and three and five-gallon water bottles. These "other" plastics are usually not accepted by curbside programs for recycling.

See what services your current trash disposal company offers
Because of these variations of plastics, companies that offer recycling services often require that these plastics be separated for curbside pickup. Check with your garbage company about their recycling policy. People in the Twin Cities are serious about recycling and most companies offering garbage pick-up probably have programs and services to help make recycling easier for you. Not only is recycling good for the environment but it helps reduce the amount of material you throw in the trash. If you take the few moments required to check your trash you may find you have far more recyclable products than you thought. By recycling efficiently you might be able to use a smaller waste receptacle and thus reduce your garbage bill, saving you the green and making for a greener world.

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The Perks of Being an Entrepreneur

Being an entrepreneur and working for yourself is extremely rewarding and has been considered the most ideal lifestyle for most people. While this choice of career comes with innate challenges and risks, it comes with a number of benefits as well that you can’t get with a day or 9-5 job. 


 Perhaps the biggest challenge of being an entrepreneur is you do not have financial security you would when working at a day job and the first few stages of getting your business up and running may be intimidating for most people. Because of the risks linked with this career type, the idea of not having enough capital to pay bills and getting eventually in debt can be frightening. Also, it is likely that you should work for more hours during the initial phases of your starting business.

 In most instances, the early stages can be the most unstable and usually, it takes determination and perseverance to get the wheels turning. In addition to this, entrepreneurship comes with responsibility because you have to be able to know how to make the right decisions. Therefore the first challenges of managing your own business may include staying on target with your investment capital, dealing with low sales volume at times and keeping up with the accounting.

But in spite of the challenges, the benefits that come with being entrepreneurs are many. One benefit is having the freedom and flexibility to work for yourself. Running a business of your own means you can set your own working hours and work as much or as little as you need. You can even take day off when you need to without the getting the approval of your boss.

Another known advantage is increased in productivity that a lot of entrepreneurs experience. While office workers may not be thrilled with their work load and lacks passion, entrepreneurs typically have passion for their businesses. Hence it is not difficult to be productive if you really love what you are doing.
If you would meet advisors and get to talk to them, they will tell you the many other perks of being an entrepreneur such as having the opportunity to have unlimited income.

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Coroplast Signs In Vancouver– Modern Display Option for Business

Colorplast signs in Vancouver come with numerous quality features and advantages. The signs are among the modern display solutions that are commonly used by the contractors, real estate industry and also for political campaigns. 


 A properly designed business signage communicates the overall style, business objectives and professionalism of business. And an effective signage can help modern business owners achieve a lot of benefits related to business marketing and promotions.

 From helping in the promotion of products and services, an effective signage including coroplastsigns in Vancouver play a crucial role in increasing awareness of business. Along with it, it also helps in communicating useful information of business including opening hours, special prices, offers and much more.
As far as coroplast signs in Vancouver are concerned, these are counted among the most effective and inexpensive display solutions. From the real estate industry to leading contractors’political campaign organizers; the display option is common among a wide group of people.

We will come to know more about the demanding coroplast signs in this article. Please go through this article and get some useful information about the same in detail.

Useful features
The kind of signage can help business and campaigns by making message visible to every person who passes by.One of the best things about the option is that it can be customized in different shapes and sizes to fit actual business promotion or campaign needs. Adding to it, the color selection is also an option with it.

Uniqueness
One of the unique features is that the sign is developed from a kind of material which is known for its ribbed surface and this is the factor that gives it a tough plastic look. Another fact is that the sign can be designed as one-sided or two-sided. The waterproof quality is very unique and makes experts to regard the sign as one of the most unique and effective signage options. Adding to it, it lasts for years if it is used for indoor needs.

Benefits and advantages
Easily, the signs can withstand all sorts of climatic conditions including high temperatures etc. With a long shelf life, it can be used for both indoor and outdoor promotions. And the customization service for coroplast sheets available with leading service experts allow one to get the signs designed in any size along with the application of best selected artworks, designs, logos as well as photos.

Being easy to design, install and customize; the product can fit one’s specific promotion or campaign needs easily. Thus, from the above discussions on the useful features, uniqueness and advantages, it can be said that the coroplast signs are truly a modern display solution for business.

Instant Imprints with personalized screen printed shirts offer complete solutions related to coroplast signs in Vancouver, screen printing and much more in Vancouver, BC.

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Things to keep in mind before getting your business cards printed

Your business card doesn’t only leave a good impression on your client’s mind but it can also make him recall you whenever he needs a service that’s related to your business. A small business card will establish your rapport amongst your business associates and amongst your potential clients. It can help your company details stay in their mind for a longer period of time. Therefore, business card printing can is truly an important investment. It is actually a way of advertizing or popularizing your product. So, before you get your business cards printed, just keep in mind that first impression is the last impression. 


 One of the most important things to keep in mind is that your business card must reflect the actual image of your company. Your business card can make or break your company’s image. So, you should be very careful while selecting a card printing company. You must go for good quality business card printing services. You can choose a great printing company through the internet. There are a lot of card printing companies online. You can compare some of them and their work. You can also ask for quotes from different companies you have short listed. Afterwards, you can call the most suitable companies and set up a meeting with their representatives. You can meet the representatives of your company or you can talk to them on a call. This will help you find out how much these companies value their clients. This also helps you know if your company is willing to understand your business and its needs.

 Your card printing company must make cards that include all the important details about your business. Your cards should neither be too stuffed with information nor be empty. They must have your name, your designation, your contact number, your fax and your email information. They should also have your company’s name and logo on it. Company name and logo takes the center stage on your business cards. Don’t forget to add the company’s tagline or slogan on the cards. Your cards have to be elegant and attractive. All this is important but you must not make your cards weird only because you want them to stand out. Don’t use too many colors or overly loud colors on the card. Along with this, you must choose a font that is neither too big nor too small.

Layout is another important aspect to keep in mind. The layout of your business cards should be simple and neat. You should never choose unclear or confusing designs and fonts. Nobody has the time and will to figure out the designs of your card or to get lost in them. Complicated business cards only make the clients and business partners lose focus.

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Get Your Business Up and Running with an Ocala Managed Print Service

Don’t Let Printing Costs Hamstring Your New Enterprise
If you are starting a new business and require an Ocala managed print services company, there are five attributes for which you should look. The fact is going with the wrong company can result in you spending more money than you should and losing precious time and missing deadlines. You can’t afford to lose time to printers that are down or malfunctioning as that can meanlost revenues and clients.

Fantastic Looking Documents

It’s important that your documents look great. Working with a company that offers a range of products, including topnotch printers copiers and plotters, is essential. Premium equipment equals premium copies. When presenting materials people will first judge you by how those documents look.

Efficiency and Value

Keeping costs low is certainly important for any business and for a company that’s just starting out it’s essential. Working with an Ocala managed print services company like Laser Action Plus will help ensure efficiency while offering great value. That’s because Laser Action Plus is dedicated to finding specific solutions to each client’s challenges and problems.

Customized Solutions

The ability to be given a customized print solutionis vital to any new business. Chances are your business has specific challenges when it comes to printing. You may have an ongoing need for various types of copies, might utilize high-end plotters or require published reports and white papers that conform to specific industry standards. You need to work with a company that can handle any printing problem facing your startup.
Perhaps you have only one printing station that must serve a variety of needs or you have numerous printing sites and each is equipped with different machines. Workspace layout can be a major factor in your ability to function efficiently. Working with a managed printing services company that’s devoted to providing customized solutions will help ensure your company functions in a reliable, professional manner.

Less Downtime

You certainly don’t want any downtime when it comes to printing or copying. If your company supplies information that must be available in the form of a hard copy, any wasted time can mean a loss of trust, compromised deadlines and client dissatisfaction. No company wants or needs to earn a reputation for being undependable, but for a new business such as reputation can be deadly. Consider working with a print service management company that offers dependable, quick service and repairs, timely delivery of supplies and a quick connection via various forms of communication.

Meeting All Challenges

Finally, you want an Ocala managed print services company that’s designed to meet all of your challenges. Working with one such as Laser Action Plus, which thrives on solving problems through analysis and by providing various solutions, will give you choices that you readily utilize. Whether you’re a small, medium sized or large company, the fact is that you have specific needs and challenges when it comes to printing services. Going with a company that offers a range of services will help you find the answers you need and get the results you require.

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Understand the Process of Quality Encapsulation

Ever since their inception, capsules have been considered by most consumers to the most effective method of taking medication. Over the years, many drug-manufacturers such as Over-The-Counter analgesics developed the "capsule-shaped tablet" or "Caplet" to emphasize the effectiveness of their product, as well as to portray a positive association with more efficiently manufactured tablet pills.



Encapsulation refers to the technique of enclosing certain medicines inside the capsules, allowing them to be taken orally. Encapsulation is useful when the intended drug needs to be mixed with oil or other liquid to aid its absorption in the body. Hence, many consumers have a distinct preference for capsules - as being easier to swallow as well as being more effective. Besides Encapsulation allows drug to be absorbed more effectively, so lower doses can be used which in turn means the soft capsules can be made smaller, making swallowing easier.


Types
There are two main categories of capsules:

Hard capsules: More commonly seen, Hard Capsules are made of rigid shell in two pieces that fit together, and filled with the prescribed drug. This formulation is normally more suited for dry and powdered drugs.


Soft capsules: Made in a single piece, Soft capsules are primarily for active ingredients that are dis solvable in oils or other liquids e.g. Fish oils or drugs that need to be dissolved in oils or other liquids, to aid their absorption in the stomach.


The Process
A capsule contains medication, normally within a small gelatin container that is easily digestible by the body. Many Drug-Manufacturers use capsules because the nature of certain medicines makes it difficult to produce them in a tablet form. Creating a tablet requires an appropriate binding substance that allows the medication to form a solid shape, but without adversely affecting its properties or bio availability.


There are mainly two categories of materials that are used in encapsulation:

Gelatin capsules or gel caps are composed of gelatin manufactured from the collagen of animal skin or bone Vegetable capsules are composed of Plant polysaccharides or their derivatives like carriageways, and modified forms of starch and cellulose.
 

In addition, various other ingredients can also be added to the gel-formation agent such as glycerin to decrease the capsule's hardness, coloring agents, preservatives, lubricants and surface treatment.

Encapsulation of hard gelatin capsules can be done on automatic, semi-automatic as well as manual machines. While encapsulation of Soft Gel capsules require fully automatic machines, as they are produced, filled and sealed at the same time.


Nueranutra is a contract manufacturer of tablets, capsules etc. it offers tablet manufacturing, capsule manufacturing and similar health product manufacturing, packaging and labeling services for its global clientele. It operates from its Canada based licensed manufacturing facility that follows the cGMP guidelines.

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Ways To Choose Good iPad Development Companies

iPad development has nowadays become crucial to the success of any business. With new applications being launched each and every day, the potential and the reach of iPad is also expanding. Robust and reliable iPad application development opens up a whole new world for the users when they are on the go. And this is what the development companies strive to achieve in order to bridge the communication gap between organizations and their prospects. Those who wish to develop user-friendly application for the iPad for furthering their business reach should consider competent developers. Otherwise, it will be a sheer waste of time, money and resources.


Adequate research and investigation into the workings of a development company does away with wastage of every kind. Otherwise, it would be sad indeed if a project has to be abandoned in mid stride. There are different methods which can be used for finding a competent development company which has had prior experience in the related field.


Experience in the specific field

The very first thing to look for when choosing an iPad app development company is a research into their background and periods in the field of iPad application development. Every operating system is different; therefore, somebody who has relevant experience working with iPhones does not necessarily prove to be successful in the case of iPad. For example, the development of graphics for devices which are comparably smaller than the iPad is also different.


It is great to look for experiences which are identical to company requirements. Otherwise, there is an increased chance of getting the short end of the stick when the final results come out. It is necessary to remember that if something has to go wrong, it will always go wrong. Therefore, caution is crucial as far as selection of a development company or ipad developers for iPad applications are concerned.


Development of user-friendly applications

Delving into the successful projects offer prospective development company can provide a lot of useful information. For example, one can determine how successful a company is in the development of user-friendly applications. The advantage of such applications is that even the least tech savvy individual will be able to use it with aplomb and garner the maximum benefits using it. Take a look at their portfolio to find out whether or not their applications contain easy navigation, come with attractive and easy-to-understand graphics and are logical through and through.


Budget and time limit considerations

When choosing an application development company. It is this is necessary to determine, how scrupulous they are in maintaining time and budgetary limitations. Going over budget will never do and becoming late with product launch can simply play havoc with the company’s reputation. Setting up a time frame, when getting a quote is a good way to ensure the timely delivery of the finished application. Price comparisons can also be undertaken between various companies out there for making the final decisions based on the quotes in lieu of the services to be delivered. However, price should not be the only selection criterion since this may lead to quality compromise.

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‘Inconsistent policies keep overseas Pakistanis at bay’

LAHORE: Economists point out that reforms in India have delivered, aided by the Indian Diaspora, while more liberal Pakistani economy has remained in limbo because frequent tinkering in rules by both authoritarian and democratic governments here continues to keep overseas Pakistanis at bay, said a senior economist Naveed Anwar Khan.

Talking to The News, he said: “Real reforms provide level playing field while bypassing the reform agenda at the discretion of ruling elite turns the economic system into a rent seeking structure.”

The litmus test for checking the confidence on reforms is to see how Pakistani expatriates having huge foreign saving react to policies in the country.

‘Pakistan has a number of successful entrepreneurs operating in European Union, the U.S. and Canada. They have since long been waiting for the opportune time to go back and invest in their home land,’ he added.

However, he said, in his interaction with many expatriate Pakistanis he found Pakistan’s policies made no sense to them, which they think had diminished our standing in the world.

Naveed said India’s Diaspora had similar sentiments about the policies of their government in the1990’s, but the reforms introduced by Manmohan Singh during the Narasimha Rao regime instilled confidence in them. “Today more than 50 percent of foreign investment in India comes from Mauritius where large numbers of Indian immigrants reside.”

“If we analyze the foreign investment coming to India from Europe and the U.S., we come to know, this is coming mainly from Indians who migrated to these regions,” he said and added Pakistan is among the world’s top ten recipients of workers remittances, which indicate the strength of overseas Pakistanis.

However, he said, they send petty amounts to their relatives in Pakistan. They are reluctant to establish industrial projects from their huge savings as they have no trust in the system, he added.

A Canada-based certified public accountant, Asif Ali Shahid, said elites from Pakistan on their visit to developed economies increasingly experience disjunction between their sense of Pakistan’s ancient culture and glory and their realization that our foolish economic policies had led us to a situation where only few took us seriously.

He said Pakistani Diaspora ceaselessly brought home the fact that these policies had little rationale; they lived often in countries where our policies would have been laughed out of court.

Zafar Iqbal who has been living in Chicago since 1976 said some brilliant Pakistanis have demonstrated that if only they are given the chance and the opportunity, they can work our way to the top, a possibility that the U.S., a land made by immigrants which welcomes immigrants more than any other country, offers them in spades. “Offer us similar opportunities and do not reserve them for favored one and we will perform miracles,” he said.

Zafar said clearly there was nothing special about Pakistan that doomed it to its low growth rate: not its size, not its culture, not its geography, and not its history. “The problem lays in our choice of wrong policies; when the policies were good Pakistanis could have performed at the most enviable levels, second to none,” he added.

He said in case of Japan, its transformation through major initiatives throughout the Meiji era was accomplished rather by sending gifted Japanese abroad to bring back ideas that were adapted to Japan’s culture and needs. “In our case, the Diaspora could serve that function if we genuinely and sincerely engage them,” he insisted.

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KSE index hits fresh high on strong textile exports

KARACHI: The Karachi Stock Exchange’s (KSE) benchmark 100-index surged by 32.89 points to a fresh all-time high of 16,270.48 points on Monday against the previous high of 16,253 points on November 20, while turnover increased by nine million shares to 260.19 million, said dealers.

Analysts said that low-priced stocks led the way mostly in cement, textile and banking sectors. “Stocks closed bullish amid higher trades lead by second-tier stocks in cement, textile and the banking sectors on strong valuations,” said Ahsan Mehanti, an analyst at Arif Habib Corp.

The KSE-100 index rose by 32.89 points, or 0.20 percent, to 16,270.48 points from 16,237.59 points recorded in the last session. At one time, it reached a high of 16,311.03 points but could not sustain, while the lowest level of the day was recorded at 16,237.59 points. The KSE-30 index increased by 26.18 points, or 0.20 percent, to 13,197.47 points in the session.

Shares turnover was higher by nine million to 260.19 million shares but the value declined to Rs3.68 billion from Rs3.70 billion.

Concerns over rising circular debt in the energy sector, explosions in the city and uncertainty in the global stocks on Europe debt crisis affected the sentiment. “Strong textile exports and higher local cement prices played a catalyst role in the bullish sentiment at the KSE,” said Mehanti.

Hasnain Asghar Ali, COO of Escap, said active trading was witnessed in low-priced stocks with some carrying turnaround stories due to declining financial charges and rise in the local and export demands, while some carrying sensation of strategic buyouts, while others on mere speculation kept the junk portfolio active.

The KSE-100 companies contributed around 30 percent to the overall turnover, he said.

With concerns over gas supply at the economic front and the existing expectations of likely increase in volatility on the political front, caution is likely to persist. However, in case of deterioration on these issues, the local equity market may react in a wild manner, he said.

“It is, therefore, recommended to select stocks based on consistency in growth, payouts and low-priced stocks, carrying high probability of materialisation.”

An analyst at JS Research said that the textile sector once again remained in the limelight, whereas oil and gas sector was fairly dull throughout the day with no major volumes in the sector, while investors stayed cautious in the banking sector on anticipation of a rate cut in the next monetary policy.

Highest increase was recorded in the shares of Bata (Pak) XD, which increased by Rs71 to Rs1,491 per share followed by Colgate Palmolive, which rose by Rs50 to Rs1,300 per share. Major decline was noted in the shares of Indus Motor Co., which fell by Rs10.11 to Rs261.31 per share followed by Gillette Pak that declined by Rs5.70 to Rs108.30 per share.

Stocks that recorded significant turnover included Summit Bank, Fauji Cement, Maple Leaf Cement, Pervez Ahmed Securities and DG Khan Cement. Summit Bank was the volume leader with a turnover of 29.37 million shares with an increase of two paisas to Rs3.02 per share, followed by Fauji Cement with a turnover of 17.25 million shares with an improvement of six paisas to Rs7.03 per share.

Shares turnover in the futures market surged to 20.59 million from 4.20 million shares traded in the previous session.

Of 386 companies’ shares traded, 248 advanced, 123 declined and 15 remained unchanged.

Bata Pak Rs71.00

Closing Rs1,491.00

Colgate Palm Rs50.00

Closing Rs1,300.00

Island Tex Rs37.50

Closing Rs787.50

Indus Motor Rs10.11

Closing Rs261.31

Gillette Pak Rs5.70

Closing Rs108.30

Exide Pak Rs4.91

Closing Rs325.09

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Banking spreads decline in 10 months

KARACHI: The spread between bank deposits and loans fell by 54 basis points (bps) to 7.11 percent during the first 10 months (January to October) of the current calendar year from 7.65 percent in the same period last year, according to the latest data from the State Bank. Analysts have said that this is the lowest 10-monthly average banking spread in the last seven years.
“The dip in the banking spread rate during January-October 2012 period was abided by a sharp 75 bps reduction in banks’ average lending rate, which stood at 12.91 percent against an average lending rate of 13.7 percent last year,” said Farhan Mahmood, senior analyst at Topline Securities.

Moreover, the spread started to decrease following the 400 bps cut in policy rates since October 2011 led to an average decline of 200 bps in six-month Karachi Interbank Offer Rate (KIBOR).

KIBOR stood at 11.3 percent in Jan-Oct 2012 against 13.6 percent during the correspondin period of the preceding year, he said.

Deposit rate was lower by 20 bps to 5.8 percent from average six last year, despite increase in minimum deposit rate on saving accounts in May 2012, he added. During October 2012, banks’ average spread was at 6.77 percent compared with 7.67 percent in October 2011, down 90 bps primarily due to 127 bps reduction in lending rate, which is now below 12.5 percent after a gap of more than four years.

“Deposit rate remained lower by 37 bps to 5.64 percent, primarily due to increase in low cost current deposits and reduction in deposit rates on expensive deposits. Similarly, on a month-on-month basis, banking spread declined by 13 bps following the quarterly adjustment of lending rate by most of the banks (lending rate down 24 bps month-on-month) after reduction in policy rate by 150 bps in the third quarter of 2012,” said Mahmood.

“Average spread is expected to remain around seven percent in 2012. Nonetheless, despite the fact that core earnings are expected to remain flat amid fall in spreads, overall bank earnings are expected to grow by more than 14 percent mainly due to lower provisioning,” he said. The banking sector has underperformed because of a shrinking margin following a series of policy rate cuts, he said.

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Auto parts import from India likely

KARACHI: The government of Pakistan is likely to permit import of auto parts from India from January 2013, The News has reliably learnt on Monday.

This will allow Pak Suzuki Motor Company Limited (PSMC) to resume production of Alto.

PSMC had discontinued production of Alto in July 2012, as it converted all models to Euro-II standards.

Alto parts that meet Euro-II standards are only available in India, which presently are on the negative list of imports from India, according to the industry sources.

However, the company’s spokesperson, Shafiq Ahmed Shaikh, said that he could not confirm the date of resumption of Alto production.

He said the company had been requesting the government since February 2012 to allow them import at least 159 parts from India, adding “but we are still waiting for the approval”.

The production of Alto was stopped because 159 parts of Alto, which are Euro-II compliant, are made only by India in the world.

Shafiq Ahmed Shaikh said that it was supported by Pakistan Association of Auto Parts and Accessories Manufacturers (Paapam).

He said around 76 direct vendors and numerous indirect vendors are in big problems and near to close because these are only the Alto vendors. They invested billion of rupees, which will go in drain and also thousands of employees be unemployed, he warned.

If parts are green signaled, this will let Pak Suzuki export this vehicle to foreign countries to earn the government foreign exchange and a new model will come in the market, he said.

Once again, we are requesting to the government to approve this proposal this month, otherwise, we and our local vendors will not only lose our investments but also miss the chance to earn export revenue and introduce Pakistani product in the world, he added.

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Tax authorities estimate size of informal economy at 44 percent of GDP

ISLAMABAD: Tax authorities have estimated that the size of informal economy stood in the range of 31.4 to 44 percent of gross domestic product (GDP), according to official documents of the Federal Board of Revenue (FBR).

The proposed amnesty scheme will give last opportunity to avail after approval of the parliament to those who are major beneficiaries of huge volume of black economy, it said.

“Unfortunately, Pakistan has a large percentage of underground economy. It is difficult to estimate the exact volume but different studies have estimated the size of underground / informal economy in the range of 31.4 percent to 44 percent of the GDP,” according to the documents.

The FBR’s working also referred other studies done in the past in order to give policymakers a candid comparison to reach the rationale decision.

Referring to the World Bank’s research done in July 2010, it said that the size of informal economy stood at 36.7 percent of GDP. The State Bank of Pakistan had estimated the size of informal economy at 27.3 percent in 2000s and 28.6 percent in 1990s.

According to the Global Financial Integrity Organization paper on Illicit financial flows from developing countries 2000-09 (December 2011), the illicit financial flows was estimated at $1,449 million.

According to the research conducted by Ali Kemal of Pakistan Institute of Development Economics (PIDE) for 2007-08, Pakistan’s formal GDP was half the GDP. However, it is still an underestimated figure since investment data is not adjusted. The informal economy is 91.4 percent of the formal economy, he revealed during the last PIDE conference held in Islamabad in November.

However, the FBR has informed the prime minister, the finance minister and other cabinet ministers that several countries in recent past have provided opportunity to whiten income in their respective countries.

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Rupee declines

KARACHI: The rupee marginally fell against the dollar on Monday in the range-bound trading activity at the interbank market, said dealers.

The rupee closed at 96.17 to the dollar at the interbank market, down by 11 paisas against Friday’s closing of 96.06, said dealers.

However, the rupee was being traded at 96.70 for buying and at 97.10 for selling in the open market.

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KSE suspends shares trading of 21 companies

KARACHI: The Karachi Stock Exchange (KSE) has suspended shares trading of 21 companies from November 29 for violating the rules of the exchange and not complying with the issued notices, according to a statement on Monday.
The suspended companies included Sarhad Textile Mills Limited, Annoor Textile Mills Limited, Bela Automotives Limited, Central Forest Products Limited, Dadabhoy Construction Technology Limited, Hamid Textile Mills Limited, Khurshid Spinning Mills Limited, Karim Cotton Mills Limited, Globe Textile Mills Limited, Data Textiles Limited, Hajra Textile Mills Limited, Mehr Dastgir Textile Mills Limited, Morafco Industries Limited, Saleem Denim Industries Limited, Service Fabrics Limited, Service Industries Textiles Limited, Taj Textile Mills Limited, Sindh Fine Textile Mills Limited, Thal Textile Mills Limited, Genertech Pakistan Limited and Mukhtar Textile Mills Limited.

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Planning Commission releases Rs90.4bn for PSDP projects

ISLAMABAD: The Planning Commission of Pakistan has released Rs90.4 billion under its Public Sector Development Programme (PSDP) against total allocation of Rs233 billion for FY13.
Of the total, Rs51.6 billion have been released for 344 infrastructure development projects while the sum of Rs35.8 billion was released by November 23 for 673 social sector projects, according to the latest data of the Planning Commission.

Similarly, the amount of one billion rupees was released for 68 other projects and the sum of two billion rupees was allocated to the Earthquake Reconstruction and Rehabilitation Authority (ERRA).

According to data, these releases have been made against Rs233 PSDP allocations.

The total size of the PSDP for the year 2012-13 is Rs360 billion, including Rs100 billion in foreign aid, which is managed by the Economic Affairs Division and Rs27 billion for special programmes, which is released by the Cabinet Division or Finance Division.

Total cost of 344 infrastructure projects has been estimated at Rs2346.4 billion, of which Rs210.9 billion was earmarked in the 2012-13 budget that includes Rs85.6 billion as foreign aid.

Likewise, the total cost of social sector projects is Rs547.1, of which Rs136.2 billion has been allocated in the current PSDP with Rs8.4 percent foreign aid. The cost of other projects has been estimated at Rs40.6 billion, of which the sum of three billion rupees was earmarked in the PSDP 2012-13 while the amount of Rs10 billion was earmarked for ERRA in the current development programme.

The Planning Commission of Pakistan has been following a proper mechanism for the release of funds and accordingly funds are released as per the given mechanism. The commission releases 20 percent of funds in the first quarter (July-September), 20 percent in the second quarter (October-December), 25 percent in the third quarter (January-March) and 35 percent in the fourth quarter (April-June).

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Lucky Cement considering setting up plant in Indian Punjab

KARACHI: Under a strategy to make its presence possible in the lucrative developing markets of Africa and Asia, Lucky Cement has now approached the Indian government to acquire details about setting up a cement production plant in Indian Punjab, said an official on Monday.

Lucky Cement expressed the hope that it will take the company roughly 12-18 months to kick-off the project, said a senior official of the company.

“The company has approached Indian government to know as to what is its policy to welcome direct investment from Pakistan in its cement sector,” said Muhammad Ali Tabba, chief operating officer of Lucky Cement.

“This is just the beginning and may take a long time of around one-and-a-half years to initiate the project in India if the company finds the project feasible.”

Reportedly, India has lifted a ban on foreign direct investment from Pakistan about three months ago after the two countries agreed to strengthen economic ties.

“Roughly, the company annually exported around 100,000 tons of cement to India in recent years,” he said. The company claims that it is the largest cement producer of Pakistan with an annual production capacity of 7.75 million tons.

The company is also in the process of setting up a production plant in Sri Lanka, said the official.

“The project in Sri Lanka is in advanced stage.

As soon as we get land and licence from the Sri Lankan government, we will initiate the project,” said Tabba.

Moreover, it has also initiated projects n Iraq and Congo, Africa in recent times, said sources.

Lucky Cement is a listed company at the Karachi, Lahore and Islamabad stock exchanges. Its share price fell by 17 paisas to Rs141.66 on a turnover of 564,200 shares at the KSE on Monday.

Lucky Cement Limited declared a profit-after-tax of Rs2.01 billion for the quarter ended September 30, which was 34 percent higher than Rs1.50 billion earned in the same quarter last year, according to profit and loss accounts.

The CEO said that the company would probably set up the plant in Indian Punjab as the territory offers higher opportunity of doing business in the sector against highly competitive Gujarati markets. An Indian business newspaper, Mint (Hindustan Times’ affiliate) reported that Lucky Cement is exploring possibilities to establish the unit in the Amritsar (North-Western region).

Moreover, the company might export clinker to its [to be] Indian plant and then convert it into finished brand there, he said.

It was yet to be finalised as the Lucky Cement would establish the plant all alone or it would enter into joint venture there with a local partner. “Options, in this regard, are still open,” he said.

The company is to determine the size of funds to be invested there. “The investment in India would be a mix of equity and debt,” he said.

Muhammad Rehan Khan, an analyst at First Capital Equities, said that Lucky Cement has successfully established its brand in the Indian market, while the management of the company has also repeatedly highlighted the “lucrativeness of Indian cement market, owing to its huge area and growing middle class.”

“If pursued, this project is likely to be a prudent growth initiative by the management,” he said.

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Debt servicing consumes Rs314bn in first quarter

ISLAMABAD: Pakistan’s debt servicing of domestic and foreign loans has become largest single item of national expenditures compared with other major heads including the combined defence and development expenditures.

The debt servicing as single component has outpaced defence and development expenditures as it consumed Rs314 billion in the first quarter (July-Sept) of the current fiscal year, with domestic debt servicing amounting to Rs299.438 billion and foreign debt servicing to Rs13.390 billion, shows the data released by the ministry of finance on Monday. During this period, Rs191 were spent on defence and development.

Individually, defence expenditures stood at Rs117 billion and development expenditures were registered at Rs74 billion.

The economic trend is reminiscent of the decade of 90s when debt servicing emerged as the main problem out of the 3Ds i.e. debt servicing, defence and development.

Due to an unprecedented increase of 73 percent in loan repayments (Rs314 billion versus Rs181 billion in the same period last fiscal year), or Rs132 billion, overall budget deficit soared to Rs282 billion, or 1.2 percent of gross domestic product (GDP) in the first three months of FY13.

A major portion of interest repayments was redirected to domestic loans, as this amount stood at Rs299 billion compared with Rs169 billion. The interest payment on foreign loans consumed Rs13 billion as against Rs12 billion.

However, nontax revenue helped in containing budget deficit, as the government collected Rs240 billion in July-Sept FY13 compared with Rs104 billion in the comparable period, noted the data

Of the total consolidated expenditures of federal and provincial governments standing at Rs887 billion, the current expenditures accounted for Rs812 billion in this period.

Since the figures are yet to be reconciled, the statistical discrepancy went up to Rs88 billion in the first quarter of the current fiscal year compared to Rs38 billion in the same period a year ago.

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