Interest rates on new foreign currency deposits issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (December 05, 2006).
The country is likely to face a shortfall of around 2.5 million bales of cotton, as the recent rains have badly damaged the quality of cotton in Sindh and Punjab, said brokers in the Karachi Cotton Association (KCA) here on Tuesday.
A deal has been finalised for the sale of Pakistan Industrial Credit Investment Corporation (Picic), the largest Development Financial Institution (DFI) and its subsidiaries, well informed sources told Business Recorder here on Tuesday.
A deal has been finalised for the sale of Pakistan Industrial Credit Investment Corporation (Picic), the largest Development Financial Institution (DFI) and its subsidiaries, well informed sources told Business Recorder here on Tuesday.
A deal has been finalised for the sale of Pakistan Industrial Credit Investment Corporation (Picic), the largest Development Financial Institution (DFI) and its subsidiaries, well informed sources told Business Recorder here on Tuesday.
The Securities and Exchange Commission of Pakistan on Tuesday sent the draft of the proposed ''Private Equity and Venture Capital Fund Rules'' to its parent ministry--Ministry of Finance--for review and vetting.
The Securities and Exchange Commission of Pakistan on Tuesday sent the draft of the proposed 'Private Equity and Venture Capital Fund Rules' to its parent ministry--Ministry of Finance--for review and vetting.
Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
The Securities and Exchange Commission of Pakistan on Tuesday sent the draft of the proposed 'Private Equity and Venture Capital Fund Rules' to its parent ministry--Ministry of Finance--for review and vetting.
Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Alternate Energy Development Board (AEDB) will provide electricity to about 400 villages through renewable energy costing Rs 14 million. The villages, which were 20 kilometres off from the national grid, would be provided electricity through solar cells.
Alternate Energy Development Board (AEDB) will provide electricity to about 400 villages through renewable energy costing Rs 14 million. The villages, which were 20 kilometres off from the national grid, would be provided electricity through solar cells.
Alternate Energy Development Board (AEDB) will provide electricity to about 400 villages through renewable energy costing Rs 14 million. The villages, which were 20 kilometres off from the national grid, would be provided electricity through solar cells.
Eurozone hopeful Cyprus expects to achieve a close to balance budget by 2010 by holding down costs and monitoring spending more closely, the Finance Ministry said on Tuesday.
President Pervez Musharraf has asked the women of the country to vote in the forthcoming general elections against those who opposed the Women Protection Bill (WPB). "You are 8 crore. Get together and reject the elements who want to keep you underprivileg
Hungary's parliament on Tuesday approved the key figures of next year's budget which sees cutting the deficit to 6.8 percent of GDP and which will be the litmus test of the government's fiscal adjustment programme.
President Pervez Musharraf has asked the women of the country to vote in the forthcoming general elections against those who opposed the Women Protection Bill (WPB). "You are 8 crore. Get together and reject the elements who want to keep you underprivileg
European regulators said in an expected move on Tuesday they have no objections to the proposed $13.8 billion merger between Euronext and NYSE, removing a hurdle for the first transatlantic stock exchange.
Pakistan cricket team led by Chairman Dr Nasim Ashraf on Tuesday visited Federal Government Services Hospital (FGSH) and distributed cheques and gifts among the patients, especially children.
Grain exports from the French port of Rouen totalled 505,216 tonnes for the whole of November, comprised of 450,024 tonnes of wheat and 55,192 tonnes of barley, port officials said on Tuesday.
Pakistan Cricket Board (PCB) on Tuesday expressed satisfaction over the verdict of Appellate Tribunal that exonerated pacemen Shoaib Akhtar and Muhammad Asif from doping charges saying the case was over after the tribunal ruling.
Singapore bunker prices fell on Tuesday, and its differential to fuel oil cargo values softened to a discount of $3-$4 a tonne, traders said on Tuesday.
Pakistan would give up its claim to Kashmir if India agreed to give the disputed Himalayan territory autonomy under the joint supervision of both countries, President Pervez Musharraf has said.
Norwegian shipping group Golden Ocean Group Limited said on Tuesday it would buy four dry-bulk ships from Daehan Shipbuilding Co in South Korea for $72.25 million per vessel. The ships of 170,000 dwt will be delivered between May 2008 and January 2009, Go
Simon Galpin, Associate Director General, Invest Hong Kong has offered his assistance by way of providing information on service providers, and on the general business environment of Hong Kong and expatriate familiarisation information.
The Karachi Port handled 63,387 tonnes cargo including 52,695 tonnes import, 10,697 tonnes export cargo and 2,174 containers during last 48 hours ending at 0700 hours on Tuesday. The cargo comprised of 35,578 tonnes dry cargo including 32,405 tonnes gener
Chiniot has the potential to become a world class furniture manufacturing centre, Dario Corbetta, head of the Italian Furniture Manufacturing Association (ACIMAL) said here on Tuesday.
Ukraine's grain exports fell sharply in November 2006 due to export restrictions introduced by the government to avoid a domestic grain shortage and keep bread prices stable, analysts said on Tuesday.
China, the world's third-largest gold consumer, expects its consumption of the precious metal to reach about 350 tonnes and gold output to top 240 tonnes this year, state media reported on Tuesday.
Morocco plans to sell its majority stake in leading shipping company Comanav by the first quarter of next year, Comanav's chief executive said, as part of wider reforms of the state-run maritime sector.
South Korea has issued tenders to buy a total 44,069 tonnes of US rice, an official at the state-run Korea Agro-Fisheries Trade Corp said on Tuesday. The tenders are to help South Korea meet part of its import quota under a World Trade Organisation agreem
US FOB corn and soyabean basis offers were mostly steady on Monday, with traders expecting export demand to pick up after a slump in CBOT futures. Hard and soft red winter wheat were steady, supported by slow movement but demand remained sluggish.
World coconut oil trade is likely to fall by 4 percent in 2006/07 because of an expected drop in exports from major producer Philippines due to domestic biodiesel consumption, oilseeds analysts Oil World said.
Ukraine is likely to raise sunflower oil and rapeseed exports sharply in 2006/07 on a higher oilseed crop and strong foreign demand from biofuel producers, a leading analyst group said on Tuesday.
The European Union's winter rapeseed plantings are likely to rise by nearly 7 percent this year to 5.6 million hectares due to strong biodiesel demand, Hamburg-based oilseeds analysts Oil World said on Tuesday.
Spot basis bids for corn and soyabeans were mostly steady to firm around the US Midwest on Monday, but country movement was light as a sharp decline in the futures market discouraged much selling, dealers said.
Wheat futures on the Chicago Board of Trade closed lower on Monday, influenced by a sell-off in corn futures and a lack of supportive news, traders said. "It's technical weakness coming into the market, the lack of any new fundamental influences from the
A few deals were seen on the grain market on Tuesday as most of the dealers kept on the sidelines to see prices come down to their psychological levels, dealers said. On the seed side, cottonseed oilcake with bag shed Rs 10 to Rs 670-680 in process of tra
Asian naphtha fell on Tuesday, although its spread against Brent crude held firm at a five-month high of nearly $110 a tonne for late January in the wake of tight supply amid healthy demand, traders said.
US cocoa futures contracts ended lower on Monday and the market sought direction after sterling eased against the dollar following its rise to 14-year highs last week, floor traders said.
Crude and gasoline futures on the Tokyo Commodity Exchange (TOCOM) fell on Tuesday in line with United States futures but the benchmark kerosene contract edged up, helped by continued buybacks, a dealer said.
Spring wheat futures on the Minneapolis Grain Exchange closed lower on Monday in thin trade, following a 3 percent decline in Chicago Board of Trade corn futures, traders said.
US arabica coffee futures settled lower on Monday, with local long-liquidation triggering sell-stops, causing the market to correct after making fresh highs last week, traders said.
Copper futures in New York managed to eke out modest gains on Monday amid a general lack of participation partly due to the debut of a new electronic trading platform for Nymex metal futures contracts, floor dealers said.
Gold futures ended a touch higher in choppy trade on Monday, erasing losses on improved investment interest as traders deciphered the debut of Comex metals contracts on the Globex electronic platform.
Tokyo gold and silver futures inched down in slow trade on Tuesday as firmness in the yen curbed the appetites of local individual investors. Gold prices fell from their highest level in almost four months marked late last week, and silver prices came off
Gold rose in thin trade on Tuesday as the dollar hovered near a 20-month low against the euro, but the metal was still struggling to break stiff resistance at $650 an ounce. Silver rose to its highest price in more than six months at $14.09 an ounce on in
Australia slightly raised its official forecast for the 2006/07 wheat crop on Tuesday to 9.7 million tonnes, but the estimate is still down 61 percent on a year ago as one of the worst droughts on record ravages crops.
Oil prices rose slightly on Tuesday as the threat of a further output cut by Opec producers who meet next week was offset by milder weather forecasts and expected strong fuel stockpiles in the United States. US crude was trading 20 cents higher at $62.64
Shanghai copper prices fell over 2 percent in restrained trade on Tuesday and turnover was also thin for most London Metal Exchange contracts as business slowed ahead of the year-end holidays.
Indian sugar futures rose for a second straight day on Tuesday on renewed expectations that an export ban would soon be lifted, while soyoil futures fell on weaker international markets. Wheat futures gained on bargain buying after a week-long fall in pri
Raw sugar futures closed on Monday at a 1-1/2 week low as speculative sales depressed the market although operators said trade and consumer buying could spark a rebound later in the week.
Soyabean futures at the Chicago Board of Trade fell to a two-week low on Monday, pressured by the weakness in corn and soyabean oil markets and prospects for a bigger Brazilian soya crop, traders said.
Rough rice futures at the Chicago Board of Trade closed weaker on Monday on a slight profit-taking setback from Friday's rally, with the January contract holding above $10, traders said.
Tokyo rubber futures reversed their late recovery in the previous session to fall about 1 percent on Tuesday as the market refocused on bearish incentives such as rising Japanese inventories and firmness in the yen.
Malaysian crude palm oil futures closed 1.2 percent lower on Tuesday, dragged down by a decline in prices of rival soyoil and a firm ringgit currency. The benchmark February contract on the Bursa Malaysia Derivative exchange finished down 23 ringgit, or 1
Egyptian Finance Minister Youssef Boutros-Ghali said on Tuesday that unexpectedly high revenue had flooded the Egyptian treasury, prompting it to cancel some of the regular auctions of treasury bills.
Egyptian Finance Minister Youssef Boutros-Ghali said on Tuesday that unexpectedly high revenue had flooded the Egyptian treasury, prompting it to cancel some of the regular auctions of treasury bills.
The IMF will trim its global growth forecast for 2007 but the outlook remains healthy for a year of "profound change" where Europe and Asia do more for growth as the US economy weakens, a top IMF official said on Tuesday.
The dollar's shrinking value could correct some imbalances arising from huge US trade deficits and the decline may have further to go, the International Monetary Fund's chief economist said on Tuesday.
US worker productivity rose by a weaker-than-expected 0.2 percent in the third quarter, but unit labour costs grew less than initially thought in a sign of moderating inflation pressure, government data showed on Tuesday.
Saudi Arabia is on track to meet its goal of expanding oil production capacity to 12.5 million barrels per day by the end of 2009, the head of the US Energy Information Administration said Tuesday.
The US government's top energy forecaster on Tuesday said it raised its estimate for world crude prices in 2010 by more than $10 a barrel, roughly 20 percent, to $57.47 a barrel.
EU newcomers should step up efforts to join the eurozone as their progress on cutting inflation and high budget deficits is patchy, the European Commission and the European Central Bank (ECB) said.
Russia's government raised its forecast for economic growth, shares hit a record and the rouble pushed to new seven-year highs against the dollar on Tuesday as a now traditional year-end stock market rally gathered pace.
The European Union will push to include labour standards in new bilateral trade deals including those it plans to hammer out with Asian countries next year, EU trade chief Peter Mandelson said on Tuesday.
The world's richest two percent of adults own more than half of global household wealth, while half the world's population own only one percent, a UN report published on Tuesday showed.
Japan's government is likely to draft proposals this month calling for new rules requiring auto makers to make their vehicles around 20 percent more fuel efficient by April 2016, a transport ministry source said on Tuesday.
The Bosnian Serb Republic said on Tuesday it would sell a 65 percent stake in Telekom Srpske to Telekom Srbija for 646 million euros ($860.5 million) in Bosnia's biggest privatisation this year.
A top US trade envoy leading the biggest ever business delegation in American history appealed to India Tuesday to go the extra mile in opening up its booming economy for foreign investment.
Swiss technology group Oerlikon bought the main assets of UK laser specialist Exitech for less than 10 million Swiss francs ($8.4 million) as it presses ahead with an aggressive acquisition strategy.
The European Union's proposed new rules on audio-visual content would allow one member country to block broadcasts from another and would weaken the single market, an alliance of media companies said on Tuesday.
Philips Electronics set core profit forecasts for next year that disappointed some investors, sending its shares lower, but kept its 2006 target for its main business units on Tuesday.
Philips Electronics set core profit forecasts for next year that disappointed some investors, sending its shares lower, but kept its 2006 target for its main business units on Tuesday.
EADS co-Chief Executive Tom Enders said there was no need to scrap the freighter version of the Airbus A380 superjumbo even though it now only has one customer.
Delta Air Lines would be allowed to terminate its pilots' pension plan under an agreement announced on Monday, clearing a significant hurdle in its bid to restructure and exit bankruptcy next year.
Italy is to sell off national airline Alitalia, the Treasury said on Tuesday, in the most dramatic step yet to end years of losses and failed bailouts.
The United States has withdrawn a proposal that would have loosened rules on foreign control over US airlines, a key part of a planned EU-US aviation agreement, the European Commission said on Tuesday.
Japanese video game maker Nintendo Co Ltd said it may beat its earnings forecasts for the year to March as well as its sales target for the DS handheld games device.
Japanese video game maker Nintendo Co Ltd said it may beat its earnings forecasts for the year to March as well as its sales target for the DS handheld games device.
China's top leaders gathered Tuesday to decide economic policies for 2007, a "crucial" year that will see a renewed focus on a fairer distribution of the country's growing wealth, state media and officials said.
South Korea Tuesday cut its economic growth target for next year due to sluggish private consumption and investment, as a steep rise in its currency, the won, threatens to hurt exports.
Chinese telecom stocks listed in Hong Kong surged on Tuesday after the country's top telecoms official said Beijing may issue long-awaited third-generation (3G) mobile network licences soon.
Hitachi Ltd Japan's biggest electronic conglomerate, expects double-digit sales growth in China on growing demand products ranging from telecom equipment and escalators to nuclear power equipment.
Hitachi Ltd Japan's biggest electronic conglomerate, expects double-digit sales growth in China on growing demand products ranging from telecom equipment and escalators to nuclear power equipment.
Taiwan shares ended down 0.49 percent on Tuesday, pulling back from a six-year closing high, amid concerns a strong rally in property-related shares in the past month could not justify their earnings growth.
Malaysian share prices closed 1.07 percent higher on Tuesday on strong buying in selected blue chips and buoyed by gains on Wall Street overnight and advances in regional markets, dealers said.
Hong Kong blue chips rose 1.3 percent on Tuesday as telecom plays surged amid expectations that China will soon issue long-awaited 3G licences. Gains in China Telecom and mainland banks propelled Hong Kong-listed shares in mainland companies, or H shares,