Emirates Global Islamic Bank Limited (EGIBL) will act as financial advisors to arrange the first ever rupees two billion Sukuk, issued for the infrastructure development of industrial parks in Pakistan.
The Punjab public exchequer had to face additional financial burden of Rs 98.77 million for the purchase of spare parts to revitalise M-I-17 helicopter under the official use of provincial chief executive.
The administration of Lal Masjid on Thursday unconditionally freed the remaining two policemen after holding them hostage for almost a week. The seminary students had abducted four officials while they were on duty in plainclothes last Friday in a bid to
The rise in global oil prices has increased risks especially to US consumer spending, but that should not have "a tangible impact" on world economic prospects, an IMF spokesman said on Thursday.
India's prime minister struck out at big business for operating price cartels, and warned business families and executives not to fuel a rich-poor divide with excessive salaries and greedy behaviour.
Air France-KLM posted a 33 percent rise in annual operating profit on Thursday and embarked on fresh cost cuts aimed at translating rising margins into a payback for investors, amid a fragile industry recovery.
Air France-KLM posted a 33 percent rise in annual operating profit on Thursday and embarked on fresh cost cuts aimed at translating rising margins into a payback for investors, amid a fragile industry recovery.
China sought to assure its trade partners on Thursday that its food products were safe, after the United States called Chinese food exports a "top concern" and pressed Chinese officials to strengthen oversight.
US President George W. Bush said on Thursday he had pressed China to allow its currency to strengthen and to do more to open its markets to products such as US beef.
Sales of new US homes rose 16.2 percent in April, the sharpest climb in 14 years as builders slashed prices a record 11 percent, a government report showed on Thursday, signalling stabilisation in the housing sector. Other reports also reflected economic
France looked willing on Thursday to temporarily shelve budget deficit cuts to give President Nicolas Sarkozy all the levers he needs to boost growth. The message has come through loud and clear in recent days, with National Accounts Minister Eric Woerth
The eurozone's top three economies reported weaker-than-expected business confidence on Thursday, suggesting growth in the single currency area may be running up against its limits. In Germany, business morale was unchanged in May, against expectations of
The global economy is doing better than for years as red-hot Chinese growth combines with comebacks by Europe and Japan to offset a US slowdown, the Organisation for Economic Co-operation and Development said on Thursday.
Further unwinding of so-called carry trades could be triggered if investors re-evaluate risk and eurozone and Japanese interest rates climb, the Organisation for Economic Cooperation and Development indicated on Thursday.
The Egyptian government has set aside 100 million Egyptian pounds ($17.6 million) as subsidies to clothing and textile producers hit by cuts in customs duties on imported clothes, the ministry of trade said on Thursday.
Japanese exports to the United States fell in April from a year earlier for the first time in more than two years, but firm shipments to Asia offset the drop and helped Japan's trade surplus expand by more than 50 percent.
Japanese government bond futures slumped to a one-month low and 10-year yields hit a three-month high on Thursday as falls in overseas bond markets prompted investors to trim their JGB holdings.
Japanese government bond futures slumped to a one-month low and 10-year yields hit a three-month high on Thursday as falls in overseas bond markets prompted investors to trim their JGB holdings.
A drive to clean up Bangladeshi politics by the army-backed interim government could lay the groundwork for more sustained economic growth, but businessmen said it was also taking a toll on the economy in the short term.
Malaysian crude palm futures ended 2.3 percent higher on Thursday to hit fresh near-nine-year highs, boosted by firm soyaoil prices and hopes of robust growth in exports. The benchmark August contract finished up 56 ringgit, or 2.3 percent, at 2,445 ringg
Indonesian crude palm oil prices rose more than 2 percent on Thursday, boosted by gains in the Malaysian market and an easing rupiah against the dollar. In an auction in North Sumatra's Median, crude palm oil sold at 6,950-6,965 rupiah ($0.793-$0.795) a k
Asia's vegetable oil guzzles, China and India, are likely to step up purchases in the coming months and boost palm oil prices, which has already hit near-nine highs on a squeeze in supplies.
Soyabean futures at the Chicago Board of Trade ended higher on Wednesday on technical buying, with the nearby contract closing above key resistance of $8, traders said. "We sold off yesterday and we're getting a little bit of a bounce today," said oilseed
Raw sugar prices finished mostly lower on Wednesday in a subdued session featuring small speculators, and the absence of news should keep the market in a tight band for now, brokers said. New York Board of Trade's key July contract rose 0.01 cent to close
Japanese rubber futures ended higher on Thursday on speculative buying, but profit-taking kept prices below key resistance at 300 yen. The benchmark rubber contract on the Tokyo Commodity Exchange for October delivery settled at 297.0 yen ($2.44) per kg,
Chicago Board of Trade rough rice futures ended firm on Wednesday on a technical bounce from Tuesday's weakness but trade was light, traders said. July rice ended 1-1/2 cent per hundredweight higher at $10.27, with the back months were up 3 to 4 cents.
Oil prices rose further above $70 a barrel on Thursday on worries over Iran's nuclear dispute with the West and thin gasoline stockpiles in the United States ahead of peak summer demand. Benchmark London Brent crude was up 30 cents at $70.90 a barrel, a f
Analysts revised down on Thursday Ukraine's 2007 wheat crop forecast to between 16 and 17 million tonnes from the previous outlook of 17.7 million due to severe drought gripping the country in April and May. They said any further decline in the harvest co
Malaysian tin slipped 0.3 percent on Thursday, tracking lower prices on London Metal Exchange but losses were limited by Japanese buying, one dealer said.
Gold crept up but stayed on the defensive on Thursday, pressured by technical selling after it failed to break an important chart level, with funds also keen to sell given the dollar's strength. Gold moved in a tight range ahead of data on US durable good
A weaker dollar against the euro and higher oil prices sent US gold futures to a firmer finish on Wednesday, but reduced physical buying from India could hinder the precious metal's upside, analysts said. Most-active gold for June delivery on the Comex di
US copper futures settled mixed on Wednesday, with the front end of the curve drifting to a weaker close, as worries over slowing Chinese demand and a softer technical picture kept prices on the defensive, traders said.
Shanghai copper rose more than 1 percent on Thursday, tracking a recovery in London futures in post-outcry trading. Shanghai August copper was up 720 yuan or 1.2 percent from the previous close at 62,940 yuan ($8,225) a tonne. Copper for delivery in three
US arabica coffee futures ended modestly higher on Wednesday as the market looked for direction after the risk of frost in No 1 grower Brazil slipped away and origin sellers sat on the sidelines, traders said.
US cocoa futures jumped to close up 2.6 percent on Wednesday, off a fresh five-week high on support from firm sterling and speculative and fund-type buying that triggered stops, traders said. "Origin selling was not there today to put a cap on the first l
Spring wheat futures at the Minneapolis Grain Exchange closed quietly higher on Wednesday on a bounce from Tuesday's fall to one-month lows, traders said. The Chicago and Kansas City wheat markets were higher as well, rebounding in a light correction afte
Certificated cotton stocks deliverable against New York Board of Trade's (NYBOT) No 2 cotton futures contract as of May 22 totalled 705,387 (480-lb) bales, from 705,621 bales the previous session. There were 1,332 bales issued, 3,596 bales were awaiting r
Lethargic conditions prevailed in the lint market throughout this week and sales of only about 5,000 bales were reported. Ginners are still said to possess about 250,000 bales of unsold cotton from the current season (2006-07).
Lethargic conditions prevailed in the lint market throughout this week and sales of only about 5,000 bales were reported. Ginners are still said to possess about 250,000 bales of unsold cotton from the current season (2006-07).
US Plains hard red winter wheat basis bids held mostly steady Thursday with the market in limbo awaiting the full onset of harvest. One Oklahoma location did back off the basis by 4 cents a bushel, but otherwise the basis was flat.
Lean business was seen on the cotton market on Thursday as most of the mills were anticipating that prices of inferior type to depict soft trend, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2650, without upcou
Easier trend was seen on the cottonseed oilcake market on Thursday as most of the buyers kept on the sidelines despite easy supply position, dealers said. The May vaida failed to retain its firmness, showing 50 paisa loss at opening at Rs 643.00 which pro
Soft red winter wheat futures on the Chicago Board of Trade closed higher on Wednesday in a light technical rebound after Tuesday's drop to one-month lows, traders said. Additional support came from news that Pakistan suspended wheat exports on Wednesday
Chicago Board of Trade corn futures closed mostly higher Wednesday as prices seesaw, keeping within recent ranges, traders said. The market bounced early after Tuesday's lower close then faded as fears about dryness in the eastern US Corn Belt dissipated.
Thin trading was seen on the grain market on Thursday as most of the buyers kept on the sidelines due to balanced demand and supply position, dealers said. A solo deal was witnessed on the grams side as bajra prices rose sharply by Rs 125 to Rs 1325.
French wheat futures set fresh highs on Thursday and have now risen by one-fifth since the start of April on worries about this year's European harvest, traders said. "The market is testing highs after the recent pause. There is no real new fundamental be
Spot basis bids for corn were mostly unchanged around the interior US Midwest on Wednesday while soyabean bids were steady to weak due to good supplies at processors and elevators, grain dealers said. Along rivers, corn bids fell due to retreating CIF val
The Karachi Port handled 66,225 tonnes cargo including 36,373 tonnes import, 29,852 tonnes export cargo and 4,380 containers (TEUs) during last 24 hours ending at 0700 hours on Thursday.
Winnipeg Commodity Exchange canola futures reached new contract highs for the second consecutive session on Wednesday on crusher and exporter buying, traders said. Canola settled steady to $5.20 per tonne higher, with July up $3.10 at $379.50 and November
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
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 stock of debt of the federal government from the banking system continues to rise in the current year in the hope that counter rupee generated from inflow of expected dollar loans and forthcoming forex bond issue flotation would retire this debt and a
The stock of debt of the federal government from the banking system continues to rise in the current year in the hope that counter rupee generated from inflow of expected dollar loans and forthcoming forex bond issue flotation would retire this debt and a
The stock of debt of the federal government from the banking system continues to rise in the current year in the hope that counter rupee generated from inflow of expected dollar loans and forthcoming forex bond issue flotation would retire this debt and a
The stock of debt of the federal government from the banking system continues to rise in the current year in the hope that counter rupee generated from inflow of expected dollar loans and forthcoming forex bond issue flotation would retire this debt and a
Country's largest financial conglomerate, Pakistan Industrial Credit and Investment Corporation (Picic) has been sold. Considered to be the biggest deal amounting to US $350 million being the sale proceeds of Picic was approved by NIB bank and Tamasic Gro
Country's largest financial conglomerate, Pakistan Industrial Credit and Investment Corporation (Picic) has been sold. Considered to be the biggest deal amounting to US $350 million being the sale proceeds of Picic was approved by NIB bank and Tamasic Gro
Country''s largest financial conglomerate, Pakistan Industrial Credit and Investment Corporation (Picic) has been sold. Considered to be the biggest deal amounting to US $350 million being the sale proceeds of Picic was approved by NIB bank and Tamasic Gr
The National Assembly standing committee on privatisation has strongly opposed National Investment Trust (NIT) sell-off and asked the Privatisation Commission to have a second look on its policy towards this key institution.
The National Assembly standing committee on privatisation has strongly opposed National Investment Trust (NIT) sell-off and asked the Privatisation Commission to have a second look on its policy towards this key institution.
The government has suspended the export of gram pulse with immediate effect to check price hike in domestic market, Prime Minister Shaukat Aziz announced on Thursday. The Prime Minister was talking to media persons after chairing a special meeting to revi
The KSE-100 index has reached its all-time high level and finally settled at its highest ever record level of 12,663.41 points with net gain of 167.24 points on Thursday on the back of strong fundamentals, political stability and fresh foreign investment
The KSE-100 index has reached its all-time high level and finally settled at its highest ever record level of 12,663.41 points with net gain of 167.24 points on Thursday on the back of strong fundamentals, political stability and fresh foreign investment
On Thursday, BRIndex30 opened in the positive zone at 13,918.19 with a positive gap of 93.9 points. It closed at 14,101.37, registered a net positive change of 276.98 points and percentage change of 2.00. The BRIndex30 made an intra-day high of 14,115.83
On Thursday, BRIndex30 opened in the positive zone at 13,918.19 with a positive gap of 93.9 points. It closed at 14,101.37, registered a net positive change of 276.98 points and percentage change of 2.00. The BRIndex30 made an intra-day high of 14,115.83
Former Prime Minister and veteran Muslim Leaguer, Mir Zafarullah Khan Jamali, has called upon the government and opposition to sit together for the sake of Pakistan. Talking to a select group of newsmen during his visit to the office of Pakistan Hockey Fe
The federal government has imposed restrictions on government employees becoming members of foreign sponsored associations or clubs, suspecting that efforts might be afoot to collect secret information about sensitive areas of Pakistan, official sources t