The Economic Coordination Committee (ECC) of the cabinet is scheduled to meet on Thursday (today) and is likely to approve 6 percent Research and Development (R&D) support for leather garments and raise the support to textile garments sector from 3 percen
The Economic Coordination Committee (ECC) of the cabinet is scheduled to meet on Thursday (today) and is likely to approve 6 percent Research and Development (R&D) support for leather garments and raise the support to textile garments sector from 3 percen
The Economic Coordination Committee (ECC) of the cabinet is scheduled to meet on Thursday (today) and is likely to approve 6 percent Research and Development (R&D) support for leather garments and raise the support to textile garments sector from 3 percen
The Central Board of Revenue (CBR) has not incorporated necessary changes in the Duty and Tax Remission for Export (DTRE) scheme on adoption of HS-Code 2007, creating hurdles in smooth clearance of consignments under the Pakistan Customs Computerised Syst
The Central Board of Revenue (CBR) has not incorporated necessary changes in the Duty and Tax Remission for Export (DTRE) scheme on adoption of HS-Code 2007, creating hurdles in smooth clearance of consignments under the Pakistan Customs Computerised Syst
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 Central Board of Revenue (CBR) has not incorporated necessary changes in the Duty and Tax Remission for Export (DTRE) scheme on adoption of HS-Code 2007, creating hurdles in smooth clearance of consignments under the Pakistan Customs Computerised Syst
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
Chairman Securities and Exchange Commission of Pakistan (SECP) Raziur Rehman Khan has said that penalties have been substantially enhanced through Finance Bill 2007-2008 to improve governance in the corporate sector ensuring compliance by the registered c
Chairman Securities and Exchange Commission of Pakistan (SECP) Raziur Rehman Khan has said that penalties have been substantially enhanced through Finance Bill 2007-2008 to improve governance in the corporate sector ensuring compliance by the registered c
Chairman Securities and Exchange Commission of Pakistan (SECP) Raziur Rehman Khan has said that penalties have been substantially enhanced through Finance Bill 2007-2008 to improve governance in the corporate sector ensuring compliance by the registered c
US FOB Gulf corn basis offers rose sharply on Tuesday on purchases by South Korea and price inquiries from Japan, traders said. Soyabean basis offers were steady to lower in a market seeing little export demand due to cheaper prices in South America.
The relief goods including blankets, tents, food items and medicines were flown to Quetta late evening by a C-130 aircraft for further disbursement to respective areas of Balochistan.
The Karachi Port handled 110,090 tonnes cargo including 75,711 tonnes import, 34,379 tonnes export cargo and 3,989 containers (TEUs) during last 24 hours ending at 0700 hours on Wednesday.
The relief goods including blankets, tents, food items and medicines were flown to Quetta late evening by a C-130 aircraft for further disbursement to respective areas of Balochistan.
US Plains hard red winter wheat basis bids were mostly steady on Wednesday with rain delays continuing to frustrate farmers in many areas of the Plains, wheat merchants said. Yields and quality reports continued to be variable.
The rescuers struggled on Wednesday to reach 250,000 people left homeless, and in some cases clinging to rooftops and trees, by a cyclone that lashed the coast and killed 21 people. Cyclone Yemyin roared in from the Arabian Sea on Tuesday, days after thun
Spot basis bids for corn rose at processors and grain elevators around the US Midwest on Tuesday due to slow farmer selling in recent weeks, grain dealers said. Cash bids for soyabeans and wheat were mostly unchanged.
The rescuers struggled on Wednesday to reach 250,000 people left homeless, and in some cases clinging to rooftops and trees, by a cyclone that lashed the coast and killed 21 people. Cyclone Yemyin roared in from the Arabian Sea on Tuesday, days after thun
Indian sugar futures rose more than one percent on Wednesday, a day after the government extended by six months a non-cash incentive to help mills boost exports, analysts said. At 0940 GMT (3.10 pm local time), the July contract on the National Commodity
Punjab irrigation department has declared emergency and taken precautionary steps such as closing of some canals to cope up with the possible flood like situation in the watercourses during the current heavy rains in the province, it was learnt on Wednesd
Indian soyaoil futures rose by more than 0.6 percent on Wednesday due to short covering, analysts said. They had closed down in the last five sessions. However, weak crude palm oil futures on the Malaysian market may limit gains, the analysts added.
The cement price went down to Rs 210 per bag after a reduction of Rs 20 to Rs 25 during the last few days. According to private TV channel the cement exports to Afghanistan has considerably dwindled during the last two weeks, due to the lack of transport.
Indonesian palm oil prices eased on Tuesday in line with weakening Malaysian crude palm oil futures as buyers retreated to the sidelines to see if the fall would continue. The state marketing centre in Jakarta, which sells palm oil from state plantations,
The cement price went down to Rs 210 per bag after a reduction of Rs 20 to Rs 25 during the last few days. According to private TV channel the cement exports to Afghanistan has considerably dwindled during the last two weeks, due to the lack of transport.
Winnipeg Commodity Exchange canola futures were mainly higher on Tuesday following stronger US markets despite a Statistics Canada report that pegged canola area above expectations, traders said. Canola settled $1 per tonne higher to 50 cents lower, with
The cement price went down to Rs 210 per bag after a reduction of Rs 20 to Rs 25 during the last few days. According to private TV channel the cement exports to Afghanistan has considerably dwindled during the last two weeks, due to the lack of transport.
Kenyan tea prices firmed at this week's sale and market players expected prices to improve over the next three months as auction volumes drop. The Mombasa-based Africa Tea Brokers said there was good demand for the 130,030 packages offered at the main sal
The Ministry of Petroleum and Natural Resources has recommended allocation of additional 125 mmcfd gas from Manzalai (NWFP) to SNGPL and 8 mmcfd from Bobi field to SSGCL, respectively, official sources told Business Recorder.
Hard red winter wheat futures on the Kansas City Board of Trade ended sharply higher on Tuesday, buoyed by reminders of short world wheat supplies, a drop in US wheat condition ratings, India's tender to import 1 million tonnes of wheat, and strength in s
The Ministry of Petroleum and Natural Resources has recommended allocation of additional 125 mmcfd gas from Manzalai (NWFP) to SNGPL and 8 mmcfd from Bobi field to SSGCL, respectively, official sources told Business Recorder.
Soft red winter wheat futures at the Chicago Board of Trade soared 3 percent on Tuesday on a big drop in Canadian wheat plantings and on declining US spring and winter wheat ratings, traders said.
The Ministry of Petroleum and Natural Resources has recommended allocation of additional 125 mmcfd gas from Manzalai (NWFP) to SNGPL and 8 mmcfd from Bobi field to SSGCL, respectively, official sources told Business Recorder.
The July vaida was unchanged while the December vaida was lower on the forward cottonseed oilcake market on Wednesday as buyers showed less interest in the new deals, brokers said. The July vaida was unchanged at Rs 650.00 and closing was seen at the same
The Pakistan Bar Council (PBC) and the Supreme Court Bar Association (SCBA) have cancelled the tea party in honour of Chief Justice Iftikhar Mohammad Chaudhry in the Supreme Court Bar Room on Thursday (today) so that proceedings of the Full Supreme Court
Not a single deal was reported on Wednesday as the continuous rains and heavy floods played havoc in some parts of the country, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2600, they added.
The Pakistan Bar Council (PBC) and the Supreme Court Bar Association (SCBA) have cancelled the tea party in honour of Chief Justice Iftikhar Mohammad Chaudhry in the Supreme Court Bar Room on Thursday (today) so that proceedings of the Full Supreme Court
Little business was seen on the grain market on Wednesday as most of the buyers were on the sidelines being least interested in the fresh deals, dealers said.
Pakistan has shown its willingness to offer commercial guarantee as an alternative to sovereign one in Iran-Pakistan-India (IPI) working group meeting, scheduled for June 28-29 in New Delhi.
Spring wheat futures on the Minneapolis Grain Exchange settled sharply higher on Tuesday, reaching new 11-year highs on a big drop in Canadian wheat plantings, traders said. Declining US spring wheat ratings added support.
Pakistan has shown its willingness to offer commercial guarantee as an alternative to sovereign one in Iran-Pakistan-India (IPI) working group meeting, scheduled for June 28-29 in New Delhi.
The US arabica coffee closed mostly higher with modest gains on Tuesday, consolidating in light trade after falling to a five-week low Monday, traders said. Some participants sat on the sidelines ahead of the government price-support auction for 4 million
Pakistan has shown its willingness to offer commercial guarantee as an alternative to sovereign one in Iran-Pakistan-India (IPI) working group meeting, scheduled for June 28-29 in New Delhi.
US cocoa futures surged ahead to a 4-1/4 year high as speculative buying and a lack of selling interest triggered buy-stops, dealers said. "We just saw some fund and spec buying here today," one trader said. "It's mainly technicals right now, no real news
US copper futures lost 2.4 percent of their value by the close on Tuesday, as sentiment took a hit amid a broader sell-off in the metals complex, analysts said. "Silver had a sharp decline in a technical breakdown and gold hit multi-month lows, so that se
US silver futures tumbled to their lowest levels in six months in early trade on Tuesday, with chart-based selling and options expiration keeping the precious metal on the defensive, floor dealers said.
Gold on Wednesday hit its lowest level in more than three months and silver touched its lowest in more than five months as risk-averse investors hurried to unwind yen carry trades, while a stronger yen pressured Tokyo precious metals futures.
Rough rice futures at the Chicago Board of Trade ended slightly lower Tuesday, recovering from an early sell-off when prices fell roughly 35 cents per hundredweight, traders said.
Oil steadied near $70 a barrel on Wednesday, as US crude inventories were forecast to balloon to a fresh nine-year high and gasoline stockpiles were seen rising as refiners boosted output. London Brent crude, currently seen as the best benchmark for globa
Shanghai copper tumbled by its four percent daily limit on Wednesday, following losses in London in the wake of weak US economic data and downbeat chart readings. The most-active September copper contract on the Shanghai Futures Exchange dropped by 2,520
Rice sales in Vietnam slowed in the past week on thinning supply and a shortage of ships for new export cargoes, traders said on Wednesday. "The stock available for export is very limited right now and most of the supply in the warehouses has already been
Raw sugar futures closed sharply higher on Tuesday on continued July/September switching ahead of the front month's Friday expiration and on speculative buying, brokers said.
Soybean futures at the Chicago Board of Trade rose on Tuesday on spill-over strength from the wheat rally, traders said. Worries about a high pressure ridge moving into the US Midwest next week, creating drier crop growing conditions gave the market an ea
Tokyo rubber futures slumped to a three-month low on Wednesday, dragged down by falling energy prices, and nervous about a move by US transportation officials to recall Chinese-made light truck tyres.
Malaysian crude palm oil futures fell 0.6 percent on Wednesday, extending losses since last week as lower prices of rival soyoil and expectations of swelling reserves due to weak demand weighed on the market.
Rupert Murdoch said he had no plans to raise his $5 billion bid for media group Dow Jones & Co Inc and expected final approval from the controlling Bancroft family within two to three weeks, "if at all."
Treasury Secretary Henry Paulson called on Wednesday for an overhaul of US capital markets regulation, saying reforms are needed to maintain American leadership.
Treasury Secretary Henry Paulson called on Wednesday for an overhaul of US capital markets regulation, saying reforms are needed to maintain American leadership.
Japanese retail sales unexpectedly rose in May from a year earlier, signalling a slight recovery in personal consumption and keeping intact market expectations that the Bank of Japan will raise rates as early as August.
Global mobile phone use will top 3.25 billion - equivalent to around half the world's population - in 2007 as cell phone demand booms in China, India and Africa, a survey said on Wednesday.
The United States accused the European Union on Wednesday of violating a newly signed "open skies" aviation agreement by proposing to include international airlines in the EU emissions trading scheme from 2012.
The European Commission on Wednesday blocked an attempt by Ryanair to acquire rival Irish carrier Aer Lingus, marking only the second merger prohibition by the EU executive in four years.
India, Brazil and other large developing countries "need to step up" in world trade talks and make the market-opening concessions needed to reach a deal, a top US official said on Wednesday.
France needs to keep on reforming its labour market and pensions and healthcare systems to lift growth and ensure the long-term sustainability of its public finances, the OECD said on Wednesday. The Paris-based think tank said French growth had lost its e
Zimbabwe President Robert Mugabe on Wednesday threatened to seize foreign companies, including mines, that have raised prices and cut output in an economic "dirty tricks" campaign to oust his government. Mugabe, 83, in power since independence in 1980, ac
New orders for long-lasting US-made manufactured goods tumbled a larger-than-expected 2.8 percent in May, raising doubts about the strength of the factory sector and business expansion plans.
Russian airline Aeroflot pulled out of the bidding for Alitalia on Wednesday, leaving Rome's auction of the unprofitable airline in danger of collapse with just two players left.
Bangladesh's foreign exchange reserves hit an all-time high of $5 billion on Wednesday, thanks to robust growth in money sent home by expatriate Bangladeshis and exports, a central bank official said.
Jet Airways, India's biggest domestic airline, said Tuesday its full-year profit had fallen sharply because of higher costs and slower growth in air traffic. The airline's net profit for the financial year to March 31 fell almost 95 percent to 279.4 milli
Brazil's government set an inflation target of 4.5 percent for 2009 on Tuesday, unchanged from previous years, heeding calls from President Luiz Inacio Lula da Silva to keep inflation under control but also stoke faster economic growth.
Abbott Laboratories Inc and Genentech Inc will collaborate to develop and eventually sell two Abbott cancer drugs now in early stages of human testing, the companies said on Tuesday.
China will offer a tax holiday to entice Chinese-owned, foreign-flagged ships to switch to carrying the Chinese flag, as a rising number of such ships in Chinese waters complicates rescue and maritime procedures.
Chile's jobless rate unexpectedly fell in the March-May period while May industrial production slowed more than forecast, sending mixed signals on the state of the economy, official figures showed on Wednesday.
Singapore's factory output rose a seasonally adjusted 4.0 percent in May, confounding market expectations for a fall, as oil rig sales and drugs production surged, data showed on Tuesday.
Continental, the German maker of tyres and car parts, expressed optimism Wednesday for its business outlook in the next few years and reaffirmed its interest in buying Siemens' auto parts unit VDO.
Hedge fund GLG Partners agreed to pay more than $3.2 million in fines after the US Securities and Exchange Commission found it had earned $2.2 million in illegal profits, the agency said on Tuesday.
Hedge fund GLG Partners agreed to pay more than $3.2 million in fines after the US Securities and Exchange Commission found it had earned $2.2 million in illegal profits, the agency said on Tuesday.
France's social security deficit could be the latest banana skin in the path of budget deficit reduction in the euro zone's second biggest economy. Paris's commitment to cutting its budget deficit is already seen at risk from planned tax breaks which are
Peru's exports grew 4.8 percent in May from the same month a year ago due to higher sales of copper and zinc, the government said on Tuesday, adding that China was the month's biggest consumer. Peruvian shipments abroad reached $2.04 billion in May, a hig
Mexico's peso weakened on Wednesday and stocks fell after a surprisingly sharp drop in US durable goods data added to concerns about growth in the US economy. The peso gave up 0.42 percent to 10.8750 per dollar, while the benchmark IPC stock index slipped
Philippine electronics exports can still expand by a targeted 10 percent in 2007 despite a disappointing performance in April and a drop in imports of parts, an industry group said on Tuesday.
Taiwan stocks fell 0.24 percent to a three-day closing low on Wednesday, weighed by losses in Cosmos Bank and other financial shares after a newspaper said financial regulators would probe the lender. The main TAIEX share index slid 21.53 points to 8,844.
Malaysian share prices closed 0.70 percent lower on Wednesday due to concerns that foreign funds may be pulling out of the local market due to the weaker ringgit, dealers said. They said trading volume was low and trading in key blue chips was relatively
Hong Kong blue chips fell 0.5 percent on Wednesday, tracking weak equity markets world-wide, as worries about the US subprime mortgage market weighed on global lender HSBC Holdings and lower crude prices prompted profit-taking in oil stocks.
US stocks closed down for a third session on Tuesday as higher bond yields raised concerns about borrowing costs and more fallout from the subprime mortgage market kept investors on edge.
US Treasury debt prices fell on Tuesday as reinvigorated bond bulls appeared satiated by two weeks of buying, but analysts said lingering problems in the housing sector should continue to bolster the market.
US Treasury debt prices fell on Tuesday as reinvigorated bond bulls appeared satiated by two weeks of buying, but analysts said lingering problems in the housing sector should continue to bolster the market.
Indian share prices closed 0.48 percent lower on Wednesday in line with global markets ahead of a monetary policy meeting of the US Federal Reserve, dealers said. They said sentiment was also cautious ahead of the expiry of the local monthly derivative co
Philippines share prices closed 1.91 percent down on Wednesday, with the key index hitting its lowest level in two weeks as investors took profits ahead of the US Federal Reserve's meeting on interest rates, dealers said.
Thai share prices closed 0.53 percent higher on Wednesday on speculative buying of big-cap banking stocks ahead of a US Federal Reserve decision on interest rates, dealers said.
The Nikkei average fell for the fourth straight session on Wednesday, marking its longest losing streak in more than three months, as exporters such as Canon Inc were hit by concerns about overseas markets and further rises in the yen.