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May 15, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2007-08-02
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

If nobody stops me being a bit cynical, I would say politics in Pakistan has always been beleaguered. But it was never in the wildest of my dream that the situation could go to such an extent. In fact, no body could have predicted it even a few years ago.
Published 02 Aug, 2007 12:00am
Documentation: FBR to obtain CNG stations list from Ogra

Documentation: FBR to obtain CNG stations list from Ogra

The Federal Board of Revenue (FBR) has approached Oil and Gas Regulatory Authority (Ogra) for obtaining list of all CNG stations for documentation of this sector. Sources told Business Recorder on Wednesday the collection of sales tax from CNG stat
Published 02 Aug, 2007 12:00am
Documentation: FBR to obtain CNG stations list from Ogra

Documentation: FBR to obtain CNG stations list from Ogra

The Federal Board of Revenue (FBR) has approached Oil and Gas Regulatory Authority (Ogra) for obtaining list of all CNG stations for documentation of this sector. Sources told Business Recorder on Wednesday the collection of sales tax from CNG stat
Published 02 Aug, 2007 12:00am
Documentation: FBR to obtain CNG stations list from Ogra

Documentation: FBR to obtain CNG stations list from Ogra

The Federal Board of Revenue (FBR) has approached Oil and Gas Regulatory Authority (Ogra) for obtaining list of all CNG stations for documentation of this sector. Sources told Business Recorder on Wednesday the collection of sales tax from CNG stat
Published 02 Aug, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (July 11, 2007).

Published 02 Aug, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (July 11, 2007).

Published 02 Aug, 2007 12:00am
Rs 15.35 billion projects for LEAs capacity building: Sherpao

Rs 15.35 billion projects for LEAs capacity building: Sherpao

The Minister for Interior Aftab Ahmad Khan Sherpao informed the National Assembly on Wednesday that the government has started projects for enhancing capacity of Law Enforcement Agencies (LEAs) to curb terrorism, at an estimated cost of Rs 15.35 billion.
Published 02 Aug, 2007 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (July 11, 2007).

Published 02 Aug, 2007 12:00am
July tax collection up by Rs four billion

July tax collection up by Rs four billion

The Federal Board of Revenue (FBR) has collected Rs 49.1 billion during July 2007 against the target of Rs 45.1 billion, showing an increase of Rs 4 billion. According to the provisional figures (up to July 31) released on Wednesday, direct taxes collecti
Published 02 Aug, 2007 12:00am
Board-in-council approves audit plan

Board-in-council approves audit plan

Board-in-council has approved the National Audit Plan and National Audit Manual drafted by the international audit expert. Sources told Business Recorder on Wednesday that the World Bank (WB) funded foreign consultant presented the new audit plan b
Published 02 Aug, 2007 12:00am
Commecs gets degree awarding status

Commecs gets degree awarding status

Commecs Institute of Business and Emerging Sciences (CIBES) established in 1993 is run by a group of committed philanthropists under the Commecs Educational Trust-a "not-for-profit" organisation, which is also certified for quality standards in internal g
Published 02 Aug, 2007 12:00am
DHA starts Rs 140 million project

DHA starts Rs 140 million project

The Defence Housing Authority (DHA) Islamabad has started construction work on Rs 140 million Sewage Water Treatment Plant. The project would be completed an allocated period of 15 months period. Malaysian High Commissioner Ahmed Shahnazan and Vice Presid
Published 02 Aug, 2007 12:00am
JCR-VIS reaffirms AAA rating of Security Papers Limited

JCR-VIS reaffirms AAA rating of Security Papers Limited

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the medium to long-term entity rating of AAA (Triple A) and short-term rating of A-1+ (A one Plus) assigned to Pakistan Security Printing Corporation (Pvt) Ltd (PSPC).
Published 02 Aug, 2007 12:00am
JCR-VIS reaffirms AAA rating of Security Papers Limited

JCR-VIS reaffirms AAA rating of Security Papers Limited

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the medium to long-term entity rating of AAA (Triple A) and short-term rating of A-1+ (A one Plus) assigned to Pakistan Security Printing Corporation (Pvt) Ltd (PSPC).
Published 02 Aug, 2007 12:00am
PSO to buy 33,000 tonnes jet fuel

PSO to buy 33,000 tonnes jet fuel

Pakistan State Oil Company Ltd is tendering to buy 33,000 tonnes of jet fuel for delivery from late August to October, up from the 22,000 tonnes bought previously, said a senior company official on Wednesday. PSO requested the first cargo for delivery int
Published 02 Aug, 2007 12:00am
New FST chairman in a couple of days

New FST chairman in a couple of days

The Federal Government has informed the Supreme Court that the vacant post of the Chairman Federal Services Tribunal would be filled in a couple of days. A three-member full bench of the Supreme Court headed by the Chief Justice Iftikhar Mohammad Chaudhry
Published 02 Aug, 2007 12:00am
New FST chairman in a couple of days

New FST chairman in a couple of days

The Federal Government has informed the Supreme Court that the vacant post of the Chairman Federal Services Tribunal would be filled in a couple of days. A three-member full bench of the Supreme Court headed by the Chief Justice Iftikhar Mohammad Chaudhry
Published 02 Aug, 2007 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

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
Published 02 Aug, 2007 12:00am
Treasury bills yields rise

Treasury bills yields rise

Yields on Treasury Bills rose at an auction on Wednesday, a day after the State Bank of Pakistan announced it was increasing its key discount rate to 10.0 percent from 9.5 percent.
Published 02 Aug, 2007 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

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
Published 02 Aug, 2007 12:00am
Treasury bills yields rise

Treasury bills yields rise

Yields on Treasury Bills rose at an auction on Wednesday, a day after the State Bank of Pakistan announced it was increasing its key discount rate to 10.0 percent from 9.5 percent.
Published 02 Aug, 2007 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (August 01, 2007).

Published 02 Aug, 2007 12:00am
Treasury bills yields rise

Treasury bills yields rise

Yields on Treasury Bills rose at an auction on Wednesday, a day after the State Bank of Pakistan announced it was increasing its key discount rate to 10.0 percent from 9.5 percent.
Published 02 Aug, 2007 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Wednesday (August 01, 2007).

Published 02 Aug, 2007 12:00am
Treasury bills yields rise

Treasury bills yields rise

Yields on Treasury Bills rose at an auction on Wednesday, a day after the State Bank of Pakistan announced it was increasing its key discount rate to 10.0 percent from 9.5 percent.
Published 02 Aug, 2007 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Wednesday (August 01, 2007).

Published 02 Aug, 2007 12:00am
New FST chairman in a couple of days

New FST chairman in a couple of days

The Federal Government has informed the Supreme Court that the vacant post of the Chairman Federal Services Tribunal would be filled in a couple of days. A three-member full bench of the Supreme Court headed by the Chief Justice Iftikhar Mohammad Chaudhry
Published 02 Aug, 2007 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Wednesday (August 01, 2007).

Published 02 Aug, 2007 12:00am
July tax collection up by Rs four billion

July tax collection up by Rs four billion

The Federal Board of Revenue (FBR) has collected Rs 49.1 billion during July 2007 against the target of Rs 45.1 billion, showing an increase of Rs 4 billion. According to the provisional figures (up to July 31) released on Wednesday, direct taxes collecti
Published 02 Aug, 2007 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (August 01, 2007).

Published 02 Aug, 2007 12:00am
July tax collection up by Rs four billion

July tax collection up by Rs four billion

The Federal Board of Revenue (FBR) has collected Rs 49.1 billion during July 2007 against the target of Rs 45.1 billion, showing an increase of Rs 4 billion. According to the provisional figures (up to July 31) released on Wednesday, direct taxes collecti
Published 02 Aug, 2007 12:00am
KKI closing rates of currency notes

KKI closing rates of currency notes

Khanani & Kalia International (Pvt) Limited Closing Rates of currency notes on Wednesday (August 01, 2007).

Published 02 Aug, 2007 12:00am
New York cocoa settles firm

New York cocoa settles firm

US cocoa settled firm on Tuesday, on support from the London market after dipping to a seven-week low on pressure from speculative liquidation, traders said. "I think (there's) more attention on London," one trader said, calling the New York session routi
Published 02 Aug, 2007 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 68.50/68.50 (previous 68.50/68.52). Call Money Rates: 6.50-10.00 percent (previous 6.50-10.00 percent.
Published 02 Aug, 2007 12:00am
Australian dollar falls

Australian dollar falls

The Australian dollar fell more than 1 percent on Wednesday on a slump in regional bourses after another Wall Street tumble, and after volatile credit markets hit two funds managed by Australia's biggest investment bank.
Published 02 Aug, 2007 12:00am
Asian currencies: rupiah tumbles as risk aversion flares

Asian currencies: rupiah tumbles as risk aversion flares

The high-yielding Indonesian rupiah fell more than 1 percent on Wednesday, leading the declines in Asian currencies as investors shunned riskier assets amid fears of a further deterioration in US credit markets.
Published 02 Aug, 2007 12:00am
South Korea won at one-month low on risk aversion

South Korea won at one-month low on risk aversion

The South Korean won hit a one-month low against the dollar and its weakest in 16 weeks versus the yen as growing concerns over credit markets dampened investors' appetite for risky assets. The won at one point during a hectic session fell as much as 0.7
Published 02 Aug, 2007 12:00am
Yen rises as US stocks fall amid credit worries

Yen rises as US stocks fall amid credit worries

The yen rose on Tuesday as growing worries about a deterioration in US credit markets pushed stock prices lower and prompted traders to unwind risky trades financed with the Japanese currency.
Published 02 Aug, 2007 12:00am
Yen holds gains versus dollar

Yen holds gains versus dollar

The yen hovered near a three-month high against the dollar on Wednesday as fears of a deterioration in US credit markets and falls in equities markets prompted investors to cut back on risky carry trades.
Published 02 Aug, 2007 12:00am
Philippines shares end down

Philippines shares end down

Philippines share prices closed 2.1 percent lower on Wednesday amid fresh concerns about problems in the US home loans market which pushed Wall Street down sharply overnight, dealers said. The US worries have overshadowed the positive outlook for the Phil
Published 02 Aug, 2007 12:00am
Nikkei hits four-month low

Nikkei hits four-month low

The Nikkei average tumbled 2.19 percent to hit its lowest close since mid-March on Wednesday, hit by worries about a spreading credit crunch and dragged down by TDK Corp, which fell on sharply lower profit. The broader TOPIX index also declined 2.19 perce
Published 02 Aug, 2007 12:00am
Jakarta shares slump

Jakarta shares slump

Jakarta share prices closed 3.9 percent lower on Wednesday in line with other markets in the region in reaction to Wall Street's slide sparked by fresh housing and credit concerns, dealers said. Key losers included index heavyweight Telkom and major banki
Published 02 Aug, 2007 12:00am
Singapore shares drop

Singapore shares drop

Singapore share prices skidded 3.27 percent on Wednesday as concerns over the troubled US sub-prime mortgage market spooked investors, dealers said. The Straits Times Index dropped 115.95 points to 3,431.71 on volume of 4.94 billion shares worth 4.31 bill
Published 02 Aug, 2007 12:00am
Taiwan stocks end with biggest loss

Taiwan stocks end with biggest loss

Taiwan shares ended 4.26 percent lower on Wednesday, their biggest drop in more than three years, as selling of blue chip firms such as TSMC intensified after credit concerns and US subprime mortgage woes sparked an equities sell-off.
Published 02 Aug, 2007 12:00am
US bonds jump as stock market weakens

US bonds jump as stock market weakens

US government bond prices climbed on Tuesday, taking direction from weaker stocks on continued concerns that a housing market slump and deteriorating credit conditions could crimp economic growth. Bonds have been closely mirroring stocks recently, gaining
Published 02 Aug, 2007 12:00am
US bonds jump as stock market weakens

US bonds jump as stock market weakens

US government bond prices climbed on Tuesday, taking direction from weaker stocks on continued concerns that a housing market slump and deteriorating credit conditions could crimp economic growth. Bonds have been closely mirroring stocks recently, gaining
Published 02 Aug, 2007 12:00am
Thai shares fall

Thai shares fall

Thai share prices lost 3.06 percent on Wednesday in the biggest one-day drop in seven months as worries over US sub-prime mortgage loans spread to hit markets across the region, dealers said. They said foreign investors dumped shares across-the-board in p
Published 02 Aug, 2007 12:00am
US stocks slip

US stocks slip

US stocks tumbled on Tuesday as worries about the deteriorating credit market resurfaced with news of another mortgage lending casualty. Stocks had risen Monday and the first half of Tuesday's session, but the relief rally was cut short when American Home
Published 02 Aug, 2007 12:00am
Hong Kong stocks decline

Hong Kong stocks decline

Hong Kong stocks dived 3.15 percent on Wednesday with panic-selling boosting the day's turnover to a record high as investors fled markets globally, spooked by the spectre of a spreading credit crunch. Markets from Tokyo to London fell sharply. Reflecting
Published 02 Aug, 2007 12:00am
Indian shares plunge 3.96 percent

Indian shares plunge 3.96 percent

Indian share prices plunged 3.96 percent on Wednesday on higher cash reserve amounts for banks and fears that overseas funds may exit emerging markets over US credit woes, dealers said. They said that overseas funds led the sell-off sparked by heavy losse
Published 02 Aug, 2007 12:00am
Malaysian shares tumble

Malaysian shares tumble

Malaysian share prices closed 2.5 percent lower on Wednesday due to the troubled US sub-prime mortgage market that sent shock waves through global markets, dealers said. They said investors are concerned that problems within the US sub-prime mortgage mark
Published 02 Aug, 2007 12:00am
India's NALCO to float alumina sale tenders

India's NALCO to float alumina sale tenders

India's state-run National Aluminium Co Ltd will float long-term alumina sale tenders for about 270,000 tonnes each in September and December, its chairman said on Tuesday.
Published 02 Aug, 2007 12:00am
Ecuador economic growth slows

Ecuador economic growth slows

Ecuador's economic growth slowed to 1.17 percent in the first quarter from 5.9 percent in the same period a year earlier as a weaker oil sector performance cut into its expansion, the central bank said on Tuesday.
Published 02 Aug, 2007 12:00am
IMF says Zimbabwe inflation may hit 100,000 percent

IMF says Zimbabwe inflation may hit 100,000 percent

Prices in Zimbabwe could be 1,000 times higher at the end of this year than they were at the beginning, the IMF predicted on Tuesday. Once the breadbasket of southern Africa, Zimbabwe's economy is crippled by acute food, fuel and foreign currency shortage
Published 02 Aug, 2007 12:00am
BMCE lures lenders with $480 million Senegal airport deal

BMCE lures lenders with $480 million Senegal airport deal

A Moroccan bank hopes to unlock private funding for crucial infrastructure in Africa through innovative deals such as an air ticket surcharge to help finance Senegal's new 350 million euro ($480 million) airport.
Published 02 Aug, 2007 12:00am
Polish rates to rise till mid-2008

Polish rates to rise till mid-2008

Polish interest rates will rise at least until mid-2008 as the labour market continues to pose inflation risks, and a new threat may emerge from a possible currency sell-off, a rate-setter said on Tuesday.
Published 02 Aug, 2007 12:00am
Waste Management sees money in methane

Waste Management sees money in methane

Waste Management Inc sees plants that convert landfill gas, or methane, to energy as a future source of revenue sufficiently significant to warrant separate reporting, its top executive said on Tuesday.
Published 02 Aug, 2007 12:00am
Guardian Media looking at Emap assets

Guardian Media looking at Emap assets

Britain's Guardian Media Group is considering whether to pitch for businesses being sold by media group Emap Plc, Guardian Chief Executive Carolyn McCall said on Wednesday. "We will keep that under review. They have a lot of interesting assets," McCall to
Published 02 Aug, 2007 12:00am
BASF upbeat after second quarter meets forecast

BASF upbeat after second quarter meets forecast

BASF posted a 6 percent rise in quarterly profit on Wednesday after strong demand and higher prices for its products helped offset weakness at its oil and gas unit because of lower oil prices.
Published 02 Aug, 2007 12:00am
BASF upbeat after second quarter meets forecast

BASF upbeat after second quarter meets forecast

BASF posted a 6 percent rise in quarterly profit on Wednesday after strong demand and higher prices for its products helped offset weakness at its oil and gas unit because of lower oil prices.
Published 02 Aug, 2007 12:00am
Sanofi profits fall short as generic drugs hit

Sanofi profits fall short as generic drugs hit

French pharmaceuticals group Sanofi-Aventis said on Wednesday second-quarter adjusted net profit fell 6.3 percent - more than analysts had expected - as generic competition and a strong euro hit sales.
Published 02 Aug, 2007 12:00am
Sanofi profits fall short as generic drugs hit

Sanofi profits fall short as generic drugs hit

French pharmaceuticals group Sanofi-Aventis said on Wednesday second-quarter adjusted net profit fell 6.3 percent - more than analysts had expected - as generic competition and a strong euro hit sales.
Published 02 Aug, 2007 12:00am
Chile industrial output speeds up in healthy economy

Chile industrial output speeds up in healthy economy

Chile's industrial output grew at its fastest rate in over a year in June, government figures showed on Tuesday, potentially setting up a new central bank rate hike in the coming months.
Published 02 Aug, 2007 12:00am
Margin worries, drinks sale uncertainty hit Cadbury

Margin worries, drinks sale uncertainty hit Cadbury

Cadbury, the world's biggest confectionery maker, reported a drop in first-half profitability amid rising dairy prices and said the sale of its North American soft drinks business was still in the balance.
Published 02 Aug, 2007 12:00am
Metro second quarter operating income down

Metro second quarter operating income down

Metro's second-quarter operating profit fell in line with analysts' expectations as Germany's biggest retailer spent money restructuring its food division.
Published 02 Aug, 2007 12:00am
Metro second quarter operating income down

Metro second quarter operating income down

Metro's second-quarter operating profit fell in line with analysts' expectations as Germany's biggest retailer spent money restructuring its food division.
Published 02 Aug, 2007 12:00am
Gasoline expensive for drivers, some sign of relief

Gasoline expensive for drivers, some sign of relief

High crude oil prices mean gasoline is expensive for motorists but the fuel has lagged behind oil's gains and in some countries has even become cheaper as peak summer demand nears an end, a Reuters poll showed.
Published 02 Aug, 2007 12:00am
Paulson sees subprime woes contained, yuan resistance

Paulson sees subprime woes contained, yuan resistance

US Treasury Secretary Henry Paulson said on Wednesday the repricing of credit risk was hitting financial markets, but US subprime mortgage fallout remained largely contained due to the strongest global economy in decades.
Published 02 Aug, 2007 12:00am
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