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May 14, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-02-12
Air Chief calls on Soomro

Air Chief calls on Soomro

Caretaker Prime Minister Mohammedmian Soomro on Monday said the government would continue extending necessary support and resources to upgrade Pakistan Air Force to meet the country's future defence needs. The Prime Minister was talking to Chief of the Ai
Published 12 Feb, 2008 12:00am
ECO urged to work for technology driven growth

ECO urged to work for technology driven growth

Economic Co-operation Organisation (ECO) must work for technology driven growth encompassing all segments of the society to face the challenges of globalisation with greater knowledge, innovation and an enabling environment to achieve sustainable developm
Published 12 Feb, 2008 12:00am
Finance Ministry criticised for delaying release of funds

Finance Ministry criticised for delaying release of funds

The Senate Standing Committee on women's development came hard on the Finance Ministry for delaying release of the development funds. Speaking at the Committee meeting held on Monday, Tahira Latif, the Chair, blamed lengthy bureaucratic hurdles in release
Published 12 Feb, 2008 12:00am
Admission fees date extended

Admission fees date extended

The University of Sindh (SU) has extended last date up to February 23 for payment of admissions fees to higher classes by on rolls students for the session of 2008 here on Monday.
Published 12 Feb, 2008 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Monday (February 11, 2008).
Published 12 Feb, 2008 12:00am
PPP sends another veiled threat to Musharraf

PPP sends another veiled threat to Musharraf

Pakistan People's Party (PPP) has sent another veiled threat to struggling President Pervez Musharraf, who it blames was now manoeuvring through terror to either postpone again or manipulate parliamentary polls due next week. But the party, a top leader t
Published 12 Feb, 2008 12:00am
District nazims covertly active in campaign: CGEP report

District nazims covertly active in campaign: CGEP report

There is a widespread sense of insecurity among voters of Gujrat and district nazims of Sialkot and Gujrat belonging to Pakistan Muslim League Q are active in election campaign. . This has been stated in a report of the Fact Finding Mission of the Citizen
Published 12 Feb, 2008 12:00am
THE RUPEE: dollar scores all round gains

THE RUPEE: dollar scores all round gains

All round decline was seen in the currency market at the week-opening session as dollar was in demand by the importers to meet the payment requirement, dealers said. In the interbank market, the rupee lost nine paisa against dollar at 62.92 and 62.94 for
Published 12 Feb, 2008 12:00am
Erra's Rural Housing Programme near completion

Erra's Rural Housing Programme near completion

The partnership of Earthquake Reconstruction and Rehabilitation Authority (ERRA) with Pakistan Poverty Alleviation Fund (PPAF) vouches for the fact that we all stand united against the challenges posed by the aftermath of earthquake shook on October 8, 20
Published 12 Feb, 2008 12:00am
THE RUPEE: dollar scores all round gains

THE RUPEE: dollar scores all round gains

All round decline was seen in the currency market at the week-opening session as dollar was in demand by the importers to meet the payment requirement, dealers said. In the interbank market, the rupee lost nine paisa against dollar at 62.92 and 62.94 for
Published 12 Feb, 2008 12:00am
Railways imports 300 coaches worth $25 million

Railways imports 300 coaches worth $25 million

Pakistan Railways (PR) will purchase 300 new freight coaches at a cost of $25 million to improve its service, an official at the Ministry of Railways said Monday. The ministry has approved the PC-1 of the project that would be executed shortly.
Published 12 Feb, 2008 12:00am
Need for creating traffic rules awareness stressed

Need for creating traffic rules awareness stressed

The Deputy Inspector General of Punjab Highway Patrolling Police, Mian Muhammad Asif has said that adequate efforts are being made to streamline the traffic system for minimising the ratio of accidents on highways in the province.
Published 12 Feb, 2008 12:00am
Petition filed in Supreme Court

Petition filed in Supreme Court

A Lahore High Court Bar Association Barrister Zafar Ullah Khan has filed a petition in the Supreme Court against bar members' detention. He has told the court to issue an order forthwith to the government to appoint a review board to release the bar membe
Published 12 Feb, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (February 11, 2008).
Published 12 Feb, 2008 12:00am
PCRA offers nine-point reconciliation formula

PCRA offers nine-point reconciliation formula

Pakistan Chemists and Retailers Association (PCRA) has presented a nine-point reconciliation formula to the Health Department, Punjab, for resolving the controversy over the disputed Punjab Drugs Rules 2007. First, the unconstitutional clause, discriminat
Published 12 Feb, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (February 11, 2008).
Published 12 Feb, 2008 12:00am
NWFP plans reorganisation of tobacco cess collection

NWFP plans reorganisation of tobacco cess collection

The government of NWFP has planned reorganisation of the procedure of tobacco cess collection to facilitate tobacco industry and minimise their problems in this regard. Under the plan the cess would be levied on only one specific grade of tobacco to resol
Published 12 Feb, 2008 12:00am
NIT registers 7.5 percent return

NIT registers 7.5 percent return

During the half-year ended on December 31, 2007, total return on NIT units stood at 7.5 percent where Net Assets Value of NIT unit increased from Rs 56.18 as on June 30, 2007 (Ex Dividend) to Rs 60.42 per unit as on December 31, 2007 as against KSE-100 in
Published 12 Feb, 2008 12:00am
Shaukat Aziz left quietly amid the tumult

Shaukat Aziz left quietly amid the tumult

The following is the full text of former prime minister Shaukat Aziz's interview that he gave to FORBES ASIA. It was partly reproduced in yesterday's issue: Fresh from the trauma of opposition leader Benazir Bhutto's assassination, Pakistan is scheduled t
Published 12 Feb, 2008 12:00am
Mehdi Securities declared LSE defaulter

Mehdi Securities declared LSE defaulter

The Board of Directors of the Lahore Stock Exchange (LSE) has officially declared the Mehdi Securities as defaulter and referred the matter to the Defaulters Committee of the Exchange to look into pros and cons, including verification of claims.
Published 12 Feb, 2008 12:00am
Importance of mother, childcare highlighted in a workshop

Importance of mother, childcare highlighted in a workshop

Medical experts at a workshop highlighted the importance of mother and child welfare and childcare besides promotion of better understanding of the responsibilities that accrue with motherhood. The three-day event was organised by Intermedia, which was at
Published 12 Feb, 2008 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.
Published 12 Feb, 2008 12:00am
Clinton shuffles team

Clinton shuffles team

As she struggles to blunt Barack Obama's growing momentum, Democrat Hillary Clinton shuffled her campaign staff's leadership on Sunday ahead of this week's US presidential nominating contests, while her rival celebrated a victory in the Maine caucuses.
Published 12 Feb, 2008 12:00am
Clinton shuffles team

Clinton shuffles team

As she struggles to blunt Barack Obama's growing momentum, Democrat Hillary Clinton shuffled her campaign staff's leadership on Sunday ahead of this week's US presidential nominating contests, while her rival celebrated a victory in the Maine caucuses.
Published 12 Feb, 2008 12:00am
Credit Suisse appoints Asia head of global securities

Credit Suisse appoints Asia head of global securities

Credit Suisse has appointed Osama Abbasi as head of global securities for Asia excluding Japan, according to an internal memo obtained by Reuters, part of a push by the Swiss bank to unify fixed income and equities in a single department.
Published 12 Feb, 2008 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Monday (February 11, 2008).
Published 12 Feb, 2008 12:00am
Credit Suisse appoints Asia head of global securities

Credit Suisse appoints Asia head of global securities

Credit Suisse has appointed Osama Abbasi as head of global securities for Asia excluding Japan, according to an internal memo obtained by Reuters, part of a push by the Swiss bank to unify fixed income and equities in a single department.
Published 12 Feb, 2008 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.
Published 12 Feb, 2008 12:00am
Credit Suisse appoints Asia head of global securities

Credit Suisse appoints Asia head of global securities

Credit Suisse has appointed Osama Abbasi as head of global securities for Asia excluding Japan, according to an internal memo obtained by Reuters, part of a push by the Swiss bank to unify fixed income and equities in a single department.
Published 12 Feb, 2008 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.
Published 12 Feb, 2008 12:00am
Credit Suisse appoints Asia head of global securities

Credit Suisse appoints Asia head of global securities

Credit Suisse has appointed Osama Abbasi as head of global securities for Asia excluding Japan, according to an internal memo obtained by Reuters, part of a push by the Swiss bank to unify fixed income and equities in a single department.
Published 12 Feb, 2008 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.
Published 12 Feb, 2008 12:00am
Elections 2008: 500 applications from IEOs processed

Elections 2008: 500 applications from IEOs processed

As many as 500 applications received from International Election Observers (IEOs) have been processed so far, Foreign Ministry spokesperson Muhammad Sadiq, told Business Recorder here on Monday.
Published 12 Feb, 2008 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.
Published 12 Feb, 2008 12:00am
Guidelines released for IEOs, IMPs

Guidelines released for IEOs, IMPs

The government has undertaken extensive measures to facilitate International Election Observers (IEOs) and International Media Personnel (IMPs), expected to be in Pakistan to observe the general election scheduled on 18 February (Monday), it was said in a
Published 12 Feb, 2008 12:00am
Presentation

Presentation

Presentation at KSE auditorium (only for members and an authorised employee of the members).
Published 12 Feb, 2008 12:00am
Budgetary deficit could widen: Dr Ashfaque

Budgetary deficit could widen: Dr Ashfaque

Pakistan has got some $9.3 billion assistance from United State during the last six and a half years, while it has not received a single penny for reimbursement during the current fiscal year which could raise the budgetary deficit.
Published 12 Feb, 2008 12:00am
German cartel office probes chocolate price hikes: spokeswoman

German cartel office probes chocolate price hikes: spokeswoman

The German Federal Cartel Office suspects manufacturers of sweets and chocolates of price fixing following sharp increases this year, a spokeswoman said Monday. Cartel officials raided offices of seven such companies last Thursday, the spokeswoman told AF
Published 12 Feb, 2008 12:00am
GCap aims to double profit amid digital pullback

GCap aims to double profit amid digital pullback

GCap Media Plc, Britain's largest commercial radio company, is to pull back from digital radio to help double profits as part of an overhaul by its new chief executive designed to maintain its independence.
Published 12 Feb, 2008 12:00am
GCap aims to double profit amid digital pullback

GCap aims to double profit amid digital pullback

GCap Media Plc, Britain's largest commercial radio company, is to pull back from digital radio to help double profits as part of an overhaul by its new chief executive designed to maintain its independence.
Published 12 Feb, 2008 12:00am
Ahold weathering US slowdown, needs to do more

Ahold weathering US slowdown, needs to do more

How badly will a US slowdown squeeze Ahold NV? Of all the leading European supermarket operators, the Dutch group is most exposed to the US economy via its grocery chains Stop&Shop, Giant-Landover and Giant-Carlisle, which account for some 60 percent of i
Published 12 Feb, 2008 12:00am
IKB shares plunge on reports of more subprime-related woes

IKB shares plunge on reports of more subprime-related woes

Shares in German lender IKB plunged by 11.39 percent in early trades on Monday following press reports that it could be hit harder than expected by the US subprime housing crisis. IKB shares changed hands for 5.60 euros (8.15 dollars), while the MDax inde
Published 12 Feb, 2008 12:00am
IKB shares plunge on reports of more subprime-related woes

IKB shares plunge on reports of more subprime-related woes

Shares in German lender IKB plunged by 11.39 percent in early trades on Monday following press reports that it could be hit harder than expected by the US subprime housing crisis. IKB shares changed hands for 5.60 euros (8.15 dollars), while the MDax inde
Published 12 Feb, 2008 12:00am
Forrester cuts technology outlook on US recession risk

Forrester cuts technology outlook on US recession risk

Technology research firm Forrester Research Inc cut its forecast for 2008 global technology purchasing growth by a third on Sunday, citing the risks of a US recession. Forrester said it now expects global technology purchases to grow 6 percent in dollar t
Published 12 Feb, 2008 12:00am
Forrester cuts technology outlook on US recession risk

Forrester cuts technology outlook on US recession risk

Technology research firm Forrester Research Inc cut its forecast for 2008 global technology purchasing growth by a third on Sunday, citing the risks of a US recession. Forrester said it now expects global technology purchases to grow 6 percent in dollar t
Published 12 Feb, 2008 12:00am
Prosecutors, defence lawyers wrangle over South Korea oil leak

Prosecutors, defence lawyers wrangle over South Korea oil leak

Prosecutors and defence lawyers wrangled Monday about procedural matters when the trial resumed of five people accused of negligence in South Korea's worst oil spill. At the second hearing of the case the two sides argued over who should testify and what
Published 12 Feb, 2008 12:00am
Gambling software firm Playtech bullish as revenues jump

Gambling software firm Playtech bullish as revenues jump

Playtech, the world's biggest online casino and poker software firm, said on Monday it was highly confident about 2008 trading as fourth-quarter revenues jumped. The UK-based, Israeli-run firm said revenues rose 101 percent to $32.7 million when the previ
Published 12 Feb, 2008 12:00am
Gambling software firm Playtech bullish as revenues jump

Gambling software firm Playtech bullish as revenues jump

Playtech, the world's biggest online casino and poker software firm, said on Monday it was highly confident about 2008 trading as fourth-quarter revenues jumped. The UK-based, Israeli-run firm said revenues rose 101 percent to $32.7 million when the previ
Published 12 Feb, 2008 12:00am
Poles trickle back to reviving city

Poles trickle back to reviving city

Once a byword for poverty and post-communist racketeering, Poland's second largest city of Lodz was a place people wanted to escape. Today some are moving back, drawn by foreign investment and falling unemployment. Lodz (pronounced 'Woodge') suffered more
Published 12 Feb, 2008 12:00am
China farmland privatisation protests set to grow

China farmland privatisation protests set to grow

Chinese activists pushing for private ownership of farms are preparing for spreading protests to "reclaim" disputed land, intensifying a battle between state control and emboldened farmers.
Published 12 Feb, 2008 12:00am
IMF sees sharp US slowdown, seeks global cure

IMF sees sharp US slowdown, seeks global cure

Economic slowdown in the United States will be significant and will last for some time, the head of the International Monetary Fund said on Monday, calling for a co-ordinated response to financial turmoil around the world.
Published 12 Feb, 2008 12:00am
Philippines economy has turned corner, says Arroyo

Philippines economy has turned corner, says Arroyo

Philippine President Gloria Arroyo told business leaders Monday her country had made a permanent economic turnaround but conceded the ailing United States economy was a concern. "We are confident the turnaround is permanent," she told an international con
Published 12 Feb, 2008 12:00am
Juncker confident on economy, says no to stimulus

Juncker confident on economy, says no to stimulus

Eurozone economic growth will slow this year, but there is no risk of recession and no need for extra stimulation through taxes or interest rates, the euro zone's top economic policymakers said on Monday.
Published 12 Feb, 2008 12:00am
Bank of America, Chevron win entry to Dow

Bank of America, Chevron win entry to Dow

Bank of America and Chevron Corporation will replace Altria Group and Honeywell International in the widely-tracked Dow Jones Industrial Average stock barometer on February 19, Dow Jones said Monday.
Published 12 Feb, 2008 12:00am
Bank of America, Chevron win entry to Dow

Bank of America, Chevron win entry to Dow

Bank of America and Chevron Corporation will replace Altria Group and Honeywell International in the widely-tracked Dow Jones Industrial Average stock barometer on February 19, Dow Jones said Monday.
Published 12 Feb, 2008 12:00am
Turkmenistan ups petrol prices, gives free rations

Turkmenistan ups petrol prices, gives free rations

Car drivers in Turkmenistan started paying eight times more for their petrol on Monday as part of the government's effort to push the Soviet-style economy towards a free-market model.
Published 12 Feb, 2008 12:00am
Nokia inaugurates first assembly line at Romanian plant

Nokia inaugurates first assembly line at Romanian plant

Finnish cellphone maker Nokia on Monday inaugurated the first assembly line at its new plant in north-west Romania, a facility that will replace a Nokia operation in Germany despite fierce protests there.
Published 12 Feb, 2008 12:00am
Saudi money supply falls after lending curbs tighten

Saudi money supply falls after lending curbs tighten

Money supply growth in Saudi Arabia fell in December, a month after the largest Arab economy tightened lending curbs to offset lower interest rates as the dollar-pegged country battles with inflation at a 16-year high.
Published 12 Feb, 2008 12:00am
UK factory inflation soars, trade gap worst ever

UK factory inflation soars, trade gap worst ever

Britain's factories are facing the strongest inflation pressures on record and ramping up prices to compensate, further eroding the room the Bank of England has to cut interest rates this year.
Published 12 Feb, 2008 12:00am
SocGen launches rights issue at deep discount

SocGen launches rights issue at deep discount

Societe Generale launched a deeply discounted 5.5 billion euros ($8 billion) capital increase on Monday to prop up its finances and heal scars from the world's biggest rogue trading scandal.
Published 12 Feb, 2008 12:00am
SocGen launches rights issue at deep discount

SocGen launches rights issue at deep discount

Societe Generale launched a deeply discounted 5.5 billion euros ($8 billion) capital increase on Monday to prop up its finances and heal scars from the world's biggest rogue trading scandal.
Published 12 Feb, 2008 12:00am
Chavez threatens to cut US oil sales

Chavez threatens to cut US oil sales

President Hugo Chavez has threatened to cut oil sales to the United States if ExxonMobil succeeds in getting billions of dollars in Venezuelan assets as compensation for expropriated oil fields.
Published 12 Feb, 2008 12:00am
Malaysian palm oil recovers

Malaysian palm oil recovers

Malaysian crude palm oil futures edged up 0.8 percent on Monday, recovering from sharp declines as investors covered shorts after rival soyaoil markets swung into positive territory in Asian trade.
Published 12 Feb, 2008 12:00am
Indonesia palm oil eases

Indonesia palm oil eases

Indonesian crude palm oil prices eased on Monday, tracking losses in the Malaysian market while tight supply offered support on cooking oil prices. Crude palm oil at the state marketing centre auction in Jakarta was sold at 9,476 rupiah ($1.02) a kg, fall
Published 12 Feb, 2008 12:00am
Indian soyaoil futures ease

Indian soyaoil futures ease

Indian soyaoil futures eased on Monday as weak world markets encouraged traders to lock in profits after prices had risen nearly 3 percent this month. At 3:06 pm (0936 GMT), the February contract on the National Commodity and Derivatives Exchange was down
Published 12 Feb, 2008 12:00am
Russian grain, sunseed prices rally

Russian grain, sunseed prices rally

Russian grain prices made further strong gains last week due to low stocks and restricted supply from producers, who refrained from selling as they awaited even higher prices, analysts said. Prices rose substantially in the key domestic consumer markets o
Published 12 Feb, 2008 12:00am
Thai raw sugar premium unchanged

Thai raw sugar premium unchanged

The premium on Thai raw sugar was quoted unchanged in thin trade on Monday as rising futures contract prices in New York kept buyers on the sidelines. The premium on Thai raw sugar was still quoted at 162 points over New York prices for March shipment, tr
Published 12 Feb, 2008 12:00am
Indian sugar futures drop

Indian sugar futures drop

Indian sugar futures dropped on Monday tracking a weak physical market and on concerns deliveries may rise in the near-month contract due to higher warehouse stocks. At 3:56 pm (1026 GMT), the February contract on the National Commodity and Derivatives Ex
Published 12 Feb, 2008 12:00am
Malaysia tin up

Malaysia tin up

Malaysian tin rose 2.5 percent to hit a 3-month high on Monday after London Metal Exchange prices soared and heavy buying at the bolstered the market, one dealer said. Tin stood at $17,000 a tonne, the highest since November 19 when the market rose to $17
Published 12 Feb, 2008 12:00am
Oil climbs above $92 on Venezuela threat

Oil climbs above $92 on Venezuela threat

Oil rose nearly $1 on Monday to match its highest in almost a month, extending last week's late gains as Venezuela threatened to halt oil exports to the United States and bomb alerts shut down one of Britain's largest gas fields. US light crude for March
Published 12 Feb, 2008 12:00am
Australia government issues non-AWB wheat export permits

Australia government issues non-AWB wheat export permits

The Australian government has granted wheat export permits to overseas traders for the first time in almost 70 years as moves to dismantle the previous monopoly export arrangements gather pace.
Published 12 Feb, 2008 12:00am
Platinum at historic high

Platinum at historic high

Platinum hit another record high on Monday on lingering supply concerns in South Africa, which produces four-fifths of the world's supply of the metal, while gold firmed near an historic high. Platinum has gained nearly 25 percent so far this year after p
Published 12 Feb, 2008 12:00am
Copper up in thin Asian trade

Copper up in thin Asian trade

Copper edged up half a percent in thin trade on Monday, underpinned by falling stocks, but awaiting a firm steer when markets in London and New York open. Industrial metals were largely neglected in trades due to the absence of big consuming nations, Japa
Published 12 Feb, 2008 12:00am
Chicago wheat soars

Chicago wheat soars

Chicago wheat futures jumped by their new daily limit of 60 cents a bushel on Monday in electronic trading in the Asian time zone. Prices for the front month March contract jumped by 60 cents a bushel to $11.53 a bushel in trading.
Published 12 Feb, 2008 12:00am
Asia-Pacific crude down

Asia-Pacific crude down

The Asia-Pacific crude market opened the week lower after light sweet Sokol crude kicked off trading for April crude at weaker levels, traders said on Monday.
Published 12 Feb, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 302,133 tonnes cargo including 250,034 tonnes import, 52,099 tonnes export cargo and 3,803 containers (TEUs) during last 48 hours ending at 0700 hours on Monday.
Published 12 Feb, 2008 12:00am
Rains return to foil Brazil center-west soya harvest

Rains return to foil Brazil center-west soya harvest

After few days hiatus, rainy weather will return to Brazil's soya-rich center-west states where it will interrupt harvest that began in early January, forecaster Somar predicted Monday.
Published 12 Feb, 2008 12:00am
Singapore bunker fuel prices rise

Singapore bunker fuel prices rise

Singapore bunker prices rose on Monday, as their differential to fuel oil cargo values slipped into deeper discount as sellers sought to spur demand in a lacklustre market. Prices for 380-centistoke (cst) bunker fuel were pegged at $436-$438 a tonne, up $
Published 12 Feb, 2008 12:00am
US Plains HRW wheat bids steady

US Plains HRW wheat bids steady

US Plains hard red basis bids were holding steady on Monday with protein premiums surging amid strong mill demand. Protein premiums for railcar wheat to and through Kansas City shot up $1.95/bu for 14.00 percent protein and 15 cent to $1.10 for other prot
Published 12 Feb, 2008 12:00am
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