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Nov 24, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-03-15
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 15 Mar, 2008 12:00am
Rumours against National Assembly session affect stocks trading

Rumours against National Assembly session affect stocks trading

Karachi share market on Friday, the last trading day of the week, witnessed mixed activity due to uncertainty over the March 17 national assembly session and nomination for the prime minister slot. However, the KSE-100 index closed with a gain of 12.55 po
Published 15 Mar, 2008 12:00am
Rumours against National Assembly session affect stocks trading

Rumours against National Assembly session affect stocks trading

Karachi share market on Friday, the last trading day of the week, witnessed mixed activity due to uncertainty over the March 17 national assembly session and nomination for the prime minister slot. However, the KSE-100 index closed with a gain of 12.55 po
Published 15 Mar, 2008 12:00am
FBR seeks withholding tax deduction proof of 2,300 projects

FBR seeks withholding tax deduction proof of 2,300 projects

The Federal Board of Revenue has directed the project directors of 2,300 public sector development projects to submit evidence of withholding tax deduction on payments made to local/foreign consultants, salaries of employees and contract work awarded duri
Published 15 Mar, 2008 12:00am
BRIDGE NOTES: Nothing more than common sense

BRIDGE NOTES: Nothing more than common sense

Perhaps the first thing a beginner at bridge learns is to count the distribution of suits around the table. To count up to 13 is not too difficult and yet a lot of us fail to make the inferential count from the clues gathered from the bidding and the open
Published 15 Mar, 2008 12:00am
FBR seeks withholding tax deduction proof of 2,300 projects

FBR seeks withholding tax deduction proof of 2,300 projects

The Federal Board of Revenue has directed the project directors of 2,300 public sector development projects to submit evidence of withholding tax deduction on payments made to local/foreign consultants, salaries of employees and contract work awarded duri
Published 15 Mar, 2008 12:00am
FBR seeks withholding tax deduction proof of 2,300 projects

FBR seeks withholding tax deduction proof of 2,300 projects

The Federal Board of Revenue has directed the project directors of 2,300 public sector development projects to submit evidence of withholding tax deduction on payments made to local/foreign consultants, salaries of employees and contract work awarded duri
Published 15 Mar, 2008 12:00am
Toys from China - pros and cons

Toys from China - pros and cons

Toys from China have flooded the local market after the local producers of toys closed down their production units and opted for imports from China for obvious reasons - low prices.
Published 15 Mar, 2008 12:00am
FBR allows CNG buses made from Indian auto parts

FBR allows CNG buses made from Indian auto parts

The Federal Board of Revenue has allowed release of 15 CNG buses, assembled in Dubai with Indian auto parts, on payment of duties and taxes in addition to 30 percent redemption fine. The release of buses has been permitted on one-time authorisation of the
Published 15 Mar, 2008 12:00am
BOOK REVIEW: 'Dhoop Kee Awaz'

BOOK REVIEW: 'Dhoop Kee Awaz'

A medical doctor by profession, Asmat Durrani is a gentle soul. Apart from his 9 to 5 professional life, he finds a bit of time to record his inner feelings. He writes ghazals as well as nazms to express his creativity. So poetry remains his passion. Most
Published 15 Mar, 2008 12:00am
FBR allows CNG buses made from Indian auto parts

FBR allows CNG buses made from Indian auto parts

The Federal Board of Revenue has allowed release of 15 CNG buses, assembled in Dubai with Indian auto parts, on payment of duties and taxes in addition to 30 percent redemption fine. The release of buses has been permitted on one-time authorisation of the
Published 15 Mar, 2008 12:00am
CAPITAL CULTURAL SCENE: Arts and International Women's Day

CAPITAL CULTURAL SCENE: Arts and International Women's Day

The week was dominated by brisk art and cultural activities related to International Women's Day. A number of civil society segments, including diplomatic missions in Pakistan, came forward to highlight the significant role of women and to create yet more
Published 15 Mar, 2008 12:00am
FBR allows CNG buses made from Indian auto parts

FBR allows CNG buses made from Indian auto parts

The Federal Board of Revenue has allowed release of 15 CNG buses, assembled in Dubai with Indian auto parts, on payment of duties and taxes in addition to 30 percent redemption fine. The release of buses has been permitted on one-time authorisation of the
Published 15 Mar, 2008 12:00am
Task for women parliamentarians

Task for women parliamentarians

Women parliamentarians have more responsibilities than their counterparts in the national and four provincial assemblies. The common agenda for all the women in parliament should be empowerment and restoration of women's rights to enjoy liberty to choose
Published 15 Mar, 2008 12:00am
FBR allows CNG buses made from Indian auto parts

FBR allows CNG buses made from Indian auto parts

The Federal Board of Revenue has allowed release of 15 CNG buses, assembled in Dubai with Indian auto parts, on payment of duties and taxes in addition to 30 percent redemption fine. The release of buses has been permitted on one-time authorisation of the
Published 15 Mar, 2008 12:00am
Pakistan may import one million tonne wheat

Pakistan may import one million tonne wheat

Pakistan is likely to import over one million tonne wheat in mid of current year to avoid the expected shortfall and meet the rising demand of the commodity.
Published 15 Mar, 2008 12:00am
KARACHI CHRONICLE: The plague of load shedding

KARACHI CHRONICLE: The plague of load shedding

On Thursday March 6 there was no power supply to Karachi from 8 am to 11:15 pm. The public was surprised because the weather was still cool, not requiring the use of fans and air conditioners. Was it not too early for the KESC to start punishing 16 millio
Published 15 Mar, 2008 12:00am
Pakistan may import one million tonne wheat

Pakistan may import one million tonne wheat

Pakistan is likely to import over one million tonne wheat in mid of current year to avoid the expected shortfall and meet the rising demand of the commodity.
Published 15 Mar, 2008 12:00am
Respecting yourself and others

Respecting yourself and others

One of the most beautiful qualities of the holy Prophet (saw) was that he made every individual feel special and loved. Hazrat Hasan (RA) transmitting from his father Hazrat Ali (KW) reveals that ".He allowed every sitting person his share. None of his as
Published 15 Mar, 2008 12:00am
Pakistan may import one million tonne wheat

Pakistan may import one million tonne wheat

Pakistan is likely to import over one million tonne wheat in mid of current year to avoid the expected shortfall and meet the rising demand of the commodity.
Published 15 Mar, 2008 12:00am
Muslim rule in Spain-I

Muslim rule in Spain-I

Spain is the biggest country of Europe. It is a constitutional monarchy with Madrid as its capital. In Muslim history, Spain is also remembered by its two other names. Andulus and Hispania. Muslims ruled Spain with full grace and glory for about eight cen
Published 15 Mar, 2008 12:00am
Textile buying houses shift to neighbouring states

Textile buying houses shift to neighbouring states

The decades-old Pakistan based international textile buying houses have shifted to India, Bangladesh and Middle Eastern countries due to bomb blasts and deteriorating law and order situation, textile industry sources told Business Recorder, here on
Published 15 Mar, 2008 12:00am
Prophets personify highest human traits

Prophets personify highest human traits

People through which the Almighty completed providing His guidance to mankind are called prophets. They were, in fact, human beings; however, the Almighty selected them for this purpose on the basis of His all embracing knowledge and wisdom. As such, prop
Published 15 Mar, 2008 12:00am
Textile buying houses shift to neighbouring states

Textile buying houses shift to neighbouring states

The decades-old Pakistan based international textile buying houses have shifted to India, Bangladesh and Middle Eastern countries due to bomb blasts and deteriorating law and order situation, textile industry sources told Business Recorder, here on
Published 15 Mar, 2008 12:00am
HRW wheat values mostly steady

HRW wheat values mostly steady

US Plains hard red winter wheat basis values were mostly steady on Friday, with farmer selling remaining slow and mills well-covered. One Oklahoma dealer said he was posting 10 cents a bushel protection on basis bids following a decline in KCBT futures in
Published 15 Mar, 2008 12:00am
Textile buying houses shift to neighbouring states

Textile buying houses shift to neighbouring states

The decades-old Pakistan based international textile buying houses have shifted to India, Bangladesh and Middle Eastern countries due to bomb blasts and deteriorating law and order situation, textile industry sources told Business Recorder, here on
Published 15 Mar, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 97,763 tonnes cargo including 64,582 tonnes import, 33,181 tonnes export cargo and 3,930 containers (TEUs) during last 24 hours ending at 0700 hours on Friday. The cargo comprised of 94,963 tonnes dry cargo including 43,340 tonnes
Published 15 Mar, 2008 12:00am
BMW reference: Zardari acquitted

BMW reference: Zardari acquitted

An Accountability Court on Friday acquitted Co-Chairman of Pakistan Peoples Party (PPP) Asif Ali Zardari from BMW reference under National Reconciliatory Ordinance (NRC). The Accountability Court, Rawalpindi, resumed hearing on the application regarding t
Published 15 Mar, 2008 12:00am
Canadian canola ends mixed

Canadian canola ends mixed

Canadian canola futures ended mixed on Thursday amid late nearby selling, after receiving support through most of the session from strong US futures and a lack of hedges, traders said. But the market was thin as participants stayed on the sidelines becaus
Published 15 Mar, 2008 12:00am
BMW reference: Zardari acquitted

BMW reference: Zardari acquitted

An Accountability Court on Friday acquitted Co-Chairman of Pakistan Peoples Party (PPP) Asif Ali Zardari from BMW reference under National Reconciliatory Ordinance (NRC). The Accountability Court, Rawalpindi, resumed hearing on the application regarding t
Published 15 Mar, 2008 12:00am
US Midwest bids for corn and soyabean fall

US Midwest bids for corn and soyabean fall

Spot basis bids for corn and soyabeans fell at river locations on Thursday due to weak export demand, grain dealers said. Around the interior, bids for both commodities held steady at most processors and elevators. Farmer selling was slow on Thursday as m
Published 15 Mar, 2008 12:00am
US corn futures end firmer

US corn futures end firmer

US corn futures on the Chicago Board of Trade ended firm on Thursday, supported by spillover buying from the strength in other commodities, traders said. The dollar falling to a record low, the rally in New York April gold to over $1,000 an ounce and US c
Published 15 Mar, 2008 12:00am
US wheat futures drop

US wheat futures drop

US wheat futures fell on Thursday on profit-taking after the strong rally on Wednesday, traders said. Wheat markets soared on Wednesday amid persistent buying by investment funds following the release early this week of bullish US. wheat supply and demand
Published 15 Mar, 2008 12:00am
US House passes spy bill, challenges White House

US House passes spy bill, challenges White House

The US House of Representatives on Friday passed a wiretap surveillance bill which President George W. Bush has vowed to veto, deepening a stand-off over anti-terror espionage powers.
Published 15 Mar, 2008 12:00am
Oil cake market rates

Oil cake market rates

Thin business was seen on the forward cottonseed oilcake market on Friday as most of the buyers were on the sidelines due to lack of interest in fresh deals, dealers said. The March vaida did not show any change at Rs 695.00 and market settled at the same
Published 15 Mar, 2008 12:00am
Limited transaction seen on cotton market

Limited transaction seen on cotton market

Steady trend was again witnessed on the cotton market on Friday as prices held the firmness in process of modest demand by the mills, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 3350, they said.
Published 15 Mar, 2008 12:00am
No change on grain market

No change on grain market

Prices maintained the overnight levels on the grain market on Friday as most of the participants were busy in Juma prayers, dealers said. In the meantime, as a result of strike call given by the Sunni Therik several commercial centres were closed, they ad
Published 15 Mar, 2008 12:00am
US rice weekly export sales

US rice weekly export sales

USDA rice export sales highlights in latest reporting week: Net sales of 50,000 MT were 16 percent above the previous week, but 17 percent below the prior 4-week average. Increases were reported for Mexico (15,800 MT), Japan (13,600 MT), Honduras (5,100 M
Published 15 Mar, 2008 12:00am
Credit fears hit stocks hard; gold surges

Credit fears hit stocks hard; gold surges

Investor confidence took a fresh body blow on Friday as an emergency funding plan to rescue Wall Street''s fifth biggest broker Bear Stearns hammered global equity markets and boosted safe-haven flows to government bonds and inflation hedges like gold.
Published 15 Mar, 2008 12:00am
US wheat weekly export sales highlights: USDA

US wheat weekly export sales highlights: USDA

USDA wheat export sales highlights in latest reporting week: Net sales of 210,100 metric tons were 51 percent below the previous week and 9 percent under the prior 4-week average.
Published 15 Mar, 2008 12:00am
Credit fears hit stocks hard; gold surges

Credit fears hit stocks hard; gold surges

Investor confidence took a fresh body blow on Friday as an emergency funding plan to rescue Wall Street's fifth biggest broker Bear Stearns hammered global equity markets and boosted safe-haven flows to government bonds and inflation hedges like gold.
Published 15 Mar, 2008 12:00am
New York coffee rallies to strong settlement

New York coffee rallies to strong settlement

Arabica coffee futures settled sharply higher Tuesday on the back of a weaker dollar and speculative buying amid thin volume, traders said. "The weak dollar, speculators buy a bit (and) look for a breakout. It's light volume, easy for a big swing," one co
Published 15 Mar, 2008 12:00am
Credit fears hit stocks hard; gold surges

Credit fears hit stocks hard; gold surges

Investor confidence took a fresh body blow on Friday as an emergency funding plan to rescue Wall Street's fifth biggest broker Bear Stearns hammered global equity markets and boosted safe-haven flows to government bonds and inflation hedges like gold.
Published 15 Mar, 2008 12:00am
New York cocoa soars to end up

New York cocoa soars to end up

Cocoa futures trading on ICE Futures US settled more than 5 percent higher at a 28-year high on Thursday, on heavy technical support, a strong sterling relative to the dollar and speculative interest, traders said.
Published 15 Mar, 2008 12:00am
Defence prepares new policy for 'A-1' land use

Defence prepares new policy for 'A-1' land use

The Ministry of Defence has formulated a new policy on the use of A-1 category land for welfare and other projects of the Armed Forces and Canteen Stores Department (CSD). However, all commercial activities being undertaken on A-1 category lands in the ca
Published 15 Mar, 2008 12:00am
Tocom rubber up

Tocom rubber up

Tokyo rubber futures rose 2 percent on Friday, supported by firm gold and oil prices, but were still under pressure from the strengthening of the yen The benchmark rubber contract on the Tokyo Commodity Exchange for August delivery rose 5.7 yen, or 2 perc
Published 15 Mar, 2008 12:00am
Defence prepares new policy for 'A-1' land use

Defence prepares new policy for 'A-1' land use

The Ministry of Defence has formulated a new policy on the use of A-1 category land for welfare and other projects of the Armed Forces and Canteen Stores Department (CSD). However, all commercial activities being undertaken on A-1 category lands in the ca
Published 15 Mar, 2008 12:00am
US copper down

US copper down

US copper futures drifted to a softer close on Thursday as concerns about the red metal's future demand prospects capped earlier dollar-inspired gains, traders said.
Published 15 Mar, 2008 12:00am
US gold scales $1,000 record high

US gold scales $1,000 record high

US gold futures surged above the historic $1,000 mark on Thursday, as a record-low dollar and inflation fears due to crude oil rising to all-time highs prompted investors to enter the bullion market.
Published 15 Mar, 2008 12:00am
Cash gold nears $1,000 level

Cash gold nears $1,000 level

Spot gold jumped on Friday and held within sight of the $1,000-an-ounce barrier broken on the futures market after the dollar hit a record low against the euro, boosting the metal's appeal as an alternative investment.
Published 15 Mar, 2008 12:00am
Malaysian tin at new high

Malaysian tin at new high

Malaysian tin gained 1.6 percent to hit a new high of $19,800 per tonne on Friday due to a sharp rise in London Metal Exchange prices and surging foreign demand, one dealer said.
Published 15 Mar, 2008 12:00am
Asian physical rubber prices

Asian physical rubber prices

Asian physical rubber prices were quoted mostly unchanged on Friday as thin trade offset small rises of futures contract prices on the Tokyo Commodity Exchange. Physical prices were expected to remain supported by low seasonal supplies, traders said.
Published 15 Mar, 2008 12:00am
Oil slips from record

Oil slips from record

Oil fell on Friday as investors took profits after crude hit a record $111, but the dollar's weakness is likely to cap losses. US crude for April delivery fell 58 cents to $109.75 a barrel by 0724 GMT. The contract, which touched a record for the seventh
Published 15 Mar, 2008 12:00am
US cotton weekly export sales highlights: USDA

US cotton weekly export sales highlights: USDA

USDA cotton export sales highlights for latest reporting week: Net Upland sales of 42,600 running bales-a marketing-year low-were down 56 percent from the previous week and 83 percent from the prior 4-week average.
Published 15 Mar, 2008 12:00am
England wheat area rises

England wheat area rises

Wheat area in England has climbed 10.4 percent to 1.9 million hectares, boosted by high prices, Britain's farm ministry said on Thursday, quoting results of a December agriculture survey. Winter barley area was put 13.9 percent higher at 366,000 ha while
Published 15 Mar, 2008 12:00am
New York sugar rides to firmer finish

New York sugar rides to firmer finish

ICE raw sugar futures rose, albeit quietly, to a firmer close Thursday as a depressed US dollar and all-time record highs in crude oil bolstered the sweetener, brokers said. ICE Futures May electronic sugar settled up 0.434 cent or 3.3 percent at 13.59 ce
Published 15 Mar, 2008 12:00am
US soybean futures higher

US soybean futures higher

US soybean futures on the Chicago Board of Trade rose on Thursday on a bounce from this week's sell-off, traders said. With the dollar falling to a record low, the rally in New York gold to a new top of $1,000 an ounce in the April contract and the rise i
Published 15 Mar, 2008 12:00am
US rice slips

US rice slips

US rough rice futures on the Chicago Board of Trade ended lower on Thursday, slipping after notching an all-time high for the third straight day, traders said. Prices slipped in the final 30 minutes of trade on industry fears that historically high US ric
Published 15 Mar, 2008 12:00am
Indonesia palm oil falls

Indonesia palm oil falls

Indonesian palm oil prices fell on Friday, dragged down by losses in the Malaysian market with traders still cautious due to concerns of a possible higher export tax next month. The state marketing centre in Jakarta sold crude palm oil at 10,083 rupiah ($
Published 15 Mar, 2008 12:00am
Malaysian palm oil down

Malaysian palm oil down

Malaysian palm oil futures ended nearly 3 percent lower on Friday as investors booked profits while waiting to see if China would import more vegetable oils to arrest inflation, traders said.
Published 15 Mar, 2008 12:00am
Eurozone inflation hits record high

Eurozone inflation hits record high

Eurozone inflation hit a new record high of 3.3 percent in February as oil prices soared, data showed on Friday, adding to the European Central Bank's dilemma as it faces calls to cut interest rates to boost growth.
Published 15 Mar, 2008 12:00am
Housing slam a root cause

Housing slam a root cause

President George W. Bush on Friday said the root cause of the US economic slowdown was a downturn in the housing market and said he strongly rejected some proposals to deal with the crisis. He said a proposal for state and local governments to buy abandon
Published 15 Mar, 2008 12:00am
Energy policy has not been very wise

Energy policy has not been very wise

President George W. Bush on Friday cautioned that US energy policy has not been effective in helping alleviate the world's richest economy's dependence on foreign oil.
Published 15 Mar, 2008 12:00am
Paulson cites Fed role in market stability

Paulson cites Fed role in market stability

US Treasury Secretary Henry Paulson said on Friday he appreciated the Federal Reserve's leadership in enhancing market stability and addressing financial challenges, saying such efforts would minimise disruptions.
Published 15 Mar, 2008 12:00am
EU to press banks for speedy subprime remedies

EU to press banks for speedy subprime remedies

Banks must quickly disclose losses on investments hit by a global credit squeeze and governments will intervene if the market fails to sort itself out, European Union leaders said on Friday.
Published 15 Mar, 2008 12:00am
EU leaders worried about strong euro

EU leaders worried about strong euro

European Union leaders voiced concern on Friday about volatile exchange rates after the euro hit a new high against the dollar this week and Germany said it would discuss it with the United States. "Excessive volatility and disorderly movements of exchang
Published 15 Mar, 2008 12:00am
US consumer prices flat but confidence dips

US consumer prices flat but confidence dips

Cheaper gasoline and food helped keep US consumer prices in check during February, the government said on Friday, but a key gauge of consumer hopes showed growing dread of soaring prices in a slowing economy.
Published 15 Mar, 2008 12:00am
Japan to drop Muto for top BoJ job

Japan to drop Muto for top BoJ job

The Japanese government is likely to give up on promoting Bank of Japan Deputy Governor Toshiro Muto to the BoJ's top job and to seek an alternative candidate with central banking experience, political sources said on Friday.
Published 15 Mar, 2008 12:00am
China outsurfs the US

China outsurfs the US

China's Internet population has overtaken the United States' to become the world's biggest with about 220 million web surfers, a research firm said Friday. The Chinese figure dates from late February, when the US online population was estimated at about 2
Published 15 Mar, 2008 12:00am
Allianz to break up Dresdner

Allianz to break up Dresdner

Allianz is preparing Dresdner Bank for a break-up and possible sale, a source told Reuters on Friday, a move that could end the marriage of the bank and insurer which many investors wished never happened.
Published 15 Mar, 2008 12:00am
Fuel-cell cars still far from showroom: Toyota

Fuel-cell cars still far from showroom: Toyota

Work is moving ahead to build a next-generation eco-friendly car running on fuel cells but it will take years to make it commercially viable, the head of auto giant Toyota said Thursday.
Published 15 Mar, 2008 12:00am
Sierra Leone open for business

Sierra Leone open for business

President Ernest Bai Koroma has pledged to open up Sierra Leone to foreign business to try to unlock the potential of its mineral reserves and miles of pristine beaches after a civil war.
Published 15 Mar, 2008 12:00am
Prudential reaches estimates with 25 percent rise

Prudential reaches estimates with 25 percent rise

British insurer Prudential met forecasts with a 25 percent rise in annual profit, fuelled by growth in Asia where it expects to double the value of new business in 2008, a year earlier than planned. Asia accounts for almost half Prudential's profit and an
Published 15 Mar, 2008 12:00am
Prudential reaches estimates with 25 percent rise

Prudential reaches estimates with 25 percent rise

British insurer Prudential met forecasts with a 25 percent rise in annual profit, fuelled by growth in Asia where it expects to double the value of new business in 2008, a year earlier than planned. Asia accounts for almost half Prudential's profit and an
Published 15 Mar, 2008 12:00am
Bang & Olufsen shares plunge after downgrade

Bang & Olufsen shares plunge after downgrade

Bang & Olufsen A/S, the Danish maker of sleek sound systems and high-priced TVs, slashed its profit forecast for a second time in three months on Friday, triggering a 20 percent plunge in its shares.
Published 15 Mar, 2008 12:00am
Bang & Olufsen shares plunge after downgrade

Bang & Olufsen shares plunge after downgrade

Bang & Olufsen A/S, the Danish maker of sleek sound systems and high-priced TVs, slashed its profit forecast for a second time in three months on Friday, triggering a 20 percent plunge in its shares.
Published 15 Mar, 2008 12:00am
Freer world trade benefits seen $120 billion a year

Freer world trade benefits seen $120 billion a year

Freer trade could bring benefits worth up to $120 billion a year to the world economy, according to a study on Thursday that dismisses growing unease about globalisation.
Published 15 Mar, 2008 12:00am
UniCredit backs off 2008 target in uncertain market

UniCredit backs off 2008 target in uncertain market

Europe's No 3 bank UniCredit said it could no longer promise 0.66 euros of earnings per share this year because market volatility cast uncertainty over its investment banking, sending shares to 2-1/2 year lows.
Published 15 Mar, 2008 12:00am
Porsche, Lower Saxony set for showdown at Volkswagen AGM

Porsche, Lower Saxony set for showdown at Volkswagen AGM

Volkswagen's two biggest investors proposed changes to the carmaker's statutes on Friday that set the stage for a showdown over shareholder rights at the annual general meeting (AGM) on April 24.
Published 15 Mar, 2008 12:00am
China's industrial output rises

China's industrial output rises

China's industrial production cooled down in early 2008 on weakening exports and the worst winter weather in half a century, official data showed Thursday. Industrial output, a measure of factory production in the world's fourth-largest economy, expanded
Published 15 Mar, 2008 12:00am
Jordan faces higher fiscal vulnerability: IMF

Jordan faces higher fiscal vulnerability: IMF

The International Monetary Fund has warned Jordan it faced worsening fiscal vulnerability if it fails to rein in growing public spending that critics say is driven by political rather than economic concerns, officials and politicians said on Thursday.
Published 15 Mar, 2008 12:00am
New Zealand shares dip

New Zealand shares dip

New Zealand share prices tumbled to close down 2.04 percent on Friday, ignoring a more positive day in most overseas markets, dealers said. The benchmark NZX-50 gross index dropped 73.00 points to 3,500.91 on turnover worth 115.2 million dollars (94.1 mil
Published 15 Mar, 2008 12:00am
Malaysian shares sag

Malaysian shares sag

Malaysian share prices closed 0.5 percent lower on Friday due to profit-taking on continued fears over the US economy and domestic political concerns, dealers said. The Kuala Lumpur Composite Index lost 6.51 points to 1,194.84 with a volume of 516 million
Published 15 Mar, 2008 12:00am
Hong Kong shares fall further

Hong Kong shares fall further

Hong Kong stocks piled on more losses on Friday, adding to the last session's sell-off, as investors remained on edge following more bad news about credit markets, while top Asian oil refiner Sinopec Corp sank on record crude prices.
Published 15 Mar, 2008 12:00am
US stocks surge

US stocks surge

US stocks rallied on Thursday after a major credit rating agency said the end to subprime-related write-downs is in sight, triggering a rebound in financial shares. Standard & Poor's said write-downs for large financial institutions are likely past the ha
Published 15 Mar, 2008 12:00am
US bonds retreat

US bonds retreat

US Treasury debt prices retreated rapidly on Thursday as stocks recovered on hopes a new federal housing initiative would ease the pain that has wreaked havoc on credit markets.
Published 15 Mar, 2008 12:00am
US bonds retreat

US bonds retreat

US Treasury debt prices retreated rapidly on Thursday as stocks recovered on hopes a new federal housing initiative would ease the pain that has wreaked havoc on credit markets.
Published 15 Mar, 2008 12:00am
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