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Apr 11, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-04-30
Ivorian cocoa arrivals up

Ivorian cocoa arrivals up

Cocoa arrivals at Ivory Coast's ports reached around 1,088,000 tonnes from October 1 to April 27, up over 10 percent year on year, shippers estimated on Tuesday, as the mid crop gathered pace despite quality concerns. The figure compared with 985,188 tonn
Published 30 Apr, 2008 12:00am
'Third party mediation to help resolve Kashmir problem'

'Third party mediation to help resolve Kashmir problem'

Former AJK Prime Minister and President, Jammu and Kashmir, People's Muslim League, Barrister Sultan Mahmood on Tuesday said that mediation of a third party is necessary to resolve Kashmir issue and European Union, in this regardm, can play an ineffective
Published 30 Apr, 2008 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 Tuesday (April 29, 2008).

Published 30 Apr, 2008 12:00am
Judges restoration: 'constitutional amendment required'

Judges restoration: 'constitutional amendment required'

Pakistan People's Party member of National Assembly, Sardar Asif Ahmed Ali has said that the restoration of judges will be impossible with the resolution, it needs a constitutional amendment. In his speech in an inauguration ceremony of paintings by India
Published 30 Apr, 2008 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 Tuesday (April 29, 2008).

Published 30 Apr, 2008 12:00am
'Nation waiting for judges' reinstatement'

'Nation waiting for judges' reinstatement'

Pakistan Muslim League-Nawaz (PML-N), Secretary General for International Affairs Committee, Sheikh Kaiser Mahmood has said that decisions on all national issues will be taken in the parliament. Speaking at a meeting on Tuesday, he said that after release
Published 30 Apr, 2008 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 Tuesday (April 29, 2008).

Published 30 Apr, 2008 12:00am
Pakistani entrepreneurs urged to avail vast Czech trade opportunities

Pakistani entrepreneurs urged to avail vast Czech trade opportunities

The Czech Republic has huge business opportunities for potential Pakistani businessmen in the power, textile, pharmaceutical, leather and construction sectors and Czech businessmen are ready to initiate joint ventures with their Pakistani counterparts for
Published 30 Apr, 2008 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 30 Apr, 2008 12:00am
High-tension wires tied to trees

High-tension wires tied to trees

For lack of an electric pole, Mepco Liaqatpur staffers have tied high-tension electricity wires with a tree. Due to the fact that electric poles are few and far apart between Bhatti Chowk and Liaqatpur, 11000LV power wires which were hanging low and loose
Published 30 Apr, 2008 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 30 Apr, 2008 12:00am
Hussain appointed BoP acting president

Hussain appointed BoP acting president

The Bank of Punjab (BoP) board of directors has appointed General Manager (SME Products) Sajjad Hussain its acting president. Hussain is a seasoned banker and has been in the bank since 1993. He served in the capacity of regional head, chief manager, in-c
Published 30 Apr, 2008 12:00am
Arms recovered

Arms recovered

Security forces recovered arms from a house in a raid conducted in Zhar Karez refugee camp during the wee hours of Tuesday morning, officials said. Raid was conducted on a tip-off. The security forces recovered two hand grenades, two rocket shells, 200 ro
Published 30 Apr, 2008 12:00am
New York cotton

New York cotton

Monday's closing prices of New York cotton in US cents/lb.

Published 30 Apr, 2008 12:00am
Business delegation participates in WIEF

Business delegation participates in WIEF

A 32-member high level business delegation led by Tariq Sayed, President Saarc Chamber of Commerce and Industry, is attending fourth World Islamic Economic Forum (WIEF), which commenced on April 29 in Kuwait.
Published 30 Apr, 2008 12:00am
New York cotton

New York cotton

Monday's closing prices of New York cotton in US cents/lb.

Published 30 Apr, 2008 12:00am
Navy to be strengthened to meet security challenges: Prime Minister

Navy to be strengthened to meet security challenges: Prime Minister

Prime Minister Syed Yusuf Raza Gilani said on Tuesday the government would strengthen Pakistan Navy to make it an effective force capable of meeting security challenges. During his visit to Naval Headquarters, the Prime Minister said he fully realised the
Published 30 Apr, 2008 12:00am
Merkel warns against too close energy ties with Iran

Merkel warns against too close energy ties with Iran

German Chancellor Angela Merkel said Tuesday she was "sceptical" about countries forming energy and trading ties with Iran which could end up making them count too much on Tehran. "I am sceptical about too much dependency vis-a-vis Iran," she told journal
Published 30 Apr, 2008 12:00am
Plan to compile data of destitute children in Punjab

Plan to compile data of destitute children in Punjab

Punjab government has decided to carry out a comprehensive survey for compiling complete data of child beggars, destitute and street children in each district of the Punjab. Official sources told Business Recorder here on Tuesday that the governmen
Published 30 Apr, 2008 12:00am
South Korea downbeat on economy for 2008-2009

South Korea downbeat on economy for 2008-2009

South Korea's economy will remain weak until next year but will recover momentum afterwards when the government's growth-oriented policy starts to take effect, a deputy finance minister said on Tuesday.
Published 30 Apr, 2008 12:00am
SETC celebrates 28th anniversary

SETC celebrates 28th anniversary

A colourful and impressive function was held to mark the 28th anniversary of Special Education and Training Centre (SETC) for mentally and emotionally handicapped children here on Tuesday. Begum Qazi Humayun Farid, wife of the Consul General Bangladesh fo
Published 30 Apr, 2008 12:00am
Deutsche suffers first quarter loss

Deutsche suffers first quarter loss

Deutsche Bank suffered its first quarterly loss in five years on Tuesday as global financial turmoil heaped 2.7 billion euros ($4.2 billion) in writedowns on Germany's biggest listed bank. Chief Executive Josef Ackermann shied away from restating his annu
Published 30 Apr, 2008 12:00am
Inter College, University Software Exhibition starts

Inter College, University Software Exhibition starts

The 7th All Pakistan Inter College/University Software Exhibition and Competition (COMPPEC 2008) was inaugurated here by Dr Noor Muhammad Butt, Chairman Pakistan Science Foundation, says a press release.
Published 30 Apr, 2008 12:00am
Deutsche suffers first quarter loss

Deutsche suffers first quarter loss

Deutsche Bank suffered its first quarterly loss in five years on Tuesday as global financial turmoil heaped 2.7 billion euros ($4.2 billion) in writedowns on Germany's biggest listed bank. Chief Executive Josef Ackermann shied away from restating his annu
Published 30 Apr, 2008 12:00am
AIOU announces exams schedule

AIOU announces exams schedule

The Allama Iqbal Open University (AIOU) has announced the exam schedule for Autumn Semester 2007, which will start from May 15. Dispatch of roll number slips to the students of PTC, CT, ATTC and B-Ed programmes are in progress, Controller of Exams AIOU sa
Published 30 Apr, 2008 12:00am
Paulson says no interest in second stimulus plan

Paulson says no interest in second stimulus plan

US Treasury Secretary Henry Paulson said on Monday that he was focused on getting economic stimulus payments to consumers quickly to boost the economy and had no interest in a second stimulus plan.
Published 30 Apr, 2008 12:00am
MoU signed for academic cooperation

MoU signed for academic cooperation

The International Islamic University (IIU) has signed a Memorandum of Understanding (MoU) with the University of Wales Newport, United Kingdom, for extending academic cooperation between the two universities.
Published 30 Apr, 2008 12:00am
Anti-corruption watchdog criticises energy giants

Anti-corruption watchdog criticises energy giants

Many oil and gas companies fail to fully disclose their profits or fees they pay to governments for extraction rights, leaving the door open to corruption, Transparency International has said. The anti-corruption watchdog said its latest report showed US
Published 30 Apr, 2008 12:00am
CoAS confers awards on officers

CoAS confers awards on officers

The special investiture ceremony of General Headquarters was held at the Army Auditorium to confer awards of "Tamgha-i-Jurrat" and Tamgha-i-Basalat to the officers and Next of Kin of Shaheed Officers, Junior Commissioned Officers and Jawans. Chief of Army
Published 30 Apr, 2008 12:00am
Ahmadinejad launches Sri Lanka refinery upgrade

Ahmadinejad launches Sri Lanka refinery upgrade

Iranian President Mahmoud Ahmadinejad launched a project to boost the capacity of Sri Lanka's main oil refinery on Tuesday, part of a $1.5 billion loan to the government as Iran extends its energy ties in South Asia.
Published 30 Apr, 2008 12:00am
Hangu SHO suspended

Hangu SHO suspended

North West Frontier Province (NWFP) IGP Malik Naveed Khan, while taking strong notice of the Hangu incident, has removed SHO Hangu from his post and constituted a joint high-level inquiry team to probe into the matter and fix responsibilities.
Published 30 Apr, 2008 12:00am
Market crisis tips Deutsche Bank into red

Market crisis tips Deutsche Bank into red

Deutsche Bank AG suffered its first quarterly loss in five years as global financial turmoil heaped more than $4 billion in writedowns on the bank and market ructions put a brake on earnings.
Published 30 Apr, 2008 12:00am
Senate being ignored by political parties: Pirzada

Senate being ignored by political parties: Pirzada

"Nothing will happen", said Senator Latif Khosa, advocate, in response to a query of senior lawyer Abdul Hafeez Pirzada regarding government's efforts to keep the constitution intact. Khosa said this in Supreme Court here on Tuesday during the hearing of
Published 30 Apr, 2008 12:00am
British Airways to increase fuel surcharge for plane tickets

British Airways to increase fuel surcharge for plane tickets

British Airways said Tuesday it would hike its fuel surcharge on long-haul and short-haul airfares due to soaring oil prices that increase the cost of kerosene or jet fuel. The price of New York's light, sweet crude oil had struck a record high 119.93 dol
Published 30 Apr, 2008 12:00am
UNDP's assistance in tackling environmental issues

UNDP's assistance in tackling environmental issues

Pakistan in collaboration with United Nation Development Programme (UNDP) has executed 'Protection and Management of Pakistan Wetland Project' costing 11,792,000 dollars and 'Mountain Area Conservancy Project' (MACP) costing 10,350,000 dollars.
Published 30 Apr, 2008 12:00am
General Motors to cut truck production, negotiate union layoffs

General Motors to cut truck production, negotiate union layoffs

General Motors Corp said on Monday it would cut truck production at four North American plants in the coming quarter because of weaker demand for its full-size pickup trucks and sport utility vehicles. GM said it would eliminate one shift of planned produ
Published 30 Apr, 2008 12:00am
Businessmen invited to invest in Dominican Republic

Businessmen invited to invest in Dominican Republic

Ambassador of the Dominican Republic to India Hans Dannenberg Castellanos has invited Pakistan business community to visit Dominican Republic to see business and investment opportunities in that country. Speaking at a meeting of Karachi Chamber of Commerc
Published 30 Apr, 2008 12:00am
US woes, inflation may hit Philippines budget: Arroyo

US woes, inflation may hit Philippines budget: Arroyo

The US slowdown and soaring food and energy prices were likely to hit the Philippine's bid for a balanced budget in 2008, President Gloria Arroyo conceded for the first time Tuesday.
Published 30 Apr, 2008 12:00am
New parliament can make changes in NFC award: Dar

New parliament can make changes in NFC award: Dar

The government has said that the new parliament can make changes to a 'controversial' National Finance Commission (NFC) award which President Pervez Musharraf announced two years ago but does not exhibit an urge for that ahead of next budget due in June.
Published 30 Apr, 2008 12:00am
ANP and PPP activists among seven killed in various incidents

ANP and PPP activists among seven killed in various incidents

Seven people including an activist of Pakistan People's Party and Awami National Party were killed in the city here on Tuesday in different incidents. A trader was killed dramatically by two unknown gunmen at Baloch Colony area.
Published 30 Apr, 2008 12:00am
Weak UK economic data bolster rate cut bets

Weak UK economic data bolster rate cut bets

Approvals for new home loans in Britain fell to their lowest level on record in March pointing to more housing market gloom while retailers reported a slide in high-street sales in April, data showed on Tuesday.
Published 30 Apr, 2008 12:00am
PPP-MQM power sharing formula yet to be finalised: Nafees

PPP-MQM power sharing formula yet to be finalised: Nafees

General Secretary Pakistan Peoples Party (PPP) Sindh Nafees Siddiqui has said that power sharing formula with Muttahida Quami Movement (MQM) has not yet been finalised. However, he added, negotiations are going on.
Published 30 Apr, 2008 12:00am
FOB Gulf soya weaker

FOB Gulf soya weaker

US FOB Gulf soyabean basis offers were lower on Monday amid signs that export demand will remain weak and Argentine farmers will remain at the bargaining table rather than resume their strike, traders said. Three locks on the upper Mississippi River have
Published 30 Apr, 2008 12:00am
GEF and ADB to support Asia's Coral Triangle preservation

GEF and ADB to support Asia's Coral Triangle preservation

The Global Environment Facility (GEF) and the Asian Development Bank (ADB) are joining hands to support the preservation of Asia's Coral Triangle, with the GEF committing US $63 million to fund conservation of this area known as 'the Amazon of the seas'.
Published 30 Apr, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 113,570 tonnes cargo including 70,756 tonnes import, 42,814 tonnes export cargo and 4,229 containers (TEUs) during last 24 hours ending at 0700 hours on Tuesday. The cargoes comprised of 99,768 tonnes dry cargo including 58,061 to
Published 30 Apr, 2008 12:00am
KASB acquires equity stake in Shakarganj Food

KASB acquires equity stake in Shakarganj Food

KASB Capital Limited, local partner of Merrill Lynch, and brokerage, investment banking and asset management arm of the group, has announced that it has acquired an equity stake in Shakarganj Food Products Limited (SFPL), a public unlisted company involve
Published 30 Apr, 2008 12:00am
Top Kenyan coffee lots command high prices

Top Kenyan coffee lots command high prices

The very best lots of Kenyan coffee fetched premium prices at Tuesday's auction, which was characterised by inferior quality beans as the weekly sale draws to a close, exporters said. "Prices were very high considering the amount and quality on offer," sa
Published 30 Apr, 2008 12:00am
WorldCall Telecom issues shares to Amatis

WorldCall Telecom issues shares to Amatis

The WorldCall Telecom Limited has issued 53,738,212 ordinary shares of Rs 10/- each to Amatis Limited pursuant to the Loan Agreement. In a notice sent to Karachi Stock Exchange (KSE), the company said that the paid up capital of the company is increased f
Published 30 Apr, 2008 12:00am
US Midwest soyabean higher, corn steady

US Midwest soyabean higher, corn steady

US Midwest spot soyabean basis bids were steady to higher on Monday amid slow farmer selling and a slump in CBOT futures, while corn was mostly steady, traders said. Farmers across large swaths of the Midwest were planting their corn crop. Most of them ha
Published 30 Apr, 2008 12:00am
HSBC Pakistan launches credit card

HSBC Pakistan launches credit card

The Hongkong and Shanghai Banking Corporation Limited (HSBC) Pakistan on Tuesday launched its credit card under the organic growth programme. Deputy Chairman and Chief Executive Officer of HSBC Bank Middle East, Youssef A Nasr was the chief guest at the l
Published 30 Apr, 2008 12:00am
US wheat futures rally sharply

US wheat futures rally sharply

US wheat futures rallied sharply on Monday, with values on the Chicago Board of Trade rebounding from five-month lows on spillover strength from the soaring corn market, traders said. Wheat was technically oversold and due for a short-covering bounce afte
Published 30 Apr, 2008 12:00am
Benazir assassination: S M Zafar criticised for opposing UN probe

Benazir assassination: S M Zafar criticised for opposing UN probe

Leader of the House in Senate Mian Raza Rabbani on Tuesday snubbed PML-Q legislator S. M. Zafar for opposing the government intention to approach the United Nations for a probe into the murder of PPP slain chairperson Benazir Bhutto.
Published 30 Apr, 2008 12:00am
HRW wheat bids steady

HRW wheat bids steady

US Plains hard red winter wheat basis values were holding steady on Tuesday, with light mill demand noted and offers thin. Protein premiums for railcar wheat to and through Kansas City were steady. Crop conditions continued to be top-of-mind for producers
Published 30 Apr, 2008 12:00am
'TeleCon 2008' congress begins

'TeleCon 2008' congress begins

Pakistan's first global telecommunication congress, "TeleCon 2008" began on Tuesday at a local hotel with participation from a large number of telecom companies of the country.
Published 30 Apr, 2008 12:00am
Canadian canola pressured by allied US soya complex

Canadian canola pressured by allied US soya complex

Canadian canola futures were lower on Monday as pressure from the allied US soya complex spilled over into the market, which has suffered from a lack of export demand in recent weeks, traders said. "There was nothing extraordinary: it was all following Ch
Published 30 Apr, 2008 12:00am
Girl allowed to undergo gender reassignment surgery

Girl allowed to undergo gender reassignment surgery

The Lahore High Court has allowed a girl to undergo gender reassignment surgery. The girl named Naureen Aslam sought legal protection to her surgery since her doctors had refused her because of a similar recent case.
Published 30 Apr, 2008 12:00am
US copper lower

US copper lower

US copper futures ended up on Monday, bolstered by higher crude oil prices, a protracted mine strike in Chile and expectations of a fresh cut in US interest rates this week. Active May copper settled up 2.00 cent, or 0.51 percent, at $3.9355 lb on the Com
Published 30 Apr, 2008 12:00am
Rice prices 'unreasonable', seen easing: FAO

Rice prices 'unreasonable', seen easing: FAO

Rice prices are expected to ease as leading producing and exporting countries are rushing to boost output, but the market is unlikely to return to levels seen in recent years, the Asia head of the urn's Food and Agriculture Organisation said on Tuesday.
Published 30 Apr, 2008 12:00am
Eight-member PC Board reconstituted

Eight-member PC Board reconstituted

Prime Minister Syed Yousuf Raza Gillani has reconstituted the Board of Privatisation Commission. Syed Naveed Qamar Federal Minister for Privatisation, Investment, Ports, Shipping, Industries & Production will head the PC Board as its Chairman.
Published 30 Apr, 2008 12:00am
Rice slumps as Thailand taps stocks; corn climbs

Rice slumps as Thailand taps stocks; corn climbs

US rice futures fell more than 2.5 percent on Tuesday, deepening a retreat from last week's record high as top exporter Thailand said it would release government stocks and traders looked ahead to Asian harvests.
Published 30 Apr, 2008 12:00am
Eight-member PC Board reconstituted

Eight-member PC Board reconstituted

Prime Minister Syed Yousuf Raza Gillani has reconstituted the Board of Privatisation Commission. Syed Naveed Qamar Federal Minister for Privatisation, Investment, Ports, Shipping, Industries & Production will head the PC Board as its Chairman.
Published 30 Apr, 2008 12:00am
Malaysia mulls subsidy for local rice: paper

Malaysia mulls subsidy for local rice: paper

Malaysia is considering subsidising the price of locally produced rice to ensure the poor can afford the staple, The Star newspaper reported on Tuesday, quoting Domestic Trade Minister Shahrir Samad. Malaysia effectively controls rice prices through state
Published 30 Apr, 2008 12:00am
Eight-member PC Board reconstituted

Eight-member PC Board reconstituted

Prime Minister Syed Yousuf Raza Gillani has reconstituted the Board of Privatisation Commission. Syed Naveed Qamar Federal Minister for Privatisation, Investment, Ports, Shipping, Industries & Production will head the PC Board as its Chairman.
Published 30 Apr, 2008 12:00am
Indonesian palm oil falls

Indonesian palm oil falls

Indonesian palm oil prices fell on Tuesday, dragged down by losses in Malaysian crude palm oil, but there was some buying interest due to easing prices. Crude palm oil at the state marketing centre in Jakarta was sold at 9,765 rupiah ($1.06) a kg, down fr
Published 30 Apr, 2008 12:00am
China set to import more palm oil

China set to import more palm oil

China is likely to import more palm oil because of continuing global soyoil supply tightness largely caused by the Argentine farmers' strike, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
Published 30 Apr, 2008 12:00am
Local firm bids lowest in Bangladesh wheat tender

Local firm bids lowest in Bangladesh wheat tender

Smile Food Products, a Bangladesh firm, quoted the lowest price of $446 per tonne in a Bangladesh import tender to supply 70,000 tonnes of wheat on Tuesday, a trader said. The tender to import 100,000 tonnes of wheat floated by the Food and Disaster Manag
Published 30 Apr, 2008 12:00am
Soya falls on possible Argentine talk

Soya falls on possible Argentine talk

US soyabean futures on the Chicago Board of Trade nose dived on Monday, falling 3 percent as signs that Argentine farm leaders might extend a May 2 deadline for talks with government to avert the resumption of a strike that stalled soya movement, traders
Published 30 Apr, 2008 12:00am
New York sugar down

New York sugar down

Raw sugar futures finished easier on Monday on investor liquidation after the rise stalled, with the trade focusing on the coming expiration of the spot May contract, brokers said.
Published 30 Apr, 2008 12:00am
Oil falls to $118

Oil falls to $118

Oil fell towards $118 on Tuesday after hitting a record a day ago as the Grangemouth refinery in Scotland reopened from a two-day strike that had shut down a pipeline that carris about half of Britain's crude supply. US light crude for June delivery fell
Published 30 Apr, 2008 12:00am
Siemens declares 300 percent interim dividend

Siemens declares 300 percent interim dividend

The after-tax profit of Siemens (Pakistan) Engineering Company Limited increased to Rs 531.276 million in the quarter ended on March 31, 2008 against Rs 460.556 million earned in the corresponding period of last year.
Published 30 Apr, 2008 12:00am
US rice futures slide 50-cent limit

US rice futures slide 50-cent limit

US rough rice futures on the Chicago Board of Trade closed down the maximum daily trading limit in the front four months on Monday, pressured by profit-taking after last week's bearish technical moves, traders said. The front four months settled 50 cents
Published 30 Apr, 2008 12:00am
Siemens declares 300 percent interim dividend

Siemens declares 300 percent interim dividend

The after-tax profit of Siemens (Pakistan) Engineering Company Limited increased to Rs 531.276 million in the quarter ended on March 31, 2008 against Rs 460.556 million earned in the corresponding period of last year.
Published 30 Apr, 2008 12:00am
Malaysian palm oil weaker

Malaysian palm oil weaker

Malaysian crude palm oil futures dropped 4.6 percent on Tuesday, almost hitting a three-week low as vegetable oil prices weakened and on concerns that growth in exports had stalled. Palm oil prices, which have meandered for the past two weeks, are weakeni
Published 30 Apr, 2008 12:00am
SNGPL first quarter profit falls to Rs 336 million

SNGPL first quarter profit falls to Rs 336 million

The profit after-tax of Sui Northern Gas Pipelines Limited (SNGPL) has declined to Rs 336 million in the quarter ended March 31, 2008 as compared to Rs 629 million earned in the corresponding period last year.
Published 30 Apr, 2008 12:00am
Indian soyoil eased

Indian soyoil eased

Indian soyoil futures eased on Tuesday, tracking losses in Malaysian palm oil that fell sharply as global vegetable prices weakened and on concerns that growth in exports were limited. At 3:07 pm (0937 GMT), May futures on the National Commodity and Deriv
Published 30 Apr, 2008 12:00am
SNGPL first quarter profit falls to Rs 336 million

SNGPL first quarter profit falls to Rs 336 million

The profit after-tax of Sui Northern Gas Pipelines Limited (SNGPL) has declined to Rs 336 million in the quarter ended March 31, 2008 as compared to Rs 629 million earned in the corresponding period last year.
Published 30 Apr, 2008 12:00am
Gold dips in Asian market

Gold dips in Asian market

Gold eased on Tuesday as investors turned their back on the metal ahead this week's Federal Reserve meeting on interest rates, which may offer directions to the dollar and precious metals. Gold often takes cue from movements in the dollar because of its r
Published 30 Apr, 2008 12:00am
Hubco profit declines to Rs 651.721 million

Hubco profit declines to Rs 651.721 million

The profit of Hub Power Company Limited has declined to Rs 651.721 million in the quarter ended March 31, 2008 as compared to Rs 775.236 million in the corresponding period in 2007. The company's earning per share stood at Rs 0.56 in the period under revi
Published 30 Apr, 2008 12:00am
US gold futures higher

US gold futures higher

US gold futures ended higher on Monday on the back of strong physical demand following a 3 percent drop last week, as bullion continued to search for a platform ahead of a rate-setting decision by the Federal Reserve.
Published 30 Apr, 2008 12:00am
Hubco profit declines to Rs 651.721 million

Hubco profit declines to Rs 651.721 million

The profit of Hub Power Company Limited has declined to Rs 651.721 million in the quarter ended March 31, 2008 as compared to Rs 775.236 million in the corresponding period in 2007. The company's earning per share stood at Rs 0.56 in the period under revi
Published 30 Apr, 2008 12:00am
CRCLP signs MoU with Malaysian company

CRCLP signs MoU with Malaysian company

The Capital Reinsurance Company Limited Pakistan (CRCLP) has managed to obtain extra reinsurance capacity from Labuan Reinsurance Company Limited Malaysia. In this regard, a Memorandum of Understanding (MoU) was signed between Capital Reinsurance Limited
Published 30 Apr, 2008 12:00am
Licences of two exchange companies suspended

Licences of two exchange companies suspended

The State Bank of Pakistan has suspended the licences of two exchange companies for violations of its rules & regulations. Time Exchange Company-B (Pvt) Limited, Karachi and Union Exchange Company-B (Pvt) Limited, Lahore have been suspended for a period o
Published 30 Apr, 2008 12:00am
Morgan Stanley hikes 2010/11 raw sugar price forecast

Morgan Stanley hikes 2010/11 raw sugar price forecast

Investment bank Morgan Stanley has raised its forecast for the average raw sugar price in 2010/11 to 18.6 cents a lb, up from its previous forecast of 17.1 cents. ICE May raw sugar futures were up 0.16 cent or 1.4 percent to 11.53 cents a lb at 0925 GMT o
Published 30 Apr, 2008 12:00am
PBIC assigned 'AA', 'A1+' ratings

PBIC assigned 'AA', 'A1+' ratings

The Pakistan Credit Rating Agency (Pacra) has assigned long-term and short-term entity ratings of 'AA' (Double A) and 'A1+' (A One Plus), respectively, to Pak Brunei Investment Company Limited (PBIC), says a press release. These ratings indicate a very lo
Published 30 Apr, 2008 12:00am
PBIC assigned 'AA', 'A1+' ratings

PBIC assigned 'AA', 'A1+' ratings

The Pakistan Credit Rating Agency (Pacra) has assigned long-term and short-term entity ratings of 'AA' (Double A) and 'A1+' (A One Plus), respectively, to Pak Brunei Investment Company Limited (PBIC), says a press release. These ratings indicate a very lo
Published 30 Apr, 2008 12:00am
Brazilian soya crop smaller than expected: Oil World

Brazilian soya crop smaller than expected: Oil World

Brazil's 2008 soyabean crop is forecast at 60.8 million tonnes, down from a previous estimate of 61.4 million tonnes, Hamburg-based oilseeds analysts Oil World said on Tuesday. But the crop would still be higher than the 58.73 million tonnes harvested in
Published 30 Apr, 2008 12:00am
Prices seen at high level on cotton market

Prices seen at high level on cotton market

Speculative buying was witnessed on the cotton market on Tuesday as some profit seekers were trying to manipulate the situation according to their circumstances following the short crop scenario, brokers said. The Karachi Cotton Association (KCA) official
Published 30 Apr, 2008 12:00am
LDDB working on new plan for animal breeders

LDDB working on new plan for animal breeders

The Livestock and Dairy Development Board (LDDB) is working on a new scheme under its dairy development initiatives to help quality animal breeders and progressive farmers in farm improvement to enhance milk production as well as capacity building of thes
Published 30 Apr, 2008 12:00am
Vietnam coffee: rains start on time; sales slow

Vietnam coffee: rains start on time; sales slow

The rainy season has begun on time in Vietnam's Central Highlands coffee belt, enabling farmers to cut the cost of watering their crops, while coffee sales have slowed as prices stabilised. Coffee farmers have been watering and fertilising trees since Feb
Published 30 Apr, 2008 12:00am
Emirates Global becomes first Pakistani bank to use CRM system

Emirates Global becomes first Pakistani bank to use CRM system

Emirates Global Islamic Bank Ltd (EGIBL) has become first Pakistani bank to deploy an integrated Customer Relationship Management (CRM) system. EGIBL has gone live with Siebel CRM, enabling itself to significantly improve customer service and leverage its
Published 30 Apr, 2008 12:00am
New York coffee settles higher

New York coffee settles higher

Arabica coffee futures trading on ICE settled firm on Monday, after boost from fund buying on the back of other firm commodities and the weak dollar amid light dealings, traders said. "Looks like (funds) ran some stops correlated with moving averages," on
Published 30 Apr, 2008 12:00am
Pakistani doctors for Fellowship training in Saudi Arabia

Pakistani doctors for Fellowship training in Saudi Arabia

A unique avenue for export of skilled and knowledge based human resources of Pakistan would open up when a batch of Pakistani doctors would leave for Saudi Arabia in the last week of May to join a Fellowship training programme at King Fahad Medical City (
Published 30 Apr, 2008 12:00am
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