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Print - 2008-05-13
'Interbank, kerb market behaviour against fundamentals'

'Interbank, kerb market behaviour against fundamentals'

State Bank of Pakistan Governor Dr Shamshad Akhtar on Monday said that the interbank and kerb market behaviour has not been in line with market fundamentals and reflects distortions created by trading and speculative practices which do creep in under the
Published 13 May, 2008 12:00am
WT abolition, tax relief cost exchequer Rs 300 billion: Pasha

WT abolition, tax relief cost exchequer Rs 300 billion: Pasha

The abolition of wealth tax and other tax concessions have caused a huge loss of Rs 300 billion to the exchequer, said Dr Hafiz A Pasha, former provincial minister and a former deputy chairman of the Planning Commission. Speaking at a launching ceremony o
Published 13 May, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (May 12, 2008).

Published 13 May, 2008 12:00am
WT abolition, tax relief cost exchequer Rs 300 billion: Pasha

WT abolition, tax relief cost exchequer Rs 300 billion: Pasha

The abolition of wealth tax and other tax concessions have caused a huge loss of Rs 300 billion to the exchequer, said Dr Hafiz A Pasha, former provincial minister and a former deputy chairman of the Planning Commission. Speaking at a launching ceremony o
Published 13 May, 2008 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (May 12, 2008).

Published 13 May, 2008 12:00am
WT abolition, tax relief cost exchequer Rs 300 billion: Pasha

WT abolition, tax relief cost exchequer Rs 300 billion: Pasha

The abolition of wealth tax and other tax concessions have caused a huge loss of Rs 300 billion to the exchequer, said Dr Hafiz A Pasha, former provincial minister and a former deputy chairman of the Planning Commission. Speaking at a launching ceremony o
Published 13 May, 2008 12:00am
Press freedom subject to some restrictions: Supreme Court

Press freedom subject to some restrictions: Supreme Court

The Supreme Court on Monday directed the print and electronic media not to publish any news or telecast such programmes or discussions, having derogatory remarks about judiciary, saying that the freedom of speech was subject to some restrictions.
Published 13 May, 2008 12:00am
Press freedom subject to some restrictions: Supreme Court

Press freedom subject to some restrictions: Supreme Court

The Supreme Court on Monday directed the print and electronic media not to publish any news or telecast such programmes or discussions, having derogatory remarks about judiciary, saying that the freedom of speech was subject to some restrictions.
Published 13 May, 2008 12:00am
THE RUPEE: losses reduced on interbank market

THE RUPEE: losses reduced on interbank market

Directives by the State Bank of Pakistan (SBP) to ward off speculative trade in the currency market, helped the rupee to minimise its losses versus the dollar, money experts said.
Published 13 May, 2008 12:00am
Pakistanis to decide judges & other issues themselves: US

Pakistanis to decide judges & other issues themselves: US

The United States on Monday said the issues of Supreme Court judges' restoration and political arrangements are matters for Pakistanis to decide and reaffirmed its resolve to work with the government.
Published 13 May, 2008 12:00am
THE RUPEE: losses reduced on interbank market

THE RUPEE: losses reduced on interbank market

Directives by the State Bank of Pakistan (SBP) to ward off speculative trade in the currency market, helped the rupee to minimise its losses versus the dollar, money experts said.
Published 13 May, 2008 12:00am
Pakistanis to decide judges & other issues themselves: US

Pakistanis to decide judges & other issues themselves: US

The United States on Monday said the issues of Supreme Court judges' restoration and political arrangements are matters for Pakistanis to decide and reaffirmed its resolve to work with the government.
Published 13 May, 2008 12:00am
War on terror: US will continue providing required assistance

War on terror: US will continue providing required assistance

Lieutenant General Martin E. Dempsey, Acting Commander US CENTCOM who is on a scheduled visit to Pakistan, visited General Headquarters and called on the Chief of Army Staff (COAS), General Ashfaq Parvez Kayani on Monday. The visiting dignitary remained w
Published 13 May, 2008 12:00am
War on terror: US will continue providing required assistance

War on terror: US will continue providing required assistance

Lieutenant General Martin E. Dempsey, Acting Commander US CENTCOM who is on a scheduled visit to Pakistan, visited General Headquarters and called on the Chief of Army Staff (COAS), General Ashfaq Parvez Kayani on Monday. The visiting dignitary remained w
Published 13 May, 2008 12:00am
All shares index report

All shares index report

The sector-wise all shares index report on Monday (May 12, 2008).

Published 13 May, 2008 12:00am
Dubai police seize 24kg of heroin

Dubai police seize 24kg of heroin

Dubai police said on Monday they had seized 24 kilos (around 53 pounds) of heroin with a street value of 1.6 million dollars and broken up a drug network led by three Asians.
Published 13 May, 2008 12:00am
Dubai police seize 24kg of heroin

Dubai police seize 24kg of heroin

Dubai police said on Monday they had seized 24 kilos (around 53 pounds) of heroin with a street value of 1.6 million dollars and broken up a drug network led by three Asians.
Published 13 May, 2008 12:00am
JP Morgan chief executive warns long slump may follow crunch

JP Morgan chief executive warns long slump may follow crunch

J.P. Morgan Chase & Co Chairman and Chief Executive Jamie Dimon on Monday told bank investors that while the current credit market crunch may soon be over, the US economy could still face a deep and extended recession.
Published 13 May, 2008 12:00am
JP Morgan chief executive warns long slump may follow crunch

JP Morgan chief executive warns long slump may follow crunch

J.P. Morgan Chase & Co Chairman and Chief Executive Jamie Dimon on Monday told bank investors that while the current credit market crunch may soon be over, the US economy could still face a deep and extended recession.
Published 13 May, 2008 12:00am
JP Morgan chief executive warns long slump may follow crunch

JP Morgan chief executive warns long slump may follow crunch

J.P. Morgan Chase & Co Chairman and Chief Executive Jamie Dimon on Monday told bank investors that while the current credit market crunch may soon be over, the US economy could still face a deep and extended recession.
Published 13 May, 2008 12:00am
Traders object to unilateral pricing of imported items

Traders object to unilateral pricing of imported items

The business community has alleged that the Directorate-General of Customs Valuation, Karachi, has unilaterally issued valuation ruling on customs duty assessment on import of certain goods, without obtaining viewpoint of the concerned associations.
Published 13 May, 2008 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 13 May, 2008 12:00am
Traders object to unilateral pricing of imported items

Traders object to unilateral pricing of imported items

The business community has alleged that the Directorate-General of Customs Valuation, Karachi, has unilaterally issued valuation ruling on customs duty assessment on import of certain goods, without obtaining viewpoint of the concerned associations.
Published 13 May, 2008 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 13 May, 2008 12:00am
Traders object to unilateral pricing of imported items

Traders object to unilateral pricing of imported items

The business community has alleged that the Directorate-General of Customs Valuation, Karachi, has unilaterally issued valuation ruling on customs duty assessment on import of certain goods, without obtaining viewpoint of the concerned associations.
Published 13 May, 2008 12:00am
Shares buy-back schedule

Shares buy-back schedule

Shares buy-back schedule of listed companies on Monday (May 12, 2008).

Published 13 May, 2008 12:00am
Orascom chief meets President

Orascom chief meets President

President Pervez Musharraf on Monday said the economic reforms in the country have created an enabling environment for foreign entrepreneurs. The President was talking to Naguib Sawiris, Orascom Chief here at the President''s Lodge.
Published 13 May, 2008 12:00am
Orascom chief meets President

Orascom chief meets President

President Pervez Musharraf on Monday said the economic reforms in the country have created an enabling environment for foreign entrepreneurs. The President was talking to Naguib Sawiris, Orascom Chief here at the President's Lodge.
Published 13 May, 2008 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 13 May, 2008 12:00am
Orascom chief meets President

Orascom chief meets President

President Pervez Musharraf on Monday said the economic reforms in the country have created an enabling environment for foreign entrepreneurs. The President was talking to Naguib Sawiris, Orascom Chief here at the President's Lodge.
Published 13 May, 2008 12:00am
Reap to give 13,000 tonnes of rice to USC

Reap to give 13,000 tonnes of rice to USC

The Rice Exporters Association of Pakistan (Reap) will provide over 13,000 tonnes of fine quality rice to Utility Stores Corporation (USC) in the current month to facilitate the domestic consumers throughout the country.
Published 13 May, 2008 12:00am
Reap to give 13,000 tonnes of rice to USC

Reap to give 13,000 tonnes of rice to USC

The Rice Exporters Association of Pakistan (Reap) will provide over 13,000 tonnes of fine quality rice to Utility Stores Corporation (USC) in the current month to facilitate the domestic consumers throughout the country.
Published 13 May, 2008 12:00am
Reap to give 13,000 tonnes of rice to USC

Reap to give 13,000 tonnes of rice to USC

The Rice Exporters Association of Pakistan (Reap) will provide over 13,000 tonnes of fine quality rice to Utility Stores Corporation (USC) in the current month to facilitate the domestic consumers throughout the country.
Published 13 May, 2008 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (May 12, 2008).
Published 13 May, 2008 12:00am
Chad closes border with Sudan

Chad closes border with Sudan

Chad closed its border with Sudan on Monday, its government said, ramping up tensions between the volatile neighbours after Khartoum accused Ndjamena of backing a rebel assault on the Sudanese capital.
Published 13 May, 2008 12:00am
Bulls in command on ISE

Bulls in command on ISE

Bulls were in command of the proceedings at Islamabad Stock Exchange (ISE) on Monday where fresh buying spree in hot favourite moved the entire ready board in upward direction amid increase in index. ISE-10 Index showed an increase of 29.20 points from 3,
Published 13 May, 2008 12:00am
Bulls in command on ISE

Bulls in command on ISE

Bulls were in command of the proceedings at Islamabad Stock Exchange (ISE) on Monday where fresh buying spree in hot favourite moved the entire ready board in upward direction amid increase in index. ISE-10 Index showed an increase of 29.20 points from 3,
Published 13 May, 2008 12:00am
LSE index surges 61.64 points

LSE index surges 61.64 points

Helped by the oversold position of the market, equity prices climbed upward on the Lahore Stock Exchange (LSE) on Monday to eventually close with a net gain of 61.64 points, or 1.40 percent. The LSE-25 Index surged to 4,453.63 points from previous 4,391.9
Published 13 May, 2008 12:00am
LSE index surges 61.64 points

LSE index surges 61.64 points

Helped by the oversold position of the market, equity prices climbed upward on the Lahore Stock Exchange (LSE) on Monday to eventually close with a net gain of 61.64 points, or 1.40 percent. The LSE-25 Index surged to 4,453.63 points from previous 4,391.9
Published 13 May, 2008 12:00am
PPP to safeguard PML-N government in Punjab: Zardari

PPP to safeguard PML-N government in Punjab: Zardari

Pakistan Peoples Party Co-chairman Asif Ali Zardari said on Monday that his party would become the iron wall in Punjab against any elements, which would try to destabilise the PML-N government. Talking in a private TV programme, he said that PPP and PML-N
Published 13 May, 2008 12:00am
PPP to safeguard PML-N government in Punjab: Zardari

PPP to safeguard PML-N government in Punjab: Zardari

Pakistan Peoples Party Co-chairman Asif Ali Zardari said on Monday that his party would become the iron wall in Punjab against any elements, which would try to destabilise the PML-N government. Talking in a private TV programme, he said that PPP and PML-N
Published 13 May, 2008 12:00am
'As Pakistan changes, should US policy?'

'As Pakistan changes, should US policy?'

In a Washington datelined article, the Christian Science Monitor says that recent events reflect increased dissension between the US and Pakistan since the new government took over in Islamabad earlier this year. According to the publication, Pakistan has
Published 13 May, 2008 12:00am
'As Pakistan changes, should US policy?'

'As Pakistan changes, should US policy?'

In a Washington datelined article, the Christian Science Monitor says that recent events reflect increased dissension between the US and Pakistan since the new government took over in Islamabad earlier this year. According to the publication, Pakistan has
Published 13 May, 2008 12:00am
CPI inflation increases by 10.27 percent

CPI inflation increases by 10.27 percent

Pakistan faces worst food inflation with an increase of 25.50 per cent in the prices of staple food and beverages during April over the same period last year, ringing alarm bells for the government and increasing miseries of the masses.
Published 13 May, 2008 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (May 12, 2008).

Published 13 May, 2008 12:00am
CPI inflation increases by 10.27 percent

CPI inflation increases by 10.27 percent

Pakistan faces worst food inflation with an increase of 25.50 per cent in the prices of staple food and beverages during April over the same period last year, ringing alarm bells for the government and increasing miseries of the masses.
Published 13 May, 2008 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (May 12, 2008).
Published 13 May, 2008 12:00am
CPI inflation increases by 10.27 percent

CPI inflation increases by 10.27 percent

Pakistan faces worst food inflation with an increase of 25.50 per cent in the prices of staple food and beverages during April over the same period last year, ringing alarm bells for the government and increasing miseries of the masses.
Published 13 May, 2008 12:00am
China quake kills nearly 9,000

China quake kills nearly 9,000

A earthquake devastated south-western China on Monday, killing close to 9,000 people and trapping hundreds of others under flattened schools, factories and houses. The 7.8 magnitude quake, centred in Sichuan province, struck in the middle of the school da
Published 13 May, 2008 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 Monday (May 12, 2008).

Published 13 May, 2008 12:00am
China quake kills nearly 9,000

China quake kills nearly 9,000

A earthquake devastated south-western China on Monday, killing close to 9,000 people and trapping hundreds of others under flattened schools, factories and houses. The 7.8 magnitude quake, centred in Sichuan province, struck in the middle of the school da
Published 13 May, 2008 12:00am
Zardari to name new finance minister today

Zardari to name new finance minister today

Pakistan People's Party co-chairman Asif Zardari on Monday said that the name of new finance minister will be announced on Tuesday, a private TV channel reported. However, Asif Zardari did not reveal the name of the new finance minister.
Published 13 May, 2008 12:00am
Zardari to name new finance minister today

Zardari to name new finance minister today

Pakistan People's Party co-chairman Asif Zardari on Monday said that the name of new finance minister will be announced on Tuesday, a private TV channel reported. However, Asif Zardari did not reveal the name of the new finance minister.
Published 13 May, 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 Monday (May 12, 2008).

Published 13 May, 2008 12:00am
CGT levy, CVT raise likely for rich people

CGT levy, CVT raise likely for rich people

Hinting at imposition of capital gains tax (CGT) on capital market transactions, increase in capital value tax (CVT) on real estate, and increase in income tax for higher income groups Finance Minister Ishaq Dar has warned currency speculators to stop pla
Published 13 May, 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 Monday (May 12, 2008).

Published 13 May, 2008 12:00am
CGT levy, CVT raise likely for rich people

CGT levy, CVT raise likely for rich people

Hinting at imposition of capital gains tax (CGT) on capital market transactions, increase in capital value tax (CVT) on real estate, and increase in income tax for higher income groups Finance Minister Ishaq Dar has warned currency speculators to stop pla
Published 13 May, 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 Monday (May 12, 2008).

Published 13 May, 2008 12:00am
CGT levy, CVT raise likely for rich people

CGT levy, CVT raise likely for rich people

Hinting at imposition of capital gains tax (CGT) on capital market transactions, increase in capital value tax (CVT) on real estate, and increase in income tax for higher income groups Finance Minister Ishaq Dar has warned currency speculators to stop pla
Published 13 May, 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 13 May, 2008 12:00am
PML-N decides to quit Cabinet

PML-N decides to quit Cabinet

The PML-N on Monday formally announced that it had decided to quit the Federal Cabinet as the dialogue to reinstate judges could not materialise. The eight federal ministers belonging to PML-N will submit their resignations to Prime Minister Yousuf Raza G
Published 13 May, 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 13 May, 2008 12:00am
PML-N decides to quit Cabinet

PML-N decides to quit Cabinet

The PML-N on Monday formally announced that it had decided to quit the Federal Cabinet as the dialogue to reinstate judges could not materialise. The eight federal ministers belonging to PML-N will submit their resignations to Prime Minister Yousuf Raza G
Published 13 May, 2008 12:00am
Government decides to import one million tonnes of wheat

Government decides to import one million tonnes of wheat

The government has decided to import one million tonnes wheat in addition to 1.5 million tonnes previously approved by the Economic Co-ordination Committee (ECC), to build the strategic reserves for meeting country''s future needs.
Published 13 May, 2008 12:00am
Government decides to import one million tonnes of wheat

Government decides to import one million tonnes of wheat

The government has decided to import one million tonnes wheat in addition to 1.5 million tonnes previously approved by the Economic Co-ordination Committee (ECC), to build the strategic reserves for meeting country's future needs.
Published 13 May, 2008 12:00am
Asian gasoil up

Asian gasoil up

Asian gasoil cracks hit a fresh record high on Monday, as concerns over tightening supply flows swelled, as global demand showed no signs of cooling off despite high outright prices. Gasoil's June crack widened to $37, jumping nearly $4 from Friday's clos
Published 13 May, 2008 12:00am
Government decides to import one million tonnes of wheat

Government decides to import one million tonnes of wheat

The government has decided to import one million tonnes wheat in addition to 1.5 million tonnes previously approved by the Economic Co-ordination Committee (ECC), to build the strategic reserves for meeting country's future needs.
Published 13 May, 2008 12:00am
Malaysia moves to ensure enough rice supply

Malaysia moves to ensure enough rice supply

Malaysia announced on Monday measures to ensure an adequate supply of rice in a bid to slow soaring prices of the food staple. Prime Minister Abdullah Ahmad Badawi imposed controls on prices for higher grades of the grain and raised the minimum guaranteed
Published 13 May, 2008 12:00am
Shanghai copper futures down

Shanghai copper futures down

Shanghai copper futures fell 1.3 percent on Monday, following declines in London in the previous session, and more weakness was expected after steep increases in inventories last week. The July copper contract, the most active on the Shanghai Futures Exch
Published 13 May, 2008 12:00am
Gold down, reverses gains

Gold down, reverses gains

Gold fell on Monday, erasing gains as the dollar recovered against major currencies after a sell-off late last week, while crude oil slipped slightly from record peaks above $126 a barrel. Spot gold traded at $884.30/885.30 an ounce after rising as high a
Published 13 May, 2008 12:00am
Australia eyes big gains from GMO crops

Australia eyes big gains from GMO crops

Australia could boost crop yields by up to 10 percent by producing commercial genetically modified canola, wheat, rice and maize, the government's Australian Bureau of Agricultural and Resource Economics (ABARE) said on Monday.
Published 13 May, 2008 12:00am