The European Central Bank should keep interest rates on hold until easing inflationary pressures and growing spare capacity in the eurozone allow for a policy shift, the International Monetary Fund said on Monday.
Emerging Europe's star economies are feeling the pinch from the eurozone slowdown, with data showing signs of a drop off in manufacturing that has been exacerbated by their strong currencies.
Eurozone finance ministers on Monday gave themselves more time to bring their budgets to balance or surplus, moving the deadline to 2012 from 2010 because economic growth is slowing.
India must not further subsidise soaring prices of oil and other commodities to protect consumers, but will be able to sustain high economic growth despite global challenges, the prime minister said on Monday.
Malaysian crude palm oil futures rose inched higher on Monday as investors hesitated between betting on the overnight strength in US soyoil markets and selling on slower export demand.
Tokyo rubber futures are expected to remain firm in June, hovering near a 28-year high, backed by rallies in crude oil prices, strong demand and limited supply, a Reuters poll showed on Monday.
The Philippines' state grain agency said on Monday it would hold auctions for private traders to import up to 200,000 tonnes of rice on June 11, 20 and 27. Conrad Ibanez, assistant administrator of the National Food Authority (NFA), said any volume out of
Indonesian palm oil prices eased on Monday in the absence of strong drivers and despite a rebound in Malaysian palm oil futures. In Jakarta, the state marketing centre sold crude palm oil at 9,885 rupiah ($1.06) a kilogram, down from 10,009 rupiah a kilog
Oil prices were little changed below $128 a barrel on Monday, with traders tracking the dollar for direction as fleeting Tropical Storm Arthur marked the start of the Atlantic hurricane season, shutting two Mexican oil ports. US light, sweet crude oil fut
Spot gold hovered narrowly around $885 on Monday, sticking close to levels of late last week, although it briefly dipped a touch after crude oil slipped, dulling the precious metal's appeal as an inflation hedge. Spot gold was at $884.80/885.80 an ounce a
Bangladesh will roll out new varieties of flood-resistant and salt-tolerant rice to farmers next year, in an effort to boost production of the staple. The impoverished south Asian nation faces serious food shortages after last year's floods and a cyclone,
Copper futures made a soft start to the month on Monday, adding to May's weak performance, and the outlook for the industrial metal was downbeat as Chinese buyers wind down for the traditional slow demand season.
The Egyptian government has extended a ban on the export of rice until April 2009 to boost local supplies, a trader said on Monday. "There was an official decree to extend it to April 1," Hisham el-Attal, chairman of the rice committee at Egyptian Traders
Indian sugar futures were flat on Monday as good demand in northern markets was offset by the weekend arrival of monsoon rains in the south, which eased demand from bulk users such as ice-cream and beverage makers. At 3:28 pm (0958 GMT), the June contract
Lacklustre trading was seen on the grain market on Monday ahead of the budget 2008-09, dealers said. Many leading buyers were trying to hold the commodities and other essential till the announcement of the federal budget to gain more profit, they said. No
Thin business was seen on cotton market on Monday due to higher trend in the prices, experts said. The Karachi cotton Association (KCA) official spot rate was unchanged at Rs 3700, dealers said. Many mills were on the sidelines due to higher trend in the
Falling trend was seen on the forward cottonseed oilcake market on Monday in process of lacklustre business, dealers said. The July vaida opened with no change at Rs 804.00, they said.
US Plains hard red winter wheat basis values were holding steady on Monday amid ongoing harvest movement through the Plains. Harvest activity was translating to a drop-off in protein premiums. For railcar wheat to and through Kansas City, premiums dropped
Turkey's gold jewellery exports fell by 14.8 percent in April, figures from the country's exporters association showed on Monday. Turkey, one of the world's top three gold jewellery exporters, exported 6.5 tonnes, down from 7.6 tonnes in the same month la
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
US President George W. Bush has condemned suicide bombing on Denmark's embassy in Pakistan and offered his condolences to the victims, White House spokeswoman Dana Perino said Monday. Meanwhile, UN chief Ban Ki-moon on Monday strongly condemned the suicid
US President George W. Bush has condemned suicide bombing on Denmark's embassy in Pakistan and offered his condolences to the victims, White House spokeswoman Dana Perino said Monday. Meanwhile, UN chief Ban Ki-moon on Monday strongly condemned the suicid
President Pervez Musharraf on Monday said the country's economic fundamentals were strong and hoped the government would address the current downtrend. The President was addressing the participants at the National Defence University following the presenta
President Pervez Musharraf on Monday said the country's economic fundamentals were strong and hoped the government would address the current downtrend. The President was addressing the participants at the National Defence University following the presenta
The government may introduce a "luxury tax" in the upcoming budget to tax luxurious items like vehicles, property of the elite class of Pakistan. It is learnt on Monday that the tax managers are seriously working on the proposal of levying "luxury tax" at
The government may introduce a "luxury tax" in the upcoming budget to tax luxurious items like vehicles, property of the elite class of Pakistan. It is learnt on Monday that the tax managers are seriously working on the proposal of levying "luxury tax" at
The government may introduce a "luxury tax" in the upcoming budget to tax luxurious items like vehicles, property of the elite class of Pakistan. It is learnt on Monday that the tax managers are seriously working on the proposal of levying "luxury tax" at
The proposed amnesty scheme to be announced in budget (2008-2009) may legalise black economy on payment of 2.5-3 percent of the value of un-declared assets. Sources told Business Recorder on Monday that the proposed amnesty scheme would make it man
The proposed amnesty scheme to be announced in budget (2008-2009) may legalise black economy on payment of 2.5-3 percent of the value of un-declared assets. Sources told Business Recorder on Monday that the proposed amnesty scheme would make it man
The proposed amnesty scheme to be announced in budget (2008-2009) may legalise black economy on payment of 2.5-3 percent of the value of un-declared assets. Sources told Business Recorder on Monday that the proposed amnesty scheme would make it man
The government has decided to issue 'Afghan Transit Trade Rules-2008' in the coming budget to regulate trade between Pakistan and Afghanistan. These would contain strict measures to check smuggling, missing containers and massive evasion of duties and tax
The government has decided to issue 'Afghan Transit Trade Rules-2008' in the coming budget to regulate trade between Pakistan and Afghanistan. These would contain strict measures to check smuggling, missing containers and massive evasion of duties and tax
The government has decided to issue ''Afghan Transit Trade Rules-2008'' in the coming budget to regulate trade between Pakistan and Afghanistan. These would contain strict measures to check smuggling, missing containers and massive evasion of duties and t
Pakistan Muslim League-Nawaz (PML-N) Monday said that it would not provide safe exit to President Pervez Musharraf and opposed the restoration of the deposed judges through the proposed constitutional package.
Pakistan Muslim League-Nawaz (PML-N) Monday said that it would not provide safe exit to President Pervez Musharraf and opposed the restoration of the deposed judges through the proposed constitutional package.
The National Economic Council, which met here on Monday, approved the national programme of small dams, under which the government will construct 314 dams across the country. Total cost of the programme has been estimated at Rs 54 billion.
The National Economic Council, which met here on Monday, approved the national programme of small dams, under which the government will construct 314 dams across the country. Total cost of the programme has been estimated at Rs 54 billion.
The National Economic Council, which met here on Monday, approved the national programme of small dams, under which the government will construct 314 dams across the country. Total cost of the programme has been estimated at Rs 54 billion.
Share values on Lahore Stock Exchange (LSE) on Monday showed recovering signs on fresh buying interest in oil sector, banks and securities stocks, pushing the LSE index up 66.71 points, or 1.7 percent. The LSE-25 Index climbed to 3,893.57 points form 3,82
Share values on Lahore Stock Exchange (LSE) on Monday showed recovering signs on fresh buying interest in oil sector, banks and securities stocks, pushing the LSE index up 66.71 points, or 1.7 percent. The LSE-25 Index climbed to 3,893.57 points form 3,82
Eight people were killed and 25 injured when a high-intensity car bomb exploded outside Danish embassy here on Monday. The blast also damaged embassy boundary wall, an NGO building and about 20 vehicles.
Eight people were killed and 25 injured when a high-intensity car bomb exploded outside Danish embassy here on Monday. The blast also damaged embassy boundary wall, an NGO building and about 20 vehicles.
Norway temporarily closed its embassy in Islamabad on Monday after a suicide bomb attack outside the Danish embassy killed at least eight people, the Norwegian foreign ministry said. "We've closed our embassy," ministry spokesman Tor-Henrik Andersen told
The National Economic Council (NEC) on Monday scaled GDP growth down to 5.8 percent for the current fiscal year, and 5.5 percent target for 2008-09. The NEC, which met here with Prime Minister Yusuf Raza Gilani in the chair, approved Rs 541 billion Public
On Monday, the BRIndex30 opened at 12,678.25 with a downward gap of 110.05 points, and closed at 12,967.92 with a net positive change of 179.62 points, or 1.40 percent. It experienced intra-day high of 13,050.94 and low of 12,678.25. The volume amounted t
The government has decided to delay announcing its 2008-09 budget until June 10, having earlier set a date of June 7, a senior official told Reuters on Monday. The official, speaking on condition of anonymity, said Prime Minister Yusuf Raza Gilani's possi
The government has decided to delay announcing its 2008-09 budget until June 10, having earlier set a date of June 7, a senior official told Reuters on Monday. The official, speaking on condition of anonymity, said Prime Minister Yusuf Raza Gilani's possi
The government has decided to delay announcing its 2008-09 budget until June 10, having earlier set a date of June 7, a senior official told Reuters on Monday. The official, speaking on condition of anonymity, said Prime Minister Yusuf Raza Gilani''s poss
Negotiations between the Pakistan Indus Basin Water Commission and its India counterpart stalled on the Kishan Ganga dam for the third consecutive day. Pakistan has raised six objections on the project design, but were rejected by Indian Commissioner Oran
Negotiations between the Pakistan Indus Basin Water Commission and its India counterpart stalled on the Kishan Ganga dam for the third consecutive day. Pakistan has raised six objections on the project design, but were rejected by Indian Commissioner Oran
Negotiations between the Pakistan Indus Basin Water Commission and its India counterpart stalled on the Kishan Ganga dam for the third consecutive day. Pakistan has raised six objections on the project design, but were rejected by Indian Commissioner Oran
The National Economic Council (NEC) on Monday scaled GDP growth down to 5.8 percent for the current fiscal year, and 5.5 percent target for 2008-09. The NEC, which met here with Prime Minister Yusuf Raza Gilani in the chair, approved Rs 541 billion Public
The National Economic Council (NEC) on Monday scaled GDP growth down to 5.8 percent for the current fiscal year, and 5.5 percent target for 2008-09. The NEC, which met here with Prime Minister Yusuf Raza Gilani in the chair, approved Rs 541 billion Public
A private firm's $100 million plan of setting up maize-based ethanol generation plant near Port Qasim Karachi has been not been implemented so far. Sources in Sindh government told Business Recorder on Monday that poor law and order and political i
Confusion is getting more confounded as a result of incredible delay in the grant of licenses under the Trade Organisations Ordinance Rules (TOO), 2007 by the Ministry of Commerce to trade bodies. Would these associations and chambers be allowed to contin