News Archives for Print - 2008-06-19

EFU Capital Growth Fund Rates

EFU Capital Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Boucher to visit Pakistan this month

The US Assistant Secretary of State for South Asia, Richard Boucher, will visit Pakistan at the end of the current month to lessen the tension between Pakistan and Afghanistan, sources said Wednesday. Sources said the Mr Boucher would to exchange views wi

Published 19 Jun, 2008 12:00am

EFU Pension Growth Fund Rates

EFU Pension Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Boucher to visit Pakistan this month

The US Assistant Secretary of State for South Asia, Richard Boucher, will visit Pakistan at the end of the current month to lessen the tension between Pakistan and Afghanistan, sources said Wednesday. Sources said the Mr Boucher would to exchange views wi

Published 19 Jun, 2008 12:00am

EFU Pension Growth Fund Rates

EFU Pension Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Government to provide fiscal relief to farmers: minister

Federal Minister for Water and Power Raja Pervez Ashraf on Tuesday said that all necessary measures would be taken to provide fiscal relief to farmers to boost agriculture productivity. In a meeting with parliamentarians from Punjab, the minister said tha

Published 19 Jun, 2008 12:00am

EFU Pension Growth Fund Rates

EFU Pension Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Government to provide fiscal relief to farmers: minister

Federal Minister for Water and Power Raja Pervez Ashraf on Tuesday said that all necessary measures would be taken to provide fiscal relief to farmers to boost agriculture productivity. In a meeting with parliamentarians from Punjab, the minister said tha

Published 19 Jun, 2008 12:00am

EFU Capital Growth Fund Rates

EFU Capital Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Government to provide fiscal relief to farmers: minister

Federal Minister for Water and Power Raja Pervez Ashraf on Tuesday said that all necessary measures would be taken to provide fiscal relief to farmers to boost agriculture productivity. In a meeting with parliamentarians from Punjab, the minister said tha

Published 19 Jun, 2008 12:00am

EFU Managed Growth Fund Rates

EFU Managed Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Balochistan budget on June 21

Balochistan budget for financial year 2008-9 will be presented on June 21. The Central and three provincial governments have announced their budgets but Balochistan could not present its budget owing to financial problems. This was stated by Senior Minist

Published 19 Jun, 2008 12:00am

EFU Capital Growth Fund Rates

EFU Capital Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Balochistan budget on June 21

Balochistan budget for financial year 2008-9 will be presented on June 21. The Central and three provincial governments have announced their budgets but Balochistan could not present its budget owing to financial problems. This was stated by Senior Minist

Published 19 Jun, 2008 12:00am

EFU Aitemad Growth Fund Rates

EFU Aitemad Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Balochistan budget on June 21

Balochistan budget for financial year 2008-9 will be presented on June 21. The Central and three provincial governments have announced their budgets but Balochistan could not present its budget owing to financial problems. This was stated by Senior Minist

Published 19 Jun, 2008 12:00am

EFU Aitemad Growth Fund Rates

EFU Aitemad Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Balochistan budget on June 21

Balochistan budget for financial year 2008-9 will be presented on June 21. The Central and three provincial governments have announced their budgets but Balochistan could not present its budget owing to financial problems. This was stated by Senior Minist

Published 19 Jun, 2008 12:00am

EFU Aitemad Growth Fund Rates

EFU Aitemad Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

China labour supply drying up, wages to rise

China's deep pool of labour, a key driver of its headlong economic growth, is drying up, a labour expert said on Wednesday. The sea-change means companies will have to pay more to attract employees in coming decades, said Cai Fang from the Chinese Academy

Published 19 Jun, 2008 12:00am

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Bears take control at ISE

Equities failed to show healthy signs at the Islamabad Stock Exchange (ISE) on Wednesday where bears took control under the lead of hot favourite amid decrease in index. ISE-10 Index was down by 61.77 points from 2,879.35 to 2,818.18 points.

Published 19 Jun, 2008 12:00am

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Norway says oil fund reluctant to blacklist states

Norway's $400 billion sovereign wealth fund is unlikely to rule out investing in countries that abuse human rights unless such sanctions are adopted as foreign policy, the Norwegian finance minister said on Wednesday. So far the Norwegian government and i

Published 19 Jun, 2008 12:00am

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

'North Korea's feeble economy shrinks from floods'

North Korea's already devastated economy shrank by 2.3 percent in 2007 due to widespread flooding that cut the impoverished state's farm production by nearly one tenth, South Korea's central bank said in a report on Wednesday.

Published 19 Jun, 2008 12:00am

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Sanofi plans $2.6 billion counterbid for Zentiva

French drugmaker Sanofi-Aventis plans to make a 40.04 billion crown ($2.57 billion) offer for Czech drugmaker Zentiva, trumping a bid from financial group PPF. The move would take Sanofi deeper into the field of generic drug production, an area which has

Published 19 Jun, 2008 12:00am

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Bears take control at ISE

Equities failed to show healthy signs at the Islamabad Stock Exchange (ISE) on Wednesday where bears took control under the lead of hot favourite amid decrease in index. ISE-10 Index was down by 61.77 points from 2,879.35 to 2,818.18 points.

Published 19 Jun, 2008 12:00am

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

China has no plans to 'encircle' India: ambassador

China has no plans to try and dominate the shipping lanes of the Indian Ocean, its ambassador to India said in Hong Kong Wednesday. "We don't have such an intention to establish a chain to encircle India," said ambassador Zhang Yan at a lunch held by the

Published 19 Jun, 2008 12:00am

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Five former senior officials of BoP arrested

The National Accountability Bureau (NAB) on Wednesday arrested five ex-senior officials of the Bank of Punjab (BoP) for allegedly giving Rs 9 billion worth of loan against exaggerated evaluation of collateral.

Published 19 Jun, 2008 12:00am

EFU Managed Growth Fund Rates

EFU Managed Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Five former senior officials of BoP arrested

The National Accountability Bureau (NAB) on Wednesday arrested five ex-senior officials of the Bank of Punjab (BoP) for allegedly giving Rs 9 billion worth of loan against exaggerated evaluation of collateral.

Published 19 Jun, 2008 12:00am

EFU Managed Growth Fund Rates

EFU Managed Growth Fund Rates on Wednesday (June 18, 2008).

Published 19 Jun, 2008 12:00am

Five former senior officials of BoP arrested

The National Accountability Bureau (NAB) on Wednesday arrested five ex-senior officials of the Bank of Punjab (BoP) for allegedly giving Rs 9 billion worth of loan against exaggerated evaluation of collateral.

Published 19 Jun, 2008 12:00am

KCBT wheat futures higher

Hard red winter wheat futures on the Kansas City Board of Trade closed higher on Tuesday on technical buying, including short covering, and spillover strength from corn and soyabeans, traders said. KCBT July wheat settled up 18 cents at $9.39 per bushel,

Published 19 Jun, 2008 12:00am

Dollar rises versus majors in London

The dollar mounted a defensive rally against a basket of currencies on Wednesday, but struggled to break free of recent ranges after a run of weak US data clouded expectations for a series of Federal Reserve rate hikes.

Published 19 Jun, 2008 12:00am

Sterling under pressure

Sterling was pressured against the dollar and euro on Wednesday after minutes from the Bank of England's last policy meeting showed members voted 8-1 to leave interest rates on hold, dousing the possibility of a near-term rate hike.

Published 19 Jun, 2008 12:00am

Indian rupee flat

The Indian rupee oscillated in a thin band on Wednesday, weighed down by stock market losses but supported by state-run banks, who traders said sold dollars in an effort to stop it from falling back to 43 per dollar. The partially convertible rupee ended

Published 19 Jun, 2008 12:00am

Obama has narrow lead on McCain

Democrat Barack Obama has a narrow 5-point lead on Republican John McCain in the US presidential race, but holds a big early edge with the crucial swing voting blocs of independents and women, according to a Reuters/Zogby poll released on Wednesday.

Published 19 Jun, 2008 12:00am

Egypt deports more Eritreans

Egypt is continuing large-scale secret deportations of Eritrean asylum seekers despite objections by the UN refugee agency, which fears for their safety, Egyptian security sources said on Wednesday. They said a number of Eritreans were taken to Cairo airp

Published 19 Jun, 2008 12:00am

Syria seeks India's help over Middle East crisis

Syria on Wednesday sought India's help in resolving contentious issues in the Middle East when Syrian President Bashar al-Assad met Indian Prime Minister Manmohan Singh in New Delhi, officials and news reports said.

Published 19 Jun, 2008 12:00am

Crucial meeting on India-US nuclear deal postponed

A meeting between India's government and its communist allies to break a deadlock over a nuclear deal with the United States was postponed on Wednesday, clouding the fate of a pact that is badly running out of time.

Published 19 Jun, 2008 12:00am

Mississippi River levees break, more at risk

The swollen Mississippi River ran over the top of at least nine more levees on Wednesday as floodwaters swallowed up more US farmland, feeding inflation fears as corn prices soared to a record high. The US Army Corps of Engineers said a levee broke at 1 a

Published 19 Jun, 2008 12:00am

Iran terms demand to halt enrichment 'illegitimate'

Iran will never surrender to an "illegitimate" demand by major world powers that it halt uranium enrichment, Iran's state radio on Wednesday quoted the country's envoy to the UN atomic watchdog as saying. "Iran will never give in to the illegitimate and i

Published 19 Jun, 2008 12:00am

US machine wins world computer speed championship

The latest semi-official ranking of the world's fastest computers was a no-contest for the top spot, with the Roadrunner, a new US government computer which can simulate atom-bomb blasts, winning hands down on Wednesday. The twice yearly Top 500 List was

Published 19 Jun, 2008 12:00am

EU urged to be bold on policy after treaty setback

European Union leaders must press ahead with ambitious policies on climate change and energy to counter surging oil prices and help overcome the political setback of Ireland's "No" to the EU reform treaty, the European Commission chief said on Wednesday.

Published 19 Jun, 2008 12:00am

23 militants, two soldiers killed as anti-Taliban operation starts in south

A massive Afghan-Nato offensive aimed at pushing out militants who recently overran several villages in southern Afghanistan was still ongoing Wednesday as two Afghan soldiers and 23 Taliban militants were killed in initial firefights, officials said.

Published 19 Jun, 2008 12:00am

Failure to create Palestinian state 'serious mistake': Abdullah

Jordan's King Abdullah II warned on Wednesday that failure to create an independent Palestinian state this year would be a "serious mistake," calling for a stable Middle East.

Published 19 Jun, 2008 12:00am

Israel confirms agreement with Hamas on truce

Israel said on Wednesday it accepted an Egyptian-brokered truce with Hamas ruling the Gaza Strip but voiced scepticism the ceasefire involving all Palestinian militant groups in the territory would hold. "What they are calling a 'calm' is fragile and like

Published 19 Jun, 2008 12:00am

Floods render 300,000 homeless in India's east

Indian soldiers evacuated thousands of stranded people from submerged villages on Wednesday, as floods triggered by heavy monsoon rains swept across the country's east and northeast. More than 300,000 people have lost their homes so far, and are scattered

Published 19 Jun, 2008 12:00am

China rushes to fix dams, 9,000 square miles flooded

China has posted hundreds of police and rescue officials to shore up dams threatening to burst under torrential rain that has already flooded thousands of square miles of crops and homes.

Published 19 Jun, 2008 12:00am

Relatives challenge UN immunity over Srebrenica

Relatives of the victims of the 1995 Srebrenica massacre asked a Dutch court on Wednesday to waive the immunity of the United Nations and allow them to seek damages for their loss.

Published 19 Jun, 2008 12:00am

Campaigning rockers challenge Sarkozy over Africa

Campaigning rockers Bono and Bob Geldof challenged French President Nicolas Sarkozy on Wednesday to increase aid to Africa, saying France was failing to live up to commitments it made at a G8 summit in 2005.

Published 19 Jun, 2008 12:00am

Security, choreography mark Silk Road torch relay

The Olympic torch was paraded on Wednesday through China's sensitive former Silk Road city of Kashgar, home to ethnic-minority Muslim Uighurs, under the scrutiny of soldiers and choreographed cheering crowds.

Published 19 Jun, 2008 12:00am

UK socialites shake off gloom as the season hots up

Credit crunch? What credit crunch? Britain's trend-setting social season kicked off at Royal Ascot this week with champagne flowing freely in the corporate hospitality tents. And the news is equally positive from the next two stops on a hectic networking

Published 19 Jun, 2008 12:00am

ICC gives Pakistan all-clear for Champions Trophy

Pakistan will host the Champions Trophy in September provided there are no safety and security fears, a top official of the International Cricket Council said on Wednesday. ICC acting chief executive Dave Richardson was speaking ahead of the launching cer

Published 19 Jun, 2008 12:00am

Italian media revel in victory, hail Dutch

The Italian press delighted in Tuesday's 2-0 win over France and hailed the Dutch for making the world champions' passage to the Euro 2008 quarter-finals possible by beating Romania by the same score. "Viva L'Italia," beamed the front page of Corriere del

Published 19 Jun, 2008 12:00am

Federer faces Wimbledon dogfight with Nadal

Roger Federer's traditional Wimbledon waltz is set to be transformed into an All England Club dogfight as Rafael Nadal plots to shatter the world number one's dream of a record sixth successive title. The Spaniard, fresh from his French Open humiliation o

Published 19 Jun, 2008 12:00am

Baghdatis bumped up in Wimbledon seedings

Marcos Baghdatis and Tomas Berdych have both benefited from Wimbledon's unique seedings policy this year after strong showings in 2007. The seedings for next week's grasscourt grand slam, released by the All England Club on Wednesday, have Cypriot Baghdat

Published 19 Jun, 2008 12:00am

Germany coach Loew banned for quarters

Germany coach Joachim Loew has been banned from the touchline for Thursday's Euro 2008 quarter-final with Portugal after being "sent off" in their last Group B match, the German football federation (DFB) said on Wednesday. Loew was ordered to watch the se

Published 19 Jun, 2008 12:00am

Puel appointed Lyon manager

Claude Puel has been appointed manager of Olympique Lyon, the seven-times French champions said on Wednesday. Puel, who joins from Ligue 1 rivals Lille, will be presented as the new Lyon manager at a news conference on Wednesday, the club said in a statem

Published 19 Jun, 2008 12:00am

Tactical switch bringing rewards for Dutch

The strategy behind the Dutch team's spectacular form at Euro 2008 was hatched in a meeting between coach Marco van Basten and several senior players. Adopting a highly effective and organised 4-2-3-1 system, Van Basten's side swept through the group stag

Published 19 Jun, 2008 12:00am

Swiss franc eases

The Swiss franc eased against the euro and was near flat against the dollar on Wednesday as interest rate talk took centre stage a day ahead of the Swiss National Bank's rate decision. "It's the interest rate story that moves the market at the moment," a

Published 19 Jun, 2008 12:00am

Most Asian currencies retreat on renewed credit fears

Most Asian currencies gave up early gains on Wednesday as fears of inflation and credit market woes returned, even though the dollar stayed broadly weak amid doubts over how much US interest rates might rise this year. In early trading Asian currencies we

Published 19 Jun, 2008 12:00am

Australian dollar ends steady

The Australian dollar consolidated below one-week highs against the US currency on Wednesday, supported by investor expectations the Federal Reserve would delay raising interest rates in the coming months. Housing starts in the United States fell to a 17-

Published 19 Jun, 2008 12:00am

Dollar falls after grim US housing data

The dollar fell against the euro on Tuesday as US housing starts plunged to their lowest level in more than 17 years in May, casting more doubt over an anticipated early Federal Reserve interest rate increase.

Published 19 Jun, 2008 12:00am

Dollar steadies after dipping on Fed rate views

The dollar steadied against the yen on Wednesday after slipping the previous day on news that US housing starts fell to a 17-year low, casting more doubt on how much the Federal Reserve might boost interest rates in the coming months.

Published 19 Jun, 2008 12:00am

Yuan guided to high

China's central bank guided the yuan to a new post-revaluation high against the dollar on Wednesday, apparently in an effort to create a positive climate for this week's round of high-level US-China economic talks. But the yuan fell against the dollar in

Published 19 Jun, 2008 12:00am

Philippines shares lower

Philippines share prices closed down 0.3 percent on Wednesday as a rise in the jobless rate added to worries about the slowing economy, dealers said. The composite index lost 9.06 points to 2,628.20, after trading between 2,620.36 and 2,641.99. The all sh

Published 19 Jun, 2008 12:00am

Nikkei ends higher

Japan's Nikkei stock average rose 0.7 percent on Wednesday, with exporters such as Honda Motor rebounding as the dollar steadied around 108 yen and investors picked up certain sectors such as car battery makers. NEC Electronics surged 15.6 percent after G

Published 19 Jun, 2008 12:00am

Chinese stocks climb

China's main stock index jumped more than 5 percent on Wednesday, recording its biggest daily rise since April, as shares in oil refiners surged on speculation that authorities might hike domestic fuel prices.

Published 19 Jun, 2008 12:00am

Seoul shares close up

Seoul shares closed higher on Wednesday as shipbuilders rebounded from recent steep falls and Hankook Tire surged on talk France's Michelin was moving to boost its stake in the firm.

Published 19 Jun, 2008 12:00am

US Treasury outlook

With the next Federal Reserve policy meeting a week away, Treasuries' recent sell-off has stabilised after hints in news reports that the bond market may have bet too aggressively on interest rate hikes in coming months.

Published 19 Jun, 2008 12:00am

US Treasury outlook

With the next Federal Reserve policy meeting a week away, Treasuries' recent sell-off has stabilised after hints in news reports that the bond market may have bet too aggressively on interest rate hikes in coming months.

Published 19 Jun, 2008 12:00am

US stocks market drops

US stocks fell on Tuesday after a major brokerage warned that US banks would have to raise as much as $65 billion in capital to shore up balance sheets weakened by the mortgage crisis. Raising capital could dilute the equity stakes of current shareholders

Published 19 Jun, 2008 12:00am

Hong Kong shares gain

Hong Kong shares rose 1.2 percent on Wednesday, spurred by a surprisingly strong rally in Shanghai stocks and a jump in Asia's top refiner, Sinopec Corp, on a drop in oil prices and talk of price reforms. Sinopec, the most heavily traded stock of the day,

Published 19 Jun, 2008 12:00am

Taiwan stocks rise for fourth session

Taiwan stocks closed 0.19 percent higher on Wednesday, rising for a fourth straight session, led by smartphone maker HTC and top chip maker TSMC as falling oil prices boosted investor confidence. The main TAIEX share index recovered earlier losses and ros

Published 19 Jun, 2008 12:00am

Hunger could threaten five million in Zimbabwe by 2009: UN

Some 5.1 million people in Zimbabwe will face hunger by January 2009, unless the country's government and the international community begin emergency supplies of seeds and fertilisers, a UN report has warned. Farmers in the southern African nation also ne

Published 19 Jun, 2008 12:00am

India workers' bank wins closure reprieve

Sahara India Financial Corp, which caters to tens of millions of India's small savers, has won an extension on a closure order after being accused by the central bank of exploiting depositors. The central bank told Sahara, which has 42.5 million mainly po

Published 19 Jun, 2008 12:00am

Daimler picks Hungary for new Mercedes plant

Daimler will invest 800 million euros ($1.2 billion) and create up to 2,500 jobs at a new plant in Hungary as the carmaker expands its range of Mercedes-Benz compacts to four models from two.

Published 19 Jun, 2008 12:00am

WTO head slams new US Farm Bill

The head of the World Trade Organisation on Wednesday criticised US legislation giving hundreds of billions of dollars of subsidies to farmers and said only a global trade deal could redress the balance. "Those who criticise US agricultural policy, quite

Published 19 Jun, 2008 12:00am

UK consumer slowdown will worsen: Deloitte

A consumer slowdown in Britain will worsen next year and any upturn will be compromised by a slew of planned openings of new retail property in the coming years, according to business advisory firm Deloitte. "2009 is going to be more difficult than 2008,"

Published 19 Jun, 2008 12:00am

Gazprom sees $26 billion revenue boost in 2008

Russian gas giant Gazprom expects export revenues to surge 26.8 billion dollars (17.3 billion euros) in 2008 on higher prices and increased supplies, the deputy chief executive said Wednesday. "The revenue will be 71.6 billion dollars (46.2 billion euros)

Published 19 Jun, 2008 12:00am

Fortis puts ABN China fund joint venture on block

Fortis is looking to sell its stake in a Chinese fund management joint venture it acquired last year as part of the take-over of ABN Amro, according to a source with direct knowledge of the deal.

Published 19 Jun, 2008 12:00am

Honda to launch hybrid Civic in India

Japan's Honda Motor Co said on Wednesday it would start selling a hybrid version of its Civic sedan in India from the end of this month as it chases Toyota Motor Corp in the green car race. Honda, Japan's second-largest automaker after Toyota, said it wou

Published 19 Jun, 2008 12:00am

Hong Kong, Singapore top trade-enabling index

Hong Kong and Singapore topped a new index that assesses how successfully economies encourage and assist trade, the World Economic Forum said on Wednesday. The two East Asian economies were followed by two Nordic countries - Sweden and Norway - then by Ca

Published 19 Jun, 2008 12:00am

US mortgage refinance applications plunge

Applications for US home mortgages dropped for the fourth week in the last five as soaring rates on standard, fixed-rate mortgages choked off refinancing opportunities, an industry group said on Wednesday. The Mortgage Bankers Association said its seasona

Published 19 Jun, 2008 12:00am

US mortgage refinance applications plunge

Applications for US home mortgages dropped for the fourth week in the last five as soaring rates on standard, fixed-rate mortgages choked off refinancing opportunities, an industry group said on Wednesday. The Mortgage Bankers Association said its seasona

Published 19 Jun, 2008 12:00am

Farmers, truckers stage fuel protest in Brussels

Belgian farmers, truckers and taxi drivers staged protests in Brussels against soaring fuel prices on Wednesday, a day before European Union leaders meet in the city to discuss how to tackle the high cost of oil.

Published 19 Jun, 2008 12:00am

China begins anti-monopoly probe of Microsoft

China has begun an anti-monopoly investigation into US giant Microsoft and several other global software firms, the country's intellectual property watchdog said Wednesday. The development comes with Microsoft already embroiled in a stand-off with the top

Published 19 Jun, 2008 12:00am

EU plans to make changing bank accounts free

Customers will be able to switch their account to another bank for free and with minimum fuss under draft European Union rules aimed at boosting competition in the sector, a document showed on Wednesday. The draft proposal from EU Internal Market Commissi

Published 19 Jun, 2008 12:00am

FedEx posts loss, gives low forecast

Package delivery company FedEx Corp posted a quarterly loss on Wednesday due to high fuel prices, a weak US economy and a previously announced write-down, and issued a weak forecast for fiscal 2009. The news sent the company's shares down 5 percent in pre

Published 19 Jun, 2008 12:00am

FedEx posts loss, gives low forecast

Package delivery company FedEx Corp posted a quarterly loss on Wednesday due to high fuel prices, a weak US economy and a previously announced write-down, and issued a weak forecast for fiscal 2009. The news sent the company's shares down 5 percent in pre

Published 19 Jun, 2008 12:00am

Bollywood's Reliance to invest in Hollywood's DreamWorks

Indian telecommunications and entertainment giant Reliance ADA Group is to invest between 500 and 600 million dollars in DreamWorks SKG to help the studio break away from Viacom, The Wall Street Journal reported Wednesday.

Published 19 Jun, 2008 12:00am

European Union lawmakers take tough line on power unbundling

European Union lawmakers agreed a tough line on liberalising power markets on Wednesday, putting them on a collision course with member states, which reached a compromise deal this month. The EU's executive European Commission proposed last year dividing

Published 19 Jun, 2008 12:00am

Japan, China strike landmark gas-sharing deal

Japan and China said Wednesday they had struck a deal to jointly develop gas fields in the East China Sea, partly resolving a spat that has been a thorn in ties between the major energy importers. After four years of on-off talks, Asia's two largest econo

Published 19 Jun, 2008 12:00am

Currency	Rate
USD PKR Interbank Selling / May 15	281.68
USD PKR Interbank Buying / May 15	281.43
USD to Japanese Yen / May 15	145.80
USD to Swiss Franc / May 15	0.84
Pound Sterling to USD / May 15	1.33
Euro to USD / May 15	1.12
UK LIBOR % / May 14	4.96

Stock	Volume
S&P 500 / May 14	5,892.58
Nasdaq / May 14	19,146.81
Dow Jones / May 14	42,051.06
India Sensex / May 15	80,937.53
Tokyo Nikkei / May 15	37,755.51
Hang Seng / May 15	23,453.16
FTSE 100 / May 15	8,561.58
Germany DAX 30 / May 15	23,462.44
France CAC40 / May 15	7,814.71

Item	Value
Karachi Cotton PKR/37.32 KG / May 14	16,985
Gold 10 Grams PKR / May 14	293,124
Petrol/Litre / May 15	252.63
Crude Oil USD/Barrel / May 15	60.66
Gold Spot USD/Ounce / May 15	3,162.99
Diesel/Litre / May 15	256.64
Cotton US¢/pound / May 15	65.21

Stock	Price
Cres.Star Ins. / May 15 Crescent Star Insurance Limited(CSIL)	3.02 ▲ 0.41 (15.71%)
Parmount Sp. / May 15 Paramount Spinning Mills Limited(PASM)	3.70 ▲ 0.46 (14.2%)
Ghani Chemworld / May 15 Ghani Chemworld Limited(GCWL)	9.14 ▲ 1 (12.29%)
S.G.Power / May 15 S.G. Power Limited(SGPL)	8.65 ▲ 0.94 (12.19%)
Premier Insurance / May 15 Premier Insurance Limited(PINL)	5.83 ▲ 0.63 (12.12%)
Dewan Mushtaq / May 15 Dewan Mushtaq Textile Mills Limited(DMTM)	9.83 ▲ 1 (11.33%)
Hala Enterprise / May 15 Hala Enterprises Limited(HAEL)	13.26 ▲ 1.21 (10.04%)
P.T.C.L. / May 15 Pakistan Telecommunication Company Ltd(PTC)	22.06 ▲ 2.01 (10.02%)
Flying Cement / May 15 Flying Cement Company Limited(FLYNG)	49.46 ▲ 4.5 (10.01%)
Octopus Digital / May 15 Octopus Digital Limited(OCTOPUS)	52.09 ▲ 4.74 (10.01%)

Stock	Price
Olympia Mills / May 15 Olympia Mills Limited(OML)	50.47 ▼ -5.06 (-9.11%)
Hussain Industries / May 15 Husein Industries Limited(HUSI)	26.65 ▼ -2.64 (-9.01%)
Apna Microfin. / May 15 Apna Microfinance Bank Limited(AMBL)	10.04 ▼ -0.91 (-8.31%)
Askari Life Assur. / May 15 Askari Life Assurance Company Limited(ALAC)	4.63 ▼ -0.35 (-7.03%)
Imperial Limited / May 15 Imperial Limited(IML)	16.52 ▼ -1.23 (-6.93%)
B. F. Mod. / May 15 B.F. Modaraba(BFMOD)	8.73 ▼ -0.61 (-6.53%)
Punjab Oil / May 15 Punjab Oil Mills Limited(POML)	186.82 ▼ -11.54 (-5.82%)
Equity Modaraba / May 15 First Equity Modaraba(FEM)	2.85 ▼ -0.16 (-5.32%)
Pakgen Power / May 15 Pakgen Power Limited(PKGP)	114.14 ▼ -6.39 (-5.3%)
Ashfaq Textile / May 15 Ashfaq Textile Mills Limited(ASHT)	12.34 ▼ -0.68 (-5.22%)

Stock	Volume
Pak Refinery / May 15 Pakistan Refinery Limited(PRL)	50,818,876 ▲ 2.68
Cnergyico PK / May 15 Cnergyico PK Limited(CNERGY)	47,570,881 ▲ 0.48
K-Electric Ltd. / May 15 K-Electric Limited(KEL)	40,246,546 ▲ 0.16
Kohinoor Spining / May 15 Kohinoor Spinning Mills Limited(KOSM)	32,888,417 ▲ 0.18
At-Tahur Ltd. / May 15 At-Tahur Limited(PREMA)	29,667,657 ▲ 4.48
Sui South Gas / May 15 Sui Southern Gas Company Limited(SSGC)	25,344,612 ▲ 0.91
Waves Corporation / May 15 Waves Corporation Limited(WAVES)	21,773,148 ▲ 0.29
Pak Petroleum / May 15 Pakistan Petroleum Limited(PPL)	16,962,449 ▲ 3.34
B.O.Punjab / May 15 The Bank of Punjab(BOP)	16,957,410 ▲ 0.15
WorldCall Telecom / May 15 Worldcall Telecom Limited(WTL)	16,572,822 ▲ 0.03

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