Pakistan State Oil (PSO) has the permission from the government to stop furnace oil supply to Pakistan Electric Power Company (Pepco) and Hub Power Company (Hubco) after their receivables touch Rs 22.87 billion, sources in Petroleum Ministry told Busin
Pakistan State Oil (PSO) has the permission from the government to stop furnace oil supply to Pakistan Electric Power Company (Pepco) and Hub Power Company (Hubco) after their receivables touch Rs 22.87 billion, sources in Petroleum Ministry told Busin
The federal government has announced to extend the six percent research and development support programme for the apparel sector for the next one-year. The announcement was made in a meeting held at Islamabad between Finance Minister Syed Naveed Qamar and
The federal government has announced to extend the six percent research and development support programme for the apparel sector for the next one-year. The announcement was made in a meeting held at Islamabad between Finance Minister Syed Naveed Qamar and
The federal government has announced to extend the six percent research and development support programme for the apparel sector for the next one-year. The announcement was made in a meeting held at Islamabad between Finance Minister Syed Naveed Qamar and
Talks on a new world trade pact broke down without agreement here Tuesday, delegates said, after more than a week of bitter wrangling. "The package that we were able to negotiate and agree on Friday night is not going to carry the day," US Trade Represent
Talks on a new world trade pact broke down without agreement here Tuesday, delegates said, after more than a week of bitter wrangling. "The package that we were able to negotiate and agree on Friday night is not going to carry the day," US Trade Represent
Talks on a new world trade pact broke down without agreement here Tuesday, delegates said, after more than a week of bitter wrangling. "The package that we were able to negotiate and agree on Friday night is not going to carry the day," US Trade Represent
Appreciating the introduction of "Reconstruction Opportunity Zones (ROZ) Bill" in the US Congress, Prime Minister Syed Yousuf Raza Gilani has admitted before the US Senators and foreign diplomats that Pakistan is not only facing the challenges of extremis
Appreciating the introduction of "Reconstruction Opportunity Zones (ROZ) Bill" in the US Congress, Prime Minister Syed Yousuf Raza Gilani has admitted before the US Senators and foreign diplomats that Pakistan is not only facing the challenges of extremis
Appreciating the introduction of "Reconstruction Opportunity Zones (ROZ) Bill" in the US Congress, Prime Minister Syed Yousuf Raza Gilani has admitted before the US Senators and foreign diplomats that Pakistan is not only facing the challenges of extremis
The State Bank of Pakistan (SBP) has further tightened its monetary policy for another six months to curb the rising inflationary trend by increasing the key discount rate by 100 basis points (bps). The central bank has also instructed federal government
The State Bank of Pakistan (SBP) has further tightened its monetary policy for another six months to curb the rising inflationary trend by increasing the key discount rate by 100 basis points (bps). The central bank has also instructed federal government
The State Bank of Pakistan (SBP) has further tightened its monetary policy for another six months to curb the rising inflationary trend by increasing the key discount rate by 100 basis points (bps). The central bank has also instructed federal government
The State Bank of Pakistan (SBP) has further tightened its monetary policy for another six months to curb the rising inflationary trend by increasing the key discount rate by 100 basis points (bps). The central bank has also instructed federal government
US Democratic presidential candidate Barack Obama on Tuesday met with Prime Minister Yousaf Raza Gilani here on Tuesday and discussed relations between the two countries. The presumptive Democratic nominee is a co-sponsor of the recently introduced Biden-
Alaska Senator Ted Stevens, the longest-serving Republican in the US Senate, has been indicted for making false statements concerning gifts he received from an oil-services firm, the Justice Department said Tuesday.
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
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
US rice futures on the Chicago Board of Trade ended higher on Monday in choppy, light volume, traders said. Firmer Asian rice prices and concerns about a hot weather in the top US rice state of Arkansas were supportive features. CBOT September rice ended
Tokyo rubber futures inched down to hover above 331 yen on Tuesday, on light selling triggered by a firmer yen. Traders continued to look to the crude oil market - currently down some 15 percent from a July 11 record above $147 - for direction.
US copper futures managed to eke out a modest gain by the close on Monday as a weakening dollar and strength in surrounding markets enabled the red metal to reverse an early bout of liquidation. Copper for September delivery ended up 0.70 cent at $3.6120
Vietnam's domestic coffee prices stayed stable in the past week but traders expect prices to firm this week on the back of quickly thinning stocks. Robusta beans were quoted around 35,500 dong ($2.15) per kg in Daklak, Vietnam's largest coffee growing pro
Raw sugar futures finished lower on Monday on investor and trade sales as the recovery from a fall last week to a 3-1/2 week low ran out of steam, brokers said. The October raw sugar contract fell 0.12 cent to end at 12.32 cents per lb, dealing from 12.14
US soybean futures on the Chicago Board of Trade closed higher Monday on a technical bounce after sliding to a seven-week low last week, traders said. Concerns about hotter weather moving into the US Midwest crop belt starting late this week provided supp
Malaysian crude palm oil futures dropped as much as 4.7 percent to seven-and-a-half month lows on Tuesday, slipping below a key resistance level of 3,000 ringgit on signs of rising stocks of the vegetable oil. Palm oil, stricken in recent weeks by weakeni
Malaysian tin eased 0.4 percent on Tuesday to its lowest level since June 18, in a technical correction against London Metal Exchange prices, one dealer said.
US gold futures retreated on Monday due to a lack of market driving news, while platinum extended last week's losses on fears of lower autocatalyst demand because of poor US auto sales.
Gold rose above $930 on Tuesday as firming oil prices burnished the metal's appeal as a hedge against inflation, while weak stock markets encouraged some speculators to shift some of their money back to bullion.
Oil edged higher on Tuesday, as tensions in Iran and Nigeria raised supply worries, although gains were limited ahead of the release of US oil inventory data this week, which is expected to show weakening demand. US light crude for September delivery was
A surge in Argentine soyabean exports is likely in July and cut US shipments, Hamburg-based oilseeds analysts Oil World said on Tuesday. But it added that another tax move by Buenos Aires has again hit Argentine shipments after the government repealed on
The Karachi Port handled 130,397 tonnes of cargo including 70,349 tonnes of import, 60,048 tonnes of export cargo and 2,565 loaded and empty containers (TEUs) during last 24 hours ended at 0700 hours on Tuesday.
Indonesia will spend as much as 1.6 trillion rupiah ($175 million) this year on revitalising cocoa plantations and tackling the spread of pests and diseases which threaten output, an agriculture official said on Tuesday. Indonesia, the world's third-large
Canadian canola futures settled higher on Monday after choppy US soya futures turned higher, with crushers seen as the best buyers and light fund selling noted, traders said. "Every time bean oil was making a new high, crushers were buyers," a trader said
Spot basis bids for corn were steady to firm on Monday after weeks of slow farmer selling left some dealers searching for supplies while soyabean bids were mostly unchanged. Farmer selling of both corn and soyabeans was slow again on Monday as cash prices
The average price of Bangladesh teas rose 0.68 percent to 120.60 taka ($1.76) per kg on higher demand at the weekly auction on Tuesday, brokers said. More than 1.52 million kg were sold at 120.60 taka per kg on average, up 0.82 taka from the last sale. Th
The global fall in vegetable oil prices in July has sparked a recovery in physical demand noticeably for biofuel production, Hamburg-based oilseeds analysts Oil World said on Tuesday. "The steep price setback seen in the past few days suggested that deman
US wheat futures closed lower on Monday, retreating after an early rally on technical selling that included profit-taking from sharp gains on Friday, traders said. Plentiful global wheat supplies and weak cash markets for soft red winter wheat added press
Edible oil futures sank across the board in China on Tuesday, continuing a month of losses, as traders feared more supply would be dumped into a market where consumption is already weak. China is expected to release crude soyoil from reserves for refining
The first-ever peak was seen in the history of cotton business as supply was tight during the strong demand by the mills, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 3,900, they said. In the ready business, ph
Falling trend was seen on the grain market on Tuesday, grams prices came down on easy supply, dealers said. On the grams side, yellow peas Canada fell by Rs 50 to Rs 3800-4050, yellow peas dal Canada failed to retain the previous levels amid easy supply,
Standard Bank, Africa's largest bank by assets, opened a full-service branch in Congo's mineral-rich Katanga region on Tuesday in a bid to expand business with mining firms and wealthy individuals. The opening of the branch in Lubumbashi represents a move
South Korea's $230 billion state pension fund plans to aggressively diversify its investment away from bonds into acquisitions of companies at home and abroad to boost profits, its president said on Tuesday.
The Chief Executive of BP Plc threatened his oligarch partners in TNK-BP with a long and hard fight in their battle for control of the Russian oil company, as BP reported better-than-forecast quarterly profits. Tony Hayward said BP would use "all legal me
The Chief Executive of BP Plc threatened his oligarch partners in TNK-BP with a long and hard fight in their battle for control of the Russian oil company, as BP reported better-than-forecast quarterly profits. Tony Hayward said BP would use "all legal me
Colgate-Palmolive Co on Tuesday reported a 19 percent jump in quarterly profit as price increases and sales in emerging markets and North America helped offset soaring commodity costs and weakness in parts of Western Europe. The weaker dollar also helped
Colgate-Palmolive Co on Tuesday reported a 19 percent jump in quarterly profit as price increases and sales in emerging markets and North America helped offset soaring commodity costs and weakness in parts of Western Europe. The weaker dollar also helped
An Indonesian court sentenced a businesswoman to five years in jail on Tuesday for bribing a public prosecutor to drop a high-profile investigation in a scandal that has rocked the Attorney General's office.
The International Olympic Committee (IOC) will investigate apparent censorship of the Internet service provided for media covering the Beijing Olympics, press chief Kevan Gosper said on Tuesday. China, which has promised media the same freedom to report o
Hard-line nationalists gathered to show their support for war crimes suspect Radovan Karadzic on Tuesday, while Serbian authorities and his legal team played a cat-and-mouse game over his extradition. The leader of the Bosnian Serbs in the 1992-95 Bosnia
A Guantanamo prison cell door opened a crack to reveal an eye peering from the shadows within. A photographer focused through layers of fencing and barbed wire, and the door snapped shut. When the door cracked open again, the accused terrorist inside resp
The United States should shift strategy against al Qaeda from the current heavy reliance on military force to more effective use of police and intelligence work, a study released Tuesday concluded. The study by the RAND Corporation, a think tank that ofte
Gulf Arab inflation showed signs of moderating on Tuesday after months of rapid rises drove it to record levels, but pressures from elevated food and housing costs threaten to plague the region for years. Kuwait's red hot inflation cooled slightly in May
Merrill Lynch & Co said on Monday it will take a $5.7 billion third-quarter write-down as it unloads huge amounts of risky debt, and will raise $8.5 billion by selling new stock. The Wall Street investment bank and brokerage announced its plans less than
Merrill Lynch & Co said on Monday it will take a $5.7 billion third-quarter write-down as it unloads huge amounts of risky debt, and will raise $8.5 billion by selling new stock. The Wall Street investment bank and brokerage announced its plans less than
Alcatel-Lucent ousted its chairman and chief executive on Tuesday and lowered profit expectations yet again - further evidence that Asian rivals, Ericsson and Nortel are taking market share. The world's No 1 provider of fixed-line telecoms networks has lo
Alcatel-Lucent ousted its chairman and chief executive on Tuesday and lowered profit expectations yet again - further evidence that Asian rivals, Ericsson and Nortel are taking market share. The world's No 1 provider of fixed-line telecoms networks has lo
The top UN humanitarian affairs official said on Monday the world body had suffered "significant" losses while delivering cyclone aid to Myanmar due to a distorted official exchange rate.
Sony Corp posted a bigger-than-expected 47 percent fall in quarterly profit and cut its outlook, hurt by its struggling mobile phone joint venture with Sweden's Ericsson, while rival Matsushita nearly doubled its profit on rising flat TV sales.
Sony Corp posted a bigger-than-expected 47 percent fall in quarterly profit and cut its outlook, hurt by its struggling mobile phone joint venture with Sweden's Ericsson, while rival Matsushita nearly doubled its profit on rising flat TV sales.
US consumer confidence crept higher in July from the previous month's 16-year low as worries over inflation receded slightly, the Conference Board said on Tuesday. The Conference Board said its overall monthly measure of consumers' mood rose to 51.9 this
British retail sales fell this month at their fastest pace in at least a quarter century and consumers are finding it increasingly hard to get home loans in a housing market downturn that threatens to derail the economy. Bank of England data showed mortga
British Airways and Spain's Iberia are in talks to forge the latest in a series of European airline mergers that could also form the basis of a three-way transatlantic tie-up. The UK carrier said on Tuesday the talks were about a potential all-share merge
The European Union on Tuesday kept up pressure on Serbia to do more to resolve war crimes by again delaying a decision on unfreezing trade benefits despite the arrest of former Bosnian Serb leader Radovan Karadzic. After Karadzic's arrest last week, EU En
The commander of the latest US shuttle mission Tuesday welcomed the advent of space tourism, predicting that such travel is on the brink of the massive growth seen a century ago with airplanes. "The private sector can go out and make money doing something
India's central bank raised its benchmark rate by 50 basis points on Tuesday to its highest in seven years and hiked the cash reserve ratio, delivering a bigger-than-expected tightening to quell double-digit inflation. The central bank raised the short-te
Japan's jobless rate rose to a near two-year high in June as factories froze hiring, threatening to hit shrinking household spending and an economy that probably contracted in the second quarter. With export markets also crumbling, Japan's longest post-wa
Germany's Deutsche Lufthansa scrapped about 70 of its 2,000 daily flights on Tuesday as thousands of ground and cabin staff struck over pay for a second day. The routes affected were short-haul services with high frequencies, enabling it to switch passeng
European chemical companies warned on Tuesday of rising raw material and energy prices against a weakening economic backdrop and their results reflected sharp differences in how they were coping. Shares in Dutch chemicals group Akzo Nobel NV and Germany's
At a forgotten edge of Kenya's economy, remoteness has been no protection from the global pain of rising prices for the mountain town of Moyale. It perches at the Ethiopian border, far north of the capital Nairobi across mountains that descend to a forbid
Japanese electronics maker Toshiba made its first quarterly loss in three years as memory chip prices fell and sales of chips used by Sony slowed, but it kept its year outlook above market expectations.
Japanese electronics maker Toshiba made its first quarterly loss in three years as memory chip prices fell and sales of chips used by Sony slowed, but it kept its year outlook above market expectations.
German inflation has dug in at a 15-year high of 3.3 percent, according to an estimate for July released by the national statistics service on Tuesday. The figure for Europe's biggest economy was the same as the one set in June, and represented the highes
National Australia Bank Ltd has refunded hundreds of millions of dollars to irate investors who bought into a bond sale just days before the bank announced a surprise writedown. NAB, Australia's biggest bank by assets, said it gave investors the choice to
National Australia Bank Ltd has refunded hundreds of millions of dollars to irate investors who bought into a bond sale just days before the bank announced a surprise writedown. NAB, Australia's biggest bank by assets, said it gave investors the choice to