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Print - 2008-09-12
Tokyo rubber weaker

Tokyo rubber weaker

Tokyo rubber futures extended their fall on Thursday following losses in the last two sessions as a deteriorating technical trend encouraged day traders to test psychological support of 300 yen per kg. But growing wariness over supplies due to continued r
Published 12 Sep, 2008 12:00am
EMC alerts government against acute gas loadshedding during winter

EMC alerts government against acute gas loadshedding during winter

The Ministry of Petroleum (MoP) on Thursday informed the economic monitory committee (EMC) meeting, with Finance Minister Syed Naveed Qamar in the chair, that the government should get ready for facing acute gas load shedding in the upcoming winter season
Published 12 Sep, 2008 12:00am
US copper gains

US copper gains

US copper futures ended up for the first time in five sessions Wednesday after a reduced production outlook from a top producer and an earthquake in northern Chile reignited some fears of a supply short-fall. Spot September gained 2.85 cents to close at $
Published 12 Sep, 2008 12:00am
EMC alerts government against acute gas loadshedding during winter

EMC alerts government against acute gas loadshedding during winter

The Ministry of Petroleum (MoP) on Thursday informed the economic monitory committee (EMC) meeting, with Finance Minister Syed Naveed Qamar in the chair, that the government should get ready for facing acute gas load shedding in the upcoming winter season
Published 12 Sep, 2008 12:00am
New York sugar firmer

New York sugar firmer

Raw sugar futures closed steady on Wednesday as the market took a breather for several days of investment liquidation and brokers concentrated on switch trade for now, analysts said. The October raw sugar contract rose 0.04 cent to settle at 12.14 cents p
Published 12 Sep, 2008 12:00am
Japan to withdraw air force from Iraq mission

Japan to withdraw air force from Iraq mission

Japan is to withdraw its air force from missions in Iraq, where they have been flying supplies in support of US-led forces, Foreign Minister Masahiko Komura said on Thursday. The mission, based in Kuwait and involving about 210 air force personnel, will f
Published 12 Sep, 2008 12:00am
Focus on cotton demand in USDA supply data

Focus on cotton demand in USDA supply data

Cotton industry analysts said on Wednesday the trade will be look closely at consumption estimates when the US Agriculture Department releases its monthly supply/demand report on Friday. USDA will release the report at 8:30 am EDT (1230 GMT).
Published 12 Sep, 2008 12:00am
Japan to withdraw air force from Iraq mission

Japan to withdraw air force from Iraq mission

Japan is to withdraw its air force from missions in Iraq, where they have been flying supplies in support of US-led forces, Foreign Minister Masahiko Komura said on Thursday. The mission, based in Kuwait and involving about 210 air force personnel, will f
Published 12 Sep, 2008 12:00am
Soyabean futures slip

Soyabean futures slip

US soybean futures on the Chicago Board of Trade sank on Wednesday, hovering near a five-month low, on good crop weather and a firmer dollar, traders said. September soybeans closed 27-1/2 cents lower at $11.81-1/2 a bushel. New-crop November ended 23 dow
Published 12 Sep, 2008 12:00am
Clash between dockers, stevedores hits working at port

Clash between dockers, stevedores hits working at port

Work on a cement ship at Karachi Port came to a halt on Thursday after labourers from Karachi Docks Labour Board (KDLB) and staffers of a stevedoring firm clashed on a dispute over the issue of detention.
Published 12 Sep, 2008 12:00am
Malaysian palm oil futures drop

Malaysian palm oil futures drop

Malaysian crude palm oil futures ended down nearly 1 percent on Thursday, recouping some losses after falling as much as 2.3 percent on worries over slowing overseas demand. The benchmark November crude palm oil contract on the Bursa Malaysia Derivatives
Published 12 Sep, 2008 12:00am
Clash between dockers, stevedores hits working at port

Clash between dockers, stevedores hits working at port

Work on a cement ship at Karachi Port came to a halt on Thursday after labourers from Karachi Docks Labour Board (KDLB) and staffers of a stevedoring firm clashed on a dispute over the issue of detention.
Published 12 Sep, 2008 12:00am
Malaysian tin ends flat

Malaysian tin ends flat

Malaysian tin was flat on Thursday despite losses on the LME, one dealer said.
Published 12 Sep, 2008 12:00am
Clash between dockers, stevedores hits working at port

Clash between dockers, stevedores hits working at port

Work on a cement ship at Karachi Port came to a halt on Thursday after labourers from Karachi Docks Labour Board (KDLB) and staffers of a stevedoring firm clashed on a dispute over the issue of detention.
Published 12 Sep, 2008 12:00am
US gold, precious slide

US gold, precious slide

US gold and other precious metals accelerated their declines on Wednesday, ending with sharp losses as some investors continued to unwind short dollar and long commodity positions when the dollar rose to its latest year high, analysts said. Crude oil pric
Published 12 Sep, 2008 12:00am
No let-up in bearish trend on LSE

No let-up in bearish trend on LSE

Bearish sentiments continued to prevail on the Lahore Stock Exchange (LSE) on Thursday and the banking sector led the equities downward amid selling pressure on account of US Joint Chiefs of Staff (JCS) Mike Mullen's statement that Pentagon has revised st
Published 12 Sep, 2008 12:00am
Gold strikes fresh 11-month low

Gold strikes fresh 11-month low

Gold extended losses on Thursday and dropped to its weakest since October 2007 after the dollar rallied to a 1-year high against the euro, prompting selling from investors. Investors, who propelled gold to a lifetime high of $1,030.80 in March on inflatio
Published 12 Sep, 2008 12:00am
No let-up in bearish trend on LSE

No let-up in bearish trend on LSE

Bearish sentiments continued to prevail on the Lahore Stock Exchange (LSE) on Thursday and the banking sector led the equities downward amid selling pressure on account of US Joint Chiefs of Staff (JCS) Mike Mullen's statement that Pentagon has revised st
Published 12 Sep, 2008 12:00am
Oil bounces above $103

Oil bounces above $103

Oil prices bounded above $103 a barrel on Thursday after falling to another five-month low the previous day, drawing support from Hurricane Ike and Opec's surprise output cut while wary traders watched the US dollar. The dollar briefly touched a new one-y
Published 12 Sep, 2008 12:00am
ISE index loses 4.72 points

ISE index loses 4.72 points

Bears returned in the driving seat at the Islamabad Stock Exchange (ISE) where major players and short-term margin hunters adopted a cautious approach to avoid heavy losses amid decrease in index. ISE-10 Index showed a decrease of 4.72 points as it moved
Published 12 Sep, 2008 12:00am
Key players ready to try again for WTO deal: Lamy

Key players ready to try again for WTO deal: Lamy

Major economies are ready for another shot at the Doha Round negotiations to clinch an accord on freeing up global commerce, World Trade Organisation (WTO) chief Pascal Lamy said on Thursday.
Published 12 Sep, 2008 12:00am
ISE index loses 4.72 points

ISE index loses 4.72 points

Bears returned in the driving seat at the Islamabad Stock Exchange (ISE) where major players and short-term margin hunters adopted a cautious approach to avoid heavy losses amid decrease in index. ISE-10 Index showed a decrease of 4.72 points as it moved
Published 12 Sep, 2008 12:00am
Slim owns six percent of New York Times

Slim owns six percent of New York Times

Mexican telecommunications tycoon and billionaire Carlos Slim has bought a 6.4 percent stake in The New York Times Co, the newspaper publisher said on Wednesday. Slim, the world's second-richest man according to Forbes magazine, is the second prominent in
Published 12 Sep, 2008 12:00am
Tears, political truce mark 9/11 anniversary

Tears, political truce mark 9/11 anniversary

Survivors mourned at New York's Ground Zero on Thursday as John McCain and Barack Obama suspended their rancorous White House campaign to commemorate the seventh anniversary of the 9/11 attacks. A moment of silence began ceremonies at the side of the gian
Published 12 Sep, 2008 12:00am
Brown defies energy windfall tax calls

Brown defies energy windfall tax calls

British Prime Minister Gordon Brown on Thursday ruled out imposing a special tax on energy companies' windfall profits, defying pressure from trade unions and members of his own Labour Party.
Published 12 Sep, 2008 12:00am
Pentagon dedicates first September 11 memorial

Pentagon dedicates first September 11 memorial

President George W. Bush dedicated the first September 11 memorial Thursday at the Pentagon, hailing the "heroes of 9/11" and the absence of terrorist attacks on US soil in the seven years since. Americans visiting the memorial, a simple plaza with cantil
Published 12 Sep, 2008 12:00am
US trade gap widens to $62.2 billion

US trade gap widens to $62.2 billion

The US trade deficit widened much more than expected in July as average oil prices jumped to a record $124.66 per barrel and the volume of crude oil imports grew to the highest in four years, a US Commerce Department report showed on Thursday.
Published 12 Sep, 2008 12:00am
Brown seeks new approach on Pak-Afghan border

Brown seeks new approach on Pak-Afghan border

British Prime Minister Gordon Brown said on Thursday he will press Pakistan to allow US and Nato troops in Afghanistan to take a new approach to hunting Taliban and al Qaida-linked militants who slip back and forth between the neighbouring nations.
Published 12 Sep, 2008 12:00am
Japan's machine orders hit by export slump, recession

Japan's machine orders hit by export slump, recession

Japan's core private-sector machinery orders shrank in July as manufacturers prepared to cut capital spending, hunkering down for a slump in export markets and recession at home.
Published 12 Sep, 2008 12:00am
Brown seeks new approach on Pak-Afghan border

Brown seeks new approach on Pak-Afghan border

British Prime Minister Gordon Brown said on Thursday he will press Pakistan to allow US and Nato troops in Afghanistan to take a new approach to hunting Taliban and al Qaida-linked militants who slip back and forth between the neighbouring nations.
Published 12 Sep, 2008 12:00am
India sets new biofuel target, risks food price row

India sets new biofuel target, risks food price row

India on Thursday set an ambitious 20 percent target for biofuels use within a decade, threatening to revive the food-versus-fuel debate just as global food prices stabilise to the relief of poor consumers and governments.
Published 12 Sep, 2008 12:00am
Bush allowed raids into Pakistan in July: New York Times

Bush allowed raids into Pakistan in July: New York Times

President George W. Bush secretly approved orders in July allowing US special forces to carry out ground assaults inside Pakistan without approval from the Pakistan government, the New York Times reported on Thursday.
Published 12 Sep, 2008 12:00am
UAE banks step up security

UAE banks step up security

Banks in the United Arab Emirates have introduced new security measures and warned customers to change debit and credit card codes after fraudsters used counterfeit cards to withdraw money from accounts.
Published 12 Sep, 2008 12:00am
Bush allowed raids into Pakistan in July: New York Times

Bush allowed raids into Pakistan in July: New York Times

President George W. Bush secretly approved orders in July allowing US special forces to carry out ground assaults inside Pakistan without approval from the Pakistan government, the New York Times reported on Thursday.
Published 12 Sep, 2008 12:00am
Indian inflation eases again

Indian inflation eases again

Indian inflation eased for the third week running at the end of August and a top policy adviser said it may have peaked, but analysts said pressures remained and the central bank could still tighten policy again.
Published 12 Sep, 2008 12:00am
World oil price decline: country saves $102 million

World oil price decline: country saves $102 million

Following a decline in the international oil prices, the country''s oil import payments have scaled down by 102 million dollars in the first month of the current fiscal year giving a breathing space to the State Bank of Pakistan with regard to foreign pay
Published 12 Sep, 2008 12:00am
Health of world's big banks improving: IIF

Health of world's big banks improving: IIF

The world's largest financial institutions are getting healthier, with credit-related losses expected to ease over the next year, the head of an international banking group said Thursday.
Published 12 Sep, 2008 12:00am
World oil price decline: country saves $102 million

World oil price decline: country saves $102 million

Following a decline in the international oil prices, the country's oil import payments have scaled down by 102 million dollars in the first month of the current fiscal year giving a breathing space to the State Bank of Pakistan with regard to foreign paym
Published 12 Sep, 2008 12:00am
Opec decision to help stop oil price fall: Libya

Opec decision to help stop oil price fall: Libya

Opec will effectively cut its oil output following its meeting this week, a move that will support oil prices, the top oil official for Opec member Libya said on Thursday. The exporter group called for members to "strictly comply" with their formal supply
Published 12 Sep, 2008 12:00am
World oil price decline: country saves $102 million

World oil price decline: country saves $102 million

Following a decline in the international oil prices, the country's oil import payments have scaled down by 102 million dollars in the first month of the current fiscal year giving a breathing space to the State Bank of Pakistan with regard to foreign paym
Published 12 Sep, 2008 12:00am
EU panel votes to cut goal for biofuels from crops

EU panel votes to cut goal for biofuels from crops

A key panel of European Union lawmakers voted on Thursday to lower a target for using traditional biofuels from crops in petrol and diesel as part of the EU's plan to fight climate change. The move could curb the growth of a market coveted by biofuels exp
Published 12 Sep, 2008 12:00am
ArcelorMittal delays raising costs in India projects

ArcelorMittal delays raising costs in India projects

ArcelorMittal is facing cost overruns for its projects in India because of delays in securing regulatory approvals, and is looking to expand in other emerging markets, its chairman said on Wednesday.
Published 12 Sep, 2008 12:00am
Bangladesh expatriate remittances up 55.6 percent

Bangladesh expatriate remittances up 55.6 percent

Bangladesh received $732.98 million in remittances from expatriate workers in August, up 55.6 percent from a year earlier but down from a record high of $820.7 million in July, the central bank said on Thursday. Remittances hit a record $7.9 billion in th
Published 12 Sep, 2008 12:00am
Crisis, what crisis? ask Russia policymakers

Crisis, what crisis? ask Russia policymakers

The stock market has plunged more than 40 percent, some foreign investors have fled and the rouble is under pressure, but Russia's policymakers aren't too bothered.
Published 12 Sep, 2008 12:00am
100 militants killed in clashes

100 militants killed in clashes

Pakistani troops backed by tanks and fighter jets Thursday killed as many as 100 militants in a restive north-western tribal area near the Afghan border, officials said. Pakistani forces have for weeks been targeting militant positions in Bajaur tribal re
Published 12 Sep, 2008 12:00am
New Zealand cuts rates more than expected

New Zealand cuts rates more than expected

Faced with a rapidly slowing economy, New Zealand's central bank cut the official interest rate by half a percentage point on Thursday, double the reduction forecast by analysts. A cut in the official cash rate (OCR) of a quarter of a percentage point had
Published 12 Sep, 2008 12:00am
100 militants killed in clashes

100 militants killed in clashes

Pakistani troops backed by tanks and fighter jets Thursday killed as many as 100 militants in a restive north-western tribal area near the Afghan border, officials said. Pakistani forces have for weeks been targeting militant positions in Bajaur tribal re
Published 12 Sep, 2008 12:00am
Emerging nations look to SWFs to help domestic markets

Emerging nations look to SWFs to help domestic markets

After piling up trillions of dollars in sovereign wealth funds and whetting the appetite of Western brokers, developing nations could now be forced to rethink strategies and tap this rainy-day capital for their own shaky domestic markets.
Published 12 Sep, 2008 12:00am
US attack will be retaliated: DG ISPR

US attack will be retaliated: DG ISPR

Director General Inter Services Public Relation (ISPR), Major General Athar Abbas on Thursday said that if US forces in Afghanistan continue to carry out attack inside Pakistan than it would be retaliated. In an interview with BBC, Athar Abbas said that t
Published 12 Sep, 2008 12:00am
Emerging nations look to SWFs to help domestic markets

Emerging nations look to SWFs to help domestic markets

After piling up trillions of dollars in sovereign wealth funds and whetting the appetite of Western brokers, developing nations could now be forced to rethink strategies and tap this rainy-day capital for their own shaky domestic markets.
Published 12 Sep, 2008 12:00am
US attack will be retaliated: DG ISPR

US attack will be retaliated: DG ISPR

Director General Inter Services Public Relation (ISPR), Major General Athar Abbas on Thursday said that if US forces in Afghanistan continue to carry out attack inside Pakistan than it would be retaliated. In an interview with BBC, Athar Abbas said that t
Published 12 Sep, 2008 12:00am
Canadian productivity sags

Canadian productivity sags

Canada's labour productivity has fallen for a third straight quarter, the longest decline since 1990, and a track record that analysts said shows businesses are on unsteady footing as the economy flirts with recession.
Published 12 Sep, 2008 12:00am
Nato says won't take part in raids

Nato says won't take part in raids

Nato will not take part in a proposed US strategy of conducting raids into Pakistan from Afghanistan against Taliban and al Qaeda militants, a spokesman said on Thursday. "The Nato policy, that is our mandate, ends at the border," James Appathurai told a
Published 12 Sep, 2008 12:00am
Nato says won't take part in raids

Nato says won't take part in raids

Nato will not take part in a proposed US strategy of conducting raids into Pakistan from Afghanistan against Taliban and al Qaeda militants, a spokesman said on Thursday. "The Nato policy, that is our mandate, ends at the border," James Appathurai told a
Published 12 Sep, 2008 12:00am
JCDecaux, News Corp in talks to merge outdoor ads

JCDecaux, News Corp in talks to merge outdoor ads

JCDecaux and News Corp are in exclusive talks to combine some of their outdoor advertising activities, they said, a move that could create the world's largest billboard advertising group. JCDecaux, the world's number two outdoor advertising group after Cl
Published 12 Sep, 2008 12:00am
French industrial output surprisingly strong

French industrial output surprisingly strong

French industrial output rebounded more strongly than expected in July, official data showed on Wednesday, suggesting the economy might narrowly avoid slipping into a recession. National statistics office INSEE said output jumped 1.2 percent month-on-mont
Published 12 Sep, 2008 12:00am
Housing woes may topple 200 US banks: Nobel winner

Housing woes may topple 200 US banks: Nobel winner

The moribund US housing market will need another two to three years before it recovers, and 100 to 200 banks in the country may collapse in the next year, a Nobel economics laureate said.
Published 12 Sep, 2008 12:00am
Taiwan stocks fall 3.2 percent

Taiwan stocks fall 3.2 percent

Taiwan stocks fell 3.2 percent to their lowest close in more than 2-years on Thursday, ignoring a government move to boost the market with a tax break on worries about big tech names like TSMC struggling with weaker demand.
Published 12 Sep, 2008 12:00am
Hong Kong shares at 18-month low

Hong Kong shares at 18-month low

Hong Kong shares fell 3.1 percent on Thursday to their lowest close in 18 months as investors dumped shares in Chinese firms amid deepening fears of a global slowdown and a lack of growth-supportive policies from Beijing. "Investors are extremely cautious
Published 12 Sep, 2008 12:00am
US stocks up

US stocks up

US stocks rose on Wednesday as Opec's move to shore up oil prices boosted energy shares and Texas Instruments' outlook soothed fear about technology spending even as worries persisted about the health of the banking sector. The broader market's gains came
Published 12 Sep, 2008 12:00am
US Treasury prices slip

US Treasury prices slip

US Treasuries slid on Wednesday as stock market gains cut investors' bid for safe-haven US government debt and expectations of increased supply also weighed. After a steep rally earlier this week that pushed benchmark yields to their lowest levels since A
Published 12 Sep, 2008 12:00am
US Treasury prices slip

US Treasury prices slip

US Treasuries slid on Wednesday as stock market gains cut investors' bid for safe-haven US government debt and expectations of increased supply also weighed. After a steep rally earlier this week that pushed benchmark yields to their lowest levels since A
Published 12 Sep, 2008 12:00am
China stock index sinks 3.3 percent

China stock index sinks 3.3 percent

China's main stock index slid 3.34 percent to a fresh 21-month closing low on Thursday, led by blue chips, as gloom over the slowing economy and large supplies of fresh equity persisted. The Shanghai Composite Index ended at 2,078.981 points, near the day
Published 12 Sep, 2008 12:00am
Seoul shares slip

Seoul shares slip

Seoul shares ended lower on Thursday led by banks on credit worries after Lehman Brothers reported unexpectedly big losses overnight, with heavy programme selling due to options and futures expiries adding to volatility. The Korea Composite Stock Price In
Published 12 Sep, 2008 12:00am
Jakarta shares dip

Jakarta shares dip

Indonesian shares closed 0.8 percent lower on Thursday, hurt by a weaker rupiah and further selling in commodity-related stocks, dealers said. The Jakarta Composite Index fell 14.91 points to 1,870.13 in moderate volume.
Published 12 Sep, 2008 12:00am
Philippines shares weaken

Philippines shares weaken

Philippines share prices closed 1.36 percent lower on Thursday amid renewed fears about the global economic slowdown, dealers said. The composite index fell 36.93 points to 2,672.56 points. The all-share index fell 1.04 percent to 1,656.50 points.
Published 12 Sep, 2008 12:00am
Singapore share prices end 3.1 percent down

Singapore share prices end 3.1 percent down

Singapore shares closed 3.1 percent lower on Thursday, pulled down by concerns over slowing growth and jitters about Lehman Brothers' financial troubles, dealers said. The blue chip Straits Timex Index fell 81.26 points to 2,541.15. Volume traded totalled
Published 12 Sep, 2008 12:00am
Tokyo stocks finish at six-month low

Tokyo stocks finish at six-month low

The Nikkei average fell 2 percent to a nearly six-month closing low on Thursday, with banks like Mitsubishi UFJ Financial Group suffering after Lehman Brothers failed to alleviate worries about its ability to survive the credit crisis.
Published 12 Sep, 2008 12:00am
Indian shares tumble

Indian shares tumble

Indian shares fell 2.31 percent on Thursday as investors ignored overnight gains on Wall Street, on concerns that more bad news could emerge from the US financial sector, dealers said. The benchmark 30-share Sensex index fell 338.32 points to 14,324.29, t
Published 12 Sep, 2008 12:00am
East African currencies' outlook mixed

East African currencies' outlook mixed

Kenya's shilling is seen weakening in the coming week, Tanzania's might also ease, but the Ugandan unit has a good chance of appreciating against the dollar, dealers said on Wednesday.
Published 12 Sep, 2008 12:00am
Swiss franc rises

Swiss franc rises

The Swiss franc rose against the euro and the dollar on Thursday as traders shunned riskier investments due to worries about slowing European economic growth. "The sell-out of the euro continues. The euro pessimism has been a factor for some weeks now," s
Published 12 Sep, 2008 12:00am
Chinese yuan falls versus dollar

Chinese yuan falls versus dollar

Spot yuan fell against the dollar on Thursday and the Chinese currency pulled back in the offshore forwards market, as the US currency extended its gains globally. Reflecting the dollar's global strength, the Chinese central bank set the yuan's daily mid-
Published 12 Sep, 2008 12:00am
Dollar hits one-year high

Dollar hits one-year high

The dollar advanced to a new one-year high against the euro on Thursday as investors refocused on sluggish economic prospects outside the United States, although worries about the US financial system hung over the market.
Published 12 Sep, 2008 12:00am
US dollar index climbs to 12 month high

US dollar index climbs to 12 month high

The US dollar climbed to a fresh one-year high against major currencies on Wednesday and surged to nearly 12-month highs versus the euro, as falling oil prices and a bounce in US stocks overcame worries about the health of financial firms.
Published 12 Sep, 2008 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 68.52/68.52 (previous 68.52/68.52). Call Money Rates: 6.50-12.00 percent (previous 6.50-12.00 percent).
Published 12 Sep, 2008 12:00am
Australian dollar pressured despite upbeat jobs data

Australian dollar pressured despite upbeat jobs data

The Australian dollar set new lows yet again on Thursday as safe-haven demand for its US counterpart overshadowed surprisingly strong news on the domestic economy. The Aussie was also dragged down by a slumping Kiwi dollar after New Zealand's central bank
Published 12 Sep, 2008 12:00am
Asian currencies: won and rupiah bear brunt of receding risk appetite

Asian currencies: won and rupiah bear brunt of receding risk appetite

The South Korean won lost a further two percent against the dollar and the Indonesian rupiah tumbled on Thursday as troubles in the US financial sector depressed risk appetite. Concerns over Lehman Brothers' ability to raise capital and the broader anxiet
Published 12 Sep, 2008 12:00am
Canadian dollar rises

Canadian dollar rises

The Canadian dollar rose slightly against a generally stronger US dollar on Wednesday as investors focused on weakening growth overseas and bought North American currencies. Domestic bond prices fell as investors moved out of bonds and into the more lucra
Published 12 Sep, 2008 12:00am
Police told to accelerate drive against criminals

Police told to accelerate drive against criminals

Capital City Police Officer Muhammad Pervez Rathore has directed Police to accelerate the campaign against gambling dens, Qabza groups, brothels, use of illegal SIMS and loud speakers in Lahore district.
Published 12 Sep, 2008 12:00am
Application filed against Punjab chief minister

Application filed against Punjab chief minister

An application has been filed in the Lahore High Court (LHC) demanding to constitute a new bench to hold proceedings in a petition challenging the eligibility of Punjab Chief Minister, Mian Shahbaz Sharif. The applicant Shahid Orakzai submitted that the f
Published 12 Sep, 2008 12:00am
CDGL to fix LPG price at Rs 68 per kg

CDGL to fix LPG price at Rs 68 per kg

The City District Government Lahore (CDGL) has on Thursday decided to fix the price of liquefied petroleum gas (LPG) at Rs 68 per kg and directed the LPG companies to increase its supply by 10 percent during the month of Ramazan.
Published 12 Sep, 2008 12:00am
Nation should unite to foil evil designs of external forces: Shahbaz

Nation should unite to foil evil designs of external forces: Shahbaz

Punjab Chief Minister, Mian Muhammad Shahbaz Sharif has said that whole nation should stand united to foil the evil designs of external forces to maintain sovereignty and integrity of the country. He expressed his views while addressing the inaugural cere
Published 12 Sep, 2008 12:00am
Beverage industry demands full FED input adjustments

Beverage industry demands full FED input adjustments

President, Karachi Chamber of Commerce and Industry (KCCI), Shamim Ahmed Shamsi, has urged the Federal Minister for Finance, Syed Naveed Qamar, to allow full Federal Excise Duty (FED) input adjustments on beverage concentrates. In a communication to the m
Published 12 Sep, 2008 12:00am
Agriculture sector burdened with additional Rs 100 billion taxes: forum

Agriculture sector burdened with additional Rs 100 billion taxes: forum

The fragile agriculture sector of the country which is already facing water deficit has been burdened with additional taxes and costs amounting Rs 100 billion during FY 2008-09, which has turned farming into an uneconomical business, Pakistan Agri forum s
Published 12 Sep, 2008 12:00am
TCP union greets Zardari

TCP union greets Zardari

The general body meeting of Collective Bargaining Agent of Trading Corporation of Pakistan in a resolution greeted Asif Ali Zardari, on his election as "President" of Islamic Republic of Pakistan.
Published 12 Sep, 2008 12:00am
DHL signs accord with customs on clearance exports

DHL signs accord with customs on clearance exports

Sarfaraz Siddiqui, Managing Director, DHL, Express, has said that In-House Export Customs Processing (IHECP) would play a significant part in enhancing exports. Pakistan Customs and DHL have signed MoU for in-house export customs clearance at Karachi for
Published 12 Sep, 2008 12:00am
Further decline in gold prices

Further decline in gold prices

Gold prices declined further by Rs 700 per tola and Rs 603 per 10 grams in the local market on Thursday, traders said. Gold was traded at Rs 22,000 per tola, which was previously available at Rs 22,700. Gold per 10 grams was quoted at Rs 18,857 per 10 gra
Published 12 Sep, 2008 12:00am
Inquiry ordered

Inquiry ordered

Sindh Minister for Livestock Abdul Haq Bhurt has directed the concerned officials of his department to initiate inquiry to verify the number of animals which the department has procured since 2003. The minister has asked for details of the number of anima
Published 12 Sep, 2008 12:00am
Islamic financial assets to cross $1 trillion by 2010: Morgan Stanley

Islamic financial assets to cross $1 trillion by 2010: Morgan Stanley

The Islamic financial assets are expected to cross $1 trillion by 2010, as per the recent research report published by Morgan Stanley. According to Islamic Capital, Pakistan is one of the key growth markets for Islamic banking, as it is the second largest
Published 12 Sep, 2008 12:00am
MQM is not anti-Pushtoons: Altaf

MQM is not anti-Pushtoons: Altaf

Condemning the ongoing sectarian violence across the country, Muttahida Qaumi Movement (MQM) Chief Altaf Hussain said on Thursday that his party was not the enemy of Pushtoons. This he stated in his simultaneous address to general workers' meeting of his
Published 12 Sep, 2008 12:00am
OGDCL financial advisor

OGDCL financial advisor

Oil and Gas Development Company Limited (OGDC) will appoint a financial advisor for shares buy-back arrangements. This was decided by the Board of Directors of OGDC at its meeting held on Thursday. OGDC is the second public sector company after NBP, to bu
Published 12 Sep, 2008 12:00am
PTA opposes two weekly holidays

PTA opposes two weekly holidays

Chairman, Pakistan Tanners Association (PTA), S.M. Naseem has vehemently criticised the government move to observe two weekly holidays merely to conserve energy, which objective even if achieved, will hurt industry badly. Production will be reduced and it
Published 12 Sep, 2008 12:00am
Brazil, Argentina both draw in World Cup qualifiers

Brazil, Argentina both draw in World Cup qualifiers

South American giants Argentina and Brazil both failed to beat lowly-ranked opponents in South American zone World Cup qualifiers on Wednesday. The Argentinians looked set for a first win in five qualifying games after Esteban Cambiasso had put them 1-0 u
Published 12 Sep, 2008 12:00am
U-17 football championship from September 18

U-17 football championship from September 18

Punjab Youth U-17 Football Championship will be played here at Punjab Stadium from September 18 to 22. Gujranwala District Football Association is holding trials for players belonging to Gujranwala on Friday at Mini Sports Complex, Gujranwala.
Published 12 Sep, 2008 12:00am
PFF approves PEL request for change of venue

PFF approves PEL request for change of venue

Pakistan Football Federation (PFF) have approved Lahore's Pak Elektron (PEL) request of change-of-venue of two matches in Pakistan Premier Soccer League 2008 after Eidul Fitr. Upto 14 teams are showing their ability in the 182-match event with all the tea
Published 12 Sep, 2008 12:00am
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