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Sep 23, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-10-07
Australian dollar hammered on global gloom

Australian dollar hammered on global gloom

The Australian dollar was slammed lower on Monday as fears for the health of the global economy slugged commodity prices and fuelled expectations local interest rates will have to be chopped to support growth at home.
Published 07 Oct, 2008 12:00am
Iran sends nuclear protest to Solana

Iran sends nuclear protest to Solana

Iran's nuclear negotiator Said Jalili sent a protest to EU foreign policy chief Javier Solana on Monday over the West's attitude to his country's atomic programme, a senior Iranian official said.
Published 07 Oct, 2008 12:00am
AIDS pioneers, cancer scientists win Nobel prize

AIDS pioneers, cancer scientists win Nobel prize

Two French scientists who discovered the AIDS virus and a German who bucked conventional wisdom to find a cause of cervical cancer were awarded the 2008 Nobel prize for medicine on Monday.
Published 07 Oct, 2008 12:00am
US to allies: fight in Afghanistan or write cheque

US to allies: fight in Afghanistan or write cheque

The United States has asked Japan and Nato allies who have refused to send troops to Afghanistan to pay the estimated $17 billion needed to build up the Afghan army, according to US defence officials.
Published 07 Oct, 2008 12:00am
Yemen dismantles Israel-linked 'terrorist' cell

Yemen dismantles Israel-linked 'terrorist' cell

Yemeni President Ali Abdullah Saleh announced on Monday the dismantling of a "terrorist cell" which he said was linked to Israeli intelligence services. "A terrorist cell was arrested five days ago and will be referred to the judicial authorities for its
Published 07 Oct, 2008 12:00am
Afghan insurgent leader protected by Iran: Spanish radio

Afghan insurgent leader protected by Iran: Spanish radio

A confidential military report made public on Monday charges Iran offered protection to an Afghan insurgent leader who claimed responsibility for an August ambush that killed 10 French soldiers.
Published 07 Oct, 2008 12:00am
Brazilian president's allies win

Brazilian president's allies win

Allies of President Luiz Inacio Lula da Silva swept most of Brazil's cities in weekend local elections, official results released Monday showed. But the mayorships for the biggest metropolises will be decided in a run-off round to be held October 26.
Published 07 Oct, 2008 12:00am
White House contenders go nuclear as debate looms

White House contenders go nuclear as debate looms

On the eve of the second presidential debate, Democrat Barack Obama Monday challenged Republican John McCain's integrity as their campaign mud-slinging plumbed new depths. Obama, responding to his portrayal by McCain's campaign as a crony of "terrorists,"
Published 07 Oct, 2008 12:00am
Central Asia quake kills 70, razes village

Central Asia quake kills 70, razes village

A powerful earthquake killed at least 70 people in Kyrgyzstan and levelled a village in the remote mountains of the Central Asian state, the emergencies ministry said on Monday.
Published 07 Oct, 2008 12:00am
30 dead in Tibet quake

30 dead in Tibet quake

At least 30 people were killed in the strong earthquake that struck China's Himalayan region of Tibet on Monday, state media reported, citing local government sources. The earthquake struck at 4:30 pm (0830 GMT) in a sparsely populated area about 84 kilom
Published 07 Oct, 2008 12:00am
'Angolagate' trial opens in France

'Angolagate' trial opens in France

The son of late president Francois Mitterrand and other members of the French elite went on trial Monday for illegal arms sales to Angola in the 1990s. But a lawyer representing the Luanda government said he would ask the court to throw out the case by in
Published 07 Oct, 2008 12:00am
Yuan tumbles against dollar in NDF market

Yuan tumbles against dollar in NDF market

Spot yuan closed slightly higher against the dollar on Monday as the central bank signalled it did not want steep depreciation but the Chinese currency tumbled in the offshore forwards market as concern mounted over the health of China's economy and asset
Published 07 Oct, 2008 12:00am
Swiss franc hits lows versus yen, up versus euro

Swiss franc hits lows versus yen, up versus euro

The Swiss franc tumbled to its lowest level in more than 2-years against the yen but rose against the euro as investors looked at the Japanese currency for stability amid concern about a deepening credit crisis.
Published 07 Oct, 2008 12:00am
Won, rupiah at fore of Asian currencies weakness

Won, rupiah at fore of Asian currencies weakness

The South Korean won and Indonesian rupiah led a sharp decline in Asian currencies on Monday, driven by tumbling stock markets, an acute shortage of dollars and broader growth concerns. Markets in parts of Asia were closed on several days last week and th
Published 07 Oct, 2008 12:00am
Umra flights fiasco

Umra flights fiasco

Over 2,000 passengers had been suffering at airports like Karachi, Lahore and Islamabad, desperately waiting for their baggage, that should have accompanied them when they returned after performing Umra. My old father was one such sufferer of gross mishan
Published 07 Oct, 2008 12:00am
Euro sinks, yen soars as global bank fears deepen

Euro sinks, yen soars as global bank fears deepen

The euro slid to a 2-1/2-year low against the yen on Monday as investors shifted their focus to banking problems in Europe after leaders of Europe's four biggest economies decided against a co-ordinated bank bailout.
Published 07 Oct, 2008 12:00am
Chinese stocks sink 5.2 percent

Chinese stocks sink 5.2 percent

Chinese stock market, resuming trade after a weeklong national holiday, fell sharply on Monday in response to sliding share prices overseas and fears of a global economic slowdown.
Published 07 Oct, 2008 12:00am
Taiwan dollar hits eight-month low as stocks slump

Taiwan dollar hits eight-month low as stocks slump

The Taiwan dollar dropped on Monday to its lowest close in more than eight months, unsettled by a stock market sell off and losses in emerging markets. The Taiwan dollar closed at T$32.343 to the US dollar, its weakest finish since January 28 and down 0.4
Published 07 Oct, 2008 12:00am
Bangladesh central bank drums up support for farm loans

Bangladesh central bank drums up support for farm loans

Bangladesh's central bank has ordered banks to take part in an agricultural loans programme aimed at ensuring food security following sharp rises in global prices, officials said on Monday. Commercial banks have to set a target for the amount of money the
Published 07 Oct, 2008 12:00am
US still sees chance for Doha breakthrough in 2008

US still sees chance for Doha breakthrough in 2008

The Bush administration still sees a chance for a breakthrough in world trade talks this year, a top US trade official said on Monday, adding that would give troubled world markets a much-needed boost. "I do believe in the balance of this year, there is a
Published 07 Oct, 2008 12:00am
China central bank says stable currency is a priority

China central bank says stable currency is a priority

The People's Bank of China views a stable currency and job creation as priorities in its economic stewardship, central bank governor Zhou Xiaochuan said in comments published on Monday. In a statement on the PBOC website, Zhou outlined what the central ba
Published 07 Oct, 2008 12:00am
South Korea says to help banks secure FX liquidity

South Korea says to help banks secure FX liquidity

South Korean banks have troubles in securing enough foreign-currency liquidity, and the government will use the official foreign reserves in helping banks secure liquidity, the country's finance minister said on Monday. Minister Kang Man-soo also said in
Published 07 Oct, 2008 12:00am
EBay to cut 10 percent of jobs, sees revenue at low end

EBay to cut 10 percent of jobs, sees revenue at low end

EBay Inc plans to cut its work force 10 percent and sees third-quarter revenue hitting the low end of its forecast, though profit will exceed expectations, the online auction Web site said on Monday.
Published 07 Oct, 2008 12:00am
Turkey needs to decide on IMF deal - c.bank

Turkey needs to decide on IMF deal - c.bank

Turkey needs to decide whether it will sign a new deal with the International Monetary Fund and remove a key uncertainty, Central Bank Governor Durmus Yilmaz told NTV broadcaster on Monday. Yilmaz said Turkey did not need IMF credit but did require some s
Published 07 Oct, 2008 12:00am
Romania banks safe from crisis, bank monitoring

Romania banks safe from crisis, bank monitoring

Romania's banking system is safe from the world crisis and has excess liquidity but the central bank was committed to inject funds if needed to ensure financial stability, governor Mugur Isarescu said on Monday.
Published 07 Oct, 2008 12:00am
US firms granted tax break in Zambia economic zone

US firms granted tax break in Zambia economic zone

Zambia has extended tax waivers to US firms seeking to invest in an economic zone initially created for Chinese companies that plan to invest $900 million in manufacturing of copper products, a minister said on Monday.
Published 07 Oct, 2008 12:00am
Business group hopes Russia can salvage WTO bid

Business group hopes Russia can salvage WTO bid

Signs that Russia is honouring a cease-fire agreement could help get its long-time bid to join the World Trade Organisation back on track, a business group promoting US-Russian business ties says. Despite tensions following the recent 5-day war in Georgia
Published 07 Oct, 2008 12:00am
Taiwan protects customers of local AIG units

Taiwan protects customers of local AIG units

Taiwan's financial regulator said it is closely monitoring and overseeing the Taiwan-based units of AIG after the troubled US insurer said it would sell non-core assets to improve its balance sheet.
Published 07 Oct, 2008 12:00am
Congo Republic to have special schools for pygmies

Congo Republic to have special schools for pygmies

Children of Congo Republic's pygmies will be able to attend special schools set up by retired French teachers in a plan to help fight discrimination against the forest dwellers, the UN children's agency (UNICEF) said.
Published 07 Oct, 2008 12:00am
IFS rating of PGICL upgraded

IFS rating of PGICL upgraded

Credit Rating Company Limited (JCR-VIS) has upgraded the Insurer Financial Strength (IFS) rating of The Pakistan General Insurance Company Limited (PGICL) from 'BB+' (double B Plus) to 'BBB' (Triple B). Outlook on the rating is 'stable', says a press rele
Published 07 Oct, 2008 12:00am
IFS rating of PGICL upgraded

IFS rating of PGICL upgraded

Credit Rating Company Limited (JCR-VIS) has upgraded the Insurer Financial Strength (IFS) rating of The Pakistan General Insurance Company Limited (PGICL) from 'BB+' (double B Plus) to 'BBB' (Triple B). Outlook on the rating is 'stable', says a press rele
Published 07 Oct, 2008 12:00am
University of Sindh announces dates for pre-entry tests

University of Sindh announces dates for pre-entry tests

The pre-entry test for admission to all Masters degree programmes in the University of Sindh will be conducted on October 19 and pre-entry test for admission to Sindh University Laar College Badin will be conducted on October 23. Pre entry test for admiss
Published 07 Oct, 2008 12:00am
Pakistan wants greater market access to EU: Prime Minister

Pakistan wants greater market access to EU: Prime Minister

Welcoming the French statements that every country has the right to use nuclear energy for peaceful civilian purposes, Prime Minister Syed Yousuf Raza Gilani has expressed hope that France will help Pakistan to use nuclear technology to meet its energy re
Published 07 Oct, 2008 12:00am
Replacement of Garment City board directors resented

Replacement of Garment City board directors resented

The removal of existing directors of Garment City from the Board and induction of new directors in their place, as per recent decision of Garment ministry, without any intimation has been resented by Pakistan Apparel Forum (PAF).
Published 07 Oct, 2008 12:00am
Interim dividend for JSIF, JSAIF for first quarter declared

Interim dividend for JSIF, JSAIF for first quarter declared

The board of directors of JS Investments Limited (JSIL), the management company of JS Income Fund (JSIF) and JS Aggressive Income Fund (JSAIF), in a meeting held here on Monday approved interim dividend for JSIF and JSAIF for the first quarter of 2009 fin
Published 07 Oct, 2008 12:00am
Interim dividend for JSIF, JSAIF for first quarter declared

Interim dividend for JSIF, JSAIF for first quarter declared

The board of directors of JS Investments Limited (JSIL), the management company of JS Income Fund (JSIF) and JS Aggressive Income Fund (JSAIF), in a meeting held here on Monday approved interim dividend for JSIF and JSAIF for the first quarter of 2009 fin
Published 07 Oct, 2008 12:00am
Fall in oil, gas reserves

Fall in oil, gas reserves

The country's oil and gas reserves fell by 7.6 percent and 8 percent on year-on-year basis respectively in FY08 as the original recoverable reserves of some key fields were slightly revised down by their respective operators.
Published 07 Oct, 2008 12:00am
Head, spinal injury on the rise in developing countries

Head, spinal injury on the rise in developing countries

In Pakistan like all other developing countries the incidence of head and spinal injury is on the rise which could be curtailed if all hospitals are well-equipped to offer neurosurgical/head injury services. This was stated in a workshop on 'Head Injury'
Published 07 Oct, 2008 12:00am
Fire in garment factory

Fire in garment factory

A fire has engulfed a garment factory Gul Ahmed Textile in Landhi industrial area on Monday afternoon. An official of Fire Department said that four fire tenders have been dispatched to the site and more were being sent to control the blaze in the factory
Published 07 Oct, 2008 12:00am
Zambia enacts uranium mining law

Zambia enacts uranium mining law

Zambia has enacted a law for mining, storage and export of uranium which bars the diversion of the mineral for use in making nuclear weapons or devices, mines minister Kalombo Mwansa said on Monday. Mwansa said he had signed a law to pave the way for uran
Published 07 Oct, 2008 12:00am
Amano makes case to succeed IAEA's ElBaradei

Amano makes case to succeed IAEA's ElBaradei

Japanese diplomat Yukiya Amano on Monday launched the politically charged race to replace Mohamed ElBaradei as head of the UN nuclear watchdog by saying it needed to reinvigorate its fight against proliferators.
Published 07 Oct, 2008 12:00am
Rs 325 rise in wheat support price termed windfall for hoarders

Rs 325 rise in wheat support price termed windfall for hoarders

The extraordinary increase of Rs 325 in support price of wheat is a lucrative incentive for the hoarders to maximise their profit, sources told Business Recorder here on Monday. They said that after the announcement of support price of wheat at Rs
Published 07 Oct, 2008 12:00am
Sri Lanka suicide bomb kills 26

Sri Lanka suicide bomb kills 26

A Sri Lankan suicide bomber killed 26 people at an ancient tourist town on Monday, including a popular retired army general who was the main opposition party's provincial leader. The blast, immediately blamed by the government on the rebel Tamil Tigers, a
Published 07 Oct, 2008 12:00am
Governance improving in most of Africa: survey

Governance improving in most of Africa: survey

Governance has improved in almost two-thirds of the countries in sub-Saharan Africa, according to an index published on Monday. The 2008 Ibrahim Index of African Governance said 31 of 48 sub-Saharan nations recorded higher scores than in last year's surve
Published 07 Oct, 2008 12:00am
UN appeals to Taliban to let winter food aid through

UN appeals to Taliban to let winter food aid through

The UN special representative in Afghanistan, Kai Eide, appealed Monday to leaders of a Taliban-led insurgency to allow aid workers to distribute food aid ahead of winter. Eide said the militants' agreement to allow medical teams to reach children in a po
Published 07 Oct, 2008 12:00am
Two dozen dead in Afghan unrest

Two dozen dead in Afghan unrest

Attacks and clashes across troubled Afghanistan have left more than two dozen people dead, including a cook and his 12-year-old son allegedly shot dead by Taliban, authorities said Monday.
Published 07 Oct, 2008 12:00am
Russia demands Britain hand over fugitive oil boss

Russia demands Britain hand over fugitive oil boss

Russia has asked Britain to extradite a Russian oil boss wanted on tax evasion charges, prosecutors said in Moscow on Monday, creating the potential for a fresh diplomatic spat with London.
Published 07 Oct, 2008 12:00am
Nato chief seeks defence plan for allies near Russia

Nato chief seeks defence plan for allies near Russia

Nato's military commander wants to draw up plans to protect its newer members - many of them ex-Soviet states - after Russia's invasion of Georgia but faces resistance from nations worried about Moscow's response, US defence officials say.
Published 07 Oct, 2008 12:00am
New trial for former Black Panther rejected

New trial for former Black Panther rejected

The US Supreme Court Monday refused to hear arguments for a new trial for Mumia Abu-Jamal, a former Black Panther accused of killing a police officer, who has become an international symbol for the fight against capital punishment.
Published 07 Oct, 2008 12:00am
They need to talk

They need to talk

The top British commander in Afghanistan, Brigadier Mark Carleton-Smith, has acknowledged that his side is "not going to win this war," and that it is necessary to hold negotiations with the Taliban in order to end the war.
Published 07 Oct, 2008 12:00am
Wind energy: missed targets

Wind energy: missed targets

The National Energy Security Plan 2005-2030 has set target for the development of renewable energy, with focus on exploiting wind-power resources, to achieve, from practically non-existent share, to five percent share in national power generation mix by t
Published 07 Oct, 2008 12:00am
Will to war against PKK mounts in Turkey

Will to war against PKK mounts in Turkey

The 15 Turkish soldiers killed in Saturday's attack on an Iraq border post were borne to their graves on Sunday by a crowd of thousands shouting angry slogans against the perpetrators - the outlawed Kurdish Workers Party, or PKK. The attack, which claimed
Published 07 Oct, 2008 12:00am
Prevention of bomb blasts

Prevention of bomb blasts

Instead of speaking of the security lapses, which led to the tragic blast, resulting in loss of over sixty innocent lives and a colossal damage to Marriott Hotel, Mr Rehman Malik, the Advisor to Prime Minister on Interior took full credit for saving the e
Published 07 Oct, 2008 12:00am
Industries of Punjab and NWFP to face gas load shedding

Industries of Punjab and NWFP to face gas load shedding

The Sui Northern Gas Pipelines Limited (SNGP) has warned the industrial consumers of Punjab and NWFP to get ready for gas load shedding during the peak days of winter. Already hit hard by increasing power load shedding because of the widening gap in deman
Published 07 Oct, 2008 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (October 06, 2008).

Published 07 Oct, 2008 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (October 06, 2008).

Published 07 Oct, 2008 12:00am
FBR collects Rs 253.33 billion revenue during first quarter

FBR collects Rs 253.33 billion revenue during first quarter

The Federal Board of Revenue (FBR) has collected Rs 253.33 billion revenue during the first quarter (July-September) of 2008-09 as against the target of Rs 250.80 billion, reflecting an increase of one percent.
Published 07 Oct, 2008 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (October 06, 2008).

Published 07 Oct, 2008 12:00am
FBR collects Rs 253.33 billion revenue during first quarter

FBR collects Rs 253.33 billion revenue during first quarter

The Federal Board of Revenue (FBR) has collected Rs 253.33 billion revenue during the first quarter (July-September) of 2008-09 as against the target of Rs 250.80 billion, reflecting an increase of one percent.
Published 07 Oct, 2008 12:00am
FBR collects Rs 253.33 billion revenue during first quarter

FBR collects Rs 253.33 billion revenue during first quarter

The Federal Board of Revenue (FBR) has collected Rs 253.33 billion revenue during the first quarter (July-September) of 2008-09 as against the target of Rs 250.80 billion, reflecting an increase of one percent.
Published 07 Oct, 2008 12:00am
Overnight rate drops to 27 percent from 40 plus percent

Overnight rate drops to 27 percent from 40 plus percent

The interbank overnight rate dropped to 27 percent from 40 plus percent on injection of Rs 53 billion by the State Bank of Pakistan and the release of Rs 25 billion to oil marketing companies on Monday.
Published 07 Oct, 2008 12:00am
Overnight rate drops to 27 percent from 40 plus percent

Overnight rate drops to 27 percent from 40 plus percent

The interbank overnight rate dropped to 27 percent from 40 plus percent on injection of Rs 53 billion by the State Bank of Pakistan and the release of Rs 25 billion to oil marketing companies on Monday.
Published 07 Oct, 2008 12:00am
Overnight rate drops to 27 percent from 40 plus percent

Overnight rate drops to 27 percent from 40 plus percent

The interbank overnight rate dropped to 27 percent from 40 plus percent on injection of Rs 53 billion by the State Bank of Pakistan and the release of Rs 25 billion to oil marketing companies on Monday.
Published 07 Oct, 2008 12:00am
KSE index posts marginal loss

KSE index posts marginal loss

The Karachi share market witnessed another dull session on Monday and the KSE-100 index closed at 9,178.97 points, down by 0.71 points as the investors were not ready to take fresh positions before any decision regarding removal of floor.
Published 07 Oct, 2008 12:00am
KSE index posts marginal loss

KSE index posts marginal loss

The Karachi share market witnessed another dull session on Monday and the KSE-100 index closed at 9,178.97 points, down by 0.71 points as the investors were not ready to take fresh positions before any decision regarding removal of floor.
Published 07 Oct, 2008 12:00am
KSE index posts marginal loss

KSE index posts marginal loss

The Karachi share market witnessed another dull session on Monday and the KSE-100 index closed at 9,178.97 points, down by 0.71 points as the investors were not ready to take fresh positions before any decision regarding removal of floor.
Published 07 Oct, 2008 12:00am
BRIndex30 stays unchanged

BRIndex30 stays unchanged

On Monday, BRIndex30 remained unchanged throughout the entire trading time. It opened at 8,995.65 and closed at 8,995.65. The volume was 97,400 as against 1,560,600 recorded by the KSE-All Share and 176,000 recorded by the KSE-100 Indices.
Published 07 Oct, 2008 12:00am
BRIndex30 stays unchanged

BRIndex30 stays unchanged

On Monday, BRIndex30 remained unchanged throughout the entire trading time. It opened at 8,995.65 and closed at 8,995.65. The volume was 97,400 as against 1,560,600 recorded by the KSE-All Share and 176,000 recorded by the KSE-100 Indices.
Published 07 Oct, 2008 12:00am
'Outlook negative': S&P lowers foreign currency rating

'Outlook negative': S&P lowers foreign currency rating

Standard & Poor's Ratings Services said on Monday its lowered its long-term foreign currency sovereign credit rating on the Islamic Republic of Pakistan to 'CCC+' from 'B' and its long-term local currency rating to 'B-' from 'BB-'. At the same time, we lo
Published 07 Oct, 2008 12:00am
'Outlook negative': S&P lowers foreign currency rating

'Outlook negative': S&P lowers foreign currency rating

Standard & Poor's Ratings Services said on Monday its lowered its long-term foreign currency sovereign credit rating on the Islamic Republic of Pakistan to 'CCC+' from 'B' and its long-term local currency rating to 'B-' from 'BB-'. At the same time, we lo
Published 07 Oct, 2008 12:00am
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