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Apr 27, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-10-30
Australia's St George second-half cash profit up 27 percent

Australia's St George second-half cash profit up 27 percent

St. George Bank, Australia's fifth-largest bank, reported a 26.7 percent rise in second-half cash profit, beating analysts forecasts, after it grew revenue and business volume. The bank, reporting its last result before an expected take-over by Westpac Ba
Published 30 Oct, 2008 12:00am
Australia's St George second-half cash profit up 27 percent

Australia's St George second-half cash profit up 27 percent

St. George Bank, Australia's fifth-largest bank, reported a 26.7 percent rise in second-half cash profit, beating analysts forecasts, after it grew revenue and business volume. The bank, reporting its last result before an expected take-over by Westpac Ba
Published 30 Oct, 2008 12:00am
Top Indian policymakers brainstorm on economy

Top Indian policymakers brainstorm on economy

Top Indian policymakers including the finance minister and the central bank governor met on Wednesday and discussed several issues including New Delhi's position at the forthcoming G20 meeting, officials said. Leaders of G20 nations are expected to meet a
Published 30 Oct, 2008 12:00am
Sovereign guarantee for LNG import issued to SSGC

Sovereign guarantee for LNG import issued to SSGC

The Ministry of Petroleum and Natural Resources (MP&NR) has issued sovereign guarantee for liquefied natural gas (LNG) import, assuring all potential players that the Letter of Exclusivity (LoE) right, to be granted to Sui Southern Gas Company's (SSGC) Pa
Published 30 Oct, 2008 12:00am
Kraft profit slightly ahead of Wall Street view

Kraft profit slightly ahead of Wall Street view

Kraft Foods Inc posted slightly better-than-expected quarterly profit on Wednesday, helped by price increases and new products that boosted sales. Strength in developing markets like Eastern Europe and Latin America also fuelled results, while the acquisi
Published 30 Oct, 2008 12:00am
Sovereign guarantee for LNG import issued to SSGC

Sovereign guarantee for LNG import issued to SSGC

The Ministry of Petroleum and Natural Resources (MP&NR) has issued sovereign guarantee for liquefied natural gas (LNG) import, assuring all potential players that the Letter of Exclusivity (LoE) right, to be granted to Sui Southern Gas Company's (SSGC) Pa
Published 30 Oct, 2008 12:00am
Kraft profit slightly ahead of Wall Street view

Kraft profit slightly ahead of Wall Street view

Kraft Foods Inc posted slightly better-than-expected quarterly profit on Wednesday, helped by price increases and new products that boosted sales. Strength in developing markets like Eastern Europe and Latin America also fuelled results, while the acquisi
Published 30 Oct, 2008 12:00am
Sovereign guarantee for LNG import issued to SSGC

Sovereign guarantee for LNG import issued to SSGC

The Ministry of Petroleum and Natural Resources (MP&NR) has issued sovereign guarantee for liquefied natural gas (LNG) import, assuring all potential players that the Letter of Exclusivity (LoE) right, to be granted to Sui Southern Gas Company''s (SSGC) P
Published 30 Oct, 2008 12:00am
Lazard posts loss after charge

Lazard posts loss after charge

Investment bank Lazard Ltd reported a third-quarter loss on Wednesday, reflecting the costs of taking full ownership of its asset management unit and a steep decline in merger advisory fees amid the worst market conditions in decades.
Published 30 Oct, 2008 12:00am
Another listless day

Another listless day

The Karachi share market saw dull trading on Wednesday due to investors, concerns over delay in arrangement of funds to bail out the capital market from the present turmoil and rising economic slowdown in the country. The KSE-100 index remained unchanged
Published 30 Oct, 2008 12:00am
Lazard posts loss after charge

Lazard posts loss after charge

Investment bank Lazard Ltd reported a third-quarter loss on Wednesday, reflecting the costs of taking full ownership of its asset management unit and a steep decline in merger advisory fees amid the worst market conditions in decades.
Published 30 Oct, 2008 12:00am
Another listless day

Another listless day

The Karachi share market saw dull trading on Wednesday due to investors, concerns over delay in arrangement of funds to bail out the capital market from the present turmoil and rising economic slowdown in the country. The KSE-100 index remained unchanged
Published 30 Oct, 2008 12:00am
Toshiba, Fujitsu's second quarter drop on weak chips

Toshiba, Fujitsu's second quarter drop on weak chips

Japan's Toshiba Corp posted a 99 percent plunge in quarterly profit on Wednesday on losses on its chip business, but it kept its annual earnings forecast above expectations. Sluggish chip operations also dragged down Fujitsu Ltd, as well as weak PC sales
Published 30 Oct, 2008 12:00am
Another listless day

Another listless day

The Karachi share market saw dull trading on Wednesday due to investors, concerns over delay in arrangement of funds to bail out the capital market from the present turmoil and rising economic slowdown in the country. The KSE-100 index remained unchanged
Published 30 Oct, 2008 12:00am
Toshiba, Fujitsu's second quarter drop on weak chips

Toshiba, Fujitsu's second quarter drop on weak chips

Japan's Toshiba Corp posted a 99 percent plunge in quarterly profit on Wednesday on losses on its chip business, but it kept its annual earnings forecast above expectations. Sluggish chip operations also dragged down Fujitsu Ltd, as well as weak PC sales
Published 30 Oct, 2008 12:00am
BRIndex30 stays unchanged

BRIndex30 stays unchanged

On Wednesday, BRIndex30 remained unchanged throughout the trading time opening and closing at 8,995.65. Volume was 65,100 as against 178,440 recorded by KSE-All Share and 68,640 recorded by KSE-100 Indices. BR Commercial Banks Index closed at 3,074.17 wit
Published 30 Oct, 2008 12:00am
General Motors could have case for bail out: experts

General Motors could have case for bail out: experts

General Motors Corp is lobbying for a $10 billion government bailout to help it merge with Chrysler LLC, and could make a strong case for crucial parts of the package, experts said on Tuesday. Chief Executive Rick Wagoner has personally discussed assistan
Published 30 Oct, 2008 12:00am
BRIndex30 stays unchanged

BRIndex30 stays unchanged

On Wednesday, BRIndex30 remained unchanged throughout the trading time opening and closing at 8,995.65. Volume was 65,100 as against 178,440 recorded by KSE-All Share and 68,640 recorded by KSE-100 Indices. BR Commercial Banks Index closed at 3,074.17 wit
Published 30 Oct, 2008 12:00am
US Senator Reed eyes merger of CFTC, SEC

US Senator Reed eyes merger of CFTC, SEC

Senator Jack Reed, chairman of the Senate securities, insurance and investment subcommittee, said on Tuesday that merging securities and futures regulators must be considered again as Congress starts to reform US regulatory systems amid the worst economic
Published 30 Oct, 2008 12:00am
'Strong partnership between US, Pakistan to continue'

'Strong partnership between US, Pakistan to continue'

Public Affairs Officer of the US Consulate Lahore Traci Mell, has highlighted the procedure of the US presidential elections and hoped that the strong partnership between the USA and Pakistan would continue in future as well.
Published 30 Oct, 2008 12:00am
Japan poised to join global rate response to crisis

Japan poised to join global rate response to crisis

The Bank of Japan looks poised to join a wave of global interest rate cuts to contain the financial crisis after news it was considering an easing this week unleashed market speculation that may be too strong to ignore. The first Japanese rate cut in seve
Published 30 Oct, 2008 12:00am
India offers aid for quake victims

India offers aid for quake victims

India on Wednesday expressed its sorrow at the death of 160 people in an earthquake in Pakistan and offered aid to the government in Islamabad, officials here said. Indian Prime Minister Manmohan Singh in a message to his Pakistani counterpart Yousuf Raza
Published 30 Oct, 2008 12:00am
BBVA nine-month profit up, loan quality slips

BBVA nine-month profit up, loan quality slips

Spain's second-largest bank BBVA posted a 9.1 percent rise in recurring net profit in the nine months to September on Wednesday, beating forecasts, due to strong revenue growth and stable margins in Spain and Mexico.
Published 30 Oct, 2008 12:00am
EU ready to provide assistance

EU ready to provide assistance

The European Union said Wednesday it was ready to provide humanitarian help to Pakistan following an earthquake in Balochistan. "I was shocked to hear the news about the earthquake which struck Balochistan, killed several people and left thousands homeles
Published 30 Oct, 2008 12:00am
BBVA nine-month profit up, loan quality slips

BBVA nine-month profit up, loan quality slips

Spain's second-largest bank BBVA posted a 9.1 percent rise in recurring net profit in the nine months to September on Wednesday, beating forecasts, due to strong revenue growth and stable margins in Spain and Mexico.
Published 30 Oct, 2008 12:00am
Investors await 'floor' removal at LSE

Investors await 'floor' removal at LSE

The Lahore Stock Exchange on Wednesday witnessed another dull day where no company posted either gain or loss and all the 90 companies closed at their previous levels. The LSE-25 index also remained unchanged at Tuesday's level of 2825.36 points while tur
Published 30 Oct, 2008 12:00am
Trader detained over French bank losses

Trader detained over French bank losses

French police on Wednesday detained a trader from the Caisse d'Epargne bank for questioning over the loss of 750 million euros in derivatives trading amid this month's market turmoil, officials said. He was taken into custody as part of a preliminary inve
Published 30 Oct, 2008 12:00am
Investors await 'floor' removal at LSE

Investors await 'floor' removal at LSE

The Lahore Stock Exchange on Wednesday witnessed another dull day where no company posted either gain or loss and all the 90 companies closed at their previous levels. The LSE-25 index also remained unchanged at Tuesday's level of 2825.36 points while tur
Published 30 Oct, 2008 12:00am
Australia carbon plan no company killer

Australia carbon plan no company killer

Australia's plan to slash greenhouse gas emissions through carbon trade will not be the "company killer" feared by business and no major polluters will be forced to move offshore, the government said on Wednesday. Treasury department modelling of the impa
Published 30 Oct, 2008 12:00am
Sluggish trend persists on ISE

Sluggish trend persists on ISE

The ISE-10 Index failed to observe any change at the Islamabad Stock Exchange (ISE) where sluggish trend continued on Wednesday amid negative trend. ISE-10 Index closed at 2,003.17 without witnessing any change. The overall turnover amounted to 23,8947 sh
Published 30 Oct, 2008 12:00am
ECB set to slash rates 50 basis points

ECB set to slash rates 50 basis points

The European Central Bank is set to chop another half point off interest rates at its November meeting to help numb the pain from an economy that is very likely already in recession, a Reuters poll showed. All 81 economists in the poll, taken October 27-2
Published 30 Oct, 2008 12:00am
Sluggish trend persists on ISE

Sluggish trend persists on ISE

The ISE-10 Index failed to observe any change at the Islamabad Stock Exchange (ISE) where sluggish trend continued on Wednesday amid negative trend. ISE-10 Index closed at 2,003.17 without witnessing any change. The overall turnover amounted to 23,8947 sh
Published 30 Oct, 2008 12:00am
US and South Korea discussing trade, but not autos

US and South Korea discussing trade, but not autos

The United States and South Korea began two days of trade talks on Tuesday, but plan to steer clear of auto industry provisions blocking Washington's approval of a bilateral free trade agreement, a US official said. "The purpose of the meetings is not to
Published 30 Oct, 2008 12:00am
Pak-Turkey agree to root out terrorism

Pak-Turkey agree to root out terrorism

Pakistan and Turkey have agreed to take collective measures to root out human trafficking and illegal immigration from the roots. Both the sides have reached an agreement to this affect in a meeting held between Advisor to the Prime Minister on Interior,
Published 30 Oct, 2008 12:00am
IMF deal for Hungary eases nerves in Central Europe

IMF deal for Hungary eases nerves in Central Europe

A $25.1 billion bailout of Hungary by the IMF and European Union settled nerves in the bloc's ex-communist countries on Wednesday, though the regional fallout of the financial crisis looked to have some way to run. The larger-than-expected rescue, the big
Published 30 Oct, 2008 12:00am
Pak-Afghan jirga talks produce expected results

Pak-Afghan jirga talks produce expected results

Foreign Minister Makhdoom Shah Mehmood Qureshi, said that the Pak-Afghan jirga talks remained very successful as it is the continuation of the Pak-Afghan jirga held in Kabul 8 years ago. He said this while talking with media personnel men at local air por
Published 30 Oct, 2008 12:00am
Top Kazakh banks agree to partial nationalisation

Top Kazakh banks agree to partial nationalisation

Three of Kazakhstan's four largest banks have agreed to sell stakes to the government, which has set aside $5 billion in capital injections to combat the global credit crunch and build up the sector's reserves. Kazkommertsbank, the Central Asian state's s
Published 30 Oct, 2008 12:00am
Zardari compliments China for consolidating its global status

Zardari compliments China for consolidating its global status

President, Asif Ali Zardari has said that how far China has gone today is a compliment to China's founding fathers and to the nation that how hard they have worked, where they have taken the country and what place they today have in the world.
Published 30 Oct, 2008 12:00am
US durable goods orders unexpectedly rise

US durable goods orders unexpectedly rise

New orders for long-lasting manufactured goods rose unexpectedly in September, led by surging demand for aircraft and autos, but analysts said the underlying trend remained weak. Commerce Department data on Wednesday showed orders for durable goods - item
Published 30 Oct, 2008 12:00am
Gilani attends Turkish national day celebrations as chief guest

Gilani attends Turkish national day celebrations as chief guest

Prime Minister Syed Yousuf Raza Gilani attended the 85th national day celebrations of Turkey here Wednesday at the Ataturk Culture Centre along with Turkish President Abdullah Gul, Prime Minister Recep Tayyip Erdogan and other Turkish government figures.
Published 30 Oct, 2008 12:00am
Mortgage applications bounce from eight-year low

Mortgage applications bounce from eight-year low

Demand for US mortgage applications climbed last week from a nearly eight-year low, while borrowing costs dipped, a trade group said on Wednesday. The Mortgage Bankers Association's seasonally adjusted mortgage applications index, which includes both purc
Published 30 Oct, 2008 12:00am
Government employees threaten to launch 'fill the prisons movement'

Government employees threaten to launch 'fill the prisons movement'

All Pakistan Clerks Association (APCA) and All Pakistan Government Employees Federation (APGEF) have warned the government that they would launch a countrywide "fill the prisons movement" from February 7, 2009 if their demand of a 100 per cent raise in th
Published 30 Oct, 2008 12:00am
Mortgage applications bounce from eight-year low

Mortgage applications bounce from eight-year low

Demand for US mortgage applications climbed last week from a nearly eight-year low, while borrowing costs dipped, a trade group said on Wednesday. The Mortgage Bankers Association's seasonally adjusted mortgage applications index, which includes both purc
Published 30 Oct, 2008 12:00am
Australia's 'Jihad Jack' free as legal battle ends

Australia's 'Jihad Jack' free as legal battle ends

An Australian Muslim convert walked free Wednesday after a years-long legal battle when a judged sentenced him to jail for holding a falsified passport, but released him due to time already served. Joseph (Jack) Thomas was the first Australian to be convi
Published 30 Oct, 2008 12:00am
Kuwait backs deposits; Gulf central bankers optimistic

Kuwait backs deposits; Gulf central bankers optimistic

Kuwait passed a law to guarantee bank deposits on Wednesday even as Gulf central banks offered reassurances about the health of their banking systems, saying there was no need to provide more assistance to lenders. The government-sponsored bill came after
Published 30 Oct, 2008 12:00am
Qureshi seeks Kuwaiti credit for urea import

Qureshi seeks Kuwaiti credit for urea import

Foreign Minister Shah Mehmood Qureshi has underscored the need for providing export credit to Pakistan for import of urea, and invited Kuwaiti investors to increase the volume of their investment in Pakistan. He was talking Ambassador of Kuwait Aziz Rahee
Published 30 Oct, 2008 12:00am
LUKOIL says Russia could join Opec, trim output

LUKOIL says Russia could join Opec, trim output

A vice-president of Russian private oil major LUKOIL said on Wednesday that Russia could join Opec and that it could take part in production cuts to help prop up global prices. The comment by Leonid Fedun at a conference in Moscow came as a surprise after
Published 30 Oct, 2008 12:00am
Qureshi seeks Kuwaiti credit for urea import

Qureshi seeks Kuwaiti credit for urea import

Foreign Minister Shah Mehmood Qureshi has underscored the need for providing export credit to Pakistan for import of urea, and invited Kuwaiti investors to increase the volume of their investment in Pakistan. He was talking Ambassador of Kuwait Aziz Rahee
Published 30 Oct, 2008 12:00am
Norway cuts rates by 50 basis points, sees more ahead

Norway cuts rates by 50 basis points, sees more ahead

Norway's central bank cut its main interest rate by half a point to 4.75 percent on Wednesday and signalled more cuts ahead to shield the economy from the worst effects of the global crisis. It was the second cut this month in Norway, following the bank's
Published 30 Oct, 2008 12:00am
Qureshi seeks Kuwaiti credit for urea import

Qureshi seeks Kuwaiti credit for urea import

Foreign Minister Shah Mehmood Qureshi has underscored the need for providing export credit to Pakistan for import of urea, and invited Kuwaiti investors to increase the volume of their investment in Pakistan. He was talking Ambassador of Kuwait Aziz Rahee
Published 30 Oct, 2008 12:00am
FOB Gulf corn, soy weaken; China halts soy buying

FOB Gulf corn, soy weaken; China halts soy buying

Export premiums for US corn and soybeans FOB Gulf fell slightly on Tuesday, pressured by the advancing Midwest harvest and China's pull back from the market after last week's buying spree, traders said. Egypt's government seeking optional-origin wheat for
Published 30 Oct, 2008 12:00am
Temasek to further invest up to $147 million in NIB Bank

Temasek to further invest up to $147 million in NIB Bank

Singapore sovereign wealth fund Temasek Holdings has agreed to a further investment of up to 12 billion rupees ($147 million) in NIB Bank via a rights issue, NIB said. Temasek, already NIB's largest shareholder with 63.15 percent, will participate in the
Published 30 Oct, 2008 12:00am
TCP intervention news boosts lint prices, spot rate

TCP intervention news boosts lint prices, spot rate

News about the expected intervention by the Trading Corporation of Pakistan lifted the official spot rate on the cotton market on Wednesday, dealers said. The official spot rate was higher by Rs 50 to Rs 2,950, they said. Phutti prices in Sindh and Punjab
Published 30 Oct, 2008 12:00am
Temasek to further invest up to $147 million in NIB Bank

Temasek to further invest up to $147 million in NIB Bank

Singapore sovereign wealth fund Temasek Holdings has agreed to a further investment of up to 12 billion rupees ($147 million) in NIB Bank via a rights issue, NIB said. Temasek, already NIB's largest shareholder with 63.15 percent, will participate in the
Published 30 Oct, 2008 12:00am
China not likely to subsidise sugar exports

China not likely to subsidise sugar exports

China is not likely to agree to subsidise exports of excess sugar as a way to support prices and help loss-making mills, but it will keeping buying some of the surplus for state reserves, industry officials said on Wednesday.
Published 30 Oct, 2008 12:00am
Temasek to further invest up to $147 million in NIB Bank

Temasek to further invest up to $147 million in NIB Bank

Singapore sovereign wealth fund Temasek Holdings has agreed to a further investment of up to 12 billion rupees ($147 million) in NIB Bank via a rights issue, NIB said. Temasek, already NIB''s largest shareholder with 63.15 percent, will participate in the
Published 30 Oct, 2008 12:00am
US wheat futures down

US wheat futures down

US wheat futures closed lower on Tuesday as profit-taking eroded early gains, while ample global wheat supplies and dull exports amid recent strength in the US dollar added pressure, traders said. Initial support from higher start in corn, soybeans, and c
Published 30 Oct, 2008 12:00am
Russia 2007-2008 sunoil exports fall 50 percent

Russia 2007-2008 sunoil exports fall 50 percent

Russia's sunoil exports in the 2007/08 crop year (October to September) fell by 50 percent to 327,400 tonnes mainly due to a drastic decline in output in 2007 to 6.9 million tonnes from 7.7 million tonnes a year ago. Imports of all the main vegetable oils
Published 30 Oct, 2008 12:00am
Dollar funding costs stable as Asia eyes rate cuts

Dollar funding costs stable as Asia eyes rate cuts

The cost of dollar funds was broadly unchanged in Asia on Tuesday, as market expectations of more rate cuts by key central banks around the world capped short term rates. But analysts said rates on borrowings for maturities exceeding one month were unlike
Published 30 Oct, 2008 12:00am
Indian sugar futures ease

Indian sugar futures ease

Indian sugar futures eased on Wednesday in anticipation of higher supplies as crushing in main producing regions begin next week. At 3:28 pm (0958 GMT), the November contract on the National Commodity and Derivatives Exchange was down 0.06 percent at 1,73
Published 30 Oct, 2008 12:00am
South Korean banks go to Federal Reserve for dollars

South Korean banks go to Federal Reserve for dollars

South Korean banks, viewed by investors as among the weakest in Asia, turned for the first time to the US Federal Reserve for dollars as they stepped up efforts to resolve a dollar funding crisis. The move comes as Asia's fourth-largest economy tries to k
Published 30 Oct, 2008 12:00am
Plastic mouldings down on Jodia Bazaar

Plastic mouldings down on Jodia Bazaar

The trading in plastic mouldings compounds closed down on Jodia Bazaar here on Wednesday. The following changes were noted.
Published 30 Oct, 2008 12:00am
Alleged senior Kashmiri commander killed

Alleged senior Kashmiri commander killed

Indian occupation troops on Wednesday shot dead a senior commander of the most powerful group fighting to join Kashmir with Pakistan, police said. Abdul Rasheed was killed during a five-hour gun battle with occupation soldiers and police in the southern d
Published 30 Oct, 2008 12:00am
Prices almost stay put on grain market

Prices almost stay put on grain market

Nominal business was seen on the grain market on Wednesday as most of the commodity items retained the overnight levels, dealers said. On the cereal side makai low type did not move any side at Rs 1825 and better quality was up by Rs 25 to Rs 1850, wheat
Published 30 Oct, 2008 12:00am
Export of textile garments declines by 21 percent

Export of textile garments declines by 21 percent

Unofficial reduction in facility of export refinance by the reluctant banks, rampant electricity load shedding and abolition of the research and development (R&D) support programme have pulled down the export of value-added textile garments by 21 percent
Published 30 Oct, 2008 12:00am
Canadian canola futures lower

Canadian canola futures lower

Canadian canola futures ended lower on Tuesday, after an early rally sparked by revisions to the US Agriculture Department October crop report, traders said. "We followed the beans up, we followed the beans down," a trader said. ICE canola futures ended $
Published 30 Oct, 2008 12:00am
Export of textile garments declines by 21 percent

Export of textile garments declines by 21 percent

Unofficial reduction in facility of export refinance by the reluctant banks, rampant electricity load shedding and abolition of the research and development (R&D) support programme have pulled down the export of value-added textile garments by 21 percent
Published 30 Oct, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 124,923 tonnes of cargo including 78,400 tonnes of import, 46,523 tonnes of export cargo and 4,229 loaded and empty containers (TEUs) during last 24 hours ending at 0700 hours on Wednesday.
Published 30 Oct, 2008 12:00am
Export of textile garments declines by 21 percent

Export of textile garments declines by 21 percent

Unofficial reduction in facility of export refinance by the reluctant banks, rampant electricity load shedding and abolition of the research and development (R&D) support programme have pulled down the export of value-added textile garments by 21 percent
Published 30 Oct, 2008 12:00am
Determined M&A hunters will prosper in 2009

Determined M&A hunters will prosper in 2009

The pace of mergers and acquisitions in Europe will slow next year, but there are still plenty of deals to be done, particularly in the struggling finance sector and recently liberalised energy sector. While M&A professionals expect most of the action in
Published 30 Oct, 2008 12:00am
New customs stations set up by MCC-Peshawar

New customs stations set up by MCC-Peshawar

Model Customs Collectorate (MCC), Peshawar, has set up new customs stations in Federally Administered Tribal Areas (Fata) and Provincially Administered Tribal Areas (Pata) to regulate imports and exports between Pakistan and Afghanistan.
Published 30 Oct, 2008 12:00am
Google to pay $125 million in online books settlement

Google to pay $125 million in online books settlement

Google Inc has reached a legal settlement with authors and major publishers that paves the way for readers to search through millions of copyrighted books online, browse passages and purchase copies. Under Tuesday's settlement, Google will pay $125 millio
Published 30 Oct, 2008 12:00am
Missile attacks: Pakistan lodges strong protest with US

Missile attacks: Pakistan lodges strong protest with US

The Foreign Ministry has summoned the United States Ambassador to Pakistan, and expressed its strong protest against the missile strikes by American drones in the country's tribal regions, Foreign Office said in a statement here on Wednesday.
Published 30 Oct, 2008 12:00am
Wall Street leaders - new, not more, regulation needed

Wall Street leaders - new, not more, regulation needed

Even as markets plunge amid a crisis of confidence, Wall Street officials argued on Tuesday that the world's financial institutions need a new and different kind of regulation, rather than more of it. As the securities industry's reputation sank to new lo
Published 30 Oct, 2008 12:00am
Missile attacks: Pakistan lodges strong protest with US

Missile attacks: Pakistan lodges strong protest with US

The Foreign Ministry has summoned the United States Ambassador to Pakistan, and expressed its strong protest against the missile strikes by American drones in the country's tribal regions, Foreign Office said in a statement here on Wednesday.
Published 30 Oct, 2008 12:00am
Emerging Europe scrambles to contain crisis threat

Emerging Europe scrambles to contain crisis threat

Hungary's government braced for a possible recession in 2009 and Poland's approved a timetable to adopt the euro on Tuesday as ex-communist Europe struggled to contain the spread of the financial crisis. Lawmakers in Kiev ignored a call from the IMF to qu
Published 30 Oct, 2008 12:00am
Minfal notifies Basmati rice procurement prices

Minfal notifies Basmati rice procurement prices

The Ministry of Food, Agriculture and Livestock (Minfal) has issued a notification for minimum indicative price of super basmati rice (paddy) per 40 kg at Rs 1,500, and basmati 385/2000 rice (paddy) per 40 kg at Rs 1,250. The decision was taken in an ECC
Published 30 Oct, 2008 12:00am
Mexico sees resuming pace of bond sales in 2009

Mexico sees resuming pace of bond sales in 2009

The Mexican government expects to be able to resume issuing more long-term debt by the end of the year as credit markets return to normal, a senior finance ministry official said on Tuesday. Mexico announced on Monday it was temporarily cutting long-term
Published 30 Oct, 2008 12:00am
Minfal notifies Basmati rice procurement prices

Minfal notifies Basmati rice procurement prices

The Ministry of Food, Agriculture and Livestock (Minfal) has issued a notification for minimum indicative price of super basmati rice (paddy) per 40 kg at Rs 1,500, and basmati 385/2000 rice (paddy) per 40 kg at Rs 1,250. The decision was taken in an ECC
Published 30 Oct, 2008 12:00am
Mexico sees resuming pace of bond sales in 2009

Mexico sees resuming pace of bond sales in 2009

The Mexican government expects to be able to resume issuing more long-term debt by the end of the year as credit markets return to normal, a senior finance ministry official said on Tuesday. Mexico announced on Monday it was temporarily cutting long-term
Published 30 Oct, 2008 12:00am
Minfal notifies Basmati rice procurement prices

Minfal notifies Basmati rice procurement prices

The Ministry of Food, Agriculture and Livestock (Minfal) has issued a notification for minimum indicative price of super basmati rice (paddy) per 40 kg at Rs 1,500, and basmati 385/2000 rice (paddy) per 40 kg at Rs 1,250. The decision was taken in an ECC
Published 30 Oct, 2008 12:00am
Nomura in red in second quarter, hit by trading losses

Nomura in red in second quarter, hit by trading losses

Nomura Holdings Inc, Japan's largest brokerage, posted its third consecutive quarterly net loss on Tuesday as financial market turmoil led to big trading losses and discouraged companies from issuing shares or making deals.
Published 30 Oct, 2008 12:00am
Statement soon on economic woes: government

Statement soon on economic woes: government

Pakistan is to make a statement by the end of the week about its dire financial situation, officials said Wednesday, amid reports that an application to the International Monetary Fund is imminent. "We will make a statement on this issue in a day or two,"
Published 30 Oct, 2008 12:00am
Nomura in red in second quarter, hit by trading losses

Nomura in red in second quarter, hit by trading losses

Nomura Holdings Inc, Japan's largest brokerage, posted its third consecutive quarterly net loss on Tuesday as financial market turmoil led to big trading losses and discouraged companies from issuing shares or making deals.
Published 30 Oct, 2008 12:00am
Statement soon on economic woes: government

Statement soon on economic woes: government

Pakistan is to make a statement by the end of the week about its dire financial situation, officials said Wednesday, amid reports that an application to the International Monetary Fund is imminent. "We will make a statement on this issue in a day or two,"
Published 30 Oct, 2008 12:00am
Kazakhstan offers to inject $5 billion into banks

Kazakhstan offers to inject $5 billion into banks

Kazakhstan offered to inject up to $5 billion into the former Soviet state's four largest banks on Tuesday to stave off potential loan losses during the global financial crisis. Kazakh banks have been hit hard by the global liquidity squeeze after years o
Published 30 Oct, 2008 12:00am
Statement soon on economic woes: government

Statement soon on economic woes: government

Pakistan is to make a statement by the end of the week about its dire financial situation, officials said Wednesday, amid reports that an application to the International Monetary Fund is imminent. "We will make a statement on this issue in a day or two,"
Published 30 Oct, 2008 12:00am
Staff at top Asian brokerage asked to cut pay to avoid job losses

Staff at top Asian brokerage asked to cut pay to avoid job losses

Hundreds of senior staff at one of Asia's top brokerages, CLSA, have been asked to take a pay cut of up to 25 percent in a bid to avoid redundancies, a spokeswoman said Tuesday. A total of 500 senior brokers, analysts and managers at the Asian brokerage u
Published 30 Oct, 2008 12:00am
Pakistan to cut Kuwait diesel term imports

Pakistan to cut Kuwait diesel term imports

Pakistan will cut term diesel imports from Kuwait to 200,000 tons for November to December supplies, down from an initial plan for 300,000 tons, an industry source familiar with the matter said on Wednesday. Besides a reduction in term imports, Pakistan S
Published 30 Oct, 2008 12:00am
With rate cut likely, analysts ponder how low Fed will go

With rate cut likely, analysts ponder how low Fed will go

How low will the Fed go? As the Federal Reserve was set to open a two-day meeting Tuesday, financial markets were banking on a half-point cut in the federal funds target to bring the rate to 1.0 percent, matching the lows of 2003 and 2004.
Published 30 Oct, 2008 12:00am
Pakistan to cut Kuwait diesel term imports

Pakistan to cut Kuwait diesel term imports

Pakistan will cut term diesel imports from Kuwait to 200,000 tons for November to December supplies, down from an initial plan for 300,000 tons, an industry source familiar with the matter said on Wednesday. Besides a reduction in term imports, Pakistan S
Published 30 Oct, 2008 12:00am
AirAsia to fly Indian route in December: chief executive

AirAsia to fly Indian route in December: chief executive

Malaysia-based AirAsia, the largest budget airline in Asia, will begin flights to India from December 1, its chief executive officer Tony Fernandes said Monday. He said it will begin flying into the southern city of Thiruchi before spreading to nine other
Published 30 Oct, 2008 12:00am
Pakistan to cut Kuwait diesel term imports

Pakistan to cut Kuwait diesel term imports

Pakistan will cut term diesel imports from Kuwait to 200,000 tons for November to December supplies, down from an initial plan for 300,000 tons, an industry source familiar with the matter said on Wednesday. Besides a reduction in term imports, Pakistan S
Published 30 Oct, 2008 12:00am
China steel demand strong despite credit crunch

China steel demand strong despite credit crunch

Demand for steel in China, the world's No 1 consumer of the industrial metal, will stay strong in the coming year despite the global financial crisis, the head of the International Iron and Steel Institute said.
Published 30 Oct, 2008 12:00am
Russia and China sign deal for first railway bridge

Russia and China sign deal for first railway bridge

Russia and China have signed a deal paving the way for construction of the first railway bridge between the two countries, creating a potential supply route for iron ore produced by Anglo-Russian miner Aricom.
Published 30 Oct, 2008 12:00am
Japan tries to talk down yen as economy sags

Japan tries to talk down yen as economy sags

Japan tried to push back the waves of the financial crisis on Tuesday, joining the United States and Europe in restricting investor bets on falling share prices and attempting to talk down a surging yen, an added worry for an economy already teetering on
Published 30 Oct, 2008 12:00am
Russia and China sign deal for first railway bridge

Russia and China sign deal for first railway bridge

Russia and China have signed a deal paving the way for construction of the first railway bridge between the two countries, creating a potential supply route for iron ore produced by Anglo-Russian miner Aricom.
Published 30 Oct, 2008 12:00am
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