News Archives for Print - 2008-11-06

Interest rates on old and incremental FCY deposits

Interest rates on old and incremental FCY deposits on Wednesday (November 05, 2008).

Published 06 Nov, 2008 12:00am

ISE index remains unchanged

ISE network index failed to observe any change at the Islamabad Stock Exchange (ISE) where bulls and bears had a close fight amid dull session. ISE-10 Index closed at 2,003.17 without observing any change by the end of trading session. The overall turnove

Published 06 Nov, 2008 12:00am

LIBOR calculating interest on US dollar

London Interbank Offer Rates on for calculating interest on special US dollar on Wednesday (November 05, 2008).

Published 06 Nov, 2008 12:00am

LSE index stays unchanged

The Lahore stock witnessed no change in the sentiments on Wednesday and the index stayed unchanged amid dull trading day because of lacking institutional and the investors' interest. The LSE-25 index closed at the day earlier level of 2825.36 while transa

Published 06 Nov, 2008 12:00am

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Wednesday (November 05, 2008).

Published 06 Nov, 2008 12:00am

LSE index stays unchanged

The Lahore stock witnessed no change in the sentiments on Wednesday and the index stayed unchanged amid dull trading day because of lacking institutional and the investors' interest. The LSE-25 index closed at the day earlier level of 2825.36 while transa

Published 06 Nov, 2008 12:00am

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Wednesday (November 05, 2008).

Published 06 Nov, 2008 12:00am

Package for textile sector approved by Cabinet

The Cabinet on Wednesday approved a package of Rs 1.2 billion for textile sector provide relief in interest rate for loans to spinning sector, and research and development (R&D) support to textile and clothing industry. Under the package, mark-up reimburs

Published 06 Nov, 2008 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (November 05, 2008).

Published 06 Nov, 2008 12:00am

Package for textile sector approved by Cabinet

The Cabinet on Wednesday approved a package of Rs 1.2 billion for textile sector provide relief in interest rate for loans to spinning sector, and research and development (R&D) support to textile and clothing industry. Under the package, mark-up reimburs

Published 06 Nov, 2008 12:00am

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm

Published 06 Nov, 2008 12:00am

Package for textile sector approved by Cabinet

The Cabinet on Wednesday approved a package of Rs 1.2 billion for textile sector provide relief in interest rate for loans to spinning sector, and research and development (R&D) support to textile and clothing industry. Under the package, mark-up reimburs

Published 06 Nov, 2008 12:00am

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d

Published 06 Nov, 2008 12:00am

BRIndex30 unchanged

On Wednesday, BRIndex30 opened at 8,995.65 and closed at 8,995.65 with a net positive change of 0.86 points and percentage change of 0.01. The volume was 2,000 as against 622,200 recorded by KSE-All Share and 54,400 recorded by KSE-100 Indices.

Published 06 Nov, 2008 12:00am

Karachi interbank rates

Karachi interbank rates on Wednesday (November 05, 2008).

Published 06 Nov, 2008 12:00am

BRIndex30 unchanged

On Wednesday, BRIndex30 opened at 8,995.65 and closed at 8,995.65 with a net positive change of 0.86 points and percentage change of 0.01. The volume was 2,000 as against 622,200 recorded by KSE-All Share and 54,400 recorded by KSE-100 Indices.

Published 06 Nov, 2008 12:00am

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.

Published 06 Nov, 2008 12:00am

A measly 31 shares traded

The KSE-100 index on Wednesday remained unchanged at 9,183.14 points as investors opted to remain away due to continuing uncertainty regarding removal of floor. Trading was seen in only 31 scrips, out of which eight closed in positive and five in negative

Published 06 Nov, 2008 12:00am

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.

Published 06 Nov, 2008 12:00am

A measly 31 shares traded

The KSE-100 index on Wednesday remained unchanged at 9,183.14 points as investors opted to remain away due to continuing uncertainty regarding removal of floor. Trading was seen in only 31 scrips, out of which eight closed in positive and five in negative

Published 06 Nov, 2008 12:00am

Aaj TV - Thursday's schedule

All timings are in PST (Pakistan Standard Time).

Published 06 Nov, 2008 12:00am

A measly 31 shares traded

The KSE-100 index on Wednesday remained unchanged at 9,183.14 points as investors opted to remain away due to continuing uncertainty regarding removal of floor. Trading was seen in only 31 scrips, out of which eight closed in positive and five in negative

Published 06 Nov, 2008 12:00am

Adamjee Insurance - exploring, innovating, differentiating

Adamjee Insurance is the pioneer in insurance business and leader of producing innovative methods of providing security. Over the last few years, Adamjee has taken leaps in evolving into the finest Insurance Company in Pakistan, by introducing some very u

Published 06 Nov, 2008 12:00am

South Asian nations agree to build grain reserve

Eight South Asian countries have agreed to create a 243,000-tonne strategic grain reserve to meet any sudden spurt in demand in the region, India''s farm minister said on Tuesday. India will contribute 153,000 tonnes of grains, Pakistan and Bangladesh wil

Published 06 Nov, 2008 12:00am

Best Practices Day

The BPD journey continues. As we watch yesteryears in the rear view mirror, it is heartening to acknowledge that the advent of BPD which had a humble beginning in 2002 has grown in depth and spread over the years to become one of the most sought after cor

Published 06 Nov, 2008 12:00am

South Asian nations agree to build grain reserve

Eight South Asian countries have agreed to create a 243,000-tonne strategic grain reserve to meet any sudden spurt in demand in the region, India's farm minister said on Tuesday. India will contribute 153,000 tonnes of grains, Pakistan and Bangladesh will

Published 06 Nov, 2008 12:00am

Message from Managing Director, Adamjee Insurance

Adamjee Insurance started its operations in 1960 as a general insurance company and has since then grown phenomenally. We are the first general insurance company in Pakistan to achieve ISO 9002 certification from the world's oldest and most reputed certif

Published 06 Nov, 2008 12:00am

South Asian nations agree to build grain reserve

Eight South Asian countries have agreed to create a 243,000-tonne strategic grain reserve to meet any sudden spurt in demand in the region, India's farm minister said on Tuesday. India will contribute 153,000 tonnes of grains, Pakistan and Bangladesh will

Published 06 Nov, 2008 12:00am

Message from Managing Director, English Biscuit Manufacturers (Pvt) Limited

A lot has happened both in Pakistan and in the world in the one year since the Best Practices Day was held last year. Unfortunately most of it has been negative. World Poverty, environmental degradation and civil strife have all increased.

Published 06 Nov, 2008 12:00am

US to provide $200 million wheat on deferred payment

The United States will provide wheat worth $200 million to Pakistan, on deferred payment of two years, under GSM-102, while the government has decided to provide $100 million to the Trading Corporation of Pakistan (TCP) for purchase of urea, Business R

Published 06 Nov, 2008 12:00am

Message from Director, Sidat Hyder Morshed Associates (Pvt) Limited

It is once again a matter of immense pleasure to host the Annual Best Practices Day event 2008. In a span of seven years BPD has emerged as a significant event for corporate Pakistan and provides a platform for participants to gain valuable insight into t
Published 06 Nov, 2008 12:00am

US to provide $200 million wheat on deferred payment

The United States will provide wheat worth $200 million to Pakistan, on deferred payment of two years, under GSM-102, while the government has decided to provide $100 million to the Trading Corporation of Pakistan (TCP) for purchase of urea, Business R
Published 06 Nov, 2008 12:00am

Message from Director, Sidat Hyder Morshed Associates (Pvt) Limited

On behalf of Sidat Hyder Morshed Associates (Pvt) Ltd, I would like to welcome all the sponsors, speakers, panellists and delegates who have come to attend the seventh annual Best Practices Day 2008. I am also happy to inform you all that in addition to h
Published 06 Nov, 2008 12:00am

US to provide $200 million wheat on deferred payment

The United States will provide wheat worth $200 million to Pakistan, on deferred payment of two years, under GSM-102, while the government has decided to provide $100 million to the Trading Corporation of Pakistan (TCP) for purchase of urea, Business R
Published 06 Nov, 2008 12:00am

Milk powder ends down on Jodia Bazaar

The trading in milk powder edged down on Jodia Bazaar here on Wednesday. The following changes were noted.
Published 06 Nov, 2008 12:00am

Ecnec to reconsider Lyari Expressway scheme today

The Planning and Development Division has expressed dissatisfaction over external financial assistance in Karachi in the past, saying that it was piecemeal, with no integrated approach to improve urban infrastructure and services on sustainable basis.
Published 06 Nov, 2008 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 120,494 tonnes of cargo including 75,657 tonnes of import, 44,837 tonnes of export cargo and 4,213 loaded and empty containers (TEUs) during last 24 hours ending at 0700 hours on Wednesday.
Published 06 Nov, 2008 12:00am

Ecnec to reconsider Lyari Expressway scheme today

The Planning and Development Division has expressed dissatisfaction over external financial assistance in Karachi in the past, saying that it was piecemeal, with no integrated approach to improve urban infrastructure and services on sustainable basis.
Published 06 Nov, 2008 12:00am

KCBT wheat futures end higher

Hard red winter wheat futures on the Kansas City Board of Trade ended higher Tuesday, supported by a weaker dollar, stronger crude values and gains in corn and soybean futures. KCBT December ended up 11-1/4 cents at $6.09 per bushel, with March up 10-3/4
Published 06 Nov, 2008 12:00am

Ecnec to reconsider Lyari Expressway scheme today

The Planning and Development Division has expressed dissatisfaction over external financial assistance in Karachi in the past, saying that it was piecemeal, with no integrated approach to improve urban infrastructure and services on sustainable basis.
Published 06 Nov, 2008 12:00am

Australia cuts wheat crop forecast by 11.4 percent

The Australian government cut its forecast for the 2008/09 wheat crop by ll.4 percent to 19.91 million tonnes on Wednesday, citing a lack of spring rain across south-east Australia. The cut from a previous forecast of 22.46 million tonnes in September by
Published 06 Nov, 2008 12:00am

Treasury bills auction signals rise in discount rate

The Sate Bank of Pakistan on Wednesday hinted that some hike in policy rate is on the cards, as it raised the cut-off yield of three-month treasury bills by 97 basis points to 13.5313 percent, which is above the policy rate, banking sources said. Expected
Published 06 Nov, 2008 12:00am

US Midwest harvest supplies weaken corn; soy steady

Corn basis bids were mostly lower on Tuesday as harvest supplies moved into the market and amid soaring barge freight, while soy was mostly steady. Traders said corn basis bids on the eastern Corn Belt were weighed by supplies from the harvest. There was
Published 06 Nov, 2008 12:00am

Treasury bills auction signals rise in discount rate

The Sate Bank of Pakistan on Wednesday hinted that some hike in policy rate is on the cards, as it raised the cut-off yield of three-month treasury bills by 97 basis points to 13.5313 percent, which is above the policy rate, banking sources said. Expected
Published 06 Nov, 2008 12:00am

Canadian canola futures end higher

ICE Canadian canola futures closed higher on Tuesday, supported by rallies in outside markets, traders said. January canola ended up $3.60 per tonne at $432.20 after hitting a high of $439.90. Gains were capped by the strengthening of the Canadian dollar
Published 06 Nov, 2008 12:00am

Treasury bills auction signals rise in discount rate

The Sate Bank of Pakistan on Wednesday hinted that some hike in policy rate is on the cards, as it raised the cut-off yield of three-month treasury bills by 97 basis points to 13.5313 percent, which is above the policy rate, banking sources said. Expected
Published 06 Nov, 2008 12:00am

Kenya tea prices fall

Kenyan tea prices dropped at this week's auction reflecting quality and slower demand, traders said on Wednesday. "There was less general demand for the 117,854 packages (7.6 million kg) at irregularly easier levels which declined as the sale progressed w
Published 06 Nov, 2008 12:00am

Treasury bills auction signals rise in discount rate

The Sate Bank of Pakistan on Wednesday hinted that some hike in policy rate is on the cards, as it raised the cut-off yield of three-month treasury bills by 97 basis points to 13.5313 percent, which is above the policy rate, banking sources said. Expected
Published 06 Nov, 2008 12:00am

Philippines delays plan to export corn on low prices

British education and training firm Wilmington Group Plc said on Wednesday bookings for its courses fell in the first quarter, prompting a round of cost cutting. The company's shares were down 8 percent at 133 pence early on Wednesday.
Published 06 Nov, 2008 12:00am

SBP to provide 100 percent refinancing to banks under EFS

The State Bank of Pakistan on Wednesday announced to provide 100 percent refinancing to banks under Part-I of the Export Finance Scheme (EFS) to provide more liquidity to banks for export financing. Sources said that the SBP move would inject some Rs 25-2
Published 06 Nov, 2008 12:00am

FOB Gulf corn, soy values steady; barge freight firm

US FOB corn export premiums held steady held steady on Tuesday despite weak demand from overseas buyers, traders said. Soybean and wheat values also held steady. Overseas demand for US corn was weak because the flat price was too high, a trader said. A ra
Published 06 Nov, 2008 12:00am

SBP to provide 100 percent refinancing to banks under EFS

The State Bank of Pakistan on Wednesday announced to provide 100 percent refinancing to banks under Part-I of the Export Finance Scheme (EFS) to provide more liquidity to banks for export financing. Sources said that the SBP move would inject some Rs 25-2
Published 06 Nov, 2008 12:00am

India allocates two million tonnes of wheat for export

India will make available two million tonnes of wheat for export to meet requests made through diplomatic channels for an exemption from the country's export ban, the farm minister said on Wednesday. "We have kept two million tonnes of wheat for supplies
Published 06 Nov, 2008 12:00am

SBP to provide 100 percent refinancing to banks under EFS

The State Bank of Pakistan on Wednesday announced to provide 100 percent refinancing to banks under Part-I of the Export Finance Scheme (EFS) to provide more liquidity to banks for export financing. Sources said that the SBP move would inject some Rs 25-2
Published 06 Nov, 2008 12:00am

US corn futures end higher

Corn futures on the Chicago Board of Trade climbed more than 2 percent Tuesday, following a broad rally in commodities as the US dollar slumped and crude oil prices soared 10 percent, traders said. NYMEX crude oil closed above $70 a barrel on signs that O
Published 06 Nov, 2008 12:00am

Wapda pressing government to include KBD in PRSP-II

The Water and Power Development Authority (Wapda) is pressing the government to include Kalabagh dam as part of the Poverty Reduction Strategy Paper (PRSP-II), currently under preparation in Finance Ministry, official sources told Business Recorder </i
Published 06 Nov, 2008 12:00am

US wheat futures end up

US wheat futures closed higher on Tuesday, tracking a broad rally in commodities as the dollar softened, traders said. Grains also drew support from US stock markets, which staged an Election Day rally. The Dow Jones industrial average rose more than 3 pe
Published 06 Nov, 2008 12:00am

Wapda pressing government to include KBD in PRSP-II

The Water and Power Development Authority (Wapda) is pressing the government to include Kalabagh dam as part of the Poverty Reduction Strategy Paper (PRSP-II), currently under preparation in Finance Ministry, official sources told Business Recorder </i
Published 06 Nov, 2008 12:00am

TCP may enter to stabilise cotton market within 2-3 days

Prices maintained a firm outlook on the cotton market on Wednesday as the Trading Corporation of Pakistan (TCP) is expected to enter the market within two-three days, dealers said. The official spot rate was unchanged Rs 3200, they said. Phutti prices in
Published 06 Nov, 2008 12:00am

Wapda pressing government to include KBD in PRSP-II

The Water and Power Development Authority (Wapda) is pressing the government to include Kalabagh dam as part of the Poverty Reduction Strategy Paper (PRSP-II), currently under preparation in Finance Ministry, official sources told Business Recorder </i
Published 06 Nov, 2008 12:00am

Rice prices decline on grain market

Modest to sharp decline was seen in the rice prices on the grain market on Wednesday as supply was good due to better production, dealers said. Irri-9 Punjab (old) low type shed Rs 100 to Rs 4000 and good quality followed suit, losing Rs 400 to Rs 4100.
Published 06 Nov, 2008 12:00am

Pakistan looks to Obama to promote stability

President Asif Ali Zardari has congratulated the newly elected President of the United States Barack Obama and expressed the hope that relations between the two countries would further be strengthened under the new American leadership, the Pakistani embas
Published 06 Nov, 2008 12:00am

Tocom rubber off highs

The key Tokyo rubber futures contract ended 6.3 percent lower in volatile trade on Wednesday, shedding early gains due to stop-loss selling fuelled by a reversal in oil prices. The benchmark rubber contract on the Tokyo Commodity Exchange for April delive
Published 06 Nov, 2008 12:00am

Pakistan looks to Obama to promote stability

President Asif Ali Zardari has congratulated the newly elected President of the United States Barack Obama and expressed the hope that relations between the two countries would further be strengthened under the new American leadership, the Pakistani embas
Published 06 Nov, 2008 12:00am

US copper gains

US copper futures ended up over 6 percent on Tuesday, jumping back above the $2.00 a lb threshold at one point, as sharp gains in equities and a weaker dollar fuelled the short-covering rally. Copper for December delivery surged 11.80 cents, or 6.4 percen
Published 06 Nov, 2008 12:00am

American writer Michael Crichton passes away

Michael Crichton, author of more than a dozen best-sellers including "Jurassic Park" and "The Andromeda Strain," has died of cancer in Los Angeles, aged 66, his web-site and reports said on Wednesday. An official biography of the author posted on his web-
Published 06 Nov, 2008 12:00am

Shanghai copper up

Shanghai copper rose almost 3 percent on Wednesday, but London prices shed 1.7 percent in profit taking after rising more than 6 percent overnight. Traders said gains in the dollar, which rose about a third of a percent against the euro, was spark enough
Published 06 Nov, 2008 12:00am

American writer Michael Crichton passes away

Michael Crichton, author of more than a dozen best-sellers including "Jurassic Park" and "The Andromeda Strain," has died of cancer in Los Angeles, aged 66, his web-site and reports said on Wednesday. An official biography of the author posted on his web-
Published 06 Nov, 2008 12:00am

US grains drop

Chicago wheat, soybean and corn futures fell more than 1 percent on Wednesday, reversing some gains, as oil dropped and dollar strengthened after Democrat Barack Obama won the US presidential election. Oil fell 3 percent, gold 1 and metals 3 percent, reve
Published 06 Nov, 2008 12:00am

Textile composite sector shows 12 percent profits growth

Among the three textile segments, only one--composite sector--has shown positive growth of 12 percent in profits at Rs 1.5 billion in the first quarter (July-September) of FY09. The net sales of this segment grew by 34 percent to Rs 30.3 billion, primaril
Published 06 Nov, 2008 12:00am

US rice futures soar

US rough rice futures on the Chicago Board of Trade rose the daily limit on Tuesday, spurred by a weaker dollar and hopes that commodities and financials may stabilise with the election of a new US president, traders said. Prospects for fresh export busin
Published 06 Nov, 2008 12:00am

Textile composite sector shows 12 percent profits growth

Among the three textile segments, only one--composite sector--has shown positive growth of 12 percent in profits at Rs 1.5 billion in the first quarter (July-September) of FY09. The net sales of this segment grew by 34 percent to Rs 30.3 billion, primaril
Published 06 Nov, 2008 12:00am

New York sugar soared to close up

Raw sugar futures rocketed to close up more than 4 percent at a one-month high on Tuesday, catching a ride higher with crude oil's rally and the weak US dollar on Election Day, brokers said. The key March raw sugar contract finished up 0.53 cent, or 4.4 p
Published 06 Nov, 2008 12:00am

Textile composite sector shows 12 percent profits growth

Among the three textile segments, only one--composite sector--has shown positive growth of 12 percent in profits at Rs 1.5 billion in the first quarter (July-September) of FY09. The net sales of this segment grew by 34 percent to Rs 30.3 billion, primaril
Published 06 Nov, 2008 12:00am

US soy futures rise

US soybean futures on the Chicago Board of Trade climbed on Tuesday on optimism that financial and commodity markets may stabilise with the election of a new US president, traders said. Weaker dollar fuelled the broad-based rally in commodities as a cheap
Published 06 Nov, 2008 12:00am

Balochistan quake: Gilani asks Erra to assess reconstruction cost of houses

Prime Minister Syed Yousuf Raza Gilani has directed the Earthquake Reconstruction and Rehabilitation Authority (Erra) to assess the reconstruction cost of houses damaged by earthquake in Balochistan. Addressing the third annual review conference of the Er
Published 06 Nov, 2008 12:00am

Malaysian palm oil leaps

Malaysian crude palm oil leapt as much as 9 percent on Wednesday as oil prices held some of the previous day's surge while financial markets perked up. India's move to defer reimposing import duties on crude vegetable oil and Malaysia scrapping duties on
Published 06 Nov, 2008 12:00am

Balochistan quake: Gilani asks Erra to assess reconstruction cost of houses

Prime Minister Syed Yousuf Raza Gilani has directed the Earthquake Reconstruction and Rehabilitation Authority (Erra) to assess the reconstruction cost of houses damaged by earthquake in Balochistan. Addressing the third annual review conference of the Er
Published 06 Nov, 2008 12:00am

Malaysian tin climbs

Malaysian tin gained 3.5 percent on Wednesday after the London Metal Exchange (LME) headed higher and demand strengthened, said one dealer.
Published 06 Nov, 2008 12:00am

Woman arrested for calling Japanese police 7,177 times

Japanese police arrested a woman for making more than 7,000 emergency telephone calls because an officer did not take her initial complaint seriously, a police spokesman said Wednesday. The 38-year-old was arrested on Tuesday on charges of obstructing pol
Published 06 Nov, 2008 12:00am

Oil falls after surge, dollar up

Oil fell more than 3 percent towards $68 a barrel on Wednesday, reversing part of the previous day's surge after Democrat Barack Obama's victory in the US Presidential election gave a boost to the dollar. Obama defeated Republican John McCain to be the fi
Published 06 Nov, 2008 12:00am

Woman arrested for calling Japanese police 7,177 times

Japanese police arrested a woman for making more than 7,000 emergency telephone calls because an officer did not take her initial complaint seriously, a police spokesman said Wednesday. The 38-year-old was arrested on Tuesday on charges of obstructing pol
Published 06 Nov, 2008 12:00am

US gold goes up

US gold futures ended more than 4 percent higher as investors ditched the dollar and moved to commodities and stocks, reliladium closed up $7.40, or 3.7 percent, at $209.70 an ounce. Extends gains on bargain hunting after recent weakness. Spot palladium f
Published 06 Nov, 2008 12:00am

APHC hopes Obama to help resolve Kashmir dispute

Welcoming statements of President-elect Barack Obama on Kashmir dispute, APHC Chairman Mirwaiz Umer Farooq hoped he would play his role in settling the issue. He said the new President would use his good offices to settle big issues in the world including
Published 06 Nov, 2008 12:00am

Gold slips in Asia

Gold fell more than 1 percent on Wednesday as the dollar firmed after Democratic contender Barrack Obama won election as the country's 44th chief executive, stirring the prospect of new policies to banish poll campaign uncertainty.
Published 06 Nov, 2008 12:00am

APHC hopes Obama to help resolve Kashmir dispute

Welcoming statements of President-elect Barack Obama on Kashmir dispute, APHC Chairman Mirwaiz Umer Farooq hoped he would play his role in settling the issue. He said the new President would use his good offices to settle big issues in the world including
Published 06 Nov, 2008 12:00am

Chile annual inflation hits 14-year high

Chile's consumer price index rose 0.9 percent in October, slowing its pace from a 1.1 percent increase in September, the National Statistics Institute said on Wednesday. But annual inflation hit a new 14-year high, with the CPI rising 9.9 percent in the 1
Published 06 Nov, 2008 12:00am

Afghan villagers say 36 killed in US wedding strike

Weeping Afghan villagers said Wednesday that a wedding party was turned into a bloodbath after foreign troops unleashed a massive attack thinking they were targeting insurgents. Residents of Wocha Bakhta village, 80 kilometres (50 miles) north of the sout
Published 06 Nov, 2008 12:00am

Siemens unveils provision for possible penalties

The German engineering group Siemens said on Wednesday it would set aside around one billion euros (1.29 billion dollars) to pay for possible penalties linked to a damaging corruption scandal. Siemens said the sum, which would be booked in its 2008 accoun
Published 06 Nov, 2008 12:00am

Afghan villagers say 36 killed in US wedding strike

Weeping Afghan villagers said Wednesday that a wedding party was turned into a bloodbath after foreign troops unleashed a massive attack thinking they were targeting insurgents. Residents of Wocha Bakhta village, 80 kilometres (50 miles) north of the sout
Published 06 Nov, 2008 12:00am

Glaxo cuts 1,000 jobs

GlaxoSmithKline, the world's second biggest drugmaker, is cutting approximately 1,000 US sales jobs by the end of 2008 as it reshapes the operation to compete in an increasingly tough market. The move, which amounts to a reduction of around 12 percent, wi
Published 06 Nov, 2008 12:00am

FBR likely to grant sales tax amnesty

The Federal Board of Revenue (FBR) is likely to grant general sales tax amnesty to the taxpayers till December 31, 2008. The President, Karachi Sales Tax Bar Association (KSTBA), Khushnood A Khan informed Business Recorder on Wednesday said that th
Published 06 Nov, 2008 12:00am

Zimbabwe introduces one million dollar note

Zimbabwe issued three new denominations of banknotes on Wednesday, including a one-million-dollar note, as the impoverished country struggles to cope with runaway inflation. The Reserve Bank of Zimbabwe said the new 100,000-dollar, 500,000 dollar and one-
Published 06 Nov, 2008 12:00am

FBR likely to grant sales tax amnesty

The Federal Board of Revenue (FBR) is likely to grant general sales tax amnesty to the taxpayers till December 31, 2008. The President, Karachi Sales Tax Bar Association (KSTBA), Khushnood A Khan informed Business Recorder on Wednesday said that th
Published 06 Nov, 2008 12:00am

Mortgage applications slump to eight-year low

US mortgage application demand skidded last week to an eight-year low, driven by a nearly 30 percent slump in demand to refinance home loans as borrowing costs rose, a trade group said on Wednesday. The Mortgage Bankers Association's seasonally adjusted m
Published 06 Nov, 2008 12:00am

FBR likely to grant sales tax amnesty

The Federal Board of Revenue (FBR) is likely to grant general sales tax amnesty to the taxpayers till December 31, 2008. The President, Karachi Sales Tax Bar Association (KSTBA), Khushnood A Khan informed Business Recorder on Wednesday said that th
Published 06 Nov, 2008 12:00am

Grim US jobs, services data greet president-elect

The US private sector jobs market deteriorated rapidly in October while the service sector contracted sharply as the worst financial crisis in 80 years hammered the world's largest economy. Privately released reports on Wednesday highlighted the economic
Published 06 Nov, 2008 12:00am

Hotels, cafes may be put under excise regime from next year

The Federal Board of Revenue (FBR) has decided to withdraw sales tax from hotels and restaurants, from next financial year, for bringing them under federal excise regime. Sources told Business Recorder on Wednesday that the decision had been taken
Published 06 Nov, 2008 12:00am

ArcelorMittal slashes output again, shares slump

ArcelorMittal, the world's largest steelmaker, on Wednesday doubled its fourth-quarter output cut to 30 percent as the global financial crisis undercuts demand, sending its share price plunging.
Published 06 Nov, 2008 12:00am

Hotels, cafes may be put under excise regime from next year

The Federal Board of Revenue (FBR) has decided to withdraw sales tax from hotels and restaurants, from next financial year, for bringing them under federal excise regime. Sources told Business Recorder on Wednesday that the decision had been taken
Published 06 Nov, 2008 12:00am

Currency	Rate
USD PKR Interbank Selling / Nov 6	277.92
USD PKR Interbank Buying / Nov 6	277.72
USD to Japanese Yen / Nov 6	153.43
USD to Swiss Franc / Nov 6	0.87
Pound Sterling to USD / Nov 6	1.29
Euro to USD / Nov 6	1.08

Stock	Volume
S&P 500 / Nov 5	5,782.76
Nasdaq / Nov 5	18,439.17
Dow Jones / Nov 5	41,221.88
India Sensex / Nov 6	79,841.86
Tokyo Nikkei / Nov 6	39,303.01
Hang Seng / Nov 6	20,407.15
FTSE 100 / Nov 6	8,284.30
Germany DAX 30 / Nov 6	19,412.80

Item	Value
Gold 10 Grams PKR / Nov 5	242,798
Petrol/Litre / Nov 6	248.38
Crude Oil USD/Barrel / Nov 6	71.12
Karachi Cotton PKR/37.32 KG / Nov 6	18,285
Gold Spot USD/Ounce / Nov 6	2,742.04
Diesel/Litre / Nov 6	255.14

Stock	Price
786 Invest Ltd / Nov 6 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 6 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Nov 6 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 6 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 6 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Nov 6 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 6 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Nov 6 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 6 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 6 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 6 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Nov 6 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 6 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 6 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Nov 6 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 6 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Nov 6 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 6 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Nov 6 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Nov 6 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Nov 6 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Nov 6 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Nov 6 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Nov 6 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Nov 6 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Nov 6 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Nov 6 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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