News Archives for Print - 2008-11-28

Print - 2008-11-28

Malaysia tin flat

Malaysian tin remained unchanged on Thursday, despite higher London Metal Exchange prices, as a lack of demand sapped sentiment,. One trader said.

Published 28 Nov, 2008 12:00am

Mumbai attacks: US active to avert confrontation between Pakistan and India

The United States has become active to avert any kind of confrontation between Pakistan and India following the deadly terrorist attacks in Mumbai and the Bush administration has rushed to take up the issue with the governments of the two countries.

Published 28 Nov, 2008 12:00am

Oil prices slip in Asia

Oil inched towards $53 on Thursday, as investors fretted over falling oil demand after another set of bearish US stocks and oil demand data, erasing some of the 7 percent gains on an equities rally a day earlier. The Dow Jones industrial average has risen

Published 28 Nov, 2008 12:00am

US gold down

US gold futures ended lower on Wednesday as a firmer dollar against the euro dented interest in the precious metal as a currency hedge, but worries about longer-term inflation were underpinning the precious metal. February settled down $9.20, or 1.1 perce

Published 28 Nov, 2008 12:00am

Asian gold up

Gold edged up Thursday after the euro bounced against the US dollar, but a series of attacks in India's financial capital that killed at least 101 people has yet to ignite safe-haven buying. Suspected gunmen launched attacks in the heart of Mumbai, taking

Published 28 Nov, 2008 12:00am

UBS finds some US tax fraud cases

UBS said on Thursday it has discovered a few cases of tax fraud as part of a US inquiry into whether it helped wealthy Americans dodge taxes through accounts in Switzerland. "Our investigations have uncovered a limited number of cases of tax fraud under b

Published 28 Nov, 2008 12:00am

Japanese compact cars on show in London

An eye-catching array of hi-tech Japanese compact cars went on display in London on Thursday, including one which rotates through 360 degrees. "Japan Car: Designs for the crowded globe" will open to the public this weekend at the Science Museum, displayin

Published 28 Nov, 2008 12:00am

ArcelorMittal to slash upto 9,000 jobs

ArcelorMittal, the world's largest steelmaker, unveiled plans on Thursday to slash up to 9,000 more jobs, saving $1 billion a year in response to a global economic downturn. The company said it would launch a voluntary redundancy scheme for largely white

Published 28 Nov, 2008 12:00am

Big ECB cut seen as eurozone optimism hits 15-year low

Eurozone economic sentiment hit 15-year lows in November and inflation expectations among companies and households fell off a cliff, boosting expectations of a bigger than half-point rate cut by the ECB next week. A monthly European Commission survey show

Published 28 Nov, 2008 12:00am

Nokia to cease sales in Japan, except high-end brand

Nokia, the world's biggest cellphone maker, said on Thursday it will stop selling mobile phones in Japan except for its luxury Vertu brand after struggling to expand its presence. Finnish Nokia has previously said it will cut costs 'decisively', expecting

Published 28 Nov, 2008 12:00am

Indian inflation eases for third week

Indian inflation eased for the third successive week to a six-month low in mid November as demand slowed in the economy, and the central bank was seen cutting rates soon to boost faltering growth. Some analysts said attacks in the financial capital of Mum

Published 28 Nov, 2008 12:00am

France to offer credit insurance aid to companies

The French state is to help cover the credit insurance needs of viable companies so that they are not left in the cold by credit insurers worried about rising defaults as the country heads into recession. Credit insurance firms that might look at a compan

Published 28 Nov, 2008 12:00am

German jobs boom ends as recession bites

The number of German unemployed fell in November to its lowest level since 1992, but a 3-1/2 year labour market boom is running out of steam as recession bites in Europe's biggest economy. Adjusted for seasonal variations, the German jobless total fell by

Published 28 Nov, 2008 12:00am

Faltering Chinese growth may fan unrest: top planner

The downturn in China's economy is gathering force as the global financial crisis spreads, foreshadowing rising unemployment and social unrest, the country's top planner said on Thursday. Alarm bells are ringing in Beijing over the abrupt cooling, which p

Published 28 Nov, 2008 12:00am

Opec may go for third quick supply cut: Libya

Opec has not ruled out making a third production cut in three months when it meets this weekend in a bid to put a floor under collapsing world oil prices, Libya's lead Opec delegate said on Thursday. The Organisation of the Petroleum Exporting Countries i

Published 28 Nov, 2008 12:00am

'Crisis has cost five trillion dollars'

Five trillion dollars have been lost in the global financial crisis, the head of the Davos economic forum said Thursday as he announced a record presence of world leaders at the conference in January. Russian Prime Minister Vladimir Putin will give the op

Published 28 Nov, 2008 12:00am

China diesel exports seen at 18-month high

China will ship out 150,000 tonnes of diesel in December, its highest since May 2007, to retain net exporter status for a third straight month as domestic oil usage buckles in a global recession, traders said Thursday. The world's second-biggest energy us

Published 28 Nov, 2008 12:00am

Macedonia unveils tax breaks to counter crisis

Macedonia unveiled on Thursday a package of tax incentives worth 330 million euros as it tries to counter the impact of the global financial crisis on its growth prospects. The package of 10 measures, which includes reductions in customs duties on raw mat

Published 28 Nov, 2008 12:00am

UBS to handle Lehman Japan loan sale

UBS AG has been hired to arrange the sale of real estate loans extended by the Japanese unit of failed investment bank Lehman Brothers, four people familiar with the matter said. Swiss bank UBS will seek buyers for loans extended through Lehman Brothers C

Published 28 Nov, 2008 12:00am

BoE's Besley says must stop bank loan overreaction

British policymakers must try to prevent banks from over-reacting when they scale back lending during the economic downturn, Bank of England monetary policy committee member Tim Besley said in remarks publicised by the BoE on Thursday.

Published 28 Nov, 2008 12:00am

BHP gloomy on short term, defends Rio decision

Global miner BHP Billiton painted a gloomy near-term outlook for metals demand on Thursday as it defended its decision to drop a $66 billion bid for rival Rio Tinto. BHP, facing its shareholders for the first time since walking away from the Rio bid on Tu

Published 28 Nov, 2008 12:00am

Africa worried over China slowdown

The African Union's top executive on Thursday expressed his concern over the prospect of an economic recession in China, a key trade partner and investor for the continent. China's economy has slowed sharply in recent months amid the global downturn and t

Published 28 Nov, 2008 12:00am

China sees foreign exchange reserves topping $2 trillion by year-end

China's foreign exchange reserves will exceed $2 trillion by the end of the year but they have not reached that level yet, Yao Jingyuan, chief economist at the National Bureau of Statistics, said on Thursday, News agencies earlier quoted Yao as telling a

Published 28 Nov, 2008 12:00am

GOME chairman saga reflects China equity risks

Mystery surrounding a police investigation of China's richest man over alleged stock price manipulation has highlighted the risks to shareholders from murky disclosure rules for Chinese companies. Appliance retailer GOME Electrical Appliance Holdings' sha

Published 28 Nov, 2008 12:00am

Sharp, Enel to invest over $2.6 billion in Italy solar venture

Japan's Sharp Corp, Italy's Enel SpA and a third partner are likely to invest more than $2.6 billion in Italian solar power ventures to tap growing demand for cleaner energy despite a global economic slowdown. Top solar power firms are hurrying to expand

Published 28 Nov, 2008 12:00am

Mauritius trade deficit shrinks eight percent

Mauritius's trade deficit in September fell by 8.2 percent from the same month last year to 5.065 billion rupees ($157.4 million), due largely to a decrease in its petroleum bill, according to official data. The deficit in September 2007 was 5.51 billion

Published 28 Nov, 2008 12:00am

Elpida to take control of venture with Powerchip

Japanese computer memory maker Elpida Memory has decided to take control of its joint venture with Powerchip Semiconductor by lifting its stake to 52 percent from 48.8 percent, a newspaper said. Cash-strapped Elpida, the world's No 3 maker of dynamic rand

Published 28 Nov, 2008 12:00am

Spanish retail sales suffer near record fall

Spanish retail sales fell 8 percent during October, a key shopping month in the run up to Christmas, marking the largest drop since June and the 11th straight month of declining sales as Spain heads into recession. A 7.6 percent fall in sales of clothes a

Published 28 Nov, 2008 12:00am

Taiwan stocks end four percent up

Taiwan stocks rose 4.26 percent on Thursday to an over two-week closing high, as gains on Wall Street fuelled widespread buying, with Hon Hai leading the rally after J.P. Morgan upgraded its rating on the gear maker. The main TAIEX share index ended up 18

Published 28 Nov, 2008 12:00am

Hong Kong shares rise 1.4 percent

Hong Kong shares rose 1.4 percent on Thursday, advancing for a third straight day but closing off highs as investors locked in gains on Chinese stocks after they took the nation's aggressive interest rate reductions as a sign of a sharper-than-expected sl

Published 28 Nov, 2008 12:00am

Wall Street jumps

US stocks climbed on Wednesday as investors snapped up tech stocks trading near their cheapest levels in five years, and renewed hopes of a General Motors bailout helped investors shrug off data depicting a worsening global economic downturn. The Nasdaq r

Published 28 Nov, 2008 12:00am

Singapore shares close flat

Singapore shares closed flat on Thursday, weighed down by heavyweight Singapore Telecommunications on worries over its Indian exposure after deadly attacks there, dealers said. The blue chip Straits Times Index closed down 0.61 points, or 0.03 percent, at

Published 28 Nov, 2008 12:00am

US bonds rise sharply

US Treasury debt prices climbed on Wednesday, with the benchmark note's yield hitting a five-decade low as a rash of dismal economic reports had investors scurrying to safe-haven government debt. The numerous signs of deepening economic distress came in r

Published 28 Nov, 2008 12:00am

US bonds rise sharply

Published 28 Nov, 2008 12:00am

Jakarta shares rally

Indonesian shares ended 0.8 percent higher on Thursday in line with gains across Asia, dealers said. The Jakarta Composite Index rose 8.92 points to 1,202.07 on volume of 3.1 billion shares valued at 2.3 trillion rupiah (190.9 million dollars).

Published 28 Nov, 2008 12:00am

Malaysian shares soar

Malaysian share prices closed 1.6 percent higher on Thursday as buying interest from local government-led funds lifted blue chips and index-linked heavyweights, dealers said. The Kuala Lumpur Composite Index rose 13.61 points to close at 869.98. "Market s

Published 28 Nov, 2008 12:00am

Philippines shares surge

Philippines share prices closed 1.76 percent higher on Thursday, lifted by better-than-expected economic growth figures for the third quarter of the year, dealers said. The composite index gained 34.1 points to 1,976.01 points, while the all-shares index

Published 28 Nov, 2008 12:00am

China shares close firmer

Chinese shares closed up 1.05 percent on Thursday, off early highs as fears about a global economic recession countered an initial rally over Beijing's aggressive interest rate cut, dealers said. Shares opened up more than six percent after the central ba

Published 28 Nov, 2008 12:00am

Nikkei rises two percent

Japan's Nikkei share average rose 2 percent on Thursday to its highest close in more than a week as hopes that a Chinese interest rate cut would help China's economy bolstered shippers, steel and construction machinery makers such as Komatsu Ltd.

Published 28 Nov, 2008 12:00am

Thai shares close 1.37 percent lower

Thai share prices closed 1.37 percent lower on Thursday amid worries about the political situation in Thailand as coup rumours circulated and Bangkok's airports remained closed, dealers said. The Thai index moved narrowly in the negative direction and buc

Published 28 Nov, 2008 12:00am

Canadian dollar dips

The Canadian dollar dipped 0.4 percent against the US dollar on Wednesday on worries over slackening demand for Canadian commodities, but it closed well off its lows for the day as North American stock markets rebounded and commodity prices made gains.

Published 28 Nov, 2008 12:00am

Yuan flat

China's yuan barely moved against the dollar on Thursday after the Chinese central bank announced its biggest monetary easing in a decade. The central bank on Wednesday slashed benchmark one-year lending and deposit rates by 1.08 percentage point, and sai

Published 28 Nov, 2008 12:00am

Dollar slips before US holiday

The dollar fell against the euro on Thursday, reversing some of the previous day's gains on a string of weak US economic reports that renewed worries about a deepening economic recession and revived safe-haven flows into the greenback.

Published 28 Nov, 2008 12:00am

Dollar up

The dollar rose against the euro on Wednesday as a string of weak US economic reports renewed worries of a deepening economic recession, leading investors to seek the greenback as a safe haven. Dollar gains versus the euro recently have been linked to rep

Published 28 Nov, 2008 12:00am

Hong Kong dollar inches higher

The Hong Kong dollar inched higher against the US dollar on Thursday, while interbank rates were steady to a touch firmer ahead of the end of the month. Dealers said the local currency was trapped in a narrow range and sentiment was boosted by a rally in

Published 28 Nov, 2008 12:00am

Australian dollar gains

The Australian dollar held on to modest offshore gains on Thursday, helped by a slight easing in aversion to risk, although a dismal outlook for the global economy capped it at around 65 US cents. Regional stocks rose and commodities advanced, bolstered b

Published 28 Nov, 2008 12:00am

Most Asian currencies firmer

Most Asian currencies rose on Thursday in tandem with firmer stocks, but the positive sentiment was contained by the deadly attacks in India's financial hub Mumbai and Thailand's political strife. The Indonesian rupiah gained 1 percent to 12,150 per dolla

Published 28 Nov, 2008 12:00am

Swiss franc gains

The Swiss franc strengthened against major currencies on Thursday, recouping some of the losses incurred following last week's surprise 1 percent interest rate cut. The franc climbed 0.3 percent against the euro compared to the New York close, trading at

Published 28 Nov, 2008 12:00am

Lawyers demand reinstatement of judges

On the call of the National Co-ordination Council (NCC), the lawyers held their weekly rally to protest against government and demanded to restore the deposed judges.

Published 28 Nov, 2008 12:00am

Unannounced power outages stir panic among Pepco consumers

An unannounced load shedding just before the start of December stirred panic among consumers, particularly commercial consumer, as Pakistan Electricity Power Company (Pepco) assertions of allaying the fears of a major outage from December 15 to onwards ar

Published 28 Nov, 2008 12:00am

Election petition: LHC adjourns hearing till December 15

The Lahore High Court (LHC) on Thursday adjourned hearing till December 15 in an election petition challenging the victory Moonis Elahi son of former Chief Minister Punjab Chaudhry Pervez Elahi for framing proposed issues submitted by both parties. Petiti

Published 28 Nov, 2008 12:00am

Elected LCCI office-bearers spell out priorities and plans

The newly elected office-bearers of Lahore Chamber of Commerce and Industry (LCCI) spelt out their priorities and plans for the coming year during the annual general meeting of the chamber held here on Thursday.

Published 28 Nov, 2008 12:00am

Canning termed feasible for fruits, vegetables' value-addition

For value-addition of fruits and vegetables, canning is the appropriate step, which can open new vistas for this sector by utilising the de-shaped products thus curtailing the wastage. This was stated by Chatchai Boonyarat, Chairman, Malee Sampran Thailan

Published 28 Nov, 2008 12:00am

WWF-P appreciates ban on hunting

World Wide Funds for Nature-Pakistan (WWF-P) delegation had a meeting with the Director General Punjab Rangers General Muhammad Yaqub Khan at the Rangers Headquarters. According to a WWF-P's spokesman here on Thursday, this meeting discussed the joint eff

Published 28 Nov, 2008 12:00am

Nespak earns record profit of Rs 712 million during 2007-2008

The National Engineering Services Pakistan (Nespak) has shown a turnover of Rs 3.23 billion, business acquisition of Rs 5.5billion and profit before taxation of Rs 712 million during the year 2007-2008. The Managing Director, Nespak, Karamat Ullah Chaudhr

Published 28 Nov, 2008 12:00am

Nespak earns record profit of Rs 712 million during 2007-2008

Published 28 Nov, 2008 12:00am

Allied Bank, Telecard sign accord

The Allied Bank has signed a service agreement with Telecard to set up a call centre for outbound customer calls. A statement here on Thursday said that according to the agreement, Telecard will provide Allied Bank with infrastructure, technical/ administ

Published 28 Nov, 2008 12:00am

Agriculture department advised to complete wheat sowing by November 30

Secretary Agriculture Punjab, Muhammad Javed Iqbal Awan has called upon the field officers of the Agriculture Department to ensure sowing of wheat crop 2008-09 on 80 percent of the target area till November 30, 2008. He also directed them to spend most of

Published 28 Nov, 2008 12:00am

Storage of rice: Passco asks Food Department to provide empty godowns

Pakistan Agriculture Storage and Services Corporation (Passco) has asked the Food Department, Punjab, to provide its empty godowns for the storage of the rice, which would be produced from the mills, which are buying paddy throughout the country on behalf

Published 28 Nov, 2008 12:00am

Shahbaz calls to fix cotton, rice prices at Rs 1,500 per maund

Punjab Chief Minister, Mian Muhammad Shahbaz Sharif, has said that he has written a letter to the Federal government to fix the price of rice and cotton at Rs 1,500 per maund. He disclosed this while addressing a meeting here on Thursday regarding increas

Published 28 Nov, 2008 12:00am

Ferguson ready to meet City challenge

Manchester United are ready to tackle head on any challenge from super-rich neighbours Manchester City, manager Alex Ferguson said on Thursday. But Chelsea and Liverpool, equal top on points in the Premier League, remain United's biggest threat for the ti

Published 28 Nov, 2008 12:00am

Liverpool, Inter and Atletico through to last 16

Former European champions Liverpool and Inter Milan sealed their berths in the Champions League last 16 but last season's finalists Chelsea still have work to do after a 1-1 draw at Girondins Bordeaux on Wednesday. Inter advanced from Group B despite a su

Published 28 Nov, 2008 12:00am

Wapda beat KRL in Premier Soccer

Water and Power Development Authority (Wapda) took giant step towards their seventh national title when they struck once in closing minutes of each session to beat KRL 2-0 in the Pakistan Premier Soccer League. In other matches, Pakistan Army snatched 2-1

Published 28 Nov, 2008 12:00am

Mohammad Asif faces dope hearing delay

Pakistan paceman Mohammad Asif's doping tribunal hearing has been delayed due to the terrorist attacks in Mumbai, his lawyer said Thursday. "We were scheduled to leave for Mumbai early Thursday but the Indian Premier League (IPL) officials told us that th

Published 28 Nov, 2008 12:00am

Atletico thank fans for support despite stadium ban

Atletico Madrid's players thanked their fans who had to cheer the side on from outside the Calderon because of a UEFA stadium ban during the 2-1 Champions League victory over PSV Eindhoven.

Published 28 Nov, 2008 12:00am

England versus India ODI matches cancelled

England's last two one-day matches in India were cancelled on Thursday because of security concerns after Wednesday's militant attacks in Mumbai. "The BCCI (Indian board) has accepted the request of the ECB (English board) to cut short the one-day series

Published 28 Nov, 2008 12:00am

Champions League postponed after Mumbai attacks

The Champions League Twenty20 tournament has been postponed due to security fears following the attacks in Mumbai, organisers of next month's event in India said on Thursday. "The inaugural edition of the Champions League Twenty20 scheduled to be played i

Published 28 Nov, 2008 12:00am

Former China player sentenced to death

A former China youth international football player has been sentenced to death with two years' reprieve for killing a man over gambling debts, local media reported on Thursday. Wen Junwu, 30, who played for the national Under-20 team and a top league club

Published 28 Nov, 2008 12:00am

Prince and Boucher revive South Africa

Bangladesh were in the unusual situation of having the upper hand as their bowlers put South Africa under pressure on the second day of the second and final Test at Centurion Park here on Thursday. South Africa were reduced to 134 for five in reply to Ban

Published 28 Nov, 2008 12:00am

Ten-man Internacional win away in first leg of final

Brazilian side Internacional won 1-0 away to Argentina's Estudiantes in the first leg of the Copa Sudamericana final on Wednesday despite playing for more than an hour with 10 men.

Published 28 Nov, 2008 12:00am

Russian leader visits Cuba

If Russian President Dmitry Medvedev needs reminding of how times of changed when he visits Cold War ally Cuba on Thursday, he should look no further than Moscow's old Lourdes intelligence base in Havana. Once a symbol of Soviet power in Latin America and

Published 28 Nov, 2008 12:00am

Thai Prime Minister declares emergency at airports

Thai Prime Minister Somchai Wongsawat declared a state of emergency on Thursday at two Bangkok airports besieged by anti-government protesters, as rumours of a coup swirled round the capital. In a televised address, Somchai said police and some military u

Published 28 Nov, 2008 12:00am

Sri Lanka dreaming of victory, says Tiger leader

The leader of the Tamil Tigers on Thursday said Sri Lanka is "living in a dreamland of military victory", moments after government jets for a second year running destroyed a rebel radio station broadcasting his annual address. Even with a Sri Lankan milit

Published 28 Nov, 2008 12:00am

Iraq's parliament passes US security pact

Iraq's parliament on Thursday approved a landmark security pact with the United States that paves the way for US forces to withdraw by the end of 2011, taking the country a big step closer to full sovereignty. The deal, which parliament linked after days

Published 28 Nov, 2008 12:00am

EU pressed for Congo force, Kinshasa vetoes Indians

Europe heard growing appeals on Thursday to rush a military force to east Congo until the arrival of UN reinforcements, from which diplomats said Kinshasa wants to exclude Indian troops. Congolese President Joseph Kabila's government told UN Secretary-Gen

Published 28 Nov, 2008 12:00am

France to host Afghanistan regional conference

France will host an international conference on Afghanistan next month to enlist neighbouring countries in a stepped-up effort for peace, the French foreign ministry said Thursday. The United States and other big powers are expected to attend the December

Published 28 Nov, 2008 12:00am

Four Afghans killed in suicide attack

A suicide attack close to the US embassy in Kabul Thursday that killed four Afghan civilians and wounded 20 others was aimed at public health minister, who had been threatened about a possible attack, a government spokesman said. The bomber, who was drivi

Published 28 Nov, 2008 12:00am

UNSC clears way for EU mission in Kosovo

The UN Security Council cleared the way on Wednesday for a European Union police and justice mission to deploy in Kosovo, in a statement welcoming agreement by Serbia and Kosovo to the move. The EU mission is intended ultimately to take over from a UN mis

Published 28 Nov, 2008 12:00am

ElBaradei prods Syria on atom probe, cites pictures

The UN nuclear watchdog chief prodded Syria on Thursday to open up military sites to investigators and said he would soon show Damascus satellite images which Washington says indicate covert atomic activity. A November 19 International Atomic Energy Agenc

Published 28 Nov, 2008 12:00am

Afghanistan not in crisis: UN Security Council

Afghanistan is not in a security crisis and disillusionment and recriminations about its situation should be avoided, a UN Security Council team said Thursday at the end of a three-day assessment tour. There were even reasons for "cautious optimism," the

Published 28 Nov, 2008 12:00am

Obama evokes brighter days ahead in Thanksgiving address

President-elect Barack Obama on Thursday promised "a new beginning" when he takes over the White House in January and urged Americans to work together to overcome a deepening economic crisis. "This weekend - with one heart, and one voice, the American peo

Published 28 Nov, 2008 12:00am

Taliban earns $470 million from opium trade: UN

The Taliban has earned up to $470 million from the Afghan opium trade this year alone, the United Nations said on Thursday, money that is being used to finance the insurgency against US and Afghan forces. As well as the income earned from directly taxing

Published 28 Nov, 2008 12:00am

Taliban earns $470 million from opium trade: UN

Published 28 Nov, 2008 12:00am

Dollar Libor rises broadly, especially one-month rates

The rate banks charge each other for lending dollars rose on Thursday, most notably for one-month money, as worries about year-end funding eclipsed optimism over Federal Reserve programs to get credit flowing again.

Published 28 Nov, 2008 12:00am

Sterling hits two-week high

Sterling inched up to a two-week high on a trade-weighted basis on Thursday, drawing support from buoyant stock markets and a report on the UK housing market that was not quite as bleak as economists had feared.

Published 28 Nov, 2008 12:00am

Yen gains in London

The yen gained against the dollar and euro on Thursday as worries about the cost of fiscal stimulus packages and whether they would succeed in limiting a global recession kept the low-yielding currency supported.

Published 28 Nov, 2008 12:00am

India and Thai spreads widen

The risk premium for top Indian lender State Bank of India rose on Thursday, reflecting investor anxiety after deadly attacks by gunmen in Mumbai and contrasting with lower protection costs for most other Asian debt.

Published 28 Nov, 2008 12:00am

India and Thai spreads widen

Published 28 Nov, 2008 12:00am

European credit spreads slightly narrow

European credit spreads were slightly tighter late on Thursday and the market saw further new bond issues as companies remain keen to secure funding before the year-end. By 1619 GMT, the investment-grade Markit iTraxx Europe index was at 162.75 basis poin

Published 28 Nov, 2008 12:00am

European credit spreads slightly narrow

Published 28 Nov, 2008 12:00am

Gulf stocks rise but end week lower

Gulf stock markets rose at their close on Thursday, amid relative stability but were lower at the end of a week that saw high volatility in the seven bourses of the oil-rich region. Dubai bourse led the modest recovery following a string of assurances fro

Published 28 Nov, 2008 12:00am

Closing stock market indices

Major stock markets outside the United States ended on Thursday.

Published 28 Nov, 2008 12:00am

FTSE rises; banks and oils strongest gainers

Britain's top share index ended up 1.8 percent on Thursday as bailout hopes for the US auto sector slightly lifted the deep gloom surrounding the global economy, boosting energy and mining stocks. In thin trading with the US closed for the Thanksgiving ho

Published 28 Nov, 2008 12:00am

Miani Sahib Graveyard: LHC seeks report about new encroachment

The Lahore High Court (LHC) on Thursday sought a detailed report from Secretary Colonies about new encroachment in Miani Sahib Graveyard and directed him to come up on next date of hearing with a report regarding the demarcation of the graveyard land.

Published 28 Nov, 2008 12:00am

Punjab government failed to attract foreign investment: Elahi

Criticising the present Punjab government the central leader and former Punjab Chief minister, Chaudhry Pervaiz Elahi, has said that the present provincial government has failed to attract foreign investment to run development projects particularly in IT

Published 28 Nov, 2008 12:00am

'Buildings should have more exit points'

The United States Information Resource Centre, Lahore, in collaboration with Pakistan Engineering Congress and Pakistan Chapter of American Concrete Association organised a seminar titled, 'Learning Lessons From World Trade Centre collapse on Ground Zero'

Published 28 Nov, 2008 12:00am

Appeal filed in LHC against ban on dancing in theatres

A local stage-dramas producer Zaheer Hussain Adil has filed an intra-court appeal against a Lahore High Court (LHC) single member bench's decision of banning dance performance in theatres, declaring dances an un-Islamic act. Petitioner-producer has challe

Published 28 Nov, 2008 12:00am

Time for India to introspect and reflect: analysts

The longest, lethal and most co-ordinated terrorist attacks by the self-proclaimed "Deccan Mujahideen" on India's financial, cultural and nerve centre, Mumbai, on November 26 night should awaken India to introspect and reflect as the unspecified number of

Published 28 Nov, 2008 12:00am

PGJDC holds Gems Identification course

Pakistan Gems and Jewellery Development Company (PGJDC) started its a two-week training course on "Gemology - Gems Identification," at its Gems and Jewellery Training & Manufacturing Centre (GJTMC)here on Thursday. The program is being attended by 48 part

Published 28 Nov, 2008 12:00am

Copper falls nearly three percent

Copper fell nearly 3 percent on Thursday, shrugging off a softer dollar, dragged lower by the persistent poor demand outlook, while aluminium and lead fell on news that China may cut or abolish export taxes on the metals.

Published 28 Nov, 2008 12:00am

Previous Day

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Nov 29	278.13
USD PKR Interbank Buying / Nov 29	278.03
USD to Japanese Yen / Nov 29	150.14
USD to Swiss Franc / Nov 29	0.88
Pound Sterling to USD / Nov 29	1.27
Euro to USD / Nov 29	1.06

Stock	Volume
S&P 500 / Nov 28	5,998.74
Nasdaq / Nov 28	19,060.48
Dow Jones / Nov 28	44,722.06
India Sensex / Nov 29	19,338.14
Tokyo Nikkei / Nov 29	38,198.52
Hang Seng / Nov 29	79,714.50
FTSE 100 / Nov 29	8,273.90
Germany DAX 30 / Nov 29	19,432.28

Item	Value
Gold 10 Grams PKR / Nov 28	241,602.20
Crude Oil USD/Barrel / Nov 29	69.08
Karachi Cotton PKR/37.32 KG / Nov 29	17,685
Gold Spot USD/Ounce / Nov 29	2,666.09
Cotton US¢/pound / Nov 29	71.75
Petrol/Litre / Nov 30	248.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Nov 30 786 Investments Limited(786)	6.74 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 30 Al-Abbas Sugar Mills Limited(AABS)	619.90 ▼ 0.00 (0.00%)
Agro Allianz / Nov 30 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 30 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 30 Ali Asghar Textile Mills Limited(AATM)	70 ▼ 0.00 (0.00%)
Allied Bank / Nov 30 Allied Bank Limited(ABL)	139.74 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 30 Abbott Laboratories (Pakistan) Limited(ABOT)	1,021.33 ▼ 0.00 (0.00%)
Abson Ind. / Nov 30 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 30 Alfalah Consumer Index ETF.(ACIETF)	12.66 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 30 786 Investments Limited(786)	6.74 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 30 Al-Abbas Sugar Mills Limited(AABS)	619.90 ▲ 0.00 (0.00%)
Agro Allianz / Nov 30 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 30 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 30 Ali Asghar Textile Mills Limited(AATM)	70 ▲ 0.00 (0.00%)
Allied Bank / Nov 30 Allied Bank Limited(ABL)	139.74 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 30 Abbott Laboratories (Pakistan) Limited(ABOT)	1,021.33 ▲ 0.00 (0.00%)
Abson Ind. / Nov 30 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 30 Alfalah Consumer Index ETF.(ACIETF)	12.66 ▲ 0.00 (0.00%)

Stock	Volume
B.O.Punjab / Nov 30 The Bank of Punjab(BOP)	179,225,089 ▲ 0.00
K-Electric Ltd. / Nov 30 K-Electric Limited(KEL)	64,868,271 ▲ 0.00
Bank Makramah / Nov 30 Bank Makramah Limited(BML)	60,297,878 ▲ 0.00
Pace (Pak) Ltd. / Nov 30 Pace (Pakistan) Limited(PACE)	55,350,909 ▲ 0.00
Hascol Petrol / Nov 30 Hascol Petroleum Limited(HASCOL)	42,730,290 ▲ 0.00
Fauji Foods Ltd / Nov 30 Fauji Foods Limited(FFL)	38,903,524 ▲ 0.00
Sui South Gas / Nov 30 Sui Southern Gas Company Limited(SSGC)	36,014,321 ▲ 0.00
Cnergyico PK / Nov 30 Cnergyico PK Limited(CNERGY)	33,477,996 ▲ 0.00
WorldCall Telecom / Nov 30 Worldcall Telecom Limited(WTL)	31,208,624 ▲ 0.00

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