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Print - 2009-01-14
PML-N to back Gilani on issue of presidential powers: Nawaz

PML-N to back Gilani on issue of presidential powers: Nawaz

Pakistan Muslim League-N Quaid Mian Nawaz Sharif on Tuesday said that his party will put all its weight behind prime minister in case of presidency's reluctance to scrap presidential powers. "In case of any tussle between prime minister and president rega
Published 14 Jan, 2009 12:00am
Monitoring withholding tax: banks reluctant to provide data to LTU

Monitoring withholding tax: banks reluctant to provide data to LTU

Banks are reluctant to provide profit and debt statements and information pertaining to salaries of their employees to Large Taxpayers Unit (LTU), Karachi. This information was required to monitor withholding tax as per instructions of Federal Board of Re
Published 14 Jan, 2009 12:00am
Monitoring withholding tax: banks reluctant to provide data to LTU

Monitoring withholding tax: banks reluctant to provide data to LTU

Banks are reluctant to provide profit and debt statements and information pertaining to salaries of their employees to Large Taxpayers Unit (LTU), Karachi. This information was required to monitor withholding tax as per instructions of Federal Board of Re
Published 14 Jan, 2009 12:00am
Monitoring withholding tax: banks reluctant to provide data to LTU

Monitoring withholding tax: banks reluctant to provide data to LTU

Banks are reluctant to provide profit and debt statements and information pertaining to salaries of their employees to Large Taxpayers Unit (LTU), Karachi. This information was required to monitor withholding tax as per instructions of Federal Board of Re
Published 14 Jan, 2009 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (January 13, 2009).

Published 14 Jan, 2009 12:00am
APL accuses Pepco of unfairness in payment of dues

APL accuses Pepco of unfairness in payment of dues

Attock Petroleum Limited (APL) has accused Pakistan Electric Power Company (Pepco) of giving preference to its (APL) competitors in the clearance of outstanding dues, sources told Business Recorder. They said that one of the company''s Assistant Ge
Published 14 Jan, 2009 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (January 13, 2009).

Published 14 Jan, 2009 12:00am
APL accuses Pepco of unfairness in payment of dues

APL accuses Pepco of unfairness in payment of dues

Attock Petroleum Limited (APL) has accused Pakistan Electric Power Company (Pepco) of giving preference to its (APL) competitors in the clearance of outstanding dues, sources told Business Recorder. They said that one of the company's Assistant Gen
Published 14 Jan, 2009 12:00am
NJLI Pension Fund Rates

NJLI Pension Fund Rates

New Jubilee Life Insurance Pension Fund Rates on Tuesday (January 13, 2009).

Published 14 Jan, 2009 12:00am
APL accuses Pepco of unfairness in payment of dues

APL accuses Pepco of unfairness in payment of dues

Attock Petroleum Limited (APL) has accused Pakistan Electric Power Company (Pepco) of giving preference to its (APL) competitors in the clearance of outstanding dues, sources told Business Recorder. They said that one of the company's Assistant Gen
Published 14 Jan, 2009 12:00am
TCP blamed for sugar price hike

TCP blamed for sugar price hike

Sugar prices have shot up incredibly in the market during last 10 days or so, as a result of defective policy of the Trading Corporation of Pakistan (TCP), according to market analysts here. The commodity, which was available at Rs 36 per kg until a few d
Published 14 Jan, 2009 12:00am
TCP blamed for sugar price hike

TCP blamed for sugar price hike

Sugar prices have shot up incredibly in the market during last 10 days or so, as a result of defective policy of the Trading Corporation of Pakistan (TCP), according to market analysts here. The commodity, which was available at Rs 36 per kg until a few d
Published 14 Jan, 2009 12:00am
TCP blamed for sugar price hike

TCP blamed for sugar price hike

Sugar prices have shot up incredibly in the market during last 10 days or so, as a result of defective policy of the Trading Corporation of Pakistan (TCP), according to market analysts here. The commodity, which was available at Rs 36 per kg until a few d
Published 14 Jan, 2009 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (January 13, 2009).

Published 14 Jan, 2009 12:00am
German investors keen to set up fertiliser plant

German investors keen to set up fertiliser plant

Federal Minister for Industries and Production, Mian Manzoor Ahmad Wattoo on Tuesday said that foreign investors would be facilitated to establish fertiliser plants in the country. "There is need to establish fertiliser plants in Pakistan and the governme
Published 14 Jan, 2009 12:00am
German investors keen to set up fertiliser plant

German investors keen to set up fertiliser plant

Federal Minister for Industries and Production, Mian Manzoor Ahmad Wattoo on Tuesday said that foreign investors would be facilitated to establish fertiliser plants in the country. "There is need to establish fertiliser plants in Pakistan and the governme
Published 14 Jan, 2009 12:00am
German investors keen to set up fertiliser plant

German investors keen to set up fertiliser plant

Federal Minister for Industries and Production, Mian Manzoor Ahmad Wattoo on Tuesday said that foreign investors would be facilitated to establish fertiliser plants in the country. "There is need to establish fertiliser plants in Pakistan and the governme
Published 14 Jan, 2009 12:00am
No Pakistani military build-up on borders: India

No Pakistani military build-up on borders: India

There was no military build-up by Pakistan on the borders, said Indian Army's Western Commander Lieutenant General T K Sapru on Tuesday. It only seems like routine movements and exercise-related relocation of troops by Pakistan and not a build-up. But we
Published 14 Jan, 2009 12:00am
No Pakistani military build-up on borders: India

No Pakistani military build-up on borders: India

There was no military build-up by Pakistan on the borders, said Indian Army's Western Commander Lieutenant General T K Sapru on Tuesday. It only seems like routine movements and exercise-related relocation of troops by Pakistan and not a build-up. But we
Published 14 Jan, 2009 12:00am
$673.50 million record remittances received in December

$673.50 million record remittances received in December

Pakistan''s overseas workers sent record $673.50 million remittances in December 2008, surpassing $660.35 million in September 2008, and showing an increase of $194.24 million, or 40.53 percent During July-December 2008, the country received $3.640 billio
Published 14 Jan, 2009 12:00am
$673.50 million record remittances received in December

$673.50 million record remittances received in December

Pakistan's overseas workers sent record $673.50 million remittances in December 2008, surpassing $660.35 million in September 2008, and showing an increase of $194.24 million, or 40.53 percent During July-December 2008, the country received $3.640 billion
Published 14 Jan, 2009 12:00am
$673.50 million record remittances received in December

$673.50 million record remittances received in December

Pakistan's overseas workers sent record $673.50 million remittances in December 2008, surpassing $660.35 million in September 2008, and showing an increase of $194.24 million, or 40.53 percent During July-December 2008, the country received $3.640 billion
Published 14 Jan, 2009 12:00am
10 alleged militants tried in Indonesia

10 alleged militants tried in Indonesia

Ten suspected Islamic militants went on trial Tuesday in an Indonesian court for allegedly killing a Christian schoolteacher and plotting to bomb a cafe. The defendants, including a Singaporean who allegedly met al Qaida leader Osama bin Laden, face sente
Published 14 Jan, 2009 12:00am
10 alleged militants tried in Indonesia

10 alleged militants tried in Indonesia

Ten suspected Islamic militants went on trial Tuesday in an Indonesian court for allegedly killing a Christian schoolteacher and plotting to bomb a cafe. The defendants, including a Singaporean who allegedly met al Qaida leader Osama bin Laden, face sente
Published 14 Jan, 2009 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (January 13, 2009).

Published 14 Jan, 2009 12:00am
British doctors deliver miracle baby after mother's death

British doctors deliver miracle baby after mother's death

A baby girl delivered by British doctors two days after her mother was declared clinically dead from a brain haemorrhage has been named Aya, which means miracle in Arabic, her father told a British newspaper Tuesday.Doctors at the John Radcliffe hospital
Published 14 Jan, 2009 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (January 13, 2009).
Published 14 Jan, 2009 12:00am
British doctors deliver miracle baby after mother's death

British doctors deliver miracle baby after mother's death

A baby girl delivered by British doctors two days after her mother was declared clinically dead from a brain haemorrhage has been named Aya, which means miracle in Arabic, her father told a British newspaper Tuesday.Doctors at the John Radcliffe hospital
Published 14 Jan, 2009 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Tuesday (January 13, 2009).

Published 14 Jan, 2009 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (January 13, 2009).

Published 14 Jan, 2009 12:00am
Obama must step up fight against secret nuclear trade: experts

Obama must step up fight against secret nuclear trade: experts

Incoming President Barack Obama must step up ways to stop secret nuclear trade involving Pakistan, Iran and North Korea that goes far beyond an AQ Khan network that may still be active, experts say. In the Bush administration's waning days, the State Depa
Published 14 Jan, 2009 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Tuesday (January 13, 2009).

Published 14 Jan, 2009 12:00am
Obama must step up fight against secret nuclear trade: experts

Obama must step up fight against secret nuclear trade: experts

Incoming President Barack Obama must step up ways to stop secret nuclear trade involving Pakistan, Iran and North Korea that goes far beyond an AQ Khan network that may still be active, experts say. In the Bush administration's waning days, the State Depa
Published 14 Jan, 2009 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (January 13, 2009).

Published 14 Jan, 2009 12:00am
Barclays bid rates and maximum rates for payment of interest

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 14 Jan, 2009 12:00am
Taliban kill Afghan 'spy'

Taliban kill Afghan 'spy'

Taliban militants shot dead an Afghan national in tribal belt after accusing him of spying for the United States, a local official said Tuesday. Militants have killed dozens of local tribesmen and Afghan refugees on allegations of spying for mainly the Pa
Published 14 Jan, 2009 12:00am
State Bank of Pakistan conversion rates

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 14 Jan, 2009 12:00am
300 megawatts Chashnup to be operational from January 16

300 megawatts Chashnup to be operational from January 16

Chashma Nuclear Power Plant (Chashnup) would be on bar from January 16, a day before the date originally set for its functioning. Resumption of Chashnup would add 300 MW electricity to the system, brining down the existing power shortage of 1700 MW to 140
Published 14 Jan, 2009 12:00am
Obama agrees to major US force increase in Afghanistan

Obama agrees to major US force increase in Afghanistan

President-elect Barack Obama intends to sign off on Pentagon plans to send up to 30,000 more US troops to Afghanistan to gain time to review the conflict, the Washington Post reported Tuesday. The new deployments would nearly double the current US force i
Published 14 Jan, 2009 12:00am
New York cotton

New York cotton

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

Published 14 Jan, 2009 12:00am
New York cotton

New York cotton

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

Published 14 Jan, 2009 12:00am
Saudi Arabia buys about 385,000 tonnes of wheat

Saudi Arabia buys about 385,000 tonnes of wheat

A Saudi Arabian state buyer has bought at least 385,000 tonnes of hard wheat from Canada in a tender which closed on Friday, European traders said on Tuesday. Some traders said about 420,000 tonnes was bought. Seven shiploads of 55,000 to 60,000 were said
Published 14 Jan, 2009 12:00am
Pakistan''s foreign exchange reserves rise

Pakistan''s foreign exchange reserves rise

Foreign exchange reserves rose by $3.6 billion on January 9, 2009 as compared to November 25, 2008. At present, reserves are estimated at $10 billion. The additional amount can be mainly attributed to the $3.1 billion first tranche released by IMF on Nove
Published 14 Jan, 2009 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 95,826 tonnes of cargo including 59,103 tonnes of import and 36,723 tonnes of export, 3,686 loaded and empty containers (TEUs) during last 24 hours ending at 0700 hours on Tuesday.
Published 14 Jan, 2009 12:00am
Pakistan's foreign exchange reserves rise

Pakistan's foreign exchange reserves rise

Foreign exchange reserves rose by $3.6 billion on January 9, 2009 as compared to November 25, 2008. At present, reserves are estimated at $10 billion. The additional amount can be mainly attributed to the $3.1 billion first tranche released by IMF on Nove
Published 14 Jan, 2009 12:00am
Kenyan coffee auction sales fell in 2007-08

Kenyan coffee auction sales fell in 2007-08

Kenya's coffee auction sales fell 26 percent in the 2007/08 (October-September) crop to 39.5 million kg from 53.4 million, on low output following bad weather and disease, according to the Nairobi Coffee Exchange (NCE). Earnings, however, fell by a lower
Published 14 Jan, 2009 12:00am
Pakistan's foreign exchange reserves rise

Pakistan's foreign exchange reserves rise

Foreign exchange reserves rose by $3.6 billion on January 9, 2009 as compared to November 25, 2008. At present, reserves are estimated at $10 billion. The additional amount can be mainly attributed to the $3.1 billion first tranche released by IMF on Nove
Published 14 Jan, 2009 12:00am
US wheat futures down

US wheat futures down

US wheat futures plunged close to their 60-cent-per-bushel daily trading limits on Monday, after a US Agriculture Department report estimated 2008/09 end stocks were bigger than expected, traders said. Chicago Board of Trade March wheat futures settled do
Published 14 Jan, 2009 12:00am
Oil World forecasts larger Indian soyoil imports

Oil World forecasts larger Indian soyoil imports

India is likely to import more soyoil and export less soymeal in coming months following a poor soybean crop, Hamburg-based oilseeds analysts Oil World said on Tuesday. Oil World has lowered its estimate of India's 2008 soybean crop to 9.0 million tonnes
Published 14 Jan, 2009 12:00am
US Midwest spot corn and soybean bids mostly steady

US Midwest spot corn and soybean bids mostly steady

US Midwest spot corn and soybean basis bids were mostly steady to weak on Monday, with many locations posting protection following limit-down moves in futures to guard against further declines, grain dealers said. Dealers said they were taking 7 to 12 cen
Published 14 Jan, 2009 12:00am
Prices stable on cotton market

Prices stable on cotton market

Prices maintained firm posture on cotton market on Tuesday despite continued fall in the NY cotton futures, dealers said. The official spot rate was unchanged at Rs 3200, they said. Phutti prices in both Punjab and Sindh were at Rs 1600-1750, they added.
Published 14 Jan, 2009 12:00am
Pakistan misses opportunity to export $300 million rice

Pakistan misses opportunity to export $300 million rice

Pakistan has missed an opportunity to export rice worth $300 million as it could not participate in three different tenders of 0.750 million tons rice in international markets due to high prices, sources said. Pakistani rice was offered higher by $29 to $
Published 14 Jan, 2009 12:00am
No change on grain market

No change on grain market

Not a single change was seen on the grain market on Tuesday as most of the commodities maintained overnight levels, dealers said.
Published 14 Jan, 2009 12:00am
Pakistan misses opportunity to export $300 million rice

Pakistan misses opportunity to export $300 million rice

Pakistan has missed an opportunity to export rice worth $300 million as it could not participate in three different tenders of 0.750 million tons rice in international markets due to high prices, sources said. Pakistani rice was offered higher by $29 to $
Published 14 Jan, 2009 12:00am
Canadian canola futures lower

Canadian canola futures lower

ICE Canadian canola futures ended sharply lower on Monday, pressured by limit losses in soybean futures, traders said. Prices were underpinned by routine exporter buying, and weakness in the Canadian dollar. Most of the volume was in flat price spread. Th
Published 14 Jan, 2009 12:00am
Pakistan misses opportunity to export $300 million rice

Pakistan misses opportunity to export $300 million rice

Pakistan has missed an opportunity to export rice worth $300 million as it could not participate in three different tenders of 0.750 million tons rice in international markets due to high prices, sources said. Pakistani rice was offered higher by $29 to $
Published 14 Jan, 2009 12:00am
Bangladesh tea prices rise

Bangladesh tea prices rise

The average price of Bangladesh teas rose 1.55 percent to 125.15 taka ($1.82) per kg at the weekly auction on Tuesday, brokers said. Nearly 1.32 million kg were sold at 125.15 taka per kg on average, up 1.91 taka from the last sale. The withdrawal percent
Published 14 Jan, 2009 12:00am
FBR meets IMF condition on co-location of income, sales tax

FBR meets IMF condition on co-location of income, sales tax

The Federal Board of Revenue (FBR) has met International Monetary Fund (IMF) condition as stated in Pakistan''s letter of intent (LoI) of November 20 2008 to merge income and sales tax administration through co-location of income and sales tax under one r
Published 14 Jan, 2009 12:00am
US copper loses

US copper loses

US copper futures lost more than 4 percent of their value by the close on Monday as investors turned bearish after reports of a possible suspension of planned copper purchases from China's State Reserves Bureau. Copper for March delivery shed 7.10 cents,
Published 14 Jan, 2009 12:00am
FBR meets IMF condition on co-location of income, sales tax

FBR meets IMF condition on co-location of income, sales tax

The Federal Board of Revenue (FBR) has met International Monetary Fund (IMF) condition as stated in Pakistan's letter of intent (LoI) of November 20 2008 to merge income and sales tax administration through co-location of income and sales tax under one ro
Published 14 Jan, 2009 12:00am
Shanghai copper tracks London direction

Shanghai copper tracks London direction

Copper fell by its daily limit in Shanghai on Tuesday, following a 4.4 percent overnight fall in London prices, after a source said China's State Reserves Bureau was in no rush to restart its suspended copper buying programme.
Published 14 Jan, 2009 12:00am
FBR meets IMF condition on co-location of income, sales tax

FBR meets IMF condition on co-location of income, sales tax

The Federal Board of Revenue (FBR) has met International Monetary Fund (IMF) condition as stated in Pakistan's letter of intent (LoI) of November 20 2008 to merge income and sales tax administration through co-location of income and sales tax under one ro
Published 14 Jan, 2009 12:00am
US rice futures fall

US rice futures fall

US rough rice futures on the Chicago Board of Trade fell to a one-month low on Monday amid spillover selling from the other grains, with the back months diving the 50-cent limit, traders said. Corn, wheat and soy fell their respective trading limits, reac
Published 14 Jan, 2009 12:00am
BRIndex30 up 88.22 points

BRIndex30 up 88.22 points

On Tuesday, BRIndex30 opened at 5,245.10 in the negative zone but soon went up and remained in the green till market closure. It closed at 5,337.08 with a net positive change of 88.22 points and percentage change of 1.68. It experienced intra-day high of
Published 14 Jan, 2009 12:00am
Tokyo rubber slips

Tokyo rubber slips

Key Tokyo rubber futures fell more than 6 percent on Tuesday, tracking a slide in oil prices that outweighed a Thai government plan to shore up rubber prices. By 0035 GMT, the key Tokyo Commodity Exchange rubber contract for June delivery fell as low as 1
Published 14 Jan, 2009 12:00am
BRIndex30 up 88.22 points

BRIndex30 up 88.22 points

On Tuesday, BRIndex30 opened at 5,245.10 in the negative zone but soon went up and remained in the green till market closure. It closed at 5,337.08 with a net positive change of 88.22 points and percentage change of 1.68. It experienced intra-day high of
Published 14 Jan, 2009 12:00am
New York sugar softens

New York sugar softens

Raw sugar futures closed lower Monday on late investor sales as the dollar rose and worries over the deepening economic slowdown depressed sentiment, traders said. The key March raw sugar contract dropped 0.58 cent, or 4.81 percent, to finish at 11.47 cen
Published 14 Jan, 2009 12:00am
SEF helps in KSE recovery

SEF helps in KSE recovery

Karachi share market on Tuesday witnessed selling pressure in the early hours and the KSE-100 index hit 5,929.90 points intra-day low level, down by 111.54 points. However, the NIT announcement to start buying through State Enterprise Fund invited fresh b
Published 14 Jan, 2009 12:00am