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Sep 22, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2009-01-29
Wen and Putin lash out at US over economic crisis

Wen and Putin lash out at US over economic crisis

Chinese and Russian leaders Wen Jiabao and Vladimir Putin on Wednesday blamed the United States for causing the global economic crisis on a gloomy first day of the Davos forum. Both called for a new attitude by President Barack Obama, while deepening pess
Published 29 Jan, 2009 12:00am
Stuck-up R&D fund to be cleared within week: Tarin

Stuck-up R&D fund to be cleared within week: Tarin

The Advisor to Prime Minister on Finance Shaukat Tarin said Wednesday the stuck up Research & Development (R&D) fund of apparel sector, under the SRO 437, will be cleared within this week. A meeting between the Finance Advisor and the apparel sector repre
Published 29 Jan, 2009 12:00am
Stuck-up R&D fund to be cleared within week: Tarin

Stuck-up R&D fund to be cleared within week: Tarin

The Advisor to Prime Minister on Finance Shaukat Tarin said Wednesday the stuck up Research & Development (R&D) fund of apparel sector, under the SRO 437, will be cleared within this week. A meeting between the Finance Advisor and the apparel sector repre
Published 29 Jan, 2009 12:00am
Stuck-up R&D fund to be cleared within week: Tarin

Stuck-up R&D fund to be cleared within week: Tarin

The Advisor to Prime Minister on Finance Shaukat Tarin said Wednesday the stuck up Research & Development (R&D) fund of apparel sector, under the SRO 437, will be cleared within this week. A meeting between the Finance Advisor and the apparel sector repre
Published 29 Jan, 2009 12:00am
President vows to rein in Taliban

President vows to rein in Taliban

President Asif Ali Zardari Wednesday vowed to rein in Taliban militants in north-western Swat valley and prevent them from establishing their own courts, a government spokesman said. Zardari spoke by telephone to a senior Swat politician, Afzal Khan Lala,
Published 29 Jan, 2009 12:00am
President vows to rein in Taliban

President vows to rein in Taliban

President Asif Ali Zardari Wednesday vowed to rein in Taliban militants in north-western Swat valley and prevent them from establishing their own courts, a government spokesman said. Zardari spoke by telephone to a senior Swat politician, Afzal Khan Lala,
Published 29 Jan, 2009 12:00am
Army chief visits Swat valley

Army chief visits Swat valley

Army chief on Wednesday visited the Swat valley for the first time since ordering a crackdown on extremists. Authorities have intensified efforts to wrest back control of the valley. Army chief General Ashfaq Kayani visited Swat on Wednesday despite incre
Published 29 Jan, 2009 12:00am
Army chief visits Swat valley

Army chief visits Swat valley

Army chief on Wednesday visited the Swat valley for the first time since ordering a crackdown on extremists. Authorities have intensified efforts to wrest back control of the valley. Army chief General Ashfaq Kayani visited Swat on Wednesday despite incre
Published 29 Jan, 2009 12:00am
Pakistan denies understanding with US on predator attacks

Pakistan denies understanding with US on predator attacks

Foreign Office said on Wednesday that Pakistan and the United States had no understanding on predator attacks. In response to the statement of US Secretary of Defence Robert Gate on US drone attacks inside Pakistan's territory, spokesman Mohammad Sadiq ru
Published 29 Jan, 2009 12:00am
US bonds up

US bonds up

The US Treasury debt market rallied on Tuesday, prompted by solid demand for a record $40 billion offering of two-year notes and speculation that the Federal Reserve will open the door to buying long-dated government bonds. The 30-year Treasury bond led t
Published 29 Jan, 2009 12:00am
US bonds up

US bonds up

The US Treasury debt market rallied on Tuesday, prompted by solid demand for a record $40 billion offering of two-year notes and speculation that the Federal Reserve will open the door to buying long-dated government bonds. The 30-year Treasury bond led t
Published 29 Jan, 2009 12:00am
Malaysian shares rally

Malaysian shares rally

Malaysian share prices rose 0.8 percent on Wednesday, taking the lead from firmer regional markets, dealers said. The Kuala Lumpur Composite Index rose 6.94 points to close at 879.63, with 232 advancing stocks outnumbering 144 decliners.
Published 29 Jan, 2009 12:00am
Seoul shares post biggest gain

Seoul shares post biggest gain

Seoul shares ended up 5.9 percent on Wednesday, posting their biggest daily percentage gain in seven weeks, as Samsung Electronics led tech shares higher and banks rallied after their US peers' gains overnight. Samsung Elec ended 10.52 percent higher, its
Published 29 Jan, 2009 12:00am
Nikkei edges up

Nikkei edges up

Japan's Nikkei stock average edged up 0.6 percent on Wednesday after a US stimulus plan was expanded, led by Tokyo Electron and other chip-related shares boosted after a rival filed for insolvency. Banks extended gains made the previous day when the gover
Published 29 Jan, 2009 12:00am
Jakarta shares tumble

Jakarta shares tumble

Indonesian shares closed 1.1 percent lower on Wednesday as tight liquidity forced investors to take profits, dealers said. The Jakarta Composite Index fell 15.18 points to 1,321.45 in thin trade. "I hope liquidity will ease if the central bank cuts intere
Published 29 Jan, 2009 12:00am
Canadian dollar weakens slightly

Canadian dollar weakens slightly

The Canadian dollar weakened slightly against the US currency on Tuesday, pressured by sagging oil and metal prices, while the federal government's budget had little impact on the currency. The weakness followed four straight sessions of gains against the
Published 29 Jan, 2009 12:00am
South Korean won extends gains

South Korean won extends gains

The South Korean won extended its gains against the dollar on Wednesday as hopes for additional economic stimulus packages at home and abroad boosted appetite for the country's assets including Seoul shares. The won found further support as investors rema
Published 29 Jan, 2009 12:00am
Swiss franc up versus dollar

Swiss franc up versus dollar

The Swiss franc rose against the dollar on Wednesday as market participants waited to see the outcome of a Federal Reserve meeting expected later today. The franc rose 0.6 percent against the dollar compared to the New York close, trading at 1.1344 per do
Published 29 Jan, 2009 12:00am
Dollar rises versus yen

Dollar rises versus yen

The dollar edged up against the yen on Wednesday as an improved appetite for risk prompted investors to dump the safe-haven Japanese currency, while the dollar dipped versus the euro as players awaited the outcome of a Federal Reserve meeting.
Published 29 Jan, 2009 12:00am
Dollar little changed

Dollar little changed

The dollar was little changed against a basket of currencies on Tuesday as traders awaited the end of a Federal Reserve meeting at which the central bank may announce new efforts to thaw frozen credit markets. US and European stocks edged up but sentiment
Published 29 Jan, 2009 12:00am
Australian dollar nudges up

Australian dollar nudges up

The Australian dollar made modest gains on Wednesday with all eyes on the US Federal Reserve's rate-setting committee, which is widely expected to provide further stimulus to the struggling economy and financial markets. The Fed is likely to focus on quan
Published 29 Jan, 2009 12:00am
Most Asian currencies rise

Most Asian currencies rise

Most Asian currencies rose on Wednesday as foreign investors flocked into the region's stock markets in anticipation of fresh steps by the Federal Reserve to stimulate the world's largest economy. The South Korean won rose as far as 1,377.9 per dollar, up
Published 29 Jan, 2009 12:00am
New Zealand dollar steady

New Zealand dollar steady

The New Zealand dollar was little changed on Wednesday as investors braced for a hefty interest rate cut by the central bank the next day to shore up the recession-hit domestic economy. The kiwi settled around $0.5300/06 compared with $0.5297/03 late in l
Published 29 Jan, 2009 12:00am
Dhoni, Gambhir upstage Jayasuriya with victory

Dhoni, Gambhir upstage Jayasuriya with victory

Mahendra Singh Dhoni and Gautam Gambhir cracked half-centuries to upstage Sri Lanka's Sanath Jayasuriya as India posted a six-wicket win in the opening one-dayer here on Wednesday. Opener Gambhir made 62 and skipper Dhoni an unbeaten 61 to help India achi
Published 29 Jan, 2009 12:00am
Younus wants support of team-mates

Younus wants support of team-mates

New Pakistan captain Younus Khan on Wednesday pleaded for support from all his players, warning he has no magic wand to turn around the team's fortunes after a humiliating defeat to Sri Lanka. The Pakistan Cricket Board (PCB) on Tuesday replaced Shoaib Ma
Published 29 Jan, 2009 12:00am
Minister announces astroturf hockey stadium in Kohat

Minister announces astroturf hockey stadium in Kohat

The NWFP Minister for Sports, Culture and Tourism Syed Aqil Shah has announced the establishment of astroturf hockey stadium at Kohat in the next financial year. He made announcement during a meeting with a delegation of District Kohat Hockey Association
Published 29 Jan, 2009 12:00am
Robinho arrested in sex assault probe

Robinho arrested in sex assault probe

Manchester City and Brazil striker Robinho has been arrested and bailed over allegations of a serious sexual assault in a British night-club, police said Wednesday. A spokesman for 25-year-old Robinho, Britain's most expensive player, confirmed he had bee
Published 29 Jan, 2009 12:00am
Javed Miandad quits PCB's directorship

Javed Miandad quits PCB's directorship

Pakistan Cricket Board (PCB) Director General and former team captain Javed Miandad has on Wednesday announced that he resigns as PCB DG as he was not given complete control and was restricted only to domestic cricket.
Published 29 Jan, 2009 12:00am
Nadal, Serena spearhead push to semi-finals

Nadal, Serena spearhead push to semi-finals

Rafael Nadal booked an all-Spanish Australian Open semi-final against Fernando Verdasco on Wednesday as Serena Williams clawed back from a set down in searing heat to keep her dreams alive. The world number one fought off a determined rear-guard action by
Published 29 Jan, 2009 12:00am
UN aid extends to 900,000 Gazans

UN aid extends to 900,000 Gazans

UN food aid is now being distributed to 900,000 Palestinians in the Gaza Strip in the aftermath of Israel's devastating military offensive in the territory, an official said on Wednesday. "We have increased the numbers on our food distribution to 900,000
Published 29 Jan, 2009 12:00am
Raul Castro on milestone Russia visit

Raul Castro on milestone Russia visit

Cuban President Raul Castro on Wednesday arrived in Russia aiming to revive Soviet-era ties on the first visit by a Cuban leader since the Cold War. The visit comes as both countries watch for change in the foreign policy of the United States, which came
Published 29 Jan, 2009 12:00am
Tamil Tigers' British chief faces terror charges

Tamil Tigers' British chief faces terror charges

The chief of the Tamil Tiger rebels in Britain helped supply military equipment to the Sri Lankan separatist group, a London court heard Wednesday. Prosecutors alleged that 52-year-old Arunachalam Chrishanthakumar, also known as AC Shanthan, led the acqui
Published 29 Jan, 2009 12:00am
At least 100 LRA victims found: UN

At least 100 LRA victims found: UN

At least 100 bodies of people killed by Ugandan Lord's Resistance Army (LRA) rebels have been discovered in north-eastern Democratic Republic of Congo, the UN mission said Wednesday. The victims are believed to have been killed in an attack by LRA rebels
Published 29 Jan, 2009 12:00am
France summons Israeli ambassador over warning shots

France summons Israeli ambassador over warning shots

France on Wednesday summoned Israel's ambassador after Israeli troops fired warning shots as European diplomats were blocked at a Gaza border crossing. Israeli troops halted a diplomatic convoy carrying France's consul general at the Erez crossing on Tues
Published 29 Jan, 2009 12:00am
Egypt attacks Iran and allies in Arab world

Egypt attacks Iran and allies in Arab world

Egypt aired its grievances against Iran, the Palestinian Islamist movement Hamas and the Lebanese Shia group Hezbollah, saying they worked together in the fighting over Gaza to provoke conflict in the Middle East.
Published 29 Jan, 2009 12:00am
Former child soldier testifies in war crimes trial

Former child soldier testifies in war crimes trial

A former child soldier testified at a war crimes trial here Wednesday how he was recruited into a militia led by former DR Congo warlord Thomas Lubanga as he was going home from school. "I was very young and so I cannot remember the date," the boy told th
Published 29 Jan, 2009 12:00am
Iceland to appoint gay woman as interim Prime Minister

Iceland to appoint gay woman as interim Prime Minister

The woman expected to become Iceland's interim prime minister is an openly gay former flight attendant who rose through the political ranks to lead a new leftist government. Johanna Sigurdardottir, the island nation's 66-year-old social affairs minister,
Published 29 Jan, 2009 12:00am
France to withdraw 1,900 troops from Africa

France to withdraw 1,900 troops from Africa

France plans to withdraw 1,900 of its soldiers from the African nations of Chad and Ivory Coast to reduce its foreign troop deployment, Prime Minister Francois Fillon announced Wednesday. At least 1,000 soldiers of France's 1,650-strong mission to protect
Published 29 Jan, 2009 12:00am
Ten Afghan workers abducted, two UN staff freed

Ten Afghan workers abducted, two UN staff freed

Gunmen abducted 10 Afghan workers in a daring ambush while two local UN staff kidnapped by alleged Taliban militants nearly a month ago were freed, government officials said Wednesday. The abductors raided a private construction company site in Afghanista
Published 29 Jan, 2009 12:00am
Cholera kills 3,000 amid doubts on Zimbabwe deal

Cholera kills 3,000 amid doubts on Zimbabwe deal

Zimbabwe's worsening cholera epidemic has killed more than 3,000 people, the United Nations said Wednesday, as the main opposition cast new doubts on a power-sharing deal. The cholera outbreak in Zimbabwe has become the worst seen in the world in 14 years
Published 29 Jan, 2009 12:00am
Madagascar opposition rallies, deaths mount

Madagascar opposition rallies, deaths mount

Tens of thousands of opposition supporters protested against the president in Madagascar's capital on Wednesday, two days after an earlier rally descended into violence that killed nearly 40 people. Witnesses in Antananarivo's main square, May 13 Plaza, e
Published 29 Jan, 2009 12:00am
Venezuela dismisses expulsion of envoy to Israel

Venezuela dismisses expulsion of envoy to Israel

Venezuela's government is dismissing accusations of anti-Semitism and calling the expulsion of its envoy to Israel an `honour.'' Foreign Minister Nicolas Maduro has told the Arab news network Al-Jazeera that Israel's response is`weak'' and ``late.'' Ve
Published 29 Jan, 2009 12:00am
Myanmar faces food crisis because of cyclone: UN

Myanmar faces food crisis because of cyclone: UN

Myanmar faces food shortages in many parts of the country, largely because of last year's cyclone and a rat infestation that destroyed crops, according to a UN report released Wednesday. About 185,000 tons of emergency food aid will be needed this year th
Published 29 Jan, 2009 12:00am
Iran to be invited to EU talks on Afghanistan

Iran to be invited to EU talks on Afghanistan

Iran will be invited to talks preparing for a spring meeting between the EU and Asian nations that will focus on Afghanistan, the bloc's external relations commissioner said here Wednesday. "We will invite Iran at the preparatory conference," EU External
Published 29 Jan, 2009 12:00am
Seafood safety: scientists replicate deadly toxin

Seafood safety: scientists replicate deadly toxin

Scientists have for the first time replicated an elusive seafood toxin found in shellfish and certain algae that can cause illness and even death, according to a study released on Wednesday. The achievement opens the way to tests to detect the poison and
Published 29 Jan, 2009 12:00am
Iraqis vote in first stage of provincial poll

Iraqis vote in first stage of provincial poll

Polling stations were open across Iraq on Wednesday amid tight security for the first stage of a landmark provincial election, the nation's first ballot since 2005. The advance voting started ahead of Saturday's main polling day to try to avoid the securi
Published 29 Jan, 2009 12:00am
Russia offers Obama olive branch on missiles

Russia offers Obama olive branch on missiles

Russia has halted plans to deploy missiles near the Polish border, a Russian news agency quoted the military as saying on Wednesday, in what could be a sign Moscow is seeking better ties with the new US president.
Published 29 Jan, 2009 12:00am
Japan readies to join Somalia anti-piracy patrols

Japan readies to join Somalia anti-piracy patrols

Japan ordered its navy on Wednesday to prepare for deployment off Somalia after months of agonising about how to join international anti-piracy patrols there without breaching its pacifist constitution.
Published 29 Jan, 2009 12:00am
Obama must apologise for crimes against Iran, says Ahmadinejad

Obama must apologise for crimes against Iran, says Ahmadinejad

Iranian President Mahmoud Ahmadinejad demanded on Wednesday that President Barack Obama apologise for past US "crimes" against the Islamic republic, after the new US leader extended a hand of diplomacy to Tehran. The firebrand Iranian leader also called o
Published 29 Jan, 2009 12:00am
250-300 civilians dead in Sri Lanka war

250-300 civilians dead in Sri Lanka war

A government health official said Wednesday that witnesses reported 250 to 300 civilians were killed in fighting over the past week in northern Sri Lanka and said hospital records showed that more than 1,100 were wounded. The report came as the government
Published 29 Jan, 2009 12:00am
China casts late Tibetan monk as ally against unrest

China casts late Tibetan monk as ally against unrest

China is marking 20 years since the death of the second-most senior figure in Tibetan Buddhism by lauding him as an enemy of separatism in the restive region as it enters a year laden with tense anniversaries.
Published 29 Jan, 2009 12:00am
IAEA chief snubs BBC over Gaza charity appeal

IAEA chief snubs BBC over Gaza charity appeal

The head of the UN atomic watchdog, Mohamed ElBaradei, has cancelled planned interviews with the BBC in protest at the British broadcaster's refusal to air a Gaza charity appeal, the IAEA said Wednesday.
Published 29 Jan, 2009 12:00am
Britain names new top cop after political row

Britain names new top cop after political row

Britain appointed its new top policeman on Wednesday, naming Sir Paul Stephenson as head of London's Metropolitan Police after his predecessor was forced to quit over a political row. Stephenson, 55, has responsibility for fighting terrorism nationally, h
Published 29 Jan, 2009 12:00am
Senate votes for first African-American nominee

Senate votes for first African-American nominee

Eric Holder's nomination as the first African-American US attorney general moved to the full Senate on Wednesday with broad bipartisan support, as Republicans who earlier criticised the nominee determined he was well qualified for the job. The Senate Judi
Published 29 Jan, 2009 12:00am
EU unveils climate change blueprint

EU unveils climate change blueprint

The European Commission Wednesday called for 30 percent cuts in greenhouse gases for developed countries along with other steps it hopes will provide a blueprint for global talks in Copenhagen. The EU executive also proposed 15-30 percent cuts from all bu
Published 29 Jan, 2009 12:00am
Wednesday's midday trade: US stocks move higher

Wednesday's midday trade: US stocks move higher

US stocks rose on Wednesday as bank stocks surged on optimism the Obama administration was making progress on a plan to remove money-losing assets from banks' books. Financial stocks were a standout, with J.P. Morgan leading the Dow with an 8 percent gain
Published 29 Jan, 2009 12:00am
Indian shares gain 2.81 percent

Indian shares gain 2.81 percent

Indian shares rose 2.81 percent on Wednesday on fresh buying in index heavyweights after US stocks extended gains on better-than-expected earnings news, dealers said. The benchmark 30-share Sensex index rose 253.39 points to 9,257.47. Investors will look
Published 29 Jan, 2009 12:00am
European credit indices tighten

European credit indices tighten

European credit indices moved tighter on Wednesday as stock markets rallied, while bond sales from the likes of Nokia, Accor and KPN took investment-grade supply over 40 billion euros ($52.9 billion) so far this month. By 1538 GMT, the investment-grade Ma
Published 29 Jan, 2009 12:00am
European credit indices tighten

European credit indices tighten

European credit indices moved tighter on Wednesday as stock markets rallied, while bond sales from the likes of Nokia, Accor and KPN took investment-grade supply over 40 billion euros ($52.9 billion) so far this month. By 1538 GMT, the investment-grade Ma
Published 29 Jan, 2009 12:00am
UK's top share index rises

UK's top share index rises

Britain's top share index ended 2.4 percent higher on Wednesday, with Lloyds rocketing and other embattled banks extending their rally to a third day as fears that they will be nationalised ebbed. Lloyds Banking Group soared more than 50 percent, battling
Published 29 Jan, 2009 12:00am
Sterling hits one-week high

Sterling hits one-week high

Sterling rose to one-week highs against the dollar and yen on Wednesday as a third day of gains on world stock markets signalled investor tensions easing, offering some optimism to the battered currency.
Published 29 Jan, 2009 12:00am
Three-month dollar Libor rates fall

Three-month dollar Libor rates fall

The interbank cost of borrowing dollars for three months fell, snapping five days of increases, as money markets hoped that a Federal Reserve statement on Wednesday would offer more evidence that the Fed was trying to ease financial market strains and hel
Published 29 Jan, 2009 12:00am
Yen and dollar fall broadly in London

Yen and dollar fall broadly in London

The dollar and yen fell broadly on Wednesday, with rallying world share prices reflecting a cooling of risk aversion as investors turned their attention to the US Federal Reserve's policy meeting later in the day. Positive earnings on Wall Street the prev
Published 29 Jan, 2009 12:00am
Indian rupee flat

Indian rupee flat

The Indian rupee closed almost steady on Wednesday as demand for dollars from importers to meet month-end bills offset a second day of gains in domestic shares, which had eased concerns over capital outflows. The partially convertible rupee closed at 48.9
Published 29 Jan, 2009 12:00am
Minister briefed about POF production capabilities

Minister briefed about POF production capabilities

Minister of State for Defence Production Sardar Saleem Haider alongwith MPA Malik Khurram and DG Task Force Ghulam Qadir Jamot visited Pakistan Ordnance Factories (POF) here on Wednesday. Chairman POF Board Lieutenant General Syed Sabahat Husain received
Published 29 Jan, 2009 12:00am
Shell Eco-marathon to be held in May

Shell Eco-marathon to be held in May

Shell Pakistan on Wednesday announced that Shell International would be holding the annual Shell Eco-marathon Europe in Germany in May 2009, and that a total of four student teams would be participating from Pakistani colleges in this Global Competition f
Published 29 Jan, 2009 12:00am
Call for early release of fishermen

Call for early release of fishermen

Haunted elders of the arrested fishermen by the Indian Maritime Security Agency on Wednesday clamour for their immediate release, saying Pakistani law enforcers instead of helping are forcing them to keep the issue on low profile.
Published 29 Jan, 2009 12:00am
Transfers & postings

Transfers & postings

The Federal government has placed Fiaz Ahmed, a grade-19 official of the Police Group at the disposal of government of Punjab. According to a notification of the Establishment Division issued on Wednesday, Abid Mahmood, a grade 18 official of Ministry of
Published 29 Jan, 2009 12:00am
Deferring loan payments: SBP decision hailed

Deferring loan payments: SBP decision hailed

President Karachi Chamber of Commerce and Industry (KCCI), Anjum Nisar has appreciated the announcement for deferring payments of loans for one-year to exporters by State Bank of Pakistan (SBP)
Published 29 Jan, 2009 12:00am
FBR issues amended customs general order

FBR issues amended customs general order

The depreciation in the assessable value, for assessment of duties/taxes on the import of second hand vehicles, would be allowed at the rate of 1% per month, calculated from the date of first registration of vehicle abroad upto the date of its entry into
Published 29 Jan, 2009 12:00am
FPCCI vice president election suspended

FPCCI vice president election suspended

The election of Vice-President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) from Balochistan, which was to take place on January 30, has been suspended till further orders by Additional District Judge, Quetta.
Published 29 Jan, 2009 12:00am
New York cotton futures marginally down

New York cotton futures marginally down

Cotton futures finished marginally easier Wednesday on investor sales, but the market is holding well after pulling back from a four-month top and could grind higher in the coming sessions, brokers said. The key March cotton contract fell 0.28 cent to clo
Published 29 Jan, 2009 12:00am
Base metals rally

Base metals rally

Prices of industrial metals rallied on Wednesday alongside equities, but analysts said tumbling demand and rising inventories would sap sentiment and come back to haunt the market. Copper rose nearly 4 percent to $3,437.50 a tonne, aluminium more than 5 p
Published 29 Jan, 2009 12:00am
Oil rises as Opec vows on supply curbs

Oil rises as Opec vows on supply curbs

Oil prices rose over a dollar on Wednesday after Opec vowed to follow through on its agreed record production cuts and US government data showed draws in gasoline and distillate inventories. US crude rose $1.34 a barrel to $42.92 by 1:35 pm EST (1835 GMT)
Published 29 Jan, 2009 12:00am
Sugar eases, cocoa firmer in London

Sugar eases, cocoa firmer in London

Sugar futures eased on Wednesday as profit-taking and producer selling emerged after the market's recent run-up stalled, while London cocoa was firmer and not far from this week's 24-year high, dealers said. London cocoa underperformed its New York equiva
Published 29 Jan, 2009 12:00am
Gold dips in Europe

Gold dips in Europe

Gold slipped on Wednesday as investors cashed in profits after the precious metal hit a three-month high earlier this week, with a recovery in stock markets indicating the beginnings of a revival in risk appetite.
Published 29 Jan, 2009 12:00am
US MIDDAY: cocoa up, coffee firms

US MIDDAY: cocoa up, coffee firms

US cocoa futures gained ground in early trade on Wednesday, but pared gains after hitting a five-month high amid a firm pound and supply concerns, while arabica coffee quietly reversed higher in rangebound dealings, traders said. Arabica coffee for March
Published 29 Jan, 2009 12:00am
US MIDDAY: sugar stumbles

US MIDDAY: sugar stumbles

Raw sugar futures on ICE Futures US at 1314 GMT. March raw sugar contract fell 0.11 cent to 12.80 cents per lb. Trading from 12.60 to 12.82 cents. Volume at 8,440 lots.
Published 29 Jan, 2009 12:00am
US MIDDAY: soya, wheat rise

US MIDDAY: soya, wheat rise

Chicago Board of Trade soyabeans, wheat and corn rose by late morning Wednesday on a technical bounce after a lacklustre start to the session, traders said.
Published 29 Jan, 2009 12:00am
US MIDDAY: copper gains

US MIDDAY: copper gains

US copper futures rose more than 4 percent Wednesday morning as a weak dollar and firmer equities enabled prices to stabilise from recent volatility. Copper for March delivery firmed 4.80 cents, or 3.2 percent, to $1.5325 a lb by 10:18 am EST (1518 GMT) o
Published 29 Jan, 2009 12:00am
US MIDDAY: gold lower

US MIDDAY: gold lower

US gold futures cut initial losses but still traded lower on Wednesday as liquidation pressure related to option expirations and contract rollover offset a weaker dollar against the euro and rising investment demand. Gold for February delivery was down $6
Published 29 Jan, 2009 12:00am
SAB to finalise raw sugar import mechanism today

SAB to finalise raw sugar import mechanism today

The Ministry of Industries and Production has convened a meeting of Sugar Advisory Board (SAB) on Thursday to finalise mechanism for import of raw sugar, and imposition of duty on export of cane molasses, official sources told Business Recorder.
Published 29 Jan, 2009 12:00am
Dubai Islamic Bank, Pak-Suzuki sign MoU

Dubai Islamic Bank, Pak-Suzuki sign MoU

Dubai Islamic Bank Pakistan Limited (DIBPL) signed a Memorandum of Understanding (MOU) with Pak-Suzuki Motor Company to become the first Islamic banking partner of the Suzuki Auto Finance Arrangement Programme.
Published 29 Jan, 2009 12:00am
13 SHOs suspended in Karachi

13 SHOs suspended in Karachi

As many as 13 Station House Officers including 8 of Karachi Police Station and the rest from Interior of Sindh were today placed under suspension with immediate effect and a departmental inquiry ordered against them. They all were suspended on charges of
Published 29 Jan, 2009 12:00am
Proposal to release wheat to mills at Rs 950/40-kg considered

Proposal to release wheat to mills at Rs 950/40-kg considered

A high-level committee on agriculture for implementation of the Cabinet decisions on Wednesday considered a proposal to release wheat in coming season to flourmills at Rs 950 per 40-kg. A meeting of the committee was held in the Ministry of Food and Agric
Published 29 Jan, 2009 12:00am
Agriculture irrigation equipment zero-rated for sales tax

Agriculture irrigation equipment zero-rated for sales tax

The Federal Board of Revenue (FBR) has zero-rated sales tax on local supply of certain types of irrigation, drainage and agro-chemical application equipment, ie sprinkler equipment, drip irrigation equipment, spray pumps and nozzles. The FBR has amended S
Published 29 Jan, 2009 12:00am
Agriculture irrigation equipment zero-rated for sales tax

Agriculture irrigation equipment zero-rated for sales tax

The Federal Board of Revenue (FBR) has zero-rated sales tax on local supply of certain types of irrigation, drainage and agro-chemical application equipment, ie sprinkler equipment, drip irrigation equipment, spray pumps and nozzles. The FBR has amended S
Published 29 Jan, 2009 12:00am
Agriculture irrigation equipment zero-rated for sales tax

Agriculture irrigation equipment zero-rated for sales tax

The Federal Board of Revenue (FBR) has zero-rated sales tax on local supply of certain types of irrigation, drainage and agro-chemical application equipment, ie sprinkler equipment, drip irrigation equipment, spray pumps and nozzles. The FBR has amended S
Published 29 Jan, 2009 12:00am
Agriculture irrigation equipment zero-rated for sales tax

Agriculture irrigation equipment zero-rated for sales tax

The Federal Board of Revenue (FBR) has zero-rated sales tax on local supply of certain types of irrigation, drainage and agro-chemical application equipment, ie sprinkler equipment, drip irrigation equipment, spray pumps and nozzles. The FBR has amended S
Published 29 Jan, 2009 12:00am
Ministers' portfolios notified

Ministers' portfolios notified

The cabinet division on Wednesday formally issued notification of the portfolios assigned to the four newly inducted ministers. According to the notification, MQM Minister Babar Khan Ghuri was assigned Ministry of Port and Shipping, which he held in the p
Published 29 Jan, 2009 12:00am
US help sought to resolve Kashmir dispute

US help sought to resolve Kashmir dispute

Lee Hamilton, a veteran Democratic leader and vice chairman of the 9/11 commission, has called for United States' support for resolution of the longstanding Jammu and Kashmir dispute and also favoured assisting Pakistan's effort against al Qaeda along the
Published 29 Jan, 2009 12:00am
Export of food products increases by 68 percent

Export of food products increases by 68 percent

Exports of food products witnessed increase of over 68 percent during the first half of the current financial year as against the corresponding period of the last year. Pakistan exported food commodities worth $1.64 billion during July-December (2008-09)
Published 29 Jan, 2009 12:00am
Punjab Assembly session

Punjab Assembly session

Punjab Assembly (PA) Secretariat has sent the summery of holding of its session on February 2, 2009. The summary has been approved by the Chief Minister and was waiting the approval of the Governor, Business Recorder learnt this on Wednesday.
Published 29 Jan, 2009 12:00am
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