News Archives for Print - 2009-02-26

Interest rates on old and incremental FCY deposits

Interest rates on old and incremental FCY deposits on Wednesday (February 25, 2009).

Published 26 Feb, 2009 12:00am

Obama vows new comprehensive Pak-Afghan policy

US President Barack Obama on Tuesday vowed to forge a new comprehensive policy towards Pakistan and Afghanistan to curb violent extremism in the region, considered vital to American security interests.

Published 26 Feb, 2009 12:00am

LIBOR calculating interest on US dollar

London Interbank Offer Rates on for calculating interest on special US dollar on Wednesday (February 25, 2009).

Published 26 Feb, 2009 12:00am

Obama vows new comprehensive Pak-Afghan policy

US President Barack Obama on Tuesday vowed to forge a new comprehensive policy towards Pakistan and Afghanistan to curb violent extremism in the region, considered vital to American security interests.

Published 26 Feb, 2009 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 (February 25, 2009).

Published 26 Feb, 2009 12:00am

Iran tests first nuclear plant

Iran test its long-delayed first nuclear power plant on Wednesday as it presses ahead with its controversial atomic drive despite international sanctions. The head of Iran's Atomic Energy Organisation Gholam Reza Aghazdeh said the plant in the Gulf port o

Published 26 Feb, 2009 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 (February 25, 2009).

Published 26 Feb, 2009 12:00am

Iran tests first nuclear plant

Iran test its long-delayed first nuclear power plant on Wednesday as it presses ahead with its controversial atomic drive despite international sanctions. The head of Iran's Atomic Energy Organisation Gholam Reza Aghazdeh said the plant in the Gulf port o

Published 26 Feb, 2009 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (February 25, 2009).

Published 26 Feb, 2009 12:00am

1st Rabi-ul-Awal on February 27

As the moon for Rabi-ul-Awal was not sighted anywhere in country on Wednesday the holy month would commence on February 27. Quoting the Hilal Committee sources private television channels reported that the 12th of Rabi-ul-Awal would fall on Tuesday, March

Published 26 Feb, 2009 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 26 Feb, 2009 12:00am

1st Rabi-ul-Awal on February 27

As the moon for Rabi-ul-Awal was not sighted anywhere in country on Wednesday the holy month would commence on February 27. Quoting the Hilal Committee sources private television channels reported that the 12th of Rabi-ul-Awal would fall on Tuesday, March

Published 26 Feb, 2009 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 26 Feb, 2009 12:00am

33 killed as bus falls into river in IHK

At least 33 people were killed and 19 others injured in a bus accident in Doda district on Wednesday, in occupied Kashmir. The accident took place when the bus skidded off the road and fell into Neeru nullah, at Galgandhar in the district. The bus was on

Published 26 Feb, 2009 12:00am

Karachi interbank rates

Karachi interbank rates on Wednesday (February 25, 2009).

Published 26 Feb, 2009 12:00am

33 killed as bus falls into river in IHK

At least 33 people were killed and 19 others injured in a bus accident in Doda district on Wednesday, in occupied Kashmir. The accident took place when the bus skidded off the road and fell into Neeru nullah, at Galgandhar in the district. The bus was on

Published 26 Feb, 2009 12:00am

New York cotton

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

Published 26 Feb, 2009 12:00am

India files charges against Mumbai terrorist suspects

Indian police on Wednesday filed charges against the lone surviving gunman in the Mumbai terrorist attack of November, paving the way for a trial. Public prosecutor Ujjwal Nikam filed the charge sheet to the court of a metropolitan magistrate in Mumbai, t

Published 26 Feb, 2009 12:00am

New York cotton

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

Published 26 Feb, 2009 12:00am

India files charges against Mumbai terrorist suspects

Indian police on Wednesday filed charges against the lone surviving gunman in the Mumbai terrorist attack of November, paving the way for a trial. Public prosecutor Ujjwal Nikam filed the charge sheet to the court of a metropolitan magistrate in Mumbai, t

Published 26 Feb, 2009 12:00am

Aaj TV - Thursday's schedule

All timings are in PST (Pakistan Standard Time).

Published 26 Feb, 2009 12:00am

Construction of Suki Kinari hydro project: NWFP minister expresses reservations

NWFP Minister for Information and Inter-Provincial Co-ordination, Mian Iftikhar Hussain, has expressed reservations over the construction of Suki Kinari Hydro-Power Project Kaghan in District Mansehra. In a statement here on Wednesday, he termed the const

Published 26 Feb, 2009 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 118,478 tonnes of cargo including 82,333 tonnes of import and 36,145 tonnes of export, 5,285 loaded and empty containers (TEUs) during last 24 hours ending at 0700 hours on Wednesday. The freights comprised of 84,106 tonnes of dry

Published 26 Feb, 2009 12:00am

Linking of Baitul Mal, BISP with Nadra ordered

President Asif Ali Zardari on Wednesday asked the government institutions including Baitul Maal and Benazir Income Support Programme (BISP) to be immediately linked with Nadra verification process to enable poor families particularly in tribal areas and S

Published 26 Feb, 2009 12:00am

US wheat futures end higher

US wheat futures ended higher on Tuesday on a bounce in the stock market following's Monday fall to levels not seen in over a decade. CBOT March wheat closed up 4-3/4 cents at $5.15-1/4 per bushel and KCBT March was up 5 at $5.53-1/4. Syria buys 200,000 t

Published 26 Feb, 2009 12:00am

Three dead in Bangladesh armed mutiny

Bangladesh border guards launched a dramatic armed mutiny on Wednesday, taking officers hostage and sparking a fierce gunbattle in the capital that left at least three dead and 21 people wounded.

Published 26 Feb, 2009 12:00am

KCBT wheat futures higher

Kansas City Board of Trade hard red winter wheat futures ended higher Tuesday, rebounding from an early slide on strength from financials and a protective bounce amid winter wheat condition concerns. The KCBT March settled up 5 cents at $5.53-1/4 per bush

Published 26 Feb, 2009 12:00am

Three dead in Bangladesh armed mutiny

Bangladesh border guards launched a dramatic armed mutiny on Wednesday, taking officers hostage and sparking a fierce gunbattle in the capital that left at least three dead and 21 people wounded.

Published 26 Feb, 2009 12:00am

Italian 11-month wheat and maize imports fall

Wheat imports into Italy, a major grain buyer in Europe, fell 15 percent year-on-year in the first 11 months of 2008 and imports of maize dropped 12 percent in the same period, Italian cereals body Anacer said on Tuesday. Imports of soft wheat, which acco

Published 26 Feb, 2009 12:00am

Chinese firms in Berlin to spend billions: trade body

A delegation of over 200 Chinese companies kicked off a European shopping spree by negotiating contracts worth billions of euros (dollars) with German firms in Berlin, a trade body said Wednesday. The group, accompanied by Chinese Commerce Minister Chen D

Published 26 Feb, 2009 12:00am

US Midwest corn and soya bids firmer

US Midwest spot corn and soyabean basis bids were steady to firmer Wednesday as some dealers increased their basis to entice farmers to sell, but country movement remained mostly sluggish, dealers said. Dealers have reported light, scattered farmer sellin

Published 26 Feb, 2009 12:00am

Dubai government to use bond proceeds to help firms

Dubai's government said on Wednesday $10 billion in bond proceeds from the UAE central bank would be enough for now to help the emirate's companies pay off debts and restructure to deal with a real estate slump. The Gulf Arab trade and tourism hub is read

Published 26 Feb, 2009 12:00am

OB Gulf corn, soyabean export premiums steady

US corn and soyabean export premiums at the Gulf of Mexico held mostly steady on Tuesday, while wheat supplies for nearby shipment remained tight, traders said. Talk that China was back in the market for soyabeans but buying mainly cargoes from Brazil for

Published 26 Feb, 2009 12:00am

Dubai government to use bond proceeds to help firms

Dubai's government said on Wednesday $10 billion in bond proceeds from the UAE central bank would be enough for now to help the emirate's companies pay off debts and restructure to deal with a real estate slump. The Gulf Arab trade and tourism hub is read

Published 26 Feb, 2009 12:00am

China's SRB buys 100,000 tonnes of zinc from smelters

China's State Reserves Bureau bought 100,000 tonnes of refined zinc on Wednesday, smelter sources said, a move that may boost domestic prices in the short run but make only a small dent on the global glut of the metal. The SRB, which builds and manages co

Published 26 Feb, 2009 12:00am

ISE index down 69.89 points

Equities witnessed broad-based erosion at the Islamabad Stock Exchange (ISE) where fresh bearish assault moved the entire ready board in downward direction amid decrease in index. ISE Ten Index showed a decrease of 69.89 points, as the index moved from 1,

Published 26 Feb, 2009 12:00am

KCA spot rate slashed by Rs 25 to Rs 3,325 on cotton market

The KCA spot rate was reduced by Rs 25 to Rs 3325 on Wednesday as the spinners and mills were not much active on cotton market; dealers said. The phutti prices both in Sindh and Punjab remain unchanged at Rs 1600-1700. In ready business cotton was sold at

Published 26 Feb, 2009 12:00am

ISE index down 69.89 points

Equities witnessed broad-based erosion at the Islamabad Stock Exchange (ISE) where fresh bearish assault moved the entire ready board in downward direction amid decrease in index. ISE Ten Index showed a decrease of 69.89 points, as the index moved from 1,

Published 26 Feb, 2009 12:00am

Chemical items mixed on Jodia Bazaar

The trading in chemicals items moved both ways on Jodia Bazaar here on Wednesday. The following changes were noted.

Published 26 Feb, 2009 12:00am

LSE index falls by 88.54 points

The bullish rally turned into bearish on Wednesday on the Lahore Stock Exchange on account of the Supreme Court of Pakistan's verdict that disqualified Sharif brothers and the equities registered losses across the board amid reduced transaction volume.

Published 26 Feb, 2009 12:00am

Mixed trend seen on grain market

The changes were few and far on grain and seed market on Wednesday dealers said. On the cereal side masoor Canada low quality was up by Rs 300 at 7800 while the better type remained unchanged. Masoor dal Canada low type was higher by Rs 400 at Rs 9200 and

Published 26 Feb, 2009 12:00am

LSE index falls by 88.54 points

The bullish rally turned into bearish on Wednesday on the Lahore Stock Exchange on account of the Supreme Court of Pakistan's verdict that disqualified Sharif brothers and the equities registered losses across the board amid reduced transaction volume.

Published 26 Feb, 2009 12:00am

Malaysia tin slides

Malaysian tin dipped 0.9 percent on Wednesday due to heavy supply, bucking a rise on the London Metal Exchange prices, one dealer said.

Published 26 Feb, 2009 12:00am

IMF scales down growth rate to 2.5 percent: everything went well, says Tarin

IMF has scaled down Pakistan''s growth rate at 2.5 percent and tax revenue at Rs 1300 billion, Shaukat Tarin told Business Recorder on Wednesday on concluding his discussions with IMF. "We were hoping to take more time, but everything went well, an

Published 26 Feb, 2009 12:00am

Indian sugar futures rise

Indian sugar futures rose on Wednesday afternoon as a lower output forecast for the 2008-09 crop year triggered some buying that outweighed concerns over the government's decision to impose stock limits. At 2:12 pm (0842 GMT), the March contract on the Na

Published 26 Feb, 2009 12:00am

IMF scales down growth rate to 2.5 percent: everything went well, says Tarin

IMF has scaled down Pakistan's growth rate at 2.5 percent and tax revenue at Rs 1300 billion, Shaukat Tarin told Business Recorder on Wednesday on concluding his discussions with IMF. "We were hoping to take more time, but everything went well, and

Published 26 Feb, 2009 12:00am

US copper rises

US copper futures rose to a one-week high on Tuesday, gaining momentum from a sharp rebound on Wall Street, but further upside seemed unlikely due to bleak economic conditions and a grim demand outlook, brokers said. Copper for March delivery firmed 5.00

Published 26 Feb, 2009 12:00am

IMF scales down growth rate to 2.5 percent: everything went well, says Tarin

IMF has scaled down Pakistan's growth rate at 2.5 percent and tax revenue at Rs 1300 billion, Shaukat Tarin told Business Recorder on Wednesday on concluding his discussions with IMF. "We were hoping to take more time, but everything went well, and

Published 26 Feb, 2009 12:00am

Shanghai copper chases LME potsts

Shanghai copper futures rallied 3.6 percent on Wednesday, chasing overnight gains in London, with markets soothed by cautiously positive comments by US leaders. Shanghai copper for delivery in May closed at 27,500 yuan a tonne, having earlier rallied by i

Published 26 Feb, 2009 12:00am

BRIndex30 down 296.18 points

On Wednesday, the BRIndex30 opened in the green zone at 5,364.73. It closed at 5,066.02 with a net negative change of -296.18 points, or -5.52 percent. It experienced intra-day high of 5,471.94 and low of 5,046.98 points. Volume was 101,896,400 shares, wh

Published 26 Feb, 2009 12:00am

US rice mixed

US rough rice futures on the Chicago Board of Trade ended mixed on Tuesday, with the nearby spread pressured by traders exiting March positions before futures deliveries begin on Friday, traders said. Underpinning rice was a higher close in other CBOT gra

Published 26 Feb, 2009 12:00am

BRIndex30 down 296.18 points

On Wednesday, the BRIndex30 opened in the green zone at 5,364.73. It closed at 5,066.02 with a net negative change of -296.18 points, or -5.52 percent. It experienced intra-day high of 5,471.94 and low of 5,046.98 points. Volume was 101,896,400 shares, wh

Published 26 Feb, 2009 12:00am

Tokyo rubber futures up

Key Tokyo rubber futures rose more than 2 percent on Wednesday, supported by a recovery in oil and share prices on assurances by Federal Reserve Chairman Ben Bernanke that the troubled banking sector would be protected. A fall in the yen to a three-month

Published 26 Feb, 2009 12:00am

Index plunges by five percent

The benchmark KSE-100 index plunged by 5.01 percent on Wednesday, due to panic selling after the Supreme Court''s decision to disqualify Sharif Brothers from contesting elections. The market participants, fearing agitation and political uncertainty in the

Published 26 Feb, 2009 12:00am

New York sugar higher

Raw sugar futures settled higher Tuesday on modest investor short-covering as players eyed expiration of the March contract by the end of the week, brokers said. The key May sugar contract gained 0.14 cent to close at 13.13 cents per lb. Dealing from 12.9

Published 26 Feb, 2009 12:00am

Index plunges by five percent

The benchmark KSE-100 index plunged by 5.01 percent on Wednesday, due to panic selling after the Supreme Court's decision to disqualify Sharif Brothers from contesting elections. The market participants, fearing agitation and political uncertainty in the

Published 26 Feb, 2009 12:00am

US soyabean futures gain

US soyabean futures on the Chicago Board of Trade ended higher on Tuesday, tracking the Dow industrials which snapped back from 12-year lows amid easing concerns about the nationalisation of big banks. Commodities look to equity markets for a gauge of the

Published 26 Feb, 2009 12:00am

Index plunges by five percent

The benchmark KSE-100 index plunged by 5.01 percent on Wednesday, due to panic selling after the Supreme Court's decision to disqualify Sharif Brothers from contesting elections. The market participants, fearing agitation and political uncertainty in the

Published 26 Feb, 2009 12:00am

Malaysia and Indonesia to cut rubber output further

Malaysia and Indonesia will further reduce rubber output by a combined 115,000 tonnes this year by replanting more rubber trees, government ministers from the two countries said on Wednesday. The additional measures come as rubber prices struggled to rise

Published 26 Feb, 2009 12:00am

TCP accused of violating Public Procurement Rules

Transparency International Pakistan (TIP) has accused Trading Corporation of Pakistan (TCP) of violating Public Procurement Rules, 2004 in hiring freight services, official sources told Business Recorder.

Published 26 Feb, 2009 12:00am

US gold ends down

US gold futures ended nearly 3 percent lower Tuesday on a combination of options-related selling and profit taking triggered by comments by Federal Reserve Chairman Ben Bernanke that inflation pressures had dramatically receded. Gold for April delivery se

Published 26 Feb, 2009 12:00am

TCP accused of violating Public Procurement Rules

Transparency International Pakistan (TIP) has accused Trading Corporation of Pakistan (TCP) of violating Public Procurement Rules, 2004 in hiring freight services, official sources told Business Recorder.

Published 26 Feb, 2009 12:00am

Gold eases below $960 in Asia

Gold crept down to hover below $960 on Wednesday after a bout of bargain hunting, triggered by the previous session's over 2 percent decline, ran out of steam. Traders said sentiment had turned slightly softer after the market's failure to breach an 11-mo

Published 26 Feb, 2009 12:00am

TCP accused of violating Public Procurement Rules

Transparency International Pakistan (TIP) has accused Trading Corporation of Pakistan (TCP) of violating Public Procurement Rules, 2004 in hiring freight services, official sources told Business Recorder.

Published 26 Feb, 2009 12:00am

Oil prices fall below $40 in Asia

Oil shed on Wednesday some of the previous session's 4 percent gains but held above $39, after President Obama balanced his message of hope for the US economy with a warning and ahead of data on US oil stocks. Obama told Congress the United States would e

Published 26 Feb, 2009 12:00am

Relief for spinning sector: SBP extends mark-up subsidy for one more year

The State Bank of Pakistan on Wednesday announced to extend the 3 percent mark-up subsidy for the spinning sector by one year to facilitate the textile sector. The textile sector is facing worst financial crisis due to the high mark-up on the back of tigh

Published 26 Feb, 2009 12:00am

Saudi ships first crude to China Fujian refinery

Saudi Arabia has sent its first cargo of crude to an upgraded refinery in China's south-eastern province of Fujian, the state oil firm Saudi Aramco said on Wednesday. The Fujian Refining and Petrochemical Co Ltd is a $5 billion joint venture between Sinop

Published 26 Feb, 2009 12:00am

Relief for spinning sector: SBP extends mark-up subsidy for one more year

The State Bank of Pakistan on Wednesday announced to extend the 3 percent mark-up subsidy for the spinning sector by one year to facilitate the textile sector. The textile sector is facing worst financial crisis due to the high mark-up on the back of tigh

Published 26 Feb, 2009 12:00am

Japan's recession worsens as exports collapse

Japan's recession woes deepened as a record plunge in exports added to fears Wednesday that Asia's largest economy is becoming one of the biggest victims of the global crisis. Japan's reliance on foreign markets to drive its recovery from a decade-long sl

Published 26 Feb, 2009 12:00am

Relief for spinning sector: SBP extends mark-up subsidy for one more year

The State Bank of Pakistan on Wednesday announced to extend the 3 percent mark-up subsidy for the spinning sector by one year to facilitate the textile sector. The textile sector is facing worst financial crisis due to the high mark-up on the back of tigh

Published 26 Feb, 2009 12:00am

Unpaid furloughs a trend for US white-collar jobs

US newspapers have done it. California police have too. Governments in California, New Jersey and Ohio say it will save the budget. Forcing workers to take unpaid time off is a new version of the American layoff. The involuntary furlough, once a staple of

Published 26 Feb, 2009 12:00am

Kayani calls on Gates

Pakistan's Chief of Army Staff (COAS) General Ashfaq Parvez Kayani, who is currently on an official visit to the United Sates of America, called on Secretary of Defence Robert Gates. According to ISPR here on Wednesday, the Army Chief discussed matters of

Published 26 Feb, 2009 12:00am

US to survive economic 'day of reckoning', says Obama

President Barack Obama sought to strike a delicate balance between hope and reality on Tuesday to reassure Americans mired in economic crisis that they would survive a "day of reckoning." Riding high in opinion polls as he delivered his first address to a

Published 26 Feb, 2009 12:00am

Kayani calls on Gates

Pakistan's Chief of Army Staff (COAS) General Ashfaq Parvez Kayani, who is currently on an official visit to the United Sates of America, called on Secretary of Defence Robert Gates. According to ISPR here on Wednesday, the Army Chief discussed matters of

Published 26 Feb, 2009 12:00am

Existing US home sales, prices drop

Sales of previously owned US homes plunged in January, reversing the previous month's surprise jump, and prices spiralled down to a six-year low as the deep recession and rising joblessness took its toll. A drop in number of unsold homes offered some hope

Published 26 Feb, 2009 12:00am

PC wants provinces to generate funds for uplift projects

The Planning Commission (PC) has proposed that provinces should generate funds from their own resources to complete the development projects as the Federal government is faced with severe financial constraints.

Published 26 Feb, 2009 12:00am

UK and banks push on to seal asset bail-out plan

Britain's Treasury and top banks were hammering out final details of a plan to limit lenders' losses on about 500 billion pounds ($728 billion) of risky assets, which the government said should help prevent full nationalisation. Britain has pledged to unv

Published 26 Feb, 2009 12:00am

PC wants provinces to generate funds for uplift projects

The Planning Commission (PC) has proposed that provinces should generate funds from their own resources to complete the development projects as the Federal government is faced with severe financial constraints.

Published 26 Feb, 2009 12:00am

British economy shrinks

The British economy shrank by 1.5 percent in the fourth quarter of 2008, confirming an initial estimate made last month that put Britain in recession, official data showed on Wednesday. The Office for National Statistics (ONS) said in a statement that gro

Published 26 Feb, 2009 12:00am

PC wants provinces to generate funds for uplift projects

The Planning Commission (PC) has proposed that provinces should generate funds from their own resources to complete the development projects as the Federal government is faced with severe financial constraints.

Published 26 Feb, 2009 12:00am

Export plunge leads record German GDP drop

A sharp drop in exports led to a record contraction of German gross domestic product (GDP) in the final quarter of 2008, and the slump looks likely to continue well into this year as a global downturn hits the trade-reliant economy. The Federal Statistics

Published 26 Feb, 2009 12:00am

Exports hostage to economic problems, liquidity crunch: Prime Minister briefed on Commerce Ministry woes

Commerce Ministry on Wednesday apprised Prime Minister Yousaf Raza Gilani that Pakistan''s exports were hostage to the economic problems, international image, liquidity crunch, and international recession, official sources told Business Recorder.

Published 26 Feb, 2009 12:00am

Report urges phased reform of EU financial oversight

The European Union should set up two bodies to co-ordinate oversight of financial institutions across Europe, according to a report on Wednesday which disappointed those seeking simpler structures with more teeth.

Published 26 Feb, 2009 12:00am

Exports hostage to economic problems, liquidity crunch: Prime Minister briefed on Commerce Ministry woes

Commerce Ministry on Wednesday apprised Prime Minister Yousaf Raza Gilani that Pakistan's exports were hostage to the economic problems, international image, liquidity crunch, and international recession, official sources told Business Recorder.

Published 26 Feb, 2009 12:00am

Indonesia approves $6.15 billion stimulus package

Indonesia's parliament has approved a six-billion-dollar stimulus package to protect Southeast Asia's largest economy from the worst of the global economic crisis, lawmakers said Wednesday. The parliamentary budget committee approved the plan worth 73.3 t

Published 26 Feb, 2009 12:00am

Exports hostage to economic problems, liquidity crunch: Prime Minister briefed on Commerce Ministry woes

Commerce Ministry on Wednesday apprised Prime Minister Yousaf Raza Gilani that Pakistan's exports were hostage to the economic problems, international image, liquidity crunch, and international recession, official sources told Business Recorder.

Published 26 Feb, 2009 12:00am

India okays entry of mobile virtual network operators

India will allow local and overseas firms to offer wireless telecoms services without owning networks or spectrum, the government said on Wednesday, accepting a recommendation from the telecoms regulator. Mobile virtual network operators (MVNOs) rent radi

Published 26 Feb, 2009 12:00am

We were offered bribe to accept PCO judiciary, claims Nawaz

Pakistan Muslim League-Nawaz leader Mian Nawaz Sharif on Wednesday aimed his guns towards President Asif Ali Zardari after disqualification and urged the nation to stand up for supremacy of law and independence of judiciary.

Published 26 Feb, 2009 12:00am

Trade deal would be 'global stimulus': WTO chief

A global agreement to free up trade would be a "global stimulus" amid the world-wide economic slump, World Trade Organisation chief Pascal Lamy said Wednesday. "Never before have we seen an economic shock ... of this magnitude," the WTO director general t

Published 26 Feb, 2009 12:00am

We were offered bribe to accept PCO judiciary, claims Nawaz

Pakistan Muslim League-Nawaz leader Mian Nawaz Sharif on Wednesday aimed his guns towards President Asif Ali Zardari after disqualification and urged the nation to stand up for supremacy of law and independence of judiciary.

Published 26 Feb, 2009 12:00am

Singapore may lose 99,000 jobs by mid-2010: DBS Bank

Singapore is likely to experience its worst ever recession and may lose 99,000 jobs by mid-2010, a DBS Bank report said Wednesday."Policy measures that have been put forth so far will help to cushion the blows but the worst of the labour market cycle is y

Published 26 Feb, 2009 12:00am

There is law but no justice: Prime Minister

Prime Minister Syed Yousuf Raza Gilani, while on a scheduled visit to the Commerce Ministry on Wednesday, reportedly stated "there is law but no justice in this country." according to one of the officials present at the meeting.

Published 26 Feb, 2009 12:00am

Fashion's creative capital London squeezed by time factor

A shortened London Fashion Week held onto its title as the capital of creativity but struggled to hang onto the catwalk models under pressure from its rivals. The womenswear collections, famous for featuring some of the world's most avant-garde designers,

Published 26 Feb, 2009 12:00am

There is law but no justice: Prime Minister

Prime Minister Syed Yousuf Raza Gilani, while on a scheduled visit to the Commerce Ministry on Wednesday, reportedly stated "there is law but no justice in this country." according to one of the officials present at the meeting.

Published 26 Feb, 2009 12:00am

Hong Kong economy to shrink but budget offers few handouts

Hong Kong's government forecast on Wednesday that the territory's economy will shrink this year for the first time since the Asian financial crisis more than a decade ago, but offered few handouts despite the global crisis. Financial Secretary John Tsang

Published 26 Feb, 2009 12:00am

Taseer will follow my directives, says Zardari

President Asif Ali Zardari said on Wednesday that Punjab Governor Salman Taseer will follow his directives in Punjab. According to a statement issued from Aiwan-e-Sadr, President Zardari said due to unfavourable situation in the province in context of the

Published 26 Feb, 2009 12:00am

Accor details battle plan after 2008 profit falls

French hotels and services group Accor SA outlined plans to cut spending to tackle weakening demand for its mid-range and luxury hotels as it posted a 3.5 percent drop in 2008 operating profit. Accor, whose hotels range from the budget Ibis brand to top-o

Published 26 Feb, 2009 12:00am

Signs of instability grow as Supreme Court disqualifies Sharif brothers: governor's rule imposed on Punjab

The Supreme Court on Wednesday upheld Lahore High Court's decision to disqualify Nawaz Sharif from contesting elections and, in another decision, annulled the notification declaring Shahbaz Sharif as member of Punjab provincial assembly.

Published 26 Feb, 2009 12:00am

Accor details battle plan after 2008 profit falls

French hotels and services group Accor SA outlined plans to cut spending to tackle weakening demand for its mid-range and luxury hotels as it posted a 3.5 percent drop in 2008 operating profit. Accor, whose hotels range from the budget Ibis brand to top-o

Published 26 Feb, 2009 12:00am

Signs of instability grow as Supreme Court disqualifies Sharif brothers: governor's rule imposed on Punjab

The Supreme Court on Wednesday upheld Lahore High Court's decision to disqualify Nawaz Sharif from contesting elections and, in another decision, annulled the notification declaring Shahbaz Sharif as member of Punjab provincial assembly.

Published 26 Feb, 2009 12:00am

Currency	Rate
USD PKR Interbank Selling / Dec 27	278.47
USD PKR Interbank Buying / Dec 27	278.22
USD to Japanese Yen / Dec 27	157.87
USD to Swiss Franc / Dec 27	0.90
Pound Sterling to USD / Dec 27	1.26
Euro to USD / Dec 27	1.04

Stock	Volume
S&P 500 / Dec 27	5,970.84
India Sensex / Dec 27	78,699.07
Tokyo Nikkei / Dec 27	40,281.16
Nasdaq / Dec 27	19,238.48
Hang Seng / Dec 27	20,090.46
FTSE 100 / Dec 27	8,149.78
Dow Jones / Dec 27	42,992.21
Germany DAX 30 / Dec 27	19,984.32

Item	Value
Crude Oil USD/Barrel / Dec 27	70.60
Gold 10 Grams PKR / Dec 27	234,225
Gold Spot USD/Ounce / Dec 27	2,621.40
Cotton US¢/pound / Dec 27	68.89
Karachi Cotton PKR/37.32 KG / Dec 28	17,785
Petrol/Litre / Dec 29	252.10

Stock	Price
First Capital Equities / Dec 27 First Capital Equities Limited(FCEL)	6.10 ▲ 1.00 (19.61%)
Chenab Ltd (Pref) / Dec 27 Chenab Limited (Pref)(CLCPS)	4.50 ▲ 0.60 (15.38%)
Sec. Inv. Bank / Dec 27 Security Investment Bank Limited(SIBL)	7.99 ▲ 1.00 (14.31%)
786 Invest Ltd / Dec 27 786 Investments Limited(786)	8.15 ▲ 1.00 (13.99%)
Chenab Ltd / Dec 27 Chenab Limited(CHBL)	9.61 ▲ 1.00 (11.61%)
Next Capital / Dec 27 Next Capital Limited(NEXT)	10.90 ▲ 1.00 (10.10%)
Image Pakistan / Dec 27 Image Pakistan Limited(IMAGE)	20.31 ▲ 1.85 (10.02%)
Baba Farid Sugar / Dec 27 Baba Farid Sugar Mills Limited(BAFS)	53.08 ▲ 4.83 (10.01%)
Biafo Ind. / Dec 27 Biafo Industries Limited(BIFO)	208.88 ▲ 18.99 (10.00%)

Stock	Price
Burj Clean Energy Modaraba / Dec 27 Burj Clean Energy Modaraba(GEM)(GEMBCEM)	8.10 ▼ -1.00 (-10.99%)
Blue-Ex Ltd / Dec 27 Blue-Ex Limited (GEM)(GEMBLUEX)	40.15 ▼ -4.46 (-10.00%)
Al-Khair Gadoon / Dec 27 Al-Khair Gadoon Limited(AKGL)	41.71 ▼ -4.63 (-9.99%)
Leiner Pak Gelat / Dec 27 Leiner Pak Gelatine Limited(LPGL)	131 ▼ -14.19 (-9.77%)
Jauharabad Sug / Dec 27 Jauharabad Sugar Mills Limited(JSML)	21 ▼ -2.10 (-9.09%)
Aruj Industries / Dec 27 Aruj Industries Limited(ARUJ)	8.62 ▼ -0.86 (-9.07%)
First Imrooz Mod. / Dec 27 First Imrooz Modaraba(FIMM)	200.20 ▼ -19.80 (-9.00%)
MithchellsFruit / Dec 27 Mitchells Fruit Farms Limited(MFFL)	243 ▼ -23.05 (-8.66%)
Grays Leasing / Dec 27 Grays Leasing Limited(GRYL)	5.71 ▼ -0.48 (-7.75%)

Stock	Volume
Fauji Foods Ltd / Dec 27 Fauji Foods Limited(FFL)	104,369,036 ▲ 0.78
WorldCall Telecom / Dec 27 Worldcall Telecom Limited(WTL)	72,731,608 ▲ 0.00
TRG Pak Ltd / Dec 27 TRG Pakistan Limited(TRG)	46,907,628 ▲ 1.54
Cnergyico PK / Dec 27 Cnergyico PK Limited(CNERGY)	40,110,243 ▲ 0.30
Hascol Petrol / Dec 27 Hascol Petroleum Limited(HASCOL)	34,416,789 ▲ 0.06
B.O.Punjab / Dec 27 The Bank of Punjab(BOP)	30,318,392 ▲ 0.04
Ghani Chem. Ind. / Dec 27 Ghani Chemical Industries Limited(GCIL)	26,183,062 ▲ 0.50
Sui South Gas / Dec 27 Sui Southern Gas Company Limited(SSGC)	25,823,481 ▲ 3.11
Silk Bank Ltd / Dec 27 Silkbank Limited(SILK)	25,520,925 ▼ -0.08

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