News Archives for Print - 2009-03-10

Interest rates on old and incremental FCY deposits

Interest rates on old and incremental FCY deposits on Monday (March 09, 2009).

Published 10 Mar, 2009 12:00am

Politics of confrontation no service to nation: AG

Attorney General Sardar Latif Khan Khosa on Monday said that politics of confrontation is no service to the nation and all issues should be decided in the Parliament. "Dialogue and reconciliation is solution to all problems and the political issues should

Published 10 Mar, 2009 12:00am

LIBOR calculating interest on US dollar

London Interbank Offer Rates on for calculating interest on special US dollar on Monday (March 09, 2009).

Published 10 Mar, 2009 12:00am

Newly appointed IHC CJ, Supreme Court judge take oath

Newly appointed Chief Justice of Islamabad High Court (IHC) and Judge of Supreme Court took oath of their offices here on Monday. Justice M. Bilal, former judge of Lahore High Court (LHC) took oath as Chief Justice of IHC and former IHC Chief Justice took

Published 10 Mar, 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 Monday (March 09, 2009).

Published 10 Mar, 2009 12:00am

Sri Lanka says no Indian hand in Lahore attacks

Sri Lanka on Monday rejected reports that neighbouring India may have been involved in the militant attack against the island's national cricket team in Pakistan. Foreign Minister Rohitha Bogollagama said Pakistan has promised an interim report on last Tu

Published 10 Mar, 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 Monday (March 09, 2009).

Published 10 Mar, 2009 12:00am

Sri Lanka says no Indian hand in Lahore attacks

Sri Lanka on Monday rejected reports that neighbouring India may have been involved in the militant attack against the island's national cricket team in Pakistan. Foreign Minister Rohitha Bogollagama said Pakistan has promised an interim report on last Tu

Published 10 Mar, 2009 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (March 09, 2009).

Published 10 Mar, 2009 12:00am

BRIndex30 sheds 56.39 points

On Monday, the BRIndex30 opened in the red zone at 5,307.19 and remained there for whole of the trading time. It closed at 5,270.05 with a net negative change of -56.39 points, or -1.06 percent. It experienced intra-day high of 5,325.57 and low of 5,246.2

Published 10 Mar, 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 10 Mar, 2009 12:00am

BRIndex30 sheds 56.39 points

On Monday, the BRIndex30 opened in the red zone at 5,307.19 and remained there for whole of the trading time. It closed at 5,270.05 with a net negative change of -56.39 points, or -1.06 percent. It experienced intra-day high of 5,325.57 and low of 5,246.2

Published 10 Mar, 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 10 Mar, 2009 12:00am

Dull activity on KSE

Negative sentiments prevailed at the Karachi share market due to uncertainty on the political front in the country, which kept the investors on the sidelines on Monday. The market started on a negative note and the benchmark KSE-100 index finally closed n

Published 10 Mar, 2009 12:00am

Karachi interbank rates

Karachi interbank rates on Monday (March 09, 2009).

Published 10 Mar, 2009 12:00am

Dull activity on KSE

Negative sentiments prevailed at the Karachi share market due to uncertainty on the political front in the country, which kept the investors on the sidelines on Monday. The market started on a negative note and the benchmark KSE-100 index finally closed n

Published 10 Mar, 2009 12:00am

Aaj TV - Tuesday's schedule

All timings are in PST (Pakistan Standard Time).

Published 10 Mar, 2009 12:00am

Dull activity on KSE

Negative sentiments prevailed at the Karachi share market due to uncertainty on the political front in the country, which kept the investors on the sidelines on Monday. The market started on a negative note and the benchmark KSE-100 index finally closed n

Published 10 Mar, 2009 12:00am

Ceylon raw rubber prices lower on Jodia Bazaar

The trading in Ceylon raw rubber edged lower on Jodia Bazaar here on Monday. The following changes were noted.

Published 10 Mar, 2009 12:00am

Holiday Notice

The offices of Business Recorder will remain closed today (Tuesday, March 10) on account of Eid-Milad-un-Nabi (SAW). There will, therefore, be no issue of the newspaper and Internet edition tomorrow (Wednesday, March 11). However arrangements has b

Published 10 Mar, 2009 12:00am

South African maize and wheat futures higher

South Africa's most traded maize and wheat futures ended higher on Monday, taking their cue from a weaker rand against the United States dollar. The main July white maize contract rose 2.71 percent to 1,627 rand a tonne, while yellow maize for delivery in

Published 10 Mar, 2009 12:00am

Saeed Ahmad made TCP chairman

Saeed Ahmad Khan, BS-21 officer of District Management Group, has been appointed as Chairman, Trading Corporation of Pakistan, with immediate effect and until further orders. Saeed Ahmad Khan is presently posted as Additional Secretary, Prime Minister''s

Published 10 Mar, 2009 12:00am

Solo deal amid dullness on cotton market

Slackened activity was again witnessed on the cotton market on Monday ahead of Eid-e-Milad-un-Nabi holiday, dealers said. The official spot rate was unchanged at Rs 3250, they said. The phutti prices in both the Punjab and Sindh were at Rs 1550-1650, they

Published 10 Mar, 2009 12:00am

Saeed Ahmad made TCP chairman

Saeed Ahmad Khan, BS-21 officer of District Management Group, has been appointed as Chairman, Trading Corporation of Pakistan, with immediate effect and until further orders. Saeed Ahmad Khan is presently posted as Additional Secretary, Prime Minister's S

Published 10 Mar, 2009 12:00am

Mixed pattern on wholesale grain market

Prices moved both ways on the wholesale grain market on Saturday in the process of moderate trading, dealers said. On the cereals side, Masoor Australia and Canada registered higher at Rs 7500-9500, respectively.

Published 10 Mar, 2009 12:00am

Saeed Ahmad made TCP chairman

Saeed Ahmad Khan, BS-21 officer of District Management Group, has been appointed as Chairman, Trading Corporation of Pakistan, with immediate effect and until further orders. Saeed Ahmad Khan is presently posted as Additional Secretary, Prime Minister's S

Published 10 Mar, 2009 12:00am

Taiwan renews tax exemption on some grains, soy

Taiwan will renew its exemption of wheat, barley, corn and soybeans imports from a 5 percent sales tax for another year, starting on Tuesday, to help businesses in the global downturn, the finance ministry said. Taiwan's companies have also been hurting d

Published 10 Mar, 2009 12:00am

768,000 tons of furnace oil needed by power sector in March-April

The Pakistan State Oil (PSO) has worked out 768,000 tons furnace oil requirements of Pepco''s thermal power stations and independent power producers (IPPs) for March and April, to be imported from different countries, official sources told Business Rec

Published 10 Mar, 2009 12:00am

Taiwan renews tax exemption on some grains, soy

Taiwan will renew its exemption of wheat, barley, corn and soybeans imports from a 5 percent sales tax for another year, starting on Tuesday, to help businesses in the global downturn, the finance ministry said. Taiwan's companies have also been hurting d
Published 10 Mar, 2009 12:00am

768,000 tons of furnace oil needed by power sector in March-April

The Pakistan State Oil (PSO) has worked out 768,000 tons furnace oil requirements of Pepco's thermal power stations and independent power producers (IPPs) for March and April, to be imported from different countries, official sources told Business Reco
Published 10 Mar, 2009 12:00am

Tokyo rubber futures end up

Tokyo rubber futures rose more than 1 percent to close under 140 yen on Monday, supported by a recovery in oil prices and a softer yen. Rubber has struggled to make gains since January as falling demand and fears of producer intervention to support prices
Published 10 Mar, 2009 12:00am

768,000 tons of furnace oil needed by power sector in March-April

The Pakistan State Oil (PSO) has worked out 768,000 tons furnace oil requirements of Pepco's thermal power stations and independent power producers (IPPs) for March and April, to be imported from different countries, official sources told Business Reco
Published 10 Mar, 2009 12:00am

Shanghai copper down

Shanghai copper fell on Monday, reversing an early rise and snapping four days of gains, as worries about rising stocks in China and the slowing pace of deliveries from London weighed on sentiment. London Metal Exchange copper stocks fell 3,175 tonnes to
Published 10 Mar, 2009 12:00am

Global financial market losses $50 trillion: ADB

The global financial crisis slashed the value of financial assets world-wide by $50 trillion last year, a study commissioned by the Asian Development Bank (ADB) said on Monday. Financial asset losses in developing Asia, which suffered more than other emer
Published 10 Mar, 2009 12:00am

Gold falls in Asia

Gold eased a touch on Monday to hover below $940 after gaining the previous session, and traders said it may stay below that level as there was little to drive trade in Asian market hours. A dealer based in Hong Kong said there was some small local buying
Published 10 Mar, 2009 12:00am

Global financial market losses $50 trillion: ADB

The global financial crisis slashed the value of financial assets world-wide by $50 trillion last year, a study commissioned by the Asian Development Bank (ADB) said on Monday. Financial asset losses in developing Asia, which suffered more than other emer
Published 10 Mar, 2009 12:00am

Indian soyaoil edges up

Indian soyaoil futures nudged higher on Monday afternoon, tracking a firm trend on Chicago Board of Trade (CBOT) and higher spot prices as traders made last-minute purchases ahead of festivals this week. A drop in soyabean futures and a rise in supplies o
Published 10 Mar, 2009 12:00am

Global financial market losses $50 trillion: ADB

The global financial crisis slashed the value of financial assets world-wide by $50 trillion last year, a study commissioned by the Asian Development Bank (ADB) said on Monday. Financial asset losses in developing Asia, which suffered more than other emer
Published 10 Mar, 2009 12:00am

Oil rises above $46

Oil rose more than 1 percent and topped $46 a barrel on Monday, extending the previous session's gains, as investors bank on expectations that Opec will cut output again at this month' meeting. But nagging worries about the health of the global economy an
Published 10 Mar, 2009 12:00am

EU backs IMF fund boost; stocks near 14-year lows

The European Union was set to back an International Monetary Fund call for $500 billion to fight the financial crisis on Monday as world stocks sank towards 14 year lows in a broad-based sell-off. Economic gloom spread from Asia to Europe as Japan recorde
Published 10 Mar, 2009 12:00am

Asian physical rubber

Asian physical rubber prices were steady on Monday, supported by a solid futures market, but sentiment remained weighed down by worries about lower demand from tyre makers. News on Friday that at least three major tyre makers had cancelled long-term contr
Published 10 Mar, 2009 12:00am

EU backs IMF fund boost; stocks near 14-year lows

The European Union was set to back an International Monetary Fund call for $500 billion to fight the financial crisis on Monday as world stocks sank towards 14 year lows in a broad-based sell-off. Economic gloom spread from Asia to Europe as Japan recorde
Published 10 Mar, 2009 12:00am

Abu Dhabi retail gold sales down over 70 percent

High prices and the economic downturn have battered Abu Dhabi's gold market, cutting retail sales by over 70 percent on the year in February, the Gulf emirate's gold and jewellery group chairman said on Sunday. Investors have used gold as a shelter from t
Published 10 Mar, 2009 12:00am

Categorisation of open-end schemes: SECP lays down Criterion

The Securities and Exchange Commission of Pakistan (SECP) has laid down the criterion for categorisation of open-end schemes managed by Asset Management Companies from March 6. The SECP has issued a Circular No 7 of 2009 here on Monday in consultation wit
Published 10 Mar, 2009 12:00am

Asia Crude Outlook: Middle East May trade to pick up this week

Trading on the Middle East crude market for May looks to pick up this week after the release of allocations by Saudi Arabia and a slew of official selling prices give refiners a better idea of the direction for the new trading month.
Published 10 Mar, 2009 12:00am

Categorisation of open-end schemes: SECP lays down Criterion

The Securities and Exchange Commission of Pakistan (SECP) has laid down the criterion for categorisation of open-end schemes managed by Asset Management Companies from March 6. The SECP has issued a Circular No 7 of 2009 here on Monday in consultation wit
Published 10 Mar, 2009 12:00am

Bargain hunting lifts Indian sugar

Indian sugar futures snapped a five-day losing streak and rose on Monday as bargain hunting emerged on hopes for a pick-up in consumption in the coming summer months when demand from makers of cold drinks and ice creams rise. At 3:52 pm (1022 GMT), the Ma
Published 10 Mar, 2009 12:00am

Categorisation of open-end schemes: SECP lays down Criterion

The Securities and Exchange Commission of Pakistan (SECP) has laid down the criterion for categorisation of open-end schemes managed by Asset Management Companies from March 6. The SECP has issued a Circular No 7 of 2009 here on Monday in consultation wit
Published 10 Mar, 2009 12:00am

Thai rubber intervention delayed again to April

Thailand's plan to buy 200,000 tonnes of rubber from farmers is expected to be delayed again to April while a process is put in place to ensure money goes to the people supposed to benefit, agriculture sector officials said on Monday. They said the author
Published 10 Mar, 2009 12:00am

Mark-up under EFS-Part II: State Bank extends relief on performance

The State Bank of Pakistan on Monday introduced performance-based lower mark-up rates for exporters under Export Finance Scheme (EFS) Part II with a view to further incentivise exporters who are performing well so that they remain competitive in the inter
Published 10 Mar, 2009 12:00am

China can buy more gold, oil with foreign exchange

China should use part of its nearly $2 trillion in foreign exchange reserves to buy more gold, oil, uranium and other strategic commodities, the head of China's energy bureau said in comments published on Monday. The comments made by Zhang Guobao, head of
Published 10 Mar, 2009 12:00am

Mark-up under EFS-Part II: State Bank extends relief on performance

The State Bank of Pakistan on Monday introduced performance-based lower mark-up rates for exporters under Export Finance Scheme (EFS) Part II with a view to further incentivise exporters who are performing well so that they remain competitive in the inter
Published 10 Mar, 2009 12:00am

Taipei port launches services

Taiwan opened a new port outside the capital city of Taipei Monday aimed at boosting the competitiveness of local exporters. President Ma Ying-jeou presided over a ceremony in Pali, in northern Taipei county, to mark the occasion. The port will operate tw
Published 10 Mar, 2009 12:00am

Mark-up under EFS-Part II: State Bank extends relief on performance

The State Bank of Pakistan on Monday introduced performance-based lower mark-up rates for exporters under Export Finance Scheme (EFS) Part II with a view to further incentivise exporters who are performing well so that they remain competitive in the inter
Published 10 Mar, 2009 12:00am

Opec head hints at possible output cut

Current Opec president Jose Maria Botelho de Vasconcelos of Angola said Monday the oil cartel could decide to cut output again this month. "If it proves necessary, we will decide again, at our meeting in mid-March on a production cut," de Vasconcelos told
Published 10 Mar, 2009 12:00am

SBP amends rules to prevent money laundering, terrorist financing

The State Bank of Pakistan has made amendments in Prudential Regulations for Corporate/Commercial Banking-M-1 & M-2 to prevent possible use of banking sector for money laundering and terrorist financing, and with the view to preserve integrity and safety
Published 10 Mar, 2009 12:00am

'Joblessness near depression highs'

The US unemployment rate would be 19.1 percent, close to the level during the Great Depression, using the methodology that prevailed 80 years ago, according to Shadowstats.com. According to the official Labour Department figures, the jobless rate jumped t
Published 10 Mar, 2009 12:00am

SBP amends rules to prevent money laundering, terrorist financing

The State Bank of Pakistan has made amendments in Prudential Regulations for Corporate/Commercial Banking-M-1 & M-2 to prevent possible use of banking sector for money laundering and terrorist financing, and with the view to preserve integrity and safety
Published 10 Mar, 2009 12:00am

US job market plummets in February

The US job market weakened sharply in February, and has deteriorated over the last year at its worst rate in at least 35 years, a research group said on Monday. The Conference Board, a private research group, said its Employment Trends Index fell to 91.0
Published 10 Mar, 2009 12:00am

SBP amends rules to prevent money laundering, terrorist financing

The State Bank of Pakistan has made amendments in Prudential Regulations for Corporate/Commercial Banking-M-1 & M-2 to prevent possible use of banking sector for money laundering and terrorist financing, and with the view to preserve integrity and safety
Published 10 Mar, 2009 12:00am

Public transportation in US at highest level in 52 years

More people in the United States are using public transportation than at any time in the last 52 years, according to an industry study released Monday. The American Public Transportation Association (APTA) said Americans took 10.7 billion trips on buses,
Published 10 Mar, 2009 12:00am

Eid Milad-un-Nabi today

Eid-e-Milad-un-Nabi (peace be upon him), the 12th of Rabi-ul-Awwal, marking the birthday of the Holy Prophet Hazrat Muhammad (peace be upon him), is being celebrated on Tuesday with religious solemnity and enthusiasm. The national flag will be hoisted on
Published 10 Mar, 2009 12:00am

Japan swings to record current account deficit

Japan's current account balance swung to its largest deficit on record in January, with the income surplus tumbling about a third from a year earlier, adding to pressure on an already falling yen. The first deficit in 13 years came as the global financial
Published 10 Mar, 2009 12:00am

Eid Milad-un-Nabi today

Eid-e-Milad-un-Nabi (peace be upon him), the 12th of Rabi-ul-Awwal, marking the birthday of the Holy Prophet Hazrat Muhammad (peace be upon him), is being celebrated on Tuesday with religious solemnity and enthusiasm. The national flag will be hoisted on
Published 10 Mar, 2009 12:00am

EU's supervision plans may be replicated globally

Path-breaking European Union plans to beef up financial supervision may be replicated globally though much will hinge on how the United States responds, a top official from the bloc's executive said on Monday. A high-level committee headed by former Bank
Published 10 Mar, 2009 12:00am

Musharraf spells out three-pronged strategy

A placid looking former President, General Pervez Musharraf (Retd), full of pep and radiating unusual confidence suggested a three-point strategy for pulling the country out of the current turmoil at a crowded impromptu press conference arranged by Jawz C
Published 10 Mar, 2009 12:00am

Turkish industry crumbles, lira hits record low

Turkish industrial production recorded its sharpest fall in 12 years on Monday, sending the lira to its weakest ever level and prompting the central bank to act to support the currency. Turkish Statistics Institute data showed industrial production fell b
Published 10 Mar, 2009 12:00am

Musharraf spells out three-pronged strategy

A placid looking former President, General Pervez Musharraf (Retd), full of pep and radiating unusual confidence suggested a three-point strategy for pulling the country out of the current turmoil at a crowded impromptu press conference arranged by Jawz C
Published 10 Mar, 2009 12:00am

Iran MPs scrap fuel price hike in budget

MPs in Iran on Monday scrapped a proposal in the budget which would allow the government to raise energy prices following protests that this would stoke inflation, a media report said. Under a 298-billion-dollar budget, whose outlines parliament approved
Published 10 Mar, 2009 12:00am

Chinese ships harass US Navy vessel: Pentagon

Several Chinese ships manoeuvred dangerously close to an unarmed US Navy ship in international waters, the Pentagon said on Monday. "This was a reckless, dangerous manoeuvre that was unprofessional" and violated international law, Defence Department spoke
Published 10 Mar, 2009 12:00am

Kielholz of Credit Suisse appointed chairman of Swiss Re

Credit Suisse chairman Walter Kielholz relinquished his post at Switzerland's number two bank to become chairman of troubled reinsurer Swiss Re, which has turned to Warren Buffett for cash after a hefty loss. Swiss Re chose ex-CEO and current vice chairma
Published 10 Mar, 2009 12:00am

Former Tigers join Sri Lanka ruling party

Some 2,000 former Tamil Tiger guerrillas joined Sri Lanka's ruling party on Monday, formalising a political alliance, officials said. The former rebels are followers of a former war-lord who defected from the separatist Tamil Tigers in 2004 and formed his
Published 10 Mar, 2009 12:00am

Asia capital losses at $9.6 trillion in 2008: ADB

Financial assets in Asia lost 9.6 trillion dollars in value in 2008, slightly more than a year's worth of GDP, the Asian Development Bank said on Monday. It said Asia was hit especially hard as the global downturn led to an estimated 50 trillion dollars i
Published 10 Mar, 2009 12:00am

Bearish sentiments prevail on LSE

Bearish sentiments prevailed at the Lahore Stock Exchange on Monday and the equities registered losses amid reduced trading volume due to lacking interest on the part of investors. The LSE-25 index lost 26.49 points and ended at 1680.87 against 1707.36 of
Published 10 Mar, 2009 12:00am

Asia capital losses at $9.6 trillion in 2008: ADB

Financial assets in Asia lost 9.6 trillion dollars in value in 2008, slightly more than a year's worth of GDP, the Asian Development Bank said on Monday. It said Asia was hit especially hard as the global downturn led to an estimated 50 trillion dollars i
Published 10 Mar, 2009 12:00am

Bearish sentiments prevail on LSE

Bearish sentiments prevailed at the Lahore Stock Exchange on Monday and the equities registered losses amid reduced trading volume due to lacking interest on the part of investors. The LSE-25 index lost 26.49 points and ended at 1680.87 against 1707.36 of
Published 10 Mar, 2009 12:00am

Iceland closes Straumur Burdaras investment bank

Investment bank Straumur Burdaras, the last of Iceland's big banks left independent after the state seized control of three others in 2008, said Monday it had been shut down due to liquidity problems. "In spite of its strong capital position and the suppo
Published 10 Mar, 2009 12:00am

Iran says US failing in Afghanistan

Iran said on Monday the United States was failing in Afghanistan and that a new approach was needed, four days after Washington said it would invite Tehran to an international conference to discuss its neighbour. Foreign Minister Manouchehr Mottaki did no
Published 10 Mar, 2009 12:00am

Qatar government to buy investment shares from banks

Qatar launched new measures to support its banking sector on Monday with a government plan to buy banks' investment portfolios in a bid to revive lending and support the economy, sending financial shares soaring. "The government is studying a system to ta
Published 10 Mar, 2009 12:00am

Iran says US failing in Afghanistan

Iran said on Monday the United States was failing in Afghanistan and that a new approach was needed, four days after Washington said it would invite Tehran to an international conference to discuss its neighbour. Foreign Minister Manouchehr Mottaki did no
Published 10 Mar, 2009 12:00am

Hotel occupancy rates drop in Dubai

Hotel occupancy rates in Dubai dropped to 79 percent in 2008, the lowest level since 2004, with a decline in demand from Europe due to the financial crisis, a consultancy firm said on Monday. Hotel occupancy last year was five percent lower than in 2007,
Published 10 Mar, 2009 12:00am

Pakistan, Iran, Turkey container train service from August 14

Pakistan, Iran and Turkey agreed to launch Special Container Train service to give new dimension to trade among three countries. The train service is likely to be launched on August 14, 2009 from Islamabad in a ceremony to be attended by leadership of all
Published 10 Mar, 2009 12:00am

Polish companies plan layoffs, less investment

Almost 20 percent of Polish companies will lay off staff as the slowing economy bites into demand for their products, a business lobby survey showed on Monday. The Polish Chamber of Commerce (KIG) surveyed 160 companies of different sizes and also found t
Published 10 Mar, 2009 12:00am

Pakistan, Iran, Turkey container train service from August 14

Pakistan, Iran and Turkey agreed to launch Special Container Train service to give new dimension to trade among three countries. The train service is likely to be launched on August 14, 2009 from Islamabad in a ceremony to be attended by leadership of all
Published 10 Mar, 2009 12:00am

Bangladesh remittances up 13.8 percent on year

Bangladesh received $784.47 million in remittances from expatriate workers in February, up 13.8 percent from a year earlier but down from a record high of $859 million in January, central bank data showed on Monday. The latest available figure pushed up r
Published 10 Mar, 2009 12:00am

Pakistan, Iran, Turkey container train service from August 14

Pakistan, Iran and Turkey agreed to launch Special Container Train service to give new dimension to trade among three countries. The train service is likely to be launched on August 14, 2009 from Islamabad in a ceremony to be attended by leadership of all
Published 10 Mar, 2009 12:00am

Iran economists warn against big hike in fuel prices

A group of Iranian economists has warned against a proposal for a sharp rise in energy prices, saying it would increase poverty and stoke already high inflation, press reports said on Monday. Under a 298-billion-dollar budget approved by parliament on Sun
Published 10 Mar, 2009 12:00am

Dried shelled vegetables L/C cash margin waived

The State Bank of Pakistan has waived the condition of cash margin on import Letters of Credit (L/Cs) of leguminous vegetables and dried shelled. SBP on Monday announced this relaxation referring to BPRD Circular Letter No 05 of 2009 dated March 3, 2009.
Published 10 Mar, 2009 12:00am

Czech exports plunge, jobless jumps as crisis hits

Czech exports dropped by their fastest annual pace on record in January and companies slashed jobs to confront a plunge in euro zone demand, showing the central European state was feeling the full impact of the global crisis. Separate data showed inflatio
Published 10 Mar, 2009 12:00am

Dried shelled vegetables L/C cash margin waived

The State Bank of Pakistan has waived the condition of cash margin on import Letters of Credit (L/Cs) of leguminous vegetables and dried shelled. SBP on Monday announced this relaxation referring to BPRD Circular Letter No 05 of 2009 dated March 3, 2009.
Published 10 Mar, 2009 12:00am

Romanian president pushes austerity, IMF visit likely

The International Monetary Fund will visit Bucharest this week, a government official said on Monday, increasing speculation that Romania could join other eastern European states in requesting an economic rescue. President Traian Basescu planned to seek b
Published 10 Mar, 2009 12:00am

Dried shelled vegetables L/C cash margin waived

The State Bank of Pakistan has waived the condition of cash margin on import Letters of Credit (L/Cs) of leguminous vegetables and dried shelled. SBP on Monday announced this relaxation referring to BPRD Circular Letter No 05 of 2009 dated March 3, 2009.
Published 10 Mar, 2009 12:00am

Bank of France still sees first quarter GDP down

The French economy is expected to contract by 0.6 percent in the first quarter of 2009, the Bank of France said in a monthly survey released on Monday, leaving its forecast unchanged from the previous reading. The central bank survey said industrial activ
Published 10 Mar, 2009 12:00am

Zardari has deceived us: Nawaz

Leader of PML-N, Nawaz Sharif said on Monday that President Asif Ali Zardari has deceived them in the name of reconciliation. Addressing a massive gathering at Jehlum, he said President Zardari has sent Asfandyar Wali and Maulana Fazl-ur-Rehman for creati
Published 10 Mar, 2009 12:00am

Serbia payments gap shrinks as economy slows

Serbia's current account gap fell by 80 percent year-on-year in January to $96.8 million, its lowest reading in nine years, according to balance of payments figures published by the central bank on Monday. The decline in the current account deficit follow
Published 10 Mar, 2009 12:00am

Zardari has deceived us: Nawaz

Leader of PML-N, Nawaz Sharif said on Monday that President Asif Ali Zardari has deceived them in the name of reconciliation. Addressing a massive gathering at Jehlum, he said President Zardari has sent Asfandyar Wali and Maulana Fazl-ur-Rehman for creati
Published 10 Mar, 2009 12:00am

Taiwan exports slide, some signs of restocking

Taiwan's exports fell 28.6 percent in February from a year earlier, declining more slowly than January's record plunge as buyers restocked after depleting inventory too quickly. There was little sign of an improvement in global demand. Analysts said the F
Published 10 Mar, 2009 12:00am

Unofficial close: Nasdaq tumbles

US stocks fell in choppy trade and the Nasdaq slid to a fresh 6 and 1/2-year low on Monday as shares of the biggest drugmakers fell after Merck''s proposed a $41 billion take-over of Schering-Plough. Large mergers and acquisitions are generally viewed as
Published 10 Mar, 2009 12:00am

Satyam starts bidding process for 51 percent stake sale

Fraud-hit Indian outsourcing giant Satyam Computer Services said on Monday it had started the bidding process to sell off a 51 percent stake. Each interested bidder will have to show proof of availability of at least 15 billion rupees (288 million dollars
Published 10 Mar, 2009 12:00am

Unofficial close: Nasdaq tumbles

US stocks fell in choppy trade and the Nasdaq slid to a fresh 6 and 1/2-year low on Monday as shares of the biggest drugmakers fell after Merck's proposed a $41 billion take-over of Schering-Plough. Large mergers and acquisitions are generally viewed as a
Published 10 Mar, 2009 12:00am

Currency	Rate
USD PKR Interbank Selling / Nov 15	277.70
USD PKR Interbank Buying / Nov 15	277.50
USD to Japanese Yen / Nov 15	154.30
USD to Swiss Franc / Nov 15	0.89
Pound Sterling to USD / Nov 15	1.26
Euro to USD / Nov 15	1.05

Stock	Volume
India Sensex / Nov 14	77,580.31
S&P 500 / Nov 15	5,870.62
Tokyo Nikkei / Nov 15	38,642.91
Nasdaq / Nov 15	18,680.12
Hang Seng / Nov 15	19,426.34
FTSE 100 / Nov 15	8,063.61
Dow Jones / Nov 15	43,444.99
Germany DAX 30 / Nov 15	19,210.81

Item	Value
Crude Oil USD/Barrel / Nov 15	67.02
Gold 10 Grams PKR / Nov 15	233,371.60
Gold Spot USD/Ounce / Nov 15	2,563.25
Cotton US¢/pound / Nov 15	68.91
Karachi Cotton PKR/37.32 KG / Nov 16	18,085
Petrol/Litre / Nov 17	248.38

Stock	Price
786 Invest Ltd / Nov 17 786 Investments Limited(786)	6.33 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 17 Al-Abbas Sugar Mills Limited(AABS)	609.73 ▼ 0.00 (0.00%)
Agro Allianz / Nov 17 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 17 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 17 Ali Asghar Textile Mills Limited(AATM)	56.65 ▼ 0.00 (0.00%)
Allied Bank / Nov 17 Allied Bank Limited(ABL)	115.07 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 17 Abbott Laboratories (Pakistan) Limited(ABOT)	1,008.83 ▼ 0.00 (0.00%)
Abson Ind. / Nov 17 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 17 Alfalah Consumer Index ETF.(ACIETF)	12.43 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 17 786 Investments Limited(786)	6.33 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 17 Al-Abbas Sugar Mills Limited(AABS)	609.73 ▲ 0.00 (0.00%)
Agro Allianz / Nov 17 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 17 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 17 Ali Asghar Textile Mills Limited(AATM)	56.65 ▲ 0.00 (0.00%)
Allied Bank / Nov 17 Allied Bank Limited(ABL)	115.07 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 17 Abbott Laboratories (Pakistan) Limited(ABOT)	1,008.83 ▲ 0.00 (0.00%)
Abson Ind. / Nov 17 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 17 Alfalah Consumer Index ETF.(ACIETF)	12.43 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Nov 17 Worldcall Telecom Limited(WTL)	77,999,077 ▲ 0.00
Fauji Foods Ltd / Nov 17 Fauji Foods Limited(FFL)	70,721,702 ▲ 0.00
Hascol Petrol / Nov 17 Hascol Petroleum Limited(HASCOL)	55,501,231 ▲ 0.00
K-Electric Ltd. / Nov 17 K-Electric Limited(KEL)	36,884,955 ▲ 0.00
Sui South Gas / Nov 17 Sui Southern Gas Company Limited(SSGC)	36,294,630 ▲ 0.00
D.S. Ind. Ltd. / Nov 17 D.S. Industries Limited(DSIL)	32,226,742 ▲ 0.00
TRG Pak Ltd / Nov 17 TRG Pakistan Limited(TRG)	29,018,611 ▲ 0.00
Pak Int.Bulk / Nov 17 Pakistan International Bulk Terminal(PIBTL)	22,405,457 ▲ 0.00
Treet Battery / Nov 17 Treet Battery Limited(TBL)	21,319,898 ▲ 0.00

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