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Nov 26, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2009-03-20
Hong Kong dollar inches up

Hong Kong dollar inches up

The Hong Kong dollar edged higher on Thursday but trading was confined to a narrow range, while local longer-dated interest rates dropped in response to a sharp decline in US bond yields after the Federal Reserves plans to buy government debt. The local c
Published 20 Mar, 2009 12:00am
Nikkei dips

Nikkei dips

Japans Nikkei average slipped 0.6 percent on Thursday, giving up early gains as a stronger yen hit Honda Motor Co and other exporters, while investors locked in profits from a sharp rally in the past week. Tokyo stocks started Thursday firmly, following t
Published 20 Mar, 2009 12:00am
China stocks surge

China stocks surge

Chinas main stock index surged in heavy trade on Thursday, led by coal shares, as ample liquidity in Chinese capital markets continued to encourage buying of shares by short-term speculators. The Shanghai Composite Index ended up 1.89 percent at a three-w
Published 20 Mar, 2009 12:00am
Seoul shares down

Seoul shares down

Seoul shares fell on Thursday as losses by exporters on a rapid rise in the won outweighed gains by the beneficiaries of strength in the domestic currency, while KB Financial slid on rumours of a stake sale by an investor. The Korea Composite Stock Price
Published 20 Mar, 2009 12:00am
Thai shares up

Thai shares up

Thai share prices closed 0.36 percent higher on Thursday as the bourse welcomed the United States Federal Reserves surprise trillion-dollar debt-buying plan. The Stock Exchange of Thailand (SET) composite index gained 1.52 points to 427.72, while the blue
Published 20 Mar, 2009 12:00am
US Treasury rises

US Treasury rises

US Treasury debt prices rose on Wednesday in thin trading volume as a fall in US stock markets fuelled safe-haven buying while investors wait for the Federal Reserves policy statement in the afternoon. Bond market analysts are curious whether the central
Published 20 Mar, 2009 12:00am
US Treasury rises

US Treasury rises

US Treasury debt prices rose on Wednesday in thin trading volume as a fall in US stock markets fuelled safe-haven buying while investors wait for the Federal Reserves policy statement in the afternoon. Bond market analysts are curious whether the central
Published 20 Mar, 2009 12:00am
Singapore stocks climb

Singapore stocks climb

Singapore shares closed 0.57 percent higher Thursday, buoyed by the extended rebound in US stocks, dealers said. The blue chip Straits Times Index (STI) rose 8.92 points to 1,584.86 on volume of 878 million shares worth 872 million Singapore dollars (575
Published 20 Mar, 2009 12:00am
US stocks higher

US stocks higher

US stocks leaped on Wednesday after the Federal Reserve surprised Wall Street when it said it will buy long-term Treasury bonds for the first time in four decades in an effort to revive the recession-hit economy. The Feds move, aimed at resuscitating lend
Published 20 Mar, 2009 12:00am
Hong Kong shares end flat

Hong Kong shares end flat

Hong Kong shares stalled on Thursday as investors sold down lender HSBC after a seven-session rally, while the other heavyweight China Mobile dropped on slower-than-expected growth in quarterly earnings. Chinas top juice maker, Huiyuan Juice, plummeted 42
Published 20 Mar, 2009 12:00am
Malaysian shares rise

Malaysian shares rise

Malaysian shares closed up 0.50 percent Thursday led by banking stocks, dealers said. The Kuala Lumpur Composite Index gained 4.22 points to 852.18, with advancers outnumbering decliners 230 to 215. "Gains were quite strong at the opening but selling emer
Published 20 Mar, 2009 12:00am
Taiwan stocks slide

Taiwan stocks slide

Taiwan stocks fell 0.23 percent on Thursday, ending a four-session winning streak, as a sharp rise in the Taiwan dollar pressured technology exporters such as contract chip maker TSMC. The main TAIEX share index ended 11.61 points lower at 5,035.93, retre
Published 20 Mar, 2009 12:00am
Indonesian shares higher

Indonesian shares higher

Indonesian shares ended 1.42 percent higher on Thursday on expectations that the rupiah will continue to strengthen, dealers said. The Jakarta Composite Index gained 18.77 points to 1,341.60 in moderate volume. "Late profit-taking in coal-related stocks o
Published 20 Mar, 2009 12:00am
Japan eyes $15 billion jobs plan

Japan eyes $15 billion jobs plan

Japan may spend more than 15 billion dollars to protect jobs and help the unemployed amid its steepest economic downturn in decades, Labour Minister Yoichi Masuzoe said Thursday. The plan could cover vocational training for job-seekers, subsidies to help
Published 20 Mar, 2009 12:00am
French economy may shrink more than forecast

French economy may shrink more than forecast

Frances economy could shrink by 1 percent in the first quarter, drawing into question government forecasts for 2009, a French newspaper said on Wednesday, citing a source close to Economy Minister Christine Lagarde. The French government expects the econo
Published 20 Mar, 2009 12:00am
European Union stimulus too small to fight crisis: Krugman

European Union stimulus too small to fight crisis: Krugman

The European Unions fiscal stimulus package is insufficient to breathe fresh life into the blocs recession-hit economy, Nobel prize-winning economist Paul Krugman said on Tuesday. Krugman, during a seminar at EU headquarters, reiterated that US President
Published 20 Mar, 2009 12:00am
UAE says economy may contract as downturn hits Gulf

UAE says economy may contract as downturn hits Gulf

The United Arab Emirates economy could contract this year due to the global slowdown, the economy minister said on Thursday, as signs mount the global financial crisis has hit Gulf oil producers harder than initially thought.
Published 20 Mar, 2009 12:00am
General Mills profit below view; shares fall

General Mills profit below view; shares fall

General Mills Inc posted a lower-than-expected quarterly profit on Wednesday, hurt by the effect of the stronger dollar and high costs, and forecast disappointing full-year earnings, sending its shares down as much as 10 percent to a three-year low. The f
Published 20 Mar, 2009 12:00am
General Mills profit below view; shares fall

General Mills profit below view; shares fall

General Mills Inc posted a lower-than-expected quarterly profit on Wednesday, hurt by the effect of the stronger dollar and high costs, and forecast disappointing full-year earnings, sending its shares down as much as 10 percent to a three-year low. The f
Published 20 Mar, 2009 12:00am
Greek government freezes public sector salaries

Greek government freezes public sector salaries

The Greek government on Wednesday froze the salaries of public sector employees earning more than 1,700 euros (2,208 dollars) per month in an effort to rein in public spending. "The decisions we announce today are difficult," Finance Minister Yannis Papat
Published 20 Mar, 2009 12:00am
British financial watchdog vows major rule changes

British financial watchdog vows major rule changes

The head of Britains financial watchdog on Wednesday outlined large-scale reform of the way banks and other institutions are policed in the wake of the problems exposed by the global credit crunch. Financial Services Authority (FSA) chief Adair Turner sai
Published 20 Mar, 2009 12:00am
Key stock and currency market movements

Key stock and currency market movements

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous days closes in brackets).

Published 20 Mar, 2009 12:00am
Swiss economic outlook gloomy as export slump continues

Swiss economic outlook gloomy as export slump continues

Swiss exports fell sharply in February as demand slumped in all sectors and regions, adding to recent dire news from the economy and underlining the importance of the Swiss National Banks steps to weaken the Swiss franc. Switzerland has held up better dur
Published 20 Mar, 2009 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (March 19, 2009).

Published 20 Mar, 2009 12:00am
Commercial imports: WHT to be calculated by adding two percent sales tax

Commercial imports: WHT to be calculated by adding two percent sales tax

The Federal Board of Revenue (FBR) would calculate withholding tax on commercial imports by adding 2 percent sales tax, payable under SRO.645(I)/2007, which was levied in lieu of sales tax payable on local supplies after "value addition". The FBR has amen
Published 20 Mar, 2009 12:00am
Emirates to pull A380 from New York routes on downturn

Emirates to pull A380 from New York routes on downturn

Emirates airline said on Wednesday it would stop using Airbus A380 double-decker aircraft to fly passengers between Dubai and New York because demand for the route had been hit by the global recession. The Dubai-based carrier said it would redeploy the tw
Published 20 Mar, 2009 12:00am
Commercial imports: WHT to be calculated by adding two percent sales tax

Commercial imports: WHT to be calculated by adding two percent sales tax

The Federal Board of Revenue (FBR) would calculate withholding tax on commercial imports by adding 2 percent sales tax, payable under SRO.645(I)/2007, which was levied in lieu of sales tax payable on local supplies after "value addition". The FBR has amen
Published 20 Mar, 2009 12:00am
Some in Opec see $60 a barrel oil in 2009

Some in Opec see $60 a barrel oil in 2009

Some Opec members have limited their oil price ambitions in 2009 due to the weak world economy, despite Opecs belief that higher prices are needed to support investment in new supplies. Algeria and Libya said they expected oil to reach $60 a barrel by the
Published 20 Mar, 2009 12:00am
Commercial imports: WHT to be calculated by adding two percent sales tax

Commercial imports: WHT to be calculated by adding two percent sales tax

The Federal Board of Revenue (FBR) would calculate withholding tax on commercial imports by adding 2 percent sales tax, payable under SRO.645(I)/2007, which was levied in lieu of sales tax payable on local supplies after "value addition". The FBR has amen
Published 20 Mar, 2009 12:00am
Global security in danger without economic aid: US lawmakers

Global security in danger without economic aid: US lawmakers

The International Monetary Fund must be given more money to rescue poorer nations on the brink of collapse because of the financial crisis, US legislators and global lenders said Wednesday, calling the global recession a direct threat to national security
Published 20 Mar, 2009 12:00am
Commercial imports: WHT to be calculated by adding two percent sales tax

Commercial imports: WHT to be calculated by adding two percent sales tax

The Federal Board of Revenue (FBR) would calculate withholding tax on commercial imports by adding 2 percent sales tax, payable under SRO.645(I)/2007, which was levied in lieu of sales tax payable on local supplies after "value addition". The FBR has amen
Published 20 Mar, 2009 12:00am
Watchdog orders BAA to sell three airports

Watchdog orders BAA to sell three airports

British competition authorities on Thursday ordered Spanish-owned airports operator BAA to sell Londons Gatwick and Stansted airports, as well as Edinburgh or Glasgow, within the next two years. The Competition Commission (CC) said in a landmark ruling th
Published 20 Mar, 2009 12:00am
US House passes 90 percent tax on bailout bonuses

US House passes 90 percent tax on bailout bonuses

Swept up by a wave of populist economic anger, the US House of Representatives overwhelmingly voted Thursday to slap a 90 percent tax on bonuses at bailed-out firms like insurer AIG. The Democratic majority rallied a large swath of President Barack Obamas
Published 20 Mar, 2009 12:00am
HSBC shareholders approve plan to raise $18.06 billion

HSBC shareholders approve plan to raise $18.06 billion

Shareholders in Europes biggest bank HSBC on Thursday approved a plan to boost its capital by 12.5 billion pounds (13.3 billion euros, 18.06 billion dollars) to withstand the financial crisis. The proposal was backed by a 99.1-percent majority. HSBC outli
Published 20 Mar, 2009 12:00am
US House passes 90 percent tax on bailout bonuses

US House passes 90 percent tax on bailout bonuses

Swept up by a wave of populist economic anger, the US House of Representatives overwhelmingly voted Thursday to slap a 90 percent tax on bonuses at bailed-out firms like insurer AIG. The Democratic majority rallied a large swath of President Barack Obamas
Published 20 Mar, 2009 12:00am
Australian manufacturing at 18-year low

Australian manufacturing at 18-year low

Australias manufacturing activity weakened in the first quarter to an 18-year low, figures released Thursday showed, in the latest sign of a looming recession. The Westpac-Australian Chamber of Commerce and Industry (ACCI) index of industrial trends fell
Published 20 Mar, 2009 12:00am
US House passes 90 percent tax on bailout bonuses

US House passes 90 percent tax on bailout bonuses

Swept up by a wave of populist economic anger, the US House of Representatives overwhelmingly voted Thursday to slap a 90 percent tax on bonuses at bailed-out firms like insurer AIG. The Democratic majority rallied a large swath of President Barack Obamas
Published 20 Mar, 2009 12:00am
UK posts biggest budget deficit on record

UK posts biggest budget deficit on record

Britain posted its biggest February budget deficit on record last month, as rising unemployment and a shrinking economy drove tax receipts down 10 percent on the year, official figures showed on Thursday. Public sector net borrowing stood at 8.991 billion
Published 20 Mar, 2009 12:00am
HSBC shareholders approve plan to raise $18.06 billion

HSBC shareholders approve plan to raise $18.06 billion

Shareholders in Europes biggest bank HSBC on Thursday approved a plan to boost its capital by 12.5 billion pounds (13.3 billion euros, 18.06 billion dollars) to withstand the financial crisis. The proposal was backed by a 99.1-percent majority. HSBC outli
Published 20 Mar, 2009 12:00am
World Bank sees trade finance gap at $300 billion

World Bank sees trade finance gap at $300 billion

The shortfall in trade finance, which underpins a large share of the $13-14 trillion in global trade, is running at $100-300 billion, a senior World Bank official said on Thursday. The figures highlight the damage being done to trade and output by the fin
Published 20 Mar, 2009 12:00am
US launches mortgage aid website

US launches mortgage aid website

The Obama administration on Thursday launched a new website to provide information to home owners about its mortgage modification and refinancing programmes. The website, www.makinghomeaffordable.gov is a joint effort of the US Treasury and the Department
Published 20 Mar, 2009 12:00am
EU defies extra stimulus calls despite Fed move

EU defies extra stimulus calls despite Fed move

European Union leaders rejected US pressure to inject more cash into their economies to combat the global recession on Thursday, despite a US pledge to pump more money into its own recovery effort. The 27-nation blocs leaders were likely instead to propos
Published 20 Mar, 2009 12:00am
FDI during July-January amounts to $2587.7 million

FDI during July-January amounts to $2587.7 million

The Economic Co-ordination Committee was informed on Thursday that foreign direct investment (FDI) during July-January, 2008-09 amounted to 2587.7 million dollars, registering a healthy growth of 1.3 percent compared with the last years period under revie
Published 20 Mar, 2009 12:00am
Indias inflation falls to near zero

Indias inflation falls to near zero

Inflation in India has dropped close to zero, official data showed Thursday, as Asias third-largest economy continued a sharp slide towards deflationary territory. Annual inflation fell to 0.44 percent for the week ended March 7 from 2.43 percent the prev
Published 20 Mar, 2009 12:00am
FDI during July-January amounts to $2587.7 million

FDI during July-January amounts to $2587.7 million

The Economic Co-ordination Committee was informed on Thursday that foreign direct investment (FDI) during July-January, 2008-09 amounted to 2587.7 million dollars, registering a healthy growth of 1.3 percent compared with the last years period under revie
Published 20 Mar, 2009 12:00am
US jobless rolls swell to record 5.47 million

US jobless rolls swell to record 5.47 million

The number of US workers drawing state unemployment benefits hit another record high early this month and factory activity in the Mid-Atlantic region shrank again as the economy battles a severe downturn. The Labour Department said on Thursday that 5.47 m
Published 20 Mar, 2009 12:00am
FDI during July-January amounts to $2587.7 million

FDI during July-January amounts to $2587.7 million

The Economic Co-ordination Committee was informed on Thursday that foreign direct investment (FDI) during July-January, 2008-09 amounted to 2587.7 million dollars, registering a healthy growth of 1.3 percent compared with the last years period under revie
Published 20 Mar, 2009 12:00am
US bailout auditor announces probe into AIG bonuses

US bailout auditor announces probe into AIG bonuses

The US governments chief overseer of bank bailout funds announced Thursday a probe into bonuses paid by AIG including what role the Treasury played in approving the payments. The announcement by Neil Barofsky, the special inspector-general of the Troubled
Published 20 Mar, 2009 12:00am
Some bailed-out companies owe taxes

Some bailed-out companies owe taxes

Some top recipients of US bailout money owe the federal government more than $220 million in unpaid taxes, a US lawmaker said on Thursday. Representative John Lewis, a Democrat from Georgia who heads the US House of Representatives Ways and Means oversigh
Published 20 Mar, 2009 12:00am
Zardari not satisfied with Iranian gas price offer

Zardari not satisfied with Iranian gas price offer

President Asif Ali Zardari has said that let the new parliament of Iran decides about gas price regarding the Iran-Pakistan-India (IPI) gas pipeline project. Sources revealed to the Business Recorder on Thursday that in a high level meeting held in
Published 20 Mar, 2009 12:00am
Russia sheds 300,000 jobs in February

Russia sheds 300,000 jobs in February

Another 300,000 Russians lost their jobs in February bringing total layoffs to more than million since the beginning of December while retail sales fell for the first time in a decade. The number of people unemployed in Russia was 6.4 million, or 8.5 perc
Published 20 Mar, 2009 12:00am
RBS cancels luxury jet, may lose deposit

RBS cancels luxury jet, may lose deposit

British taxpayers may have to foot the bill for a $4 million lost deposit on a private jet ordered for top Royal Bank of Scotland executives that will never be used, the French manufacturer said on Thursday. The recently bailed-out bank is among a list of
Published 20 Mar, 2009 12:00am
RBS cancels luxury jet, may lose deposit

RBS cancels luxury jet, may lose deposit

British taxpayers may have to foot the bill for a $4 million lost deposit on a private jet ordered for top Royal Bank of Scotland executives that will never be used, the French manufacturer said on Thursday. The recently bailed-out bank is among a list of
Published 20 Mar, 2009 12:00am
Pakistan to get good news soon: Iranian envoy

Pakistan to get good news soon: Iranian envoy

Iranian Ambassador to Pakistan Mashallah Shahkari on Thursday said that Pakistan would get good news on Iran-Pakistan-India (IPI) gas pipeline project soon. He said this while talking to media during his visit to the National Press Club here on Thursday.
Published 20 Mar, 2009 12:00am
Gold dips in Asian market

Gold dips in Asian market

Gold slipped more than 1 percent to briefly dip below $930 on Thursday after surging late the previous session to a two-week high following the Federal Reserves surprise move to buy long-dated US government debt. Gold was at $931.20 per ounce at 0649 GMT
Published 20 Mar, 2009 12:00am
Pakistan to get good news soon: Iranian envoy

Pakistan to get good news soon: Iranian envoy

Iranian Ambassador to Pakistan Mashallah Shahkari on Thursday said that Pakistan would get good news on Iran-Pakistan-India (IPI) gas pipeline project soon. He said this while talking to media during his visit to the National Press Club here on Thursday.
Published 20 Mar, 2009 12:00am
US gold lower

US gold lower

US gold futures ended 3 percent lower on Wednesday, trading near a six-week low on forced liquidation related to margin calls as an increase in investor appetite for risk diminished bullions safe-haven appeal. Gold for April delivery settled down $27.70,
Published 20 Mar, 2009 12:00am
Zardari not satisfied with Iranian gas price offer

Zardari not satisfied with Iranian gas price offer

President Asif Ali Zardari has said that let the new parliament of Iran decides about gas price regarding the Iran-Pakistan-India (IPI) gas pipeline project. Sources revealed to the Business Recorder on Thursday that in a high level meeting held in
Published 20 Mar, 2009 12:00am
Oil prices rise above $49

Oil prices rise above $49

Oil rallied above $49 a barrel on Thursday, after a surprise move by the Federal Reserve to buy government bonds on a large scale thrashed the dollar and revived hopes the battered US economy could soon begin its recovery. The US Federal Reserve on Wednes
Published 20 Mar, 2009 12:00am
Zardari not satisfied with Iranian gas price offer

Zardari not satisfied with Iranian gas price offer

President Asif Ali Zardari has said that let the new parliament of Iran decides about gas price regarding the Iran-Pakistan-India (IPI) gas pipeline project. Sources revealed to the Business Recorder on Thursday that in a high level meeting held in
Published 20 Mar, 2009 12:00am
Malaysian tin drops

Malaysian tin drops

Malaysian tin fell 2.6 percent on Thursday after sharp falls on the London Metal Exchange and a build-up in supplies, one dealer said.
Published 20 Mar, 2009 12:00am
Malaysian palm oil gains

Malaysian palm oil gains

Malaysian crude palm oil futures inched higher on Thursday as oil markets surged but top vegetable oil buyer India cuttion rival soyoil dented some sentiment. Indias latest move feeds into fears that demand for palm oil would not be sustained beyond the s
Published 20 Mar, 2009 12:00am
New York sugar ends at two-week top

New York sugar ends at two-week top

Raw sugar futures settled at a two-week high on Wednesday as investor fund buying spurred in part by consumer offtake and analysts feel the markets momentum should drive the sweetener higher this week. The key May raw sugar contract gained 0.13 cent to en
Published 20 Mar, 2009 12:00am
US soyabean futures up

US soyabean futures up

US soyabean futures closed firm in the nearby months on Wednesday with tight soya stocks and firm cash lifting prices but deferred months were lower on bull-spreading. May soya was up 2 cents per bushel at $9.15 per bushel. Support stemming from concern a
Published 20 Mar, 2009 12:00am
Tokyo rubber falls

Tokyo rubber falls

Key Tokyo rubber futures fell on Thursday, coming under pressure from a jump in the yen versus the dollar after a surprise move by the Federal Reserve to buy up to $300 billion worth of long-dated US government debt. But declines were limited by a rally i
Published 20 Mar, 2009 12:00am
Pakistan to get good news soon: Iranian envoy

Pakistan to get good news soon: Iranian envoy

Iranian Ambassador to Pakistan Mashallah Shahkari on Thursday said that Pakistan would get good news on Iran-Pakistan-India (IPI) gas pipeline project soon. He said this while talking to media during his visit to the National Press Club here on Thursday.
Published 20 Mar, 2009 12:00am
Indian soyaoil dips

Indian soyaoil dips

Indian soyaoil futures fell more than 3 percent by Wednesday afternoon, breaching the lower circuit, after a top official said the government had cut import duty. Trade Secretary G.K. Pillai did not give any details, but traders said import tax on crude s
Published 20 Mar, 2009 12:00am
Thai rubber exports rise

Thai rubber exports rise

Thai rubber exports rose 11.5 percent in February from a year earlier as suppliers filled orders placed during the January holiday period, government and industry officials said on Thursday. A rubber industry official said there was little new demand in F
Published 20 Mar, 2009 12:00am
US rice makes gains

US rice makes gains

US rice futures closed higher on Wednesday on support from news Iraq bought 120,000 tonnes of US rice and 90,000 tonnes South American rice. May was up 13-1/2 cents per cwt at $12.09 per cwt. Asian rice prices supported despite thin demand. Japan must aim
Published 20 Mar, 2009 12:00am
Petroleum policy likely to be announced today

Petroleum policy likely to be announced today

Petroleum Ministry is expected to notify new Petroleum Policy 2009 today (Friday) as members of sub-committee of Economic Co-ordination Committee (ECC) of the cabinet have signed the draft of the policy, a prerequisite prior to the issuance of the notific
Published 20 Mar, 2009 12:00am
Shanghai copper climbs

Shanghai copper climbs

Copper climbed to four-month highs on Thursday, fuelling a rally in base metals on hopes that demand would get a boost from the US Federal Reserves plan to buy long-term Treasury bonds on a large scale to fight recession. The move sent Asian stocks to a f
Published 20 Mar, 2009 12:00am
22 listed banks cumulative profit declines 21 percent

22 listed banks cumulative profit declines 21 percent

The cumulative profit of 22 listed commercial banks have declined by 21 percent to Rs 50.3 billion in the year 2008 as compared to Rs 63.6 billion earned in the same period in 2007, mainly due to higher provisions for non-performing loans (NPLs) and impai
Published 20 Mar, 2009 12:00am
Steady mode on cotton market

Steady mode on cotton market

After some signs of weakness seen over the last couple of days, the ready cotton market has assumed a steady stance with resumption of increased turnover. Settlement of political differences culminating on the resumption of Iftikhar Mohammad Chaudhry as C
Published 20 Mar, 2009 12:00am
22 listed banks cumulative profit declines 21 percent

22 listed banks cumulative profit declines 21 percent

The cumulative profit of 22 listed commercial banks have declined by 21 percent to Rs 50.3 billion in the year 2008 as compared to Rs 63.6 billion earned in the same period in 2007, mainly due to higher provisions for non-performing loans (NPLs) and impai
Published 20 Mar, 2009 12:00am
US copper slips

US copper slips

US copper futures started lower on Wednesday after a small rise in copper inventories, then added to losses when US equity markets moved down as traders took a defensive position before the Federal Reserve releases its policy statement later today. Copper
Published 20 Mar, 2009 12:00am
22 listed banks cumulative profit declines 21 percent

22 listed banks cumulative profit declines 21 percent

The cumulative profit of 22 listed commercial banks have declined by 21 percent to Rs 50.3 billion in the year 2008 as compared to Rs 63.6 billion earned in the same period in 2007, mainly due to higher provisions for non-performing loans (NPLs) and impai
Published 20 Mar, 2009 12:00am
Steady mode on cotton market

Steady mode on cotton market

After some signs of weakness seen over the last couple of days, the ready cotton market has assumed a steady stance with resumption of increased turnover. Settlement of political differences culminating on the resumption of Iftikhar Mohammad Chaudhry as C
Published 20 Mar, 2009 12:00am
Bullish sentiment continues

Bullish sentiment continues

Bullish trend continued on Karachi Stock Exchange on the fourth consecutive day on the back of good corporate results, improving economic indicators and political situation in the country and the benchmark KSE-100 index surged by 175.00 points to close at
Published 20 Mar, 2009 12:00am
Activity to gain momentum on cotton market

Activity to gain momentum on cotton market

Modest trading was seen on the cotton market on Thursday as a few mills indulged in the new purchases, dealers said. The official spot rate was unchanged at Rs 3150, they said. The phutti prices in both the Punjab and Sindh were at Rs 1500-1600. In the re
Published 20 Mar, 2009 12:00am
Bullish sentiment continues

Bullish sentiment continues

Bullish trend continued on Karachi Stock Exchange on the fourth consecutive day on the back of good corporate results, improving economic indicators and political situation in the country and the benchmark KSE-100 index surged by 175.00 points to close at
Published 20 Mar, 2009 12:00am
Indonesias sugar cane crushing to start, output seen up

Indonesias sugar cane crushing to start, output seen up

Indonesias sugar cane crushing season is on track to start in early April given favourable weather, with output seen rising nearly 4 percent from a year ago, industry officials said on Thursday. Indonesias sugar cane output is estimated to rise to 33.5 mi
Published 20 Mar, 2009 12:00am
Bullish sentiment continues

Bullish sentiment continues

Bullish trend continued on Karachi Stock Exchange on the fourth consecutive day on the back of good corporate results, improving economic indicators and political situation in the country and the benchmark KSE-100 index surged by 175.00 points to close at
Published 20 Mar, 2009 12:00am
Rates move both ways in thin business on grain market

Rates move both ways in thin business on grain market

Sluggish business was seen on the wholesale grain market on Thursday as many buyers were on the sidelines to see further fall in the rates, dealers said. On the cereals side, wheat old and new both types lost Rs 25 to Rs 2450-2465 in process of slow tradi
Published 20 Mar, 2009 12:00am
Petroleum policy likely to be announced today

Petroleum policy likely to be announced today

Petroleum Ministry is expected to notify new Petroleum Policy 2009 today (Friday) as members of sub-committee of Economic Co-ordination Committee (ECC) of the cabinet have signed the draft of the policy, a prerequisite prior to the issuance of the notific
Published 20 Mar, 2009 12:00am
Tea items mixed on Jodia Bazaar

Tea items mixed on Jodia Bazaar

The trading in tea items moved both ways on Jodia Bazaar here on Thursday. The following changes were noted.
Published 20 Mar, 2009 12:00am
Petroleum policy likely to be announced today

Petroleum policy likely to be announced today

Petroleum Ministry is expected to notify new Petroleum Policy 2009 today (Friday) as members of sub-committee of Economic Co-ordination Committee (ECC) of the cabinet have signed the draft of the policy, a prerequisite prior to the issuance of the notific
Published 20 Mar, 2009 12:00am
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