News Archives for Print - 2009-04-15

New York cotton

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

Published 15 Apr, 2009 01:00am

Refund claims' cheques lost at Karachi Care Collectorate

The cheques of refund claims worth million of rupees of over dozens of tanners and leather exporting companies of Lahore and Karachi have either been misplaced or stolen at the Care Collectorate Karachi office.

Published 15 Apr, 2009 01:00am

New York cotton

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

Published 15 Apr, 2009 01:00am

Refund claims' cheques lost at Karachi Care Collectorate

The cheques of refund claims worth million of rupees of over dozens of tanners and leather exporting companies of Lahore and Karachi have either been misplaced or stolen at the Care Collectorate Karachi office.

Published 15 Apr, 2009 01:00am

Aaj TV - Wednesday's schedule

All timings are in PST (Pakistan Standard Time).

Published 15 Apr, 2009 01:00am

Budget proposals: LCCI demands to bring down GST rate from 16 percent to 12 percent

The Lahore Chamber of Commerce and Industry (LCCI) has demanded of the government to bring down the prevailing rate of General Sales Tax from 16 percent to 12 percent. In its budget proposals, the LCCI President Mian Muzaffar Ali asked to the federal gove

Published 15 Apr, 2009 01:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 130,282 tonnes of cargo including 94,944 tonnes of import and 35,338 tonnes of export, 3,030 loaded and empty containers (TEUs) during last 24 hours ending at 0700 hours on Tuesday. The freights comprised of 75,883 tonnes of dry c

Published 15 Apr, 2009 01:00am

Budget proposals: LCCI demands to bring down GST rate from 16 percent to 12 percent

The Lahore Chamber of Commerce and Industry (LCCI) has demanded of the government to bring down the prevailing rate of General Sales Tax from 16 percent to 12 percent. In its budget proposals, the LCCI President Mian Muzaffar Ali asked to the federal gove

Published 15 Apr, 2009 01:00am

Canadian canola futures end higher

ICE Canadian canola closed higher Monday as support from rising soyabean prices overcame a stronger Canadian dollar and weaker oil price that weighed on canola. The May/July spread traded 2,139 times between $3.60 and $5.80 under the July; the July-Novemb

Published 15 Apr, 2009 01:00am

Sindh to start Rs 3,075 million special economic zones project

A project of Rs 3075 million to establish Special Economic Zones (SEZ) in interior Sindh is about to commence as the Sindh government has selected the National Industrial Park (NIP) to conduct feasibility study of the project. Sources in Planning and Deve

Published 15 Apr, 2009 01:00am

KCBT wheat futures end two-sided session lower

Hard red winter wheat futures on the Kansas City Board of Trade ended lower on Monday, closing out a two-sided session that saw wheat largely a follower to outside markets. The KCBT May ranged from $5.64 to $5.78-1/4, before ending down 1/2 cent at $5.70.

Published 15 Apr, 2009 01:00am

Afghanistan warns Pakistan against implementing Sharia law

Afghanistan warned on Tuesday that Pakistan's deal to allow Taliban to impose Sharia law in part of the country may have "dire consequences" for the region and could harm ties between the neighbours. The criticism came after President Asif Ali Zardari sig

Published 15 Apr, 2009 01:00am

FOB Gulf soya offers firm on good demand, corn steady

US soyabean export premiums at the Gulf of Mexico were steady to firm on Monday, supported by good demand and higher CIF barge values, traders said. Corn basis offers were steady and wheat offers were flat to lower. Recent good demand for US soyabeans sup

Published 15 Apr, 2009 01:00am

PAFL earns highest profit in fertiliser sector

Pak-Arab Fertiliser Limited (PAFL) earned after tax profit amounting to Rs 7,160.29 million for the year ended on December 31, 2008, which surpassed earnings of all other companies operating in the sector. The comparable profit of other companies, which s

Published 15 Apr, 2009 01:00am

US corn futures end lower

US corn futures on the Chicago Board of Trade closed lower on Monday following the weakness in crude oil and the equity markets, traders said. Outlooks for improving weather for planting in the US western Midwest also weighed on prices. May corn ended 2-3

Published 15 Apr, 2009 01:00am

PAFL earns highest profit in fertiliser sector

Pak-Arab Fertiliser Limited (PAFL) earned after tax profit amounting to Rs 7,160.29 million for the year ended on December 31, 2008, which surpassed earnings of all other companies operating in the sector. The comparable profit of other companies, which s

Published 15 Apr, 2009 01:00am

US Midwest corn and soyabean bids mostly unchanged

Spot basis bids for soyabeans and corn held steady at most processors and elevators around the US Midwest on Monday, grain dealers said. Farmers were booking small amounts of soyabeans due to a futures market rally that pushed cash prices to more than $10

Published 15 Apr, 2009 01:00am

PAFL earns highest profit in fertiliser sector

Pak-Arab Fertiliser Limited (PAFL) earned after tax profit amounting to Rs 7,160.29 million for the year ended on December 31, 2008, which surpassed earnings of all other companies operating in the sector. The comparable profit of other companies, which s

Published 15 Apr, 2009 01:00am

Cameroon cocoa farm-gate prices rise in April

Cocoa farm-gate prices in Cameroon rose during the first two weeks of April as demand picked up after a slight fall in March, farmers said on Tuesday. Prices in the world's fifth-biggest producer peaked in February when the main crop ended and world price

Published 15 Apr, 2009 01:00am

MQM boycotts National Assembly proceedings

The lawmakers of Muttahida Quami Movement (MQM) on Tuesday boycotted the proceedings of the National Assembly, apparently protesting against the adoption of the resolution in the National Assembly, endorsing the Nizam-e-Adl regulation. The MQM members on

Published 15 Apr, 2009 01:00am

Germany to ban cultivation of Monsanto GMO maize

Germany will ban cultivation and sale of genetically modified (GMO) maize, Agriculture Minister Ilse Aigner said on Tuesday. The ban affects US biotech company Monsanto's MON 810 maize which may no longer be sown for this summer's harvest, Aigner told a n

Published 15 Apr, 2009 01:00am

MQM boycotts National Assembly proceedings

The lawmakers of Muttahida Quami Movement (MQM) on Tuesday boycotted the proceedings of the National Assembly, apparently protesting against the adoption of the resolution in the National Assembly, endorsing the Nizam-e-Adl regulation. The MQM members on

Published 15 Apr, 2009 01:00am

Cotton market remains stable on continuous buying by mills

Active mills' demand was again witnessed on the cotton market on Tuesday as ginners were keen to dispose of old stock before new arrivals, dealers said. The official spot rate was unmoved at Rs 3450. The Phutti prices in Sindh and Punjab were at Rs 1700-1

Published 15 Apr, 2009 01:00am

15 people drowned in River Indus

Fifteen people drowned in River Sindh in Mianwali as the boat overturned here on Tuesday. 15 people including 3 children and 2 women were going to the other side of the River Sindh in Kundian near District Mianwali when the boat suddenly overturned and al

Published 15 Apr, 2009 01:00am

CBOT wheat futures end firm

US wheat futures closed higher on Monday on short-covering but gains were limited by a big global supply of wheat and forecasts for rain in drier areas of the US Plains HRW wheat region. May wheat was up 1 cent per bushel at $5.23 per bushel. Funds bought

Published 15 Apr, 2009 01:00am

15 people drowned in River Indus

Fifteen people drowned in River Sindh in Mianwali as the boat overturned here on Tuesday. 15 people including 3 children and 2 women were going to the other side of the River Sindh in Kundian near District Mianwali when the boat suddenly overturned and al

Published 15 Apr, 2009 01:00am

Grams prices sharply higher on grain market

Grams prices were sharply higher on the wholesale grain and seed market on Tuesday while the wheat prices fell slightly in process of trading, dealers said. On the grams side, gram 50x50 low type was up by Rs 200 to Rs 2950 and better quality was higher b

Published 15 Apr, 2009 01:00am

Bulls remain on front seat at ISE

Bulls remained in the front seat at the Islamabad Stock Exchange (ISE) on Tuesday where equities showed healthy signs under the lead of trend-setters amid increase in index. ISE-10 Index showed an improvement of 2.25 points from 1,801,52 to 1,799.27 point

Published 15 Apr, 2009 01:00am

Asian crude: Middle East heavies down, Asia-Pacific eyes tenders

The Middle East crude market for June looks to gather steam over the next few days with many players back in the office after a holiday weekend, traders said on Tuesday, with sentiment for heavier crudes weaker than last month. Traders on the Asia-Pacific

Published 15 Apr, 2009 01:00am

Bulls remain on front seat at ISE

Bulls remained in the front seat at the Islamabad Stock Exchange (ISE) on Tuesday where equities showed healthy signs under the lead of trend-setters amid increase in index. ISE-10 Index showed an improvement of 2.25 points from 1,801,52 to 1,799.27 point

Published 15 Apr, 2009 01:00am

Shanghai copper falls by daily limit

Shanghai copper futures fell by their 5 percent daily limit on Tuesday as investors cashed in on three days of gains and London copper fizzled after an early surge to a six-month high. The Chinese market had rallied 10 percent in the previous two session

Published 15 Apr, 2009 01:00am

Equities move both ways on LSE

Equities moved both ways on Lahore Stock Exchange on Tuesday and settled in the red zone due to selling pressure on account of profit taking in banking, fertiliser and cement sectors. The LSE-25 index declined by 7.96 points at 2389.14 against 2397.10 of

Published 15 Apr, 2009 01:00am

US rice falls

US rice futures on the Chicago Board of Trade (CboT) fell on profit-taking on Monday after on Thursday's 50-cent limit rally, spurred by USDA's smaller end-season rice stock forecast, traders said. May rice closed 11 cents weaker at $13.28-1/2 per hundred

Published 15 Apr, 2009 01:00am

Equities move both ways on LSE

Equities moved both ways on Lahore Stock Exchange on Tuesday and settled in the red zone due to selling pressure on account of profit taking in banking, fertiliser and cement sectors. The LSE-25 index declined by 7.96 points at 2389.14 against 2397.10 of

Published 15 Apr, 2009 01:00am

Japan seeks to buy 61,300 tonnes food wheat

Japan's Ministry of Agriculture seeks to buy 61,300 tonnes of food wheat, 33,400 tonnes of food barley and 15,250 tonnes of beer barley in two types of tenders under the simultaneous buy and sell (SBS) system, all closing on April 15, a ministry official

Published 15 Apr, 2009 01:00am

Economists expect surprise cut in interest rate: Monetary Policy on April 20

Economists expect the State Bank of Pakistan (SBP) would announce interest rate cut by some 100-200 basis points in the next monetary policy to relieve the under-stress economy. SBP said on Tuesday said that it would announce monetary policy statement for

Published 15 Apr, 2009 01:00am

Oil falls to $49 in Asian market

Oil slid more than $1 to under $49 on Tuesday, extending the previous day's drop as caution grew ahead of the release of US weekly data that could show a rise in crude stocks for the world's top energy user. The grim US inventory report is likely to confi

Published 15 Apr, 2009 01:00am

Economists expect surprise cut in interest rate: Monetary Policy on April 20

Economists expect the State Bank of Pakistan (SBP) would announce interest rate cut by some 100-200 basis points in the next monetary policy to relieve the under-stress economy. SBP said on Tuesday said that it would announce monetary policy statement for

Published 15 Apr, 2009 01:00am

US soya ticks down

Chicago soyabean and corn futures edged lower on Tuesday, dragged down by weaker crude oil prices, with forecasts for better weather in the US crop belt weighing on corn. "It is crude oil's decline, as oil is a good indicator for agricultural commodities,

Published 15 Apr, 2009 01:00am

Economists expect surprise cut in interest rate: Monetary Policy on April 20

Economists expect the State Bank of Pakistan (SBP) would announce interest rate cut by some 100-200 basis points in the next monetary policy to relieve the under-stress economy. SBP said on Tuesday said that it would announce monetary policy statement for

Published 15 Apr, 2009 01:00am

New York sugar finishes at three-week top

Raw sugar futures finished at a three-week high on investor fund buying following news that India is allowing duty-free imports of the sweetener and the market could punch higher this week, brokers said. The sugar market was closed Friday for a holiday.

Published 15 Apr, 2009 01:00am

Pak Oman sues Progas for Rs 48 million recovery

Pak Oman Investment Company Limited has sued, in the Banking Court, its client Progas Pakistan Limited, a Karachi-based liquefied petroleum gas (LPG) marketing company for recovery of Rs 48 million, according to court documents available with Business

Published 15 Apr, 2009 01:00am

Tokyo rubber futures slip

Tokyo rubber futures slipped from a five-month high on Tuesday, weighed down by a 4 percent drop in oil prices and growing investor caution as prices approached the key 180 yen. Rubber futures have been supported by buying from funds on improved technical
Published 15 Apr, 2009 01:00am

Pak Oman sues Progas for Rs 48 million recovery

Pak Oman Investment Company Limited has sued, in the Banking Court, its client Progas Pakistan Limited, a Karachi-based liquefied petroleum gas (LPG) marketing company for recovery of Rs 48 million, according to court documents available with Business
Published 15 Apr, 2009 01:00am

US soyabean futures higher

US soyabean futures on the Chicago Board of Trade rose on Monday amid continue strong demand for American soya from China and rally in soyaoil, traders said. Soya complex brushed off the weakness from lower crude oil and equity markets. May soyabeans ende
Published 15 Apr, 2009 01:00am

Pak Oman sues Progas for Rs 48 million recovery

Pak Oman Investment Company Limited has sued, in the Banking Court, its client Progas Pakistan Limited, a Karachi-based liquefied petroleum gas (LPG) marketing company for recovery of Rs 48 million, according to court documents available with Business
Published 15 Apr, 2009 01:00am

Malaysian tin ends higher

Malaysian tin rose 1.0 percent on Tuesday after a technical correction, triggering support from European buyers, one dealer said.
Published 15 Apr, 2009 01:00am

Rupee-dollar parity could stretch beyond 81.50

The biggest challenge that the country is facing is to stimulate economy. IMF''s downward revision of GDP growth to 2.5 percent, supported by SBP certainly does not bode well, as slowdown means severe cut in spending, fewer jobs, risk of rise in poverty.
Published 15 Apr, 2009 01:00am

New York gold ends higher

US gold futures ended higher amid thin trade on Monday as the dollar weakened and platinum rose more than 4 percent on fund buying and signs of recovering Chinese demand. Gold for June delivery settled up $12.50, or 1.4 percent, at $895.80 an ounce on the
Published 15 Apr, 2009 01:00am

Rupee-dollar parity could stretch beyond 81.50

The biggest challenge that the country is facing is to stimulate economy. IMF's downward revision of GDP growth to 2.5 percent, supported by SBP certainly does not bode well, as slowdown means severe cut in spending, fewer jobs, risk of rise in poverty. B
Published 15 Apr, 2009 01:00am

Gold ends steady above 890 dollars

Spot gold edged up on Tuesday, supported by a weakening dollar and bullish technical views, but the yellow metal looked capped at $900 per ounce a day after failing to break above that level. Investors were watching stock market moves to gauge risk appeti
Published 15 Apr, 2009 01:00am

Rupee-dollar parity could stretch beyond 81.50

The biggest challenge that the country is facing is to stimulate economy. IMF's downward revision of GDP growth to 2.5 percent, supported by SBP certainly does not bode well, as slowdown means severe cut in spending, fewer jobs, risk of rise in poverty. B
Published 15 Apr, 2009 01:00am

Malaysian palm oil ends at eight-month high

Malaysian palm futures jumped 6.4 precent to a new high in nearly eight months on Tuesday amid market talk that key data, due to be released tomorrow, will show strong exports in the first 15 days of April, traders said. "The entire scene is bullish," a t
Published 15 Apr, 2009 01:00am

Proposal on 1,000 megawatts power from Central Asia vetoed by Cabinet

The Cabinet has ''vetoed'' a long-debated proposal of the Ministry of Water and Power regarding import of 1000 MW electricity from Central Asia -South Asia (CASA) until the project''s tariff, economic feasibility and other issues are resolved, sources clo
Published 15 Apr, 2009 01:00am

Obama to tap Fannie Mae chief executive to head TARP

The Obama administration is expected to name Fannie Mae Chief Executive Herb Allison to head the US government's $700 billion financial rescue program, a source familiar with the matter said on Monday. The announcement is expected "in coming days," the so
Published 15 Apr, 2009 01:00am

Proposal on 1,000 megawatts power from Central Asia vetoed by Cabinet

The Cabinet has 'vetoed' a long-debated proposal of the Ministry of Water and Power regarding import of 1000 MW electricity from Central Asia -South Asia (CASA) until the project's tariff, economic feasibility and other issues are resolved, sources close
Published 15 Apr, 2009 01:00am

EU takes Poland to court over pension fund curbs

The European Commission took Poland to court on Tuesday over the country's cap on privately managed pension funds' investments abroad. Poland allows its pension funds, the mandatory second pillar of the pension system, to invest only up to 5 percent of ce
Published 15 Apr, 2009 01:00am

Proposal on 1,000 megawatts power from Central Asia vetoed by Cabinet

The Cabinet has 'vetoed' a long-debated proposal of the Ministry of Water and Power regarding import of 1000 MW electricity from Central Asia -South Asia (CASA) until the project's tariff, economic feasibility and other issues are resolved, sources close
Published 15 Apr, 2009 01:00am

EU takes Poland to court over pension fund curbs

The European Commission took Poland to court on Tuesday over the country's cap on privately managed pension funds' investments abroad. Poland allows its pension funds, the mandatory second pillar of the pension system, to invest only up to 5 percent of ce
Published 15 Apr, 2009 01:00am

BRIndex30 down 96.59 points

On Tuesday, the BRIndex30 opened in the positive zone, at 7,628.76, with an upward gap of 84.23 points. It closed at 7,447.94 with a net negative change of -96.59 points and percentage change of -1.28. It experienced intra-day high of 7,663.84 and low of
Published 15 Apr, 2009 01:00am

Merkel summons experts to assess downturn

German Chancellor Angela Merkel will meet top economic experts, bankers and company bosses next week to assess the economic crisis. "This is quite specifically not a question of a third stimulus programme," a government spokesman said. The outcome of the
Published 15 Apr, 2009 01:00am

BRIndex30 down 96.59 points

On Tuesday, the BRIndex30 opened in the positive zone, at 7,628.76, with an upward gap of 84.23 points. It closed at 7,447.94 with a net negative change of -96.59 points and percentage change of -1.28. It experienced intra-day high of 7,663.84 and low of
Published 15 Apr, 2009 01:00am

'Taking over banks would be costlier'

US President Barack Obama said on Tuesday that pre-emptively taking over troubled banks would end up costing taxpayers more money and undermining already shaky confidence. He dismissed criticism that his refusal to nationalise banks was another example of
Published 15 Apr, 2009 01:00am

Volatile situation on KSE

Karachi share market on Tuesday opened in the positive zone and the benchmark KSE-100 index breached 8,000 psychological level to hit 8,009.80 points intra-day high on the back of aggressive buying by local institutions and retail investors. However, this
Published 15 Apr, 2009 01:00am

Obama sees economic progress

President Barack Obama, updating the American people on Tuesday, believes there are signs of recovery in the US recession-hit economy but "by no means are we out of the woods just yet." Shortly before he was to deliver his latest economic speech at George
Published 15 Apr, 2009 01:00am

Volatile situation on KSE

Karachi share market on Tuesday opened in the positive zone and the benchmark KSE-100 index breached 8,000 psychological level to hit 8,009.80 points intra-day high on the back of aggressive buying by local institutions and retail investors. However, this
Published 15 Apr, 2009 01:00am

US job losses, falling GDP ahead: White House adviser

White House economic adviser Christina Romer said on Tuesday that the United States will experience continued job losses and a falling gross domestic product for several more months. "We know the economy's still sick. We know we've got several more months
Published 15 Apr, 2009 01:00am

Volatile situation on KSE

Karachi share market on Tuesday opened in the positive zone and the benchmark KSE-100 index breached 8,000 psychological level to hit 8,009.80 points intra-day high on the back of aggressive buying by local institutions and retail investors. However, this
Published 15 Apr, 2009 01:00am

US retail sales, producer prices fall unexpectedly

Sales at US retailers unexpectedly fell in March after two months of increases, a government report showed on Tuesday, dimming hopes the recession was close to hitting bottom. However, Federal Reserve Chairman Ben Bernanke stayed upbeat and referenced the
Published 15 Apr, 2009 01:00am

KSE to end ''odd-lot trading'' system: short selling rules to be changed

The board of directors of Karachi Stock Exchange (KSE) in its meeting on Tuesday decided to end ''odd-lot trading'' system, and to amend the regulations of short selling. The KSE board also decided to change Friday''s trading timings, according to which t
Published 15 Apr, 2009 01:00am

General Motors recalls 1.5 million vehicles

General Motors Corp is recalling nearly 1.5 million Buick, Chevrolet, Oldsmobile and Pontiac mid-sized cars due to a potential leak of engine oil that could cause an engine fire. The recall applies to the 1997-2003 Buick Regal; 1998-2003 Chevrolet Lumina,
Published 15 Apr, 2009 01:00am

KSE to end 'odd-lot trading' system: short selling rules to be changed

The board of directors of Karachi Stock Exchange (KSE) in its meeting on Tuesday decided to end 'odd-lot trading' system, and to amend the regulations of short selling. The KSE board also decided to change Friday's trading timings, according to which the
Published 15 Apr, 2009 01:00am

Bernanke sees tentative signs of economy stabilising

US Federal Reserve Chairman Ben Bernanke said Tuesday the latest figures on housing and consumer spending suggest a rapid contraction in the economy could be easing. "Recently we have seen tentative signs that the sharp decline in economic activity may be
Published 15 Apr, 2009 01:00am

KSE to end 'odd-lot trading' system: short selling rules to be changed

The board of directors of Karachi Stock Exchange (KSE) in its meeting on Tuesday decided to end 'odd-lot trading' system, and to amend the regulations of short selling. The KSE board also decided to change Friday's trading timings, according to which the
Published 15 Apr, 2009 01:00am

S&P cuts Taiwan's outlook to negative

Standard & Poor's cut its outlook on Taiwan's 'AA-minus' credit ratings to 'negative' from 'stable' on Tuesday, saying the government's fiscal position could worsen over the next two to three years. Despite Taiwan's strong external position, including mor
Published 15 Apr, 2009 01:00am

Shafqat Sultana made FWBL president

Ms Shafqat Sultana has been appointed as president of the First Women''s Bank Limited (FWBL) with immediate effect. This was announced by the spokesperson of the FWBL, Shaheen Zamir, here on Tuesday. She said that Ms Shafqat Sultana will take charge of he
Published 15 Apr, 2009 01:00am

Saudi central bank cuts reverse repo rate, holds benchmark

Saudi Arabia's central bank on Tuesday cut by a third the interest rate it pays to commercial banks for deposits but kept its benchmark repurchase rate unchanged in a bid to spur more lending to businesses and households. The reverse repurchase rate was c
Published 15 Apr, 2009 01:00am

Shafqat Sultana made FWBL president

Ms Shafqat Sultana has been appointed as president of the First Women's Bank Limited (FWBL) with immediate effect. This was announced by the spokesperson of the FWBL, Shaheen Zamir, here on Tuesday. She said that Ms Shafqat Sultana will take charge of her
Published 15 Apr, 2009 01:00am

EU starts action against Britain over data privacy

The European Commission started legal action against Britain on Tuesday for what the EU executive called a failure to keep people's online details confidential. EU Telecoms Commissioner Viviane Reding said the action related to how Internet service provid
Published 15 Apr, 2009 01:00am

Shafqat Sultana made FWBL president

Ms Shafqat Sultana has been appointed as president of the First Women's Bank Limited (FWBL) with immediate effect. This was announced by the spokesperson of the FWBL, Shaheen Zamir, here on Tuesday. She said that Ms Shafqat Sultana will take charge of her
Published 15 Apr, 2009 01:00am

Thousands more UBS job cuts seen, 240 axed in Asia

Swiss bank UBS is set to cut thousands more jobs in a fresh global wave of redundancies, banking sources said, after the bank axed 3 percent of its Asia-Pacific workforce on Tuesday. One source said the latest jobs cull could cut up to 15 to 20 percent of
Published 15 Apr, 2009 01:00am

Death of foremen in crane fall: Bangladeshi ship under arrest at Karachi Port

A Bangladeshi ship, on which an incident of crane collapse had crushed two stevedoring staffers to death early this month, is under arrest at Karachi Port for the last couple of weeks after a court order. Winch number 4 of mv Bengalor Mamta, a Bangladeshi
Published 15 Apr, 2009 01:00am

Thousands more UBS job cuts seen, 240 axed in Asia

Swiss bank UBS is set to cut thousands more jobs in a fresh global wave of redundancies, banking sources said, after the bank axed 3 percent of its Asia-Pacific workforce on Tuesday. One source said the latest jobs cull could cut up to 15 to 20 percent of
Published 15 Apr, 2009 01:00am

Iran expects major energy deals with Europe and India

Iran expects to finalise two energy contracts totalling $7 billion with an unnamed European firm and with India's state-run Oil and Natural Gas Corp respectively, state broadcaster IRIB said on Tuesday. Citing Mahmoud Zirakchian-zadeh, managing director o
Published 15 Apr, 2009 01:00am

Shell in talks with Chinese firms for Iraq oilfield bid

Royal Dutch Shell is in talks with Chinese companies to jointly bid for rights to develop an oil field in Iraq, the Anglo-Dutch oil giant's chief executive officer said Tuesday. "We are... in the process of forming partnerships for a series of bids and Ch
Published 15 Apr, 2009 01:00am

Japan agrees to provide aid for KCR, two other projects

Japan has agreed to provide assistance for three projects, including Karachi Circular Railway project (KCR), sixth secondary transmission and grids project of Gujranwala Electric Power Company (Gepco) and New Khanki Barrage. Japan may make formal announce
Published 15 Apr, 2009 01:00am

Goldman Sachs calls repaying TARP a 'duty'

Goldman Sachs Group Inc has a "duty" to return the $10 billion it received in a US government bailout, as it moves to benefit from an expected recovery in capital markets, its chief financial officer said. The company was Wall Street's most profitable bef
Published 15 Apr, 2009 01:00am

Japan agrees to provide aid for KCR, two other projects

Japan has agreed to provide assistance for three projects, including Karachi Circular Railway project (KCR), sixth secondary transmission and grids project of Gujranwala Electric Power Company (Gepco) and New Khanki Barrage. Japan may make formal announce
Published 15 Apr, 2009 01:00am

IMF and Bosnia negotiate $1.31 billion arrangement

An International Monetary Fund (IMF) team was due in Sarajevo Monday to start talks on a 1-billion-euro (1.31 billion dollars) standby arrangement Bosnia needs to cover its budget shortfall.The former Yugoslav republic, consisting of two largely independe
Published 15 Apr, 2009 01:00am

Japan agrees to provide aid for KCR, two other projects

Japan has agreed to provide assistance for three projects, including Karachi Circular Railway project (KCR), sixth secondary transmission and grids project of Gujranwala Electric Power Company (Gepco) and New Khanki Barrage. Japan may make formal announce
Published 15 Apr, 2009 01:00am

Philips first-quarter swings to loss, to speed up cost cuts

Philips Electronics NV plans to speed up restructuring after swinging to a surprise first-quarter loss, as the global recession hit sales, and said it does not see its markets improving in the second quarter. "In the first quarter of 2009 we have seen a s
Published 15 Apr, 2009 01:00am

During 2008-2011: external debt to reach 32.5 percent of GDP: IMF

The International Monetary Fund (IMF) has projected the external debt stock of Pakistan to rise, temporarily, to around 32.5 percent of gross domestic product (GDP) during 2008-2011 due to significant increase in external financing from official creditors
Published 15 Apr, 2009 01:00am

Philips first-quarter swings to loss, to speed up cost cuts

Philips Electronics NV plans to speed up restructuring after swinging to a surprise first-quarter loss, as the global recession hit sales, and said it does not see its markets improving in the second quarter. "In the first quarter of 2009 we have seen a s
Published 15 Apr, 2009 01:00am

During 2008-2011: external debt to reach 32.5 percent of GDP: IMF

The International Monetary Fund (IMF) has projected the external debt stock of Pakistan to rise, temporarily, to around 32.5 percent of gross domestic product (GDP) during 2008-2011 due to significant increase in external financing from official creditors
Published 15 Apr, 2009 01:00am

Australian business conditions better, but jobs go

Australian business conditions recovered slightly in March, a survey showed on Tuesday, but remained near 17-year lows with depressed sales and profits forcing firms to cut jobs at a faster pace. The National Australia Bank's monthly measure of business c
Published 15 Apr, 2009 01:00am

During 2008-2011: external debt to reach 32.5 percent of GDP: IMF

The International Monetary Fund (IMF) has projected the external debt stock of Pakistan to rise, temporarily, to around 32.5 percent of gross domestic product (GDP) during 2008-2011 due to significant increase in external financing from official creditors
Published 15 Apr, 2009 01:00am

Modest Singapore devaluation signals rebound hopes

Singapore's central bank devalued its currency less aggressively than expected in a monetary policy review on Tuesday, signalling growing confidence that the global economy was bottoming out. The Monetary Authority of Singapore repeated what it had done i
Published 15 Apr, 2009 01:00am

Implementation of advice on tax reforms slow: IMF country report released

The International Monetary Fund (IMF) has observed that Pakistan has responded positively to the Fund''''s advice, but implementation of advice on some structural reforms, particularly tax reforms, is slow due to various considerations, including politica
Published 15 Apr, 2009 01:00am

Qantas heads towards first second-half loss in six years

Qantas Airways Ltd forecast on Tuesday its first second-half loss in six years and unveiled capacity and job cuts as Australia's biggest airline battles a slump in passenger demand and rising competition. Qantas, which like many other airlines is sufferin
Published 15 Apr, 2009 01:00am

Implementation of advice on tax reforms slow: IMF country report released

The International Monetary Fund (IMF) has observed that Pakistan has responded positively to the Fund''s advice, but implementation of advice on some structural reforms, particularly tax reforms, is slow due to various considerations, including political
Published 15 Apr, 2009 01:00am

Currency	Rate
USD PKR Interbank Selling / Sep 20	277.90
USD PKR Interbank Buying / Sep 20	277.70
USD to Japanese Yen / Sep 20	143.85
USD to Swiss Franc / Sep 20	0.85
Pound Sterling to USD / Sep 20	1.33
Euro to USD / Sep 20	1.12

Stock	Volume
S&P 500 / Sep 20	5,702.55
India Sensex / Sep 20	83,184.80
Tokyo Nikkei / Sep 20	37,723.91
Nasdaq / Sep 20	17,948.32
Hang Seng / Sep 20	18,258.57
FTSE 100 / Sep 20	8,229.99
Dow Jones / Sep 20	42,063.36
Germany DAX 30 / Sep 20	18,720.01

Item	Value
Crude Oil USD/Barrel / Sep 20	71.92
Karachi Cotton PKR/37.32 KG / Sep 20	18,935
Gold 10 Grams PKR / Sep 20	233,196
Gold Spot USD/Ounce / Sep 20	2,621.88
Cotton US¢/pound / Sep 20	73.52
Petrol/Litre / Sep 21	249.10

Stock	Price
786 Invest Ltd / Sep 21 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Sep 21 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Sep 21 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Sep 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Sep 21 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Sep 21 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Sep 21 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Sep 21 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Sep 21 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Sep 21 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Sep 21 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Sep 21 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Sep 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Sep 21 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Sep 21 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Sep 21 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Sep 21 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Sep 21 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Sep 21 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Sep 21 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Sep 21 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Sep 21 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Sep 21 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Sep 21 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Sep 21 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Sep 21 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Sep 21 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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