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Print - 2009-05-06
France wants 'maximalist' approach on hedge funds

France wants 'maximalist' approach on hedge funds

France will push for the toughest possible line on hedge fund oversight as it seeks to alter the text of proposed European Union rules, French Economy Minister Christine Lagarde said on Tuesday. The European Commission proposed a draft law last week that
Published 06 May, 2009 12:00am
France wants 'maximalist' approach on hedge funds

France wants 'maximalist' approach on hedge funds

France will push for the toughest possible line on hedge fund oversight as it seeks to alter the text of proposed European Union rules, French Economy Minister Christine Lagarde said on Tuesday. The European Commission proposed a draft law last week that
Published 06 May, 2009 12:00am
Brazil industry down in March

Brazil industry down in March

Industrial output in Brazil slumped for the fifth straight month in March on a year-on-year basis, underscoring the extent of a severe economic downturn that has forced many manufacturers to scale back production. Output tumbled 10 percent in March from t
Published 06 May, 2009 12:00am
Philippines inflation hits 16-month low

Philippines inflation hits 16-month low

Philippines inflation slowed to a 16-month low of 4.8 percent in April and a government official said on Tuesday annual changes in consumer prices could hit zero percent in July or August, raising the chances of more rate cuts. Like other central banks, t
Published 06 May, 2009 12:00am
Teva first quarter profit, sales rise, maintains outlook

Teva first quarter profit, sales rise, maintains outlook

Teva Pharmaceutical Industries, the world's biggest generic drugs maker, reported improved quarterly results, boosted by the speedy integration of Barr Pharmaceuticals, and forecast stronger growth in the second half of 2009. First quarter earnings beat a
Published 06 May, 2009 12:00am
Teva first quarter profit, sales rise, maintains outlook

Teva first quarter profit, sales rise, maintains outlook

Teva Pharmaceutical Industries, the world's biggest generic drugs maker, reported improved quarterly results, boosted by the speedy integration of Barr Pharmaceuticals, and forecast stronger growth in the second half of 2009. First quarter earnings beat a
Published 06 May, 2009 12:00am
Poland slashes 2010 growth forecast in budget plans

Poland slashes 2010 growth forecast in budget plans

Poland, battling a steep economic slowdown, approved on Tuesday an initial 2010 budget outline that envisages growth of just 0.5-1.3 percent next year and a source said it would also cut forecasts for growth this year. Poland, the European Union's largest
Published 06 May, 2009 12:00am
EDF mulls sale of British power grid

EDF mulls sale of British power grid

French utility EDF is considering selling its British power grid to help it pay for take-overs and new power plants, the Financial Times reported on Monday, citing sources close to EDF's board. EDF is considering a sale of the grid, estimated to be worth
Published 06 May, 2009 12:00am
Hannover Re turns more cautious about profit goal

Hannover Re turns more cautious about profit goal

Hannover Re has turned more wary about the outlook for capital markets this year, making its annual earnings goal tougher to reach despite forecast-beating profit in the first quarter. The world's fourth-biggest reinsurer on Tuesday said quarterly operati
Published 06 May, 2009 12:00am
Hannover Re turns more cautious about profit goal

Hannover Re turns more cautious about profit goal

Hannover Re has turned more wary about the outlook for capital markets this year, making its annual earnings goal tougher to reach despite forecast-beating profit in the first quarter. The world's fourth-biggest reinsurer on Tuesday said quarterly operati
Published 06 May, 2009 12:00am
Oil falls towards $54

Oil falls towards $54

Oil edged down towards $54 a barrel on Tuesday as investors paused for breath after a four-day rally, when hopes of economic recovery sent the contract to its highest settlement for 2009 in the previous session. A series of positive economic indicators fr
Published 06 May, 2009 12:00am
New York gold higher

New York gold higher

New York gold futures rose nearly 2 percent to a one-week high on Monday, finishing above $900 an ounce on a combination of weaker dollar, renewed inflation worries and signs of rising physical demand from top bullion consumer India. Gold for June deliver
Published 06 May, 2009 12:00am
The Weather

The Weather

The weather report on Tuesday (May 05, 2009) and the forecast for Wednesday (May 06, 2009).

Published 06 May, 2009 12:00am
Gold holds gains above $900 in Asia

Gold holds gains above $900 in Asia

Gold held firm above $900 an ounce on Tuesday after a weaker US dollar and higher oil prices lured investors back into the metal, although an increase in risk appetite and rebounding stock markets checked gains. Bullion jumped almost 2 percent on Monday i
Published 06 May, 2009 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (May 05, 2009).

Published 06 May, 2009 12:00am
Malaysian palm oil retreats

Malaysian palm oil retreats

Malaysian palm futures retreated on Tuesday after rising a day earlier to their highest in nine months amid renewed concerns that price rally could cut demand, despite of the current supply tightness situation, traders said. The benchmark July contract dr
Published 06 May, 2009 12:00am
Kenya's tea output falls

Kenya's tea output falls

Kenya's tea production fell 7 percent in the first quarter of 2009 to 65.8 million kg due to dry weather, the Tea Board of Kenya said on Tuesday. The regulator expects slightly higher earnings this year compared with the 62 billion shillings ($788.5 milli
Published 06 May, 2009 12:00am
New York sugar softer

New York sugar softer

Raw sugar futures finished easier Monday on mild profit-taking but the retreat was shallow and the market stayed near a 2-3/4-year high due to bullish technical and fundamental factors in the market, brokers said. The July raw sugar contracts slipped 0.03
Published 06 May, 2009 12:00am
Sarkozy calls for new Europe bank regulator

Sarkozy calls for new Europe bank regulator

French President Nicolas Sarkozy on Tuesday called for a new European banking regulator to be set up with "real powers" to impose sanctions. "France wants Europe to set up a committee of banking regulators with real powers of sanction," he said in a speec
Published 06 May, 2009 12:00am
US soya soars

US soya soars

US soyabean futures on the Chicago Board of Trade soared to a seven-month top on Monday, supported by tight domestic stocks and technical strength that is attracting fresh managed money into agricultural commodities, traders said. May soyabeans ended 13-1
Published 06 May, 2009 12:00am
Sarkozy calls for new Europe bank regulator

Sarkozy calls for new Europe bank regulator

French President Nicolas Sarkozy on Tuesday called for a new European banking regulator to be set up with "real powers" to impose sanctions. "France wants Europe to set up a committee of banking regulators with real powers of sanction," he said in a speec
Published 06 May, 2009 12:00am
US rice ends mixed

US rice ends mixed

US rice futures on the Chicago Board of Trade ended mixed on Monday, with the new-crop months gaining on the nearbys which were pressed by spillover selling from CBOT wheat and corn, traders said. Also bearish were large deliveries against the May contrac
Published 06 May, 2009 12:00am
Holbrooke vows US support for Zardari

Holbrooke vows US support for Zardari

The United States vowed unambiguous backing Tuesday for President Asif Ali Zardari despite mounting disquiet in Congress ahead of White House talks also involving Afghanistan. Wednesday's summit gathering of US President Barack Obama, Zardari and Afghan P
Published 06 May, 2009 12:00am
Shanghai copper down

Shanghai copper down

London copper futures rose on Tuesday on positive purchasing data from China and signs of recovery in US housing, catching up after a three-day weekend to gains made in Shanghai. But Shanghai gave up its early advances on worries prices have risen too fas
Published 06 May, 2009 12:00am
Sarkozy calls for new Europe bank regulator

Sarkozy calls for new Europe bank regulator

French President Nicolas Sarkozy on Tuesday called for a new European banking regulator to be set up with "real powers" to impose sanctions. "France wants Europe to set up a committee of banking regulators with real powers of sanction," he said in a speec
Published 06 May, 2009 12:00am
Malaysian tin unchanged

Malaysian tin unchanged

Malaysian tin was flat on Tuesday with the London Metal Exchange closed after a 2 percent rise the previous day to its highest level since early December 2008, one trader said.
Published 06 May, 2009 12:00am
Holbrooke vows US support for Zardari

Holbrooke vows US support for Zardari

The United States vowed unambiguous backing Tuesday for President Asif Ali Zardari despite mounting disquiet in Congress ahead of White House talks also involving Afghanistan. Wednesday's summit gathering of US President Barack Obama, Zardari and Afghan P
Published 06 May, 2009 12:00am
US copper rallies

US copper rallies

US copper futures ended up over 2 percent on Monday, driven by strong technical momentum and better-than-expected data that pointed to further stability in the US housing sector. Copper for July delivery rose 4.30 cents, or more than 2 percent, to settle
Published 06 May, 2009 12:00am
Health, microfinance sectors: IDB to provide $100 million

Health, microfinance sectors: IDB to provide $100 million

The Islamic Development Bank (IDB) has agreed to provide $100 million to achieve the targets of Poverty Reduction Strategy Paper (SRSP-II) set for health and microfinance sectors. Sources said that recently agreed assistance is in addition to the earlier
Published 06 May, 2009 12:00am
Australian regulator eyes grain port access

Australian regulator eyes grain port access

Australia's wheat regulator on Tuesday weighed into the controversy surrounding delays to wheat shipments, calling on grains firms to make submissions to the country's competition commission. Australia's grain ports are operated by firms that are also tra
Published 06 May, 2009 12:00am
No blank checks for Pakistan, White House vows

No blank checks for Pakistan, White House vows

The White House vowed Tuesday there would be no 'blank checks' for Pakistan after two top US senators unveiled plans to expand and overhaul civilian aid to the key US ally. "The president has said on numerous occasions there shouldn't be and there won't b
Published 06 May, 2009 12:00am
Indonesia Sulawesi cocoa exports down 18 percent

Indonesia Sulawesi cocoa exports down 18 percent

Cocoa bean exports from Indonesia's main growing island of Sulawesi fell 18 percent to 54,186 tonnes in the first four months of 2009 from the same period last year, trade data showed on Tuesday, amid weak demand and falling output. In April alone, export
Published 06 May, 2009 12:00am
White House talks to mull Pakistan's 'sanctuaries': Karzai

White House talks to mull Pakistan's 'sanctuaries': Karzai

Afghanistan's President Hamid Karzai Tuesday said a White House summit with his Pakistani counterpart will discuss closing militant "sanctuaries" in Pakistan. Karzai said that Afghans overwhelmingly opposed Taliban extremists but said that the militants e
Published 06 May, 2009 12:00am
Vietnam coffee prices up

Vietnam coffee prices up

Coffee prices in Vietnam edged up about 2 percent this week after the world's second-largest producer after Brazil had sold nearly two thirds of its bumper crop, traders said on Tuesday. They said a storm now developing off the country's central coast onl
Published 06 May, 2009 12:00am
Health, microfinance sectors: IDB to provide $100 million

Health, microfinance sectors: IDB to provide $100 million

The Islamic Development Bank (IDB) has agreed to provide $100 million to achieve the targets of Poverty Reduction Strategy Paper (SRSP-II) set for health and microfinance sectors. Sources said that recently agreed assistance is in addition to the earlier
Published 06 May, 2009 12:00am
EADS forms Indian joint venture for military products

EADS forms Indian joint venture for military products

The defence arm of Europe's EADS and India's largest engineering firm, Larsen and Toubro, announced Tuesday a joint venture aimed at tapping into domestic and foreign military markets. The Indian company said the partnership would initially target 250 bil
Published 06 May, 2009 12:00am
Health, microfinance sectors: IDB to provide $100 million

Health, microfinance sectors: IDB to provide $100 million

The Islamic Development Bank (IDB) has agreed to provide $100 million to achieve the targets of Poverty Reduction Strategy Paper (SRSP-II) set for health and microfinance sectors. Sources said that recently agreed assistance is in addition to the earlier
Published 06 May, 2009 12:00am
Indian soyoil down

Indian soyoil down

Indian soyoil futures fell on Tuesday afternoon on profit-taking triggered by weakness in Malaysian palm oil prices and a slowdown in demand at higher prices, analysts said. Rise in open market supplies after a spike in spot prices last week also weighed
Published 06 May, 2009 12:00am
Pak-China investment zones: FBR informs MoC of tax incentives

Pak-China investment zones: FBR informs MoC of tax incentives

The Federal Board of Revenue (FBR) has informed the Ministry of Commerce (MoC) that incentive package for Pakistan-China investment zones in manufacturing sector has allowed system-based withholding tax exemption on the import of plant and machinery by th
Published 06 May, 2009 12:00am
Czech upper house likely to approve EU Lisbon Treaty

Czech upper house likely to approve EU Lisbon Treaty

The Czech upper house will likely approve the EU's Lisbon Treaty in a tense vote planned for Wednesday, removing a major obstacle to the pan-European reform plan, Deputy Prime Minister Alexandr Vondra said on Tuesday. The Czech Republic is one of only sev
Published 06 May, 2009 12:00am
Pak-China investment zones: FBR informs MoC of tax incentives

Pak-China investment zones: FBR informs MoC of tax incentives

The Federal Board of Revenue (FBR) has informed the Ministry of Commerce (MoC) that incentive package for Pakistan-China investment zones in manufacturing sector has allowed system-based withholding tax exemption on the import of plant and machinery by th
Published 06 May, 2009 12:00am
Mexico jet lands in China to take home nationals

Mexico jet lands in China to take home nationals

A jet from Mexico arrived in China on Tuesday on a mission that includes stops in four Chinese cities to bring home dozens of Mexicans quarantined under strict swine flu measures. The trip, which takes in Shanghai, Beijing, Guangzhou in the south, and Hon
Published 06 May, 2009 12:00am
Pak-China investment zones: FBR informs MoC of tax incentives

Pak-China investment zones: FBR informs MoC of tax incentives

The Federal Board of Revenue (FBR) has informed the Ministry of Commerce (MoC) that incentive package for Pakistan-China investment zones in manufacturing sector has allowed system-based withholding tax exemption on the import of plant and machinery by th
Published 06 May, 2009 12:00am
Ethiopian opposition says anti-government plot invented

Ethiopian opposition says anti-government plot invented

An Ethiopian opposition leader said on Tuesday an anti-government plot had been invented as an excuse to arrest potential candidates ahead of national elections next year. "Without third party verification I can't believe there was a plot," Bulcha Demeksa
Published 06 May, 2009 12:00am
Glacier collapse kills 12 in Azad Kashmir

Glacier collapse kills 12 in Azad Kashmir

At least 12 people were killed when an ice shelf collapsed onto them in Azad Kashmir, officials said on Tuesday. The incident occurred in Ashkot village in the mountainous Neelam valley, 65 kilometres (40 miles) north of Muzaffarabad. "A group of 24 peopl
Published 06 May, 2009 12:00am
EU issues consumer online rights, lists action ideas

EU issues consumer online rights, lists action ideas

The European Commission on Tuesday published a guide to consumers rights online as it gave a list of actions it is considering taking to help the public use the Internet. Cross-border shopping is seen as a way of spurring more competition among retailers
Published 06 May, 2009 12:00am
833 percent growth in cement sector July-March profits

833 percent growth in cement sector July-March profits

The cumulative profit of listed cement sector companies increased to Rs 3.7 billion in the nine months of FY09 depicting a massive growth of 833 percent over the corresponding period in FY08 of Rs 395 million.
Published 06 May, 2009 12:00am
Polarising leader set for South Africa presidency

Polarising leader set for South Africa presidency

After surviving graft scandals and a high-stakes duel that brought down a president, Jacob Zuma will complete a stunning political come-back into South Africa's highest office on Wednesday. South Africa's fourth president since the end of apartheid is cer
Published 06 May, 2009 12:00am
833 percent growth in cement sector July-March profits

833 percent growth in cement sector July-March profits

The cumulative profit of listed cement sector companies increased to Rs 3.7 billion in the nine months of FY09 depicting a massive growth of 833 percent over the corresponding period in FY08 of Rs 395 million.
Published 06 May, 2009 12:00am
Australian Prime Minister's popularity dented by economy: poll

Australian Prime Minister's popularity dented by economy: poll

Australia's worsening economy and soaring state borrowing has begun to hurt the popularity of Prime Minister Kevin Rudd's centre-left government ahead of elections next year, a poll showed on Tuesday. Support for Rudd's Labour Party fell 5 percentage poin
Published 06 May, 2009 12:00am
833 percent growth in cement sector July-March profits

833 percent growth in cement sector July-March profits

The cumulative profit of listed cement sector companies increased to Rs 3.7 billion in the nine months of FY09 depicting a massive growth of 833 percent over the corresponding period in FY08 of Rs 395 million.
Published 06 May, 2009 12:00am
Tigris oil spill shuts down Iraq water plants

Tigris oil spill shuts down Iraq water plants

An oil pipeline in northern Iraq has burst, spewing gallons of crude into the Tigris river and forcing Baghdad municipality to shut down three water treatment plants in the past two days, Iraqi officials said on Tuesday. The pipeline was pumping crude fro
Published 06 May, 2009 12:00am
Nine percent decline in cement exports in one month

Nine percent decline in cement exports in one month

Pakistan's cement industry, which pocketed windfall profits in previous years, is claiming that its exports declined by 9 percent in April as compared to March 2009. The All Pakistan Cement Manufacturers Association (APCMA) is already in hot pursuit of fi
Published 06 May, 2009 12:00am
Australian, British war dead exhumed 94 years on

Australian, British war dead exhumed 94 years on

Soldiers' relatives, officials and French villagers Tuesday marked the launch of an operation to recover hundreds of fallen Australian and British troops from a World War I mass grave. Military top brass gathered with British, Australian and French dignit
Published 06 May, 2009 12:00am
SECP revives consultative group on capital markets

SECP revives consultative group on capital markets

The Securities and Exchange Commission of Pakistan (SECP) has revived the Consultative Group on Capital Markets to suggest measures for growth and development of capital markets. The group, under the chairmanship of Aftab Ahmed Diwan, Chief Operating Offi
Published 06 May, 2009 12:00am
Citigroup eyes new ways to pay employees

Citigroup eyes new ways to pay employees

Citigroup may put more employees on commission or offer them larger base salaries as it tries to retain key staffers without running afoul of laws limiting executive pay at banks that receive government funds. Three people familiar with the matter said th
Published 06 May, 2009 12:00am
SECP revives consultative group on capital markets

SECP revives consultative group on capital markets

The Securities and Exchange Commission of Pakistan (SECP) has revived the Consultative Group on Capital Markets to suggest measures for growth and development of capital markets. The group, under the chairmanship of Aftab Ahmed Diwan, Chief Operating Offi
Published 06 May, 2009 12:00am
Canada threatens WTO challenge of EU seal ban

Canada threatens WTO challenge of EU seal ban

Canada announced Tuesday it would seek to overturn a European Union ban on products derived from seals at the World Trade Organisation, if Canada is not exempted from the prohibition. "If the EU imposes a trade ban on seal products it must contain an exem
Published 06 May, 2009 12:00am
SECP revives consultative group on capital markets

SECP revives consultative group on capital markets

The Securities and Exchange Commission of Pakistan (SECP) has revived the Consultative Group on Capital Markets to suggest measures for growth and development of capital markets. The group, under the chairmanship of Aftab Ahmed Diwan, Chief Operating Offi
Published 06 May, 2009 12:00am
EU ministers mull tighter budgets, recovery in sight

EU ministers mull tighter budgets, recovery in sight

The European Union economy is at its low point and likely to start recovering next year, EU finance ministers said on Tuesday, calling for a return to fiscal discipline once growth returns. Euro zone finance ministers on Monday agreed with new forecasts b
Published 06 May, 2009 12:00am
''Frequent changes in tax law pave way for corruption''

''Frequent changes in tax law pave way for corruption''

Chief Justice Iftikhar Muhammad Chaudhry on Tuesday observed that frequent amendments in income tax laws have paved the way for corruption, instead of simplifying the procedure. The CJ said that instead of serving any purpose, the numerous amendments in t
Published 06 May, 2009 12:00am
Eurozone PPI in record fall

Eurozone PPI in record fall

Prices at eurozone factory gates logged their biggest annual fall on record in March, data showed on Tuesday, pointing to possible deflation in coming months and boosting ECB rate cut expectations. Producer prices in the 16-country euro currency area fell
Published 06 May, 2009 12:00am
'Frequent changes in tax law pave way for corruption'

'Frequent changes in tax law pave way for corruption'

Chief Justice Iftikhar Muhammad Chaudhry on Tuesday observed that frequent amendments in income tax laws have paved the way for corruption, instead of simplifying the procedure. The CJ said that instead of serving any purpose, the numerous amendments in t
Published 06 May, 2009 12:00am
Riyadh to host future Gulf states central bank

Riyadh to host future Gulf states central bank

The Gulf Co-operation Council decided on Tuesday at an informal summit in Saudi Arabia that Riyadh would host the future central bank of the six-nation group, the GCC chief told a news conference. GCC Secretary General Abdurrahman al-Attiyah of Qatar told
Published 06 May, 2009 12:00am
'Frequent changes in tax law pave way for corruption'

'Frequent changes in tax law pave way for corruption'

Chief Justice Iftikhar Muhammad Chaudhry on Tuesday observed that frequent amendments in income tax laws have paved the way for corruption, instead of simplifying the procedure. The CJ said that instead of serving any purpose, the numerous amendments in t
Published 06 May, 2009 12:00am
South Africa's jobless rate jumps

South Africa's jobless rate jumps

South Africa's official jobless rate leapt to 23.5 percent in the first quarter of 2009 and continued pressure on labour intensive sectors such as the car industry point to more job losses this year. Statistics South Africa said on Tuesday unemployment in
Published 06 May, 2009 12:00am
Nine percent decline in cement exports in one month

Nine percent decline in cement exports in one month

Pakistan''s cement industry, which pocketed windfall profits in previous years, is claiming that its exports declined by 9 percent in April as compared to March 2009. The All Pakistan Cement Manufacturers Association (APCMA) is already in hot pursuit of f
Published 06 May, 2009 12:00am
Weak US services sector on mend in April

Weak US services sector on mend in April

The US services sector contracted less severely in April and was back to its October 2008 level, a report on Tuesday showed, adding evidence the world's largest economy was nearing bottom and moving closer to recovery. The Institute for Supply Management'
Published 06 May, 2009 12:00am
Nine percent decline in cement exports in one month

Nine percent decline in cement exports in one month

Pakistan's cement industry, which pocketed windfall profits in previous years, is claiming that its exports declined by 9 percent in April as compared to March 2009. The All Pakistan Cement Manufacturers Association (APCMA) is already in hot pursuit of fi
Published 06 May, 2009 12:00am
Future bleak for Metro after first quarter profits slump

Future bleak for Metro after first quarter profits slump

The world's fourth-largest retailer, Metro, predicted a sales slowdown this year after what it hailed as the worst slump since the Great Depression halved profit in the first quarter. The worse-than-expected result is further evidence of the economic slow
Published 06 May, 2009 12:00am
Cabinet may okay Benazir Tractor Scheme today

Cabinet may okay Benazir Tractor Scheme today

The Cabinet is likely to approve Benazir Tractor Scheme on Wednesday, according to which farmers would be provided tractors at subsidised rates. "We have proposed that distribution of tractors should be on the basis of constituencies, to ensure transparen
Published 06 May, 2009 12:00am
Future bleak for Metro after first quarter profits slump

Future bleak for Metro after first quarter profits slump

The world's fourth-largest retailer, Metro, predicted a sales slowdown this year after what it hailed as the worst slump since the Great Depression halved profit in the first quarter. The worse-than-expected result is further evidence of the economic slow
Published 06 May, 2009 12:00am
Cabinet may okay Benazir Tractor Scheme today

Cabinet may okay Benazir Tractor Scheme today

The Cabinet is likely to approve Benazir Tractor Scheme on Wednesday, according to which farmers would be provided tractors at subsidised rates. "We have proposed that distribution of tractors should be on the basis of constituencies, to ensure transparen
Published 06 May, 2009 12:00am
US recovery ahead, housing near bottom, says Bernanke

US recovery ahead, housing near bottom, says Bernanke

Federal Reserve Chairman Ben Bernanke told Congress on Tuesday the three-year US housing bust may be near a bottom and that he expected the recession to end this year barring a relapse of the financial crisis. Bernanke sounded more confident than he had i
Published 06 May, 2009 12:00am
BRIndex30 gains 30.6 points

BRIndex30 gains 30.6 points

On Tuesday, the BRIndex30 opened in the green zone at 6,621.51 with an upward gap of 72.1 points. It closed at 6,580.01 with a net positive change of 30.6 points and percentage change of 0.47. It experienced intra-day high of 6,653.78 and low of 6,502.71
Published 06 May, 2009 12:00am
Senate rejects narrowed 'safe harbour' amendment

Senate rejects narrowed 'safe harbour' amendment

The US Senate on Tuesday rejected a measure that would have narrowed the scope of a housing rescue bill and discouraged mortgage servicers from retooling problem home loans. A bill now being considered by the Senate aims to protect mortgage service compan
Published 06 May, 2009 12:00am
BRIndex30 gains 30.6 points

BRIndex30 gains 30.6 points

On Tuesday, the BRIndex30 opened in the green zone at 6,621.51 with an upward gap of 72.1 points. It closed at 6,580.01 with a net positive change of 30.6 points and percentage change of 0.47. It experienced intra-day high of 6,653.78 and low of 6,502.71
Published 06 May, 2009 12:00am
UBS wary on outlook but won't need capital hike soon

UBS wary on outlook but won't need capital hike soon

UBS remained wary on its immediate outlook as it braced for the recession's full impact after a first quarter loss, but its shares rose as resilient capital ratios cut the need for a balance sheet boost. Despite a strong rebound in stock markets in recent
Published 06 May, 2009 12:00am
Dull trading on KSE

Dull trading on KSE

After witnessing a highly volatile session amid thin volumes Karachi share market finally managed to close in the positive with the benchmark KSE-100 index gaining 19.58 points to close at 7,081.83 points on Tuesday. The market opened on a positive note a
Published 06 May, 2009 12:00am
Global regulators say securitisation rules needed

Global regulators say securitisation rules needed

Forcing banks to retain a slice of the securities products they design and sell would make markets safer and help restore investor confidence, a top global regulatory body said on Tuesday. The International Organisation of Securities Commissions (IOSCO) a
Published 06 May, 2009 12:00am
Dull trading on KSE

Dull trading on KSE

After witnessing a highly volatile session amid thin volumes Karachi share market finally managed to close in the positive with the benchmark KSE-100 index gaining 19.58 points to close at 7,081.83 points on Tuesday. The market opened on a positive note a
Published 06 May, 2009 12:00am
Dull trading on KSE

Dull trading on KSE

After witnessing a highly volatile session amid thin volumes Karachi share market finally managed to close in the positive with the benchmark KSE-100 index gaining 19.58 points to close at 7,081.83 points on Tuesday. The market opened on a positive note a
Published 06 May, 2009 12:00am
New York cotton

New York cotton

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

Published 06 May, 2009 12:00am
Deep-sea fishing policy may be revised

Deep-sea fishing policy may be revised

The government is reportedly revising the terms and conditions of the deep-sea fishing policy, approved by General Pervez Musharraf (Retd) as Chief Executive in 2001 as the amended policy did not yield desired results, official sources told Business Re
Published 06 May, 2009 12:00am
Deep-sea fishing policy may be revised

Deep-sea fishing policy may be revised

The government is reportedly revising the terms and conditions of the deep-sea fishing policy, approved by General Pervez Musharraf (Retd) as Chief Executive in 2001 as the amended policy did not yield desired results, official sources told Business Re
Published 06 May, 2009 12:00am
New York cotton

New York cotton

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

Published 06 May, 2009 12:00am
Deep-sea fishing policy may be revised

Deep-sea fishing policy may be revised

The government is reportedly revising the terms and conditions of the deep-sea fishing policy, approved by General Pervez Musharraf (Retd) as Chief Executive in 2001 as the amended policy did not yield desired results, official sources told Business Re
Published 06 May, 2009 12:00am
State Bank of Pakistan conversion rates

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 06 May, 2009 12:00am
Cabinet may okay Benazir Tractor Scheme today

Cabinet may okay Benazir Tractor Scheme today

The Cabinet is likely to approve Benazir Tractor Scheme on Wednesday, according to which farmers would be provided tractors at subsidised rates. "We have proposed that distribution of tractors should be on the basis of constituencies, to ensure transparen
Published 06 May, 2009 12:00am
Barclays bid rates and maximum rates for payment of interest

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 06 May, 2009 12:00am
Mixed trend on LSE

Mixed trend on LSE

Mixed trend was observed on Lahore Stock Exchange on Tuesday and the equities kept on moving up and down in a narrow range on account of lack of interest on the part of investors who were eyeing the outcome of the President Zardari's visit to the USA. The
Published 06 May, 2009 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (May 05, 2009).

Published 06 May, 2009 12:00am
Rs 898.64 billion taxes collected in July-April

Rs 898.64 billion taxes collected in July-April

The Federal Board of Revenue (FBR) has collected Rs 898.64 billion as taxes during 10 months of the current fiscal, against Rs 763.592 billion in the same period of last year, reflecting an increase of 17.7 percent. According to provisional figures releas
Published 06 May, 2009 12:00am
Rs 898.64 billion taxes collected in July-April

Rs 898.64 billion taxes collected in July-April

The Federal Board of Revenue (FBR) has collected Rs 898.64 billion as taxes during 10 months of the current fiscal, against Rs 763.592 billion in the same period of last year, reflecting an increase of 17.7 percent. According to provisional figures releas
Published 06 May, 2009 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (May 05, 2009).

Published 06 May, 2009 12:00am
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