AIRLINK 192.46 Decreased By ▼ -3.92 (-2%)
BOP 10.23 Increased By ▲ 0.12 (1.19%)
CNERGY 7.53 Decreased By ▼ -0.22 (-2.84%)
FCCL 38.10 No Change ▼ 0.00 (0%)
FFL 15.41 Decreased By ▼ -0.33 (-2.1%)
FLYNG 24.82 Increased By ▲ 0.28 (1.14%)
HUBC 128.08 Decreased By ▼ -2.30 (-1.76%)
HUMNL 13.77 Increased By ▲ 0.04 (0.29%)
KEL 4.44 Decreased By ▼ -0.16 (-3.48%)
KOSM 6.21 Increased By ▲ 0.02 (0.32%)
MLCF 44.62 Decreased By ▼ -0.23 (-0.51%)
OGDC 202.69 Decreased By ▼ -3.82 (-1.85%)
PACE 6.63 Increased By ▲ 0.05 (0.76%)
PAEL 37.95 Decreased By ▼ -1.82 (-4.58%)
PIAHCLA 17.01 Decreased By ▼ -0.19 (-1.1%)
PIBTL 7.84 Decreased By ▼ -0.15 (-1.88%)
POWER 9.40 Increased By ▲ 0.20 (2.17%)
PPL 175.05 Decreased By ▼ -3.86 (-2.16%)
PRL 37.34 Decreased By ▼ -1.59 (-4.08%)
PTC 23.45 Decreased By ▼ -0.86 (-3.54%)
SEARL 104.89 Decreased By ▼ -4.38 (-4.01%)
SILK 1.01 Increased By ▲ 0.01 (1%)
SSGC 36.90 Decreased By ▼ -0.85 (-2.25%)
SYM 18.26 Decreased By ▼ -0.57 (-3.03%)
TELE 8.27 Decreased By ▼ -0.26 (-3.05%)
TPLP 12.13 Decreased By ▼ -0.01 (-0.08%)
TRG 63.98 Decreased By ▼ -0.78 (-1.2%)
WAVESAPP 11.72 Decreased By ▼ -0.39 (-3.22%)
WTL 1.63 Decreased By ▼ -0.01 (-0.61%)
YOUW 3.89 Increased By ▲ 0.02 (0.52%)
BR100 11,856 Decreased By -143.8 (-1.2%)
BR30 34,973 Decreased By -575 (-1.62%)
KSE100 112,745 Decreased By -1510.7 (-1.32%)
KSE30 35,360 Decreased By -509.9 (-1.42%)
Feb 03, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2009-05-13
Hong Kong shares jump

Hong Kong shares jump

Hong Kong share prices closed 0.38 percent higher on Tuesday, as strong investor confidence helped overturn earlier losses, dealers said. The benchmark Hang Seng Index closed up 65.69 points at 17,153.64, after dropping into negative territory in the morn
Published 13 May, 2009 12:00am
UN to 'substantially' increase aid appeal

UN to 'substantially' increase aid appeal

The UN's humanitarian chief said Tuesday that he will "substantially" increase an aid appeal for Pakistan after half a million people fled conflict in the north-west over the past 10 days. The United Nations had made an appeal for 165.9 million dollars fo
Published 13 May, 2009 12:00am
Heliborne troops dropped into Taliban stronghold: ISPR

Heliborne troops dropped into Taliban stronghold: ISPR

Pakistan army on Tuesday claimed that its troops backed by artillery and aerial bombing killed 751 miscreants, while 29 security personnel have been martyred so far in Swat, Buner and Dir military operation. Giving details about the operation at a press c
Published 13 May, 2009 12:00am
Reduced imports shrink July-April trade deficit

Reduced imports shrink July-April trade deficit

Pakistan''s trade deficit crossed $14 billion during the ten months (July-April) of current fiscal year due to negative growth in exports and a low decline in imports. This situation should be a wake-up call to senior government officials who had been pro
Published 13 May, 2009 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (May 12, 2009).

Published 13 May, 2009 12:00am
Reduced imports shrink July-April trade deficit

Reduced imports shrink July-April trade deficit

Pakistan's trade deficit crossed $14 billion during the ten months (July-April) of current fiscal year due to negative growth in exports and a low decline in imports. This situation should be a wake-up call to senior government officials who had been proc
Published 13 May, 2009 12:00am
Reduced imports shrink July-April trade deficit

Reduced imports shrink July-April trade deficit

Pakistan's trade deficit crossed $14 billion during the ten months (July-April) of current fiscal year due to negative growth in exports and a low decline in imports. This situation should be a wake-up call to senior government officials who had been proc
Published 13 May, 2009 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (May 12, 2009).
Published 13 May, 2009 12:00am
US fights for huge aid injection

US fights for huge aid injection

President Barack Obama's administration lobbied hard Tuesday for a giant Pakistan aid package, arguing that to abandon the embattled nation now would jeopardise vital US national interests. Richard Holbrooke, Obama's special representative for Pakistan an
Published 13 May, 2009 12:00am
US fights for huge aid injection

US fights for huge aid injection

President Barack Obama's administration lobbied hard Tuesday for a giant Pakistan aid package, arguing that to abandon the embattled nation now would jeopardise vital US national interests. Richard Holbrooke, Obama's special representative for Pakistan an
Published 13 May, 2009 12:00am
UK provides humanitarian assistance

UK provides humanitarian assistance

The British government has provided urgent humanitarian assistance of 10 million pounds sterling to help the 1,000,000 people displaced by the fighting in the Federally Administered Tribal Areas and North West Frontier Province including the Swat region.
Published 13 May, 2009 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Tuesday (May 12, 2009).

Published 13 May, 2009 12:00am
UK provides humanitarian assistance

UK provides humanitarian assistance

The British government has provided urgent humanitarian assistance of 10 million pounds sterling to help the 1,000,000 people displaced by the fighting in the Federally Administered Tribal Areas and North West Frontier Province including the Swat region.
Published 13 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 12, 2009).

Published 13 May, 2009 12:00am
World Bank chief cautious on global outlook

World Bank chief cautious on global outlook

There is still a high degree of uncertainty regarding the outlook for the global economy, although Chinese growth could surprise on the upside, World Bank President Robert Zoellick said on Tuesday. Speaking at the start of a two-day International Finance
Published 13 May, 2009 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Tuesday (May 12, 2009).

Published 13 May, 2009 12:00am
Campaign to broaden tax net: FBR not happy with RTOs performance

Campaign to broaden tax net: FBR not happy with RTOs performance

The Federal Board of Revenue (FBR) has expressed displeasure over the progress of enforcement campaign of Regional Tax Offices (RTOs) to ensure filing of income tax returns by undocumented businessmen falling within the category of "non-salary cases" for
Published 13 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 12, 2009).

Published 13 May, 2009 12:00am
Campaign to broaden tax net: FBR not happy with RTOs performance

Campaign to broaden tax net: FBR not happy with RTOs performance

The Federal Board of Revenue (FBR) has expressed displeasure over the progress of enforcement campaign of Regional Tax Offices (RTOs) to ensure filing of income tax returns by undocumented businessmen falling within the category of "non-salary cases" for
Published 13 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 13 May, 2009 12:00am
Campaign to broaden tax net: FBR not happy with RTOs performance

Campaign to broaden tax net: FBR not happy with RTOs performance

The Federal Board of Revenue (FBR) has expressed displeasure over the progress of enforcement campaign of Regional Tax Offices (RTOs) to ensure filing of income tax returns by undocumented businessmen falling within the category of "non-salary cases" for
Published 13 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 13 May, 2009 12:00am
World Bank chief cautious on global outlook

World Bank chief cautious on global outlook

There is still a high degree of uncertainty regarding the outlook for the global economy, although Chinese growth could surprise on the upside, World Bank President Robert Zoellick said on Tuesday. Speaking at the start of a two-day International Finance
Published 13 May, 2009 12:00am
New York cotton

New York cotton

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

Published 13 May, 2009 12:00am
Suspected US strike kills 10

Suspected US strike kills 10

A suspected US drone attack killed up to 10 people in a remote tribal area near the Afghan border Tuesday, the second such strike in a few days, security officials said. Civilians were among the dead and there were no reported high-value targets killed in
Published 13 May, 2009 12:00am
World Bank chief cautious on global outlook

World Bank chief cautious on global outlook

There is still a high degree of uncertainty regarding the outlook for the global economy, although Chinese growth could surprise on the upside, World Bank President Robert Zoellick said on Tuesday. Speaking at the start of a two-day International Finance
Published 13 May, 2009 12:00am
Suspected US strike kills 10

Suspected US strike kills 10

A suspected US drone attack killed up to 10 people in a remote tribal area near the Afghan border Tuesday, the second such strike in a few days, security officials said. Civilians were among the dead and there were no reported high-value targets killed in
Published 13 May, 2009 12:00am
New York cotton

New York cotton

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

Published 13 May, 2009 12:00am
ADB to sign TFFA with banks on May 15

ADB to sign TFFA with banks on May 15

Asian Development Bank (ADB) will sign Trade-Financing and Facilitation Agreements (TFFA) with a large number of Pakistani banks on Friday (May 15). The TFFA is aimed at bolstering export and import activities, resulting in an improvement of the Pakistan
Published 13 May, 2009 12:00am
ADB to sign TFFA with banks on May 15

ADB to sign TFFA with banks on May 15

Asian Development Bank (ADB) will sign Trade-Financing and Facilitation Agreements (TFFA) with a large number of Pakistani banks on Friday (May 15). The TFFA is aimed at bolstering export and import activities, resulting in an improvement of the Pakistan
Published 13 May, 2009 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 192,802 tonnes of cargo including 147,661 tonnes of import and 45,141 tonnes of export, 3,880 loaded and empty containers (TEUs) during last 24 hours ending at 0700 hours on Tuesday. The freights comprised of 130,447 tonnes of dry
Published 13 May, 2009 12:00am
ADB to sign TFFA with banks on May 15

ADB to sign TFFA with banks on May 15

Asian Development Bank (ADB) will sign Trade-Financing and Facilitation Agreements (TFFA) with a large number of Pakistani banks on Friday (May 15). The TFFA is aimed at bolstering export and import activities, resulting in an improvement of the Pakistan
Published 13 May, 2009 12:00am
Malaysian cocoa powder sold at eight-year high

Malaysian cocoa powder sold at eight-year high

Cocoa powder from Malaysia was sold at $3,000 a tonne for nearby shipment, its highest level since 2001, suggesting that demand for the product was steady even while grinders in Asia struggle to sell butter during the economic meltdown, industry sources s
Published 13 May, 2009 12:00am
Donors want judicious spending of aid funds, says Gilani

Donors want judicious spending of aid funds, says Gilani

Prime Minister Syed Yousuf Raza Gilani has acknowledged before the Federal Cabinet that donors want judicious spending of their financial assistance, and target it to the economically downtrodden in Pakistan.
Published 13 May, 2009 12:00am
FOB Gulf soya and corn steady

FOB Gulf soya and corn steady

US soyabean export premiums at the Gulf of Mexico were steady on Monday, with demand from China slowing amid poor crush margins, traders said. Demand in corn was also thin, with most importers holding out until Tuesday's USDA supply/demand report forecast
Published 13 May, 2009 12:00am
Donors want judicious spending of aid funds, says Gilani

Donors want judicious spending of aid funds, says Gilani

Prime Minister Syed Yousuf Raza Gilani has acknowledged before the Federal Cabinet that donors want judicious spending of their financial assistance, and target it to the economically downtrodden in Pakistan.
Published 13 May, 2009 12:00am
US corn futures end mixed

US corn futures end mixed

US corn futures closed mixed on Monday in choppy positioning trade ahead of USDA's May supply/demand report early Tuesday. CBOT May corn was down 1/2 cent per bushel at $4.13-1/2. Funds bought 2,000 lots. Slow US corn seedings underpinned market.
Published 13 May, 2009 12:00am
Donors want judicious spending of aid funds, says Gilani

Donors want judicious spending of aid funds, says Gilani

Prime Minister Syed Yousuf Raza Gilani has acknowledged before the Federal Cabinet that donors want judicious spending of their financial assistance, and target it to the economically downtrodden in Pakistan.
Published 13 May, 2009 12:00am
Corn and soyabean crop forecasts for South America

Corn and soyabean crop forecasts for South America

Argentina, the world's No 2 corn and No 3 soyabean exporter, has suffered one of its worst droughts in more than 40 years, with months of dry conditions withering crops and killing livestock. Rains brought widespread relief to the country's soyabean-growi
Published 13 May, 2009 12:00am
Russian grain prices keep rising

Russian grain prices keep rising

Russian grain prices rose last week on demand from exporters and growing concerns about crop prospects in Russia and the United States, analysts said on Tuesday. Ordinary wheat export prices have increased to $185 per tonne and those for barley to $145 pe
Published 13 May, 2009 12:00am
Canadian canola futures close lower

Canadian canola futures close lower

ICE Canadian canola ended lower Monday as investors took a cautious approach after a week of big gains and ahead of Tuesday's US Agriculture Department report. Lower US crude oil and soyabeans also applied pressure, but one trader said weak demand weighed
Published 13 May, 2009 12:00am
KCBT wheat futures end up

KCBT wheat futures end up

Hard red winter wheat futures on the Kansas City Board of Trade ended higher on Monday, adding to gains that left the benchmark contract up more than 8 percent this month and hitting the highest point in more than three months. The benchmark KCBT HRW July
Published 13 May, 2009 12:00am
US Midwest corn and soya bids mostly flat to lower

US Midwest corn and soya bids mostly flat to lower

Spot basis bids for soyabeans and corn were steady to lower on Monday as farmers booked few sales and worked in the fields when possible, dealers said. Corn planting was still behind schedule in much of the eastern Corn Belt as wet weather slowed progress
Published 13 May, 2009 12:00am
No transaction seen on cotton market

No transaction seen on cotton market

No business activity was seen on the cotton market on Tuesday as a result of the public holiday announced by the Sindh Government, dealers said. The official spot rate was unchanged at Rs 3700, they said.
Published 13 May, 2009 12:00am
US wheat futures settle flat

US wheat futures settle flat

US wheat futures settled close to unchanged on Monday as few traders wanted to make aggressive moves in choppy trading ahead of a key US Agriculture Department report. The report, to be released on Tuesday morning, will provide a forecast of US winter whe
Published 13 May, 2009 12:00am
Bangladesh tea slips

Bangladesh tea slips

The average price of Bangladeshi teas fell by a fraction to 137.96 taka ($2.0) for lack of overseas demand at the weekly auction on Tuesday, brokers said. Some 530,550 kg were sold at 137.96 taka on average, down 0.39 taka from the last sale. Unsold tea t
Published 13 May, 2009 12:00am
No activity on grain market

No activity on grain market

In the absence of physical activity, no business was seen on the wholesale grain and seed market on Tuesday following the public holiday, announced by the Government of Sindh.
Published 13 May, 2009 12:00am
US rice ends flat

US rice ends flat

US rice futures on the Chicago Board of Trade closed flat to firm on Monday with the large stockpile of rice continuing to act as an anchor on the market. CBOT May rice did not trade and closed unchanged at $12.45 per cwt. July was unchanged at $12.65.
Published 13 May, 2009 12:00am
Soya and corn end unchanged

Soya and corn end unchanged

Chicago soy and corn futures were almost flat in thin trade on Tuesday as investors awaited a crucial US supply and demand report. Analysts said the soy market could come under some pressure on talk that China is slowing imports of the oilseed after buyin
Published 13 May, 2009 12:00am
Shanghai copper steadies

Shanghai copper steadies

Copper prices edged higher on Tuesday, steadying after Shanghai slid almost 5 percent in the previous session and London lost 2.5 percent on worries about oversupply in China. Trade data released by Beijing after the market closed for the lunch break show
Published 13 May, 2009 12:00am
US copper closes down

US copper closes down

US copper futures ended on Monday with moderate losses as investors took their cue from falling equity markets and grabbed profits after recent gains, but prices held within a sideways range at higher levels. Copper for July delivery dropped 5.70 cents, o
Published 13 May, 2009 12:00am
Gold ends steady in Asia

Gold ends steady in Asia

Gold was little changed on Tuesday, taking a breather a day after paring a 3 percent gain made last week on a rebound in the dollar, while declines in global stock markets underpinned its allure as a safe-haven asset. Tokyo's Nikkei share average fell 1.6
Published 13 May, 2009 12:00am
US gold drops

US gold drops

New York gold futures edged down in mixed trade on Monday, whipsawing between selling pressure related to a financial market sell-off and technical buying. Gold for June delivery down $1.10 at $913.80 an ounce at 11:16 am EDT (1616 GMT) on the COMEX divis
Published 13 May, 2009 12:00am
New York sugar closes near three-year high

New York sugar closes near three-year high

Raw sugar futures settled up and near a three-year top on Monday as the sweetener defied weak outside markets and was bolstered by expected offtake from Asian countries led by India, brokers said. The July raw sugar contract gained 0.34 cent to conclude a
Published 13 May, 2009 12:00am
US soya ends mixed

US soya ends mixed

US soybean futures on the Chicago Board of Trade closed mixed on Monday with spot May easing on profit-taking after last week's rally and positioning before USDA's monthly report on Tuesday. CBOT May soy down 4 cents per bushel at $11.30. July up 4-1/2 at
Published 13 May, 2009 12:00am
Rains to cut Brazil's 2008-09 Bahia cotton crop

Rains to cut Brazil's 2008-09 Bahia cotton crop

Output from Brazil's No 2 cotton producing state, Bahia, could fall by as much as 20 percent 2008/09 from initial forecasts due to excessive rains in recent weeks, a farmers' association said on Monday. Heavy rains should also delay the beginning of the h
Published 13 May, 2009 12:00am
Tokyo rubber futures fall

Tokyo rubber futures fall

Tokyo rubber futures fell on Tuesday, extending losses into a third day in a truncated trading session, as a rising yen hurt sentiment while declines in global stock markets prompted profit-taking. A systems fault at the Tokyo Commodity Exchange, Japan's
Published 13 May, 2009 12:00am
Malaysian palm oil futures up

Malaysian palm oil futures up

Malaysian palm futures rose 1.1 percent on Tuesday as fears lingered over prospects for strong exports to mop up low stock levels in the world's second largest producer of the vegetable oil. The benchmark July contract settled down 28 ringgit at 2,688 rin
Published 13 May, 2009 12:00am
US trade chief starts talks in conciliatory mode

US trade chief starts talks in conciliatory mode

The new US trade chief arrived in Geneva on Monday in conciliatory mode, declaring he wanted to listen to America's trade partners and resolve disputes with the European Union through negotiation, not litigation. US Trade Representative Ron Kirk, who took
Published 13 May, 2009 12:00am
Oil falls below $58 in Asia

Oil falls below $58 in Asia

Oil prices fell for a second straight day on Tuesday to below $58 a barrel on weaker equities, consolidating after touching a six-month peak last week, as China disappointed markets with a sharp drop in April exports. Crude prices touched $58.75 on Friday
Published 13 May, 2009 12:00am
Cash-strapped French cut down on holidays

Cash-strapped French cut down on holidays

The global downturn is forcing French families to scrap their summer holidays and those who will be frolicking on the beach plan to watch every euro they spend, according to a survey on Tuesday. About 62 percent of the French told the OpinionWay polling f
Published 13 May, 2009 12:00am
Russian oligarch Deripaska to shrink property empire

Russian oligarch Deripaska to shrink property empire

Russian billionaire Oleg Deripaska, once the country's richest man, is moving to sell off his domestic construction empire as he grapples with his vast debts, a newspaper reported on Tuesday. The report prompted a clarification by a spokesman for Deripask
Published 13 May, 2009 12:00am
South Korea rates held at record low, seen on hold

South Korea rates held at record low, seen on hold

South Korea's central bank on Tuesday held interest rates at a record low 2.0 percent for the third month in a row, as expected, but sparked a bond rally by promising to keep to an easier policy stance for the time being. It forecast mildly positive quart
Published 13 May, 2009 12:00am
Bank of France sees economic slowdown easing

Bank of France sees economic slowdown easing

The French economy is expected to shrink at a slower pace in the second quarter of 2009, the Bank of France said in its latest survey on Tuesday. Giving its first estimate for the quarter, the central bank said gross domestic product (GDP) will contract b
Published 13 May, 2009 12:00am
Eastern Europe business climate worsens, pace of downturn slows

Eastern Europe business climate worsens, pace of downturn slows

Business sentiment worsened among companies operating in central and Eastern Europe in the three months to April, although the pace of the fall slowed due to resilience in countries like Poland and the Czech Republic. The Thomson Reuters & OeKB Central an
Published 13 May, 2009 12:00am
'EU to stress test banking system by September'

'EU to stress test banking system by September'

The European Union will stress test its banking system by September to determine its resilience to the economic downturn and find out if it is adequately capitalised, EU sources and banking supervisors said on Tuesday. The stress tests will be done by nat
Published 13 May, 2009 12:00am
China eight percent growth target achievable'

China eight percent growth target achievable'

China has the resources to achieve its economic growth target of 8 percent this year but a recovery will not be sustainable unless it improves its economic structure, Yu Yongding, an influential economist and former central bank adviser, said on Tuesday.
Published 13 May, 2009 12:00am
Standard Bank executive says 2009 tough year

Standard Bank executive says 2009 tough year

The head of Standard Bank's South African business said on Tuesday 2009 was proving "tougher than anybody expected" as bad debts at its corporate and retail business continue to rise and trade slows. Sim Tshabalala, who is also one of the group deputy CEO
Published 13 May, 2009 12:00am
'UK economy shows signs of stabilisation'

'UK economy shows signs of stabilisation'

Britain's economy stabilised in April after a year of falling output, the National Institute of Economic and Social Research said on Tuesday. It said last month's improvement suggested the decline in output since the start of the recession may not be as s
Published 13 May, 2009 12:00am
PCCW buyout bid clearly manipulated: Hong Kong judge

PCCW buyout bid clearly manipulated: Hong Kong judge

A shareholder vote that approved Hong Kong telecom giant PCCW's 2.1 billion US dollar privatisation move was clearly manipulated by a city businessman, a court ruled Monday. Lam Hau-wah, a senior manager at Fortis Insurance Company (Asia), dished out arou
Published 13 May, 2009 12:00am
Singapore shares make slight gains

Singapore shares make slight gains

Singapore shares closed 0.56 percent higher on Tuesday after bargain-hunting reversed earlier losses, dealers said. The blue chip Straits Times Index climbed 12.03 points to 2,178.13 on volume of 2.70 billion shares worth 2.09 billion Singapore dollars (1
Published 13 May, 2009 12:00am
Dollar Libor at historic lows but flows thin

Dollar Libor at historic lows but flows thin

Bank-to-bank dollar funding costs fell again to historic lows on Tuesday, reflecting a gradual return in confidence in money markets that analysts also caution still has some way to go. Money market participants took heart after US stress tests on major b
Published 13 May, 2009 12:00am
Deal inked on wheat procurement financing to Punjab government

Deal inked on wheat procurement financing to Punjab government

The consortium of three banks including two Islamic banks and Punjab Food Department have signed Rs 5 billion agreement according to which the consortium would provide Wheat Procurement Financing to Government of Punjab.
Published 13 May, 2009 12:00am
Clarification

Clarification

Apropos a news item "25-foot berth space caves in under heavy cargo" carried by Business Recorder on Tuesday, the Karachi Port Trust (KPT) has clarified that no berth has collapsed; the storage area of about 1000 sq. meters which is 100 meters away
Published 13 May, 2009 12:00am
Government approves Rs 400 million for promotion of sports activities

Government approves Rs 400 million for promotion of sports activities

The government has approved Rs 400 million for the promotion of sports activities and completion of the continuing projects said Federal Minister for Sports, Pir Aftab Hassain Shah Jilani, while talking to the media men after chairing the 4th meeting of I
Published 13 May, 2009 12:00am
Call to bring small units into tax net

Call to bring small units into tax net

Federal B Area Association of Trade and Industry (FBAATI) has urged the government to take comprehensive measures to formalise all sectors of the economy, particularly, the small businesses, as 90 per cent of them are being operated informally.
Published 13 May, 2009 12:00am
Ministry concerned over growing losses of PSMC

Ministry concerned over growing losses of PSMC

The Ministry of Industries and Production, showing concern over the dismal performance of Pakistan Steel Mills Corporation (PSMC), has asked the Corporation to make concerted efforts to increase productivity and profitability.
Published 13 May, 2009 12:00am
PBM allocates Rs one billion for IDPs

PBM allocates Rs one billion for IDPs

Pakistan Bait-ul-Mal (PBM) has allocated a budget of Rs 1 billion for providing food and other facilities to internally displaced persons (IDPs) of Swat, Dir and Buner under its special package. According to a statement issued here on Tuesday.
Published 13 May, 2009 12:00am
Indian rupee gains

Indian rupee gains

The Indian rupee rode a surging share market and a weaker US dollar to recover from early losses on Tuesday, but some poor data and caution ahead of election results at the weekend prevented a sharper rally. The partially convertible rupee closed at 49.26
Published 13 May, 2009 12:00am
Three bodies recovered from different areas

Three bodies recovered from different areas

Three bodies including a body of woman were found from different parts of the metropolis on Tuesday, police and witnesses said. A four-day old body of a young man, Saifullah, 30, was found in a house located at Saeedabad Colony in limits of Saeedabad poli
Published 13 May, 2009 12:00am
Dollar plummets in London

Dollar plummets in London

The dollar fell to a four-month low against a currency basket on Tuesday as solid UK data fanned optimism that the global recession is easing, boosting sterling, as well as the euro and other perceived higher-risk currencies. Stronger-than-expected UK ret
Published 13 May, 2009 12:00am
Sri Lanka brushes off criticism over rebel war

Sri Lanka brushes off criticism over rebel war

Sri Lankan troops broke through Tamil Tiger defences on Tuesday and the government brushed off Western criticism of civilian deaths as part of a rebel-orchestrated bid for a last-minute reprieve. The rebels, cornered in a coastal strip where they have hel
Published 13 May, 2009 12:00am
Incense burns as solemn China mourns quake dead

Incense burns as solemn China mourns quake dead

Mourners crowded ruins in south-west China on Tuesday to mark one year since an earthquake shattered the region, while President Hu Jintao called reconstruction efforts a testament to national strength. In Sichuan province, where the earthquake rippled ou
Published 13 May, 2009 12:00am
Malaysian government regains power in disputed state

Malaysian government regains power in disputed state

Malaysia's National Front government, armed with a court order, took control of disputed Perak state again on Tuesday in a development that will likely deepen political divisions in the country. An appeals court decision on Tuesday delayed the handover of
Published 13 May, 2009 12:00am
27 killed as storm lashes northern India

27 killed as storm lashes northern India

At least 27 people were killed in India's northern state of Uttar Pradesh in heavy rainstorms that uprooted trees and caused several houses to collapse, news reports and officials said Tuesday.The PTI news agency, quoting police sources, reported 27 peopl
Published 13 May, 2009 12:00am
Nato appoints US admiral as supreme commander

Nato appoints US admiral as supreme commander

Nato announced Tuesday that it had appointed US Admiral James Stavridis as its supreme military commander, following a request from the United States. Stavridis will replace US General John Craddock as Supreme Allied Commander Europe (SACEUR), said a stat
Published 13 May, 2009 12:00am
Pound sets four-month high

Pound sets four-month high

Sterling rallied to a four-month high against a broadly weaker dollar on Tuesday but lost steam in late trade after a key measure of UK unemployment showed a bigger-than-expected rise in the jobless rate in March. Still, the latest batch of economic repor
Published 13 May, 2009 12:00am
US sacks top commander in Afghanistan

US sacks top commander in Afghanistan

US Defence Secretary Robert Gates has sacked the top commander in Afghanistan to make way for "new thinking" in the seven-year-old war that has struggled to halt a widening Taliban insurgency. Gates, explaining Monday his decision to replace General David
Published 13 May, 2009 12:00am
20 dead as US, Afghans battle suicide bombers

20 dead as US, Afghans battle suicide bombers

Eleven Taliban suicide bombers attacked government buildings in eastern Afghanistan on Tuesday, sparking running gunbattles that killed at least 20 people and wounded three US troops, officials said. US and Afghan troops freed 20 hostages taken by the ins
Published 13 May, 2009 12:00am
IDPs' issue needs unprecedented response: Fehmida

IDPs' issue needs unprecedented response: Fehmida

The Acting President Dr Fehmida Mirza has said that the issue of the internally displaced people of Swat and Malakand (IDPs) was human catastrophe and it needed an unprecedented response from the international community and people of Pakistan to overcome
Published 13 May, 2009 12:00am
Previous Day