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Print - 2009-06-05
Economic performance weak in fiscal year 2009

Economic performance weak in fiscal year 2009

Pakistan''''s economy continued to show macroeconomic stability in the third quarter of the current 2008-09 fiscal year (FY09), however it became clear that economic performance of the country would remain weak in current fiscal year.
Published 05 Jun, 2009 12:00am
Inflation in top economies slows in April: OECD

Inflation in top economies slows in April: OECD

Inflation in leading economies slowed in April and the 12 months leading up to it as energy prices plunged amid the economic crisis, the OECD said on Wednesday. Consumer prices in the 30 states of the Organisation for Economic Co-operation and Development
Published 05 Jun, 2009 12:00am
Economic performance weak in fiscal year 2009

Economic performance weak in fiscal year 2009

Pakistan''s economy continued to show macroeconomic stability in the third quarter of the current 2008-09 fiscal year (FY09), however it became clear that economic performance of the country would remain weak in current fiscal year.
Published 05 Jun, 2009 12:00am
Zuma vows 500,000 new jobs despite South Africa recession

Zuma vows 500,000 new jobs despite South Africa recession

President Jacob Zuma vowed Wednesday to create 500,000 jobs this year, insisting South Africa's stinging recession would not alter his development goals, in his first state of the nation speech. In his first major address as the nation's leader, Zuma also
Published 05 Jun, 2009 12:00am
Nine-month M2 growth decelerated sharply

Nine-month M2 growth decelerated sharply

Reducing stocks of government borrowings and credit to private sector in the Broad Money (M2) has decelerated its growth during the first nine months of current fiscal year. According to SBP Third Quarterly Report, growth in M2 has decelerated sharply dur
Published 05 Jun, 2009 12:00am
Bank of Canada warns on C$ rise, holds rates steady

Bank of Canada warns on C$ rise, holds rates steady

The Bank of Canada held its key interest rate unchanged on Thursday at 0.25 percent, as expected, but sent a shot across the bow of currency markets with unusually strong comments on the threat posed by the sharp appreciation of the Canadian dollar.
Published 05 Jun, 2009 12:00am
Private sector credit growth falls to six-year low

Private sector credit growth falls to six-year low

Private sector credit growth has declined to a six-year low of 3 percent by the end of April 09 due to low demand for working capital ahead of slow economic activities and high interest rate, said SBP Third Quarterly Report. The report pointed out that sl
Published 05 Jun, 2009 12:00am
Malaysia's April exports slump, below forecast

Malaysia's April exports slump, below forecast

Malaysia's exports in April shrank by 26.3 percent from a year ago, falling considerably more than the 22 percent expected and economists said that a significant improvement will only take place in the second half. Exports fell to 41.12 billion ringgit ($
Published 05 Jun, 2009 12:00am
Private sector credit growth falls to six-year low

Private sector credit growth falls to six-year low

Private sector credit growth has declined to a six-year low of 3 percent by the end of April 09 due to low demand for working capital ahead of slow economic activities and high interest rate, said SBP Third Quarterly Report. The report pointed out that sl
Published 05 Jun, 2009 12:00am
French unemployment grows at record pace

French unemployment grows at record pace

France's unemployment rate shot up at a record rate to 8.7 percent in the first quarter of 2009, official data showed on Thursday as economists warned it could rise to as high as 10 percent this year. "It's clearly a bad figure," Economy Minister Christin
Published 05 Jun, 2009 12:00am
Private sector credit growth falls to six-year low

Private sector credit growth falls to six-year low

Private sector credit growth has declined to a six-year low of 3 percent by the end of April 09 due to low demand for working capital ahead of slow economic activities and high interest rate, said SBP Third Quarterly Report. The report pointed out that sl
Published 05 Jun, 2009 12:00am
Defaults in Asia-Pacific to reach record this year: S&P

Defaults in Asia-Pacific to reach record this year: S&P

Defaults in the Asia-Pacific will hit a record this year, surpassing the levels set during the financial crisis a decade ago, as the global recession pounds the export-driven region, Standard & Poor's said on Thursday. The forecast reinforces expectations
Published 05 Jun, 2009 12:00am
Nine-month M2 growth decelerated sharply

Nine-month M2 growth decelerated sharply

Reducing stocks of government borrowings and credit to private sector in the Broad Money (M2) has decelerated its growth during the first nine months of current fiscal year. According to SBP Third Quarterly Report, growth in M2 has decelerated sharply dur
Published 05 Jun, 2009 12:00am
Defaults in Asia-Pacific to reach record this year: S&P

Defaults in Asia-Pacific to reach record this year: S&P

Defaults in the Asia-Pacific will hit a record this year, surpassing the levels set during the financial crisis a decade ago, as the global recession pounds the export-driven region, Standard & Poor's said on Thursday. The forecast reinforces expectations
Published 05 Jun, 2009 12:00am
Nine-month M2 growth decelerated sharply

Nine-month M2 growth decelerated sharply

Reducing stocks of government borrowings and credit to private sector in the Broad Money (M2) has decelerated its growth during the first nine months of current fiscal year. According to SBP Third Quarterly Report, growth in M2 has decelerated sharply dur
Published 05 Jun, 2009 12:00am
Message from Ambassador of Italy to Pakistan

Message from Ambassador of Italy to Pakistan

The Italian National Day this year is taking place in a time of tensions for Pakistan. Let me nevertheless express on this occasion my warmest wishes to the members of the Italian Community in Pakistan as well as to our Pakistani and Foreign Friends. We a
Published 05 Jun, 2009 12:00am
Nine-month M2 growth decelerated sharply

Nine-month M2 growth decelerated sharply

Reducing stocks of government borrowings and credit to private sector in the Broad Money (M2) has decelerated its growth during the first nine months of current fiscal year. According to SBP Third Quarterly Report, growth in M2 has decelerated sharply dur
Published 05 Jun, 2009 12:00am
Denmark cuts interest rate

Denmark cuts interest rate

Denmark's central bank said Thursday it would cut its key interest rate by 0.10 point to 1.55 percent effective June 8, just hours after the European Central Bank kept its rates unchanged. Denmark, an EU member but not part of the euro single currency zon
Published 05 Jun, 2009 12:00am
LSM growth negative for 10 months in a row

LSM growth negative for 10 months in a row

Weakness in domestic demand, power shortages and deterioration in law & order situation have shrunk Large Scale Manufacturing (LSM) growth, said SBP's Third Quarterly Report. The report pointed out that growth in LSM has been negative for the 10th consecu
Published 05 Jun, 2009 12:00am
Message from Consul General of Italy

Message from Consul General of Italy

I am very happy to address both Pakistani and Italian readers of this prestigious newspaper on the auspicious occasion of the National Day of Italy. In celebrating it, I would like to take this opportunity to express my gratitude and present my warmest gr
Published 05 Jun, 2009 12:00am
LSM growth negative for 10 months in a row

LSM growth negative for 10 months in a row

Weakness in domestic demand, power shortages and deterioration in law & order situation have shrunk Large Scale Manufacturing (LSM) growth, said SBP''s Third Quarterly Report. The report pointed out that growth in LSM has been negative for the 10th consec
Published 05 Jun, 2009 12:00am
The economy of Italy

The economy of Italy

According to the International Monetary Fund, in 2008 Italy was the seventh-largest economy in the world and the fourth-largest in Europe. The country is divided into a developed industrial north dominated by large private companies and an agricultural, s
Published 05 Jun, 2009 12:00am
LSM growth negative for 10 months in a row

LSM growth negative for 10 months in a row

Weakness in domestic demand, power shortages and deterioration in law & order situation have shrunk Large Scale Manufacturing (LSM) growth, said SBP's Third Quarterly Report. The report pointed out that growth in LSM has been negative for the 10th consecu
Published 05 Jun, 2009 12:00am
Country to miss CPI inflation target

Country to miss CPI inflation target

State Bank of Pakistan (SBP) has said that resurgence in international commodity prices poses risks to the assessment of a continued sharp decline in inflation in the months ahead and average CPI inflation would be over the target by the end of FY09.
Published 05 Jun, 2009 12:00am
Gadoon Textile Mills: Twenty years of distinguished service

Gadoon Textile Mills: Twenty years of distinguished service

Gadoon Textile Mills Limited (GTML) today is the largest spinning unit in the country, meeting the domestic and international demand of 100% cotton and blended yarns. Despite the challenges enroute a journey of twenty years, the Company has remained focus
Published 05 Jun, 2009 12:00am
LSM growth negative for 10 months in a row

LSM growth negative for 10 months in a row

Weakness in domestic demand, power shortages and deterioration in law & order situation have shrunk Large Scale Manufacturing (LSM) growth, said SBP''''s Third Quarterly Report. The report pointed out that growth in LSM has been negative for the 10th cons
Published 05 Jun, 2009 12:00am
The best tourist attraction in Italy

The best tourist attraction in Italy

Portovenere, Cinque Terre: Monterosso al Mare, Vernazza, Corniglia, Manarola and Riomaggiore: five antique villages gripping onto a short part of the Levante Ligurian coast between Levanto and Punta del Mesco to the West and Portovenere to the East.
Published 05 Jun, 2009 12:00am
Country to miss CPI inflation target

Country to miss CPI inflation target

State Bank of Pakistan (SBP) has said that resurgence in international commodity prices poses risks to the assessment of a continued sharp decline in inflation in the months ahead and average CPI inflation would be over the target by the end of FY09.
Published 05 Jun, 2009 12:00am
Textile industry in Pakistan

Textile industry in Pakistan

The textile industry in Pakistan is 80% dependent on exports. With the recent global recession which is expected to continue till the end of 2010, Pakistan's textile sector is facing a do or die situation in which governments of regional competitors are e
Published 05 Jun, 2009 12:00am
Country to miss CPI inflation target

Country to miss CPI inflation target

State Bank of Pakistan (SBP) has said that resurgence in international commodity prices poses risks to the assessment of a continued sharp decline in inflation in the months ahead and average CPI inflation would be over the target by the end of FY09.
Published 05 Jun, 2009 12:00am
The Yunus Brothers Group

The Yunus Brothers Group

Yunus Brothers Group (YB Group), which is one of the largest business groups of the country, has grown up phenomenally over the last fifty years. The ethics of the founding Chairman of the YB Group, Abdul Aziz Tabba, emphasising hard work, reliability, qu
Published 05 Jun, 2009 12:00am
Banking sector spread declines 12 basis points in April

Banking sector spread declines 12 basis points in April

The banking sector spread has declined by 12bps in April 2009 over the previous month to 7.54 percent. On the other hand, on year-on-year basis, this is still 39bps higher in April 2009 than the level observed in April 2008. In the first four months of 20
Published 05 Jun, 2009 12:00am
SAF Group of Companies

SAF Group of Companies

SAF was first established in 1990 by Mr Ali Salman Syed who perceived the enormous potential in developing a market which was absolutely innovative; developing new ideas and competent methods for producing a huge platform. The founders far sighted entrepr
Published 05 Jun, 2009 12:00am
Fiscal year 2009 agriculture growth would be reasonably good

Fiscal year 2009 agriculture growth would be reasonably good

The agriculture growth would be reasonably better during the FY09 due to the record wheat and rice harvests together with the likelihood of good production in minor crops, said the SBP''''s Third Quarterly Report. The report pointed out that reasonable pe
Published 05 Jun, 2009 12:00am
Fiscal year 2009 agriculture growth would be reasonably good

Fiscal year 2009 agriculture growth would be reasonably good

The agriculture growth would be reasonably better during the FY09 due to the record wheat and rice harvests together with the likelihood of good production in minor crops, said the SBP''s Third Quarterly Report. The report pointed out that reasonable perf
Published 05 Jun, 2009 12:00am
Fiscal year 2009 agriculture growth would be reasonably good

Fiscal year 2009 agriculture growth would be reasonably good

The agriculture growth would be reasonably better during the FY09 due to the record wheat and rice harvests together with the likelihood of good production in minor crops, said the SBP's Third Quarterly Report. The report pointed out that reasonable perfo
Published 05 Jun, 2009 12:00am
Fiscal year 2009 agriculture growth would be reasonably good

Fiscal year 2009 agriculture growth would be reasonably good

The agriculture growth would be reasonably better during the FY09 due to the record wheat and rice harvests together with the likelihood of good production in minor crops, said the SBP's Third Quarterly Report. The report pointed out that reasonable perfo
Published 05 Jun, 2009 12:00am
Country to miss CPI inflation target

Country to miss CPI inflation target

State Bank of Pakistan (SBP) has said that resurgence in international commodity prices poses risks to the assessment of a continued sharp decline in inflation in the months ahead and average CPI inflation would be over the target by the end of FY09.
Published 05 Jun, 2009 12:00am
New York cotton

New York cotton

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

Published 05 Jun, 2009 12:00am
SECP asks FBR to extend tax credit to individuals

SECP asks FBR to extend tax credit to individuals

The Securities and Exchange Commission of Pakistan (SECP) has asked the Federal Board of Revenue (FBR) to extend "tax credit" to individuals, paying premium to acquire general insurance from an insurance company from 2009-10. In case, the government appro
Published 05 Jun, 2009 12:00am
New York cotton

New York cotton

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

Published 05 Jun, 2009 12:00am
SECP asks FBR to extend tax credit to individuals

SECP asks FBR to extend tax credit to individuals

The Securities and Exchange Commission of Pakistan (SECP) has asked the Federal Board of Revenue (FBR) to extend "tax credit" to individuals, paying premium to acquire general insurance from an insurance company from 2009-10. In case, the government appro
Published 05 Jun, 2009 12:00am
SECP asks FBR to extend tax credit to individuals

SECP asks FBR to extend tax credit to individuals

The Securities and Exchange Commission of Pakistan (SECP) has asked the Federal Board of Revenue (FBR) to extend "tax credit" to individuals, paying premium to acquire general insurance from an insurance company from 2009-10. In case, the government appro
Published 05 Jun, 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 05 Jun, 2009 12:00am
Banking sector spread declines 12 basis points in April

Banking sector spread declines 12 basis points in April

The banking sector spread has declined by 12bps in April 2009 over the previous month to 7.54 percent. On the other hand, on year-on-year basis, this is still 39bps higher in April 2009 than the level observed in April 2008. In the first four months of 20
Published 05 Jun, 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 05 Jun, 2009 12:00am
Banking sector spread declines 12 basis points in April

Banking sector spread declines 12 basis points in April

The banking sector spread has declined by 12bps in April 2009 over the previous month to 7.54 percent. On the other hand, on year-on-year basis, this is still 39bps higher in April 2009 than the level observed in April 2008. In the first four months of 20
Published 05 Jun, 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 Thursday (June 04, 2009).

Published 05 Jun, 2009 12:00am
Banking sector spread declines 12 basis points in April

Banking sector spread declines 12 basis points in April

The banking sector spread has declined by 12bps in April 2009 over the previous month to 7.54 percent. On the other hand, on year-on-year basis, this is still 39bps higher in April 2009 than the level observed in April 2008. In the first four months of 20
Published 05 Jun, 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 Thursday (June 04, 2009).

Published 05 Jun, 2009 12:00am
KSE witnesses bearish trend

KSE witnesses bearish trend

Bearish trend continued at the Karachi share market on Thursday as the benchmark KSE-100 index declined by 111.80 points to close at 6,878.14 points level. Trading activities also remained low as the volumes at ready counter significantly declined to 93.5
Published 05 Jun, 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 Thursday (June 04, 2009).

Published 05 Jun, 2009 12:00am
KSE witnesses bearish trend

KSE witnesses bearish trend

Bearish trend continued at the Karachi share market on Thursday as the benchmark KSE-100 index declined by 111.80 points to close at 6,878.14 points level. Trading activities also remained low as the volumes at ready counter significantly declined to 93.5
Published 05 Jun, 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 Thursday (June 04, 2009).

Published 05 Jun, 2009 12:00am
SECP registers 24 foreign companies in May

SECP registers 24 foreign companies in May

The Securities and Exchange Commission of Pakistan (SECP) registered 24 foreign companies having foreign investment in key sector including services, trading, communications and power generation during May, 2009 against 16 companies registered in April, 2
Published 05 Jun, 2009 12:00am
SECP proposes amendments to Listed Companies Regulations 2008

SECP proposes amendments to Listed Companies Regulations 2008

The Securities and Exchange Commission of Pakistan (SECP) on Thursday proposed comprehensive amendments to the Listed Companies (Substantial Acquisition of Voting Shares and Take-overs) Regulations, 2008 (Take-over Regulations) to revise prescribed offer
Published 05 Jun, 2009 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (June 04, 2009).
Published 05 Jun, 2009 12:00am
KSE witnesses bearish trend

KSE witnesses bearish trend

Bearish trend continued at the Karachi share market on Thursday as the benchmark KSE-100 index declined by 111.80 points to close at 6,878.14 points level. Trading activities also remained low as the volumes at ready counter significantly declined to 93.5
Published 05 Jun, 2009 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (June 04, 2009).

Published 05 Jun, 2009 12:00am
BRIndex30 down by 123.87 points

BRIndex30 down by 123.87 points

On Thursday, BRIndex30 opened at 6,421.86. It closed at 6,301.00 with a net negative change of -123.87 points and percentage change of -1.93. The volume amounted to 65,095,100, which was 69.55 percent of the total market and 85.61 percent of KSE-100 index
Published 05 Jun, 2009 12:00am
BRIndex30 down by 123.87 points

BRIndex30 down by 123.87 points

On Thursday, BRIndex30 opened at 6,421.86. It closed at 6,301.00 with a net negative change of -123.87 points and percentage change of -1.93. The volume amounted to 65,095,100, which was 69.55 percent of the total market and 85.61 percent of KSE-100 index
Published 05 Jun, 2009 12:00am
But no word about Palestinian diaspora

But no word about Palestinian diaspora

Though it was billed as a speech by US President Barack Hussain Obama to the Muslim world it was, in fact, aimed more at the Arabs. In fact if there was a secondary audience then that was Muslim America. However, the most daring thing for a US politician
Published 05 Jun, 2009 12:00am
But no word about Palestinian diaspora

But no word about Palestinian diaspora

Though it was billed as a speech by US President Barack Hussain Obama to the Muslim world it was, in fact, aimed more at the Arabs. In fact if there was a secondary audience then that was Muslim America. However, the most daring thing for a US politician
Published 05 Jun, 2009 12:00am
Equities move both ways on LSE

Equities move both ways on LSE

Equities moved both the ways on the Lahore Stock Exchange (LSE) on Thursday and finally settled in red zone, amid descending trading turnover due to lacking interest on the part of investors and the institutions who remained on the sideline.
Published 05 Jun, 2009 12:00am
Equities move both ways on LSE

Equities move both ways on LSE

Equities moved both the ways on the Lahore Stock Exchange (LSE) on Thursday and finally settled in red zone, amid descending trading turnover due to lacking interest on the part of investors and the institutions who remained on the sideline.
Published 05 Jun, 2009 12:00am
Losers outclass gainers at ISE

Losers outclass gainers at ISE

Losers outclassed gainers at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite trend-setters amid decrease in index. ISE Ten Index showed a decrease of 25.16 points, as the Index moved from 1,630.73 to
Published 05 Jun, 2009 12:00am
Losers outclass gainers at ISE

Losers outclass gainers at ISE

Losers outclassed gainers at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite trend-setters amid decrease in index. ISE Ten Index showed a decrease of 25.16 points, as the Index moved from 1,630.73 to
Published 05 Jun, 2009 12:00am
Salman predicts a deficit budget for 2009-10

Salman predicts a deficit budget for 2009-10

Former Federal finance minister and leading economist Dr Salman Shah has predicted a deficit budget for 2009-10 due to failure in achieving revenue targets set for the 2008-09 fiscal year. Addressing a pre-budget seminar, organised by the Pakistan Muslim
Published 05 Jun, 2009 12:00am
Salman predicts a deficit budget for 2009-10

Salman predicts a deficit budget for 2009-10

Former Federal finance minister and leading economist Dr Salman Shah has predicted a deficit budget for 2009-10 due to failure in achieving revenue targets set for the 2008-09 fiscal year. Addressing a pre-budget seminar, organised by the Pakistan Muslim
Published 05 Jun, 2009 12:00am
Salman predicts a deficit budget for 2009-10

Salman predicts a deficit budget for 2009-10

Former Federal finance minister and leading economist Dr Salman Shah has predicted a deficit budget for 2009-10 due to failure in achieving revenue targets set for the 2008-09 fiscal year. Addressing a pre-budget seminar, organised by the Pakistan Muslim
Published 05 Jun, 2009 12:00am
World Environment Day today

World Environment Day today

People around the world would unite for the planet on June 5 for the World Environment Day 2009, with a strong call for environmental action just six months before the crucial United Nations climate change talks in Copenhagen.
Published 05 Jun, 2009 12:00am
'PPP will soon succeed in strengthening its roots in Punjab'

'PPP will soon succeed in strengthening its roots in Punjab'

Senior Provincial Minister, Raja Riaz Ahmad, has said that Pakistan People's Party (PPP) will soon succeed in strengthening its roots in the province of Punjab. Moreover, despite difficult time, PPP leadership is determined not to impose any new tax in co
Published 05 Jun, 2009 12:00am
Government to set up latest livestock farm by 2012

Government to set up latest livestock farm by 2012

Punjab Minister for Agriculture and Livestock, Ahmad Ali Aulakh said here on Thursday that the government would set up a latest livestock farm by year 2012 at a cost of Rs 750 million to ensure more production of milk and meat and breeding of quality anim
Published 05 Jun, 2009 12:00am
Zardari may meet Sharifs at Raiwind this weekend

Zardari may meet Sharifs at Raiwind this weekend

For a major political breakthrough President Asif Ali Zardari is likely to meet Pakistan Muslim League-N Quaid Mohammad Nawaz Sharif and his younger brother Chief Minister Shahbaz Sharif at their Raiwind residence this weekend. Other top leaders of the tw
Published 05 Jun, 2009 12:00am