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Print - 2009-06-24
Japan pushes back fiscal reform as debt burden grows

Japan pushes back fiscal reform as debt burden grows

Japan's government backtracked on 220 billion yen ($2.3 billion) in welfare spending cuts on Tuesday in a bid to lure voters, but the move could send bond yields higher as markets fret over the government's fiscal discipline. The government effectively pu
Published 24 Jun, 2009 12:00am
Inter-Arab investments up despite financial crisis

Inter-Arab investments up despite financial crisis

Direct foreign investments to the Arab world increased 20 percent in 2008 compared to the previous year, even as the region grappled with the impact of the global economic meltdown, the head of an Arab investment body said Monday. The gains, which came ev
Published 24 Jun, 2009 12:00am
Japan pushes back fiscal reform as debt burden grows

Japan pushes back fiscal reform as debt burden grows

Japan's government backtracked on 220 billion yen ($2.3 billion) in welfare spending cuts on Tuesday in a bid to lure voters, but the move could send bond yields higher as markets fret over the government's fiscal discipline. The government effectively pu
Published 24 Jun, 2009 12:00am
Eastern Europe to suffer if western banks pull out: EBRD economist

Eastern Europe to suffer if western banks pull out: EBRD economist

Eastern Europe will suffer deeply if major western European banks withdraw from the region and concerted action was needed to keep these lenders engaged there, a European Bank for Reconstruction and Development (EBRD) economist said on Tuesday.
Published 24 Jun, 2009 12:00am
Patchy monsoon may hurt India's economic recovery

Patchy monsoon may hurt India's economic recovery

A patchy start to India's annual monsoon has raised doubts about a nascent economic upturn, as the poor rainfall in June could hurt growth, push up food prices and prompt more government spending to support farmers. The monsoon, crucial to a farm sector t
Published 24 Jun, 2009 12:00am
UK mortgage arrears rate eases in first quarter: FSA

UK mortgage arrears rate eases in first quarter: FSA

The number of British households falling behind for the first time with their mortgage payments eased in the first quarter of 2009, helped by lower interest rates, the Financial Services Authority said on Monday. There were 60,000 new arrears cases in the
Published 24 Jun, 2009 12:00am
'EU to unveil bank guidelines, pharmaceutical report soon'

'EU to unveil bank guidelines, pharmaceutical report soon'

European Union antitrust regulators will soon present guidelines to help banks that are recipients of state aid return to viability, EU Competition Commissioner Neelie Kroes said on Tuesday. She also said the European Commission would release its final re
Published 24 Jun, 2009 12:00am
New South Korean banknote makes debut after 36-year wait

New South Korean banknote makes debut after 36-year wait

South Korea Tuesday issued its first high-denomination banknote for 36 years, ending an era of bulging wallets and raising hopes among retailers that consumers may be enticed to spend more. The 50,000-won (39 dollar) bill is the highest-value note since t
Published 24 Jun, 2009 12:00am
German consumer confidence rising

German consumer confidence rising

German consumer confidence is rising, helped by an increase in income expectations and a stable job market amid the recession, a survey showed Tuesday. But despite the improvements, research groups continued to slash their growth forecasts, suggesting the
Published 24 Jun, 2009 12:00am
OECD states agree sanction measures for tax havens

OECD states agree sanction measures for tax havens

Ministers from OECD countries agreed on Tuesday on the possibility of imposing sanctions on countries that do not stick to the OECD's tax standards, but left open when such measures should be implemented. The ministers were meeting to pressure nations lik
Published 24 Jun, 2009 12:00am
OECD states agree sanction measures for tax havens

OECD states agree sanction measures for tax havens

Ministers from OECD countries agreed on Tuesday on the possibility of imposing sanctions on countries that do not stick to the OECD's tax standards, but left open when such measures should be implemented. The ministers were meeting to pressure nations lik
Published 24 Jun, 2009 12:00am
Dubai to set oil OSP at differential in new DME boost

Dubai to set oil OSP at differential in new DME boost

Dubai will begin setting the official price of its benchmark crude in relation to Oman oil futures, abandoning decades of opaque pricing to give a fresh push to the two-year-old Dubai Mercantile Exchange contract. The change, which will take effect with J
Published 24 Jun, 2009 12:00am
Key stock and currency market movements

Key stock and currency market movements

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

Published 24 Jun, 2009 12:00am
Anti-corruption body raps UK, other OECD countries

Anti-corruption body raps UK, other OECD countries

The failure of many rich states to crack down on bribery in foreign business deals threatens the fight against corruption, and the global economic crisis could make the situation worse, an advocacy group said on Tuesday. Transparency International said on
Published 24 Jun, 2009 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (June 23, 2009).

Published 24 Jun, 2009 12:00am
Mass layoffs jump tie record

Mass layoffs jump tie record

The number of mass layoffs by US employers rose last month to tie a record set in March, according to government data released on Tuesday that suggested the labour market has yet to stabilise. The Labour Department said the number of mass layoff actions -
Published 24 Jun, 2009 12:00am
UK and Iran order tit-for-tat diplomatic expulsions

UK and Iran order tit-for-tat diplomatic expulsions

Britain said on Tuesday it was throwing out two Iranian diplomats in response to Tehran's expulsion of two British diplomats as relations hit a new low following Iran's disputed presidential election. Iran accused the British diplomats of "activities inco
Published 24 Jun, 2009 12:00am
US existing home sales rise

US existing home sales rise

Sales of previously owned homes in the United States rose at a slower-than-expected pace in May, an industry survey showed on Tuesday, pointing to a sluggish recovery from the severe economic recession. The National Association of Realtors said sales rose
Published 24 Jun, 2009 12:00am
UK and Iran order tit-for-tat diplomatic expulsions

UK and Iran order tit-for-tat diplomatic expulsions

Britain said on Tuesday it was throwing out two Iranian diplomats in response to Tehran's expulsion of two British diplomats as relations hit a new low following Iran's disputed presidential election. Iran accused the British diplomats of "activities inco
Published 24 Jun, 2009 12:00am
Thai Senate approves stimulus decree

Thai Senate approves stimulus decree

Thailand's Senate has approved a fast-track executive decree authorising the government to borrow 400 billion baht ($11.7 billion) to finance economic stimulus spending and fiscal deficits. The upper house of parliament passed the bill tabled by Prime Min
Published 24 Jun, 2009 12:00am
Opec and EU say regulation needed to stop oil bubble

Opec and EU say regulation needed to stop oil bubble

Oil markets risk another speculative bubble unless the financial sector is reformed and transparency increased, but prices are not yet a threat to economic recovery, the EU and Opec said after joint talks on Tuesday. US oil was trading at around $68 a bar
Published 24 Jun, 2009 12:00am
Gold prices six-week low in Asia

Gold prices six-week low in Asia

Gold prices fell to a six-week low on Tuesday, with firmness in the dollar sapping demand as investors awaited the Federal Reserve's two-day policy meeting starting later in the day and its economic outlook. The dollar was firmer against the euro and most
Published 24 Jun, 2009 12:00am
EU and US launch trade case against China

EU and US launch trade case against China

The United States and European Union on Tuesday began a case against China at the World Trade Organisation over its export restrictions on industrial raw materials, saying Beijing was trying to tilt the playing field in favour of its own industries.
Published 24 Jun, 2009 12:00am
Philippines rejects World Bank recession forecast

Philippines rejects World Bank recession forecast

The Philippines' Finance Secretary on Tuesday rejected forecasts by the World Bank that Manila would fall into a recession this year. "We're focused and I think we can hit 0.8 percent (gross domestic product growth)," Margarito Teves told reporters. "The
Published 24 Jun, 2009 12:00am
EU and US launch trade case against China

EU and US launch trade case against China

The United States and European Union on Tuesday began a case against China at the World Trade Organisation over its export restrictions on industrial raw materials, saying Beijing was trying to tilt the playing field in favour of its own industries.
Published 24 Jun, 2009 12:00am
Boeing delays Dreamliner test flight again

Boeing delays Dreamliner test flight again

Boeing Co said on Tuesday that the first flight of its long-delayed 787 Dreamliner would be postponed once more to reinforce an area within the side-of-body section of the aircraft. The revolutionary carbon-composite aircraft, which is already two years b
Published 24 Jun, 2009 12:00am
EU and US launch trade case against China

EU and US launch trade case against China

The United States and European Union on Tuesday began a case against China at the World Trade Organisation over its export restrictions on industrial raw materials, saying Beijing was trying to tilt the playing field in favour of its own industries.
Published 24 Jun, 2009 12:00am
US copper lower

US copper lower

US copper futures settled at a three-week low below $2.15 a lb on Monday, as a strong dollar and expectations of waning purchases from the world's top consumer China combined to drag prices lower. Copper for September delivery plunged 11.75 cents, or 5.2
Published 24 Jun, 2009 12:00am
Government believes in trade: Zardari

Government believes in trade: Zardari

President Asif Ali Zardari said here on Tuesday that the National Finance Commission (NFC) Award would be announced this year. Talking to senior journalists at the Bilawal House he said the government is trying its level best to develop the country. He ma
Published 24 Jun, 2009 12:00am
Shanghai copper rebounds

Shanghai copper rebounds

Shanghai copper rose on Tuesday as investors resumed buying after prices fell over the last three sessions, encouraged by signs the Chinese economy will remain strong. London copper also recovered from losses of more than 5 percent on Monday when a firmer
Published 24 Jun, 2009 12:00am
Rare show of consensus in National Assembly

Rare show of consensus in National Assembly

Combined opposition on Tuesday walked out of the National Assembly while the government ally Muttahida Qaumi Movement (MQM) boycotted the proceedings protesting against the proposed increase in electricity tariff by withdrawing power subsidy from July 1,
Published 24 Jun, 2009 12:00am
US gold drops

US gold drops

US gold futures fell toward $920 an ounce Monday, losing nearly 2 percent as tumbling crude oil prices decreased funds buying bullion as a hedge, triggering broad-based weakness across the commodities sector. August settled down $15.20, or 1.6 percent, at
Published 24 Jun, 2009 12:00am
Rare show of consensus in National Assembly

Rare show of consensus in National Assembly

Combined opposition on Tuesday walked out of the National Assembly while the government ally Muttahida Qaumi Movement (MQM) boycotted the proceedings protesting against the proposed increase in electricity tariff by withdrawing power subsidy from July 1,
Published 24 Jun, 2009 12:00am
US soyabean futures slide

US soyabean futures slide

US soyabean futures on the Chicago Board of Trade dipped to a one-month low on Monday as an improved weather outlook for young crops and the tail-end of planting triggered sales, traders said. Greenhouse like conditions in the US Midwest give young plants
Published 24 Jun, 2009 12:00am
Government believes in trade: Zardari

Government believes in trade: Zardari

President Asif Ali Zardari said here on Tuesday that the National Finance Commission (NFC) Award would be announced this year. Talking to senior journalists at the Bilawal House he said the government is trying its level best to develop the country. He ma
Published 24 Jun, 2009 12:00am
Malaysian palm oil erases losses

Malaysian palm oil erases losses

Most vegetable oil markets rebounded on Tuesday with palm oil erasing most of its losses made the day before as hopes of better exports and lingering fears of tight supplies boosted sentiment. Vegetable oil prices are gaining as traders anticipate that Ch
Published 24 Jun, 2009 12:00am
Government believes in trade: Zardari

Government believes in trade: Zardari

President Asif Ali Zardari said here on Tuesday that the National Finance Commission (NFC) Award would be announced this year. Talking to senior journalists at the Bilawal House he said the government is trying its level best to develop the country. He ma
Published 24 Jun, 2009 12:00am
Malaysian tin lower

Malaysian tin lower

Malaysian tin fell 2.7 percent on Tuesday after prices on the London Metal Exchange dropped sharply but support from Japanese and European buyers limited the losses, a dealer said.
Published 24 Jun, 2009 12:00am
CJP takes suo motu notice of proposed raise in power tariff

CJP takes suo motu notice of proposed raise in power tariff

Chief Justice Iftikhar Muhammad Chaudhry on Tuesday took suo motu notice of the proposed plan to increase power tariff by at least a whopping 17 percent across the board, with the exception of lifeline consumers from effective July 1 in spite of massive l
Published 24 Jun, 2009 12:00am
New York sugar settles firmer

New York sugar settles firmer

Raw sugar futures settled higher Monday on late short-covering and switch trade as players moved out of positions in the spot contract before it expires next week, brokers said. The key October raw sugar contract rose 0.17 cent to finish at 16.24 cents pe
Published 24 Jun, 2009 12:00am
CJP takes suo motu notice of proposed raise in power tariff

CJP takes suo motu notice of proposed raise in power tariff

Chief Justice Iftikhar Muhammad Chaudhry on Tuesday took suo motu notice of the proposed plan to increase power tariff by at least a whopping 17 percent across the board, with the exception of lifeline consumers from effective July 1 in spite of massive l
Published 24 Jun, 2009 12:00am
Oil extends fall below $67

Oil extends fall below $67

Oil steepened losses below $67 a barrel on Tuesday, after a fall of nearly 4 percent the previous day, as renewed worries over the uncertain outlook for major economies sparked a sell-off across global equity markets. The market awaits US weekly inventory
Published 24 Jun, 2009 12:00am
Rare show of consensus in National Assembly

Rare show of consensus in National Assembly

Combined opposition on Tuesday walked out of the National Assembly while the government ally Muttahida Qaumi Movement (MQM) boycotted the proceedings protesting against the proposed increase in electricity tariff by withdrawing power subsidy from July 1,
Published 24 Jun, 2009 12:00am
US rice futures slip

US rice futures slip

US rice futures on the Chicago Board of Trade slipped on Monday as a firmer dollar spurred selling in commodities, including rice, traders said. When the dollar strengthens, it increases the cost of US commodities for overseas buyers and sparks managed fu
Published 24 Jun, 2009 12:00am
CJP takes suo motu notice of proposed raise in power tariff

CJP takes suo motu notice of proposed raise in power tariff

Chief Justice Iftikhar Muhammad Chaudhry on Tuesday took suo motu notice of the proposed plan to increase power tariff by at least a whopping 17 percent across the board, with the exception of lifeline consumers from effective July 1 in spite of massive l
Published 24 Jun, 2009 12:00am
Tokyo rubber down

Tokyo rubber down

Key Tokyo rubber futures fell to their lowest level in nearly three months on Tuesday as investor sentiment was hurt by a drop in oil prices and concerns about the economy. The recent sell-off has caused technical charts to worsen, and they now suggest a
Published 24 Jun, 2009 12:00am
Indian court orders arrest warrants for 22 terrorist suspects

Indian court orders arrest warrants for 22 terrorist suspects

An special court in India on Tuesday ordered arrest warrants for 22 Pakistani nationals suspected of involvement in the Mumbai terrorist attack last November, news reports said. Those named in the warrants include Hafiz Sayeed, the chief of the Jamaat-ud-
Published 24 Jun, 2009 12:00am
Modest business seen on cotton market

Modest business seen on cotton market

Modest trading was seen on the cotton market on Tuesday as ginners were trying to dispose of unsold crop ahead of arrival of new crop, dealers said. The official spot rate was left unchanged at Rs 3400. About 4,000 bales from different stations changed ha
Published 24 Jun, 2009 12:00am
Companies given one more month for payment of advance tax

Companies given one more month for payment of advance tax

The Federal Board of Revenue (FBR) has decided to provide a major incentive to the corporate sector by extending one-month period for payment of advance tax under Income Tax Ordinance 2001. It is learnt here on Tuesday that the FBR has proposed amendment
Published 24 Jun, 2009 12:00am
Down trend in slow trade on seed, grain market

Down trend in slow trade on seed, grain market

Subdued business was again seen on the grain market on Tuesday as buyers were less interested in the fresh deals, dealers said. On the seed side rapeseed Nawabshah was lower by Rs 50 to Rs 1400 and 1425, other items did not show any change in process of l
Published 24 Jun, 2009 12:00am
Companies given one more month for payment of advance tax

Companies given one more month for payment of advance tax

The Federal Board of Revenue (FBR) has decided to provide a major incentive to the corporate sector by extending one-month period for payment of advance tax under Income Tax Ordinance 2001. It is learnt here on Tuesday that the FBR has proposed amendment
Published 24 Jun, 2009 12:00am
Oil cake market rates

Oil cake market rates

Upward trend was seen on the forward cottonseed oilcake market on Tuesday as buyers were active to meet the near-term needs, dealers said. The July vaida commenced with 50 paisa gain at Rs 989.80, the December contract also gained 80 paisa at Rs 883.40 du
Published 24 Jun, 2009 12:00am
Indian court orders arrest warrants for 22 terrorist suspects

Indian court orders arrest warrants for 22 terrorist suspects

An special court in India on Tuesday ordered arrest warrants for 22 Pakistani nationals suspected of involvement in the Mumbai terrorist attack last November, news reports said. Those named in the warrants include Hafiz Sayeed, the chief of the Jamaat-ud-
Published 24 Jun, 2009 12:00am
US wheat futures hit lows

US wheat futures hit lows

US wheat futures hit lows not seen in more than six weeks on Monday as forecasts for the first summer heatwave bode well for harvest but weighed on grains across the board. Benchmark Chicago Board of Trade July soft red winter wheat futures ended down 9-1
Published 24 Jun, 2009 12:00am
US envoy reaffirms pledges to build ROZs in Fata

US envoy reaffirms pledges to build ROZs in Fata

US Ambassador Anne W Patterson on Tuesday reaffirmed pledge to build the Reconstruction Opportunity Zones (ROZs) in the border areas of Pakistan to prevent people from turning into extremist through provision of employment. Speaking at inauguration ceremo
Published 24 Jun, 2009 12:00am
Vietnam coffee sales to pick up on price rebound

Vietnam coffee sales to pick up on price rebound

Coffee sales in Vietnam are expected to pick up this week after domestic prices, tracking gains in London, rose 2.5 percent on Tuesday from late last week, traders said. On Monday London's September robusta coffee contract finished up $9 at $1,379 a tonne
Published 24 Jun, 2009 12:00am
'Pak-India Prime Ministers to meet in Shermul Al Shiekh'

'Pak-India Prime Ministers to meet in Shermul Al Shiekh'

Foreign Minister Makhdoom Shah Mehmood Qureshi has said that the meeting of Pak-India leadership during the SEO Conference would be an important step towards the development between two countries. The meeting would be between the Prime Ministers of both c
Published 24 Jun, 2009 12:00am
KCBT wheat ends lower

KCBT wheat ends lower

Hard red winter wheat futures on the Kansas City Board of Trade settled lower on Monday - the ninth straight session of losses - as traders eyed more favourable harvest weather. July settled 10-3/4 cents per bushel lower at $6.04 and ranged from $6.02 to
Published 24 Jun, 2009 12:00am
Sugar tender cancellation: ECC to quiz Commerce, Industries ministries

Sugar tender cancellation: ECC to quiz Commerce, Industries ministries

The Economic Co-ordination Committee (ECC) of the Cabinet is to quiz the Ministries of Commerce and Industries for their reported involvement in cancellation of sugar import tenders, which ultimately benefited the sugar cartel, sources told Business Re
Published 24 Jun, 2009 12:00am
Biodiesel slump aids US soyaoil exports

Biodiesel slump aids US soyaoil exports

Falling US biodiesel production is likely to sharply push up US soyaoil exports in coming months as producers seek new markets, Hamburg-based oilseeds analysts Oil World said on Tuesday. "The decline in usage for biodiesel production will probably pressur
Published 24 Jun, 2009 12:00am
Sugar tender cancellation: ECC to quiz Commerce, Industries ministries

Sugar tender cancellation: ECC to quiz Commerce, Industries ministries

The Economic Co-ordination Committee (ECC) of the Cabinet is to quiz the Ministries of Commerce and Industries for their reported involvement in cancellation of sugar import tenders, which ultimately benefited the sugar cartel, sources told Business Re
Published 24 Jun, 2009 12:00am
Canadian canola ends lower

Canadian canola ends lower

ICE Canadian canola closed lower on Monday as rain improved prospects for drought-stricken crops in Western Canada and US soybeans fell hard, traders said. July canola dropped $8.70 to settle at $458.10 per tonne on volume of 4,021 contracts. New-crop Nov
Published 24 Jun, 2009 12:00am
Sugar tender cancellation: ECC to quiz Commerce, Industries ministries

Sugar tender cancellation: ECC to quiz Commerce, Industries ministries

The Economic Co-ordination Committee (ECC) of the Cabinet is to quiz the Ministries of Commerce and Industries for their reported involvement in cancellation of sugar import tenders, which ultimately benefited the sugar cartel, sources told Business Re
Published 24 Jun, 2009 12:00am
FOB Gulf soya bids firm, corn generally steady

FOB Gulf soya bids firm, corn generally steady

US soyabean export premiums at the Gulf of Mexico were steady to firm on Monday amid tight supplies and rising premiums in competing exporter Brazil, while corn premiums were generally steady, traders said. South American soyabean prices for nearby shipme
Published 24 Jun, 2009 12:00am
British MPs could face jail in parliament shake-up

British MPs could face jail in parliament shake-up

British lawmakers could face jail for making false expenses claims, under reform proposals unveiled Tuesday to respond to a scandal which has shaken Prime Minister Gordon Brown's government to its core. The legislative plans were presented as a new speake
Published 24 Jun, 2009 12:00am
US Midwest soyabeans mixed, corn firm

US Midwest soyabeans mixed, corn firm

Spot basis bids for corn were steady to firm at locations around the US Midwest on Monday while soyabean bids were mixed amid slow farmer selling, grain dealers said. A sharp drop in the futures market cut into cash prices, leaving them well below growers
Published 24 Jun, 2009 12:00am
Companies given one more month for payment of advance tax

Companies given one more month for payment of advance tax

The Federal Board of Revenue (FBR) has decided to provide a major incentive to the corporate sector by extending one-month period for payment of advance tax under Income Tax Ordinance 2001. It is learnt here on Tuesday that the FBR has proposed amendment
Published 24 Jun, 2009 12:00am
Global June-August soyabean exports to fall: Oil World

Global June-August soyabean exports to fall: Oil World

Global soyabean exports will fall in June to August this year as high prices are likely to cut demand, Hamburg-based oilseeds analysts Oil World forecast on Tuesday. "It is still uncertain whether the recent rally in soyabean futures to a new eight-month
Published 24 Jun, 2009 12:00am
Egypt buys three million tonnes of local wheat

Egypt buys three million tonnes of local wheat

Egypt has bought 3 million tonnes of domestic wheat since the start of the local buying season, state news agency MENA reported Egypt's Social Solidarity Minister as saying on Tuesday. Ali Musailhi said the amount was 500,000 tonnes more than targeted, ME
Published 24 Jun, 2009 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 116,890 tonnes of cargo including 82,601 tonnes import and 34,289 tonnes export cargo during last 24 hours ending at 0700 hours on Tuesday. The cargo comprised of 86,397 tonnes dry cargo including 55,571 tonnes general cargo; 2,41
Published 24 Jun, 2009 12:00am
NWFP annoyed by Wapda for non-payment of Rs six billion NHP

NWFP annoyed by Wapda for non-payment of Rs six billion NHP

The NWFP government has expressed annoyance over Water and Power Development Authority (Wapda) for not paying rupees six billion Net Hydel Profit (NHP) due to which the provincial government''s Account No-1 has gone into red, official sources told Busi
Published 24 Jun, 2009 12:00am
New York cotton

New York cotton

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

Published 24 Jun, 2009 12:00am
NWFP annoyed by Wapda for non-payment of Rs six billion NHP

NWFP annoyed by Wapda for non-payment of Rs six billion NHP

The NWFP government has expressed annoyance over Water and Power Development Authority (Wapda) for not paying rupees six billion Net Hydel Profit (NHP) due to which the provincial government's Account No-1 has gone into red, official sources told Busin
Published 24 Jun, 2009 12:00am
New York cotton

New York cotton

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

Published 24 Jun, 2009 12:00am
NWFP annoyed by Wapda for non-payment of Rs six billion NHP

NWFP annoyed by Wapda for non-payment of Rs six billion NHP

The NWFP government has expressed annoyance over Water and Power Development Authority (Wapda) for not paying rupees six billion Net Hydel Profit (NHP) due to which the provincial government's Account No-1 has gone into red, official sources told Busin
Published 24 Jun, 2009 12:00am
President thanks Angelina Jolie for helping Swat IDPs

President thanks Angelina Jolie for helping Swat IDPs

President Asif Ali Zardari has thanked Hollywood superstar Angelina Jolie for her donation for the displaced people of Swat and Malakand. In a telephonic conversation with Jolie last night, President Zardari acknowledged her humanitarian gesture for the d
Published 24 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 24 Jun, 2009 12:00am
KSE witnesses dull session

KSE witnesses dull session

Karachi share market witnessed another dull session on Tuesday mainly due to the absence of leverage product and confusion regarding imposition of new tax on brokerage, analysts said. The benchmark KSE-100 index lost 33.78 points to close at 7,023.48 poin
Published 24 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 24 Jun, 2009 12:00am
KSE witnesses dull session

KSE witnesses dull session

Karachi share market witnessed another dull session on Tuesday mainly due to the absence of leverage product and confusion regarding imposition of new tax on brokerage, analysts said. The benchmark KSE-100 index lost 33.78 points to close at 7,023.48 poin
Published 24 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 Tuesday (June 23, 2009).

Published 24 Jun, 2009 12:00am
KSE witnesses dull session

KSE witnesses dull session

Karachi share market witnessed another dull session on Tuesday mainly due to the absence of leverage product and confusion regarding imposition of new tax on brokerage, analysts said. The benchmark KSE-100 index lost 33.78 points to close at 7,023.48 poin
Published 24 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 Tuesday (June 23, 2009).

Published 24 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 Tuesday (June 23, 2009).

Published 24 Jun, 2009 12:00am
Orascom plans IPOs, mobile banking in Pakistan

Orascom plans IPOs, mobile banking in Pakistan

Egypt's Orascom Telecom (OT) will launch a mobile banking operation in Pakistan this month and list shares in two North African subsidiaries by early 2010, the firm's chairman and chief executive told Reuters on Tuesday. "Tunisia will happen definitely th
Published 24 Jun, 2009 12:00am
Dubai Banking Group starts legal move versus Shuaa

Dubai Banking Group starts legal move versus Shuaa

Dubai Banking Group (DBG) and Shuaa Capital moved closer to a court battle over a $409 million bond dispute after DBG on Tuesday said it had initiated legal proceedings. The dispute, which has weighed heavily on Shuaa's share price in recent days, revolve
Published 24 Jun, 2009 12:00am
ISE index down 3.55 points

ISE index down 3.55 points

Equities showed negative signs under the lead of hot favourite at the Islamabad Stock Exchange (ISE) where bears remained in the front seat amid decrease in index. ISE-10 Index was down by 3.55 points from 1,665.81 to 1,662.26 points. The volume of trade
Published 24 Jun, 2009 12:00am
ISE index down 3.55 points

ISE index down 3.55 points

Equities showed negative signs under the lead of hot favourite at the Islamabad Stock Exchange (ISE) where bears remained in the front seat amid decrease in index. ISE-10 Index was down by 3.55 points from 1,665.81 to 1,662.26 points. The volume of trade
Published 24 Jun, 2009 12:00am
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