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Nov 16, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2009-08-20
Moody's says may still cut Swedbank ratings

Moody's says may still cut Swedbank ratings

Moody's Investors Service said on Wednesday it would keep Sweden's Swedbank on review for a possible downgrade following the bank's recent share issue. Moody's said in a statement the Swedish bank's A1 senior debt and deposit ratings and C- financial stre
Published 20 Aug, 2009 12:00am
EU invests millions in 'ultra high-speed' mobile Internet

EU invests millions in 'ultra high-speed' mobile Internet

The European Union announced Tuesday an 18 million euro (25 million dollar) investment in an "ultra high-speed" Internet system to underpin the next generation of mobile services. "Europe's research know-how will continue to set the tone for the developme
Published 20 Aug, 2009 12:00am
UK banks may see retail losses in second-half

UK banks may see retail losses in second-half

Britain's banks are likely to see their battered retail arms slide to a loss in the second half of 2009, as the cost of bad loans, tough competition and wholesale funding continues to weigh, a survey by accountants KPMG found. "Retail banking is just prof
Published 20 Aug, 2009 12:00am
UK banks may see retail losses in second-half

UK banks may see retail losses in second-half

Britain's banks are likely to see their battered retail arms slide to a loss in the second half of 2009, as the cost of bad loans, tough competition and wholesale funding continues to weigh, a survey by accountants KPMG found. "Retail banking is just prof
Published 20 Aug, 2009 12:00am
Coca-Cola, Pepsi on Beijing's worst polluter list

Coca-Cola, Pepsi on Beijing's worst polluter list

The Beijing plants of US soft drink giants Coca-Cola and PepsiCo have been listed as among the top 12 factories causing major water pollution in China's capital, the city government has announced. The list issued by the Beijing Development and Reform Comm
Published 20 Aug, 2009 12:00am
European banks identified in US tax probe

European banks identified in US tax probe

Wealthy US citizens using a government tax-evasion amnesty program have identified almost 10 European banks where they have accounts, the Wall Street Journal said, citing people familiar with the situation. The paper named Credit Suisse Group AG, Julius B
Published 20 Aug, 2009 12:00am
World gold demand dips nine percent on jewellery slump

World gold demand dips nine percent on jewellery slump

World gold demand fell 9 percent in the second quarter to 719.5 tonnes as rising prices and the impact of the global recession curbed jewellery consumption, the World Gold Council said on Wednesday. However, a sharp rise in identifiable investment demand
Published 20 Aug, 2009 12:00am
Nigeria lists bank debtors, threatens legal action

Nigeria lists bank debtors, threatens legal action

Nigeria's central bank has named the defaulting debtors of five banks rescued in a $2.6 billion bailout, including some of its richest and most powerful tycoons, and warned them to pay up or face legal action. The list of more than 200 companies, individu
Published 20 Aug, 2009 12:00am
Six US troops die in Afghanistan ahead of election

Six US troops die in Afghanistan ahead of election

The US military said Wednesday six American troops were killed in Afghanistan, as militants killed six election workers amid growing fears on the eve of the presidential election that insurgents would mar the vote. Two troops were killed in gunfire in the
Published 20 Aug, 2009 12:00am
German producer prices post record fall

German producer prices post record fall

German producer prices posted their biggest annual fall in 60 years in July due to a sharp decrease in energy costs, but economists said the downward trend was unlikely to last and played down fears of deflation. The Federal Statistics Office said on Wedn
Published 20 Aug, 2009 12:00am
Six US troops die in Afghanistan ahead of election

Six US troops die in Afghanistan ahead of election

The US military said Wednesday six American troops were killed in Afghanistan, as militants killed six election workers amid growing fears on the eve of the presidential election that insurgents would mar the vote. Two troops were killed in gunfire in the
Published 20 Aug, 2009 12:00am
US commercial real estate market sags

US commercial real estate market sags

US commercial real estate activity in the second quarter slowed to its lowest level in 15 years as demand for office and retail space collapsed amid the severe recession, a real estate trade group said on Wednesday. The National Association of Realtors (N
Published 20 Aug, 2009 12:00am
US mortgage applications rise as rates plunge

US mortgage applications rise as rates plunge

US mortgage applications rose last week, largely reflecting a jump in demand for home refinancing loans as interest rates slid to a five-week low, data from an industry group showed on Wednesday. Applications for loans to buy a home, an early indicator of
Published 20 Aug, 2009 12:00am
BoE split on QE stimulus rise

BoE split on QE stimulus rise

Bank of England policymakers split earlier this month over how much extra money to pour into Britain's recession-hit economy, with Governor Mervyn King voting unsuccessfully for a bigger 75 billion pound boost. The shock voting pattern revealed by minutes
Published 20 Aug, 2009 12:00am
Row over book on Quaid-e-Azam: BJP expels Jaswant Singh from party

Row over book on Quaid-e-Azam: BJP expels Jaswant Singh from party

India's opposition Hindu nationalists expelled one of the most senior figures in their party on Wednesday amid a row over his book praising Pakistan's founding father Mohammed Ali Jinnah. Jaswant Singh, a former foreign minister and member of parliament f
Published 20 Aug, 2009 12:00am
Fresh confidence boosts UK bank hiring, salaries

Fresh confidence boosts UK bank hiring, salaries

Signs of life are returning to recruitment at Britain's bruised investment banks, with new job openings at a peak for the year and hiring expected to continue after the summer lull. There were twice as many job listings across London's financial sector in
Published 20 Aug, 2009 12:00am
Row over book on Quaid-e-Azam: BJP expels Jaswant Singh from party

Row over book on Quaid-e-Azam: BJP expels Jaswant Singh from party

India's opposition Hindu nationalists expelled one of the most senior figures in their party on Wednesday amid a row over his book praising Pakistan's founding father Mohammed Ali Jinnah. Jaswant Singh, a former foreign minister and member of parliament f
Published 20 Aug, 2009 12:00am
Confidence returning to global financial system: RBA

Confidence returning to global financial system: RBA

Confidence was returning to world financial markets, allowing the relatively resilient local banking system to increasingly borrow without a government guarantee, a top Australian central banker said on Wednesday. In a speech on financial services, Reserv
Published 20 Aug, 2009 12:00am
SOHO China buys Morgan Stanley building

SOHO China buys Morgan Stanley building

Property developer SOHO China said it has agreed to buy a top Shanghai office building from US investment bank Morgan Stanley for around 2.45 billion yuan (358.7 million dollars). The 52-storey office and retail complex, Dong Hai Plaza, is located in down
Published 20 Aug, 2009 12:00am
LHC Chief Justice issues notice to TCP chief

LHC Chief Justice issues notice to TCP chief

Chief Justice of Lahore High Court Khwaja Muhammmad Sharif, observing that the Federal and provincial governments should not be blackmailed by the mills mafia on sugar crisis, has issued notice to the Trading Corporation of Pakistan (TCP) Chairman to appe
Published 20 Aug, 2009 12:00am
Canada's inflation rate hits 56-year low

Canada's inflation rate hits 56-year low

Canada's annual inflation rate hit a 56-year low in July, when prices fell by 0.9 percent from a year earlier on sharply lower energy prices, Statistics Canada said on Wednesday. Analysts had on average expected an annual decline of 0.8 percent. July's fi
Published 20 Aug, 2009 12:00am
LHC Chief Justice issues notice to TCP chief

LHC Chief Justice issues notice to TCP chief

Chief Justice of Lahore High Court Khwaja Muhammmad Sharif, observing that the Federal and provincial governments should not be blackmailed by the mills mafia on sugar crisis, has issued notice to the Trading Corporation of Pakistan (TCP) Chairman to appe
Published 20 Aug, 2009 12:00am
14 dead, 60 feared dead in Siberia plant explosion

14 dead, 60 feared dead in Siberia plant explosion

Rescue workers found two bodies Wednesday in the destroyed engine room of Russia's largest hydroelectric plant, raising the accident's official death toll to 14, officials said. Sixty other workers are missing and feared dead at the massive Sayano-Shushen
Published 20 Aug, 2009 12:00am
LHC Chief Justice issues notice to TCP chief

LHC Chief Justice issues notice to TCP chief

Chief Justice of Lahore High Court Khwaja Muhammmad Sharif, observing that the Federal and provincial governments should not be blackmailed by the mills mafia on sugar crisis, has issued notice to the Trading Corporation of Pakistan (TCP) Chairman to appe
Published 20 Aug, 2009 12:00am
Russia dam disaster shifts power sector assumptions

Russia dam disaster shifts power sector assumptions

A disaster at Russia's largest hydroelectric plant continued to play havoc with the power sector on Wednesday, shifting basic assumptions on investor stock picks, the fuel balance and the long-term price of power. On the Siberian spot market for electrici
Published 20 Aug, 2009 12:00am
Scotland mulls liberty for ailing Lockerbie bomber

Scotland mulls liberty for ailing Lockerbie bomber

Lockerbie bomber Abdelbaset Ali Mohmet al-Megrahi's fate hung in the balance Wednesday as Scotland's justice minister mulled whether to release the ailing Libyan, despite fierce US opposition. According to some media reports, a decision could be taken on
Published 20 Aug, 2009 12:00am
South Korea hopes to become Asia's carbon trading hub

South Korea hopes to become Asia's carbon trading hub

South Korea, one of the world's fastest growing polluters, said on Wednesday it hopes to become Asia's trading hub for carbon emission certificates and related products under its plan for a new carbon exchange from 2011. The government is also considering
Published 20 Aug, 2009 12:00am
'Selection' of trade officers: MoC at it, again

'Selection' of trade officers: MoC at it, again

The Ministry of Commerce has reportedly re-initiated the process of trade officers' selection to adjust 'blue-eyed candidates' of influential families for which interviews of candidates from the private sector will be held on August 21, 2009, sources told
Published 20 Aug, 2009 12:00am
Israel says UN covering up Iran's nuclear arms drive

Israel says UN covering up Iran's nuclear arms drive

Israel is accusing the UN nuclear weapons watchdog of holding back incriminating evidence of Iran's drive to obtain nuclear weapons, the Haaretz newspaper reported on Wednesday. It cited unnamed Israeli officials as saying the International Atomic Energy
Published 20 Aug, 2009 12:00am
'Selection' of trade officers: MoC at it, again

'Selection' of trade officers: MoC at it, again

The Ministry of Commerce has reportedly re-initiated the process of trade officers' selection to adjust 'blue-eyed candidates' of influential families for which interviews of candidates from the private sector will be held on August 21, 2009, sources told
Published 20 Aug, 2009 12:00am
Obama thanks Bill Clinton for North Korea mission

Obama thanks Bill Clinton for North Korea mission

President Barack Obama thanked former President Bill Clinton in person on Tuesday for his trip to North Korea early this month to secure the release of two American journalists, the White House said. The two men met in the White House Situation Room for n
Published 20 Aug, 2009 12:00am
Ex-mill sugar prices: Wattoo accused of striking ''deal'' with PSMA

Ex-mill sugar prices: Wattoo accused of striking ''deal'' with PSMA

Minister for Industries and Production Mian Manzoor Wattoo has been accused of striking a ''personal deal'' with the representatives of Pakistan Sugar Mills Association (PSMA) for agreeing to "unjust" increases in ex-mill sugar prices to Rs 49.75 in Punja
Published 20 Aug, 2009 12:00am
Turkey casts doubt on nuclear plant project

Turkey casts doubt on nuclear plant project

Turkey's energy minister on Wednesday slammed a tender won by Russia's state nuclear giant to build the country's first nuclear power plant amid media reports that Ankara could cancel the project. A consortium led by Russia's Atomstroyexport was the only
Published 20 Aug, 2009 12:00am
Ex-mill sugar prices: Wattoo accused of striking 'deal' with PSMA

Ex-mill sugar prices: Wattoo accused of striking 'deal' with PSMA

Minister for Industries and Production Mian Manzoor Wattoo has been accused of striking a 'personal deal' with the representatives of Pakistan Sugar Mills Association (PSMA) for agreeing to "unjust" increases in ex-mill sugar prices to Rs 49.75 in Punjab
Published 20 Aug, 2009 12:00am
Taiwan minister offers resignation over typhoon

Taiwan minister offers resignation over typhoon

A political storm surrounding Taiwan's Typhoon Morakot gained force Wednesday as the defence minister and cabinet secretary offered to resign over the government's slow response. President Ma Ying-jeou's approval rating dropped to an all-time low of 16 pe
Published 20 Aug, 2009 12:00am
Ex-mill sugar prices: Wattoo accused of striking 'deal' with PSMA

Ex-mill sugar prices: Wattoo accused of striking 'deal' with PSMA

Minister for Industries and Production Mian Manzoor Wattoo has been accused of striking a 'personal deal' with the representatives of Pakistan Sugar Mills Association (PSMA) for agreeing to "unjust" increases in ex-mill sugar prices to Rs 49.75 in Punjab
Published 20 Aug, 2009 12:00am
Indonesia arrests Saudi Arabian with links to hotel attacks

Indonesia arrests Saudi Arabian with links to hotel attacks

Indonesian police said Wednesday they arrested two people including a Saudi Arabian for alleged involvement in bombing attacks at two Jakarta hotels last month that killing nine people. National police spokesman Nanan Soekarna identified the two only as I
Published 20 Aug, 2009 12:00am
BATS, SLB to be launched on KSE next month

BATS, SLB to be launched on KSE next month

The Bond Automated Trading System (BATS) would be launched at the Karachi Stock Exchange (KSE) next month. Adnan Afridi, Managing Director of Karachi Stock Exchange (KSE) while talking to media at a ceremony held at the exchange on Wednesday said that ano
Published 20 Aug, 2009 12:00am
Ahmadinejad may face tough fight over cabinet

Ahmadinejad may face tough fight over cabinet

Iranian President Mahmoud Ahmadinejad is on Wednesday expected to nominate a relative novice as oil minister and seek to bring women into the cabinet for the first time - but he may face a hard fight to win approval from parliament. The outcome will be a
Published 20 Aug, 2009 12:00am
BATS, SLB to be launched on KSE next month

BATS, SLB to be launched on KSE next month

The Bond Automated Trading System (BATS) would be launched at the Karachi Stock Exchange (KSE) next month. Adnan Afridi, Managing Director of Karachi Stock Exchange (KSE) while talking to media at a ceremony held at the exchange on Wednesday said that ano
Published 20 Aug, 2009 12:00am
British exhibition marks 70th anniversary of WWII outbreak

British exhibition marks 70th anniversary of WWII outbreak

The private fears of kings, prime ministers and frightened children are going on show in a new British exhibition marking the lives touched by the 70th anniversary of the start of World War II. Outbreak 1939, which opens Thursday at the Imperial War Museu
Published 20 Aug, 2009 12:00am
BATS, SLB to be launched on KSE next month

BATS, SLB to be launched on KSE next month

The Bond Automated Trading System (BATS) would be launched at the Karachi Stock Exchange (KSE) next month. Adnan Afridi, Managing Director of Karachi Stock Exchange (KSE) while talking to media at a ceremony held at the exchange on Wednesday said that ano
Published 20 Aug, 2009 12:00am
Britain bans Japanese horror film

Britain bans Japanese horror film

Britain's film censors on Wednesday banned the Japanese sadistic horror film "Grotesque", saying its tale of extreme torture featured unrelenting brutality and minimal narrative. The British Board of Film Classification (BBFC) rejected the DVD, meaning it
Published 20 Aug, 2009 12:00am
BATS, SLB to be launched on KSE next month

BATS, SLB to be launched on KSE next month

The Bond Automated Trading System (BATS) would be launched at the Karachi Stock Exchange (KSE) next month. Adnan Afridi, Managing Director of Karachi Stock Exchange (KSE) while talking to media at a ceremony held at the exchange on Wednesday said that ano
Published 20 Aug, 2009 12:00am
Gold rises around $940 in Asia

Gold rises around $940 in Asia

Gold inched up to trade around $940 on Wednesday, maintaining the previous session's firm sentiment with the precious metal Gold stood at $938.50 per ounce at 0530 GMT Wednesday, up 0.1 percent from New York's notional close of $937.30. It rose as high as
Published 20 Aug, 2009 12:00am
''Selection'' of trade officers: MoC at it, again

''Selection'' of trade officers: MoC at it, again

The Ministry of Commerce has reportedly re-initiated the process of trade officers'' selection to adjust ''blue-eyed candidates'' of influential families for which interviews of candidates from the private sector will be held on August 21, 2009, sources t
Published 20 Aug, 2009 12:00am
US gold higher

US gold higher

US gold futures ended higher on Tuesday, rebounding from the previous session's sell-off based on doubts about economic recovery, and the strength of the dollar could set the tone for bullion in the near term. December gol settled up $3.40 at $939.20 an o
Published 20 Aug, 2009 12:00am
Prime Minister constitutes 53-man 'Business Persons Council'

Prime Minister constitutes 53-man 'Business Persons Council'

Prime Mininster Yousuf Raza Gilani has constituted a 53-member 'Business Persons Council' to develop a commerce and trade sector strategy. Mininster for Industries and Production Manzoor Ahmad Wattoo told APP on Wednesday that for the first time in histor
Published 20 Aug, 2009 12:00am
Oil prices slip in Asia

Oil prices slip in Asia

Oil fell towards $69 on Wednesday, after surging more than 3 percent in the previous session on data that showed a surprise fall in US crude stocks, boosting hopes of demand recovery in the world's top energy user. The release of the more closely watched
Published 20 Aug, 2009 12:00am
BRIndex30 sheds 49.16 points

BRIndex30 sheds 49.16 points

On Wednesday, the BRIndex30 opened in the positive zone at 7,299.83 with an upward gap of 56.02 points. But it closed at 7,194.65 with a net negative change of -49.16 points and percentage change of -0.68. It showed intra-day high of 7,339.57 and low of 7
Published 20 Aug, 2009 12:00am
Malaysian tin drops

Malaysian tin drops

Malaysian tin fell for the third day on Wednesday, dragged down by lower London Metal Exchange prices, attracting scattered buying from Japan and Europe, one dealer said. Spot tin price dropped 0.7 percent to $14,600 a tonne.
Published 20 Aug, 2009 12:00am
BRIndex30 sheds 49.16 points

BRIndex30 sheds 49.16 points

On Wednesday, the BRIndex30 opened in the positive zone at 7,299.83 with an upward gap of 56.02 points. But it closed at 7,194.65 with a net negative change of -49.16 points and percentage change of -0.68. It showed intra-day high of 7,339.57 and low of 7
Published 20 Aug, 2009 12:00am
Malaysian palm oil falls

Malaysian palm oil falls

Malaysian crude palm oil futures dropped 3.8 percent to a near 2-week low after sharp falls in China's stock markets and on fears exports may fall below expectations, traders said. Taking a cue from a second steep drop in the Shanghai bourse, benchmark No
Published 20 Aug, 2009 12:00am
KSE index down 42.40 points

KSE index down 42.40 points

The KSE-100 index on Wednesday lost 42.40 points to close at 7,952.70 points level due to profit taking mainly by locals after mid-session. The market started on a positive note and the index hit 8,084.83 points level, up 132.13 points. However, the momen
Published 20 Aug, 2009 12:00am
Kenyan tea up

Kenyan tea up

Kenyan tea prices rose at this week's auction ahead of the Muslim holy month of Ramazan when trading activity in Islamic countries falls considerably and consumption there rises. Mombasa-based Africa Tea Brokers (ATB) said 13 percent of tea on offer, or 1
Published 20 Aug, 2009 12:00am
KSE index down 42.40 points

KSE index down 42.40 points

The KSE-100 index on Wednesday lost 42.40 points to close at 7,952.70 points level due to profit taking mainly by locals after mid-session. The market started on a positive note and the index hit 8,084.83 points level, up 132.13 points. However, the momen
Published 20 Aug, 2009 12:00am
US soyabeans firmer

US soyabeans firmer

US soyabean futures on the Chicago Board of Trade closed higher on Tuesday on news China bought more soya from the United States. Talk among US export traders was China bought up to 15 cargoes of US soyabeans this week after CBOT prices plunged and Chines
Published 20 Aug, 2009 12:00am
KSE index down 42.40 points

KSE index down 42.40 points

The KSE-100 index on Wednesday lost 42.40 points to close at 7,952.70 points level due to profit taking mainly by locals after mid-session. The market started on a positive note and the index hit 8,084.83 points level, up 132.13 points. However, the momen
Published 20 Aug, 2009 12:00am
Tokyo rubber regains

Tokyo rubber regains

Tokyo rubber futures jumped about 4 percent to climb above 200 yen on Wednesday, boosted by crude oil's strong rise and renewed optimism about the economic outlook. The key Tokyo Commodity Exchange rubber contract for January delivery stood at 202.5 yen p
Published 20 Aug, 2009 12:00am
Four new rental power projects: minister fails to get ECC nod

Four new rental power projects: minister fails to get ECC nod

The Minister for Water and Power, Pervez Ashraf, is reported to have failed to get approval for four new rental power projects of 473 MW from the Economic Co-ordination Committee (ECC) of the Cabinet on August 18, 2009, sources in PPIB told Business Re
Published 20 Aug, 2009 12:00am
New York sugar softens

New York sugar softens

Raw sugar futures finished with small losses Tuesday as the market consolidated while the trade mulled if the sweetener will rally anew on bullish fundamentals in the weeks ahead, analysts said. The key October raw sugar contract fell 0.05 cent to end at
Published 20 Aug, 2009 12:00am
Four new rental power projects: minister fails to get ECC nod

Four new rental power projects: minister fails to get ECC nod

The Minister for Water and Power, Pervez Ashraf, is reported to have failed to get approval for four new rental power projects of 473 MW from the Economic Co-ordination Committee (ECC) of the Cabinet on August 18, 2009, sources in PPIB told Business Re
Published 20 Aug, 2009 12:00am
US copper down

US copper down

US copper futures traded with moderate losses on Tuesday. Giving up early gains following two weak US economic reports suggesting growth prospects will remain subdued for awhile, traders said. Copper for September delivery lost 2.60 cent, or 0.94 percent,
Published 20 Aug, 2009 12:00am
Prime Minister constitutes 53-man ''Business Persons Council''

Prime Minister constitutes 53-man ''Business Persons Council''

Prime Mininster Yousuf Raza Gilani has constituted a 53-member ''Business Persons Council'' to develop a commerce and trade sector strategy. Mininster for Industries and Production Manzoor Ahmad Wattoo told APP on Wednesday that for the first time in hist
Published 20 Aug, 2009 12:00am
Shanghai copper slides

Shanghai copper slides

Copper prices fell on Wednesday, with Shanghai futures shedding more than 3 percent and London down by 2 percent under pressure from a slide in Chinese equities. Shanghai copper fell 3.3 percent to end at 46,560 yuan ($6,814) a tonne, after touching 46,00
Published 20 Aug, 2009 12:00am
Prime Minister constitutes 53-man 'Business Persons Council'

Prime Minister constitutes 53-man 'Business Persons Council'

Prime Mininster Yousuf Raza Gilani has constituted a 53-member 'Business Persons Council' to develop a commerce and trade sector strategy. Mininster for Industries and Production Manzoor Ahmad Wattoo told APP on Wednesday that for the first time in histor
Published 20 Aug, 2009 12:00am
Prices move both ways on grain market

Prices move both ways on grain market

Prices moved both ways on the wholesale grain and seed market on Wednesday while many buyers showed little interest in fresh deals, dealers said. On the cereal side barley Sindh and Mardan gained Rs 150 to Rs 2450-2500 in process of slow trading, makai wa
Published 20 Aug, 2009 12:00am
LSE index loses 25.71 points

LSE index loses 25.71 points

Equities on Lahore Stock Exchange on Wednesday could not continue rising trend and registered losses due to lack in buying support, while selling pressure in blue chip stocks upset the market sentiment. The LSE-25 index lost 25.71 points to close at 2392.
Published 20 Aug, 2009 12:00am
US rice prices gain

US rice prices gain

US rice futures on the Chicago Board of Trade closed firm on Tuesday. CBOT September ended up 1 cent per cwt at $13.29-1/2. November closed up 1-1/2 cent at $13.55-1/2. Volume was light, estimated at 612 futures, down significantly from the 6,715 futures
Published 20 Aug, 2009 12:00am
LSE index loses 25.71 points

LSE index loses 25.71 points

Equities on Lahore Stock Exchange on Wednesday could not continue rising trend and registered losses due to lack in buying support, while selling pressure in blue chip stocks upset the market sentiment. The LSE-25 index lost 25.71 points to close at 2392.
Published 20 Aug, 2009 12:00am
Ginners resort to panic selling in face of increased phutti arrivals

Ginners resort to panic selling in face of increased phutti arrivals

Panic selling by ginners was again seen on the cotton market on Wednesday on expectations of increase in phutti arrivals in coming days, dealers said. The official spot rate was unchanged at Rs 3450, they said. In the ready business prices fell modestly a
Published 20 Aug, 2009 12:00am
Four new rental power projects: minister fails to get ECC nod

Four new rental power projects: minister fails to get ECC nod

The Minister for Water and Power, Pervez Ashraf, is reported to have failed to get approval for four new rental power projects of 473 MW from the Economic Co-ordination Committee (ECC) of the Cabinet on August 18, 2009, sources in PPIB told Business Re
Published 20 Aug, 2009 12:00am
Jute goods mixed on Jodia Bazar

Jute goods mixed on Jodia Bazar

The trading in jute goods twine closed mixed on Jodia Bazar on Wednesday. The following changes were noted.
Published 20 Aug, 2009 12:00am
Equities show negative signs at ISE

Equities show negative signs at ISE

Equities showed negative signs at the Islamabad Stock Exchange (ISE), where bears commanded the proceedings under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 18.84 points as the Index moved from 1,905.80 to 1,886.96 points.
Published 20 Aug, 2009 12:00am
Oil cake market rates

Oil cake market rates

Upward trend persisted on the forward cottonseed oilcake market on Wednesday amid thin business, dealers said. The December vaida commenced with a gain of 40 paisa at Rs 898.20 and the January contract also rose by Rs 1.20 to Rs 940.50, they said.
Published 20 Aug, 2009 12:00am
Equities show negative signs at ISE

Equities show negative signs at ISE

Equities showed negative signs at the Islamabad Stock Exchange (ISE), where bears commanded the proceedings under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 18.84 points as the Index moved from 1,905.80 to 1,886.96 points.
Published 20 Aug, 2009 12:00am
Indian soya crop needs more rain, meal exports pause

Indian soya crop needs more rain, meal exports pause

India's soyabean crop has gained from good monsoon rains in the past week, but traders are going slow on soyameal export deals as the crop needs rainfall for another week to ensure a good harvest, traders said on Wednesday. "Soyabean has entered the poddi
Published 20 Aug, 2009 12:00am
Obama reaches out to Islamic parties in Pakistan

Obama reaches out to Islamic parties in Pakistan

US President Barack Obama has started reaching out to some of the most fervent Islamic and anti-American parties, including one that helped give rise to the Taliban, trying to improve Washington's image in the nuclear-armed state. Obama's special envoy, R
Published 20 Aug, 2009 12:00am
Indonesia's Bulog plans to buy more rice

Indonesia's Bulog plans to buy more rice

State procurement agency Bulog, which is tasked with stabilising the price of rice, Indonesia's most popular staple food, plans to buy more rice in anticipation of El Nino, its chief said on Wednesday. After receiving additional funding of 1 trillion rupi
Published 20 Aug, 2009 12:00am
Rs 17.50 million allocated for uplift work in Faisalabad

Rs 17.50 million allocated for uplift work in Faisalabad

Special funds of Rs 17.50 million have been sanctioned from the Chief Minister Punjab Muhammad Shahbaz Sharif for the uplift work of public parks so that better recreational facilities could be provided to the people of the area.
Published 20 Aug, 2009 12:00am
South African maize deliveries rise

South African maize deliveries rise

South African maize farmers, the biggest producers of the grain on the continent, delivered more maize to silos last week, edging total maize submissions this season closer to the key 10 million tonne mark. Maize futures closed flat on Wednesday as bullis
Published 20 Aug, 2009 12:00am
Saudi Arabia arrests 44 Qaeda suspects

Saudi Arabia arrests 44 Qaeda suspects

Saudi Arabia has arrested 44 al Qaeda suspects, including one foreigner, and discovered arms caches used by the group, the interior ministry said opn Wednesday. "These people have links to the original al Qaeda organisation," interior ministry spokesman G
Published 20 Aug, 2009 12:00am
Ukraine grain crop may exceed government forecast

Ukraine grain crop may exceed government forecast

Ukraine's 2009 grain crop is likely to reach 45 million tonnes, higher than previously expected, based on forecasts of the early grain and maize harvests given by Farm Minister Yuri Melnyk on Wednesday. The crop reached a record 53.3 million tonnes in 200
Published 20 Aug, 2009 12:00am
Saudi Arabia arrests 44 Qaeda suspects

Saudi Arabia arrests 44 Qaeda suspects

Saudi Arabia has arrested 44 al Qaeda suspects, including one foreigner, and discovered arms caches used by the group, the interior ministry said opn Wednesday. "These people have links to the original al Qaeda organisation," interior ministry spokesman G
Published 20 Aug, 2009 12:00am
US Midwest soya bids weaker, corn mixed

US Midwest soya bids weaker, corn mixed

Spot basis bids for soyabeans continued to weaken in the US Midwest on Tuesday after a collapse on Monday, but corn bids were mixed, dealers said. Expectations of bumper US corn and soya crops weigh on market; rains boost Midwest crop prospects.
Published 20 Aug, 2009 12:00am
Afghan government threatens to expel journalists

Afghan government threatens to expel journalists

The Afghan government on Wednesday threatened to expel foreign journalists who violate a ban on reporting Taliban attacks during nation-wide elections and close local media outlets that do the same. The order was issued by the national security council, a
Published 20 Aug, 2009 12:00am
Egypt's GASC seeks wheat for September shipment

Egypt's GASC seeks wheat for September shipment

The Egyptian state's main wheat buying agency said on Tuesday it wanted to buy cargoes of 30,000 to 60,000 tonnes of optional-origin wheat for shipment September 11-20. Tenders should reach Egypt's General Authority for Supply Commodities (GASC) by noon l
Published 20 Aug, 2009 12:00am
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