News Archives for Print - 2009-09-17

The Weather

The weather report on Wednesday (September 16, 2009) and the forecast for Thursday (September 17, 2009).

Published 17 Sep, 2009 12:00am

The Chinese yuan ended up against the dollar on Wednesday after the US dollar index hovered around one-year lows as a broad sell-off gathered steam with investors moving to riskier assets amid growing signs of an economic recovery. The dollar index fell 0

Published 17 Sep, 2009 12:00am

LME official plastics prices

The following were Tuesday official prices.

Published 17 Sep, 2009 12:00am

Canadian dollar rises

Canada's dollar rose to a one-week high against the greenback on Tuesday, powered by a rise in the price of oil as more signs of economic recovery emerged. The currency started to move higher after data showed sales at US retailers in August rose at their

Published 17 Sep, 2009 12:00am

LME official plastics prices

The following were Tuesday official prices.

Published 17 Sep, 2009 12:00am

Asian currencies strengthen

Asian currencies strengthened on Wednesday, with the rupiah, won and baht near one-year highs as better than expected US retail sales and manufacturing data spurred investors into riskier assets. However, traders said the central banks of South Korea and

Published 17 Sep, 2009 12:00am

LME official prices

The following were Tuesday official prices.

Published 17 Sep, 2009 12:00am

Taiwan dollar rises

The Taiwan dollar rose to its highest close in more than three months on Wednesday, boosted by fund inflows as investors bought risky assets, such as Taiwan stocks, after upbeat economics data in the US The Taiwan dollar rose to a three-month intraday hig

Published 17 Sep, 2009 12:00am

Safe passage to Musharraf: PML-N submits motion against Zardari in National Assembly

The Pakistan Muslim League (Nawaz) on Wednesday submitted a privilege motion in the National Assembly against President Asif Ali Zardari's statement on giving safe passage to the former President General Pervez Musharraf (Retd). As many as 91 members of t

Published 17 Sep, 2009 12:00am

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 69.06/69.06 (previous 69.06/69.06). Call Money Rates: 4.50-10.00 percent (previous 4.50-10.00 percent).

Published 17 Sep, 2009 12:00am

Safe passage to Musharraf: PML-N submits motion against Zardari in National Assembly

The Pakistan Muslim League (Nawaz) on Wednesday submitted a privilege motion in the National Assembly against President Asif Ali Zardari's statement on giving safe passage to the former President General Pervez Musharraf (Retd). As many as 91 members of t

Published 17 Sep, 2009 12:00am

Hong Kong dollar remain strong

The Hong Kong dollar held close to the upper end of its trading band against the US dollar on Wednesday, with signs of continuous funds flowing into the territory. "Yesterday's inflow of funds was probably due to the IPOs. I think there will still be spor

Published 17 Sep, 2009 12:00am

'Zardari may complete full four-year term'

Quoting political analysts, a report in world's top financial daily, Financial Times, has said that President Asif Zardari is likely to complete his four-year term in the presidency. "Political commentators in Islamabad now predict that the man viewed as

Published 17 Sep, 2009 12:00am

Dollar falls to near one-year low

The US dollar fell on Tuesday to its lowest level in nearly a year against a basket of currencies as gains in global stock markets reduced the greenback's appeal as a safe haven. Risk appetite improved and the euro climbed to a fresh 2009 high above $1.46

Published 17 Sep, 2009 12:00am

'Zardari may complete full four-year term'

Quoting political analysts, a report in world's top financial daily, Financial Times, has said that President Asif Zardari is likely to complete his four-year term in the presidency. "Political commentators in Islamabad now predict that the man viewed as

Published 17 Sep, 2009 12:00am

Dollar hits one-year low

The dollar struck a one-year low against a basket of currencies on Wednesday, staying vulnerable as investors moved to riskier assets on growing signs of an economic recovery. Market participants increased bets on stocks and commodities, encouraged by bet

Published 17 Sep, 2009 12:00am

Rs 85 billion TFCs issue: government and banks ink formal agreement

A formal agreement between the government of Pakistan and banks was singed here on Wednesday for the issue of Rs 85 billion Term Deposit Certificates (TFCs) to eliminate circular debt, sources said. They said as per the agreement Rs 85 billion financing w

Published 17 Sep, 2009 12:00am

Swiss franc flat

The Swiss franc strengthened against the dollar on Wednesday, hovering close to year highs, but was flat against the euro as traders sat on the fence prior to the SNB's interest rate decision on Thursday. UBS economist Reto Huenerwadel said traders see li

Published 17 Sep, 2009 12:00am

Rs 85 billion TFCs issue: government and banks ink formal agreement

A formal agreement between the government of Pakistan and banks was singed here on Wednesday for the issue of Rs 85 billion Term Deposit Certificates (TFCs) to eliminate circular debt, sources said. They said as per the agreement Rs 85 billion financing w

Published 17 Sep, 2009 12:00am

Singapore shares surge

Singapore shares closed 1.37 percent higher Wednesday, boosted by Wall Street's overnight rally, dealers said. The blue chip Straits Times Index rose 36.02 points to 2,674.42. Volume was 2.71 billion shares worth 1.85 billion Singapore dollars (2.63 billi

Published 17 Sep, 2009 12:00am

Rs 85 billion TFCs issue: government and banks ink formal agreement

A formal agreement between the government of Pakistan and banks was singed here on Wednesday for the issue of Rs 85 billion Term Deposit Certificates (TFCs) to eliminate circular debt, sources said. They said as per the agreement Rs 85 billion financing w

Published 17 Sep, 2009 12:00am

Banks lead Hong Kong shares up; China stocks fall

Hong Kong shares rose 2.57 percent on Wednesday to a near 13-month closing high, powered by banks on growing optimisn about a global economy recovery, ignoring weakness in China stocks as key developer Vanke fell. Bank shares in Hong Kong rose on hopes th

Published 17 Sep, 2009 12:00am

Rs 85 billion TFCs issue: government and banks ink formal agreement

A formal agreement between the government of Pakistan and banks was singed here on Wednesday for the issue of Rs 85 billion Term Deposit Certificates (TFCs) to eliminate circular debt, sources said. They said as per the agreement Rs 85 billion financing w

Published 17 Sep, 2009 12:00am

Seoul shares post highest gain

Seoul shares posted a near-15-month closing high on Wednesday as economic recovery hopes strengthened, with exporters and banks including Samsung Elec and Shinhan Financial fuelling gains. The Korea Composite Stock Price Index (KOSPI) finished up 1.81 per

Published 17 Sep, 2009 12:00am

Millions of rupees NTC embezzlement: Commerce forms team to initiate probe

Commerce Ministry is said to have constituted a three-member committee, under the chairmanship of a Joint Secretary, to probe the of millions of rupees embezzlement by a group of employees in National Tariff Commission (NTC), official sources exclusively

Published 17 Sep, 2009 12:00am

New Zealand shares higher

New Zealand share prices closed 0.58 percent higher Wednesday, benefiting from stronger Asian markets, dealers said. The benchmark NZX-50 index rose 17.96 points to 3,117.59 on turnover worth 112.6 million dollars (79.5 million US). There were 51 rises an

Published 17 Sep, 2009 12:00am

Millions of rupees NTC embezzlement: Commerce forms team to initiate probe

Commerce Ministry is said to have constituted a three-member committee, under the chairmanship of a Joint Secretary, to probe the of millions of rupees embezzlement by a group of employees in National Tariff Commission (NTC), official sources exclusively

Published 17 Sep, 2009 12:00am

Treasuries tumble

US Treasuries prices fell on Tuesday, pushing benchmark yields up from two-month lows, after surprisingly strong August retail sales raised the possibility of a more robust economic recovery than expected. August retail sales jumped 2.7 percent, the sharp

Published 17 Sep, 2009 12:00am

Millions of rupees NTC embezzlement: Commerce forms team to initiate probe

Commerce Ministry is said to have constituted a three-member committee, under the chairmanship of a Joint Secretary, to probe the of millions of rupees embezzlement by a group of employees in National Tariff Commission (NTC), official sources exclusively

Published 17 Sep, 2009 12:00am

Treasuries tumble

US Treasuries prices fell on Tuesday, pushing benchmark yields up from two-month lows, after surprisingly strong August retail sales raised the possibility of a more robust economic recovery than expected. August retail sales jumped 2.7 percent, the sharp

Published 17 Sep, 2009 12:00am

European farmers in milk lake protest

European dairy farmers poured three million litres (800,000 gallons) of milk into a Belgian field on Wednesday in a bid to highlight their desperation over falling prices. The stunt, in southern Wallonia region, came as a campaign group, Via Campesina, sa

Published 17 Sep, 2009 12:00am

US stocks higher

US stocks rose on Tuesday to 2009 highs after stronger manufacturing and retail sales data boosted commodity prices and shares of materials companies. Tuesday's gains lifted the S&P 500 above the 1,050 level for the first time since early October. The imp

Published 17 Sep, 2009 12:00am

Obama sets Afghanistan and Pakistan objectives

The Obama administration has set objectives for countering al Qaeda in Pakistan and Afghanistan, from boosting Islamabad's counterinsurgency capabilities to building up Afghan security forces so US assistance can be reduced, according to an internal docum

Published 17 Sep, 2009 12:00am

Malaysian main index rises

Malaysian shares closed up 0.46 percent Wednesday due to gains in selected blue chips, dealers said. The Kuala Lumpur Composite Index gained 5.51 points to finish at 1,212.98. Dealers attributed the broad-based gains to positive sentiment after better-tha

Published 17 Sep, 2009 12:00am

Obama sets Afghanistan and Pakistan objectives

The Obama administration has set objectives for countering al Qaeda in Pakistan and Afghanistan, from boosting Islamabad's counterinsurgency capabilities to building up Afghan security forces so US assistance can be reduced, according to an internal docum

Published 17 Sep, 2009 12:00am

Taipei index hits 14-month high

Taiwan stocks rose 1.28 percent to their highest close in more than 14 months on Wednesday, as positive retail sales data from the United States boosted buying in technology shares such as Asustek. The main TAIEX share index finished 93.98 points higher a

Published 17 Sep, 2009 12:00am

Bulls strengthen positions on ISE

Bulls strengthened their positions at the Islamabad Stock Exchange (ISE) where equities showed healthy signs under the lead of hot favourite amid increase in the index. ISE Ten Index showed an increase of 46.86 points, as the Index moved from 2,234.15 to

Published 17 Sep, 2009 12:00am

Nikkei average edges up

Japan's Nikkei average rose 0.5 percent as Canon Inc and other exporters powered higher, bolstered by optimism about the US economy after strong retail sales data. Though the benchmark Nikkei climbed as much as 1.7 percent at one point, it ultimately pare

Published 17 Sep, 2009 12:00am

Bulls strengthen positions on ISE

Bulls strengthened their positions at the Islamabad Stock Exchange (ISE) where equities showed healthy signs under the lead of hot favourite amid increase in the index. ISE Ten Index showed an increase of 46.86 points, as the Index moved from 2,234.15 to

Published 17 Sep, 2009 12:00am

Asian bond prices down

Asian bond spreads tightened to their lowest in more than 15 months on Wednesday as upbeat US data lured investors into the region's riskier assets such as newly issued debt from the Philippines' SM Investments Group. The Asia ex-Japan iTraxx investment-g

Published 17 Sep, 2009 12:00am

Gene therapy reverses colour blindness in monkeys

Two monkeys were cured of colour blindness thanks to gene therapy that one day may open the way to treating eye disorders in humans, scientists said on Wednesday. The ground-breaking technique used a cold virus as a "Trojan horse" to infect cone-shaped ce

Published 17 Sep, 2009 12:00am

Indonesian shares up

Indonesian shares ended 0.80 percent higher Wednesday led by gains in commodity and bank stocks, but profit-taking ahead of long end-of-Ramadan holidays limited the market's rise, dealers said. The Jakarta Composite Index gained 19.24 points to 2,439.35.

Published 17 Sep, 2009 12:00am

MD PSO seeks removal of Chairman

The Management of Pakistan State Oil has asked the Prime Minister to remove the present Chairman of the company as he is interfering in "day to day business" and interacting directly with the staff despite being a non-executive functionary. It was also su

Published 17 Sep, 2009 12:00am

Asian bond prices down

Asian bond spreads tightened to their lowest in more than 15 months on Wednesday as upbeat US data lured investors into the region's riskier assets such as newly issued debt from the Philippines' SM Investments Group. The Asia ex-Japan iTraxx investment-g

Published 17 Sep, 2009 12:00am

MD PSO seeks removal of Chairman

The Management of Pakistan State Oil has asked the Prime Minister to remove the present Chairman of the company as he is interfering in "day to day business" and interacting directly with the staff despite being a non-executive functionary. It was also su

Published 17 Sep, 2009 12:00am

Bayer taps Dekkers as new CEO in overhaul

Germany's Bayer has appointed the head of US lab equipment maker Thermo Fisher Scientific as its new chief executive, as part of a management overhaul that may see it focus more on healthcare. CEO-designate Marijn Dekkers, 51, will join Bayer's management

Published 17 Sep, 2009 12:00am

MD PSO seeks removal of Chairman

The Management of Pakistan State Oil has asked the Prime Minister to remove the present Chairman of the company as he is interfering in "day to day business" and interacting directly with the staff despite being a non-executive functionary. It was also su

Published 17 Sep, 2009 12:00am

South Korea seeks foreign investment to bolster recovery

South Korea plans to ease regulations to attract more overseas investment and stimulate weak domestic demand, the Ministry of Strategy and Finance said Wednesday. The economy is recovering from the global downturn thanks largely to government stimulus mea

Published 17 Sep, 2009 12:00am

War reporter Barron dead

Veteran BBC war correspondent Brian Barron, who covered conflicts from Vietnam to Iraq, has died of cancer aged 69, the corporation said Wednesday. Barron, whose unflappable authority on the battlefield made him a household name, was described as "the mos

Published 17 Sep, 2009 12:00am

Dubai World says suing former-CEO of unit for fraud

Dubai World, a Dubai government holding company, filed a lawsuit in the United States this week against the former head of a subsidiary it accuses of fraud costing the United Arab Emirates firm millions of dollars. "This complaint is based on a sinister p

Published 17 Sep, 2009 12:00am

War reporter Barron dead

Veteran BBC war correspondent Brian Barron, who covered conflicts from Vietnam to Iraq, has died of cancer aged 69, the corporation said Wednesday. Barron, whose unflappable authority on the battlefield made him a household name, was described as "the mos

Published 17 Sep, 2009 12:00am

Moody's says South Korea needs to improve for rating upgrade

Moody's Investors Service said on Wednesday that South Korea has recovered much from the global financial crisis but still needed to improve the health of its financial system and fiscal soundness for a rating upgrade. "We still have cautious concern on t

Published 17 Sep, 2009 12:00am

Yemeni airstrike hits camp for displaced

Yemeni warplanes on Wednesday hit a makeshift camp for civilians fleeing fighting between the government and Shia rebels, killing dozens of people, witnesses said. An ambulance driver counted 120 people ferried to the local hospital, among them dozens of

Published 17 Sep, 2009 12:00am

Moody's says South Korea needs to improve for rating upgrade

Moody's Investors Service said on Wednesday that South Korea has recovered much from the global financial crisis but still needed to improve the health of its financial system and fiscal soundness for a rating upgrade. "We still have cautious concern on t

Published 17 Sep, 2009 12:00am

Karzai secures 54.6 percent of Afghan vote

Afghan President Hamid Karzai won 54.6 percent of the preliminary result released Wednesday from controversial elections, but his victory is not secure until massive claims of vote fraud are resolved. The Independent Election Commission (IEC) released fig

Published 17 Sep, 2009 12:00am

BHP predicts booming demand in China, India

The world's biggest miner BHP Billiton on Wednesday said key market China was well on the road to economic recovery and would underpin a boom in resources demand in coming decades. Chief commercial officer Alberto Calderon said China's growth recovery was

Published 17 Sep, 2009 12:00am

Karzai secures 54.6 percent of Afghan vote

Afghan President Hamid Karzai won 54.6 percent of the preliminary result released Wednesday from controversial elections, but his victory is not secure until massive claims of vote fraud are resolved. The Independent Election Commission (IEC) released fig

Published 17 Sep, 2009 12:00am

Jal, Air France hold talks

The leading Japanese carrier, Japan Airlines (JAL), and Dutch-French group Air France-KLM are holding talks, a source close to the matter told AFP on Wednesday. "Talks are being held between Japan Airlines and Air France-KLM," the source said, but gave no

Published 17 Sep, 2009 12:00am

Imported consignments: TCP seeks permission for insurance cover

The Trading Corporation of Pakistan (TCP) has sought permission to get insurance cover from private companies and exemption of all applicable taxes and marketing fee on import of commodities in a bid to reduce handling charges. The demand was placed befor

Published 17 Sep, 2009 12:00am

Ireland bets on bad bank to get out of recession

Ireland will detail how much a make or break plan to revive its banking system will cost later on Wednesday, setting the stage for possible further capital injections in the top two banks. The scheme is designed to kickstart lending and help bring western

Published 17 Sep, 2009 12:00am

Three US service members die in Afghan blast

Three US service members died when their vehicle hit a roadside bomb in southern Afghanistan, a Nato spokesman said Wednesday. Colonel Wayne Shanks, a spokesman for Nato and US forces, said the deaths occurred Tuesday. He did not release any other details

Published 17 Sep, 2009 12:00am

China wants support on IMF voting at G20

China wants the G20 summit next week to throw its support behind an increased role for Beijing and other developing countries in the International Monetary Fund and the World Bank, two officials said on Tuesday. In a briefing to lay out China's positions

Published 17 Sep, 2009 12:00am

Three US service members die in Afghan blast

Three US service members died when their vehicle hit a roadside bomb in southern Afghanistan, a Nato spokesman said Wednesday. Colonel Wayne Shanks, a spokesman for Nato and US forces, said the deaths occurred Tuesday. He did not release any other details

Published 17 Sep, 2009 12:00am

Inditex, Next defy downturn, Zara to go online

Tight management of costs and stocks and better-than-expected summer sales helped two of Europe's top fashion retailers beat first-half profit forecasts, but they remained cautious on any revival in consumer spending. Inditex, owner of the Zara chain and

Published 17 Sep, 2009 12:00am

Yemeni airstrike hits camp for displaced

Yemeni warplanes on Wednesday hit a makeshift camp for civilians fleeing fighting between the government and Shia rebels, killing dozens of people, witnesses said. An ambulance driver counted 120 people ferried to the local hospital, among them dozens of

Published 17 Sep, 2009 12:00am

Investors upbeat on Swiss economy, SNB seen on hold

Investor morale in Switzerland improved sharply in September, a record rise in the country's ZEW investor sentiment indicator showed on Wednesday, adding to recent signs the economy is moving out of recession. Switzerland slipped into its worst recession

Published 17 Sep, 2009 12:00am

It is important to recognise Pakistan's anti-militant progress: Mullen tells Senate committee

Admiral Mike Mullen, Chairman of the Joint Chiefs of Staff, on Tuesday told US lawmakers that "it is important to recognise" the anti-militant success Pakistan has recently achieved, and advocated long-term co-operative relationship with the "key South As

Published 17 Sep, 2009 12:00am

EU raises doubts about ING, Dutch loan deal

The European Commission has extended a review of a 22 billion euro ($32 billion) loan portfolio guarantee between ING and the Dutch state, saying the government may have paid too much. ING and the Dutch state struck a deal in January for the government to

Published 17 Sep, 2009 12:00am

In accordance with earlier order: Supreme Court allows CCP to proceed against JJVL and LPGAP

The Supreme Court on Wednesday allowed the Competition Commission of Pakistan (CCP) to proceed against Jamshoro Joint Venture Limited (JJVL) and LPG Association of Pakistan (LPGAP), according to its earlier verdict, barring the Commission to pass any adve

Published 17 Sep, 2009 12:00am

US gold higher

US gold futures reversed early losses to end moderately higher on Tuesday, turning up when the dollar gave up gains. Gold also got support from a stronger-than-forecast US retail sales reading that implied economic growth and possible inflationary environ

Published 17 Sep, 2009 12:00am

In accordance with earlier order: Supreme Court allows CCP to proceed against JJVL and LPGAP

The Supreme Court on Wednesday allowed the Competition Commission of Pakistan (CCP) to proceed against Jamshoro Joint Venture Limited (JJVL) and LPG Association of Pakistan (LPGAP), according to its earlier verdict, barring the Commission to pass any adve

Published 17 Sep, 2009 12:00am

Oil near $71

Oil shed early losses and hovered near $71 on Wednesday as the dollar's fall to one-year lows and Asian equities' climb to 2009 highs drew investors back to risky assets on brightening signs of a US economic recovery. Investors drew strength from data sho

Published 17 Sep, 2009 12:00am

In accordance with earlier order: Supreme Court allows CCP to proceed against JJVL and LPGAP

The Supreme Court on Wednesday allowed the Competition Commission of Pakistan (CCP) to proceed against Jamshoro Joint Venture Limited (JJVL) and LPG Association of Pakistan (LPGAP), according to its earlier verdict, barring the Commission to pass any adve

Published 17 Sep, 2009 12:00am

US soyabean higher

US soyabean futures closed sharply higher on Tuesday on forecasts for colder weather next week in the US Midwest that could harm the crop, which is immature because it was planted late. CBOT November soya up 51 cents at $9.60 per bushel. January soyabeans

Published 17 Sep, 2009 12:00am

Imported consignments: TCP seeks permission for insurance cover

The Trading Corporation of Pakistan (TCP) has sought permission to get insurance cover from private companies and exemption of all applicable taxes and marketing fee on import of commodities in a bid to reduce handling charges. The demand was placed befor

Published 17 Sep, 2009 12:00am

Malaysian crude palm oil futures jump

Malaysian crude palm oil futures jumped 4.4 percent on Wednesday, their biggest one-day rise in more than six weeks, as investors covered short positions ahead of a long holiday weekend, traders said. The short-covering has emerged since Tuesday on specul

Published 17 Sep, 2009 12:00am

Imported consignments: TCP seeks permission for insurance cover

The Trading Corporation of Pakistan (TCP) has sought permission to get insurance cover from private companies and exemption of all applicable taxes and marketing fee on import of commodities in a bid to reduce handling charges. The demand was placed befor

Published 17 Sep, 2009 12:00am

New York sugar down

Raw sugar futures settled down more than 1 percent on Tuesday after a lack of buying incentives sparked profit taking on the previous session's rally. The key October raw sugar contract closed down 0.28 cent, or by 1.3 percent, to finish at 21.78 cents pe

Published 17 Sep, 2009 12:00am

Nepra slashes consumer tariff of six Discos

The National Electric Power Regulatory Authority (Nepra) has slashed consumer tariff of six power distribution companies (Discos) from nine paisa to Rs 2.39 per unit across the board with the exception of lifeline consumers, those who use up to 50 units p

Published 17 Sep, 2009 12:00am

Tokyo rubber futures rise

Key Tokyo rubber futures rose nearly 3 percent to top 200 yen on Wednesday with investors continuing to hunt for bargains as sentiment improved on a recovery in oil prices and growing optimism about the global economy. The key Tokyo Commodity Exchange rub

Published 17 Sep, 2009 12:00am

Nepra slashes consumer tariff of six Discos

The National Electric Power Regulatory Authority (Nepra) has slashed consumer tariff of six power distribution companies (Discos) from nine paisa to Rs 2.39 per unit across the board with the exception of lifeline consumers, those who use up to 50 units p

Published 17 Sep, 2009 12:00am

US rice futures rally

US rice futures on the Chicago Board of Trade closed higher on Tuesday, following as corn and other grain markets soared on the threat of a frost in the US Midwest late next week, traders said. CBOT November rice ended up 15 cents at $13.31-1/2 per cwt. S

Published 17 Sep, 2009 12:00am

Eid holidays

The Federal Government has announced Eid holidays from September 21 to September 23, 2009. In this regard, a notification has been issued. This would mean that the public servants would enjoy four days' vacations on Eid-ul-Fitr, starting from Sunday to We

Published 17 Sep, 2009 12:00am

US copper settles up

US copper futures ended up near their session highs Tuesday, buoyed by a negative reversal in the dollar and positive economic data that reinforced optimistic views about the recovery. Copper for December delivery closed up 4.05 cents at $2.8450 a lb on t

Published 17 Sep, 2009 12:00am

Eid holidays

The Federal Government has announced Eid holidays from September 21 to September 23, 2009. In this regard, a notification has been issued. This would mean that the public servants would enjoy four days' vacations on Eid-ul-Fitr, starting from Sunday to We

Published 17 Sep, 2009 12:00am

Malaysian tin up

Malaysian tin rose 1.4 percent on Wednesday due to surging demand even as London Metal Exchange was flat, said one dealer.

Published 17 Sep, 2009 12:00am

Obama makes no changes in US drug blacklist of states

US President Barack Obama has made no changes to the annual US list of major illicit drug producers and transit countries. The US president is required to make the designation to Congress annually. They were released by the State Department late Tuesday.

Published 17 Sep, 2009 12:00am

Sri Lanka tea output may fall

Sri Lanka tea production is likely to fall by around 50 percent in September year-on-year, due to a nation-wide plantation labour strike, the island nation's tea board said on Wednesday. Workers in 22 regional plantation companies, which account for 40 pe

Published 17 Sep, 2009 12:00am

Obama makes no changes in US drug blacklist of states

US President Barack Obama has made no changes to the annual US list of major illicit drug producers and transit countries. The US president is required to make the designation to Congress annually. They were released by the State Department late Tuesday.

Published 17 Sep, 2009 12:00am

FOB Gulf soya export premiums steady

US soyabean export premiums were steady with a firm tone on Tuesday, underpinned by good demand and tight loading capacity through the end of the year, traders said. Export elevators sold out of soyabeans through at least October so nearby offers were sca

Published 17 Sep, 2009 12:00am

Army-constructed Timergara Bridge now open for traffic: ISPR

The engineers of Pakistan Army have constructed the Timergara bridge in record 12 hours, and opened it for traffic, said an ISPR press release here on Wednesday. According to details, this historic bridge that connects highway of Lower Dir and Upper Dir d

Published 17 Sep, 2009 12:00am

Prices move both ways on grain market

Modest trading was seen on the wholesale grain and seed market on Wednesday as some buyers were busy in covering the short position ahead of Eid-ul-Fitr holidays, dealers said. On the cereal side sugar gained Rs 50 to Rs 4800-4900 and gur superior type ro

Published 17 Sep, 2009 12:00am

Army-constructed Timergara Bridge now open for traffic: ISPR

The engineers of Pakistan Army have constructed the Timergara bridge in record 12 hours, and opened it for traffic, said an ISPR press release here on Wednesday. According to details, this historic bridge that connects highway of Lower Dir and Upper Dir d

Published 17 Sep, 2009 12:00am

Firm trend prevails in prices, volume on cotton market

Steady trend was seen on the cotton market on Wednesday as mills were busy in pre-Eid buying, they said. Over 12,000 bales changed hands between Rs 3450-3575, they said. Phutti prices in Sindh were same at Rs 1680-1700 and in Punjab the rates were at Rs 1

Published 17 Sep, 2009 12:00am

SECP issues show cause notices to six Modaraba companies

The Securities and Exchange Commission of Pakistan (SECP) has issued show cause notices to six Modaraba management companies, chief executives and their directors to explain their position against the violations of Modaraba Ordinance, 1980 and Modaraba Ru

Published 17 Sep, 2009 12:00am

EU wheat mixed

Western European wheat prices were mixed on Tuesday as a sharp rebound in Chicago pushed futures higher while heavy supplies and lacklustre demand kept cash markets weak. The Chicago Board of Trade saw a surge in early US trade, fuelled by short-covering

Published 17 Sep, 2009 12:00am

SECP issues show cause notices to six Modaraba companies

The Securities and Exchange Commission of Pakistan (SECP) has issued show cause notices to six Modaraba management companies, chief executives and their directors to explain their position against the violations of Modaraba Ordinance, 1980 and Modaraba Ru

Published 17 Sep, 2009 12:00am

Oil cake market rates

Stable trend was seen on the forward cottonseed oilcake market on Wednesday amid little activity, dealers said. The December vaida closed at 901.40 on Tuesday and commenced at the same rate and the January contract closed on previous day at Rs 943.70 and

Published 17 Sep, 2009 12:00am

Saudi Arabia to give $300 million in a couple of days

Saudi Arabia has finalised arrangements to disburse $300 million, within a couple of days, out of total $700 million pledged during the Tokyo donor conference, Business Recorder has learnt. Out of the $300 million, $200 million has been earmarked f

Published 17 Sep, 2009 12:00am

Thailand sells 200,000 tonnes of white sugar to India

Sales of Thai white sugar to India, the world's largest sugar consumer, are expected to reach 200,000 tonnes before the New Year, with around 75,000 tonnes already traded so far, dealers said on Wednesday. India has allowed mills to import duty-free raw s

Published 17 Sep, 2009 12:00am

Currency	Rate
USD PKR Interbank Selling / Sep 20	277.90
USD PKR Interbank Buying / Sep 20	277.70
USD to Japanese Yen / Sep 20	142.19
USD to Swiss Franc / Sep 20	0.85
Pound Sterling to USD / Sep 20	1.33
Euro to USD / Sep 20	1.12

Stock	Volume
S&P 500 / Sep 19	5,713.64
Nasdaq / Sep 19	18,013.98
FTSE 100 / Sep 19	8,328.72
Dow Jones / Sep 19	42,025.19
Germany DAX 30 / Sep 19	19,002.38
France CAC40 / Sep 19	7,615.41
India Sensex / Sep 20	83,711.40
Tokyo Nikkei / Sep 20	37,879.54

Item	Value
Gold 10 Grams PKR / Sep 19	230,195
Crude Oil USD/Barrel / Sep 20	71.80
Karachi Cotton PKR/37.32 KG / Sep 20	18,935
Gold Spot USD/Ounce / Sep 20	2,599.47
Cotton US¢/pound / Sep 20	73.42
Petrol/Litre / Sep 21	249.10

Stock	Price
786 Invest Ltd / Sep 21 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Sep 21 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Sep 21 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Sep 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Sep 21 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Sep 21 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Sep 21 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Sep 21 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Sep 21 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Sep 21 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Sep 21 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Sep 21 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Sep 21 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Sep 21 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Sep 21 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Sep 21 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Sep 21 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Sep 21 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Sep 21 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Sep 21 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Sep 21 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Sep 21 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Sep 21 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Sep 21 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Sep 21 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Sep 21 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Sep 21 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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