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Sep 20, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2009-09-25
Promotion of IT need of the hour: Shahbaz

Promotion of IT need of the hour: Shahbaz

Punjab Chief Minister, Shahbaz Sharif has said that promotion of Information Technology (IT) is the need of the hour and government is implementing a comprehensive strategy in this regard. He said that an IT Park equipped with the latest facilities would
Published 25 Sep, 2009 12:00am
HP expands networking portfolio

HP expands networking portfolio

HP has expanded its networking portfolio with new HP ProCurve offerings integrated with HP BladeSystem infrastructure solutions that enable customers to increase performance, security and management of both physical and virtual environments. The new offer
Published 25 Sep, 2009 12:00am
Textile sector eyeing positive outcomes of Zardari's visit to US

Textile sector eyeing positive outcomes of Zardari's visit to US

Pakistan textile sector is eyeing hopefully towards the outcome of present visit of President Asif Ali Zardari to the US, as there are strong chances that the US government would take concrete measures on the market access to Pakistan. It may be noted tha
Published 25 Sep, 2009 12:00am
Provinces have no differences over NFC, says minister

Provinces have no differences over NFC, says minister

Punjab Finance Minister, Tanvir Ashraf Kaira, has said that provinces have no differences over new National Finance Commission Award (NFC) and all provinces are going in a right direction regarding distribution of fiscal resources. While talking to a grou
Published 25 Sep, 2009 12:00am
PML-Q warned of public wrath for its anti-people policies

PML-Q warned of public wrath for its anti-people policies

Pakistan Muslim League (Nawaz) Secretary General, International Affairs, Sheikh Kaiser Mehmood, has said that the countrymen rejected the Pakistan Muslim League-Q and its leadership in the last general elections due to its anti-people and anti-democracy p
Published 25 Sep, 2009 12:00am
Eid celebration get together held at Al-Shifa Trust

Eid celebration get together held at Al-Shifa Trust

Eid celebration get together was organised for special children of Al-Shifa Trust School and Centre for Rehabilitation. Managing Director PIA, Captain Mohammad Aijaz Haroon along with his wife and children attended the Eid day at the school, with the stud
Published 25 Sep, 2009 12:00am
Kaira visits PTV Lahore Centre

Kaira visits PTV Lahore Centre

Federal Minister for Information and recently appointed Acting Governor Gilgit-Baltistan Qamar-uz-Zaman Kaira spent very busy day at Pakistan Television Centre Lahore. According to the sources, the federal minister had reached to the provincial metropolis
Published 25 Sep, 2009 12:00am
Motorway Police hold Eid Milan party

Motorway Police hold Eid Milan party

The officers of National Highways & Motorway Police and NHA warmly felicitated Eid in the festive and glorious Eid Milan party held at N-5 Central Zonal Office Lahore. The party was hosted by NH&MP N-5 Central while DIG Syed Ibne Hussain was the Chief Gue
Published 25 Sep, 2009 12:00am
To bring untapped sectors in tax net: FBR to increase Tax-GDP ratio

To bring untapped sectors in tax net: FBR to increase Tax-GDP ratio

The Federal Board of Revenue (FBR) is taking all possible measures to increase Tax-GDP ratio by bringing into tax net the untapped sectors of the economy. The Director General Income Tax Khawaja Shaukat Ali stated this while speaking at inauguration of FB
Published 25 Sep, 2009 12:00am
Dates for England-Bangladesh and Australia-Pakistan matches announced

Dates for England-Bangladesh and Australia-Pakistan matches announced

The England and Wales Cricket Board on Thursday announced the dates for England's 2010 home matches against Bangladesh, Australia and Pakistan, and the Australia-Pakistan matches to be staged in England. England, who are due to play two Tests and three On
Published 25 Sep, 2009 12:00am
Younus fit to face India

Younus fit to face India

Pakistan captain Younus Khan will be available for their Champions Trophy match against India despite a finger injury, the Pakistani board said on Thursday. Younus missed his country's opening victory over the West Indies in midweek after suffering the in
Published 25 Sep, 2009 12:00am
'Old School' Football Association told to reform or face funding cut

'Old School' Football Association told to reform or face funding cut

The Football Association, the governing body of English football, was Thursday warned to urgently implement reforms recommended four years ago or risk losing government funding. The threat came in a letter from Sports Minister Gerry Sutcliffe which demand
Published 25 Sep, 2009 12:00am
FIH selects PHF for 'World Hockey Youth Challenge'

FIH selects PHF for 'World Hockey Youth Challenge'

International Hockey Federation (FIH) has selected Pakistan Hockey Federation (PHF) as one of the prizewinners of the World Hockey Youth Challenge 2009. The other four selected countries are Malawi, Belgium, Afghanistan and Bangladesh. A spokesman of PHF
Published 25 Sep, 2009 12:00am
Revised India-Australia ODIs schedule

Revised India-Australia ODIs schedule

India on Thursday changed the venue of the opening match from Jaipur to Vadodara in the seven-match one-day series against Australia starting next month. The rest of the schedule remains unchanged.
Published 25 Sep, 2009 12:00am
Knee injury rules out Australia star Bracken

Knee injury rules out Australia star Bracken

A knee injury has ruled star Australia bowler Nathan Bracken out of the 2009 ICC Champions Trophy in South Africa, a team spokesman said Thursday. Australia launch their defence of the second most important international one-day tournament after the World
Published 25 Sep, 2009 12:00am
England face Mendis riddle in opening match

England face Mendis riddle in opening match

Andrew Strauss's England face a stiff spin test when they take on a confident Sri Lanka in their opening match of the Champions Trophy here on Friday. Sri Lanka have two excellent spinners in Muttiah Muralitharan and Ajantha Mendis, capable of making life
Published 25 Sep, 2009 12:00am
Clijsters to play all Grand Slams in 2010

Clijsters to play all Grand Slams in 2010

US Open champion Kim Clijsters said Thursday she will play the four Grand Slams in 2010, as well as the Fed Cup and half a dozen more tournaments. "I'm not going to base my programme on the world rankings because I want to concentrate on the Grand Slam to
Published 25 Sep, 2009 12:00am
Europe to the fore as Vivendi Trophy begins

Europe to the fore as Vivendi Trophy begins

Expectations of a first Continental European victory in nine years were high as the 2009 Vivendi Trophy began beneath grey skies here on Thursday. Great Britain and Ireland have won the last four editions of the biennial team event, formerly known as the
Published 25 Sep, 2009 12:00am
Kaka nets first goal as Real keep pace with Barcelona

Kaka nets first goal as Real keep pace with Barcelona

Real Madrid kept pace with champions Barcelona at the top of the Spanish First Division defeating 10-man Villarreal 2-0 at El Madrigal on Wednesday with Cristiano Ronaldo continuing his goal-a-game record while Brazilian Kaka scored his first Real goal fr
Published 25 Sep, 2009 12:00am
Wolfsburg, Leverkusen, Hamburg crash out of German cup

Wolfsburg, Leverkusen, Hamburg crash out of German cup

There were three big upsets in the German Cup's second round on Wednesday as defending Bundesliga champions Wolfsburg, current league leaders Hamburg and Bayer Leverkusen were all dumped out. Having beaten Stuttgart on Saturday to lift themselves off the
Published 25 Sep, 2009 12:00am
Rupiah rises in catch-up, Singapore dollar rangebound

Rupiah rises in catch-up, Singapore dollar rangebound

The Indonesian rupiah firmed on Thursday, catching up with regional peers after a holiday, while the Singapore dollar was stuck in a tight range amid caution over possible official intervention. Most Asian currencies eased as the dollar rebounded against
Published 25 Sep, 2009 12:00am
Hong Kong dollar little changed

Hong Kong dollar little changed

The Hong Kong dollar was trapped in a narrow range against the US dollar on Thursday, but sentiment was dampened by a plunge in the domestic stock market. Some dealers expected the spot rate to keep in a tight range of 7.7500-7.7510 amid a volatile stock
Published 25 Sep, 2009 12:00am
Australian dollar recoups losses

Australian dollar recoups losses

The Australian dollar got back on its feet on Thursday as investors took to heart that US interest rates will stay very low for a long time and resumed selling the US currency. The Aussie resumed its recent climb to reach $0.8738, from an intra-day low of
Published 25 Sep, 2009 12:00am
Swiss franc regains ground

Swiss franc regains ground

The Swiss franc pushed up against the dollar in early Thursday trading after the greenback bounced off lows Wednesday, bolstered by a spike in risk aversion which sparked a late US equities market sell off. The franc was up 0.2 percent against the dollar
Published 25 Sep, 2009 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 69.06/69.06 (previous 69.06/69.06). Call Money Rates: 5.50-11.50 percent (previous 5.00-11.50 percent).
Published 25 Sep, 2009 12:00am
Yuan falls

Yuan falls

The yuan ended down on Thursday as the Chinese central bank reined in the yuan after a slight rebound in the dollar, sending another strong signal to the market that China would keep the yuan stable in the short term. The People's Bank of China's set its
Published 25 Sep, 2009 12:00am
Dollar rebounds from one-year low

Dollar rebounds from one-year low

The dollar rebounded from a one-year low against the euro on Wednesday as US stocks reversed gains sparked by an optimistic statement from the Federal Reserve on the economic outlook. The dollar had earlier sold off after the Fed said US economic activity
Published 25 Sep, 2009 12:00am
Dollar soft after bounce

Dollar soft after bounce

The dollar softened against higher-yielding currencies on Thursday as investors shifted their funds away from the greenback on expectations the Federal Reserve will keep interest rate very low for a long time. The dollar also edged down against the low-yi
Published 25 Sep, 2009 12:00am
Nikkei hits one-month closing high

Nikkei hits one-month closing high

Japan's Nikkei average rose 1.7 percent to a one-month closing high on Thursday, lifted by exporters such as Kyocera Corp as investors played catch-up after returning from a string of public holidays. Fast Retailing Co jumped after Goldman Sachs raised it
Published 25 Sep, 2009 12:00am
Bonds perk up

Bonds perk up

US Treasury debt prices recovered smartly on Wednesday after the Federal Reserve reiterated its commitment to keep interest rates low for an "extended" period, showing no inclination to remove stimulus. That vow quashed speculation that the central bank c
Published 25 Sep, 2009 12:00am
Bonds perk up

Bonds perk up

US Treasury debt prices recovered smartly on Wednesday after the Federal Reserve reiterated its commitment to keep interest rates low for an "extended" period, showing no inclination to remove stimulus. That vow quashed speculation that the central bank c
Published 25 Sep, 2009 12:00am
Thai share prices drop

Thai share prices drop

The Thai stock market shed 0.27 percent on Thursday after late buying in banking stocks offset earlier profit-taking, analyst said. The Stock Exchange of Thailand (SET) composite index was off 1.98 points to close at 728.54 while the blue chip SET-50 inde
Published 25 Sep, 2009 12:00am
Malaysian shares close flat

Malaysian shares close flat

Malaysian shares were flat on Thursday amid weak sentiment and cautious trade, dealers said. The Kuala Lumpur Composite Index lost 1.01 points to 1,218.06 on volume of 751.1 million shares worth 1.13 billion ringgit (325.13 million dollars). There were 28
Published 25 Sep, 2009 12:00am
Chinese shares slightly up

Chinese shares slightly up

Chinese shares closed up 0.38 percent on Thursday, reversing early losses as bargain hunters picked up bank and real estate stocks in the afternoon session, dealers said. The Shanghai Composite Index, which covers both A and B shares, was up 10.83 points
Published 25 Sep, 2009 12:00am
Seoul shares down

Seoul shares down

Seoul shares declined on Thursday, weighed down by foreign selling following US Fed comments on mortgage debt purchases, but Doosan Engineering rose on news of a share cancellation plan. The Korea Composite Stock Price Index (KOSPI) ended down 1.03 percen
Published 25 Sep, 2009 12:00am
Jakarta shares rise

Jakarta shares rise

Indonesian shares ended 0.48 percent higher on Thursday in the first trading session of the week after a long holiday, playing catch up with earlier gains in overseas markets, dealers said. The Jakarta Composite Index gained 11.91 points to 2,468.9.
Published 25 Sep, 2009 12:00am
Wall Street drops

Wall Street drops

US stocks fell on Wednesday as investors worried the Federal Reserve is closer to pulling back on extraordinary measures to inject funding to shore up the economy. The Fed's policy-setters met and kept interest rates unchanged, as expected, but they also
Published 25 Sep, 2009 12:00am
Hong Kong shares close 2.52 percent lower

Hong Kong shares close 2.52 percent lower

Hong Kong share prices closed 2.52 percent lower on Thursday, following a fall on Wall Street and on liquidity fears in China, dealers said. The benchmark Hang Seng Index finished down 544.79 points at 21,050.73. Turnover was 78.69 billion Hong Kong dolla
Published 25 Sep, 2009 12:00am
Singapore shares decline

Singapore shares decline

Singapore shares closed 0.69 percent lower on Thursday after a decline in US stocks set the stage for a retreat in most Asian bourses, dealers said. The blue chip Straits Times Index fell 18.51 points to 2,667.43 on volume of 2.61 billion shares worth 1.9
Published 25 Sep, 2009 12:00am
Taiwan stocks tumble

Taiwan stocks tumble

Taiwan stocks fell 0.71 percent on Thursday to their lowest close in more than a week, with technology heavyweight TSMC leading losses as an overnight fall on Wall Street triggered a bout of profit-taking. The main TAIEX share index fell for the fourth st
Published 25 Sep, 2009 12:00am
Oman Air 787 order hinges on maiden flight

Oman Air 787 order hinges on maiden flight

Oman Air will decide whether to cancel an order worth up to $1.2 billion for six Boeing 787 Dreamliners after the plane's maiden flight, but the US planemaker has won few friends over its handling of delays, the carrier's chief executive said. Industry ve
Published 25 Sep, 2009 12:00am
India's headline inflation exceeds forecasts

India's headline inflation exceeds forecasts

Indian inflation was higher than expected in mid-September and is set to rise further as drought drives up food costs and demand recovers, adding to the challenge for policy makers as they try to nurture growth. While supply shortages pushed up food price
Published 25 Sep, 2009 12:00am
Brazil's jobless rate unexpectedly firms in August

Brazil's jobless rate unexpectedly firms in August

Unemployment in Brazil unexpectedly edged higher in August from July as signs of a recovery in Latin America's largest economy prompted more people to look for work. The jobless rate rose to 8.1 percent in August from 8 percent in July, statistics agency
Published 25 Sep, 2009 12:00am
Ukraine's Naftogaz offers new Eurobond deal

Ukraine's Naftogaz offers new Eurobond deal

Ukraine's troubled state energy giant Naftogaz, saying it faced "significant challenges", made a new five-year offer on Thursday to holders of a Eurobond to avoid a $500 million pay-out on September 30. The firm, which is often at the centre of rows betwe
Published 25 Sep, 2009 12:00am
Ukraine's Naftogaz offers new Eurobond deal

Ukraine's Naftogaz offers new Eurobond deal

Ukraine's troubled state energy giant Naftogaz, saying it faced "significant challenges", made a new five-year offer on Thursday to holders of a Eurobond to avoid a $500 million pay-out on September 30. The firm, which is often at the centre of rows betwe
Published 25 Sep, 2009 12:00am
Dutch recession worse than thought, more pain seen

Dutch recession worse than thought, more pain seen

A downward revision in second-quarter growth, a deeper decline in business confidence and a further dip in consumer spending all pointed on Thursday to more pain in months to come for the struggling Dutch economy. Even though the government recently impro
Published 25 Sep, 2009 12:00am
Russian bank seeks bankruptcy of UC Rusal units

Russian bank seeks bankruptcy of UC Rusal units

Russia's largest private bank Thursday filed bankruptcy suits against two key units of UC Rusal, stepping up the pressure on the aluminium giant's embattled billionaire owner Oleg Deripaska. The suits from Alfa Bank were a fresh blow to Deripaska, who ama
Published 25 Sep, 2009 12:00am
Swiss eyes tax haven list exit as G20 starts

Swiss eyes tax haven list exit as G20 starts

Switzerland is rushing to sign an additional tax information deal to secure its removal from a tax haven list later on Thursday, when a meeting of the Group of 20 nations starts. A Swiss diplomatic source said the government planned to sign a 12th double-
Published 25 Sep, 2009 12:00am
Dollar's role could be reduced: Gyohten

Dollar's role could be reduced: Gyohten

The role of the dollar in Asia could be diminished if the region pursues closer economic integration, said a former top Japanese currency official who is expected to advise the new finance minister. Asian countries aren't likely to try to exclude the doll
Published 25 Sep, 2009 12:00am
Chinese feel worse on prices, better over jobs: PBOC

Chinese feel worse on prices, better over jobs: PBOC

Urban Chinese were increasingly unhappy with price levels in the third quarter, including the cost of housing, but were more optimistic about job prospects, according to a central bank survey released on Thursday. Businesses reported that both domestic an
Published 25 Sep, 2009 12:00am
Genel chief executive eyes FTSE berth but probes threaten

Genel chief executive eyes FTSE berth but probes threaten

The little-known boss of Turkey's Genel Energji may soon find himself running one of Britain's largest listed companies but with regulatory probes involving Genel in Norway and the UK, challenges remain. In June, privately-held Genel agreed to a merge its
Published 25 Sep, 2009 12:00am
Genel chief executive eyes FTSE berth but probes threaten

Genel chief executive eyes FTSE berth but probes threaten

The little-known boss of Turkey's Genel Energji may soon find himself running one of Britain's largest listed companies but with regulatory probes involving Genel in Norway and the UK, challenges remain. In June, privately-held Genel agreed to a merge its
Published 25 Sep, 2009 12:00am
Crisis forces 17,000 expatriates out of Kuwait

Crisis forces 17,000 expatriates out of Kuwait

About 17,000 expatriate workers have cancelled their residence permits and left Kuwait in the first half of 2009 due to the impact of the global economic crisis, a Kuwaiti daily said on Thursday. Quoting informed sources in the ministry of social affairs
Published 25 Sep, 2009 12:00am
Taiwan holds rates at record low

Taiwan holds rates at record low

Taiwan's central bank kept interest rates at a record low of 1.25 percent as expected on Thursday, and signalled it could be one of the last in the region to start raising rates despite emerging signs of economic improvement. It said the pace of economic
Published 25 Sep, 2009 12:00am
Weak rise in German business mood hits recovery hopes

Weak rise in German business mood hits recovery hopes

German business sentiment rose to its highest level in a year in September but fell short of expectations for a bigger rise, raising doubts about the momentum behind the recovery of Europe's largest economy. The Munich-based Ifo think tank said on Thursda
Published 25 Sep, 2009 12:00am
Economy has turned a corner: BoE economist

Economy has turned a corner: BoE economist

Britain's economy has turned a corner thanks to unprecedented stimulus measures, weaker sterling and the end of the destocking cycle, but the recovery will be slow, Bank of England chief economist Spencer Dale said. In a speech to business leaders on Thur
Published 25 Sep, 2009 12:00am
AIDS vaccine 'important step' against disease

AIDS vaccine 'important step' against disease

An experimental AIDS vaccine made from two older versions has made major progress in finding an effective way to combat the illness, researchers said on Thursday. But its application may be limited and a commercial vaccine may require more time. The healt
Published 25 Sep, 2009 12:00am
Julius Baer out of race for ING Asian unit

Julius Baer out of race for ING Asian unit

Julius Baer has dropped out of the race to buy ING's private banking assets in Asia, leaving HSBC as the favourite, sources with knowledge of the deal told Reuters. Despite holding most bids since September 3, Dutch bancassurer ING has not yet identified
Published 25 Sep, 2009 12:00am
Russian carmaker AvtoVAZ to slash workforce

Russian carmaker AvtoVAZ to slash workforce

AvtoVAZ, Russia's largest carmaker, said it would cut over a quarter of its workforce to cope with plunging demand in a market that had been expected to become Europe's biggest before the financial crisis. AvtoVAZ, part-owned by French car maker Renault,
Published 25 Sep, 2009 12:00am
US home sales, jobless claims unexpectedly drop

US home sales, jobless claims unexpectedly drop

The number of US workers filing new claims for jobless benefits fell last week, but a surprise drop in sales of existing homes in August suggested the economy's recovery from a severe recession would be slow. A report from the Labour Department on Thursda
Published 25 Sep, 2009 12:00am
Japan's export recovery slows

Japan's export recovery slows

Japan's export recovery slowed in August, pointing to slower growth in production and fuelling concern that the economy may lose momentum as the impact of stimulus spending around the world fades. The Bank of Japan last week upgraded its view on the econo
Published 25 Sep, 2009 12:00am
Financial system still fragile: US Treasury

Financial system still fragile: US Treasury

The US financial system remains fragile a year after a bank bailout program was initiated and the government needs to be ready to step in to help more if necessary, a senior US Treasury department official said on Thursday. "The recovery has just begun, t
Published 25 Sep, 2009 12:00am
Italy's trade surplus hits 11-year high

Italy's trade surplus hits 11-year high

Italy posted its highest monthly trade surplus in 11 years in July due to a slump in imports, but economists said the eurozone's number 3 economy would need to boost exports quickly to benefit from a global recovery. Statistics agency ISTAT said on Thursd
Published 25 Sep, 2009 12:00am
Malaysian palm oil lower

Malaysian palm oil lower

Malaysian crude palm oil futures ended off nine-day lows on Thursday although prospects of improved global vegetable oil supplies overshadowed a slight improvement in exports. The benchmark December contract on the Bursa Malaysia Derivative Exchange lost
Published 25 Sep, 2009 12:00am
Gold bounces back to around $1,010

Gold bounces back to around $1,010

Spot gold rallied to trade around $1,010 on Thursday as the precious metal continued to look to the dollar for direction, though a sense of caution prevailed due to the threat of heavy liquidation of futures positions. Spot gold, which fell in the previou
Published 25 Sep, 2009 12:00am
US gold lower

US gold lower

US gold futures ended slightly lower on Wednesday on a dollar bounce and weaker oil, but bullion investors largely stayed on the sidelines ahead of closely watched policy-setting announcements by the Federal Reserve. December gold settled down $1.10 at $1
Published 25 Sep, 2009 12:00am
Oil extends decline

Oil extends decline

Oil prices extended losses and fell closer toward $68 a barrel on Thursday, as data showing an unexpectedly high build up in US oil and products stockpiles reminded traders that oil prices may have run ahead of the demand fundamentals. Crude oil prices fe
Published 25 Sep, 2009 12:00am
Malaysian tin down

Malaysian tin down

Malaysian tin fell a steep 3 percent on Thursday after reaching 5-week highs in the previous session, mirroring losses on the London Metal Exchange (LME) and limited demand, one dealer said.
Published 25 Sep, 2009 12:00am
US soybeans dip

US soybeans dip

US soybean futures on the Chicago Board of Trade ended lower on Wednesday after a topsy-turvy session, pressured by prospects for a record large American harvest, traders said. Waning worries about a crop-killing frost before October 1 weighed on prices.
Published 25 Sep, 2009 12:00am
The Weather

The Weather

The weather report on Thursday (September 24, 2009) and the forecast for Friday (September 25, 2009).

Published 25 Sep, 2009 12:00am
US copper down

US copper down

US copper ended down 2 percent on Wednesday as worries about eroding Chinese demand for the metal made investors look beyond the dollar, whose weakness had helped the market rally most of this month. Copper for December delivery settled down 5.65 cents, o
Published 25 Sep, 2009 12:00am
US drone attack kills 10

US drone attack kills 10

A US drone attacked an office operated by an Afghan radical on Thursday, killing 10 suspected militants in tribal belt near the border with Afghanistan, officials said. "Ten dead bodies were recovered from the debris of the house and two militants were wo
Published 25 Sep, 2009 12:00am
Shanghai copper falls

Shanghai copper falls

Copper prices pared losses in London and Shanghai on Thursday but markets may break higher if the dollar picks up downside momentum and the economic numbers continue to improve. The dollar resumed its weaker tone versus the euro after a modest blip higher
Published 25 Sep, 2009 12:00am
US drone attack kills 10

US drone attack kills 10

A US drone attacked an office operated by an Afghan radical on Thursday, killing 10 suspected militants in tribal belt near the border with Afghanistan, officials said. "Ten dead bodies were recovered from the debris of the house and two militants were wo
Published 25 Sep, 2009 12:00am
New York sugar softer

New York sugar softer

Raw sugar futures closed easier on Wednesday on investor sales but the ability of the market to hold an area of support sparked trade buying which pared losses in the sweetener, analysts said. The March raw sugar contract ended down 0.53 cent at 23.08 cen
Published 25 Sep, 2009 12:00am
G20 leaders talk tough ahead of summit

G20 leaders talk tough ahead of summit

Leaders of the world's top economic powers promised tough action to police financial markets and prevent a new economic crash Thursday as they gathered for the G20 summit. The US city of Pittsburgh mounted a massive security operation as it prepared to we
Published 25 Sep, 2009 12:00am
Tokyo rubber sinks

Tokyo rubber sinks

Tokyo rubber futures fell as much as 4 percent on Thursday, slipping below 200 yen as a decline in crude oil prices during a long market holiday in Tokyo spurred selling. The Tokyo Commodity Exchange was closed from Monday to Wednesday due to a series of
Published 25 Sep, 2009 12:00am
G20 leaders talk tough ahead of summit

G20 leaders talk tough ahead of summit

Leaders of the world's top economic powers promised tough action to police financial markets and prevent a new economic crash Thursday as they gathered for the G20 summit. The US city of Pittsburgh mounted a massive security operation as it prepared to we
Published 25 Sep, 2009 12:00am
US rice declines

US rice declines

US rice futures on the Chicago Board of Trade closed lower on Wednesday on expectations for a pick-up in the harvest pace in Arkansas next week, traders said. CBOT November settled 5 cents lower $13.20 per hundredweight; January down 4-1/2 cents at $13.44
Published 25 Sep, 2009 12:00am
G20 leaders talk tough ahead of summit

G20 leaders talk tough ahead of summit

Leaders of the world''s top economic powers promised tough action to police financial markets and prevent a new economic crash Thursday as they gathered for the G20 summit. The US city of Pittsburgh mounted a massive security operation as it prepared to w
Published 25 Sep, 2009 12:00am
Cotton business picking up after Eid holidays

Cotton business picking up after Eid holidays

With extended Eid-ul-Fitr holidays behind us and approaching weekend ahead of us, both domestic mills as well as the exporters are showing increasing interest in purchasing cotton. Therefore, despite the earlier impression that we would witness a holiday
Published 25 Sep, 2009 12:00am
Cotton crisis likely as crop comes under CLCV attack

Cotton crisis likely as crop comes under CLCV attack

Cotton leaf curl virus, a deadly pest, has badly hit the standing cotton crop across the country due to the use of uncertified and illegal BT cottonseeds, growers told Business Recorder on Thursday. The situation is very alarming and indicates like
Published 25 Sep, 2009 12:00am
Cotton business picking up after Eid holidays

Cotton business picking up after Eid holidays

With extended Eid-ul-Fitr holidays behind us and approaching weekend ahead of us, both domestic mills as well as the exporters are showing increasing interest in purchasing cotton. Therefore, despite the earlier impression that we would witness a holiday
Published 25 Sep, 2009 12:00am
Cotton crisis likely as crop comes under CLCV attack

Cotton crisis likely as crop comes under CLCV attack

Cotton leaf curl virus, a deadly pest, has badly hit the standing cotton crop across the country due to the use of uncertified and illegal BT cottonseeds, growers told Business Recorder on Thursday. The situation is very alarming and indicates like
Published 25 Sep, 2009 12:00am
Good business seen in post-Eid session

Good business seen in post-Eid session

Trading activity improved on the cotton market on Thursday though most of the participants were busy in Eid greetings in post-holiday session, dealers said. The official spot rate was unchanged at Rs 3475, they said. Approximately 9,000 bales changed hand
Published 25 Sep, 2009 12:00am
Japan wants role in market regulation

Japan wants role in market regulation

Japan wants to play a part in formulating global regulations to rein in "excessive money-making games," Prime Minister Yukio Hatoyama said in a speech on Thursday ahead of the Group of 20 financial summit. His comments appeared to echo the views of German
Published 25 Sep, 2009 12:00am
Minor rate changes in thin business on grain market

Minor rate changes in thin business on grain market

Sluggish business was seen on the wholesale grain market on Thursday as participants were busy in exchanging Eid greetings, dealers said. On the cereals side, Gur better type gained Rs 10 to Rs 5800 while the low type maintained its last week level, other
Published 25 Sep, 2009 12:00am
Cotton crisis likely as crop comes under CLCV attack

Cotton crisis likely as crop comes under CLCV attack

Cotton leaf curl virus, a deadly pest, has badly hit the standing cotton crop across the country due to the use of uncertified and illegal BT cottonseeds, growers told Business Recorder on Thursday. The situation is very alarming and indicates like
Published 25 Sep, 2009 12:00am
Oil cake market rates

Oil cake market rates

Stable trend was seen on the forward cottonseed oilcake market on Thursday during post-holiday session, dealers said. The December vaida, which closed at 901.50, opened at the same level and the January vaida, which closed at Rs 944.60, commenced with a r
Published 25 Sep, 2009 12:00am
Japan wants role in market regulation

Japan wants role in market regulation

Japan wants to play a part in formulating global regulations to rein in "excessive money-making games," Prime Minister Yukio Hatoyama said in a speech on Thursday ahead of the Group of 20 financial summit. His comments appeared to echo the views of German
Published 25 Sep, 2009 12:00am
IGC raises wheat crop estimate, cuts maize

IGC raises wheat crop estimate, cuts maize

The International Grains Council on Thursday raised its estimate for world wheat production in 2009/10 to 666 million tonnes, up from a previous forecast of 662 million. The crop remains, however, below the record 687 million tonnes produced in 2008/09.
Published 25 Sep, 2009 12:00am
UNSC votes to stem nuclear weapons spread

UNSC votes to stem nuclear weapons spread

The UN Security Council, at a summit chaired by US President Barack Obama, unanimously approved a resolution on Thursday that envisaged a world without nuclear weapons. The resolution also called for an end to the proliferation of atomic weapons but did n
Published 25 Sep, 2009 12:00am
Indonesia's sugar output can meet consumption

Indonesia's sugar output can meet consumption

Indonesia's sugar production target of 2.8 million tonnes this year will be sufficient to meet domestic consumption, Agriculture Minister Anton Apriyantono told Reuters on Thursday. But Indonesia, which is Southeast Asia's biggest sugar consumer, will sti
Published 25 Sep, 2009 12:00am
UNSC votes to stem nuclear weapons spread

UNSC votes to stem nuclear weapons spread

The UN Security Council, at a summit chaired by US President Barack Obama, unanimously approved a resolution on Thursday that envisaged a world without nuclear weapons. The resolution also called for an end to the proliferation of atomic weapons but did n
Published 25 Sep, 2009 12:00am
China's soyabean imports set to rise

China's soyabean imports set to rise

China's soyabean imports are set to rise substantially in the next few years, an executive at commodity trader Noble Group said on Thursday. Jaime Teke, global head of structured finance at the firm, which this week agreed an $850 million equity investmen
Published 25 Sep, 2009 12:00am
Japan wants role in market regulation

Japan wants role in market regulation

Japan wants to play a part in formulating global regulations to rein in "excessive money-making games," Prime Minister Yukio Hatoyama said in a speech on Thursday ahead of the Group of 20 financial summit. His comments appeared to echo the views of German
Published 25 Sep, 2009 12:00am
US wheat futures mostly higher

US wheat futures mostly higher

US wheat futures closed mostly higher on Wednesday due to short-covering but the spring wheat market fell on seasonal harvest pressure, traders said. A dust storm in Australia that threatened portions of the crop there also added support to the wheat mark
Published 25 Sep, 2009 12:00am
Multi-donor trust fund to arrange aid: Brown

Multi-donor trust fund to arrange aid: Brown

A multi-donor trust fund will come up with sustained financial support for Pakistan's economic development and prosperity, declared British Prime Minister Gordon Brown here Thursday. Appearing jointly with President Asif Ali Zardari at the conclusion of F
Published 25 Sep, 2009 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 212,326 tonnes of cargo including 179,656 tonnes import and 32,670 tonnes export cargo including 2,484 empty and loaded containers during last 48 hours ending at 0700 hours on Thursday. The cargo comprised of 106,681 tonnes dry ca
Published 25 Sep, 2009 12:00am
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