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Print - 2009-10-01
Egypt aims to double non-oil exports in four years

Egypt aims to double non-oil exports in four years

Egypt aims to double non-oil and gas exports to 200 billion Egyptian pounds ($36 billion) from 95 billion pounds in four years in a bid to create more jobs, the trade minister said on Wednesday. Egypt, the Arab world's most populous nation with about 77 m
Published 01 Oct, 2009 12:00am
Philippines shares fall

Philippines shares fall

Philippines share prices closed 0.23 percent lower on Wednesday due to falls on Wall Street and concerns over the cost of rebuilding after the massive flooding that hit Manila, dealers said. The composite index fell 6.50 points to 2,800.82 while the all-s
Published 01 Oct, 2009 12:00am
China vows to crack down on industrial overcapacity

China vows to crack down on industrial overcapacity

China's cabinet has laid out detailed plans to curb overcapacity in industries such as steel, aluminium, cement and wind power, warning that the country's economic recovery could otherwise be hampered. In a reiteration of existing policy targets, the Stat
Published 01 Oct, 2009 12:00am
Japan ready to support ailing JAL

Japan ready to support ailing JAL

Japan's new government said Wednesday it stood ready to support struggling Japan Airlines in the case of a financial emergency, seeking to allay growing worries about the carrier's future. "I believe the rehabilitation of JAL is more than possible," Trans
Published 01 Oct, 2009 12:00am
General Electric's Immelt warns US recovery slowest in decades

General Electric's Immelt warns US recovery slowest in decades

General Electric Co chief executive Jeffrey Immelt warned Tuesday that high unemployment and slower lending will drag on US economic growth, likely resulting in the weakest recovery in decades. "There are reasons to believe that this recovery could look d
Published 01 Oct, 2009 12:00am
Mauritius revises growth up

Mauritius revises growth up

Mauritius should see economic growth of 2.7 percent this year, up from a 2.5 percent forecast in June, the Central Statistics Office (CSO) said on Wednesday. The CSO also amended its estimate for 2008 GDP growth to 5.0 percent from 5.3 percent, due mainly
Published 01 Oct, 2009 12:00am
Moody's eyes Peru ratings upgrade after Fitch, S&P

Moody's eyes Peru ratings upgrade after Fitch, S&P

Moody's Investors Service said on Tuesday it put Peru's sovereign rating on review for a possible upgrade, more than a year after Fitch Ratings and Standard & Poor's gave the Andean country investment-grade ratings. Mauro Leos, regional credit officer at
Published 01 Oct, 2009 12:00am
Moody's eyes Peru ratings upgrade after Fitch, S&P

Moody's eyes Peru ratings upgrade after Fitch, S&P

Moody's Investors Service said on Tuesday it put Peru's sovereign rating on review for a possible upgrade, more than a year after Fitch Ratings and Standard & Poor's gave the Andean country investment-grade ratings. Mauro Leos, regional credit officer at
Published 01 Oct, 2009 12:00am
OECD warns Japan not to end stimulus steps too soon

OECD warns Japan not to end stimulus steps too soon

The Organisation for Economic Co-operation and Development urged Japan Wednesday to keep up its emergency stimulus measures to avoid stopping a tentative economic recovery in its tracks. The Bank of Japan needs to maintain its policy of super-cheap credit
Published 01 Oct, 2009 12:00am
Spanish economy shows recovery signs: central bank

Spanish economy shows recovery signs: central bank

Spain's recession-hit economy is showing signs of steadying, but recent improvements in consumer spending have faltered, the Bank of Spain said on Wednesday. "The most recent indicators show an overall slowdown in the pace of decline of activity in the su
Published 01 Oct, 2009 12:00am
UniCredit, Intesa SP shares rise after capital moves

UniCredit, Intesa SP shares rise after capital moves

Moves by Italy's biggest banks - Intesa Sanpaolo SpA and UniCredit SpA - to raise capital from investors and shun the restrictions of state aid helped boost their share prices on Wednesday. UniCredit, the Italian bank most battered by the financial crisis
Published 01 Oct, 2009 12:00am
UniCredit, Intesa SP shares rise after capital moves

UniCredit, Intesa SP shares rise after capital moves

Moves by Italy's biggest banks - Intesa Sanpaolo SpA and UniCredit SpA - to raise capital from investors and shun the restrictions of state aid helped boost their share prices on Wednesday. UniCredit, the Italian bank most battered by the financial crisis
Published 01 Oct, 2009 12:00am
Kazakhstan current account deficit $3.7 billion

Kazakhstan current account deficit $3.7 billion

Kazakhstan's current account deficit was $3.7 billion at the end of the first half of 2009, compared with a $3.8 billion surplus at the end of the same period last year, the central bank said on Wednesday. The bank forecasts Kazakhstan's current account d
Published 01 Oct, 2009 12:00am
Record KOF jumps show Swiss economy on the mend

Record KOF jumps show Swiss economy on the mend

The recovery of the Swiss economy from the deepest recession in decades looks set to gain traction, a record jump in the country's leading growth barometer KOF in September showed on Wednesday. The surprisingly sharp rise in the barometer supported the Sw
Published 01 Oct, 2009 12:00am
Irish jobless trend gives govt cheer as EU vote looms

Irish jobless trend gives govt cheer as EU vote looms

The number of people claiming unemployment benefit in Ireland rose by just 600 in September, the slowest rate in nearly a year and a half, boosting the government two days ahead of a crucial EU referendum. Official data on Wednesday showing 429,400 people
Published 01 Oct, 2009 12:00am
'Angola to use IMF cash to shore up currency'

'Angola to use IMF cash to shore up currency'

Angola's economy minister told state radio Wednesday that the country would use its just-announced IMF loans to boost its foreign reserves and reduce pressure on the national currency. On Tuesday the southern African country reached a preliminary deal wit
Published 01 Oct, 2009 12:00am
China says no to WTO chemical sector deal

China says no to WTO chemical sector deal

China rejected on Monday calls from the United States and European businesses to join a pact eliminating import duties in the chemical sector as part of a global trade deal. The refusal, voiced by China's ambassador to the World Trade Organisation, Sun Zh
Published 01 Oct, 2009 12:00am
Chinese, Japanese factories ramp up output

Chinese, Japanese factories ramp up output

Manufacturing activity powered ahead in China and Japan in September, providing fresh evidence of a global recovery, boosted by new orders from their home markets and abroad. Japanese manufacturing grew at its fastest pace in three years, while factories
Published 01 Oct, 2009 12:00am
Eurozone consumer prices fall

Eurozone consumer prices fall

Eurozone consumer prices fell this month by more than economists had expected, data showed on Wednesday, but are seen growing again in year-on-year terms in November. The expected rebound in November is due to the impact in year-ago comparisons of the ste
Published 01 Oct, 2009 12:00am
French budget bets on growth amid record deficit

French budget bets on growth amid record deficit

France took a bet on Wednesday that its tentative economic recovery will eventually gain momentum, as the government revealed an annual budget based on running record deficits until at least 2011. According to figures released with the budget plan, France
Published 01 Oct, 2009 12:00am
US Congress approves bill on assistance

US Congress approves bill on assistance

The US Congress on Wednesday approved tripling non-military aid to Pakistan to help fight extremism in the nuclear-armed country, sending the measure to President Barack Obama for signing into law. Obama had urged the bill's passage to promote stability i
Published 01 Oct, 2009 12:00am
White House to exempt Canada on 'Buy American'

White House to exempt Canada on 'Buy American'

The White House is expected to exempt Canada from a provision in the US stimulus package that gives priority to American-made products used in public works projects, CBC News reported on Tuesday. In return Ottawa will offer US companies guaranteed access
Published 01 Oct, 2009 12:00am
US Congress approves bill on assistance

US Congress approves bill on assistance

The US Congress on Wednesday approved tripling non-military aid to Pakistan to help fight extremism in the nuclear-armed country, sending the measure to President Barack Obama for signing into law. Obama had urged the bill's passage to promote stability i
Published 01 Oct, 2009 12:00am
German unemployment falls again, defies forecasts

German unemployment falls again, defies forecasts

German unemployment fell for a third consecutive month in September as statistical changes and government measures cushioned the labour market in Europe's largest economy. The number of jobless fell by 12,000 in seasonally adjusted terms this month, good
Published 01 Oct, 2009 12:00am
US Congress approves bill on assistance

US Congress approves bill on assistance

The US Congress on Wednesday approved tripling non-military aid to Pakistan to help fight extremism in the nuclear-armed country, sending the measure to President Barack Obama for signing into law. Obama had urged the bill''s passage to promote stability
Published 01 Oct, 2009 12:00am
Malaysia, Saudi Arabia set up $2.5 billion investment fund

Malaysia, Saudi Arabia set up $2.5 billion investment fund

Malaysia and Saudi Arabia on Wednesday said they would establish a 2.5 billion dollar partnership to invest in economic and energy projects here. The joint-venture company is a collaboration between government development and investment firm 1Malaysia Dev
Published 01 Oct, 2009 12:00am
POL prices reduced

POL prices reduced

The government on Wednesday slashed prices of petroleum products up to Rs 4.80 per litre in line with the reduction in global oil prices effective today (Thursday). The Oil and Gas Regulatory Authority (Ogra) has issued notification in this regard. The sp
Published 01 Oct, 2009 12:00am
China has positive role in US 'backyard': World Bank

China has positive role in US 'backyard': World Bank

China's role in helping some Latin American countries weather the global economic crisis highlights its growing footprint in a region long considered the "backyard" of the United States. Pamela Cox, the top World Bank official for Latin America and the Ca
Published 01 Oct, 2009 12:00am
POL prices reduced

POL prices reduced

The government on Wednesday slashed prices of petroleum products up to Rs 4.80 per litre in line with the reduction in global oil prices effective today (Thursday). The Oil and Gas Regulatory Authority (Ogra) has issued notification in this regard. The sp
Published 01 Oct, 2009 12:00am
US GDP shrinks, manufacturing pulls back

US GDP shrinks, manufacturing pulls back

The US economy contracted in the second quarter at a slower pace than previously thought, while a surprise slide in manufacturing activity in the country's Midwest region in September pointed to a patchy recovery from recession. Gross domestic product, wh
Published 01 Oct, 2009 12:00am
POL prices reduced

POL prices reduced

The government on Wednesday slashed prices of petroleum products up to Rs 4.80 per litre in line with the reduction in global oil prices effective today (Thursday). The Oil and Gas Regulatory Authority (Ogra) has issued notification in this regard. The sp
Published 01 Oct, 2009 12:00am
Without US healthcare plan, states could pay more

Without US healthcare plan, states could pay more

If the US Congress fails to reform health care, states will spend more on their programs for the poor than they currently pay out, according to a new report on Wednesday. The Robert Wood Johnson Foundation report shows that within a decade the number of p
Published 01 Oct, 2009 12:00am
Air India pilots call off strike, claim victory

Air India pilots call off strike, claim victory

Pilots at the ailing state-run carrier Air India Wednesday called off a strike over wage cuts in its fifth day, saying they had won government assurances that their salaries would be protected. The airline said it was again taking bookings, having suspend
Published 01 Oct, 2009 12:00am
British recruitment firms fined

British recruitment firms fined

Six British recruitment companies have together been fined almost 40 million pounds for price-fixing and the boycott of a rival company, the Office of Fair Trading said on Wednesday. The OFT said in a statement that it has "imposed fines totalling 39.27 m
Published 01 Oct, 2009 12:00am
Power tariff up by six percent from today

Power tariff up by six percent from today

The government on Wednesday increased power tariff by 6 percent effective October 1, 2009 (today) after Prime Minister Syed Yousuf Raza Gilani cleared a summary of the Ministry of Water and Power, official sources told Business Recorder. The source
Published 01 Oct, 2009 12:00am
Gold prices firm in Asia

Gold prices firm in Asia

Gold firmed on Wednesday and was poised to post its best quarterly performance since the first quarter of 2008, helped by dollar weakness and technical momentum. Spot gold was at $996.30 per ounce at 0613 GMT, up 0.6 percent against the notional close in
Published 01 Oct, 2009 12:00am
Power tariff up by six percent from today

Power tariff up by six percent from today

The government on Wednesday increased power tariff by 6 percent effective October 1, 2009 (today) after Prime Minister Syed Yousuf Raza Gilani cleared a summary of the Ministry of Water and Power, official sources told Business Recorder. The source
Published 01 Oct, 2009 12:00am
Malaysian palm oil futures ease

Malaysian palm oil futures ease

Malaysian crude palm oil futures edged lower on Wednesday, with traders saying sharp moves are unlikely during the week and next due to a lack of new leads and as big buyer China will be on holiday. The benchmark December contract on the Bursa Malaysia De
Published 01 Oct, 2009 12:00am
Berlusconi to lead business team to Pakistan

Berlusconi to lead business team to Pakistan

Italian Prime Minister Silvio Berlusconi Wednesday announced to personally lead delegation of leading Italian businessmen and entrepreneurs during the current calendar year to explore possibilities of investment in key areas of Pakistan's economy. The Ita
Published 01 Oct, 2009 12:00am
Malaysian tin gains

Malaysian tin gains

Malaysian tin rose 1 percent on Wednesday on strong demand from Europe and gains on the London Metal Exchange, one dealer said.
Published 01 Oct, 2009 12:00am
Berlusconi to lead business team to Pakistan

Berlusconi to lead business team to Pakistan

Italian Prime Minister Silvio Berlusconi Wednesday announced to personally lead delegation of leading Italian businessmen and entrepreneurs during the current calendar year to explore possibilities of investment in key areas of Pakistan's economy. The Ita
Published 01 Oct, 2009 12:00am
Oil up above $67 in Asian markets

Oil up above $67 in Asian markets

Oil rose above $67 on Wednesday, recouping day-ago losses as the US dollar eased against the euro and resource currencies like the Australian dollar, while eyes are on talks over Iran's nuclear plans. US crude futures rose 45 cents to $67.16 a barrel by 0
Published 01 Oct, 2009 12:00am
Power tariff up by six percent from today

Power tariff up by six percent from today

The government on Wednesday increased power tariff by 6 percent effective October 1, 2009 (today) after Prime Minister Syed Yousuf Raza Gilani cleared a summary of the Ministry of Water and Power, official sources told Business Recorder. The source
Published 01 Oct, 2009 12:00am
US gold up

US gold up

US gold futures ended a tad higher in mixed trade on Tuesday as a dollar bounce prompted bullion investors to stay on the sidelines, but short-term consolidation could continue following a recent rally, traders said.
Published 01 Oct, 2009 12:00am
Defence agreement signed with Italy

Defence agreement signed with Italy

Italian Prime Minister Silvio Berlusconi and President Asif Ali Zardari presided Wednesday over the signing of a defence memorandum between their two countries. "The agreement aims to increase the exchange of intelligence and bilateral trade in the milita
Published 01 Oct, 2009 12:00am
New York sugar surges

New York sugar surges

Raw sugar futures closed higher Tuesday, with the market extending its recent rally on reports of excessive rain drenching the cane crop in top grower Brazil and talk of possible imports from Mexico, brokers said. The March raw sugar contract soared 0.84
Published 01 Oct, 2009 12:00am
Defence agreement signed with Italy

Defence agreement signed with Italy

Italian Prime Minister Silvio Berlusconi and President Asif Ali Zardari presided Wednesday over the signing of a defence memorandum between their two countries. "The agreement aims to increase the exchange of intelligence and bilateral trade in the milita
Published 01 Oct, 2009 12:00am
US soya down

US soya down

US soybean futures closed lower after an early climb on prospects for a huge US soy harvest. CBOT November soy down 2-1/2 cents at $9.17 a bushel. Funds sold 1,000 lots. Reports continue that harvest yields will be huge this season. Corn-soy spreading wei
Published 01 Oct, 2009 12:00am
Berlusconi to lead business team to Pakistan

Berlusconi to lead business team to Pakistan

Italian Prime Minister Silvio Berlusconi Wednesday announced to personally lead delegation of leading Italian businessmen and entrepreneurs during the current calendar year to explore possibilities of investment in key areas of Pakistan''s economy. The It
Published 01 Oct, 2009 12:00am
Tokyo rubber gains

Tokyo rubber gains

Tokyo rubber futures rose more than 2 percent to top 200 yen on Wednesday, though they later trimmed gains as the yen inched up on the dollar. The Tokyo Commodity Exchange rubber contract for March delivery was at 199.1 yen per kg at 0357 GMT, up 1.9 yen
Published 01 Oct, 2009 12:00am
$175 million bids received for 41 blocks

$175 million bids received for 41 blocks

The government on Wednesday received competitive bids for 41 blocks against bids for 53 blocks in all the four provinces. However, investors have not shown any interest in 12 blocks located in Balochistan due to poor law and order situation. Total value o
Published 01 Oct, 2009 12:00am
US rice rises

US rice rises

US rice futures on the Chicago Board of Trade rose for third straight day to hit a one-week high on Tuesday, extending their rebound from two-month lows last week, traders said. A rain-delayed US harvest due to heavy rains in the Mississippi Delta region
Published 01 Oct, 2009 12:00am
$175 million bids received for 41 blocks

$175 million bids received for 41 blocks

The government on Wednesday received competitive bids for 41 blocks against bids for 53 blocks in all the four provinces. However, investors have not shown any interest in 12 blocks located in Balochistan due to poor law and order situation. Total value o
Published 01 Oct, 2009 12:00am
$175 million bids received for 41 blocks

$175 million bids received for 41 blocks

The government on Wednesday received competitive bids for 41 blocks against bids for 53 blocks in all the four provinces. However, investors have not shown any interest in 12 blocks located in Balochistan due to poor law and order situation. Total value o
Published 01 Oct, 2009 12:00am
Japanese rubber stocks down

Japanese rubber stocks down

Japan's crude rubber inventories totalled 6,654 tonnes as of September 10, down roughly 0.9 percent from 10 days earlier, data from the Rubber Trade Association of Japan showed. The latest figure represents an increase of about 37 percent from a year earl
Published 01 Oct, 2009 12:00am
Illegal sales tax refund scam: FBR makes two tax officials OSD

Illegal sales tax refund scam: FBR makes two tax officials OSD

Following the directive of the Public Accounts Committee (PAC), the Federal Board of Revenue (FBR) on Wednesday made Nadir Khan Hoti, Collector, Model Customs Collectorate, Rawalpindi, and Sheeraz Ahmed, Deputy Director, Directorate-General of Training an
Published 01 Oct, 2009 12:00am
Asian physical rubber mostly higher

Asian physical rubber mostly higher

Asian physical rubber prices were mostly higher on Wednesday due to supply tightness as a result of rain in Thailand, the world's top producer. A Thailand-based trader said it has been raining heavily in many parts of the country for about half of Septemb
Published 01 Oct, 2009 12:00am
Diamer-Bhasha dam project: no more investment until issues resolved

Diamer-Bhasha dam project: no more investment until issues resolved

The government has decided not to invest in the multi-billion-dollar 4500 MW Diamer Bhasha Dam until critical issues including boundary dispute between NWFP and Northern Areas (NA) are settled, official sources told Business Recorder. The designed
Published 01 Oct, 2009 12:00am
Declining trend on grain market

Declining trend on grain market

Downward trend persisted on the wholesale grain market on Wednesday as grams prices still on drifting side due to steady arrivals from upcountry centres, dealers said.
Published 01 Oct, 2009 12:00am
Diamer-Bhasha dam project: no more investment until issues resolved

Diamer-Bhasha dam project: no more investment until issues resolved

The government has decided not to invest in the multi-billion-dollar 4500 MW Diamer Bhasha Dam until critical issues including boundary dispute between NWFP and Northern Areas (NA) are settled, official sources told Business Recorder. The designed
Published 01 Oct, 2009 12:00am
Quality factor stabilises rates on cotton market

Quality factor stabilises rates on cotton market

Quality factor has increased the demand for the local cotton, which helped in stabilising the rates on the cotton market on Wednesday, dealers said. The official spot rate was unchanged at Rs 3500. Approximately, 35,000 bales changed hands between Rs 3525
Published 01 Oct, 2009 12:00am
Diamer-Bhasha dam project: no more investment until issues resolved

Diamer-Bhasha dam project: no more investment until issues resolved

The government has decided not to invest in the multi-billion-dollar 4500 MW Diamer Bhasha Dam until critical issues including boundary dispute between NWFP and Northern Areas (NA) are settled, official sources told Business Recorder. The designed
Published 01 Oct, 2009 12:00am
Asian rice prices rise on government intervention

Asian rice prices rise on government intervention

Asian rice prices have risen, propped up by government intervention and the prospect of rising demand for food aid after typhoon Ketsana swept through the region, traders said on Wednesday. The price of Thailand's benchmark 100 percent B grade white rice
Published 01 Oct, 2009 12:00am
Navy acquires anti-submarine helicopters from China

Navy acquires anti-submarine helicopters from China

Pakistan Navy has acquired Anti Submarine Warfare (ASW) helicopters Z9EC from China. The induction ceremony was held here on Wednesday at the Naval Aviation Base, says an ISPR (Navy) press release. It said that the Chief of the Naval Staff, Admiral Noman
Published 01 Oct, 2009 12:00am
Oil cake markwet rates

Oil cake markwet rates

Upward trend was again seen on the forward cottonseed oilcake market on Wednesday in process of slow trading, dealers said. The December vaida which closed at 901.80, opened with a gain of 40 paisa at Rs 902.20 and January contract which closed at Rs 946.
Published 01 Oct, 2009 12:00am
Navy acquires anti-submarine helicopters from China

Navy acquires anti-submarine helicopters from China

Pakistan Navy has acquired Anti Submarine Warfare (ASW) helicopters Z9EC from China. The induction ceremony was held here on Wednesday at the Naval Aviation Base, says an ISPR (Navy) press release. It said that the Chief of the Naval Staff, Admiral Noman
Published 01 Oct, 2009 12:00am
US corn futures firm

US corn futures firm

US corn futures closed firm on Tuesday, rising over 1/2 percent as wet and cold weather threatened the 2009 harvest. Soyabeans sagged as traders bought corn and sold soya in spread trading. "There is corn/bean spreading, the bean yields are just huge, and
Published 01 Oct, 2009 12:00am
ENI wins new onshore gas block

ENI wins new onshore gas block

Italy''s ENI is expanding in Pakistan with a new onshore gas concession and is in longer-term talks to bring gas from the Caspian Sea region to Pakistan, India and China, its CEO said on Wednesday. ENI chief Paolo Scaroni spoke to reporters after a meetin
Published 01 Oct, 2009 12:00am
Rains in Vietnam hit coffee quality

Rains in Vietnam hit coffee quality

Farmers in Vietnam, the world's largest robusta producer, struggled to dry beans after heavy rains lashed out the country's growing area, while offers from Indonesia were scarce as London prices dropped. The biggest floods in decades threatened Vietnam's
Published 01 Oct, 2009 12:00am
ENI wins new onshore gas block

ENI wins new onshore gas block

Italy's ENI is expanding in Pakistan with a new onshore gas concession and is in longer-term talks to bring gas from the Caspian Sea region to Pakistan, India and China, its CEO said on Wednesday. ENI chief Paolo Scaroni spoke to reporters after a meeting
Published 01 Oct, 2009 12:00am
Indonesia cuts sugar import duty

Indonesia cuts sugar import duty

Indonesia has cut import duties for white and raw sugar to 400 rupiah and 150 rupiah per kg, respectively, from 790 and 550 rupiah, in order to boost stocks and ease prices, an industry official said on Wednesday. Southeast Asia's biggest consumer of the
Published 01 Oct, 2009 12:00am
ENI wins new onshore gas block

ENI wins new onshore gas block

Italy's ENI is expanding in Pakistan with a new onshore gas concession and is in longer-term talks to bring gas from the Caspian Sea region to Pakistan, India and China, its CEO said on Wednesday. ENI chief Paolo Scaroni spoke to reporters after a meeting
Published 01 Oct, 2009 12:00am
US Midwest bids for corn and soya start to crumble

US Midwest bids for corn and soya start to crumble

Cash basis bids for corn and soyabeans were starting to crumble in the US Midwest Tuesday in response to a pickup in harvest selling, but bids held firm in areas where harvest progress was slow, dealers said. Soyabean bids posed the biggest declines, with
Published 01 Oct, 2009 12:00am
Net income down 59.3 percent in fiscal year 2009

Net income down 59.3 percent in fiscal year 2009

The net income of Karachi Stock Exchange (KSE) has declined by 59.3 percent to Rs 314.085 million in the year ended June 30, 2009 (FY09) as compared to Rs 771.728 million earned in the same period in FY08. The major reason for this decline has been attrib
Published 01 Oct, 2009 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 49,380 tonnes of cargo including 35,271 tonnes import and 14,109 tonnes export cargo including 3,520 empty and loaded containers during last 24 hours ending at 0700 hours on Wednesday. The cargo comprised of 48,934 tonnes dry carg
Published 01 Oct, 2009 12:00am
Net income down 59.3 percent in fiscal year 2009

Net income down 59.3 percent in fiscal year 2009

The net income of Karachi Stock Exchange (KSE) has declined by 59.3 percent to Rs 314.085 million in the year ended June 30, 2009 (FY09) as compared to Rs 771.728 million earned in the same period in FY08. The major reason for this decline has been attrib
Published 01 Oct, 2009 12:00am
M&S sales trend improves but 2010 looks tough

M&S sales trend improves but 2010 looks tough

British retailer Marks & Spencer raised full-year profit hopes when posting an improved quarterly sales trend, but said costs were rising and it would be 2011 before the economy fully recovered. Executive chairman Stuart Rose said there was more visibilit
Published 01 Oct, 2009 12:00am
Revised index being introduced today

Revised index being introduced today

The Karachi Stock Exchange (KSE) has carried out re-composition exercise of KSE-100 Index companies for the review period from March to August 2009 as per the ''Re-composition Rules'' of the index. The revised Index will be implemented from October 1, 200
Published 01 Oct, 2009 12:00am
Bharti-MTN talks deadline looms; next step uncertain

Bharti-MTN talks deadline looms; next step uncertain

A deadline for exclusive talks for a $24 billion tie-up between Indian telecoms firm Bharti Airtel and South Africa's MTN Group ends on Wednesday, with little clarity on where the deal is heading. Bharti has sought two more weeks of exclusive talks with m
Published 01 Oct, 2009 12:00am
Revised index being introduced today

Revised index being introduced today

The Karachi Stock Exchange (KSE) has carried out re-composition exercise of KSE-100 Index companies for the review period from March to August 2009 as per the 'Re-composition Rules' of the index. The revised Index will be implemented from October 1, 2009.
Published 01 Oct, 2009 12:00am
'Red Sun' never sets in 60-year-old New China

'Red Sun' never sets in 60-year-old New China

Today is Ist October 2009, a day of joy and happiness for the People's Republic of China and friends of China around the world to mark the 60th founding anniversary of the People's Republic. The past 60 years since independence of China after the end of c
Published 01 Oct, 2009 12:00am
Revised index being introduced today

Revised index being introduced today

The Karachi Stock Exchange (KSE) has carried out re-composition exercise of KSE-100 Index companies for the review period from March to August 2009 as per the 'Re-composition Rules' of the index. The revised Index will be implemented from October 1, 2009.
Published 01 Oct, 2009 12:00am
Pak-China relationship based on strong trust

Pak-China relationship based on strong trust

Newly elected President of Islamic Republic of Pakistan, Asif Ali Zardari, called on to the China, the brother and neighbour of Islamic Republic of Pakistan. Not only the bilateral relationship between Pakistan and China is an example to the world but als
Published 01 Oct, 2009 12:00am
Illegal sales tax refund scam: FBR makes two tax officials OSD

Illegal sales tax refund scam: FBR makes two tax officials OSD

Following the directive of the Public Accounts Committee (PAC), the Federal Board of Revenue (FBR) on Wednesday made Nadir Khan Hoti, Collector, Model Customs Collectorate, Rawalpindi, and Sheeraz Ahmed, Deputy Director, Directorate-General of Training an
Published 01 Oct, 2009 12:00am
Pak-China Cultural Center

Pak-China Cultural Center

Aims And Objectives: 1. To build up the Pakistan China Club for promotion of the friendship between two of the great countries.
Published 01 Oct, 2009 12:00am
Illegal sales tax refund scam: FBR makes two tax officials OSD

Illegal sales tax refund scam: FBR makes two tax officials OSD

Following the directive of the Public Accounts Committee (PAC), the Federal Board of Revenue (FBR) on Wednesday made Nadir Khan Hoti, Collector, Model Customs Collectorate, Rawalpindi, and Sheeraz Ahmed, Deputy Director, Directorate-General of Training an
Published 01 Oct, 2009 12:00am
Hamdard Laboratories (Waqf) Pakistan

Hamdard Laboratories (Waqf) Pakistan

Hamdard, which means "Co Sharer in Suffering", was started in Delhi in 1906 as an herbal shop by Hakim Hafiz Abdul Majeed. After the partition of India, Shaheed Hakim Mohammad Said, the younger son of Hakim Abdul Majeed, migrated to Pakistan and establish
Published 01 Oct, 2009 12:00am
Index sheds 125.80 points

Index sheds 125.80 points

The KSE-100 index on Wednesday lost 125.80 points to close at 9,349.68 points level due to profit taking mainly opted by local investors. The market opened on a positive note and the index hit 9,588.58 points intra-day high level, up 113.10 points mainly
Published 01 Oct, 2009 12:00am
Quadri Group: cater the needs of shoe and allied industry

Quadri Group: cater the needs of shoe and allied industry

Quadri Group started off in 1957 as a small shop in Juna Market, Karachi by two ambitious and hardworking entrepreneurs, Muhammad Zafar Uddin Quadri and Muhammad Hanif Uddin Quadri. The shop catered to the needs of cobblers and small shoemakers. Today, Qu
Published 01 Oct, 2009 12:00am
Index sheds 125.80 points

Index sheds 125.80 points

The KSE-100 index on Wednesday lost 125.80 points to close at 9,349.68 points level due to profit taking mainly opted by local investors. The market opened on a positive note and the index hit 9,588.58 points intra-day high level, up 113.10 points mainly
Published 01 Oct, 2009 12:00am
Pakistan Atomic Energy Commission in service of the nation

Pakistan Atomic Energy Commission in service of the nation

Pakistan Atomic Energy Commission (PAEC), over the years, has built an extensive infrastructure for contributing to the economic uplift of the country. Its activities span an extremely wide spectrum: from nuclear power generation to minerals development,
Published 01 Oct, 2009 12:00am
Index sheds 125.80 points

Index sheds 125.80 points

The KSE-100 index on Wednesday lost 125.80 points to close at 9,349.68 points level due to profit taking mainly opted by local investors. The market opened on a positive note and the index hit 9,588.58 points intra-day high level, up 113.10 points mainly
Published 01 Oct, 2009 12:00am
NWFP to revive Cooperative Bank, societies

NWFP to revive Cooperative Bank, societies

The government of NWFP Wednesday assured the provincial assembly for the revival of the Cooperative Bank and Cooperative Societies to facilitate farmers in getting soft agricultural loans in the province. The matter was raised by the senior parliamentaria
Published 01 Oct, 2009 12:00am
New York cotton

New York cotton

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

Published 01 Oct, 2009 12:00am
Net income down 59.3 percent in fiscal year 2009

Net income down 59.3 percent in fiscal year 2009

The net income of Karachi Stock Exchange (KSE) has declined by 59.3 percent to Rs 314.085 million in the year ended June 30, 2009 (FY09) as compared to Rs 771.728 million earned in the same period in FY08. The major reason for this decline has been attrib
Published 01 Oct, 2009 12:00am
Karachi interbank rates

Karachi interbank rates

Karachi interbank rates on Wednesday (September 30, 2009).

Published 01 Oct, 2009 12:00am
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