The Minister for Petroleum and Natural Resources, Naveed Qamar on Saturday informed the National Assembly that the project of setting up three oil refineries with total refining capacity of 465,000 barrels per day "are in pipeline".
Interest rates on new foreign currency deposits issued by the Treasury Management Division of National Bank of Pakistan on Saturday (November 07, 2009).
Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
The Cotton Cloth, Bed sheets, Apparel and textiles made ups manufacturers and exporters are demanding for a total ban on export of coarse yarn being consumed by the domestic industry, and agreed that only fine yarn above 32 single counts should be allowed
Rising trend persisted on the forward cottonseed oilcake market on Saturday amid strong demand, dealers said. The December vaida, which closed at 910.60 opened with a gain of 20 paisa at Rs 910.80, and the January contract, which ended at Rs 953.80 opened
Trading activity fell on the cotton market on Saturday as buyers are still under pressure owing the expected ban on cotton export by the county and India as well, dealers said. The official spot rate was unchanged at Rs 3875, brokers said. In the ready bu
Thin business was seen on the wholesale grain and seed markets on Saturday as most of the items were unmoved due to balanced demand and supply position, dealers said. On the cereals side gur low type gained Rs 200 to Rs 5000 while the better type was unch
Export premiums for US soyabeans at the Gulf of Mexico rose on Friday due to renewed buying interest from China, traders said. The higher values came even as farmers were making heavy deliveries of soyabeans to river elevators around the Midwest. Corn exp
ICE Canada canola futures closed 2 percent lower on Friday as slipping US crude oil and soybean prices weighed down the market and as weather appears favourable for harvesting in Canada, traders said. The forecast for the Prairies is dry and unusually mil
Russia exported 78.5 percent more wheat outside the CIS in the first nine months of 2009 than in the same period a year ago, a much narrower gap than a sixfold increase seen in the first half of the year, when comparisons were skewed by a 2008 export free
Indian iron ore exports jumped an annual 88 percent in September as Chinese demand picked up, and partly reflected a statistical effect caused by a slump in the same month last year in the wake of the world economic crisis. Exports climbed to 6.25 million
The Karachi Port handled 87,703 tonnes of cargo including 42,239 tonnes import and 45,464 tonnes export cargo including 2,581 empty and loaded containers during last 24 hours ending at 0700 hours on Saturday. The cargo comprised of 71,625 tonnes dry cargo
Spot basis bids for corn and soyabeans fell further around the US Midwest late Friday as farmers delivered harvested supplies and, in some cases, sold truck loads of each commodity, dealers said. A dealer in Davenport, Iowa, reported a pickup in farmer sa
US cocoa futures trickled to a lower settlement Friday, in options-related dealings and on December/March spreading, while general selling in commodities added pressure, dealers said. The benchmark March cocoa contract closed down $39 at $3,237 per tonne.
Corn and soybean prices tumbled on Friday as the best week of harvest so far this fall weighed on the market, oil prices fell 3 percent and the US unemployment rate spiked to its highest level in 26-1/2 years. The harvest of the world's largest corn and s
Physical rubber supply in Thailand, the world's biggest producer, is expected to be tight over the next few weeks as monsoon weather has hit rubber areas along the Gulf of Thailand, officials and traders said on Friday. That is expected to push prices up
US copper futures ended lower on Friday, but were able to withstand greater losses sparked by disappointing employment data that initially slammed commodity and equity markets alike. Copper for December delivery eased 0.45 cent to settle at $2.9525 a lb o
US gold futures jumped to a record high above $1,100 an ounce Friday morning after government data showed US employers slashed more jobs than expected in October and the unemployment rate rose above 10 percent to the highest since April 1983. COMEX Decemb
Russia will raise its import tariff on rice to 120 euros ($178.2) per tonne from 70 euros for nine months to support the competitiveness of domestic producers, the government said on Friday. The government said on its web site, www.government.ru, that the
Torrential rains that swamped large swathes of the US Cotton Belt will likely prompt the government to cut US 2009/10 cotton production in next week's crop report, industry analysts said Friday. US cotton output is forecast at an average of 12.69 million
Arabica coffee futures closed down 2.3 percent Friday, pressured by profit-taking and commodity-wide selling, as a spike in the US unemployment rate added to concern about economic health, traders said. Arabica coffee for December delivery sank 3.20 cents
Raw sugar futures ended lower Friday on investor sales and liquidation as the market seems to be probing the lower end of its trading band, brokers said. The March raw sugar contract slid 0.33 cent to conclude at 22.43 cents per lb. The contract traded fr
US soybean futures clawed back lost ground on Friday, after plunging nearly 3 percent the previous day as drier weather allowed harvesting of corn and soybean crops in the US Midwest to pick up speed. Corn and wheat futures continued to fall, due to the h
US rice futures on the Chicago Board of Trade closed lower on Friday on profit-taking after hitting contract highs during the overnight session, traders said. November rice settled down 1-1/2 cent at $14.95 per hundredweight. January closed 5 cents lower
Indonesia is planning to develop an integrated raw sugar industry worth nearly $1.9 billion over the next five years in order to end its dependence on imports, an industry official said on Friday. The investment is needed to build 15 raw sugar mills and t
Gold prices struck a series of record highs this week, eventually spiking above 1,100 dollars for the first time, as Asian central banks snapped up the precious metal as an alternative to the dollar. The price of gold hit a record high above 1,100 dollars
The six-nation Central African Economic and Monetary Community (CEMAC) could see growth of up to four percent in 2010, up from the modest 2.4 percent expected this year, the regional central bank said late on Friday. While Central Africa's largely oil-pro
Disgraced by a criminal conviction in a trial centred on arms sales to Angola when it was at war, the son of former French President Francois Mitterrand still sees a future for himself doing business in Africa. Jean-Christophe Mitterrand, who as his late
A meeting of Group of 20 finance leaders should not be fixated on exchange rate levels as they are a symptom of underlying economic problems rather than a cause, the head of the International Monetary Fund's policy-steering committee told Reuters on Satur
Banks in China are expected to lend 8-9 trillion yuan in 2010, slowing a touch from this year's likely new-loan total of 10 trillion yuan, Bank of Communications (BoCom) said on Saturday. Robust loan growth will help boost the banking industry's profits b
China has started building a workboat wharf as a first step in its project to construct a 771-kilometre overland gas pipeline from Myanmar's Rakhine state to Yunnan, state media reported Saturday. Chinese National Petroleum Corp on October 31 began the wh
Japan's government plans to introduce legislation early next year to forcibly cut pension payouts for Japan Airlines Corp retirees and make the cuts a condition for a state bailout of the troubled carrier, the Nikkei business daily said. Ministers will ne
Ecuador's government is forecasting 2010 economic growth at 6.81 percent with inflation at 3.4 percent for the year, according to a budget proposal presented to the National Assembly on Friday. The budget proposal sees the average price for crude oil at $
Signs of improvement have emerged in most major economies, with a marked recovery in the United States and Japan and strong pointers to growth in several European economies and China, the OECD said on Friday. The Paris-based Organisation for Economic Co-o
Sri Lanka's central bank on Saturday said it has been buying gold to diversify its reserves amid volatile currency markets, days after India announced it had purchased 200 tonnes of the precious metal. Central Bank assistant governor Nandalal Weerasinghe
Tens of thousands of South Korean workers rallied Saturday to protest the government's plan to begin implementing contentious labour laws. The government says it will begin enforcing laws next year to allow multiple unions for each workplace and prohibit
The jump in US unemployment above 10 percent for the first time since 1983 will pressure President Barack Obama to find additional stimulus to keep a fragile economic recovery on track, analysts say. The weaker-than-expected Labour Department report Frida
Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit. Results were announced three days after Buffett
Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit. Results were announced three days after Buffett
The US Treasury will block the sale of Fannie Mae tax credits to Goldman Sachs Group because the transfer would harm taxpayers, an administration official said on Friday. Fannie Mae, the largest provider of funding for US home loans, said on Thursday in i
Democratic leaders in the US House of Representatives scrambled on Friday to allay lingering concerns about a broad healthcare overhaul and said a landmark vote planned for Saturday could slip a day or more. President Barack Obama and top administration o
United Arab Emirates Oil Minister Mohammed al-Hamli said on Saturday raising oil production was not currently on the agenda for Opec. "Right now increasing production is not on the agenda," Hamli told reporters in Dubai. Opec meets on December 22 in Angol
The United States expects the leaders of all Asean nations to attend a summit in Singapore next week, a US diplomat said Saturday, setting the stage for a possible meeting between Barack Obama and leaders of Myanmar's ruling junta. Speaking at a meeting i
The European chief of General Motors (GM), Carl-Peter Forster, may switch to Indian car manufacturer Tata, German media reported Saturday. Forster, 55, is quitting GM after strongly criticising the Detroit-based car giant's surprise U-turn in deciding not
Manfred Wennemer resigned from his post as one of the five board members of the Opel Trust on Saturday in protest against the constant interference by politicians in Germany surrounding planned sale of Opel. While potentially embarrassing to Berlin.
China appeared on Saturday to be adopting a more nuanced investment approach in Africa amid stiff criticism that its aggressive quest for natural resources has ignored local human rights violations. Ahead of a two-day China-Africa forum beginning Sunday,
Shell Oil Company will pay California more than 19 million dollars because of environmental violations at service stations throughout the state, officials said Friday. The agreement, filed Friday in a California state court, requires Shell to pay 17.8 mil
China is not counting on a quick rebound in the world economy to fuel growth but will concentrate instead on boosting home-grown demand, Yao Jingyuan, chief economist at the National Bureau of Statistics, said on Saturday. The need for China and other cou
Citigroup Inc said on Friday that new accounting rules for securitisation trusts may prevent the bank from funding some of its assets with a top debt rating. The rules could lift Citigroup's borrowing costs, which have already risen since 2007 amid the fi
Monday's US three-year Treasury note auction should fetch solid demand from investors, marking a strong start for the government's record $81 billion November refunding. The Federal Reserve's pledge to keep policy rates near zero and a disappointing Octob
Monday's US three-year Treasury note auction should fetch solid demand from investors, marking a strong start for the government's record $81 billion November refunding. The Federal Reserve's pledge to keep policy rates near zero and a disappointing Octob
Indian federal bond yields inched up on Friday as further state supply announcement and higher US yields ahead of jobs data dampened sentiment. The central bank said after market hours on Thursday, it would sell 41.06 billion rupees ($879.2 million) of st
Indian federal bond yields inched up on Friday as further state supply announcement and higher US yields ahead of jobs data dampened sentiment. The central bank said after market hours on Thursday, it would sell 41.06 billion rupees ($879.2 million) of st
US corporate bond spreads were steady on Friday while stocks whipsawed after a brokerage's upgrade of General Electric Co's stock offset a poor US jobs report. Spreads in the cash market were generally steady across all sectors with only small pockets of
US corporate bond spreads were steady on Friday while stocks whipsawed after a brokerage's upgrade of General Electric Co's stock offset a poor US jobs report. Spreads in the cash market were generally steady across all sectors with only small pockets of
Toronto's main stock index ended higher for a fourth straight session on Friday as gold miners rallied on a record high bullion price, offsetting weak jobs data that fuelled worry about the economy's recovery. Shares of Barrick Gold Corp, one of the bigge
Latin American markets were only modestly hurt on Friday by a jump in the US unemployment rate, as investors resisted selling high-yielding assets on bets economic growth is accelerating in the region. US employers cut a higher-than-expected number of job
Latin American markets were only modestly hurt on Friday by a jump in the US unemployment rate, as investors resisted selling high-yielding assets on bets economic growth is accelerating in the region. US employers cut a higher-than-expected number of job
South Korean government bond prices were mixed on Friday, with a steady near-term interest rate outlook lifting short-dated paper ahead of the central bank's rate review next week whereas longer-term bonds fell. The one-year Treasury bond yield fell 1 bas
South Korean government bond prices were mixed on Friday, with a steady near-term interest rate outlook lifting short-dated paper ahead of the central bank's rate review next week whereas longer-term bonds fell. The one-year Treasury bond yield fell 1 bas
Most US Treasury debt prices rose on Friday after the government said the US unemployment rate jumped in October, but the prospect of new supply next week limited gains. Thirty-year bonds were particularly leashed, challenged by the prospect of $16 billio
Most US Treasury debt prices rose on Friday after the government said the US unemployment rate jumped in October, but the prospect of new supply next week limited gains. Thirty-year bonds were particularly leashed, challenged by the prospect of $16 billio
Canadian bond prices were straddling the break-even level across the curve on Friday as dealers opted against putting too much stock in the employment data, which is widely considered to be a lagging indicator. "We are still at the turning point of the ec
Canadian bond prices were straddling the break-even level across the curve on Friday as dealers opted against putting too much stock in the employment data, which is widely considered to be a lagging indicator. "We are still at the turning point of the ec
Brazilian stocks posted their first loss in four sessions on Friday as investors, worried by weaker-than-expected US jobs data, showed little appetite for risk. The benchmark Bovespa index declined 0.54 percent to 64,466.13, nonetheless off the day's lows
Mexican stocks gain on Friday, while peso sank to a one-month low, hurt by concerns tax reforms passed last weekend will not be enough to stave off a downgrade of the country's debt. The IPC stock index closed up 0.45 percent to 29,868.62 after US employm
Short-term Thai government bond yields eased on Friday, boosted by central bank purchases in the secondary market, but ten-year yields hovered around 1-year highs on worried that the government may overshoot its fiscal deficit target. Two-year bonds, whic
Short-term Thai government bond yields eased on Friday, boosted by central bank purchases in the secondary market, but ten-year yields hovered around 1-year highs on worried that the government may overshoot its fiscal deficit target. Two-year bonds, whic
Chinese bill and bond yields mostly fell on Friday after a strong auction of 91-day bills by the Finance Ministry, with money market liquidity expected to remain loose in coming months. The ministry sold 15 billion yuan ($2.2 billion) of the bills at an a
Chinese bill and bond yields mostly fell on Friday after a strong auction of 91-day bills by the Finance Ministry, with money market liquidity expected to remain loose in coming months. The ministry sold 15 billion yuan ($2.2 billion) of the bills at an a
US stocks rose 3 percent for the week after ending Friday's session slightly higher, shrugging off government data showing the unemployment rate hit 10.2 percent, the highest in 26-1/2 years. General Electric Co jumped 6.2 percent to $15.33 after two anal
The dollar is likely to trade higher in the week ahead, with Friday's worse-than-expected US non-farm payrolls data for October seen as the driving force for currency markets at least until mid week. The dollar eked out a gain against most major currencie
Currency speculators decreased bets against the US dollar in the latest week to the lowest net short position in 11 weeks, according to Commodity Futures Trading Commission data released on Friday. The value of the dollar's net short position fell to $10.
The dollar and yen rose on Friday after a report showed the US unemployment rate spiked and the economy lost more jobs than expected, stoking concerns about the US economy and restoring safe-haven demand for both currencies. The news dashed hopes the rece
The Kenyan shilling is seen holding steady against the dollar in the next week to Wednesday, the Tanzanian shilling is expected to weaken and the Ugandan unit is forecast to strengthen, traders said.
The Taiwan dollar firmed for a third session on Friday to a seven-day closing high, tracking stocks and global US dollar weakness ahead of jobs data, but the central bank moved to curb gains, dealers said. The final price of T$32.509 was the currency's st
Canadian currency skidded to its lowest closing level in nearly a week on Friday, stung by US and Canadian jobs data that fell short of estimates and left investors with a reduced appetite for riskier assets. After reclaiming all of the post-jobs-data los
Ducati rider Casey Stoner maintained his excellent end of season form to clinch pole position for the Valencia Grand Prix on Saturday. The Australian, who missed three races with a mystery illness before coming back last month to win at home at Phillip Is
French top seed Marion Bartoli will face compatriot Aravane Rezai Sunday in the Bali Tournament of Champions' title clash. Top seed Bartoli survived a late fight by Japanese veteran Kimiko Date Krumm to win their semi-final 6-1, 6-3 on Saturday. Later, Re
Tout Puissant Mazembe of Democratic Republic of Congo bridged a 41-year gap on Saturday by regaining the African Champions League title. But it was a close call before a sell-out 35,000 crowd in Lubumbashi with Mazembe defeating Heartland of Nigeria 1-0 t
Belgian tennis star Kim Clijsters on Saturday slammed the "extremely harsh" sanctions imposed on compatriots Xavier Malisse and Yanina Wickmayer for missing drug tests. US Open semi-finalist Wickmayer and Malisse were on Thursday handed one-year bans by t
Former Pakistan chief cricket selector Abdul Qadir says the national team must nurture it's up-and-coming talent if it is to be a competitive force at the 2011 World Cup. New Zealand beat Pakistan by 64 runs to level the three-match series at Abu Dhabi on
Tottenham Hotspur and London arch-rivals Chelsea put the issue of stadium naming rights on the agenda this week after both clubs revealed plans to tap the sponsorship market in their bid to compete. "It's suddenly now two (Premier League) clubs in London
Chelsea manager Carlo Ancelotti knows his first Premier League clash with Manchester United will provide the acid test of his title credentials, but he believes the champions have weaknesses that can be exploited in Sunday's summit meeting. Ancelotti's si
Italian pair Flavia Pennetta and Fracesca Schiavone cruised to straight set victories to send Italy into a 2-0 lead in the Fed Cup final against the United States on Saturday. Pennetta had no trouble seeing off Alexa Glatch 6-3, 6-1, while Schiavone was m