News Archives for Print - 2009-11-28

Aaj TV - Saturday's schedule

All timings are in PST (Pakistan Standard Time).

Published 28 Nov, 2009 12:00am

The yen hit its highest level in 14 years on the dollar on Friday before trimming gains as Japanese authorities made their presence felt by calling banks, moving one step closer to intervention to stem the yen's surge. Market sources said Japan's governme

Published 28 Nov, 2009 12:00am

Swiss franc eases

The Swiss franc dropped against the dollar on Friday, falling further from the previous day's 19-month high at which some traders had said the Swiss National Bank intervened to stem the Swiss unit's rise. Against the euro, the franc also eased a touch, bu

Published 28 Nov, 2009 12:00am

Yuan slumps in key NDFs

The yuan slumped against the dollar on Friday in key offshore non-deliverable forwards (NDFs) as the US currency rebounded sharply against a basket of six major global currencies after Dubai's debt problems emerged. Offshore benchmark one-year dollar/yuan

Published 28 Nov, 2009 12:00am

Australian dollar skids to eight-week low

The Australian dollar slumped to an eight-week low on a strong yen on Friday after choppy markets and fears that Dubai may not repay its $80 billion debt turned investors off riskier assets. The market turbulence even led investors to pare the chance of t

Published 28 Nov, 2009 12:00am

Taiwan dollar falls

The Taiwan dollar dropped on Friday to a five-day closing low on foreign fund outflows from the local stock market, which slid in response to Dubai debt woes that hurt the appeal of riskier assets and currencies. The local currency's close of T$32.345 to

Published 28 Nov, 2009 12:00am

New Zealand dollar near two-month lows

The New Zealand dollar was battered to near two-month lows on Friday, while swap rates rallied as investors turned risk averse amid mounting fears about the impact of the Dubai debt problem. The kiwi was caught up in the broader market reaction to the Dub

Published 28 Nov, 2009 12:00am

Hong Kong dollar in a tight range

The Hong Kong dollar moved in a narrow range between 7.7500 and 7.7503 against the US dollar on Friday, and some dealers said the local currency might weaken slightly in the near term as capital inflows slowed amid a falling stock market. Hong Kong stocks

Published 28 Nov, 2009 12:00am

Canadian dollar tumbles lower

Canada's dollar tumbled against the greenback on Thursday as renewed risk aversion in the wake of debt worries in Dubai shook the domestic currency of all its meaty gains from the previous session. The skid was triggered by news of debt problems in Dubai,

Published 28 Nov, 2009 12:00am

Asian currencies: peso NDFs dip on Dubai jitters

The Philippine peso and Thai baht fell on Friday as investors sold Asian stocks on concerns of the spill-over from the Dubai debt debacle, with the South Korean won leading the losses in Asian currencies. The yen hit its highest level in 14 years against

Published 28 Nov, 2009 12:00am

Mexican peso

Mexico's peso sank Thursday and stocks tumbled as news of debt problems in Dubai that could hit still weak global banks pushed investors to sell off riskier assets around the world. The peso lost 0.85 percent to 12.934 per US dollar, breaking a three-day

Published 28 Nov, 2009 12:00am

Emerging Markets: LatAm stocks sink

Latin American markets sank on Thursday as a shock move by Dubai to delay repayments at two state-run firms raised fears that defaults in the Middle East could hit global banks still recovering from the credit crisis. The cost of insuring sovereign debt i

Published 28 Nov, 2009 12:00am

Emerging Markets: LatAm stocks sink

Latin American markets sank on Thursday as a shock move by Dubai to delay repayments at two state-run firms raised fears that defaults in the Middle East could hit global banks still recovering from the credit crisis. The cost of insuring sovereign debt i

Published 28 Nov, 2009 12:00am

Tokyo stocks decline

Japan's Nikkei slid 3.2 percent to hit a 4-month closing low on Friday for a fifth straight week of losses, hurt after the yen touched a 14-year high against the dollar and debt problems surfaced in Dubai. Honda Motor Co and other exporters skidded on the

Published 28 Nov, 2009 12:00am

Seoul shares hit biggest drop

Seoul shares fell 4.7 percent on Friday, posting their lowest close in four months, as deepening concerns about Dubai's debt problems rocked financial and construction issues including KB Financial Group. The Korea Composite Stock Price Index (KOSPI) ende

Published 28 Nov, 2009 12:00am

New Zealand shares lower

New Zealand shares closed 1.05 percent lower on Friday in line with overseas bourses with investors spooked by concerns over Dubai's financial health. The benchmark NZX-50 index fell 32.88 points to 3,094.44 on turnover worth 103.9 million dollars (73.8 m

Published 28 Nov, 2009 12:00am

Serbia sells six-month Treasury-bills, yields down

Serbia on Thursday sold a full tranche of six-month treasury bills with yields slightly above central bank's benchmark interest rate. The treasury sold the entire tranche of its six-month T-bills worth 21.4 million euros at 10.59 percent, less than a perc

Published 28 Nov, 2009 12:00am

Serbia sells six-month Treasury-bills, yields down

Serbia on Thursday sold a full tranche of six-month treasury bills with yields slightly above central bank's benchmark interest rate. The treasury sold the entire tranche of its six-month T-bills worth 21.4 million euros at 10.59 percent, less than a perc

Published 28 Nov, 2009 12:00am

Philippines shares down

Philippines share prices closed 1.45 percent lower on Friday with investors spooked by debt woes of the state-run Dubai World conglomerate, dealers said. The composite index shed 44.85 points to 3,044.97, while the all shares index lost 1.0 percent or 19.

Published 28 Nov, 2009 12:00am

HSBC, StanChart drag Hong Kong, China shares to months low

Stocks in Hong Kong and Shanghai plunged on Friday, led by banks and construction issues, amid deepening concern about Dubai's debt problems and the spectre of a relapse into financial crisis. Hong Kong stocks fell more than 1,000 points to end Friday dow

Published 28 Nov, 2009 12:00am

Taiwan stocks post four-month worst fall

Taiwan stocks closed 3.21 percent lower on Friday, the worst single-day percentage fall in four months, as investors spooked by Dubai's debt woes dumped financial shares including Cathay Financial. The main TAIEX share index closed 248.25 points lower at

Published 28 Nov, 2009 12:00am

Thai share prices slip

Thai stocks fell 0.78 percent on Friday, tracking regional losses after Dubai asked for a debt repayment delay for a key state-owned firm, an analyst said. The Stock Exchange of Thailand (SET) composite index lost 5.36 points to close at 680.37 and the bl

Published 28 Nov, 2009 12:00am

Asian bond spreads widen

Asian bond spreads widened to their highest in more than four weeks on Friday as worries about Dubai's plans to restructure its debt prompted investors to sell riskier assets. The Asia ex-Japan iTraxx investment-grade index widened to 124/129 basis points

Published 28 Nov, 2009 12:00am

Asian bond spreads widen

Asian bond spreads widened to their highest in more than four weeks on Friday as worries about Dubai's plans to restructure its debt prompted investors to sell riskier assets. The Asia ex-Japan iTraxx investment-grade index widened to 124/129 basis points

Published 28 Nov, 2009 12:00am

China reaffirms pro-growth policy for 2010

China gave no sign on Friday that it was planning an early exit from its stimulus policies, pledging to stick with a pro-growth stance in 2010 to cushion the fallout of the financial crisis. A meeting of the Communist Party reaffirmed the relatively loose

Published 28 Nov, 2009 12:00am

Goldman, ABN misled investors during IPO

ABN Amro, Goldman Sachs and World Online misled investors during the 2000 initial public offering (IPO) of the Dutch Internet provider, the Dutch Supreme Court ruled on Friday. The listing of World Online in March 2000 was the biggest Dutch Internet IPO a

Published 28 Nov, 2009 12:00am

EU names leadership team to boost economy, influence

Finnish liberal Olli Rehn will oversee efforts to revive Europe's economy and France's Michel Barnier will have a vital role reforming financial services in the new European Commission unveiled on Friday. Jose Manuel Barroso, president of the European Uni

Published 28 Nov, 2009 12:00am

Eurozone sentiment rises

Rising production expectations in industry boosted economic sentiment in the eurozone by more than expected in November, data showed on Friday, indicating continued economic recovery in the fourth quarter. A monthly European Commission survey showed econo

Published 28 Nov, 2009 12:00am

No recovery for Europe retail rents till 2012

Most European retail property markets are likely to suffer from falling rents until after 2011, as a collapse in consumer demand and corporate debt issues causes severe occupier fallout, a report said on Friday. Markets such as Ireland and Hungary could s

Published 28 Nov, 2009 12:00am

Russia launches final stage of Soviet debt swap

Russia's Finance Ministry on Friday launched the final phase of the swap of outstanding Soviet commercial debt, which the sovereign wants to complete before launching a Eurobond next year. Russia, which has around $700 million of outstanding Soviet commer

Published 28 Nov, 2009 12:00am

Russia launches final stage of Soviet debt swap

Russia's Finance Ministry on Friday launched the final phase of the swap of outstanding Soviet commercial debt, which the sovereign wants to complete before launching a Eurobond next year. Russia, which has around $700 million of outstanding Soviet commer

Published 28 Nov, 2009 12:00am

BoJ checks rates, but intervention unlikely

The Bank of Japan stepped closer to currency intervention on Friday than at any time in the last five years by checking exchange rates with commercial banks as the yen rallied to a 14-year high against the dollar. Still, market sources said intervention w

Published 28 Nov, 2009 12:00am

Putin signs energy, car deals with France

Russian Prime Minister Vladimir Putin offered France's EDF a role in a major energy project at talks on Friday, while clinching Renault's support to save indebted Soviet-era car giant AvtoVAZ. A flurry of business deals were expected to be sealed after ta

Published 28 Nov, 2009 12:00am

US Black Friday draws strong traffic, less frenzy

US consumers kicked off the holiday shopping season on Friday, with a strong turnout for early-morning bargains, though many said they were being more selective about what they buy and paring back what they spend. Black Friday, the day after US Thanksgivi

Published 28 Nov, 2009 12:00am

RBS tweaks EU state aid deal

British lender Royal Bank of Scotland said it had fine-tuned a deal to win European Union approval for state aid it has received, as it called for investors to vote on its restructuring plan next month. RBS, majority state-owned after receiving a governme

Published 28 Nov, 2009 12:00am

Zimbabwe, South Africa sign investment protection deal

Zimbabwe signed an investment protection agreement with neighbouring South Africa on Friday in a bid to draw funding to fix its battered economy, but doubts remain over the security of foreign-owned assets. The Bilateral Investment Promotion and Protectio

Published 28 Nov, 2009 12:00am

Oil falls below $75

Oil prices extended their decline from the previous day to a six-week low below $75 a barrel on Friday, as nervous investors, roiled by debt problems in Dubai, pared positions and shifted to safe-haven assets.

Published 28 Nov, 2009 12:00am

Australia 2010-11 sugar output forecasts

Australia's raw sugar production could rise 6.5 percent next year as cane growers plant more acres in response to prices for the sweetener rising to multi-decade highs, Commonwealth Bank of Australia Ltd said on Friday. The country, the world's third larg

Published 28 Nov, 2009 12:00am

India won't ban cotton exports

India has no immediate plans to ban cotton exports, junior farm minister K.V. Thomas told reporters on the sidelines of a conference on Thursday. The local textile industry had sought a ban saying that local prices were rising.

Published 28 Nov, 2009 12:00am

Gold falls in Asia

Spot gold tumbled more than 2 percent on Friday after hitting an all-time high near $1,195 an ounce the previous day, as the dollar bounced from 15-month lows against major currencies and worries about debt problems in Dubai prompted investors to trim the

Published 28 Nov, 2009 12:00am

Shanghai copper falls

Shanghai copper fell nearly 3 percent on Friday, tracking London's losses in the previous session, as the debt problems in Dubai jangled the nerves of investors and a rebound in the dollar weighed. Dubai's debt woes shook the financial world and the trust

Published 28 Nov, 2009 12:00am

US wheat slides

US wheat futures dropped more than 3 percent on Friday, while corn and soybeans slid more than 2 percent each as debt problems in Dubai rattled financial markets around the world. Wheat futures, which have lost nearly 5 percent this week, came under addit

Published 28 Nov, 2009 12:00am

Tokyo rubber futures slump

Tokyo rubber futures tumbled nearly 5 percent to a one-week low on Friday, as the surging Japanese yen and falling oil prices spurred stop-loss selling, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for May delivery fell 11.9

Published 28 Nov, 2009 12:00am

Southeast Australia wheat harvest slowed by rain

Harvesting of wheat in south-eastern Australia has come to a standstill as rain keeps combine harvesters from getting into fields, raising concerns of quality downgrades. Australia's weather bureau is forecasting rain to continue this weekend, but fine we

Published 28 Nov, 2009 12:00am

China approves first strain of GMO rice output

China has approved its first strain of genetically modified rice for commercial production, two scientists involved in the approval process told Reuters on Friday, potentially easing the way for other major producers to adopt the controversial technology.

Published 28 Nov, 2009 12:00am

Poland sugar beet producers see higher yields

Poland's sugar beet producers expect a bigger average yield but smaller sugar content in the 2009/2010 campaign crop, the Polish Union of Sugar Beet growers said on Friday. The group still sees the sugar beet crop at 9 million tonnes but the sugar content

Published 28 Nov, 2009 12:00am

Poor rains to lower Mozambique 2009 sugar output

Mozambique may not achieve its targeted sugar output of 419,208 tonnes for 2009 despite recording a significant increase in production for the third quarter to end-September, a government agency said on Friday. The state-run Agricultural Promotion Centre

Published 28 Nov, 2009 12:00am

Russian gold output up 12.2 percent

Russian gold production rose 12.2 percent year-on-year in the first 10 months of 2009, mainly due to the launch of large projects in its far east, the Russian Gold Industrialists' Union said on Friday. The union, which is the main industry lobby, said in

Published 28 Nov, 2009 12:00am

South African maize output falls due to fewer plantings

Maize output in South Africa, the continent's biggest producer of the grain, fell to 12.05 million tonnes in 2008/09 due to fewer plantings, the country's Crop Estimates Committee (CEC) said on Thursday. The CEC said this year's crop comprised 6.775 milli

Published 28 Nov, 2009 12:00am

CIF Gulf bids for corn and soyabeans steady

Basis bids for corn and soyabeans shipped by barge to the US Gulf were mostly steady on Friday with lower CBOT futures slowing farmer selling. Ample supplies were keeping the pressure on soyabean basis values. Prices were underpinned by strong export dema

Published 28 Nov, 2009 12:00am

Rains to turn heavy in Brazilian coffee areas

Rain in Brazil's south-eastern coffee belt will turn much heavier in the next five days, bringing added moisture to the soil as next year's crop continues the early stages of its development. Minas Gerais, where about half the coffee in the world's top gr

Published 28 Nov, 2009 12:00am

A journey of a lifetime

The gathering at Arafat is like nothing else in the world. The congregation draws Muslims from all corners of the planet once a year, the culmination of a life-time of devotion and yearning which has no parallel, and difficult to describe in words.

Published 28 Nov, 2009 12:00am

Commonwealth leaders launch push for climate deal

Commonwealth countries representing more than a quarter of the world's population launched a diplomatic push on Friday to drum up momentum for a comprehensive UN climate deal in 10 days' time. Seeking to dispel divisions before UN climate talks in Copenha

Published 28 Nov, 2009 12:00am

KARACHI CHRONICLE: Stagnating culture of Sindh

Ceramics, textiles, embroidery, cuisine and, above all, music create the rich culture of Sindh. A sampling of all its excellence was to be had at the three-day Sindh Cultural Festival which ended last Sunday at the Expo Centre. I am not a pessimist by nat

Published 28 Nov, 2009 12:00am

Commonwealth leaders launch push for climate deal

Commonwealth countries representing more than a quarter of the world's population launched a diplomatic push on Friday to drum up momentum for a comprehensive UN climate deal in 10 days' time. Seeking to dispel divisions before UN climate talks in Copenha

Published 28 Nov, 2009 12:00am

ART FACT: Sensuous experiences of life

Inam Raja brings light to some of the exciting experiences concerning women with stunning colours used with elegancy in his recent show at Galleria 919, an amalgam of emotions and expressions disclosing a bond between the artist and the paintings. His med

Published 28 Nov, 2009 12:00am

Brown vows to block Sri Lankan bid to host moot

Britain's Prime Minister Gordon Brown Friday vowed to block Sri Lanka's bid to host the next Commonwealth meetings, citing its alleged human rights abuses in suppressing the Tamil rebellion. Brown signalled his opposition to what had been believed to be a

Published 28 Nov, 2009 12:00am

'Faith, Soul and Search'

Words falter again, hovering inadequately to express R.M. Naeem's exhibition, Faith, 'Soul and Search' at the Koel gallery. An intangible theme, like fleeting perfume, hard to pin down. Yet laden with profound meaning, layers of wisdom couched in religiou

Published 28 Nov, 2009 12:00am

Brown vows to block Sri Lankan bid to host moot

Britain's Prime Minister Gordon Brown Friday vowed to block Sri Lanka's bid to host the next Commonwealth meetings, citing its alleged human rights abuses in suppressing the Tamil rebellion. Brown signalled his opposition to what had been believed to be a

Published 28 Nov, 2009 12:00am

'Yaqeen Raizah Raizah'

'Yaqeen Raizah Raizah' is the title of the collection of poetry in Urdu and Punjabi by a "No-poet" Dr Inayatullah, an acknowledged social scientist. I categorised him as "No-poet" because as he himself informs us that after making an attempt to become a p

Published 28 Nov, 2009 12:00am

Sugar production cost jumps to Rs 55 per kg

Due to 100 percent increase in sugarcane support price by the growers and international increase in furnace oil price and 17 percent general sales tax (GST), the cost of sugar production has increased up to Rs 55 per kilogram. The cost would further incre

Published 28 Nov, 2009 12:00am

Eid-ul-Azha and children's festive mood

Here comes the holy festival of sacrifice "Eid-ul-Azha", one of the biggest feasts in the Muslim calendar. The sacrifice of animal is an obligation for every well to do Muslim. All around the world Muslims celebrate this holy festival with enthusiasm. For

Published 28 Nov, 2009 12:00am

Sugar production cost jumps to Rs 55 per kg

Due to 100 percent increase in sugarcane support price by the growers and international increase in furnace oil price and 17 percent general sales tax (GST), the cost of sugar production has increased up to Rs 55 per kilogram. The cost would further incre

Published 28 Nov, 2009 12:00am

Dealing with 'Qurbani' matters

Eid-ul-Azha is one of the biggest Islamic festivals, which is observed throughout the Muslim states. In Pakistan too, this festival is marked with great fervour and religious zeal every year. People of different walks of life get very enthusiastic about s

Published 28 Nov, 2009 12:00am

Sugar production cost jumps to Rs 55 per kg

Due to 100 percent increase in sugarcane support price by the growers and international increase in furnace oil price and 17 percent general sales tax (GST), the cost of sugar production has increased up to Rs 55 per kilogram. The cost would further incre

Published 28 Nov, 2009 12:00am

CAPITAL CULTURAL SCENE: Exposition of our cultural traditions

It is indeed a promising sign that the wave of women empowerment is getting its roots in almost all the spheres of life. The Rawalpindi Arts Council organised a beautiful exhibition of arts and crafts on November 19 at its premises. The work displayed the

Published 28 Nov, 2009 12:00am

Banks, EU leaders play down Dubai debt threat

Banks outside the Gulf played down their exposure to Dubai debt on Friday after fears of default shook global markets, and European leaders said the world economy was now strong enough to cope with the setback. Stocks from Tokyo to New York were haunted b

Published 28 Nov, 2009 12:00am

TV THOUGHTS: Let Musharraf prove his innocence: Eid in the midst of worries, anxieties

This column evidently appears on the first day of Eid-ul-Azha and the beginning of a new mood in the country. Primarily one perceives an Eid environment that will prevail, and TV viewers, despite the politics that has virtually seized their hearts and min

Published 28 Nov, 2009 12:00am

Banks, EU leaders play down Dubai debt threat

Banks outside the Gulf played down their exposure to Dubai debt on Friday after fears of default shook global markets, and European leaders said the world economy was now strong enough to cope with the setback. Stocks from Tokyo to New York were haunted b

Published 28 Nov, 2009 12:00am

BRIDGE NOTES: Not enough

More often than not in bridge a player is caught in a dilemma of making the best judgement of the distribution in his partner's hand so that he can take the best advantage of acquiring the necessary tricks required to beat the contract bid by the opponent

Published 28 Nov, 2009 12:00am

Banks, EU leaders play down Dubai debt threat

Banks outside the Gulf played down their exposure to Dubai debt on Friday after fears of default shook global markets, and European leaders said the world economy was now strong enough to cope with the setback. Stocks from Tokyo to New York were haunted b

Published 28 Nov, 2009 12:00am

MCC, PCA row over detection of missing Containers

The Directorate General of Post-Clearance Audit (PCA), Karachi, has rejected the report of the Model Customs Collectorate (MCC) (Preventive) that the mega scam of duty-free shops in Karachi had been unearthed by the collectorate. The Directorate General o

Published 28 Nov, 2009 12:00am

KCR annual revenue estimated at Rs 9.123 billion

The annual revenue earning of Karachi Circular Railway Project has been estimated as Rs 9.123 billion, with Rs 4.327 billion rail and Rs 4.8 billion non-rail revenue. Sources said that deducting Rs 2.881 billion operation and maintenance (O&M) cost, annua

Published 28 Nov, 2009 12:00am

KCR annual revenue estimated at Rs 9.123 billion

The annual revenue earning of Karachi Circular Railway Project has been estimated as Rs 9.123 billion, with Rs 4.327 billion rail and Rs 4.8 billion non-rail revenue. Sources said that deducting Rs 2.881 billion operation and maintenance (O&M) cost, annua

Published 28 Nov, 2009 12:00am

India says troubled by China-Pakistan military ties

Growing military ties between China and Pakistan are a serious concern to India, Defence Minister A.K. Antony said on Friday, in the latest display of a prickly rivalry between New Delhi and its neighbours. India worries about China's rising influence in

Published 28 Nov, 2009 12:00am

India says troubled by China-Pakistan military ties

Growing military ties between China and Pakistan are a serious concern to India, Defence Minister A.K. Antony said on Friday, in the latest display of a prickly rivalry between New Delhi and its neighbours. India worries about China's rising influence in

Published 28 Nov, 2009 12:00am

Pakistani pavilion in Shanghai Exposition: Commerce may not sanction $2.2 million additional amount

Commerce Ministry is unlikely to allocate additional $2.2 million to a Karachi-based firm, Far East Trading Company Limited (FEOTC), for establishing Pakistan Pavilion in Expo 2010 Shangai (China). This thorny issue, which involves foreign exchange, was d

Published 28 Nov, 2009 12:00am

Pakistani pavilion in Shanghai Exposition: Commerce may not sanction $2.2 million additional amount

Commerce Ministry is unlikely to allocate additional $2.2 million to a Karachi-based firm, Far East Trading Company Limited (FEOTC), for establishing Pakistan Pavilion in Expo 2010 Shangai (China). This thorny issue, which involves foreign exchange, was d

Published 28 Nov, 2009 12:00am

Pakistani pavilion in Shanghai Exposition: Commerce may not sanction $2.2 million additional amount

Commerce Ministry is unlikely to allocate additional $2.2 million to a Karachi-based firm, Far East Trading Company Limited (FEOTC), for establishing Pakistan Pavilion in Expo 2010 Shangai (China). This thorny issue, which involves foreign exchange, was d

Published 28 Nov, 2009 12:00am

Hiring former SSG men by private security company: Islamabad IGP directed to investigate

The Interior Ministry has taken serious note of the hiring of retired commandos of Pakistan Army by private security company, Inter-Risk, a Pakistani partner of the American security company DynCorp, and directed the Inspector General of Islamabad Police

Published 28 Nov, 2009 12:00am

Hiring former SSG men by private security company: Islamabad IGP directed to investigate

The Interior Ministry has taken serious note of the hiring of retired commandos of Pakistan Army by private security company, Inter-Risk, a Pakistani partner of the American security company DynCorp, and directed the Inspector General of Islamabad Police

Published 28 Nov, 2009 12:00am

Refund payment, tax collection: new electronic VAT law on the anvil

The State Bank of Pakistan (SBP), Accountant General of Pakistan (AGPR), along with the Project to Improve Financial Reporting and Auditing (Pifra), are all out for the initiation of new electronic value-added tax (VAT) refund payment system-2010 and E- p

Published 28 Nov, 2009 12:00am

Refund payment, tax collection: new electronic VAT law on the anvil

The State Bank of Pakistan (SBP), Accountant General of Pakistan (AGPR), along with the Project to Improve Financial Reporting and Auditing (Pifra), are all out for the initiation of new electronic value-added tax (VAT) refund payment system-2010 and E- p

Published 28 Nov, 2009 12:00am

Refund payment, tax collection: new electronic VAT law on the anvil

The State Bank of Pakistan (SBP), Accountant General of Pakistan (AGPR), along with the Project to Improve Financial Reporting and Auditing (Pifra), are all out for the initiation of new electronic value-added tax (VAT) refund payment system-2010 and E- p

Published 28 Nov, 2009 12:00am

Competition Ordinance re-promulgated

President Asif Ali Zardari on Friday re-promulgated the Competition Ordinance, giving protection to all decisions made by Competition Commission of Pakistan (CCP). Through Competition Ordinance 2009, all CCP decisions and orders, from February 2007 to Nov

Published 28 Nov, 2009 12:00am

Competition Ordinance re-promulgated

President Asif Ali Zardari on Friday re-promulgated the Competition Ordinance, giving protection to all decisions made by Competition Commission of Pakistan (CCP). Through Competition Ordinance 2009, all CCP decisions and orders, from February 2007 to Nov

Published 28 Nov, 2009 12:00am

Competition Ordinance re-promulgated

President Asif Ali Zardari on Friday re-promulgated the Competition Ordinance, giving protection to all decisions made by Competition Commission of Pakistan (CCP). Through Competition Ordinance 2009, all CCP decisions and orders, from February 2007 to Nov

Published 28 Nov, 2009 12:00am

Competition Ordinance re-promulgated

President Asif Ali Zardari on Friday re-promulgated the Competition Ordinance, giving protection to all decisions made by Competition Commission of Pakistan (CCP). Through Competition Ordinance 2009, all CCP decisions and orders, from February 2007 to Nov

Published 28 Nov, 2009 12:00am

MCC, PCA row over detection of missing Containers

The Directorate General of Post-Clearance Audit (PCA), Karachi, has rejected the report of the Model Customs Collectorate (MCC) (Preventive) that the mega scam of duty-free shops in Karachi had been unearthed by the collectorate. The Directorate General o

Published 28 Nov, 2009 12:00am

Make public a list of lands, loans beneficiaries like NRO: Nawaz

Pakistan Muslim League (Nawaz) Quaid Muhammad Nawaz Sharif on Friday stressed the need for taking necessary steps to improve country's economy, besides making public the lists of lands and loans beneficiaries like the NRO beneficiaries. Talking to mediame

Published 28 Nov, 2009 12:00am

Eid celebrated in UK, Europe and Gulf states

Eid-ul-Azha was celebrated in Britain, Europe and Gulf states including Saudi Arabia with religious fervour. Over two million Hajj pilgrims offered Eid prayers in Saudi Arabia, reported a private TV news channel. At Mina, the pilgrims performed Ramy al-Ja

Published 28 Nov, 2009 12:00am

Eid celebrated in UK, Europe and Gulf states

Eid-ul-Azha was celebrated in Britain, Europe and Gulf states including Saudi Arabia with religious fervour. Over two million Hajj pilgrims offered Eid prayers in Saudi Arabia, reported a private TV news channel. At Mina, the pilgrims performed Ramy al-Ja

Published 28 Nov, 2009 12:00am

Four RPPs to be operational by year-end: Pepco

Four Rental Power Plants (RPPs) with about 600 MW power generation capacity would be operational by the year-end. Director General Pakistan Electric Power Company (Pepco), Mohammad Khalid, told Busiiness Recorder here on Friday. It would be followed by ad

Published 28 Nov, 2009 12:00am

Gold down Rs 850 per tola

Gold prices on Friday slumped by Rs 850 per tola to Rs 37200 after they fell in the global gold market by $20 an ounce, traders said. Ten gram gold price plunged by Rs 687 to Rs 31885 in single-day trading. On the global market, gold price reduced to $116

Published 28 Nov, 2009 12:00am

Gold down Rs 850 per tola

Gold prices on Friday slumped by Rs 850 per tola to Rs 37200 after they fell in the global gold market by $20 an ounce, traders said. Ten gram gold price plunged by Rs 687 to Rs 31885 in single-day trading. On the global market, gold price reduced to $116

Published 28 Nov, 2009 12:00am

Gold down Rs 850 per tola

Gold prices on Friday slumped by Rs 850 per tola to Rs 37200 after they fell in the global gold market by $20 an ounce, traders said. Ten gram gold price plunged by Rs 687 to Rs 31885 in single-day trading. On the global market, gold price reduced to $116

Published 28 Nov, 2009 12:00am

German minister quits over Afghan strike

Germany's former defence minister Franz Josef Jung quit the cabinet on Friday over a deadly bombing in Afghanistan, the day after claims of a cover-up took the scalp of the country's top general. Jung resigned as labour minister shortly after refusing to

Published 28 Nov, 2009 12:00am

German minister quits over Afghan strike

Germany's former defence minister Franz Josef Jung quit the cabinet on Friday over a deadly bombing in Afghanistan, the day after claims of a cover-up took the scalp of the country's top general. Jung resigned as labour minister shortly after refusing to

Published 28 Nov, 2009 12:00am

World Bank approves $500 million for Serb budgets

The World Bank agreed with Serbia on Friday a $500 million loan to back its 2009 and 2010 budgets, and the money will be disbursed right after parliament ratifies the loans. The funds comprise $200 million in budget support for 2009 and $300 million for S

Published 28 Nov, 2009 12:00am

Iran seizes Ebadi assets, Nobel medal

Iran has frozen bank accounts belonging to rights activist Shirin Ebadi and confiscated her Nobel Peace Prize medal in a bid to pressure the critic of the Islamic regime, colleagues said on Friday. Ebadi, who won the prize in 2003 for her outspoken democr

Published 28 Nov, 2009 12:00am

Currency	Rate
USD PKR Interbank Selling / Apr 11	280.53
USD PKR Interbank Buying / Apr 11	280.28
USD to Japanese Yen / Apr 11	143.54
USD to Swiss Franc / Apr 11	0.81
Pound Sterling to USD / Apr 11	1.31
Euro to USD / Apr 11	1.14
UK LIBOR % / Apr 11	4.96

Stock	Volume
S&P 500 / Apr 11	5,363.36
India Sensex / Apr 11	75,157.26
Tokyo Nikkei / Apr 11	33,585.58
Nasdaq / Apr 11	16,724.46
Hang Seng / Apr 11	20,914.69
FTSE 100 / Apr 11	7,964.18
Dow Jones / Apr 11	40,212.71
Germany DAX 30 / Apr 11	20,374.10
France CAC40 / Apr 11	7,104.80

Item	Value
Crude Oil USD/Barrel / Apr 11	61.50
Karachi Cotton PKR/37.32 KG / Apr 11	16,785
Gold 10 Grams PKR / Apr 11	290,466
Gold Spot USD/Ounce / Apr 11	3,237.61
Cotton US¢/pound / Apr 11	67.01
Petrol/Litre / Apr 12	254.63
Diesel/Litre / Apr 12	258.64

Stock	Price
Pak Agro Pack. (GEM) / Apr 11 Pak Agro Packaging Limited (GEM)(GEMPAPL)	8.85 ▲ 1 (12.74%)
Ruby Textile / Apr 11 Ruby Textile Mills Limited(RUBY)	7 ▲ 0.7 (11.11%)
Bawany Air Products / Apr 11 Bawany Air Products Limited(BAPL)	28.91 ▲ 2.63 (10.01%)
Calcorp Ltd / Apr 11 Calcorp Limited(CASH)	37.24 ▲ 3.39 (10.01%)
PIA Holding Co.B / Apr 11 PIA Holding Company Limited B(PIAHCLB)	1,329.45 ▲ 120.86 (10%)
ZIL Limited / Apr 11 ZIL Limited(ZIL)	295.72 ▲ 26.88 (10%)
Jubile Life InsXD / Apr 11 Jubilee Life Insurance Company Limited(JLICL)	152.56 ▲ 13.87 (10%)
Diamond Ind. / Apr 11 Diamond Industries Limited(DIIL)	35.20 ▲ 3.2 (10%)
Parmount Sp. / Apr 11 Paramount Spinning Mills Limited(PASM)	4.18 ▲ 0.38 (10%)
Hoechst Pak. / Apr 11 Hoechst Pakistan Limited(HPL)	3,519 ▲ 319 (9.97%)

Stock	Price
Oilboy Energy(R) / Apr 11 Oilboy Energy Limited(R)(OBOYR2)	1.84 ▼ -0.41 (-18.22%)
First Elite Cap.Mod / Apr 11 First Elite Capital Modaraba(FECM)	17.53 ▼ -1.95 (-10.01%)
National Silk / Apr 11 The National Silk & Rayon Mills Limited(NSRM)	30.75 ▼ -3.25 (-9.56%)
Universal Ins. / Apr 11 The Universal Insurance Company Limited(UVIC)	9 ▼ -0.85 (-8.63%)
Noon Sugar / Apr 11 Noon Sugar Mills Limited(NONS)	71.10 ▼ -6.61 (-8.51%)
Masood Textile / Apr 11 Masood Textile Mills Limited(MSOT)	52 ▼ -4.8 (-8.45%)
Leather Up Ltd. / Apr 11 Leather Up Limited(LEUL)	26 ▼ -2.29 (-8.09%)
Nimir Resins / Apr 11 Nimir Resins Limited(NRSL)	32.50 ▼ -2.85 (-8.06%)
Chashma / Apr 11 Chashma Sugar Mills Limited(CHAS)	59.02 ▼ -4.97 (-7.77%)
EFU General / Apr 11 EFU General Insurance Limited(EFUG)	116 ▼ -8.45 (-6.79%)

Stock	Volume
Cnergyico PK / Apr 11 Cnergyico PK Limited(CNERGY)	86,573,180 ▼ -0.07
K-Electric Ltd. / Apr 11 K-Electric Limited(KEL)	57,922,646 ▲ 0.02
Sui South Gas / Apr 11 Sui Southern Gas Company Limited(SSGC)	44,734,661 ▲ 0.52
Pak Elektron / Apr 11 Pak Elektron Limited(PAEL)	40,461,763 ▲ 2.13
Pak Int.Bulk / Apr 11 Pakistan International Bulk Terminal(PIBTL)	37,973,873 ▼ -0.34
B.O.Punjab / Apr 11 The Bank of Punjab(BOP)	33,069,655 ▲ 0.54
Citi Pharma Ltd / Apr 11 Citi Pharma Limited(CPHL)	25,314,966 ▲ 2.71
Maple Leaf Cement / Apr 11 Maple Leaf Cement Factory Limited(MLCF)	21,075,820 ▲ 0.24
Fauji Cement / Apr 11 Fauji Cement Company Limited(FCCL)	19,242,425 ▼ -0.65
WorldCall Telecom / Apr 11 Worldcall Telecom Limited(WTL)	16,890,477 ▼ -0.01

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