News Archives for Print - 2009-12-25

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (December 24, 2009).

Published 25 Dec, 2009 12:00am

No intention to raise standard rate of GST: FBR

The Federal Board of Revenue has no intention to raise standard rate of general sales tax (GST) from 16 to 17 percent under the additional revenue generations measures to be taken in January 2010. Sources told Business Recorder here on Thursday the

Published 25 Dec, 2009 12:00am

Barclays bid rates and maximum rates for payment of interest

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

Published 25 Dec, 2009 12:00am

No intention to raise standard rate of GST: FBR

The Federal Board of Revenue has no intention to raise standard rate of general sales tax (GST) from 16 to 17 percent under the additional revenue generations measures to be taken in January 2010. Sources told Business Recorder here on Thursday the

Published 25 Dec, 2009 12:00am

State Bank of Pakistan conversion rates

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

Published 25 Dec, 2009 12:00am

India-Afghan trade through Wagah: US agrees not to press Pakistan: MoC

The Ministry of Commerce (MoC) has claimed that Washington has agreed not to press Islamabad for a land transit route from New Delhi to Afghanistan, after discussions between the Obama administration and the Zardari government.

Published 25 Dec, 2009 12:00am

Karachi interbank rates

Karachi interbank rates on Thursday (December 24, 2009).

Published 25 Dec, 2009 12:00am

India-Afghan trade through Wagah: US agrees not to press Pakistan: MoC

The Ministry of Commerce (MoC) has claimed that Washington has agreed not to press Islamabad for a land transit route from New Delhi to Afghanistan, after discussions between the Obama administration and the Zardari government.

Published 25 Dec, 2009 12:00am

New York cotton

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

Published 25 Dec, 2009 12:00am

India-Afghan trade through Wagah: US agrees not to press Pakistan: MoC

The Ministry of Commerce (MoC) has claimed that Washington has agreed not to press Islamabad for a land transit route from New Delhi to Afghanistan, after discussions between the Obama administration and the Zardari government.

Published 25 Dec, 2009 12:00am

New York cotton

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

Published 25 Dec, 2009 12:00am

PSM corruption case: Supreme Court rejects Malik's request for verbal explanation

The Supreme Court on Thursday rejected Interior Minister Rehman Malik's request to verbally give explanation that he had not committed contempt by setting up a joint investigation team to probe into Rs 22 billion loss incurred by Pakistan Steel Mills (PSM

Published 25 Dec, 2009 12:00am

Aaj TV - Friday's schedule

All timings are in PST (Pakistan Standard Time).

Published 25 Dec, 2009 12:00am

PSM corruption case: Supreme Court rejects Malik's request for verbal explanation

The Supreme Court on Thursday rejected Interior Minister Rehman Malik's request to verbally give explanation that he had not committed contempt by setting up a joint investigation team to probe into Rs 22 billion loss incurred by Pakistan Steel Mills (PSM

Published 25 Dec, 2009 12:00am

The 133rd birth anniversary of Jinnah

The Pakistani nation is today celebrating the 133rd birth anniversary of Muhammad Ali Jinnah, the founding father of Pakistan, born on December 25, 1876 in Karachi. As a child, he was quite serious, kept his hands, dress and books very tidy and expected h

Published 25 Dec, 2009 12:00am

Suicide bomber kills five in Peshawar

At least five people including a policeman were killed while 24 others were injured in a suicide bomb blast in the Cantonment area. The blast occurred at about 10:45 resulted in the smashing of the windowpanes of all buildings in the area and nearby parke

Published 25 Dec, 2009 12:00am

Jinnah: charisma and leadership

Major history-making political movements have three common features. First, a consensus-issue that becomes the focal point of the movement. This consensus-issue is the product of the political process and consensus develops over time. Second, the role of

Published 25 Dec, 2009 12:00am

Suicide bomber kills five in Peshawar

At least five people including a policeman were killed while 24 others were injured in a suicide bomb blast in the Cantonment area. The blast occurred at about 10:45 resulted in the smashing of the windowpanes of all buildings in the area and nearby parke

Published 25 Dec, 2009 12:00am

Nation needs Pakistan as envisioned by the Quaid

The nation, is celebrating today the birthday of its Father, Quaid-i-Azam Muhammad Ali Jinnah, to pay well-deserved tributes to him for his selfless services for the just cause of the South Asian Muslims and deploying his prodigious political and legal ac

Published 25 Dec, 2009 12:00am

US Senate approves landmark healthcare overhaul

The US Senate approved President Barack Obama's landmark healthcare overhaul on Thursday, backing sweeping changes in the medical insurance market and new coverage for tens of millions of uninsured Americans. On a party-line 60-39 vote, Senate Democrats s

Published 25 Dec, 2009 12:00am

Sri Lanka's November tea output up

Sri Lankan tea output rose 13.9 percent on the year in November on suitable weather conditions and better fertiliser application, Sri Lanka Tea Board said on Wednesday. Tea output rose to 28.29 million kg from 24.83 million kg in November 2008.

Published 25 Dec, 2009 12:00am

US Senate approves landmark healthcare overhaul

The US Senate approved President Barack Obama's landmark healthcare overhaul on Thursday, backing sweeping changes in the medical insurance market and new coverage for tens of millions of uninsured Americans. On a party-line 60-39 vote, Senate Democrats s

Published 25 Dec, 2009 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 122,446 tonnes of cargo including 83,888 tonnes of import and 38,558 tonnes of export cargo during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 83,888 tonnes comprised 26,698 of tonnes of dry cargo incl

Published 25 Dec, 2009 12:00am

Deadly storm snarls holiday travel in central US

A deadly winter storm snarled holiday travel across the central United States Thursday as freezing rain and heavy snow caused traffic chaos and grounded hundreds of flights. At least 18 deaths on the roadways were attributed to the nasty storm which arriv

Published 25 Dec, 2009 12:00am

US Midwest corn and soya bids steady to higher

Corn and soyabean spot basis bids were steady to higher around the US Midwest on Wednesday amid slow country movement of both crops, dealers said. Farmer selling was nearly non-existent even as futures rose at the Chicago Board of Trade, with farmers stay

Published 25 Dec, 2009 12:00am

Deadly storm snarls holiday travel in central US

A deadly winter storm snarled holiday travel across the central United States Thursday as freezing rain and heavy snow caused traffic chaos and grounded hundreds of flights. At least 18 deaths on the roadways were attributed to the nasty storm which arriv

Published 25 Dec, 2009 12:00am

Gur, kandsari turn higher on grain market

Business was seen at low level on the wholesale grain and seed market on Thursday as many buyers were sidelined ahead of holiday on account of Quaid-e-Azam's birth anniversary, dealers said. On the cereals side gur low type gained Rs 100 to Rs 5400 and be

Published 25 Dec, 2009 12:00am

Islamic banks post remarkable growth in third quarter

The Islamic Banking Institutions (IBIs) have posted remarkable growth as compared to conventional banking and maintained their profitability with growth in assets and deposits during the third quarter ended September 30, 2009.

Published 25 Dec, 2009 12:00am

Ceylon raw rubber moves both ways on Jodia Bazar

The trading in Ceylon raw rubber moved both ways on Jodia Bazar here on Thursday. The following variations were noted.

Published 25 Dec, 2009 12:00am

Islamic banks post remarkable growth in third quarter

The Islamic Banking Institutions (IBIs) have posted remarkable growth as compared to conventional banking and maintained their profitability with growth in assets and deposits during the third quarter ended September 30, 2009.

Published 25 Dec, 2009 12:00am

US Plains HRW wheat bids steady

Hard red winter wheat basis bids held steady in the US Plains on Thursday in slow trade ahead of Christmas on Friday when markets will be closed. Traders said snow in the region was limiting grain movement by trucks amid icy roads. But the snow was benefi

Published 25 Dec, 2009 12:00am

Islamic banks post remarkable growth in third quarter

The Islamic Banking Institutions (IBIs) have posted remarkable growth as compared to conventional banking and maintained their profitability with growth in assets and deposits during the third quarter ended September 30, 2009.

Published 25 Dec, 2009 12:00am

FOB Gulf corn, soya and wheat quietly steady

US corn, soyabean and wheat export premiums at the Gulf of Mexico were quietly steady on Wednesday in subdued dealings ahead of this week's Christmas holiday, traders said. Basis offers were unquoted for December, January and at least the first half of Fe

Published 25 Dec, 2009 12:00am

Chavez threatens to expel carmaker Toyota

Venezuela''s President Hugo Chavez has threatened to expel Japanese carmaker Toyota unless it produces an all-terrain model of 4x4 vehicles used for public transportation in poor and rural areas. The fiery socialist, in a speech late on Wednesday, also sa

Published 25 Dec, 2009 12:00am

Brazil's cocoa arrivals down slightly

Brazil's 2009/10 (May/April) cocoa arrivals including imports came to 2.83 million 60-kg bags by December 20, down 0.7 percent from this time last year, Bahia Commercial Association said. Deliveries were barely changed from this week last year in the main

Published 25 Dec, 2009 12:00am

Chavez threatens to expel carmaker Toyota

Venezuela's President Hugo Chavez has threatened to expel Japanese carmaker Toyota unless it produces an all-terrain model of 4x4 vehicles used for public transportation in poor and rural areas. The fiery socialist, in a speech late on Wednesday, also sai

Published 25 Dec, 2009 12:00am

Oil cake market rates

Divergent trend was again witnessed on the forward cottonseed oilcake market on Thursday in process of trading, dealers said. The December vaida was matured at 902.10 and the new March vaida opened at Rs 950.00. The January contract which ended at Rs 963.

Published 25 Dec, 2009 12:00am

Chavez threatens to expel carmaker Toyota

Venezuela's President Hugo Chavez has threatened to expel Japanese carmaker Toyota unless it produces an all-terrain model of 4x4 vehicles used for public transportation in poor and rural areas. The fiery socialist, in a speech late on Wednesday, also sai

Published 25 Dec, 2009 12:00am

Steady conditions prevail on cotton market

Firmness prevailed on the cotton market on Thursday as mills were sidelined to observe the development after abolition of five percent duty on imports of cotton yarn, dealers said. The official spot rate was unchanged at Rs 4,375 ahead of holiday on Frida

Published 25 Dec, 2009 12:00am

NSS Bonds IPO soon

The Initial Public Offering (IPO) of National Savings Bonds is expected to be announced very soon, it is learnt. The National Savings Bonds would be the country''''s first tradable bonds at the stock exchanges. The bonds would be issued for the period of

Published 25 Dec, 2009 12:00am

Kenya's November tea ouput rises

Kenya produced 4 percent more tea in the month of November compared to the same month last year, the Tea Board of Kenya said on Wednesday. Total output was 35.8 million kilogram (kg), 9 percent higher than in October, the board said in a statement.

Published 25 Dec, 2009 12:00am

NSS Bonds IPO soon

The Initial Public Offering (IPO) of National Savings Bonds is expected to be announced very soon, it is learnt. The National Savings Bonds would be the country''s first tradable bonds at the stock exchanges. The bonds would be issued for the period of 3,

Published 25 Dec, 2009 12:00am

Cotton prices well maintained at peak levels

With the approaching of an extended weekend when Friday (Quaid-e-Azam Birthday and Christmas) and next Monday (Ashura) are public holidays, and also closeness to the end of the calendar year, domestic lint prices continued to maintain peak levels being hi

Published 25 Dec, 2009 12:00am

NSS Bonds IPO soon

The Initial Public Offering (IPO) of National Savings Bonds is expected to be announced very soon, it is learnt. The National Savings Bonds would be the country's first tradable bonds at the stock exchanges. The bonds would be issued for the period of 3,

Published 25 Dec, 2009 12:00am

Cotton prices well maintained at peak levels

With the approaching of an extended weekend when Friday (Quaid-e-Azam Birthday and Christmas) and next Monday (Ashura) are public holidays, and also closeness to the end of the calendar year, domestic lint prices continued to maintain peak levels being hi

Published 25 Dec, 2009 12:00am

NSS Bonds IPO soon

The Initial Public Offering (IPO) of National Savings Bonds is expected to be announced very soon, it is learnt. The National Savings Bonds would be the country's first tradable bonds at the stock exchanges. The bonds would be issued for the period of 3,

Published 25 Dec, 2009 12:00am

US copper strong

Copper prices rallied to one-week highs on Wednesday, with values in London hurdling back up above the $7,000 per tonne level in late business as the dollar weakened and supply threats mounted at one of the world's top copper mines. Benchmark copper for M

Published 25 Dec, 2009 12:00am

Indian committee recommends autonomy for IoK

High-level advisers appointed by Indian Prime Minister Manmohan Singh are recommending autonomy for occupied Kashmir, where mujahideen have fought for 20 years against rule from New Delhi. Under its accession to India in 1947 upon the country's independen

Published 25 Dec, 2009 12:00am

Shanghai copper at 15-month peak in Asia

Shanghai copper rose nearly 3 percent on Thursday to a 15-month high after London futures extended a 1.7 percent rally in the previous session, buoyed by supply concerns and the dollar's first decline in five sessions.

Published 25 Dec, 2009 12:00am

Indian committee recommends autonomy for IoK

High-level advisers appointed by Indian Prime Minister Manmohan Singh are recommending autonomy for occupied Kashmir, where mujahideen have fought for 20 years against rule from New Delhi. Under its accession to India in 1947 upon the country's independen

Published 25 Dec, 2009 12:00am

South Korea buys rice

South Korea has bought 3,510 tonnes of non-glutinous milled rice for June 30, 2010 arrival from Daewoo International America Corp, state-run Korea Agro-Fisheries Trade Corp said on Thursday. In a tender closed on December 18, the agency bought the grain f

Published 25 Dec, 2009 12:00am

Zardari vows to face non-issues

President Asif Ali Zardari asserted on Thursday that the government will take all the decisions according to the Constitution of Pakistan.

Published 25 Dec, 2009 12:00am

Ivory Coast cocoa prices jump

Cocoa farmgate prices in Ivory Coast's growing regions rose last week, as several grinders tried to reach their buying targets ahead of the year end, farmers and buyers said on Thursday. Port and farmgate prices can be an indicator of volumes and cocoa be

Published 25 Dec, 2009 12:00am

Zardari vows to face non-issues

President Asif Ali Zardari asserted on Thursday that the government will take all the decisions according to the Constitution of Pakistan.

Published 25 Dec, 2009 12:00am

Tokyo rubber futures hit 15-month highs

Tokyo rubber futures hit 15 month highs on Thursday on the back of firm oil prices but profit-taking trimmed gains, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange ended up 5.1 yen, or 1.9 percent, at 274.9 yen ($3) per kg, eas

Published 25 Dec, 2009 12:00am

Restoration of judges: Prime Minister gives no credit to army chief

Prime Minister Syed Yousuf Raza Gilani said on Thursday that the 17th amendment would be repealed and its annulment would be "a feather in the cap of Pakistan People's Party and its government." Prime minister further asserted it was his decision alone to

Published 25 Dec, 2009 12:00am

US soya steadies

US soyabean futures on the Chicago Board of Trade rose 1 percent on Wednesday, rebounding from a five-week low in the previous session as a weaker dollar overshadowed concerns about a large South American crop. "This trade is a knee-jerk reaction to the d

Published 25 Dec, 2009 12:00am

Restoration of judges: Prime Minister gives no credit to army chief

Prime Minister Syed Yousuf Raza Gilani said on Thursday that the 17th amendment would be repealed and its annulment would be "a feather in the cap of Pakistan People's Party and its government." Prime minister further asserted it was his decision alone to

Published 25 Dec, 2009 12:00am

Malaysian palm oil jumps

Malaysian crude palm oil futures jumped 2.2 percent on Thursday, after three consecutive days of declines, as higher crude oil prices and a weaker US dollar lifted the market. The benchmark March contract on the Bursa Malaysia Derivatives Exchange settled

Published 25 Dec, 2009 12:00am

Girl, bomber killed in Rawalpindi blast

Police on Thursday night foiled an attempt of suicide attack on a "Muharram Majlis" (mourning gathering) at the shrine of Saeen Buta, situated in Shakrial, the area bordering Islamabad and Rawalpindi at Islamabad Expressway. The suicide bomber failed to e

Published 25 Dec, 2009 12:00am

Malaysian tin rises

Malaysian tin ended 0.6 percent higher on Thursday due to a sharp increase in London Metal Exchange (LME) prices and strong demand from Europe one day before long Christmas holidays, one trader said.

Published 25 Dec, 2009 12:00am

Girl, bomber killed in Rawalpindi blast

Police on Thursday night foiled an attempt of suicide attack on a "Muharram Majlis" (mourning gathering) at the shrine of Saeen Buta, situated in Shakrial, the area bordering Islamabad and Rawalpindi at Islamabad Expressway. The suicide bomber failed to e

Published 25 Dec, 2009 12:00am

Oil up above $77 in Asia

Oil rose above $77 on Thursday, after surging more than 3 percent the previous day, lifted by a deeper-than-forecast drop in crude and fuel stocks in the world's top energy consumer and as the dollar paused. The dollar's recent rally stalled on news of a

Published 25 Dec, 2009 12:00am

US gold gains

New York gold futures broke out of a tiny range to trade higher on Wednesday after new US home sales came in much weaker than forecast for November, pressuring the dollar against the euro and yen, traders said. Gold futures for February delivery on the CO

Published 25 Dec, 2009 12:00am

Gold inches up

Gold prices inched up to $1,100 per ounce on Thursday as a recent drop to seven-week lows spurred some bargain hunting in a holiday-thinned market. Traders said the market was in a downtrend in the near-term, but that buying from Asian investors in the di

Published 25 Dec, 2009 12:00am

Sanyo in talks to sell EV, motorbike batteries

Japan's Sanyo Electric Co Ltd is in talks with two major automakers to supply lithium-ion batteries as it moves to secure growth beyond the era of gasoline-electric hybrid vehicles. "Two car makers are looking into our lithium-ion batteries for electric v

Published 25 Dec, 2009 12:00am

Taiwan central bank keeps rates steady

Taiwan's central bank kept its key rate at a record low of 1.25 percent on Thursday and cemented expectations it would stay on hold well into 2010 by noting a lack of inflationary pressure and moderate pace of growth. Central Bank Governor Perng Fai-nan t

Published 25 Dec, 2009 12:00am

China to deliver promised stimulus by end of 2010

The Chinese government will deliver on its commitment to spend 1.18 trillion yuan ($173 billion) before the end of 2010, the core of the country's stimulus package, a deputy finance minister said on Thursday. The central government has pledged that amount

Published 25 Dec, 2009 12:00am

Debt limit hike wins final US Congress approval

A divided US Senate gave final congressional approval on Thursday to a $290 billion hike in the federal debt limit, enough to finance the record US deficit for another two months while the United States digs out from the worst recession since the 1930s.

Published 25 Dec, 2009 12:00am

New Russia ESPO crude could be game changer in Asia

Russia's ESPO Blend crude is just starting to hit the market, but as output ramps up it is expected to change the rules of the oil game in Asia at the expense of Middle East rivals. Exports of the diesel-rich, medium-heavy sweet grade could rise to 600,00

Published 25 Dec, 2009 12:00am

Twitter buys geolocation startup Mixer Laboratories

Twitter not only wants to know what you're doing it wants to know where you are. The micro-blogging service announced Wednesday that it has purchased Mixer Labs, a California-based start-up that builds location-tracking tools. "We want to know What's happ

Published 25 Dec, 2009 12:00am

Iran's foreign assets fell $10 billion in year to August

Iran's foreign assets stood at nearly $78 billion by the end of August, down by about $10 billion from a year earlier, according to central bank figures published by an Iranian newspaper on Thursday. English-language Tehran Times did not give any reason b

Published 25 Dec, 2009 12:00am

Indonesia sees foreign investment up 15 percent in 2010

Indonesia's foreign direct investment is set to rebound 15 percent in 2010 on a global economic recovery after dropping 28 percent this year to just below $10 billion, the state investment agency (BKPM) said. Policy makers in Southeast Asia's biggest econ

Published 25 Dec, 2009 12:00am

Russia backs off threat to block US poultry: trade group

Russian officials will not enforce measures that could have blocked US poultry exports as of December 31 due to Russian concerns about the use of chlorine in US plants, a US trade group said on Wednesday. The decision by Russia, the top US poultry market,

Published 25 Dec, 2009 12:00am

Indian food prices stoke inflation concerns

Indian food prices moderated slightly but still rose nearly 19 percent annually in mid-December, and a central bank deputy said food inflation could drive headline inflation as growth picks up and capacity constraints emerge.

Published 25 Dec, 2009 12:00am

Japanese buy Mexico power plants for $1.2 billion

Japan's Mitsui and Tokyo Gas is buying five power stations in Mexico for more than 1.2 billion dollars (834 million euros) from Spain's Gas Natural, the two companies said Thursday. "Gas Natural today signed an agreement with the companies Mitsui & Co and

Published 25 Dec, 2009 12:00am

Singapore manufacturing falls most in eight months

Singapore's manufacturing fell the most in eight months in November as output of pharmaceuticals plunged by more than half. Industrial production dropped 8.2 percent from a year earlier following a 3.2 percent increase in October, the Trade and Industry M

Published 25 Dec, 2009 12:00am

Citigroup repays $20 billion to US

Citigroup Inc repaid $20 billion to the United States, as the bank works to reduce government involvement in its compensation practices. The bank sold $17 billion in common shares and $3.5 billion in convertible notes to help raise capital to repay the go

Published 25 Dec, 2009 12:00am

First section of Siberian pipeline opens on Monday

The first section of the Siberian-Pacific oil pipeline will enter service on Monday, part of a network that will ultimately carry crude to China, the head of Russian oil group Transneft said Thursday. "The pipeline will become operational on December 28,"

Published 25 Dec, 2009 12:00am

Russia's post-crisis revival to be slow: Medvedev

Russia's exit from the economic crisis will be slow and the world's biggest energy exporter will remain extremely vulnerable unless it can kick its dependence on oil and gas sales, President Dmitry Medvedev said on Thursday. In an end-of-year television i

Published 25 Dec, 2009 12:00am

Saab to shut as GM won't consider Spyker bid

US auto giant General Motors will not consider Dutch sportscar maker Spyker's renewed bid for Saab and is planning to shut down the Swedish brand, a Swedish newspaper reported Wednesday. "Saab's board had a short meeting yesterday. GM representatives were

Published 25 Dec, 2009 12:00am

Obama 'entirely dissatisfied' with rate

US President Barack Obama said Wednesday he is "entirely dissatisfied" with the level of US unemployment and cannot congratulate himself on his first year in office because the jobless rate is so high. "I am entirely dissatisfied with where we are right n

Published 25 Dec, 2009 12:00am

New US jobless claims unexpectedly fall to 452,000

The number of newly laid-off Americans filing claims for unemployment benefits fell more than expected last week as the labour market continued its fitful recovery. The Labour Department said Thursday the number of new jobless claims fell to a 452,000 las

Published 25 Dec, 2009 12:00am

India's air passenger market seen set for fastest global growth

India's airline passenger market could emerge as the world's fastest growing, an aviation consultancy said Thursday, as it forecast the nation's private carriers would return to profit next year. "India could be the strongest growth market in terms of pas

Published 25 Dec, 2009 12:00am

South Korea approves massive LCD investment in China

South Korea on Thursday approved plans for massive investment in China by two leading display panel makers, paving the way for them to expand their presence in the rapidly growing market. A government committee headed by Prime Minister Chung Un-Chan gave

Published 25 Dec, 2009 12:00am

Kuwait parliament gives initial nod for debt bailout

Kuwait's parliament gave initial approval for a massive bailout of indebted citizens worth up to 6.7 billion dinars ($23.39 billion), which the government opposes as too costly, state news agency KUNA said on Thursday. Finance Minister Mustapha Shamali, s

Published 25 Dec, 2009 12:00am

Kuwait parliament gives initial nod for debt bailout

Kuwait's parliament gave initial approval for a massive bailout of indebted citizens worth up to 6.7 billion dinars ($23.39 billion), which the government opposes as too costly, state news agency KUNA said on Thursday. Finance Minister Mustapha Shamali, s

Published 25 Dec, 2009 12:00am

Japan to cut spending plan, may prompt BOJ response

Japan's government is likely to cut spending plans pledged in its election campaign as it scrambles to keep next year's budget under control, putting more burden on the central bank to avert a deflation-led downturn next year. Bank of Japan Governor Masaa

Published 25 Dec, 2009 12:00am

Obama ends trade benefits for Guinea, Madagascar, Niger

President Barack Obama said on Wednesday he has terminated trade benefits for Guinea, Madagascar and Niger, three African countries where democratic progress is threatened by political turmoil. In a statement, Obama said the three countries had failed to

Published 25 Dec, 2009 12:00am

Iraq initials deal for Badrah oilfield

Iraq's Oil Ministry initialled a deal on Thursday with a group led by Russia's Gazprom to develop its eastern Badrah oilfield. Gazprom is partnering with Turkey's TPAO, Korea's Kogas and Malaysia's Petronas for the field, which is near Iraq's border with

Published 25 Dec, 2009 12:00am

Hyundai Motor avoids strike for first time in 15 years

Hyundai Motor Co's union is set to forgo a strike for the first time in 15 years with its approval of a wage deal with management, company and union officials said Thursday. Under the plan, next year's wages for union workers at South Korea's largest auto

Published 25 Dec, 2009 12:00am

US approves million-dollar pay for Fannie, Freddie executives

US officials Thursday unveiled pay packages for top executives at bailed-out housing finance giants Fannie Mae and Freddie Mac worth as much as six million dollars in a new step back from a clampdown on executive compensation.

Published 25 Dec, 2009 12:00am

Seoul shares rise 1.3 percent

Seoul shares advanced on Thursday fuelled by technology and crude refining issues including SK Energy, while a rebound in banks following their recent losses lent markets further support. The Korea Composite Stock Price Index (KOSPI) finished up 1.26 perc

Published 25 Dec, 2009 12:00am

Japanese government bonds fall

Japanese government bonds fell on Thursday, with market sentiment dampened after the US benchmark Treasury note yield hit a four-month high earlier in the week and as Tokyo's Nikkei average climbed to a three-month high. The JGB yield curve steepened, wit

Published 25 Dec, 2009 12:00am

Japanese government bonds fall

Japanese government bonds fell on Thursday, with market sentiment dampened after the US benchmark Treasury note yield hit a four-month high earlier in the week and as Tokyo's Nikkei average climbed to a three-month high. The JGB yield curve steepened, wit

Published 25 Dec, 2009 12:00am

Singapore shares decline

Singapore shares closed 0.14 percent lower on Thursday in holiday-shortened trading in the run-up to Christmas. The blue chip Straits Times Index fell 3.86 points to 2,837.70 on volume of 519 million shares worth 389 million Singapore dollars (276 million

Published 25 Dec, 2009 12:00am

Taiwan shares finish at 1-1/2 year highs

Taiwan stocks rose 0.79 percent to a 1-1/2 year closing high on Thursday, led by gains in export-reliant technology companies including Acer after solid export orders pointed to a recovery in global trade. Taiwan's export orders in November rose 37.11 per

Published 25 Dec, 2009 12:00am

US technology shares end up

US technology shares rose on Wednesday after solid earnings from Micron Technology and Red Hat, but an unexpected drop in new home sales kept a lid on the broader market's gains. The Dow and S&P 500 were little changed as data showed new home sales droppe

Published 25 Dec, 2009 12:00am

Malaysian shares rally

Malaysian shares ended 0.27 percent higher on Thursday, lifted by gains in property and construction stocks, dealers said. The rise was a response to the government watering down the real property gains tax, they said. The 5.0 percent levy will only be im

Published 25 Dec, 2009 12:00am

Long-dated US Treasuries slightly up

Long-dated US Treasuries made the slightest of gains on Wednesday, making a leaden bounce from sharp losses earlier this week, aided by weaker-than-expected new home sales and consumer spending. Data showed new home sales fell in November. The news sent b

Published 25 Dec, 2009 12:00am

Currency	Rate
USD PKR Interbank Selling / Nov 8	277.83
USD PKR Interbank Buying / Nov 8	277.63
USD to Japanese Yen / Nov 8	152.75
USD to Swiss Franc / Nov 8	0.87
Pound Sterling to USD / Nov 8	1.30
Euro to USD / Nov 8	1.08

Stock	Volume
S&P 500 / Nov 7	5,973.10
Nasdaq / Nov 7	19,269.46
Dow Jones / Nov 7	43,729.34
India Sensex / Nov 8	79,425.88
Tokyo Nikkei / Nov 8	39,500.37
Hang Seng / Nov 8	20,820.36
FTSE 100 / Nov 8	8,143.78
Germany DAX 30 / Nov 8	19,353.61

Item	Value
Petrol/Litre / Nov 8	248.38
Crude Oil USD/Barrel / Nov 8	71.72
Karachi Cotton PKR/37.32 KG / Nov 8	18,285
Gold 10 Grams PKR / Nov 8	239,026
Gold Spot USD/Ounce / Nov 8	2,685.16
Diesel/Litre / Nov 8	255.14

Stock	Price
786 Invest Ltd / Nov 8 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 8 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Nov 8 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 8 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 8 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Nov 8 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 8 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Nov 8 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 8 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 8 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 8 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Nov 8 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 8 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 8 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Nov 8 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 8 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Nov 8 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 8 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Nov 8 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Nov 8 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Nov 8 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Nov 8 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Nov 8 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Nov 8 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Nov 8 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Nov 8 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Nov 8 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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