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Nov 18, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2010-03-30
Qatar can add 5-6 million tonnes LNG capacity with revamp

Qatar can add 5-6 million tonnes LNG capacity with revamp

Qatar can raise its liquefied natural gas (LNG) capacity by 5-6 million tonnes a year by revamping existing facilities, Energy Minister Abdullah al-Attiyah said on Tuesday. "We have the trains. We have the pipes we have the tankers. We have everything. So
Published 30 Mar, 2010 12:00am
LSE index loses 36.81 points

LSE index loses 36.81 points

Bearish sentiment prevailed at Lahore Stock Exchange on Monday and the equities registered declines under the lead of blue chips amid decreased trading turnover on account of lack of interest on the part of investors. The LSE-25 index lost 36.81 points an
Published 30 Mar, 2010 12:00am
China's Geely shares up on Volvo deal

China's Geely shares up on Volvo deal

Shares in Geely Automobile Holdings surged nearly five percent Monday after its Chinese parent company sealed a 1.8-billion-dollar deal to buy Volvo Cars from US auto giant Ford. The Hong Kong-listed unit of Zhejiang Geely Holding Group rose as much as 4.
Published 30 Mar, 2010 12:00am
BRIndex30 down 101.23 points

BRIndex30 down 101.23 points

On Monday, the BRIndex30 opened at 8,595.02 points and remained in negative for most of the market time, with only a slight upward spike during the first hour. It touched intra-day high of 8,627.95 and low of 8,497.81 points and closed at 8,493.79 points,
Published 30 Mar, 2010 12:00am
Taiwan expects trade recovery to pre-crisis levels in 2010

Taiwan expects trade recovery to pre-crisis levels in 2010

Taiwan expects its external trade to return to pre-crisis levels before the end of 2010 due to the gradual recovery of China and the United States from the global downturn, reports said on Sunday. The forecast, released by the Bureau of Foreign Trade, was
Published 30 Mar, 2010 12:00am
BRIndex30 down 101.23 points

BRIndex30 down 101.23 points

On Monday, the BRIndex30 opened at 8,595.02 points and remained in negative for most of the market time, with only a slight upward spike during the first hour. It touched intra-day high of 8,627.95 and low of 8,497.81 points and closed at 8,493.79 points,
Published 30 Mar, 2010 12:00am
Investors on alert as Portugal starts budget battle

Investors on alert as Portugal starts budget battle

Portugal's minority government is bracing for a tough battle over its planned austerity reforms after a parliamentary vote this week failed to gather support from opposition parties. The non-binding resolution on measures including a public sector salary
Published 30 Mar, 2010 12:00am
Index declines by 81.47 points

Index declines by 81.47 points

The KSE-100 index on Monday declined by 81.47 points to close at 10,056.46 points level due to investors'' concerns over delay in IMF tranche and difference between major political parties on constitutional reforms. The market opened on a positive note an
Published 30 Mar, 2010 12:00am
Vietnam Money-Rates up on increased loan demand

Vietnam Money-Rates up on increased loan demand

Vietnamese dong lending rates have risen slightly in the past week due to higher month-end loan demand, but bankers said on Monday they did not expect much change this week as banks had ample cash. Businesses complained that lending rates of around 18 per
Published 30 Mar, 2010 12:00am
Index declines by 81.47 points

Index declines by 81.47 points

The KSE-100 index on Monday declined by 81.47 points to close at 10,056.46 points level due to investors' concerns over delay in IMF tranche and difference between major political parties on constitutional reforms. The market opened on a positive note and
Published 30 Mar, 2010 12:00am
Australia's rates to rise despite global jitters: central bank

Australia's rates to rise despite global jitters: central bank

Australian interest rates will continue to rise to more normal levels despite global jitters as holding off with increases risks falling behind on inflation, a top central banker said on Thursday. Reserve Bank of Australia (RBA) Assistant Governor Philip
Published 30 Mar, 2010 12:00am
Index declines by 81.47 points

Index declines by 81.47 points

The KSE-100 index on Monday declined by 81.47 points to close at 10,056.46 points level due to investors' concerns over delay in IMF tranche and difference between major political parties on constitutional reforms. The market opened on a positive note and
Published 30 Mar, 2010 12:00am
Are India's rich charitable? Not very, study shows

Are India's rich charitable? Not very, study shows

The number of wealthy Indians has been rising fast oAre India's rich charitable? Not very, study shows ver the last decade, but they're not ready yet to let go of their hard-earned cash, even for charity, according to a study by business consultancy Bain
Published 30 Mar, 2010 12:00am
Power theft may land you in jail for an indefinite period!

Power theft may land you in jail for an indefinite period!

The government is said to be considering putting those involved in electricity theft behind bars for an indefinite period, well-informed sources in the Planning Commission told Business Recorder. This proposal was discussed at a recent meeting on p
Published 30 Mar, 2010 12:00am
Japan to face big fund shortage in fiscal year 2011

Japan to face big fund shortage in fiscal year 2011

Japan's government may need to issue more bonds or drop some of its spending plans as it faces a shortage of up to 7 trillion yen ($78 billion) in funds in the year to March 2012, the Nikkei newspaper reported. An increase in bond issuance may raise the s
Published 30 Mar, 2010 12:00am
Power theft may land you in jail for an indefinite period!

Power theft may land you in jail for an indefinite period!

The government is said to be considering putting those involved in electricity theft behind bars for an indefinite period, well-informed sources in the Planning Commission told Business Recorder. This proposal was discussed at a recent meeting on p
Published 30 Mar, 2010 12:00am
Japan to face big fund shortage in fiscal year 2011

Japan to face big fund shortage in fiscal year 2011

Japan's government may need to issue more bonds or drop some of its spending plans as it faces a shortage of up to 7 trillion yen ($78 billion) in funds in the year to March 2012, the Nikkei newspaper reported. An increase in bond issuance may raise the s
Published 30 Mar, 2010 12:00am
Power theft may land you in jail for an indefinite period!

Power theft may land you in jail for an indefinite period!

The government is said to be considering putting those involved in electricity theft behind bars for an indefinite period, well-informed sources in the Planning Commission told Business Recorder. This proposal was discussed at a recent meeting on p
Published 30 Mar, 2010 12:00am
China's wheat imports seen high again in 2010

China's wheat imports seen high again in 2010

China's falling stocks of imported wheat and Beijing's on-going efforts to aid domestic wheat prices will continue to prompt mills to source cheap, high-quality wheat overseas this year, traders said on Tuesday. Beijing has nearly sold off its foreign whe
Published 30 Mar, 2010 12:00am
NAB team reaches London, secures Swiss cases' records

NAB team reaches London, secures Swiss cases' records

A two-member team of National Accountability Bureau (NAB) reached London and secured the record of Swiss cases against President Asif Ali NAB had earlier written a letter to Pakistan's High Commissioner Wajid Shamsul Hassan, asking him to send the Swiss c
Published 30 Mar, 2010 12:00am
Japan forecasts steady 2010-11 non-GM soya reserves

Japan forecasts steady 2010-11 non-GM soya reserves

Japan will keep its reserves of non-genetically modified soyabeans steady at 7,200 tonnes in the 2010/11 fiscal year starting on April 1, the Ministry of Agriculture said on Tuesday. An official said the ministry plans to spend 291 million yen ($3.23 mill
Published 30 Mar, 2010 12:00am
NAB team reaches London, secures Swiss cases' records

NAB team reaches London, secures Swiss cases' records

A two-member team of National Accountability Bureau (NAB) reached London and secured the record of Swiss cases against President Asif Ali NAB had earlier written a letter to Pakistan's High Commissioner Wajid Shamsul Hassan, asking him to send the Swiss c
Published 30 Mar, 2010 12:00am
'Foreign capital flows into India no concern for now'

'Foreign capital flows into India no concern for now'

Foreign capital flows into India and the appreciating rupee were not causing any concern currently for policy makers, the finance secretary said on Tuesday. The rupee has risen a little over 2 percent to date since January this year on the back of oversea
Published 30 Mar, 2010 12:00am
Shell, CNPC sign 30-year Sichuan tight gas deal

Shell, CNPC sign 30-year Sichuan tight gas deal

Royal Dutch Shell and China National Petroleum Corp plan to jointly develop natural gas deposits in China's Sichuan province under a 30-year production sharing agreement, Shell said in a statement on Tuesday. The two companies have submitted the PSA to Ch
Published 30 Mar, 2010 12:00am
Indian firms admit $570 million bid for Gulfsands

Indian firms admit $570 million bid for Gulfsands

Two state-run Indian energy companies were behind a rejected 381 million ($570 million) cash approach for London-listed Gulfsands Petroleum. Tuesday's joint statement from Indian Oil Corporation and Oil India followed a Reuters report. Separately, Syria-f
Published 30 Mar, 2010 12:00am
Coca-Cola India unit asked to pay $47 million damages

Coca-Cola India unit asked to pay $47 million damages

The Indian unit of Coca-Cola Co has been asked to pay $47 million compensation for causing environmental damage at its bottling plant in the southern Indian state of Kerala, state officials said on Tuesday. A state government panel, in a report late on Mo
Published 30 Mar, 2010 12:00am
China gives state firms deadline to exit property sector

China gives state firms deadline to exit property sector

China has ordered 78 state companies whose core business is not property to submit plans to divest from the sector within 15 working days, state media reported on Tuesday. The order, from the State-owned Assets Supervision and Administration Commission (S
Published 30 Mar, 2010 12:00am
Rare China trade deficit not seen signalling new trend

Rare China trade deficit not seen signalling new trend

China will probably run a trade deficit of more than $8 billion in March, state media said on Tuesday, citing Premier Wen Jiabao. It would be China's first monthly deficit since April 2004, but is expected to be a one-time blip rather than the start of a
Published 30 Mar, 2010 12:00am
Bank of Finland ups GDP forecasts, but outlook gloomy

Bank of Finland ups GDP forecasts, but outlook gloomy

The Bank of Finland said on Tuesday the nation's economy had stopped contracting and raised its growth forecast for 2010, but it expects the upturn to remain slow for the next year or two. The bank said in its new economic forecast Finnish gross domestic
Published 30 Mar, 2010 12:00am
Offloading surplus wheat: ECC to finalise strategy today

Offloading surplus wheat: ECC to finalise strategy today

Prime Minister Syed Yousuf Raza Gilani has convened the meeting of the Economic Coordination Committee (ECC) of the Cabinet on Tuesday (today) to finalise the much-awaited surplus wheat offloading strategy, well-informed sources told Business Recorder<
Published 30 Mar, 2010 12:00am
Small bottlers pose new Pepsi challenge

Small bottlers pose new Pepsi challenge

PepsiCo Inc assured investors this week that its recent bottler acquisitions would give it the muscle to retool its North American distribution system, but it still faces small hurdles. Some analysts wonder how the food and beverage giant can make sweepin
Published 30 Mar, 2010 12:00am
Offloading surplus wheat: ECC to finalise strategy today

Offloading surplus wheat: ECC to finalise strategy today

Prime Minister Syed Yousuf Raza Gilani has convened the meeting of the Economic Coordination Committee (ECC) of the Cabinet on Tuesday (today) to finalise the much-awaited surplus wheat offloading strategy, well-informed sources told Business Recorder<
Published 30 Mar, 2010 12:00am
Bank of Canada official opposes global bank levy

Bank of Canada official opposes global bank levy

Strong opposition to Britain's global bank tax push came on Thursday from a Canadian central bank veteran, who said such a levy would not help prevent future crises and may be more about fixing fiscal deficits.
Published 30 Mar, 2010 12:00am
Offloading surplus wheat: ECC to finalise strategy today

Offloading surplus wheat: ECC to finalise strategy today

Prime Minister Syed Yousuf Raza Gilani has convened the meeting of the Economic Coordination Committee (ECC) of the Cabinet on Tuesday (today) to finalise the much-awaited surplus wheat offloading strategy, well-informed sources told Business Recorder<
Published 30 Mar, 2010 12:00am
London taxi parts to be made in China

London taxi parts to be made in China

The iconic black London taxi is to be partly made in China, manufacturers announced Tuesday, with production of the body panels and chassis shifting to Shanghai. Manganese Bronze, the leading manufacturer of the famous cabs, said the parts for its TX4 veh
Published 30 Mar, 2010 12:00am
FoDP CSF: fiscal pressure likely to mount if pledges not realised

FoDP CSF: fiscal pressure likely to mount if pledges not realised

The Sate Bank of Pakistan has indicated that a fiscal pressure is expected to mount if proceeds from Coalition Support Fund and Friends of Democratic Pakistan (FoDP) pledges are not realised. According to SBP''s second quarterly report on Pakistan''s econ
Published 30 Mar, 2010 12:00am
Opposition to stainless contract fading in Europe

Opposition to stainless contract fading in Europe

Europe's stainless steel industry is no longer uniformly opposed to an exchange traded contract, industry expert Heinz H. Pariser said on Friday. Pariser, who has nearly 50 years experience in the metals industry, said two of Europe's five main stainless
Published 30 Mar, 2010 12:00am
FoDP CSF: fiscal pressure likely to mount if pledges not realised

FoDP CSF: fiscal pressure likely to mount if pledges not realised

The Sate Bank of Pakistan has indicated that a fiscal pressure is expected to mount if proceeds from Coalition Support Fund and Friends of Democratic Pakistan (FoDP) pledges are not realised. According to SBP's second quarterly report on Pakistan's econom
Published 30 Mar, 2010 12:00am
Stock buybacks hint at optimism about US recovery

Stock buybacks hint at optimism about US recovery

Judging by the recent flurry of share buyback announcements, Corporate America is increasingly confident the worst of the economic slump has passed. After two years of belt tightening, stock buybacks are running at their highest level in two years as comp
Published 30 Mar, 2010 12:00am
FoDP CSF: fiscal pressure likely to mount if pledges not realised

FoDP CSF: fiscal pressure likely to mount if pledges not realised

The Sate Bank of Pakistan has indicated that a fiscal pressure is expected to mount if proceeds from Coalition Support Fund and Friends of Democratic Pakistan (FoDP) pledges are not realised. According to SBP's second quarterly report on Pakistan's econom
Published 30 Mar, 2010 12:00am
Dented sukuk market starved of sovereign benchmark

Dented sukuk market starved of sovereign benchmark

Sovereign borrowing still eludes the Islamic bond, or sukuk, market, leaving investors hungry for a benchmark issue to reinvigorate trading after the credit crunch and the Dubai World crisis. Where issuance from euro zone and emerging market borrowers in
Published 30 Mar, 2010 12:00am
External accounts: situation can aggravate: SBP

External accounts: situation can aggravate: SBP

The improvement in overall external accounts recorded during the first quarter of the financial year could not be sustained in the ensuing months of October-February and the situation could again become more serious in the months ahead, warns the State Ba
Published 30 Mar, 2010 12:00am
Dented sukuk market starved of sovereign benchmark

Dented sukuk market starved of sovereign benchmark

Sovereign borrowing still eludes the Islamic bond, or sukuk, market, leaving investors hungry for a benchmark issue to reinvigorate trading after the credit crunch and the Dubai World crisis. Where issuance from euro zone and emerging market borrowers in
Published 30 Mar, 2010 12:00am
External accounts: situation can aggravate: SBP

External accounts: situation can aggravate: SBP

The improvement in overall external accounts recorded during the first quarter of the financial year could not be sustained in the ensuing months of October-February and the situation could again become more serious in the months ahead, warns the State Ba
Published 30 Mar, 2010 12:00am
CNOOC may seek more small deals after Argentina

CNOOC may seek more small deals after Argentina

China National Offshore Oil Corp (CNOOC) should follow up its purchase of a stake in Argentina's Bridas Holdings with more mid-sized acquisitions in regions being avoided by big western firms. CNOOC's $3.1 billion purchase of Bridas, a privately held gas
Published 30 Mar, 2010 12:00am
External accounts: situation can aggravate: SBP

External accounts: situation can aggravate: SBP

The improvement in overall external accounts recorded during the first quarter of the financial year could not be sustained in the ensuing months of October-February and the situation could again become more serious in the months ahead, warns the State Ba
Published 30 Mar, 2010 12:00am
Green energy can spur Ireland's return to growth

Green energy can spur Ireland's return to growth

Renewable energy should play a major role in spurring Ireland back to growth now the government and economy are both showing signs of stability, Ireland's energy minister said in an interview. Eamon Ryan kept his post as minister for communications, energ
Published 30 Mar, 2010 12:00am
Economic recovery termed ''''fragile''''

Economic recovery termed ''''fragile''''

Terming the current economic recovery as "fragile", State Bank of Pakistan has underscored the need for a vigilant monitoring of deteriorations in macroeconomic indicators, particularly the ones that posted substantial improvement at the beginning of the
Published 30 Mar, 2010 12:00am
OM Holdings aims to triple manganese output

OM Holdings aims to triple manganese output

Australia-listed miner OM Holdings is aiming to boost output to at least 3 million metric tonnes within five years from an expected output of 1 million tonnes this year, its chief executive said on Monday. Singapore-based OM Holdings, which operates the B
Published 30 Mar, 2010 12:00am
Economic recovery termed ''fragile''

Economic recovery termed ''fragile''

Terming the current economic recovery as "fragile", State Bank of Pakistan has underscored the need for a vigilant monitoring of deteriorations in macroeconomic indicators, particularly the ones that posted substantial improvement at the beginning of the
Published 30 Mar, 2010 12:00am
Malaysia bids for investments with 'new economic model'

Malaysia bids for investments with 'new economic model'

Malaysia will this week unveil a "new economic model" aimed at luring foreign investors who analysts say have been alienated by corruption, political brawling and uncompetitive policies. Prime Minister Najib Razak, who will announce the reforms on Tuesday
Published 30 Mar, 2010 12:00am
Economic recovery termed 'fragile'

Economic recovery termed 'fragile'

Terming the current economic recovery as "fragile", State Bank of Pakistan has underscored the need for a vigilant monitoring of deteriorations in macroeconomic indicators, particularly the ones that posted substantial improvement at the beginning of the
Published 30 Mar, 2010 12:00am
Economic recovery termed 'fragile'

Economic recovery termed 'fragile'

Terming the current economic recovery as "fragile", State Bank of Pakistan has underscored the need for a vigilant monitoring of deteriorations in macroeconomic indicators, particularly the ones that posted substantial improvement at the beginning of the
Published 30 Mar, 2010 12:00am
China's influence silences Asia on yuan peg

China's influence silences Asia on yuan peg

China's increasing regional influence will keep Asian governments from pressuring the world's fastest growing economy into letting its currency strengthen for fear of economic or political repurcussion. China has repeatedly said a decision on unshackling
Published 30 Mar, 2010 12:00am
'Cash for refrigerators' kick-starts appliance sales

'Cash for refrigerators' kick-starts appliance sales

Americans are lining up to snap up rebates for "cash for refrigerators" and "dollars for dishwashers," as part of a US government program aimed at both economic stimulus and reduced emissions. The effort, modeled after the "cash for clunkers" auto trade-i
Published 30 Mar, 2010 12:00am
Nissan to make Leaf electric cars in Britain

Nissan to make Leaf electric cars in Britain

Nissan Motor on Thursday said it would start building its zero-emission Leaf electric car at a plant in Britain from 2013, saving more than 2,000 jobs in one of England's most deprived regions. The factory in Sunderland, north-east England, will also make
Published 30 Mar, 2010 12:00am
US oil to average $78.91 a barrel in 2010

US oil to average $78.91 a barrel in 2010

US crude oil is expected to rise to an average of $78.91 a barrel in 2010, a Reuters poll showed on Thursday, and analysts said medium-term economic improvement could spur investment in oil, sending prices higher. The poll of 32 analysts showed a rising c
Published 30 Mar, 2010 12:00am
SBP raises fiscal deficit forecast

SBP raises fiscal deficit forecast

The State Bank of Pakistan on Monday stressed serious policy efforts to achieve sustainable high growth, as the central bank believes the government intervention cannot successfully stabilise the economy and simultaneously provide stimulus for growth.
Published 30 Mar, 2010 12:00am
Eurozone deal points to a more German Europe

Eurozone deal points to a more German Europe

The masks have fallen. From now on, we will all be living in a more German Europe, with economic policy driven by Berlin's hair-shirt export-or-die model. That is the lesson of a deal among eurozone leaders on a financial safety net for debt-stricken Gree
Published 30 Mar, 2010 12:00am
SBP raises fiscal deficit forecast

SBP raises fiscal deficit forecast

The State Bank of Pakistan on Monday stressed serious policy efforts to achieve sustainable high growth, as the central bank believes the government intervention cannot successfully stabilise the economy and simultaneously provide stimulus for growth.
Published 30 Mar, 2010 12:00am
Canada leading indicator rises 0.8 percent

Canada leading indicator rises 0.8 percent

Canada's composite leading indicator rose 0.8 percent in February, as expected, posting its ninth straight gain due to strong household demand and a recovery in manufacturing, Statistics Canada said on Tuesday. Nine of the 10 components of the index advan
Published 30 Mar, 2010 12:00am
SBP raises fiscal deficit forecast

SBP raises fiscal deficit forecast

The State Bank of Pakistan on Monday stressed serious policy efforts to achieve sustainable high growth, as the central bank believes the government intervention cannot successfully stabilise the economy and simultaneously provide stimulus for growth.
Published 30 Mar, 2010 12:00am
Change to Canada inflation target tough to justify

Change to Canada inflation target tough to justify

The Bank of Canada will need a very strong sales pitch if it decides to change its inflation target next year, according to Deputy Governor David Longworth, who helped set up the current framework in 1991. The central bank has agreed with the government t
Published 30 Mar, 2010 12:00am
17 Indians get death for killing Pakistani

17 Indians get death for killing Pakistani

Seventeen Indian nationals have been sentenced to death for killing a Pakistani man in a turf dispute between bootleg liquor gangs in Sharjah in the United Arab Emirates, local media reported on Monday. The Pakistani man was beaten to death with metal bar
Published 30 Mar, 2010 12:00am
Brazil IPCA slows to mid-March, annual prices jump

Brazil IPCA slows to mid-March, annual prices jump

Inflation in Brazil slowed in the month to mid-March as expected, though consumer prices measured on an annual basis surged past the government's inflation target, underscoring expectations the central bank will raise borrowing costs as soon as next month
Published 30 Mar, 2010 12:00am
17 Indians get death for killing Pakistani

17 Indians get death for killing Pakistani

Seventeen Indian nationals have been sentenced to death for killing a Pakistani man in a turf dispute between bootleg liquor gangs in Sharjah in the United Arab Emirates, local media reported on Monday. The Pakistani man was beaten to death with metal bar
Published 30 Mar, 2010 12:00am
Robust demand to push copper into deficit in 2010

Robust demand to push copper into deficit in 2010

Healthy global demand and the possibility of supply disruptions mean the copper market could see a small deficit this year compared with previous forecasts of a surplus, a Reuters survey showed. The survey of 13 metal analysts carried out over the last tw
Published 30 Mar, 2010 12:00am
US looks to WTO reports to help resolve aircraft row

US looks to WTO reports to help resolve aircraft row

Washington hopes a WTO report on EU subsidies for Airbus, leaked this week, will help resolve a row over US and European support for their rival aircraft industries by clarifying an appropriate level of involvement. US Trade Representative Ron Kirk said i
Published 30 Mar, 2010 12:00am
Paris stocks seen gaining another seven percent by end 2010

Paris stocks seen gaining another seven percent by end 2010

France's CAC 40 stock index was seen making steady gains for the rest of the year, shrugging off sovereign debt fears in the eurozone, a Reuters poll found. The CAC 40 was seen at 4,200 points by end-2010, up 6.7 percent from Tuesday's close at 3,938 poin
Published 30 Mar, 2010 12:00am
US and India clear key hurdle in nuclear deal

US and India clear key hurdle in nuclear deal

The United States and India said Monday they have reached an agreement on reprocessing nuclear material, clearing a major hurdle in putting into operation a landmark atomic energy pact. The agreement, reached after nine months of painstaking negotiations,
Published 30 Mar, 2010 12:00am
Women's equality key to global prosperity: Hillary

Women's equality key to global prosperity: Hillary

Ensuring that women have equal status and opportunities is the key to global prosperity, US Secretary of State Hillary Clinton said Saturday, in a message to a conference in Spain.
Published 30 Mar, 2010 12:00am
US and India clear key hurdle in nuclear deal

US and India clear key hurdle in nuclear deal

The United States and India said Monday they have reached an agreement on reprocessing nuclear material, clearing a major hurdle in putting into operation a landmark atomic energy pact. The agreement, reached after nine months of painstaking negotiations,
Published 30 Mar, 2010 12:00am
Oil forecasts now see market in surplus in 2010

Oil forecasts now see market in surplus in 2010

World oil demand will grow faster than new supplies outside Opec's control in 2010, but stocks are likely to rise as the group is currently pumping more crude than the market needs with prices above $80 a barrel. According to a Reuters poll of ten top oil
Published 30 Mar, 2010 12:00am
High oil prices in global market to impact inflation

High oil prices in global market to impact inflation

High oil prices in the world market would impact domestic inflation in the months ahead, and annual CPI inflation is likely to be in the range of 11 to 12 percent in FY10, according to SBP''''s second quarterly report. An increase in domestic inflation ha
Published 30 Mar, 2010 12:00am
US GDP to slow in first quarter, Fed rates on hold to third quarter

US GDP to slow in first quarter, Fed rates on hold to third quarter

After a growth spurt at the end of 2009, the US economy will slow in the months ahead, keeping the Federal Reserve from raising borrowing costs until the final three months of the year, a Reuters poll showed. The survey of over 70 economists suggests US g
Published 30 Mar, 2010 12:00am
High oil prices in global market to impact inflation

High oil prices in global market to impact inflation

High oil prices in the world market would impact domestic inflation in the months ahead, and annual CPI inflation is likely to be in the range of 11 to 12 percent in FY10, according to SBP''s second quarterly report. An increase in domestic inflation has
Published 30 Mar, 2010 12:00am
Djibouti sees boom in banking sector

Djibouti sees boom in banking sector

Djibouti's banking sector is thriving with two more foreign banks likely to start operations within a year and the number of people with accounts set to almost double by 2011, its central bank governor said. The financial sector in the tiny Horn of Africa
Published 30 Mar, 2010 12:00am
High oil prices in global market to impact inflation

High oil prices in global market to impact inflation

High oil prices in the world market would impact domestic inflation in the months ahead, and annual CPI inflation is likely to be in the range of 11 to 12 percent in FY10, according to SBP's second quarterly report. An increase in domestic inflation has m
Published 30 Mar, 2010 12:00am
Metro Bank sees IPO raising around 200 million pound

Metro Bank sees IPO raising around 200 million pound

Metro Bank, Britain's first new high street bank in over a century, expects to float on the stock market around 2013 to raise some 200 million pounds ($298 million) in order to fund further growth, its chairman said. Anthony Thomson told Reuters the exact
Published 30 Mar, 2010 12:00am
High oil prices in global market to impact inflation

High oil prices in global market to impact inflation

High oil prices in the world market would impact domestic inflation in the months ahead, and annual CPI inflation is likely to be in the range of 11 to 12 percent in FY10, according to SBP's second quarterly report. An increase in domestic inflation has m
Published 30 Mar, 2010 12:00am
Metro Bank sees IPO raising around 200 million pound

Metro Bank sees IPO raising around 200 million pound

Metro Bank, Britain's first new high street bank in over a century, expects to float on the stock market around 2013 to raise some 200 million pounds ($298 million) in order to fund further growth, its chairman said. Anthony Thomson told Reuters the exact
Published 30 Mar, 2010 12:00am
US government to sell stake in Citigroup

US government to sell stake in Citigroup

The US Treasury Department on Monday announced it would sell its stake in Citigroup over the course of 2010, in what would be one of the largest stock sell-offs in history. The department said it intends "to fully dispose of its approximately 7.7 billion
Published 30 Mar, 2010 12:00am
Emerging stock markets to outsprint rich world

Emerging stock markets to outsprint rich world

Emerging stock markets will easily outpace gains seen this year for rich world counterparts, where there are signs of waning enthusiasm after 2009's historic rally, Reuters polls showed on Wednesday. All of the world's major stock indexes are expected to
Published 30 Mar, 2010 12:00am
US government to sell stake in Citigroup

US government to sell stake in Citigroup

The US Treasury Department on Monday announced it would sell its stake in Citigroup over the course of 2010, in what would be one of the largest stock sell-offs in history. The department said it intends "to fully dispose of its approximately 7.7 billion
Published 30 Mar, 2010 12:00am
Emerging stock markets to outsprint rich world

Emerging stock markets to outsprint rich world

Emerging stock markets will easily outpace gains seen this year for rich world counterparts, where there are signs of waning enthusiasm after 2009's historic rally, Reuters polls showed on Wednesday. All of the world's major stock indexes are expected to
Published 30 Mar, 2010 12:00am
US government to sell stake in Citigroup

US government to sell stake in Citigroup

The US Treasury Department on Monday announced it would sell its stake in Citigroup over the course of 2010, in what would be one of the largest stock sell-offs in history. The department said it intends "to fully dispose of its approximately 7.7 billion
Published 30 Mar, 2010 12:00am
Swatch brands aim for new highs in 2010

Swatch brands aim for new highs in 2010

Swatch Group's watch brands Omega, Longines and Blancpain added to the industry's growing optimism on Monday by giving themselves the target of lifting sales to a new record this year after a tough 2009. The three companies said 2010 had started strongly,
Published 30 Mar, 2010 12:00am
Hindu-Muslim clashes injure scores in India

Hindu-Muslim clashes injure scores in India

Authorities fired tear gas and warning shots and swung batons on Monday to disperse crowds of angry Hindus and Muslims who attacked each other with stones and clubs in southern India, where more than 75 people have been injured. Communal rioting broke out
Published 30 Mar, 2010 12:00am
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