The federal government is expected to abolish the entire textile sector''s untargeted cash subsidies by June 30, 2011 as per the agreement with Asian Development Bank (ADB), sources close to Secretary, Economic Affairs Division (EAD), told Business Rec
The federal government is expected to abolish the entire textile sector's untargeted cash subsidies by June 30, 2011 as per the agreement with Asian Development Bank (ADB), sources close to Secretary, Economic Affairs Division (EAD), told Business Reco
The federal government is expected to abolish the entire textile sector's untargeted cash subsidies by June 30, 2011 as per the agreement with Asian Development Bank (ADB), sources close to Secretary, Economic Affairs Division (EAD), told Business Reco
The Cabinet on Tuesday unanimously approved the 18th Amendment Constitutional Bill 2010, and decided to set up a committee to oversee, and provide guidance in, framing rules required for implementation of the provisions of the bill. Sources told Busine
The Cabinet on Tuesday unanimously approved the 18th Amendment Constitutional Bill 2010, and decided to set up a committee to oversee, and provide guidance in, framing rules required for implementation of the provisions of the bill. Sources told Busine
The Cabinet on Tuesday unanimously approved the 18th Amendment Constitutional Bill 2010, and decided to set up a committee to oversee, and provide guidance in, framing rules required for implementation of the provisions of the bill. Sources told Busine
Former Finance Minister Shaukat Tarin has accused the Ministry of Petroleum of shady deal of LNG under ''LNG Mashal Project'' by keeping the Economic Co-ordination Committee (ECC) of the Cabinet in the dark about the bid of Vitol/Fauji Foundation. "I am r
Former Finance Minister Shaukat Tarin has accused the Ministry of Petroleum of shady deal of LNG under 'LNG Mashal Project' by keeping the Economic Co-ordination Committee (ECC) of the Cabinet in the dark about the bid of Vitol/Fauji Foundation. "I am rea
Former Finance Minister Shaukat Tarin has accused the Ministry of Petroleum of shady deal of LNG under 'LNG Mashal Project' by keeping the Economic Co-ordination Committee (ECC) of the Cabinet in the dark about the bid of Vitol/Fauji Foundation. "I am rea
Government may allocate around Rs 16 billion to pay price differential claims (PDC) of Oil Marketing Companies (OMCs) on petroleum products and guaranteed shortfall of Pak Arab Refinery Limited (PARCO) in upcoming budget 2010-11.
Government may allocate around Rs 16 billion to pay price differential claims (PDC) of Oil Marketing Companies (OMCs) on petroleum products and guaranteed shortfall of Pak Arab Refinery Limited (PARCO) in upcoming budget 2010-11.
Government may allocate around Rs 16 billion to pay price differential claims (PDC) of Oil Marketing Companies (OMCs) on petroleum products and guaranteed shortfall of Pak Arab Refinery Limited (PARCO) in upcoming budget 2010-11.
On Tuesday, BRIndex30 touched an intraday high of 8,906.73 and an intraday low of 8,756.99 and closed at 8,769.37, which is -56.47 points lower than yesterday's close. Total volume was 198,682,587, as compared to volumes of KSE All Share and KSE100, which
On Tuesday, BRIndex30 touched an intraday high of 8,906.73 and an intraday low of 8,756.99 and closed at 8,769.37, which is -56.47 points lower than yesterday's close. Total volume was 198,682,587, as compared to volumes of KSE All Share and KSE100, which
The Karachi share market on Tuesday opened on a positive note and the KSE-100 index hit 20-month high of 10,554.02 points, up 106.18 points, on the back of continuing interest of foreign investors. However, after mid-session the investors opted profit tak
The Karachi share market on Tuesday opened on a positive note and the KSE-100 index hit 20-month high of 10,554.02 points, up 106.18 points, on the back of continuing interest of foreign investors. However, after mid-session the investors opted profit tak
The Karachi share market on Tuesday opened on a positive note and the KSE-100 index hit 20-month high of 10,554.02 points, up 106.18 points, on the back of continuing interest of foreign investors. However, after mid-session the investors opted profit tak
The State Bank of Pakistan has directed banks and development finance institutions (DFIs) to cooperate with law enforcement agencies through timely supply of information under a new paragraph (4) incorporated in Regulation M-3 of Prudential Regulations fo
The State Bank of Pakistan has directed banks and development finance institutions (DFIs) to cooperate with law enforcement agencies through timely supply of information under a new paragraph (4) incorporated in Regulation M-3 of Prudential Regulations fo
The State Bank of Pakistan has directed banks and development finance institutions (DFIs) to cooperate with law enforcement agencies through timely supply of information under a new paragraph (4) incorporated in Regulation M-3 of Prudential Regulations fo
The federal government has failed to implement the orders of the Economic Co-ordination Committee (ECC) of the Cabinet to re-promulgate the lapsed Competition Commission of Pakistan (CCP) Ordinance on timely basis.
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
The federal government has failed to implement the orders of the Economic Co-ordination Committee (ECC) of the Cabinet to re-promulgate the lapsed Competition Commission of Pakistan (CCP) Ordinance on timely basis.
Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
The federal government has failed to implement the orders of the Economic Co-ordination Committee (ECC) of the Cabinet to re-promulgate the lapsed Competition Commission of Pakistan (CCP) Ordinance on timely basis.
Total amount of circular debt has increased to Rs 115 billion as no major payments have been made by the government during the first quarter of year 2010. "Although the issue of circular debt had been once resolved by the government through issuance of te
Total amount of circular debt has increased to Rs 115 billion as no major payments have been made by the government during the first quarter of year 2010. "Although the issue of circular debt had been once resolved by the government through issuance of te
Total amount of circular debt has increased to Rs 115 billion as no major payments have been made by the government during the first quarter of year 2010. "Although the issue of circular debt had been once resolved by the government through issuance of te
Venezuela is deemed to be the world''s riskiest sovereign credit while Greece is creeping up the table of countries whose debt is the costliest to insure, credit default swap monitor CDS DataVision said on Tuesday. Argentina has moved into second place in
The Karachi Port handled 133,850 tonnes of cargo including 78,219 tonnes of import cargo; 55,631 tonnes of export cargo and 5,505 loaded and empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 78,219 tonnes comp
Venezuela is deemed to be the world's riskiest sovereign credit while Greece is creeping up the table of countries whose debt is the costliest to insure, credit default swap monitor CDS DataVision said on Tuesday. Argentina has moved into second place in
Cocoa arrivals at ports in top grower Ivory Coast reached 881,311 tonnes by March 31, down from 893,513 tonnes in the same period a year ago, according to data from the Coffee and Cocoa Bourse (BCC) obtained by Reuters on Tuesday. The figures showed 3,644
Venezuela is deemed to be the world's riskiest sovereign credit while Greece is creeping up the table of countries whose debt is the costliest to insure, credit default swap monitor CDS DataVision said on Tuesday. Argentina has moved into second place in
ICE Canadian canola futures closed mostly lower on Monday, weighed down by the Canadian dollar's move toward parity with the US currency and weaker soybean futures, traders said. Lack of farmer selling seen underpinning market; exporters buying despite ri
The Finance Ministry is reported to have allocated foreign exchange to Trading Corporation of Pakistan (TCP) to open letters of credit for sugar and urea import, sources close toTCP Chairman Anjum Bashir told Business Recorder from Karachi.
Any Chinese import restrictions on Argentine soyaoil are likely to be temporary because of a lack of alternative supplies, Hamburg-based oilseeds analysts Oil World forecast on Tuesday. Chinese traders said on Mar. 31 that the Chinese government had asked
The Finance Ministry is reported to have allocated foreign exchange to Trading Corporation of Pakistan (TCP) to open letters of credit for sugar and urea import, sources close toTCP Chairman Anjum Bashir told Business Recorder from Karachi.
Global soyabean and meal prices are likely to come under pressure in the near to medium term, Hamburg-based oilseeds analysts Oil World forecast on Tuesday. The end of the strike by Argentine port workers was likely to raise shipments of soyabeans and pro
The Finance Ministry is reported to have allocated foreign exchange to Trading Corporation of Pakistan (TCP) to open letters of credit for sugar and urea import, sources close toTCP Chairman Anjum Bashir told Business Recorder from Karachi.
Indonesian cocoa exporters are seeking to renegotiate supply pacts with overseas buyers after the government slapped an export tax on the commodity in April, the Indonesia Cocoa Association said on Tuesday. Cocoa trading in Makassar, home of the biggest p
Trading Corporation of Pakistan (TCP) has refused to grant an extension to Sadan General Trading Corporation LLC(SGT) in contracted sugar delivery time and is expected to scrap the contract with the firm on Wednesday (today), well-informed sources told <i
US corn export premiums at the Gulf of Mexico were firm on Monday due to a modest increase in demand after a recent drop in prices, traders said. US wheat export premiums were flat on Monday, despite talk that Iraq may have purchased some US wheat in its
Trading Corporation of Pakistan (TCP) has refused to grant an extension to Sadan General Trading Corporation LLC(SGT) in contracted sugar delivery time and is expected to scrap the contract with the firm on Wednesday (today), well-informed sources told <i
Vietnamese coffee prices edged up slightly on Tuesday, drawing support from New York arabica gains with the London robusta market closed for a holiday and news of a new wave of domestic market defaults, traders said. Robusta beans stood at 24.5-25.0 milli
Trading Corporation of Pakistan (TCP) has refused to grant an extension to Sadan General Trading Corporation LLC(SGT) in contracted sugar delivery time and is expected to scrap the contract with the firm on Wednesday (today), well-informed sources told <i
The May vaida was unchanged and the July contract was down on the forward cottonseed oilcake market on Tuesday as buyers were not so much interested in fresh deals in anticipation of decline in the rates, dealers said. The May contract had ended at Rs 997
Pakistan High Commissioner Ashraf Qureshi on Tuesday said Islamabad has not made any formal statement about the trial of war criminals in Bangladesh. "It is the guess work of the media that reports Pakistan is opposed to the trial," he said. The issue of
Firmness prevailed on the cotton market on Tuesday as most of the buyers were sidelined due to tight supplies, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 5,550, dealers said. In the ready business, over 3000
The bodies of nine of the 10 Pakistani gunmen from the 2008 Mumbai attack were buried in a secret location in January, a top state official said on Tuesday. The badly decomposed bodies had been lying in the mortuary of a hospital in Mumbai after clerics i
Grams prices were higher on the wholesale grain and oilseed market on Tuesday in process of tight supplies, dealers said. On the gram side, gram 50x50 low type was up by Rs 350 to Rs 4200 and good type was higher by Rs 300 to Rs 300 to Rs 4450. Gram dal p
The bodies of nine of the 10 Pakistani gunmen from the 2008 Mumbai attack were buried in a secret location in January, a top state official said on Tuesday. The badly decomposed bodies had been lying in the mortuary of a hospital in Mumbai after clerics i
US copper futures climbed to a fresh 20-month peak on Monday morning, as economic recovery optimism carried through from the long holiday weekend after government data on Friday showed the economy added the largest number of jobs in three years.
New York
National Bank of Pakistan (NBP) has partnered AF Ferguson & Co (PWC), the leading firm in providing Basel-II advisory services, in its pursuit to strengthen risk management in NBP. The relationship is a landmark as the largest bank in Pakistan has joined
London copper futures rallied above $8,000 a tonne to their highest since August 2008 on Tuesday after a four-day weekend. Three-month copper on the London Metal Exchange rose around 1.5 percent on Tuesday to touch $8,009.75, its highest since August 2008
"The Constitution (Eighteenth Amendment) Bill, 2010" has been laid before the National Assembly without any delay for debate to restore. Adviser to Prime Minister and Chairman of Parliamentary Committee on Constitutional Reforms (PCCR) Mian Raza Rabbani T
US palladium and platinum futures rose to their highest since 2008 on Monday on strong demand based on an improved auto-sector outlook, and gold contracts hit a 2-1/2 week high in thin post-holiday trade. COMEX June settled up $7.70 at $1,133.80 an ounce.
"The Constitution (Eighteenth Amendment) Bill, 2010" has been laid before the National Assembly without any delay for debate to restore. Adviser to Prime Minister and Chairman of Parliamentary Committee on Constitutional Reforms (PCCR) Mian Raza Rabbani T
Gold fell on Tuesday from a four-week high hit in the previous session, while palladium flirted with $500 an ounce as a firmer US dollar kept the metal just below Monday's two-year high. Spot gold was at $1,128.20 an ounce by 0556 GMT, down $1.50 from New
Pakistan Air Force's High Mark Exercises began in Thal area of Jhang district on Tuesday, displaying its power and expertise in aerial capability. The flypast of the fighter jets opened the PAF's fire power. Various practices, including midair refuelling
Iraq has bought around 500,000 tonnes of Russian, Canadian and US wheat, Middle East trade sources said on Tuesday. The breakdown of the purchase is said to include 300,000 tonnes of Russian wheat, 150,000 tonnes of Canadian origin and 50,000 tonnes of US
Pakistan Air Force's High Mark Exercises began in Thal area of Jhang district on Tuesday, displaying its power and expertise in aerial capability. The flypast of the fighter jets opened the PAF's fire power. Various practices, including midair refuelling
India's wheat stocks on April 1, the start of the new harvest, were four times the target, raising prospects of more exportss through diplomatic channels Analysts believe the Indian government, battling high food prices, won't lift a ban on wheat exports
Australia has blocked a shipment of scientific equipment to Pakistan over fears it could be used to help build weapons of mass destruction, a spokesman for Defence Minister John Faulkner said on Tuesday. The government used the 1995 Weapons of Mass Destru
Australian farmers are expected to make only a modest expansion in wheat plantings this year, despite good recent rains, as weak global prices persuade them to hedge their bets and plant more canola as well. Wheat farmers are due to start sowing fields la
Australia has blocked a shipment of scientific equipment to Pakistan over fears it could be used to help build weapons of mass destruction, a spokesman for Defence Minister John Faulkner said on Tuesday. The government used the 1995 Weapons of Mass Destru
The most active Tokyo rubber futures contract rallied to a 20-month high on Tuesday before slipping as the yen's strength weighed and oil weakened, but tight physical supply kept support intact. The September contract on the Tokyo Commodity Exchange rose
The Federal Board of Revenue is planning to equip the Inland Revenue Services (IRS) management with an integrated domestic taxes technology using state of the art system ie System Transparent Analysis of Inland Revenue (Stair) for checking huge gap in inc
Raw sugar futures settled lower Monday on selling after the holiday break as players mulled the direction of the sweetener in the second quarter of 2010 after a volatile first quarter, brokers said. The market was closed Friday for a holiday. The May raw
The Federal Board of Revenue is planning to equip the Inland Revenue Services (IRS) management with an integrated domestic taxes technology using state of the art system ie System Transparent Analysis of Inland Revenue (Stair) for checking huge gap in inc
US soyabean futures on the Chicago Board of Trade fell less than 1 percent on Monday amid ongoing pressure from expectations for a record South American soya harvest and world supplies to build, traders said. But trade quiet after the long holiday weekend
The Federal Board of Revenue is planning to equip the Inland Revenue Services (IRS) management with an integrated domestic taxes technology using state of the art system ie System Transparent Analysis of Inland Revenue (Stair) for checking huge gap in inc
Malaysia palm oil futures fell on Tuesday as the stronger ringgit and reports of higher production last month weighed on sentiment. The benchmark June crude palm oil contract on the Bursa Malaysia Derivatives Exchange ended down 0.4 percent at 2,520 ringg
The State Bank of Pakistan has decided that letters of credit (LCs) for import of second-hand machinery established up to June 30, 2010 will also be eligible for refinancing under the Long Term Financing Facility (LTFF) Scheme, according to SMEFD circular
Egypt's Alexandria Cotton Exporters' Association (Alcotexa) committed to sell 200 tonnes of Giza 86 cotton in the week that ended on April 3, an Alcotexa official told Reuters on Tuesday. The deal brings Alcotexa's export commitments for the 2009/10 seaso
The State Bank of Pakistan has decided that letters of credit (LCs) for import of second-hand machinery established up to June 30, 2010 will also be eligible for refinancing under the Long Term Financing Facility (LTFF) Scheme, according to SMEFD circular