News Archives for Print - 2010-04-08

Interest rates on new foreign currency deposits

Interest rates on new foreign currency deposits issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (April 07, 2010).

Published 08 Apr, 2010 12:00am

Equities move both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in the index. ISE Ten Index showed an increase of 46.60 points, as the Index moved from 2,487.63 to 2,

Published 08 Apr, 2010 12:00am

Interest rates on old and incremental FCY deposits

Interest rates on old and incremental FCY deposits on Wednesday (April 07, 2010).

Published 08 Apr, 2010 12:00am

Equities move both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in the index. ISE Ten Index showed an increase of 46.60 points, as the Index moved from 2,487.63 to 2,

Published 08 Apr, 2010 12:00am

LIBOR calculating interest on US dollar

London Interbank Offer Rates on for calculating interest on special US dollar on Wednesday (April 07, 2010).

Published 08 Apr, 2010 12:00am

Nuclear state status: Pakistan cognisant of responsibilities, says Gilani

Prime Minister Yousuf Raza Gilani has reiterated his government's commitment to take all parliamentary political parties into confidence on all national policy matters, particularly Defence, Kashmir and nuclear issues. According to a statement, while chai

Published 08 Apr, 2010 12:00am

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Wednesday (April 07, 2010).

Published 08 Apr, 2010 12:00am

Nuclear state status: Pakistan cognisant of responsibilities, says Gilani

Prime Minister Yousuf Raza Gilani has reiterated his government's commitment to take all parliamentary political parties into confidence on all national policy matters, particularly Defence, Kashmir and nuclear issues. According to a statement, while chai

Published 08 Apr, 2010 12:00am

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Wednesday (April 07, 2010).

Published 08 Apr, 2010 12:00am

Iranian envoy meets CJCSC

Ambassador of Iran, Masha'allah Shakeri called on General Tariq Majid, Chairman of Joint Chiefs of Staff Committee (CJCSC) at Joint Staff Headquarters, Chaklala on Wednesday. They exchanged views on bilateral relations, defence co-operation and other matt

Published 08 Apr, 2010 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (April 07, 2010).

Published 08 Apr, 2010 12:00am

Commanders review Azm-e-Nau III

The top brass of Pakistan Army has reviewed the upcoming War Games Azm-e-Nau III, besides evaluating operational capabilities and readiness of the armed forces to protect the frontiers. "The drill is aimed at achieving excellence in operational preparedne

Published 08 Apr, 2010 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 08 Apr, 2010 12:00am

Commanders review Azm-e-Nau III

The top brass of Pakistan Army has reviewed the upcoming War Games Azm-e-Nau III, besides evaluating operational capabilities and readiness of the armed forces to protect the frontiers. "The drill is aimed at achieving excellence in operational preparedne

Published 08 Apr, 2010 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 08 Apr, 2010 12:00am

TCP cancels sugar import contract with Sadan

The Trading Corporation of Pakistan (TCP) has finally cancelled its first contract for 50,000 tons white sugar with Sadan General Trading LLC (SGT) after expiry of shipment deadline, sources in Minfa told Business Recorder. Since SGT failed to conf

Published 08 Apr, 2010 12:00am

Karachi interbank rates

Karachi interbank rates on Wednesday (April 07, 2010).

Published 08 Apr, 2010 12:00am

TCP cancels sugar import contract with Sadan

The Trading Corporation of Pakistan (TCP) has finally cancelled its first contract for 50,000 tons white sugar with Sadan General Trading LLC (SGT) after expiry of shipment deadline, sources in Minfa told Business Recorder. Since SGT failed to conf

Published 08 Apr, 2010 12:00am

New York cotton

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

Published 08 Apr, 2010 12:00am

TCP cancels sugar import contract with Sadan

The Trading Corporation of Pakistan (TCP) has finally cancelled its first contract for 50,000 tons white sugar with Sadan General Trading LLC (SGT) after expiry of shipment deadline, sources in Minfa told Business Recorder. Since SGT failed to conf

Published 08 Apr, 2010 12:00am

New York cotton

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

Published 08 Apr, 2010 12:00am

July-February 2009-10: Direct taxes, sales tax show double-digit growth

There is growth of 12.9 percent and 15.3 percent in direct taxes and sales tax respectively during July-February (2009-10) against the collection in the corresponding period of last fiscal year. Sources told Business Recorder here on Wednesday that

Published 08 Apr, 2010 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 70,615 tonnes of cargo including 27,224 tonnes of import cargo; 43,391 tonnes of export cargo and 2,868 loaded and empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 27,224 tonnes com

Published 08 Apr, 2010 12:00am

July-February 2009-10: Direct taxes, sales tax show double-digit growth

There is growth of 12.9 percent and 15.3 percent in direct taxes and sales tax respectively during July-February (2009-10) against the collection in the corresponding period of last fiscal year. Sources told Business Recorder here on Wednesday that

Published 08 Apr, 2010 12:00am

Zambia's 2010 coffee output to fall on farm closures

Zambia's 2010 coffee output is forecast to fall to 1,250 tonnes from 1,643 tonnes the previous year due to farm closures caused by lack of affordable long-term finance, a senior industry official said on Tuesday. Joseph Taguma, the general manager of the

Published 08 Apr, 2010 12:00am

July-February 2009-10: Direct taxes, sales tax show double-digit growth

There is growth of 12.9 percent and 15.3 percent in direct taxes and sales tax respectively during July-February (2009-10) against the collection in the corresponding period of last fiscal year. Sources told Business Recorder here on Wednesday that

Published 08 Apr, 2010 12:00am

US wheat futures rise

US wheat futures rose on Tuesday, with the benchmark Chicago Board of Trade front-month contract notching its biggest gain in more than a month, as traders covered short positions with prices hovering near six-month lows. News that Iraq bought 500,000 ton

Published 08 Apr, 2010 12:00am

BRIndex30 up 93.76 points

On Wednesday, the BRIndex30 touched the intra-day high of 8,891.01 points and low of 8,813.2 points, and closed at 8,863.13 points, with a positive change of 93.76 points. Total volume was 181,430,307 shares, as compared to volumes of KSE All Share and KS

Published 08 Apr, 2010 12:00am

Kenya's tea auction sales rise 18 percent

Kenya's tea auction sales rose 18 percent to 94.5 million kg in the January-March quarter from 79.8 million kg in the same period last year, the Africa Tea Brokers Limited said on Wednesday. Kenya is a exporter of black tea and the crop is the second bigg

Published 08 Apr, 2010 12:00am

BRIndex30 up 93.76 points

On Wednesday, the BRIndex30 touched the intra-day high of 8,891.01 points and low of 8,813.2 points, and closed at 8,863.13 points, with a positive change of 93.76 points. Total volume was 181,430,307 shares, as compared to volumes of KSE All Share and KS

Published 08 Apr, 2010 12:00am

Canadian canola futures higher

ICE Canadian canola futures closed higher on Tuesday as higher soya futures blunted the impact of the Canadian dollar rising to parity with the US greenback, traders said. Crushers and exporters seen buying canola despite high dollar as soya values keep c

Published 08 Apr, 2010 12:00am

Index gains 103.19 points

Bullish trend was witnessed at the Karachi share market on Wednesday on the back of continuous interest of foreign investors, and the KSE-100 index surged by 103.19 points to close at 10.523.01 points level. Healthy participation of both local and foreign

Published 08 Apr, 2010 12:00am

Analyst sees Ukraine's oilseed crop, export up

Ukraine, among the world leading sunflower seed producers, is likely to increase its 2010 sunseed crop to 6.85 million tonnes from 6.60 million in 2009, analyst UkrAgroConsult said on Wednesday. It said in a statement farms were likely to increase the sun

Published 08 Apr, 2010 12:00am

Index gains 103.19 points

Bullish trend was witnessed at the Karachi share market on Wednesday on the back of continuous interest of foreign investors, and the KSE-100 index surged by 103.19 points to close at 10.523.01 points level. Healthy participation of both local and foreign

Published 08 Apr, 2010 12:00am

Russia's January-February raw sugar imports up on duty cut

Russian raw sugar imports more than tripled to 208,900 tonnes in January-February this year from the same period a year ago, as the country lowered its import tariff, customs data showed on Wednesday. Russia, now the third-largest sugar buyer, has cut its

Published 08 Apr, 2010 12:00am

Index gains 103.19 points

Bullish trend was witnessed at the Karachi share market on Wednesday on the back of continuous interest of foreign investors, and the KSE-100 index surged by 103.19 points to close at 10.523.01 points level. Healthy participation of both local and foreign

Published 08 Apr, 2010 12:00am

US soyabean premiums flat

US soyabean export premiums at the Gulf of Mexico were flat on Tuesday with a weak tone stemming from a lack of near-term demand due to ample supplies of cheaper South American soyabeans, traders said. Most US soyabean sales in recent weeks have been for

Published 08 Apr, 2010 12:00am

SBP working on Shariah-compliant securities: Raza

State Bank of Pakistan Governor Salim Raza has said that SBP is actively working with the industry and the federal government to develop Shariah-compliant short-term securities, which would be issued on regular basis.

Published 08 Apr, 2010 12:00am

Oil cake market rates

Both the futures were higher on the forward cottonseed oilcake market on Wednesday as buyers indulged in fresh purchasing, dealers said. The May contract had ended at Rs 997.20 on Tuesday and it started with a slight rise of 20 paisa at Rs 997.40, dealers

Published 08 Apr, 2010 12:00am

SBP working on Shariah-compliant securities: Raza

State Bank of Pakistan Governor Salim Raza has said that SBP is actively working with the industry and the federal government to develop Shariah-compliant short-term securities, which would be issued on regular basis.

Published 08 Apr, 2010 12:00am

Sharp rise in lint prices on falling supply, cotton spot rate at Rs 5,625

Declining trend in supplies caused steep rise in prices on the cotton market on Wednesday, dealers said. The Karachi Cotton Association (KCA) official spot rate rose by 75 Rs 5,625, dealers said. In the ready business over 10,000 bales of cotton changed h

Published 08 Apr, 2010 12:00am

SBP working on Shariah-compliant securities: Raza

State Bank of Pakistan Governor Salim Raza has said that SBP is actively working with the industry and the federal government to develop Shariah-compliant short-term securities, which would be issued on regular basis.

Published 08 Apr, 2010 12:00am

Kirana items move both ways on Jodia Bazar

The trading in Kirana items moved both ways on Jodia Bazar here on Wednesday. The following changes were noted.

Published 08 Apr, 2010 12:00am

NFC Award: Sindh engages Makhdoom to advise against fudging

The Sindh government has engaged former Attorney General of Pakistan, Makhdoom Ali Khan, to advise on fudging in the 7th NFC Award, signed in Gwadar. He has advised that the draft bills 2010 relating to Federal and Provincial VAT, prepared by the Federal

Published 08 Apr, 2010 12:00am

Minor changes in slow trade on grain market

Thin business was seen on the wholesale grain and oilseed market on Wednesday as most of the buyers were sidelined due to satisfactory supply position, dealers said. On the seeds counter til low type retained its level at Rs 3600, while better type was do

Published 08 Apr, 2010 12:00am

NFC Award: Sindh engages Makhdoom to advise against fudging

The Sindh government has engaged former Attorney General of Pakistan, Makhdoom Ali Khan, to advise on fudging in the 7th NFC Award, signed in Gwadar. He has advised that the draft bills 2010 relating to Federal and Provincial VAT, prepared by the Federal

Published 08 Apr, 2010 12:00am

India corporate fraud rising: KPMG report

Corporate fraud, particularly involving financial statements, is on the rise in India and internal controls are failing to prevent such abuses, global consultancy KPMG said Wednesday. Forty-five percent of the 1,000 respondents from leading Indian busines

Published 08 Apr, 2010 12:00am

NFC Award: Sindh engages Makhdoom to advise against fudging

The Sindh government has engaged former Attorney General of Pakistan, Makhdoom Ali Khan, to advise on fudging in the 7th NFC Award, signed in Gwadar. He has advised that the draft bills 2010 relating to Federal and Provincial VAT, prepared by the Federal

Published 08 Apr, 2010 12:00am

US home purchase loan demand steady

US mortgage rates spiked last week, slashing refinancing demand, while requests for home purchase loans held steady amid a final rush for federal tax credits, Mortgage Bankers Association data showed on Wednesday. Time is running out for home buyers seeki

Published 08 Apr, 2010 12:00am

Work on navigation channel: PQA finding it difficult to procure loans on ''attractive terms''

The Port Qasim Authority (PQA) is finding it difficult to procure loans at ''attractive terms'' from commercial banks for deepening and widening of navigation channel, well-informed sources told Business Recorder. A couple of weeks ago, Economic Co

Published 08 Apr, 2010 12:00am

New head of world's largest wealth fund named

Khalifa Mohammed al-Kindi has been chosen to head the Abu Dhabi Investment Authority, the world's largest sovereign wealth fund, the official WAM news agency said Wednesday. Kindi was appointed to succeed Sheikh Ahmed bin Zayed al-Nahyan, a brother of the

Published 08 Apr, 2010 12:00am

Work on navigation channel: PQA finding it difficult to procure loans on 'attractive terms'

The Port Qasim Authority (PQA) is finding it difficult to procure loans at 'attractive terms' from commercial banks for deepening and widening of navigation channel, well-informed sources told Business Recorder. A couple of weeks ago, Economic Co-o

Published 08 Apr, 2010 12:00am

New head of world's largest wealth fund named

Khalifa Mohammed al-Kindi has been chosen to head the Abu Dhabi Investment Authority, the world's largest sovereign wealth fund, the official WAM news agency said Wednesday. Kindi was appointed to succeed Sheikh Ahmed bin Zayed al-Nahyan, a brother of the

Published 08 Apr, 2010 12:00am

Work on navigation channel: PQA finding it difficult to procure loans on 'attractive terms'

The Port Qasim Authority (PQA) is finding it difficult to procure loans at 'attractive terms' from commercial banks for deepening and widening of navigation channel, well-informed sources told Business Recorder. A couple of weeks ago, Economic Co-o

Published 08 Apr, 2010 12:00am

Eurozone growth stalls

Eurozone growth stalled in the last quarter of 2009 as investment turned out weaker than expected, revised data showed on Wednesday, but a benchmark survey suggested this year's fragile recovery is gaining traction. The gross domestic product of the 16 co

Published 08 Apr, 2010 12:00am

Don''t blame crisis on mortgages for poor: Greenspan

Making it easier for poorer Americans to get mortgages didn''t push the country into crisis but Wall Street''s drive to package the loans into opaque securities helped do so, former Federal Reserve Chairman Alan Greenspan said on Wednesday.

Published 08 Apr, 2010 12:00am

US needs financial data for terrorism fight: Treasury

The US government is ready and willing to negotiate an agreement with the European Union that will allow it to use data it considers critical "in countering illicit finance and transnational terrorism," a Treasury official said on Wednesday.

Published 08 Apr, 2010 12:00am

Don't blame crisis on mortgages for poor: Greenspan

Making it easier for poorer Americans to get mortgages didn't push the country into crisis but Wall Street's drive to package the loans into opaque securities helped do so, former Federal Reserve Chairman Alan Greenspan said on Wednesday.

Published 08 Apr, 2010 12:00am

East Asia to open economic surveillance unit in May 2011

China, Japan, South Korea and the 10 Southeast Asian states will launch an independent surveillance unit next year to monitor their economies for signs of financial stress, Vietnam said Wednesday. The launch of the unit is a crucial step in the implementa

Published 08 Apr, 2010 12:00am

Don't blame crisis on mortgages for poor: Greenspan

Making it easier for poorer Americans to get mortgages didn't push the country into crisis but Wall Street's drive to package the loans into opaque securities helped do so, former Federal Reserve Chairman Alan Greenspan said on Wednesday.

Published 08 Apr, 2010 12:00am

Renault, Nissan, Daimler in small car, engine deal: partnership could save 4 billion euros over five years

Renault, Nissan and Daimler will swap stakes and jointly develop cars in a tie-up that could lead to combined savings of 4 billion euros ($5.35 billion) over five years. Renault and Daimler have been discussing co-operation plans for some months as carmak

Published 08 Apr, 2010 12:00am

Sugar mills: Nepra offers 9.28 cents/kWh tariff

The National Electric Power Regulatory Authority (Nepra) has offered the tariff of 9.28 cents/kWh to the sugar mills which will generate electricity for the national grid by the end of March 2014 by using bagasse and coal. The regulator has offered the sa

Published 08 Apr, 2010 12:00am

China leads developing East Asia out of crisis: World Bank

The World Bank said Wednesday that China's growing economy had helped developing countries in East Asia recover from the global crisis, but warned against exiting pro-growth policies too early. "Largely thanks to China, the region's output, exports and em

Published 08 Apr, 2010 12:00am

Sugar mills: Nepra offers 9.28 cents/kWh tariff

The National Electric Power Regulatory Authority (Nepra) has offered the tariff of 9.28 cents/kWh to the sugar mills which will generate electricity for the national grid by the end of March 2014 by using bagasse and coal. The regulator has offered the sa

Published 08 Apr, 2010 12:00am

Greek banks seek more aid

Greece's borrowing costs hit a new high on Wednesday after the government said the country's banks had asked for billions of euros in support and eurozone states argued over the conditions of potential bailout loans. Investors shed bank shares and drove u

Published 08 Apr, 2010 12:00am

Sugar mills: Nepra offers 9.28 cents/kWh tariff

The National Electric Power Regulatory Authority (Nepra) has offered the tariff of 9.28 cents/kWh to the sugar mills which will generate electricity for the national grid by the end of March 2014 by using bagasse and coal. The regulator has offered the sa

Published 08 Apr, 2010 12:00am

General Motors posts $4.3 billion loss for post-bankruptcy 2009

General Motors reported a post-bankruptcy 2009 net loss of 4.3 billion dollars Wednesday but said it hoped to achieve profitability in 2010. The new GM, which emerged from bankruptcy protection on July 10, achieved global revenues of 57.5 billion dollars

Published 08 Apr, 2010 12:00am

LSE index gains 51.11 points

The oil and banking sectors on Wednesday led the equities upward on the Lahore Stock Exchange (LSE) amid improved trading turnover on account of fresh entries by the local investors and the foreign funds. The LSE-25 index rose to 3324.69 against 3273.58 o

Published 08 Apr, 2010 12:00am

OECD sees short-term slowing in G7 recovery pace

The economic recovery seems to be at least temporarily losing pace in the developed world, where US growth is set to outstrip expansion in Japan and Europe, the OECD said on Wednesday. The Paris-based OECD published forecasts for the first and second quar

Published 08 Apr, 2010 12:00am

LSE index gains 51.11 points

The oil and banking sectors on Wednesday led the equities upward on the Lahore Stock Exchange (LSE) amid improved trading turnover on account of fresh entries by the local investors and the foreign funds. The LSE-25 index rose to 3324.69 against 3273.58 o

Published 08 Apr, 2010 12:00am

US copper drops

US copper futures finished Tuesday with moderate losses after setting a 21-month high as enthusiasm over recent strong US economic data fell prey to profit taking once the dollar advanced on the euro, traders said. Copper for May delivery ended 1.45 cents

Published 08 Apr, 2010 12:00am

Pakistan starts import of fish

Pakistan, a country in excess of $230 million seafood exports, has surprisingly started importing fish on a larger scale on an account of diminishing seafood stocks. Pangashius, a salt-water fish has started reaching the local markets with its canned fill

Published 08 Apr, 2010 12:00am

Shanghai copper falls

London copper futures edged lower on Wednesday, trading just short of $8,000 a tonne, after having surged to a 20-month high the previous day as worries persist whether fundamentals can sustain such high prices. Three-month copper on the London Metal Exch

Published 08 Apr, 2010 12:00am

Pakistan starts import of fish

Pakistan, a country in excess of $230 million seafood exports, has surprisingly started importing fish on a larger scale on an account of diminishing seafood stocks. Pangashius, a salt-water fish has started reaching the local markets with its canned fill

Published 08 Apr, 2010 12:00am

US rice settles up

US rice futures on the Chicago Board of Trade rallied to a near one-month high on Tuesday on short-covering and ideas the US Department of Agriculture might trim its US rice ending stocks figure this week, traders said. Optimism that rice market may have

Published 08 Apr, 2010 12:00am

Pakistan starts import of fish

Pakistan, a country in excess of $230 million seafood exports, has surprisingly started importing fish on a larger scale on an account of diminishing seafood stocks. Pangashius, a salt-water fish has started reaching the local markets with its canned fill

Published 08 Apr, 2010 12:00am

Tokyo rubber futures at 20-month high

Tokyo rubber futures hit a 20-month high on Wednesday on the back of strong oil prices and tight physical supply but profit-taking capped the gains, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for September delivery rose 3.

Published 08 Apr, 2010 12:00am

FBR to suffer revenue loss after VAT introduction

The Federal Board of Revenue will suffer revenue loss during transition from General Sales Tax to Value Added Tax after reduction in higher/multiple tax rates from July 1, 2010. Sources told Business Recorder here on Wednesday that the FBR has invi

Published 08 Apr, 2010 12:00am

New York sugar slides

Raw sugar futures settled easier Tuesday in choppy light dealings as players seemed to be mulling the next move of a volatile market as the second quarter got started in earnest, brokers said. The May raw sugar contract declined 0.51 cent or by 3.11 perce

Published 08 Apr, 2010 12:00am

FBR to suffer revenue loss after VAT introduction

The Federal Board of Revenue will suffer revenue loss during transition from General Sales Tax to Value Added Tax after reduction in higher/multiple tax rates from July 1, 2010. Sources told Business Recorder here on Wednesday that the FBR has invi

Published 08 Apr, 2010 12:00am

US soyabean rises

US soyabean futures on the Chicago Board of Trade closed higher on Tuesday, supported by short-covering and firm cash markets, traders said. May soyabeans ended up 8-1-2 cents at $9.44-1-2 per bushel but stayed inside of Monday's trading range. New-crop N

Published 08 Apr, 2010 12:00am

FBR to suffer revenue loss after VAT introduction

The Federal Board of Revenue will suffer revenue loss during transition from General Sales Tax to Value Added Tax after reduction in higher/multiple tax rates from July 1, 2010. Sources told Business Recorder here on Wednesday that the FBR has invi

Published 08 Apr, 2010 12:00am

Malaysian palm oil futures surge

Malaysian palm oil futures ended higher on Wednesday on the back of firmer soyoil markets although the surging ringgit currency nipped gains. Palm oil, which lost 4 percent in the first quarter of 2010, is making little headway as the ringgit reached mult

Published 08 Apr, 2010 12:00am

Banking system: some 758 fraud cases worth Rs 1.4 billion unearthed

Some 758 fresh cases of fraud and forgery, involving at least Rs 1.4 billion, have been unearthed in the banking system during the quarter ended September 2009, Business Recorder learnt Wednesday. Sources in the banking industry said fraud and forg

Published 08 Apr, 2010 12:00am

Oil ends steady near 18-month high in Asia

Oil was steady on Wednesday, trading near 18-month highs around $87 after a larger than expected drop in US gasoline stockpiles signalled fuel demand was rebounding with an improving economic outlook. US crude for May was unchanged at $86.84 at 0710 GMT,

Published 08 Apr, 2010 12:00am

Banking system: some 758 fraud cases worth Rs 1.4 billion unearthed

Some 758 fresh cases of fraud and forgery, involving at least Rs 1.4 billion, have been unearthed in the banking system during the quarter ended September 2009, Business Recorder learnt Wednesday. Sources in the banking industry said fraud and forg

Published 08 Apr, 2010 12:00am

US gold higher

US gold rose to a one-month high on Tuesday in the face of a stronger dollar, boosted by safe-haven demand driven by currency uncertainties and worries about Greece and some euro-zone economies. COMEX June settles up $2.20 at $1,136 an ounce. Range $1,123

Published 08 Apr, 2010 12:00am

Banking system: some 758 fraud cases worth Rs 1.4 billion unearthed

Some 758 fresh cases of fraud and forgery, involving at least Rs 1.4 billion, have been unearthed in the banking system during the quarter ended September 2009, Business Recorder learnt Wednesday. Sources in the banking industry said fraud and forg

Published 08 Apr, 2010 12:00am

Palladium, gold jump in Asian trade

Gold held near a 1-month high on Wednesday as renewed worries about debt-ridden Greece and volatile currencies boosted its safe-haven appeal, while steady purchases by autocatalyst makers sent palladium to 2-year highs. Spot gold was at $1,136.85 an ounce

Published 08 Apr, 2010 12:00am

PSO clarification

Reference to the news item published in Business Recorder on April 6th, 2010, "LPG filling stations: PSO decides not to accord exclusivity to any company," it is hereby clarified that PSO Board of Management (BOM) did not approve the LPG auto gas p

Published 08 Apr, 2010 12:00am

Afghanistan must not repeal amnesty law: minister

Repealing a law that grants a pardon for war crimes and rights abuses could further destabilise Afghanistan and scupper government efforts to reconcile with insurgents, the country's justice minister said. The Afghan government confirmed for the first tim

Published 08 Apr, 2010 12:00am

PSO clarification

Reference to the news item published in Business Recorder on April 6th, 2010, "LPG filling stations: PSO decides not to accord exclusivity to any company," it is hereby clarified that PSO Board of Management (BOM) did not approve the LPG auto gas p

Published 08 Apr, 2010 12:00am

Obama seeks momentum from Russia arms pact

US President Barack Obama leaves on Wednesday for Prague where he will sign a landmark nuclear treaty with Russia, marking a much-needed diplomatic achievement and a step toward better ties with Moscow. Obama hopes the agreement committing the two former

Published 08 Apr, 2010 12:00am

PSO clarification

Reference to the news item published in Business Recorder on April 6th, 2010, "LPG filling stations: PSO decides not to accord exclusivity to any company," it is hereby clarified that PSO Board of Management (BOM) did not approve the LPG auto gas p

Published 08 Apr, 2010 12:00am

White House hints Karzai visit could be in doubt

The United States Tuesday pointedly declined to call Afghan President Hamid Karzai an ally, and hinted his White House invitation could be withdrawn if he repeats his anti-foreigner outbursts. Frustration with the Afghan leader within President Barack Oba

Published 08 Apr, 2010 12:00am

A few leading sugar importers involved in ST evasion

A few leading industrial importers of sugar in Karachi and Lahore have been involved in massive evasion of sales tax, causing huge loss to the exchequer, sources said. Sources told Business Recorder on Wednesday that the Directorate General of Post

Published 08 Apr, 2010 12:00am

Israeli minister threatens to cut off water for Palestinians

An Israeli minister threatened on Wednesday to cut off some water supplies to Palestinians in the West Bank unless they stop dumping untreated sewage. "If the Palestinians continue to dump their waste water, polluting rivers and the aquifer, Israel will s

Published 08 Apr, 2010 12:00am

A few leading sugar importers involved in ST evasion

A few leading industrial importers of sugar in Karachi and Lahore have been involved in massive evasion of sales tax, causing huge loss to the exchequer, sources said. Sources told Business Recorder on Wednesday that the Directorate General of Post

Published 08 Apr, 2010 12:00am

Russia, Poland eye reconciliation at WWII mass grave

The leaders of Russia and Poland paid tribute on Wednesday to Russian and Polish victims of Soviet dictator Josef Stalin and vowed to overcome painful historic memories that still hamper their bilateral relations. At a sombre ceremony in Katyn forest, Pri

Published 08 Apr, 2010 12:00am

A few leading sugar importers involved in ST evasion

A few leading industrial importers of sugar in Karachi and Lahore have been involved in massive evasion of sales tax, causing huge loss to the exchequer, sources said. Sources told Business Recorder on Wednesday that the Directorate General of Post

Published 08 Apr, 2010 12:00am

Currency	Rate
USD PKR Interbank Selling / Dec 24	278.53
USD PKR Interbank Buying / Dec 24	278.33
USD to Japanese Yen / Dec 24	157.14
USD to Swiss Franc / Dec 24	0.90
Pound Sterling to USD / Dec 24	1.25
Euro to USD / Dec 24	1.04

Stock	Volume
Germany DAX 30 / Dec 23	19,848.77
S&P 500 / Dec 24	6,040.04
India Sensex / Dec 24	78,472.87
Tokyo Nikkei / Dec 24	38,986.40
Nasdaq / Dec 24	20,031.13
Hang Seng / Dec 24	20,098.29
FTSE 100 / Dec 24	8,136.99
Dow Jones / Dec 24	43,297.03

Item	Value
Crude Oil USD/Barrel / Dec 24	70.10
Karachi Cotton PKR/37.32 KG / Dec 24	17,785
Gold 10 Grams PKR / Dec 24	240,487.70
Gold Spot USD/Ounce / Dec 24	2,616.87
Cotton US¢/pound / Dec 24	68.78
Petrol/Litre / Dec 26	252.10

Stock	Price
Sec. Inv. Bank / Dec 24 Security Investment Bank Limited(SIBL)	5.99 ▲ 1.00 (20.04%)
Next Capital / Dec 24 Next Capital Limited(NEXT)	8.90 ▲ 1.00 (12.66%)
Pak Agro Pack. (GEM) / Dec 24 Pak Agro Packaging Limited (GEM)(GEMPAPL)	9 ▲ 1.00 (12.50%)
Ghani Chem. Ind. / Dec 24 Ghani Chemical Industries Limited(GCIL)	16.13 ▲ 1.47 (10.03%)
Pak Gulf Leasing / Dec 24 Pak-Gulf Leasing Company Limited(PGLC)	14.37 ▲ 1.31 (10.03%)
Popular Islamic / Dec 24 Popular Islamic Modaraba(PIM)	15.58 ▲ 1.42 (10.03%)
Mandviwala / Dec 24 Mandviwala Mauser Plastic Industries(MWMP)	16.59 ▲ 1.51 (10.01%)
Blessed Tex. / Dec 24 Blessed Textiles Limited(BTL)	301.77 ▲ 27.43 (10.00%)
Crescent Cotton / Dec 24 Crescent Cotton Mills Limited(CCM)	55 ▲ 5.00 (10.00%)

Stock	Price
S.G.Power / Dec 24 S.G. Power Limited(SGPL)	10.58 ▼ -1.18 (-10.03%)
Olympia Mills / Dec 24 Olympia Mills Limited(OML)	36 ▼ -4.00 (-10.00%)
J.A.Textile / Dec 24 J.A. Textile Mills Limited(JATM)	33.95 ▼ -3.77 (-9.99%)
Sanghar Sugar / Dec 24 Sanghar Sugar Mills Limited(SANSM)	26.16 ▼ -2.90 (-9.98%)
I.C.C. Ind. / Dec 24 ICC Industries Limited(ICCI)	9.85 ▼ -1.07 (-9.80%)
National Silk / Dec 24 The National Silk & Rayon Mills Limited(NSRM)	50.01 ▼ -5.43 (-9.79%)
Gulshan Sp. / Dec 24 Gulshan Spinning Mills Limited(GSPM)	4.10 ▼ -0.40 (-8.89%)
Crescent Fib. / Dec 24 Crescent Fibres Limited(CFL)	40.16 ▼ -3.81 (-8.66%)
Reliance Ins. / Dec 24 Reliance Insurance Company Limited(RICL)	11.55 ▼ -1.05 (-8.33%)

Stock	Volume
WorldCall Telecom / Dec 24 Worldcall Telecom Limited(WTL)	126,573,463 ▲ 0.05
Fauji Foods Ltd / Dec 24 Fauji Foods Limited(FFL)	66,984,381 ▲ 0.49
Cnergyico PK / Dec 24 Cnergyico PK Limited(CNERGY)	66,471,663 ▼ -0.27
Pak Elektron / Dec 24 Pak Elektron Limited(PAEL)	38,651,653 ▼ -1.53
K-Electric Ltd. / Dec 24 K-Electric Limited(KEL)	36,108,956 ▼ -0.18
Sui South Gas / Dec 24 Sui Southern Gas Company Limited(SSGC)	33,467,532 ▼ -0.50
P.T.C.L. / Dec 24 Pakistan Telecommunication Company Ltd(PTC)	33,030,118 ▼ -1.31
TRG Pak Ltd / Dec 24 TRG Pakistan Limited(TRG)	29,441,264 ▲ 3.35
Pace (Pak) Ltd. / Dec 24 Pace (Pakistan) Limited(PACE)	28,106,970 ▼ -0.18

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