News Archives for Print - 2010-04-15

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 14, 2010).

Published 15 Apr, 2010 12:00am

Power generation, transmission infrastructure: Gilani urges US to fast-track funding process

US Secretary of State Hillary Clinton and Chairman US Senate Foreign Relations Committee John Kerry called on Prime Minister Gilani prior to his departure to Pakistan. Gilani urged the US government to fast-track the funding process for undertaking the up

Published 15 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 14, 2010).

Published 15 Apr, 2010 12:00am

Power generation, transmission infrastructure: Gilani urges US to fast-track funding process

US Secretary of State Hillary Clinton and Chairman US Senate Foreign Relations Committee John Kerry called on Prime Minister Gilani prior to his departure to Pakistan. Gilani urged the US government to fast-track the funding process for undertaking the up

Published 15 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 14, 2010).

Published 15 Apr, 2010 12:00am

Anger as Arizona lawmakers pass immigration bill

Immigrant rights groups Wednesday slammed Arizona lawmakers after they approved a bill which will allow police officers to determine whether suspects are in the United States legally. Arizona's House of Representatives passed the bill by a margin of 35 vo

Published 15 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 15 Apr, 2010 12:00am

Anger as Arizona lawmakers pass immigration bill

Immigrant rights groups Wednesday slammed Arizona lawmakers after they approved a bill which will allow police officers to determine whether suspects are in the United States legally. Arizona's House of Representatives passed the bill by a margin of 35 vo

Published 15 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 15 Apr, 2010 12:00am

UN report on Benazir's murder today

The United Nations Commission, which looked into the facts and circumstances of the December 2007 assassination of Shaheed Benazir Bhutto, will unveil its much awaited report on Thursday afternoon, a world body's spokesman said. He said the 3-member commi

Published 15 Apr, 2010 12:00am

Karachi interbank rates

Karachi interbank rates on Wednesday (April 14, 2010).

Published 15 Apr, 2010 12:00am

UN report on Benazir's murder today

The United Nations Commission, which looked into the facts and circumstances of the December 2007 assassination of Shaheed Benazir Bhutto, will unveil its much awaited report on Thursday afternoon, a world body's spokesman said. He said the 3-member commi

Published 15 Apr, 2010 12:00am

New York cotton

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

Published 15 Apr, 2010 12:00am

US concerned Syria may supply Scuds to Hezbollah

The White House said Wednesday it was increasingly concerned about possible Syrian Scud missile sales to the Lebanese Hezbollah movement, a day after Israel raised the alarm. Israeli President Shimon Peres Tuesday accused Syria of supplying the Scuds but

Published 15 Apr, 2010 12:00am

New York cotton

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

Published 15 Apr, 2010 12:00am

US concerned Syria may supply Scuds to Hezbollah

The White House said Wednesday it was increasingly concerned about possible Syrian Scud missile sales to the Lebanese Hezbollah movement, a day after Israel raised the alarm. Israeli President Shimon Peres Tuesday accused Syria of supplying the Scuds but

Published 15 Apr, 2010 12:00am

Aaj TV - Thursday's schedule

All timings are in PST (Pakistan Standard Time).

Published 15 Apr, 2010 12:00am

Scientists see gene trigger for rare childhood baldness

Scientists said on Wednesday they had uncovered a gene that causes a rare but distressing form of childhood baldness, a finding that could help the quest to treat hair loss. Mutation in a gene called APCDD1 plays a key role in a disease called hereditary

Published 15 Apr, 2010 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 95,382 tonnes of cargo including 80,218 tonnes of import cargo; 15,164 tonnes of export cargo and 1,261 loaded and empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 80,218 tonnes com

Published 15 Apr, 2010 12:00am

Scientists see gene trigger for rare childhood baldness

Scientists said on Wednesday they had uncovered a gene that causes a rare but distressing form of childhood baldness, a finding that could help the quest to treat hair loss. Mutation in a gene called APCDD1 plays a key role in a disease called hereditary

Published 15 Apr, 2010 12:00am

US Midwest corn bids firmer, soya weaker

Corn spot basis bids firmed around the US Midwest on Tuesday as merchants attempted to spark country sales as producers concentrate on fieldwork, dealers said. Meanwhile soya spot basis bids were steady to slightly weaker, and wheat spot basis bids were f

Published 15 Apr, 2010 12:00am

British terrorism cop makes civil liberties warning

Britain's top counter-terrorism officer warned on Wednesday that the balance between defending civil liberties and national security was in danger of "getting out of kilter" and could damage efforts to stop future attacks. "One does wonder when one might

Published 15 Apr, 2010 12:00am

Hondura's coffee exports to fall

Honduran coffee exports could come in as low as 3.14 million 60-kg bags, or 11 percent below previous forecasts, the general manager of the national coffee institute said on Tuesday. IHCAFE had previously forecast exports would be 3.53 million 60-kg bags

Published 15 Apr, 2010 12:00am

British terrorism cop makes civil liberties warning

Britain's top counter-terrorism officer warned on Wednesday that the balance between defending civil liberties and national security was in danger of "getting out of kilter" and could damage efforts to stop future attacks. "One does wonder when one might

Published 15 Apr, 2010 12:00am

Canadian canola up

ICE Canadian canola futures closed higher on Tuesday as exporters covered shorts and the market got spillover support from stronger soy futures, traders said. Commercial hedge pressure held gains in check. Some of Canada's driest crop areas are forecast t

Published 15 Apr, 2010 12:00am

SBP directive to freight forwarders

The State Bank of Pakistan on Wednesday while changing the procedure for Master Bill of Lading (MBL) and Master Airway Bills (MAWB) asked the freight forwarders to mention the exporters'' name in the bill and not surrender bills to the carriers/agents in

Published 15 Apr, 2010 12:00am

US wheat futures higher

US wheat futures closed higher on Tuesday on follow-through technical buying and short covering after Monday's firm close. CBOT May soft red winter wheat up 8-1/4 cents at $4.76 per bushel. The wheat market was oversold and due for a bounce, traders said.

Published 15 Apr, 2010 12:00am

SBP directive to freight forwarders

The State Bank of Pakistan on Wednesday while changing the procedure for Master Bill of Lading (MBL) and Master Airway Bills (MAWB) asked the freight forwarders to mention the exporters' name in the bill and not surrender bills to the carriers/agents in P

Published 15 Apr, 2010 12:00am

Argentine soya prices rise

Argentine soya's closing prices and trends on Tuesday. In the main grains market of Rosario, soya prices closed up at between 860 and 870 pesos ($221 to $223) per tonne compared with 852 pesos in the previous session, boosted by gains in the influential C

Published 15 Apr, 2010 12:00am

SBP directive to freight forwarders

The State Bank of Pakistan on Wednesday while changing the procedure for Master Bill of Lading (MBL) and Master Airway Bills (MAWB) asked the freight forwarders to mention the exporters' name in the bill and not surrender bills to the carriers/agents in P

Published 15 Apr, 2010 12:00am

Burkina sees gold output to double

Burkina Faso expects almost double its gold output this year to 22 tonnes from 11.7 tonnes last year, the West African country's Mines Minister Abdoulaye Kader Cisse said late on Tuesday. Production has risen sharply from 5.5 tonnes in 2008 as new mines c

Published 15 Apr, 2010 12:00am

US, Euro banks criticised over cluster bombs

At least 146 financial institutions, including big name banks in the United States and Europe, are providing funding and services for producers of cluster bombs, a report said on Wednesday. The support, estimated currently at a total of $43 billion to sev

Published 15 Apr, 2010 12:00am

Zimbabwe's quarterly gold production surges

Zimbabwe's quarterly gold production surged to more than one and a half tonnes on the back of increased mine output, the Chamber of Mines said on Tuesday. The chamber said the country's quarterly production jumped to 1.667 tonnes, from zero production dur

Published 15 Apr, 2010 12:00am

US, Euro banks criticised over cluster bombs

At least 146 financial institutions, including big name banks in the United States and Europe, are providing funding and services for producers of cluster bombs, a report said on Wednesday. The support, estimated currently at a total of $43 billion to sev

Published 15 Apr, 2010 12:00am

US corn premiums firm

US corn export premiums at the Gulf of Mexico were steady to firm on Tuesday, supported by moderate overseas demand and steady to firm CIF barge basis values, traders said. US corn prices are competitive with Argentine corn into key markets in Asia and so

Published 15 Apr, 2010 12:00am

US, Euro banks criticised over cluster bombs

At least 146 financial institutions, including big name banks in the United States and Europe, are providing funding and services for producers of cluster bombs, a report said on Wednesday. The support, estimated currently at a total of $43 billion to sev

Published 15 Apr, 2010 12:00am

Oil caqke market rates

Slow trading was seen on the forward cottonseed oilcake market on Wednesday and prices showed modest rise, dealers said. The May contract which ended at Rs 998.60, showed nominal improvement of 10 paisa at opening at 998.70, dealers said. The new July vai

Published 15 Apr, 2010 12:00am

'18th Amendment cannot guarantee good governance'

A senior Parliamentarian and member of PCCR said the 18th Amendment Bill 2010 would block the way of bad governance, but it could not guarantee good governance. While participating in the debate on the Bill, S.M. Zafar said they had tried utmost to block

Published 15 Apr, 2010 12:00am

Solo, small deal struck on listless cotton market

Nominal business was seen on the cotton market on Wednesday as ginners raised the asking prices on falling unsold stock, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 5,700, dealers said. In the ready business a

Published 15 Apr, 2010 12:00am

'18th Amendment cannot guarantee good governance'

A senior Parliamentarian and member of PCCR said the 18th Amendment Bill 2010 would block the way of bad governance, but it could not guarantee good governance. While participating in the debate on the Bill, S.M. Zafar said they had tried utmost to block

Published 15 Apr, 2010 12:00am

Ceylon raw rubber higher on Jodia Bazar

The trading in Ceylon raw rubber closed higher on Jodia Bazar here on Wednesday. The following variations were noted.

Published 15 Apr, 2010 12:00am

No objection to 'Hazara province': Nawaz

Pakistan Muslim League (PML-N) chief Nawaz Sharif said on Wednesday that his party had no objection to the formation of Hazara province, Aaj News reported. According to the channel, he was addressing a press conference in Haripur. PML-N Chief said

Published 15 Apr, 2010 12:00am

Slow trade witnessed 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 lack of interest, dealers said. On the rice sector Irri-6 Sindh was higher by Rs 50 to Rs 2350-2375. Other types maintained the overn

Published 15 Apr, 2010 12:00am

No objection to 'Hazara province': Nawaz

Pakistan Muslim League (PML-N) chief Nawaz Sharif said on Wednesday that his party had no objection to the formation of Hazara province, Aaj News reported. According to the channel, he was addressing a press conference in Haripur. PML-N Chief said

Published 15 Apr, 2010 12:00am

US copper higher

US copper futures closed with strong gains on Tuesday as investors' risk tolerance went up following a successful Greek debt auction and higher US share prices, but traders said it was probably near the top of its short-term range. Copper for May delivery

Published 15 Apr, 2010 12:00am

PML-Q raises demand for 'Bahawalpur province': bill to be put to vote today

The 18th Constitutional Amendment will be put to vote today (Thursday) after a two-day general debate on the bill, which was concluded a with-wide support for it. Winding up the debate on the bill Wednesday in the Senate, Leader of the House Syed Nayyar H

Published 15 Apr, 2010 12:00am

Shanghai copper gains

London copper futures rose more than half a percent on Wednesday after a steady performance in the previous session, but markets are likely to hold to a narrow trading band until a slew of Chinese macro economic data including GDP is released on Thursday.

Published 15 Apr, 2010 12:00am

PML-Q raises demand for 'Bahawalpur province': bill to be put to vote today

The 18th Constitutional Amendment will be put to vote today (Thursday) after a two-day general debate on the bill, which was concluded a with-wide support for it. Winding up the debate on the bill Wednesday in the Senate, Leader of the House Syed Nayyar H

Published 15 Apr, 2010 12:00am

US rice drops

US rough rice futures on the Chicago Board of Trade fell on Tuesday on continued technical selling and profit-taking after last week's rally to a one-month high. May rice settled down 9 cents at $13.03 per cwt but rebounded off the day's low of $12.93. Ba

Published 15 Apr, 2010 12:00am

IMF rings alarm bells

The IMF announcement of expansion of its multinational facility known as New Arrangement to Borrow (NAB) has baffled the world. The NAB is a credit arrangement between the IMF and a group of members and institutions to provide supplementary resources to I

Published 15 Apr, 2010 12:00am

US soyabeans up

US soyabeans hit fresh two-week highs on Wednesday as traders scrounge around for supplies, with some US farmers waiting for better prices and the just-started South American harvest yet to hit the market in a major way. But the rally may not last long, w

Published 15 Apr, 2010 12:00am

IMF rings alarm bells

The IMF announcement of expansion of its multinational facility known as New Arrangement to Borrow (NAB) has baffled the world. The NAB is a credit arrangement between the IMF and a group of members and institutions to provide supplementary resources to I

Published 15 Apr, 2010 12:00am

US soya futures climb

US soyabean futures at the Chicago Board of Trade closed higher on Tuesday on a lack of cash selling by US and South American farmers, along with short-covering by commodity funds, traders said. May soyabeans ended up 8 cents at $9.68 per bushel; new-crop

Published 15 Apr, 2010 12:00am

IMF rings alarm bells

The IMF announcement of expansion of its multinational facility known as New Arrangement to Borrow (NAB) has baffled the world. The NAB is a credit arrangement between the IMF and a group of members and institutions to provide supplementary resources to I

Published 15 Apr, 2010 12:00am

New York sugar rises

Raw sugar futures closed higher Tuesday on investor short-covering as the market seems poised to extend a technical rebound after falling 8 consecutive weeks, brokers said. The May raw sugar contract gained 0.44 cent or 2.66 percent to end at 16.98 cents

Published 15 Apr, 2010 12:00am

LNG case: no contract till Supreme Court verdict: government

The government on Wednesday informed the Supreme Court that it would delay signing of liquefied natural gas (LNG) deal with French company GDF Suez for the import of liquefied natural gas till the apex court verdict. "No contract will be signed until the

Published 15 Apr, 2010 12:00am

Malaysian palm oil ends little changed

Malaysian palm oil futures made a little headway on Wednesday as firmer crude oil played tug-of-war with expectations of slower demand and improving production for this month. The benchmark June contract on the Bursa Malaysia Derivatives Exchange fell 3 r

Published 15 Apr, 2010 12:00am

LNG case: no contract till Supreme Court verdict: government

The government on Wednesday informed the Supreme Court that it would delay signing of liquefied natural gas (LNG) deal with French company GDF Suez for the import of liquefied natural gas till the apex court verdict. "No contract will be signed until the

Published 15 Apr, 2010 12:00am

US gold slips

US gold futures ended nearly 1 percent lower on Tuesday, on a combination of technical selling and profit taking following a price rally. COMEX June settles down $8.80 at $1,153.40 an ounce. Range $1,158.10 to $1,145.40. Investors take profits in overboug

Published 15 Apr, 2010 12:00am

LNG case: no contract till Supreme Court verdict: government

The government on Wednesday informed the Supreme Court that it would delay signing of liquefied natural gas (LNG) deal with French company GDF Suez for the import of liquefied natural gas till the apex court verdict. "No contract will be signed until the

Published 15 Apr, 2010 12:00am

Gold recovers on bargain hunting

Gold rose on bargain hunting on Wednesday and could challenge this week's peak on hopes that healthy GDP data from China, the world's second-largest bullion consumer, would further boost sentiment in commodities. Gold, which has gained on safe-haven buyin

Published 15 Apr, 2010 12:00am

Turkish rental power plant may arrive next month

The load shedding-hit country will get the supply of 232 megawatts from a barge-mounted Rental Power Plant (RPP), due to arrive here in Karachi next month, as the environmental impact assessment study of the project has been completed.

Published 15 Apr, 2010 12:00am

Oil rebounds in Asia

Oil prices rebounded in Asian trade Wednesday as the market reacted to forecasts of stronger energy demand by the International Energy Agency (IEA). New York's main contract, light sweet crude for delivery in May, climbed 34 cents to 84.39 dollars a barre

Published 15 Apr, 2010 12:00am

Turkish rental power plant may arrive next month

The load shedding-hit country will get the supply of 232 megawatts from a barge-mounted Rental Power Plant (RPP), due to arrive here in Karachi next month, as the environmental impact assessment study of the project has been completed.

Published 15 Apr, 2010 12:00am

RBS pares WorldPay bid list, UK payments firm out

Royal Bank of Scotland is whittling down the list of suitors for its 3 billion-pound ($4.6 billion) payment processing firm, with UK payments firm Voice Commerce and other suitors out of the running. About 10 buyout and trade firms made indicative bids fo

Published 15 Apr, 2010 12:00am

Turkish rental power plant may arrive next month

The load shedding-hit country will get the supply of 232 megawatts from a barge-mounted Rental Power Plant (RPP), due to arrive here in Karachi next month, as the environmental impact assessment study of the project has been completed.

Published 15 Apr, 2010 12:00am

Opec keeps oil demand forecast steady this year

The Opec oil producers' cartel held steady on Wednesday its forecast for modest growth in world oil demand this year, noting uncertainty about the pace of global economic recovery. "The world economic pulse is the variable that will determine the fate of

Published 15 Apr, 2010 12:00am

Tribal areas: US faces hurdles in aid spending

The US is spending far less than it wants on developing tribal areas, but expects to ramp up its projects there and throughout the country while relying more on Pakistani institutions to handle billions more in aid dollars pledged for the coming years, of

Published 15 Apr, 2010 12:00am

IMF sees high jobless in developed nations until 2011

The International Monetary Fund on Wednesday said it expected high rates of unemployment to continue in developed countries until the end of 2011, at an average rate of nine percent. "Persistently high unemployment may be the key policy challenge facing t

Published 15 Apr, 2010 12:00am

Tribal areas: US faces hurdles in aid spending

The US is spending far less than it wants on developing tribal areas, but expects to ramp up its projects there and throughout the country while relying more on Pakistani institutions to handle billions more in aid dollars pledged for the coming years, of

Published 15 Apr, 2010 12:00am

Greek parliament approves tax overhaul

Greece's parliament on Wednesday approved a sweeping tax overhaul designed to maximise the cash-strapped country's revenue as it battles an unprecedented debt crisis. "The tax bill has been approved by a majority," acting parliament speaker Grigoris Nioti

Published 15 Apr, 2010 12:00am

IMF assures Gilani of next tranche

Regional head South Asia of International Monetary Fund (IMF) assured Prime Minister Syed Yousuf Raza Gilani here late Tuesday that the IMF board in its upcoming meeting of May 3 would approve the release of next tranche for Pakistan.

Published 15 Apr, 2010 12:00am

Greece hit by new debt doubts, string of strikes

Greece suffered a new setback on Wednesday when its borrowing rate shot up again to above 7.0 percent, just as taxi drivers and lawyers began a new series of strikes against huge budget cuts. The Socialist government of Prime Minister George Papandreou fa

Published 15 Apr, 2010 12:00am

IMF assures Gilani of next tranche

Regional head South Asia of International Monetary Fund (IMF) assured Prime Minister Syed Yousuf Raza Gilani here late Tuesday that the IMF board in its upcoming meeting of May 3 would approve the release of next tranche for Pakistan.

Published 15 Apr, 2010 12:00am

Australian consumer confidence dips

A key measure of Australian consumer confidence fell slightly in April, as households took two straight interest rate hikes in stride and remained remarkably optimistic about jobs and house prices. The survey of 1,200 people by Westpac Bank and the Melbou

Published 15 Apr, 2010 12:00am

IMF assures Gilani of next tranche

Regional head South Asia of International Monetary Fund (IMF) assured Prime Minister Syed Yousuf Raza Gilani here late Tuesday that the IMF board in its upcoming meeting of May 3 would approve the release of next tranche for Pakistan.

Published 15 Apr, 2010 12:00am

Intel's revenue, margins beat views

Intel Corp delivered a current-quarter forecast for revenue and margins ahead of Wall Street expectations, boosting the chipmaker's stock by 4 percent. Intel, bolstering expectations of a recovery in the tech sector after businesses and consumers drastica

Published 15 Apr, 2010 12:00am

Quota to be allocated on ''first come first serve'' basis: tug of war between spinners, value added sector to continue

The tug of war between spinners and value added sector is expected to continue as a cap on the exports will remain in place with allocation of quota to be made on ''first come first serve'' basis. According to, sources in the ministry of textile industry

Published 15 Apr, 2010 12:00am

Toyota suspends sales of Lexus SUV

Toyota has suspended North American sales of its 2010 Lexus GX 460 after a US consumer magazine issued a safety warning, in the latest blow to the embattled Japanese automaker's reputation. Consumer Reports gave the sports utility vehicle a rare "Don't Bu

Published 15 Apr, 2010 12:00am

Quota to be allocated on 'first come first serve' basis: tug of war between spinners, value added sector to continue

The tug of war between spinners and value added sector is expected to continue as a cap on the exports will remain in place with allocation of quota to be made on 'first come first serve' basis. According to, sources in the ministry of textile industry an

Published 15 Apr, 2010 12:00am

Home loan demand slumps

US mortgage applications fell for a second straight week, with a slump in demand for government loans driving activity to its lowest level in three months, data from an industry group showed on Wednesday. Demand for home loan refinancing and purchase loan

Published 15 Apr, 2010 12:00am

Quota to be allocated on 'first come first serve' basis: tug of war between spinners, value added sector to continue

The tug of war between spinners and value added sector is expected to continue as a cap on the exports will remain in place with allocation of quota to be made on 'first come first serve' basis. According to, sources in the ministry of textile industry an

Published 15 Apr, 2010 12:00am

US retail sales up, recovery seen widening

Sales at US retailers rose more strongly than expected in March and firming domestic demand prompted businesses to rebuild inventories to a seven-month high in February, suggesting a broadening of the economic recovery.

Published 15 Apr, 2010 12:00am

J.P Morgan posts surging earnings

J.P. Morgan Chase on Wednesday reported a hefty jump in earnings to 3.3 billion dollars in the first quarter, as the massive US bank appeared to continue its journey back to health. The New York-based financial giant said the earnings compared with 2.1 bi

Published 15 Apr, 2010 12:00am

J.P Morgan posts surging earnings

J.P. Morgan Chase on Wednesday reported a hefty jump in earnings to 3.3 billion dollars in the first quarter, as the massive US bank appeared to continue its journey back to health. The New York-based financial giant said the earnings compared with 2.1 bi

Published 15 Apr, 2010 12:00am

Eurozone industrial output rises

Industrial output in Europe's core eurozone rose in February, beating analyst forecasts as the economy built on a strong January performance, official data showed on Wednesday. The Eurostat statistics agency said February industrial output in the 16-natio

Published 15 Apr, 2010 12:00am

US 'strongly' backs Russia's entry into WTO: official

Washington "strongly supports" Russia's entry into the World Trade Organisation, a top US official said Wednesday, amid renewed calls by Russia for quick admission to the global trade body. "The United States strongly supports Russia's accession to the WT

Published 15 Apr, 2010 12:00am

UBS chief apologises for bank's role in tax evasion

The chairman of UBS apologised Wednesday for the Swiss banking giant's role in helping some US clients evade taxes, but urged shareholders to waive their rights to sue former executives. "I am aware that UBS triggered this problem itself and we are deeply

Published 15 Apr, 2010 12:00am

Spain says must look for new growth areas

Unemployment is the biggest problem the Spanish government faces and it will need to look for new growth areas in order to combat it, Spanish Economy Secretary Jose Manuel Campa said on Wednesday. Spain enjoyed years of strong economic growth driven by a

Published 15 Apr, 2010 12:00am

South Korean Air operating profit surges on increased demand

South Korean flag carrier Korean Air announced Wednesday its operating profit rose more than 33-fold in the first quarter from a year earlier on increased demand. Operating profit for the three months ended March 31 soared to 220.2 billion won (197 millio

Published 15 Apr, 2010 12:00am

South Korean Air operating profit surges on increased demand

South Korean flag carrier Korean Air announced Wednesday its operating profit rose more than 33-fold in the first quarter from a year earlier on increased demand. Operating profit for the three months ended March 31 soared to 220.2 billion won (197 millio

Published 15 Apr, 2010 12:00am

US natgas output to fall as producers turn to oil

US natural gas production is set to decline amid tumbling prices as energy companies shift their focus toward more lucrative oil production, the chairman of US producer group Independent Petroleum Association of America said on Tuesday. While US natural g

Published 15 Apr, 2010 12:00am

Singapore roars back from recession

Singapore roared back from recession in the first quarter, the government said Wednesday, as it sharply raised its economic growth forecast and tightened monetary policy to check inflation. Preliminary estimates showed first quarter gross domestic product

Published 15 Apr, 2010 12:00am

EU warns Portugal to make new cuts amid market fears

Europe issued a stark warning on Wednesday that Portugal needs to cut its deficit this year, as finance chiefs steeled themselves for investors switching target from Greece. "The Portuguese stability programme is ambitious and quite concrete for the years

Published 15 Apr, 2010 12:00am

Juncker 'reassured' by markets over EU Greek bailout

The finance chief for the 16 euro countries, Luxembourg premier Jean-Claude Juncker, said on Tuesday he was "reassured" by market reaction to a 30-billion-euro backstop Greek bailout. "We took the right decision on Sunday ... I am reassured by the reactio

Published 15 Apr, 2010 12:00am

Shell halts 100,000 bpd output at Nigeria offshore field

Anglo-Dutch oil group Shell said Wednesday it had halted 100,000 barrels per day of output at Nigeria's EA offshore field in order to carry out repairs of key equipment. The company said in a statement the "EA field offshore western Niger Delta has been t

Published 15 Apr, 2010 12:00am

Daimler forecasts sales twice as strong as global market

German automaker Daimler said Wednesday it expected sales to accelerate twice as fast as the global car market this year after a punishing 2009. "Our sales objective is of course ambitious but realistic: we want to grow twice as fast as the global automob

Published 15 Apr, 2010 12:00am

Azerbaijan oil fund eyes investment in equity abroad

Oil-producing Azerbaijan is considering whether to begin investing in publicly traded shares abroad with cash from its $16 billion rainy-day oil fund, a senior fund official said on Tuesday. State oil fund chief investment officer Israfil Mammadov told Re

Published 15 Apr, 2010 12:00am

Abu Dhabi names new head to leading sovereign fund

Abu Dhabi's ruler on Wednesday named the brother of the former head of the world's largest sovereign wealth fund as its new managing director after his sibling died in a glider crash last month. Sheik Hamed bin Zayed Al Nahyan, a member of the oil-rich em

Published 15 Apr, 2010 12:00am

Apple delays world-wide release of iPad for a month

Apple said Wednesday it was delaying the world-wide release of the iPad for a month, until the end of May, because of heavy US demand. "Faced with this surprisingly strong US demand, we have made the difficult decision to postpone the international launch

Published 15 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	157.10
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
S&P 500 / Dec 23	5,974.07
Nasdaq / Dec 23	19,764.89
Dow Jones / Dec 23	42,906.95
Germany DAX 30 / Dec 23	19,848.77
India Sensex / Dec 24	78,616.57
Tokyo Nikkei / Dec 24	39,036.85
Hang Seng / Dec 24	20,098.29
FTSE 100 / Dec 24	8,130.86

Item	Value
Gold 10 Grams PKR / Dec 23	241,087.80
Petrol/Litre / Dec 24	252.10
Crude Oil USD/Barrel / Dec 24	69.54
Karachi Cotton PKR/37.32 KG / Dec 24	17,785
Gold Spot USD/Ounce / Dec 24	2,618.54
Diesel/Litre / Dec 24	255.38

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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