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Print - 2010-05-21
LSE-25 index down 21.43 points

LSE-25 index down 21.43 points

Negative sentiments prevailed on the Lahore Stock Exchange (LSE) where equities suffered more losses amid descending transaction volume on Thursday. The LSE-25 index lost 21.43 points and was closed at 3153.66 against 3175.09 of Wednesday while transactio
Published 21 May, 2010 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 21 May, 2010 12:00am
LSE-25 index down 21.43 points

LSE-25 index down 21.43 points

Negative sentiments prevailed on the Lahore Stock Exchange (LSE) where equities suffered more losses amid descending transaction volume on Thursday. The LSE-25 index lost 21.43 points and was closed at 3153.66 against 3175.09 of Wednesday while transactio
Published 21 May, 2010 12:00am
Blasphemy laws used to justify 'murder': EU parliament

Blasphemy laws used to justify 'murder': EU parliament

The EU parliament on Thursday called on Pakistan to guarantee minority rights, claiming that its blasphemy laws could be used to murder members of political, racial and religious minorities. In a resolution adopted in Strasbourg, the assembled Euro MPs ex
Published 21 May, 2010 12:00am
Blasphemy laws used to justify 'murder': EU parliament

Blasphemy laws used to justify 'murder': EU parliament

The EU parliament on Thursday called on Pakistan to guarantee minority rights, claiming that its blasphemy laws could be used to murder members of political, racial and religious minorities. In a resolution adopted in Strasbourg, the assembled Euro MPs ex
Published 21 May, 2010 12:00am
PTA blocks YouTube

PTA blocks YouTube

Pakistan Telecommunication Authority (PTA) on Thursday also blocked the video sharing website YouTube in a bid to contain blasphemous content available on it. The blockage came after PTA directed the Internet Service Providers (ISPs) to stop access to soc
Published 21 May, 2010 12:00am
PTA blocks YouTube

PTA blocks YouTube

Pakistan Telecommunication Authority (PTA) on Thursday also blocked the video sharing website YouTube in a bid to contain blasphemous content available on it. The blockage came after PTA directed the Internet Service Providers (ISPs) to stop access to soc
Published 21 May, 2010 12:00am
PTA blocks YouTube

PTA blocks YouTube

Pakistan Telecommunication Authority (PTA) on Thursday also blocked the video sharing website YouTube in a bid to contain blasphemous content available on it. The blockage came after PTA directed the Internet Service Providers (ISPs) to stop access to soc
Published 21 May, 2010 12:00am
US cartoonist issues apology to Muslims

US cartoonist issues apology to Muslims

An American cartoonist whose work inspired the controversial "Everybody Draw Mohammed Page" on Facebook has condemned the effort and issued an apology to Muslims. Molly Norris, of Seattle, drew a cartoon in April to protest the decision by the US televisi
Published 21 May, 2010 12:00am
US cartoonist issues apology to Muslims

US cartoonist issues apology to Muslims

An American cartoonist whose work inspired the controversial "Everybody Draw Mohammed Page" on Facebook has condemned the effort and issued an apology to Muslims. Molly Norris, of Seattle, drew a cartoon in April to protest the decision by the US televisi
Published 21 May, 2010 12:00am
Sugar import bill fattens by 600 percent

Sugar import bill fattens by 600 percent

The country''s sugar import bill has surged by some 600 percent during the current fiscal year mainly due to the low production and high demand, market sources said. Despite an agrarian country, the government is compelled to spend millions of dollars on
Published 21 May, 2010 12:00am
Sugar import bill fattens by 600 percent

Sugar import bill fattens by 600 percent

The country's sugar import bill has surged by some 600 percent during the current fiscal year mainly due to the low production and high demand, market sources said. Despite an agrarian country, the government is compelled to spend millions of dollars on t
Published 21 May, 2010 12:00am
Sugar import bill fattens by 600 percent

Sugar import bill fattens by 600 percent

The country's sugar import bill has surged by some 600 percent during the current fiscal year mainly due to the low production and high demand, market sources said. Despite an agrarian country, the government is compelled to spend millions of dollars on t
Published 21 May, 2010 12:00am
Planning Commission, Finance differ over fiscal year 2011 PSDP

Planning Commission, Finance differ over fiscal year 2011 PSDP

Differences have emerged between Planning Commission and Finance Ministry over the size of federal component of Public Sector Development Programme (PSDP) 2010-11 as the former has recommended Rs 400 billion against Rs 328.3 billion with operational short
Published 21 May, 2010 12:00am
Planning Commission, Finance differ over fiscal year 2011 PSDP

Planning Commission, Finance differ over fiscal year 2011 PSDP

Differences have emerged between Planning Commission and Finance Ministry over the size of federal component of Public Sector Development Programme (PSDP) 2010-11 as the former has recommended Rs 400 billion against Rs 328.3 billion with operational short
Published 21 May, 2010 12:00am
Planning Commission, Finance differ over fiscal year 2011 PSDP

Planning Commission, Finance differ over fiscal year 2011 PSDP

Differences have emerged between Planning Commission and Finance Ministry over the size of federal component of Public Sector Development Programme (PSDP) 2010-11 as the former has recommended Rs 400 billion against Rs 328.3 billion with operational short
Published 21 May, 2010 12:00am
4.5 percent growth rate eyed for fiscal year 2011

4.5 percent growth rate eyed for fiscal year 2011

Annual Plan Co-ordination Committee (APCC) scheduled to meet on Friday (today) is expected to recommend to the National Economic Council (NEC) to approve 4.5 percent Growth Domestic Product (GDP) growth rate for upcoming financial year 2010-11 premised on
Published 21 May, 2010 12:00am
4.5 percent growth rate eyed for fiscal year 2011

4.5 percent growth rate eyed for fiscal year 2011

Annual Plan Co-ordination Committee (APCC) scheduled to meet on Friday (today) is expected to recommend to the National Economic Council (NEC) to approve 4.5 percent Growth Domestic Product (GDP) growth rate for upcoming financial year 2010-11 premised on
Published 21 May, 2010 12:00am
4.5 percent growth rate eyed for fiscal year 2011

4.5 percent growth rate eyed for fiscal year 2011

Annual Plan Co-ordination Committee (APCC) scheduled to meet on Friday (today) is expected to recommend to the National Economic Council (NEC) to approve 4.5 percent Growth Domestic Product (GDP) growth rate for upcoming financial year 2010-11 premised on
Published 21 May, 2010 12:00am
Initial Rs 2.45 trillion outlay shows 6.9 percent budget deficit

Initial Rs 2.45 trillion outlay shows 6.9 percent budget deficit

The Finance Ministry has initially envisaged Rs 2,453 billion total outlay of the budget 2010-11 with Rs 1,711 billion tax revenue from the FBR and Rs 1,157 billion (6.9 percent of GDP) budget deficit, says an initial draft version of Budgetary Strategy P
Published 21 May, 2010 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (May 20, 2010).

Published 21 May, 2010 12:00am
Initial Rs 2.45 trillion outlay shows 6.9 percent budget deficit

Initial Rs 2.45 trillion outlay shows 6.9 percent budget deficit

The Finance Ministry has initially envisaged Rs 2,453 billion total outlay of the budget 2010-11 with Rs 1,711 billion tax revenue from the FBR and Rs 1,157 billion (6.9 percent of GDP) budget deficit, says an initial draft version of Budgetary Strategy P
Published 21 May, 2010 12:00am
Initial Rs 2.45 trillion outlay shows 6.9 percent budget deficit

Initial Rs 2.45 trillion outlay shows 6.9 percent budget deficit

The Finance Ministry has initially envisaged Rs 2,453 billion total outlay of the budget 2010-11 with Rs 1,711 billion tax revenue from the FBR and Rs 1,157 billion (6.9 percent of GDP) budget deficit, says an initial draft version of Budgetary Strategy P
Published 21 May, 2010 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (May 20, 2010).

Published 21 May, 2010 12:00am
Wall Street sinks

Wall Street sinks

US stocks dropped on Thursday, driving the Dow and the S&P 500 down more than 3 percent and pushing the Nasdaq down wore than 4 percent, on growing fears that the eurozone''s handling of its sovereign debt crisis could jeopardise the global economic recov
Published 21 May, 2010 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (May 20, 2010).
Published 21 May, 2010 12:00am
Wall Street sinks

Wall Street sinks

US stocks dropped on Thursday, driving the Dow and the S&P 500 down more than 3 percent and pushing the Nasdaq down wore than 4 percent, on growing fears that the eurozone's handling of its sovereign debt crisis could jeopardise the global economic recove
Published 21 May, 2010 12:00am
Wall Street sinks

Wall Street sinks

US stocks dropped on Thursday, driving the Dow and the S&P 500 down more than 3 percent and pushing the Nasdaq down wore than 4 percent, on growing fears that the eurozone's handling of its sovereign debt crisis could jeopardise the global economic recove
Published 21 May, 2010 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Thursday (May 20, 2010).

Published 21 May, 2010 12:00am
BRIndex30 down 72.58 points

BRIndex30 down 72.58 points

On Thursday, BRIndex30 opened at 8,156.86. It closed at 8,084.28 with a net negative change of -72.58 points and percentage change of -0.89. It experienced intra-day high of 8,182.43 and intra-day low of 8,058.34. The volume amounted to 50,596,366, which
Published 21 May, 2010 12:00am
BRIndex30 down 72.58 points

BRIndex30 down 72.58 points

On Thursday, BRIndex30 opened at 8,156.86. It closed at 8,084.28 with a net negative change of -72.58 points and percentage change of -0.89. It experienced intra-day high of 8,182.43 and intra-day low of 8,058.34. The volume amounted to 50,596,366, which
Published 21 May, 2010 12:00am
No let-up in bearish trend

No let-up in bearish trend

Bearish trend continued at the Karachi share market on Thursday and the KSE-100 index lost another 56.64 points to close below the 10,000 psychological level at 9,993.40 points. After opening in negative, some support was witnessed after buying in some se
Published 21 May, 2010 12:00am
No let-up in bearish trend

No let-up in bearish trend

Bearish trend continued at the Karachi share market on Thursday and the KSE-100 index lost another 56.64 points to close below the 10,000 psychological level at 9,993.40 points. After opening in negative, some support was witnessed after buying in some se
Published 21 May, 2010 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (May 20, 2010).

Published 21 May, 2010 12:00am
No let-up in bearish trend

No let-up in bearish trend

Bearish trend continued at the Karachi share market on Thursday and the KSE-100 index lost another 56.64 points to close below the 10,000 psychological level at 9,993.40 points. After opening in negative, some support was witnessed after buying in some se
Published 21 May, 2010 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Thursday (May 20, 2010).

Published 21 May, 2010 12:00am
Faysal Bank wins bid for RBS Pakistan

Faysal Bank wins bid for RBS Pakistan

Faysal Bank won a bid for Royal Bank of Scotland''s Pakistan operations, a source said on Thursday, allowing its Bahrain-based parent Ithmaar to expand its retail presence in the area. Pakistan lender Faysal, which is 68 percent owned by Ithmaar, beat Egy
Published 21 May, 2010 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (May 20, 2010).

Published 21 May, 2010 12:00am
Faysal Bank wins bid for RBS Pakistan

Faysal Bank wins bid for RBS Pakistan

Faysal Bank won a bid for Royal Bank of Scotland's Pakistan operations, a source said on Thursday, allowing its Bahrain-based parent Ithmaar to expand its retail presence in the area. Pakistan lender Faysal, which is 68 percent owned by Ithmaar, beat Egyp
Published 21 May, 2010 12:00am
Barclays bid rates and maximum rates for payment of interest

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 21 May, 2010 12:00am
Faysal Bank wins bid for RBS Pakistan

Faysal Bank wins bid for RBS Pakistan

Faysal Bank won a bid for Royal Bank of Scotland's Pakistan operations, a source said on Thursday, allowing its Bahrain-based parent Ithmaar to expand its retail presence in the area. Pakistan lender Faysal, which is 68 percent owned by Ithmaar, beat Egyp
Published 21 May, 2010 12:00am
State Bank of Pakistan conversion rates

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 21 May, 2010 12:00am
Value Added Tax: differences between federal, Sindh governments persist

Value Added Tax: differences between federal, Sindh governments persist

The differences between Federal and Sindh governments persisted over Value Added Tax (VAT) even at a meeting in the Presidency here on Thursday as representative of Sindh did not agree to give up their right to collect VAT on services. Sources said that o
Published 21 May, 2010 12:00am
Value Added Tax: differences between federal, Sindh governments persist

Value Added Tax: differences between federal, Sindh governments persist

The differences between Federal and Sindh governments persisted over Value Added Tax (VAT) even at a meeting in the Presidency here on Thursday as representative of Sindh did not agree to give up their right to collect VAT on services. Sources said that o
Published 21 May, 2010 12:00am
New York cotton

New York cotton

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

Published 21 May, 2010 12:00am
Value Added Tax: differences between federal, Sindh governments persist

Value Added Tax: differences between federal, Sindh governments persist

The differences between Federal and Sindh governments persisted over Value Added Tax (VAT) even at a meeting in the Presidency here on Thursday as representative of Sindh did not agree to give up their right to collect VAT on services. Sources said that o
Published 21 May, 2010 12:00am
New York cotton

New York cotton

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

Published 21 May, 2010 12:00am
George Washington's library book returned - 221 years late

George Washington's library book returned - 221 years late

New York's oldest library can finally fill a gap left on its shelves two centuries ago when George Washington borrowed a book and failed to bring it back. The first US president took "The Law of Nations" by Emer de Vattel from the New York Society Library
Published 21 May, 2010 12:00am
George Washington's library book returned - 221 years late

George Washington's library book returned - 221 years late

New York's oldest library can finally fill a gap left on its shelves two centuries ago when George Washington borrowed a book and failed to bring it back. The first US president took "The Law of Nations" by Emer de Vattel from the New York Society Library
Published 21 May, 2010 12:00am
Canadian canola futures higher

Canadian canola futures higher

ICE Canadian canola futures closed higher on Wednesday as both Canadian and US currencies turned favourably weaker, traders said. Exporter and crusher buying seen as weaker Canadian dollar makes exports more attractive and supports crush margins. Weaker U
Published 21 May, 2010 12:00am
South Africa raises maize output forecast

South Africa raises maize output forecast

South Africa further increased its forecast for the country's biggest maize crop in almost 30 years but said on Thursday that heavy rains had prevented a still higher assessment of the crop and slowed harvesting. South Africa - the continent's biggest mai
Published 21 May, 2010 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 173,915 tonnes of cargo including 131,293 tonnes of import cargo; 42,622 tonnes of export cargo and 6,092 loaded and empty containers during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 131,293 tonnes c
Published 21 May, 2010 12:00am
Oil cake market rates

Oil cake market rates

Divergent trend was witnessed on the forward cottonseed oilcake market on Thursday, dealers said. The May contract had ended at Rs 1107.30, opened with a sharp decline of Rs 4.00 at Rs 1103.30, dealers said. The July vaida that closed at Rs 971.10 opened
Published 21 May, 2010 12:00am
Cotton circles keenly await government's intervention outcome

Cotton circles keenly await government's intervention outcome

Official spot rate saved from further decline on the cotton market on Thursday as any positive outcome is keenly watched by the cotton circles after the expected discussions between the government and textile mills, dealers said. The Karachi Cotton Associ
Published 21 May, 2010 12:00am
Nominal business on grain market due to disturbances

Nominal business on grain market due to disturbances

Nominal business was seen on the wholesale grain and seed market on Thursday after nearly 24 people lost their lives in Karachi as a result of target killing, dealers said. On the cereals side gur low type maintained its overnight levels while the best ty
Published 21 May, 2010 12:00am
Cotton business remains suspended

Cotton business remains suspended

Cotton business remained at a virtual standstill for the second week in a row in the domestic market due to continuing imbroglios between the spinners and the value added textile sector after the government imposed regularity duty (RD) on yarn exports on
Published 21 May, 2010 12:00am
Cotton business remains suspended

Cotton business remains suspended

Cotton business remained at a virtual standstill for the second week in a row in the domestic market due to continuing imbroglios between the spinners and the value added textile sector after the government imposed regularity duty (RD) on yarn exports on
Published 21 May, 2010 12:00am
Taiwan's economy grows at fastest pace in over 30 years

Taiwan's economy grows at fastest pace in over 30 years

Taiwan said Thursday its economy grew at its fastest pace in more than 30 years during the first quarter of 2010, thanks to strong demand for exports in markets such as China. The 13.27 percent year-on-year jump in gross domestic product cements the islan
Published 21 May, 2010 12:00am
Wall Street overhaul fails to clear US Senate hurdle

Wall Street overhaul fails to clear US Senate hurdle

The US Senate failed Wednesday to end debate on the most sweeping overhaul of financial industry rules since the Great Depression of the 1930s, clouding the fate of a key White House priority. Lawmakers voted 57-42 to move to final passage of the legislat
Published 21 May, 2010 12:00am
Europe crisis threatens US economy, banks: Fed

Europe crisis threatens US economy, banks: Fed

Europe's debt crisis poses a "potentially serious" risk to the US economic recovery because it threatens global credit markets and international commerce, a top Federal Reserve official said on Thursday. Fed Governor Daniel Tarullo said Europe's debt woes
Published 21 May, 2010 12:00am
30-year mortgage rate falls close to record low

30-year mortgage rate falls close to record low

US 30-year mortgage rates fell in the past week to the lowest level since early December, near record lows, with shorter-term home loans at new all-time lows, home funding company Freddie Mac said on Thursday. The 30-year rate averaged 4.84 percent in the
Published 21 May, 2010 12:00am
US jobless claims jump

US jobless claims jump

The number of US workers filing new applications for unemployment benefits unexpectedly rose last week for the first time since early April, suggesting the labour market recovery has hit a stumbling block. But a rise in manufacturing activity in the natio
Published 21 May, 2010 12:00am
China tells US to put fiscal house in order

China tells US to put fiscal house in order

Europe's debt crisis has laid bare the fragility of global finances and the United States, too, must tame its fiscal deficit, a senior Chinese official said on Thursday, spelling out Beijing's concerns before talks with Washington.
Published 21 May, 2010 12:00am
Air France-KLM eyes breakeven after record loss

Air France-KLM eyes breakeven after record loss

Air France-KLM shook off last month's volcanic ash crisis and predicted a return to breakeven this year after record losses for the 12 months to March 31, which ended on a note of economic recovery. The Franco-Dutch airline group confirmed its outlook for
Published 21 May, 2010 12:00am
US bank earnings improve

US bank earnings improve

The overall health of the US banking industry improved in the first quarter as net income set a two-year-high of $18 billion, but the largest firms enjoyed a disproportionate share of the gains. The Federal Deposit Insurance Corp provided a mixed picture
Published 21 May, 2010 12:00am
New Zealand cuts personal, corporate tax to boost growth

New Zealand cuts personal, corporate tax to boost growth

New Zealand unveiled the biggest tax shake-up for a quarter of a century Thursday, cutting personal and corporate taxes while raising sales taxes to promote economic growth. Finance Minister Bill English announced the goods and services tax (GST) rate wil
Published 21 May, 2010 12:00am
Restoring confidence in euro top priority: Merkel

Restoring confidence in euro top priority: Merkel

  • Germany said restoring confidence in the euro was its "top priority", demanding tougher regulation and oversight on Thursday to protect the single currency, and joint EU action on withdrawing support for its economies. German Chancellor Angela Merkel sa
Published 21 May, 2010 12:00am
Sarkozy eyes German-style rules on deficit

Sarkozy eyes German-style rules on deficit

French President Nicolas Sarkozy unveiled plans on Thursday to ensure that tackling the country's ballooning deficit was enshrined in the French constitution, bringing France closer to Germany's approach on state deficits. Sarkozy said he wanted French go
Published 21 May, 2010 12:00am
British Airways union wins court appeal over strike ruling

British Airways union wins court appeal over strike ruling

A British Airways cabin crew trade union won an appeal on Thursday against a court injunction brought in this week to stop a new wave of walkouts by the airline's staff. Seeking a settlement, the Unite union said BA crews would go on strike for five days
Published 21 May, 2010 12:00am