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Print - 2010-07-18
TCP annuls sugar contract

TCP annuls sugar contract

The Trading Corporation of Pakistan (TCP) has annulled 100,000 tons sugar contract with M/s Yunan Coal Chemical Industry Group Co Limited, represented in Pakistan by the son-in-law of a former Secretary Defence and a close relative of Prime Minister, Syed
Published 18 Jul, 2010 12:00am
TCP annuls sugar contract

TCP annuls sugar contract

The Trading Corporation of Pakistan (TCP) has annulled 100,000 tons sugar contract with M/s Yunan Coal Chemical Industry Group Co Limited, represented in Pakistan by the son-in-law of a former Secretary Defence and a close relative of Prime Minister, Syed
Published 18 Jul, 2010 12:00am
TCP annuls sugar contract

TCP annuls sugar contract

The Trading Corporation of Pakistan (TCP) has annulled 100,000 tons sugar contract with M/s Yunan Coal Chemical Industry Group Co Limited, represented in Pakistan by the son-in-law of a former Secretary Defence and a close relative of Prime Minister, Syed
Published 18 Jul, 2010 12:00am
Holbrooke assures help to execute FoDP projects

Holbrooke assures help to execute FoDP projects

US Special Representative for Afghanistan and Pakistan, Ambassador Richard Holbrooke on Saturday said all the members of the Friends of Democratic Pakistan (FoDP) should ensure full implementation on the projects identified in the meeting of senior offici
Published 18 Jul, 2010 12:00am
Holbrooke assures help to execute FoDP projects

Holbrooke assures help to execute FoDP projects

US Special Representative for Afghanistan and Pakistan, Ambassador Richard Holbrooke on Saturday said all the members of the Friends of Democratic Pakistan (FoDP) should ensure full implementation on the projects identified in the meeting of senior offici
Published 18 Jul, 2010 12:00am
Holbrooke assures help to execute FoDP projects

Holbrooke assures help to execute FoDP projects

US Special Representative for Afghanistan and Pakistan, Ambassador Richard Holbrooke on Saturday said all the members of the Friends of Democratic Pakistan (FoDP) should ensure full implementation on the projects identified in the meeting of senior offici
Published 18 Jul, 2010 12:00am
Pakistan economy: noble ''friends'' should honour commitments

Pakistan economy: noble ''friends'' should honour commitments

Foreign Minister Shah Mahmood Qureshi on Saturday called upon the friendly countries, international donors and world community to honour their commitments made at the Tokyo Conference to help Pakistan reconstruct and rehabilitate its economy that endured
Published 18 Jul, 2010 12:00am
Pakistan economy: noble 'friends' should honour commitments

Pakistan economy: noble 'friends' should honour commitments

Foreign Minister Shah Mahmood Qureshi on Saturday called upon the friendly countries, international donors and world community to honour their commitments made at the Tokyo Conference to help Pakistan reconstruct and rehabilitate its economy that endured
Published 18 Jul, 2010 12:00am
Pakistan economy: noble 'friends' should honour commitments

Pakistan economy: noble 'friends' should honour commitments

Foreign Minister Shah Mahmood Qureshi on Saturday called upon the friendly countries, international donors and world community to honour their commitments made at the Tokyo Conference to help Pakistan reconstruct and rehabilitate its economy that endured
Published 18 Jul, 2010 12:00am
FBR must clarify status of STRNs: ITBA

FBR must clarify status of STRNs: ITBA

The Federal Board of Revenue (FBR) is still accepting the sales tax registration numbers (STRNs) as a legal registration document despite issuance of a notification that only National Tax Number (NTN) would be used for both the registrations of income tax
Published 18 Jul, 2010 12:00am
FBR must clarify status of STRNs: ITBA

FBR must clarify status of STRNs: ITBA

The Federal Board of Revenue (FBR) is still accepting the sales tax registration numbers (STRNs) as a legal registration document despite issuance of a notification that only National Tax Number (NTN) would be used for both the registrations of income tax
Published 18 Jul, 2010 12:00am
FBR must clarify status of STRNs: ITBA

FBR must clarify status of STRNs: ITBA

The Federal Board of Revenue (FBR) is still accepting the sales tax registration numbers (STRNs) as a legal registration document despite issuance of a notification that only National Tax Number (NTN) would be used for both the registrations of income tax
Published 18 Jul, 2010 12:00am
Collectors told not to charge 10 percent FED on car ACs

Collectors told not to charge 10 percent FED on car ACs

After a delay of over 40 days, the Federal Board of Revenue has informed the collectors of customs not to charge 10 percent Federal Excise Duty on cars air-conditioners, giving customs an opportunity to charge the levy at the import stage between June 6 -
Published 18 Jul, 2010 12:00am
Collectors told not to charge 10 percent FED on car ACs

Collectors told not to charge 10 percent FED on car ACs

After a delay of over 40 days, the Federal Board of Revenue has informed the collectors of customs not to charge 10 percent Federal Excise Duty on cars air-conditioners, giving customs an opportunity to charge the levy at the import stage between June 6 -
Published 18 Jul, 2010 12:00am
Collectors told not to charge 10 percent FED on car ACs

Collectors told not to charge 10 percent FED on car ACs

After a delay of over 40 days, the Federal Board of Revenue has informed the collectors of customs not to charge 10 percent Federal Excise Duty on cars air-conditioners, giving customs an opportunity to charge the levy at the import stage between June 6 -
Published 18 Jul, 2010 12:00am
Regulators close eight US banks with $2 billion assets

Regulators close eight US banks with $2 billion assets

Regulators closed eight US-insured banks with combined assets of $2 billion on Friday, raising the number of failed banks to 96 this year, said the Federal Deposit Insurance Corp. NAFH National Bank of Miami will take over three of the banks, which togeth
Published 18 Jul, 2010 12:00am
Regulators close eight US banks with $2 billion assets

Regulators close eight US banks with $2 billion assets

Regulators closed eight US-insured banks with combined assets of $2 billion on Friday, raising the number of failed banks to 96 this year, said the Federal Deposit Insurance Corp. NAFH National Bank of Miami will take over three of the banks, which togeth
Published 18 Jul, 2010 12:00am
Regulators close eight US banks with $2 billion assets

Regulators close eight US banks with $2 billion assets

Regulators closed eight US-insured banks with combined assets of $2 billion on Friday, raising the number of failed banks to 96 this year, said the Federal Deposit Insurance Corp. NAFH National Bank of Miami will take over three of the banks, which togeth
Published 18 Jul, 2010 12:00am
US-backed transit trade deal likely to be signed today

US-backed transit trade deal likely to be signed today

Pakistan and Afghanistan are expected to sign the Washington-supported transit trade agreement on Sunday (today) and Afghan Finance Minister Hazrat Omar Zakhilwal has joined his negotiating team headed by Commerce Minister Anwar ul Haq Ahadi, in Islamabad
Published 18 Jul, 2010 12:00am
US-backed transit trade deal likely to be signed today

US-backed transit trade deal likely to be signed today

Pakistan and Afghanistan are expected to sign the Washington-supported transit trade agreement on Sunday (today) and Afghan Finance Minister Hazrat Omar Zakhilwal has joined his negotiating team headed by Commerce Minister Anwar ul Haq Ahadi, in Islamabad
Published 18 Jul, 2010 12:00am
US-backed transit trade deal likely to be signed today

US-backed transit trade deal likely to be signed today

Pakistan and Afghanistan are expected to sign the Washington-supported transit trade agreement on Sunday (today) and Afghan Finance Minister Hazrat Omar Zakhilwal has joined his negotiating team headed by Commerce Minister Anwar ul Haq Ahadi, in Islamabad
Published 18 Jul, 2010 12:00am
GST on services, Bhasha Dam funding top agenda: CCI meeting today

GST on services, Bhasha Dam funding top agenda: CCI meeting today

The Council of Common Interests (CCI) meets today (Sunday) to discuss general sales tax (GST) on services, the conditionalities of international donor agencies for release of funds to undertake construction of Diamer Bhasha Dam and deliberate upon resolvi
Published 18 Jul, 2010 12:00am
GST on services, Bhasha Dam funding top agenda: CCI meeting today

GST on services, Bhasha Dam funding top agenda: CCI meeting today

The Council of Common Interests (CCI) meets today (Sunday) to discuss general sales tax (GST) on services, the conditionalities of international donor agencies for release of funds to undertake construction of Diamer Bhasha Dam and deliberate upon resolvi
Published 18 Jul, 2010 12:00am
GST on services, Bhasha Dam funding top agenda: CCI meeting today

GST on services, Bhasha Dam funding top agenda: CCI meeting today

The Council of Common Interests (CCI) meets today (Sunday) to discuss general sales tax (GST) on services, the conditionalities of international donor agencies for release of funds to undertake construction of Diamer Bhasha Dam and deliberate upon resolvi
Published 18 Jul, 2010 12:00am
Brief normalcy returns to IHK

Brief normalcy returns to IHK

Schools, shops and offices reopened in held Kashmir on Saturday after being shut by weeks of anti-India protests but more closures loomed in the restive region. The reopening came after calls by APHC to resume "normal" life for a day that sent shoppers fl
Published 18 Jul, 2010 12:00am
Brief normalcy returns to IHK

Brief normalcy returns to IHK

Schools, shops and offices reopened in held Kashmir on Saturday after being shut by weeks of anti-India protests but more closures loomed in the restive region. The reopening came after calls by APHC to resume "normal" life for a day that sent shoppers fl
Published 18 Jul, 2010 12:00am
Indian media slams Pakistan over talks' 'failure'

Indian media slams Pakistan over talks' 'failure'

Indian newspapers on Saturday blamed Pakistan's foreign minister Shah Mehmood Qureshi for the "failure" of peace talks earlier in the week between the two countries. "Qureshi kills peace talks," read a headline on the front page of leading circulation dai
Published 18 Jul, 2010 12:00am
Indian media slams Pakistan over talks' 'failure'

Indian media slams Pakistan over talks' 'failure'

Indian newspapers on Saturday blamed Pakistan's foreign minister Shah Mehmood Qureshi for the "failure" of peace talks earlier in the week between the two countries. "Qureshi kills peace talks," read a headline on the front page of leading circulation dai
Published 18 Jul, 2010 12:00am
No visit just for sake of visit: Qureshi

No visit just for sake of visit: Qureshi

Foreign Minister Shah Mehmood Qureshi said that he would visit India only for meaningful and result-oriented talks. "I will not visit India just for the sake of a visit," said Qureshi here on Saturday while addressing a joint news conference with Baroness
Published 18 Jul, 2010 12:00am
No visit just for sake of visit: Qureshi

No visit just for sake of visit: Qureshi

Foreign Minister Shah Mehmood Qureshi said that he would visit India only for meaningful and result-oriented talks. "I will not visit India just for the sake of a visit," said Qureshi here on Saturday while addressing a joint news conference with Baroness
Published 18 Jul, 2010 12:00am
Talks will go on: Pakistan, India

Talks will go on: Pakistan, India

Nuclear-armed India and Pakistan said Saturday they would press ahead with a dialogue to build ties shattered by the Mumbai carnage after talks in Islamabad ended in an acrimonious stalemate. The statements came after a visit by Indian Foreign Minister S.
Published 18 Jul, 2010 12:00am
Talks will go on: Pakistan, India

Talks will go on: Pakistan, India

Nuclear-armed India and Pakistan said Saturday they would press ahead with a dialogue to build ties shattered by the Mumbai carnage after talks in Islamabad ended in an acrimonious stalemate. The statements came after a visit by Indian Foreign Minister S.
Published 18 Jul, 2010 12:00am
Two British, two US soldiers die in Afghanistan

Two British, two US soldiers die in Afghanistan

Two British and two American soldiers have died in Taliban-style bomb attacks in Afghanistan, Nato and British authorities said Saturday. One British and one American soldier were killed in two attacks on Saturday while the other troopers died a day earli
Published 18 Jul, 2010 12:00am
Two British, two US soldiers die in Afghanistan

Two British, two US soldiers die in Afghanistan

Two British and two American soldiers have died in Taliban-style bomb attacks in Afghanistan, Nato and British authorities said Saturday. One British and one American soldier were killed in two attacks on Saturday while the other troopers died a day earli
Published 18 Jul, 2010 12:00am
Militant attack kills 18 in Kurram district

Militant attack kills 18 in Kurram district

Eighteen people were killed and four injured on Saturday when militants opened fire on a vehicle convoy escorted by security forces in Kurram district, officials said. Gunmen attacked the two minibuses with assault rifles and rocket propelled grenades as
Published 18 Jul, 2010 12:00am
Militant attack kills 18 in Kurram district

Militant attack kills 18 in Kurram district

Eighteen people were killed and four injured on Saturday when militants opened fire on a vehicle convoy escorted by security forces in Kurram district, officials said. Gunmen attacked the two minibuses with assault rifles and rocket propelled grenades as
Published 18 Jul, 2010 12:00am
Your rupee last half year

Your rupee last half year

Following currency fluctuations took place in foreign exchange rates during the last half year. (January 02 to June 30, 2010).

Published 18 Jul, 2010 12:00am
The Weather

The Weather

The weather report on Saturday (July 17, 2010) and the forecast for Sunday (July 18, 2010).

Published 18 Jul, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Saturday (July 17, 2010) and for Sunday (July 18, 2010).
Published 18 Jul, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Rates of Pipe Fittings

Rates of Pipe Fittings

Pipe fitting rates in rupees prevailing in the markets in Karachi on Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Iron, steel and other metal rates

Iron, steel and other metal rates

Iron, steel and other metal rates in rupees prevailing on the commodity markets in Karachi on Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (July 17, 2010).

Published 18 Jul, 2010 12:00am
Prices move both ways amid modest trade on seed, grain market

Prices move both ways amid modest trade on seed, grain market

Prices moved both ways on the wholesale grain and seed market on Saturday as a few buyers were active in making deals to cover the short-term needs, dealers said. On the cereals side wheat old and new (Bardana) with bag were down by Rs 10 to Rs 2340-2355,
Published 18 Jul, 2010 12:00am
Oil cake market rates

Oil cake market rates

Upward trend was seen on the forward cottonseed oilcake market on Saturday during the day, dealers said. The July contract that had closed at Rs 983.60 opened with 50 paisa gain at Rs 984.10, dealers said. The December vaida which ended at Rs 958.20 picke
Published 18 Jul, 2010 12:00am
Spot rate, lint, phutti prices nosedive as cotton market crashes

Spot rate, lint, phutti prices nosedive as cotton market crashes

Drastic cut was seen in ready and the spot rate on the cotton market on Saturday in a single session, thus, since the week started, the rates fell by Rs 2000 to Rs 5300, dealers said. The Karachi Cotton Association (KCA) official spot rate was brought dow
Published 18 Jul, 2010 12:00am
US Plains HRW wheat bids steady

US Plains HRW wheat bids steady

Cash bids for hard red winter wheat in the US Plains were steady to weaker Friday amid active farmer sales and a weaker tone at the Gulf export channel. Merchants said farmer selling remained strong due to advances in futures prices at the Kansas City Boa
Published 18 Jul, 2010 12:00am
EU wheat prices may rise more but not repeat 2007-08 record

EU wheat prices may rise more but not repeat 2007-08 record

European wheat prices could climb further if weather concerns in Europe and the Black Sea region deepen, but some key fundamentals are likely to prevent prices from surging to records seen in 2007/2008. European Union wheat prices sky-rocketed on Thursday
Published 18 Jul, 2010 12:00am
ICO sees Ivorian cocoa crop at 1.3 million tonnes in 2010-11

ICO sees Ivorian cocoa crop at 1.3 million tonnes in 2010-11

Cocoa output in top grower Ivory Coast should inch up to 1.3 million tonnes in 2010/11 and return to a more distinct growth trend in around four years, the International Cocoa Organisation (ICO) predicted on Friday. Aging trees and investment-sapping poli
Published 18 Jul, 2010 12:00am
Thai white sugar premiums hit record at $180

Thai white sugar premiums hit record at $180

Premiums for Thai white sugar struck another record at $180 over London futures on tight supply and firm demand, dealers said on Friday, adding that consumers were likely to pay up. A decision by Thailand, the world's second-largest sugar exporter after B
Published 18 Jul, 2010 12:00am
Sugar price peak out of reach despite demand surge

Sugar price peak out of reach despite demand surge

Brisk demand is unlikely to propel sugar futures back to the 29-year peak they touched in February as top growing countries prepare for big crops and congestion in Brazilian ports eases. The big vessel line-up at the ports, unprecedented Thai sugar demand
Published 18 Jul, 2010 12:00am
Wheat falls but posts top weekly gain in 2-1/2 years

Wheat falls but posts top weekly gain in 2-1/2 years

Wheat prices fell on Friday as investors took profits, but the nearby contract ended with its biggest weekly percentage gain in nearly 2-1/2 years on concerns about smaller European crops. Corn and soya prices recovered from early slips on profit-taking a
Published 18 Jul, 2010 12:00am
AIG to pay $725 million to settle fraud case

AIG to pay $725 million to settle fraud case

American International Group Inc agreed to pay $725 million to settle a long-running securities fraud lawsuit led by three Ohio public pension funds, in one of the largest class action settlements in US history. AIG, which is nearly 80 percent owned by th
Published 18 Jul, 2010 12:00am
US bank reform 'good' but 'too early': Soros

US bank reform 'good' but 'too early': Soros

Billionaire investor George Soros on Friday said the just-passed US financial overhaul bill will impose new regulations on the banking system before the banks have recovered sufficiently to cope with new restrictions on their activities.
Published 18 Jul, 2010 12:00am
Big banks eye higher fees to boost declining revenue

Big banks eye higher fees to boost declining revenue

Big banks facing big drops in revenue are looking to their customers to make up the difference. Checking accounts, bank statements, even popping into your local bank branch could carry a hefty cost as America's mega-banks scramble to offset expected damag
Published 18 Jul, 2010 12:00am
China crude pipelines explode, burn in Dalian port

China crude pipelines explode, burn in Dalian port

Chinese fire-fighters extinguished a blaze that raged for over 15 hours after two oil pipelines exploded in the north-eastern port of Dalian, Xinhua news agency said on Saturday. The fire threatened a tank farm in Dalian, a port which is home to part of C
Published 18 Jul, 2010 12:00am
Obama casts Republicans as party of the rich

Obama casts Republicans as party of the rich

US President Barack Obama stepped up criticism of Republicans on Saturday for blocking jobless aid, hammering home a Democratic election year attack line that casts the opposition as the party of the rich. "Too often, the Republican leadership in the Unit
Published 18 Jul, 2010 12:00am
Hong Kong passes minimum wage law

Hong Kong passes minimum wage law

Hong Kong on Saturday passed its first minimum wage law, a controversial issue that has divided the city's business sector and labour groups for more than a decade. Lawmakers hailed the passage of the bill - secured after more than 40 hours of heated deba
Published 18 Jul, 2010 12:00am
Germany sees second quarter growth above 1.5 percent

Germany sees second quarter growth above 1.5 percent

The German government believes the economy may have grown by a stronger-than-expected rate of above 1.5 percent in the second quarter, news magazine Der Spiegel reported on Saturday. The magazine said internal government forecasts put second quarter growt
Published 18 Jul, 2010 12:00am
Saudi's Binladin Group issues $187 million Islamic bond

Saudi's Binladin Group issues $187 million Islamic bond

Private contractor Saudi Binladin Group has raised 700 million riyals ($187 million) from the kingdom's first short-term Islamic bond, opening a new window for credit-hungry firms amid tight lending conditions. In a statement on Saturday, the issue's secu
Published 18 Jul, 2010 12:00am
Saudi's Binladin Group issues $187 million Islamic bond

Saudi's Binladin Group issues $187 million Islamic bond

Private contractor Saudi Binladin Group has raised 700 million riyals ($187 million) from the kingdom's first short-term Islamic bond, opening a new window for credit-hungry firms amid tight lending conditions. In a statement on Saturday, the issue's secu
Published 18 Jul, 2010 12:00am
Bulgaria, Russia sign South Stream gas roadmap deal

Bulgaria, Russia sign South Stream gas roadmap deal

Russia and Bulgaria signed a roadmap agreement on Saturday to speed up the building of the Russian-led natural gas pipeline South Stream on the Bulgarian territory. European Union member Bulgaria agreed to push ahead with the pipeline, which aims to ship
Published 18 Jul, 2010 12:00am
Start-up private bank takes aim at big firms

Start-up private bank takes aim at big firms

A blue-ribbon team of old guard brokerage executives have set out to build a private bank delivering something they say is hard to find on Wall Street: personal service and no conflicts. Fieldpoint Private Bank & Trust is a two-year-old company with just
Published 18 Jul, 2010 12:00am
Zambia starts mine earnings audits

Zambia starts mine earnings audits

Zambia is conducting an audit of mining companies to determine their earnings and will punish companies found cheating over declaration of revenues, Finance Minister Situmbeko Musokotwane said on Saturday. Musokotwane said the southern African country, th
Published 18 Jul, 2010 12:00am
China reduces US Treasury debt holdings

China reduces US Treasury debt holdings

China reduced its holdings of US Treasury debt in May as total foreign holdings of government debt posted a slight increase. China's holdings fell by $32.5 billion to $867.7 billion, the Treasury reported Friday. Total foreign holdings edged up $5.8 billi
Published 18 Jul, 2010 12:00am
Saudi Jouf Cement plans $173 million IPO

Saudi Jouf Cement plans $173 million IPO

Al Jouf Cement Co plans to raise 650 million riyals ($173.3 million) by selling new and existing shares to the Saudi public, with over half of the proceeds going to the founders of the firm which started operations in May. Over the July 19-25 period, Al J
Published 18 Jul, 2010 12:00am
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