News Archives for Print - 2010-08-26

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (August 25, 2010).

Published 26 Aug, 2010 12:00am

US plans to divert part of existing $7.5 billion aid to reconstruction

The United States plans to redirect part of its existing $7.5 billion aid package for Pakistan to flood reconstruction, the US aid chief said, but warned that other nations would only contribute money if Islamabad could ensure it would be well spent.

Published 26 Aug, 2010 12:00am

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (August 25, 2010).

Published 26 Aug, 2010 12:00am

US plans to divert part of existing $7.5 billion aid to reconstruction

The United States plans to redirect part of its existing $7.5 billion aid package for Pakistan to flood reconstruction, the US aid chief said, but warned that other nations would only contribute money if Islamabad could ensure it would be well spent.

Published 26 Aug, 2010 12:00am

Banks' rates for currency notes (buying and selling)

The selling/buying rates for currency notes of major currencies issued by National Bank (NBP) here on Wednesday (August 25, 2010).

Published 26 Aug, 2010 12:00am

World Bank and ADB to launch joint damage and needs assessment

The World Bank (WB) and the Asian Development Bank (ADB) have accepted a call by the Government of Pakistan to lead the Damage and Needs Assessment (DNA) of the recent floods that have devastated the country.

Published 26 Aug, 2010 12:00am

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 Wednesday (August 25, 2010).

Published 26 Aug, 2010 12:00am

World Bank and ADB to launch joint damage and needs assessment

The World Bank (WB) and the Asian Development Bank (ADB) have accepted a call by the Government of Pakistan to lead the Damage and Needs Assessment (DNA) of the recent floods that have devastated the country.

Published 26 Aug, 2010 12:00am

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 (August 25, 2010).

Published 26 Aug, 2010 12:00am

World Bank and ADB to launch joint damage and needs assessment

The World Bank (WB) and the Asian Development Bank (ADB) have accepted a call by the Government of Pakistan to lead the Damage and Needs Assessment (DNA) of the recent floods that have devastated the country.

Published 26 Aug, 2010 12:00am

Interest rates on old and incremental FCY deposits

Interest rates on old and incremental FCY deposits on Wednesday (August 25, 2010).

Published 26 Aug, 2010 12:00am

Banks asked to help restore businesses: free seed for canola growers; Rs 5000 for each family

President Asif Ali Zardari on Wednesday said the banks should provide necessary financial services to farmers and small businessmen to help them restore their businesses vital to revival of economic activities in the flood-effected areas.

Published 26 Aug, 2010 12:00am

LIBOR calculating interest on US dollar

London Interbank Offer Rates on for calculating interest on special US dollar on Wednesday (August 25, 2010).

Published 26 Aug, 2010 12:00am

Banks asked to help restore businesses: free seed for canola growers; Rs 5000 for each family

President Asif Ali Zardari on Wednesday said the banks should provide necessary financial services to farmers and small businessmen to help them restore their businesses vital to revival of economic activities in the flood-effected areas.

Published 26 Aug, 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 (August 25, 2010).

Published 26 Aug, 2010 12:00am

Banks asked to help restore businesses: free seed for canola growers; Rs 5000 for each family

President Asif Ali Zardari on Wednesday said the banks should provide necessary financial services to farmers and small businessmen to help them restore their businesses vital to revival of economic activities in the flood-effected areas.

Published 26 Aug, 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 (August 25, 2010).

Published 26 Aug, 2010 12:00am

Less than 1.5 percent of population file tax returns: FBR informs Finance Ministry

The Federal Board of Revenue (FBR) has informed the Ministry of Finance that the number of persons filing income tax/sales tax returns is even less than 1.5 percent of the total population, reflecting exceptionally high level of non-compliance in filing o

Published 26 Aug, 2010 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (August 25, 2010).

Published 26 Aug, 2010 12:00am

Less than 1.5 percent of population file tax returns: FBR informs Finance Ministry

The Federal Board of Revenue (FBR) has informed the Ministry of Finance that the number of persons filing income tax/sales tax returns is even less than 1.5 percent of the total population, reflecting exceptionally high level of non-compliance in filing o

Published 26 Aug, 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 26 Aug, 2010 12:00am

Less than 1.5 percent of population file tax returns: FBR informs Finance Ministry

The Federal Board of Revenue (FBR) has informed the Ministry of Finance that the number of persons filing income tax/sales tax returns is even less than 1.5 percent of the total population, reflecting exceptionally high level of non-compliance in filing o

Published 26 Aug, 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 26 Aug, 2010 12:00am

Steel pipe manufacturers approach FBR: Customs notices for recovery

Some 30 steel pipe manufacturers have approached the Federal Board of Revenue (FBR) against customs'''''''' show-cause notices for recovery of millions of rupees customs duty and other levies on import of cold rolled coils (CRC) and hot rolled coils (HRC)

Published 26 Aug, 2010 12:00am

Karachi interbank rates

Karachi interbank rates on Wednesday (August 25, 2010).

Published 26 Aug, 2010 12:00am

Steel pipe manufacturers approach FBR: Customs notices for recovery

Some 30 steel pipe manufacturers have approached the Federal Board of Revenue (FBR) against customs'''' show-cause notices for recovery of millions of rupees customs duty and other levies on import of cold rolled coils (CRC) and hot rolled coils (HRC) of

Published 26 Aug, 2010 12:00am

New York cotton

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

Published 26 Aug, 2010 12:00am

Steel pipe manufacturers approach FBR: Customs notices for recovery

Some 30 steel pipe manufacturers have approached the Federal Board of Revenue (FBR) against customs'' show-cause notices for recovery of millions of rupees customs duty and other levies on import of cold rolled coils (CRC) and hot rolled coils (HRC) of pr

Published 26 Aug, 2010 12:00am

New York cotton

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

Published 26 Aug, 2010 12:00am

Steel pipe manufacturers approach FBR: Customs notices for recovery

Some 30 steel pipe manufacturers have approached the Federal Board of Revenue (FBR) against customs' show-cause notices for recovery of millions of rupees customs duty and other levies on import of cold rolled coils (CRC) and hot rolled coils (HRC) of pri

Published 26 Aug, 2010 12:00am

Aaj TV - Thursday's schedule

All timings are in PST (Pakistan Standard Time).

Published 26 Aug, 2010 12:00am

Steel pipe manufacturers approach FBR: Customs notices for recovery

Some 30 steel pipe manufacturers have approached the Federal Board of Revenue (FBR) against customs' show-cause notices for recovery of millions of rupees customs duty and other levies on import of cold rolled coils (CRC) and hot rolled coils (HRC) of pri

Published 26 Aug, 2010 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 118,784 tonnes of cargo including 86,358 tonnes of import cargo, 32,426 tonnes of export cargo, 6,519 loaded and empty containers during last 24 hours ended at 0700 hours on Wednesday.

Published 26 Aug, 2010 12:00am

Licensing of ship agents, freight forwarders: new law will be issued in consultation with stakeholders

The new legislation for regulating the licensing and registration of ship agents, freight forwarders, and other maritime logistics service providers would be issued in consultation with all stakeholders, it is learnt.

Published 26 Aug, 2010 12:00am

Canadian canola futures end higher

ICE Canadian canola futures ended higher on Tuesday as a weaker Canadian dollar made exports more attractive and farmer selling was light, traders said. Canadian dollar sank to lowest level in seven weeks after weak Canadian retail sales data.

Published 26 Aug, 2010 12:00am

Licensing of ship agents, freight forwarders: new law will be issued in consultation with stakeholders

The new legislation for regulating the licensing and registration of ship agents, freight forwarders, and other maritime logistics service providers would be issued in consultation with all stakeholders, it is learnt.

Published 26 Aug, 2010 12:00am

Russia slashes grain crop by 31 percent

A severe drought, which devastated many Russian grain growing regions this summer, has slashed the country's grain crop by nearly a third so far and delayed winter grain sowing, the Agriculture Ministry said on Wednesday.

Published 26 Aug, 2010 12:00am

Licensing of ship agents, freight forwarders: new law will be issued in consultation with stakeholders

The new legislation for regulating the licensing and registration of ship agents, freight forwarders, and other maritime logistics service providers would be issued in consultation with all stakeholders, it is learnt.

Published 26 Aug, 2010 12:00am

Corn and soya premiums firm at the US Gulf

US corn export premiums at the US Gulf were firm on Tuesday and soyabean premiums were steady to firm, supported by solid demand and tight loading capacity at US ports, traders said. Wheat export premiums were higher as loading capacity in coming months w

Published 26 Aug, 2010 12:00am

BRIndex30 loses 94.56 points

On Wednesday, the BRIndex30 opened at 7,483.35 points and, after an initial surge in the first hour, fell down and remained in negative till the end of the trading session with downward trend. It touched the intra-day high of 7,546.44 points and low of 7,

Published 26 Aug, 2010 12:00am

Ukraine puts off grain export quota plans

Ukraine said on Wednesday it had put off introducing curbs on grain exports because the world market had settled after Russia's export ban and the Ukrainian home market was no longer threatened by demand from abroad. But Ukrainian customs continued to enf

Published 26 Aug, 2010 12:00am

BRIndex30 loses 94.56 points

On Wednesday, the BRIndex30 opened at 7,483.35 points and, after an initial surge in the first hour, fell down and remained in negative till the end of the trading session with downward trend. It touched the intra-day high of 7,546.44 points and low of 7,

Published 26 Aug, 2010 12:00am

US corn flat after three percent decline, wheat futures higher

Chicago corn futures were little changed on Wednesday after sliding almost 3 percent in the previous session while US and European wheat futures rose as a Russian export ban sparked more Middle East import demand. The wheat market recovered following its

Published 26 Aug, 2010 12:00am

Index sheds 83.36 points

The KSE-100 index on Wednesday lost another 83.36 points and closed at the level of 9,553.81 points mainly due to continuous selling by local investors. Although the market witnessed support during initial hours and the index touched 9,708.11 points intra

Published 26 Aug, 2010 12:00am

Oil cake market rates

Upward trend was seen on the forward cottonseed oilcake market on Wednesday in the process of trading, dealers said. The July contract that had ended at Rs 999.60 opened with a gain of 70 paisa at Rs 1000.30, dealers said. The December vaida which closed

Published 26 Aug, 2010 12:00am

Index sheds 83.36 points

The KSE-100 index on Wednesday lost another 83.36 points and closed at the level of 9,553.81 points mainly due to continuous selling by local investors. Although the market witnessed support during initial hours and the index touched 9,708.11 points intra

Published 26 Aug, 2010 12:00am

Lint prices remain range-bound, spot rate stays put on cotton market

Steady trend was seen on the cotton market on Wednesday as buyers showed no reluctance in new deals on short crop news after historical floods in the country, dealers said. The Karachi Cotton Association (KCA) official spot rate was inert at Rs 6,450, the

Published 26 Aug, 2010 12:00am

Index sheds 83.36 points

The KSE-100 index on Wednesday lost another 83.36 points and closed at the level of 9,553.81 points mainly due to continuous selling by local investors. Although the market witnessed support during initial hours and the index touched 9,708.11 points intra

Published 26 Aug, 2010 12:00am

Chemical items mixed on Jodia Bazar

The trading in chemical items closed mixed on Jodia Bazar here on Wednesday. The following variations were noted.

Published 26 Aug, 2010 12:00am

Hajj tour operators told to pay Rs 1,600 income tax per pilgrim

The Federal Board of Revenue (FBR) has directed the Hajj tour operators to pay Rs 1600 per pilgrim as income tax, causing to deprive the masses, who are already down in the dumps because of natural calamity, poor law and order, depressed economy and high

Published 26 Aug, 2010 12:00am

Masoor Canada down in small trade on grain market

Thin trading was seen on the wholesale grain and seed market on Wednesday as most of the buyers were on the sidelines to observe aftermath impact of the historical floods, dealers said. On the cereal side, masoor Sindh registered higher at Rs 6250-9000, m

Published 26 Aug, 2010 12:00am

Hajj tour operators told to pay Rs 1,600 income tax per pilgrim

The Federal Board of Revenue (FBR) has directed the Hajj tour operators to pay Rs 1600 per pilgrim as income tax, causing to deprive the masses, who are already down in the dumps because of natural calamity, poor law and order, depressed economy and high

Published 26 Aug, 2010 12:00am

Toll Brothers reports third quarter profit on tax gains

US luxury homebuilder Toll Brothers Inc beat Wall Street expectations and reported its first profit in three years on Wednesday, sending its shares up nearly 3 percent in early trading. Helped by tax gains and lower writedowns on land values, Toll reporte

Published 26 Aug, 2010 12:00am

Hajj tour operators told to pay Rs 1,600 income tax per pilgrim

The Federal Board of Revenue (FBR) has directed the Hajj tour operators to pay Rs 1600 per pilgrim as income tax, causing to deprive the masses, who are already down in the dumps because of natural calamity, poor law and order, depressed economy and high

Published 26 Aug, 2010 12:00am

Toll Brothers reports third quarter profit on tax gains

US luxury homebuilder Toll Brothers Inc beat Wall Street expectations and reported its first profit in three years on Wednesday, sending its shares up nearly 3 percent in early trading. Helped by tax gains and lower writedowns on land values, Toll reporte

Published 26 Aug, 2010 12:00am

Comment about KBD: government circles take umbrage at Wapda chief''s statement

Many people in the federal government have taken umbrage at a statement attributed to the Chairman of Water and Power Development Authority (Wapda), Shakil Durrani, that had Kalabagh dam been built Nowshera would have been under water, sources exclusively

Published 26 Aug, 2010 12:00am

Thai central bank raises rates again

Thailand's central bank raised interest rates by 25 basis points for the second straight month on Wednesday but said rates were still too low, reinforcing market views of another rise at its next meeting in October.

Published 26 Aug, 2010 12:00am

Comment about KBD: government circles take umbrage at Wapda chief's statement

Many people in the federal government have taken umbrage at a statement attributed to the Chairman of Water and Power Development Authority (Wapda), Shakil Durrani, that had Kalabagh dam been built Nowshera would have been under water, sources exclusively

Published 26 Aug, 2010 12:00am

China Life second quarter profit drops

China Life, the world's top life insurer by market value, warned of more market uncertainty ahead after second-quarter profit fell 27 percent amid write-downs in a weak stock market. The company and its top domestic rival, Ping An Insurance, which reporte

Published 26 Aug, 2010 12:00am

Comment about KBD: government circles take umbrage at Wapda chief's statement

Many people in the federal government have taken umbrage at a statement attributed to the Chairman of Water and Power Development Authority (Wapda), Shakil Durrani, that had Kalabagh dam been built Nowshera would have been under water, sources exclusively

Published 26 Aug, 2010 12:00am

China Life second quarter profit drops

China Life, the world's top life insurer by market value, warned of more market uncertainty ahead after second-quarter profit fell 27 percent amid write-downs in a weak stock market. The company and its top domestic rival, Ping An Insurance, which reporte

Published 26 Aug, 2010 12:00am

Centre, Sindh yet to resolve GST issue: Bengali

The Federation and the Sindh government have not yet fully resolved the issue of collection of general sales tax (GST) on services. Dr Kaiser Bengali, Advisor to Sindh Chief Minister on Revenues told Business Recorder here on Wednesday that the Fed

Published 26 Aug, 2010 12:00am

Portugal pays higher rates to issue 1.3 billion euros in bonds

Portugal raised 1.3 billion euros on Wednesday in the issue of six-year and 10-year bonds, offering a higher interest rate than recent issues, the country's debt management agency said. The issue allowed Portugal to raise more funds than the 750 million-1

Published 26 Aug, 2010 12:00am

Centre, Sindh yet to resolve GST issue: Bengali

The Federation and the Sindh government have not yet fully resolved the issue of collection of general sales tax (GST) on services. Dr Kaiser Bengali, Advisor to Sindh Chief Minister on Revenues told Business Recorder here on Wednesday that the Fed

Published 26 Aug, 2010 12:00am

Portugal pays higher rates to issue 1.3 billion euros in bonds

Portugal raised 1.3 billion euros on Wednesday in the issue of six-year and 10-year bonds, offering a higher interest rate than recent issues, the country's debt management agency said. The issue allowed Portugal to raise more funds than the 750 million-1

Published 26 Aug, 2010 12:00am

Centre, Sindh yet to resolve GST issue: Bengali

The Federation and the Sindh government have not yet fully resolved the issue of collection of general sales tax (GST) on services. Dr Kaiser Bengali, Advisor to Sindh Chief Minister on Revenues told Business Recorder here on Wednesday that the Fed

Published 26 Aug, 2010 12:00am

Japan's Suzuki to invest heavily in Indian motorcycle arm

The Indian arm of Japanese auto giant Suzuki said Wednesday it plans to more than double production capacity to exploit the country's fast-growing market for motorcycles. Suzuki Motor Corp has so far invested 95 million dollars in its Indian subsidiary, w

Published 26 Aug, 2010 12:00am

MQM's tirade against PML-N leadership

Muttahida Qaumi Movement (MQM) on Wednesday submitted two privilege motions against Pakistan Muslim League-Nawaz (PML-N) and an adjournment motion against the lynching of two brothers in Sialkot. MQM leaders Dr Farooq Sattar and Haider Abbas Rizvi submitt

Published 26 Aug, 2010 12:00am

Ireland stung by S&P cut, pressure grows over banks

Ireland's government faced mounting pressure on Wednesday to draw a line under its banking crisis after a credit rating cut from Standard & Poor's pushed its borrowing costs higher. After winning plaudits for moving quickly to tackle its deficit, Ireland

Published 26 Aug, 2010 12:00am

MQM's tirade against PML-N leadership

Muttahida Qaumi Movement (MQM) on Wednesday submitted two privilege motions against Pakistan Muslim League-Nawaz (PML-N) and an adjournment motion against the lynching of two brothers in Sialkot. MQM leaders Dr Farooq Sattar and Haider Abbas Rizvi submitt

Published 26 Aug, 2010 12:00am

Travellers wins big award in 17-year asbestos case

A New York state judge has awarded Travelers Cos $262.3 million plus interest in a 17-year-old reinsurance case over asbestos coverage whose facts date back to the late 1940s.

Published 26 Aug, 2010 12:00am

Zardari, Gilani for early completion of TAPI project

President Asif Ali Zardari on Wednesday called for taking up the TAPI (Turkmenistan-Afghanistan-Pakistan-India) gas pipeline project on an urgent basis. Talking to Rashid Ovezgeldievich Meredov, Vice Premier and Foreign Minister of Turkmenistan at Aiwan-e

Published 26 Aug, 2010 12:00am

Dubai World prized assets on sale to cut debt

Dubai World is prepared to sell prized assets including previously ringfenced ports firm DP World in a bid to raise as much as $19.4 billion to repay creditors, a document obtained by Reuters showed.

Published 26 Aug, 2010 12:00am

Zardari, Gilani for early completion of TAPI project

President Asif Ali Zardari on Wednesday called for taking up the TAPI (Turkmenistan-Afghanistan-Pakistan-India) gas pipeline project on an urgent basis. Talking to Rashid Ovezgeldievich Meredov, Vice Premier and Foreign Minister of Turkmenistan at Aiwan-e

Published 26 Aug, 2010 12:00am

Dubai World prized assets on sale to cut debt

Dubai World is prepared to sell prized assets including previously ringfenced ports firm DP World in a bid to raise as much as $19.4 billion to repay creditors, a document obtained by Reuters showed.

Published 26 Aug, 2010 12:00am

Zardari, Gilani for early completion of TAPI project

President Asif Ali Zardari on Wednesday called for taking up the TAPI (Turkmenistan-Afghanistan-Pakistan-India) gas pipeline project on an urgent basis. Talking to Rashid Ovezgeldievich Meredov, Vice Premier and Foreign Minister of Turkmenistan at Aiwan-e

Published 26 Aug, 2010 12:00am

German business confidence reaches three-year high

Germany's business confidence rose in August to its highest level in three years, according to a key survey Wednesday, suggesting Europe's biggest economy continues to grow as companies plan to hire more and manufacturers and retailers enjoy improved dema

Published 26 Aug, 2010 12:00am

Pakistan wants to get Turkmen gas through IP pipeline

Pakistan has proposed to Turkmenistan to supply gas via Iran by using the Iran-Pakistan (IP) gas pipeline, instead of laying a pipeline through the war-torn Afghanistan, under swap arrangement, Business Recorder has learnt. Experts of the two count

Published 26 Aug, 2010 12:00am

BHP reveals big profit, to face Potash questions

BHP Billiton, the world's biggest miner, fired a warning shot to its take-over target Potash Corp and potential counterbidders, showing off its best half-year profit in two years and a hefty balance sheet. BHP, with a $39 billion hostile offer out for the

Published 26 Aug, 2010 12:00am

Pakistan wants to get Turkmen gas through IP pipeline

Pakistan has proposed to Turkmenistan to supply gas via Iran by using the Iran-Pakistan (IP) gas pipeline, instead of laying a pipeline through the war-torn Afghanistan, under swap arrangement, Business Recorder has learnt. Experts of the two count

Published 26 Aug, 2010 12:00am

BHP reveals big profit, to face Potash questions

BHP Billiton, the world's biggest miner, fired a warning shot to its take-over target Potash Corp and potential counterbidders, showing off its best half-year profit in two years and a hefty balance sheet. BHP, with a $39 billion hostile offer out for the

Published 26 Aug, 2010 12:00am

Pakistan wants to get Turkmen gas through IP pipeline

Pakistan has proposed to Turkmenistan to supply gas via Iran by using the Iran-Pakistan (IP) gas pipeline, instead of laying a pipeline through the war-torn Afghanistan, under swap arrangement, Business Recorder has learnt. Experts of the two count

Published 26 Aug, 2010 12:00am

American Airlines mechanics reject pay deal

Members of American Airlines' mechanics union rejected a contract proposal and authorised union leaders to call a strike, the Transport Workers Union (TWU) said. The union said on its website late on Tuesday that two American Airlines work groups represen

Published 26 Aug, 2010 12:00am

Sugar price may rise further

Sugar price is expected to skyrocket to about Rs 90 per kg in the coming weeks as stocks with sugar mills are inadequate, said a market player on Wednesday. Currently, sugar price in Pakistan is higher than in India, Sri Lanka and Bangladesh but lower tha

Published 26 Aug, 2010 12:00am

India allows telecom imports after eight-month ban

India has relaxed an eight-month ban on imports of telecommunication equipment, approving orders from China's ZTE and Huawei and Finland's Nokia Siemens Networks, executives said Wednesday, as security fears fade before an urgent need to roll out third-ge

Published 26 Aug, 2010 12:00am

Sugar price may rise further

Sugar price is expected to skyrocket to about Rs 90 per kg in the coming weeks as stocks with sugar mills are inadequate, said a market player on Wednesday. Currently, sugar price in Pakistan is higher than in India, Sri Lanka and Bangladesh but lower tha

Published 26 Aug, 2010 12:00am

Kuwait, Iraq agree on oil output from border fields

Kuwait and Iraq have agreed "in principle" on a deal to regulate production from the border oilfields that once caused conflict between the two Arab states, the Kuwaiti oil minister said Wednesday.

Published 26 Aug, 2010 12:00am

Sugar price may rise further

Sugar price is expected to skyrocket to about Rs 90 per kg in the coming weeks as stocks with sugar mills are inadequate, said a market player on Wednesday. Currently, sugar price in Pakistan is higher than in India, Sri Lanka and Bangladesh but lower tha

Published 26 Aug, 2010 12:00am

Asean leaders warn on: Southeast Asia's rich-poor gap

Southeast Asian leaders warned Wednesday of a widening gap between the booming region's richest and poorest nations that could threaten its ambitious drive for an EU-style single market. Cambodia, Laos, Myanmar and Vietnam have recorded high growth rates

Published 26 Aug, 2010 12:00am

Hungary rules out new IMF deal

Hungary's government on Wednesday ruled out signing a new financing deal with the International Monetary Fund, triggering renewed forint weakness and uncertainty about the country's fiscal outlook.

Published 26 Aug, 2010 12:00am

Societe Generale fined 1.6 million pounds

Britain's financial regulator on Wednesday said it had fined French bank Societe Generale 1.575 million pounds after the group's London division failed to report its transactions properly.

Published 26 Aug, 2010 12:00am

Saudi supermarket breaks taboo with women cashiers

Saudi Arabia's leading supermarket chain has broken the country's strict taboo on women working in public with a pilot programme of women cashiers, a company official said.

Published 26 Aug, 2010 12:00am

US new home sales sag, durables orders soft

New US home sales slumped to the slowest pace on record in July and orders for costly durable goods were weak, heightening fears the economy was at risk of a new downturn. Wednesday's reports from the Commerce Department suggested growth could slow materi

Published 26 Aug, 2010 12:00am

Asian bond spreads widen further

Asian debt spreads swelled to their widest in more than a month on Wednesday as weak US housing data fuelled concerns its economic recovery is stalling, while Philippine issues extended losses on profit-taking. The Asia ex-Japan iTraxx investment-grade in

Published 26 Aug, 2010 12:00am

Asian bond spreads widen further

Asian debt spreads swelled to their widest in more than a month on Wednesday as weak US housing data fuelled concerns its economic recovery is stalling, while Philippine issues extended losses on profit-taking. The Asia ex-Japan iTraxx investment-grade in

Published 26 Aug, 2010 12:00am

Indian shares stay lower

Indian shares fell for the second day to end 0.7 percent lower on Wednesday, knocked down by world equities, as rising fears over global economic recovery triggered a flight to safety. A one-notch downgrade of Ireland's debt rating by Standard & Poor's an

Published 26 Aug, 2010 12:00am

Southeast Asian markets: Indonesia climbs to fresh all-time high

Indonesia's main share index climbed to a fresh all-time high on Wednesday as investors sought bargains from resource-related shares just as regional equities remained wary of a spate of worrying US economic data. Cautious investors cut positions in overb

Published 26 Aug, 2010 12:00am

Wednesday's midday: trade Wall Street dips on data

US stocks fell on Wednesday as weak data on US housing and orders for long-lasting manufactured goods underscored the prospect of a sharp economic slowdown. But a rebound off an S&P 500 index technical support level after five days of broad declines helpe

Published 26 Aug, 2010 12:00am

US indices slip to lowest level in seven weeks

US stocks fell to their lowest level in seven weeks on Tuesday as an unexpectedly large drop in home sales ratcheted up concerns that the economic recovery is even weaker than had been feared. The Dow and S&P 500 racked up their fourth day of losses in a

Published 26 Aug, 2010 12:00am

European CDS widen

European corporate credit default swap spreads were wider on Wednesday, partly in response to falls on Wall Street and also a credit rating downgrade of Ireland by Standard & Poor's. S&P cut Ireland's long-term rating to AA- from AA with a negative outloo

Published 26 Aug, 2010 12:00am

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 22	252.10

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72

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