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Print - 2010-09-23
Afghanistan says confident, can secure TAPI gas pipeline

Afghanistan says confident, can secure TAPI gas pipeline

Afghanistan will secure a planned international gas pipeline through the Taliban heartland by burying sections underground and paying local communities to guard it, the mining minister said on Wednesday. Wahidullah Shahrani also said he was confident the
Published 23 Sep, 2010 12:00am
Afghanistan says confident, can secure TAPI gas pipeline

Afghanistan says confident, can secure TAPI gas pipeline

Afghanistan will secure a planned international gas pipeline through the Taliban heartland by burying sections underground and paying local communities to guard it, the mining minister said on Wednesday. Wahidullah Shahrani also said he was confident the
Published 23 Sep, 2010 12:00am
Afghanistan says confident, can secure TAPI gas pipeline

Afghanistan says confident, can secure TAPI gas pipeline

Afghanistan will secure a planned international gas pipeline through the Taliban heartland by burying sections underground and paying local communities to guard it, the mining minister said on Wednesday. Wahidullah Shahrani also said he was confident the
Published 23 Sep, 2010 12:00am
Pepco seeks duty exemption on UAE gifted power plant

Pepco seeks duty exemption on UAE gifted power plant

The Pakistan Electric Power Company (Pepco) is said to have sought special exemption in customs duty on 320 MW power plant, gifted by United Arab Emirates (UAE), to be installed at Faisalabad, sources told Business Recorder here on Wednesday.
Published 23 Sep, 2010 12:00am
Pepco seeks duty exemption on UAE gifted power plant

Pepco seeks duty exemption on UAE gifted power plant

The Pakistan Electric Power Company (Pepco) is said to have sought special exemption in customs duty on 320 MW power plant, gifted by United Arab Emirates (UAE), to be installed at Faisalabad, sources told Business Recorder here on Wednesday.
Published 23 Sep, 2010 12:00am
Pepco seeks duty exemption on UAE gifted power plant

Pepco seeks duty exemption on UAE gifted power plant

The Pakistan Electric Power Company (Pepco) is said to have sought special exemption in customs duty on 320 MW power plant, gifted by United Arab Emirates (UAE), to be installed at Faisalabad, sources told Business Recorder here on Wednesday.
Published 23 Sep, 2010 12:00am
FBR may be assigned new tax target of Rs 1,689 billion

FBR may be assigned new tax target of Rs 1,689 billion

In the wake of floods surcharge and reformed general sales tax, the government may assign a new revenue collection target of Rs 1,689 billion (2010-11) to the Federal Board of Revenue as compared to the current target of Rs 1667 billion. The FBR would be
Published 23 Sep, 2010 12:00am
FBR may be assigned new tax target of Rs 1,689 billion

FBR may be assigned new tax target of Rs 1,689 billion

In the wake of floods surcharge and reformed general sales tax, the government may assign a new revenue collection target of Rs 1,689 billion (2010-11) to the Federal Board of Revenue as compared to the current target of Rs 1667 billion. The FBR would be
Published 23 Sep, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (September 22, 2010).

Published 23 Sep, 2010 12:00am
FBR may be assigned new tax target of Rs 1,689 billion

FBR may be assigned new tax target of Rs 1,689 billion

In the wake of floods surcharge and reformed general sales tax, the government may assign a new revenue collection target of Rs 1,689 billion (2010-11) to the Federal Board of Revenue as compared to the current target of Rs 1667 billion. The FBR would be
Published 23 Sep, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (September 22, 2010).

Published 23 Sep, 2010 12:00am
Provinces to revise their budgets

Provinces to revise their budgets

Provincial governments will revise their budgets to create fiscal space for reconstruction work once the damage needs assessment (DNA) of flood affected areas is completed and losses determined. Officials of provincial governments on condition of anonymit
Published 23 Sep, 2010 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (September 22, 2010).

Published 23 Sep, 2010 12:00am
Provinces to revise their budgets

Provinces to revise their budgets

Provincial governments will revise their budgets to create fiscal space for reconstruction work once the damage needs assessment (DNA) of flood affected areas is completed and losses determined. Officials of provincial governments on condition of anonymit
Published 23 Sep, 2010 12:00am
NJLI Sarmaya Growth Fund Rates

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Wednesday (September 22, 2010).

Published 23 Sep, 2010 12:00am
Provinces to revise their budgets

Provinces to revise their budgets

Provincial governments will revise their budgets to create fiscal space for reconstruction work once the damage needs assessment (DNA) of flood affected areas is completed and losses determined. Officials of provincial governments on condition of anonymit
Published 23 Sep, 2010 12:00am
NJLI Sarmaya Growth Fund Rates

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Wednesday (September 22, 2010).

Published 23 Sep, 2010 12:00am
Elite major hurdle in tax base widening: Hafeez tells Senate

Elite major hurdle in tax base widening: Hafeez tells Senate

Federal Finance Minister Dr Abdul Hafeez Sheikh on Wednesday termed the "elite" of the country as a major hurdle in broadening the tax base and responsible for promoting culture of tax evasion, which is dragging the economy away from self-reliance.
Published 23 Sep, 2010 12:00am
NJLI Sarmaya Growth Fund Rates

NJLI Sarmaya Growth Fund Rates

New Jubilee Life Insurance Sarmaya Growth Fund Rates on Wednesday (September 22, 2010).

Published 23 Sep, 2010 12:00am
Elite major hurdle in tax base widening: Hafeez tells Senate

Elite major hurdle in tax base widening: Hafeez tells Senate

Federal Finance Minister Dr Abdul Hafeez Sheikh on Wednesday termed the "elite" of the country as a major hurdle in broadening the tax base and responsible for promoting culture of tax evasion, which is dragging the economy away from self-reliance.
Published 23 Sep, 2010 12:00am
NJLI Managed Growth Fund Rates

NJLI Managed Growth Fund Rates

New Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (September 22, 2010).

Published 23 Sep, 2010 12:00am
Elite major hurdle in tax base widening: Hafeez tells Senate

Elite major hurdle in tax base widening: Hafeez tells Senate

Federal Finance Minister Dr Abdul Hafeez Sheikh on Wednesday termed the "elite" of the country as a major hurdle in broadening the tax base and responsible for promoting culture of tax evasion, which is dragging the economy away from self-reliance.
Published 23 Sep, 2010 12:00am
NJLI Managed Growth Fund Rates

NJLI Managed Growth Fund Rates

New Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (September 22, 2010).

Published 23 Sep, 2010 12:00am
NJLI Managed Growth Fund Rates

NJLI Managed Growth Fund Rates

New Jubilee Life Insurance Managed Growth Fund Rates on Wednesday (September 22, 2010).

Published 23 Sep, 2010 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (September 22, 2010).

Published 23 Sep, 2010 12:00am
Europe finally adopts landmark finance curbs

Europe finally adopts landmark finance curbs

Europe finally voted through landmark curbs Wednesday to clamp down on its finance industry just as fears returned that Ireland, like Greece, was staring down bankruptcy. The crossing of the final political hurdle at the European parliament marks the end
Published 23 Sep, 2010 12:00am
Europe finally adopts landmark finance curbs

Europe finally adopts landmark finance curbs

Europe finally voted through landmark curbs Wednesday to clamp down on its finance industry just as fears returned that Ireland, like Greece, was staring down bankruptcy. The crossing of the final political hurdle at the European parliament marks the end
Published 23 Sep, 2010 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (September 22, 2010).

Published 23 Sep, 2010 12:00am
Europe finally adopts landmark finance curbs

Europe finally adopts landmark finance curbs

Europe finally voted through landmark curbs Wednesday to clamp down on its finance industry just as fears returned that Ireland, like Greece, was staring down bankruptcy. The crossing of the final political hurdle at the European parliament marks the end
Published 23 Sep, 2010 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (September 22, 2010). Money market initiated at the level of 11.25% - 11.50%. In Repo, major deals were done in the range of 10.25% - 10.75%. Money Market closed at the level of 10.10% -10.1
Published 23 Sep, 2010 12:00am
Russia invited to invest in PSM, railways, oil & gas sector

Russia invited to invest in PSM, railways, oil & gas sector

Pakistan has invited Russia to invest in Pakistan Steel Mills, Pakistan Railways (PR), and the oil and gas exploration activities in a joint venture with Oil and Gas Development Company Limited (OGDC) under proposed Bilateral Investment Treaty (BIT), B
Published 23 Sep, 2010 12:00am
Russia invited to invest in PSM, railways, oil & gas sector

Russia invited to invest in PSM, railways, oil & gas sector

Pakistan has invited Russia to invest in Pakistan Steel Mills, Pakistan Railways (PR), and the oil and gas exploration activities in a joint venture with Oil and Gas Development Company Limited (OGDC) under proposed Bilateral Investment Treaty (BIT), B
Published 23 Sep, 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 Wednesday (September 22, 2010).

Published 23 Sep, 2010 12:00am
Russia invited to invest in PSM, railways, oil & gas sector

Russia invited to invest in PSM, railways, oil & gas sector

Pakistan has invited Russia to invest in Pakistan Steel Mills, Pakistan Railways (PR), and the oil and gas exploration activities in a joint venture with Oil and Gas Development Company Limited (OGDC) under proposed Bilateral Investment Treaty (BIT), B
Published 23 Sep, 2010 12:00am
Interest rates on new foreign currency deposits

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 (September 22, 2010).

Published 23 Sep, 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 Wednesday (September 22, 2010).

Published 23 Sep, 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 Wednesday (September 22, 2010).

Published 23 Sep, 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 Wednesday (September 22, 2010).

Published 23 Sep, 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 23 Sep, 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 23 Sep, 2010 12:00am
Karachi interbank rates

Karachi interbank rates

Karachi interbank rates on Wednesday (September 22, 2010).

Published 23 Sep, 2010 12:00am
New York cotton

New York cotton

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

Published 23 Sep, 2010 12:00am
New York cotton

New York cotton

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

Published 23 Sep, 2010 12:00am
International Monetary Fund Pakistan

International Monetary Fund Pakistan

The floods in Pakistan are a natural disaster of massive proportions. About one-fifth of the country has been flooded and 10 percent of the population has been directly affected. Nearly two million homes have been destroyed or damaged and there is extensi
Published 23 Sep, 2010 12:00am
Karachi Port's and Port Qasim's activities

Karachi Port's and Port Qasim's activities

The Karachi Port handled 83,634 tonnes of cargo including 72,537 tonnes of import cargo, 11,097 tonnes of export cargo, 3,566 loaded and empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 72,537 tonnes compri
Published 23 Sep, 2010 12:00am
Indonesia's August tin exports fall

Indonesia's August tin exports fall

Indonesia's refined tin exports in August fell 5.6 percent from the same month a year ago as heavy rains hampered mining, continuing a trend of declining output this year from the world's top producer. The drop comes as the La Nina weather anomaly has pro
Published 23 Sep, 2010 12:00am
Oil World sees ample global soyabean supplies

Oil World sees ample global soyabean supplies

Global soyabean supplies in the new 2010/11 season are likely to be ample with a smaller crop still exceeding consumption and weaker prices likely, Hamburg-based oilseeds analysts Oil World said on Tuesday. Oil World has raised its forecast of the global
Published 23 Sep, 2010 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures snapped a six-day winning streak on Tuesday as speculators took profits and harvest weather looked to improve, traders said. Commercial hedges also weighed with farmers selling into cash market-trader. Mostly dry conditions for
Published 23 Sep, 2010 12:00am
US wheat futures recover

US wheat futures recover

US wheat futures rose by more than one percent in European and Asian trade on Wednesday, buoyed by a weaker dollar as well as a fresh tender by Egypt, the world's largest wheat importer. The US Federal Reserve's determination to prevent deflation, reveale
Published 23 Sep, 2010 12:00am
India cuts sugar estimate for top producing state

India cuts sugar estimate for top producing state

Sugar output in India's top cane producing state of Uttar Pradesh may be 9-12 percent below previous estimates after floods ravaged plantations but higher supply from western India may offset the loss, government and trade officials said. Uttar Pradesh, w
Published 23 Sep, 2010 12:00am
Kirana items mixed on Jodia Bazar

Kirana items mixed on Jodia Bazar

The trading in Kirana items moved both ways on Jodia Bazar here on Wednesday. The following changes were noted.
Published 23 Sep, 2010 12:00am
Prices continue to depict down trend on grain market

Prices continue to depict down trend on grain market

Declining trend was again witnessed on the wholesale grain and seed market on Wednesday during thin business, dealers said. On the cereal side wheat old and new both types lost Rs 25 to Rs 2625-2640 and gur low type did not move any side, holding the over
Published 23 Sep, 2010 12:00am
Vatican bank head blames 'error' for probe

Vatican bank head blames 'error' for probe

An "error of procedure" at the Vatican bank is being exploited to attack the Vatican with a money-laundering investigation, the bank's president said in an interview published on Wednesday. Vatican bank officials are under investigation for suspected mone
Published 23 Sep, 2010 12:00am
Japan Prime Minister warns of more action versus yen, BoJ eyes easing

Japan Prime Minister warns of more action versus yen, BoJ eyes easing

Japanese Prime Minister Naoto Kan said Tokyo was ready to act again if the yen moved sharply, keeping traders on guard against further intervention as expectations of US monetary easing weighed on the dollar. Japan intervened in the currency market last w
Published 23 Sep, 2010 12:00am
Dutch central bank asks IMF for supervisory review

Dutch central bank asks IMF for supervisory review

The Dutch central bank will ask the International Monetary Fund to conduct a thorough review of the bank's supervisory capabilities, part of a top-down reform after a scathing report was released earlier this year. De Nederlandsche Bank, or DNB, said late
Published 23 Sep, 2010 12:00am
French banks agree greater transparency on charges

French banks agree greater transparency on charges

French banks agreed on Tuesday to clearly explain charges on monthly bank statements from mid-2011, a move that Economy Minister Christine Lagarde hailed as a step towards reducing "elevated" bank charges. A day after France's competition authority slappe
Published 23 Sep, 2010 12:00am
Norway leaves key rate steady at 2.0 percent

Norway leaves key rate steady at 2.0 percent

Norway's central bank left its benchmark interest rate unchanged at 2.0 percent on Wednesday, a decision it justified by the slow recovery in western countries. Despite a steadier-than-expected rebound in the first quarter for Norway's main economic partn
Published 23 Sep, 2010 12:00am
Polish workers protest against planned wage freeze

Polish workers protest against planned wage freeze

Around 5,000 public service workers, including policemen and firemen, protested in central Warsaw on Wednesday against plans to freeze their salaries next year as part of a government drive to tame state spending. Waving banners of the Solidarity trade un
Published 23 Sep, 2010 12:00am
Romanians protest austerity measures

Romanians protest austerity measures

Thousands of people protested in Bucharest Wednesday against the Romanian government's austerity plans, which will slash public sector salaries and freeze pensions. Carrying whistles, balloons and flags, the protestors - numbering 9,000 according to local
Published 23 Sep, 2010 12:00am
Eurozone orders below expectations

Eurozone orders below expectations

Eurozone industrial new orders fell more than twice as much as expected month-on-month in July, data showed on Wednesday, pointing to slower economic growth in the second half of the year. The European Union's statistics office Eurostat said orders in the
Published 23 Sep, 2010 12:00am
Potash Corp sues BHP to block takeover bid

Potash Corp sues BHP to block takeover bid

Potash Corp said on Wednesday it filed a lawsuit against BHP Billiton that seeks to block the mining giant's $39 billion hostile bid for the Canadian fertiliser producer. The lawsuit filed in a US District Court alleges that BHP misrepresented and failed
Published 23 Sep, 2010 12:00am
Greece opens up road freight, clashes in Athens

Greece opens up road freight, clashes in Athens

Greek lawmakers opened up road freight to competition on Wednesday, prompting angry truck drivers to briefly block the two main roads to the capital and clash with police in front of parliament. Road freight is one of the most closed professions in Greece
Published 23 Sep, 2010 12:00am
Obama aide Volcker says mortgage market reform crucial

Obama aide Volcker says mortgage market reform crucial

Paul Volcker, special adviser to US President Barack Obama, said on Wednesday that reforming the US mortgage market is the biggest single element missing from financial regulatory reform. The former Federal Reserve chairman said the mortgage industry is d
Published 23 Sep, 2010 12:00am
Banks must move fast to meet Basel III: ECB's Wellink

Banks must move fast to meet Basel III: ECB's Wellink

Banks must move to meet tough new rules on capital as soon as possible despite the long-phase in period for some of the requirements, ECB Governing Council member and head of the Basel Committee on Banking Supervision Nout Wellink said on Wednesday.
Published 23 Sep, 2010 12:00am
Ghana signs $13 billion loans deal with China

Ghana signs $13 billion loans deal with China

Ghana signed nearly $13 billion worth of loan deals with Chinese investors to fund energy, agriculture and transport development in the West African state, the government said on Wednesday. The deals would together be one of China's largest financial comm
Published 23 Sep, 2010 12:00am
US wants China to 'take thumb off' trade scale

US wants China to 'take thumb off' trade scale

US Trade Representative Ron Kirk on Wednesday urged China to end policies that discriminate against US companies and brushed off "ridiculous claims" that the United States is protectionist. "All we're asking China to do is play by the rules, get your thum
Published 23 Sep, 2010 12:00am
Christoph Franz named new Lufthansa chief

Christoph Franz named new Lufthansa chief

The biggest German airline, Lufthansa, said Wednesday it had named Christoph Franz as its new chairman and chief executive officer, a post that will mean devising a strategy to fight off low-cost carriers. Franz, who heads the airline's passenger division
Published 23 Sep, 2010 12:00am
Banks can meet capital rules with profits: Geithner

Banks can meet capital rules with profits: Geithner

US Treasury Secretary Timothy Geithner said on Wednesday US banks should be able to meet new higher capital rules through future profits without crimping lending in a way that would harm the recovering economy. Earlier this month, regulators from 27 count
Published 23 Sep, 2010 12:00am
WTO delays Airbus appeal result, probably next year

WTO delays Airbus appeal result, probably next year

The World Trade Organisation will probably not rule on an appeal against its judgement condemning subsidies for European plane maker Airbus until next year, WTO appellate judges indicated on Wednesday. Under WTO guidelines the judges hearing the appeal ha
Published 23 Sep, 2010 12:00am
Senior US Treasury official in charge of bailout resigns

Senior US Treasury official in charge of bailout resigns

The senior Treasury Department official responsible for running the government's management of hundreds of billions of dollars in toxic assets announced his resignation Wednesday. Herb Allison said he was leaving the administration as the Treasury's Troub
Published 23 Sep, 2010 12:00am