Bearish trend continued at the local share market on Thursday and the KSE-100 index lost another 19.49 points to close at the level of 11,135.34 points. The market opened on a positive note and the index hits 11,228.07 points intra-day high level, up 73.2
Prime Min-ister Syed Yousuf Raza Gilani and his Russian counterpart Vladimir Putin met here on Thursday and discussed bilateral, regional and international matters of mutual interest.
Prime Min-ister Syed Yousuf Raza Gilani and his Russian counterpart Vladimir Putin met here on Thursday and discussed bilateral, regional and international matters of mutual interest.
Prime Min-ister Syed Yousuf Raza Gilani and his Russian counterpart Vladimir Putin met here on Thursday and discussed bilateral, regional and international matters of mutual interest.
Prime Minister Yousuf Raza Gilani and Chinese Premier Wen Jiabao on Thursday reiterated the resolve to further strengthen their strategic bilateral ties in trade, economy, energy, defence and other areas.
The Ministry of Water and Power plans to increase power tariff by 2 percent in the first week of next month (December) as per agreement with the international financial institutions, well-informed sources told Business Recorder.
Prime Minister Yousuf Raza Gilani and Chinese Premier Wen Jiabao on Thursday reiterated the resolve to further strengthen their strategic bilateral ties in trade, economy, energy, defence and other areas.
Prime Minister Yousuf Raza Gilani and Chinese Premier Wen Jiabao on Thursday reiterated the resolve to further strengthen their strategic bilateral ties in trade, economy, energy, defence and other areas.
Prime Minister Syed Yousuf Raza Gilani while reiterating Pakistan''s sincere desire for active participation in the economic development of region under the SCO on Thursday called for early up-gradation of the country''s status as full member of the impor
Prime Minister Syed Yousuf Raza Gilani while reiterating Pakistan's sincere desire for active participation in the economic development of region under the SCO on Thursday called for early up-gradation of the country's status as full member of the importa
Prime Minister Syed Yousuf Raza Gilani while reiterating Pakistan's sincere desire for active participation in the economic development of region under the SCO on Thursday called for early up-gradation of the country's status as full member of the importa
The euro struggled near a two-month low as the eurozone debt crisis showed signs of spilling over from Ireland to other countries even after Ireland unveiled an ambitious austerity plan.
Kissan Board Pakistan has threatened to stage a growers sit-in outside all the assemblies if government withdraws the present subsidisation of electric power supply to tubewells. The farmers' group has also demanded that the price of fertiliser should be
The 'Shining India' is not all that brightly shining as some would like us to believe. In fact, the size of its corruption industry is much bigger than what we have in Pakistan. Last month, Prime Minister Manmohan Singh was battling for his political life
The collective failure to act prudently creates certain things as fait accompli in a nation's life. The General Sales Tax Bill 2010, ready to be imposed soon on the dictates of the International Monetary Fund (IMF) as a precondition for release of the rem
International financial and monetary institutions and watchdogs of economic and fiscal policies have been persistently demanding that the government widen the base of the tax network in Pakistan. This initiative has to be taken particularly for reducing i
The government says, quite rightly, that the RGST (Reformed General Sales Tax) is not a new tax other than that it is a rationalised form of the two-decade-old GST that is being reformed to bring about macroeconomic stability, side by side with catering t
This is with reference to a Business Recorder research report of 23.11.2010 titled "Turkish RPP: it's old and expensive" along with BR editorial of 22.11.2010 titled "Power ship arrives: beggars can't be choosers" - which have negatively targeted p
Gold was little changed on Thursday, lacking strong impetus due to the US Thanksgiving holiday but backed up by some safe-haven buying amid Europe's debt crisis and heightened tensions between North and South Korea. The dollar, which traditionally has an
Gold edged down in thin trade on Thursday after encouraging US jobless claims data calmed some worries about economic growth, but concerns over tensions on the Korean peninsula could offer some support. Bullion barely reacted to news that Vietnam's centra
US gold futures ended lower on Wednesday as safe-haven demand faded after better-than-expected US jobless claims data allayed some worries about economic growth. COMEX December gold futures settled down $4.6 at $1,373 an ounce on the COMEX division of the
US soyabean futures closed higher on Wednesday amid brisk demand for cash soyabean including news of a big sale of US soyabean to China and support from concerns about dry weather in portions of South America's crop region. Also support from a rebound in
Tokyo rubber futures edged up on Thursday after being dragged lower the previous day by heightened tensions on the Korean Peninsula, but the market lacked strength ahead of the US Thanksgiving holiday, traders said. The most active April contract, the pre
Copper rose on Thursday as support from persistent supply concerns and a bout of upbeat US data offset investor worries about the potential of sovereign debt problems spreading in the eurozone. Copper for three-months delivery on the London Metal Exchange
Copper prices drifted on Thursday as uncertainties in Ireland and Korea peninsula continued to weigh, but optimistic US data that suggested a steady recovery could be on its way supported prices. Market sentiment was cautious as traders were reluctant to
Copper closed firm on Wednesday, tracking a positive tone in equity markets, after a batch of generally upbeat data in the United States reinforced healthier economic recovery prospects in the world's largest economy. COMEX copper for December delivery cl
Oil inched up on Thursday, holding a tight range in thin trading due to a US holiday, with the upside capped by persistent worries about the eurozone and concerns about China's inflation prospects. By 1437 US crude for January was up 46 cents at $84.32 a
Cocoa futures on Liffe fell on Thursday, weighed by producer selling of main crop cocoa out of West Africa, while robusta coffee edged lower on an ample harvest in Vietnam, and sugar firmed. Volumes in Liffe soft commodity markets were modest as ICE raw s
Malaysian palm oil futures advanced for a second day on Thursday as export data signalled a strong recovery in demand at a time when heavy rains may curb production. Strong Chinese demand for US soyabeans, which are crushed into oils, also lifted vegetabl
Sugar futures closed higher on follow-through trade and fund buying on Wednesday, with an additional boost from demand in China, in light dealing a day before the US Thanksgiving holiday. Coffee futures reversed lower after the market's recovery late on T
CME Group Inc, the US futures exchange, plans to hire eight senior executives in London as part of its move into European clearing. The Chicago Mercantile Exchange, the largest derivatives market in North America, wants to hire one managing director, two
Nuri al-Maliki called for unity among Iraq's factions on Thursday after he was named for a second term as prime minister, signalling an end may be in sight to an eight-month political impasse. President Jalal Talabani's nomination of Maliki, delayed to gi
The European Parliament urged Iraq on Thursday to drop a death sentence against Saddam-era minister Tareq Aziz, warning that killing him would "do little to improve the climate of violence." The parliament adopted a resolution reiterating its opposition t
A US federal jury on Wednesday convicted five Somalis of attacking a US Navy ship in the first piracy conviction in the United States in 190 years, the Justice Department said. The five men face a mandatory life sentence at a hearing scheduled for March 1
Turkey's government has suspended two generals and an admiral charged over an alleged coup plot, the military said Thursday, in what appeared to be a rekindled clash between army and government. The three men, suspended from office Monday, have asked a mi
British students occupied university buildings Thursday to show their anger at government plans to triple fees, as leaders vowed to follow up violent protests in London with new rallies next week. Oxford University, University College London and Cardiff U
President Dmitry Medvedev said Thursday that Russia intended to expand the number of its foreign naval bases as it tries to catch up with the military capabilities of the West. Medvedev conceded at a meeting with Russia's top brass that the country was lo
Cambodia's prime minister led an emotional memorial ceremony Thursday at the site of a bridge stampede in the capital that killed almost 350 people in the worst national tragedy for decades. Hun Sen, dressed in black, wiped away a tear and burnt incense a
British Prime Minister David Cameron defended Thursday a new index aimed at measuring the population's social and environmental wellbeing rather than just its wealth. Cameron denied the scheme was "airy-fairy and impractical" and rejected criticisms that
President Barack Obama said that the United States was "hurting" Thursday as he used a Thanksgiving address to call for support for US troops and co-operation from his rivals in a divided Washington. "This is not the hardest Thanksgiving America has ever
A court in Nigeria on Thursday charged an alleged member of Iran's Revolutionary Guards and three Nigerians over a shipment of mortars and rockets seized in the main port of Lagos last month. Nigeria reported the seizure of the shipment - including rocket
South Korea's defence minister resigned on Thursday, two days after an attack by North Korea and amid criticism that the South's response was too slow. Kim Tae-young became the first political victim of the attack as China expressed muted criticism of for
Italian students swarmed into the Colosseum in Rome and the Leaning Tower of Pisa on Thursday as part of nation-wide protests against proposed budget cuts in the university system. Tourists caught up in the protest in Pisa were evacuated from the medieval
The world's poorest countries are trapped in boom-bust cycles and their medium-term prospects are a cause for concern, the United Nations Conference on Trade and Development said in a report issued on Thursday. The 49 states categorised as least developed
Britain announced billions of pounds of investment in its rail network but delayed a decision on how to replace ageing Intercity express trains. The government said on Thursday its investment would cut overcrowding, but was criticised by the opposition La
The head of Qatar Airways criticised Boeing and Canada's Bombardier over problems with plane developments on Thursday and threatened to shift extra business to European group Airbus. Chief Executive Akbar Al Baker said Boeing had "failed" in development o
Britain and France flagged on Thursday a looming crackdown on ultra-fast share trading that featured in May's brief "flash crash" freefall on Wall Street, alarming regulators and investors globally. French Economy Minister Christine Lagarde said a form of
China's current account surplus in the third quarter doubled from a year earlier to $102.3 billion, leaving it adrift of the cap of four percent of GDP floated by US Treasury Secretary Timothy Geithner. The surplus for the first three quarters, largely ma
The world's top automaker Toyota remains in "crisis" mode a year after being hit by the first wave of more than 12 million recalls, a report said Thursday. Shinichi Sasaki, the board member at the car giant responsible for quality, told the Financial Time
Five people connected with defunct brokerage Blue Index were charged with insider dealing by the UK's Financial Services Authority in the latest sign the watchdog intends to crack down on market abusers. The FSA said on Thursday it had charged former owne
About 6,000 people gathered in Ukraine's capital Thursday on the fourth day of demonstrations against tax law changes, part of the largest nation-wide wave of protests since the Orange Revolution of 2004. The demonstrators set up tents in Kiev reminiscent
Eurozone leaders dismissed any risk of the single currency area breaking up after financial markets, alarmed by Ireland's debt crisis, forced the borrowing costs of Portugal and Spain to record highs. German Chancellor Angela Merkel, seeking to sooth mark
German Chancellor Angela Merkel Thursday talked down the chances of a Russia-EU free trade zone ahead of a visit by Prime Minister Vladimir Putin who has floated the idea. "Of course we support the idea of a free trade zone between the EU and Russia but I
Vodafone and other mobile phone companies operating in India could be forced to pay more than one billion dollars (750 million euros) each to the government, officials told Thursday's Financial Times. The Indian government came under fire for the alleged
European Union lawmakers raised the stakes on Thursday in their fight with governments over the bloc's 2011 budget by voting to push ahead with demands on the legislature's powers in future negotiations on spending. Negotiations between the European Parli
DMS Ladies' Forum hosted an event to honour the achievements of Mehreen Salim and other students of General Group, first class third position holders in secondary school examination. The evening was presided over by renowned educationalist, Abida Saliheen
The management of the Karachi Stock Exchange (KSE) has decided to extend suspension of trading in the shares of 16 listed companies for a further period of 60 days or until such time as the causes of suspension are removed. In separate notices, the KSE sa
Fear-stricken Sindh government on Thursday tightened security inside the provincial secretariat to thwart possible terror attacks. After declaring provincial assembly (PA) building a Red Zone, Sindh government has tightened security of adjoining governmen
Today the economy is witnessing its darkest moment. Post-flood era, a time when unanimous efforts are strongly needed to strengthen the country's economy, government is making itself unpopular with irrational and sloppy policies and infuriating common man
Senator Abdul Hasib Khan has emphasised the need of imposing tax on agriculture income. Talking to Business Recorder from Islamabad, he said that he pleaded in Senate that number of ministers should be curtailed to reduce government expenses.
In order to discuss and decide modalities and establishment of International University of Soofism under the directives of President of Pakistan Asif Ali Zardari, a high level meeting of senior officers, educationalists and scholars was held under the Cha
All Pakistan Paper Merchant Association (APPMA) has constituted Standing Committees for the year 2010-11. The association has appointed Mohammad Ahmed as chairman and Khawar Saeed Butt of Reformed General Sales Tax committee.
What incentives will the already dwindling cottage industry will receive in return for paying reformed general sales tax (RGST)?, asked small traders Thursday, after the government sped up its efforts to muster support for the tax bill to be presented in
Bureaucracy has failed to come up with pragmatic reforms in GST, as it is a complete replica of VAT Act 2010, which the government tried to introduce in the last Finance Bill, said Saleem Parekh, Chairman, Pakistan Hosiery Manufacturing and Exporters Asso
The Maritime Training Institute (MTI), Karachi of "M" International Group has won the prestigious Lloyd's List Middle East and Indian Sub-Continental awards. The awards event was held recently in Dubai, UAE which was marked by awards' winners and largely
ACCA Pakistan organised Accountancy Futures Symposium at a local hotel. The two-day event aimed to surface the challenges facing businesses and in particular the accountancy profession through an exciting mix of four discussions on The Value of Audit in t
Fired-up Pakistan annexed the Asian Games men's hockey gold medal after 20 years with a convincing 2-0 win over Malaysia in the final on Thursday. Veteran Sohail Abbas put Pakistan ahead with his team's first penalty corner in the 26th minute, before stri
Afghanistan beat Pakistan by 22 runs on Thursday to reach the final of the Asian Games cricket tournament as the war-torn nation's battling team continued their fairytale rise in the sport. In Friday's final, they will face Bangladesh, who eased past a di
Roger Federer produced some exhibition tennis to beat Robin Soderling 7-6 6-3 on Thursday and become the first player through to the semi-finals of the ATP World Tour Finals. The Swiss world number two, bidding for a record-equalling fifth title at the lu
Peter Siddle celebrated a hat-trick and career-best Test figures on his birthday to bowl Australia into a commanding position against England after the opening day of the first Ashes Test at the Gabba Thursday. The stout-hearted Victorian paceman sent Eng
Part-time spinner Tillakaratne Dilshan bagged two wickets in one over in fading light to boost Sri Lanka's hopes of gaining the lead in the second Test against the West Indies on Thursday. The off-spinner dismissed well-set Darren Bravo (80) and Brendan N
Aamir Atlas Khan avenged his singles final loss to Mohamad Azlan Iskandar as Pakistan won the men's team title Thursday, preventing Malaysia from sweeping the Asian Games squash golds. But world number one Nicol David grabbed her fourth Asiad gold medal a
Manager Intikhab Alam on Thursday expressed confidence that Pakistan cricket was heading in the right direction after drawing the two-Test series against South Africa. Both Tests were drawn and Alam believes this will establish a solid platform for his te
Minister for Sports, Mir Ejaz Hussain Jakhrani was brimming with delight, like the rest of the nation, after Pakistan won back-to-back gold medals in hockey and squash at the 16th Asian Games at Guangzhou (China) on Thursday.
The victory of Pakistan hockey team in the Asian Games men's hockey final with a convincing 2-0 win over Malaysia sparked jubilation all over the country on Thursday. To celebrate the victory, hockey fans distributed sweets and danced over drumbeats.
Khushbakht Shujaat, MNA and Chairperson Pakistan Hockey Federation (PHF) Women Wing has congratulated national hockey team, President, PHF, Qasim Zia, General Secretary Asif Bajwa and team coach for winning gold medal after 20 years at the Asian Games in
World champion Maryam Jamal failed dismally in her bid for a middle distance double Wednesday as a fired-up Pakistan won its first men's Asian Games hockey gold in 20 years. On Day 13, China has its sights firmly set on shattering its best-ever gold medal
The benchmark interbank cost of borrowing dollars rose on Thursday, reflecting the increasing difficulty some eurozone institutions have raising funds as US banks grow wary of the spreading crisis in Europe. The debt and banking problems facing the eurozo
The won returned on Thursday to the level against the dollar held before this week's deadly North Korean attack on a South Korean island, leading a slight rise in Asian currencies.
The Indian rupee strengthened on Thursday as exporters and corporates sold dollars after stops got triggered, prompting banks to liquidate long dollar positions with inflows towards an upcoming share sale also helping.
The Australian dollar fell in choppy trade on Thursday on a host of reasons, including mixed domestic data, policy doubts in China, uncertainties in Europe and the Korean peninsula led nervous investors to shun risk.
The Swiss franc was slightly weaker against the euro on Thursday in thin holiday trading as the single currency came off two-week lows against the Swissie despite continuing concerns about eurozone debt.
Interbank buy/sell rates for the taka against the dollar on Thursday. 70.35/70.35 (previous 70.34/70.35). Call Money Rates: 5.50-12.00 percent (previous 5.00-25.00 percent).
Worries that Ireland's fiscal crisis could spread to other eurozone countries drove the euro down to a two-month low beneath $1.33 on Wednesday, and traders said the currency is probably in for more losses in the days ahead.
The euro remained under pressure on Thursday on turmoil surrounding eurozone debt but held above a two-month low against the dollar after a push to the downside was stemmed largely by corporate demand.