Karachi share market on Tuesday witnessed positive trend and KSE-100 index crossed 12,000 points mark with surge of 79.34 points, closing at 12,012.02 points from 11,932.68 points. The market move in green zone and KSE-100 index hit intra-day high of 12,0
Karachi share market on Tuesday witnessed positive trend and KSE-100 index crossed 12,000 points mark with surge of 79.34 points, closing at 12,012.02 points from 11,932.68 points. The market move in green zone and KSE-100 index hit intra-day high of 12,0
Pakistan is to sign an agreement with North Atlantic Treaty Organisation (Nato) on exchange of security information, sources close to Secretary Defence told Business Recorder. Ministry of Foreign Affairs intimated that during the first meeting of t
Pakistan is to sign an agreement with North Atlantic Treaty Organisation (Nato) on exchange of security information, sources close to Secretary Defence told Business Recorder. Ministry of Foreign Affairs intimated that during the first meeting of t
The Federal Board of Revenue (FBR) is reviewing a budgetary proposal to increase the rate of withholding tax on services provided or rendered, from 6 percent to 10 percent, in the budget for 2011-12. Sources told Business Recorder here on Tuesday t
The Federal Board of Revenue (FBR) is reviewing a budgetary proposal to increase the rate of withholding tax on services provided or rendered, from 6 percent to 10 percent, in the budget for 2011-12. Sources told Business Recorder here on Tuesday t
The Federal Board of Revenue (FBR) is reviewing a budgetary proposal to increase the rate of withholding tax on services provided or rendered, from 6 percent to 10 percent, in the budget for 2011-12. Sources told Business Recorder here on Tuesday t
The US administration said Tuesday it was making "progress" in obtaining more information from Pakistan on Osama bin Laden, a week after the al Qaeda leader's death. "We continue to work with Pakistan to make sure we have access to any information that co
The US administration said Tuesday it was making "progress" in obtaining more information from Pakistan on Osama bin Laden, a week after the al Qaeda leader's death. "We continue to work with Pakistan to make sure we have access to any information that co
US President Barack Obama ordered that the team sent to raid Osama bin Laden's compound be large enough to fight off Pakistani forces should they intervene, the New York Times reported. Citing unnamed officials, the paper said Obama raised the prospect of
US President Barack Obama ordered that the team sent to raid Osama bin Laden's compound be large enough to fight off Pakistani forces should they intervene, the New York Times reported. Citing unnamed officials, the paper said Obama raised the prospect of
The chairman of the Senate Foreign Relations Committee is set to visit Pakistan soon, amid worsening tensions between Washington and Islamabad after the US raid that killed Osama bin Laden on Pakistani soil. The trip comes as lawmakers question Pakistan's
The chairman of the Senate Foreign Relations Committee is set to visit Pakistan soon, amid worsening tensions between Washington and Islamabad after the US raid that killed Osama bin Laden on Pakistani soil. The trip comes as lawmakers question Pakistan's
The US may now get a chance to question Osama bin Laden's wives. According to CNN-IBN, 'Bloomberg' reports that Pakistan has agreed to give US investigators access to the three wives who were with Osama in the compound during the raid.
The US may now get a chance to question Osama bin Laden's wives. According to CNN-IBN, 'Bloomberg' reports that Pakistan has agreed to give US investigators access to the three wives who were with Osama in the compound during the raid.
The country''s total external debt servicing has reached near about 7 billion dollars during nine months of the current fiscal year mainly due to rising burden of foreign debt and payments of scheduled banks borrowing. The State Bank of Pakistan (SBP) on
The country's total external debt servicing has reached near about 7 billion dollars during nine months of the current fiscal year mainly due to rising burden of foreign debt and payments of scheduled banks borrowing. The State Bank of Pakistan (SBP) on T
The country's total external debt servicing has reached near about 7 billion dollars during nine months of the current fiscal year mainly due to rising burden of foreign debt and payments of scheduled banks borrowing. The State Bank of Pakistan (SBP) on T
Planning Commission has requested the Ministry of Finance to allocate Rs 375 billion for Public Sector Development Programme (PSDP), including ERRA''s Rs 10 billion for the next fiscal year. Briefing the National Assembly Standing Committee on Finance on
Planning Commission has requested the Ministry of Finance to allocate Rs 375 billion for Public Sector Development Programme (PSDP), including ERRA's Rs 10 billion for the next fiscal year. Briefing the National Assembly Standing Committee on Finance on b
Planning Commission has requested the Ministry of Finance to allocate Rs 375 billion for Public Sector Development Programme (PSDP), including ERRA's Rs 10 billion for the next fiscal year. Briefing the National Assembly Standing Committee on Finance on b
The federal government has decided to revisit gas pricing mechanism for thermal power plants including the Authority competent to make gas allocations to the new power sector, well-informed sources in Petroleum Ministry told Business Recorder.
The federal government has decided to revisit gas pricing mechanism for thermal power plants including the Authority competent to make gas allocations to the new power sector, well-informed sources in Petroleum Ministry told Business Recorder.
The federal government has decided to revisit gas pricing mechanism for thermal power plants including the Authority competent to make gas allocations to the new power sector, well-informed sources in Petroleum Ministry told Business Recorder.
A meeting of the Monetary and Fiscal Co-ordination Board was held here Tuesday with Finance Minister Hafeez Shaikh in the chair. Other members of the Board present in the meeting were deputy chairman, Planning Commission, the governor SBP and the secretar
A meeting of the Monetary and Fiscal Co-ordination Board was held here Tuesday with Finance Minister Hafeez Shaikh in the chair. Other members of the Board present in the meeting were deputy chairman, Planning Commission, the governor SBP and the secretar
A meeting of the Monetary and Fiscal Co-ordination Board was held here Tuesday with Finance Minister Hafeez Shaikh in the chair. Other members of the Board present in the meeting were deputy chairman, Planning Commission, the governor SBP and the secretar
The government has projected economic growth at 4.2 percent of Gross Domestic Product (GDP), and inflation lower than 12 percent for fiscal year 2011-12, sources close to Finance Minister told Business Recorder here on Tuesday. Growth statistics fo
The government has projected economic growth at 4.2 percent of Gross Domestic Product (GDP), and inflation lower than 12 percent for fiscal year 2011-12, sources close to Finance Minister told Business Recorder here on Tuesday. Growth statistics fo
The government has projected economic growth at 4.2 percent of Gross Domestic Product (GDP), and inflation lower than 12 percent for fiscal year 2011-12, sources close to Finance Minister told Business Recorder here on Tuesday. Growth statistics fo
China stormed back to post a hefty trade surplus in April as exports hit a record while imports eased more than expected, weighed down by sustained monetary tightening and high commodity prices. The surplus of $11.4 billion, nearly four times greater than
China stormed back to post a hefty trade surplus in April as exports hit a record while imports eased more than expected, weighed down by sustained monetary tightening and high commodity prices. The surplus of $11.4 billion, nearly four times greater than
China stormed back to post a hefty trade surplus in April as exports hit a record while imports eased more than expected, weighed down by sustained monetary tightening and high commodity prices. The surplus of $11.4 billion, nearly four times greater than
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 Commi
US Treasury Secretary Timothy Geithner and Chinese Vice Premier Wang Qishan on Tuesday signed a broad pact setting out a framework for future co-operation on trade and investment. A Treasury officials said the document covers four areas that the two count
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
US Treasury Secretary Timothy Geithner and Chinese Vice Premier Wang Qishan on Tuesday signed a broad pact setting out a framework for future co-operation on trade and investment. A Treasury officials said the document covers four areas that the two count
US Treasury Secretary Timothy Geithner and Chinese Vice Premier Wang Qishan on Tuesday signed a broad pact setting out a framework for future co-operation on trade and investment. A Treasury officials said the document covers four areas that the two count
China, the world's largest soya buyer, imported 3.88 million tonnes of soyabeans in April, up 10.5 percent from 3.51 million tonnes in March, figures from the General Administration of Customs of China showed on Tuesday. But April imports fell 7.4 percent
Global palm oil demand is likely to continue rising in May because of its competitive price compared to rival vegetable oils including soyaoil, Hamburg-based oilseeds analysts Oil World said on Tuesday. "World palm oil import demand started to pick up in
The Karachi Port handled 132,276 tonnes of cargo including 91,232 tonnes of import cargo, 41,044 tonnes of export cargo and 4,628 loaded & empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 91,232 tonnes compri
Vietnam's coffee exports for May loading could fall to between 80,000 and 100,000 tonnes from around 130,000 tonnes last month, as domestic stocks were thinned by previously strong shipments to gain from high prices, traders said on Tuesday.
Indonesia's white sugar production will rise 17 percent this year, as Southeast Asia's largest sugar consumer targets self-sufficiency by 2014, an industry body said on Monday. Plantation expansions and improving weather conditions will help boost output,
Upward trend was seen on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The May vaida that had closed at Rs 1332.80 opened with a gain of 40 paisa at Rs 1333.20. The July contract which closed at Rs 1420.50 commence
Trading activity came down on the cotton market on Tuesday despite fresh decline in the prices, dealers said. The Karachi Cotton Association (KCA) official spot rate was inert at Rs 8,500, they said. In Sindh and Punjab phutti price of low type was at Rs
The average price of Bangladeshi teas fell 3.0 percent to 165 taka ($2.26) per kg on lower foreign demand at the weekly auction on Tuesday, brokers said. Some 27 percent of the 912,000 kg on offer remained unsold and were taken back to the storage. Bangla
A few transactions were seen on the wholesale grain market on Tuesday as some buyers were active to cover the immediate needs, dealers said. On the cereal side wheat old Bardan and new was up on supply position, picking up Rs 5 to Rs 2390-2405, other item
Australia expects a fiscal surplus in 2012/13 and will seek to ease a shortage of skilled workers that threatens to fuel inflation as the economy rides an historic resources boom, the minority Labour government said in its first budget on Tuesday.
EU trade commissioner Karel De Gucht warned Tuesday that special export favours granted to Brazil, China, India and Russia among scores of fast-growing economies no longer "make sense." De Gucht told a news conference at the European Parliament in Strasbo
US bank regulators would more strictly supervise banks' relationships with retail customers who speculate in the foreign exchange market, under a proposal issued on Tuesday. The Federal Deposit Insurance Corp plan would require retail customers who engage
The European Union's executive on Tuesday unveiled plans to exclude middle-income countries such as Russia and Brazil from a preferential trade regime, saying it wants to concentrate concessions on poorer countries. The EU's current General System of Pref
The cost of imported products in the United States rose for a seventh straight month in April thanks to a weaker dollar, and more owners of small businesses raised prices, in potentially worrying signs of inflation. Import costs rose 2.2 percent after inc
Chinese airlines have joined US rivals in opposing their inclusion in the European Union's carbon emissions market from 2012, while some European airlines have supported including all airlines in the scheme. From January 1 next year, the EU will require a
More than $1.5 trillion of the world's wealth is exposed to harm from natural disasters, as the economic risks soar despite signs that efforts to reduce the human toll are working, the UN said Tuesday. A report for a biennial UN conference on disaster ris
Microsoft Corp plans to buy Internet phone service Skype for $8.5 billion in its biggest-ever acquisition, placing a rich bet on mobile and the Internet to try to best rivals such as Google Inc. In a deal that took a month from offer to signing, the softw
Iran will soon sign a contract with political allies Syria and Iraq to export its natural gas to the Mediterranean region, a senior energy official was quoted as saying by the semi-official Mehr news agency on Tuesday. Iranian and Syrian oil ministers sai
British retail sales surged at their fastest annual pace in five years and house prices fell more slowly in April, surveys showed, although the timing of Easter flattered the shop figures and the outlook is gloomy. The British Retail Consortium said annua
German Chancellor Angela Merkel, Europe's reluctant paymaster, said on Tuesday she could only discuss further aid for Greece after EU and IMF officials report on implementation of its existing rescue plan. Speaking to foreign correspondents in Berlin, Mer
India's exports could grow nearly 12 percent to $275 billion in the fiscal year that began in April, lower than the government's target, partly due to rising interest rates, even if tax incentives continue, the head of an exporters' body said on Tuesday.
Deutsche Post DHL posted consensus-beating quarterly earnings and affirmed its 2011 outlook as demand from Asia boosted profits at its express delivery business. "Asia is still growing faster than Europe and the United States, and we expect it to remain t
Deutsche Post DHL posted consensus-beating quarterly earnings and affirmed its 2011 outlook as demand from Asia boosted profits at its express delivery business. "Asia is still growing faster than Europe and the United States, and we expect it to remain t
The earthquakes that struck New Zealand in September and February will eat up about 7.5 percent its GDP, more than the cost of the recent disaster in Japan on Tokyo's economy, the IMF said Monday. The International Monetary Fund estimated that rebuilding