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Oct 25, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2011-05-11
Index gains 79.34 points

Index gains 79.34 points

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
Published 11 May, 2011 12:00am
Index gains 79.34 points

Index gains 79.34 points

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
Published 11 May, 2011 12:00am
Pakistan, Nato to ink deal on information exchange

Pakistan, Nato to ink deal on information exchange

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
Published 11 May, 2011 12:00am
Pakistan, Nato to ink deal on information exchange

Pakistan, Nato to ink deal on information exchange

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
Published 11 May, 2011 12:00am
FBR working to raise WHT on services to 10 percent

FBR working to raise WHT on services to 10 percent

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
Published 11 May, 2011 12:00am
FBR working to raise WHT on services to 10 percent

FBR working to raise WHT on services to 10 percent

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
Published 11 May, 2011 12:00am
FBR working to raise WHT on services to 10 percent

FBR working to raise WHT on services to 10 percent

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
Published 11 May, 2011 12:00am
US touts 'progress' on Pakistan cooperation

US touts 'progress' on Pakistan cooperation

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
Published 11 May, 2011 12:00am
US touts 'progress' on Pakistan cooperation

US touts 'progress' on Pakistan cooperation

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
Published 11 May, 2011 12:00am
US was prepared for clash in bin Laden raid: report

US was prepared for clash in bin Laden raid: report

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
Published 11 May, 2011 12:00am
US was prepared for clash in bin Laden raid: report

US was prepared for clash in bin Laden raid: report

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
Published 11 May, 2011 12:00am
Kerry to visit Islamabad as tensions grow

Kerry to visit Islamabad as tensions grow

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
Published 11 May, 2011 12:00am
Kerry to visit Islamabad as tensions grow

Kerry to visit Islamabad as tensions grow

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
Published 11 May, 2011 12:00am
Government may let US grill Osama bin Laden's wives

Government may let US grill Osama bin Laden's wives

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.
Published 11 May, 2011 12:00am
Government may let US grill Osama bin Laden's wives

Government may let US grill Osama bin Laden's wives

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.
Published 11 May, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (May 10, 2011).
Published 11 May, 2011 12:00am
External debt servicing rises to $6.946 billion

External debt servicing rises to $6.946 billion

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
Published 11 May, 2011 12:00am
External debt servicing rises to $6.946 billion

External debt servicing rises to $6.946 billion

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
Published 11 May, 2011 12:00am
External debt servicing rises to $6.946 billion

External debt servicing rises to $6.946 billion

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
Published 11 May, 2011 12:00am
Planning Commission seeks Rs 375 billion for PSDP

Planning Commission seeks Rs 375 billion for PSDP

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
Published 11 May, 2011 12:00am
Planning Commission seeks Rs 375 billion for PSDP

Planning Commission seeks Rs 375 billion for PSDP

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
Published 11 May, 2011 12:00am
Planning Commission seeks Rs 375 billion for PSDP

Planning Commission seeks Rs 375 billion for PSDP

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
Published 11 May, 2011 12:00am
Government to review gas pricing formula for power plants

Government to review gas pricing formula for power plants

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.
Published 11 May, 2011 12:00am
Government to review gas pricing formula for power plants

Government to review gas pricing formula for power plants

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.
Published 11 May, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (May 10, 2011).
Published 11 May, 2011 12:00am
Government to review gas pricing formula for power plants

Government to review gas pricing formula for power plants

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.
Published 11 May, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (May 10, 2011).
Published 11 May, 2011 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 Tuesday (May 10, 2011).
Published 11 May, 2011 12:00am
4.2 percent growth projected for Fiscal year 2011-12

4.2 percent growth projected for Fiscal year 2011-12

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
Published 11 May, 2011 12:00am
4.2 percent growth projected for Fiscal year 2011-12

4.2 percent growth projected for Fiscal year 2011-12

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
Published 11 May, 2011 12:00am
4.2 percent growth projected for Fiscal year 2011-12

4.2 percent growth projected for Fiscal year 2011-12

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
Published 11 May, 2011 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 Tuesday (May 10, 2011).
Published 11 May, 2011 12:00am
China trade surplus surges

China trade surplus surges

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
Published 11 May, 2011 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 Tuesday (May 10, 2011).
Published 11 May, 2011 12:00am
China trade surplus surges

China trade surplus surges

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
Published 11 May, 2011 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 Tuesday (May 10, 2011).
Published 11 May, 2011 12:00am
China trade surplus surges

China trade surplus surges

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
Published 11 May, 2011 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 Commi
Published 11 May, 2011 12:00am
US and China sign pact for trade, investment cooperation

US and China sign pact for trade, investment cooperation

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
Published 11 May, 2011 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 11 May, 2011 12:00am
US and China sign pact for trade, investment cooperation

US and China sign pact for trade, investment cooperation

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
Published 11 May, 2011 12:00am
US and China sign pact for trade, investment cooperation

US and China sign pact for trade, investment cooperation

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
Published 11 May, 2011 12:00am
China's April soya imports up versus March

China's April soya imports up versus March

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
Published 11 May, 2011 12:00am
Global palm oil demand to rise in May: Oil World

Global palm oil demand to rise in May: Oil World

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
Published 11 May, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

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
Published 11 May, 2011 12:00am
Vietnam's May coffee exports seen down

Vietnam's May coffee exports seen down

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.
Published 11 May, 2011 12:00am
Indonesia aims for sugar self-sufficiency by 2014

Indonesia aims for sugar self-sufficiency by 2014

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,
Published 11 May, 2011 12:00am
Oil cake market rates

Oil cake market rates

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
Published 11 May, 2011 12:00am
Business remains thin on cotton market despite lower prices

Business remains thin on cotton market despite lower prices

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
Published 11 May, 2011 12:00am
Bangladeshi tea prices fall

Bangladeshi tea prices fall

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
Published 11 May, 2011 12:00am
A few items' prices change in low volume on grain market

A few items' prices change in low volume on grain market

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
Published 11 May, 2011 12:00am
Australia seeks to harness mining boom, avoid inflation

Australia seeks to harness mining boom, avoid inflation

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.
Published 11 May, 2011 12:00am
EU trade chief warns BRIC favours no longer 'make sense'

EU trade chief warns BRIC favours no longer 'make sense'

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
Published 11 May, 2011 12:00am
US FDIC unveils retail foreign exchange rule

US FDIC unveils retail foreign exchange rule

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
Published 11 May, 2011 12:00am
Plan to cut EU trade benefits for Russia, Brazil unveiled

Plan to cut EU trade benefits for Russia, Brazil unveiled

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
Published 11 May, 2011 12:00am
US import, small business data point to inflation

US import, small business data point to inflation

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
Published 11 May, 2011 12:00am
China opposes EU move to curb airline emissions

China opposes EU move to curb airline emissions

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
Published 11 May, 2011 12:00am
Economic risks of disasters soar over $1.5 trillion: UN

Economic risks of disasters soar over $1.5 trillion: UN

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
Published 11 May, 2011 12:00am
Microsoft to buy Skype for pricey $8.5 billion

Microsoft to buy Skype for pricey $8.5 billion

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
Published 11 May, 2011 12:00am
Iran to sign gas deal with Syria, Iraq

Iran to sign gas deal with Syria, Iraq

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
Published 11 May, 2011 12:00am
UK retail sales make biggest leap since April 2006

UK retail sales make biggest leap since April 2006

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
Published 11 May, 2011 12:00am
EU paymaster Merkel guarded on new aid for Greece

EU paymaster Merkel guarded on new aid for Greece

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
Published 11 May, 2011 12:00am
India's exports may rise 12 percent

India's exports may rise 12 percent

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.
Published 11 May, 2011 12:00am
Deutsche Post first quarter boosted by Asian express demand

Deutsche Post first quarter boosted by Asian express demand

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
Published 11 May, 2011 12:00am
Deutsche Post first quarter boosted by Asian express demand

Deutsche Post first quarter boosted by Asian express demand

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
Published 11 May, 2011 12:00am
New Zealand quake cost heavier than Japan's: IMF

New Zealand quake cost heavier than Japan's: IMF

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
Published 11 May, 2011 12:00am
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