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Print - 2011-06-28
Euro slumps in Asia

Euro slumps in Asia

The euro struggled near a record low against the Swiss franc on Monday and fell versus the dollar, staying under pressure ahead of this week's decision by the Greek parliament on whether to back austerity reforms demanded by international lenders. Greece
Published 28 Jun, 2011 12:00am
Sterling weakens

Sterling weakens

Sterling weakened to five-month lows against the dollar on Monday as worries about the European debt crisis ahead of a key Greek vote on reforms required for further aid curtailed risk appetite and investors bought safe-haven currencies. The pound is like
Published 28 Jun, 2011 12:00am
UK's top share index rises

UK's top share index rises

Britain's leading share index ended higher on Monday, supported by a rally from commodity issues and banks as investors awaited news about Greece's debt crisis, expected over the next few days. Greece's parliament began on Monday to debate measures to inc
Published 28 Jun, 2011 12:00am
Australia shares off one percent

Australia shares off one percent

Australian shares lost 1.0 percent on Monday, holding just above the year's low hit a week ago, and on track for the worst quarterly performance in a year as global worries deterred investors. Ahead of the fiscal year-end on Thursday, investors had little
Published 28 Jun, 2011 12:00am
Seoul shares lower

Seoul shares lower

Seoul shares ended lower on Monday as foreign investors sold amid continued concern about the Greek debt situation ahead of a crucial parliamentary vote later this week. The Korea Composite Stock Price Index ended down 0.98 percent or 20.52 points at 2,07
Published 28 Jun, 2011 12:00am
European shares higher

European shares higher

European shares edged higher on Monday in a choppy session, helped by signs of progress on how private bondholders might share the burden of a solution to Greece's debt problem. Volumes were low and likely exaggerating movements. The Euro STOXX 50 volatil
Published 28 Jun, 2011 12:00am
China shares advance, Hong Kong index slips

China shares advance, Hong Kong index slips

China shares rose on Monday, buoyed by transportation and industrial plays as oil prices fell, while Hong Kong stocks slipped on profit-taking triggered by weakness overseas. Mainland shares listed in Hong Kong however rose, suggesting market players who
Published 28 Jun, 2011 12:00am
Indian shares continue gains

Indian shares continue gains

Indian shares extended their rise for the third straight session as they gained 0.9 percent on Monday, with state-run oil companies rallying after the government raised state-controlled fuel prices, which would boost their earnings. Traders said the marke
Published 28 Jun, 2011 12:00am
LSE makes latest high-frequency move

LSE makes latest high-frequency move

The London Stock Exchange has launched a super-fast trading service in its latest bid to court more business from high-frequency trading (HFT) firms. The British exchange, which has seen its share of British equity trading eroded by faster rivals in the p
Published 28 Jun, 2011 12:00am
Taiwan stocks at three-month low

Taiwan stocks at three-month low

Taiwan stocks fell 0.38 percent to a near three-month closing low on Monday, led by tech exporters including TSMC, on concerns Greece's debt problems could spread further and damage global growth prospects. Taiwan's market is under increasing pressure to
Published 28 Jun, 2011 12:00am
Monday's midday trade: Wall Street rebounds

Monday's midday trade: Wall Street rebounds

US stocks rebounded from three days of losses on Monday, led by banks after regulators announced global capital rules that investors viewed as less as onerous as previously anticipated. Financials, which have been pressured by the eurozone sovereign debt
Published 28 Jun, 2011 12:00am
Nikkei average drops

Nikkei average drops

The Nikkei stock average dropped one percent on Monday, as eurozone debt worries weighed on markets before a crucial parliamentary vote in Greece this week, with investors fretting over fallout from the debt crisis in the banking system.
Published 28 Jun, 2011 12:00am
Most Southeast Asian markets retreat

Most Southeast Asian markets retreat

Most Southeast Asian stock markets retreated on Monday as investors sold resources amid weak global crude prices and cautious trade ahead of a vote by the Greek parliament on unpopular fiscal austerity measures. The regional pullback came amid light marke
Published 28 Jun, 2011 12:00am
Middle East markets: Egypt bourse falls on year-end selling

Middle East markets: Egypt bourse falls on year-end selling

Egypt's bourse fell on Monday as investors locked in gains at the end of a financial year, encouraged by a bearish economic outlook, and Oman's index fell to a four-week low. "Ninety percent of this drop is profit taking by retail clients and local instit
Published 28 Jun, 2011 12:00am
French banks agree to roll over Greek debt

French banks agree to roll over Greek debt

France offered a radical solution on Monday for banks to roll over holdings of Greek debt for 30 years as the Greek government fought to get backbench rebels to support a crucial austerity plan to avert bankruptcy. With depositors fleeing Greek banks in g
Published 28 Jun, 2011 12:00am
China tightens rules on state firms' activity

China tightens rules on state firms' activity

China has unveiled new rules to tighten its grip on state firms' overseas activity, including their mergers and acquisitions, to help prevent the potential loss of state assets. Under the lengthy rules issued by the State Asset Supervision and Administrat
Published 28 Jun, 2011 12:00am
Vedanta takes 10 percent stake in Cairn India, rejigs deal

Vedanta takes 10 percent stake in Cairn India, rejigs deal

Vedanta Resources Plc took another 10 percent stake in Cairn Energy's Indian assets as part of an overhaul of a long-delayed deal which will cut the price tag by more than $600 million. As part of changes announced on Monday, the deal will complete in two
Published 28 Jun, 2011 12:00am
UK and China announce deals worth $2.3 billion

UK and China announce deals worth $2.3 billion

Britain and China unveiled a series of deals worth 1.4 billion pounds ($2.3 billion) during a visit by Chinese Premier Wen Jiabao on Monday, including a new agreement between energy group BG Group and Bank of China to help BG expand there.
Published 28 Jun, 2011 12:00am
Lifeline for Saab as carmaker wins Chinese order

Lifeline for Saab as carmaker wins Chinese order

Swedish Automobile, the parent company of ailing carmaker Saab, was given a glimmer of hope after winning an order for new cars that will enable it to pay wages and suppliers and resume production. Saab is scrambling for funds after saying last week it di
Published 28 Jun, 2011 12:00am
India's growth to overtake China's

India's growth to overtake China's

India's growth rate is poised to overtake China's within two to three years, despite a near-term slowdown, a top Indian economic adviser said on Monday. Kaushik Basu told a conference that it was necessary for India to throttle back growth in the short-te
Published 28 Jun, 2011 12:00am
Globalisation increases risk: OECD

Globalisation increases risk: OECD

Increasing globalisation increases the risk that a major event such as a disease outbreak of financial collapse will prove more disruptive to the world economy while also making them more likely, the OECD said on Monday. The OECD, which groups the world's
Published 28 Jun, 2011 12:00am
US consumer spending breaks 10-month rising streak

US consumer spending breaks 10-month rising streak

US consumer spending failed to rise in May, breaking a string of 10 straight months of gains, as households struggled with rising prices and automakers could not deliver the models Americans wanted. When adjusted for inflation, spending slipped 0.1 percen
Published 28 Jun, 2011 12:00am
Strike hits Standard Chartered's South Korean unit

Strike hits Standard Chartered's South Korean unit

Thousands of workers at Standard Chartered bank's South Korean unit launched an indefinite strike on Monday in protest at management efforts to push ahead with a performance-based pay system. About 3,000 unionised workers of SC First Bank - almost half it
Published 28 Jun, 2011 12:00am
Bank capital surcharge, CoCo blow may force cash calls

Bank capital surcharge, CoCo blow may force cash calls

Europe's banks may need to raise over 50 billion euros ($71.6 billion) after regulators slapped an extra capital surcharge on big lenders to make them safer and forbid the use of debt to pad out the extra cushion. Bank shares hit a low for the year as len
Published 28 Jun, 2011 12:00am
EU scuppers VW plans to take control of MAN

EU scuppers VW plans to take control of MAN

Volkswagen AG suffered a setback in its efforts to create Europe's biggest truckmaker as a European regulator pushed it to drop plans to take control of MAN SE's supervisory board. The German carmaker, which has made a take-over offer for MAN that expires
Published 28 Jun, 2011 12:00am
Cstorseeds rates up in slow trade on grain market

Cstorseeds rates up in slow trade on grain market

Subdued business was seen on the wholesale grain market on Monday as most of the retailers were on the sidelines due to upward trend in the rates, dealers said. On the rice sector Irri-6 Sindh low type retained the weekend level at Rs 3650 while the good
Published 28 Jun, 2011 12:00am
Higher asking prices keep buyers away from deals on cotton market

Higher asking prices keep buyers away from deals on cotton market

Slow business was witnessed on the cotton market on Monday as mills kept to sidelines due to higher asking prices, dealers said. The Karachi Cotton Association (KCA) official spot rate was left unchanged at Rs 8,650, they said. In Sindh price of new Phutt
Published 28 Jun, 2011 12:00am
Oil cake market rates

Oil cake market rates

The July vaida was higher on the forward cottonseed oilcake market on Monday and December vaida was unchanged in process of trading, dealers said. The July contract that had closed at 1425.10 last week opened with 30 paisa gain at Rs 1425.40. The December
Published 28 Jun, 2011 12:00am
Brazil's coffee areas turn cold but no frost

Brazil's coffee areas turn cold but no frost

Minimum night-time temperatures will tumble in the next few days in Brazil's coffee areas but a mass of polar air will not cause a crop-damaging frost, forecaster Somar said on Monday. A combination of a cold front and mass of polar air are making nights
Published 28 Jun, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 243,280 tonnes of cargo including 164,843 tonnes of import cargo, 78,437 tonnes of export cargo and 3,992 loaded & empty containers during last 48 hours ended at 0700 hours on Monday. The total import cargo of 164,843 tonnes compr
Published 28 Jun, 2011 12:00am
Vietnam's soya imports to more than double in 2012

Vietnam's soya imports to more than double in 2012

Vietnam's soyabean imports next year, mainly from South America, are forecast to more than double to 1.5 million tonnes thanks to demand largely from the country's two crushing plants, both opened this year, traders said on Monday. Soyabean import this ye
Published 28 Jun, 2011 12:00am
Vietnam's June coffee exports jump 21.2 percent

Vietnam's June coffee exports jump 21.2 percent

Vietnam's June coffee exports rose an estimated 21.2 percent from a year ago to 115,000 tonnes, or 1.92 million bags, exceeding market expectations, the agriculture ministry said. The estimate is above trader forecasts, which projected the monthly shipmen
Published 28 Jun, 2011 12:00am
Heavy rains sour cocoa in south-east Ivory Coast

Heavy rains sour cocoa in south-east Ivory Coast

Heavy rains in Southeastern Ivory Coast have hurt the region's cocoa sector, hindering drying and fermenting operations and damaging key roads to market, farmers said. The downpours come amid rising concern over bean quality in the world's top grower nati
Published 28 Jun, 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 28 Jun, 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 28 Jun, 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 Monday (June 27, 2011).

Published 28 Jun, 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 Monday (June 27, 2011).

Published 28 Jun, 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 Monday (June 27, 2011).

Published 28 Jun, 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 Monday (June 27, 2011).

Published 28 Jun, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (June 27, 2011).
Published 28 Jun, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (June 27, 2011).

Published 28 Jun, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (June 27, 2011).

Published 28 Jun, 2011 12:00am
Rupee shows resilience during fiscal year 2011

Rupee shows resilience during fiscal year 2011

Despite several economic challenges, controlled external account has kept the rupee stable against dollar, and the rupee depreciated against dollar by only 0.5 percent during fiscal year 2010-11 (FY11) against the average depreciation of 7 percent in past
Published 28 Jun, 2011 12:00am
Rupee shows resilience during fiscal year 2011

Rupee shows resilience during fiscal year 2011

Despite several economic challenges, controlled external account has kept the rupee stable against dollar, and the rupee depreciated against dollar by only 0.5 percent during fiscal year 2010-11 (FY11) against the average depreciation of 7 percent in past
Published 28 Jun, 2011 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (June 27, 2011).
Published 28 Jun, 2011 12:00am
Rupee shows resilience during fiscal year 2011

Rupee shows resilience during fiscal year 2011

Despite several economic challenges, controlled external account has kept the rupee stable against dollar, and the rupee depreciated against dollar by only 0.5 percent during fiscal year 2010-11 (FY11) against the average depreciation of 7 percent in past
Published 28 Jun, 2011 12:00am
MQM urges SHC to declare AJK poll illegal: petition filed

MQM urges SHC to declare AJK poll illegal: petition filed

Muttahida Qaumi Movement (MQM) on Monday filed a petition in the Sindh High Court (SHC) against the postponement of AJK election in Karachi. The MQM urged the court to declare the AJK elections illegal on grounds of alleged government interference in the
Published 28 Jun, 2011 12:00am
MQM urges SHC to declare AJK poll illegal: petition filed

MQM urges SHC to declare AJK poll illegal: petition filed

Muttahida Qaumi Movement (MQM) on Monday filed a petition in the Sindh High Court (SHC) against the postponement of AJK election in Karachi. The MQM urged the court to declare the AJK elections illegal on grounds of alleged government interference in the
Published 28 Jun, 2011 12:00am
Ibad urged to reconsider decision

Ibad urged to reconsider decision

Farhatullah Babar, Spokesperson of President Asif Ali Zardari, has said that the PPP will urge Sindh Governor to reconsider his decision to resign. Responding to media queries, the spokesperson said that the president was in the UK and the reported resign
Published 28 Jun, 2011 12:00am
Ibad urged to reconsider decision

Ibad urged to reconsider decision

Farhatullah Babar, Spokesperson of President Asif Ali Zardari, has said that the PPP will urge Sindh Governor to reconsider his decision to resign. Responding to media queries, the spokesperson said that the president was in the UK and the reported resign
Published 28 Jun, 2011 12:00am
SBP appoints 11 primary dealers

SBP appoints 11 primary dealers

The State Bank of Pakistan (SBP) has appointed eleven Primary Dealers for the next financial year which include JS Bank Limited, Habib Bank Limited, National Bank of Pakistan, Faysal Bank Limited, Standard Chartered Bank (Pakistan) Limited, United Bank Li
Published 28 Jun, 2011 12:00am
LNG import: 17 EoIs received by SSGC

LNG import: 17 EoIs received by SSGC

The Sui Southern Gas Company (SSGC) has received 17 Expressions of Interest (EoIs) from interested parties, which include some leading LNG operators, on its invitation for Liquefied Natural Gas (LNG) import under a ''third party access regime''.
Published 28 Jun, 2011 12:00am
LNG import: 17 EoIs received by SSGC

LNG import: 17 EoIs received by SSGC

The Sui Southern Gas Company (SSGC) has received 17 Expressions of Interest (EoIs) from interested parties, which include some leading LNG operators, on its invitation for Liquefied Natural Gas (LNG) import under a 'third party access regime'.
Published 28 Jun, 2011 12:00am
LNG import: 17 EoIs received by SSGC

LNG import: 17 EoIs received by SSGC

The Sui Southern Gas Company (SSGC) has received 17 Expressions of Interest (EoIs) from interested parties, which include some leading LNG operators, on its invitation for Liquefied Natural Gas (LNG) import under a 'third party access regime'.
Published 28 Jun, 2011 12:00am
SBP appoints 11 primary dealers

SBP appoints 11 primary dealers

The State Bank of Pakistan (SBP) has appointed eleven Primary Dealers for the next financial year which include JS Bank Limited, Habib Bank Limited, National Bank of Pakistan, Faysal Bank Limited, Standard Chartered Bank (Pakistan) Limited, United Bank Li
Published 28 Jun, 2011 12:00am
SBP appoints 11 primary dealers

SBP appoints 11 primary dealers

The State Bank of Pakistan (SBP) has appointed eleven Primary Dealers for the next financial year which include JS Bank Limited, Habib Bank Limited, National Bank of Pakistan, Faysal Bank Limited, Standard Chartered Bank (Pakistan) Limited, United Bank Li
Published 28 Jun, 2011 12:00am
N D Khan to be new Sindh Governor?

N D Khan to be new Sindh Governor?

Pakistan Peoples Party (PPP) is considering appointing veteran politician Professor N D Khan as new governor Sindh following resignation of MQM's Dr Ishrat-ul-Ibad Khan, Aaj News reported on Monday. Quoting the sources, the channel also said that f
Published 28 Jun, 2011 12:00am
LTFF Scheme: packaging plant also eligible for refinance: SBP

LTFF Scheme: packaging plant also eligible for refinance: SBP

The State Bank of Pakistan (SBP) on Monday announced that plant and machinery used in the export-oriented projects for producing packaging material exclusively used in packaging/preservation of food items are also eligible for refinance under the Long Ter
Published 28 Jun, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 28 Jun, 2011 12:00am