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Print - 2011-07-27
Auctioning of 3G licenses may be approved

Auctioning of 3G licenses may be approved

The Cabinet today (Wednesday) is likely to approve open auctioning of 3G licenses for upgradation of telecom services in the country by offering 20 MHz to 35 MHz frequency to the five telecom players in the market that would enable the government to gener
Published 27 Jul, 2011 12:00am
Auctioning of 3G licenses may be approved

Auctioning of 3G licenses may be approved

The Cabinet today (Wednesday) is likely to approve open auctioning of 3G licenses for upgradation of telecom services in the country by offering 20 MHz to 35 MHz frequency to the five telecom players in the market that would enable the government to gener
Published 27 Jul, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (July 26, 2011).

Published 27 Jul, 2011 12:00am
PaCCS operation restored

PaCCS operation restored

The cargo clearances both inward and outward at all three terminals, which were suspended since Monday midnight after Agility Logistics a software developer of Pakistan Customs Computerised System (PaCCS) shut its operations, have been restored after 19 h
Published 27 Jul, 2011 12:00am
PaCCS operation restored

PaCCS operation restored

The cargo clearances both inward and outward at all three terminals, which were suspended since Monday midnight after Agility Logistics a software developer of Pakistan Customs Computerised System (PaCCS) shut its operations, have been restored after 19 h
Published 27 Jul, 2011 12:00am
PaCCS operation restored

PaCCS operation restored

The cargo clearances both inward and outward at all three terminals, which were suspended since Monday midnight after Agility Logistics a software developer of Pakistan Customs Computerised System (PaCCS) shut its operations, have been restored after 19 h
Published 27 Jul, 2011 12:00am
Pakistan still unprepared for floods: Oxfam

Pakistan still unprepared for floods: Oxfam

International aid agency Oxfam on Tuesday claimed that government is still not prepared for current year's monsoon floods and other natural disasters despite passage of one year after worst flooding. Two to five million people are likely to be affected by
Published 27 Jul, 2011 12:00am
Pakistan still unprepared for floods: Oxfam

Pakistan still unprepared for floods: Oxfam

International aid agency Oxfam on Tuesday claimed that government is still not prepared for current year's monsoon floods and other natural disasters despite passage of one year after worst flooding. Two to five million people are likely to be affected by
Published 27 Jul, 2011 12:00am
Government plans to import 0.763 million tons of urea

Government plans to import 0.763 million tons of urea

The federal government is planning to import 0.763 million tons of urea for Kharif 2011 and Rabi 2011-12 due to gas curtailment, which involves Rs 18.374 billion subsidy, this is in addition to 150,000 tons fertiliser being imported from Saudi Arabia unde
Published 27 Jul, 2011 12:00am
Government plans to import 0.763 million tons of urea

Government plans to import 0.763 million tons of urea

The federal government is planning to import 0.763 million tons of urea for Kharif 2011 and Rabi 2011-12 due to gas curtailment, which involves Rs 18.374 billion subsidy, this is in addition to 150,000 tons fertiliser being imported from Saudi Arabia unde
Published 27 Jul, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (July 26, 2011).

Published 27 Jul, 2011 12:00am
Government plans to import 0.763 million tons of urea

Government plans to import 0.763 million tons of urea

The federal government is planning to import 0.763 million tons of urea for Kharif 2011 and Rabi 2011-12 due to gas curtailment, which involves Rs 18.374 billion subsidy, this is in addition to 150,000 tons fertiliser being imported from Saudi Arabia unde
Published 27 Jul, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (July 26, 2011).
Published 27 Jul, 2011 12:00am
US has three days grace before CDS triggered: ISD

US has three days grace before CDS triggered: ISD

The United States would have at least three days to make up for any missed debt payments before it triggered payments on its credit default swaps, according to trade association the International Swaps and Derivatives Association. If the United States doe
Published 27 Jul, 2011 12:00am
US has three days grace before CDS triggered: ISD

US has three days grace before CDS triggered: ISD

The United States would have at least three days to make up for any missed debt payments before it triggered payments on its credit default swaps, according to trade association the International Swaps and Derivatives Association. If the United States doe
Published 27 Jul, 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 (July 26, 2011).

Published 27 Jul, 2011 12:00am
US has three days grace before CDS triggered: ISD

US has three days grace before CDS triggered: ISD

The United States would have at least three days to make up for any missed debt payments before it triggered payments on its credit default swaps, according to trade association the International Swaps and Derivatives Association. If the United States doe
Published 27 Jul, 2011 12:00am
US default: IMF chief warns of global dangers

US default: IMF chief warns of global dangers

IMF chief Christine Lagarde warned Tuesday the clock was ticking on a US debt deal, as the dollar slid to new lows amid concerns of a looming and unprecedented default by the world''s top economy. With a week to go before the United States hits an August
Published 27 Jul, 2011 12:00am
US default: IMF chief warns of global dangers

US default: IMF chief warns of global dangers

IMF chief Christine Lagarde warned Tuesday the clock was ticking on a US debt deal, as the dollar slid to new lows amid concerns of a looming and unprecedented default by the world's top economy. With a week to go before the United States hits an August 2
Published 27 Jul, 2011 12:00am
US default: IMF chief warns of global dangers

US default: IMF chief warns of global dangers

IMF chief Christine Lagarde warned Tuesday the clock was ticking on a US debt deal, as the dollar slid to new lows amid concerns of a looming and unprecedented default by the world's top economy. With a week to go before the United States hits an August 2
Published 27 Jul, 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 (July 26, 2011).

Published 27 Jul, 2011 12:00am
Soros to return outsiders'''' hedge fund money

Soros to return outsiders'''' hedge fund money

Billionaire investor George Soros, whose stock-picking career has spanned nearly four decades, said he will manage money only for himself as new regulations threaten to crimp the hedge fund industry he made famous. The octogenarian fund manager, known as
Published 27 Jul, 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 (July 26, 2011).

Published 27 Jul, 2011 12:00am
Soros to return outsiders'' hedge fund money

Soros to return outsiders'' hedge fund money

Billionaire investor George Soros, whose stock-picking career has spanned nearly four decades, said he will manage money only for himself as new regulations threaten to crimp the hedge fund industry he made famous. The octogenarian fund manager, known as
Published 27 Jul, 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 (July 26, 2011).

Published 27 Jul, 2011 12:00am
Soros to return outsiders' hedge fund money

Soros to return outsiders' hedge fund money

Billionaire investor George Soros, whose stock-picking career has spanned nearly four decades, said he will manage money only for himself as new regulations threaten to crimp the hedge fund industry he made famous. The octogenarian fund manager, known as
Published 27 Jul, 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 27 Jul, 2011 12:00am
Soros to return outsiders' hedge fund money

Soros to return outsiders' hedge fund money

Billionaire investor George Soros, whose stock-picking career has spanned nearly four decades, said he will manage money only for himself as new regulations threaten to crimp the hedge fund industry he made famous. The octogenarian fund manager, known as
Published 27 Jul, 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 27 Jul, 2011 12:00am
'Protecting honour of judiciary': Shahbaz for another 'long march'

'Protecting honour of judiciary': Shahbaz for another 'long march'

The PPP-led federal government has declared war against the superior judiciary and we are ready to sacrifice our government to protect the judiciary's honour and dignity, Punjab Chief Minister Mohammad Shahbaz Sharif said here on Tuesday. Addressing a new
Published 27 Jul, 2011 12:00am
'Protecting honour of judiciary': Shahbaz for another 'long march'

'Protecting honour of judiciary': Shahbaz for another 'long march'

The PPP-led federal government has declared war against the superior judiciary and we are ready to sacrifice our government to protect the judiciary's honour and dignity, Punjab Chief Minister Mohammad Shahbaz Sharif said here on Tuesday. Addressing a new
Published 27 Jul, 2011 12:00am
New York cotton

New York cotton

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

Published 27 Jul, 2011 12:00am
New York cotton

New York cotton

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

Published 27 Jul, 2011 12:00am
Western Australian wheat output likely to double

Western Australian wheat output likely to double

Wheat output in Western Australia, which produces high-quality milling grain, is likely to double to around 9 million tonnes this year following ideal crop weather, boosting prospects of wheat exports from the country in the coming marketing season.
Published 27 Jul, 2011 12:00am
Canadian canola futures fall to lowest in three weeks

Canadian canola futures fall to lowest in three weeks

ICE Canada canola futures fell on Monday to their lowest in three weeks, tracking Chicago soya futures that weakened amid better US crop weather and fears about US debt, traders said. Losses weakened canola's technical indicators, which led to fund sellin
Published 27 Jul, 2011 12:00am
US corn, soya futures rise as heat dims yield outlook

US corn, soya futures rise as heat dims yield outlook

Corn and soyabean futures rose on Tuesday, boosted by a downgrading in the condition of US crops and forecasts of renewed heat in the key growing region. Dealers said the weakness of the dollar also provided support with the US currency sinking to a recor
Published 27 Jul, 2011 12:00am
SRW wheat export premiums steady at US Gulf Coast

SRW wheat export premiums steady at US Gulf Coast

US soft red winter wheat export premiums at the US Gulf Coast held steady on Monday as Egypt issued a fresh tender to buy wheat on the world market, traders said. Hard red winter wheat export premiums were steady amid solid demand for higher protein wheat
Published 27 Jul, 2011 12:00am
Vietnamese coffee prices rise amid thin stocks

Vietnamese coffee prices rise amid thin stocks

Domestic coffee price rose in Vietnam on Tuesday, tracking London futures market gains, but trading remained slow due to thin stocks, traders said on Tuesday. Vietnam is in the period between crops and the next harvest of the world's top robusta producer
Published 27 Jul, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 143,228 tonnes of cargo including 90,562 tonnes of import cargo, 52,666 tonnes of export cargo and 5,410 loaded & empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 90,562 tonnes compri
Published 27 Jul, 2011 12:00am
Oil cake market rates

Oil cake market rates

Downward trend was seen on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The December contract that had ended at Rs 1316.20 commenced with a fall of 20 paisa at Rs 1316.00. January vaida which started at Rs 1200.00.
Published 27 Jul, 2011 12:00am
HRW wheat bids steady

HRW wheat bids steady

Hard red winter wheat basis bids were mostly steady on Tuesday, supported by the near-completion of the harvest, grain merchants said. Farmer selling remained slow amid expectations for higher prices as high heat in the Midwest damaged the corn crop. USDA
Published 27 Jul, 2011 12:00am
Guwar prices soar due to slow demand on grain market

Guwar prices soar due to slow demand on grain market

Prices moved both ways on the wholesale grain market on Tuesday as guwar went up sharply and rice fell on slow demand, dealers said. On the cereal side, guwar from Sindh was higher by Rs 500 to Rs 6700-6800 and Guwar Punjab followed the same track at the
Published 27 Jul, 2011 12:00am
JetBlue profit falls as fuel costs rise

JetBlue profit falls as fuel costs rise

JetBlue Airways reported a 19 percent drop in second-quarter profit despite rising revenue as fuel prices battered the low-cost carrier and its rivals in the United States. The airline said on Tuesday its fuel costs jumped 57.6 percent from a year ago. Th
Published 27 Jul, 2011 12:00am
JetBlue profit falls as fuel costs rise

JetBlue profit falls as fuel costs rise

JetBlue Airways reported a 19 percent drop in second-quarter profit despite rising revenue as fuel prices battered the low-cost carrier and its rivals in the United States. The airline said on Tuesday its fuel costs jumped 57.6 percent from a year ago. Th
Published 27 Jul, 2011 12:00am
Japan alarmed by yen rise, intervention becoming an option

Japan alarmed by yen rise, intervention becoming an option

Japan's policymakers, alarmed that the yen's persistent climb could derail the nation's economic recovery, see solo market intervention as an increasingly viable option, sources familiar with the matter said. The yen scaled four-month highs against the do
Published 27 Jul, 2011 12:00am
South East Asian markets: Indonesia hits another record high

South East Asian markets: Indonesia hits another record high

Major Southeast Asian stock markets were mostly higher on Tuesday as investors bought financial stocks and big caps at the start of the reporting season but caution prevailed, with the US debt ceiling negotiations still in deadlock. The positive outlook f
Published 27 Jul, 2011 12:00am
Seoul shares rebound

Seoul shares rebound

Seoul shares rebounded on Tuesday, led by large caps and brokerages, but the ongoing US stand-off over raising the debt ceiling pushed foreign investors to continue selling. The Korea Composite Stock Price Index finished up 0.85 percent at 2,168.70 points
Published 27 Jul, 2011 12:00am
Nikkei average rises

Nikkei average rises

The Nikkei stock average rose on Tuesday as robust quarterly earnings and higher profit forecasts from the likes of digital camera and copier maker Canon Inc helped offset a yen that has strengthened on US debt woes. Japanese corporate results and smaller
Published 27 Jul, 2011 12:00am
Tuesday's midday trade: wariness on debt issue keeps volume thin

Tuesday's midday trade: wariness on debt issue keeps volume thin

US stocks continued to face headwinds on Tuesday from the ongoing stalemate in Washington over raising the debt ceiling, with light volume showing the gridlock in Washington has made investors nervous. Major averages were mixed. The Nasdaq rose slightly a
Published 27 Jul, 2011 12:00am
US stocks dip

US stocks dip

US stocks dipped on Monday as lawmakers remained in a stand-off over raising the debt ceiling to avoid default, but investors were convinced a compromise will be reached before next week's critical deadline. Trading volume, however, was light even for a s
Published 27 Jul, 2011 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks rose 0.23 percent on Tuesday as Catcher Technology's better-than-expected results sparked optimism of a promising outlook for other Apple Inc suppliers. Catcher, which makes casings for Apple, soared by the 7-percent limit and lifted electro
Published 27 Jul, 2011 12:00am
Treasuries fall on divided Congress

Treasuries fall on divided Congress

Investors sold US Treasuries on Monday after talks in Washington to cut the US deficit and raise the legal borrowing limit fell apart and Democrats and Republicans set to work on separate plans. The impasse boosted fear no legislation would be passed in t
Published 27 Jul, 2011 12:00am
Treasuries fall on divided Congress

Treasuries fall on divided Congress

Investors sold US Treasuries on Monday after talks in Washington to cut the US deficit and raise the legal borrowing limit fell apart and Democrats and Republicans set to work on separate plans. The impasse boosted fear no legislation would be passed in t
Published 27 Jul, 2011 12:00am
Middle East markets: Ezz, Mobinil drag on Egypt's bourse

Middle East markets: Ezz, Mobinil drag on Egypt's bourse

Investor pessimism over earnings of Ezz Steel and Mobinil weighed on Egypt's bourse on Tuesday, while Abu Dhabi banks helped the emirate's market lead a small regional rebound from the previous day's declines. Selling pressure on Ezz Steel dragged Egypt's
Published 27 Jul, 2011 12:00am
Indian shares plunge

Indian shares plunge

Indian shares fell the most in more than a month on Tuesday after a higher-than-expected rate increase by the central bank stunned investors and its comments indicated the tightening cycle may not be over as yet. Investors were worried that rising borrowi
Published 27 Jul, 2011 12:00am
Hong Kong, China shares gain

Hong Kong, China shares gain

Hong Kong and China shares gained on Tuesday, as investors bought into blue chip stocks ahead of earnings but low turnover suggests they remained reluctant to buy in a big way. Any signs of resolution of the US debt ceiling impasse could combine with the
Published 27 Jul, 2011 12:00am
Australian shares up

Australian shares up

Australian stocks closed up 1 percent on Tuesday as banks and miners clawed back losses from Monday, driven by investors betting US lawmakers would reach a compromise on the budget and debt ceiling to avert a national default. Even if the United States ra
Published 27 Jul, 2011 12:00am
European shares lower

European shares lower

European shares fell on Tuesday, dented by a slew of poor earnings news, contagion fears in the eurozone debt crisis after Spanish and Italian yields rose and worries about the debt stalemate in the United States. Disappointing earnings news dominated the
Published 27 Jul, 2011 12:00am
UK's top share index soars

UK's top share index soars

Britain's top shares managed modest gains on Tuesday as solid results from blue chips including drugmaker GlaxoSmithKline and energy firm BG Group more than offset an earnings miss from heavyweight BP. Volume on the FTSE 100 was thin, however, as investor
Published 27 Jul, 2011 12:00am
Counterparty risks climb on US, eurozone worries

Counterparty risks climb on US, eurozone worries

A key gauge of counterparty risks rose to its highest since the beginning of this year on Tuesday as a potential default in the United States and obstacles to the implementation of a Greek debt deal kept money markets on edge. The United States is edging
Published 27 Jul, 2011 12:00am
Sterling rallies

Sterling rallies

Sterling jumped to a six-week high against a broadly weaker dollar on Tuesday after data showed the UK economy grew by 0.2 percent in the second quarter, confounding some speculators who had positioned for a weaker number. Sterling's gains were aided by a
Published 27 Jul, 2011 12:00am
Dollar declines in Asia

Dollar declines in Asia

The dollar hit a record low against the Swiss franc and a four-month trough versus the yen on Tuesday, as investors were sceptical that US President Barack Obama's call for compromise would lead to a swift breakthrough in deadlocked debt talks. There was
Published 27 Jul, 2011 12:00am
Dollar falls broadly in London

Dollar falls broadly in London

The dollar fell broadly on Tuesday, hitting a record low against the Swiss franc as investors fretted politicians would fail to strike a deal to raise the US debt ceiling and risk triggering a default that could lead to further dollar losses. The greenbac
Published 27 Jul, 2011 12:00am
Early trade in New York: dollar skids

Early trade in New York: dollar skids

The US dollar slumped across the board on Tuesday as the stand-off in negotiations to raise the US debt ceiling dragged on, fanning default fears and dimming the greenback's prospects. The US currency hit a record low against the Swiss franc, a traditiona
Published 27 Jul, 2011 12:00am
Dollar slumps in New York

Dollar slumps in New York

The dollar slumped to a record low against the Swiss franc and a four-month trough versus the yen on Monday, with more losses seen if US lawmakers fail to compromise on a deficit reduction plan. With a little more than a week before the August 2 deadline
Published 27 Jul, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 74.62/74.69 (previous 74.65/74.70). Call Money Rates: 8.00-12.00 percent (previous 6.00-12.00 percent).
Published 27 Jul, 2011 12:00am
New Zealand and Australian dollars surge

New Zealand and Australian dollars surge

The New Zealand and Australian dollars surged on Tuesday as a dearth of progress in US debt talks led investors to dump the greenback across the board and flock to currencies backed by stronger economies. The mighty kiwi scaled a fresh 30-year summit of $
Published 27 Jul, 2011 12:00am
Yuan hits fresh record high

Yuan hits fresh record high

The yuan closed up against the dollar after hitting a record trading high on Tuesday as the People's Bank of China set its mid-point at an all-time high after the dollar index sank to a seven-week low. Spot yuan closed at 6.4414 versus the dollar, stronge
Published 27 Jul, 2011 12:00am
Singapore dollar, ringgit climb

Singapore dollar, ringgit climb

The Singapore dollar hit a record high and the Malaysian ringgit broke through a key resistance level on Tuesday, leading Asian currencies higher, as investors feared that squabbling US politicians will not be able to agree on a debt ceiling deal in time
Published 27 Jul, 2011 12:00am
Indian rupee rises

Indian rupee rises

The Indian rupee raced to a near three-and-half month high on Monday propelled by the central bank's higher-than-expected interest rate increase that boosted outlook on portfolio inflows. The partially convertible rupee ended at 44.1750/1850 per dollar, a
Published 27 Jul, 2011 12:00am
Swiss franc at fresh peak versus dollar

Swiss franc at fresh peak versus dollar

The Swiss franc soared to another record peak against the dollar on Tuesday as investors became increasingly doubtful about a breakthrough in US debt talks. Fiscal uncertainty in both the eurozone and the United States has fuelled demand for safe-haven as
Published 27 Jul, 2011 12:00am
Trott and Anderson rise to second place in ICC rankings

Trott and Anderson rise to second place in ICC rankings

England's Jonathan Trott and James Anderson have risen to second place in the International Cricket Council (ICC) Test rankings respectively after their side's 196-run win over India at Lord's. Trott has climbed two places, above India's Sachin Tendulkar
Published 27 Jul, 2011 12:00am
FIFA to open new probe into Caribbean meeting

FIFA to open new probe into Caribbean meeting

FIFA are set to open a further investigation into the meeting of Caribbean football officials which resulted in former presidential candidate Mohamed Bin Hammam being banned for life.
Published 27 Jul, 2011 12:00am
Phelps suffers shock defeat in Shanghai

Phelps suffers shock defeat in Shanghai

Michael Phelps' rocky season took another turn for the worse Tuesday when the 14-time Olympic gold medallist was stunned in the world championships 200m freestyle by US team-mate Ryan Lochte. Phelps led over the first 100m until Lochte surged from third p
Published 27 Jul, 2011 12:00am
PCB lawyer expresses doubts over Kaneria integrity

PCB lawyer expresses doubts over Kaneria integrity

Pakistan Test spinner Danish Kaneria will not be considered for national selection until the Pakistan Cricket Board have no remaining doubts about his integrity, the PCB told a High Court hearing on Tuesday. The board's legal counsel, Tafazzul Rizvi, made
Published 27 Jul, 2011 12:00am
UEFA to help clean up Greek football: Platini

UEFA to help clean up Greek football: Platini

European football chief Michel Platini said Tuesday that UEFA was ready to lend a helping hand to find ways to stop violence and corruption in Greek football. "Our goal is to help the Greek football federation so that Greek football returns in the right d
Published 27 Jul, 2011 12:00am
Copa America failure costs Batista job

Copa America failure costs Batista job

Argentina's failure to win the Copa America as hosts and end an 18-year wait for a major title cost coach Sergio Batista his job on Monday. The Argentine Football Association (AFA), facing an identity crisis in the national game, announced Batista had ste
Published 27 Jul, 2011 12:00am