The Australian and the New Zealand dollars rallied sharply on Tuesday as the mood over Europe lightened just a little, though sentiment remains subject to wild swings as officials battle the region's debt problems. The Aussie rose to $0.9864, from $0.9716
Emerging Asian currencies bounced on Tuesday, led by the South Korean won and Indonesian rupiah on buying by US investment banks and offshore funds, though the rebound was fragile, with the rising trend in the US dollar still evident. On Tuesday, the sing
The Indian rupee rose on Tuesday aided by a rebound in domestic equities, but lack of clarity on how European policymakers intend to resolve the region's debt crisis kept the euro choppy, limiting the gains. The partially convertible rupee ended at 49.065
Interbank buy/sell rates for the taka against the dollar on Tuesday. 75.18-75.20 (previous 75.14-75.17). Call Money Rates: 6.00-8.00 percent (previous 6.00-8.00 percent).
The euro recovered most of its losses late in the New York session on Monday after a media report saying European officials are working on a detailed plan aimed at shoring up European bank stability. CNBC said the plan involves issuing bonds and using the
The euro rose against the dollar for a third straight day on Tuesday, buoyed by hopes European policymakers are planning to boost a bailout fund, but gains could be fleeting given investors remain cautious. Talk of co-ordinated action to contain the euroz
The euro steadied against the dollar on Tuesday, but sentiment was fragile after comments by Spain's economy minister who tempered expectations of a radical and swift action by European policymakers to contain the worsening debt crisis. The single currenc
The euro crawled up from eight-month lows on Tuesday as a report that Europe is considering beefing up its bailout fund prompted short-covering, and it could extend its rebound in the very near term given traders' overwhelmingly short positions in the cur
Sterling rallied versus the dollar on Tuesday, tracking gains in the euro, as a rise in global stocks boosted risk sentiment and prompted investors to cut bets the pound would fall. Cautious optimism that policymakers were putting together measures to eas
Eurozone bank demand for European Central Bank loans remained high on Tuesday and was expected to stay strong at upcoming emergency tenders as banks build up cash buffers, fearing there will be no quick solution to the debt crisis. While risk assets ralli
Britain's top share index gained strongly on Tuesday, posting its biggest one-day percentage gain for 16 months, boosted by a rally from commodity stocks and advances by banks on increased hopes that European leaders will take decisive action to alleviate
European shares jumped on Tuesday to make their largest percentage gain since May 2010 and on track to make their biggest weekly gain since July 2010 on hopes policymakers were putting together measures to help ease the region's debt crisis. The plan lack
South Korean stocks made strong gains on Tuesday, rebounding from a selloff in the previous three sessions that dragged the market to its lowest level in more than 15 months. The Korea Composite Stock Price Index ended 5.02 percent higher at 1,735.71 poin
The Nikkei average climbed almost 3 percent on Tuesday, bouncing off a 2-1/2 year closing low marked the previous day on a rush of dividend-related buying and in tandem with rises for other risk assets on hopes that a European debt plan is in the works.
Hong Kong shares snapped a four-day losing streak on Tuesday as the best single-day gains since May 2009 pulled the Hang Seng Index out of technically oversold territory, but turnover declined for a second straight session. Gains were supported by a short
Indian shares rose on Tuesday for the first time in five sessions, rebounding 2.95 percent as global risk appetite was bolstered by optimism European leaders will pull together a rescue plan for the debt-ridden eurozone. Much of the rise was helped by sho
US Treasury prices fell on Monday as hopes that European leaders will commit more cash to bail out debt-laden nations revived some appetite for stocks and reduced demand for safe-haven US government debt. Benchmark 10-year yields rose to 1.90 percent, the
US Treasury prices fell on Monday as hopes that European leaders will commit more cash to bail out debt-laden nations revived some appetite for stocks and reduced demand for safe-haven US government debt. Benchmark 10-year yields rose to 1.90 percent, the
London Stock Exchange head Xavier Rolet has won the backing of LCH.Clearnet's board for his planned 1 billion euro ($1.3 billion) take-over of Europe's largest independent clearing house, a source familiar with the situation said. The board, which is made
US stocks rose on Monday as sentiment swung toward hope European officials would find a way to cut Greece's debt and shore up European banks. Shares rallied to session highs in the afternoon after a report said a plan to leverage money from the European F
US stocks extended their rally on Tuesday, sparked by eurozone officials' efforts to solidify the region's rescue fund in an attempt to alleviate the debt crisis. Major indexes rose for a third straight session, with the S&P 500 up more than 5 percent ove
Southeast Asian stock markets pushed higher on Tuesday, with Indonesia and Thailand surging nearly 5 percent because of hopes that European policymakers will act to contain Greece's debt problems and resolve the eurozone debt crisis. Buying gained steam d
Taiwan stocks ended up 3.09 percent on Tuesday, with Apple Inc suppliers mixed as investors were divided by stronger demand for the hot-selling devices of the California-based company and rumours of orders cut. Compal, the world's No 2 contract PC maker,
Egypt's bourse fell on Tuesday, nearing Sunday's 30-month low, as the country's uncertain political outlook weighed on sentiment, while most Gulf markets rose, taking cues from upbeat world stocks. Cairo's main index fell 1.3 percent, weighed by Orascom C
A $2.6 billion financial fraud that has shaken the government of Iranian President Mahmoud Ahmadinejad saw the heads of three of the country's banks ousted on Tuesday as lawmakers threaten to impeach the economy minister. The biggest fraud in the 32-year
The first Boeing 787 Dreamliner took off Tuesday for its new home in Japan, an all-new composite passenger plane the US aerospace giant touts as a game changer in the aviation industry. All Nippon Airways, the launch customer for the 787 program, took del
Iraq's cabinet has approved a contract with South Korea's KOGAS to develop the Akkas gas field in western Anbar province, an oil ministry source said on Tuesday. The cabinet approved the deal on September 13, and the source said it will be signed on Octob
Turkey is using its navy and air force to escort a ship conducting oil and gas exploration off Cyprus, an official said Tuesday, in the latest development in a disagreement over the ownership of the disputed island nation's natural resources. Cyprus is di
European governments are threatening to break off negotiations with India on a free-trade deal the EU had hoped would be worth 175 billion euros a year, an EU report revealed on Tuesday. Four years after talks began with New Delhi, frustrated European Uni
The "Big Four" global auditors could be broken up, leaving them susceptible to take-overs if radical European Union plans to boost competition go ahead, a UK auditing official said on Tuesday. EU Internal Market Commissioner Michel Barnier is due to publi
British arms manufacturer BAE Systems axed 3,000 jobs on Tuesday, mainly at its military aircraft division, as reduced spending by governments hits demand for Eurofighter Typhoon and F-35 fighter jets. "Our customers are facing huge pressures on their def
Brazil reduced a tax on gasoline in a government decree on Tuesday, a measure which is expected to lift profit margins at state-controlled oil company Petrobras without stoking inflation at consumer levels. The decree comes as Petrobras is importing at a
Americans worried about their incomes as they struggled to find work in September, holding consumer confidence at depressed levels and pointing to weak spending in the months ahead. The Conference Board said on Tuesday its index of consumer attitudes was
Hundreds of young activists protesting the Wall Street bailout and corporate influence in US politics defied police for a ninth day Monday and said arrests over the weekend strengthened their resolve. The rag-tag protest even got a boost late Monday with
Bangladesh has discovered a major natural gas reserve, an official said Tuesday, in a find that could help the fast-developing country tackle severe energy shortages. The state-run Bangladesh Petroleum Exploration and Production Company found one trillion
The UBS Swiss consumption indicator posted its biggest monthly decrease in nine years in August, touching a level only slightly higher than during the last two recessions, meaning Switzerland could be headed for another downturn. The UBS consumption indic
Hundreds of Philippine Airlines (PAL) ground workers went on strike on Tuesday, causing the cancellation of 172 domestic and international flights and stranding some 14,000 passengers. Some 300 members of the Philippine Airlines Employees Association (PAL
Japan's ruling Democratic Party decided on Tuesday to raise taxes to fund reconstruction from the March earthquake and tsunami from next April as the country needs to secure funding without further straining its already weak public finances. The debt-ridd
South Korea's government Tuesday proposed a 2012 budget that would cut the fiscal deficit while boosting jobs and social welfare programmes to ease the impact of global economic uncertainty. The proposal, to be presented to parliament Friday, calls for to
Sluggish business was witnessed on the wholesale grain market on Tuesday due to low buying interest, dealers said. On the grams side guwar Sindh and Punjab rose by Rs 100 to Rs 6800-6900, other items retained the overnight levels in process of trading, th
Coffee prices in Vietnam edged up on Tuesday but were still lingering at seven-month lows and traders said prices may get a boost from a delay in harvesting due to the storms forecast to hit the country from October until the end of the year. Robusta bean
Buying interest by mills was seen on the cotton market on Tuesday as they preferred to make deals at present rates, dealers said. The Karachi Cotton Association (KCA) official spot rate was inert at Rs 6,300, they said. Prices of seedcotton in Sindh were
The December vaida was down and January contract was unchanged on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The December contract that had ended at Rs 1313.40 commenced with a fall of 40 paisa at Rs 1313.00. The
The Karachi Port handled 135,773 tonnes of cargo including 92,176 tonnes of import cargo, 43,597 tonnes of export cargo and 3,380 loaded & empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 92,176 tonnes compri
Rains forecast to sweep into much of Argentina's farming belt from Wednesday should bring relief to thirsty wheat crops and allow corn seeding to pick up its pace, a weather specialist said on Monday. Concern is growing over dryness in Argentina, which is
Ukraine, the world's biggest sunflower oil exporter, is likely to produce a record 3.55 million tonnes of sunoil in the 2011/12 season, agriculture Consultancy UkrAgroConsult said on Tuesday. It said a jump in production could allow Ukraine to boost sunoi
ICE Canadian canola futures gained on Monday in choppy, high-volume trading, snapping a three-day losing streak, traders said. Total volume of about 31,400 contracts was largest since February 23. Heavy volume a combination of some export business, due to
China will again sharply raise imports of soyaoil, palm oil and soyabeans in 2011/12 as insufficient domestic oilseed production continues to be outpaced by rapid demand growth. "China's import dependence in the oilseed sector is reaching alarming proport
Hard red winter wheat basis bids were steady on Tuesday with demand strong as millers and resellers sought supplies. Drought continued to keep a grip on the Plains but farmers pressed ahead with winter wheat seeding, having to "dust in" seed in some areas
Karachi Electric Supply Company Limited (the Company) was incorporated as a limited liability company in 1913 under the Indian Companies Act of 1882 (now Companies Ordinance, 1984). It was nationalised in 1952 and, after 53 years, was privatised in Novemb
Karachi Electric Supply Company Limited (the Company) was incorporated as a limited liability company in 1913 under the Indian Companies Act of 1882 (now Companies Ordinance, 1984). It was nationalised in 1952 and, after 53 years, was privatised in Novemb
Pakistan Muslim League-Nawaz (PML-N) Chief Mian Nawaz Sharif will attend All Parties Conference (APC) convened by Prime Minister Gilani on Thursday (tomorrow) to discuss national security situation in the wake of US accusations that Pakistan has links wit
Alternative Energy Development Board (AEDB) is preparing a new draft for 10-year investment plan for developing renewable energy in Balochistan and Sindh provinces with co-operation of Asian Development Bank. AEDB submitted a proposal for technical assist
Pakistan Tehrik-e-Insaf (PTI) on Tuesday decided to participate in the proposed All Parties Conference (APC) to be convened by Prime Minister Syed Yousuf Raza Gilnai on Thursday following the current stand-off between Pakistan and United States. "Pakistan
Prime Minister Syed Yousuf Raza Gilani discussed security issues in a meeting with the President held at Aiwan-e-Sadr on Tuesday. Federal Minister for Defence Chaudhry Ahmed Mukhtar, Secretary General to the President M. Salman Faruqui and Foreign Secreta
The government has formulated 'Liquefied Petroleum Gas (LPG) Policy 2011' without consultations with the real stakeholders, including producers, marketing companies, and distributors, Business Recorder has learnt. According to sources in the Minist
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
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
Interest rates on new foreign currency deposits issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (September 27, 2011).
A resolution to cut most of the United States' funding to Pakistan has been quietly tabled in the US House of Representatives, even as the two countries' relationship continued to totter dangerously in a furore over scathing and unprecedented allegations
A resolution to cut most of the United States' funding to Pakistan has been quietly tabled in the US House of Representatives, even as the two countries' relationship continued to totter dangerously in a furore over scathing and unprecedented allegations
A resolution to cut most of the United States'' funding to Pakistan has been quietly tabled in the US House of Representatives, even as the two countries'' relationship continued to totter dangerously in a furore over scathing and unprecedented allegation
Ministry of Defence categorically stated that the army leadership itself would decide whether or not it should carry out a military operation in North Waziristan, not under any dictate or influence.
Ministry of Defence categorically stated that the army leadership itself would decide whether or not it should carry out a military operation in North Waziristan, not under any dictate or influence.
Reaf-firming its commitment to eliminate terrorism, Pakistan told the UN General Assembly on Tuesday that militants and terrorists will not be allowed any space on the Pakistani territory. "Pakistan has the will. We do not fear adversity," Foreign Ministe
Reaf-firming its commitment to eliminate terrorism, Pakistan told the UN General Assembly on Tuesday that militants and terrorists will not be allowed any space on the Pakistani territory. "Pakistan has the will. We do not fear adversity," Foreign Ministe
Pakistani intelligence officials say an American missile strike has killed at least three people in a militant stronghold near the Afghan border. The two officials say a pair of missiles struck a house near the town of Wana in South Waziristan on Tuesday.
Pakistani intelligence officials say an American missile strike has killed at least three people in a militant stronghold near the Afghan border. The two officials say a pair of missiles struck a house near the town of Wana in South Waziristan on Tuesday.
The US remained the largest assistance provider to Pakistan during period from July 1 to September 26, 2011, by disbursing $15.3 million under Kerry Lugar Bill while $34.8 million has been released through USAID so far. Documents available with Busines
On Tuesday, the BRIndex30 opened at 8,324.56 points and remained in positive throughout the trading session. It touched the intra-day high of 8,575.71 points and low of 8,425.30 points and closed at 8,573.17 points with a net positive change of 248.61 poi