The Engineering Development Board (EDB) has accused local car assemblers of raking in unreasonable profits from advance full payments typically deposited three to six months before delivery of a car. In a press release issued here on Monday by EDB, local
The Engineering Development Board (EDB) has accused local car assemblers of raking in unreasonable profits from advance full payments typically deposited three to six months before delivery of a car. In a press release issued here on Monday by EDB, local
There will be no binding on banks to provide accountholders information to the Federal Board of Revenue in cases where notice to seek data under section 176 of the Income Tax Ordinance 2001 is without the name/nomenclature, or Computerised National Identi
There will be no binding on banks to provide accountholders information to the Federal Board of Revenue in cases where notice to seek data under section 176 of the Income Tax Ordinance 2001 is without the name/nomenclature, or Computerised National Identi
There will be no binding on banks to provide accountholders information to the Federal Board of Revenue in cases where notice to seek data under section 176 of the Income Tax Ordinance 2001 is without the name/nomenclature, or Computerised National Identi
Steady trend was again witnessed on the currency market on Monday as the rupee maintained its week-end level against the greenback, dealers said. The rupee gained seven paisa against dollar for buying at 89.93 and rose by six paisa for selling at 89.96, t
Steady trend was again witnessed on the currency market on Monday as the rupee maintained its week-end level against the greenback, dealers said. The rupee gained seven paisa against dollar for buying at 89.93 and rose by six paisa for selling at 89.96, t
Cocoa bean exports from Indonesia's Lampung province on Sumatra island rose 25 percent in December from a year ago, government trade office data showed on Monday. Lampung's exports have been volatile in recent months, although mostly falling throughout th
Both the contracts continued falling on the forward cottonseed oilcake market on Monday in process of trading, dealers said. The January contract that had ended at Rs 1164.10 commenced with 30 paisa loss at Rs 1163.80. The new March vaida which closed at
Rates firm on the cotton market on Monday ahead of Economic Co-ordination Committee (ECC) meeting and Pakistan Cotton Ginners Association (PCGA) fortnightly report this week, dealers said. The official spot rate was unchanged at Rs 5,400, they said.
Prices moved both ways on the wholesale grain market on Monday in process of slow trading, dealers said. On the cereal side wheat old and new both types lost Rs 20 to Rs 2650 and 2665 due to balanced demand and supply factor, other items retained the week
Hyundai Motor and affiliate Kia Motors aim to boost global vehicle sales by 6 percent this year to a combined 7 million vehicles, which would mark a slowdown for a duo that has enjoyed double-digit sales rises in recent years. The South Korean automakers,
India raised iron ore export duties to 30 percent from 20 as it seeks to conserve supplies for its own steel industry, sending down shares of iron ore producers and boosting those of steelmakers. The government issued a formal order removing the previous
European milling wheat futures firmed for a 12th straight session on Monday, with benchmark prices again hitting a highest level in more than three months, as a weak euro and weather worries in South America maintained buying momentum.
Oil output in Russia edged up 1.2 percent to reach a new post-Soviet high of 10.27 million barrels per day (bpd) last year, as the world's top crude producer eased tax burden and launched pipeline flows to China, the Energy Ministry said on Monday.
Dry and windy weather in most of Ivory Coast's main cocoa growing regions last week has deepened fears about the development of the crop after January, farmers said on Monday. The world's top grower is entering the last stage of the October-to-March main
Sugar output from India's Maharashtra state, top producer of the sweetener in the country, was 18.8 percent higher on year in the first three months of 2011/12 crushing season that started on October 1, an industry official said. The increase in productio
The Karachi Port handled 222,306 tonnes of cargo comprising 140,220 tonnes of import cargo and 82,086 tonnes of export cargo including 2,767 loaded & empty containers during last 48 hours ended at 0700 hours on Monday. The total import cargo of 140,220 to
Indonesia's unmilled rice output is expected to rise 10 percent to 72.02 million tonnes this year as it expands plantation areas in line with its 2014 self-sufficiency target, a government minister said on Monday. Southeast Asia's biggest economy has fore
Indonesia's robusta coffee bean exports from the main growing area in southern Sumatra slumped 68 percent in December from a year ago, government trade data showed on Monday, as adverse weather conditions hit output. Indonesia shipped 8,415.400 tonnes of
Coal India, the world's largest coal miner, hopes a revision in its pricing method will boost revenue and help offset the impact of a likely wage increase in the near term, its chairman said on Monday. The state-run company last week decided to benchmark
French car sales deepened their monthly decline to 18 percent in December, with Renault and Peugeot losing ground as an end-of-year subsidy hangover blighted demand for their smaller vehicles. Europe's second-biggest auto market logged 187,653 car registr
Telecom equipment maker Alcatel-Lucent does not expect deep job cuts like those announced by rival Nokia Siemens Networks, Chief Executive Ben Verwaayen said in an interview published on Monday in French daily Les Echos. "There's no way we are cutting our
The sultanate of Oman announced Monday a $26-billion budget for 2012 with a deficit expected to reach $3.12 billion, or five percent of its gross domestic product. Expenditure was projected to hit 10 billion rials ($26 billion), up 9.0 percent from 2011,
Thousands of protesters converged on a train station in central China, angered over collapsing illegal investment schemes that residents said the government had failed to staunch, according to news reports and a government notice on Monday. On Sunday, the
Consumption in Germany, Europe's top economy, was at its strongest level for more than a decade in 2011 despite the ongoing euro crisis, the German Chamber of Commerce and Industry (DIHK) said Monday. "Overall, robust domestic demand helped to prevent a d
The number of employed people in Germany hit a new record in 2011, said official statistics published on Monday, with more than half a million jobs created last year in Europe's top economy. There were an average of 41.04 million people working in Germany
Borrowing by small US businesses hit its highest level in nearly four years in November, pointing to underlying strength in the economy. The Thomson Reuters/PayNet Small Business Lending Index, which measures the overall volume of financing to small busin
The Turkish Central Bank intervened directly in the foreign exchange market on Monday, traders said, selling dollars and prompting a further strengthening of the lira since it began intervention on Friday. Monday's intervention amounted to around $300 mil
Kuwait's annual inflation slowed to a 16-month low of 4.2 percent in November with prices unchanged from the previous month, data showed on Monday, and analysts expect price growth to remain at around current levels in the coming months. Inflation in the
American shareholders are suing Britain's Lloyds Banking Group and the bank's former executives, saying they were misled over its rescue of fellow lender HBOS in the depths of the financial crisis in 2008. Victor Blank, who stepped down as chairman the fo
Greek pharmacists and doctors on Monday kicked off a week of labour action against cost-cutting measures and liberalisation reforms pursued by the country's debt-struck government. Most pharmacies were to shut until Tuesday in opposition to a state attemp
The United Arab Emirates is raising the minimum pensions of former military and federal government employees to $2,700 per month, effective this month, state news agency WAM reported on Monday. President Sheikh Khalifa bin Zayed al-Nahayan issued an order
Global manufacturing activity was subdued going into 2012, with the eurozone's industrial sector suffering its fifth straight month of declines in December and Asian factories mostly stuck in a rut. Monday's purchasing managers indexes (PMIs) provided fur
Poland's central bank may buy the state's bonds in the secondary market if yields rise sharply on the back of a panic or a crisis, Finance Minister Jacek Rostowski said on Monday. "If (bonds) yields rise because of panic or on the back of a (crisis) conta
Daily trading hours at the Philippine Stock Exchange will be extended for the second time in three months from Monday as the bourse prepares for a planned link-up with other Southeast Asian markets later this year. The market will now be open until 3:30 p
Optimism for the year ahead lifted Egypt's stock market on Monday, while Gulf bourses were mixed in muted trade as many investors were still away on holidays. Egypt's benchmark index rose 1.6 percent as some investors took new positions in the tentative h
Taiwan stocks ended down 1.69 percent on the first trading day of the new year on Monday, weighed by heavyweights such as TSMC, with investors cautious ahead of the island's presidential election and with little guidance as most regional markets are close
European stock markets close higher on Monday, given a boost by strong German economic data in thin holiday trade. With London and Wall Street shut for public holidays, investors had little to go on but welcomed positive employment, consumer spending and
Allowing foreign nationals direct access to India's stock market will reduce volatility, a finance ministry official said on Monday, a day after the government announced plans to open equity markets to individual foreign investors. Thomas Mathew, joint se
Indian shares rose 0.4 percent in choppy new year trading on Monday as investors cheered a government decision to allow foreigners to directly buy stocks, but the market remained unconvinced about risk appetite amid worries about the global economy. Coal
Stocks, financial and commodity markets in US, UK, Japan, China, Hong Kong, Australia, Malaysia, Singapore, New Zealand and Thailand were closed on Monday for the New Year's Day holidays. Markets will reopen on January 3 and some markets resume trading on
Sri Lanka's main share index closed steady on Monday, with trading volume hitting a 21-month low as investors waited on the sidelines for an expected easing of credit limits from the island nation's Securities and Exchange Commission. The main share index
Latin American stocks seesawed in the year's first trading session on Monday as local investors sought to add cheap blue chip stocks and thin volume kept volatility high. The MSCI Latin American stock index erased early losses to gain for a third day, add
Seoul shares ended on an even keel Monday as hope for signs of economic recovery ahead of a set of key US data releases to start the new year were tempered by persistent eurozone worries and sluggish domestic manufacturing activity.
An advisor to Goldman Sachs has defended the US bank's $2 billion Islamic bond programme against criticism it may contravene religious principles, in a controversy that could affect Western banks' ability to enter the Islamic debt market. In October, Gold
An advisor to Goldman Sachs has defended the US bank's $2 billion Islamic bond programme against criticism it may contravene religious principles, in a controversy that could affect Western banks' ability to enter the Islamic debt market. In October, Gold
Sumitomo Mitsui Financial Group's investment into US Treasuries is likely to boost the bank's profits again next year as yields on the paper have further to fall, the president of Japan's third-largest lender by assets said on Thursday. "Yields on Japanes
Lithuania will not be able to adopt euro in 2014 as the government had hoped, the country's president told news magazine Veidas on Monday. The center-right government of the Prime Minister Andrius Kubilius eyed 2014 as the earliest possible date for euro
European money markets will likely still be under stress six months from now with the eurozone sovereign debt crisis showing no signs of easing, according to a majority of money market traders polled by Reuters. Twelve of 18 traders who gave an answer in
The Indian rupee fell in its first session of 2012 on demand from oil importers, though losses were limited by a turnaround in domestic stocks and dollar-selling by foreign banks. Volumes were light in the dollar-rupee market as many investors chose to st
Interbank buy/sell rates for the taka against the dollar on Monday. 81.99-82.00 (previous 81.99-82.00). Call Money Rates: 12.00-20.00 percent (previous 12.50-20.00 percent).
Iran's currency, the rial, slumped 12 percent in street trading Monday, accelerating a slide triggered on the weekend when the United States activated new sanctions over Tehran's nuclear drive. The rial was being exchanged for 17,800 to the dollar late Mo
Emerging Europe's currencies were mixed on Monday in trade cut to a minimum by the closure of key global markets, treading water ahead of major data later in the week after sentiment indexes that were broadly in line with expectations. Monday's PMI releas
Key eurozone bank-to-bank lending rates fell sharply as the new year got underway in European markets on Monday, pushed down by the glut of excess cash created by the ECB's recent bumper injection of ultra-long and ultra-cheap three-year liquidity. Euro z
Sri Lanka's central bank is not contemplating a fresh move to devalue its rupee currency this year, its Governor Ajith Nivard Cabraal said on Monday, contrary to market speculation due to a looming balance of payment crisis. The governor's assurance comes
The South Korean won ended the first trading day of 2012 slightly lower as risk appetite weakened on disappointing economic data and a warning from the country's president that the global economy had entered a period of prolonged low growth. The local cur
The euro fell to a decade low versus the Japanese yen on Monday with more falls expected as concerns about the financing needs of highly indebted eurozone countries plagued the shared currency into the new calendar year. The euro fell as low as 98.71 yen
Stung by a shock defeat in the second Test in Durban, South Africa will have to overcome a confident Sri Lankan team to gain an elusive series win in the third and final Test starting at Newlands Tuesday. Unlike the case with Durban, where South Africa ha
Spinner Nathan Lyon has received the backing of the Australian team ahead of his showdown with India's big-name batsmen in the second Test at the Sydney Cricket Ground starting Tuesday.
Gary Ablett, who made history by becoming the only player to win the FA Cup with both Liverpool and Everton, has died at the age of 46 after a long battle against cancer. Ablett, who had a season as Stockport manager in 2009-10, lost his 16-month fight ag
Manc-hester United striker Wayne Rooney has been fined a week's wages by the Premier League club for a night out over the Christmas weekend, according to press reports here on Monday. Rooney was dropped by United ahead of their shock 3-2 home loss to Blac
ZONG cricket team has won the '1st Bankers T20 Tournament' by beating Liberty Power by 5 wickets. Bating first Liberty Power set a mammoth target of 197 runs in 20 overs. ZONG Gladiatorz in reply achieved the target in 20th over with the loss of 5 wickets
England Test captain Andrew Strauss has insisted his side are prepared to play against Pakistan players named in the spot-fixing trial that led to three cricketers being jailed. But the opening batsman warned that, despite the impact of the case, it was t
Punjab Bar Council Executive Committee has set aside a decision of Lahore Bar Association (LBA) election board chairman wherein Advocate Nasreen Ijaz was barred from participating in the association's election. The LBA election board had rejected nominati
Vice Chairman Pakistan Tehrik-i-Insaf (PTI) Makhdoom Shah Mehmood Qureshi on Monday said people were forced to commit suicide and rulers were busy in looting public funds but Tehrik-i-insaf would bring a good change to redress the grievances of the masses
Violent protests against the shutdown of CNG stations and massive hike in natural gas tariffs broke out across the twin cities of Rawalpindi/Islamabad on Monday. People turned violent and blocked the Islamabad Expressway, Grand Trunk (GT) Road, Murree Roa