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Print - 2012-06-05
Monday's early afternoon trade: Wall Street set for fourth straight drop

Monday's early afternoon trade: Wall Street set for fourth straight drop

US stocks extended their most recent selloff on Monday as investors reacted to the latest indications of an economic slowdown and looked ahead to events this week that could help ease Europe's debt crisis. The decline extended Friday's steep drop that wip
Published 05 Jun, 2012 12:00am
Topix hits 28-year low, Nikkei falls two percent

Topix hits 28-year low, Nikkei falls two percent

Japan's shares fell sharply on Monday, with the broader Topix index hitting a 28-year low, as investors rushed to sell riskier assets on disappointing US jobs data, deepening debt woes for the eurozone and slowing Chinese growth. The more tech-heavy Nikke
Published 05 Jun, 2012 12:00am
Gulf markets downbeat on global woes

Gulf markets downbeat on global woes

Most Gulf markets retreated on Monday, trading on muted volumes, as sliding oil prices and further declines on overseas markets kept investors at bay. Global trends dominated moves in Gulf bourses due to a lack of regional catalyst in company news or econ
Published 05 Jun, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 74,896 tonnes of cargo comprising 55,043 tonnes of import cargo and 19,853 tonnes of export cargo including 6,246 loaded & empty containers during last 24 hours ended at 0700 hours on Monday. The total import cargo comprised of 55
Published 05 Jun, 2012 12:00am
Russian wheat export prices rise on weak rouble

Russian wheat export prices rise on weak rouble

Russian wheat export prices rose slightly last week supported by a weak rouble, but increases were limited by low market activity ahead of a new crop, analysts said on Monday. "Demand is low. Continued weakening of the rouble remains positive for exports,
Published 05 Jun, 2012 12:00am
US Midwest soyabeans bids mostly steady

US Midwest soyabeans bids mostly steady

Spot basis bids for soyabeans held mostly steady at elevators but firmed at processors and river terminals around the interior US Midwest on Monday, supported by slow farmer sales, dealers said. Soyabean bids increased by 2 cents to 5 cents at processors
Published 05 Jun, 2012 12:00am
European wheat futures fall to new two-week lows

European wheat futures fall to new two-week lows

European wheat futures fell again on Monday to hit a new two-week low, pressured by economic gloom and a pre-weekend slide in Chicago, but a bounce in US futures amid uncertainty about harvest prospects helped to limit losses in Paris. Benchmark November
Published 05 Jun, 2012 12:00am
Cautious trading seen amid first session on grain market after budget

Cautious trading seen amid first session on grain market after budget

Cautious trading was seen on the wholesale grain market on Monday amid first session after the budget 2012-13 announcement, dealers said. Commenting on the new budget, presently we are not discussing about tax relief or imposition of taxes on the commodit
Published 05 Jun, 2012 12:00am
Oil cake market rates

Oil cake market rates

Both futures were higher on the forward cottonseed oilcake market on Monday in process of trading, dealers said. The July vaida closed at Rs 850.60 and it commenced with a gain of 10 paisa at Rs 850.70, the December contract closed at Rs 850.00 and it ope
Published 05 Jun, 2012 12:00am
Message from Chairman, Karachi Port Trust

Message from Chairman, Karachi Port Trust

Today on occasion of the World Environment Day is a reminder to show our gratefulness to Mother Nature, which sustains all forms of life. This is the day to focus our thoughts and our energies to make collective efforts towards protecting the environment.
Published 05 Jun, 2012 12:00am
EBM - A company conscious of environment

EBM - A company conscious of environment

English Biscuit Manufacturers (Pvt) Ltd, or (EBM), is the country's leading manufacturer of biscuits and cookies since 1967, with an annual sales value and production capacity in excess of Rs 20 billion ($220 million approx.) and 100,000 tons respectively
Published 05 Jun, 2012 12:00am
TAX MEMORANDUM 2012

TAX MEMORANDUM 2012

BUDGET AT A GLANCE: BUDGET FINANCIALS: The following table sets out the Key Budget Financials:
Published 05 Jun, 2012 12:00am
TAX MEMORANDUM 2012

TAX MEMORANDUM 2012

BUDGET AT A GLANCE: BUDGET FINANCIALS: The following table sets out the Key Budget Financials:
Published 05 Jun, 2012 12:00am
New York cotton

New York cotton

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

Published 05 Jun, 2012 12:00am
New York cotton

New York cotton

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

Published 05 Jun, 2012 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

The Exchange Rates Committee of State Bank of Pakistan issued the following exchange rates bulletin here on Monday (June 04, 2012). Conversion rates for foreign currency deposits, DBC/FCBC, Special US$ Bonds and profits thereon and for forward cover for d
Published 05 Jun, 2012 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 05 Jun, 2012 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 04, 2012).

Published 05 Jun, 2012 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 04, 2012).

Published 05 Jun, 2012 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 04, 2012).

Published 05 Jun, 2012 12:00am
Input tax adjustment: Controversial SRO to be retained

Input tax adjustment: Controversial SRO to be retained

The Federal Board of Revenue has decided to retain the SRO 191(I)/2012 and amend the notification during current month to limit disallowance of input tax adjustment under the revised scheme of documentation of unregistered buyers. Sources told Business
Published 05 Jun, 2012 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 04, 2012).

Published 05 Jun, 2012 12:00am
Input tax adjustment: Controversial SRO to be retained

Input tax adjustment: Controversial SRO to be retained

The Federal Board of Revenue has decided to retain the SRO 191(I)/2012 and amend the notification during current month to limit disallowance of input tax adjustment under the revised scheme of documentation of unregistered buyers. Sources told Business
Published 05 Jun, 2012 12:00am
Input tax adjustment: Controversial SRO to be retained

Input tax adjustment: Controversial SRO to be retained

The Federal Board of Revenue has decided to retain the SRO 191(I)/2012 and amend the notification during current month to limit disallowance of input tax adjustment under the revised scheme of documentation of unregistered buyers. Sources told Business
Published 05 Jun, 2012 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (June 04, 2012).
Published 05 Jun, 2012 12:00am
Input tax adjustment: Controversial SRO to be retained

Input tax adjustment: Controversial SRO to be retained

The Federal Board of Revenue has decided to retain the SRO 191(I)/2012 and amend the notification during current month to limit disallowance of input tax adjustment under the revised scheme of documentation of unregistered buyers. Sources told Business
Published 05 Jun, 2012 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (June 04, 2012).

Published 05 Jun, 2012 12:00am
Isaf container scam: FTO's recommendations made part of Finance Bill

Isaf container scam: FTO's recommendations made part of Finance Bill

A number of recommendations of the Federal Tax Ombudsman (FTO) Report on the Isaf Container Scam have been made part of the Finance Bill (2012-13) including change in the definition of smuggling under Customs Act 1969 to punish those persons involved in p
Published 05 Jun, 2012 12:00am
Isaf container scam: FTO's recommendations made part of Finance Bill

Isaf container scam: FTO's recommendations made part of Finance Bill

A number of recommendations of the Federal Tax Ombudsman (FTO) Report on the Isaf Container Scam have been made part of the Finance Bill (2012-13) including change in the definition of smuggling under Customs Act 1969 to punish those persons involved in p
Published 05 Jun, 2012 12:00am
Isaf container scam: FTO''s recommendations made part of Finance Bill

Isaf container scam: FTO''s recommendations made part of Finance Bill

A number of recommendations of the Federal Tax Ombudsman (FTO) Report on the Isaf Container Scam have been made part of the Finance Bill (2012-13) including change in the definition of smuggling under Customs Act 1969 to punish those persons involved in p
Published 05 Jun, 2012 12:00am
Current expenditure overrun by Rs 317 billion

Current expenditure overrun by Rs 317 billion

The government has exceeded current expenditure by Rs 317 billion from budget estimates in the current fiscal year which may rise further in the remaining four weeks. Analysts say that massive increase in current expenditure of Rs 317.052 or 13.69 percent
Published 05 Jun, 2012 12:00am
Current expenditure overrun by Rs 317 billion

Current expenditure overrun by Rs 317 billion

The government has exceeded current expenditure by Rs 317 billion from budget estimates in the current fiscal year which may rise further in the remaining four weeks. Analysts say that massive increase in current expenditure of Rs 317.052 or 13.69 percent
Published 05 Jun, 2012 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (June 04, 2012).

Published 05 Jun, 2012 12:00am
Current expenditure overrun by Rs 317 billion

Current expenditure overrun by Rs 317 billion

The government has exceeded current expenditure by Rs 317 billion from budget estimates in the current fiscal year which may rise further in the remaining four weeks. Analysts say that massive increase in current expenditure of Rs 317.052 or 13.69 percent
Published 05 Jun, 2012 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 04, 2012).
Published 05 Jun, 2012 12:00am
Budget 2012-13: Rs 56 billion set aside for special grants to provinces

Budget 2012-13: Rs 56 billion set aside for special grants to provinces

The federal government has allocated some Rs 56 billion, slightly up by about 4 percent as compared to revised budget of 2011-12 (FY12), on account of special grants to provinces during the next fiscal year 2012-13 (FY13). Sources in Ministry of Finance t
Published 05 Jun, 2012 12:00am
Budget 2012-13: Rs 56 billion set aside for special grants to provinces

Budget 2012-13: Rs 56 billion set aside for special grants to provinces

The federal government has allocated some Rs 56 billion, slightly up by about 4 percent as compared to revised budget of 2011-12 (FY12), on account of special grants to provinces during the next fiscal year 2012-13 (FY13). Sources in Ministry of Finance t
Published 05 Jun, 2012 12:00am
Budget 2012-13: Rs 56 billion set aside for special grants to provinces

Budget 2012-13: Rs 56 billion set aside for special grants to provinces

The federal government has allocated some Rs 56 billion, slightly up by about 4 percent as compared to revised budget of 2011-12 (FY12), on account of special grants to provinces during the next fiscal year 2012-13 (FY13). Sources in Ministry of Finance t
Published 05 Jun, 2012 12:00am
LPG prices up by Rs six per kg

LPG prices up by Rs six per kg

Local producers of liquefied petroleum gas (LPG) have increased prices by Rs 6,100 to 73,470 per ton despite a decline in its international prices by 130 dollars per ton. This was stated by Chairman of All Pakistan LPG Distributors Association and Chairma
Published 05 Jun, 2012 12:00am
LPG prices up by Rs six per kg

LPG prices up by Rs six per kg

Local producers of liquefied petroleum gas (LPG) have increased prices by Rs 6,100 to 73,470 per ton despite a decline in its international prices by 130 dollars per ton. This was stated by Chairman of All Pakistan LPG Distributors Association and Chairma
Published 05 Jun, 2012 12:00am
LPG prices up by Rs six per kg

LPG prices up by Rs six per kg

Local producers of liquefied petroleum gas (LPG) have increased prices by Rs 6,100 to 73,470 per ton despite a decline in its international prices by 130 dollars per ton. This was stated by Chairman of All Pakistan LPG Distributors Association and Chairma
Published 05 Jun, 2012 12:00am
Gilani sacks Pepco managing director

Gilani sacks Pepco managing director

Prime Minister Syed Yousuf Raza Gilani, on Monday sacked Managing Director, Pakistan Electric Power Company (Pepco) National Transmission and Dispatch Company (NTDC), Rasul Khan Mahsud for his sustained failure to deal with the power crisis which has fuel
Published 05 Jun, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

Jubilee Life Insurance Meeseq Fund Rates on Monday (June 04, 2012).

Published 05 Jun, 2012 12:00am
Gilani sacks Pepco managing director

Gilani sacks Pepco managing director

Prime Minister Syed Yousuf Raza Gilani, on Monday sacked Managing Director, Pakistan Electric Power Company (Pepco) National Transmission and Dispatch Company (NTDC), Rasul Khan Mahsud for his sustained failure to deal with the power crisis which has fuel
Published 05 Jun, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

Jubilee Life Insurance Meeseq Fund Rates on Monday (June 04, 2012).

Published 05 Jun, 2012 12:00am
Gilani sacks Pepco managing director

Gilani sacks Pepco managing director

Prime Minister Syed Yousuf Raza Gilani, on Monday sacked Managing Director, Pakistan Electric Power Company (Pepco) National Transmission and Dispatch Company (NTDC), Rasul Khan Mahsud for his sustained failure to deal with the power crisis which has fuel
Published 05 Jun, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

Jubilee Life Insurance Meeseq Fund Rates on Monday (June 04, 2012).

Published 05 Jun, 2012 12:00am
British Prime Minister orders probe into Warsi's Pakistan visit

British Prime Minister orders probe into Warsi's Pakistan visit

British Prime Minister David Cameron ordered an inquiry Monday into whether the head of his Conservative party broke rules by taking a business partner on an official visit to Pakistan. Sayeeda Warsi, the co-chair of the centre-right party and a cabinet m
Published 05 Jun, 2012 12:00am
British Prime Minister orders probe into Warsi's Pakistan visit

British Prime Minister orders probe into Warsi's Pakistan visit

British Prime Minister David Cameron ordered an inquiry Monday into whether the head of his Conservative party broke rules by taking a business partner on an official visit to Pakistan. Sayeeda Warsi, the co-chair of the centre-right party and a cabinet m
Published 05 Jun, 2012 12:00am
Former Lehman trader quits as Asia hedge funds falter

Former Lehman trader quits as Asia hedge funds falter

Smaller-sized hedge funds are increasingly throwing in the towel in Asia as they struggle to attract money from risk-wary institutional investors, casting a cloud over prospects of the $128 billion industry. The latest to quit is former Lehman Brothers tr
Published 05 Jun, 2012 12:00am
Former Lehman trader quits as Asia hedge funds falter

Former Lehman trader quits as Asia hedge funds falter

Smaller-sized hedge funds are increasingly throwing in the towel in Asia as they struggle to attract money from risk-wary institutional investors, casting a cloud over prospects of the $128 billion industry. The latest to quit is former Lehman Brothers tr
Published 05 Jun, 2012 12:00am
Former Lehman trader quits as Asia hedge funds falter

Former Lehman trader quits as Asia hedge funds falter

Smaller-sized hedge funds are increasingly throwing in the towel in Asia as they struggle to attract money from risk-wary institutional investors, casting a cloud over prospects of the $128 billion industry. The latest to quit is former Lehman Brothers tr
Published 05 Jun, 2012 12:00am
Former Lehman trader quits as Asia hedge funds falter

Former Lehman trader quits as Asia hedge funds falter

Smaller-sized hedge funds are increasingly throwing in the towel in Asia as they struggle to attract money from risk-wary institutional investors, casting a cloud over prospects of the $128 billion industry. The latest to quit is former Lehman Brothers tr
Published 05 Jun, 2012 12:00am
Index declines by 119.05 points

Index declines by 119.05 points

The KSE-100 index on Monday declined by 119.05 points and closed at the level of 13,757.92 points due to selling mainly by foreign investors on the first day after budget announcement. The foreign investors were net sellers of shares worth $7.13 million.
Published 05 Jun, 2012 12:00am
Index declines by 119.05 points

Index declines by 119.05 points

The KSE-100 index on Monday declined by 119.05 points and closed at the level of 13,757.92 points due to selling mainly by foreign investors on the first day after budget announcement. The foreign investors were net sellers of shares worth $7.13 million.
Published 05 Jun, 2012 12:00am
Index declines by 119.05 points

Index declines by 119.05 points

The KSE-100 index on Monday declined by 119.05 points and closed at the level of 13,757.92 points due to selling mainly by foreign investors on the first day after budget announcement. The foreign investors were net sellers of shares worth $7.13 million.
Published 05 Jun, 2012 12:00am
BRIndex30 down by 102.25 points

BRIndex30 down by 102.25 points

On Monday, BRIndex30 opened at 10,229.12. It touched an intraday high of 10,262.19 and an intraday low of 10,119.87 and closed at 10,126.87 which was -102.25 points or -1 percent lower than previous close. Total volume was 67,607,660, which was 70.63 perc
Published 05 Jun, 2012 12:00am
BRIndex30 down by 102.25 points

BRIndex30 down by 102.25 points

On Monday, BRIndex30 opened at 10,229.12. It touched an intraday high of 10,262.19 and an intraday low of 10,119.87 and closed at 10,126.87 which was -102.25 points or -1 percent lower than previous close. Total volume was 67,607,660, which was 70.63 perc
Published 05 Jun, 2012 12:00am
Nato cuts deal with three Central Asian states

Nato cuts deal with three Central Asian states

Nato has struck a deal with Kazakhstan, Kyrgyzstan and Uzbekistan to remove equipment through their territories as it winds down the Afghan operation, Nato chief Anders Fogh Rasmussen said Monday. "We reached agreement on reverse transit from Afghanistan
Published 05 Jun, 2012 12:00am
Nato cuts deal with three Central Asian states

Nato cuts deal with three Central Asian states

Nato has struck a deal with Kazakhstan, Kyrgyzstan and Uzbekistan to remove equipment through their territories as it winds down the Afghan operation, Nato chief Anders Fogh Rasmussen said Monday. "We reached agreement on reverse transit from Afghanistan
Published 05 Jun, 2012 12:00am
National interests to determine ties with US: Gilani

National interests to determine ties with US: Gilani

Prime Minister Syed Yousuf Raza Gilani on Monday said Pakistan-United States relations were multi-dimensional and important and country's national interests would determine ties between the two countries. "We are trying to have an open, transparent, and m
Published 05 Jun, 2012 12:00am
National interests to determine ties with US: Gilani

National interests to determine ties with US: Gilani

Prime Minister Syed Yousuf Raza Gilani on Monday said Pakistan-United States relations were multi-dimensional and important and country's national interests would determine ties between the two countries. "We are trying to have an open, transparent, and m
Published 05 Jun, 2012 12:00am