AGL 39.58 Decreased By ▼ -0.42 (-1.05%)
AIRLINK 131.22 Increased By ▲ 2.16 (1.67%)
BOP 6.81 Increased By ▲ 0.06 (0.89%)
CNERGY 4.71 Increased By ▲ 0.22 (4.9%)
DCL 8.44 Decreased By ▼ -0.11 (-1.29%)
DFML 41.47 Increased By ▲ 0.65 (1.59%)
DGKC 82.09 Increased By ▲ 1.13 (1.4%)
FCCL 33.10 Increased By ▲ 0.33 (1.01%)
FFBL 72.87 Decreased By ▼ -1.56 (-2.1%)
FFL 12.26 Increased By ▲ 0.52 (4.43%)
HUBC 110.74 Increased By ▲ 1.16 (1.06%)
HUMNL 14.51 Increased By ▲ 0.76 (5.53%)
KEL 5.19 Decreased By ▼ -0.12 (-2.26%)
KOSM 7.61 Decreased By ▼ -0.11 (-1.42%)
MLCF 38.90 Increased By ▲ 0.30 (0.78%)
NBP 64.01 Increased By ▲ 0.50 (0.79%)
OGDC 192.82 Decreased By ▼ -1.87 (-0.96%)
PAEL 25.68 Decreased By ▼ -0.03 (-0.12%)
PIBTL 7.34 Decreased By ▼ -0.05 (-0.68%)
PPL 154.07 Decreased By ▼ -1.38 (-0.89%)
PRL 25.83 Increased By ▲ 0.04 (0.16%)
PTC 17.81 Increased By ▲ 0.31 (1.77%)
SEARL 82.30 Increased By ▲ 3.65 (4.64%)
TELE 7.76 Decreased By ▼ -0.10 (-1.27%)
TOMCL 33.46 Decreased By ▼ -0.27 (-0.8%)
TPLP 8.49 Increased By ▲ 0.09 (1.07%)
TREET 16.62 Increased By ▲ 0.35 (2.15%)
TRG 57.40 Decreased By ▼ -0.82 (-1.41%)
UNITY 27.51 Increased By ▲ 0.02 (0.07%)
WTL 1.37 Decreased By ▼ -0.02 (-1.44%)
BR100 10,504 Increased By 59.3 (0.57%)
BR30 31,226 Increased By 36.9 (0.12%)
KSE100 98,080 Increased By 281.6 (0.29%)
KSE30 30,559 Increased By 78 (0.26%)
Nov 25, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2012-07-28
BRIndex30 drops 37.2 points

BRIndex30 drops 37.2 points

On Friday, BRIndex30 opened at 10,432.44. It touched an intraday high of 10,443.76 and an intraday low of 10,351.89 and closed at 10,395.24 which was -37.2 points or -0.36 percent lower than previous close. Total volume was 37,961,700, which was 65.07 per
Published 28 Jul, 2012 12:00am
Index loses another 26.88 points

Index loses another 26.88 points

A negative trend continued on the Karachi share market on Friday and the benchmark KSE-100 index lost another 26.88 points to close at 14,526.41 points. The market opened on a positive note and the index hit 14,568.91 points intra-day high, however the in
Published 28 Jul, 2012 12:00am
Index loses another 26.88 points

Index loses another 26.88 points

A negative trend continued on the Karachi share market on Friday and the benchmark KSE-100 index lost another 26.88 points to close at 14,526.41 points. The market opened on a positive note and the index hit 14,568.91 points intra-day high, however the in
Published 28 Jul, 2012 12:00am
Index loses another 26.88 points

Index loses another 26.88 points

A negative trend continued on the Karachi share market on Friday and the benchmark KSE-100 index lost another 26.88 points to close at 14,526.41 points. The market opened on a positive note and the index hit 14,568.91 points intra-day high, however the in
Published 28 Jul, 2012 12:00am
No WHT on Rs 50,000 withdrawal from banks

No WHT on Rs 50,000 withdrawal from banks

There would be no withholding tax on cash withdrawal from banks up to the limit of Rs 50,000. Sources told Business Recorder here on Friday that the FBR''s explanatory circular to be issued on Monday (July 30) would clarify applicability of the wit
Published 28 Jul, 2012 12:00am
No WHT on Rs 50,000 withdrawal from banks

No WHT on Rs 50,000 withdrawal from banks

There would be no withholding tax on cash withdrawal from banks up to the limit of Rs 50,000. Sources told Business Recorder here on Friday that the FBR's explanatory circular to be issued on Monday (July 30) would clarify applicability of the with
Published 28 Jul, 2012 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (July 27, 2012).

Published 28 Jul, 2012 12:00am
No WHT on Rs 50,000 withdrawal from banks

No WHT on Rs 50,000 withdrawal from banks

There would be no withholding tax on cash withdrawal from banks up to the limit of Rs 50,000. Sources told Business Recorder here on Friday that the FBR's explanatory circular to be issued on Monday (July 30) would clarify applicability of the with
Published 28 Jul, 2012 12:00am
Facebook''s value slides $10 billion; outlook unclear

Facebook''s value slides $10 billion; outlook unclear

Investors wiped $10 billion off the value of Facebook Inc on Friday, taking the recently listed shares to a new low, after the social network offered no forecast and analysts said mobile investments would put future earnings under pressure. The 17 percent
Published 28 Jul, 2012 12:00am
Facebook's value slides $10 billion; outlook unclear

Facebook's value slides $10 billion; outlook unclear

Investors wiped $10 billion off the value of Facebook Inc on Friday, taking the recently listed shares to a new low, after the social network offered no forecast and analysts said mobile investments would put future earnings under pressure. The 17 percent
Published 28 Jul, 2012 12:00am
Facebook's value slides $10 billion; outlook unclear

Facebook's value slides $10 billion; outlook unclear

Investors wiped $10 billion off the value of Facebook Inc on Friday, taking the recently listed shares to a new low, after the social network offered no forecast and analysts said mobile investments would put future earnings under pressure. The 17 percent
Published 28 Jul, 2012 12:00am
Germany, France vow to do ''everything to protect eurozone''

Germany, France vow to do ''everything to protect eurozone''

German Chancellor Angela Merkel and French President Francois Hollande pledged to do "everything to protect the eurozone" after telephone talks Friday. "Germany and France are deeply committed to the integrity of the eurozone. They are committed to do eve
Published 28 Jul, 2012 12:00am
Germany, France vow to do 'everything to protect eurozone'

Germany, France vow to do 'everything to protect eurozone'

German Chancellor Angela Merkel and French President Francois Hollande pledged to do "everything to protect the eurozone" after telephone talks Friday. "Germany and France are deeply committed to the integrity of the eurozone. They are committed to do eve
Published 28 Jul, 2012 12:00am
Germany, France vow to do 'everything to protect eurozone'

Germany, France vow to do 'everything to protect eurozone'

German Chancellor Angela Merkel and French President Francois Hollande pledged to do "everything to protect the eurozone" after telephone talks Friday. "Germany and France are deeply committed to the integrity of the eurozone. They are committed to do eve
Published 28 Jul, 2012 12:00am
Singh formally invited

Singh formally invited

President Asif Ali Zardari on Friday formally invited Indian Prime Minister Dr Manmohan Singh to visit Pakistan, saying that it will provide an opportunity to the two leaderships to take stock of bilateral relations. A handout quoted president's spokesper
Published 28 Jul, 2012 12:00am
Singh formally invited

Singh formally invited

President Asif Ali Zardari on Friday formally invited Indian Prime Minister Dr Manmohan Singh to visit Pakistan, saying that it will provide an opportunity to the two leaderships to take stock of bilateral relations. A handout quoted president's spokesper
Published 28 Jul, 2012 12:00am
Rising power dues: energy sector''s collapse feared

Rising power dues: energy sector''s collapse feared

Top policymakers fear that Pakistan''s energy sector may collapse within a week due to rising power sector dues which have touched Rs 210 billion unless sufficient resources are promptly made available to forestall the collapse. "I fear that the entire en
Published 28 Jul, 2012 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (July 27, 2012).

Published 28 Jul, 2012 12:00am
Rising power dues: energy sector's collapse feared

Rising power dues: energy sector's collapse feared

Top policymakers fear that Pakistan's energy sector may collapse within a week due to rising power sector dues which have touched Rs 210 billion unless sufficient resources are promptly made available to forestall the collapse. "I fear that the entire ene
Published 28 Jul, 2012 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (July 27, 2012).
Published 28 Jul, 2012 12:00am
Rising power dues: energy sector's collapse feared

Rising power dues: energy sector's collapse feared

Top policymakers fear that Pakistan's energy sector may collapse within a week due to rising power sector dues which have touched Rs 210 billion unless sufficient resources are promptly made available to forestall the collapse. "I fear that the entire ene
Published 28 Jul, 2012 12:00am
Stop violence against women: Zardari

Stop violence against women: Zardari

President Asif Ali Zardari has said that the Government has decided to appoint women judges in the judiciary as part of its efforts to take social, economic, legal and constitutional steps for the empowerment of women and for their protection from all kin
Published 28 Jul, 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 Friday (July 27, 2012).

Published 28 Jul, 2012 12:00am
Stop violence against women: Zardari

Stop violence against women: Zardari

President Asif Ali Zardari has said that the Government has decided to appoint women judges in the judiciary as part of its efforts to take social, economic, legal and constitutional steps for the empowerment of women and for their protection from all kin
Published 28 Jul, 2012 12:00am
Barclays dragged into new probe after Libor blow

Barclays dragged into new probe after Libor blow

Barclays Plc revealed a new regulatory probe and more US lawsuits on Friday, making it harder for the British lender to rebuild its reputation damaged by the central role it played in the interest rate-rigging scandal shaking banks. Despite these latest b
Published 28 Jul, 2012 12:00am
Barclays dragged into new probe after Libor blow

Barclays dragged into new probe after Libor blow

Barclays Plc revealed a new regulatory probe and more US lawsuits on Friday, making it harder for the British lender to rebuild its reputation damaged by the central role it played in the interest rate-rigging scandal shaking banks. Despite these latest b
Published 28 Jul, 2012 12:00am
Barclays dragged into new probe after Libor blow

Barclays dragged into new probe after Libor blow

Barclays Plc revealed a new regulatory probe and more US lawsuits on Friday, making it harder for the British lender to rebuild its reputation damaged by the central role it played in the interest rate-rigging scandal shaking banks. Despite these latest b
Published 28 Jul, 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 Friday (July 27, 2012).

Published 28 Jul, 2012 12:00am
Barclays dragged into new probe after Libor blow

Barclays dragged into new probe after Libor blow

Barclays Plc revealed a new regulatory probe and more US lawsuits on Friday, making it harder for the British lender to rebuild its reputation damaged by the central role it played in the interest rate-rigging scandal shaking banks. Despite these latest b
Published 28 Jul, 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 Friday (July 27, 2012).

Published 28 Jul, 2012 12:00am
Most cases related to executive: Supreme Court

Most cases related to executive: Supreme Court

Chief Justice Iftikhar Muhammad Chaudhry observed on Friday that there must be a plausible rationale behind the promulgation of any law. A five-judge bench of apex court comprising Justice Iftikhar Muhammad Chaudhry, Justice Mian Shakirullah Jan, Justice
Published 28 Jul, 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 Friday (July 27, 2012).

Published 28 Jul, 2012 12:00am
Most cases related to executive: Supreme Court

Most cases related to executive: Supreme Court

Chief Justice Iftikhar Muhammad Chaudhry observed on Friday that there must be a plausible rationale behind the promulgation of any law. A five-judge bench of apex court comprising Justice Iftikhar Muhammad Chaudhry, Justice Mian Shakirullah Jan, Justice
Published 28 Jul, 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 28 Jul, 2012 12:00am
Congress pushes for terrorist label for Haqqani

Congress pushes for terrorist label for Haqqani

Congress ratcheted up the pressure on the Obama administration to slap the terrorist label on the Haqqani network, the militant group responsible for plotting and launching attacks from Pakistan against US-led forces in Afghanistan. By voice vote, the Sen
Published 28 Jul, 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 Friday (July 27, 2012). Conversion rates for foreign currency deposits, DBC/FCBC, Special US$ Bonds and profits thereon and for forward cover for d
Published 28 Jul, 2012 12:00am
Congress pushes for terrorist label for Haqqani

Congress pushes for terrorist label for Haqqani

Congress ratcheted up the pressure on the Obama administration to slap the terrorist label on the Haqqani network, the militant group responsible for plotting and launching attacks from Pakistan against US-led forces in Afghanistan. By voice vote, the Sen
Published 28 Jul, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 28 Jul, 2012 12:00am
Eccentric Games opening starts with countdown, bell

Eccentric Games opening starts with countdown, bell

The eagerly awaited opening ceremony to the 2012 Olympic Games kicked off on Friday with a mass countdown and the chime of a giant bell, ushering in an eccentric and exuberant celebration of British history, art and culture. Some 60,000 spectators crowded
Published 28 Jul, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 28 Jul, 2012 12:00am
Eccentric Games opening starts with countdown, bell

Eccentric Games opening starts with countdown, bell

The eagerly awaited opening ceremony to the 2012 Olympic Games kicked off on Friday with a mass countdown and the chime of a giant bell, ushering in an eccentric and exuberant celebration of British history, art and culture. Some 60,000 spectators crowded
Published 28 Jul, 2012 12:00am
BRIDGE NOTES: It pays to be safe and logical

BRIDGE NOTES: It pays to be safe and logical

Bridge is indeed a game of logic and simple reasoning. It has its own requirements according to the ends in view. In other words, the level of the Final contract determines the nature of declarer play, imbuing it with the motivational factor to reason out
Published 28 Jul, 2012 12:00am
LITERARY NOTES: Human rights: role of writers, artists

LITERARY NOTES: Human rights: role of writers, artists

The Human Rights Commission of Pakistan's Convention held in Karachi last week, discussed in its three sessions the topics : The 21st Century and Writers - the Role of Writers and Artists in the struggle for Human Rights and Culture and the Challenges of
Published 28 Jul, 2012 12:00am
BOOK REVIEWS: For the love of homeland

BOOK REVIEWS: For the love of homeland

The book discusses the journey of Zafar Mahmood in the art world. The twenty five years of artistic life which Zafar Mahmood lives are well documented in this book. A self-taught artist Zafar has struggled and worked hard to become a recognised watercolou
Published 28 Jul, 2012 12:00am
BOOK REVIEWS: Professor Mumtaz Hussain's vision

BOOK REVIEWS: Professor Mumtaz Hussain's vision

The compilation being introduced here is about Professor Mumtaz Hussain whose contribution to Urdu literature is incomparable in many respects. He was among a few writers, particularly critics who kept themselves abreast with the developments in the world
Published 28 Jul, 2012 12:00am
A conversation with Shabbir Mansuri

A conversation with Shabbir Mansuri

Shabbir Mansuri is an eminent scholar, researcher, educationist, Chief Executive Officer/Founding Director of the Institute on Religion and Civic Values (IRCV), in United States. He is an advisory member on a variety of academic and public educational bod
Published 28 Jul, 2012 12:00am
ART FACTS: Calligraphy - a religious and cultural heritage

ART FACTS: Calligraphy - a religious and cultural heritage

Calligraphy in the present age has become the most venerated form of Islamic art. And contemporary artists through their art creating a new heritage of calligraphy. The calligraphers work demands more perfection as there is no chance to make a mistake or
Published 28 Jul, 2012 12:00am
KARACHI CHRONICLE: It's best to read it in its original language

KARACHI CHRONICLE: It's best to read it in its original language

Taraveeh, these days, is held at so many venues besides mosques. The attendance of devotees is as large in clubs, bungalows and Islamic institutions as in the masjids. Nevertheless, the number of days in Ramazan devoted to taraveeh keeps decreasing. Once
Published 28 Jul, 2012 12:00am
Hamdard Laboratories (Waqf) Pakistan

Hamdard Laboratories (Waqf) Pakistan

Pakistan came into being in 1947. One of its earliest establishments was Hamdard Pakistan, set up in 1948 by Hakim Mohammed Said, starting in two rented rooms in old Karachi as a clinic of Traditional Eastern (also called Unani or Graeco Arab) Medicine. T
Published 28 Jul, 2012 12:00am
K&N's Foods (Pvt) Limited

K&N's Foods (Pvt) Limited

K&N's, a leading name of Pakistan's Poultry Industry started in 1964 with a single minded objective of providing better nutrition for health and happiness of the Nation, and has since been a founding pillar and beacon for the poultry industry. With years
Published 28 Jul, 2012 12:00am
Nutritional value of dates

Nutritional value of dates

Dates have been a staple food of the Middle East for thousands of years. They are believed to have originated around the Persian Gulf, and have been cultivated since ancient times from Mesopotamia to prehistoric Egypt, possibly as early as 4000 BC. There
Published 28 Jul, 2012 12:00am
Ramazan and its significance

Ramazan and its significance

After the prayer and zakah, the fast is the next important worship ritual of Islam. In the Arabic language, the word used for it is (sawm), which literally means "to abstain from something" and "to give up something". As a term of the Islamic shari'ah, it
Published 28 Jul, 2012 12:00am
HRW wheat bids steady

HRW wheat bids steady

Spot basis bids for hard red winter wheat in the US Plains held steady Friday amid demand from mills and continued slow farmer selling, traders said. Export demand was slow due to higher domestic prices in the wake of the worst drought in 56 years devasta
Published 28 Jul, 2012 12:00am
US Midwest corn, soya bids steady

US Midwest corn, soya bids steady

Spot basis bids for corn and soyabeans were mostly steady at processors and elevators in the interior US Midwest on Thursday as farmers held back from booking crop sales, dealers said. Farmers sold light amounts of old-crop corn and soyabeans on Wednesday
Published 28 Jul, 2012 12:00am
Kenya's tea output fall 11 percent

Kenya's tea output fall 11 percent

Kenya's tea output fell 11.4 percent in the first half of the year due to extreme weather conditions, the tea board said on Wednesday, with full-year production projected to decline 5 percent compared to 2011. The tea board said 2012 output was expected t
Published 28 Jul, 2012 12:00am
US corn export premiums fall on poor demand

US corn export premiums fall on poor demand

US corn export premiums fell to the lowest level since early April on Thursday as poor export demand pressured the basis while futures also lost ground. USDA early Thursday put export sales of corn last week at a negative 140,400 tonnes after China cancel
Published 28 Jul, 2012 12:00am
Russian wheat crop below 47 million tonnes this year

Russian wheat crop below 47 million tonnes this year

Russia's wheat harvest is likely to be below 47 million tonnes this year, as drought that has damaged part of its crop is seen cutting yields further in the productive northern region, French farm data supplier Geosys said in the lowest forecast to date.
Published 28 Jul, 2012 12:00am
Drought, heat hit southeast Europe's grain crops

Drought, heat hit southeast Europe's grain crops

Extensive drought and scorching temperatures in south-eastern Europe have cut wheat yields this year and put at risk maize crops in the region, farmers and officials said on Thursday. In Black Sea producers Bulgaria and Romania, sizzling temperatures in J
Published 28 Jul, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 122,460 tonnes of cargo comprising 85,107 tonnes of import cargo and 37,353 tonnes of export cargo including 4,924 loaded & empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 85,107 tonn
Published 28 Jul, 2012 12:00am
No change on grain market

No change on grain market

According to the grain and seed merchants group's press release, not a single change was seen on the wholesale grain and oilseeds market on Friday, as almost all the participants remained busy in preparations for Juma prayers.
Published 28 Jul, 2012 12:00am
Disaster-hit Japan could use microfinance: Yunus

Disaster-hit Japan could use microfinance: Yunus

Nobel prize winner Muhammad Yunus said Thursday that microfinance could help disaster-struck Japan rebuild, even though the concept he pioneered is usually associated with poor and developing nations. Yunus, seen as one of the world's leading anti-poverty
Published 28 Jul, 2012 12:00am
Nissan's profit down

Nissan's profit down

Nissan on Thursday posted a 15 percent drop in quarterly profit as a strong yen and weak European market dented earnings, but Japan's second-biggest automaker said its full-year forecast was on track. Nissan, part-owned by France's Renault, has announced
Published 28 Jul, 2012 12:00am
Nissan's profit down

Nissan's profit down

Nissan on Thursday posted a 15 percent drop in quarterly profit as a strong yen and weak European market dented earnings, but Japan's second-biggest automaker said its full-year forecast was on track. Nissan, part-owned by France's Renault, has announced
Published 28 Jul, 2012 12:00am
Apple to buy fingerprint sensor maker AuthenTec for $356 million

Apple to buy fingerprint sensor maker AuthenTec for $356 million

Apple Inc has agreed to buy fingerprint sensor technology developer AuthenTec Inc for about $356 million, in a deal that could put its iPhone at the center of the emerging mobile payments market. Apple is paying $8 per share, a 58-percent premium, for the
Published 28 Jul, 2012 12:00am
Facebook co-founder on Singapore rich list

Facebook co-founder on Singapore rich list

Facebook co-founder Eduardo Saverin, who now lives in Singapore, is among the city-state's wealthiest people with an estimated fortune of 2.2 billion US dollars, a rich-list released on Thursday showed. He is ranked 8th in Forbes magazine's latest list of
Published 28 Jul, 2012 12:00am
Chinese city in $130 billion economy stimulus plan

Chinese city in $130 billion economy stimulus plan

The government of Changsha, the capital of central China's Hunan province, has launched an 829 billion yuan ($130 billion) investment stimulus programme to bolster the local economy, state media has reported. The money would be spent on 195 projects, incl
Published 28 Jul, 2012 12:00am
China's CNOOC may tap bond, loan markets for Nexen bid

China's CNOOC may tap bond, loan markets for Nexen bid

China's CNOOC Ltd, the world's biggest energy explorer by market value, may borrow several billion dollars early next year to help fund its planned $15.1 billion cash bid for Nexen Inc, sources familiar with the matter said. Until then, CNOOC is likely to
Published 28 Jul, 2012 12:00am
China's CNOOC may tap bond, loan markets for Nexen bid

China's CNOOC may tap bond, loan markets for Nexen bid

China's CNOOC Ltd, the world's biggest energy explorer by market value, may borrow several billion dollars early next year to help fund its planned $15.1 billion cash bid for Nexen Inc, sources familiar with the matter said. Until then, CNOOC is likely to
Published 28 Jul, 2012 12:00am
US weighs retail sweep after Wal-Mart bribery scandal

US weighs retail sweep after Wal-Mart bribery scandal

US authorities are considering launching a wide-ranging examination of the retail industry for violations of an anti-foreign bribery law, after Wal-Mart and other retailers have come forth with their own potential offences, people familiar with the matter
Published 28 Jul, 2012 12:00am
Italy's borrowing costs drop

Italy's borrowing costs drop

Italy's borrowing costs dropped in an auction of six-month bonds on Friday that raised 8.5 billion euros ($10.4 billion) following a European Central Bank pledge to do everything to save the euro. The rate on the six-month bonds dropped to 2.454 percent c
Published 28 Jul, 2012 12:00am
Italy's borrowing costs drop

Italy's borrowing costs drop

Italy's borrowing costs dropped in an auction of six-month bonds on Friday that raised 8.5 billion euros ($10.4 billion) following a European Central Bank pledge to do everything to save the euro. The rate on the six-month bonds dropped to 2.454 percent c
Published 28 Jul, 2012 12:00am
White House lowers its growth forecasts for 2012, 2013

White House lowers its growth forecasts for 2012, 2013

The White House cut its outlook for US growth in 2012 and 2013 on Friday, hours after data showed the economy grew at a tepid pace in the second quarter, raising concerns about a slowdown that could mar President Barack Obama's re-election chances.
Published 28 Jul, 2012 12:00am
J.P Morgan's Dimon shuffles managers just below him

J.P Morgan's Dimon shuffles managers just below him

J.P. Morgan Chase & Co Chief Executive Jamie Dimon reshuffled managers just below him, signalling that the biggest US bank is preparing for life after its famed boss. The moves come two weeks after J.P. Morgan said it had lost nearly $6 billion from bad d
Published 28 Jul, 2012 12:00am
French consumer morale weaker than expected on jobs fears

French consumer morale weaker than expected on jobs fears

French consumer confidence fell unexpectedly in July to its lowest level since February in the face of growing fears about unemployment as a slew of companies unveil plans for major layoffs, a survey showed on Friday. The INSEE official statistics office
Published 28 Jul, 2012 12:00am
Bundesbank narrows ECB crisis-fighting options

Bundesbank narrows ECB crisis-fighting options

Germany's powerful Bundesbank pushed back on Friday against European Central Bank President Mario Draghi's pledge to do whatever is necessary to protect the euro zone from collapse, but markets rallied on a report of imminent policy action.
Published 28 Jul, 2012 12:00am
Prospects for Swiss economy brighten

Prospects for Swiss economy brighten

The clouds hanging over the Swiss economy are lifting, a leading indicator showed on Friday, as the central bank's cap on the franc currency helps shield the country from the fallout of the euro zone's debt crisis. The index compiled by the KOF research i
Published 28 Jul, 2012 12:00am
Argentina tightens control over energy industry

Argentina tightens control over energy industry

Argentine Deputy Economy Minister Axel Kicillof, who masterminded the nationalisation of leading oil company YPF, will oversee an energy investment plan that tightens control over private companies, the government said on Friday. Oil companies operating i
Published 28 Jul, 2012 12:00am
Spain jobless rate nears 25 percent, dampening relief

Spain jobless rate nears 25 percent, dampening relief

Spain's jobless rate neared 25 percent in June, officials said Friday, darkening the recession outlook despite relief on financial markets at a vow of support by the European Central Bank. The unemployment rate rose in the second quarter to 24.63 percent
Published 28 Jul, 2012 12:00am
Previous Day