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Print - 2012-08-16
MoU signed with China for JF-17 export, Senate body told

MoU signed with China for JF-17 export, Senate body told

Pakistan has signed a Memorandum of Understanding (MoU) with China for the export of JF-17 aircraft, a joint Pak-China venture, Senate's Standing Committee on Defence Production was informed on Wednesday. The committee's in-camera meeting, chaired by Mush
Published 16 Aug, 2012 12:00am
Protests possible if Prime Minister disqualified: Kaira

Protests possible if Prime Minister disqualified: Kaira

The government has not ruled out protests in case Prime Minister Raja Pervez Ashraf is disqualified in National Reconciliation Ordinance (NRO) implementation case. In reply to a question during a briefing after the Cabinet meeting, Information Minister Qa
Published 16 Aug, 2012 12:00am
Protests possible if Prime Minister disqualified: Kaira

Protests possible if Prime Minister disqualified: Kaira

The government has not ruled out protests in case Prime Minister Raja Pervez Ashraf is disqualified in National Reconciliation Ordinance (NRO) implementation case. In reply to a question during a briefing after the Cabinet meeting, Information Minister Qa
Published 16 Aug, 2012 12:00am
Constitution of larger bench: Supreme Court rejects AGP's plea

Constitution of larger bench: Supreme Court rejects AGP's plea

The federation on Wednesday contended during the hearing on the review petition against the National Reconciliation Ordinance (NRO) implementation case that Prime Minister Raja Pervez Ashraf is protected by the constitution.
Published 16 Aug, 2012 12:00am
Constitution of larger bench: Supreme Court rejects AGP's plea

Constitution of larger bench: Supreme Court rejects AGP's plea

The federation on Wednesday contended during the hearing on the review petition against the National Reconciliation Ordinance (NRO) implementation case that Prime Minister Raja Pervez Ashraf is protected by the constitution.
Published 16 Aug, 2012 12:00am
Bank holidays

Bank holidays

The State Bank of Pakistan and all offices of SBP Banking Services Corporation, including the Public Debt Offices, will remain closed from August 20 to 22, 2012 (Monday, Tuesday and Wednesday) being Public Holidays declared by the Government of Pakistan o
Published 16 Aug, 2012 12:00am
Bank holidays

Bank holidays

The State Bank of Pakistan and all offices of SBP Banking Services Corporation, including the Public Debt Offices, will remain closed from August 20 to 22, 2012 (Monday, Tuesday and Wednesday) being Public Holidays declared by the Government of Pakistan o
Published 16 Aug, 2012 12:00am
Bank holidays

Bank holidays

The State Bank of Pakistan and all offices of SBP Banking Services Corporation, including the Public Debt Offices, will remain closed from August 20 to 22, 2012 (Monday, Tuesday and Wednesday) being Public Holidays declared by the Government of Pakistan o
Published 16 Aug, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (August 15, 2012).

Published 16 Aug, 2012 12:00am
Cut-off yield decreases in second auction for PIBs

Cut-off yield decreases in second auction for PIBs

Following a 150 basis points cut in the key policy rate to 10.5 percent by the State Bank of Pakistan (SBP), the cut-off yield (interest rate) of Pakistan Investment Bonds (PIBs) decreased to 1.37 percent in the auction held on Wednesday. State Bank condu
Published 16 Aug, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (August 15, 2012).

Published 16 Aug, 2012 12:00am
Cut-off yield decreases in second auction for PIBs

Cut-off yield decreases in second auction for PIBs

Following a 150 basis points cut in the key policy rate to 10.5 percent by the State Bank of Pakistan (SBP), the cut-off yield (interest rate) of Pakistan Investment Bonds (PIBs) decreased to 1.37 percent in the auction held on Wednesday. State Bank condu
Published 16 Aug, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Wednesday (August 15, 2012).

Published 16 Aug, 2012 12:00am
Cut-off yield decreases in second auction for PIBs

Cut-off yield decreases in second auction for PIBs

Following a 150 basis points cut in the key policy rate to 10.5 percent by the State Bank of Pakistan (SBP), the cut-off yield (interest rate) of Pakistan Investment Bonds (PIBs) decreased to 1.37 percent in the auction held on Wednesday. State Bank condu
Published 16 Aug, 2012 12:00am
Cut-off yield decreases in second auction for PIBs

Cut-off yield decreases in second auction for PIBs

Following a 150 basis points cut in the key policy rate to 10.5 percent by the State Bank of Pakistan (SBP), the cut-off yield (interest rate) of Pakistan Investment Bonds (PIBs) decreased to 1.37 percent in the auction held on Wednesday. State Bank condu
Published 16 Aug, 2012 12:00am
Government fails to reach conclusion on LNG import

Government fails to reach conclusion on LNG import

The government on Wednesday failed to reach a conclusion to initiate import of Liquefied Natural Gas (LNG) other than extending performance bank guarantee for potential importers, it is learnt. According to sources in the Petroleum Ministry, an important
Published 16 Aug, 2012 12:00am
Government fails to reach conclusion on LNG import

Government fails to reach conclusion on LNG import

The government on Wednesday failed to reach a conclusion to initiate import of Liquefied Natural Gas (LNG) other than extending performance bank guarantee for potential importers, it is learnt. According to sources in the Petroleum Ministry, an important
Published 16 Aug, 2012 12:00am
Government fails to reach conclusion on LNG import

Government fails to reach conclusion on LNG import

The government on Wednesday failed to reach a conclusion to initiate import of Liquefied Natural Gas (LNG) other than extending performance bank guarantee for potential importers, it is learnt. According to sources in the Petroleum Ministry, an important
Published 16 Aug, 2012 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (August 15, 2012).

Published 16 Aug, 2012 12:00am
July FDI declines by 50 percent

July FDI declines by 50 percent

The Foreign Direct Investment (FDI) has dropped by 50 percent during the first month of a current fiscal year mainly due to a lack of foreign investors'' interest owing to an adverse law & order situation, a protracted energy crisis and increasing politic
Published 16 Aug, 2012 12:00am
July FDI declines by 50 percent

July FDI declines by 50 percent

The Foreign Direct Investment (FDI) has dropped by 50 percent during the first month of a current fiscal year mainly due to a lack of foreign investors' interest owing to an adverse law & order situation, a protracted energy crisis and increasing politica
Published 16 Aug, 2012 12:00am
July FDI declines by 50 percent

July FDI declines by 50 percent

The Foreign Direct Investment (FDI) has dropped by 50 percent during the first month of a current fiscal year mainly due to a lack of foreign investors' interest owing to an adverse law & order situation, a protracted energy crisis and increasing politica
Published 16 Aug, 2012 12:00am
Heated discussions over Syria's suspension

Heated discussions over Syria's suspension

Members attending an emergency summit of the 57-member Organisation of Islamic Co-operation (OIC) were engaged in "heated discussions behind closed doors" Wednesday regarding a proposal to suspend the membership of Syria from the bloc, an Arab diplomat to
Published 16 Aug, 2012 12:00am
Heated discussions over Syria's suspension

Heated discussions over Syria's suspension

Members attending an emergency summit of the 57-member Organisation of Islamic Co-operation (OIC) were engaged in "heated discussions behind closed doors" Wednesday regarding a proposal to suspend the membership of Syria from the bloc, an Arab diplomat to
Published 16 Aug, 2012 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (August 15, 2012).

Published 16 Aug, 2012 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (August 15, 2012).
Published 16 Aug, 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 Wednesday (August 15, 2012).

Published 16 Aug, 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 Wednesday (August 15, 2012).

Published 16 Aug, 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 Wednesday (August 15, 2012).

Published 16 Aug, 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 Wednesday (August 15, 2012).

Published 16 Aug, 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 16 Aug, 2012 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 16 Aug, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 16 Aug, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 16 Aug, 2012 12:00am
Message from Prime Minister of Pakistan

Message from Prime Minister of Pakistan

On the auspicious occasion of 66th Day of Independence, I would like to extend my felicitations to my countrymen including overseas Pakistanis. August 14, 1947 saw the successful culmination of a heroic struggle of the Muslims of the sub-continent for the
Published 16 Aug, 2012 12:00am
Message from President of the Islamic Republic of Pakistan

Message from President of the Islamic Republic of Pakistan

I wish to extend heartiest felicitations to all the Pakistanis living within the country and abroad on the auspicious occasion of 66th Day of Independence. Falling in the holy month of Ramzan, it is the most important date in our national calendar.
Published 16 Aug, 2012 12:00am
Kenyan top grade tea price steady

Kenyan top grade tea price steady

The average price of Kenyan top grade tea held steady at $4.03 per kg at auction this week, stabilising after two consecutive weeks of falls, market participants said on Wednesday. The east African nation is the world's biggest exporter of black tea, and
Published 16 Aug, 2012 12:00am
Russia's exportable grain surplus may end by November

Russia's exportable grain surplus may end by November

Russia's exportable grain surplus of 10-11 million tonnes could run out by November if the country retains a high pace of exports in coming months, SovEcon agricultural analysts said on Wednesday, fanning fearss about Russian export limits SovEcon expects
Published 16 Aug, 2012 12:00am
Oil World sees Europe's sunflower output down

Oil World sees Europe's sunflower output down

Sunflower seed production in the European Union, Ukraine and Russia will drop 11.7 percent to a total of 24.82 million tonnes this year, from 28.12 million tonnes a year ago, Hamburg-based oilseed analyst Oil World said on Tuesday. "We are now in a transi
Published 16 Aug, 2012 12:00am
Bangladesh tea prices up

Bangladesh tea prices up

Tea prices in Bangladesh rose for a fifth consecutive weekly auction on Tuesday on strong demand from buyers and tight supply ahead of the Eid festival, brokers said. The average price of Bangladeshi tea was 209.45 taka ($2.50) a kg against 208.59 taka pe
Published 16 Aug, 2012 12:00am
China's sugar futures limit up on talk of state purchase

China's sugar futures limit up on talk of state purchase

Talk that China may soon buy another 500,000 tonnes of sugar drove sugar futures limit up on the Zhengzhou Commodity Exchange in the country's central region, traders said on Wednesday. Zhengzhou white sugar futures hit the 4 percent limit up soon after t
Published 16 Aug, 2012 12:00am
Indonesia has option to buy 500,000 tonnes of Vietnam rice

Indonesia has option to buy 500,000 tonnes of Vietnam rice

Vietnam has agreed to give Indonesia the option of buying up to 500,000 tonnes of rice if the need arises, probably after September, an official in Southeast Asia's largest economy said on Tuesday, as the country prepares to ward off food inflation.
Published 16 Aug, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 128,663 tonnes of cargo comprising 104,434 tonnes of import cargo and 24,229 tonnes of export cargo including 2,996 loaded & empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 104,434
Published 16 Aug, 2012 12:00am
Oil cake market rates

Oil cake market rates

Both the futures were higher on the forward cottonseeds oilcake market on Wednesday in process of trading, dealers said. The December vaida closed at Rs 447.50 and opened with 30 paisa gain at Rs 447.80 in process of trading, they said. While, the January
Published 16 Aug, 2012 12:00am
Slow phutti arrivals push rates up on cotton market

Slow phutti arrivals push rates up on cotton market

Tight supply of phutti pushed the prices higher on the cotton market on Wednesday, dealers said. Official spot rate was unchanged at Rs 5800, they said. In the ready business, over 9,000 bales of cotton changed hands between Rs 5800-6100, they said.
Published 16 Aug, 2012 12:00am
HRW wheat bids steady

HRW wheat bids steady

Spot basis bids for hard red winter wheat in the US Plains were unchanged on Wednesday in a lackluster market, merchants said. Selling was slow amid declines in futures prices. Kansas City Board of Trade HRW futures ended lower on Tuesday, with KCBT Septe
Published 16 Aug, 2012 12:00am
Upward trend seen on grain market

Upward trend seen on grain market

Higher trend was seen on the wholesale grain market on Wednesday in process of modest tradng, dealers said. On the cereals side, Makai low type was higher by Rs 87 to Rs 2600 and the best type was up by Rs 100 to Rs 2625, Juwar low type gained Rs 100 to R
Published 16 Aug, 2012 12:00am
Samsung takes on iPad with Galaxy Note tablet

Samsung takes on iPad with Galaxy Note tablet

Samsung on Wednesday unveiled a Galaxy Note tablet designed to make a more personal connection with users and aiming to knock Apple's iPad off its market throne. A key feature of the Galaxy Note 10.1 was a sophisticated "S Pen" that can be used as if it w
Published 16 Aug, 2012 12:00am
Commonwealth Bank posts record annual profit

Commonwealth Bank posts record annual profit

Australia's biggest banking group, the Commonwealth Bank, on Wednesday posted a record full-year net profit despite subdued revenue growth with customers cautious about global instability. The country's top home lender said profit for the 12 months ending
Published 16 Aug, 2012 12:00am
Commonwealth Bank posts record annual profit

Commonwealth Bank posts record annual profit

Australia's biggest banking group, the Commonwealth Bank, on Wednesday posted a record full-year net profit despite subdued revenue growth with customers cautious about global instability. The country's top home lender said profit for the 12 months ending
Published 16 Aug, 2012 12:00am
Feds tighten appraisal rules for risky mortgages

Feds tighten appraisal rules for risky mortgages

Federal regulators are proposing new requirements for property appraisals used to underwrite some higher-risk mortgage loans. Agencies including the Federal Reserve and the Consumer Financial Protection Bureau said Wednesday that all appraisals on risky m
Published 16 Aug, 2012 12:00am
European banks hold more than 1 trillion euros in bad loans

European banks hold more than 1 trillion euros in bad loans

European banks are holding around 1.05 trillion euros (1.3 trillion dollars) in non-performing loans (NPL) - credit that is in or close to default - according to accountancy firm PriceWaterhouseCoopers (PWC). A PWC study released in Frankfurt on Wednesday
Published 16 Aug, 2012 12:00am
Spain to levy green tax on natural gas

Spain to levy green tax on natural gas

Spain is aiming to impose a green tax on natural gas to help plug a 24 billion euro ($29.6 billion) hole created in its finances by years of forcing utilities to sell power below cost, agency Europa Press reported. The tax would only apply to natural gas,
Published 16 Aug, 2012 12:00am
Brazil unveils steps to lure $66 billion in investment

Brazil unveils steps to lure $66 billion in investment

Brazil's government unveiled measures on Wednesday to lure up to 133 billion reais ($66 billion) in private investment for new roads and railways needed to unclog the country's transportation bottlenecks. The measures include a plan to double capacity of
Published 16 Aug, 2012 12:00am
Chinese economy still under pressure: Wen

Chinese economy still under pressure: Wen

China's economy faces big headwinds though cooling inflation is giving the government more leeway to manoeuvre monetary policy, Premier Wen Jiabao was quoted by state media as saying on Wednesday. Wen's comments followed a raft of data last week that sugg
Published 16 Aug, 2012 12:00am
StanChart eyes joint deal after backing down in US

StanChart eyes joint deal after backing down in US

Standard Chartered is pursuing a collective settlement with other US authorities after backing down and agreeing to pay $340 million to New York's financial regulator following mounting pressure from shareholders. The bank said it made a "pragmatic decisi
Published 16 Aug, 2012 12:00am
China, Canada bilateral investment booms, trade lags

China, Canada bilateral investment booms, trade lags

Chinese foreign investment in Canada has boomed over the last decade but trade lags, according to a study by both governments that was released on Wednesday and outlined "room for much growth." The joint study to evaluate the potential for deeper trade ti
Published 16 Aug, 2012 12:00am
Britain on course for more stimulus

Britain on course for more stimulus

Britain's recession-hit economy remained on course for more cash stimulus despite an improving employment picture, minutes from the Bank of England's latest monetary policy meeting showed Wednesday. Minutes from the BoE's meeting at the start of August re
Published 16 Aug, 2012 12:00am
Britain on course for more stimulus

Britain on course for more stimulus

Britain's recession-hit economy remained on course for more cash stimulus despite an improving employment picture, minutes from the Bank of England's latest monetary policy meeting showed Wednesday. Minutes from the BoE's meeting at the start of August re
Published 16 Aug, 2012 12:00am
UAE announces $3 billion in nuclear fuel deals

UAE announces $3 billion in nuclear fuel deals

The United Arab Emirates said Wednesday it had selected six companies to supply fuel to its four planned nuclear reactors in deals worth an estimated $3 billion (2.43 billion euros). "The six contracts are valued at approximately US $3 billion according t
Published 16 Aug, 2012 12:00am
Exxon, Shell-led group win $10 billion Ukraine gas project

Exxon, Shell-led group win $10 billion Ukraine gas project

Ukraine has picked a consortium led by ExxonMobil and Royal Dutch Shell to develop its Skifska gas field in the Black Sea, it said on Wednesday, as it seeks to wean itself off increasingly expensive Russian gas imports. The project, whose total costs have
Published 16 Aug, 2012 12:00am
Muted US inflation supports more Fed easing

Muted US inflation supports more Fed easing

US consumer prices were flat in July for a second straight month and the year-over-year increase was the smallest in more than 1-1/2 years, giving the Federal Reserve room to ease policy further to tackle high unemployment. Other reports on Wednesday show
Published 16 Aug, 2012 12:00am
Dubai's Drake & Scull slumps; Gulf markets muted

Dubai's Drake & Scull slumps; Gulf markets muted

Dubai contractor Drake & Scull International slumped to a one-week low on Wednesday after it posted disappointing second-quarter numbers that missed forecasts, but trading on most regional markets were muted ahead of the Eid holidays. Drake shares dropped
Published 16 Aug, 2012 12:00am
Nikkei average weakens

Nikkei average weakens

Japan's Nikkei share average edged lower on Wednesday as bank and steel shares slid, offsetting gains in exporters from a weaker yen following encouraging economic data from the United States and Germany. The Nikkei pared losses at the last minute to end
Published 16 Aug, 2012 12:00am
Wall Street flat on low volume

Wall Street flat on low volume

US stocks ended little changed on Tuesday in what investors described as a fatigued market after the S&P 500 rose in seven of the past eight sessions. Retailers were a notable standout after Home Depot raised its profit forecast due to improvement in the
Published 16 Aug, 2012 12:00am
Most Southeast Asian bourses flat

Most Southeast Asian bourses flat

Most Southeast Asian stock markets ended flat to weaker on Wednesday, with Singapore dropping almost 1 percent, led down by palm oil firm Wilmar International Ltd which came under selling pressure due to worse-than-expected quarterly earnings. The Straits
Published 16 Aug, 2012 12:00am