Easier trend was seen on the forward cottonseeds oilcake market on Tuesday in process of trading, dealers said. The December vaida closed at Rs 445.80 and it showed 30 paisa fall at Rs 445.50 at open, they said. The January contract ended at Rs 896.00, de

Prices showed more appreciation on the cotton market on Tuesday in the process of a strong demand by mills and spinners, dealers said. Official spot rate was higher by Rs 100 to Rs 5,300, they said. In the ready business, over 25,000 bales of cotton chang

Europe's nuclear reactors need investment of 10-25 billion euros, a draft European Commission report said, following a safety review designed to ensure a disaster like Japan's Fukushima cannot happen. The Commission is expected to finalise the stress test

Frankfurt Airport, Germany's biggest hub, opened an extension of one of its two terminals on Tuesday as it seeks to boost capacity by six million passengers a year. Construction of the 800-metre (-yard) long complex cost 700 million euros ($900 million) a

Iraq's central bank has eased restrictions on the sale of dollars in a step likely to boost the dinar currency, officials said on Tuesday. The central bank tightened rules in April over who could participate in its daily dollar auctions and the amount the

When Slovenia joined the euro in 2007 it had the fastest growth in the currency area and its 2 million inhabitants had some of the highest living standards in eastern Europe. The southern Alpine country is now in recession, shut out of the bond market and

Russian President Vladimir Putin said he was worried about rising inflation but stopped short of calling for curbs on grain exports to contain food prices after drought decimated this year's harvest. Inflation, currently exceeding the 6 percent year-end t

The Iranian currency fell to a record low on Tuesday as the Islamic republic struggles under the impact of Western economic sanctions and nervous citizens rushed to change their savings into hard currency. The Iranian government blamed speculators for the

Toyota and Chrysler posted solid gains in US auto sales in September while rivals General Motors and Ford said Tuesday their growth stalled even as the overall industry's outlook appeared bright. GM posted its best September since the crash of 2008 as sal

Spanish Prime Minister Mariano Rajoy said on Tuesday a request for European aid was not imminent following a report the country could apply for help as soon as this weekend. Rajoy made the comments after meeting in Madrid with the 17 leaders of Spain's re

France and Germany have collided over the location of the headquarters for a new aerospace giant to be formed from a planned merger of Europe's EADS and Britain's BAE Systems, sources familiar with the matter said on Tuesday. France wants the group's head

An EU advisory group called on Tuesday for banks' traditional deposit-taking business to be legally separated from higher risk activities, drawing fire from the industry even though it stopped short of demanding a full break up of lenders.

Japan's Nikkei slipped on Tuesday on concerns over company earnings after a handful of firms cut forecasts, but losses were capped by gains in mobile operator Softbank Corp after its purchase of a smaller rival. The Nikkei eased 0.1 percent to 8,786.05, h

US stocks were mixed to lower in a volatile session on Tuesday on uncertainty over a financial bailout for Spain and as investors worried about disappointing third-quarter US earnings. The Dow was pressured by stocks closely tied to the pace of growth, in

Wall Street started a new quarter with a modest rally on Monday, lifted by a surprising expansion in US manufacturing in September. After rising more than 1 percent by midday, the major US stock indexes came off their highs, with the Nasdaq the hardest-hi

Most Southeast Asian stock markets closed higher on Tuesday, with the Thai main index touching its highest in more than 16 years and most others hitting multi-week highs amid selective buying in regional bluechips. However, broad buying interest remained

US Treasuries ended the first day of the fourth quarter slightly higher on Monday after an earlier selloff caused by strong US manufacturing data ebbed and as stocks also gave up gains. The government debt showed little reaction after Federal Reserve Chai

US Treasuries ended the first day of the fourth quarter slightly higher on Monday after an earlier selloff caused by strong US manufacturing data ebbed and as stocks also gave up gains. The government debt showed little reaction after Federal Reserve Chai

Taiwan stocks closed up 0.56 percent on Tuesday, joining other Asian bourses in gains, with HTC Corp and Mediatek, the top two most-traded stocks in the session, up 1.55 percent and 3.04 percent respectively. The main TAIEX index rose 42.96 points to 7,71

The Abu Dhabi index hit a 14-month high on Tuesday, lifted by real estate stocks which gained on the prospect of consolidation in the struggling sector. Aldar Properties and Sorouh Real Estate were the main drivers, together accounting for nearly 75 perce

European shares fell on Tuesday after concerns over the hit to earnings from weakening global growth weighed on sentiment and set up a test of chart support on a leading regional index. Those doubts have deterred many investors from extending the recent t

Australian shares rallied 1 percent on Tuesday to their highest close in five months after the central bank cut its main cash rate in a bid to bolster growth in the face of weak commodity prices and global uncertainty. The Reserve Bank of Australia cut in

On an otherwise flat day on the South Korean share market, Samsung Electronics Co Ltd gained 1.71 percent to register its highest close in nearly five months, thanks to buying ahead of quarterly results due later this week and a favourable US court ruling

Britain's top share index continued its choppy trend and was pulled marginally lower on Tuesday, as weakness in banks and miners overpowered results-related gains for companies such as Babcock and Tesco. The UK's FTSE 100 closed down 11.00 points, or 0.2

The Australian dollar slipped to one-month lows on Tuesday after the Reserve Bank of Australia (RBA) cut rates to a three-year trough of 3.25 percent and left the door ajar for more easing. The Australian dollar skidded 0.6 percent to $1.0295, its lowest

The euro edged higher and held above a three-week low against the dollar on Tuesday, but its outlook was clouded by concerns over Spain's fiscal woes and uncertainty over the timing of a possible aid request by Madrid. The single currency was helped by da

The euro edged higher on Tuesday, pulling away from recent three-week lows against the dollar on growing signs that Spain is ready to seek a bailout. But uncertainty over the timing of the request kept investors on edge with many selling the euro at highe

The euro gained for a second straight session against the dollar on Tuesday, pulling further away from recent three-week lows, on growing expectations the euro zone's fourth-largest economy Spain is ready to seek a bailout. The euro was last 0.5 percent h

The US dollar fell from a three-week high against major currencies but the yen weakened on Monday after a report of a rise in US manufacturing activity prompted a sell-off in safe-haven currencies. The US manufacturing sector in September grew for the fir

Interbank buy/sell rates for the taka against the dollar on Tuesday. 81.50-81.59 (previous 81.55-81.67). Call Money Rates: 08.50-08.50 percent (previous 06.00-9.50 percent).

Most emerging Asian currencies rose on Tuesday as a surprising expansion in US factory activity spurred investors to add risky assets, although sustained worries about the slowing global economy limited the gains. The Taiwan dollar enjoyed foreign financi

Sterling fell to its lowest in nearly two weeks against the euro on Tuesday, as softer-than-expected construction data highlighted the fragility of the UK economy while signs that Spain is ready to seek a bailout lifted the single currency. The euro exten

A Briton on Tuesday pleaded guilty to stealing tickets for a crunch World Twenty20 cricket match between hosts Sri Lanka and defending champions England. Police said Caesar Buller, 54, had gone to a sales booth in the capital Colombo on Sunday and pockete

England captain Stuart Broad has admitted his inexperienced team was "not good enough" after the defending champions crashed out of the World Twenty20. England's 19-run defeat against Sri Lanka in Pallekele on Monday was their second loss in three Super E

Novak Djokovic made a rusty return to action at the China Open Tuesday, as second seed David Ferrer retired with illness and women's world number one Victoria Azarenka stormed into the third round. The Serbian world number two, playing his first match sin

England coach Andy Flower said he expects an announcement on Kevin Pietersen's future with the side before Thursday as he hoped for a positive resolution to the saga. The star batsman was cast into international exile in August after sending text messages

Pakistan recorded a shock 32-run win over Australia on Tuesday, who reached the last four regardless courtesy of their net run rate. Pakistan made 149-6 after being sent in to bat in the group two Super Eights match at the Premadasa stadium, before a five

Former German captain Michael Ballack announced his retirement on Tuesday bringing the curtain down on a stellar career. Having turned 36 at the end of last month, Ballack has been without a team after his two-year deal at Bundesliga side Bayer Leverkusen

Former champions India beat South Africa by one run Tuesday but still crashed out of the World Twenty20 as Pakistan went through to the semi-finals by virtue of a higher run rate. Pakistan will meet host Sri Lanka in the first semi-final in Colombo on Thu

Former champions India beat South Africa by one run Tuesday but still crashed out of the World Twenty20 as Pakistan went through to the semi-finals by virtue of a higher run rate. Pakistan will meet host Sri Lanka in the first semi-final in Colombo on Thu

French prosecutors Tuesday dropped a probe into whether former IMF chief Dominique Strauss-Kahn took part in a gang rape in the United States, but kept open another one into alleged pimping. Strauss-Kahn had denied any criminal wrongdoing in the incidents

Baghdad on Tuesday moved to end Turkey's military presence in north Iraq where Ankara is pursuing Kurdish rebels, signalling a further deterioration in ties between the neighbours. Turkey has since the 1990s maintained several military bases in the autono

Georgia's President Mikheil Saakashvili on Tuesday conceded defeat in parliamentary elections to a coalition led by a tycoon promising to ease tensions with Moscow, four years after the staunch US ally lost a war with Russia. Russian Prime Minister Dmitry

An Indian cabinet minister landed himself in hot water Tuesday after claiming that wives lose their appeal with age. Speaking at a Hindi-language poetry meeting in the northern city of Kanpur on Monday night, Coal Minister Sriprakash Jaiswal had said: "An

Chinese government ships returned to waters off disputed Japanese-controlled islands Tuesday, the coastguard said, a week after they last left and days after heated exchanges at the United Nations. Four maritime surveillance ships entered the waters short

Pope Benedict XVI's former butler Paolo Gabriele testified at his Vatican trial Tuesday that he was innocent of a theft charge but guilty of abusing the trust of a pope whom he loved like a father. Gabriele took the stand at his historic trial for stealin

The leader of Britain's main opposition Labour party, Ed Miliband, stated his intention on Tuesday to "rebuild Britain as one nation" as he sought to raise his own personal profile. The "one nation" slogan is traditionally used by Prime Minister David Cam

Gunmen massacred at least 26 people in a student housing area of north-east Nigeria on Tuesday, calling victims out by name before shooting them or slitting their throats, officials said. The attack occurred in the early hours in the town of Mubi, where t

African Union troops and tanks occupied al Shabaab's former stronghold of Kismayu on Tuesday, but the Somali Islamist militants gave notice of their intention to fight back, saying they detonated a bomb in the port city. The blast points to the al Qaeda-l

Iran's President Mahmoud Ahmadinejad on Tuesday warned that hostilities in Syria could engulf the region and accused some Syrians of trying to use their country's conflict to settle scores with Tehran. In comments to Al Jazeera television, Ahmadinejad sai

Russia told Nato and world powers on Tuesday they should not seek ways to intervene in Syria's civil war or set up buffer zones between rebels and government forces. Moscow further called for restraint between Nato-member Turkey and Syria, where violence

A bus-sized craft that had delivered food to the International Space Station will re-enter Earth's atmosphere overnight for a controlled implosion over the South Pacific, the European Space Agency said Tuesday. The automated transfer vehicle (ATV) undocke

Radical Islamist preacher Abu Hamza's health has deteriorated, the High Court in London heard on Tuesday, as he made a last-ditch legal bid to halt his extradition from Britain to the United States. The Egyptian-born cleric with a hook for a hand, and fou

On conclusion of the annual election process for 2012-13 of All Pakistan Textile Processing Mills Association (APTPMA), Mian Ajmal Farooq was elected Chairman, while Rizwan Ashraf, Zulfiqar Ali Chaudhary and Rao Abdul Basit were elected Vice Chairmen from

The National Assembly and Senate Secretariats have categorically stated that there is no provision under the rules of business to take fresh declaration oath from parliamentarians, informed sources revealed to this correspondent.

The National Assembly and Senate Secretariats have categorically stated that there is no provision under the rules of business to take fresh declaration oath from parliamentarians, informed sources revealed to this correspondent.

Interior Minister Rehman Malik on Tuesday denied ganting blanket approval to foreign journalists and peace activists to attend the Pakistan Tehreek-e-Insaf (PTI) peace rally to South Waziristan Agnecy. When asked by Business Recorder, the Federal Interior

Interior Minister Rehman Malik on Tuesday said that government will leave no stone unturned for the arrest of the senior journalist Abdul Haq Baloch's killers and would constitute a judicial commission to probe the murder. Talking to journalists at Nation

Trading Corporation of Pakistan (TCP) will be given immediate instructions to start procurement of one million bales of cotton from farmers, said Deputy Prime Minister and PML-Q leader Chaudhry Parvez Elahi. He said this while talking to a delegation of P

Reposing their overwhelming confidence over the educational model of the Punjab Education Foundation (PEF) for being cost effective, result oriented and efficient various developing Asian countries have contemplated to introduce PEF model of public-privat

The State Bank of Pakistan has granted approval for the extension of Mohammad Usman Ali Usmani's term as Chief Executive Officer till December 21, 2012 subject to compliance with applicable law, rules and regulations.

The Lahore High Court on Tuesday directed TMO Gulberg to produce the approved plan of wall to be constructed around Pakistan Cricket Board (PCB) office till October 22, which demolished by the city district government officials. On Tuesday, the PCB counse

Federal Minister for Information Qamar Zaman Kaira has said that the Frontier Corps (FC) can only be withdrawn from Balochistan if Nawaz takes the responsibility of the situation. He was talking to media at the Allama Iqbal International Airport on Tuesda

Federal Ministers Khurshid Ahmed Shah said that Pakistan People's Party (PPP) always respected the judiciary and accepted its decisions with open heart. He was talking to media persons after appearing on Tuesday in Hajj quota case pending before the Lahor

A delegation from Fata headed by Pakistan Muslim League (Q) Fata Senior Vice-President and Central Co-ordinator Ajmal Khan Wazir called on PML President Senator Chaudhry Shujaat Hussain at his residence here Tuesday. Talking to the delegation, Chaudhry Sh

Lahore Development Authority (LDA) has on Tuesday carried transfer and postings of its officials. According to a notification, Muhammad Imran, Assistant Director (Law), working in Directorate of Land Development-I, LDA, has been transferred and posted as

The new local bodies' law introduced in the province includes the good points of the 1979 and 2001 systems. This was stated by the Governor of Sindh, Dr Ishrat ul Ebad Khan, here on Tuesday. He was talking to the participants of the 97th National Manageme

According to a recent survey conducted by the International Republican Institute (IRI), around 74 percent Pakistanis seem dissatisfied with the on-going economic situation in the country. In the IRI survey, 74 percent say their economic situation has wors

Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) has elected Munir Karim Bana, Chief Executive of Loads Limited, as its new Chairman and Usman Aslam Malik as Vice Chairman for the year 2012-13. The Chief election commission

"So the Sindh local government ordinance bill is passed."

Cotton prices ended higher on Monday on technical buying after testing the 70-cent mark, with traders expecting renewed pressure ahead of the US harvest. "This was consolidation trading. It found support at 70 cents," said John Flanagan, an analyst at Fla

Copper crept higher on Tuesday for a fourth day of gains as the dollar fell and funds bought, but the upside was capped by Europe's debt crisis and uncertainty ahead of key data. With markets in China, the world's largest consumer of copper, closed for a

Oil prices fell in choppy, light trading Tuesday, pressured by the outlook for weak economic growth and petroleum demand, even as the risk of potential crude supply disruptions limited losses. Global economic growth has slowed this year, curbing fuel dema

Tokyo rubber futures jumped to 4-month high on Tuesday, buoyed by positive US manufacturing data which investors said boded well for future demand. The benchmark rubber contract on the Tokyo Commodity Exchange for March delivery rose 9.9 yen to settle at

Tuesday's Rotterdam vegetable oil prices at 1600 GMT.

Tuesday's Rotterdam vegetable oil prices at 1600 GMT.

US soyabean futures tumbled more than 2.5 percent on Monday, reversing similar gains from the previous session, as a record-fast harvest pace and reports of larger-than-expected yields pressured prices. Wheat futures dropped 2 percent, the fifth decline i

Malaysian palm oil futures dived to their lowest in more than three years on Tuesday, as slowing demand from Asia coincided with a drop in the edible oil's appeal as a substitute for soy oil, with the US soybean harvest progressing at a record pace.

Arabica coffee futures soared nearly 4 percent to a 10-week high on Tuesday, on heavy short-covering prompted by concerns of dry weather in top grower Brazil, while raw sugar extended the previous session's steep gains. Cocoa futures turned higher after f

Gold rallied to a near one-year high on Monday with traders and analysts citing both fund buying and possible central bank demand as markets opened a new quarter against the backdrop of a weak dollar. The spot price of bullion peaked above the $1,790 an o

Gold inched up on Tuesday, crawling back towards an 11-month high hit in the previous session, supported by a slightly weaker dollar and investor hopes for further central bank action to battle the grim outlook for global economic growth.

Gold was broadly steady on Tuesday, a day after touching its highest level of the year, helped by a stronger euro and by caution ahead of the release of US employment data this week. Spot gold was up 0.1 percent at $1,776.49 an ounce by 1500 GMT. It hit a

US soyabean futures fell for a second straight day on Tuesday, sliding more than 1 percent to a three-month low as the record-fast US harvest and better-than-expected yields weighed down prices along with spillover pressure from plunging palm oil prices.

Spot gold edged up Tuesday as the market consolidated gains a day after hitting a 2012 high and ahead of the all-important September US nonfarm payrolls data due later this week. Platinum group metals also climbed as the largest US automaker General Motor

"The ECC sub-committee has made a mockery of the consultative process by flouting the agreement regarding duties on Completely Built Unit (CBU) and Completely Knocked Down (CKD) import for motorcycles while forwarding recommendations to ECC," the Director

Pakistan Steel Mills (PSM) has been awarded the ISO-14001:2004 certification by implementing the international standard for Environmental Management System. The certificate was awarded by Royal Cert International Registrar, Pakistan after performing a thr

Pakistan Steel Mills (PSM) has been awarded the ISO-14001:2004 certification by implementing the international standard for Environmental Management System. The certificate was awarded by Royal Cert International Registrar, Pakistan after performing a thr

Speaker, Provincial Assembly Sindh, Nisar Ahmed Khuhro has nominated Mrs Firdous Hameed Alias Farheen Mughul, MPA, as member of the Syndicate, University of Sindh, Jamshoro. In this regard a notification has been issued by the Registrar, University of Sin

Containers remained stuck on Sunday at Port Qasim (QICT) as these could not be examined due to non-availability of custom officers for assessment. Pakistan Bedwear Exporters Association (PBEA) former chairman Shabir Ahmed in a letter sent on October 1, to

Soaring prices of top quality tea, particularly Kenyan brands, are giving rise to import of low-quality tea in the country and traders feared that the trend may risk the market pricing mechanism. Talking to Business Recorder, a tea import, Abdul Hakeem fe

World's most prestigious business school in the United States of America, Harvard Business School (HBS) has selected a Pakistani company, K&N's, as a case study. HBS faculty members select companies from around the world for a written account of a company

The board of directors of DG Khan Cement Company Limited has recommended equity investment up to Rs 500 million in Nishat Dairy (Private) Limited, an associated company, subject to approval of the shareholders. This recommendation was made in the DGKC boa

The board of directors of DG Khan Cement Company Limited has recommended equity investment up to Rs 500 million in Nishat Dairy (Private) Limited, an associated company, subject to approval of the shareholders. This recommendation was made in the DGKC boa

The profit after taxation of Treet Corporation Limited has increased to Rs 309.988 million in the year ended June 30, 2012 (FY12) as compared to Rs 290.118 million earned in the corresponding period in FY11. The company's earning per share increased to Rs

The profit after taxation of Treet Corporation Limited has increased to Rs 309.988 million in the year ended June 30, 2012 (FY12) as compared to Rs 290.118 million earned in the corresponding period in FY11. The company's earning per share increased to Rs

The National Database and Registration Authority (NADRA) has crossed yet another key milestone as it announced the formal launch of National Cash Remittance Programme to facilitate overseas Pakistanis in disbursing foreign remittances/cash to their loved

The exporters are not getting the benefit of 1.5 percent reduction in Export Refinance Rate announced by SBP on September 10, 2012. According to Fawad Ijaz Khan Patron-in-Chief of Pakistan Leather Garments Manufacturers & Exporters Association (PLGMEA), S

Pakistan Yarn Merchants Association (PYMA) has elected Pervez Khalid Sheikh as its central chairman for the period 2012-13. The association announced results of its annual elections 2012-13 to elect office bearers and members central executive committee a

Mehtabuddin Chawla was elected as Chairman and Ali Raza and Sanaullah Dogar as Vice-Chairman of Towel Manufacturers' Association of Pakistan at its 44th Annual General Meeting held here on September 29. Others elected as members include: Feroze Alam Lari,

Paksea has elected Rafiq Habib Godil as its Chairman and Aitazaz Ahmed Japanwala as Vice Chairman for the term 2012-13. According to the Association, Shahzad Azam Khan was elected as Zonal Chairman (Lahore) and Kamran Chandna as Ex-Officio during the annu