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Nov 25, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2012-10-03
Oil cake market rates

Oil cake market rates

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
Published 03 Oct, 2012 12:00am
Cotton market: prices make further ground on strong demand

Cotton market: prices make further ground on strong demand

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
Published 03 Oct, 2012 12:00am
EU nuclear reactors need 10-25 billion euros safety spend

EU nuclear reactors need 10-25 billion euros safety spend

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
Published 03 Oct, 2012 12:00am
Germany's leading airport expands

Germany's leading airport expands

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
Published 03 Oct, 2012 12:00am
Iraq's central bank eases restrictions on dollar sales

Iraq's central bank eases restrictions on dollar sales

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
Published 03 Oct, 2012 12:00am
Euro star Slovenia becomes another trouble spot

Euro star Slovenia becomes another trouble spot

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
Published 03 Oct, 2012 12:00am
Russian inflation a concern, growth on track: Putin

Russian inflation a concern, growth on track: Putin

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
Published 03 Oct, 2012 12:00am
Iranian currency plunges again

Iranian currency plunges again

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
Published 03 Oct, 2012 12:00am
US auto sales post gains

US auto sales post gains

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
Published 03 Oct, 2012 12:00am
Rajoy says Spain won't request aid this weekend

Rajoy says Spain won't request aid this weekend

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
Published 03 Oct, 2012 12:00am
France, Germany clash over EADS-BAE Headquarters

France, Germany clash over EADS-BAE Headquarters

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
Published 03 Oct, 2012 12:00am
EU advisers want high-risk banking separated from retail

EU advisers want high-risk banking separated from retail

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.
Published 03 Oct, 2012 12:00am
Nikkei stays down

Nikkei stays down

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
Published 03 Oct, 2012 12:00am
Wall Street kicks off October with modest gains

Wall Street kicks off October with modest gains

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
Published 03 Oct, 2012 12:00am
Southeast Asian markets: Thai index hits over 16-year high

Southeast Asian markets: Thai index hits over 16-year high

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
Published 03 Oct, 2012 12:00am
Bond prices move up

Bond prices move up

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
Published 03 Oct, 2012 12:00am
Bond prices move up

Bond prices move up

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
Published 03 Oct, 2012 12:00am
Taiwan stocks up

Taiwan stocks up

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
Published 03 Oct, 2012 12:00am
Middle East markets: property stocks boost Abu Dhabi; Egypt down

Middle East markets: property stocks boost Abu Dhabi; Egypt down

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
Published 03 Oct, 2012 12:00am
Weak growth outlook drags on European shares

Weak growth outlook drags on European shares

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
Published 03 Oct, 2012 12:00am
Australian shares jump to five-month high

Australian shares jump to five-month high

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
Published 03 Oct, 2012 12:00am
Seoul shares flat; Samsung buoyed by US ruling

Seoul shares flat; Samsung buoyed by US ruling

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
Published 03 Oct, 2012 12:00am
Banks lead FTSE lower after UBS highlights capital concerns

Banks lead FTSE lower after UBS highlights capital concerns

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
Published 03 Oct, 2012 12:00am
Australian dollar skids to one-month low

Australian dollar skids to one-month low

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
Published 03 Oct, 2012 12:00am
Euro claws higher; Aussie falls in Asia

Euro claws higher; Aussie falls in Asia

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
Published 03 Oct, 2012 12:00am
Euro climbs in London

Euro climbs in London

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
Published 03 Oct, 2012 12:00am
Early trade in New York: Euro up for second day versus dollar

Early trade in New York: Euro up for second day versus dollar

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
Published 03 Oct, 2012 12:00am
Dollar, yen slide

Dollar, yen slide

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
Published 03 Oct, 2012 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

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).
Published 03 Oct, 2012 12:00am
Most emerging Asian currencies soar

Most emerging Asian currencies soar

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
Published 03 Oct, 2012 12:00am
Sterling drops versus euro

Sterling drops versus euro

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
Published 03 Oct, 2012 12:00am
Briton admits Twenty20 ticket theft in Sri Lanka

Briton admits Twenty20 ticket theft in Sri Lanka

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
Published 03 Oct, 2012 12:00am
England not good enough, says Broad

England not good enough, says Broad

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
Published 03 Oct, 2012 12:00am
Djokovic struggles to China win, Ferrer retires

Djokovic struggles to China win, Ferrer retires

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
Published 03 Oct, 2012 12:00am
Flower hopeful of swift Pietersen solution

Flower hopeful of swift Pietersen solution

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
Published 03 Oct, 2012 12:00am
Pakistan stun Australia

Pakistan stun Australia

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
Published 03 Oct, 2012 12:00am
Ballack announces retirement

Ballack announces retirement

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
Published 03 Oct, 2012 12:00am
Pakistan reach semis as India ousted

Pakistan reach semis as India ousted

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
Published 03 Oct, 2012 12:00am
Pakistan reach semis as India ousted

Pakistan reach semis as India ousted

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
Published 03 Oct, 2012 12:00am
French prosecutors drop Strauss-Kahn rape probe

French prosecutors drop Strauss-Kahn rape probe

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
Published 03 Oct, 2012 12:00am
Baghdad moves to end Turkish presence in north Iraq

Baghdad moves to end Turkish presence in north Iraq

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
Published 03 Oct, 2012 12:00am
Tycoon's alliance wins election in Georgia

Tycoon's alliance wins election in Georgia

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
Published 03 Oct, 2012 12:00am
Indian minister under fire over sexist remark

Indian minister under fire over sexist remark

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
Published 03 Oct, 2012 12:00am
Chinese government ships enter disputed waters: Japan

Chinese government ships enter disputed waters: Japan

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
Published 03 Oct, 2012 12:00am
Pope's butler says innocent of theft in leaks trial

Pope's butler says innocent of theft in leaks trial

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
Published 03 Oct, 2012 12:00am
British opposition leader steals 'one nation' pledge

British opposition leader steals 'one nation' pledge

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
Published 03 Oct, 2012 12:00am
Nigeria student massacre claims 26 lives

Nigeria student massacre claims 26 lives

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
Published 03 Oct, 2012 12:00am
Somali militants hit Kismayu as African troops move in

Somali militants hit Kismayu as African troops move in

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
Published 03 Oct, 2012 12:00am
Ahmadinejad says Syria crisis may engulf region

Ahmadinejad says Syria crisis may engulf region

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
Published 03 Oct, 2012 12:00am
Russia tells Nato to stay away from Syria

Russia tells Nato to stay away from Syria

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
Published 03 Oct, 2012 12:00am
Space freighter starts suicide plunge: ESA

Space freighter starts suicide plunge: ESA

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
Published 03 Oct, 2012 12:00am
Abu Hamza's health has worsened, British court hears

Abu Hamza's health has worsened, British court hears

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
Published 03 Oct, 2012 12:00am
Ajmal Farooq elected Chairman APTPMA

Ajmal Farooq elected Chairman APTPMA

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
Published 03 Oct, 2012 12:00am
'No provision to take fresh oath from lawmakers'

'No provision to take fresh oath from lawmakers'

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.
Published 03 Oct, 2012 12:00am
'No provision to take fresh oath from lawmakers'

'No provision to take fresh oath from lawmakers'

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.
Published 03 Oct, 2012 12:00am
TCP to procure one million cotton bales, assures Elahi

TCP to procure one million cotton bales, assures Elahi

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
Published 03 Oct, 2012 12:00am
PEF education voucher scheme biggest initiative in world: Anwar

PEF education voucher scheme biggest initiative in world: Anwar

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
Published 03 Oct, 2012 12:00am
Usmani's term as CEO extended

Usmani's term as CEO extended

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.
Published 03 Oct, 2012 12:00am
TMO Gulberg directed to produce PCB-wall plan

TMO Gulberg directed to produce PCB-wall plan

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
Published 03 Oct, 2012 12:00am
Hajj quota case: Khurshid assures LHC of enforcement

Hajj quota case: Khurshid assures LHC of enforcement

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
Published 03 Oct, 2012 12:00am
Fata team meets Shujaat

Fata team meets Shujaat

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
Published 03 Oct, 2012 12:00am
Transfers, postings in LDA

Transfers, postings in LDA

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
Published 03 Oct, 2012 12:00am
Ebad praises Sindh MPs for devising new LG system

Ebad praises Sindh MPs for devising new LG system

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
Published 03 Oct, 2012 12:00am
PAAPAM's new chairman elected

PAAPAM's new chairman elected

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
Published 03 Oct, 2012 12:00am
New York cotton surges after testing 70 cent mark

New York cotton surges after testing 70 cent mark

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
Published 03 Oct, 2012 12:00am
Copper edges up

Copper edges up

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
Published 03 Oct, 2012 12:00am
Oil prices fall

Oil prices fall

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
Published 03 Oct, 2012 12:00am
Tokyo rubber futures jump

Tokyo rubber futures jump

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
Published 03 Oct, 2012 12:00am
Soyabeans fall 2.5 percent

Soyabeans fall 2.5 percent

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
Published 03 Oct, 2012 12:00am
Palm oil falls to near three-year low

Palm oil falls to near three-year low

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.
Published 03 Oct, 2012 12:00am
Coffee vaults to 10-week high

Coffee vaults to 10-week high

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
Published 03 Oct, 2012 12:00am
Gold climbs in New York

Gold climbs in New York

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
Published 03 Oct, 2012 12:00am
Gold inches up in Asia

Gold inches up in Asia

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.
Published 03 Oct, 2012 12:00am
Gold broadly steadies in European trade

Gold broadly steadies in European trade

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
Published 03 Oct, 2012 12:00am
US MIDDAY: soya tumbles

US MIDDAY: soya tumbles

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.
Published 03 Oct, 2012 12:00am
US MIDDAY: gold hovers near 2012 high

US MIDDAY: gold hovers near 2012 high

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
Published 03 Oct, 2012 12:00am
'ECC panel on motorcycles flouts industry deals'

'ECC panel on motorcycles flouts industry deals'

"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
Published 03 Oct, 2012 12:00am
Pakistan Steel awarded ISO certification

Pakistan Steel awarded ISO certification

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
Published 03 Oct, 2012 12:00am
Pakistan Steel awarded ISO certification

Pakistan Steel awarded ISO certification

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
Published 03 Oct, 2012 12:00am
SU notification

SU notification

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
Published 03 Oct, 2012 12:00am
Containers stuck at PQ: PBEA requests FBR to take necessary action

Containers stuck at PQ: PBEA requests FBR to take necessary action

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
Published 03 Oct, 2012 12:00am
Traders accused of importing low quality tea

Traders accused of importing low quality tea

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
Published 03 Oct, 2012 12:00am
HBS selects K&N's for case study

HBS selects K&N's for case study

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
Published 03 Oct, 2012 12:00am
Equity investment in Nishat Dairy recommended

Equity investment in Nishat Dairy recommended

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
Published 03 Oct, 2012 12:00am
Equity investment in Nishat Dairy recommended

Equity investment in Nishat Dairy recommended

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
Published 03 Oct, 2012 12:00am
Treet Corporation's profit after tax increases to Rs 309.988 million

Treet Corporation's profit after tax increases to Rs 309.988 million

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
Published 03 Oct, 2012 12:00am
Treet Corporation's profit after tax increases to Rs 309.988 million

Treet Corporation's profit after tax increases to Rs 309.988 million

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
Published 03 Oct, 2012 12:00am
Cash remittance programme: NADRA announces formal launch

Cash remittance programme: NADRA announces formal launch

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
Published 03 Oct, 2012 12:00am
Export refinance: Exporters not getting benefit of rate cut: PLGMEA

Export refinance: Exporters not getting benefit of rate cut: PLGMEA

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
Published 03 Oct, 2012 12:00am
PYMA elects office-bearers

PYMA elects office-bearers

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
Published 03 Oct, 2012 12:00am
Chawla elected TMA Chairman

Chawla elected TMA Chairman

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,
Published 03 Oct, 2012 12:00am
Paksea elects Chairman, VC

Paksea elects Chairman, VC

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
Published 03 Oct, 2012 12:00am
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