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Print - 2013-04-02
Index hits record high

Index hits record high

Karachi Stock Exchange (KSE) Monday set a fresh record on the first day of new week as the benchmark-100 share index hit all-time high level of 18,272.11, gaining 228.80 points or 1.27 percent. Commenting on the market performance, Zafar Moti, senior memb
Published 02 Apr, 2013 12:00am
Index hits record high

Index hits record high

Karachi Stock Exchange (KSE) Monday set a fresh record on the first day of new week as the benchmark-100 share index hit all-time high level of 18,272.11, gaining 228.80 points or 1.27 percent. Commenting on the market performance, Zafar Moti, senior memb
Published 02 Apr, 2013 12:00am
Index hits record high

Index hits record high

Karachi Stock Exchange (KSE) Monday set a fresh record on the first day of new week as the benchmark-100 share index hit all-time high level of 18,272.11, gaining 228.80 points or 1.27 percent. Commenting on the market performance, Zafar Moti, senior memb
Published 02 Apr, 2013 12:00am
Novartis loses landmark India cancer drug patent case

Novartis loses landmark India cancer drug patent case

India''s top court dismissed Swiss drugmaker Novartis AG''s attempt to win patent protection for its cancer drug Glivec, a blow to Western pharmaceutical firms targeting India to drive sales and a victory for local makers of cheap generics.
Published 02 Apr, 2013 12:00am
Novartis loses landmark India cancer drug patent case

Novartis loses landmark India cancer drug patent case

India's top court dismissed Swiss drugmaker Novartis AG's attempt to win patent protection for its cancer drug Glivec, a blow to Western pharmaceutical firms targeting India to drive sales and a victory for local makers of cheap generics.
Published 02 Apr, 2013 12:00am
Novartis loses landmark India cancer drug patent case

Novartis loses landmark India cancer drug patent case

India's top court dismissed Swiss drugmaker Novartis AG's attempt to win patent protection for its cancer drug Glivec, a blow to Western pharmaceutical firms targeting India to drive sales and a victory for local makers of cheap generics.
Published 02 Apr, 2013 12:00am
Lal Masjid: Supreme Court urged to record Musharraf's statement

Lal Masjid: Supreme Court urged to record Musharraf's statement

The Supreme Court on Monday said it would decide whether or not it should make the Lal Masjid Commission's report public. It made these observations after it briefly examined the contents of this report. A three-member bench led by Chief Justice Iftikhar
Published 02 Apr, 2013 12:00am
Lal Masjid: Supreme Court urged to record Musharraf's statement

Lal Masjid: Supreme Court urged to record Musharraf's statement

The Supreme Court on Monday said it would decide whether or not it should make the Lal Masjid Commission's report public. It made these observations after it briefly examined the contents of this report. A three-member bench led by Chief Justice Iftikhar
Published 02 Apr, 2013 12:00am
Power tariff may go up by over Rs 4 per unit

Power tariff may go up by over Rs 4 per unit

The government is likely to increase power tariff by over Rs 4 per unit across-the-board after National Electric Power Regulatory Authority (Nepra) allowed hike in tariff to Islamabad Electric Supply Company (Iesco). "If the caretaker government does not
Published 02 Apr, 2013 12:00am
Power tariff may go up by over Rs 4 per unit

Power tariff may go up by over Rs 4 per unit

The government is likely to increase power tariff by over Rs 4 per unit across-the-board after National Electric Power Regulatory Authority (Nepra) allowed hike in tariff to Islamabad Electric Supply Company (Iesco). "If the caretaker government does not
Published 02 Apr, 2013 12:00am
Power tariff may go up by over Rs 4 per unit

Power tariff may go up by over Rs 4 per unit

The government is likely to increase power tariff by over Rs 4 per unit across-the-board after National Electric Power Regulatory Authority (Nepra) allowed hike in tariff to Islamabad Electric Supply Company (Iesco). "If the caretaker government does not
Published 02 Apr, 2013 12:00am
Ministry fails to resolve payment issues of IPPs

Ministry fails to resolve payment issues of IPPs

Ministry of Water and Power has reportedly failed to resolve outstanding payment issues of Independent Power Producers (IPPs) due to financial constraints, well informed sources told Business Recorder. The sources said, 235 MW TNB Liberty Power Lim
Published 02 Apr, 2013 12:00am
Ministry fails to resolve payment issues of IPPs

Ministry fails to resolve payment issues of IPPs

Ministry of Water and Power has reportedly failed to resolve outstanding payment issues of Independent Power Producers (IPPs) due to financial constraints, well informed sources told Business Recorder. The sources said, 235 MW TNB Liberty Power Lim
Published 02 Apr, 2013 12:00am
Ministry fails to resolve payment issues of IPPs

Ministry fails to resolve payment issues of IPPs

Ministry of Water and Power has reportedly failed to resolve outstanding payment issues of Independent Power Producers (IPPs) due to financial constraints, well informed sources told Business Recorder. The sources said, 235 MW TNB Liberty Power Lim
Published 02 Apr, 2013 12:00am
Furnace oil import: MoF unable to release Rs 57 billion

Furnace oil import: MoF unable to release Rs 57 billion

The Finance Ministry has reportedly expressed its inability to releases Rs 57 billion for import of furnace oil after the total subsidy for the power sector exceeded Rs 267 billion during the first nine months of the current fiscal year against a total re
Published 02 Apr, 2013 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (April 01, 2013).
Published 02 Apr, 2013 12:00am
Furnace oil import: MoF unable to release Rs 57 billion

Furnace oil import: MoF unable to release Rs 57 billion

The Finance Ministry has reportedly expressed its inability to releases Rs 57 billion for import of furnace oil after the total subsidy for the power sector exceeded Rs 267 billion during the first nine months of the current fiscal year against a total re
Published 02 Apr, 2013 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (April 01, 2013).

Published 02 Apr, 2013 12:00am
Furnace oil import: MoF unable to release Rs 57 billion

Furnace oil import: MoF unable to release Rs 57 billion

The Finance Ministry has reportedly expressed its inability to releases Rs 57 billion for import of furnace oil after the total subsidy for the power sector exceeded Rs 267 billion during the first nine months of the current fiscal year against a total re
Published 02 Apr, 2013 12:00am
Smuggled vehicles: April 6 new time limit

Smuggled vehicles: April 6 new time limit

The Federal Board of Revenue (FBR) has extended amnesty scheme up to April 6 this year for legalising non-duty paid smuggled vehicles in view of the ''healthy response'' at the national level. Sources told Business Recorder here on Monday that the
Published 02 Apr, 2013 12:00am
Smuggled vehicles: April 6 new time limit

Smuggled vehicles: April 6 new time limit

The Federal Board of Revenue (FBR) has extended amnesty scheme up to April 6 this year for legalising non-duty paid smuggled vehicles in view of the 'healthy response' at the national level. Sources told Business Recorder here on Monday that the Pr
Published 02 Apr, 2013 12:00am
Smuggled vehicles: April 6 new time limit

Smuggled vehicles: April 6 new time limit

The Federal Board of Revenue (FBR) has extended amnesty scheme up to April 6 this year for legalising non-duty paid smuggled vehicles in view of the 'healthy response' at the national level. Sources told Business Recorder here on Monday that the Pr
Published 02 Apr, 2013 12:00am
Textile sector: amnesty scheme deadline extended

Textile sector: amnesty scheme deadline extended

Following an encouraging response from textile sector, which deposited over Rs 3 billion to clear their past sales tax liabilities, the Federal Board of Revenue (FBR) has extended the amnesty scheme up to April 15, 2013. Sources told Business Recorder
Published 02 Apr, 2013 12:00am
Textile sector: amnesty scheme deadline extended

Textile sector: amnesty scheme deadline extended

Following an encouraging response from textile sector, which deposited over Rs 3 billion to clear their past sales tax liabilities, the Federal Board of Revenue (FBR) has extended the amnesty scheme up to April 15, 2013. Sources told Business Recorder
Published 02 Apr, 2013 12:00am
Textile sector: amnesty scheme deadline extended

Textile sector: amnesty scheme deadline extended

Following an encouraging response from textile sector, which deposited over Rs 3 billion to clear their past sales tax liabilities, the Federal Board of Revenue (FBR) has extended the amnesty scheme up to April 15, 2013. Sources told Business Recorder
Published 02 Apr, 2013 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (April 01, 2013).

Published 02 Apr, 2013 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (April 01, 2013).
Published 02 Apr, 2013 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Monday (April 01, 2013).

Published 02 Apr, 2013 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (April 01, 2013).

Published 02 Apr, 2013 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Monday (April 01, 2013).

Published 02 Apr, 2013 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (April 01, 2013).

Published 02 Apr, 2013 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 02 Apr, 2013 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 02 Apr, 2013 12:00am
New York cotton

New York cotton

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

Published 02 Apr, 2013 12:00am
New York cotton

New York cotton

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

Published 02 Apr, 2013 12:00am
Oil cake market rates

Oil cake market rates

The May vaida maintained its upward trend and the July vaida was unchanged on the forward cottonseeds oilcake market on Monday, dealers said. The May vaida ended at Rs 910.6, it opened with 20 paisa gain at Rs 910.8 in the morning session, dealers said. T
Published 02 Apr, 2013 12:00am
Cotton market: prices fall on slower demand

Cotton market: prices fall on slower demand

Prices drifted lower on the cotton market on Monday as main participants were on the sidelines, hoping for a further decline in the rates, dealers said. The official spot rate was unchanged at Rs 6,900, they said. Rates of seed cotton in Sindh were unchan
Published 02 Apr, 2013 12:00am
A few changes on grain market

A few changes on grain market

Small business was seen on the wholesale grain market on Monday due to lack of buying interest mainly because of higher rates, dealers said.
Published 02 Apr, 2013 12:00am
US Plains: HRW wheat bids steady

US Plains: HRW wheat bids steady

Spot basis bids for hard red winter wheat were steady in the US Plains and Gulf export markets on Monday in thin dealings, grain merchants said. Kansas City Board of Trade May wheat futures' most recent close was $7.26-3/4 per bushel. Egypt expects its do
Published 02 Apr, 2013 12:00am
Indian coffee prices steady

Indian coffee prices steady

Indian coffee prices were steady at an auction conducted last week as activity was limited due to financial year-end. Only 32,000 kilograms were sold out of the 197,477 kilograms offered for sale. Of the total offer, arabica coffee constituted 93,178 kilo
Published 02 Apr, 2013 12:00am
Warm April to favour Russia's grain sowing campaign

Warm April to favour Russia's grain sowing campaign

Warm and dry weather during April will favour a spring grain sowing campaign in Russia, bringing some relief after heavy snowfall, data from the state forecaster showed on Monday. Russia lost a quarter of its grain harvest due to drought last year and nee
Published 02 Apr, 2013 12:00am
Vietnam to sell 300,000 tonnes of rice to Guinea by 2015

Vietnam to sell 300,000 tonnes of rice to Guinea by 2015

Vietnam, the world's second-largest rice exporter, plans to sell 300,000 tonnes of rice annually to Guinea between now and 2015, a state-run newspaper said on Monday. The countries recently signed a memorandum of understanding on the three-year supply dea
Published 02 Apr, 2013 12:00am
Indian oilseeds, soyaoil fall to one-week low

Indian oilseeds, soyaoil fall to one-week low

Indian oilseeds and soyaoil futures eased to their lowest level in a week weighed by weak global leads, and on expectations of higher arrivals of rapeseed in the peak season period. The benchmark Malaysian palm oil contract was down 1.35 percent at 2,346
Published 02 Apr, 2013 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 273,511 tonnes of cargo comprising 195,139 tonnes of import cargo and 78,372 tonnes of export cargo including 3,874 loaded and empty containers during the last 48 hours ended at 0700 hours on Monday. The total import cargo of 195,
Published 02 Apr, 2013 12:00am
Japan's mini-car sales jump to record high

Japan's mini-car sales jump to record high

Sales in Japan of 660 cc passenger mini-cars jumped to a record high in the last financial year, signalling structural change in a market where family size is shrinking and buyers are shifting to smaller cars. Buyers and owners pay less tax for mini-vehic
Published 02 Apr, 2013 12:00am
Sanctions push Iran's inflation above 30 percent

Sanctions push Iran's inflation above 30 percent

Iran's inflation rate has climbed above 30 percent under the impact of international economic sanctions, according to figures released by the government's statistics centre. The rate reached 31.5 percent in the 12 months to March 20, which was the end of
Published 02 Apr, 2013 12:00am
Armenian national airline declares bankruptcy

Armenian national airline declares bankruptcy

Armenia's last national airline, Armavia, on Monday ceased operations and launched bankruptcy procedures due to grave financial problems, the company said. "Over the last three years, the owner of Armavia airline has been investing finances from (his) oth
Published 02 Apr, 2013 12:00am
Taiwan to allow China firms to buy bigger stakes in local banks

Taiwan to allow China firms to buy bigger stakes in local banks

Taiwan will ease rules to allow Chinese banks to buy bigger stakes in local banks and permit more Chinese firms to invest in its financial industry, the island's financial regulator said on Monday, marking a major advance in cross-strait ties.
Published 02 Apr, 2013 12:00am
Panasonic investigated in US for alleged bribes

Panasonic investigated in US for alleged bribes

The US government is investigating whether a unit of Japanese electronics giant Panasonic Corporation paid bribes abroad to ease business deals, The Wall Street Journal reported Monday. Citing company documents, the paper said the probe is focused on Pana
Published 02 Apr, 2013 12:00am
Chinese factories rise

Chinese factories rise

Strong demand at home boosted activity at Chinese factories last month, but US manufacturing hit an unexpected speed bump after expanding rapidly in February, weakened by a slower pace of new orders. Other surveys released on Monday showed manufacturing s
Published 02 Apr, 2013 12:00am
BRICS bank to complement, not compete with ADB: India

BRICS bank to complement, not compete with ADB: India

The mooted BRICS bank of emerging powers is intended to complement, rather than compete with Western-dominated institutions on the world stage, the Indian Finance Minister said Monday. Finance Minister P. Chidambaram also said India supports Japan's nomin
Published 02 Apr, 2013 12:00am
Egypt to reintroduce deposit operations, cancels repos

Egypt to reintroduce deposit operations, cancels repos

Egypt's central bank said on Monday it intended to reintroduce deposit operations as a way to absorb excess liquidity, starting on Tuesday, in a monetary tightening move that economists said could help fight inflation and support a weakening currency. The
Published 02 Apr, 2013 12:00am
Cyprus plans tax breaks, casinos to kickstart economy

Cyprus plans tax breaks, casinos to kickstart economy

Cyprus plans to lift a ban on casinos and offer firms tax exemptions on profits reinvested on the island under a package of reforms to kickstart its ailing economy, its president said on Monday. The country's euro zone partners agreed on a 10 billion euro
Published 02 Apr, 2013 12:00am
Turkish 2012 growth disappoints but recovery seen near

Turkish 2012 growth disappoints but recovery seen near

Turkey's economy grew less than expected last year as domestic demand slumped, data showed on Monday, but manufacturing expanded for the seventh month in a row in March, suggesting a recovery is around the corner. Gross domestic product (GDP) grew 1.4 per
Published 02 Apr, 2013 12:00am
Cooling factory activity hints at slowing US economy

Cooling factory activity hints at slowing US economy

US factory activity grew at the slowest rate in three months in March, suggesting the economy lost some momentum at the end of the first quarter as the effects of tighter fiscal policy started kicking in. Data so far had shown little sign that higher taxe
Published 02 Apr, 2013 12:00am
Nikkei falls to three-week low on profit-taking

Nikkei falls to three-week low on profit-taking

Japan's Nikkei share average fell to a three-week low on Monday as investors took profits in stocks such as exporters and financials that had gained in recent weeks on the back of a weaker yen and prospects of monetary easing. All 33 subindexes were lower
Published 02 Apr, 2013 12:00am
Taiwan stocks slip

Taiwan stocks slip

Taiwan stocks ended 0.24 percent lower on Monday, with banks among the biggest losers as investors turned cautious ahead of a meeting between China and Taiwan regulators on further opening banking markets to each other. The main TAIEX index slipped 19.37
Published 02 Apr, 2013 12:00am
US funds cut back on stocks in March

US funds cut back on stocks in March

US institutional investors recommended reducing stocks holdings and increasing bond allocations in March even as the Dow Jones industrial average passed an all-time high, judging risks to this year's bullish run have grown. The average equity allocation i
Published 02 Apr, 2013 12:00am
Monday's early trade: S&P 500 and Dow coming off record closing highs

Monday's early trade: S&P 500 and Dow coming off record closing highs

US stocks declined on Monday after weaker-than-expected US manufacturing data gave investors reason to book profits after both the Dow and S&P 500 set record closing highs in the prior session. The Institute for Supply Management's March manufacturing rea
Published 02 Apr, 2013 12:00am
Indian shares gain; Novartis India falls

Indian shares gain; Novartis India falls

Indian shares edged higher in the first trading session of a new fiscal year, as Infosys gained on optimism about its fourth-quarter earnings, while Larsen & Toubro gained after winning a $1 billion power plant order. Although Monday marked the third cons
Published 02 Apr, 2013 12:00am
Chinese shares at lowest in 2013; property shines

Chinese shares at lowest in 2013; property shines

Chinese shares fell to their lowest since the start of the year on Monday after an official purchasing managers' survey showed a slower rebound in factory activity than expected, suggesting headwinds remain for the world's second largest economy. But prop
Published 02 Apr, 2013 12:00am
Most Southeast Asian stocks down; Vietnam bucks trend

Most Southeast Asian stocks down; Vietnam bucks trend

Southeast Asian stock markets ended mostly lower on Monday with Indonesia and the Philippines coming off record highs amid subdued trading in the region as some Asian markets were still closed for Easter holidays. After a choppy session, Jakarta's Composi
Published 02 Apr, 2013 12:00am
Seoul shares retreat

Seoul shares retreat

South Korean shares stepped back from a three-week high reached the previous session as China's factory data missed market expectations, while builders gained ground on stimulus policy hopes. Analysts were mixed about the outlook this week, as expectation
Published 02 Apr, 2013 12:00am
Won, rupiah lead Asian forex slides on trade, inflation data

Won, rupiah lead Asian forex slides on trade, inflation data

The South Korean won and the Indonesian rupiah fell on Monday, pressured by weak trade data, leading declines among emerging Asian currencies. The won slid as offshore funds sold the currency as disappointing export growth and a slower-than-expected rise
Published 02 Apr, 2013 12:00am
Midday trade in New York: dollar falls across the board

Midday trade in New York: dollar falls across the board

The dollar fell across the board on Monday, sliding to a nearly four-week low against the yen, as softer-than-expected US manufacturing data for March interrupted a run of generally upbeat economic reports. The yen, meanwhile, firmed on safe-haven flows f
Published 02 Apr, 2013 12:00am
Euro nears four-month low on fears over Cyprus fallout

Euro nears four-month low on fears over Cyprus fallout

The euro sagged on Monday to approach a four-month low on concerns about the spillover from Cyprus' bailout terms, while the Aussie dollar was tripped up after data showed a slower rebo.und in Chinese factory activity in March than expected. The yen firme
Published 02 Apr, 2013 12:00am
Indian markets closed

Indian markets closed

Indian debt and currency markets were remain closed on Monday for a banking holiday. The markets, which were closed on Friday as well, will resume trade on Tuesday. The partially convertible rupee ended at 54.28/29 per dollar versus its previous close of
Published 02 Apr, 2013 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 Monday. 78.10-78.11 (78.15-78.15). Call Money Rates: 06.75-07.00 percent (previous 05.25-07.50 percent).
Published 02 Apr, 2013 12:00am
Australia eyes simpler rules for retail bonds

Australia eyes simpler rules for retail bonds

Australia's government is proposing to simplify the sale of retail bonds in a move that could offer firms an alternative to bank funding and see a large increase in issuance. Among the new measures proposed by the Labour government, the most important one
Published 02 Apr, 2013 12:00am
Australia eyes simpler rules for retail bonds

Australia eyes simpler rules for retail bonds

Australia's government is proposing to simplify the sale of retail bonds in a move that could offer firms an alternative to bank funding and see a large increase in issuance. Among the new measures proposed by the Labour government, the most important one
Published 02 Apr, 2013 12:00am