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Print - 2013-05-07
ECP asks government to remove IESCO CEO

ECP asks government to remove IESCO CEO

The Election Commission of Pakistan (ECP) on Monday, while taking notice of a complaint, has written a letter to federal government for the removal of Chief Executive Officer (CEO) of Islamabad Electricity Supply Company (IESCO) Javed Pervez with immediat
Published 07 May, 2013 12:00am
ECP asks government to remove IESCO CEO

ECP asks government to remove IESCO CEO

The Election Commission of Pakistan (ECP) on Monday, while taking notice of a complaint, has written a letter to federal government for the removal of Chief Executive Officer (CEO) of Islamabad Electricity Supply Company (IESCO) Javed Pervez with immediat
Published 07 May, 2013 12:00am
Seven-time Italian Prime Minister Giulio Andreotti dies at 94

Seven-time Italian Prime Minister Giulio Andreotti dies at 94

Giulio Andreotti, a Machiavellian seven-time Italian prime minister who dominated the political scene for decades, died on Monday at the age of 94. Andreotti, a top figure in the once-dominant Christian Democratic party, died at his home in Rome. He had s
Published 07 May, 2013 12:00am
Seven-time Italian Prime Minister Giulio Andreotti dies at 94

Seven-time Italian Prime Minister Giulio Andreotti dies at 94

Giulio Andreotti, a Machiavellian seven-time Italian prime minister who dominated the political scene for decades, died on Monday at the age of 94. Andreotti, a top figure in the once-dominant Christian Democratic party, died at his home in Rome. He had s
Published 07 May, 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 (May 06, 2013).
Published 07 May, 2013 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (May 06, 2013).

Published 07 May, 2013 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (May 06, 2013).
Published 07 May, 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 (May 06, 2013).

Published 07 May, 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 (May 06, 2013).

Published 07 May, 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 (May 06, 2013).

Published 07 May, 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 (May 06, 2013).

Published 07 May, 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 07 May, 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 07 May, 2013 12:00am
New York cotton

New York cotton

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

Published 07 May, 2013 12:00am
New York cotton

New York cotton

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

Published 07 May, 2013 12:00am
Oil cake market rates

Oil cake market rates

Downward trend was seen on the forward cottonseeds oilcake market on Monday in process of trading, dealers said. The May vaida ended at Rs 908.90, they said. And it opened with a decline of 60 paisa at Rs 908.30 same rate, dealers said. The July contract
Published 07 May, 2013 12:00am
Spot rate falls amid lacklustre activity on cotton market

Spot rate falls amid lacklustre activity on cotton market

Spot rate was down modestly on the cotton market on Monday amid lacklustre trading, dealers said. The official spot rate was lower by Rs 6,450, they said. In the ready business, not a single deal was finalised due to less buying interest among traders, th
Published 07 May, 2013 12:00am
Easier trend on grain market

Easier trend on grain market

Slow trading was seen on the wholesale grain market on Monday in the process of slow business, dealers said. On the cereals side, Masoor Canada drifted lower by Rs 100 to Rs 7400-7500, other commodities showed no change due to balanced demand and supply,
Published 07 May, 2013 12:00am
HRW wheat bids steady

HRW wheat bids steady

Cash bids for hard red winter wheat were steady in the US Plains on Monday in a quiet market. Protein premiums for railcar wheat to and through Kansas City were unchanged. Kansas City Board of Trade July wheat settled most recently at $7.78.
Published 07 May, 2013 12:00am
France cuts estimate of rapeseed area

France cuts estimate of rapeseed area

The French farm ministry on Monday cut its estimate of the area sown with rapeseed for this year's harvest after farmers dug up some crops that had suffered from heavy rain. Analysts have been expecting the fall in area to cost France its place as the Eur
Published 07 May, 2013 12:00am
Indian sugar futures drop

Indian sugar futures drop

Indian sugar futures eased on Monday as surplus supplies from local production and imports offset an improvement in demand due to the summer season. The key June contract on India's National Commodity and Derivatives Exchange was down 0.34 percent at 2,96
Published 07 May, 2013 12:00am
Dry weather threatens Russian grain crop

Dry weather threatens Russian grain crop

Continued dry weather in Russia's southern crop growing regions could hurt grain production and yields, potentially dashing Russia's plans to return as a major wheat exporter this year, experts said on Monday. The state weather forecaster said no rain was
Published 07 May, 2013 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 103,959 tonnes of cargo comprising 65,654 tonnes of import cargo and 38,305 tonnes of export cargo including 6,966 loaded and empty containers during the last 24 hours ended at 0700 hours on Monday. The total import cargo comprise
Published 07 May, 2013 12:00am
Full-back Riise quits

Full-back Riise quits

Norway and Fulham full-back John Arne Riise announced his international retirement on Monday after a record 110 caps for his country. The former Liverpool, Roma and Monaco left-back's decision caused shock waves in his homeland as Norway are midway throug
Published 07 May, 2013 12:00am
Ribery eager to extend contract

Ribery eager to extend contract

France wing Franck Ribery has said he is eager to extend his Bayern Munich contract past 2015 having already spent nearly six years at the Champions League finalists. The 30-year-old joined Bayern in July 2007 from Marseille and has scored 51 goals, with
Published 07 May, 2013 12:00am
Juve triumph again, but Conte fears for Europe

Juve triumph again, but Conte fears for Europe

Juventus cemented a 29th title triumph on Sunday after another near flawless campaign, but for coach Antonio Conte hoisting the club back among the giants of European football will continue to be hampered by a cash-strapped Serie A. It was following Juve'
Published 07 May, 2013 12:00am
Playing outside home makes Pakistan a strong contender for CT: Hafeez

Playing outside home makes Pakistan a strong contender for CT: Hafeez

Vice-captain of Pakistan cricket team Mohammad Hafeez believe that the success rate of team over the last few years after being forced to play away from home, makes it a strong contender for the upcoming ICC Champions Trophy in England. Talking to private
Published 07 May, 2013 12:00am
Ajmal targets Gayle in Champions Trophy

Ajmal targets Gayle in Champions Trophy

Wily Pakistan off spinner Saeed Ajmal vowed Monday to target West Indian swashbuckler Chris Gayle when the two sides meet in the Champions Trophy next month. Pakistan is currently featuring in a tune-up camp in Abbottabad, a hilly town hoping to match con
Published 07 May, 2013 12:00am
Stephens blasts US Fed Cup team-mate Serena

Stephens blasts US Fed Cup team-mate Serena

Rising US star Sloane Stephens has slammed Serena Williams, describing her Fed Cup team-mate as a sore loser and saying she snubbed Stephens on Twitter after losing to her at the Aussie Open in January. In excerpts from an interview with ESPN Magazine, St
Published 07 May, 2013 12:00am
Silva dimissed as PSG held at home

Silva dimissed as PSG held at home

Ten-man Paris Saint-Germain blew a chance to effectively wrap up their first Ligue 1 title since 1994 on Sunday as they were held to a 1-1 draw at home to Valenciennes. Gael Danic put the visitors ahead on 17 minutes, while PSG captain Thiago Silva was sh
Published 07 May, 2013 12:00am
Electoral alliance concerned at growing incidents of 'fake' blasts

Electoral alliance concerned at growing incidents of 'fake' blasts

A 10-party alliance on Monday showed concerns over the growing number of "fake" blasts in the city, urging the interim government to step up efforts to ensure peace on polling day. The alliance showed distrust in Election Commission of Pakistan for not me
Published 07 May, 2013 12:00am
ST claims modalities: delay by FBR tantamount to maladministration: FTO

ST claims modalities: delay by FBR tantamount to maladministration: FTO

Inordinate delay on the part of the Federal Board of Revenue to devise modalities for settling sales tax adjustment claims of the taxpayers is tantamount to maladministration in terms of Section 2(3) of the FTO Ordinance, 2000, Federal Tax Ombudsman (FTO)
Published 07 May, 2013 12:00am
Former Pakistan leave: FBR directive to field formations

Former Pakistan leave: FBR directive to field formations

The Federal Board of Revenue has warned the tax officials that no ex-Pakistan leave request shall be processed in the Board unless it is forwarded through concerned Chief Collector, Chief Commissioner or Director General. In this regard, the FBR has issue
Published 07 May, 2013 12:00am
NA-252 & NA-253: JI seeks to pose stiff challenge to MQM

NA-252 & NA-253: JI seeks to pose stiff challenge to MQM

A tough fight is expected between the right and left wing ideological parties in middle class populated parts of city on NA-252 and NA-253, but public voting trend is still hinged on resolution of their growing civic, economic and security problems. A sti
Published 07 May, 2013 12:00am
GlaxoSmithKline Pakistan (GSK)

GlaxoSmithKline Pakistan (GSK)

With over a decade of operations and leadership, GSK is the largest pharmaceutical company in the country. GlobalSmithKline is a market leader in value. The company operates two industry segments within the pharmaceutical sector: Pharmaceuticals which inc
Published 07 May, 2013 12:00am
GlaxoSmithKline Pakistan (GSK)

GlaxoSmithKline Pakistan (GSK)

With over a decade of operations and leadership, GSK is the largest pharmaceutical company in the country. GlobalSmithKline is a market leader in value. The company operates two industry segments within the pharmaceutical sector: Pharmaceuticals which inc
Published 07 May, 2013 12:00am
StanChart to boost ship finance despite sector pain

StanChart to boost ship finance despite sector pain

Standard Chartered will boost ship financing this year despite a slump in many segments of the seaborne trade, scenting growth while other lenders pull back due to capital constraints, the bank's global head of shipping said. The industry is now in a fift
Published 07 May, 2013 12:00am
Australia's job advertisements fell 1.3 percent

Australia's job advertisements fell 1.3 percent

Australian job advertisements in newspapers and on the Internet fell for a second straight month in April in a sign firms are still cautious on hiring despite evidence of a revival in consumer demand. A survey by Australia and New Zealand Banking Group AN
Published 07 May, 2013 12:00am
Indonesia's top cement firm plans Southeast Asia push

Indonesia's top cement firm plans Southeast Asia push

PT Semen Indonesia Tbk plans to build a $200 million factory in Myanmar in 2014 as it expands its business in Southeast Asia to take on Thai rival Siam Cement Pcl, the head of country's biggest cement maker said. The Myanmar plan is the latest expansion s
Published 07 May, 2013 12:00am
Letta says Italy can boost growth without increasing debt

Letta says Italy can boost growth without increasing debt

Italy can stage an economic recovery without increasing its huge public debt, Prime Minister Enrico Letta said on Monday ahead of a meeting with his Spanish counterpart where he hoped to find support for his calls for a policy switch in Europe. Data on Mo
Published 07 May, 2013 12:00am
Qatar Airways look to buy another 10 to 15 Airbus

Qatar Airways look to buy another 10 to 15 Airbus

Qatar Airways is looking to order another 10 to 15 Airbus A330s before the Paris air show in June and might also confirm options on Boeing's 787, the Gulf carrier's chief said Monday. "We are talking to Airbus for extra A330s," Akbar al-Baker told reporte
Published 07 May, 2013 12:00am
Asiya launches Islamic trade finance fund

Asiya launches Islamic trade finance fund

Kuwait-based Asiya Investments has launched an Islamic trade finance fund with $20 million in seed capital, aiming to cater to small Asian manufacturers. Asiya, whose largest shareholder is sovereign wealth fund Kuwait Investment Authority, aims to fill a
Published 07 May, 2013 12:00am
Asiya launches Islamic trade finance fund

Asiya launches Islamic trade finance fund

Kuwait-based Asiya Investments has launched an Islamic trade finance fund with $20 million in seed capital, aiming to cater to small Asian manufacturers. Asiya, whose largest shareholder is sovereign wealth fund Kuwait Investment Authority, aims to fill a
Published 07 May, 2013 12:00am
Fortune 500 profits near record; Wal-Mart is No 1

Fortune 500 profits near record; Wal-Mart is No 1

The 500 largest US companies scored near-record profits last year and retailer Wal-Mart replaced ExxonMobil as the biggest revenue maker on the annual list, Fortune magazine said Monday. Apple cracked into the top 10 companies for the first time, vaulting
Published 07 May, 2013 12:00am
Fortune 500 profits near record; Wal-Mart is No 1

Fortune 500 profits near record; Wal-Mart is No 1

The 500 largest US companies scored near-record profits last year and retailer Wal-Mart replaced ExxonMobil as the biggest revenue maker on the annual list, Fortune magazine said Monday. Apple cracked into the top 10 companies for the first time, vaulting
Published 07 May, 2013 12:00am
ECB ready to cut interest rates again 'if necessary'

ECB ready to cut interest rates again 'if necessary'

The European Central Bank is ready to go beyond the record interest rate cut it agreed to last week if it is needed to prop up the eurozone's stagnant economy, its president Mario Draghi said Monday. "We will be looking at all the data that arrives from t
Published 07 May, 2013 12:00am
Amazon launches Android app store in China

Amazon launches Android app store in China

Amazon.com Inc launched an Android application store that offers paid apps in China, beating Google Inc, as the online retailer seeks to increase the amount of digital content it offers in the world's largest mobile phone market. Amazon, which opened its
Published 07 May, 2013 12:00am
Hyundai wins order for world's biggest container ship

Hyundai wins order for world's biggest container ship

South Korea's Hyundai Heavy Industries said Monday it had won a $700 million deal to build the world's largest container ships for China Shipping Container Lines. Under the deal signed with China's number two shipper, the world's largest shipbuilder will
Published 07 May, 2013 12:00am
Buffett says economy on mend, bonds 'terrible' investment

Buffett says economy on mend, bonds 'terrible' investment

Warren Buffett said the US economy is gradually improving, but low interest rates have made bonds "terrible investments" while stocks remain "reasonably priced." Speaking on CNBC television on Monday, the chairman and chief executive of Berkshire Hathaway
Published 07 May, 2013 12:00am
Buffett says economy on mend, bonds 'terrible' investment

Buffett says economy on mend, bonds 'terrible' investment

Warren Buffett said the US economy is gradually improving, but low interest rates have made bonds "terrible investments" while stocks remain "reasonably priced." Speaking on CNBC television on Monday, the chairman and chief executive of Berkshire Hathaway
Published 07 May, 2013 12:00am
Indonesia growth rate at 2-1/2 years low

Indonesia growth rate at 2-1/2 years low

Indonesia's economy grew at its slowest pace in 2 1/2 years in the first quarter, hurt by slowing private consumption, lower investment and a contraction in mining services, suggesting the government's projection for the year may be too optimistic.
Published 07 May, 2013 12:00am
Japan, China and South Korea to cooperate on air pollution

Japan, China and South Korea to cooperate on air pollution

Japan, China and South Korea agreed Monday to cooperate in the fight against cross-border air pollution, despite strained relations between the neighbours because of territorial disputes. The annual ministerial environmental meeting in Kitakyushu, souther
Published 07 May, 2013 12:00am
China targets hot money inflows with new forex rules

China targets hot money inflows with new forex rules

China has released new rules to curb currency speculation amid signs that hot money inflows have helped push the yuan to a series of record highs in recent weeks. The rules tighten limits on long yuan positions that banks can hold for their own accounts a
Published 07 May, 2013 12:00am
Eurozone slump drags on, Chinese growth sags

Eurozone slump drags on, Chinese growth sags

Business growth flagged in China, recession dragged on euro zone companies, and even US corporate growth slowed in April, according to surveys that bucked a stronger trend in US jobs data. Monday's European purchasing managers indexes (PMIs) suggested the
Published 07 May, 2013 12:00am
Spanish companies turn to junk bonds

Spanish companies turn to junk bonds

Cut off from regular loan financing after a spectacular banking collapse, Spain's mid-sized companies are being forced into the costly junk bond market to meet their funding needs. The good news? Borrowing costs have slumped, investors are proving willing
Published 07 May, 2013 12:00am
Spanish companies turn to junk bonds

Spanish companies turn to junk bonds

Cut off from regular loan financing after a spectacular banking collapse, Spain's mid-sized companies are being forced into the costly junk bond market to meet their funding needs. The good news? Borrowing costs have slumped, investors are proving willing
Published 07 May, 2013 12:00am
Indian shares near three-month high

Indian shares near three-month high

Indian shares rose on Monday to close near a three-month high hit on Thursday, led by gains in stocks beaten down earlier, such as Tata Consultancy Services , which rose on short covering, and metals firm Hindalco Industries, following copper's rally on F
Published 07 May, 2013 12:00am
Sri Lankan bourse at 17-month high

Sri Lankan bourse at 17-month high

Sri Lankan shares hit a 17-month closing high on Monday, led by bluechips such as conglomerate John Keells Holdings, with retail investors buying select shares on expectations of a rate cut at the central bank's policy meeting this week. The day's turnove
Published 07 May, 2013 12:00am