News Archives for Print - 2014-02-28

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (February 27, 2014).

Published 28 Feb, 2014 12:00am

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Thursday (February 27, 2014).

Published 28 Feb, 2014 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (February 27, 2014).

Published 28 Feb, 2014 12:00am

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 28 Feb, 2014 12:00am

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 28 Feb, 2014 12:00am

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 28 Feb, 2014 12:00am

New York cotton

The following were the fluctuations observed during the day:

Published 28 Feb, 2014 12:00am

New York cotton

The following were the fluctuations observed during the day:

Published 28 Feb, 2014 12:00am

Aaj TV - Friday's schedule

All timings are in PST (Pakistan Standard Time).

Published 28 Feb, 2014 12:00am

Daily trading report of PMEX

Pakistan Mercantile Exchange (PMEX) witnessed reversal of trend to bullish from bearish on Thursday. Total value of trade went up by 42 per cent to PRK 4,773 million from PKR3,353 million recorded on Wednesday. Number of lots traded also grew to 17,339 fr

Published 28 Feb, 2014 12:00am

CBOT wheat futures lower

Wheat futures on the Chicago Board of Trade fell on Wednesday, with the spot contract dipping below $6 a bushel for the first time in a week on expectations of slowing US export business and a flurry of technical selling ahead of the closing bell, traders

Published 28 Feb, 2014 12:00am

Soyabean, corn offers steady at US Gulf Coast

Soyabean and corn offers at the US Gulf Coast for April/May strengthened on Wednesday, narrowing the premium quoted on nearby shipments. Exporters also cited steady interest in new-crop, both corn and soyabeans. Wheat basis offers were unchanged late Wedn

Published 28 Feb, 2014 12:00am

Canadian canola futures rise

ICE Canadian canola futures edged higher on Wednesday on modest short-covering. Canola fell off its highs as Chicago soybeans rose, and traders said the reason was likely selling of canola and buying of soybeans to profit off price differences.

Published 28 Feb, 2014 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 176,044 tonnes of cargo comprising 140,567 tonnes of import cargo and 35,477 tonnes of export cargo including 5,299 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday. The total import cargo of 1

Published 28 Feb, 2014 12:00am

Oil cake market rates

The March vaida extended overnight gains on the forward cottonseeds oilcake market Thursday in the process of trading, dealers said. The March contract closed at Rs 1254.70 and it opened with a gain of 20 paisa at Rs 1254.90 in the morning session, they s

Published 28 Feb, 2014 12:00am

Prices little changed on modest trading

Prices showed little movement on the cotton market on Thursday in the process of modest trading, dealers said. The official spot rate was unchanged at Rs 6900, they added. Prices of seed cotton in Sindh per 40 kg low type were unchanged at Rs 2400 and Rs

Published 28 Feb, 2014 12:00am

Infiltration of Indian yarns: domestic spinners facing severe competition

Over the past several weeks, trade sources have divulged that domestic mills are facing severe competition from Indian spinners. A number of mills have also confirmed that cotton yarns are being exported by India into Pakistan in sizeable quantities. This

Published 28 Feb, 2014 12:00am

Infiltration of Indian yarns: domestic spinners facing severe competition

Over the past several weeks, trade sources have divulged that domestic mills are facing severe competition from Indian spinners. A number of mills have also confirmed that cotton yarns are being exported by India into Pakistan in sizeable quantities. This

Published 28 Feb, 2014 12:00am

Kenyan tea prices fall

The highest price for top Kenyan tea fell to $3.95 per kg at this week's auction from $4.00 per kg last week, Africa Tea Brokers (ATB) said on Wednesday. Kenya is the world's leading exporter of black tea and the crop is a major foreign exchange earner fo

Published 28 Feb, 2014 12:00am

Lean business on grain market

Small business was seen on the wholesale grain market on Thursday in the process of trading, dealers said. On the cereals side, Gur was higher by Rs 100 to Rs 4800-5200, other commodities maintained overnight levels, they said. On the seeds side, cottonse

Published 28 Feb, 2014 12:00am

I Coast aims to tap massive mining potential with new rules

Already the world's biggest producer of cocoa, Ivory Coast politicians hope to tap the country's "immense" mining potential after approving new rules aimed at cleaning up the industry's murky reputation. Lawmakers hope the new mining code, approved on Tue

Published 28 Feb, 2014 12:00am

Deeply scarred economy awaits Italy's fresh-faced Renzi

A report on Italian industry on Wednesday showed an economy deeply wounded by years of recession and highlighted the vast challenge faced by inexperienced new Prime Minister Matteo Renzi. The 39-year old outgoing mayor of Florence has vowed to overhaul th

Published 28 Feb, 2014 12:00am

Brazil economy ends 2013 on high note, boosting Rousseff

Brazil's economy ended 2013 on a positive note thanks to strong consumer spending and investment, providing a much-needed boost to President Dilma Rousseff as she tries to rebuild her credibility with investors and win reelection in October. Gross domesti

Published 28 Feb, 2014 12:00am

Malaysia's AirAsia reports drop in profit

AirAsia on Wednesday reported a sharp fall in fourth quarter net profit, as the flamboyant boss of Asia's largest budget carrier by capacity called for "creative" ways to slash costs amid stiff competition. Net profit for the three months ended December f

Published 28 Feb, 2014 12:00am

Malaysia's AirAsia reports drop in profit

AirAsia on Wednesday reported a sharp fall in fourth quarter net profit, as the flamboyant boss of Asia's largest budget carrier by capacity called for "creative" ways to slash costs amid stiff competition. Net profit for the three months ended December f

Published 28 Feb, 2014 12:00am

China treats South Africa as business equals: Zuma

China does business with South Africa on an equal footing, unlike Western former colonial powers who still act like its master, President Jacob Zuma has said. "The countries that have been dealing with us before, particularly old economies, they've dealt

Published 28 Feb, 2014 12:00am

Top EU official warns of misleading app developers

Just two weeks after suggesting the European Union is on the cusp of a digitally led economic bonanza, officials warned Thursday that web developers may be misleading consumers. EU Justice Commissioner Viviane Reding called a two-day meeting with European

Published 28 Feb, 2014 12:00am

Spanish economy trundles on in fourth quarter

Spain's economy grew between October and December as domestic demand and investments improved, data showed, adding to signs that its recovery from recession is slowly gaining traction. Gross domestic product expanded by 0.2 percent in the fourth quarter f

Published 28 Feb, 2014 12:00am

Yellen says Fed has no authority on bitcoin issues

The Federal Reserve has no authority to regulate or otherwise deal with the crypto-currency bitcoin, Fed Chair Janet Yellen said Thursday. Yellen said in a Senate hearing that the banks under its regulatory purview were not involved with bitcoin, and so t

Published 28 Feb, 2014 12:00am

Japan says any bitcoin regulation should be international

Any regulation of the bitcoin crypto-currency should involve international co-operation to avoid loopholes, Japanese vice finance minister Jiro Aichi said on Thursday. Commenting on the closure this week of Tokyo-based Mt. Gox, once the world's biggest ex

Published 28 Feb, 2014 12:00am

Dubai boat show spurs Gulf marine industry

The Dubai International Boat Show 2014, the region's leading leisure marine event organised by Dubai World Trade Centre, is expected to draw 26,000 visitors from 70 countries from March 4-8 at Dubai International Marine Club, Mina Seyahi. Dubai Internatio

Published 28 Feb, 2014 12:00am

Protest held as Cyprus votes on state sell-off

Hundreds of protesters gathered outside the Cyprus parliament on Thursday as a crucial vote was being held on the government's planned sell-off of state utilities. Privatisation was mandated under an agreement which Cyprus signed with international lender

Published 28 Feb, 2014 12:00am

RBS bank posts soaring 2013 losses, yet hands out bonuses

Royal Bank of Scotland's losses soared to almost £9.0 billion last year, the state-rescued lender announced on Thursday, while its decision to pay millions in bonuses triggered a political backlash. Net losses widened nearly 50 percent to £8.995 billion (

Published 28 Feb, 2014 12:00am

RBS bank posts soaring 2013 losses, yet hands out bonuses

Royal Bank of Scotland's losses soared to almost £9.0 billion last year, the state-rescued lender announced on Thursday, while its decision to pay millions in bonuses triggered a political backlash. Net losses widened nearly 50 percent to £8.995 billion (

Published 28 Feb, 2014 12:00am

Ukraine currency plunges on uncertainty

Ukraine's currency plunged seven percent to a record low on Thursday on deepening uncertainty fuelled by Russian military exercises and pro-Kremlin gunmen grabbing government buildings in the separatist-minded Crimean peninsula. The hryvnia was trading fo

Published 28 Feb, 2014 12:00am

Freddie Mac posts $8.6 billion profit in fourth quarter

Mortgage giant Freddie Mac posted net income of $8.6 billion for the October through December period, its ninth straight profitable quarter. Earnings were boosted by the continued rise in home prices, which reduced the amounts the company had to set aside

Published 28 Feb, 2014 12:00am

Freddie Mac posts $8.6 billion profit in fourth quarter

Mortgage giant Freddie Mac posted net income of $8.6 billion for the October through December period, its ninth straight profitable quarter. Earnings were boosted by the continued rise in home prices, which reduced the amounts the company had to set aside

Published 28 Feb, 2014 12:00am

Yellen says winter weather a factor in weak data

Federal Reserve Chair Janet Yellen said Thursday that the intense winter storms of the past two months have been one cause for the weakness in recent US economic data. "We have seen quite a bit of soft data over the last month or six weeks," she told a Se

Published 28 Feb, 2014 12:00am

US core capital goods order up, but worries linger

Orders for long-lasting US manufactured goods excluding transportation and a gauge of business spending unexpectedly rose in January, offering hopeful signs for factory activity which has slowed in recent months. Still, the data on Thursday was not enough

Published 28 Feb, 2014 12:00am

Egypt's bourse rallies as Sisi reappointed; Qatar's Mesaieed tumbles

Egypt's bourse rallied on Thursday after army chief Abdel Fattah al-Sisi kept his post in the new government and authorities said a draft election law would be presented this weekend. Other markets were mixed, while Qatar's Mesaieed Petrochemical Holding

Published 28 Feb, 2014 12:00am

Tokyo stocks down

Tokyo stocks closed 0.32 percent lower Thursday as investors found few buying incentives before congressional testimony from the head of the US central bank later in the day. The Nikkei-225 index dipped 47.86 points to 14,923.11, while the Topix index of

Published 28 Feb, 2014 12:00am

Thursday's early trade: stocks little change after Yellen remarks

US stocks were little changed on Thursday as comments from Federal Reserve Chair Janet Yellen failed to provide clarity on the impact of a harsh winter on recent economic weakness, while concerns rose over turmoil in Ukraine.

Published 28 Feb, 2014 12:00am

S&P 500 ends near flat; retailers fly for a second day

US stocks finished flat on Wednesday with investors hesitant to make a big move on the day before comments from Federal Reserve Chair Janet Yellen, though retailers' shares rallied on results for a second day. Target Corp and Lowe's Cos Inc shares jumped

Published 28 Feb, 2014 12:00am

Seoul shares extend gains slightly

Seoul shares inched up on Thursday as offshore demand pushed stocks higher, but most investors opted to stay put amid escalating tensions in Ukraine and ahead of Federal Reserve Chair Janet Yellen's testimony before the Senate. The Korea Composite Stock P

Published 28 Feb, 2014 12:00am

Treasury debt prices up

US Treasury debt prices inched up on Wednesday after the release of better-than-expected data on new home sales and following strong demand for a sale of five-year notes. US single-family home sales surged to a 5-1/2-year high in January, surprising analy

Published 28 Feb, 2014 12:00am

Treasury debt prices up

US Treasury debt prices inched up on Wednesday after the release of better-than-expected data on new home sales and following strong demand for a sale of five-year notes. US single-family home sales surged to a 5-1/2-year high in January, surprising analy

Published 28 Feb, 2014 12:00am

Strong demand at Italian debt sale reflects Renzi hopes

Italy's 10-year borrowing costs slid to their lowest in more than eight years at a well bid bond sale on Thursday in a further investor endorsement of the new government's ambitious reform plans. With appetite for emerging market assets also soured by ten

Published 28 Feb, 2014 12:00am

Strong demand at Italian debt sale reflects Renzi hopes

Italy's 10-year borrowing costs slid to their lowest in more than eight years at a well bid bond sale on Thursday in a further investor endorsement of the new government's ambitious reform plans. With appetite for emerging market assets also soured by ten

Published 28 Feb, 2014 12:00am

South African stocks higher

South African stocks edged higher on Thursday, with platinum producers such as Impala Platinum gaining ground on hopes that a five-week industry strike might soon end. Shares of Massmart, the South African unit of global retailer Wal-Mart, rose more than

Published 28 Feb, 2014 12:00am

Hong Kong, China stocks soar

Hong Kong shares jumped 1.74 percent on Thursday, adding to the previous day's advance following a positive lead from Wall Street. The benchmark Hang Seng Index added 390.74 points to end at 22,828.18 on turnover of HK$73.19 billion (US $9.44 billion). Ch

Published 28 Feb, 2014 12:00am

European shares trim most losses on US data, Yellen

European equities pared most of their early losses late on Thursday, with better-than-expected US durable goods data and comments from Federal Reserve Chair Janet Yellen prompting some investors to return to the market. The FTSEurofirst 300 index, which f

Published 28 Feb, 2014 12:00am

Australian shares tumble

Australian shares fell 0.5 percent on Thursday in its biggest one-day loss in three weeks on Thursday, hurt by an unexpectedly steep drop in business investment and a sharp fall in Qantas Airways Ltd after poor earnings. The S&P/ASX 200 index fell 25.6 po

Published 28 Feb, 2014 12:00am

Southeast Asian markets: Thai shares gain on hopes of political talks

Thai shares rose to their highest in more than one week on Thursday after anti-government protest leader Suthep Thaugsuban said he was willing to appear in a live TV debate with Prime Minister Yingluck Shinawatra. The key SET index closed up 1.03 percent

Published 28 Feb, 2014 12:00am

FTSE edges up after Yellen, US data; RBS slumps

Britain's top share index edged up on Thursday, lifted by positive US data and assurances from Fed chair Janet Yellen, despite a sharp sell-off in Royal Bank of Scotland and increasing tension over Ukraine. Royal Bank of Scotland skidded 7.7 percent after

Published 28 Feb, 2014 12:00am

Yuan weakens

China's yuan briefly fell on Thursday and remained below the official fixing, which the central bank again set lower, a trend that is likely to continue as China prepares for market reforms. Traders say the People's Bank of China (PBOC) is poised to kick

Published 28 Feb, 2014 12:00am

Dollar near two-week high in Asia

The US dollar held near a two-week high against a basket of major currencies on Thursday, as heightening tensions in Ukraine helped support safe-haven demand for the greenback. The dollar index was steady at 80.405, not very far from Wednesday's peak of 8

Published 28 Feb, 2014 12:00am

Yen, Swiss franc rise in London

The yen and the Swiss franc rose on Thursday as jitters over the chance of Russian intervention in Ukraine added to concern around global emerging markets and drove capital towards the currency world's traditional safe havens. The franc hit its highest to

Published 28 Feb, 2014 12:00am

Early trade in New York: dollar inches lower amid Yellen testimony

The dollar edged lower on Thursday, erasing gains from a day earlier, as market participants looked toward remarks by US Federal Reserve Chair Janet Yellen on the economy and monetary policy in testimony before the Senate Banking Committee.

Published 28 Feb, 2014 12:00am

Dollar gains in New York

The dollar rose on Wednesday to its highest in two weeks against a basket of major currencies as investors sought the greenback's safety on continued geopolitical tension between Russia and Ukraine. President Vladimir Putin put Russian combat troops on hi

Published 28 Feb, 2014 12:00am

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 77.73-77.75 (77.75-77.7525). Call Money Rates: 05.75-07.50 percent (previous 05.50-07.75 percent). ( revised).

Published 28 Feb, 2014 12:00am

Australian dollar slips

The Australian dollar skidded on Thursday after surprisingly weak business investment numbers led the market to narrow the odds on another cut in interest rates - albeit not until later in the year. The Aussie skidded around half a cent to a low of $0.891

Published 28 Feb, 2014 12:00am

Won leads Asia FX slides

The South Korean won led losses among emerging Asian currencies on Thursday as the Chinese yuan extended its recent decline and rising geopolitical tensions over the Ukraine dented sentiment toward riskier assets, boosting the US dollar. The won fell on d

Published 28 Feb, 2014 12:00am

Sterling outperforms euro

Sterling rose against the euro for a fourth straight day on Thursday as weaker-than-forecast German inflation contrasted with Britain's solid recovery. But the pound made little progress against the dollar, with growing geopolitical tension driving invest

Published 28 Feb, 2014 12:00am

Chelsea toil to save English honour, Real stroll

Chelsea became the only English team to secure a positive result from the Champions League last 16 first leg ties with a 1-1 draw away at Galatasaray on Wednesday. In the other game Chelsea coach Jose Mourinho's former side Real Madrid strolled to a 6-1 w

Published 28 Feb, 2014 12:00am

West Indies and England face-off in search of revival

Two teams in dire need of rehabilitation ahead of the next global cricketing contest start what should be an intriguing fortnight of competition on Friday when the West Indies host England in Antigua. While the next World Cup in Australia and New Zealand

Published 28 Feb, 2014 12:00am

Djokovic given an open road into semi-finals

Novak Djokovic advanced to the semi-finals of the Dubai Open more quickly than he would have wished when his opponent, Mikhail Youzhny, was taken ill and withdrew on Thursday. The sixth-seeded Russian had twice reached the final in Dubai and would have pr

Published 28 Feb, 2014 12:00am

Umar Akmal helps Pakistan down Afghanistan

Umar Akmal hit a fighting hundred to help Pakistan overcome early wobbles against Afghanistan to win their crucial Asia Cup match by 72 runs in Dhaka on Thursday. Pakistan owed their recovery to Akmal's 89-ball 102 not out, which lifted them from a precar

Published 28 Feb, 2014 12:00am

South Africa seek to end Australia hoodoo

Graeme Smith's South Africa will seek to cross what has become the final frontier for the country's Test squad when they take on Australia in the series-deciding third and final Test at Newlands from Saturday. Since returning to international cricket in 1

Published 28 Feb, 2014 12:00am

New York cotton down again as buyers reserved; market awaits exports

US cotton futures slid for a second straight day on Wednesday as speculators who had bulked up on the fiber offloaded more positions, while millers were mostly averse to buying at prices offered believing the market would fall further. Caution over how th

Published 28 Feb, 2014 12:00am

Shanghai copper slips

The most-traded May copper contract on the Shanghai Futures Exchange fell to 48,980 yuan ($8,000) a tonne on Thursday, its lowest in nearly seven months. Sentiment is souring as traders, impatient for signs that the industry is ramping up after the Lunar

Published 28 Feb, 2014 12:00am

China demand concerns push copper down

Copper slipped to its lowest in nearly three months on Thursday, weighed down by concerns over demand from top consumer China while growing political turmoil in Ukraine also sapped appetite for risky assets such as metals. Three-month copper on the London

Published 28 Feb, 2014 12:00am

Brent oil weakens on Ukraine worries

Brent oil futures fell on Thursday, pressured by civil unrest in Ukraine that curbed overall risk appetite and fuelled fears that it would slow growth in Europe and lessen oil demand. US oil futures also fell, but losses were capped by data showing the fo

Published 28 Feb, 2014 12:00am

Tokyo rubber futures slip

Benchmark Tokyo rubber futures fell to three-week lows, weighed down by a drop in Japanese stock market and Shanghai rubber prices, but bargain-hunting by Japanese funds helped recover some of the earlier losses, dealers said. The Tokyo Commodity Exchange

Published 28 Feb, 2014 12:00am

Rotterdam vegetable oil prices

Thursday's Rotterdam vegetable oil prices at 1700 GMT.

Published 28 Feb, 2014 12:00am

Rotterdam vegetable oil prices

Thursday's Rotterdam vegetable oil prices at 1700 GMT.

Published 28 Feb, 2014 12:00am

Wheat falls for second day

US wheat futures shed 1.3 percent on Wednesday, pressured by worries that the recent run-up in prices to a two-month high would make supplies from the United States less competitive in global markets. Soyabean and corn futures each were narrowly higher, a

Published 28 Feb, 2014 12:00am

Palm oil lower

Malaysian palm oil futures ended lower on Thursday as investors booked profits after the previous day's gains, but concerns over unfavourable weather squeezing supplies curbed losses and kept prices near a 17-month high. "There's a bit of profit-taking to

Published 28 Feb, 2014 12:00am

ICE coffee and sugar rise

Arabica coffee and raw sugar futures once again turned higher on Thursday, returning near the multi-month highs hit earlier this week on assessments of crop losses in the top grower of both commodities, Brazil. Cocoa on ICE Futures US and Liffe were firm.

Published 28 Feb, 2014 12:00am

Gold falls in New York

Gold fell almost 1 percent on Wednesday, retreating from a four-month high as a dollar rally and surging US new home sales dented bullion's safe-haven appeal. The precious metal accelerated losses after the Commerce Department said that sales of new US si

Published 28 Feb, 2014 12:00am

Gold stays lower in Asia

Gold extended losses on Thursday after the previous session's volatile trade, with a slow physical sector suggesting that jewellers and investors were waiting for prices to drop further from four-month highs. Gold has risen more than 10 percent so far thi

Published 28 Feb, 2014 12:00am

Gold rises in Europe

Gold prices edged up on Thursday due to a steady dollar, but remained well below the previous day's four-month high as buyers of coins, bars and jewellery in Asian markets held off in expectation of a further price drop. The US currency held just below a

Published 28 Feb, 2014 12:00am

US MIDDAY: soyabeans surge

US soyabean futures surged more than 1 percent, on track for their sixth consecutive session of gains on Thursday after big export sales results triggered investment fund buying. Chicago Board of Trade soyabean futures extended their strongest rally since

Published 28 Feb, 2014 12:00am

US MIDDAY: gold flat

Gold prices were flat early on Thursday after US Federal Reserve Chair Yellen failed to provide clarity on the impact of a harsh winter on recent economic weakness, while political uncertainty over Ukraine provided some safe-haven demand. Platinum and pal

Published 28 Feb, 2014 12:00am

Khushhalibank idol award ceremony on March 1

Dawood Global Foundation (DGF) will hold the 6th Ladiesfund(r) women's awards for Pakistan 2014 at Mohatta Palace museum on March 1. Four hundred most dynamic and inspiring women in Pakistan will be in attendance including internationally acclaimed Pakist

Published 28 Feb, 2014 12:00am

Cairo's political turmoil hits seafood export to Egypt

Pakistan's seafood export to turmoil-hit Egypt has fallen by nearly 40 percent since Egyptian army toppled the first-ever democratically elected President Muhammad Morsi in July last year, exporters said on Thursday. "Pakistani exporters faced problem in

Published 28 Feb, 2014 12:00am

Pakistan, India below average trade openness

In an International Chamber of Commerce report, both Pakistan and India have been clubbed together in "below average openness" section with regard to trade openness. In the ICC report, India is ranked 64 with trade openness score of 2.5 which puts it in "

Published 28 Feb, 2014 12:00am

Afaq denies joining Muttahida

Chairman Mohajir Qaumi Movement Haqiqi (MQM-H), Afaq Ahmed, has rejected the reports about the possibility of his joining Muttahida Qaumi Movement (MQM). In a statement, issued here on Thursday, Afaq Ahmed clarified that reports about his plans to join MQ

Published 28 Feb, 2014 12:00am

Bohra community's spiritual leader pays short visit to Karachi

The new spiritual leader of the Bohra community, Syedna Mufaddal Saifuddin, arrived in Karachi from Mumbai, India, on a day long visit on Thursday morning. This was his first foreign visit after the death of Bohra community's spiritual leader Syedna Burha

Published 28 Feb, 2014 12:00am

HBL posts record Rs 23 billion profit after tax

HBL maintains its leadership position posting record profit before and after tax at Rs 36 billion and Rs 23 billion. HBL's deposits increased by 15.3 percent to Rs 1.401 trillion as on December 31, 2013 from Rs 1.215 trillion on December 31, 2012.

Published 28 Feb, 2014 12:00am

HBL posts record Rs 23 billion profit after tax

HBL maintains its leadership position posting record profit before and after tax at Rs 36 billion and Rs 23 billion. HBL's deposits increased by 15.3 percent to Rs 1.401 trillion as on December 31, 2013 from Rs 1.215 trillion on December 31, 2012.

Published 28 Feb, 2014 12:00am

Cement sector records 19 percent rise despite high power tariffs

Despite increase in power tariffs, Pakistan's cement sector posted 19percent growth in 1HFY14 as profits grew to Rs 18.7bn. While higher cement retention prices fuelled 13percent growth in the sector's net sales, declining finance costs, due to smooth lev

Published 28 Feb, 2014 12:00am

Pakistan, Afghanistan: fiscal reforms must to counter parallel trade

Tariff rationalisation and fiscal reforms were necessary to counter parallel trade between Pakistan and Afghanistan. The issue was raised at the 9th session of the Pakistan Afghanistan Joint Economic Commission (JEC) held in Kabul from February 22-24 by P

Published 28 Feb, 2014 12:00am

GSMA Mobile World Congress in Barcelona: IT Minister visits Huawei exhibition booth

Minister of State Anusha Rahman, Ministry of Information Technology and the Pakistan delegation visited Huawei's industry cutting-edge solutions and products at the Huawei exhibition booth at the GSMA Mobile World Congress, now in progress in Barcelona, S

Published 28 Feb, 2014 12:00am

Partly Facetious: Difference between a carrot and a stick

"Oh I wish I were so lucky..."

Published 28 Feb, 2014 12:00am

FBR urged to abolish FED on cement in phase-wise manner

Cement industry has proposed Federal Board of Revenue (FBR) to abolish Federal Excise Duty (FED) on cement in a phase-wise manner and reduce sales tax rate from 17 to 12.5 percent in budget (2014-15). According to the budget proposals of the All Pakistan

Published 28 Feb, 2014 12:00am

Government, USAID working to formulate Shale Gas policy: PAC told

Ministry of Petroleum and Natural Gas Secretary Abid Saeed told the Public Accounts Committee (PAC) on Thursday that the government would formulate Shale Gas policy in consultation with USAID to encourage gas exploration in the country. He said that USAID

Published 28 Feb, 2014 12:00am

Envoys present credentials to Mamnoon

The envoys of the United Kingdom, Afghanistan, Russian Federation, Mauritania and Mexico on Thursday presented their credentials to President Mamnoon Hussain at a ceremony held here at the Presidency. The ambassadors and high commissioner, after presentin

Published 28 Feb, 2014 12:00am

Dialogue process with TTP fails to yield any positive results so far: Sartaj

Adviser to the Prime Minister on National Security and Foreign Affairs Sartaj Aziz on Thursday said the dialogue process with the banned Tehrik-e-Taliban Pakistan (TTP) so far did not yield any positive results, and defended the surgical air strikes again

Published 28 Feb, 2014 12:00am

IESCO shutdown notice

According to IESCO spokesman, due to electricity maintenance/development work the power supply of the following feeders/grid stations would remain suspended as under: On Monday (March 03), 09:00am to 01:00pm, NRC, DK Choudrian, Charing Cross, Westridge fe

Published 28 Feb, 2014 12:00am

NRVs may hit earnings: $36.5 million earned through export of tobacco in Fiscal Year 2013

Pakistan earned $36.5 million through the export of tobacco during financial year 2012-13. This income may decline due to growing cultivation of Non-Recommended Varieties (NRVs), National Assembly Standing Committee on Commerce was informed Thursday.

Published 28 Feb, 2014 12:00am

Currency	Rate
USD PKR Interbank Selling / Jan 17	278.75
USD PKR Interbank Buying / Jan 17	278.65
USD to Japanese Yen / Jan 17	156.30
USD to Swiss Franc / Jan 17	0.92
Pound Sterling to USD / Jan 17	1.22
Euro to USD / Jan 17	1.03

Stock	Volume
S&P 500 / Jan 17	5,996.66
India Sensex / Jan 17	76,619.33
Tokyo Nikkei / Jan 17	38,451.46
Nasdaq / Jan 17	19,630.20
Hang Seng / Jan 17	19,584.06
FTSE 100 / Jan 17	8,505.22
Dow Jones / Jan 17	43,487.83
Germany DAX 30 / Jan 17	20,903.39

Item	Value
Crude Oil USD/Barrel / Jan 17	78.88
Karachi Cotton PKR/37.32 KG / Jan 17	18,785
Gold 10 Grams PKR / Jan 17	242,283
Gold Spot USD/Ounce / Jan 17	2,703.25
Cotton US¢/pound / Jan 17	67.60
Petrol/Litre / Jan 18	256.13

Stock	Price
Burj Clean Energy Modaraba / Jan 17 Burj Clean Energy Modaraba(GEM)(GEMBCEM)	7.60 ▲ 1.00 (15.15%)
S.G.Power / Jan 17 S.G. Power Limited(SGPL)	9.51 ▲ 1.00 (11.75%)
Jahangir Sidd(Pref) / Jan 17 Jahangir Sidd(Pref)(JSCLPSA)	10.50 ▲ 1.00 (10.53%)
AN Textile Mill / Jan 17 AN Textile Mills Limited(ANTM)	12.82 ▲ 1.17 (10.04%)
Jah.Sidd. Co. / Jan 17 Jahangir Siddiqui & Co. Ltd.(JSCL)	23.62 ▲ 2.15 (10.01%)
Agritech Non-voting / Jan 17 Agritech Non-Voting Preference(AGLNCPS)	24.20 ▲ 2.20 (10.00%)
Arif Habib Ltd. / Jan 17 Arif Habib Limited(AHL)	66.21 ▲ 6.02 (10.00%)
Bilal Fibres / Jan 17 Bilal Fibres Limited(BILF)	15.95 ▲ 1.45 (10.00%)
Citi Pharma Ltd / Jan 17 Citi Pharma Ltd.(CPHL)	77.09 ▲ 7.01 (10.00%)

Stock	Price
JS Global Banking / Jan 17 JS Global Banking Sector (ETF)(JSGBETF)	19.77 ▼ -2.75 (-12.21%)
First Capital Equities / Jan 17 First Capital Equities Limited(FCEL)	5.35 ▼ -0.72 (-11.86%)
Tariq Corp.Pref. / Jan 17 Tariq Corporation Limited-Preference Shares(TCORPCPS)	7 ▼ -0.88 (-11.17%)
Service Textile / Jan 17 Service Industries Textiles Limited(SERT)	14.98 ▼ -1.66 (-9.98%)
Gulshan Sp. / Jan 17 Gulshan Spinning Mills Limited(GSPM)	4.01 ▼ -0.43 (-9.68%)
Zahid Jee Textile / Jan 17 Zahidjee Textile Mills Limited(ZAHID)	27.51 ▼ -2.70 (-8.94%)
Mandviwala / Jan 17 Mandviwala Mauser Plastic Industries(MWMP)	21.50 ▼ -2.00 (-8.51%)
Universal Ins. / Jan 17 The Universal Insurance Company Limited(UVIC)	9.23 ▼ -0.65 (-6.58%)
Tata Textile / Jan 17 Tata Textile Mills Limited(TATM)	47.10 ▼ -2.80 (-5.61%)

Stock	Volume
WorldCall Telecom / Jan 17 Worldcall Telecom Limited(WTL)	103,704,415 ▲ 0.01
Cnergyico PK / Jan 17 Cnergyico PK Limited(CNERGY)	37,108,232 ▲ 0.04
Hub Power Co. / Jan 17 The Hub Power Company Limited(HUBC)	36,743,585 ▲ 5.79
Hascol Petrol / Jan 17 Hascol Petroleum Limited(HASCOL)	32,265,861 ▲ 0.83
Dewan Motors / Jan 17 Dewan Farooque Motors Limited(DFML)	28,402,498 ▲ 2.84
Citi Pharma Ltd / Jan 17 Citi Pharma Ltd.(CPHL)	24,195,904 ▲ 7.01
Pak Refinery / Jan 17 Pakistan Refinery Limited(PRL)	17,625,081 ▲ 0.94
Fauji Foods Ltd / Jan 17 Fauji Foods Limited(FFL)	16,675,539 ▲ 0.30
K-Electric Ltd. / Jan 17 K-Electric Limited(KEL)	16,024,776 ▲ 0.09

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