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Print - 2015-03-13
South Korea cuts interest rate to record low 1.75 percent

South Korea cuts interest rate to record low 1.75 percent

South Korea on Thursday became the latest country to cut interest rates as the central bank announced a surprise 25 basis point reduction to a record-low 1.75 percent, as it tries to fend off deflation and kick-start the struggling economy. The cut is the
Published 13 Mar, 2015 12:00am
Australian consumer sentiment dips in March

Australian consumer sentiment dips in March

A measure of Australian consumer sentiment dipped from 13-month highs in March as concerns about proposed budget measures and taxation tempered the favourable effect of lower interest rates. Wednesday's survey of 1,200 people by the Melbourne Institute an
Published 13 Mar, 2015 12:00am
Japanese firms' mood worsens

Japanese firms' mood worsens

Confidence at big Japanese manufacturers worsened in January-March and is seen turning negative in the second quarter as a slumping yen ramped up the costs of raw material imports, a survey showed, complicating Tokyo's stimulus-driven campaign to revive t
Published 13 Mar, 2015 12:00am
German industry slashes estimates of benefits of US trade deal

German industry slashes estimates of benefits of US trade deal

German industry federation BDI has been forced to slash its estimate of the economic benefits for Europe of a proposed US-EU free trade pact by a factor of 10, it conceded Wednesday. The BDI had said online that the controversial trade deal would spell an
Published 13 Mar, 2015 12:00am
German banks face big losses from Austria's Hypo: rating agency

German banks face big losses from Austria's Hypo: rating agency

German banks could face substantial losses from a looming haircut on their loans to a bank in neighbouring Austria, but the losses will be manageable, rating agency Fitch said on Thursday. "German banks have larger exposures than Austrian banks to Heta As
Published 13 Mar, 2015 12:00am
Serbia cuts key rate to boost investment, economy revival

Serbia cuts key rate to boost investment, economy revival

Serbia's central bank cut Thursday its key interest rate to 7.5 percent in an effort to boost the investment climate and revive the country's ailing economy. The National Bank of Serbia (NBS) said in a statement it had decided to cut interest rate by 0.5
Published 13 Mar, 2015 12:00am
New Zealand leaves interest rates at 3.5 percent

New Zealand leaves interest rates at 3.5 percent

New Zealand's central bank held interest rates at 3.5 percent on Thursday, saying lower oil prices were helping to contain inflation. The Reserve Bank of New Zealand said the official cash rate (OCR) was likely to remain unchanged for some time as long-te
Published 13 Mar, 2015 12:00am
Grams, Urad rates up on grain market

Grams, Urad rates up on grain market

An upward trend prevailed on the wholesale grain market on Thursday in the process of modest trading, dealers said. On the cereals side, Urad Burma gained Rs 500 to Rs 10750, wheat new Bardan, however, lost Rs 200 to Rs 3100, other commodities held the ov
Published 13 Mar, 2015 12:00am
Cotton prices remain range bound

Cotton prices remain range bound

Throughout mood of this week, cotton prices remained mostly stalled despite the fact that current crop (August 2014 / July 2015) supplies are tapering off and the new crop (2015 / 2016) could be delayed by two or three weeks due to continuous winter rains
Published 13 Mar, 2015 12:00am
Cotton prices remain range bound

Cotton prices remain range bound

Throughout mood of this week, cotton prices remained mostly stalled despite the fact that current crop (August 2014 / July 2015) supplies are tapering off and the new crop (2015 / 2016) could be delayed by two or three weeks due to continuous winter rains
Published 13 Mar, 2015 12:00am
Modest trading witnessed amid tight supply

Modest trading witnessed amid tight supply

No major change was witnessed in the present outlook on the cotton market on Thursday, dealers said. The official spot rate held the week-end level at Rs 5000, dealers said. In the ready session, over 5,000 bales of cotton changed hands between Rs 4800 an
Published 13 Mar, 2015 12:00am
Oil cake market rates

Oil cake market rates

Easier trend was witnessed on the forward cottonseed oilcake market on Thursday in the process of trading, dealers said. The March vaida closed at Rs 1424.50 on Wednesday and it commenced with 20 paisa loss at Rs 1424.30 in the morning session, they said.
Published 13 Mar, 2015 12:00am
Activity at Karachi & Qasim ports

Activity at Karachi & Qasim ports

The Karachi Port handled 165,795 tonnes of cargo comprising 135,618 tonnes of import cargo and 30,177 tonnes of export cargo including 5,072 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday. The total import cargo of 1
Published 13 Mar, 2015 12:00am
Indonesia's February refined tin exports fall

Indonesia's February refined tin exports fall

Refined tin shipments from top exporter Indonesia fell 12 percent to 5,986.43 tonnes in February from the previous month, its lowest level since November, a trade ministry official said on Tuesday. A breakdown of Indonesia's February exports was not avail
Published 13 Mar, 2015 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Wednesday for the fourth straight session, boosted by a weak Canadian dollar that made exports more competitive. Spillover strength from soybeans, due to concerns about South America's crops, added a further lift. Most-
Published 13 Mar, 2015 12:00am
Asian naphtha up on strong demand

Asian naphtha up on strong demand

Asia's naphtha crack jumped 10 percent to a one-week high of $103.28 a tonne as persistent strong demand and a prolonged shortage of cheap alternative liquefied petroleum gas (LPG) feedstock reversed previous weakness caused by Middle Eastern supplies. Th
Published 13 Mar, 2015 12:00am
Daily trading report of PMEX

Daily trading report of PMEX

On Wednesday at Pakistan Mercantile Exchange (PMEX) value traded was PRK 2.117 billion as compared PKR 1.963 billion, up 8 percent. The number of lots traded was 14,834 and PMEX Commodity Index closed at 2,491. Major business was contributed by crude oil
Published 13 Mar, 2015 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 13 Mar, 2015 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 13 Mar, 2015 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 13 Mar, 2015 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 13 Mar, 2015 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 Thursday (March 12, 2015).

Published 13 Mar, 2015 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 Thursday (March 12, 2015).

Published 13 Mar, 2015 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 Thursday (March 12, 2015).

Published 13 Mar, 2015 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 Thursday (March 12, 2015).

Published 13 Mar, 2015 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (March 12, 2015).
Published 13 Mar, 2015 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (March 12, 2015).

Published 13 Mar, 2015 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Thursday (March 12, 2015).

Published 13 Mar, 2015 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Thursday (March 12, 2015).

Published 13 Mar, 2015 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Thursday (March 12, 2015).

Published 13 Mar, 2015 12:00am
US government procurement: Pakistan obtains observer status

US government procurement: Pakistan obtains observer status

United States (US) has allowed Pakistani companies to participate in government procurement with the approval of the US President as Pakistan has obtained observer status in government procurement group of the WTO. This was stated by Commerce Minister, En
Published 13 Mar, 2015 12:00am
US government procurement: Pakistan obtains observer status

US government procurement: Pakistan obtains observer status

United States (US) has allowed Pakistani companies to participate in government procurement with the approval of the US President as Pakistan has obtained observer status in government procurement group of the WTO. This was stated by Commerce Minister, En
Published 13 Mar, 2015 12:00am
US government procurement: Pakistan obtains observer status

US government procurement: Pakistan obtains observer status

United States (US) has allowed Pakistani companies to participate in government procurement with the approval of the US President as Pakistan has obtained observer status in government procurement group of the WTO. This was stated by Commerce Minister, En
Published 13 Mar, 2015 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 13 Mar, 2015 12:00am
Ways discussed to expand Pak-US trade & investment

Ways discussed to expand Pak-US trade & investment

Pakistan and United States on Thursday discussed the ways and means to expand two-way trade and investment through easy market excess. According to a statement issued by a spokesperson for the US Embassy here, senior officials from the governments of the
Published 13 Mar, 2015 12:00am
Ways discussed to expand Pak-US trade & investment

Ways discussed to expand Pak-US trade & investment

Pakistan and United States on Thursday discussed the ways and means to expand two-way trade and investment through easy market excess. According to a statement issued by a spokesperson for the US Embassy here, senior officials from the governments of the
Published 13 Mar, 2015 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 13 Mar, 2015 12:00am
Ways discussed to expand Pak-US trade & investment

Ways discussed to expand Pak-US trade & investment

Pakistan and United States on Thursday discussed the ways and means to expand two-way trade and investment through easy market excess. According to a statement issued by a spokesperson for the US Embassy here, senior officials from the governments of the
Published 13 Mar, 2015 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 13 Mar, 2015 12:00am
Prime Minister orders curtailed loadshedding

Prime Minister orders curtailed loadshedding

Prime Minister Nawaz Sharif has directed Ministry of Water to ensure that loadshedding does not exceed six hours in cities and eight hours in rural areas during summer. An official said the Prime Minister was concerned about loadshedding and wants Ministr
Published 13 Mar, 2015 12:00am
Board meetings in progress

Board meetings in progress

Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

Published 13 Mar, 2015 12:00am
Prime Minister orders curtailed loadshedding

Prime Minister orders curtailed loadshedding

Prime Minister Nawaz Sharif has directed Ministry of Water to ensure that loadshedding does not exceed six hours in cities and eight hours in rural areas during summer. An official said the Prime Minister was concerned about loadshedding and wants Ministr
Published 13 Mar, 2015 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 13 Mar, 2015 12:00am
Prime Minister orders curtailed loadshedding

Prime Minister orders curtailed loadshedding

Prime Minister Nawaz Sharif has directed Ministry of Water to ensure that loadshedding does not exceed six hours in cities and eight hours in rural areas during summer. An official said the Prime Minister was concerned about loadshedding and wants Ministr
Published 13 Mar, 2015 12:00am
Stocks recoup losses

Stocks recoup losses

The Karachi share market showed some recovery Thursday on the back of what analysts said institutional interest in select stocks. Having contracted 15 percent since January 28, the KSE-100 index added 43 points to Wednesday's 32,539.61 points to close at
Published 13 Mar, 2015 12:00am
Stocks recoup losses

Stocks recoup losses

The Karachi share market showed some recovery Thursday on the back of what analysts said institutional interest in select stocks. Having contracted 15 percent since January 28, the KSE-100 index added 43 points to Wednesday's 32,539.61 points to close at
Published 13 Mar, 2015 12:00am
Stocks recoup losses

Stocks recoup losses

The Karachi share market showed some recovery Thursday on the back of what analysts said institutional interest in select stocks. Having contracted 15 percent since January 28, the KSE-100 index added 43 points to Wednesday''s 32,539.61 points to close at
Published 13 Mar, 2015 12:00am
BRIndex30 gains 36.62 points

BRIndex30 gains 36.62 points

On Thursday, BRIndex30 opened at 18,716.12 points. It touched an intraday high of 18,844.38 points and an intraday low of 18,643.65 points and closed at 18,752.74 points which was 36.62 points or 0.2 percent higher than previous close. Total volume was 80
Published 13 Mar, 2015 12:00am
US citizen detained, released

US citizen detained, released

Airport Security Force (ASF) on Thursday briefly detained a United States (US) citizen for attempting to board a plane while carrying a pistol and 11 bullets, sources said. Source said that Patrick Tona, who was identified by airport official as security
Published 13 Mar, 2015 12:00am
Reduction in tariffs of 3 Discos approved by Nepra

Reduction in tariffs of 3 Discos approved by Nepra

National Electric Power Regulatory Authority (Nepra) has approved a reduction of Rs 1 to Rs 3.8 per unit in the tariffs of three power distribution companies under the monthly fuel adjustment formula. The authority has rejected the proposals of passing on
Published 13 Mar, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (March 12, 2015).

Published 13 Mar, 2015 12:00am
Reduction in tariffs of 3 Discos approved by Nepra

Reduction in tariffs of 3 Discos approved by Nepra

National Electric Power Regulatory Authority (Nepra) has approved a reduction of Rs 1 to Rs 3.8 per unit in the tariffs of three power distribution companies under the monthly fuel adjustment formula. The authority has rejected the proposals of passing on
Published 13 Mar, 2015 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Thursday (March 12, 2015).

Published 13 Mar, 2015 12:00am
Advances from banks: FBR denies charges

Advances from banks: FBR denies charges

The Federal Board of Revenue (FBR) has categorically denied charges of allegedly taking advance of around Rs 50 billion from banks to inflate tax collection figures. It is learnt that the hearing in cases of sales tax refund payments and advances from ban
Published 13 Mar, 2015 12:00am
The Weather

The Weather

The weather report on Thursday (March 12, 2015) and the forecast for Friday (March 13, 2015).

Published 13 Mar, 2015 12:00am
Advances from banks: FBR denies charges

Advances from banks: FBR denies charges

The Federal Board of Revenue (FBR) has categorically denied charges of allegedly taking advance of around Rs 50 billion from banks to inflate tax collection figures. It is learnt that the hearing in cases of sales tax refund payments and advances from ban
Published 13 Mar, 2015 12:00am
Advances from banks: FBR denies charges

Advances from banks: FBR denies charges

The Federal Board of Revenue (FBR) has categorically denied charges of allegedly taking advance of around Rs 50 billion from banks to inflate tax collection figures. It is learnt that the hearing in cases of sales tax refund payments and advances from ban
Published 13 Mar, 2015 12:00am
Purchase of APCs: IGP Sindh summoned by Supreme Court

Purchase of APCs: IGP Sindh summoned by Supreme Court

The Supreme Court on Thursday summoned on March 26 Sindh Inspector General Police in relation to a scam of Rs 1.23 billion regarding the purchase of Armoured Personnel Carriers (APCs). A three-member bench led by the Justice Jawwad S Khawaja resumed the h
Published 13 Mar, 2015 12:00am
Purchase of APCs: IGP Sindh summoned by Supreme Court

Purchase of APCs: IGP Sindh summoned by Supreme Court

The Supreme Court on Thursday summoned on March 26 Sindh Inspector General Police in relation to a scam of Rs 1.23 billion regarding the purchase of Armoured Personnel Carriers (APCs). A three-member bench led by the Justice Jawwad S Khawaja resumed the h
Published 13 Mar, 2015 12:00am
CCI to meet on 18th after long delay

CCI to meet on 18th after long delay

The government has finally convened a meeting of Council of Common Interests (CCI) after nine months against the Constitutional requirement of ninety days to take up important issues including a request by Balochistan government for purchase of up to 20 p
Published 13 Mar, 2015 12:00am
CCI to meet on 18th after long delay

CCI to meet on 18th after long delay

The government has finally convened a meeting of Council of Common Interests (CCI) after nine months against the Constitutional requirement of ninety days to take up important issues including a request by Balochistan government for purchase of up to 20 p
Published 13 Mar, 2015 12:00am
CCI to meet on 18th after long delay

CCI to meet on 18th after long delay

The government has finally convened a meeting of Council of Common Interests (CCI) after nine months against the Constitutional requirement of ninety days to take up important issues including a request by Balochistan government for purchase of up to 20 p
Published 13 Mar, 2015 12:00am
HBL acquiring Pakistan business of Barclays Bank

HBL acquiring Pakistan business of Barclays Bank

Habib Bank Limited (HBL), Government of Pakistan's 41.54 percent residual shares of which are up for sale at the country's stocks market, is acquiring Barclays Bank PLC's operations in Pakistan. Habib Bank has long been engaged with the British banking gi
Published 13 Mar, 2015 12:00am
HBL acquiring Pakistan business of Barclays Bank

HBL acquiring Pakistan business of Barclays Bank

Habib Bank Limited (HBL), Government of Pakistan's 41.54 percent residual shares of which are up for sale at the country's stocks market, is acquiring Barclays Bank PLC's operations in Pakistan. Habib Bank has long been engaged with the British banking gi
Published 13 Mar, 2015 12:00am
HBL acquiring Pakistan business of Barclays Bank

HBL acquiring Pakistan business of Barclays Bank

Habib Bank Limited (HBL), Government of Pakistan''s 41.54 percent residual shares of which are up for sale at the country''s stocks market, is acquiring Barclays Bank PLC''s operations in Pakistan. Habib Bank has long been engaged with the British banking
Published 13 Mar, 2015 12:00am
US citizen detained, released

US citizen detained, released

Airport Security Force (ASF) on Thursday briefly detained a United States (US) citizen for attempting to board a plane while carrying a pistol and 11 bullets, sources said. Source said that Patrick Tona, who was identified by airport official as security
Published 13 Mar, 2015 12:00am
Rival groups clash: eight killed, 10 injured

Rival groups clash: eight killed, 10 injured

At least eight persons were killed and more than ten others were injured a clash erupted between two rival groups in Pakho here on Thursday. SSP Qambar Sarfraz Nawaz Sheikh told APP that a clash erupted between two rival groups due to land dispute that re
Published 13 Mar, 2015 12:00am
Cotton procurement: TCP pays Rs two billion to 212 ginners

Cotton procurement: TCP pays Rs two billion to 212 ginners

The Trading Corporation of Pakistan (TCP) has disbursed over Rs 2 billion among 212 ginners against cotton procurement. Sources told Business Recorder Thursday that after a complete scrutiny, the state-run grain trader initiated partial payments ag
Published 13 Mar, 2015 12:00am
Lower oil prices inflict Rs one billion loss on Shell Pakistan

Lower oil prices inflict Rs one billion loss on Shell Pakistan

The Board of Directors of Shell Pakistan Limited announced the company's financial results for the year ended December 31, 2014. While the company reported achievements in operational performance, increases in market share and growth profitability in its
Published 13 Mar, 2015 12:00am
3P-Pakistan 2015: BoI chief claims end to energy crisis in two years

3P-Pakistan 2015: BoI chief claims end to energy crisis in two years

Board of Investment Pakistan Chairman Dr Miftah Ismail has claimed that the energy shortage in the country will be ovvercome in the next two years He told reporters at the 11th International Plastic, Printing and Packaging Exhibition (3P-Pakistan 2015) th
Published 13 Mar, 2015 12:00am
ATC awards five-year jail to two extortionists

ATC awards five-year jail to two extortionists

Anti-Terrorism Court (ATC) on Thursday awarded five years imprisonment to two suspects for demanding extortion money from grandfather. Suspect Musawar and his accomplice Arslan were involved in demanding Rs 50,000 extortion money from grandfather in 2011.
Published 13 Mar, 2015 12:00am
The next NFC Award

The next NFC Award

The Sindh government has reportedly not yet nominated its private member for discussions on the eighth five-year National Finance Commission (NFC) in spite of repeated reminders by the Ministry of Finance. The 2009 7th NFC Award is operative at present, h
Published 13 Mar, 2015 12:00am
Raid on Nine-Zero

Raid on Nine-Zero

With bonhomie generated by the unanimous nomination of Raza Rabbani as Chairman of the Senate unanimous still permeating through the national political landscape the Rangers' raid on the MQM headquarters (Nine Zero) early Wednesday morning comes as a stun
Published 13 Mar, 2015 12:00am
Decision for purchasing of 1,000 megawatts power from Iran hailed

Decision for purchasing of 1,000 megawatts power from Iran hailed

Progressive Group, a representative forum of businessmen and traders on Thursday welcomed the decision of National Electric Power Regulatory Authority (Nepra) to grant approval for purchasing 1,000MW electricity from Iran and termed it a step in right dir
Published 13 Mar, 2015 12:00am