News Archives for Print - 2008-06-20

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (June 19, 2008).

Published 20 Jun, 2008 12:00am

The sentiment has stayed depressed on the share market, shedding another 100 points with a slight improvement in the trade turnover on Thursday, mainly hit by the persisting political uncertainty. The LSE-25 Index finished the session at 3,723.64 points a

Published 20 Jun, 2008 12:00am

Banks' rates for currency notes (buying and selling)

The selling/buying rates for currency notes of major currencies issued by National Bank (NBP) here on Thursday (June 19, 2008).

Published 20 Jun, 2008 12:00am

July-May agriculture credit disbursement up over 30 percent

The disbursement of credit to the agriculture sector by commercial and specialised banks has shown an impressive growth of 30.39 percent year-on-year during the first eleven months (July-May) of the current fiscal year.

Published 20 Jun, 2008 12:00am

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 (June 19, 2008).

Published 20 Jun, 2008 12:00am

July-May agriculture credit disbursement up over 30 percent

The disbursement of credit to the agriculture sector by commercial and specialised banks has shown an impressive growth of 30.39 percent year-on-year during the first eleven months (July-May) of the current fiscal year.

Published 20 Jun, 2008 12:00am

Interest rates on old and incremental FCY deposits

Interest rates on old and incremental FCY deposits on Thursday (June 19, 2008).

Published 20 Jun, 2008 12:00am

July-May agriculture credit disbursement up over 30 percent

The disbursement of credit to the agriculture sector by commercial and specialised banks has shown an impressive growth of 30.39 percent year-on-year during the first eleven months (July-May) of the current fiscal year.

Published 20 Jun, 2008 12:00am

LIBOR calculating interest on US dollar

London Interbank Offer Rates on for calculating interest on special US dollar on Thursday (June 19, 2008).

Published 20 Jun, 2008 12:00am

Withdrawal of subsidies in phases: Naveed

Finance Minister Syed Naveed Qamar has said subsidies on oil and energy would not be taken back in one go, rather these would be withdrawn in phases to minimise the impact on the masses.

Published 20 Jun, 2008 12:00am

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (June 19, 2008).

Published 20 Jun, 2008 12:00am

Withdrawal of subsidies in phases: Naveed

Finance Minister Syed Naveed Qamar has said subsidies on oil and energy would not be taken back in one go, rather these would be withdrawn in phases to minimise the impact on the masses.

Published 20 Jun, 2008 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 (June 19, 2008).

Published 20 Jun, 2008 12:00am

Withdrawal of subsidies in phases: Naveed

Finance Minister Syed Naveed Qamar has said subsidies on oil and energy would not be taken back in one go, rather these would be withdrawn in phases to minimise the impact on the masses.

Published 20 Jun, 2008 12:00am

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (June 19, 2008).

Published 20 Jun, 2008 12:00am

Duty on arms, ammunition, other items enhanced

The Federal Board of Revenue has brought massive changes in customs duty structure through new Pakistan Customs Tariff (PCT) 2008-09, raising customs duty on the import of arms and ammunition from 15-25 percent to 35 percent; hair dryers 15 to 30 percent;

Published 20 Jun, 2008 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 Comm

Published 20 Jun, 2008 12:00am

Duty on arms, ammunition, other items enhanced

The Federal Board of Revenue has brought massive changes in customs duty structure through new Pakistan Customs Tariff (PCT) 2008-09, raising customs duty on the import of arms and ammunition from 15-25 percent to 35 percent; hair dryers 15 to 30 percent;

Published 20 Jun, 2008 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 20 Jun, 2008 12:00am

Duty on arms, ammunition, other items enhanced

The Federal Board of Revenue has brought massive changes in customs duty structure through new Pakistan Customs Tariff (PCT) 2008-09, raising customs duty on the import of arms and ammunition from 15-25 percent to 35 percent; hair dryers 15 to 30 percent;

Published 20 Jun, 2008 12:00am

Karachi interbank rates

Karachi interbank rates on Thursday (June 19, 2008).

Published 20 Jun, 2008 12:00am

BRIndex30 loses 534.91 points

The BRIndex30 registered a negative change of -534.91 or -4.13 percent on Thursday, closing at 12,403.34. It recorded intra-day high of 12,803.46 and low of 12,265.89. The volume amounted to 111,092,900, which was 68.84 percent of the total market and 86.

Published 20 Jun, 2008 12:00am

Aaj TV - Friday's schedule

All timings are in PST (Pakistan Standard Time).

Published 20 Jun, 2008 12:00am

BRIndex30 loses 534.91 points

The BRIndex30 registered a negative change of -534.91 or -4.13 percent on Thursday, closing at 12,403.34. It recorded intra-day high of 12,803.46 and low of 12,265.89. The volume amounted to 111,092,900, which was 68.84 percent of the total market and 86.

Published 20 Jun, 2008 12:00am

New York cotton

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

Published 20 Jun, 2008 12:00am

Stocks slide 3.18 percent

The Karachi share market witnessed panic selling on Thursday due to prevailing uncertainty in northern part of the country and President Musharraf''s statement regarding the US and European Union warning. The benchmark KSE-100 index witnessed heavy loss o

Published 20 Jun, 2008 12:00am

New York cotton

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

Published 20 Jun, 2008 12:00am

Stocks slide 3.18 percent

The Karachi share market witnessed panic selling on Thursday due to prevailing uncertainty in northern part of the country and President Musharraf's statement regarding the US and European Union warning. The benchmark KSE-100 index witnessed heavy loss of

Published 20 Jun, 2008 12:00am

OGDCL - An Overview

Oil & Gas Development Company Limited was originally established as a statutory corporation in pursuance of an agreement with the USSR in 1961 to undertake a planned and systematic exploratory programme and to promote Pakistan's oil and gas prospects.

Published 20 Jun, 2008 12:00am

Stocks slide 3.18 percent

The Karachi share market witnessed panic selling on Thursday due to prevailing uncertainty in northern part of the country and President Musharraf's statement regarding the US and European Union warning. The benchmark KSE-100 index witnessed heavy loss of

Published 20 Jun, 2008 12:00am

Corporate philanthropy for education through public-private partnerships

Despite improved economic indicators social development indices continue to lag. To overcome this huge challenge, development thinkers both globally and locally advocate tir sector partnerships between government, business and civil society.

Published 20 Jun, 2008 12:00am

Saudi Arabia announces 200,000 barrels per day output hike

Saudi Arabia said Thursday it planned to increase daily oil output by 200,000 barrels per day, according to a statement posted on the country''s London embassy website. "Saudi Arabia recently announced a plan to increase oil output by 200,000 barrels per

Published 20 Jun, 2008 12:00am

Engro: fostering sustainable growth

A diversified business enterprise, Engro's business lines include Chemical Fertilisers, Chlor-vinyls, a bulk Liquid Chemical Terminal, Industrial Automation, Power Generation and Foods. The vision of the company is "To be the premier Pakistani enterprise

Published 20 Jun, 2008 12:00am

Saudi Arabia announces 200,000 barrels per day output hike

Saudi Arabia said Thursday it planned to increase daily oil output by 200,000 barrels per day, according to a statement posted on the country's London embassy website. "Saudi Arabia recently announced a plan to increase oil output by 200,000 barrels per d

Published 20 Jun, 2008 12:00am

COMPANY PROFILE: Pakistan Telecommunication Company Limited

About PTCL: PTCL operates in one of the most dynamic, deregulated and competitive markets in the world; Pakistan with a population of 165 million people is a fast growing economy with relatively low penetration of Information Communication Technolo

Published 20 Jun, 2008 12:00am

Saudi Arabia announces 200,000 barrels per day output hike

Saudi Arabia said Thursday it planned to increase daily oil output by 200,000 barrels per day, according to a statement posted on the country's London embassy website. "Saudi Arabia recently announced a plan to increase oil output by 200,000 barrels per d

Published 20 Jun, 2008 12:00am

HANDS collaborates with the Ministry of Health and Sindh Education Foundation

The Health and Nutrition Development Society (HANDS) has been working since 1979 with a mission to improve primary and secondary health facilities, the quality of education and to alleviate poverty through capacity building.

Published 20 Jun, 2008 12:00am

Petroleum products: ministry recommends cut in GST to token 10 paisa per litre

The Ministry of Petroleum and Natural Resources has recommended to the Economic Co-ordination Committee of the Cabinet to cut General Sales Tax on petroleum products from 15 percent to token Rs 0.10 per litre. In its summary now with ECC for approval, the

Published 20 Jun, 2008 12:00am

Philanthropy support services

PCP's flagship programme; 'Philanthropy Support Services' aims to help philanthropists enhance the impact of their giving. It encompasses services that develop capacities and explore workable approaches to good giving. The programme launched its first sup

Published 20 Jun, 2008 12:00am

Petroleum products: ministry recommends cut in GST to token 10 paisa per litre

The Ministry of Petroleum and Natural Resources has recommended to the Economic Co-ordination Committee of the Cabinet to cut General Sales Tax on petroleum products from 15 percent to token Rs 0.10 per litre. In its summary now with ECC for approval, the

Published 20 Jun, 2008 12:00am

Institutional development financing & human resources

Institutional strengthening: In order to improve internal controls, systems and processes, PCP senior management and staff conducted the Center's 'Internal Evaluation' during the last quarter of 2007. This self assessment helped PCP prepare itself for the

Published 20 Jun, 2008 12:00am

Petroleum products: ministry recommends cut in GST to token 10 paisa per litre

The Ministry of Petroleum and Natural Resources has recommended to the Economic Co-ordination Committee of the Cabinet to cut General Sales Tax on petroleum products from 15 percent to token Rs 0.10 per litre. In its summary now with ECC for approval, the

Published 20 Jun, 2008 12:00am

Giga Group-Profile

Giga Group is a company of veterans who have found the perfect medium to exercise the essence of their abilities and experience. They have created new skylines in the modern developing nations rendering great boost in cultures, economies and lives in the

Published 20 Jun, 2008 12:00am

Petroleum products: ministry recommends cut in GST to token 10 paisa per litre

The Ministry of Petroleum and Natural Resources has recommended to the Economic Co-ordination Committee of the Cabinet to cut General Sales Tax on petroleum products from 15 percent to token Rs 0.10 per litre. In its summary now with ECC for approval, the

Published 20 Jun, 2008 12:00am

Giga Group wins the best developer of the Year Award - 2008

Giga Grop, one of the leading property developers in the region was officially presented with an award for "The Best Developer of the Year" in the residential development sector at the Cityscape Middle East Awards 2008 ceremony held on Tuesday, 13th May 2

Published 20 Jun, 2008 12:00am

Government won''t allow sugar export despite historic output

The federal government has decided not to allow sugar export despite its historic production, fearing country could face wheat-like crisis on sugar front as well, well-informed sources in the Industries Ministry told Business Recorder.

Published 20 Jun, 2008 12:00am

Message from assistant vice chairman, Giga Group

This is a major accomplishment by the Giga Group. I am proud of its contributions thereof in construction, modern estate development and other economically significant sectors with a hallmark of excellence. We, at the Giga Group believe in sharing our suc

Published 20 Jun, 2008 12:00am

Government won't allow sugar export despite historic output

The federal government has decided not to allow sugar export despite its historic production, fearing country could face wheat-like crisis on sugar front as well, well-informed sources in the Industries Ministry told Business Recorder.

Published 20 Jun, 2008 12:00am

Message from assistant vice chairman, Giga Group

I would like to cherish this moment as a realisation of our vision. Our success owes itself to the creative and innovative approach we have incorporated in our projects. This award reflects our spirit to succeed and share its fruits with people and places

Published 20 Jun, 2008 12:00am

Government won't allow sugar export despite historic output

The federal government has decided not to allow sugar export despite its historic production, fearing country could face wheat-like crisis on sugar front as well, well-informed sources in the Industries Ministry told Business Recorder.

Published 20 Jun, 2008 12:00am

Message from Chief Executive Officer, Giga Group

Today I am proud to be part of the Giga Group. This award is a milestone for Mazyood Giga International FZE and success for stream of companies that have grown on its operations. I am proud to be a part of the leader's building success for over a half cen

Published 20 Jun, 2008 12:00am

15 percent shares of MCB Bank: Maybank makes $666 million payment

Malayan Banking Berhad (Maybank) on Thursday remitted $666 million (Rs 44 billion) to Pakistan (on Monday value) as payment for 15 percent shares of MCB Bank Limited. Maybank had signed an agreement for the purchase of upto 20 percent ordinary shares of N

Published 20 Jun, 2008 12:00am

Message from Vice Chairman, Giga Group

The best developer award for the Giga Group is the mark of a characteristic age in modern construction and real estate development. I am ecstatic at the occasion and would like to share the delight and pride of being a part of the pioneers of state-of-the

Published 20 Jun, 2008 12:00am

15 percent shares of MCB Bank: Maybank makes $666 million payment

Malayan Banking Berhad (Maybank) on Thursday remitted $666 million (Rs 44 billion) to Pakistan (on Monday value) as payment for 15 percent shares of MCB Bank Limited. Maybank had signed an agreement for the purchase of upto 20 percent ordinary shares of N

Published 20 Jun, 2008 12:00am

Message from Chairman, Giga Group

Giga Group, one of the leading property developers in UAE was officailly awarded "The Best Developer of the year 2008" in the residential development sector at the Cityscape Middle East Awards 2008 Ceremony. We aim to enhance our success in the future jus

Published 20 Jun, 2008 12:00am

15 percent shares of MCB Bank: Maybank makes $666 million payment

Malayan Banking Berhad (Maybank) on Thursday remitted $666 million (Rs 44 billion) to Pakistan (on Monday value) as payment for 15 percent shares of MCB Bank Limited. Maybank had signed an agreement for the purchase of upto 20 percent ordinary shares of N

Published 20 Jun, 2008 12:00am

Tokyo rubber reverses early gains

Tokyo rubber futures slipped on Thursday, reversing opening gains to fall in line with a retreat in oil and other commodities. The most active Tokyo Commodity Exchange rubber contract for November delivery ended the morning session down 0.8 yen or 0.2 per

Published 20 Jun, 2008 12:00am

15 percent shares of MCB Bank: Maybank makes $666 million payment

Malayan Banking Berhad (Maybank) on Thursday remitted $666 million (Rs 44 billion) to Pakistan (on Monday value) as payment for 15 percent shares of MCB Bank Limited. Maybank had signed an agreement for the purchase of upto 20 percent ordinary shares of N

Published 20 Jun, 2008 12:00am

New York sugar higher

Raw sugar futures finished up at an eight-week high Wednesday on investor fund buying, and brokers said the market may have enough momentum to bound higher in the days ahead. Sterling Smith, an analyst for brokers FuturesOne in Chicago, said sugar has bec

Published 20 Jun, 2008 12:00am

Pakistan to get Rs 300 billion loans, grants during fiscal year 2009

Pakistan will get some Rs 300 billion (around four billion dollars) foreign assistance in the shape of loans and grants for the next fiscal year from international financial institutions and different countries to run its development and non-development p

Published 20 Jun, 2008 12:00am

US rice easier

Rough rice futures on the Chicago Board of Trade closed mostly lower in quiet trade on Wednesday, led by lower Asian cash prices, traders said. July rice ended unchanged at $20.30 per cwt, with September down 11 cents at $19.69 and November down 10 at $19

Published 20 Jun, 2008 12:00am

Pakistan to get Rs 300 billion loans, grants during fiscal year 2009

Pakistan will get some Rs 300 billion (around four billion dollars) foreign assistance in the shape of loans and grants for the next fiscal year from international financial institutions and different countries to run its development and non-development p

Published 20 Jun, 2008 12:00am

Texas cotton crop hit hard by sand storms, heat

Blowing sand and blistering heat have badly damaged the cotton crop in Texas, the country's biggest grower, industry analysts said Wednesday. The losses in Texas, which is expected to plant 4.7 million acres of cotton out of the 9.5 million acres planted

Published 20 Jun, 2008 12:00am

Pakistan to get Rs 300 billion loans, grants during fiscal year 2009

Pakistan will get some Rs 300 billion (around four billion dollars) foreign assistance in the shape of loans and grants for the next fiscal year from international financial institutions and different countries to run its development and non-development p

Published 20 Jun, 2008 12:00am

Malaysian tin soars

Malaysian tin gained 2 percent on Thursday on the back of strengthening London Metal Exchange prices and robust demand, one dealer said.

Published 20 Jun, 2008 12:00am

US military loses nuclear parts: report

The US military has lost hundreds of sensitive nuclear missile components, in the latest embarrassment for The Pentagon, the Financial Times reported in its online version on Thursday. Citing US officials familiar with a Pentagon report, the British daily

Published 20 Jun, 2008 12:00am

US copper up

US copper futures rallied 2.7 percent, or 9.80 cents a lb, on Wednesday as chart-based buying boosted values to their highest level in four weeks, while escalating strike action in South America provided additional support, analysts said.

Published 20 Jun, 2008 12:00am

US military loses nuclear parts: report

The US military has lost hundreds of sensitive nuclear missile components, in the latest embarrassment for The Pentagon, the Financial Times reported in its online version on Thursday. Citing US officials familiar with a Pentagon report, the British daily

Published 20 Jun, 2008 12:00am

Shanghai copper futures gain

Copper futures in Shanghai rose 1.4 percent on Thursday after the metal jumped nearly 2 percent in London overnight on supply worries, but the gains could be capped by lingering concerns about demand in China. The most active Shanghai September copper con

Published 20 Jun, 2008 12:00am

Four soldiers killed in firing along LoC

Four Pakistani soldiers were killed on Thursday in an exchange of fire with unknown attackers at the border with India in occupied Kashmir, the military said. The soldiers were on a routine patrol along the Line of Control (LoC) when "unknown miscreants"

Published 20 Jun, 2008 12:00am

Malaysian palm oil falls

Malaysian crude palm oil futures lost 1.7 percent to hit a one-week low on Thursday on fears of swelling stocks amid slowing overseas demand. Earlier profit-taking in US crude oil and soyoil markets also hit palm oil prices, now 21 percent off a record hi

Published 20 Jun, 2008 12:00am

Four soldiers killed in firing along LoC

Four Pakistani soldiers were killed on Thursday in an exchange of fire with unknown attackers at the border with India in occupied Kashmir, the military said. The soldiers were on a routine patrol along the Line of Control (LoC) when "unknown miscreants"

Published 20 Jun, 2008 12:00am

Oil falls below $136 in Asia

Oil fell on Thursday as supply concerns in Nigeria eased after the country's oil ministry prevented a potentially crippling strike by workers at Chevron. But falling US oil stocks and comments from the White House that Saudi Arabia was unlikely to raise o

Published 20 Jun, 2008 12:00am

US gold higher

US gold futures end higher Wednesday as investors increase buying of bullion after crude oil turns sharply higher and the dollar extends losses.

Published 20 Jun, 2008 12:00am

Gold approaches $900 in Asia

Gold hit its highest level in more than a week on Thursday on a US weak dollar and overnight gains in oil, while platinum and palladium hovered near highs after worries about supplies resurfaced.

Published 20 Jun, 2008 12:00am

Activity at Karachi and Qasim ports

The Karachi Port handled 82,173 tonnes of cargo including 36,682 tonnes of import, 45,491 tonnes of export cargo and 3,769 loaded and empty containers (TEUs) during last 24 hours ended at 0700 hours on Thursday. The cargoes comprised of 60,581 tonnes of d

Published 20 Jun, 2008 12:00am

FOB Gulf corn, soya steady; flood restricts supplies

US FOB Gulf soyabean and corn basis offers held steady on Wednesday but exporters were reluctant to sell grain for July shipment due to flooding cutting off shipments from the upper Midwest, traders said. World wheat trade active with Egypt's GASC tenderi

Published 20 Jun, 2008 12:00am

KCBT wheat futures close higher

Hard red winter wheat futures on the Kansas City Board of Trade closed higher on Wednesday as rallies in corn and crude oil inspired technical buying, traders said. KCBT July wheat settled 6-1/4 cents higher at $9.45-1/4 per bushel, with back months up 3

Published 20 Jun, 2008 12:00am

Russian steel export duties unlikely

Russian government officials have opposed a request for steel export duties by oil firms that have complained of high domestic prices for steel pipes, Vedomosti business daily reported on Thursday. Deputy Prime Minister Igor Sechin asked several ministrie

Published 20 Jun, 2008 12:00am

Canadian canola futures higher

Canadian canola futures closed higher on Wednesday due to crusher buying, but the rally was tempered by weakness in the US soya complex, traders said. Expectations for a good canola crop this fall also weighed on the market. Many farmers were selling futu

Published 20 Jun, 2008 12:00am

Indonesian palm oil prices fall

Indonesian palm oil prices fell as much as 2 percent on Thursday, dragged down by losses in Malaysia and concerns about higher inventories, dealers said. The state marketing centre in Jakarta sold crude palm oil at 9,335 rupiah ($1.01) a kg, down 2 percen

Published 20 Jun, 2008 12:00am

A few changes observed on grain market

Firmness prevailed on the grain market on Thursday as almost all commodities held the overnight levels in process of thin trading, dealers said. A few changes were seen on the cereal side, where Urad Burma better type gained Rs 50 to Rs 1850 while the low

Published 20 Jun, 2008 12:00am

US corn futures up

US corn futures closed higher on Wednesday amid support from flooding in the US Midwest that has trimmed prospects for the 2008 corn crop, traders said. CBOT corn closed 3 to 16-1/4 cents per bushel higher, with July up 4 at $7.46-1/4 per bushel. Funds bo

Published 20 Jun, 2008 12:00am

US wheat ends higher

US wheat futures closed higher on Wednesday after a seesaw trade as late rallies in corn and crude oil inspired short-covering and technical buying, traders said. Wheat continues to take cues from the corn market, which hit all-time highs this week and co

Published 20 Jun, 2008 12:00am

Cotton prices rule steady

Cotton prices continued to maintain their steady position throughout this week as leftover stocks from the current season (2007-2008) have dropped to negligible numbers. Though the proper figures of unsold stocks from this season still lying with the ginn

Published 20 Jun, 2008 12:00am

Cotton prices rule steady

Cotton prices continued to maintain their steady position throughout this week as leftover stocks from the current season (2007-2008) have dropped to negligible numbers. Though the proper figures of unsold stocks from this season still lying with the ginn

Published 20 Jun, 2008 12:00am

Firm prices, low volume seen on cotton market

Unforeseen fears about the size of cotton production for the coming season kept the prices firm on the cotton market on Thursday, experts said. The Karachi cotton Association (KCA) official spot rate was unchanged at Rs 3800, dealers said.

Published 20 Jun, 2008 12:00am

US jobless claims fall

The number of US workers filing new claims for jobless benefits fell 5,000 last week, government data on Thursday showed, but claims remained near levels indicating a sluggish labour market amid a cooler economy.

Published 20 Jun, 2008 12:00am

US factories languish as costs highest since 1980

US Mid-Atlantic factories pulled back for a seventh straight month as costs shot up to a 28-year high, while data on unemployment benefits pointed to a sluggish labour market.

Published 20 Jun, 2008 12:00am

World Bank raises forecast for China inflation

The World Bank sharply raised its forecast for China's inflation on Thursday, saying that while food price pressures were fading, there was a risk of a spillover into wages and the wider economy. The development bank said containing this spread required C

Published 20 Jun, 2008 12:00am

Economic gloom abounds, except in UK shops

A sharp rise in British retail sales pierced the global economic gloom like a rare shaft of sunlight on Thursday, but other developments showed that hopes that storm clouds would disperse were premature.

Published 20 Jun, 2008 12:00am

Taiwan expands shipping links with China

Taiwan announced on Thursday an expansion of shipping links to China following historic talks between the two rivals aimed at easing tension and boosting economic ties. The change will enable all Taiwanese with valid transport documents to travel by boat

Published 20 Jun, 2008 12:00am

South Korean president apologises on US beef deal

South Korea's embattled president apologised on Thursday for a US beef import deal that sparked mass street protests and said he will sack close aides but analysts said that might not be enough to reverse a slide in public support.

Published 20 Jun, 2008 12:00am

Gulf Arab inflation shows signs of intensifying

New signs surfaced on Thursday that inflation in the Gulf Arab region will continue to rise from record levels, raising pressure on governments to rein in money supply growth and shield people from price pressures. Inflation in Kuwait, the only Gulf oil p

Published 20 Jun, 2008 12:00am

US and China launch talks for investment treaty, ink energy deal

The United States and China agreed Wednesday to launch negotiations to forge a bilateral investment treaty and inked a 10-year accord to achieve energy security, officials said. The agreements were announced at the end of two days of high level talks, des

Published 20 Jun, 2008 12:00am

Mandelson sees Russia WTO deal in 2008

Agreement can be reached by the end of this year on Russia's accession to the World Trade Organisation (WTO), but rows over the trade in meat and timber need to be resolved, the European Union's trade chief said.

Published 20 Jun, 2008 12:00am

China shocks with 18 percent fuel price rise

China raised retail gasoline and diesel prices on Thursday by up to 18 percent, a move that threatens to stoke domestic angst over decade-high inflation less than two months before Beijing hosts Olympics games.

Published 20 Jun, 2008 12:00am

Fuel protests spread, Nepali students stone cars

Spanish farmers marched, Israeli truckers slowed rush-hour traffic and Nepali students stoned cars on Thursday in anger at rising fuel prices and inflation that they say are crippling their economies. Protests by truckers, taxi drivers, fishermen and farm

Published 20 Jun, 2008 12:00am

Indian inflation to soften by end 2008

The outlook for inflation in India is uncertain in the June and September quarters, but there should be a clear downtrend in the December quarter, the chief economic adviser of the finance ministry said on Thursday. "There is a lot of uncertainty over the

Published 20 Jun, 2008 12:00am

When in doubt, tighten! OECD chief says in Seoul

When in doubt, tighten monetary policy and the economy will adjust over time, the head of the OECD advised South Korea's central bank, which has been struggling to balance rising inflation and slowing growth.

Published 20 Jun, 2008 12:00am

Currency	Rate
USD PKR Interbank Selling / May 23	278.42
USD PKR Interbank Buying / May 23	278.22
USD to Japanese Yen / May 23	156.74
USD to Swiss Franc / May 23	0.91
Pound Sterling to USD / May 23	1.27
Euro to USD / May 23	1.08

Stock	Volume
S&P 500 / May 22	5307.01
Nasdaq / May 22	16801.54
Dow Jones / May 22	39671.04
India Sensex / May 23	74667.86
Tokyo Nikkei / May 23	39034.80
Hang Seng / May 23	18845.59
FTSE 100 / May 23	8373.47
Germany DAX 30 / May 23	18748.98

Item	Value
Petrol/Litre / May 23	273.10
Crude Oil USD/Barrel / May 23	76.94
Karachi Cotton PKR/37.32 KG / May 23	19935
Gold 10 Grams PKR / May 23	207476
Gold Spot USD/Ounce / May 23	2362.37
Diesel/Litre / May 23	274.08

Stock	Price
786 Invest Ltd / May 23 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 23 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 23 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 23 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 23 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 23 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 23 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 23 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 23 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 23 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 23 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 23 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 23 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 23 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 23 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 23 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 23 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 23 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 23 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 23 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 23 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 23 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 23 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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