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Print - 2014-06-06
GIDC hike to push up urea price by Rs 70 per 50kg bag

GIDC hike to push up urea price by Rs 70 per 50kg bag

The increase in Gas Infrastructure Development Cess (GIDC) for fuel stock component of fertiliser sector would have a price impact of around Rs 60-70 per 50-kg urea bag. In order to enhance revenue collection, under the budgetary measurers, the federal go
Published 06 Jun, 2014 12:00am
GIDC hike to push up urea price by Rs 70 per 50kg bag

GIDC hike to push up urea price by Rs 70 per 50kg bag

The increase in Gas Infrastructure Development Cess (GIDC) for fuel stock component of fertiliser sector would have a price impact of around Rs 60-70 per 50-kg urea bag. In order to enhance revenue collection, under the budgetary measurers, the federal go
Published 06 Jun, 2014 12:00am
BRIndex30 drops 193.37 points

BRIndex30 drops 193.37 points

On Thursday, BRIndex30 opened at 17,321.39. It touched an intraday high of 17,548.10 and an intraday low of 17,055.94 and closed at 17,128.02, which was -193.37 points or -1.12 percent lower than previous close. Total volume was 171,775,700, which was 69.
Published 06 Jun, 2014 12:00am
BRIndex30 drops 193.37 points

BRIndex30 drops 193.37 points

On Thursday, BRIndex30 opened at 17,321.39. It touched an intraday high of 17,548.10 and an intraday low of 17,055.94 and closed at 17,128.02, which was -193.37 points or -1.12 percent lower than previous close. Total volume was 171,775,700, which was 69.
Published 06 Jun, 2014 12:00am
Stocks edge lower

Stocks edge lower

Stocks edged lower on Karachi Stock Exchange Thursday as investors trimmed their positions amid a poor law and order situation in the city. The benchmark KSE-100 index shed 35 points to close at 29,417.20 points against 29,452.23 points Wednesday. Samar I
Published 06 Jun, 2014 12:00am
Stocks edge lower

Stocks edge lower

Stocks edged lower on Karachi Stock Exchange Thursday as investors trimmed their positions amid a poor law and order situation in the city. The benchmark KSE-100 index shed 35 points to close at 29,417.20 points against 29,452.23 points Wednesday. Samar I
Published 06 Jun, 2014 12:00am
Stocks edge lower

Stocks edge lower

Stocks edged lower on Karachi Stock Exchange Thursday as investors trimmed their positions amid a poor law and order situation in the city. The benchmark KSE-100 index shed 35 points to close at 29,417.20 points against 29,452.23 points Wednesday. Samar I
Published 06 Jun, 2014 12:00am
Prime Minister approves health insurance scheme for the poor

Prime Minister approves health insurance scheme for the poor

Prime Minister Muhammad Nawaz Sharif on Thursday approved the National Health Insurance Scheme for the poor in Pakistan. The Prime Minister chaired a meeting to give in principle approval to launch the Health Insurance Program that will cover, in phases,
Published 06 Jun, 2014 12:00am
Prime Minister approves health insurance scheme for the poor

Prime Minister approves health insurance scheme for the poor

Prime Minister Muhammad Nawaz Sharif on Thursday approved the National Health Insurance Scheme for the poor in Pakistan. The Prime Minister chaired a meeting to give in principle approval to launch the Health Insurance Program that will cover, in phases,
Published 06 Jun, 2014 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Thursday (June 05, 2014).

Published 06 Jun, 2014 12:00am
Prime Minister approves health insurance scheme for the poor

Prime Minister approves health insurance scheme for the poor

Prime Minister Muhammad Nawaz Sharif on Thursday approved the National Health Insurance Scheme for the poor in Pakistan. The Prime Minister chaired a meeting to give in principle approval to launch the Health Insurance Program that will cover, in phases,
Published 06 Jun, 2014 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Thursday (June 05, 2014).

Published 06 Jun, 2014 12:00am
Government intends to issue NICOP, passport

Government intends to issue NICOP, passport

Minister for Information and Broadcasting Pervez Rashid Thursday said that the government has decided in principle to issue a National Identity Card for Overseas Pakistanis (NICOP) and a passport to Muttahida Qaumi Movement (MQM) chief Altaf Hussain who i
Published 06 Jun, 2014 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

JLI Meeseq Fund Rates on Thursday (June 05, 2014).

Published 06 Jun, 2014 12:00am
Government intends to issue NICOP, passport

Government intends to issue NICOP, passport

Minister for Information and Broadcasting Pervez Rashid Thursday said that the government has decided in principle to issue a National Identity Card for Overseas Pakistanis (NICOP) and a passport to Muttahida Qaumi Movement (MQM) chief Altaf Hussain who i
Published 06 Jun, 2014 12:00am
Acting HC meets Altaf after UK allows 20-minute access

Acting HC meets Altaf after UK allows 20-minute access

Acting Pakistan High Commissioner in London Imran Mirza along with two consular officers on Thursday was granted consular access to Muttahida Quami Movement (MQM) chief Altaf Hussain, who conveyed Prime Minister Nawaz Sharif's good wishes for his health,
Published 06 Jun, 2014 12:00am
Acting HC meets Altaf after UK allows 20-minute access

Acting HC meets Altaf after UK allows 20-minute access

Acting Pakistan High Commissioner in London Imran Mirza along with two consular officers on Thursday was granted consular access to Muttahida Quami Movement (MQM) chief Altaf Hussain, who conveyed Prime Minister Nawaz Sharif's good wishes for his health,
Published 06 Jun, 2014 12:00am
US cotton down second day as cooler Texas weather in focus

US cotton down second day as cooler Texas weather in focus

US cotton futures fell for a second day on Thursday as traders and investors looked beyond encouraging weekly sales to focus on cooler weather in the near term in Texas that could boost the crop in the top cotton growing state. The most-active July cotton
Published 06 Jun, 2014 12:00am
Shanghai copper up

Shanghai copper up

Shanghai copper prices calmed despite worries about a probe into metals financing at China's third-largest port. "Demand globally is looking pretty good," said analyst Joel Crane at Morgan Stanley in Melbourne. "Obviously in China growth is lower than it
Published 06 Jun, 2014 12:00am
Aluminium up on warehouse court case, copper slips

Aluminium up on warehouse court case, copper slips

Aluminium rose on Thursday as investors bet that material tied up in warehouse backlogs would remain off the market due to extended legal wrangling. Copper dipped after a bank suspended some metals financing due to a Chinese port investigation, prompting
Published 06 Jun, 2014 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (June 05, 2014).

Published 06 Jun, 2014 12:00am
Oil futures pare losses

Oil futures pare losses

Brent turned slightly higher and US crude oil pared losses on Thursday in choppy trading as the euro and dollar reacted to the European Central Bank's (ECB) interest rate cut. The dollar initially strengthened against the euro after the ECB cut interest r
Published 06 Jun, 2014 12:00am
Rubber down

Rubber down

Tokyo rubber futures ended lower on Thursday, tracking falling oil prices, but firmness in share prices helped prevent rubber from falling significantly, dealers said. The Tokyo Commodity Exchange rubber contract for November delivery dropped 2 yen to set
Published 06 Jun, 2014 12:00am
Wheat rises

Wheat rises

US wheat futures edged higher on Wednesday on a round of mild bargain buying following a 10-session losing streak that pushed prices to a three-month low, traders said. "Wheat is due for a bounce, but any rebound may be limited unless some major problems
Published 06 Jun, 2014 12:00am
Palm oil falls

Palm oil falls

Malaysian palm oil futures fell on Thursday, giving up gains in early trade to fall in nine out of 10 sessions as worries about dwindling demand and losses in overseas soy markets weighed. The benchmark August contract on the Bursa Malaysia Derivatives Ex
Published 06 Jun, 2014 12:00am
Cocoa up, sugar down

Cocoa up, sugar down

ICE cocoa futures pared gains after tapping a 33-month high on Thursday, as buying dried up after rallying for the past two weeks, while raw sugar quietly eased to a five-week low after falling below a psychological support level. Coffee futures were litt
Published 06 Jun, 2014 12:00am
Gold falls in New York

Gold falls in New York

Gold slipped on Wednesday as investors fretted over the possibility of an upcoming European Central Bank rate cut and uncertainties over key US jobs data due later this week. "The markets are really in suspended animation ahead of the ECB meeting in parti
Published 06 Jun, 2014 12:00am
Gold little changed in Asia

Gold little changed in Asia

Gold was little changed near a four-month low on Thursday but faced a risk of more losses if the European Central Bank (ECB) meets expectations to cut rates, a move that could strengthen the dollar and hurt bullion. Spot gold was flat at $1,243.51 an ounc
Published 06 Jun, 2014 12:00am
Gold jumps in Europe

Gold jumps in Europe

Gold jumped 1 percent on Thursday, rising further from this week's four-month low, after the European Central Bank cut interest rates to record lows and its chief Mario Draghi unveiled a package of new stimulus measures. Dealers who had bet against gold i
Published 06 Jun, 2014 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (June 05, 2014).

Published 06 Jun, 2014 12:00am
US MIDDAY: corn and soyabeans tumble

US MIDDAY: corn and soyabeans tumble

US corn futures dropped for a fourth straight day on Thursday, hitting the lowest point since February, as favourable Midwest crop weather bolstered expectations for a bumper harvest this autumn and triggered fund selling. Soyabean prices fell 1 percent t
Published 06 Jun, 2014 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (June 05, 2014).
Published 06 Jun, 2014 12:00am
US MIDDAY: gold soars

US MIDDAY: gold soars

Gold rose about 1 percent early on Thursday, and seemed headed for its biggest gain in three weeks, after the European Central Bank cut interest rates to record lows and unveiled a package of new stimulus measures. Dealers said the market could gain furth
Published 06 Jun, 2014 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 (June 05, 2014).

Published 06 Jun, 2014 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 (June 05, 2014).

Published 06 Jun, 2014 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 (June 05, 2014).

Published 06 Jun, 2014 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 (June 05, 2014).

Published 06 Jun, 2014 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 06 Jun, 2014 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 06 Jun, 2014 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 06 Jun, 2014 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 06 Jun, 2014 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:

Published 06 Jun, 2014 12:00am
Google to open innovation Campus in Poland

Google to open innovation Campus in Poland

Google announced Wednesday it would open a centre for tech start-ups in Warsaw in 2015, marking the IT giant's third such Campus after similar spaces in London and Tel Aviv. The 1,800-square-metre (19,500-square-foot) centre will open in the first half of
Published 06 Jun, 2014 12:00am
Tesco reports sales hit by foreign supermarket competition

Tesco reports sales hit by foreign supermarket competition

Supermarket group Tesco, Britain's biggest retailer, on Wednesday posted sliding first-quarter sales, hit by intense competition from foreign-owned outlets and restructuring costs. Tesco continues to faces fierce competition from British supermarket rival
Published 06 Jun, 2014 12:00am
Australia economy gathers pace, but confidence still lags

Australia economy gathers pace, but confidence still lags

Australia boasted its fastest growth in two years last quarter as exports surged by the most since 1999, though the long-awaited revival may have already been endangered by a government crusade for fiscal rectitude. The year certainly started well enough,
Published 06 Jun, 2014 12:00am
Bangladesh to seek Chinese help to build deep sea port

Bangladesh to seek Chinese help to build deep sea port

Bangladeshi Prime Minister Sheikh Hasina is likely to seek Chinese funding to build a deep sea port in the Bay of Bengal when she visits Beijing later this week, officials said Wednesday. The proposed port on Sonadia Island off Bangladesh's south-east coa
Published 06 Jun, 2014 12:00am
Intel backs survival of PCs in world of shrinking tech

Intel backs survival of PCs in world of shrinking tech

US computer chip giant Intel declared its faith in the future of the personal computer Tuesday, in a landscape increasingly dominated by super-slim tablets and mobiles. Speaking in Taiwan on the first day of Computex, Asia's largest tech show, new Intel p
Published 06 Jun, 2014 12:00am
Facebook buys Finland's Pryte to boost Web reach

Facebook buys Finland's Pryte to boost Web reach

Facebook agreed Tuesday to buy the Finnish-based tech start-up Pryte, which enables smartphone users to purchase mobile data on demand, the companies announced.
Published 06 Jun, 2014 12:00am
Tax Memorandum 2014

Tax Memorandum 2014

ALTERNATE CORPORATE TAX (ACT): A concept of ACT has been introduced. Under this concept of taxation, which is prevalent in many other jurisdictions including USA and India, the minimum tax liability in case of a company is higher of tax on accounting inco
Published 06 Jun, 2014 12:00am
Tax Memorandum 2014

Tax Memorandum 2014

ALTERNATE CORPORATE TAX (ACT): A concept of ACT has been introduced. Under this concept of taxation, which is prevalent in many other jurisdictions including USA and India, the minimum tax liability in case of a company is higher of tax on accounting inco
Published 06 Jun, 2014 12:00am
Tax Memorandum 2014

Tax Memorandum 2014

ALTERNATE CORPORATE TAX (ACT): A concept of ACT has been introduced. Under this concept of taxation, which is prevalent in many other jurisdictions including USA and India, the minimum tax liability in case of a company is higher of tax on accounting inco
Published 06 Jun, 2014 12:00am
US FOB Gulf soyabean basis offers fall

US FOB Gulf soyabean basis offers fall

US FOB Gulf soyabean basis offers fell for old-crop loadings for the second straight day with lower processor bids and increased competition from South America feeding the pressure, traders said on Wednesday. FOB corn basis offers were unchanged while whe
Published 06 Jun, 2014 12:00am
Jordan tenders to buy hard wheat and barley

Jordan tenders to buy hard wheat and barley

Jordan's state grain buyer has issued two international tenders to purchase 100,000 tonnes of hard milling wheat and 100,000 tonnes of animal feed barley, both to be sourced from optional origins, European traders said on Thursday. Tender deadline for the
Published 06 Jun, 2014 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 122,943 tonnes of cargo comprising 73,485 tonnes of import cargo and 49,458 tonnes of export cargo including 6,457 loaded and empty containers during the last 24 hours ending at 0700 hours on Thursday. The total import cargo of 73
Published 06 Jun, 2014 12:00am
Oil cake market rates

Oil cake market rates

Deliveries were unchanged on the forward cottonseeds oilcake market on Thursday in the process of trading, dealers said. The July contract closed at Rs 1752.80 and it opened the session with no change in the morning session, they said. The July vaida ende
Published 06 Jun, 2014 12:00am
Modest business witnessed in absence of main participants

Modest business witnessed in absence of main participants

Most of the participants were on the sideline on the cotton market on Thursday due to lack of interest in new deals, dealers said. The official spot rate was unchanged at Rs 6,850, they added. In the ready session, approximately 2000 bales of cotton chang
Published 06 Jun, 2014 12:00am
Sluggish trading seen on cotton market

Sluggish trading seen on cotton market

Thursday saw sluggish trading in the ready cotton market in Karachi following two days of virtual closures in the metropolis because of the Muttahida Qaumi Movement (MQM) leader Altaf Hussain's arrest in London on charges of money laundering. Current cott
Published 06 Jun, 2014 12:00am
Sluggish trading seen on cotton market

Sluggish trading seen on cotton market

Thursday saw sluggish trading in the ready cotton market in Karachi following two days of virtual closures in the metropolis because of the Muttahida Qaumi Movement (MQM) leader Altaf Hussain's arrest in London on charges of money laundering. Current cott
Published 06 Jun, 2014 12:00am
Mixed trade patterns on grain market

Mixed trade patterns on grain market

Mixed patterns were seen on the wholesale grain market on Thursday in the process of trading, dealers said. On the cereals side, Moong Punjab fell sharply by Rs 250 to Rs 11000, Moong Peshawar maintained last closing level at Rs 12500, wheat New Bardan sh
Published 06 Jun, 2014 12:00am
Zimbabwe mines must still cede majority shares

Zimbabwe mines must still cede majority shares

Mining companies in Zimbabwe will still have to cede a majority shareholding to local investors under planned changes to a controversial black-empowerment law, a ruling party spokesman said on Thursday. "It was agreed that where mining is concerned, the s
Published 06 Jun, 2014 12:00am
Brazil's bank sees economy slowing, but eyes inflation

Brazil's bank sees economy slowing, but eyes inflation

The Brazilian economy will grow less this year than in 2013, but policymakers remain on their guard to battle high inflation, the central bank said on Thursday, signalling borrowing costs could remain on hold for some time. In the minutes of the central b
Published 06 Jun, 2014 12:00am
Venezuela opposition leader to face trial over demonostrations

Venezuela opposition leader to face trial over demonostrations

A Venezuelan opposition leader has been ordered to stand trial on charges of instigating violence at an anti-government demonstration in February, prosecutors said Thursday. A judge ruled that Leopoldo Lopez, who has been in custody for more than three mo
Published 06 Jun, 2014 12:00am
BNP Paribas chief's head on the line in fine row

BNP Paribas chief's head on the line in fine row

The board of French BNP Paribas is split over strategy in the face of a likely huge fine by US authorities on charges of sanctions-busting, with the fate of its chief executive on the line, the Wall Street Journal reported on Thursday. The split is also c
Published 06 Jun, 2014 12:00am
Wolseley posts flat quarterly profit

Wolseley posts flat quarterly profit

Wolseley, the world's biggest distributor of plumbing and heating products, on Tuesday logged flat third-quarter profits, hit by foreign exchange fluctuations. Operational profit rose by just 0.6 percent to £155 million ($260 million, 190 million euros) i
Published 06 Jun, 2014 12:00am
Wolseley posts flat quarterly profit

Wolseley posts flat quarterly profit

Wolseley, the world's biggest distributor of plumbing and heating products, on Tuesday logged flat third-quarter profits, hit by foreign exchange fluctuations. Operational profit rose by just 0.6 percent to £155 million ($260 million, 190 million euros) i
Published 06 Jun, 2014 12:00am
Deutsche Bank sets issue price in bid to raise 6.75 billion euros

Deutsche Bank sets issue price in bid to raise 6.75 billion euros

Deutsche Bank, Germany's biggest lender, said on Thursday the 300 million new shares it is issuing in its planned capital hike will be issued at 22.50 euros each. The issue is intended to raise nearly 7.0 billion euros ($9.5 billion) to strengthen the bal
Published 06 Jun, 2014 12:00am
Finland once eurozone 'model pupil' stuck in recession

Finland once eurozone 'model pupil' stuck in recession

Finland is in its longest recession for two decades, official data showed on Thursday, the same day as the ECB announced interest rate cuts to stimulate the European economy. Finland's output contracted by 0.4 percent in the first quarter, which was the e
Published 06 Jun, 2014 12:00am