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Archive - 2011-01-13
Zardari off to US
Business & Finance

Zardari off to US

ISLAMABAD: President Asif Ali Zardari has left Islamabad to visit the United States, the foreign ministry confirmed on T
Published 13 Jan, 2011 01:23pm
Euro too strong against dollar: Sarkozy
Top News

Euro too strong against dollar: Sarkozy

BLAGNAC: France's President Nicolas Sarkozy said Thursday that the euro is still too strong against the dollar and the e
Published 13 Jan, 2011 01:14pm
Euro too strong against dollar: Sarkozy
Top News

Euro too strong against dollar: Sarkozy

BLAGNAC: France's President Nicolas Sarkozy said Thursday that the euro is still too strong against the dollar and the e
Published 13 Jan, 2011 01:14pm
India angered by China visa policy
Asia

India angered by China visa policy

NEW DELHI: India reacted angrily on Thursday to an extension of what it views as a provocative Chinese visa policy towar
Published 13 Jan, 2011 11:39am
CPI: Ah! Government borrowing
BR Research

CPI: Ah! Government borrowing

Did you know that the basket of consumer items bought for Rs100 in December 2009 was priced at Rs115.46 twelve months later. Its a tanking f
Published 13 Jan, 2011 12:00am
Vegetable diplomacy
BR Research

Vegetable diplomacy

Inherent rivalry between India and Pakistan keeps taking different forms at different times. Most of the times, its a political garb; at oth
Published 13 Jan, 2011 12:00am
Tax policy: options for restructuring public finance

Tax policy: options for restructuring public finance

What do we mean by the term tax? A tax is a compulsory contribution towards a country's expenses raised by the government from people's salaries, property and from the sale of goods and services, or in other words it is raising of revenues to finance gove
Published 13 Jan, 2011 12:00am
Clinton visit puts terrorism in Yemen under spotlight

Clinton visit puts terrorism in Yemen under spotlight

The planned visit of US Secretary of State Hillary Rodham Clinton to Yemen threatens to become an uncomfortable affair in the light of information on her country's role there leaked recently by whistle-blowing website WikiLeaks. Yemen is one of the poores
Published 13 Jan, 2011 12:00am
Byco clarification

Byco clarification

This refers to the news item "PPL being forced to continue supply to Bosicor" by Zafar Bhutta carried by Business Recorder on January 11, 2011. At the outset, we would like to express our disappointment on the abovementioned news item, which was pu
Published 13 Jan, 2011 12:00am
Consular Corps' office-bearers re-elected

Consular Corps' office-bearers re-elected

The Annual General Meeting of Consular Corps Sindh Karachi was held at the Consulate General of Republic of Yemen in Karachi. The members unanimously re-elected office bearers for the year 2011-12.
Published 13 Jan, 2011 12:00am
'Listed companies likely to register double-digit earnings growth'

'Listed companies likely to register double-digit earnings growth'

After four years' flat earnings, the listed companies' profits are likely to post double-digit earnings growth of 20 percent in 2011 that would lead the market to achieve the index target of 14,000 points this year, analysts said. This earnings growth wil
Published 13 Jan, 2011 12:00am
APNS thanks Prime Minister for accepting its requests

APNS thanks Prime Minister for accepting its requests

"The APNS expresses its profound gratitude to the Prime Minister, Syed Yousuf Raza Gilani for accepting the APNS requests during a meeting with Executive Committee of the APNS at Islamabad on January 10, 2011. Hameed Haroon, President APNS apprised the pr
Published 13 Jan, 2011 12:00am
SECP takes brokerage house to court

SECP takes brokerage house to court

The Securities and Exchange Commission of Pakistan (SECP) has filed a criminal complaint in a court against Eastern Capital Limited, an ex-member of Karachi Stock Exchange (KSE), and all those, including its director, involved in non-transfer of shares/fu
Published 13 Jan, 2011 12:00am
Sindh Assembly reposes its confidence in Zardari

Sindh Assembly reposes its confidence in Zardari

The legislators belonging to the ruling PPP on Wednesday succeeded in getting another resolution passed with a unanimous vote at the Sindh Assembly session, affirming their trust in Asif Zardari as President of Pakistan and co-chairman of the party. Besid
Published 13 Jan, 2011 12:00am
Heim textile trade fair begins in Frankfurt

Heim textile trade fair begins in Frankfurt

Heim textile, one of the biggest international trade fairs for home and contract textiles, is being held from January 12, 2011 to January 15, 2011 at Frankfurt-Germany. TDAP has regularly been organising participation in this event for last many years. Fo
Published 13 Jan, 2011 12:00am
Humayun Bashir elected ABC President

Humayun Bashir elected ABC President

The American Business Council of Pakistan (ABC) announced that following its Executive Committee elections, Humayun Bashir, Country General, IBM, was unanimously elected ABC President and Saad Amanullah Khan Chief Executive Officer, Gillette Pakistan Limi
Published 13 Jan, 2011 12:00am
Pakistani team invited to 'International Pow Wow' show in San Francisco

Pakistani team invited to 'International Pow Wow' show in San Francisco

To promote bilateral travel and trade relations between Pakistan and United States, the Department of US Commercial Service, US Consulate-General, Karachi, will organise a trade show under the name and style of 'International Pow Wow" at the Moscone Conve
Published 13 Jan, 2011 12:00am
Mobilink, Nadra join hands for utility bills' payment solution

Mobilink, Nadra join hands for utility bills' payment solution

Mobilink, Pakistan's market leader in cellular services and a part of Orascom Telecom Holding (OTH) has formally collaborated with Nadra Technologies Ltd to facilitate payment of Utility Bills. This service will be available Free-of-Charge and around the
Published 13 Jan, 2011 12:00am
MTBs auction: Rs 160.56 billion bids accepted

MTBs auction: Rs 160.56 billion bids accepted

The State Bank of Pakistan on Wednesday accepted bids worth Rs 160.56 billion for the sale of Government of Pakistan Market Treasury Bills. Overall, a heavy precipitation was witnessed in the MTBs auction, as overall Rs 198.56 billion worth bids were rece
Published 13 Jan, 2011 12:00am
MTBs auction: Rs 160.56 billion bids accepted

MTBs auction: Rs 160.56 billion bids accepted

The State Bank of Pakistan on Wednesday accepted bids worth Rs 160.56 billion for the sale of Government of Pakistan Market Treasury Bills. Overall, a heavy precipitation was witnessed in the MTBs auction, as overall Rs 198.56 billion worth bids were rece
Published 13 Jan, 2011 12:00am
Environment Ministry sponsoring six mega projects

Environment Ministry sponsoring six mega projects

Ministry of Environment is sponsoring as many as six mega projects at a total cost of Rs 12 billion in all provinces, AJK and Fata. According to written information provided to National Assembly Secretariat, the main objective of these projects is to enha
Published 13 Jan, 2011 12:00am
Substandard gas cylinders: action demanded against manufacturers

Substandard gas cylinders: action demanded against manufacturers

The All Pakistan Distributors Association of Liquified Petroleum Gas (LPG) has called for launching a grand operation against manufacturers of substandard cylinders to mitigate risks to human lives. According to estimates 2,780 human lives have been lost
Published 13 Jan, 2011 12:00am
Shehryar Taseer vows to uphold cause of PPP in future

Shehryar Taseer vows to uphold cause of PPP in future

The son of late Governor Punjab Salmaan Taseer on Wednesday vowed to uphold the cause of PPP in future and said that if he joined politics he would use Pakistan People's Party (PPP) platform. Talking to the BBC, Shehryar Taseer said his father's killer ha
Published 13 Jan, 2011 12:00am
Allama Iqbal airport, Motorway closed amid dense fog

Allama Iqbal airport, Motorway closed amid dense fog

Allama Iqbal International Airport and Motorway have been closed owing to thick fog on Wednesday. The Motorway stretch from Thokar Niaz Baig to Sheikhupura has been shut down due to dense fog, causing massive trouble to commuters, private news channel rep
Published 13 Jan, 2011 12:00am
Free stalls at Livestock exposition

Free stalls at Livestock exposition

The exhibitors will get free-of-cost stalls in the first ever Sindh Livestock, Dairy, Fisheries and Poultry Expo to be held at Karachi Expo Centre from February 7. This was stated by Advisor to CM on Investment Zubair Motiwala while presiding over a meeti
Published 13 Jan, 2011 12:00am
'Imposition of RGST to cast negative impacts on economy'

'Imposition of RGST to cast negative impacts on economy'

Advisor to Chief Minister Sindh on Investment, Zubair Motiwala has warned the government that imposing Reformed General Sales Tax (RGST) in isolation and without consulting stakeholders will have serious negative impact on economic
Published 13 Jan, 2011 12:00am
Sharmila underlines importance of education

Sharmila underlines importance of education

Provincial Advisor to Sindh Chief Minister on Information, Sharmila Farooqui on Wednesday said that education plays vital role in the rise and fall of nations and those nations which avoid education, would not progress. She said this while speaking as a c
Published 13 Jan, 2011 12:00am
1,692 human trafficking agents held in 2010

1,692 human trafficking agents held in 2010

The Federal Investigation Agency's (FIA) Immigration-Wing Wednesday revealed to Senate Standing Committee on Overseas Pakistanis that 1,692 agents involved in human trafficking were arrested last year, but very few of them were convicted.
Published 13 Jan, 2011 12:00am
Japan donates $70 million to WFP Project

Japan donates $70 million to WFP Project

The United Nations World Food Programme (WFP) Pakistan has welcomed a generous contribution of $70 million from the Government of Japan, which is part of the country's recently announced assistance package of $500 million for Pakistan.
Published 13 Jan, 2011 12:00am
Malaysian investors to invest in Sindh transport sector soon

Malaysian investors to invest in Sindh transport sector soon

The Malaysian investors would invest in the transport sector in Sindh. This was stated by Sindh Transport Minister Akhtar Hussain Jadoon. He was chairing a meeting of the officials of the Department here on Wednesday. The Minister informed that during his
Published 13 Jan, 2011 12:00am
US MIDDAY: gold eases

US MIDDAY: gold eases

Gold eased on Wednesday after a successful Portuguese bond auction soothed some concern over the eurozone's finances and removed some investor desire for safe-haven assets, though a softer dollar stemmed the slide. Spot gold was bid at $1,378.72 an ounce
Published 13 Jan, 2011 12:00am
US MIDDAY: copper stays up

US MIDDAY: copper stays up

Copper closed up for a second consecutive day on Wednesday, as another round of positive economic data reinforced stronger demand prospects globally for industrial metals in 2011. Copper, often seen as a good barometer for economic conditions, rallied aft
Published 13 Jan, 2011 12:00am
US MIDDAY: grain futures up

US MIDDAY: grain futures up

Chicago Board of Trade grain and soya complex early trade on Wednesday. CBOT grains and soy boosted by a bullish USDA report but additional support stemmed from news Argentine farmers to halt all grains and oilseeds sales from Monday for a week to protest
Published 13 Jan, 2011 12:00am
US MIDDAY: coffee rises

US MIDDAY: coffee rises

May arabicas on ICE rose 2.8 cents or 1.2 percent to $2.3890 per lb early on Wednesday, below their 13-1/2 year peak of $2.4350, touched on December 22. ICE May cocoa traded $37 or 1.3 percent higher at $2,994 a tonne at 1309 GMT. ICE raw sugar futures we
Published 13 Jan, 2011 12:00am
Gold retreats in Europe

Gold retreats in Europe

Gold surrendered early gains on Wednesday to edge lower as better risk appetite after a well-received Portuguese bond auction removed some safe-haven support, though a softer dollar underpinned prices. Spot gold was bid at $1,378.40 an ounce at 1423 GMT a
Published 13 Jan, 2011 12:00am
US MIDDAY: US gold stays up

US MIDDAY: US gold stays up

US gold futures ended higher for a second day on Tuesday on rallying oil prices and as deepening worries over the severity of the European debt crisis prompted safe-haven buying. Benchmark COMEX February gold futures settled up $10.2 at $1,384.30 an ounce
Published 13 Jan, 2011 12:00am
Gold edges up in Asia

Gold edges up in Asia

Bullion edged up in thin trade on Wednesday, with sentiment supported by high oil prices, lingering worries about the severity of the European debt crisis and a shortage of gold bars in Asia. Spot gold rose $4.50 an ounce to $1,384.95 an ounce by 0650 GMT
Published 13 Jan, 2011 12:00am
Brent oil hits 27-month high; $100 looms

Brent oil hits 27-month high; $100 looms

Brent crude prices rose on Wednesday to near $99 a barrel after production shutdowns, falling US inventories and growing demand sent oil toward triple digits for the first time since 2008. Crude gained after a US government report showed oil inventories f
Published 13 Jan, 2011 12:00am
Liffe coffee jumps

Liffe coffee jumps

Liffe March robusta coffee ended up $57 at $2,167 a tonne on Wednesday after earlier climbing to a peak of $2,185, the highest level for the second month since September 2008. Rise driven by fund and roaster buying. Market supported by concern about the o
Published 13 Jan, 2011 12:00am
US soyabeans plunge

US soyabeans plunge

Soyabean futures on the Chicago Board of Trade closed down sharply, erasing Monday's gains amid fund selling and position squaring ahead of Wednesday's US Agriculture Department crop report, traders said. Funds sellers of an estimated 7,000 soyabean futur
Published 13 Jan, 2011 12:00am
Malaysian palm oil tumbles to three-week low

Malaysian palm oil tumbles to three-week low

Malaysia palm oil tumbled to a three-week on Wednesday on a technical correction ahead of a key US crop report that is likely to show tighter supplies. Palm oil rallied to a 33-month high last week on concerns that heavy rains in palm oil-producing Southe
Published 13 Jan, 2011 12:00am
US MIDDAY: New York sugar, cocoa climb

US MIDDAY: New York sugar, cocoa climb

Raw sugar futures on ICE surged on Tuesday, lifted by speculative fund buying as possible delays to exports from India heightened concern about nearby supply tightness. Coffee and cocoa futures also settled higher, finding spillover buoyancy from a strong
Published 13 Jan, 2011 12:00am
Tokyo rubber futures hit new high

Tokyo rubber futures hit new high

Tokyo rubber futures jumped 2 percent to hit another record high on Wednesday, supported by firm oil prices and strong demand on the fundamental front, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for June delivery rose 9.2
Published 13 Jan, 2011 12:00am
Copper springs back

Copper springs back

Copper rose on Wednesday, boosted by positive economic data and expectations of stronger demand from top metals consumer China, with a weaker US dollar also supporting prices. Benchmark copper on the London Metal Exchange closed at $9,685 a tonne from $9,
Published 13 Jan, 2011 12:00am
Shanghai copper gains

Shanghai copper gains

Shanghai's benchmark third-month copper futures contract gained 0.7 percent to 70,990 yuan a tonne on Wednesday. Aluminium rose $4.75 to $2,501.75. Prices of the lightweight metal have been surprisingly resilient, traders noted, down around 0.8 percent, v
Published 13 Jan, 2011 12:00am
US copper rallies

US copper rallies

Copper snapped a five-day losing streak with a 2-percent rally on Tuesday, as investors continued to price in stronger 2011 demand outlooks for top consumers China and the United States. The move propped prices back up to the middle of their New Year trad
Published 13 Jan, 2011 12:00am
New York cotton futures settle higher

New York cotton futures settle higher

US cotton futures closed higher on Wednesday on investor buying, boosted by a strong grains complex, a weak dollar and a rally in equities after a strong debt sale by Portugal, analysts said. The key March cotton contract on ICE Futures US rose 0.72 cent
Published 13 Jan, 2011 12:00am
Talks could be West's 'last chance'

Talks could be West's 'last chance'

Talks next week between Iran and major powers concerned about its nuclear programme could be the "last chance" for the West because Tehran's atomic capability is improving, a senior Iranian official was quoted as saying. Ali Asghar Soltanieh, Tehran's nuc
Published 13 Jan, 2011 12:00am
Bangladesh opens probe into microlender allegations

Bangladesh opens probe into microlender allegations

Bangladesh began on Wednesday investigating allegations that Nobel Prize winning microlender Grameen bank had illegally diverted aid funds after a Norwegian television documentary cast doubts about its tax records. Last year's documentary said Grameen, le
Published 13 Jan, 2011 12:00am
Tajikistan agrees to give land to China

Tajikistan agrees to give land to China

Tajikistan has agreed to give away a portion of its territory to neighbouring China in a bid to put an end to a land dispute dating back more than a century. Parliament voted Wednesday in favour of giving up around 1,000 square kilometers of land in the C
Published 13 Jan, 2011 12:00am
Brisbane prepares for deadly floods to peak

Brisbane prepares for deadly floods to peak

Australia's third-largest city Brisbane braced for the arrival Thursday of the peak of its worst floods in decades, with more than 30,000 homes under threat, as the death toll rose to 13. Thousands of people fled to higher ground and Brisbane's centre was
Published 13 Jan, 2011 12:00am
Haiti grieves its quarter million dead

Haiti grieves its quarter million dead

Haiti on Wednesday marked a painful first anniversary of the earthquake that killed nearly a quarter-million of its people, with the country gripped by political instability and still struggling to get back on its feet. The usually teeming streets of the
Published 13 Jan, 2011 12:00am
China says stealth jet test flight not a threat

China says stealth jet test flight not a threat

China told the United States on Wednesday its first test flight of a stealth fighter jet should not be seen as a threat and reiterated it had no intention of challenging US military might in the Pacific. China confirmed on Tuesday it held its first test f
Published 13 Jan, 2011 12:00am
Delhi Muslims protest over mosque demolition

Delhi Muslims protest over mosque demolition

Hundreds of Muslims clashed with police in central New Delhi on Wednesday during an attempt by local authorities to demolish an illegally built mosque, officials said. The "Noor Mosque" in the Muslim-dominated upscale Nizamuddin area of the Indian capital
Published 13 Jan, 2011 12:00am
UK lawmaker quits over expense claims fraud

UK lawmaker quits over expense claims fraud

A House of Commons legislator says he is quitting Parliament after pleading guilty to dishonestly claiming about 14,000 pounds ($22,000) in expense payments. Eric Illsley, 55, said Wednesday he would step down as a lawmaker, which will trigger a special e
Published 13 Jan, 2011 12:00am
Brazil floods, mudslides leave over 100 dead

Brazil floods, mudslides leave over 100 dead

Days of flooding and mudslides have left at least 109 people dead in south-east Brazil, with a mountainous region near Rio de Janeiro bearing the brunt Wedesday. Local officials and media said 96 people died in the Serrana mountain region north of Rio Tue
Published 13 Jan, 2011 12:00am
Gaza situation 'very dangerous,' Arabs warn Hamas

Gaza situation 'very dangerous,' Arabs warn Hamas

Hamas was holding "urgent" talks with militant groups on Wednesday to pass on a warning from Arab leaders about firing rockets at Israel, faction leaders told AFP. The meeting was taking place at a Gaza City hotel just days after Hamas said it would ensur
Published 13 Jan, 2011 12:00am
Kuwaiti Prime Minister in first Iraq visit since war

Kuwaiti Prime Minister in first Iraq visit since war

Iraq and Kuwait agreed on Wednesday to step up efforts to resolve issues dating from Iraq's 1990 invasion of the emirate, as a Kuwaiti premier visited Baghdad for the first time since before that conflict. Sheikh Nasser Mohammad al-Ahmad al-Sabah was rece
Published 13 Jan, 2011 12:00am
Yuan rises

Yuan rises

The yuan ended up on the dollar on Wednesday as the People's Bank of China set its reference rate at a record high, kicking off a new leg of appreciation for the yuan ahead of President Hu Jintao's visit to the United States.
Published 13 Jan, 2011 12:00am
Asian currencies: Taiwan dollar hits 13-year high

Asian currencies: Taiwan dollar hits 13-year high

The Indonesian rupiah was little changed versus the dollar on Wednesday, stabilising after a recent sell-off, and the Taiwan dollar hit a 13-year high, with both currencies supported by foreign fund inflows. Traders said dollar-selling intervention by Ind
Published 13 Jan, 2011 12:00am
Indian rupee rises

Indian rupee rises

The Indian rupee flip-flopped tailing the local stock market before closing stronger on Wednesday amid mixed factors including sharply low November industrial output data, rate hike worries, capital inflows and importer dollar demand. The partially conver
Published 13 Jan, 2011 12:00am
Swiss franc down versus euro

Swiss franc down versus euro

The Swiss franc traded lower against the euro in thin trading on Wednesday, extending losses from the previous two sessions as traders focused on a debt sale by highly indebted eurozone member Portugal later in the day. The franc fell 0.4 percent against
Published 13 Jan, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 71.00/71.00 (previous 71.00/71.00). Call Money Rates: 10.00-15.00 percent (previous 13.00-15.00 percent).
Published 13 Jan, 2011 12:00am
Euro rallies versus dollar

Euro rallies versus dollar

The euro rallied on Tuesday on speculation eurozone officials could raise the effective lending capacity of the bloc's rescue fund and on talk of increased Portuguese bond buying by the European Central Bank. The euro climbed closer to $1.30 as the New Yo
Published 13 Jan, 2011 12:00am
Early trade in New York: Euro rallies broadly

Early trade in New York: Euro rallies broadly

The euro rose against the dollar for a third day on Wednesday but gains may be short-lived as a Portuguese debt sale did little to quell fears that indebted eurozone countries will struggle to meet their funding needs. Gains in the stock and commodities m
Published 13 Jan, 2011 12:00am
Euro holds gains in London

Euro holds gains in London

The euro held earlier gains on Wednesday after strong demand at a Portuguese government debt auction quelled some immediate concerns about the country's funding problems. The euro barely moved after Lisbon sold 1.249 billion euros in debt, including 10-ye
Published 13 Jan, 2011 12:00am
Euro slightly up in Asia

Euro slightly up in Asia

The euro made thin gains on Wednesday, extending this week's rebound but with limited ability to rise much as caution gripped the market ahead of debt sales by highly indebted eurozone countries. Portugal is due to tap bond investors on Wednesday while Sp
Published 13 Jan, 2011 12:00am
Sterling rises versus dollar

Sterling rises versus dollar

Sterling rose towards a one-month high against the dollar on Wednesday as steady buying from Asian sovereign accounts helped to offset the impact from data which showed Britain's trade deficit widening to record levels. Britain's trade gap widened to 8.73
Published 13 Jan, 2011 12:00am
Australian dollar off one-month low

Australian dollar off one-month low

The Australian dollar plumbed one-month lows on Wednesday on worries about the nation's damaging floods, but regained some ground after upbeat data caught the market short, a risk that looms large ahead of the employment data. Employment has sped past all
Published 13 Jan, 2011 12:00am
FTSE at 31-month high

FTSE at 31-month high

Britain's top share index hit a 31-month closing high on Wednesday, boosted by banks after a successful bond sale in Portugal eased investor concerns over Europe's sovereign debt crisis, and as miners tracked metals prices higher. The FTSE 100 ended up 36
Published 13 Jan, 2011 12:00am
Middle East markets: Kuwait's Zain dips as Etisalat deadline nears

Middle East markets: Kuwait's Zain dips as Etisalat deadline nears

Kuwait's Zain slumped to a month-low on Wednesday as the deadline for a stake sale to Abu Dhabi's Etisalat neared. Zain fell 1.4 percent to its lowest close since December 9. Major shareholder, the Kharafi group, is leading a consortium selling a controll
Published 13 Jan, 2011 12:00am
Taiwan stocks higher

Taiwan stocks higher

Taiwan stocks ended 0.38 percent higher on Wednesday, with financial shares rising close to 2 percent on positive views that banks will benefit from expected continued rises in Taiwan's interest rates. The Taiwan main index lacked momentum to break past t
Published 13 Jan, 2011 12:00am
European shares at 28-month high

European shares at 28-month high

European shares hit a 28-month high on Wednesday as sentiment improved following strong demand for Portugal's debt, while a rally in metals prices boosted resource-related equities. Appetite for risky assets grew, with the VDAX-NEW volatility index down 6
Published 13 Jan, 2011 12:00am
Hong Kong, Shanghai shares up

Hong Kong, Shanghai shares up

Hong Kong stocks extended gains on Wednesday as a surge index heavyweight HSBC helped push the benchmark past some short-term technical resistance levels. China's key stock index closed 0.6 percent higher in thin volume, underpinned by strength in airline
Published 13 Jan, 2011 12:00am
Most Southeast Asian stocks higher

Most Southeast Asian stocks higher

Most Southeast Asian stocks rose on Wednesday, with battered Indonesian shares gaining some lost ground and others posting smaller gains amid eurozone debt uncertainty. Early selling in the bull markets of Southeast Asia this year has put several among As
Published 13 Jan, 2011 12:00am
Treasuries fall

Treasuries fall

US Treasuries prices fell on Tuesday as traders prepared for sales of re-opened 10- and 30-year Treasury securities, but the day's steepest losses were trimmed after a three-year note auction drew a strong bid. A show of support by Japan for hard-hit euro
Published 13 Jan, 2011 12:00am
Treasuries fall

Treasuries fall

US Treasuries prices fell on Tuesday as traders prepared for sales of re-opened 10- and 30-year Treasury securities, but the day's steepest losses were trimmed after a three-year note auction drew a strong bid. A show of support by Japan for hard-hit euro
Published 13 Jan, 2011 12:00am
Indian shares up

Indian shares up

Indian shares provisionally closed 1.7 percent higher on Wednesday, recovering after six straight sessions of decline, with firm global markets helping the sentiment. The 30-share BSE index provisionally ended up 326.15 points at 19,522.49 points with 21
Published 13 Jan, 2011 12:00am
Energy shares lift Wall Street in light volume

Energy shares lift Wall Street in light volume

Energy shares helped the Dow and S&P 500 end a three-day losing streak on Tuesday, even as investors worried rising fuel costs will undercut economic growth. Earnings reports from smaller companies, including homebuilder Lennar and store chain Sears Holdi
Published 13 Jan, 2011 12:00am
Wednesday's midday trade: Dow Jones climbs

Wednesday's midday trade: Dow Jones climbs

US stocks rose on Wednesday after a healthy bond sale in Portugal eased nervousness about the eurozone's debt crisis and investors pushed US bank shares higher on signs of strength. European shares rallied to a 28-month high, led by banks, on hopes eurozo
Published 13 Jan, 2011 12:00am
Nikkei average flat

Nikkei average flat

The Nikkei average ended flat on Wednesday, backing away from an eight-month high hit early as traders locked in profits, but sentiment remains strong as upbeat US earnings and a softer yen spurred foreign investors to buy up financial and property shares
Published 13 Jan, 2011 12:00am
Seoul shares post all-time high

Seoul shares post all-time high

Seoul shares rose 0.3 percent and ended at an all-time closing high on Wednesday, lifted by firm gains in memory chip makers such as Samsung Electronics and crude refiners including SK Energy Co Ltd. The Korea Composite Stock Price Index (KOSPI) ended up
Published 13 Jan, 2011 12:00am
Multiple rate change seen on grain market

Multiple rate change seen on grain market

Many changes were seen on the wholesales grain and seed market on Wednesday in process of trading, dealers said. On the cereal side moong from Punjab was sharply higher by Rs 250 to Rs 9750, on the other hand masoor Canada lost Rs 300 to Rs 6500. Urad Bur
Published 13 Jan, 2011 12:00am
Jute goods down on Jodia Bazar

Jute goods down on Jodia Bazar

The trading in jute goods twine closed down on Jodia Bazar here on Wednesday. The following changes were noted.
Published 13 Jan, 2011 12:00am
Pressing needs compel mills to buy cotton at higher prices

Pressing needs compel mills to buy cotton at higher prices

Prices were higher on the cotton market on Wednesday as a result of increase in the mills' buying to meet the immediate needs, dealers said. The Karachi Cotton Association (KCA) spot rate was unchanged at Rs 9800, they said. In the meantime, seeds cotton
Published 13 Jan, 2011 12:00am
Oil cake market rates

Oil cake market rates

Upward trend was seen on the forward cottonseed oilcake market on Wednesday in process of trading, dealers said. The January vaida that had closed at Rs 1250.00 opened with a rise of Rs 2.20 Rs 1252.20. March vaida which ended at dismal note at Rs 1239.20
Published 13 Jan, 2011 12:00am
Soyabean export premiums steady at US Gulf Coast

Soyabean export premiums steady at US Gulf Coast

Soyabean export premiums at the US Gulf Coast held steady on Tuesday in quiet trade as buyers moved to the sidelines ahead of the USDA January supply-demand report due early Wednesday, traders said. USDA to issue reports on Wednesday for final US corn, so
Published 13 Jan, 2011 12:00am
US wheat and soya futures up ahead of key crop report

US wheat and soya futures up ahead of key crop report

Chicago wheat and soyabean futures rose around 1 percent on Wednesday and corn was also firm as investors took positions ahead of a key US government report expected to forecast tighter grain and oilseed supplies. Trading was cautious as the grain markets
Published 13 Jan, 2011 12:00am
Ukraine to keep grain export at high level

Ukraine to keep grain export at high level

Ukraine is likely to keep grain exports at a high level in the coming weeks after the government on Tuesday allocated export quotas for the next three months, the Ukrainian Agrarian Confederation (UAC) said on Wednesday. Ukraine's exports rose to more tha
Published 13 Jan, 2011 12:00am
Vietnam's coffee prices highest since March 2008

Vietnam's coffee prices highest since March 2008

Robusta bean prices on Vietnam's domestic market rose around 2 percent from the previous day to 38.2 million dong ($1,959) a tonne on Wednesday, the highest since March 2008, and trading has slowed, traders said. Slowing sales from Vietnam, the world's la
Published 13 Jan, 2011 12:00am
US Midwest corn and soya bids mostly steady

US Midwest corn and soya bids mostly steady

Spot basis bids for corn and soyabeans held mostly steady at US Midwest processors and elevators on Tuesday as farmers sold small portions of both crops ahead of Wednesday's government crop report. USDA will release its January crop production report at 7
Published 13 Jan, 2011 12:00am
Indonesia's cocoa output seen falling

Indonesia's cocoa output seen falling

Cocoa output in Indonesia could fall 5 percent this year, industry sources said on Wednesday, after the weather agency in the world's third-largest producer said rains would continue through June. Indonesia's weather agency forecast at a news conference o
Published 13 Jan, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 102,986 tonnes of cargo including 51,580 tonnes of import cargo, 51,406 tonnes of export cargo, 4,512 loaded and empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 51,580 tonnes compr
Published 13 Jan, 2011 12:00am
Shahid Afridi named captain as squad for New Zealand series announced

Shahid Afridi named captain as squad for New Zealand series announced

Pakistani selectors on Wednesday retained Shahid Afridi as captain for the upcoming one-day series against New Zealand, boosting his chances of leading the side in next month's World Cup. The selection committee kept Afridi on as captain in the finalised
Published 13 Jan, 2011 12:00am
Bellamy arrested over 'assault'

Bellamy arrested over 'assault'

Wales striker Craig Bellamy has been arrested on suspicion of assault, police said Wednesday. Bellamy, who now plays for Cardiff City, was taken into custody after two men were injured in an early morning incident in the Welsh capital last weekend. The 31
Published 13 Jan, 2011 12:00am
UEFA to create new European player prize: Platini

UEFA to create new European player prize: Platini

UEFA will create the equivalent of the Ballon d'Or award for European players which it will start giving out next season, the president of the European football governing body, Michel Platini, said in an interview published Wednesday. "UEFA will give a sp
Published 13 Jan, 2011 12:00am
Rehmat Gul named president PML sports wing

Rehmat Gul named president PML sports wing

President Pakistan Muslim League (Like Minded Group) Senator Salim Saifullah Khan has appointed Rehmat Gul Afridi as Central Joint Secretary and President of his party's Sports Wing. Afridi is also serving as Chairman Kyokushinkai, Secretary Kyokushinkai
Published 13 Jan, 2011 12:00am
Djeparov fires Uzbeks towards Asian Cup quarters

Djeparov fires Uzbeks towards Asian Cup quarters

A thunderbolt from captain Server Djeparov gave Uzbekistan a 2-1 win over Kuwait that took them to the brink of the Asian Cup last eight here on Wednesday and left Kuwait on the verge of elimination. Djeparov cracked home a first-time shot from 20 yards i
Published 13 Jan, 2011 12:00am
Champions Iraq have it all to do

Champions Iraq have it all to do

Reigning champions Iraq were licking their wounds on Wednesday after going down 2-1 to great rivals Iran at the Asian Cup despite taking an early lead and having the better of the opening exchanges. Iraq's German coach Wolfgang Sidka did his best not to l
Published 13 Jan, 2011 12:00am
Hosts beat China

Hosts beat China

Two first-half goals from striker Yusef Ahmed sent Qatar on their way to a 2-0 win over China as the host nation finally joined their own Asian Cup party on Wednesday and began dreaming of a place in the quarter-finals. Qatar took the lead after 27 minute
Published 13 Jan, 2011 12:00am
Lara World Cup boost for Zimbabwe

Lara World Cup boost for Zimbabwe

Former West Indies batsman Brian Lara will join the 15-man Zimbabwe cricket squad for preparations ahead of the ICC World Cricket Cup to be held in India, Bangladesh and Sri Lanka beginning in February. Lara, who holds the Test world record score of 400 r
Published 13 Jan, 2011 12:00am
Youth football camp to be held in MTFA's ground

Youth football camp to be held in MTFA's ground

Pakistan Football Federation (PFF) has approved Model Town Football Academy (MTFA) ground as venue for national camp in the build up of Pakistan youth team which would appear in the 2012 Olympic Football Asian qualifying tournament.
Published 13 Jan, 2011 12:00am
Foster blunder gives West Ham slender advantage

Foster blunder gives West Ham slender advantage

Birmingham goalkeeper Ben Foster's embarrassing blunder gave 10-man West Ham a 2-1 win in the League Cup semi-final first leg at Upton Park on Tuesday. Avram Grant's Hammers were on the rack after Liam Ridgewell's second half goal cancelled out Mark Noble
Published 13 Jan, 2011 12:00am
England win thriller to set T20 record

England win thriller to set T20 record

Debutant Chris Woakes guided England to a record eighth successive Twenty20 win as the tourists inflicted more torment on Australia with a final ball one-wicket victory at the Adelaide Oval on Wednesday. Despite all-rounder Shane Watson's best efforts to
Published 13 Jan, 2011 12:00am
Clijsters to play Kleybanova in Sydney semis

Clijsters to play Kleybanova in Sydney semis

Kim Clijsters stormed into the semi-finals of the Sydney International with a straight sets demolition of Victoria Azarenka on Wednesday. The Belgian world number three reaffirmed her status as favourite for next week's Australian Open with five service b
Published 13 Jan, 2011 12:00am
Hewitt, Monfils, Davydenko win at Kooyong

Hewitt, Monfils, Davydenko win at Kooyong

Lleyton Hewitt said he was feeling fresh ahead of his 15th Australian Open after a rain-interrupted 7-5, 4-6, 6-4 win over Mikhail Youzhny at the Kooyong Classic Wednesday. With the flood tragedy unfolding away to the north in Queensland, poor weather was
Published 13 Jan, 2011 12:00am
Wapda hockey tournament from January 16

Wapda hockey tournament from January 16

Wapda inter unit hockey tournament (2010-11) is being started here from January 16 at Naseer Bundha hockey stadium. According to Iesco spokesman, the tournament would remain continue up to January 23. Iesco the champion of 2009-10 is hosting the tournamen
Published 13 Jan, 2011 12:00am
Japanese bank lending falls for 13th month

Japanese bank lending falls for 13th month

Japanese bank lending fell for a 13th straight month in December, showing that the central bank's ultra-easy monetary policy has yet to spur companies to borrow more for investment and that policy will likely have to remain loose for some time.
Published 13 Jan, 2011 12:00am
AIG in $2.2 billion Taiwan sale, but concerns remain

AIG in $2.2 billion Taiwan sale, but concerns remain

American International Group Inc accepted a $2.16 billion cash offer for its Taiwan Nan Shan Life unit from a group led by conglomerate Ruentex, though long-running regulatory concerns mean the sale is not assured. AIG sold Nan Shan once before, only to s
Published 13 Jan, 2011 12:00am
Thailand raises interest rates to curb inflation

Thailand raises interest rates to curb inflation

Thailand's central bank raised interest rates Wednesday for the fourth time in the past six months, citing the prospect of rising inflation and solid economic growth. The Bank of Thailand increased the official cost of borrowing to 2.25 percent, up from 2
Published 13 Jan, 2011 12:00am
JAL, American Airlines to begin joint business in April

JAL, American Airlines to begin joint business in April

Japan Airlines (JAL) and its partner American Airlines said Tuesday they would start their revenue-sharing joint business on trans-Pacific flights in April. The venture includes the alignment of their 2011 summer schedules effective from March 27, expande
Published 13 Jan, 2011 12:00am
Sri Lanka cuts rates to spur private sector

Sri Lanka cuts rates to spur private sector

Sri Lanka's central bank surprised the market on Tuesday by cutting policy rates for the first time in five months, slashing borrowing costs to spur better-quality credit growth and private sector investment. A Reuters poll had forecast rates would be hel
Published 13 Jan, 2011 12:00am
Barclays chief says banks should stop saying sorry

Barclays chief says banks should stop saying sorry

Banks should stop apologising for mistakes made during the financial crisis, Barclays Plc's new head told British lawmakers, striking a sometimes defiant tone in a grilling over bonuses on Tuesday. In a crammed room which spectators had to queue to enter,
Published 13 Jan, 2011 12:00am
Tunisia sacks minister as new clashes erupt

Tunisia sacks minister as new clashes erupt

Tunisia sacked its interior minister and deployed troops in Tunis Wednesday as weeks of violent protests reached the capital and two people were reported killed in fresh clashes further south. Security forces fired tear gas on hundreds on demonstrators in
Published 13 Jan, 2011 12:00am
Germany jails two Libyan spies

Germany jails two Libyan spies

A German court jailed two Libyan men Wednesday for spying on members of the Libyan opposition living in Europe over a nearly three-year period. The first defendant, a 43-year-old identified only as Abdel A., was sentenced to two years and six months in pr
Published 13 Jan, 2011 12:00am
African dictator's French chateau sells for $1.2 million

African dictator's French chateau sells for $1.2 million

A French chateau where Africa's most ruthless dictator Jean-Bedel Bokassa lived after French paratroopers ousted him was auctioned Wednesday for 915,000 euros ($1.2 million). An individual bought the residence of Bokassa, the late self-proclaimed emperor
Published 13 Jan, 2011 12:00am
Somali guards arrest 10 Indian charcoal smugglers

Somali guards arrest 10 Indian charcoal smugglers

Somali coastguards caught an Indian boat carrying an illegal cargo of charcoal and government security arrested its 10-man crew, officials said Wednesday. The small boat was intercepted by the fledgling Mogadishu coastguard earlier this week and brought b
Published 13 Jan, 2011 12:00am
Six killed in Ivory Coast as police attacked

Six killed in Ivory Coast as police attacked

At least six people were killed Wednesday as Ivorian police were attacked with rocket-propelled grenades in an Abidjan district largely loyal to Laurent Gbagbo's rival for the presidency. Five of the dead were policemen, a police source said, and an AFP c
Published 13 Jan, 2011 12:00am
EU seeks more lending power, Portugal sells debt

EU seeks more lending power, Portugal sells debt

The European Union's executive called for greater emergency lending power to underpin the eurozone as Portugal, seen as the next candidate for a bailout, successfully sold its first debt of the year. "We are saying very clearly that we believe that the fi
Published 13 Jan, 2011 12:00am
Record UK goods trade gap belies brighter signs

Record UK goods trade gap belies brighter signs

Imports of oil and aircraft pushed Britain's goods trade deficit to a record high in November, but an improvement in the underlying trend meant hopes of an eventual export-led recovery were not entirely crushed. The Office for National Statistics said Bri
Published 13 Jan, 2011 12:00am
EADS lifted by historic Airbus plane order

EADS lifted by historic Airbus plane order

Airbus basked in the world's biggest commercial plane order on Wednesday, with shares in parent EADS lifted by news of its $15.6 billion 180-aircraft deal with Indian airline IndiGo. The agreed purchase underlines India's development as a major aviation m
Published 13 Jan, 2011 12:00am
Hong Kong remains freest place for economy

Hong Kong remains freest place for economy

Hong Kong remained the world's freest place to do business for the 17th year in a row in an annual US league table published Wednesday. The United States lost ground and mainland China came 135th in the table compiled by The Heritage Foundation, a conserv
Published 13 Jan, 2011 12:00am
Yemen suspends oil minister over queues for petrol

Yemen suspends oil minister over queues for petrol

Yemen's president on Wednesday suspended his oil minister and the head of the national oil company over a fuel shortage that has forced people to queue at petrol stations, the defence ministry said. "The minister for oil and minerals, Amir Salem al-Aydaru
Published 13 Jan, 2011 12:00am
Floods cost to Australia 'higher than Katrina'

Floods cost to Australia 'higher than Katrina'

Australia's devastating floods could slice more than Aus$10 billion ($10 billion) off GDP and hammer the economy worse than Hurricane Katrina affected the United States, economists said Wednesday. Experts said the floods, which have turned most of the min
Published 13 Jan, 2011 12:00am
US economy, jobs outlook improving: Fed

US economy, jobs outlook improving: Fed

The US economy strengthened as the year drew to a close, according to a report from the Federal Reserve on Wednesday that cited rising employment levels across the country. The Fed's Beige Book report, based on anecdotal reports collected from the busines
Published 13 Jan, 2011 12:00am
Geithner gauging support for big US tax change

Geithner gauging support for big US tax change

The Obama administration is exploring ways to boost tax incentives for corporate investment in the United States, Treasury Secretary Timothy Geithner said on Wednesday, ahead of his meeting with chief financial officers from some of America's biggest comp
Published 13 Jan, 2011 12:00am
US import prices jump, mortgage demand rises

US import prices jump, mortgage demand rises

US import prices jumped in December as energy costs surged, a sign that while inflation may be tame domestically there are plenty of price pressures coming from overseas. Import prices rose 1.1 percent, just beneath economists' forecasts in a Reuters poll
Published 13 Jan, 2011 12:00am
China ready to play part in eurozone crisis fund: PBOC

China ready to play part in eurozone crisis fund: PBOC

China is prepared to participate in any future eurozone stabilisation measures, seeing the euro as a key pillar of a multi-currency global financial system, deputy central bank governor Yi Gang said on Wednesday. Speaking at a briefing in London by the Pe
Published 13 Jan, 2011 12:00am
Azerbaijan signs Iran gas supply deal

Azerbaijan signs Iran gas supply deal

Azerbaijan on Wednesday agreed a five-year deal to supply gas to neighbouring Iran, officials at the ex-Soviet republic's State Oil Company said. The agreement stipulates annual supply of at least one billion cubic metres.
Published 13 Jan, 2011 12:00am
Afghan attorney general probes troubled Kabulbank

Afghan attorney general probes troubled Kabulbank

Afghanistan's attorney general has launched an investigation into the troubled Kabulbank, an official said on Wednesday, following a corruption scandal that threatened to bring down the country's top private financial institution.
Published 13 Jan, 2011 12:00am
Fertiliser sector: ECC may approve revised plan of gas load management

Fertiliser sector: ECC may approve revised plan of gas load management

Economic Co-ordination Committee (ECC) of the cabinet scheduled to meet today (Thursday) may approve a revised gas load management plan for fertiliser sector to curtail gas load shedding from 45 to 30 days in a bid to cut prices of fertiliser, Business
Published 13 Jan, 2011 12:00am
Fertiliser sector: ECC may approve revised plan of gas load management

Fertiliser sector: ECC may approve revised plan of gas load management

Economic Co-ordination Committee (ECC) of the cabinet scheduled to meet today (Thursday) may approve a revised gas load management plan for fertiliser sector to curtail gas load shedding from 45 to 30 days in a bid to cut prices of fertiliser, Business
Published 13 Jan, 2011 12:00am
New York cotton

New York cotton

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

Published 13 Jan, 2011 12:00am
Fertiliser sector: ECC may approve revised plan of gas load management

Fertiliser sector: ECC may approve revised plan of gas load management

Economic Co-ordination Committee (ECC) of the cabinet scheduled to meet today (Thursday) may approve a revised gas load management plan for fertiliser sector to curtail gas load shedding from 45 to 30 days in a bid to cut prices of fertiliser, Business
Published 13 Jan, 2011 12:00am
New York cotton

New York cotton

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

Published 13 Jan, 2011 12:00am
Biden warns against applauding Qadri's act

Biden warns against applauding Qadri's act

US Vice President Joe Biden delivered a bold message of support for Pakistan during a trip to Islamabad Wednesday, telling the country that America is "not the enemy of Islam". Offering condolences over the assassination of Punjab Governor Salmaan Taseer
Published 13 Jan, 2011 12:00am
Biden warns against applauding Qadri's act

Biden warns against applauding Qadri's act

US Vice President Joe Biden delivered a bold message of support for Pakistan during a trip to Islamabad Wednesday, telling the country that America is "not the enemy of Islam". Offering condolences over the assassination of Punjab Governor Salmaan Taseer
Published 13 Jan, 2011 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 Jan, 2011 12:00am
Biden meets General Kayani

Biden meets General Kayani

Joseph R Biden, United States Vice President called on Chief of Army Staff, General Ashfaq Parvez Kayani on Wednesday. According to ISPR, the visiting dignitary remained with him for some time and discussed the matters of mutual interest. Sources with def
Published 13 Jan, 2011 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 Comm
Published 13 Jan, 2011 12:00am
Biden meets General Kayani

Biden meets General Kayani

Joseph R Biden, United States Vice President called on Chief of Army Staff, General Ashfaq Parvez Kayani on Wednesday. According to ISPR, the visiting dignitary remained with him for some time and discussed the matters of mutual interest. Sources with def
Published 13 Jan, 2011 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 Wednesday (January 12, 2011).

Published 13 Jan, 2011 12:00am
Zardari, Biden discuss strategic ties, regional security

Zardari, Biden discuss strategic ties, regional security

President Asif Ali Zardari on Wednesday called for a close, long-term and broad based relationship between Pakistan and the United States for promoting peace, stability and progress in the region and beyond. Talking to US Vice President Joseph R Biden at
Published 13 Jan, 2011 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 Wednesday (January 12, 2011).

Published 13 Jan, 2011 12:00am
Zardari, Biden discuss strategic ties, regional security

Zardari, Biden discuss strategic ties, regional security

President Asif Ali Zardari on Wednesday called for a close, long-term and broad based relationship between Pakistan and the United States for promoting peace, stability and progress in the region and beyond. Talking to US Vice President Joseph R Biden at
Published 13 Jan, 2011 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 Wednesday (January 12, 2011).

Published 13 Jan, 2011 12:00am
PCO judges' case: Supreme Court dismisses Dogar's plea

PCO judges' case: Supreme Court dismisses Dogar's plea

The Supreme Court Wednesday rejected a plea moved by former 'chief justice of Pakistan' Abdul Hamid Dogar, objecting to the current proceedings against judges for taking oath under the Provisional Constitution Order (PCO) in violation of the verdict rende
Published 13 Jan, 2011 12:00am
PCO judges' case: Supreme Court dismisses Dogar's plea

PCO judges' case: Supreme Court dismisses Dogar's plea

The Supreme Court Wednesday rejected a plea moved by former 'chief justice of Pakistan' Abdul Hamid Dogar, objecting to the current proceedings against judges for taking oath under the Provisional Constitution Order (PCO) in violation of the verdict rende
Published 13 Jan, 2011 12:00am
Inadequate evidence: NAB inquiry against Mukhtar closed

Inadequate evidence: NAB inquiry against Mukhtar closed

The National Accountability Bureau (NAB) has decided to start what it says ruthless accountability to bring important political personalities and bureaucrats into the accountability net, but closed the inquiries against Defence Minister Ahmed Mukhtar due
Published 13 Jan, 2011 12:00am
Inadequate evidence: NAB inquiry against Mukhtar closed

Inadequate evidence: NAB inquiry against Mukhtar closed

The National Accountability Bureau (NAB) has decided to start what it says ruthless accountability to bring important political personalities and bureaucrats into the accountability net, but closed the inquiries against Defence Minister Ahmed Mukhtar due
Published 13 Jan, 2011 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 Wednesday (January 12, 2011).

Published 13 Jan, 2011 12:00am
Karachi LTU collection depicts 133 percent growth

Karachi LTU collection depicts 133 percent growth

Revenue collection by Karachi Large Taxpayers Unit (LTU) on account of profit on debts from government securities under section 151 of Income Tax Ordinance (ITO) 2001 has shown 133 percent growth during current fiscal year. According to provisional data m
Published 13 Jan, 2011 12:00am
Karachi LTU collection depicts 133 percent growth

Karachi LTU collection depicts 133 percent growth

Revenue collection by Karachi Large Taxpayers Unit (LTU) on account of profit on debts from government securities under section 151 of Income Tax Ordinance (ITO) 2001 has shown 133 percent growth during current fiscal year. According to provisional data m
Published 13 Jan, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (January 12, 2011).
Published 13 Jan, 2011 12:00am
Karachi LTU collection depicts 133 percent growth

Karachi LTU collection depicts 133 percent growth

Revenue collection by Karachi Large Taxpayers Unit (LTU) on account of profit on debts from government securities under section 151 of Income Tax Ordinance (ITO) 2001 has shown 133 percent growth during current fiscal year. According to provisional data m
Published 13 Jan, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (January 12, 2011).

Published 13 Jan, 2011 12:00am
Bhasha dam project in dire straits: US rejects call for funds

Bhasha dam project in dire straits: US rejects call for funds

Pakistan is facing problems in arranging funds for much-trumpeted Bhasha dam hydropower project as the Untied States, following multinational financial agencies such as the World Bank, has declined Pakistan's call for funds for this key project and help i
Published 13 Jan, 2011 12:00am
Bhasha dam project in dire straits: US rejects call for funds

Bhasha dam project in dire straits: US rejects call for funds

Pakistan is facing problems in arranging funds for much-trumpeted Bhasha dam hydropower project as the Untied States, following multinational financial agencies such as the World Bank, has declined Pakistan's call for funds for this key project and help i
Published 13 Jan, 2011 12:00am
Bhasha dam project in dire straits: US rejects call for funds

Bhasha dam project in dire straits: US rejects call for funds

Pakistan is facing problems in arranging funds for much-trumpeted Bhasha dam hydropower project as the Untied States, following multinational financial agencies such as the World Bank, has declined Pakistan''s call for funds for this key project and help
Published 13 Jan, 2011 12:00am
Tax evasion cases in fiscal year 2010 up 64.21 percent

Tax evasion cases in fiscal year 2010 up 64.21 percent

There is a sudden increase in the number of under-assessment of income and tax evasion cases during 2009-10 as compared to the same period last fiscal year, reflecting massive misuse of the Universal Self Assessment Scheme (USAS). It is learnt here on Wed
Published 13 Jan, 2011 12:00am
Tax evasion cases in fiscal year 2010 up 64.21 percent

Tax evasion cases in fiscal year 2010 up 64.21 percent

There is a sudden increase in the number of under-assessment of income and tax evasion cases during 2009-10 as compared to the same period last fiscal year, reflecting massive misuse of the Universal Self Assessment Scheme (USAS). It is learnt here on Wed
Published 13 Jan, 2011 12:00am
Tax evasion cases in fiscal year 2010 up 64.21 percent

Tax evasion cases in fiscal year 2010 up 64.21 percent

There is a sudden increase in the number of under-assessment of income and tax evasion cases during 2009-10 as compared to the same period last fiscal year, reflecting massive misuse of the Universal Self Assessment Scheme (USAS). It is learnt here on Wed
Published 13 Jan, 2011 12:00am
Finance Act 2010: FBR may invoke biggest enforcement provision

Finance Act 2010: FBR may invoke biggest enforcement provision

The Federal Board of Revenue is planning to invoke the biggest enforcement provision of the Finance Act 2010 to issue system generated notices to the non-compliant taxpayers including non-filers of sales tax returns, income tax returns, advance taxpayers,
Published 13 Jan, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (January 12, 2011).

Published 13 Jan, 2011 12:00am
Finance Act 2010: FBR may invoke biggest enforcement provision

Finance Act 2010: FBR may invoke biggest enforcement provision

The Federal Board of Revenue is planning to invoke the biggest enforcement provision of the Finance Act 2010 to issue system generated notices to the non-compliant taxpayers including non-filers of sales tax returns, income tax returns, advance taxpayers,
Published 13 Jan, 2011 12:00am
Finance Act 2010: FBR may invoke biggest enforcement provision

Finance Act 2010: FBR may invoke biggest enforcement provision

The Federal Board of Revenue is planning to invoke the biggest enforcement provision of the Finance Act 2010 to issue system generated notices to the non-compliant taxpayers including non-filers of sales tax returns, income tax returns, advance taxpayers,
Published 13 Jan, 2011 12:00am
Index gains 14.03 points

Index gains 14.03 points

The Karachi share market on Wednesday witnessed highly volatile session with KSE-100 index oscillating between 12,348.72 points intra-day high and 12,230.00 points low levels. However, it closed at 12,281.24 points with a modest gain of 14.03 points on th
Published 13 Jan, 2011 12:00am
Index gains 14.03 points

Index gains 14.03 points

The Karachi share market on Wednesday witnessed highly volatile session with KSE-100 index oscillating between 12,348.72 points intra-day high and 12,230.00 points low levels. However, it closed at 12,281.24 points with a modest gain of 14.03 points on th
Published 13 Jan, 2011 12:00am
Index gains 14.03 points

Index gains 14.03 points

The Karachi share market on Wednesday witnessed highly volatile session with KSE-100 index oscillating between 12,348.72 points intra-day high and 12,230.00 points low levels. However, it closed at 12,281.24 points with a modest gain of 14.03 points on th
Published 13 Jan, 2011 12:00am
BRIndex30 up 67.98 points

BRIndex30 up 67.98 points

On Wednesday, the BRIndex30 opened at 9,103.19 points and remained in positive throughout the trading session. It touched the intra-day high of 9,221.25 points and low of 9,103.19 points and closed at 9,171.17 points with a net positive change of 67.98 po
Published 13 Jan, 2011 12:00am
BRIndex30 up 67.98 points

BRIndex30 up 67.98 points

On Wednesday, the BRIndex30 opened at 9,103.19 points and remained in positive throughout the trading session. It touched the intra-day high of 9,221.25 points and low of 9,103.19 points and closed at 9,171.17 points with a net positive change of 67.98 po
Published 13 Jan, 2011 12:00am
KSE launches OTC by Rs one billion Engro Commercial Papers listing

KSE launches OTC by Rs one billion Engro Commercial Papers listing

The Karachi Stock Exchange on Wednesday announced launching of Over-the-Counter (OTC) Market through listing of first privately placed Commercial Papers (CP) of Rs 1 billion of Engro Fertilisers on the Exchange. According to a press release, the CP will b
Published 13 Jan, 2011 12:00am
KSE launches OTC by Rs one billion Engro Commercial Papers listing

KSE launches OTC by Rs one billion Engro Commercial Papers listing

The Karachi Stock Exchange on Wednesday announced launching of Over-the-Counter (OTC) Market through listing of first privately placed Commercial Papers (CP) of Rs 1 billion of Engro Fertilisers on the Exchange. According to a press release, the CP will b
Published 13 Jan, 2011 12:00am
KSE launches OTC by Rs one billion Engro Commercial Papers listing

KSE launches OTC by Rs one billion Engro Commercial Papers listing

The Karachi Stock Exchange on Wednesday announced launching of Over-the-Counter (OTC) Market through listing of first privately placed Commercial Papers (CP) of Rs 1 billion of Engro Fertilisers on the Exchange. According to a press release, the CP will b
Published 13 Jan, 2011 12:00am
President to attend Holbrooke's memorial service on January 14

President to attend Holbrooke's memorial service on January 14

President Asif Ali Zardari Thursday left for United States to participate in the funeral of special envoy for Pakistan and Afghanistan Richard Holbrooke. Well-placed sources in the Presidency Wednesday told Business Recorder that the President left
Published 13 Jan, 2011 12:00am
President to attend Holbrooke's memorial service on January 14

President to attend Holbrooke's memorial service on January 14

President Asif Ali Zardari Thursday left for United States to participate in the funeral of special envoy for Pakistan and Afghanistan Richard Holbrooke. Well-placed sources in the Presidency Wednesday told Business Recorder that the President left
Published 13 Jan, 2011 12:00am
Hezbollah forces Lebanon government collapse

Hezbollah forces Lebanon government collapse

Lebanon's unity government collapsed on Wednesday after the powerful Hezbollah and its allies resigned from the cabinet over a UN probe into the assassination of former premier Rafiq Hariri. Energy Minister Gebran Bassil told a press conference that 10 mi
Published 13 Jan, 2011 12:00am
Hezbollah forces Lebanon government collapse

Hezbollah forces Lebanon government collapse

Lebanon's unity government collapsed on Wednesday after the powerful Hezbollah and its allies resigned from the cabinet over a UN probe into the assassination of former premier Rafiq Hariri. Energy Minister Gebran Bassil told a press conference that 10 mi
Published 13 Jan, 2011 12:00am
Rising incidence of NPLs: over 43 percent decline in recovery

Rising incidence of NPLs: over 43 percent decline in recovery

Recovery against non-performing loans (NPLs) by banks and DFIs has been on a significantly slow pace as it registered a noticeable decline of 43.39 percent in the quarter ended on September 30, 2010. Sources in banking sector told Business Recorder </i
Published 13 Jan, 2011 12:00am
Rising incidence of NPLs: over 43 percent decline in recovery

Rising incidence of NPLs: over 43 percent decline in recovery

Recovery against non-performing loans (NPLs) by banks and DFIs has been on a significantly slow pace as it registered a noticeable decline of 43.39 percent in the quarter ended on September 30, 2010. Sources in banking sector told Business Recorder </i
Published 13 Jan, 2011 12:00am
Rising incidence of NPLs: over 43 percent decline in recovery

Rising incidence of NPLs: over 43 percent decline in recovery

Recovery against non-performing loans (NPLs) by banks and DFIs has been on a significantly slow pace as it registered a noticeable decline of 43.39 percent in the quarter ended on September 30, 2010. Sources in banking sector told Business Recorder </i
Published 13 Jan, 2011 12:00am
Project funds: financial woes compel government to slash releases

Project funds: financial woes compel government to slash releases

The government was compelled to slash releases for the Public Sector Development Programme (PSDP) during first half (July-December) of ongoing financial year 2010-11 due to severe financial constraints exacerbated by withdrawal of the oil prices and failu
Published 13 Jan, 2011 12:00am
Project funds: financial woes compel government to slash releases

Project funds: financial woes compel government to slash releases

The government was compelled to slash releases for the Public Sector Development Programme (PSDP) during first half (July-December) of ongoing financial year 2010-11 due to severe financial constraints exacerbated by withdrawal of the oil prices and failu
Published 13 Jan, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 13 Jan, 2011 12:00am
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