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Archive - 2011-01-20
Irish inflation up sharply in December
Top News

Irish inflation up sharply in December

DUBLIN: Irish inflation jumped to 1.3 percent in December compared with 12 months earlier after a rise of 0.6 percent in
Published 20 Jan, 2011 12:45pm
Hussey World Cup doubts grow
Sports

Hussey World Cup doubts grow

MELBOURNE: Veteran Australian batsman Mike Hussey's chances of playing at the World Cup will remain shrouded in uncertai
Published 20 Jan, 2011 11:07am
China says economy grew 10.3% in 2010
Top News

China says economy grew 10.3% in 2010

BEIJING: China said Thursday that its economy grew 10.3 percent in 2010, marking the fastest annual pace since the onset
Published 20 Jan, 2011 08:40am
Wine and dine
BR Research

Wine and dine

Guess what IMFs first working paper of the year was all about: crude oil and wine. One might quickly dismiss it for not being the best punch
Published 20 Jan, 2011 12:00am
Stagflation looming
BR Research

Stagflation looming

In a press briefing after the first of a few meetings on evolving a joint economic agenda, the Finance Minister stressed the need to highlig
Published 20 Jan, 2011 12:00am
China 2010 rare earth exports slip, value rockets

China 2010 rare earth exports slip, value rockets

China's exports of vital rare earth elements used for numerous high-tech goods slipped almost one-tenth last year but the overall value rocketed as quota cuts lifted international prices, data showed on Wednesday. China, which produces about 97 percent of
Published 20 Jan, 2011 12:00am
IMF stress tests come early for UK, German banks

IMF stress tests come early for UK, German banks

The International Monetary Fund is running a health check of top banks in Britain, Germany and three more countries just as Europe hammers out details of its own tougher industry "stress test". The round of IMF health checks in Europe will start in Britai
Published 20 Jan, 2011 12:00am
India aims to host Asia's biggest tidal power plant

India aims to host Asia's biggest tidal power plant

The western Indian state of Gujarat is aiming to host the first commercial-scale tidal power project in Asia after signing a deal with a British marine energy company, officials said Wednesday. State Energy Minister Saurabh Patel told AFP that two or thre
Published 20 Jan, 2011 12:00am
Four banks to manage AIG share sale

Four banks to manage AIG share sale

AIG chose Bank of America Corp, Deutsche Bank AG, Goldman Sachs Group Inc and J.P. Morgan Chase & Co to manage the sale of the government's 92 percent stake in the insurer, two people familiar with the situation said on Tuesday. American International Gro
Published 20 Jan, 2011 12:00am
US housing starts lowest since late 2009

US housing starts lowest since late 2009

Groundbreaking for new US homes fell more than expected in December to the lowest in over a year, suggesting the battered housing sector remains a major roadblock to economic recovery. US housing starts dropped to an annual rate of 529,000 units, the Comm
Published 20 Jan, 2011 12:00am
Goldman Sachs profit slides

Goldman Sachs profit slides

Goldman Sachs posted a 53 percent decline in fourth-quarter profit as revenue from fixed income tumbled, dashing hopes that Wall Street's largest investment bank might buck a volatile climate that has hurt rivals such as Citigroup Inc. Bond trading revenu
Published 20 Jan, 2011 12:00am
Goldman Sachs profit slides

Goldman Sachs profit slides

Goldman Sachs posted a 53 percent decline in fourth-quarter profit as revenue from fixed income tumbled, dashing hopes that Wall Street's largest investment bank might buck a volatile climate that has hurt rivals such as Citigroup Inc. Bond trading revenu
Published 20 Jan, 2011 12:00am
Africa M&A surges to record $44 billion in 2010

Africa M&A surges to record $44 billion in 2010

Mergers and acquisitions activity in sub-Saharan Africa surged to a record $44 billion in 2010, double the value of a year earlier, Thomson Reuters data showed on Wednesday. Investors and analysts expect the pace of deals can only increase in 2011, as mor
Published 20 Jan, 2011 12:00am
Asia to see soaring prices in 2011, more modest growth

Asia to see soaring prices in 2011, more modest growth

Asia's rapid economic growth will moderate slightly in 2011 even as policymakers combat rising prices with higher interest rates and try to keep local currencies from appreciating too sharply, a Reuters quarterly poll showed. Most of the 13 Asia-Pacific e
Published 20 Jan, 2011 12:00am
No return to deutschmark, vows Merkel

No return to deutschmark, vows Merkel

German Chancellor Angela Merkel Wednesday ruled out a return to the deutschmark amid a debt crisis that has led to calls in some quarters for Europe's top economy to ditch the euro. "There will be no return to the D-Mark," Merkel said in an interview with
Published 20 Jan, 2011 12:00am
Germany lifts 2011 growth forecast to 2.3 percent

Germany lifts 2011 growth forecast to 2.3 percent

Germany raised its 2011 growth forecast by half a percentage point to 2.3 percent on Wednesday, predicting the recovery in Europe's powerhouse will broaden and that previously sluggish domestic demand will pick up. The Economy Ministry's forecast was slig
Published 20 Jan, 2011 12:00am
Few changes seen on grain market

Few changes seen on grain market

Changes were a few on the wholesales grain and seed market on Wednesday as buyers were on the sidelines due to lack of buying interest, dealers said. On the cereal side wheat old was quoted at Rs 2645 and new quality was registered at Rs 2600. Gur low typ
Published 20 Jan, 2011 12:00am
Kenyan coffee prices firm at latest sale

Kenyan coffee prices firm at latest sale

The prices of Kenyan coffee firmed at the latest sale, with top grade AA fetching a record $1,011 per 50-kg bag, data from the Nairobi Coffee Exchange (NCE) showed. On the second sale of the year, NCE attributed the high price to low coffee supply.
Published 20 Jan, 2011 12:00am
Trading activity improves despite ginners' strike

Trading activity improves despite ginners' strike

Mills showed fresh buying interest on the cotton market on Wednesday though the ginners strike continued against levy of withholding tax on farm commodities, including cotton, dealers said. The Karachi Cotton Association (KCA) spot rate was unchanged at R
Published 20 Jan, 2011 12:00am
Oil cake market rates

Oil cake market rates

Contracts were lower on the forward cottonseed oilcake market on Wednesday in process of trading, dealers said. The January vaida that had closed higher at Rs 1254.10 opened with a loss of 50 paisa to Rs 1253.60. The March vaida which ended at Rs 1239.20
Published 20 Jan, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 127,875 tonnes of cargo including 101,553 tonnes of import cargo, 26,322 tonnes of export cargo, 6,247 loaded and empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 101,553 tonnes com
Published 20 Jan, 2011 12:00am
Rains bring relief to Argentina's soya crops

Rains bring relief to Argentina's soya crops

Weekend rains over Argentina's main soya-farming region brought relief to drought-stricken crops, but more rain is needed to halt yield losses that are increasing every week. Argentina is one of the world's biggest exporters of soya and corn, but scarce r
Published 20 Jan, 2011 12:00am
Indonesia buys 20,000 tonnes of Indian sugar

Indonesia buys 20,000 tonnes of Indian sugar

Indonesia's state procurement agency Bulog said on Wednesday it had secured 20,000 tonnes of white sugar from India for delivery in February. The deal is part of Indonesian plans to import 450,000 tonnes of white sugar this year for household consumption
Published 20 Jan, 2011 12:00am
Soya offers decline, corn steady at US Gulf

Soya offers decline, corn steady at US Gulf

Soyabean export premiums at the US Gulf Coast declined on Tuesday amid slow export demand, while corn held mostly steady, traders said. Slow farmer selling capped the losses in soyabeans. A visiting Chinese delegation will sign agreements to buy US soyabe
Published 20 Jan, 2011 12:00am
Vietnam's 2011 rice exports may fall to 5.5 million tonnes

Vietnam's 2011 rice exports may fall to 5.5 million tonnes

Vietnam's rice exports this year are expected to ease 10 to 15 percent from 2010 to between 5.5 million and 6.1 million tonnes, an online website said. The country's total paddy output could reach nearly 39.75 million tonnes, the online news website NDHMo
Published 20 Jan, 2011 12:00am
US Midwest corn and soya bids steady to weak

US Midwest corn and soya bids steady to weak

Corn and soyabean spot basis bids were steady to lower around the US Midwest on Tuesday as farmers sold modest amounts of both commodities, grain merchants said. Soya bids fell 5 cents and corn 3 cents at a large processor in Decatur, Illinois. Soya bids
Published 20 Jan, 2011 12:00am
Canadian canola futures rise to 29-month highs

Canadian canola futures rise to 29-month highs

ICE Canadian canola futures rose to fresh 29-month highs on Tuesday, as crushers and speculators were buyers and farmer selling slowed, traders said. Canola showed independent strength by rising despite weaker Chicago soyabeans - trader. Crusher buying se
Published 20 Jan, 2011 12:00am
Australian, New Zealand dollars rise

Australian, New Zealand dollars rise

The Australian dollar hit a two week-high against a broadly weaker US currency on Wednesday, underpinned by talk of central bank buying, gains in commodity prices and stop-loss buying after technical levels were breached. A media report of a slowdown in C
Published 20 Jan, 2011 12:00am
Won, peso lead gains in Asia

Won, peso lead gains in Asia

The South Korean won and the Philippine peso led gains in Asian currencies on Wednesday as investors reduced dollar positions on a broad weakness in the greenback. Central banks in Taiwan and Malaysia were spotted buying dollars to cap gains in their curr
Published 20 Jan, 2011 12:00am
Indian rupee down

Indian rupee down

The Indian rupee ended marginally down on Wednesday, weighed by muted dollar inflows, choppy shares and oil importers' dollar demand, after gaining earlier in the day tracking Asian peers. The partially convertible rupee ended at 45.45/46 per dollar, marg
Published 20 Jan, 2011 12:00am
Yuan little changed

Yuan little changed

China's yuan ended barely changed against the dollar on Wednesday, offseting a record high fixing, as investors grew cautious that the Chinese central bank could pull the yuan back after President Hu Jintao's US visit. The Chinese president arrived in the
Published 20 Jan, 2011 12:00am
Swiss franc down versus euro

Swiss franc down versus euro

The Swiss franc traded lower against the euro on Wednesday, but tracked the single currency higher against the dollar as talk of Asian central banks buying the euro and the Australian dollar weighed on the greenback. The franc fell 0.1 percent against the
Published 20 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. 71.10/71.10 (previous 71.07/71.10). Call Money Rates: 5.50-15.00 percent (previous 6.50-15.00 percent).
Published 20 Jan, 2011 12:00am
Euro at one-month high in New York

Euro at one-month high in New York

Central bank buying and strong German economic data pushed the euro to a one-month high above $1.34 on Tuesday, though doubts about Europe's ability to boost a sovereign rescue fund trimmed its gains in New York trade. Analysts, though, said the euro coul
Published 20 Jan, 2011 12:00am
Early trade in New York: Euro at eight-week high

Early trade in New York: Euro at eight-week high

The euro hit an eight-week high against the dollar on Wednesday on growing hopes eurozone officials will navigate the sovereign debt crisis, with further gains seen if key levels are sustained. Reports of Asian sovereign buying and continued short-coverin
Published 20 Jan, 2011 12:00am
Euro rallies in London

Euro rallies in London

The euro rallied to an eight-week high against the dollar on Wednesday on reported Asian sovereign buying and continued short-covering, while traders succeeded in pushing the single currency above a key technical level. The shared currency climbed 1 perce
Published 20 Jan, 2011 12:00am
Dollar falls broadly in Asia

Dollar falls broadly in Asia

The dollar slid to a two-month low against a basket of currencies on Wednesday, as continued short-covering in the euro helped spur a broad fall in the dollar. Talk of Asian central banks buying the euro and the Australian dollar weighed on the US dollar,
Published 20 Jan, 2011 12:00am
Sterling slips versus euro

Sterling slips versus euro

Sterling ceded ground to a broadly firmer euro on Wednesday as the single currency was buoyed by growing hopes that euro zone policymakers will be able to navigate their way through the sovereign debt crisis. The pound eased from eight-week highs against
Published 20 Jan, 2011 12:00am
UK interbank rates climb

UK interbank rates climb

Key sterling-priced interbank rates rose to a 17-month peak on Wednesday on money market bets the Bank of England would have to hike interest rates sooner than expected after surprisingly high inflation data this week. Euro-denominated interbank rates ext
Published 20 Jan, 2011 12:00am
Weakness in banks, miners hit FTSE, retailers wane

Weakness in banks, miners hit FTSE, retailers wane

Banking and mining stocks weighed on Britain's top share index on Wednesday as concerns over the global economic recovery resurfaced, while sentiment among retailers was dented after some disappointing updates. The FTSE 100 closed down 79.73 points, or 1.
Published 20 Jan, 2011 12:00am
Middle East markets: Saudi's SABIC tumbles as Q4 disappoints

Middle East markets: Saudi's SABIC tumbles as Q4 disappoints

Saudi's SABIC made its largest drop in five months on Wednesday after the petrochemical producer's quarterly profit missed estimates, with investors little moved by its expectations for higher sales in 2011. SABIC, also known as Saudi Basic Industries Cor
Published 20 Jan, 2011 12:00am
Seoul shares post fresh all-time high

Seoul shares post fresh all-time high

Seoul shares rose and posted a new all-time closing high on Wednesday, led by technology issues such as Samsung Electronics and LG Electronics, with shares in the world's No 1 memory chip maker hitting a record high. The Korea Composite Stock Price Index
Published 20 Jan, 2011 12:00am
Indian shares drop

Indian shares drop

Indian shares shed 0.6 percent on Wednesday, led by a decline in software companies, while outlook remained shaky on interest rate hike concerns. IT stocks led the decline, with the sector index dropping 1.2 percent after rising 4.4 percent over the previ
Published 20 Jan, 2011 12:00am
Shanghai, Hong Kong shares rise

Shanghai, Hong Kong shares rise

Shares in China and Hong Kong rose on Wednesday in relatively healthy turnover as investors scooped up companies most likely to benefit from a global economic recovery. China's key stock index closed up 1.8 percent, supported by a report that showed consu
Published 20 Jan, 2011 12:00am
Treasuries slip

Treasuries slip

US Treasury prices fell on Tuesday in a market traders said took its tone in part from hedging operations at the start of a heavy week of corporate bond issuance. New corporate bond deals are expected to total between $20 billion and $25 billion for the h
Published 20 Jan, 2011 12:00am
Treasuries slip

Treasuries slip

US Treasury prices fell on Tuesday in a market traders said took its tone in part from hedging operations at the start of a heavy week of corporate bond issuance. New corporate bond deals are expected to total between $20 billion and $25 billion for the h
Published 20 Jan, 2011 12:00am
European stocks slip

European stocks slip

European shares ended lower after hitting 28-month highs on Wednesday, as disappointing figures from Goldman Sachs and a fall in US housing starts hurt sentiment and prompted some investors to take profits. But analysts said the overall market trend remai
Published 20 Jan, 2011 12:00am
US stocks gain

US stocks gain

US stocks gained on Tuesday, overcoming weak Citigroup results and concerns circling Apple after news of Chief Executive Steve Jobs' medical leave. Investors focused instead on increased price targets for Google, which reports later this week, and Dow com
Published 20 Jan, 2011 12:00am
Wednesday's early afternoon trade: Wall Street falls

Wednesday's early afternoon trade: Wall Street falls

The S&P 500 was on track to post its worst day in about two months on Wednesday as disappointing results from Goldman Sachs and Wells Fargo deflated hopes for strong bank earnings. The Nasdaq fell more than 1 percent, also its biggest daily percentage los
Published 20 Jan, 2011 12:00am
Nikkei stays up

Nikkei stays up

The Nikkei average rose for a third straight session on Wednesday, inching towards recent eight-month highs as a mostly upbeat start to the US earnings season lifted expectations for Japanese firms to show further recovery. Target price hikes for Google a
Published 20 Jan, 2011 12:00am
Taiwan stocks climb

Taiwan stocks climb

Taiwan shares rose 1.09 percent on Wednesday to their highest close since May 20, 2008, with semiconductors among the top gainers on investor optimism about strong earnings results. Fund managers said the index may continue to edge up before the Lunar New
Published 20 Jan, 2011 12:00am
Most South East Asian stocks fall

Most South East Asian stocks fall

Most Southeast Asian stock markets fell in weak volume on Wednesday as investors sold consumer-related stocks in favour of financials and property stocks that could outperform in an inflationary environment. The mildly bullish sentiment at the start of th
Published 20 Jan, 2011 12:00am
Moody's lowers Tunisia's sovereign debt rating

Moody's lowers Tunisia's sovereign debt rating

Moody's Investors Service on Wednesday cut Tunisia's sovereign rating debt by a notch, citing the country's political and economic uncertainties after a popular uprising ousted the president. Moody's, one of the top three international ratings agency, dow
Published 20 Jan, 2011 12:00am
Australia floods hit consumers, coal sector on mend

Australia floods hit consumers, coal sector on mend

Coal export terminals showed signs of recovery on Wednesday as Australia began a clean-up process from massive flood damages that could take months and has undermined consumer confidence in the $1.3 trillion economy highly dependent on commodity exports.
Published 20 Jan, 2011 12:00am
Poland raises interest rate to dampen inflation

Poland raises interest rate to dampen inflation

Poland's central bank on Wednesday raised its key interest rate by 25 basis points to 3.75 percent in an inflation-fighting move, after having held it unchanged for 18 months in a row. The bank announced its decision to raise the minimum bank intervention
Published 20 Jan, 2011 12:00am
EBRD agrees to buy 15 percent of Russia's SDM Bank

EBRD agrees to buy 15 percent of Russia's SDM Bank

The European Bank for Reconstruction and Development agreed to buy 15 percent of Russia's medium-sized SDM Bank in a move to increase funding for small businesses, EBRD said on Wednesday. EBRD, which lends to Russia's small and medium-sized businesses, sa
Published 20 Jan, 2011 12:00am
New York cotton

New York cotton

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

Published 20 Jan, 2011 12:00am
New York cotton

New York cotton

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

Published 20 Jan, 2011 12:00am
National Bank declares profit rates

National Bank declares profit rates

National Bank of Pakistan has declared the profit rates on PLS deposits for the period of six months from 01 July 2010 to 31 December 2010.

Published 20 Jan, 2011 12:00am
National Bank declares profit rates

National Bank declares profit rates

National Bank of Pakistan has declared the profit rates on PLS deposits for the period of six months from 01 July 2010 to 31 December 2010.

Published 20 Jan, 2011 12:00am
Bank Alfalah declares profit rates

Bank Alfalah declares profit rates

Bank Alfalah Limited has declared the profit rates on PLS deposits for the period of six months from 01 July 2010 to 31 December 2010.

Published 20 Jan, 2011 12:00am
Bank Alfalah declares profit rates

Bank Alfalah declares profit rates

Bank Alfalah Limited has declared the profit rates on PLS deposits for the period of six months from 01 July 2010 to 31 December 2010.

Published 20 Jan, 2011 12:00am
Bank of Punjab declares profit rates

Bank of Punjab declares profit rates

Bank of Punjab has declared the profit rates on PLS deposits for the period of six months from 01 July 2010 to 31 December 2010.

Published 20 Jan, 2011 12:00am
Bank of Punjab declares profit rates

Bank of Punjab declares profit rates

Bank of Punjab has declared the profit rates on PLS deposits for the period of six months from 01 July 2010 to 31 December 2010.

Published 20 Jan, 2011 12:00am
Deutsche Bank AG declares profit rates

Deutsche Bank AG declares profit rates

Deutsche Bank AG has declared the profit rates on PLS deposits for the period of six months from 01 July 2010 to 31 December 2010.

Published 20 Jan, 2011 12:00am
Deutsche Bank AG declares profit rates

Deutsche Bank AG declares profit rates

Deutsche Bank AG has declared the profit rates on PLS deposits for the period of six months from 01 July 2010 to 31 December 2010.

Published 20 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 20 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 20 Jan, 2011 12:00am
Pakistan keen to strengthen ties with Bulgaria: Prime Minister

Pakistan keen to strengthen ties with Bulgaria: Prime Minister

Prime Minister Syed Yousuf Raza Gilani on Wednesday said Pakistan regards Bulgaria, a member of the European Union (EU), as an important friendly country and is keen to further strengthen bilateral relations in multi-faceted fields.
Published 20 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 19, 2011).

Published 20 Jan, 2011 12:00am
Afghanistan affairs: Pakistan outlines its policy

Afghanistan affairs: Pakistan outlines its policy

Pakistan on Wednesday identified 'non-interference' in affairs of Afghanistan by its neighbours including India, decisive for peace in Kabul and the region as the world is poised to transfer the security of the country to Afghan people.
Published 20 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 19, 2011).

Published 20 Jan, 2011 12:00am
Afghanistan affairs: Pakistan outlines its policy

Afghanistan affairs: Pakistan outlines its policy

Pakistan on Wednesday identified 'non-interference' in affairs of Afghanistan by its neighbours including India, decisive for peace in Kabul and the region as the world is poised to transfer the security of the country to Afghan people.
Published 20 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 19, 2011).

Published 20 Jan, 2011 12:00am
CCI nod: MoP to table revised 'Gas Load Management Plan'

CCI nod: MoP to table revised 'Gas Load Management Plan'

As Punjab province has mounted pressure on federal government on gas load shedding issue despite consuming much more gas than its production share, the Ministry of Petroleum is set to table a revised 'Gas Load Management Plan' before the Council of Common
Published 20 Jan, 2011 12:00am
CCI nod: MoP to table revised 'Gas Load Management Plan'

CCI nod: MoP to table revised 'Gas Load Management Plan'

As Punjab province has mounted pressure on federal government on gas load shedding issue despite consuming much more gas than its production share, the Ministry of Petroleum is set to table a revised 'Gas Load Management Plan' before the Council of Common
Published 20 Jan, 2011 12:00am
CCI nod: MoP to table revised ''Gas Load Management Plan''

CCI nod: MoP to table revised ''Gas Load Management Plan''

As Punjab province has mounted pressure on federal government on gas load shedding issue despite consuming much more gas than its production share, the Ministry of Petroleum is set to table a revised ''Gas Load Management Plan'' before the Council of Comm
Published 20 Jan, 2011 12:00am
US and China ink $45 billion export deals

US and China ink $45 billion export deals

The United States and China have agreed export deals worth $45 billion dollars on the margins of President Hu Jintao's US state visit, a senior Washington official said Wednesday. "We will be announcing that $45 billion of US export deals have been conclu
Published 20 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 19, 2011).

Published 20 Jan, 2011 12:00am
US and China ink $45 billion export deals

US and China ink $45 billion export deals

The United States and China have agreed export deals worth $45 billion dollars on the margins of President Hu Jintao's US state visit, a senior Washington official said Wednesday. "We will be announcing that $45 billion of US export deals have been conclu
Published 20 Jan, 2011 12:00am
US and China ink $45 billion export deals

US and China ink $45 billion export deals

The United States and China have agreed export deals worth $45 billion dollars on the margins of President Hu Jintao''s US state visit, a senior Washington official said Wednesday. "We will be announcing that $45 billion of US export deals have been concl
Published 20 Jan, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (January 19, 2011).
Published 20 Jan, 2011 12:00am
Lack of documentation: FBR ready for amendment in Sales Tax Act

Lack of documentation: FBR ready for amendment in Sales Tax Act

The Federal Board of Revenue (FBR) is ready to propose amendment in the Sales Tax Act 1990 through Finance Bill 2010, making it compulsory for businessmen to provide National Tax Number (NTN)/computerised national identity card number (CNIC) of the buyers
Published 20 Jan, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (January 19, 2011).

Published 20 Jan, 2011 12:00am
Lack of documentation: FBR ready for amendment in Sales Tax Act

Lack of documentation: FBR ready for amendment in Sales Tax Act

The Federal Board of Revenue (FBR) is ready to propose amendment in the Sales Tax Act 1990 through Finance Bill 2010, making it compulsory for businessmen to provide National Tax Number (NTN)/computerised national identity card number (CNIC) of the buyers
Published 20 Jan, 2011 12:00am
Lack of documentation: FBR ready for amendment in Sales Tax Act

Lack of documentation: FBR ready for amendment in Sales Tax Act

The Federal Board of Revenue (FBR) is ready to propose amendment in the Sales Tax Act 1990 through Finance Bill 2010, making it compulsory for businessmen to provide National Tax Number (NTN)/computerised national identity card number (CNIC) of the buyers
Published 20 Jan, 2011 12:00am
Difficult economic decisions: government seeks PML-Q support

Difficult economic decisions: government seeks PML-Q support

The government on Wednesday sought the support of Pakistan Muslim League-Q to take difficult decisions to put the economy back on track. The Finance Minister Dr Abdul Hafeez Sheikh was quoted as saying that the government has to take difficult decisions t
Published 20 Jan, 2011 12:00am
Difficult economic decisions: government seeks PML-Q support

Difficult economic decisions: government seeks PML-Q support

The government on Wednesday sought the support of Pakistan Muslim League-Q to take difficult decisions to put the economy back on track. The Finance Minister Dr Abdul Hafeez Sheikh was quoted as saying that the government has to take difficult decisions t
Published 20 Jan, 2011 12:00am
Difficult economic decisions: government seeks PML-Q support

Difficult economic decisions: government seeks PML-Q support

The government on Wednesday sought the support of Pakistan Muslim League-Q to take difficult decisions to put the economy back on track. The Finance Minister Dr Abdul Hafeez Sheikh was quoted as saying that the government has to take difficult decisions t
Published 20 Jan, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (January 19, 2011).

Published 20 Jan, 2011 12:00am
Anti-dumping duty by Turkey: $350 million textile exports in danger

Anti-dumping duty by Turkey: $350 million textile exports in danger

Pakistan's some $350 million worth textile exports are at stake as Turkey is considering imposing anti-dumping duty on import of fabrics and garments from many countries, including Pakistan. Exporters told Business Recorder on Wednesday that the Tu
Published 20 Jan, 2011 12:00am
Anti-dumping duty by Turkey: $350 million textile exports in danger

Anti-dumping duty by Turkey: $350 million textile exports in danger

Pakistan's some $350 million worth textile exports are at stake as Turkey is considering imposing anti-dumping duty on import of fabrics and garments from many countries, including Pakistan. Exporters told Business Recorder on Wednesday that the Tu
Published 20 Jan, 2011 12:00am
Anti-dumping duty by Turkey: $350 million textile exports in danger

Anti-dumping duty by Turkey: $350 million textile exports in danger

Pakistan''s some $350 million worth textile exports are at stake as Turkey is considering imposing anti-dumping duty on import of fabrics and garments from many countries, including Pakistan. Exporters told Business Recorder on Wednesday that the T
Published 20 Jan, 2011 12:00am
Index loses 80.56 points

Index loses 80.56 points

Bearish activity continued on second consecutive day at Karachi stock market on Wednesday and KSE-100 index lost 80.56 points due to profit taking by local as well as foreign investors. The benchmark KSE-100 closed at 12,577.61 points from 12,658.16 point
Published 20 Jan, 2011 12:00am
Index loses 80.56 points

Index loses 80.56 points

Bearish activity continued on second consecutive day at Karachi stock market on Wednesday and KSE-100 index lost 80.56 points due to profit taking by local as well as foreign investors. The benchmark KSE-100 closed at 12,577.61 points from 12,658.16 point
Published 20 Jan, 2011 12:00am
Index loses 80.56 points

Index loses 80.56 points

Bearish activity continued on second consecutive day at Karachi stock market on Wednesday and KSE-100 index lost 80.56 points due to profit taking by local as well as foreign investors. The benchmark KSE-100 closed at 12,577.61 points from 12,658.16 point
Published 20 Jan, 2011 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (January 19, 2011).

Published 20 Jan, 2011 12:00am
BRIndex30 down 40.27 points

BRIndex30 down 40.27 points

On Wednesday, the BRIndex30 opened at 9,425.54 points. It touched the intra-day high of 9,521.19 points and low of 9,374.04 points, and closed at 9,385.27 points with a net negative change of -40.27 points, or -0.43 percent. The volume was 148,058,843 sha
Published 20 Jan, 2011 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (January 19, 2011).

Published 20 Jan, 2011 12:00am
BRIndex30 down 40.27 points

BRIndex30 down 40.27 points

On Wednesday, the BRIndex30 opened at 9,425.54 points. It touched the intra-day high of 9,521.19 points and low of 9,374.04 points, and closed at 9,385.27 points with a net negative change of -40.27 points, or -0.43 percent. The volume was 148,058,843 sha
Published 20 Jan, 2011 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Wednesday (January 19, 2011).

Published 20 Jan, 2011 12:00am
Operation in Lyari? Gabol resigns in protest

Operation in Lyari? Gabol resigns in protest

Minister for State, Port and Shipping Ministry Nabeel Gabol has resigned in protest against the on-going crackdown by law enforcement agencies in Lyari, Karachi. The Prime Minister's Secretariat confirmed the receipt of his resignation on Wednesday. The r
Published 20 Jan, 2011 12:00am
Operation in Lyari? Gabol resigns in protest

Operation in Lyari? Gabol resigns in protest

Minister for State, Port and Shipping Ministry Nabeel Gabol has resigned in protest against the on-going crackdown by law enforcement agencies in Lyari, Karachi. The Prime Minister's Secretariat confirmed the receipt of his resignation on Wednesday. The r
Published 20 Jan, 2011 12:00am
Departments defaulting on power bills: discos allowed to cut off supply

Departments defaulting on power bills: discos allowed to cut off supply

In an effort to contain the soaring circular debt, the government has decided to allow distribution companies to cut off power supply to all those public sector departments that have failed to pay their current electricity bills. Secretary Finance, Dr Waq
Published 20 Jan, 2011 12:00am
Departments defaulting on power bills: discos allowed to cut off supply

Departments defaulting on power bills: discos allowed to cut off supply

In an effort to contain the soaring circular debt, the government has decided to allow distribution companies to cut off power supply to all those public sector departments that have failed to pay their current electricity bills. Secretary Finance, Dr Waq
Published 20 Jan, 2011 12:00am
Departments defaulting on power bills: discos allowed to cut off supply

Departments defaulting on power bills: discos allowed to cut off supply

In an effort to contain the soaring circular debt, the government has decided to allow distribution companies to cut off power supply to all those public sector departments that have failed to pay their current electricity bills. Secretary Finance, Dr Waq
Published 20 Jan, 2011 12:00am
Container scam: FBR finalises list of 34 customs officials

Container scam: FBR finalises list of 34 customs officials

The Federal Board of Revenue (FBR) on late Wednesday night finalised names of 34 customs officials, who were holding positions from January 1, 2007 to December 24, 2010, during which a large number of containers carrying goods in the name of ISAF forces o
Published 20 Jan, 2011 12:00am
Container scam: FBR finalises list of 34 customs officials

Container scam: FBR finalises list of 34 customs officials

The Federal Board of Revenue (FBR) on late Wednesday night finalised names of 34 customs officials, who were holding positions from January 1, 2007 to December 24, 2010, during which a large number of containers carrying goods in the name of ISAF forces o
Published 20 Jan, 2011 12:00am
Container scam: FBR finalises list of 34 customs officials

Container scam: FBR finalises list of 34 customs officials

The Federal Board of Revenue (FBR) on late Wednesday night finalised names of 34 customs officials, who were holding positions from January 1, 2007 to December 24, 2010, during which a large number of containers carrying goods in the name of ISAF forces o
Published 20 Jan, 2011 12:00am
Large number of containers pilfered, Supreme Court told

Large number of containers pilfered, Supreme Court told

The Supreme Court was informed on Wednesday that a huge number of Nato containers carrying Afghan Transit Trade (ATTA) goods have been pilfered inside the country without crossing the border, which caused about Rs 19 to 37 billion loss to national exchequ
Published 20 Jan, 2011 12:00am
Large number of containers pilfered, Supreme Court told

Large number of containers pilfered, Supreme Court told

The Supreme Court was informed on Wednesday that a huge number of Nato containers carrying Afghan Transit Trade (ATTA) goods have been pilfered inside the country without crossing the border, which caused about Rs 19 to 37 billion loss to national exchequ
Published 20 Jan, 2011 12:00am
Large number of containers pilfered, Supreme Court told

Large number of containers pilfered, Supreme Court told

The Supreme Court was informed on Wednesday that a huge number of Nato containers carrying Afghan Transit Trade (ATTA) goods have been pilfered inside the country without crossing the border, which caused about Rs 19 to 37 billion loss to national exchequ
Published 20 Jan, 2011 12:00am
One killed, 33 injured in blast near school

One killed, 33 injured in blast near school

One person was killed and 33 other, mostly students of a private school, were injured when a bomb placed on a horse-driven cart went off with a bang outside a school in the Nuthia locality of Peshawar Cantonment on Wednesday. Talking to reporters, Capital
Published 20 Jan, 2011 12:00am
One killed, 33 injured in blast near school

One killed, 33 injured in blast near school

One person was killed and 33 other, mostly students of a private school, were injured when a bomb placed on a horse-driven cart went off with a bang outside a school in the Nuthia locality of Peshawar Cantonment on Wednesday. Talking to reporters, Capital
Published 20 Jan, 2011 12:00am
Taliban chief Mullah Omar treated in Pakistan: report

Taliban chief Mullah Omar treated in Pakistan: report

The reclusive one-eyed chief of the Afghan Taliban Mullah Mohammed Omar was treated for a heart attack in Pakistan with the help of its intelligence service, the Washington Post reported Tuesday.
Published 20 Jan, 2011 12:00am
Taliban chief Mullah Omar treated in Pakistan: report

Taliban chief Mullah Omar treated in Pakistan: report

The reclusive one-eyed chief of the Afghan Taliban Mullah Mohammed Omar was treated for a heart attack in Pakistan with the help of its intelligence service, the Washington Post reported Tuesday.
Published 20 Jan, 2011 12:00am
PAC for timely recovery instead of RGST

PAC for timely recovery instead of RGST

Acting Chairman of the Public Accounts Committee (PAC) Zahid Hamid has said that government can generate huge additional revenue through timely recovery of due taxes instead of imposing reformed general sales tax (RGST) on the public. He made these remark
Published 20 Jan, 2011 12:00am
PAC for timely recovery instead of RGST

PAC for timely recovery instead of RGST

Acting Chairman of the Public Accounts Committee (PAC) Zahid Hamid has said that government can generate huge additional revenue through timely recovery of due taxes instead of imposing reformed general sales tax (RGST) on the public. He made these remark
Published 20 Jan, 2011 12:00am
PAC for timely recovery instead of RGST

PAC for timely recovery instead of RGST

Acting Chairman of the Public Accounts Committee (PAC) Zahid Hamid has said that government can generate huge additional revenue through timely recovery of due taxes instead of imposing reformed general sales tax (RGST) on the public. He made these remark
Published 20 Jan, 2011 12:00am
PSO stops fuel supply to Pakistan Railways

PSO stops fuel supply to Pakistan Railways

Pakistan State Oil (PSO) has stopped fuel supplies to Pakistan Railways for non-payment of outstanding amount. Sources said on Wednesday that PSO's current outstanding status against credit supplies to Pakistan Railways has reached Rs 991 million as on Ja
Published 20 Jan, 2011 12:00am
PSO stops fuel supply to Pakistan Railways

PSO stops fuel supply to Pakistan Railways

Pakistan State Oil (PSO) has stopped fuel supplies to Pakistan Railways for non-payment of outstanding amount. Sources said on Wednesday that PSO's current outstanding status against credit supplies to Pakistan Railways has reached Rs 991 million as on Ja
Published 20 Jan, 2011 12:00am
PSO stops fuel supply to Pakistan Railways

PSO stops fuel supply to Pakistan Railways

Pakistan State Oil (PSO) has stopped fuel supplies to Pakistan Railways for non-payment of outstanding amount. Sources said on Wednesday that PSO''s current outstanding status against credit supplies to Pakistan Railways has reached Rs 991 million as on J
Published 20 Jan, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 20 Jan, 2011 12:00am
Scandal-hit India Prime Minister skirts major cabinet changes

Scandal-hit India Prime Minister skirts major cabinet changes

Indian Prime Minister Manmohan Singh tweaked his cabinet line-up on Wednesday, sparking criticism the government was shying away from battling graft scandals and high inflation, and dimming prospects for major economic reforms soon. Major portfolios such
Published 20 Jan, 2011 12:00am
Scandal-hit India Prime Minister skirts major cabinet changes

Scandal-hit India Prime Minister skirts major cabinet changes

Indian Prime Minister Manmohan Singh tweaked his cabinet line-up on Wednesday, sparking criticism the government was shying away from battling graft scandals and high inflation, and dimming prospects for major economic reforms soon. Major portfolios such
Published 20 Jan, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 20 Jan, 2011 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 20 Jan, 2011 12:00am
Panezai to replace Haji at PSO?

Panezai to replace Haji at PSO?

Nazim Haji's replacement as chairman Pakistan State Oil (PSO) is on the cards. A summary for Haji is said to have been moved by the concerned department of the ministry for approval of the competent authority. Nazim Haji, a businessman from Karachi became
Published 20 Jan, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 20 Jan, 2011 12:00am
Panezai to replace Haji at PSO?

Panezai to replace Haji at PSO?

Nazim Haji's replacement as chairman Pakistan State Oil (PSO) is on the cards. A summary for Haji is said to have been moved by the concerned department of the ministry for approval of the competent authority. Nazim Haji, a businessman from Karachi became
Published 20 Jan, 2011 12:00am
Panezai to replace Haji at PSO?

Panezai to replace Haji at PSO?

Nazim Haji''s replacement as chairman Pakistan State Oil (PSO) is on the cards. A summary for Haji is said to have been moved by the concerned department of the ministry for approval of the competent authority. Nazim Haji, a businessman from Karachi becam
Published 20 Jan, 2011 12:00am
Arab leaders reject 'interference' on Christians

Arab leaders reject 'interference' on Christians

Arab leaders on Wednesday voiced their "total rejection" of foreign interference in Arab affairs, especially over the region's Christian minorities. "Arab kings and presidents express their total rejection of attempts by certain states and foreign parties
Published 20 Jan, 2011 12:00am
Arab leaders reject 'interference' on Christians

Arab leaders reject 'interference' on Christians

Arab leaders on Wednesday voiced their "total rejection" of foreign interference in Arab affairs, especially over the region's Christian minorities. "Arab kings and presidents express their total rejection of attempts by certain states and foreign parties
Published 20 Jan, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (January 19, 2011).

Published 20 Jan, 2011 12:00am
4, 000 KESC employees retrenched

4, 000 KESC employees retrenched

The Karachi Electric Supply Company announced today the elimination of a number of its non-core and redundant functions. People working in these functions were offered a voluntary separation scheme that closed on January. 15, 2011. Around 4,000 of those w
Published 20 Jan, 2011 12:00am
4, 000 KESC employees retrenched

4, 000 KESC employees retrenched

The Karachi Electric Supply Company announced today the elimination of a number of its non-core and redundant functions. People working in these functions were offered a voluntary separation scheme that closed on January. 15, 2011. Around 4,000 of those w
Published 20 Jan, 2011 12:00am
4, 000 KESC employees retrenched

4, 000 KESC employees retrenched

The Karachi Electric Supply Company announced today the elimination of a number of its non-core and redundant functions. People working in these functions were offered a voluntary separation scheme that closed on January. 15, 2011. Around 4,000 of those w
Published 20 Jan, 2011 12:00am
SBP lifts ban on cash export in three currencies

SBP lifts ban on cash export in three currencies

In a major move to increase foreign inflows the State Bank of Pakistan on Wednesday allowed Exchange Companies to export cash in three major currencies UK Pound Sterling, Euro and UAE Dirham and import equivalent dollar against export. Ban on the export o
Published 20 Jan, 2011 12:00am
German General lauds Pakistan's role in war on terror

German General lauds Pakistan's role in war on terror

Chief of Defence Staff, German Armed Forces General Volker Wieker lauded the role and sacrifices of Pakistan against the war on terror. He expressed these views during a meeting with Defence Minister Chaudhry Ahmed Mukhtar on Thursday. General Volker said
Published 20 Jan, 2011 12:00am
MQM activist among five killed

MQM activist among five killed

At least five people including a son of senior activist of Muttahida Qaumi Movement were killed in different incidents in the metropolis on Wednesday. According to police sources, a son of the senior activist of Muttahida Qaumi Movement was targeted by un
Published 20 Jan, 2011 12:00am
Suspected TTP member arrested

Suspected TTP member arrested

The Crime Investigation Department (CID) of Sindh police on Wednesday claimed to have arrested an alleged member of the Tehreek-e-Taliban Pakistan (TTP). According to CID officials, an alleged TTP member, who was identified as Chaman Gulzar, was arrested
Published 20 Jan, 2011 12:00am
THE RUPEE: dollar slides on currency market

THE RUPEE: dollar slides on currency market

After a sharp decline in the value of the rupee, it improved versus the US currency on the currency market on Wednesday, dealers said. The rupee moved up with a rise of 10 paisa in relation to dollar for buying and selling at 85.68 and 85.72, they said.
Published 20 Jan, 2011 12:00am
Security matters in Khyber Pakhtunkhwa reviewed

Security matters in Khyber Pakhtunkhwa reviewed

Minister for Interior A Rehman Malik on Wednesday said that government is committed to ensuring peace in the country and for further improving the security situation. Presiding a high level meeting here at Ministry of Interior held to review the security
Published 20 Jan, 2011 12:00am
THE RUPEE: dollar slides on currency market

THE RUPEE: dollar slides on currency market

After a sharp decline in the value of the rupee, it improved versus the US currency on the currency market on Wednesday, dealers said. The rupee moved up with a rise of 10 paisa in relation to dollar for buying and selling at 85.68 and 85.72, they said.
Published 20 Jan, 2011 12:00am
US Consulate to start issuing general tourists visas from March

US Consulate to start issuing general tourists visas from March

The Consulate General of United States of America (USA) here in Karachi will start issuing general tourist visas from March this year to people in Sindh and Balochistan, tripling the numbers from the current volume. "The opening of this full scale visa se
Published 20 Jan, 2011 12:00am
PML-Q shares five-point agenda with government

PML-Q shares five-point agenda with government

In a bid to steer the country out of economic crises, the PML-Q on Wednesday shared its ready to implement five-point agenda with the government along with a warning of Tunis model public rebellion if corrective steps not taken. The government team has in
Published 20 Jan, 2011 12:00am
Vestas seeking deal for sale of power turbines

Vestas seeking deal for sale of power turbines

Vestas, the world giant in wind turbine manufacturing is in Pakistan to hit its market with the latest research that this country has unique potential for wind power production. Vestas' president, Sean Sutton, in right now in Pakistan with his team to neg
Published 20 Jan, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (January 19, 2011).

Published 20 Jan, 2011 12:00am
Prime Minister calls on President

Prime Minister calls on President

Prime Minister Syed Yousuf Raza Gilani called on President Asif Ali Zardari here at the Aiwan-e-Sadr on Wednesday night. Current situation in the country was discussed during the meeting. The President apprised the Prime Minister about his recent visits t
Published 20 Jan, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Wednesday (January 19, 2011).

Published 20 Jan, 2011 12:00am
For security of Zardari: no plan to seek foreign guards

For security of Zardari: no plan to seek foreign guards

Spokesman to the President has made it clear that "No proposal whatsoever is under consideration to employ or seek foreign guards for the security of the President Asif Ali Zardari. Contradicting report published in a section of media stating that the gov
Published 20 Jan, 2011 12:00am
Cross-LoC trade resumes

Cross-LoC trade resumes

The cross-border trade between Azad Jammu Kashmir and Indian-held Kashmir resumed late Tuesday after a couple of weeks, official sources said. Sources said on Wednesday, more than 130 vehicles having dry fruit and handicraft crossed to AJK from IOK throug
Published 20 Jan, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Wednesday (January 19, 2011).

Published 20 Jan, 2011 12:00am
Opening of four medical colleges challenged

Opening of four medical colleges challenged

A petition challenging opening of four medical colleges in different parts of the province by the Punjab government. Petitioner Noshab A Khan Advocate said medical colleges should have approved by the Pakistan Medical and Dental Council (PMDC) for validat
Published 20 Jan, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Wednesday (January 19, 2011) and for Thursday (January 20, 2011).
Published 20 Jan, 2011 12:00am
Seminar on awareness campaign of APTTA held at ICCI

Seminar on awareness campaign of APTTA held at ICCI

The movement of cargo under the new Afghanistan Pakistan Transit Trade Agreement (APTTA) shall be allowed on internationally acceptable and verifiable standards in sealed trucks except fresh fruits and vegetables.
Published 20 Jan, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Wednesday (January 19, 2011).

Published 20 Jan, 2011 12:00am
Chairman FPCCI's body appointed

Chairman FPCCI's body appointed

President, FPCCI, Senator Haji Ghulam Ali has appointed Gulzar Firoz Former Chairman, Pakistan Tanners Association as Chairman of FPCCI's Standing Committee on "Environment" for the year 2011. Firoz is an expert in the field of environment and has been de
Published 20 Jan, 2011 12:00am
LME official prices

LME official prices

The following were Tuesday official prices.

Published 20 Jan, 2011 12:00am