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Archive - 2011-01-22
Weekly inflation witnesses decrease
Top News

Weekly inflation witnesses decrease

ISLAMABAD: The Sensitive Price Indicator (SPI), for the week ended on January 20, for the lowest income group up to Rs.3
Published 22 Jan, 2011 09:22am
Friday's midday trade: Dow, S&P 500 edge up

Friday's midday trade: Dow, S&P 500 edge up

The Dow and S&P 500 rose on Friday as General Electric Co's earnings bolstered views the recovery was gaining traction and helped set the market back on its up trend after two days of declines. But the Nasdaq slipped, as shares of Google pared early gains
Published 22 Jan, 2011 12:00am
BSE Sensex posts first weekly gain in three weeks

BSE Sensex posts first weekly gain in three weeks

Indian shares ended the week higher after two weeks of decline, but shed 0.2 percent on Friday, weighed down by software majors after investors fretted over the exit of two senior personnel at Wipro. All eyes were now set on the central bank's quarterly r
Published 22 Jan, 2011 12:00am
Most southeast Asian stocks drop

Most southeast Asian stocks drop

Most Southeast Asian stock markets fell on Friday, with Indonesia and Philippines dipping more than 10 percent off historical highs at one point as disappointing US earnings and fears of further monetary tightening in China turned sentiment sour.Malaysia'
Published 22 Jan, 2011 12:00am
Taiwan stocks down

Taiwan stocks down

Taiwan stocks ended 0.75 percent lower on Friday, with semiconductors further pressuring the index ahead of major technology companies' quarterly results due out next week. Semiconductors shares slipped 1.28 percent, with TSMC and UMC, the world's two lar
Published 22 Jan, 2011 12:00am
Australian, New Zealand dollars off lows

Australian, New Zealand dollars off lows

The Australian dollar erased most of its losses against the greenback on Friday in a dramatic mid-session turnaround after a two-percent rally in Shanghai stocks took the sting out of worries about more tightening by China.
Published 22 Jan, 2011 12:00am
Fears of inflation weaken Asian currencies

Fears of inflation weaken Asian currencies

The Indian rupee and the Thai baht led a broad fall in Asian currencies on Friday as foreign investors sold domestic assets on persistent concerns that authorities are falling behind accelerating inflation. Investors are expected to continue to stay away
Published 22 Jan, 2011 12:00am
Indian rupee retreats

Indian rupee retreats

The Indian rupee bounced off seven week lows on Friday, cheered by gains in the euro versus the dollar, but choppy domestic shares continued to raise worries about sustained foreign fund withdrawals. The partially convertible rupee closed at 45.6150/6250
Published 22 Jan, 2011 12:00am
Swiss franc lower

Swiss franc lower

The Swiss franc hit a fresh one-month low against the euro on Friday after Swiss National Bank members said the threat of deflation is largely over and scotched ideas the SNB could raise interest rates any time soon. The decline added to the franc's large
Published 22 Jan, 2011 12:00am
Dollar buoyed by strong US economic data

Dollar buoyed by strong US economic data

The dollar rose on Thursday as better-than-expected housing and employment data suggested the US economy was improving, though hopes Europe was getting a handle on its debt crisis limited euro selling. Worries that China will try to choke off excessive gr
Published 22 Jan, 2011 12:00am
Early trade in New York: Dollar falls against Swiss franc

Early trade in New York: Dollar falls against Swiss franc

The dollar fell 1 percent to a session low against the Swiss franc on Friday amid broad dollar weakness on expectations of a strengthened eurozone rescue fund and a strong German Ifo business confidence report. The dollar was last at 0.9580 Swiss francs o
Published 22 Jan, 2011 12:00am
Euro races to two-month high versus dollar in London

Euro races to two-month high versus dollar in London

The euro rose to a two-month high against the dollar on Friday, helped by Asian sovereign demand and improving confidence in the eurozone, but its rally appeared on shaky ground as it neared key technical resistance. Expectations of a strengthened eurozon
Published 22 Jan, 2011 12:00am
Euro rises in Asia

Euro rises in Asia

The euro rose against the dollar on Friday, nearing a two-month high hit earlier this week, and traders said the currency may see more gains in the near-term after a recent improvement in sentiment. Traders say successful bond sales from highly indebted c
Published 22 Jan, 2011 12:00am
Sterling rises versus dollar

Sterling rises versus dollar

Sterling firmed against the dollar on Friday, shrugging off poor UK retail sales data as it tracked gains in the euro against the US currency and remained supported by expectations for higher UK interest rates. Official data showed retail sales fell 0.8 p
Published 22 Jan, 2011 12:00am
Yuan slightly up

Yuan slightly up

China's yuan edged higher against the US currency on Friday, helped by a drop in the dollar index and shrugging off a weaker mid-point fixing. The yuan in the spot market closed at 6.5833 per dollar, down slightly from Thursday's 6.5854. Before trade bega
Published 22 Jan, 2011 12:00am
Google co-founder Page takes over, targets Facebook

Google co-founder Page takes over, targets Facebook

Google Inc co-founder Larry Page will take over as CEO from Eric Schmidt, a surprise move to make the company more nimble at a time when competition heats up with fast-growing rivals like Facebook. Page's assumption of day-to-day operations marks a return
Published 22 Jan, 2011 12:00am
Canadian canola falls on Chinese fears

Canadian canola falls on Chinese fears

ICE Canadian canola futures fell on Thursday, pressured with other commodities by concerns China may tighten monetary policy and on profit-taking after three days of gains. Oil, metals and some agricultural markets sold off after stronger-than-expected Ch
Published 22 Jan, 2011 12:00am
No change on grain market

No change on grain market

Not a single change was seen on the wholesales grain and seed market on Friday, grain and seed merchants group's release said.
Published 22 Jan, 2011 12:00am
Strong mills' buying persists on cotton market despite high prices

Strong mills' buying persists on cotton market despite high prices

Strong mills' buying was again witnessed on the cotton market on Friday as rates depicted upward trend in global and domestic market, dealers said. The Karachi Cotton Association (KCA) spot rate was unchanged at Rs 10,000, they said. Phutti prices are not
Published 22 Jan, 2011 12:00am
India's rapeseed output to rise 10 percent

India's rapeseed output to rise 10 percent

Rapeseed output in India's top producing state may jump 10 percent this year, cutting cooking oil imports of the world's top buyer by 500,000 tonnes in 2010/11, farm and trade officials said on Friday. Planting in a larger area in Rajasthan has raised Ind
Published 22 Jan, 2011 12:00am
China's December coal imports surge 25 percent

China's December coal imports surge 25 percent

China's coal imports surged 25 percent to 17.34 million tonnes in December, capping a record month and annual high fuelled by soaring demand from harsh winter weather. December's robust numbers bring China's full-year coal imports to a record 164.78 milli
Published 22 Jan, 2011 12:00am
China's state corn and soya auctions to continue next week

China's state corn and soya auctions to continue next week

China will continue to offer corn and soyabeans from state reserves at auctions next week, and will at the same time buy for state reserves from the domestic market. Beijing will offer a total of 1.8 million tonnes of corn and 300,000 tonnes of soya on Tu
Published 22 Jan, 2011 12:00am
Soyabean export premiums firm at US Gulf Coast

Soyabean export premiums firm at US Gulf Coast

Soyabean export premiums at the US Gulf Coast held steady on Thursday as demand from China for nearby shipments was slowing seasonally as South America's harvest approaches, traders said. "We're running out of demand to target as the Brazilian crop gets c
Published 22 Jan, 2011 12:00am
Blair 'profoundly regrets' lives lost

Blair 'profoundly regrets' lives lost

Former prime minister Tony Blair told Britain's Iraq war inquiry Friday that he profoundly regretted the loss of life in the conflict, but sparked angry shouts of "too late" from dead soldiers' families. In an emotional summing up after his second appeara
Published 22 Jan, 2011 12:00am
US Midwest corn bids mixed, soyabean higher

US Midwest corn bids mixed, soyabean higher

Spot basis bids for corn were steady to mixed, while soyabean bids were steady to a touch higher around US Midwest Thursday amid some farmer selling late in the day as CBOT grains futures turned up, dealers said. Corn futures rebounded on Thursday as Arge
Published 22 Jan, 2011 12:00am
Blair 'profoundly regrets' lives lost

Blair 'profoundly regrets' lives lost

Former prime minister Tony Blair told Britain's Iraq war inquiry Friday that he profoundly regretted the loss of life in the conflict, but sparked angry shouts of "too late" from dead soldiers' families. In an emotional summing up after his second appeara
Published 22 Jan, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 95,241 tonnes of cargo including 57,842 tonnes of import cargo, 37,399 tonnes of export cargo, 3,583 loaded and empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 57,842 tonnes comprised
Published 22 Jan, 2011 12:00am
Petitioner moves Supreme Court against targeted killings

Petitioner moves Supreme Court against targeted killings

A petition was moved in the Supreme Court of Pakistan on Friday against the rising incidents of targeted killings in Karachi, under Article 184(3) of the Constitution, making federal government through secretary interior, minister of interior, chief secre
Published 22 Jan, 2011 12:00am
Survey reveals key citizens' issues: Connectivity of Pakistan

Survey reveals key citizens' issues: Connectivity of Pakistan

A survey was conducted on the transport sector of Pakistan to get first hand experience of citizens' problems. Out of all the surveys distributed randomly in various universities, engineering firms and government agencies located in either Islamabad or Ra
Published 22 Jan, 2011 12:00am
Petitioner moves Supreme Court against targeted killings

Petitioner moves Supreme Court against targeted killings

A petition was moved in the Supreme Court of Pakistan on Friday against the rising incidents of targeted killings in Karachi, under Article 184(3) of the Constitution, making federal government through secretary interior, minister of interior, chief secre
Published 22 Jan, 2011 12:00am
KARACHI CHRONICLE: Karachi gets the runaround...again

KARACHI CHRONICLE: Karachi gets the runaround...again

In the wake of the current spate of targeted killings, Karachi is once again promised the government will take strong action against the culprits, that there will soon be peace in the city, that measures are "planned" to apprehend the troublemakers etc-et
Published 22 Jan, 2011 12:00am
ART FACTS: A lifetime experience

ART FACTS: A lifetime experience

Now artists all over the world became mobile and no longer restricted to their countries. They become restless in search of new stimulus and ideas around the globe. There are few events that give them this opportunity and The International Art Expo Malays
Published 22 Jan, 2011 12:00am
BOOK REVIEWS: Awaz-e-Khalq

BOOK REVIEWS: Awaz-e-Khalq

The book by Zia-ul-Islam Zuberi is not something thematic - confined to any particular subject. As the author himself mentions in the foreword it is a collection of some 200 columns in Urdu language. He claims to have written about 10,000 columns in Urdu
Published 22 Jan, 2011 12:00am
Superior courts: 'specialist tax benches' suggested

Superior courts: 'specialist tax benches' suggested

Federal Tax Ombudsman (FTO) has recommended constitution of 'specialist tax benches' in High Courts and Supreme Court to promptly decide tax cases, particularly the customs-related matters. In his report on the ISAF containers scam, the FTO said that the
Published 22 Jan, 2011 12:00am
BRIDGE NOTES: Can you make it?

BRIDGE NOTES: Can you make it?

Some hands are a real tough cookie. Even with all 4 hands exposed sometimes it is difficult to visualise how the contract can successfully come through. Those who plan their play with meticulous care and have the foresight to visualise far ahead how the c
Published 22 Jan, 2011 12:00am
Superior courts: 'specialist tax benches' suggested

Superior courts: 'specialist tax benches' suggested

Federal Tax Ombudsman (FTO) has recommended constitution of 'specialist tax benches' in High Courts and Supreme Court to promptly decide tax cases, particularly the customs-related matters. In his report on the ISAF containers scam, the FTO said that the
Published 22 Jan, 2011 12:00am
New York cotton

New York cotton

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

Published 22 Jan, 2011 12:00am
Superior courts: ''specialist tax benches'' suggested

Superior courts: ''specialist tax benches'' suggested

Federal Tax Ombudsman (FTO) has recommended constitution of ''specialist tax benches'' in High Courts and Supreme Court to promptly decide tax cases, particularly the customs-related matters. In his report on the ISAF containers scam, the FTO said that th
Published 22 Jan, 2011 12:00am
New York cotton

New York cotton

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

Published 22 Jan, 2011 12:00am
Duty on smuggling-prone items may be slashed

Duty on smuggling-prone items may be slashed

The government is likely to reduce customs duty on major smuggling prone items under the tariff rationalisation policy to check smuggling under the Afghanistan Pakistan Transit Trade Agreement (APTTA). Sources told Business Recorder here on Friday
Published 22 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 22 Jan, 2011 12:00am
Duty on smuggling-prone items may be slashed

Duty on smuggling-prone items may be slashed

The government is likely to reduce customs duty on major smuggling prone items under the tariff rationalisation policy to check smuggling under the Afghanistan Pakistan Transit Trade Agreement (APTTA). Sources told Business Recorder here on Friday
Published 22 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 22 Jan, 2011 12:00am
Duty on smuggling-prone items may be slashed

Duty on smuggling-prone items may be slashed

The government is likely to reduce customs duty on major smuggling prone items under the tariff rationalisation policy to check smuggling under the Afghanistan Pakistan Transit Trade Agreement (APTTA). Sources told Business Recorder here on Friday
Published 22 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 Friday (January 21, 2011).

Published 22 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 Friday (January 21, 2011).

Published 22 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 Friday (January 21, 2011).

Published 22 Jan, 2011 12:00am
68 projects costing Rs 170.4 billion approved by CDWP

68 projects costing Rs 170.4 billion approved by CDWP

The Central Development Working Party (CDWP) has approved and recommended 68 projects costing Rs 170.4 billion with foreign exchange component of Rs 36.0 billion. However, the CDWP has blocked a move of the Cabinet Division to purchase a helicopter for Ve
Published 22 Jan, 2011 12:00am
68 projects costing Rs 170.4 billion approved by CDWP

68 projects costing Rs 170.4 billion approved by CDWP

The Central Development Working Party (CDWP) has approved and recommended 68 projects costing Rs 170.4 billion with foreign exchange component of Rs 36.0 billion. However, the CDWP has blocked a move of the Cabinet Division to purchase a helicopter for Ve
Published 22 Jan, 2011 12:00am
68 projects costing Rs 170.4 billion approved by CDWP

68 projects costing Rs 170.4 billion approved by CDWP

The Central Development Working Party (CDWP) has approved and recommended 68 projects costing Rs 170.4 billion with foreign exchange component of Rs 36.0 billion. However, the CDWP has blocked a move of the Cabinet Division to purchase a helicopter for Ve
Published 22 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 Friday (January 21, 2011).

Published 22 Jan, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (January 21, 2011).
Published 22 Jan, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (January 21, 2011).

Published 22 Jan, 2011 12:00am
KESC may shut down LT, HT operations in some areas

KESC may shut down LT, HT operations in some areas

Following acts of violence and incidents of intimidation that occurred at KESC offices across Karachi on Thursday, the KESC claimed that it had gathered reports from all its main operational centres that said "rogue" elements from within the unions and un
Published 22 Jan, 2011 12:00am
KESC may shut down LT, HT operations in some areas

KESC may shut down LT, HT operations in some areas

Following acts of violence and incidents of intimidation that occurred at KESC offices across Karachi on Thursday, the KESC claimed that it had gathered reports from all its main operational centres that said "rogue" elements from within the unions and un
Published 22 Jan, 2011 12:00am
KESC may shut down LT, HT operations in some areas

KESC may shut down LT, HT operations in some areas

Following acts of violence and incidents of intimidation that occurred at KESC offices across Karachi on Thursday, the KESC claimed that it had gathered reports from all its main operational centres that said "rogue" elements from within the unions and un
Published 22 Jan, 2011 12:00am
Management moves to undisclosed location

Management moves to undisclosed location

Under an extreme threat and a risk to life and security, KESC's management has been forced to move to undisclosed location for managing possible strategic operations of the company remotely, KESC spokesman Aamir Abbasi said in an e-mail sent to media on F
Published 22 Jan, 2011 12:00am
Management moves to undisclosed location

Management moves to undisclosed location

Under an extreme threat and a risk to life and security, KESC's management has been forced to move to undisclosed location for managing possible strategic operations of the company remotely, KESC spokesman Aamir Abbasi said in an e-mail sent to media on F
Published 22 Jan, 2011 12:00am
Management moves to undisclosed location

Management moves to undisclosed location

Under an extreme threat and a risk to life and security, KESC''s management has been forced to move to undisclosed location for managing possible strategic operations of the company remotely, KESC spokesman Aamir Abbasi said in an e-mail sent to media on
Published 22 Jan, 2011 12:00am
Index gains 20 points

Index gains 20 points

Late buying in some select stocks in fertiliser and refineries supported the KSE-100 index on Friday to register an increase of 20.04 points and to close at the level of 12,431.91 points. After opening on a strong positive note the index hit 12,571.64 poi
Published 22 Jan, 2011 12:00am
Index gains 20 points

Index gains 20 points

Late buying in some select stocks in fertiliser and refineries supported the KSE-100 index on Friday to register an increase of 20.04 points and to close at the level of 12,431.91 points. After opening on a strong positive note the index hit 12,571.64 poi
Published 22 Jan, 2011 12:00am
Index gains 20 points

Index gains 20 points

Late buying in some select stocks in fertiliser and refineries supported the KSE-100 index on Friday to register an increase of 20.04 points and to close at the level of 12,431.91 points. After opening on a strong positive note the index hit 12,571.64 poi
Published 22 Jan, 2011 12:00am
BRIndex30 down 15.11 points

BRIndex30 down 15.11 points

On Friday, the BRIndex30 opened at 9,195.47 points. It touched the intra-day high of 9,345.78 points and low of 9,160.64 points, and closed at 9,180.36 points with a net negative change of -15.11 points, or -0.16 percent.
Published 22 Jan, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (January 21, 2011).

Published 22 Jan, 2011 12:00am
BRIndex30 down 15.11 points

BRIndex30 down 15.11 points

On Friday, the BRIndex30 opened at 9,195.47 points. It touched the intra-day high of 9,345.78 points and low of 9,160.64 points, and closed at 9,180.36 points with a net negative change of -15.11 points, or -0.16 percent.
Published 22 Jan, 2011 12:00am
Afghan, Palestinian refugees on hunger strike in Greece

Afghan, Palestinian refugees on hunger strike in Greece

Nine Afghan and Palestinian refugees have gone on hunger strike in Greece in a bid for asylum after Iranian migrants achieved their goal with a similar campaign last year, their support group said Friday. The two Palestinian asylum-seekers are already in
Published 22 Jan, 2011 12:00am
China earmarks $303 billion for safe water

China earmarks $303 billion for safe water

China plans to invest $303 billion in water infrastructure projects over the next five years that would give millions of rural residents access to safe drinking water, state media reported. Severe flooding and droughts across the country last year destroy
Published 22 Jan, 2011 12:00am
Almost one third of Zimbabwe 'voters' dead: report

Almost one third of Zimbabwe 'voters' dead: report

Almost one third of the names appearing on Zimbabwe's voters roll are dead while more than 2,000 would be more than 100 years old, a report by an independent electoral organisation said on Friday. "The list-to-people test showed that 27 percent of voters
Published 22 Jan, 2011 12:00am
Profit taking hits LSE index

Profit taking hits LSE index

Bullish sentiment prevailed at Lahore Stock Exchange on Friday where equities extended gains but came under pressure because of profit taking ahead of closing of trading. The LSE-25 index marginally improved by 3.99 points and ended at 3839.59 points agai
Published 22 Jan, 2011 12:00am
Profit taking hits LSE index

Profit taking hits LSE index

Bullish sentiment prevailed at Lahore Stock Exchange on Friday where equities extended gains but came under pressure because of profit taking ahead of closing of trading. The LSE-25 index marginally improved by 3.99 points and ended at 3839.59 points agai
Published 22 Jan, 2011 12:00am
Bears in driving seat on ISE

Bears in driving seat on ISE

Bears dominated the proceedings at Islamabad Stock Exchange (ISE) where equities showed negative signs amid decrease in index. ISE-10 Index was down by 16.32 points from 3,075.24 points to 3,058.92 points. Turnover amounted to 166,748 shares as compared t
Published 22 Jan, 2011 12:00am
Bears in driving seat on ISE

Bears in driving seat on ISE

Bears dominated the proceedings at Islamabad Stock Exchange (ISE) where equities showed negative signs amid decrease in index. ISE-10 Index was down by 16.32 points from 3,075.24 points to 3,058.92 points. Turnover amounted to 166,748 shares as compared t
Published 22 Jan, 2011 12:00am
US urged to invest more in energy sector

US urged to invest more in energy sector

PML-N Senator Ishaq Dar on Thursday urged US for greater investment in Pakistan energy and power sectors besides giving larger market access to the country's agriculture and industrial products. He was talking to the head of a US delegation, Robin Raphel,
Published 22 Jan, 2011 12:00am
US urged to invest more in energy sector

US urged to invest more in energy sector

PML-N Senator Ishaq Dar on Thursday urged US for greater investment in Pakistan energy and power sectors besides giving larger market access to the country's agriculture and industrial products. He was talking to the head of a US delegation, Robin Raphel,
Published 22 Jan, 2011 12:00am
US urged to invest more in energy sector

US urged to invest more in energy sector

PML-N Senator Ishaq Dar on Thursday urged US for greater investment in Pakistan energy and power sectors besides giving larger market access to the country''s agriculture and industrial products. He was talking to the head of a US delegation, Robin Raphel
Published 22 Jan, 2011 12:00am
Four million flood-hit Pakistanis still homeless: Red Cross statement

Four million flood-hit Pakistanis still homeless: Red Cross statement

More than four million Pakistanis are still homeless six months after historic floods devastated the South Asian country, the Red Cross said Friday. "Six months on from the devastating flooding in Pakistan, more than four million people remain in a desper
Published 22 Jan, 2011 12:00am
Four million flood-hit Pakistanis still homeless: Red Cross statement

Four million flood-hit Pakistanis still homeless: Red Cross statement

More than four million Pakistanis are still homeless six months after historic floods devastated the South Asian country, the Red Cross said Friday. "Six months on from the devastating flooding in Pakistan, more than four million people remain in a desper
Published 22 Jan, 2011 12:00am
India steps up pressure for cotton exports

India steps up pressure for cotton exports

India, the world's second top producer of cotton, stepped up pressure on sluggish exporters on Friday as the farm minister gave them more time to organise overseas sales and suggested export levels could rise. India, the world's second-biggest producer, h
Published 22 Jan, 2011 12:00am
India steps up pressure for cotton exports

India steps up pressure for cotton exports

India, the world's second top producer of cotton, stepped up pressure on sluggish exporters on Friday as the farm minister gave them more time to organise overseas sales and suggested export levels could rise. India, the world's second-biggest producer, h
Published 22 Jan, 2011 12:00am
India steps up pressure for cotton exports

India steps up pressure for cotton exports

India, the world''s second top producer of cotton, stepped up pressure on sluggish exporters on Friday as the farm minister gave them more time to organise overseas sales and suggested export levels could rise. India, the world''s second-biggest producer,
Published 22 Jan, 2011 12:00am
Indian Army Court orders court martial of Lieutenant General Rath

Indian Army Court orders court martial of Lieutenant General Rath

Indian Army continues to be hit by corruption scams one after the other, as yet another General of the world's otherwise 2nd largest army was found guilty of corruption. Indian Army Court on Friday ordered the court martial of one of its most senior army
Published 22 Jan, 2011 12:00am
Indian Army Court orders court martial of Lieutenant General Rath

Indian Army Court orders court martial of Lieutenant General Rath

Indian Army continues to be hit by corruption scams one after the other, as yet another General of the world's otherwise 2nd largest army was found guilty of corruption. Indian Army Court on Friday ordered the court martial of one of its most senior army
Published 22 Jan, 2011 12:00am
Bangladesh suspends six share trading houses

Bangladesh suspends six share trading houses

Bangladesh has suspended six brokerage houses at its main stock exchange after another market plunge in less than two weeks saw thousands of angry investors clash with police and smash vehicles. Bangladesh's Securities and Exchange Commission slapped a mo
Published 22 Jan, 2011 12:00am
Bangladesh suspends six share trading houses

Bangladesh suspends six share trading houses

Bangladesh has suspended six brokerage houses at its main stock exchange after another market plunge in less than two weeks saw thousands of angry investors clash with police and smash vehicles. Bangladesh's Securities and Exchange Commission slapped a mo
Published 22 Jan, 2011 12:00am
Bangladesh suspends six share trading houses

Bangladesh suspends six share trading houses

Bangladesh has suspended six brokerage houses at its main stock exchange after another market plunge in less than two weeks saw thousands of angry investors clash with police and smash vehicles. Bangladesh''s Securities and Exchange Commission slapped a m
Published 22 Jan, 2011 12:00am
BP assets transfer strategy: UEG top team in Karachi

BP assets transfer strategy: UEG top team in Karachi

United Energy Group (UEG) top delegation is now in Karachi to finalise a strategy for transfer of British Petroleum's assets in Pakistan to it. It will present the future plan of action in its maiden meeting with Petroleum Minister, Syed Naveed Qamar and
Published 22 Jan, 2011 12:00am
BP assets transfer strategy: UEG top team in Karachi

BP assets transfer strategy: UEG top team in Karachi

United Energy Group (UEG) top delegation is now in Karachi to finalise a strategy for transfer of British Petroleum's assets in Pakistan to it. It will present the future plan of action in its maiden meeting with Petroleum Minister, Syed Naveed Qamar and
Published 22 Jan, 2011 12:00am
BP assets transfer strategy: UEG top team in Karachi

BP assets transfer strategy: UEG top team in Karachi

United Energy Group (UEG) top delegation is now in Karachi to finalise a strategy for transfer of British Petroleum''s assets in Pakistan to it. It will present the future plan of action in its maiden meeting with Petroleum Minister, Syed Naveed Qamar and
Published 22 Jan, 2011 12:00am
MOL suspends production operation at Maramzai

MOL suspends production operation at Maramzai

Management of MOL suspended exploration and production operation at Maramzai well after attack on convey in Kohat on security concerns. The company has expressed profound grief over the death of six persons including four FC guards, one contractor driver
Published 22 Jan, 2011 12:00am
MOL suspends production operation at Maramzai

MOL suspends production operation at Maramzai

Management of MOL suspended exploration and production operation at Maramzai well after attack on convey in Kohat on security concerns. The company has expressed profound grief over the death of six persons including four FC guards, one contractor driver
Published 22 Jan, 2011 12:00am
MOL suspends production operation at Maramzai

MOL suspends production operation at Maramzai

Management of MOL suspended exploration and production operation at Maramzai well after attack on convey in Kohat on security concerns. The company has expressed profound grief over the death of six persons including four FC guards, one contractor driver
Published 22 Jan, 2011 12:00am
Sales tax on branded bread - FBR initiates a new campaign

Sales tax on branded bread - FBR initiates a new campaign

The Federal Board of Revenue (FBR) has found a via media after failure to enact Reformed General Sales Tax (RGST) and withdraw exemption from sales tax on daily household items. Its subordinate officers have initiated a campaign to levy sales tax through
Published 22 Jan, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 22 Jan, 2011 12:00am
Sales tax on branded bread - FBR initiates a new campaign

Sales tax on branded bread - FBR initiates a new campaign

The Federal Board of Revenue (FBR) has found a via media after failure to enact Reformed General Sales Tax (RGST) and withdraw exemption from sales tax on daily household items. Its subordinate officers have initiated a campaign to levy sales tax through
Published 22 Jan, 2011 12:00am
Sales tax on branded bread - FBR initiates a new campaign

Sales tax on branded bread - FBR initiates a new campaign

The Federal Board of Revenue (FBR) has found a via media after failure to enact Reformed General Sales Tax (RGST) and withdraw exemption from sales tax on daily household items. Its subordinate officers have initiated a campaign to levy sales tax through
Published 22 Jan, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 22 Jan, 2011 12:00am
PPP leadership made country's defence impregnable: Khosa

PPP leadership made country's defence impregnable: Khosa

Punjab Governor Sardar Latif Khosa has said that the PPP leaders had made the defence of Pakistan impregnable. "Founder of the PPP Shaheed Zulfikar Ali Bhutto gave the country atomic technology while Shaheed Benazir Bhutto gave missile technology", he sai
Published 22 Jan, 2011 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 22 Jan, 2011 12:00am
SSGC repairs blown-up gas pipeline near Taghmani

SSGC repairs blown-up gas pipeline near Taghmani

The Sui Southern Gas Company's (SSGC) engineers and technical staff have completed repairing work of ruptured 18-inch diameter gas pipeline near Taghmani in a record period of time on Friday. Anayatullah Ismail, Media Manager SSGC told APP that after taki
Published 22 Jan, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 22 Jan, 2011 12:00am
Kayani visits Lankan Defence Services Command and Staff College

Kayani visits Lankan Defence Services Command and Staff College

The Chief of Army Staff (COAS), General Ashfaq Parvez Kayani, who is on an official visit to Sri Lanka visited Defence Services Command and Staff College on Friday. He addressed the students and also formally inaugurated the Quetta Association formed by S
Published 22 Jan, 2011 12:00am
Pir Naseer Urs begins today

Pir Naseer Urs begins today

The second annual Urs of spiritual leader Pir Naseer-ud-Din Naseer will commence at Darbar Ghausia Mehria Naseeria Golra Sharif from January 22 (Saturday). The caravans of devotees have reached from across the country to participate in two-day Urs celebra
Published 22 Jan, 2011 12:00am
AFP plant to be upgraded soon: Abbas

AFP plant to be upgraded soon: Abbas

Agro Food Processing (AFP) Plant would soon be upgraded to prepare concentrates from apple, tomato and guava in addition to their pulp, AFP chairman Ghulam Abbas said on Friday. "We are going to import the machinery to install at this plant and prepare co
Published 22 Jan, 2011 12:00am
Taxation policy for Gilgit-Baltistan in the offing

Taxation policy for Gilgit-Baltistan in the offing

The Gilgit-Baltistan Council has formed a committee for carving out a comprehensive and viable taxation policy. Member Gilgit-Baltistan Council, Amjad Hussain Advocate who is also the chairman of the select committee on Public Accounts told this correspon
Published 22 Jan, 2011 12:00am
Unlawful students' outfits not to be allowed to harm academic atmosphere

Unlawful students' outfits not to be allowed to harm academic atmosphere

Unlawful outfits of the students will not be allowed to sabotage the peaceful and congenial academic atmosphere of the Punjab University, said Vice Chancellor, Professor Dr Mujahid Kamran here on Friday. Talking to APP, he criticised the misconduct of han
Published 22 Jan, 2011 12:00am
PCO case: 'judges not only accept November 3 order, also respect it'

PCO case: 'judges not only accept November 3 order, also respect it'

Dr Abdul Basit, a counsel for two Lahore High Court PCO judges - Justice Hasnat Malik Ahmed and Justice Shabbar Raza Rizvi - on Friday argued before the apex court that his clients not only accepted November 3, 2007 interim order but also respect it.
Published 22 Jan, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Friday (January 21, 2011).

Published 22 Jan, 2011 12:00am
MPs laud second phase of Parliament Lodges

MPs laud second phase of Parliament Lodges

Parliamentarians of different political parties commenting on the launching of second phase of the Parliament Lodges here on Friday said this initiative will reduce their accommodation problems. At present the Parliament Lodges do not have the capacity to
Published 22 Jan, 2011 12:00am
Pakistani students: Hamilton college announces stipends for 2011-12

Pakistani students: Hamilton college announces stipends for 2011-12

A.A. Hamilton College London on Friday announced scholarships for Pakistani students for 2011-12. Director Administration of the college Mike Stanley made this announcement during a seminar titled "Free Education" held here. The college administration hel
Published 22 Jan, 2011 12:00am
Flood victims: government taking steps for early rehabilitation

Flood victims: government taking steps for early rehabilitation

The Director General Relief, Khalid Sher Dil Friday said that Pakistan government is striving hard and employing all available sources for early rehabilitation of flood affectees. While distributing cheques worth Rs 1,550,000 among the members of CCB at D
Published 22 Jan, 2011 12:00am
ETP Deputy Administrator Peshawar suspension directed

ETP Deputy Administrator Peshawar suspension directed

The Senate Standing Committee on Rules of Procedures and Privileges on Friday directed the Ministry of Minorities Affairs to immediately suspend the Deputy Administrator of Evacuee Trust Property (ETP), Peshawar for his alleged misbehaviour with a senator
Published 22 Jan, 2011 12:00am
US MIDDAY: gold stays down

US MIDDAY: gold stays down

Gold prices fell for a second day early on Friday as a stronger appetite for riskier assets such as equities and an improving economic outlook diminished safe-haven buying, more than offsetting a weaker dollar. Bullion notched a third consecutive weekly l
Published 22 Jan, 2011 12:00am
US MIDDAY: copper rises

US MIDDAY: copper rises

Copper bounced nearly one percent on Friday, snapping a two-day slide that dragged prices to their lowest level in a month, as the dollar weakened and on worries about more monetary tightening in top-consumer China abated. Copper prices - down as much as
Published 22 Jan, 2011 12:00am
THE RUPEE: dollar moves up

THE RUPEE: dollar moves up

Bearish trend was seen on the currency market on Friday as dollar maintained its surge versus the rupee in process of trading, dealers said. The rupee was down by eight paisa against dollar for buying at 86.87 and fell by 10 paisa for selling at 85.92, th
Published 22 Jan, 2011 12:00am
US MIDDAY: grains up

US MIDDAY: grains up

Chicago Board of Trade grain futures were higher on Friday, with gains in wheat and corn fuelled by strong weekly US export data and a weaker US dollar, traders said. Informa Economics' acreage estimates, released late morning, also were viewed as bullish
Published 22 Jan, 2011 12:00am
THE RUPEE: dollar moves up

THE RUPEE: dollar moves up

Bearish trend was seen on the currency market on Friday as dollar maintained its surge versus the rupee in process of trading, dealers said. The rupee was down by eight paisa against dollar for buying at 86.87 and fell by 10 paisa for selling at 85.92, th
Published 22 Jan, 2011 12:00am
US MIDDAY: cocoa climbs

US MIDDAY: cocoa climbs

ICE cocoa futures climbed to an 8-1/2-month high ealy on Friday in heavy volume after talks failed to resolve a political standoff in Ivory Coast, deepening worries about possible supply disruptions from the world's top producer. A soft dollar boosted cof
Published 22 Jan, 2011 12:00am
Gold hits two-month low in European trade

Gold hits two-month low in European trade

Gold touched a two-month low in Europe on Friday, pressured by a firmer appetite for assets seen as higher risk on expectations the economic recovery is gaining traction, but a retreat in the dollar prevented a steeper drop. The metal is heading for a thi
Published 22 Jan, 2011 12:00am
Gold edges up in Asia

Gold edges up in Asia

Spot gold edged up on Friday, recovering from a decline of two percent in the previous session, propped up by physical buying interest, but ebbing investment demand on an improved economic outlook continued to weigh on prices. Holdings in the SPDR Gold Tr
Published 22 Jan, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (January 21, 2011).

Published 22 Jan, 2011 12:00am
US gold down two percent

US gold down two percent

US gold futures ended nearly 2 percent lower to two-month lows on Thursday due to technical selling and as worries over further monetary tightening in China triggered a commodities rout. COMEX February gold futures settled down $23.7 or 1.7 percent at $1,
Published 22 Jan, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (January 21, 2011).

Published 22 Jan, 2011 12:00am
Liffe cocoa at 5-1/2-month high

Liffe cocoa at 5-1/2-month high

Liffe May cocoa ended 12 pounds higher at 2,114 pounds a tonne on Friday, its highest close since August 9, pushed higher by system funds buying and uncertainty over the supply pipeline from Ivory Coast, the world's top producer. Liffe March robusta coffe
Published 22 Jan, 2011 12:00am
Malaysian palm oil rises

Malaysian palm oil rises

Malaysian palm oil futures rose to a near two-week high on Friday, as traders cited strong export data amid concern that supplies will struggle to keep pace with robust demand. The market was on course to post its first weekly gain for the year as traders
Published 22 Jan, 2011 12:00am
US soyabeans end higher

US soyabeans end higher

Chicago Board of Trade soyabean futures closed higher on Thursday, returning to positive territory on leadership from corn, traders said. Earlier, concerns that stronger growth might force China to raise lending rates to control inflation also weighed on
Published 22 Jan, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Friday (January 21, 2011) and for Saturday (January 22, 2011).
Published 22 Jan, 2011 12:00am
New York cocoa rises to 8-1/2-month peak

New York cocoa rises to 8-1/2-month peak

Cocoa futures sprang to an 8-1/2-month high on Thursday as fears of civil war disrupting supplies in top grower Ivory Coast ratcheted up due to failed mediation talks in the African country. A fire in a Dutch cocoa factory exacerbated supply worries as ma
Published 22 Jan, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (January 21, 2011).

Published 22 Jan, 2011 12:00am
Tokyo, Shanghai rubber futures hit records

Tokyo, Shanghai rubber futures hit records

Key Tokyo and Shanghai rubber futures hit record highs on Friday as speculators continued to bet on further market upside due to strong demand and supply tightness. The key Tokyo Commodity Exchange rubber contract for June delivery settled at 477.6 yen, u
Published 22 Jan, 2011 12:00am
Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates

Non ferrous metals, ferrous alloy rates in rupees prevailing on the commodity markets in Karachi on Friday (January 21, 2011).

Published 22 Jan, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on January 18, 2011.

Published 22 Jan, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on January 18, 2011.

Published 22 Jan, 2011 12:00am
Brent rises above $97

Brent rises above $97

ICE Brent crude futures rose above $97 a barrel on Friday on lift from rising German and French business sentiment which boosted the euro to a two-month peak against the dollar while US oil ended a choppy session lower, stalling just above $89.
Published 22 Jan, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on January 18, 2011.

Published 22 Jan, 2011 12:00am
Copper climbs

Copper climbs

Copper climbed on Friday after the dollar fell and concerns abated that monetary tightening in top consumer China could heavily hamper demand. Three-month copper on the London Metals Exchange, recovering after falling more than 2 percent the day before, c
Published 22 Jan, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 22 Jan, 2011 12:00am
Shanghai copper down

Shanghai copper down

London copper prices rose on Friday, after shedding 2.3 percent in the previous session on concerns that China may tighten monetary policy in the wake of strong macroeconomic data, while Shanghai fell, catching up with the previous decline in the internat
Published 22 Jan, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 22 Jan, 2011 12:00am
US MIDDAY: US copper crumbles

US MIDDAY: US copper crumbles

Copper collapsed on Thursday in its biggest one-day loss since mid-November as a stronger dollar added to early pressure from fears of monetary tightening in China, the world's biggest consumer of the metal. COMEX copper for March delivery sank 9.80 cents
Published 22 Jan, 2011 12:00am
New York cotton up daily limit

New York cotton up daily limit

US cotton futures rallied the 4-cent daily limit on Friday on fund and speculative buying sparked by an overnight surge in Chinese cotton values, analysts said. The key March cotton contract on ICE Futures US rose the 4-cent limit to trade at $1.5694 per
Published 22 Jan, 2011 12:00am
SECP revises investment policy for pension funds

SECP revises investment policy for pension funds

The Security and Exchange Commission of Pakistan (SECP) has revised the investment limits for pension funds under the Voluntary Pension System. A statement issued by the Commission here on Friday said that investment limits were revised in view of re-comp
Published 22 Jan, 2011 12:00am
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