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Archive - 2011-02-02
US hampering Egypt uprising: Iran
Asia

US hampering Egypt uprising: Iran

TEHRAN: Iran accused arch-foe the United States of hampering the uprising in Egypt and warned that the tactics used by U
Published 02 Feb, 2011 06:16pm
S&P downgrades Ireland's debt ratings
Top News

S&P downgrades Ireland's debt ratings

LONDON: Standard & Poor's on Wednesday downgraded its short- and long-term debt ratings for Ireland by one notch, citing
Published 02 Feb, 2011 01:34pm
Economic recovery lifts world stocks
Top News

Economic recovery lifts world stocks

  LONDON: World stocks punched fresh 29-month highs on Wednesday, lifted by strong data pointing to sustained glob
Published 02 Feb, 2011 12:30pm
IMF has changed, chief tells Asia
Top News

IMF has changed, chief tells Asia

JAKARTA: The IMF said Wednesday it had learnt from its mistakes during the 1997-1998 Asian financial crisis and had unde
Published 02 Feb, 2011 09:26am
Gunmen kill five policemen in Quetta
Top News

Gunmen kill five policemen in Quetta

QUETTA: Gunmen shot dead five police and abducted six other people, including a top administrator, in the volatile south
Published 02 Feb, 2011 07:38am
Petrol politics - episode III
BR Research

Petrol politics - episode III

A leader of a large political party that still happens to be in the government coalition lauded its members for not letting the government i
Published 02 Feb, 2011 12:00am
Davos: Shooting long range
BR Research

Davos: Shooting long range

World leaders gathered, as they have for 41 years now, in Davos for the annual meeting of the World Economic Forum recently. Careful in maki
Published 02 Feb, 2011 12:00am
Euribor rates at 19-month high

Euribor rates at 19-month high

A massive take-up by banks of European Central Bank funds on Tuesday is set to halt the rise in short-term money market rates in coming days but a sustained reversal in the uptrend is unlikely given rate hike expectations. Banks took up 213.7 billion euro
Published 02 Feb, 2011 12:00am
Singapore dollar, won rise

Singapore dollar, won rise

The South Korean won and Singaporean dollar strengthened on Tuesday as their central banks are expected to tighten policy to fight inflation, while the Indonesian rupiah lagged gains on worries that its policymakers aren't acting fast enough to curb price
Published 02 Feb, 2011 12:00am
Indian rupee up

Indian rupee up

The rupee ended up on Tuesday, snapping a two-day fall, buoyed by a recovery in the euro against the dollar and mild dollar inflows, even as losses in domestic shares weighed on sentiment. The partially convertible rupee ended at 45.7550/7650 per dollar,
Published 02 Feb, 2011 12:00am
Australian dollar tops parity

Australian dollar tops parity

The Australian dollar climbed past parity on Tuesday as optimism on global growth lifted commodity prices, a trend highlighted by the country's central bank as it played down the impact of floods on the domestic economy. The Australian dollar bounced abov
Published 02 Feb, 2011 12:00am
Swiss franc rises versus dollar

Swiss franc rises versus dollar

The Swiss franc tracked the euro up against the dollar on Tuesday, with political upheaval in Egypt keeping Brent crude above $100 and the eurozone's inflation outlook raising expectations of an rate hike there. The Swiss franc, meanwhile, has been suppor
Published 02 Feb, 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 Tuesday. 71.15/71.15 (previous 71.15/71.15) Call Money Rates: 4.25-5.75 percent (previous 3.75-6.25 percent).
Published 02 Feb, 2011 12:00am
Euro soars versus dollar in New York

Euro soars versus dollar in New York

The euro headed for its second consecutive monthly advance against the dollar on Monday and more gains could be in store after a jump in eurozone inflation bolstered the view interest rates in the region could rise more quickly than in the United States.
Published 02 Feb, 2011 12:00am
Tuesday's midday trade: Euro highest since mid-November

Tuesday's midday trade: Euro highest since mid-November

The euro rallied to a 2-1/2 month high versus the US dollar on Tuesday after solid manufacturing data Worldwide though analysts said risk appetite could fade given concern over the euro zone's debt problems. The euro briefly climbed above $1.38 after taki
Published 02 Feb, 2011 12:00am
Euro rallies versus dollar in London

Euro rallies versus dollar in London

The euro rallied to its highest against the dollar in more than two months on Tuesday, boosted by signs that increasing inflation pressures will prompt a much faster rise in eurozone than US interest rates. The Australian dollar also hit a four-week high
Published 02 Feb, 2011 12:00am
Euro nears two-month high in Asia

Euro nears two-month high in Asia

The euro crept back near a two-month high on Tuesday after a jump in eurozone inflation fuelled expectations of a rate hike and as worries about unrest in Egypt abated slightly. Analysts said the euro could add to its gains in the near-term, especially if
Published 02 Feb, 2011 12:00am
Sterling hits 11-week high

Sterling hits 11-week high

Sterling hit its highest level in 11 weeks against the dollar on Tuesday after strong UK manufacturing data boosted speculation the Bank of England may need to raise interest rates in the near future. Data showed a manufacturing purchasing managers' index
Published 02 Feb, 2011 12:00am
Yuan rises

Yuan rises

China's yuan ended up against the dollar on Tuesday but moved below the central bank's record high daily fixing as trading thinned ahead of the week-long Lunar New Year holiday that begins on Wednesday, traders said. Despite sluggish trade, the People's B
Published 02 Feb, 2011 12:00am
Commodities and banks lift FTSE

Commodities and banks lift FTSE

Commodity stocks and banks helped drive Britain's top share index to a higher close on Tuesday, as investors shifted their focus from political unrest in Egypt to upbeat US economic data. The FTSE 100 index closed up 94.88 points, or 1.6 percent, at 5,957
Published 02 Feb, 2011 12:00am
Gulf markets catch breath but UAE seen weaker

Gulf markets catch breath but UAE seen weaker

Gulf Arab markets were steady on Tuesday as selling pressure sparked by Egypt's political turmoil waned, but traders said this respite may be short-lived, offering a downbeat outlook, especially for UAE stocks. Regional benchmarks have tumbled this week f
Published 02 Feb, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul shares staged a mild recovery in thin trade on Tuesday as investors remained cautious on the global economic outlook ahead of the Lunar New Year Holidays. "Besides the long holidays ahead, growing concerns over uncertainties in the global economy we
Published 02 Feb, 2011 12:00am
European shares rise

European shares rise

European shares made their biggest gain in three weeks on Tuesday, buoyed by strong manufacturing data from both the eurozone and the United States, while oil shares also got a boost from rising crude prices. The pan-European FTSEurofirst 300 index rose 1
Published 02 Feb, 2011 12:00am
Hong Kong, China shares edge up

Hong Kong, China shares edge up

Chinese shares edged up on Tuesday, with market players expecting inflation to remain a near-term concern but seeing attractive valuations lifting the market after the Lunar New Year holiday. Volume in Shanghai and Hong Kong remained light with investors
Published 02 Feb, 2011 12:00am
Indian shares drop to five-month low

Indian shares drop to five-month low

India's main stock index fell 1.7 percent on Tuesday to its lowest close since August, extending January's worst monthly slide in more than two years, as inflation worries and hardening interest rates continued to spook investors. Traders said rising worl
Published 02 Feb, 2011 12:00am
Treasuries decline

Treasuries decline

US Treasuries fell on Monday as upbeat economic data and gains on Wall Street reduced bonds' safe-haven allure and overshadowed anxiety over the political unrest in Egypt. The day's losses will pare Treasuries' modest gain recorded so far in January. Grow
Published 02 Feb, 2011 12:00am
Treasuries decline

Treasuries decline

US Treasuries fell on Monday as upbeat economic data and gains on Wall Street reduced bonds' safe-haven allure and overshadowed anxiety over the political unrest in Egypt. The day's losses will pare Treasuries' modest gain recorded so far in January. Grow
Published 02 Feb, 2011 12:00am
Australian shares flat

Australian shares flat

Australian stocks gave up early gains to close slightly weaker on Tuesday after a cyclone threatening Queensland state hit some insurers, but miners and energy stocks were underpinned by higher commodity prices. The market also held steady after Australia
Published 02 Feb, 2011 12:00am
US stocks rise

US stocks rise

US stocks rose on Monday on strong earnings and signs of a strengthening economy, even as a surge in the price of oil highlighted the potential for increased political risk in the Middle East to upset markets. Egyptian Vice President Omar Suleiman said on
Published 02 Feb, 2011 12:00am
Dow closes over 12,000

Dow closes over 12,000

US stocks rose on Tuesday as investors shifted focus to strong earnings and manufacturing data and less on the turmoil in the Middle East. The S&P and the Nasdaq rose more than 1 percent after data showed the US manufacturing sector expanded at its fastes
Published 02 Feb, 2011 12:00am
Dow closes over 12,000

Dow closes over 12,000

US stocks rose on Tuesday as investors shifted focus to strong earnings and manufacturing data and less on the turmoil in the Middle East. The S&P and the Nasdaq rose more than 1 percent after data showed the US manufacturing sector expanded at its fastes
Published 02 Feb, 2011 12:00am
Dow closes over 12,000

Dow closes over 12,000

US stocks rose on Tuesday as investors shifted focus to strong earnings and manufacturing data and less on the turmoil in the Middle East. The S&P and the Nasdaq rose more than 1 percent after data showed the US manufacturing sector expanded at its fastes
Published 02 Feb, 2011 12:00am
Nikkei average rises

Nikkei average rises

Japan's Nikkei average edged off a one-month closing low on Tuesday, with oil-related shares up on unrest in Egypt and companies with upbeat earnings such as Honda Motor Co finding favour. Gains were limited amid fears that China may embark on further tig
Published 02 Feb, 2011 12:00am
South East Asian markets: Indonesia snaps two-day fall

South East Asian markets: Indonesia snaps two-day fall

Indonesian stocks climbed almost 1 percent on Tuesday, outperforming others in the region amid good demand for energy shares because of high global oil prices, but bank stocks fared badly as rising inflation hit sentiment.
Published 02 Feb, 2011 12:00am
EU states back five-year tax on Chinese fibreglass

EU states back five-year tax on Chinese fibreglass

Chinese-made fibreglass used to produce wind turbines and lightweight cars in the European Union faces punitive import duties following a vote by trade officials from member states, diplomatic and industry sources said. A majority of representatives from
Published 02 Feb, 2011 12:00am
Taiwan economic growth at 23-year high in 2010

Taiwan economic growth at 23-year high in 2010

Taiwan's economy grew a blistering 10.47 percent in 2010, its fastest rate in 23 years, according to a government estimate, with analysts saying trade with former rival China was a key driver of the surge. Improving ties between China and Taiwan has provi
Published 02 Feb, 2011 12:00am
Top EU regulator demands stricter bank stress tests

Top EU regulator demands stricter bank stress tests

A top EU regulator called for tougher stress-testing of the region's banks as countries remained locked in dispute on how strict the checks should be. "I am very much aware this year we will need to do a much stronger and reliable and credible exercise,"
Published 02 Feb, 2011 12:00am
EU parliament stalls nominations of financial regulators

EU parliament stalls nominations of financial regulators

The European Parliament postponed Tuesday the nominations of chairmen for three new pan-European financial watchdogs created to prevent crises, demanding guarantees they will be strong, independent institutions. Euro MPs flexed their muscle by putting off
Published 02 Feb, 2011 12:00am
No oil supply crisis over Egypt: IEA

No oil supply crisis over Egypt: IEA

The global oil market does not face any emergency, the head of the International Energy Agency said on Tuesday, after crude breached $100 per barrel on unrest in Egypt. "It is not an emergency now," Nobuo Tanaka told Reuters.
Published 02 Feb, 2011 12:00am
India's exports jump 36.4 percent in December

India's exports jump 36.4 percent in December

India's exports soared 36.4 percent in December, official data showed Tuesday, raising the chances of the country surpassing its overseas sales target for the current fiscal year. Merchandise exports climbed to $22.5 billion in December, up from $16.4 bil
Published 02 Feb, 2011 12:00am
US manufacturing powers ahead in January

US manufacturing powers ahead in January

The US manufacturing sector grew at its fastest pace in nearly seven years in January, and signs of inflation jumped more than expected in the latest sign the economic recovery is gaining traction.
Published 02 Feb, 2011 12:00am
Citigroup snatches EMI from Guy Hands

Citigroup snatches EMI from Guy Hands

US bank Citigroup took control of troubled music company EMI from private equity owner Guy Hands on Tuesday, bringing an end to a long ownership battle and teeing up the firm behind Coldplay and The Beatles for its next possible sale. Hands, one of the mo
Published 02 Feb, 2011 12:00am
Eurozone manufacturing posts sharp inflationary pressures

Eurozone manufacturing posts sharp inflationary pressures

A key indicator of eurozone manufacturing health on Tuesday posted a record rise in raw materials costs with goods prices also rising at the fastest pace since the economic crisis began. The final eurozone manufacturing purchasing managers' index produced
Published 02 Feb, 2011 12:00am
IMF says ready to help Egypt, others in trouble

IMF says ready to help Egypt, others in trouble

The IMF Tuesday said it was ready to help riot-torn Egypt and other nations stricken by chronic unemployment, but told governments to tackle economic strains or risk instability and even "war". International Monetary Fund chief Dominique Strauss-Kahn also
Published 02 Feb, 2011 12:00am
GM's US auto sales up 22 percent in January

GM's US auto sales up 22 percent in January

General Motors, the biggest US automaker, said Tuesday sales in the United States roared higher in January, driven by sharply stronger demand for its cars and trucks. GM reported 178,896 total sales in January in the US market, up 22 percent from a year a
Published 02 Feb, 2011 12:00am
Mubarak says will not run for presidency again

Mubarak says will not run for presidency again

Egyptian President Hosni Mubarak said on Tuesday he would not leave Egypt although he would step down from the presidency at the end of his term, due to end when the country holds a presidential election in September. "The Hosni Mubarak who speaks to you
Published 02 Feb, 2011 12:00am
BP logs first annual loss since 1992 on oil spill disaster

BP logs first annual loss since 1992 on oil spill disaster

Crisis-hit BP reported its first annual loss in almost two decades on Tuesday, as a result of the Gulf of Mexico oil spill disaster, and outlined plans to shift its focus away from the United States. BP suffered a loss of $4.9 billion (3.6 billion euros)
Published 02 Feb, 2011 12:00am
Mubarak says will not run for presidency again

Mubarak says will not run for presidency again

Egyptian President Hosni Mubarak said on Tuesday he would not leave Egypt although he would step down from the presidency at the end of his term, due to end when the country holds a presidential election in September. "The Hosni Mubarak who speaks to you
Published 02 Feb, 2011 12:00am
BP's Rosneft deal blocked

BP's Rosneft deal blocked

Doubts returned over BP's prospects for a return to growth on Tuesday as a UK court blocked its plans for a tie-up with Russia's Rosneft and the British oil company delivered below forecast profit. BP's oligarch partners in Russia's TNK-BP have won an inj
Published 02 Feb, 2011 12:00am
Jordan king names new prime minister

Jordan king names new prime minister

King Abdullah II of Jordan named Maruf Bakhit as prime minister on Tuesday with orders to carry out "true political reforms," the palace said, after weeks of opposition protests demanding change. "King Abdullah II designated Maruf Bakhit to form a new gov
Published 02 Feb, 2011 12:00am
Record factory costs heighten UK inflation woes

Record factory costs heighten UK inflation woes

British manufacturing activity grew at a record pace in January and price pressures also picked up, re-igniting speculation the Bank of England may have to raise interest rates sooner rather than later to tame inflation. Earlier on Tuesday, a leading thin
Published 02 Feb, 2011 12:00am
Jordan king names new prime minister

Jordan king names new prime minister

King Abdullah II of Jordan named Maruf Bakhit as prime minister on Tuesday with orders to carry out "true political reforms," the palace said, after weeks of opposition protests demanding change. "King Abdullah II designated Maruf Bakhit to form a new gov
Published 02 Feb, 2011 12:00am
China PMI foreshadows slower growth, sticky inflation

China PMI foreshadows slower growth, sticky inflation

China's factories slowed a touch in January under the weight of monetary tightening, but input prices rose quickly, keeping the pressure on the government to tackle inflation despite easing growth. The official purchasing managers' index fell to a five-mo
Published 02 Feb, 2011 12:00am
Carmakers start 2011 strongly

Carmakers start 2011 strongly

Carmakers are making a strong start to 2011, soothing concerns about slower demand growth in Asia and a bumpy recovery in western markets. South Korea's Hyundai Motor, the world No 5 player, said global sales rose 14 percent in January. Indian vehicle man
Published 02 Feb, 2011 12:00am
Ivory Coast bond dives on payment default

Ivory Coast bond dives on payment default

The price of Ivory Coast's $2.3 billion bond due 2032 dived to a record low on Tuesday after investors said the West African country had defaulted by missing a January 31 coupon payment deadline. The world's top cocoa grower, gripped by a post-election po
Published 02 Feb, 2011 12:00am
Ivory Coast bond dives on payment default

Ivory Coast bond dives on payment default

The price of Ivory Coast's $2.3 billion bond due 2032 dived to a record low on Tuesday after investors said the West African country had defaulted by missing a January 31 coupon payment deadline. The world's top cocoa grower, gripped by a post-election po
Published 02 Feb, 2011 12:00am
India's January gold imports rise to 40 tons

India's January gold imports rise to 40 tons

Gold imports in India, the world's largest consumer of the yellow metal, rose 18 percent in January to 40 tonnes provisionally, and next month's wedding season could further boost demand, head of a trade body said on Tuesday. Imports were higher than a Re
Published 02 Feb, 2011 12:00am
Trading activity improved on cotton market despite prices moving upward

Trading activity improved on cotton market despite prices moving upward

Improved activity was seen on the cotton market on Tuesday as mills and spinners showed interest in fresh buying due to continued rise in the international market, dealers said. The Karachi Cotton Association (KCA) spot rate was unchanged Rs 10,800, they
Published 02 Feb, 2011 12:00am
Oil cake market rates

Oil cake market rates

No major changes were seen on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The March vaida that had showed no change at closer at Rs 1237.10 opened with no change. The May contract which closed at Rs 1319.30 also s
Published 02 Feb, 2011 12:00am
'Deemed duty' on HSD to be eliminated gradually: oil refineries informed

'Deemed duty' on HSD to be eliminated gradually: oil refineries informed

The Ministry of Petroleum has informed the oil refineries that 7.5 percent deemed duty on high speed diesel (HSD) will be gradually eliminated which the latter have strongly opposed, Business Recorder has learnt. Judicial Commission pointed out that the o
Published 02 Feb, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 120,851 tonnes of cargo including 56,485 tonnes of import cargo, 64,366 tonnes of export cargo, 5,036 loaded and empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 56,485 tonnes compris
Published 02 Feb, 2011 12:00am
'Deemed duty' on HSD to be eliminated gradually: oil refineries informed

'Deemed duty' on HSD to be eliminated gradually: oil refineries informed

The Ministry of Petroleum has informed the oil refineries that 7.5 percent deemed duty on high speed diesel (HSD) will be gradually eliminated which the latter have strongly opposed, Business Recorder has learnt. Judicial Commission pointed out that the o
Published 02 Feb, 2011 12:00am
US wheat futures recover

US wheat futures recover

US wheat futures rebounded 1.2 percent on Monday after a drop of more than 2 percent on Friday as traders bet that top importer Egypt would buy more wheat to quell civil unrest. Wheat prices slid on Friday as riots in Egypt prompted concerns about physica
Published 02 Feb, 2011 12:00am
Rains boosted Argentina's soya crops

Rains boosted Argentina's soya crops

A second week of rains boosted soya crops in Argentina's top growing region and should help late-planted corn to recover from weeks of dryness, the government said on Monday. Argentina is the world's No 3 exporter of soyabeans and the top supplier of soya
Published 02 Feb, 2011 12:00am
Delay risk seen along with Vietnam coffee price rise

Delay risk seen along with Vietnam coffee price rise

Vietnam coffee may face delays or even defaults as rising prices make it difficult to secure the required volumes in the domestic market for shipment, traders said on Tuesday. Indicative prices of robusta coffee in Vietnam rose to 39.5-39.6 million dong (
Published 02 Feb, 2011 12:00am
Gram's prices up despite improved supply position on grain market

Gram's prices up despite improved supply position on grain market

Grams prices were higher on the wholesales grain and seed market on Tuesday after slight improvement in supply position, dealers said. On the cereal side masoor Canada was higher by Rs 200 to Rs 7000 and masoor dal, however, lost Rs 300 to Rs 8200. Urad B
Published 02 Feb, 2011 12:00am
Wheat export premiums steady

Wheat export premiums steady

US wheat export premiums at the US Gulf Coast were about steady on Monday, with values underpinned by good demand prospects from buyers in North Africa and the Middle East, traders said. Some US wheat shipments to top importer Egypt were at risk of gettin
Published 02 Feb, 2011 12:00am
New York cotton

New York cotton

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

Published 02 Feb, 2011 12:00am
New York cotton

New York cotton

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

Published 02 Feb, 2011 12:00am
Put Davis on ECL: LHC

Put Davis on ECL: LHC

The Lahore High Court Chief Justice here on Tuesday directed to put the name of an American national double murder accused Raymond Davis on Exit Control List (ECL) and sought report till February 17 from ministry of foreign affairs. The court observed tha
Published 02 Feb, 2011 12:00am
Put Davis on ECL: LHC

Put Davis on ECL: LHC

The Lahore High Court Chief Justice here on Tuesday directed to put the name of an American national double murder accused Raymond Davis on Exit Control List (ECL) and sought report till February 17 from ministry of foreign affairs. The court observed tha
Published 02 Feb, 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 02 Feb, 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 02 Feb, 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 Tuesday (February 01, 2011).

Published 02 Feb, 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 Tuesday (February 01, 2011).

Published 02 Feb, 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 Tuesday (February 01, 2011).

Published 02 Feb, 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 Tuesday (February 01, 2011).

Published 02 Feb, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (February 01, 2011).
Published 02 Feb, 2011 12:00am
Fund fails to persuade PML-N on RGST

Fund fails to persuade PML-N on RGST

The Inter-national Monetary Fund (IMF) has not been able to successfully persuade Pakistan Muslim League (N) to vote for 'Reformed' General Sales Tax Bill 2010 approval from the Parliament, it was learnt.
Published 02 Feb, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (February 01, 2011).

Published 02 Feb, 2011 12:00am
Fund fails to persuade PML-N on RGST

Fund fails to persuade PML-N on RGST

The International Monetary Fund (IMF) has not been able to successfully persuade Pakistan Muslim League (N) to vote for 'Reformed' General Sales Tax Bill 2010 approval from the Parliament, it was learnt.
Published 02 Feb, 2011 12:00am
Fund fails to persuade PML-N on RGST

Fund fails to persuade PML-N on RGST

The Inter-national Monetary Fund (IMF) has not been able to successfully persuade Pakistan Muslim League (N) to vote for ''Reformed'' General Sales Tax Bill 2010 approval from the Parliament, it was learnt.
Published 02 Feb, 2011 12:00am
ADB seeks IMF's LoC

ADB seeks IMF's LoC

The Asian Development Bank (ADB) has requested the government of Pakistan for a letter of comfort (LoC), to be issued by the IMF twice in the past two years. An LoC is an endorsement by the Fund that the government is adhering to the reform agenda as agre
Published 02 Feb, 2011 12:00am
ADB seeks IMF's LoC

ADB seeks IMF's LoC

The Asian Development Bank (ADB) has requested the government of Pakistan for a letter of comfort (LoC), to be issued by the IMF twice in the past two years. An LoC is an endorsement by the Fund that the government is adhering to the reform agenda as agre
Published 02 Feb, 2011 12:00am
ADB seeks IMF''s LoC

ADB seeks IMF''s LoC

The Asian Development Bank (ADB) has requested the government of Pakistan for a letter of comfort (LoC), to be issued by the IMF twice in the past two years. An LoC is an endorsement by the Fund that the government is adhering to the reform agenda as agre
Published 02 Feb, 2011 12:00am
Pakistan needs to reprioritise its fiscal front: ADB study

Pakistan needs to reprioritise its fiscal front: ADB study

Pakistan needs to reprioritise its fiscal front after recent floods in order to expand its fiscal space for reconstruction, a recent study of the Asian Development Bank (ADB) states. According to the study, 'Asian Development Outlook 2010 Update: the Futu
Published 02 Feb, 2011 12:00am
Pakistan needs to reprioritise its fiscal front: ADB study

Pakistan needs to reprioritise its fiscal front: ADB study

Pakistan needs to reprioritise its fiscal front after recent floods in order to expand its fiscal space for reconstruction, a recent study of the Asian Development Bank (ADB) states. According to the study, 'Asian Development Outlook 2010 Update: the Futu
Published 02 Feb, 2011 12:00am
Pakistan needs to reprioritise its fiscal front: ADB study

Pakistan needs to reprioritise its fiscal front: ADB study

Pakistan needs to reprioritise its fiscal front after recent floods in order to expand its fiscal space for reconstruction, a recent study of the Asian Development Bank (ADB) states. According to the study, ''Asian Development Outlook 2010 Update: the Fut
Published 02 Feb, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (February 01, 2011).

Published 02 Feb, 2011 12:00am
Index loses 85.98 points

Index loses 85.98 points

Bearish trend continued at the share market on Tuesday and the KSE-100 index lost 85.98 points to close at 12,273.38 points. The market opened on a positive note and the index hit 12,420.40 points intra-day high, up 61.04 points. However, this trend could
Published 02 Feb, 2011 12:00am
Index loses 85.98 points

Index loses 85.98 points

Bearish trend continued at the share market on Tuesday and the KSE-100 index lost 85.98 points to close at 12,273.38 points. The market opened on a positive note and the index hit 12,420.40 points intra-day high, up 61.04 points. However, this trend could
Published 02 Feb, 2011 12:00am
Index loses 85.98 points

Index loses 85.98 points

Bearish trend continued at the share market on Tuesday and the KSE-100 index lost 85.98 points to close at 12,273.38 points. The market opened on a positive note and the index hit 12,420.40 points intra-day high, up 61.04 points. However, this trend could
Published 02 Feb, 2011 12:00am
BRIndex30 sheds 93.69 points

BRIndex30 sheds 93.69 points

On Tuesday, the BRIndex30 opened at 9,065.35 points. It touched the intra-day high of 9,134.82 points and low of 8,913.71 points, and closed at 8,971.66 points, with a net negative change of -93.69 points, or -1.03 percent. The volume was 95,738,138 share
Published 02 Feb, 2011 12:00am
BRIndex30 sheds 93.69 points

BRIndex30 sheds 93.69 points

On Tuesday, the BRIndex30 opened at 9,065.35 points. It touched the intra-day high of 9,134.82 points and low of 8,913.71 points, and closed at 8,971.66 points, with a net negative change of -93.69 points, or -1.03 percent. The volume was 95,738,138 share
Published 02 Feb, 2011 12:00am
SSGCL restrained from terminating agreement with JJVL

SSGCL restrained from terminating agreement with JJVL

Sindh High Court restrained the Sui Southern Gas Company Limited (SSGCL) from terminating its implementation agreement with Jamshoro Joint Venture Limited (JJVL) on Tuesday. Justice Amir Hani Muslim of Sindh High Court while issuing notices to SSGCL and t
Published 02 Feb, 2011 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Tuesday (February 01, 2011).

Published 02 Feb, 2011 12:00am
SSGCL restrained from terminating agreement with JJVL

SSGCL restrained from terminating agreement with JJVL

Sindh High Court restrained the Sui Southern Gas Company Limited (SSGCL) from terminating its implementation agreement with Jamshoro Joint Venture Limited (JJVL) on Tuesday. Justice Amir Hani Muslim of Sindh High Court while issuing notices to SSGCL and t
Published 02 Feb, 2011 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Tuesday (February 01, 2011).

Published 02 Feb, 2011 12:00am
SSGCL restrained from terminating agreement with JJVL

SSGCL restrained from terminating agreement with JJVL

Sindh High Court restrained the Sui Southern Gas Company Limited (SSGCL) from terminating its implementation agreement with Jamshoro Joint Venture Limited (JJVL) on Tuesday. Justice Amir Hani Muslim of Sindh High Court while issuing notices to SSGCL and t
Published 02 Feb, 2011 12:00am
NJLI MEESEQ Fund Rates

NJLI MEESEQ Fund Rates

NJLI Meeseq Fund Rates on Tuesday (February 01, 2011).

Published 02 Feb, 2011 12:00am
SLICP secures Rs 9.33 billion as premium last year

SLICP secures Rs 9.33 billion as premium last year

The State Life Insurance Corporation of Pakistan (SLICP) has successfully secured Rs 9.33 billion as first year premium (New Business) during the period January 2010 to December 31, 2010 by showing an unprecedented increase of 35 percent as compared to th
Published 02 Feb, 2011 12:00am
SLICP secures Rs 9.33 billion as premium last year

SLICP secures Rs 9.33 billion as premium last year

The State Life Insurance Corporation of Pakistan (SLICP) has successfully secured Rs 9.33 billion as first year premium (New Business) during the period January 2010 to December 31, 2010 by showing an unprecedented increase of 35 percent as compared to th
Published 02 Feb, 2011 12:00am
SLICP secures Rs 9.33 billion as premium last year

SLICP secures Rs 9.33 billion as premium last year

The State Life Insurance Corporation of Pakistan (SLICP) has successfully secured Rs 9.33 billion as first year premium (New Business) during the period January 2010 to December 31, 2010 by showing an unprecedented increase of 35 percent as compared to th
Published 02 Feb, 2011 12:00am
Afghan war winnable without Pakistan: US

Afghan war winnable without Pakistan: US

Nato-led forces can still win the war in Afghanistan even if Pakistan fails to move against militant havens on the border, a top US general said on Tuesday. "That's not a mission stopper in my mind," General David Rodriguez, deputy US commander in Afghani
Published 02 Feb, 2011 12:00am
Afghan war winnable without Pakistan: US

Afghan war winnable without Pakistan: US

Nato-led forces can still win the war in Afghanistan even if Pakistan fails to move against militant havens on the border, a top US general said on Tuesday. "That's not a mission stopper in my mind," General David Rodriguez, deputy US commander in Afghani
Published 02 Feb, 2011 12:00am
WTO delays vote on EU trade breaks to Pakistan

WTO delays vote on EU trade breaks to Pakistan

A European Union plan to grant trade concessions to Pakistan suffered a setback this week after a number of non-EU countries complained it would hurt their economies, according to diplomats and officials. A World Trade Organisation committee in Geneva del
Published 02 Feb, 2011 12:00am
WTO delays vote on EU trade breaks to Pakistan

WTO delays vote on EU trade breaks to Pakistan

A European Union plan to grant trade concessions to Pakistan suffered a setback this week after a number of non-EU countries complained it would hurt their economies, according to diplomats and officials. A World Trade Organisation committee in Geneva del
Published 02 Feb, 2011 12:00am
WTO delays vote on EU trade breaks to Pakistan

WTO delays vote on EU trade breaks to Pakistan

A European Union plan to grant trade concessions to Pakistan suffered a setback this week after a number of non-EU countries complained it would hurt their economies, according to diplomats and officials. A World Trade Organisation committee in Geneva del
Published 02 Feb, 2011 12:00am
Diamer Bhasha dam: ADB refuses lending in 2011

Diamer Bhasha dam: ADB refuses lending in 2011

The Asian Development Bank (ADB) has refused to provide lending for the multi-billion dollars Diamer Bhasha dam project during the current calendar year despite Pakistan government's assurance of eliminating subsidy to the power sector, Business Recorder
Published 02 Feb, 2011 12:00am
Diamer Bhasha dam: ADB refuses lending in 2011

Diamer Bhasha dam: ADB refuses lending in 2011

The Asian Development Bank (ADB) has refused to provide lending for the multi-billion dollars Diamer Bhasha dam project during the current calendar year despite Pakistan government's assurance of eliminating subsidy to the power sector, Business Recorder
Published 02 Feb, 2011 12:00am
Diamer Bhasha dam: ADB refuses lending in 2011

Diamer Bhasha dam: ADB refuses lending in 2011

The Asian Development Bank (ADB) has refused to provide lending for the multi-billion dollars Diamer Bhasha dam project during the current calendar year despite Pakistan government''s assurance of eliminating subsidy to the power sector, Business Recorder
Published 02 Feb, 2011 12:00am
NICL scam: bank manager arrested, Supreme Court told

NICL scam: bank manager arrested, Supreme Court told

The Supreme Court was informed on Tuesday that the bank manager Mohammad Malik had been arrested for opening fake accounts for payments to Moonis Elahi, son of former Punjab Chief Minister Pervaiz Elahi.
Published 02 Feb, 2011 12:00am
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