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Archive - 2011-03-29
Erdogan arrives in Iraqi Kurd region
Top News

Erdogan arrives in Iraqi Kurd region

ARBIL: Turkish Prime Minister Recep Tayyip Erdogan arrived in the autonomous Kurdistan region of Iraq on Tuesday, a day
Published 29 Mar, 2011 09:38pm
Oil prices stage modest rebound
Energy

Oil prices stage modest rebound

LONDON: World oil prices edged higher on Tuesday as international powers gathered in London to map out the future of Lib
Published 29 Mar, 2011 09:30pm
Technip wins Emirates offshore contract
Top News

Technip wins Emirates offshore contract

PARIS: French oil services group Technip announced Tuesday it had secured a contract to develop an oil field offshore fr
Published 29 Mar, 2011 03:51pm
British economy shrinks 0.5 percent
Top News

British economy shrinks 0.5 percent

LONDON: Britain's economy shrank slightly less than previously thought late last year, official data showed Tuesday, but
Published 29 Mar, 2011 02:54pm
S&P cuts Greek credit rating
Europe

S&P cuts Greek credit rating

PARIS: Standard & Poor's downgraded its credit rating on Greece by two notches to BB- on Tuesday, saying they could be c
Published 29 Mar, 2011 02:15pm
Hong Kong shares end flat
Financial

Hong Kong shares end flat

HONG KONG: Hong Kong shares ended flat on Tuesday in cautious trade amid concerns over the Japanese nuclear power plant
Published 29 Mar, 2011 09:29am
Lenovo launches 'LePad' tablet in China
Top News

Lenovo launches 'LePad' tablet in China

SHANGHAI: Chinese computer giant Lenovo has warned that supplies of its just-released tablet computer could be restricte
Published 29 Mar, 2011 09:17am
Oil prices down in Asian trade
Energy

Oil prices down in Asian trade

SINGAPORE: Crude fell in Asian trade on Tuesday as Libyan rebels emboldened by Western air strikes marched towards dicta
Published 29 Mar, 2011 07:37am
PIA has silver linings in losses
BR Research

PIA has silver linings in losses

Pakistan International Airlines - often referred to as some kind of a giant animal white in colour - has again reported losses. This is cert
Published 29 Mar, 2011 12:00am
Ungainly wheat procurement
BR Research

Ungainly wheat procurement

Despite apprehensions of crop shortages following the devastating floods last year, production outlook for wheat in Pakistan remains robust.
Published 29 Mar, 2011 12:00am
Is gold on a winning streak?
BR Research

Is gold on a winning streak?

The growing political turmoil across the Middle East, in the presence of European debt woes is keeping the streak alive for gold. The glit
Published 29 Mar, 2011 12:00am
Asia rubber: China turns to inventory; floods hit Thailand

Asia rubber: China turns to inventory; floods hit Thailand

A few cargoes of Thai, Indonesia and Malaysian tyre grade changed hands at around $5 a kg, but main buyer China turned to domestic inventory, which was being offered at discounted prices, dealers said on Monday.
Published 29 Mar, 2011 12:00am
Grains: US grains pare gains on china stock

Grains: US grains pare gains on china stock

US wheat and corn pared early gains on Monday, under pressure after Chinese media reported abundant stock levels meant that Beijing would win the war on inflation and uncertainty ahead of this week's US planting report.
Published 29 Mar, 2011 12:00am
Indian bond yields edge down

Indian bond yields edge down

Indian federal bond yields on Monday inched lower on debt buying by traders encouraged by the government's slightly lower-than-forecast supply in the first half of the next fiscal year staring in April. The government said on Friday it would borrow 2.5 tr
Published 29 Mar, 2011 12:00am
Indian bond yields edge down

Indian bond yields edge down

Indian federal bond yields on Monday inched lower on debt buying by traders encouraged by the government's slightly lower-than-forecast supply in the first half of the next fiscal year staring in April. The government said on Friday it would borrow 2.5 tr
Published 29 Mar, 2011 12:00am
National Bank of Kuwait delays expansion

National Bank of Kuwait delays expansion

National Bank of Kuwait, the country's biggest lender, is delaying expansion plans due to regional unrest, its top official said on Thursday. Chief Executive Ibrahim Dabdoub also said he expects flat profits in 2011. Political unrest in the Middle East an
Published 29 Mar, 2011 12:00am
Daiwa steps up Asia focus with equity hires

Daiwa steps up Asia focus with equity hires

Japan's Daiwa Capital Markets has stepped up its $2 billion Asia expansion with two new senior equity hires and plans more to help it tap investor demand for emerging market growth, a top executive said.
Published 29 Mar, 2011 12:00am
Daiwa steps up Asia focus with equity hires

Daiwa steps up Asia focus with equity hires

Japan's Daiwa Capital Markets has stepped up its $2 billion Asia expansion with two new senior equity hires and plans more to help it tap investor demand for emerging market growth, a top executive said.
Published 29 Mar, 2011 12:00am
Aluminium Bahrain eyes exports to Europe

Aluminium Bahrain eyes exports to Europe

Aluminium Bahrain (Alba), the world's fourth-largest aluminium smelter, plans to increase exports of higher-margin products to Europe and says its production is not affected by strikes in Bahrain. "We will increase our sales in Europe (this year) and have
Published 29 Mar, 2011 12:00am
Scrushy acquittal may have lessons for Rajaratnam

Scrushy acquittal may have lessons for Rajaratnam

A high-profile white-collar defendant. A parade of former associates testifying against him. Secretly recorded conversations played for the jury. This isn't the insider trading trial of one-time billionaire money manager Raj Rajaratnam in New York. It was
Published 29 Mar, 2011 12:00am
Japan to face severe bottlenecks if ships stay away

Japan to face severe bottlenecks if ships stay away

Quake-crippled Japan could face severe supply chain bottlenecks if foreign shipping firms divert their vessels from Tokyo's port due to radiation fears, said the head of an A.P. Moller-Maersk subsidiary. Some merchant ships may be avoiding the port of Tok
Published 29 Mar, 2011 12:00am
UK's top share index rises

UK's top share index rises

Bullish broker comment helped push the banking sector higher on Monday, as Britain's top share index neared key technical resistance levels after its recent rally, with commodity stocks weighing on the upside. The FTSE 100 closed 3.73 points, or 0.1 perce
Published 29 Mar, 2011 12:00am
Indian shares rise for fifth straight day

Indian shares rise for fifth straight day

Indian shares rose for the fifth session in a row, gaining 0.7 percent on Monday to their highest close in two months, as investors picked up bargains following the sell-out seen so far this year, but dealers said the rally may soon fizzle out.
Published 29 Mar, 2011 12:00am
Seoul shares flat

Seoul shares flat

Seoul shares ended flat on Monday with sharp falls in shipbuilders including Daewoo Shipbuilding weighing, but firm gains in steelmakers like POSCO helped. The Korea Composite Stock Price Index ended up 0.11 percent at 2,056.39 points. The KOSPI 200 June
Published 29 Mar, 2011 12:00am
Hong Kong shares slip, China index rises

Hong Kong shares slip, China index rises

Disappointing earnings from big Chinese companies spooked investors in Hong Kong on Monday, pulling the market down 0.39 percent. Meanwhile, the Shanghai Composite Index gained 0.2 percent at 2,984.0 points, extending a 2.4 percent rise over the week last
Published 29 Mar, 2011 12:00am
Most Southeast Asian stocks lower

Most Southeast Asian stocks lower

Major Southeast Asian stock markets drifted lower on Monday, wary of turmoil in the Middle East and Japan's nuclear crisis, while weak palm oil price outlooks prompted selling in palm plantation stocks. Investors were largely cautious about the potential
Published 29 Mar, 2011 12:00am
European shares higher

European shares higher

European shares edged higher on Monday, with tech stocks Alcatel-Lucent and Nokia lifting the sector after a ratings upgrade. The pan-European FTSEurofirst 300 index of top shares closed 0.1 percent higher at 1,125.47 points on volumes of 65 percent of th
Published 29 Mar, 2011 12:00am
Australian shares stumble

Australian shares stumble

Australian shares edged lower on Monday, ending a six-day wining streak, as BHP Billiton and other miners retreated from recent highs on lower copper prices and concerns over China. Confidence expressed in the Chinese media that Beijing would cap inflatio
Published 29 Mar, 2011 12:00am
Monday's afternoon trade: Telecoms lift Wall Street but gains limited

Monday's afternoon trade: Telecoms lift Wall Street but gains limited

US stocks edged higher on Monday, lifted by strength in the telecommunications sector and an eighth straight monthly rise in consumer spending, but concerns about overseas turmoil kept gains in check. Japan's nuclear disaster and civil unrest in the Middl
Published 29 Mar, 2011 12:00am
Taiwan stocks down

Taiwan stocks down

Taiwan stocks closed down 0.67 percent on Monday, pressured by computer makers , with Acer Inc at limit down on broker downgrades after the company forecast worse-than-expected first-quarter sales and a flat second quarter. The main TAIEX index fell 57.33
Published 29 Mar, 2011 12:00am
Middle East markets mixed

Middle East markets mixed

Gulf Arab markets were mixed on Monday as investors remained cautious ahead of first-quarter earnings and concerns over political unrest weighed. "Markets will only focus back on the fundamentals after political turmoil settles. There are still a lot of r
Published 29 Mar, 2011 12:00am
Yuan lower

Yuan lower

The yuan closed lower against the dollar on Monday after the People's Bank of China fixed its daily mid-point slightly weaker to reflect a rise in the dollar index over the weekend. Despite the pullback, dealers expected the yuan to continue its recent ri
Published 29 Mar, 2011 12:00am
New ECB facility reinforces rate hike bets

New ECB facility reinforces rate hike bets

Euro interbank lending rates hit their highest in almost two years on Monday, with news that the European Central Bank was preparing a new lending facility reinforcing bets it will raise interest rates next month.
Published 29 Mar, 2011 12:00am
Peso, Singapore dollar down

Peso, Singapore dollar down

The Philippine peso and the Singapore dollar eased on Monday on dollar short covering, though equity inflows to the region will likely keep other Asian currencies trending higher in the near term. The peso eased on dollar demand for fixing and a overall r
Published 29 Mar, 2011 12:00am
Indian rupee falls

Indian rupee falls

The Indian rupee fell on Monday, snapping a six-day rising streak, tripped by weakness in the euro and month-end dollar demand from importers, but gains in local shares limited the slide. The partially convertible rupee ended at 44.83/84 per dollar, 0.4 p
Published 29 Mar, 2011 12:00am
Swiss franc slips

Swiss franc slips

The Swiss franc slipped slightly against the dollar and the euro on Monday despite ongoing turmoil in the Middle East and Japan's nuclear crisis on prospects for tighter policy in the eurozone and United States. The franc was down 0.2 percent against the
Published 29 Mar, 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 Monday. 72.70/72.72 (previous 72.67/72.70). Call Money Rates: 6.00-8.00 percent (previous 6.25-12.00 percent).
Published 29 Mar, 2011 12:00am
Euro eases in London

Euro eases in London

The euro eased on Monday, heading into a cluster of Asian demand and technical support, after Germany's ruling party lost a key state election, while hawkish comments by Federal Reserve officials lifted the dollar. The loss by Chancellor Angela Merkel's c
Published 29 Mar, 2011 12:00am
Early trade in New York: Euro outperforms most majors

Early trade in New York: Euro outperforms most majors

The euro outperformed most major currencies on Monday, with more gains likely over the near term, given that investors believe that tighter monetary policy by the European Central Bank is around the corner. ECB President Jean-Claude Trichet said on Monday
Published 29 Mar, 2011 12:00am
Euro dips in Asia

Euro dips in Asia

The euro dipped on Monday after German Chancellor Angela Merkel's conservatives lost a key state election and it could pull back towards $1.39 in the near-term, with the dollar supported after hawkish comments from some Fed officials.
Published 29 Mar, 2011 12:00am
Sterling falls broadly

Sterling falls broadly

Sterling fell broadly on Monday, hitting a five-month low versus the euro and a two-month low against the dollar due to a pullback in expectations on how soon interest rates may rise given a still fragile economy. The pound fell as low as $1.5937, its wea
Published 29 Mar, 2011 12:00am
Australian held near 29-year peak

Australian held near 29-year peak

The Australian dollar held near a 29-year peak against the greenback on Monday, but struggled to make further headway after hawkish comments from several Federal Reserve officials helped underpin the US currency. The Aussie rose, however, against the Japa
Published 29 Mar, 2011 12:00am
Japan's Advantest says to buy Verigy for $1.1 billion

Japan's Advantest says to buy Verigy for $1.1 billion

Japan's Advantest Corp, the world's No 2 maker of chip-testing equipment, said on Monday it has agreed to buy US-listed Verigy Ltd for about 90.9 billion yen ($1.1 billion) to bolster its position in testers for chips used in smartphones and other mobile
Published 29 Mar, 2011 12:00am
EBay to buy GSI for $1.96 billion cash

EBay to buy GSI for $1.96 billion cash

EBay Inc plans to buy e-commerce company GSI Commerce for $1.96 billion in cash in a bid to draw more buyers and sellers to its online marketplaces. EBay said on Monday it offered GSI shareholders $29.25 per share, a 50.9 percent premium over its closing
Published 29 Mar, 2011 12:00am
EADS unit to buy Canada's Vector Aerospace

EADS unit to buy Canada's Vector Aerospace

EADS has ended a three-year acquisition drought in North America with a C$625 million ($640 million) cash bid for Canadian overhaul and repair firm Vector Aerospace. Europe's largest aerospace company has had its eye on transatlantic expansion for some ti
Published 29 Mar, 2011 12:00am
S&P warns of further Portuguese ratings downgrade

S&P warns of further Portuguese ratings downgrade

Standard & Poor's warned Monday that it could further downgrade Portugal's credit rating by a notch this week, after lowering it by two levels last week following the government's resignation. "Based on current information and expectations, we could lower
Published 29 Mar, 2011 12:00am
Philips warns on TV unit, pressure mounts on new CEO

Philips warns on TV unit, pressure mounts on new CEO

Dutch electronics group Philips said its struggling TV business will again fail to break even this year, raising pressure on new management to strike a major licensing deal or sell the unit. The company has been hit by fierce competition from ever cheaper
Published 29 Mar, 2011 12:00am
Porsche seeks to keep VW deal alive with cash call

Porsche seeks to keep VW deal alive with cash call

Porsche SE is driving ahead with a 5 billion euro rights issue in an attempt to keep hopes of a merger with carmaker Volkswagen alive by paying off a chunk of its heavy debts. Investors took the planned capital hike in their stride and shares in the sport
Published 29 Mar, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 235,648 tonnes of cargo including 107,025 tonnes of import cargo, 128,623 tonnes of export cargo and 5,721 loaded & empty containers during last 48 hours ended at 0700 hours on Monday. The total import cargo of 107,025 tonnes comp
Published 29 Mar, 2011 12:00am
India's cotton acreage seen up 15 percent

India's cotton acreage seen up 15 percent

India's farmers could boost cotton acreage by 15 percent in the 2011/12 season, a trade body said on Monday, raising the possibility that domestic prices could ease from June from current near-record highs. The Cotton Association of India (CAI) said its e
Published 29 Mar, 2011 12:00am
US Midwest corn bids firm

US Midwest corn bids firm

Corn spot basis bids were firm at Illinois processors and river terminals and at an Ohio elevator on Monday, supported by slow farmer sales of the grain, grain merchants said. Soyabean bids were weak on the Mississippi River but mostly steady elsewhere in
Published 29 Mar, 2011 12:00am
Indonesia's white sugar output to rise 16 percent

Indonesia's white sugar output to rise 16 percent

White sugar production in Indonesia, Southeast Asia's largest sugar consumer, will climb by 16 percent this year on drier weather, with planting rising by 3.5 percent, the Indonesian Sugar Association (AGI) said on Monday. Indonesia produced about 2.25 mi
Published 29 Mar, 2011 12:00am
China to sell wheat from state reserves

China to sell wheat from state reserves

China will release state reserves of wheat whose quality has been downgraded for use in animal feed production, marking the first such sale of wheat reserves to feed mills, analysts said on Monday. Beijing will offer a first batch of 300,000 tonnes of fee
Published 29 Mar, 2011 12:00am
Prices mixed on grain market

Prices mixed on grain market

Prices moved both ways on the wholesales grain market on Monday in prices of good trading, dealers said. On the cereal side juwar was quoted at Rs 2600, wheat old and new (Bardan) gained Rs 25 to Rs 2450 and Rs 2565, other items maintained the weekend lev
Published 29 Mar, 2011 12:00am
Kirana items mixed on Jodia Bazar

Kirana items mixed on Jodia Bazar

The trading in Kirana items moved both ways on Jodia Bazar here on Monday. The following changes were noted.
Published 29 Mar, 2011 12:00am
Rates remain firm amid slow trade on cotton market

Rates remain firm amid slow trade on cotton market

Prices were steady on the cotton market on Monday in process of modest trading, dealers said. Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 12,200, they said. In Sindh and Punjab phutti price of low type was at Rs 4000 and superi
Published 29 Mar, 2011 12:00am
Oil cake market rates

Oil cake market rates

Contracts were unchanged on the forward cottonseed oilcake market on Monday in process of trading, dealers said. The March vaida that had closed at Rs 1326.20 opened at the same rate. The May contract which closed at Rs 1420.00 also commenced at the same
Published 29 Mar, 2011 12:00am
US Plains HRW wheat bids unchanged

US Plains HRW wheat bids unchanged

Hard red winter wheat basis bids were holding unchanged on Monday in several US Plains locations. Moisture through Kansas over the weekend was noted, but western areas where moisture was most needed received only negligible amounts, said Meteorlogix forec
Published 29 Mar, 2011 12:00am
Britain to enforce new bribery laws by July

Britain to enforce new bribery laws by July

Tough British anti-corruption laws that companies fear will expose them to unlimited fines will come into force in late June or early July, a spokesman for justice secretary Ken Clarke said on Monday. The rules were due to be implemented by April but Clar
Published 29 Mar, 2011 12:00am
Northern Rock cuts nearly 700 jobs

Northern Rock cuts nearly 700 jobs

British bank Northern Rock, nationalised three years ago to avert financial meltdown, said Monday that it will axe almost 700 jobs by the end of 2011 as it looks to return to the private sector. The loss-making bank said in a statement that it planned "a
Published 29 Mar, 2011 12:00am
'Putin corruption' report picks on dacha friends

'Putin corruption' report picks on dacha friends

A group of Russia's most prominent opposition leaders produced a scathing report Monday accusing Vladimir Putin of enriching his old dacha neighbours and friends during his decade in power. The report - entitled simply "Putin. Corruption" - tries to chron
Published 29 Mar, 2011 12:00am
Russia to merge, sell two Moscow airports

Russia to merge, sell two Moscow airports

Two major airports in Moscow will be combined into a single state-owned entity, renovated and later privatised to boost their performance, Prime Minister Vladimir Putin said at government meeting on Monday. "We agreed with the mayor of Moscow, the transpo
Published 29 Mar, 2011 12:00am
Qatar to spend over $125 billion in 2011-2016

Qatar to spend over $125 billion in 2011-2016

Qatar plans to spend over $125 billion in the next five years on construction and hydrocarbon-related projects, the Opec member's new national development strategy showed on Monday. The economy of the world's top liquefied natural gas exporter should expa
Published 29 Mar, 2011 12:00am
US consumer spending up, inflation accelerates

US consumer spending up, inflation accelerates

US consumer spending rose for an eighth straight month in February, but much of the gain went to cover rising food and energy prices, providing little lift to the economy. Overall consumer spending rose 0.7 percent last month after a 0.3 percent increase
Published 29 Mar, 2011 12:00am
Zimbabwe to take over all foreign-owned mining firms

Zimbabwe to take over all foreign-owned mining firms

All foreign-owned mining companies in Zimbabwe must sell majority stakes to locals within six months, under new rules released Monday that clouded the nation's drive for foreign investment. The new rules marked the latest attempt by long-ruling President
Published 29 Mar, 2011 12:00am
ECB emergency scheme seen capping Irish bank bill

ECB emergency scheme seen capping Irish bank bill

European Central Bank support should mean Ireland will not have to spend more than the 35 billion euros set aside to recapitalise its banks and it may also get a cheaper bailout deal next month, an EU source said on Monday. ECB plans to give medium-term f
Published 29 Mar, 2011 12:00am
World Bank sees no global crisis from Middle East unrest

World Bank sees no global crisis from Middle East unrest

Ongoing turmoil in Middle Eastern countries will not trigger another global financial crisis, World Bank President Robert Zoellick said on Monday, adding that the impact should be limited to rising oil prices. "I think the effect in the macroeconomy is mo
Published 29 Mar, 2011 12:00am
Honda recalls minivans in US

Honda recalls minivans in US

Honda Motor Co Ltd is recalling 2,800 of its Odyssey minivans to repair potentially faulty windows. There is a potential failure with the driver and front-passenger door power windows in the affected 2011 models in which the window may come off the track
Published 29 Mar, 2011 12:00am
AIA Australia targets retail life insurance; has sufficient capital

AIA Australia targets retail life insurance; has sufficient capital

The Australian unit of Asia's No 3 insurer AIA has entered the higher margin retail life insurance sector, seeing growth opportunities following a period of margin pressure in group insurance, its chief executive said on Thursday. Group insurance, which i
Published 29 Mar, 2011 12:00am
Kenya's tourism hit by Egypt, local politics

Kenya's tourism hit by Egypt, local politics

Tourism in Kenya will suffer this year after Egypt slashed hotel rates by up to 50 percent to draw back visitors after weeks of political unrest, a major Kenyan hotelier said on Friday. Mahmud Janmohamed, managing director of hotel group TPS Eastern Afric
Published 29 Mar, 2011 12:00am
EU should keep farm spending intact: Poland

EU should keep farm spending intact: Poland

Poland wants the European Union to keep farm spending at current levels in the next multi-year budget for 2014-20 and, during its presidency of the bloc later this year, will champion the idea of equal payments per hectare. Polish Farm Minister Marek Sawi
Published 29 Mar, 2011 12:00am
Follow the money, not the oil, in BP's Russia row

Follow the money, not the oil, in BP's Russia row

Forget Arctic oil that may not be produced for decades; the unravelling of the deal between BP and Rosneft is all about controlling cash flows and potentially huge value as Kremlin Oil goes global. "Komu vygodno?" - who benefits - is the play. It's why BP
Published 29 Mar, 2011 12:00am
The First MicroFinanceBank - saviour for the masses

The First MicroFinanceBank - saviour for the masses

Daulat from Karachi was a single mother with three children who had faced many hardships during the early years of her life. Undeterred by the tough task of fending for her young children, she started as a small caterer and would sell items cooked by her
Published 29 Mar, 2011 12:00am
Government does not want clash among institutions: Zardari

Government does not want clash among institutions: Zardari

President Asif Ali Zardari on Monday said that the government did not want clash of the institutions and deemed that "democracy is the best revenge". Speaking at the 21st All Pakistan Newspapers Society (APNS) Award distribution ceremony at Aiwan-e-Sadr,
Published 29 Mar, 2011 12:00am
Government does not want clash among institutions: Zardari

Government does not want clash among institutions: Zardari

President Asif Ali Zardari on Monday said that the government did not want clash of the institutions and deemed that "democracy is the best revenge". Speaking at the 21st All Pakistan Newspapers Society (APNS) Award distribution ceremony at Aiwan-e-Sadr,
Published 29 Mar, 2011 12:00am
India, Pakistan avoid controversial issues

India, Pakistan avoid controversial issues

First round of talks formal peace talks at Secretary's level, between Pakistan and India in New Delhi, was completed on Monday. Discussions between the two countries will continue on Tuesday also. The delegates of both countries avoided any controversial
Published 29 Mar, 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 29 Mar, 2011 12:00am
India, Pakistan avoid controversial issues

India, Pakistan avoid controversial issues

First round of talks formal peace talks at Secretary's level, between Pakistan and India in New Delhi, was completed on Monday. Discussions between the two countries will continue on Tuesday also. The delegates of both countries avoided any controversial
Published 29 Mar, 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 Commi
Published 29 Mar, 2011 12:00am
Minimum agenda for foreign secretaries talks

Minimum agenda for foreign secretaries talks

India and Pakistan have decided to formulate 'minimum agreed trade agenda' for the forthcoming Foreign Secretary level talks expected to be held on April 28-29 well-informed sources told Business Recorder. Indian High Commissioner Sharat Sabharwal
Published 29 Mar, 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 Monday (March 28, 2011).

Published 29 Mar, 2011 12:00am
Minimum agenda for foreign secretaries talks

Minimum agenda for foreign secretaries talks

India and Pakistan have decided to formulate 'minimum agreed trade agenda' for the forthcoming Foreign Secretary level talks expected to be held on April 28-29 well-informed sources told Business Recorder. Indian High Commissioner Sharat Sabharwal
Published 29 Mar, 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 Monday (March 28, 2011).

Published 29 Mar, 2011 12:00am
Textile units: FBR may announce amnesty scheme

Textile units: FBR may announce amnesty scheme

The Federal Board of Revenue is expected to announce an amnesty scheme for the textile units to be registered with the sales tax department after issuance of the amended zero-rating notification in next few days under the documentation drive.
Published 29 Mar, 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 Monday (March 28, 2011).

Published 29 Mar, 2011 12:00am
Textile units: FBR may announce amnesty scheme

Textile units: FBR may announce amnesty scheme

The Federal Board of Revenue is expected to announce an amnesty scheme for the textile units to be registered with the sales tax department after issuance of the amended zero-rating notification in next few days under the documentation drive.
Published 29 Mar, 2011 12:00am
Textile units: FBR may announce amnesty scheme

Textile units: FBR may announce amnesty scheme

The Federal Board of Revenue is expected to announce an amnesty scheme for the textile units to be registered with the sales tax department after issuance of the amended zero-rating notification in next few days under the documentation drive.
Published 29 Mar, 2011 12:00am
FBR notifies establishment of Directorate General I&I IR

FBR notifies establishment of Directorate General I&I IR

The Federal Board of Revenue (FBR) on Monday notified establishment of the Directorate General, Directorate of Intelligence and Investigation, Inland Revenue (I&I, IR) having powers of income tax assessment and audit of new taxpayers for detecting cases o
Published 29 Mar, 2011 12:00am
FBR notifies establishment of Directorate General I&I IR

FBR notifies establishment of Directorate General I&I IR

The Federal Board of Revenue (FBR) on Monday notified establishment of the Directorate General, Directorate of Intelligence and Investigation, Inland Revenue (I&I, IR) having powers of income tax assessment and audit of new taxpayers for detecting cases o
Published 29 Mar, 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 Monday (March 28, 2011).

Published 29 Mar, 2011 12:00am
FBR notifies establishment of Directorate General I&I IR

FBR notifies establishment of Directorate General I&I IR

The Federal Board of Revenue (FBR) on Monday notified establishment of the Directorate General, Directorate of Intelligence and Investigation, Inland Revenue (I&I, IR) having powers of income tax assessment and audit of new taxpayers for detecting cases o
Published 29 Mar, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (March 28, 2011).
Published 29 Mar, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (March 28, 2011).

Published 29 Mar, 2011 12:00am
Index gains 30.9 points

Index gains 30.9 points

The KSE-100 index on Monday gained 30.90 points and closed at 11,583.03 points on the back of support mainly by foreign investors. The profit taking in early hours forced the index land into negative at 11,532.84 points intra-day low, down 19.29 points.
Published 29 Mar, 2011 12:00am
Index gains 30.9 points

Index gains 30.9 points

The KSE-100 index on Monday gained 30.90 points and closed at 11,583.03 points on the back of support mainly by foreign investors. The profit taking in early hours forced the index land into negative at 11,532.84 points intra-day low, down 19.29 points.
Published 29 Mar, 2011 12:00am
Index gains 30.9 points

Index gains 30.9 points

The KSE-100 index on Monday gained 30.90 points and closed at 11,583.03 points on the back of support mainly by foreign investors. The profit taking in early hours forced the index land into negative at 11,532.84 points intra-day low, down 19.29 points.
Published 29 Mar, 2011 12:00am
BRIndex30 up 24.45 points

BRIndex30 up 24.45 points

On Monday, BRIndex30 opened at 8,623.28 and remained positive throughout the trading session. It touched an intraday high of 8,699.84 and an intraday low of 8,623.28 and closed at 8,647.73 which was 24.45 points or 0.28 percent higher than previous close.
Published 29 Mar, 2011 12:00am
BRIndex30 up 24.45 points

BRIndex30 up 24.45 points

On Monday, BRIndex30 opened at 8,623.28 and remained positive throughout the trading session. It touched an intraday high of 8,699.84 and an intraday low of 8,623.28 and closed at 8,647.73 which was 24.45 points or 0.28 percent higher than previous close.
Published 29 Mar, 2011 12:00am
Ban proposed on gas supply to MPs' uplift schemes

Ban proposed on gas supply to MPs' uplift schemes

Sui Northern Gas Pipeline Limited (SNGPL) has proposed a ban on new gas connections under parliamentarians' development schemes as a step to minimise gas load shedding in Punjab, Business Recorder has learnt. Government had imposed a ban on new gas
Published 29 Mar, 2011 12:00am
Ban proposed on gas supply to MPs' uplift schemes

Ban proposed on gas supply to MPs' uplift schemes

Sui Northern Gas Pipeline Limited (SNGPL) has proposed a ban on new gas connections under parliamentarians' development schemes as a step to minimise gas load shedding in Punjab, Business Recorder has learnt. Government had imposed a ban on new gas
Published 29 Mar, 2011 12:00am
Ban proposed on gas supply to MPs'' uplift schemes

Ban proposed on gas supply to MPs'' uplift schemes

Sui Northern Gas Pipeline Limited (SNGPL) has proposed a ban on new gas connections under parliamentarians'' development schemes as a step to minimise gas load shedding in Punjab, Business Recorder has learnt. Government had imposed a ban on new ga
Published 29 Mar, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Monday (March 28, 2011).

Published 29 Mar, 2011 12:00am
Cotton to be cultivated on 8.01 million acres this year

Cotton to be cultivated on 8.01 million acres this year

Pakistan will cultivate cotton on 8.01 million acres this year, which is about 8 percent higher than the area under the crop last year. This was decided in a meeting of Cotton Committee constituted by the President of Pakistan to increase local production
Published 29 Mar, 2011 12:00am
Cotton to be cultivated on 8.01 million acres this year

Cotton to be cultivated on 8.01 million acres this year

Pakistan will cultivate cotton on 8.01 million acres this year, which is about 8 percent higher than the area under the crop last year. This was decided in a meeting of Cotton Committee constituted by the President of Pakistan to increase local production
Published 29 Mar, 2011 12:00am
Cotton to be cultivated on 8.01 million acres this year

Cotton to be cultivated on 8.01 million acres this year

Pakistan will cultivate cotton on 8.01 million acres this year, which is about 8 percent higher than the area under the crop last year. This was decided in a meeting of Cotton Committee constituted by the President of Pakistan to increase local production
Published 29 Mar, 2011 12:00am
Wheat procurement: SBP to provide funding to provinces and Passco

Wheat procurement: SBP to provide funding to provinces and Passco

The State Bank of Pakistan (SBP) has, reportedly, agreed to extend conditional funding to provinces and Pakistan Agricultural Storage and Services Corporation (Passco) for wheat procurement, well-informed sources in the Finance Ministry told Business R
Published 29 Mar, 2011 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (March 28, 2011).
Published 29 Mar, 2011 12:00am
Wheat procurement: SBP to provide funding to provinces and Passco

Wheat procurement: SBP to provide funding to provinces and Passco

The State Bank of Pakistan (SBP) has, reportedly, agreed to extend conditional funding to provinces and Pakistan Agricultural Storage and Services Corporation (Passco) for wheat procurement, well-informed sources in the Finance Ministry told Business R
Published 29 Mar, 2011 12:00am
Wheat procurement: SBP to provide funding to provinces and Passco

Wheat procurement: SBP to provide funding to provinces and Passco

The State Bank of Pakistan (SBP) has, reportedly, agreed to extend conditional funding to provinces and Pakistan Agricultural Storage and Services Corporation (Passco) for wheat procurement, well-informed sources in the Finance Ministry told Business R
Published 29 Mar, 2011 12:00am
14 security personnel die in ambush

14 security personnel die in ambush

A militant ambush on a convoy of security forces in a restive tribal region on Monday left 14 personnel dead, officials said. The incident took place in the Shindhand area in the restive Khyber tribal region on the Afghan border. "The personnel were retur
Published 29 Mar, 2011 12:00am
14 security personnel die in ambush

14 security personnel die in ambush

A militant ambush on a convoy of security forces in a restive tribal region on Monday left 14 personnel dead, officials said. The incident took place in the Shindhand area in the restive Khyber tribal region on the Afghan border. "The personnel were retur
Published 29 Mar, 2011 12:00am
Syrian forces fire to disperse Deraa protest

Syrian forces fire to disperse Deraa protest

Syrian forces opened fire to disperse hundreds of protesters in Deraa calling for an end to emergency laws on Monday, but demonstrators regrouped despite a heavy troop deployment, a witness said. At least 61 people have been killed in 10 days of anti-gove
Published 29 Mar, 2011 12:00am
Syrian forces fire to disperse Deraa protest

Syrian forces fire to disperse Deraa protest

Syrian forces opened fire to disperse hundreds of protesters in Deraa calling for an end to emergency laws on Monday, but demonstrators regrouped despite a heavy troop deployment, a witness said. At least 61 people have been killed in 10 days of anti-gove
Published 29 Mar, 2011 12:00am
US, France, Britain discuss Libyan transition

US, France, Britain discuss Libyan transition

France and Britain called on Monday for supporters of Libyan leader Muammar Qadhafii to drop him before it is "too late" and asked Libyans opposing him to join a political process to pave the way for his departure. Leaders of the United States, France, Br
Published 29 Mar, 2011 12:00am
US, France, Britain discuss Libyan transition

US, France, Britain discuss Libyan transition

France and Britain called on Monday for supporters of Libyan leader Muammar Qadhafii to drop him before it is "too late" and asked Libyans opposing him to join a political process to pave the way for his departure. Leaders of the United States, France, Br
Published 29 Mar, 2011 12:00am
Qatar recognises Libyan rebel body as legitimate

Qatar recognises Libyan rebel body as legitimate

Qatar became the first Arab country on Monday to recognise Libya's rebels as the people's sole legitimate representative, in a move that may presage similar moves from other Gulf states. Word of the decision came a day after a senior Libyan rebel official
Published 29 Mar, 2011 12:00am
Qatar recognises Libyan rebel body as legitimate

Qatar recognises Libyan rebel body as legitimate

Qatar became the first Arab country on Monday to recognise Libya's rebels as the people's sole legitimate representative, in a move that may presage similar moves from other Gulf states. Word of the decision came a day after a senior Libyan rebel official
Published 29 Mar, 2011 12:00am
Equities register gains on LSE

Equities register gains on LSE

Equities registered gains at the Lahore Stock Exchange (LSE) on Monday amid ascending transaction volume mainly on account of fresh buying activity in selective scrips. The LSE-25 index showed an improvement of 22.54 points and closed at 3259.82 points ag
Published 29 Mar, 2011 12:00am
Equities register gains on LSE

Equities register gains on LSE

Equities registered gains at the Lahore Stock Exchange (LSE) on Monday amid ascending transaction volume mainly on account of fresh buying activity in selective scrips. The LSE-25 index showed an improvement of 22.54 points and closed at 3259.82 points ag
Published 29 Mar, 2011 12:00am
Bears dominate proceedings on ISE

Bears dominate proceedings on ISE

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 14.25 points as the ISE Ten Index moved from 2599.12 to 2584.87 po
Published 29 Mar, 2011 12:00am
Bears dominate proceedings on ISE

Bears dominate proceedings on ISE

Bears dominated the proceedings at the Islamabad Stock Exchange (ISE) where equities showed negative signs under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 14.25 points as the ISE Ten Index moved from 2599.12 to 2584.87 po
Published 29 Mar, 2011 12:00am
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