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Archive - 2011-04-07
Forex reserves dip
Top News

Forex reserves dip

KARACHI: Foreign exchange reserves of Pakistan declined by 32 million dollars to 17.637 billion dollars. According to a
Published 07 Apr, 2011 01:12pm
Hong Kong closes flat
Financial

Hong Kong closes flat

HONG KONG: Hong Kong shares ended flat on Thursday as dealers cashed in profits following a five-session rally. The ben
Published 07 Apr, 2011 10:24am
German economy powering ahead
Europe

German economy powering ahead

BERLIN: Germany will steam ahead in 2011, leaving most of its rivals trailing in its wake, the country's leading economi
Published 07 Apr, 2011 10:00am
Clinton to visit quake-hit Japan: report
Top News

Clinton to visit quake-hit Japan: report

TOKYO: US Secretary of State Hillary Clinton is to visit Japan this month in the wake of a devastating earthquake and ts
Published 07 Apr, 2011 08:18am
Cements March comeback
BR Research

Cements March comeback

Pakistani cement manufacturers had been far from pleased with their sale performance till February. Supply disruptions due to the 2010 flood
Published 07 Apr, 2011 12:00am
Towards debt market development
BR Research

Towards debt market development

To say that Pakistan does not have a vibrant debt market would perhaps be an overstatement. A more appropriate expression would be that its
Published 07 Apr, 2011 12:00am
Obama, Karzai deplore burning

Obama, Karzai deplore burning

President Barack Obama and Afghan President Hamid Karzai deplored the burning of the Holy Quran by a fundamentalist US pastor in an hour-long video teleconference on Wednesday and condemned deadly violence sparked by the incident, the White House said. Ka
Published 07 Apr, 2011 12:00am
Scientists grow proto-eyes in the laboratory

Scientists grow proto-eyes in the laboratory

In a major advance toward regenerative medicine, researchers have for the first time coaxed stem cells from a mammal into becoming an embryonic eye, according to a study released Wednesday. The results, published in Nature, show that growing a complex hum
Published 07 Apr, 2011 12:00am
Syria lifts niqab ban, shuts casino

Syria lifts niqab ban, shuts casino

Syria lifted on Wednesday a ban on teachers wearing the full face veil and ordered the closure of a casino, moves aimed at placating conservative Muslims in the tightly-controlled country that has seen weeks of unrest. Last month pro-democracy protests er
Published 07 Apr, 2011 12:00am
Gates holds talks with Saudi king

Gates holds talks with Saudi king

US Secretary of Defence Robert Gates was holding talks in Riyadh on Wednesday with Saudi King Abdullah, with both sides concerned by Iranian intentions in the region and spiralling unrest in Yemen. "Iran will be a major focus of their conversations, both
Published 07 Apr, 2011 12:00am
Saudi Arabia, allies focus on Yemen's Saleh exit

Saudi Arabia, allies focus on Yemen's Saleh exit

Saudi Arabia and its Gulf allies are trying to broker a deal to have Yemen's president step down and hand over power, possibly to an interim council of tribal and political leaders, sources told Reuters on Wednesday. Ali Abdullah Saleh's at times bloody r
Published 07 Apr, 2011 12:00am
Budget impasse means no pay for US troops

Budget impasse means no pay for US troops

US troops will not get paid if the government is forced to shut down due to a political deadlock over the budget, officials said Wednesday. The US military will keep up operations overseas, including wars in Afghanistan, Iraq and Libya, but troops - inclu
Published 07 Apr, 2011 12:00am
Libyan rebels retake land, Nato cites air strike woes

Libyan rebels retake land, Nato cites air strike woes

Libyan rebels regained ground in a new advance on an oil port on Wednesday but accused Nato of inaction hindering their quest to oust Muammar Gaddafi. Nato said Gaddafi was making it increasingly difficult for its pilots to carry out air strikes by enscon
Published 07 Apr, 2011 12:00am
Gates visits Baghdad ahead of US withdrawal

Gates visits Baghdad ahead of US withdrawal

US Defence Secretary Robert Gates arrived on Wednesday in Baghdad where he will urge Iraq to cement political stability ahead of plans to complete a US withdrawal this year. Gates, who has visited Iraq around a dozen times since he became defence secretar
Published 07 Apr, 2011 12:00am
Yunus case could hit ties, US warns Bangladesh

Yunus case could hit ties, US warns Bangladesh

The United States warned anew Tuesday that Bangladesh's row with microfinance pioneer Muhammad Yunus could hurt growing ties, after the Nobel laureate lost a final appeal against his dismissal. Robert Blake, the assistant secretary of state for South Asia
Published 07 Apr, 2011 12:00am
62 killed, thousands displaced by Namibian floods

62 killed, thousands displaced by Namibian floods

The United Nations says 62 people have been killed and thousands forced from their homes since the start of the year by flooding in northern Namibia. In a statement Wednesday, the UN children's fund says the numbers could "dramatically increase" soon.
Published 07 Apr, 2011 12:00am
Kamran, Razzaq dropped as team for West Indies tour announced

Kamran, Razzaq dropped as team for West Indies tour announced

As per expectations, all-rounder Abdul Razzaq and struggling wicket keeper Kamran Akmal have been axed from the One-day and Twenty20 team for the upcoming tour of West Indies, while senior players-pacer Umar Gul and batsman Younis Khan have been given res
Published 07 Apr, 2011 12:00am
National Bank Football Cup 2011: PFF announces competition system

National Bank Football Cup 2011: PFF announces competition system

Pakistan Football Federation (PFF) has announced Competition System for the National Bank Football Cup to be played from 14-27 April 2011 at Faisalabad. According to PFF Operation Cell, the competition will consist of two stages: Group Stage (league syste
Published 07 Apr, 2011 12:00am
J-League teams bounce back in Asia

J-League teams bounce back in Asia

Japan's J-League teams shrugged off the chaos caused by last month's horrific earthquake to grind out valuable draws on Wednesday, completing a successful AFC Champions League week for the nation. Kashima Antlers, whose stadium was damaged in the disaster
Published 07 Apr, 2011 12:00am
Inter's season in tatters after 5-2 home defeat

Inter's season in tatters after 5-2 home defeat

Inter Milan, treble winners under Jose Mourinho last season, saw their season disintegrate as they collapsed 5-2 at home to a makeshift Schalke 04 side in their Champions League quarter-final first leg on Tuesday. Four days after seeing their hopes of a s
Published 07 Apr, 2011 12:00am
Warne denies India coach talk

Warne denies India coach talk

Australian spin legend Shane Warne on Wednesday denied media reports that he was interested in coaching World Cup champions India. "Just got told on bus - apparently I put my hand up to coach India. Wow - first I have heard of it - Sorry to disappoint but
Published 07 Apr, 2011 12:00am
South Africa-born Wagner takes five wickets in one over

South Africa-born Wagner takes five wickets in one over

South Africa-born Neil Wagner took an unprecedented five wickets in one over in a first-class domestic cricket competition Wednesday. Wagner, a 25-year-old left-arm fast bowler for New Zealand's Otago, achieved his feat just before lunch in the Plunket Sh
Published 07 Apr, 2011 12:00am
Jayawardene quits as vice-captain

Jayawardene quits as vice-captain

Veteran batsman Mahela Jayawardene quit as vice-captain and a three-member selection committee also resigned en masse in a major shake-up in Sri Lankan cricket following the team's World Cup defeat. "I think it's time to move on, give the reins to someone
Published 07 Apr, 2011 12:00am
Law becomes new coach

Law becomes new coach

Sri Lanka Cricket on Wednesday promoted assistant coach and former Australian batsman Stuart Law to guide the national team ahead of next month's tour of England. "He will be the new interim coach," a spokesman for Sri Lanka Cricket, the governing body of
Published 07 Apr, 2011 12:00am
Afridi should captain Pakistan in all formats: Imran

Afridi should captain Pakistan in all formats: Imran

Pakistan's limited overs captain Shahid Afridi should return to Test cricket and skipper the national team in all three formats of the sport, former captain Imran Khan said. Afridi pulled out of a test series against Australia last year in England after l
Published 07 Apr, 2011 12:00am
Harbhajan, Yuvraj slam Afridi remarks

Harbhajan, Yuvraj slam Afridi remarks

Indian cricket stars Harbhajan Singh and Yuvraj Singh have hit out at Pakistan captain Shahid Afridi for his comments that Indians do not have "big clean hearts" like Pakistani Muslims. Afridi also praised Pakistan's media for being "100 times better" tha
Published 07 Apr, 2011 12:00am
Muralitharan clears British visa hurdle, play county

Muralitharan clears British visa hurdle, play county

Sri Lanka's legendary spinner Muttiah Muralitharan, who was worried about Britain's new visa regulations, has secured a work permit to play county cricket, his manager said Wednesday. Kushil Gunasekera said the British authorities had expedited his visa a
Published 07 Apr, 2011 12:00am
Putin demands strong Russian team for 2018

Putin demands strong Russian team for 2018

Russian Prime Minister Vladimir Putin on Wednesday set the country's sports ministry and Russian Football Union (RFU) the task of preparing a strong team for the 2018 World Cup. "We should prepare a strong national team for the 2018 World Cup," Putin said
Published 07 Apr, 2011 12:00am
New index finds heavy economic toll of US violence

New index finds heavy economic toll of US violence

Violence takes a heavy toll on US state economies, but the burden varies widely, with the most violent states losing tens billions of dollars compared with hundreds of millions in the most peaceful ones, according to a study released on Wednesday.
Published 07 Apr, 2011 12:00am
Inflation a threat to sustained Asian recovery: ADB

Inflation a threat to sustained Asian recovery: ADB

Some of Asia's emerging economies are showing signs of overheating, underscoring the need for further policy tightening and more flexible foreign exchange rates to tackle growing inflationary pressures, the Asian Development Bank said on Wednesday.
Published 07 Apr, 2011 12:00am
IEA calls for scrapping $312 billion in fuel subsidies

IEA calls for scrapping $312 billion in fuel subsidies

The Intern-ational Energy Agency is calling for 312 billion dollars in fuel subsidies to be scrapped in a bid to promote clean energy sources, according to a report presented in Abu Dhabi on Wednesday. "More aggressive clean energy policies are required,
Published 07 Apr, 2011 12:00am
US and Colombia reach deal on trade pact

US and Colombia reach deal on trade pact

After weeks of intense negotiations, the US and Colombia have reached a deal on a free trade pact that the Obama administration says is vital to the president's economic agenda. A senior administration official said the agreement came together after the C
Published 07 Apr, 2011 12:00am
Brazil adopts China import tariff

Brazil adopts China import tariff

Brazil said on Tuesday it will apply import tariffs on specific goods from China and the United States, the latest measures to help stem a flood of cheap imports that is eroding the country's trade balance. The move comes only days before President Dilma
Published 07 Apr, 2011 12:00am
Greece rules out debt makeover amid budget review

Greece rules out debt makeover amid budget review

Greece on Wednesday again ruled out any restructuring of its soaring debt as EU, IMF and European Central Bank experts picked through a new three-year austerity budget coming this month. The Socialist government, which has received mixed results from unpo
Published 07 Apr, 2011 12:00am
US housing system a bad model: IMF

US housing system a bad model: IMF

The International Monetary Fund on Wednesday singled out the United States as a poster child for bad housing policies, calling on Washington to reform for the sake of global financial stability. "The US housing finance system, which has several unique fea
Published 07 Apr, 2011 12:00am
EU lawmakers mount new push to tax citizens, businesses

EU lawmakers mount new push to tax citizens, businesses

European Parliament heavyweights launched a new bid Wednesday to replace state EU funding with direct taxes on half a billion citizens and 20 million companies. The head of the parliament's budget committee, France's Alain Lamassoure, was joined by ex-Bel
Published 07 Apr, 2011 12:00am
UK's industrial output posts largest drop since 2009

UK's industrial output posts largest drop since 2009

British industrial production slumped in February by the biggest amount for 18 months, official data showed on Wednesday, denting hopes of a swift recovery for the faltering economy. Industrial output, which includes mining and quarrying, sank 1.2 percent
Published 07 Apr, 2011 12:00am
Transocean executives donate bonuses after oil spill

Transocean executives donate bonuses after oil spill

Senior executives of the firm that owned the troubled Deepwater Horizon rig that exploded last year, triggering a spill, are donating their bonuses to the families of 11 workers killed in the disaster. The move came after Swiss-based Transocean Ltd faced
Published 07 Apr, 2011 12:00am
World Bank to set up Arab infrastructure fund

World Bank to set up Arab infrastructure fund

Global development banks said on Tuesday they were looking to raise up to $1 billion to leverage more funding for rail, road, electricity and other infrastructure projects in Arab countries under pressure to deliver better services to their people. In a j
Published 07 Apr, 2011 12:00am
Russia summons Bank of Moscow chief in fraud probe

Russia summons Bank of Moscow chief in fraud probe

Russian police investigators on Wednesday summoned the president of the powerful Bank of Moscow for questioning in a probe into a fraudulent loan, the RIA Novosti news agency reported. The bank chief, Andrei Borodin, was on Tuesday reported by Russian new
Published 07 Apr, 2011 12:00am
Maruti recalls 13,000 diesel cars

Maruti recalls 13,000 diesel cars

India's biggest carmaker Maruti Suzuki announced its second recall in just over a year on Wednesday, saying more than 13,000 diesel models would be checked for a possibly faulty engine component. The manufacturer, which is majority owned by Japan's Suzuki
Published 07 Apr, 2011 12:00am
China ups fuel prices

China ups fuel prices

China will increase retail gasoline and diesel prices by 5-5.5 percent to new record highs from Thursday, the government said, easing the burden of state refiners who face international oil prices at 2.5-year highs. "The current domestic inflationary pres
Published 07 Apr, 2011 12:00am
Yuan hits record high

Yuan hits record high

The yuan closed just two pips shy of its intraday record trading peak to the dollar on Wednesday as the People's Bank of China fixed its daily mid-point at an all-time high after an interest rate hike, in the latest sign that the government is going all o
Published 07 Apr, 2011 12:00am
Won at fresh 2-1/2-year high

Won at fresh 2-1/2-year high

Asian currencies enjoyed gains on Wednesday with the South Korean won reaching a 2-1/2-year high against the dollar, fuelled by expectation of more steps to contain inflation in the region after Emerging Asian currencies are expected to sustain the bullis
Published 07 Apr, 2011 12:00am
Indian rupee climbs

Indian rupee climbs

The Indian rupee climbed to its highest level in 5-1/2 months on Wednesday, tracking the euro's gains against the dollar and as foreign funds stepped up purchases of Indian equities. The partially convertible rupee ended at 44.16/17 per dollar, after touc
Published 07 Apr, 2011 12:00am
Australian and New Zealand dollars surge versus yen

Australian and New Zealand dollars surge versus yen

The Australian and New Zealand dollars soared to multi-month highs against a broadly weaker yen on Wednesday, buoyed by a revival in carry trades and risk appetite. The Aussie tore to a 2.5-year high of 88.68 yen as investors sought higher-yielding assets
Published 07 Apr, 2011 12:00am
Swiss franc falls versus euro

Swiss franc falls versus euro

The Swiss franc hit its lowest level this year against the euro in early trading as traders bought euros and sold francs on expectations the European Central Bank could raise interest rates on Thursday. The franc fell 0.4 percent against the euro compared
Published 07 Apr, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 72.80/72.83 (previous 72.79/72.82). Call Money Rates: 4.75-6.50 percent (previous 4.50-9.00 percent).
Published 07 Apr, 2011 12:00am
Euro advances in New York

Euro advances in New York

The euro rose to an 11-month high against the yen and neared a recent five-month peak against the dollar on Tuesday on expectations of rising eurozone interest rates that could keep the zone's common currency supported in months ahead. Hedge fund adviser
Published 07 Apr, 2011 12:00am
Early trade in New York: Euro rises to more than 14-month peak

Early trade in New York: Euro rises to more than 14-month peak

The euro climbed against the dollar to its highest in more than a year ahead of an expected ECB rate hike, while the yen slid on Wednesday to an 11-month low against the euro and a six-month low against the dollar. More losses were expected for the yen as
Published 07 Apr, 2011 12:00am
Yen jumps in London

Yen jumps in London

The yen slid on Wednesday to an 11-month low against the euro and a six-month low against the dollar, while the euro hit its strongest in more than a year versus the dollar in anticipation of a eurozone rate hike. More losses were expected for the yen as
Published 07 Apr, 2011 12:00am
Yen's fall extends in Asia

Yen's fall extends in Asia

The yen extended a steep decline on Wednesday, hitting a 2-1/2 year low against the Australian dollar and an 11-month trough against the euro, threatening a breach of long-term support levels that could pave the way for further losses.
Published 07 Apr, 2011 12:00am
Sterling slips

Sterling slips

Sterling slipped on Wednesday as data showing a surprise fall in UK industrial output cast a shadow over the economy's growth prospects and reduced the chances for a near-term rise in UK interest rates. The Office for National Statistics said that industr
Published 07 Apr, 2011 12:00am
Euro money rates rise

Euro money rates rise

European money market rates rose on Wednesday to 21-month highs as traders positioned for the European Central Bank to raise interest rates at its Thursday meeting for the first time in nearly three years. Current money market rates reflect expectations t
Published 07 Apr, 2011 12:00am
FTSE hits seven-week high

FTSE hits seven-week high

Banks helped drive Britain's top shares to a near seven-week high on Wednesday following a Portuguese debt auction, while Marks & Spencer rose on better-than-expected sales, lifting sentiment in retailers. The FTSE 100 ended up 34.07 points, or 0.6 percen
Published 07 Apr, 2011 12:00am
European stocks extend rally

European stocks extend rally

European stocks rose on Wednesday, adding to their three-week rally as investors looked beyond the European Central Bank's expected rate rise, brushing aside Portugal's debt woes and piling into recently-hit banks. The FTSEurofirst 300 index of top Europe
Published 07 Apr, 2011 12:00am
Seoul shares slightly lower

Seoul shares slightly lower

Seoul shares edged lower on Wednesday after the market posted a record high the previous session, led by falls in technology plays and banks, including Samsung Electronics Co Ltd. The Korea Composite Stock Price Index ended down 0.17 percent at 2,126.71 p
Published 07 Apr, 2011 12:00am
Nikkei at one-week low

Nikkei at one-week low

Japan's Nikkei stock average fell to a one-week closing low, losing ground for a second straight day on Wednesday as concerns grew about mounting production losses for quake-hit manufacturers. The benchmark index has regained more than half the losses it
Published 07 Apr, 2011 12:00am
Indian shares slip

Indian shares slip

Indian shares dropped 0.4 percent on Wednesday as investors took profits after a sharp rally seen since last month, with fears of a spike in inflation fuelled by higher global oil prices also weighing on sentiment. Banking stocks led the losses, after a c
Published 07 Apr, 2011 12:00am
South East Asian markets: Indonesia, Philippines at three-month high

South East Asian markets: Indonesia, Philippines at three-month high

Most Southeast Asian stock markets gained on Wednesday on bargain hunting as investors shrugged off China's largely expected rate increase but worry about inflation kept investors in check. Rising oil prices because of expected short supplies in the Middl
Published 07 Apr, 2011 12:00am
Treasuries fall

Treasuries fall

US Treasuries fell and yields rose on Tuesday on the view that the inflation concerns of some Federal Reserve policymakers could cause the central bank to tighten monetary conditions before year-end. Fissures among Fed policymakers have lately grown more
Published 07 Apr, 2011 12:00am
Treasuries fall

Treasuries fall

US Treasuries fell and yields rose on Tuesday on the view that the inflation concerns of some Federal Reserve policymakers could cause the central bank to tighten monetary conditions before year-end. Fissures among Fed policymakers have lately grown more
Published 07 Apr, 2011 12:00am
DP World plans 1 for 20 share consolidation

DP World plans 1 for 20 share consolidation

DP World said it plans a one-for-20 share consolidation, taking another step towards a planned London listing and helping boost its shares to their highest in two months. DP World, one of the more profitable assets of debt-laden Dubai World and which said
Published 07 Apr, 2011 12:00am
S&P hovers near resistance, weak volume persists

S&P hovers near resistance, weak volume persists

The S&P 500 failed to break a key technical resistance level for a second day on Tuesday as low trading volume raised further questions about the market's strength. The broader market index closed slightly below 1,333, a closely watched level as it repres
Published 07 Apr, 2011 12:00am
Hong Kong shares move up

Hong Kong shares move up

China's stock indexes rose on Wednesday, led by financial shares after Beijing's fourth rate increase since October was seen benefiting lenders by widening its margins. All 16 banking shares listed on the Shanghai and Shenzhen markets rose, led by Bank of
Published 07 Apr, 2011 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 1.69 percent to a two-month closing high on Wednesday, underpinned by gains in tech issues such as TSMC, amid hopes Japan will pump money to boost its economy after the massive quake. All sectors were on the positive ground, led by auto
Published 07 Apr, 2011 12:00am
Middle East markets: Aramex lifts Dubai

Middle East markets: Aramex lifts Dubai

Dubai's index snapped a three-day losing streak as courier Aramex surged after an analyst upgrade on Wednesday, while petrochemichals rallied in Saudi Arabia on quarterly earnings. Aramex jumped 6.2 percent, its biggest gain in four weeks. The firm's geog
Published 07 Apr, 2011 12:00am
Bangladesh exports soar 41 percent on garment sales

Bangladesh exports soar 41 percent on garment sales

Bangladesh's exports surged nearly 41 percent in March from a year earlier to a record $2.14 billion as apparel sales rose sharply, led by a continuing shift in production from China to the lower-cost South Asian country. Exports for July to March, the fi
Published 07 Apr, 2011 12:00am
Geronzi's exit from Generali marks end of an era

Geronzi's exit from Generali marks end of an era

Powerful corporate networker Cesare Geronzi, a symbol of old-style Italian capitalism, unexpectedly quit as chairman of Generali after clashing with directors over strategy. Geronzi, a 76-year-old former banker appointed a year ago at the helm of Europe's
Published 07 Apr, 2011 12:00am
Portugal sees 'irreparable damage' in debt cost

Portugal sees 'irreparable damage' in debt cost

Portugal's caretaker government, fighting to avoid a bailout, said on Wednesday a political crisis had caused "irreparable damage" after borrowing costs rocketed as it sold a billion euros in short-term debt. The sale of 6- and 12-month treasury bills bro
Published 07 Apr, 2011 12:00am
Prices a bit easy in slow trade on grain market

Prices a bit easy in slow trade on grain market

Business activity was seen at low ebb on the wholesale grain market on Wednesday as most of the buyers kept to the sideline due to steady arrivals from upcountry centres, dealers said. On the cereal side wheat old Bardan was down by Rs 25 to Rs 2400 and w
Published 07 Apr, 2011 12:00am
Oil cake market rates

Oil cake market rates

The contracts were up on the forward cottonseed oilcake market on Wednesday in process of trading, dealers said. The May vaida tat had closed at Rs 1327.40 opened with a gain of 40 paisa at Rs 1327.80. The July contract which closed at Rs 1420.50 opened w
Published 07 Apr, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 74,860 tonnes of cargo including 31,092 tonnes of import cargo, 43,768 tonnes of export cargo and 3,994 loaded & empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 31,092 tonnes compr
Published 07 Apr, 2011 12:00am
Vietnamese rice prices rise

Vietnamese rice prices rise

Vietnam's rice export prices advanced further in the past week, supported by new loading demand, even though supply is ample at the peak of the country's largest crop, traders said on Wednesday. Demand for Vietnamese rice is growing, with deals totalling
Published 07 Apr, 2011 12:00am
Little rain in sight for parched US Plains wheat

Little rain in sight for parched US Plains wheat

The US Plains wheat belt was warm and dry the past day with little to no rain expected the next week, adding more stress to a crop that is struggling from a lack of moisture, a forecaster said Wednesday. The biggest US wheat crop, hard red winter, has bee
Published 07 Apr, 2011 12:00am
Top Kenyan tea prices rise

Top Kenyan tea prices rise

The average price of Kenya's top grade tea rose for a third week running to reach $3.50 per kg at auction, from $3.40 a week earlier, brokers said on Wednesday. Mombasa-based African Tea Brokers (ATB) said in its weekly market report that 18 percent of th
Published 07 Apr, 2011 12:00am
France sees spring barley sown area up

France sees spring barley sown area up

France's farm ministry said on Wednesday it expected the area sown with spring barley ahead of the 2011 harvest to rise by 7.3 percent compared with last year at 450,000 hectares. This first estimate for the spring barley area brought total barley sowings
Published 07 Apr, 2011 12:00am
Canadian canola futures mostly lower

Canadian canola futures mostly lower

ICE Canadian canola futures mostly eased on Tuesday after China, the world's top oilseed importer, raised interest rates, but new-crop months gained as concerns grew about flooding ahead of planting season. Melting under way of heavy snowfall on Canadian
Published 07 Apr, 2011 12:00am
India set to harvest record grains, may allow exports

India set to harvest record grains, may allow exports

India's record grains output in 2011 may prompt the government to allow wheat exports, Farm Minister Sharad Pawar said on Wednesday, boosting the prospect of overseas sales of the grain from the world's second biggest producer. Junior Farm Minister Arun Y
Published 07 Apr, 2011 12:00am
New York cotton

New York cotton

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

Published 07 Apr, 2011 12:00am
New York cotton

New York cotton

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

Published 07 Apr, 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 07 Apr, 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 07 Apr, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Wednesday (April 06, 2011).

Published 07 Apr, 2011 12:00am
CORRECTION: `Benazir Bhutto's assassination: investigation report'

CORRECTION: `Benazir Bhutto's assassination: investigation report'

Apropos a news item "BB's assassination: Bilawal unhappy with Malik's report?" carried by Business Recorder yesterday, it has been established without any iota of doubt that no one from the PPP CEC, repeat no one, had shown any sense of dissatisfac
Published 07 Apr, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Wednesday (April 06, 2011).

Published 07 Apr, 2011 12:00am
CORRECTION: `Benazir Bhutto's assassination: investigation report'

CORRECTION: `Benazir Bhutto's assassination: investigation report'

Apropos a news item "BB's assassination: Bilawal unhappy with Malik's report?" carried by Business Recorder yesterday, it has been established without any iota of doubt that no one from the PPP CEC, repeat no one, had shown any sense of dissatisfac
Published 07 Apr, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Wednesday (April 06, 2011).

Published 07 Apr, 2011 12:00am
Opec can't do much

Opec can't do much

Opec ministers on Wednesday brushed aside worries that high fuel prices would slow economic growth, saying there was little they could do to rein in $120-a-barrel crude. Iraq's Deputy Prime Minister for Energy Affairs Hussain al-Shahristani, a former oil
Published 07 Apr, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Wednesday (April 06, 2011).

Published 07 Apr, 2011 12:00am
Opec can't do much

Opec can't do much

Opec ministers on Wednesday brushed aside worries that high fuel prices would slow economic growth, saying there was little they could do to rein in $120-a-barrel crude. Iraq's Deputy Prime Minister for Energy Affairs Hussain al-Shahristani, a former oil
Published 07 Apr, 2011 12:00am
Opec can''t do much

Opec can''t do much

Opec ministers on Wednesday brushed aside worries that high fuel prices would slow economic growth, saying there was little they could do to rein in $120-a-barrel crude. Iraq''s Deputy Prime Minister for Energy Affairs Hussain al-Shahristani, a former oil
Published 07 Apr, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (April 06, 2011).
Published 07 Apr, 2011 12:00am
Tanker leaves port with Libyan rebel oil consignment

Tanker leaves port with Libyan rebel oil consignment

A tanker left the Libyan port of Tobruk on Wednesday carrying the first consignment of oil since the rebel government won recognition from some countries, an AFP journalist reported. The Greek-owned, Liberian-registered tanker left a terminal near Tobruk,
Published 07 Apr, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (April 06, 2011).

Published 07 Apr, 2011 12:00am
Tanker leaves port with Libyan rebel oil consignment

Tanker leaves port with Libyan rebel oil consignment

A tanker left the Libyan port of Tobruk on Wednesday carrying the first consignment of oil since the rebel government won recognition from some countries, an AFP journalist reported. The Greek-owned, Liberian-registered tanker left a terminal near Tobruk,
Published 07 Apr, 2011 12:00am
CPI inflation up by 14.2 percent

CPI inflation up by 14.2 percent

The CPI inflation soared by 14.20 percent during July-March period of 2010-11 over the same period of last year, reflecting a strong trend of increase in food prices, according to Federal Bureau of Statistics (FBS). Official figure of Consumer Price Index
Published 07 Apr, 2011 12:00am
CPI inflation up by 14.2 percent

CPI inflation up by 14.2 percent

The CPI inflation soared by 14.20 percent during July-March period of 2010-11 over the same period of last year, reflecting a strong trend of increase in food prices, according to Federal Bureau of Statistics (FBS). Official figure of Consumer Price Index
Published 07 Apr, 2011 12:00am
CPI inflation up by 14.2 percent

CPI inflation up by 14.2 percent

The CPI inflation soared by 14.20 percent during July-March period of 2010-11 over the same period of last year, reflecting a strong trend of increase in food prices, according to Federal Bureau of Statistics (FBS). Official figure of Consumer Price Index
Published 07 Apr, 2011 12:00am
Pakistan and China ink 720 megawatts power project deal

Pakistan and China ink 720 megawatts power project deal

Pakistan and China on Wednesday signed an agreement for the construction of a 720 mega watt hydel power project at Korrat bordering Punjab and Azad Kashmir at a cost of 1.2 billion dollars. Talking to media after the signing ceremony, Minister for Water a
Published 07 Apr, 2011 12:00am
Pakistan and China ink 720 megawatts power project deal

Pakistan and China ink 720 megawatts power project deal

Pakistan and China on Wednesday signed an agreement for the construction of a 720 mega watt hydel power project at Korrat bordering Punjab and Azad Kashmir at a cost of 1.2 billion dollars. Talking to media after the signing ceremony, Minister for Water a
Published 07 Apr, 2011 12:00am
Pakistan and China ink 720 megawatts power project deal

Pakistan and China ink 720 megawatts power project deal

Pakistan and China on Wednesday signed an agreement for the construction of a 720 mega watt hydel power project at Korrat bordering Punjab and Azad Kashmir at a cost of 1.2 billion dollars. Talking to media after the signing ceremony, Minister for Water a
Published 07 Apr, 2011 12:00am
BP Pakistan and SSGCL extend GSA for six months

BP Pakistan and SSGCL extend GSA for six months

British Petroleum (BP) Pakistan and Sui Southern Gas Company Limited (SSGCL) have extended the Gas Sales Agreement (GSA) for another six months effective February 3, 2011 resulting in extension of implementation agreement regarding LPG extraction plant be
Published 07 Apr, 2011 12:00am
BP Pakistan and SSGCL extend GSA for six months

BP Pakistan and SSGCL extend GSA for six months

British Petroleum (BP) Pakistan and Sui Southern Gas Company Limited (SSGCL) have extended the Gas Sales Agreement (GSA) for another six months effective February 3, 2011 resulting in extension of implementation agreement regarding LPG extraction plant be
Published 07 Apr, 2011 12:00am
BP Pakistan and SSGCL extend GSA for six months

BP Pakistan and SSGCL extend GSA for six months

British Petroleum (BP) Pakistan and Sui Southern Gas Company Limited (SSGCL) have extended the Gas Sales Agreement (GSA) for another six months effective February 3, 2011 resulting in extension of implementation agreement regarding LPG extraction plant be
Published 07 Apr, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Wednesday (April 06, 2011).

Published 07 Apr, 2011 12:00am
FBR terms 17 percent GST rate very high

FBR terms 17 percent GST rate very high

The Federal Board of Revenue has termed 17 percent standard rate of sales tax as very high which should be reduced and brought down to a reasonable level. Abrar Ahmed Khan FBR Member Reformed General Sales Tax (RGST) on Wednesday informed the National Ass
Published 07 Apr, 2011 12:00am
FBR terms 17 percent GST rate very high

FBR terms 17 percent GST rate very high

The Federal Board of Revenue has termed 17 percent standard rate of sales tax as very high which should be reduced and brought down to a reasonable level. Abrar Ahmed Khan FBR Member Reformed General Sales Tax (RGST) on Wednesday informed the National Ass
Published 07 Apr, 2011 12:00am
FBR terms 17 percent GST rate very high

FBR terms 17 percent GST rate very high

The Federal Board of Revenue has termed 17 percent standard rate of sales tax as very high which should be reduced and brought down to a reasonable level. Abrar Ahmed Khan FBR Member Reformed General Sales Tax (RGST) on Wednesday informed the National Ass
Published 07 Apr, 2011 12:00am
Index up 31.81 points

Index up 31.81 points

Positive trend was witnessed at the Karachi share market on Wednesday on the back of local investors' support, and the KSE-100 index gained 31.81 points to close at 11,933.18 points. "Foreign investors opted for profit taking and emerged net sellers of sh
Published 07 Apr, 2011 12:00am
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