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Archive - 2011-04-13
Asia financial markets closed
Financial

Asia financial markets closed

HONG KONG: Financial markets in India and Thailand are closed on Thursday for public holidays. Copyright AFP (Agence Fr
Published 13 Apr, 2011 11:02pm
Huawei to create 500 jobs in Britain
Top News

Huawei to create 500 jobs in Britain

LONDON: Chinese telecoms giant Huawei said Wednesday that it planned to create 500 jobs in Britain over the next three y
Published 13 Apr, 2011 10:55pm
Obama top aide meets Saudi king
Top News

Obama top aide meets Saudi king

RIYADH: US National Security Advisor Tom Donilon met King Abdullah in Riyadh on Tuesday and delivered a letter from Pres
Published 13 Apr, 2011 07:02pm
PM criticises US drone strikes
Top News

PM criticises US drone strikes

ISLAMABAD: Prime Minister Yousuf Raza Gilani on Wednesday criticised US drone strikes in his country's tribal belt, sayi
Published 13 Apr, 2011 04:29pm
NBP appoints Vice President PR
Top News

NBP appoints Vice President PR

KARACHI: National Bank of Pakistan (NBP) has appointed senior media communication manager, Syed Ibne Hassan, as vice pre
Published 13 Apr, 2011 08:56am
Babar Awan tenders resignation
Top News

Babar Awan tenders resignation

ISLAMABAD: Federal Law Minister Dr.Babar Awan has tendered his resignation as Minister and it was disclosed by him whi
Published 13 Apr, 2011 06:35am
Babar Awan tenders resignation
Top News

Babar Awan tenders resignation

ISLAMABAD: Federal Law Minister Dr.Babar Awan has tendered his resignation as Minister and it was disclosed by him whi
Published 13 Apr, 2011 06:19am
Is auto industry a lame duck?
BR Research

Is auto industry a lame duck?

Its been a testing year for auto manufacturers in Pakistan. From rising water levels that ravaged the landscape at the start of this fiscal
Published 13 Apr, 2011 12:00am
From 3G to 4G: a leap of faith
BR Research

From 3G to 4G: a leap of faith

When the Indian government successfully sold a 3G technology license last year and raked in $14.6 billion in the process, Pakistani authorit
Published 13 Apr, 2011 12:00am
NASA announces museums on shuttle's 30th birthday

NASA announces museums on shuttle's 30th birthday

Thirty years after the first space flight of the iconic US shuttle program, NASA announced on Tuesday where the retiring orbiters would take their final resting places as museum pieces. Discovery, the oldest space shuttle of the fleet, will land at the St
Published 13 Apr, 2011 12:00am
Ouattara urges peace after Ivory Coast rival held

Ouattara urges peace after Ivory Coast rival held

Ivory Coast's internationally recognised president, Alassane Ouattara, called for peace after his rival was arrested with the help of French forces, but he faces a huge task reuniting a country shattered by civil war. Ouattara, who won a November presiden
Published 13 Apr, 2011 12:00am
'Heavy fighting' between Sudan army, Darfur rebels

'Heavy fighting' between Sudan army, Darfur rebels

Heavy clashes between the Sudanese army and a coalition of armed groups in Northern Darfur has caused a number of casualties on both sides, the army and the rebels said on Tuesday. "An SAF (northern army) patrol was attacked on Sunday by joint forces of t
Published 13 Apr, 2011 12:00am
Russia proudly marks 50 years since Gagarin orbit

Russia proudly marks 50 years since Gagarin orbit

From patriotic songs blaring on the metro to parties on the International Space Station, Russia proudly celebrated on Tuesday 50 years since rocketing Yuri Gagarin into the first human orbit. In a video link with space, Russian President Dmitry Medvedev t
Published 13 Apr, 2011 12:00am
1961 Soviet space capsule selling at NYC auction

1961 Soviet space capsule selling at NYC auction

A 1961 Woviet space capsule is being auctioned in New York City. The capsule was used on a test run for the spacecraft that carried the first man into outer space. Its pre-sale estimate is $2 million to $10 million. Sotheby's is offering it Tuesday on the
Published 13 Apr, 2011 12:00am
Syrian forces storm Sunni town

Syrian forces storm Sunni town

Syrian security forces stormed a town near the city of Banias on Tuesday, activists said, in a further move to quell unrest that has spread across the country, challenging the rule of President Bashar al-Assad. Assad has faced down the mass protests, now
Published 13 Apr, 2011 12:00am
France says Nato must do more in Libya

France says Nato must do more in Libya

Libyan rebels reported heavy fighting in the besieged city of Misrata on Tuesday and France said Nato must step up bombing to stop Muammar Qadhafi's forces attacking civilians. "It is not acceptable that Misrata is still under fire and being bombarded by
Published 13 Apr, 2011 12:00am
Residents sue Rio over soccer, football construction

Residents sue Rio over soccer, football construction

Hundreds of families in Rio de Janeiro who say they are being forced from their homes because of construction related to the 2014 World Cup and 2016 Olympics have filed suit against the city, court officials told AFP Tuesday. Residents of the neighbourhoo
Published 13 Apr, 2011 12:00am
EU slaps sanctions on 32 Iranians over rights abuses

EU slaps sanctions on 32 Iranians over rights abuses

The European Union imposed assets freezes and travel bans on 32 Iranian officials on Tuesday, saying they had been involved in human rights violations. British Foreign Secretary William Hague said on the sidelines of a meeting of European Union foreign mi
Published 13 Apr, 2011 12:00am
Suspended Kenyan minister cleared of graft charges

Suspended Kenyan minister cleared of graft charges

Kenya's suspended cabinet minister William Ruto was cleared of corruption charges on Tuesday by the High Court, removing one of the cases that could have foiled his bid to run for the presidency. Ruto, who was suspended from his higher education portfolio
Published 13 Apr, 2011 12:00am
Three on trial in Bahrain charged with spying for Iran

Three on trial in Bahrain charged with spying for Iran

One Bahraini and two Iranians are on trial in Bahrain on charges of spying for Iran, which the kingdom has accused of meddling in its internal affairs, the official BNA news said on Tuesday. The three are accused of providing military and economic informa
Published 13 Apr, 2011 12:00am
Nine dead in Iraq attacks

Nine dead in Iraq attacks

Nine people were killed, including four policemen, from violence in and around Baghdad on Tuesday, security and hospital sources said. Among those killed was a police colonel, while more than a dozen people were wounded in the attacks. Two of the police v
Published 13 Apr, 2011 12:00am
US senators introduce online privacy 'bill of rights'

US senators introduce online privacy 'bill of rights'

US senators John Kerry and John McCain introduced an online privacy bill Tuesday that seeks to strike a balance between protecting the personal information of Web users and the needs of businesses to conduct electronic commerce. The former Democratic and
Published 13 Apr, 2011 12:00am
Javed Miandad turns down coaching job

Javed Miandad turns down coaching job

Pakistan confirmed Tuesday that former captain Javed Miandad had turned down an offer to become the side's batting coach for personal reasons. The team has been let down by faltering fielding and under-achieving batsmen and Pakistan Cricket Board (PCB) ch
Published 13 Apr, 2011 12:00am
Sri Lanka recalls players from IPL

Sri Lanka recalls players from IPL

Sri Lanka's sports authorities on Tuesday ordered its cricketers playing in the ongoing Indian Premier League to return home for training ahead of next month's tour of England. Sports Minister Mahinadananda Althugamage said he wanted team members to prior
Published 13 Apr, 2011 12:00am
Poland international charged in match-fixing probe

Poland international charged in match-fixing probe

Poland midfielder Lukasz Piszczek has been indicted over a match-fixing scandal involving his former club, Zaglebie Lubin, Polish media reported Tuesday quoting prosecutors. The 25-year-old was among 14 individuals indicted, Polish dailies, sports website
Published 13 Apr, 2011 12:00am
Training camp for West Indies tour starts

Training camp for West Indies tour starts

A two-day training camp of Pakistan cricket team, as a part of preparations for upcoming tour of West Indies has been started here at Gaddafi Stadium on Tuesday. On the opening day of short training camp, the team members held two training sessions of str
Published 13 Apr, 2011 12:00am
Rajasthan post second IPL win

Rajasthan post second IPL win

Shane Warne's Rajasthan Royals thrashed Delhi Daredevils by six wickets to pocket their second successive victory in the Indian Premier League on Tuesday. Chasing a stiff 152, Rajasthan rode on fine knocks by Rahul Dravid and Johan Botha to overhaul the t
Published 13 Apr, 2011 12:00am
FIFA committee takes over Bosnia federation

FIFA committee takes over Bosnia federation

FIFA on Tuesday set up a committee to take over the running of Bosnian football and resolve rifts that led to Bosnia Hercegovina's suspension from international football this month. The six strong normalisation committee will immediately cut off the old t
Published 13 Apr, 2011 12:00am
14 women attend PFF referee course

14 women attend PFF referee course

As many as 14 young women referees who are participating in the PFF Women Referee Consolidating Course here at FIFA House on Tuesday learn about rules of the game as well as the stringent guidelines the officials need to keep. On the second day of course,
Published 13 Apr, 2011 12:00am
235 students awarded degrees at Ziauddin University Convocation

235 students awarded degrees at Ziauddin University Convocation

Ziauddin University Convocation, 2011, was held at Expo Center here on Tuesday, where 235 students were awarded degrees of graduation and post-graduation levels. This was the eighth convocation of the Ziauddin University after its establishment in 1995.
Published 13 Apr, 2011 12:00am
Meezan Islamic Index Criteria revised

Meezan Islamic Index Criteria revised

The Shariah Supervisory Board of Meezan Bank has revised the Meezan Islamic Index Criteria for screening stocks for Shariah-compliance, and decided to further improve the criteria of total debt-to-asset ratio from 40 percent to 37 percent. With the revisi
Published 13 Apr, 2011 12:00am
Parvez Hasan's book 'My Life My Country' launched

Parvez Hasan's book 'My Life My Country' launched

The Institute of Business Administration (IBA) Karachi in collaboration with Ferozsons Publishers has launched the book titled "My Life My Country". The book has been written by Parvez Hasan, a well-known Pakistani economist. In his career of more than 50
Published 13 Apr, 2011 12:00am
27 employees to perform Hajj on NBP's expenses

27 employees to perform Hajj on NBP's expenses

National Bank of Pakistan conducted Hajj 2011 balloting for 27 employees (5 executives up to VP, 10 officers up to Grade-I, 10 clerical/non-clerical staff and 2 retired employees) for performance of Hajj on Bank's expenses. NBP President Qamar Hussain, pr
Published 13 Apr, 2011 12:00am
Swiss franc gains versus euro

Swiss franc gains versus euro

The Swiss franc gained versus the euro on Tuesday, lifted by an uptick in risk aversion after Japan upgraded the severity of the nuclear crisis and bourses in Asia posted falls. The franc was up 0.4 percent against the euro compared to the New York close,
Published 13 Apr, 2011 12:00am
Australian and New Zealand dollars slip

Australian and New Zealand dollars slip

The Australian and New Zealand dollars retreated on both the yen and US dollar on Tuesday as investors decided to book some profits on what has been one-way traffic in recent days. The Aussie shed more than two yen to as far as 86.89 yen, a sharp reversal
Published 13 Apr, 2011 12:00am
Won, peso decline

Won, peso decline

The South Korean won and the Philippine peso surrendered some of their recent gains on Wednesday as global investors rushed to take profits from recent rallies in riskier assets and covered yen-short positions against emerging Asian currencies. The region
Published 13 Apr, 2011 12:00am
Yuan slightly down

Yuan slightly down

The yuan closed down slightly against the dollar on Tuesday after hitting a slew of record highs since the start of this year, with the People's Bank of China signalling it wanted to see some pullback for now. Spot yuan closed at 6.5403 against the dollar
Published 13 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 Tuesday. 72.82/72.83 (previous 72.80/72.86). Call Money Rates: 6.00-12.00 percent (previous 6.00-12.00 percent).
Published 13 Apr, 2011 12:00am
Dollar rebounds in New York

Dollar rebounds in New York

The dollar rebounded on Monday from last week's sharp decline against the euro, but a strong bearish stance toward the greenback is expected ahead of next month's US debt limit debate. Disparities in global central bank monetary policy will not help the c
Published 13 Apr, 2011 12:00am
Midday trade in New York: yen, Swiss franc rise broadly

Midday trade in New York: yen, Swiss franc rise broadly

The yen and Swiss franc gained on Tuesday as Japan's nuclear situation worsened and commodities sold off, prompting investors to unload risky assets funded by the two low-yielding currencies. In midday trading, the euro has come off its peaks, trading 0.2
Published 13 Apr, 2011 12:00am
Euro rises versus dollar in London

Euro rises versus dollar in London

The yen snapped a losing streak on Tuesday as investors trimmed earlier bearish bets and booked profits, although gains appeared likely to be short-lived with demand for yen-funded carry trades set to pick up again. The euro reversed losses to trade 0.2 p
Published 13 Apr, 2011 12:00am
Yen jumps in Asia

Yen jumps in Asia

The yen rose sharply on Tuesday and was the biggest gainer among major currencies over the past 24 hours as profit-taking on bets against it gathered momentum after Japanese authorities upgraded the nuclear crisis to a par with Chernobyl and several stron
Published 13 Apr, 2011 12:00am
Sterling falls versus euro

Sterling falls versus euro

Sterling fell to a five-and-a-half month low against the euro, nearing its weakest level in a year after a surprise drop in UK inflation rate dented speculation of a near-term rise in interest rates. Annual inflation fell for the first time since last sum
Published 13 Apr, 2011 12:00am
Sterling borrowing falls

Sterling borrowing falls

Investors slashed on Tuesday their expectations of when the Bank of England will raise interest rates after UK inflation slowed in March, but analysts said the reaction could be overdone and partially reverse. The inflation rate fell for the first time si
Published 13 Apr, 2011 12:00am
FTSE plummets on commodities

FTSE plummets on commodities

Britain's top share index fell sharply on Tuesday, led by commodity stocks which suffered partly from concerns over the nuclear crisis in Japan and the impact of the earthquake on its economy and also global growth. This dented mining stocks and technolog
Published 13 Apr, 2011 12:00am
Japan woes, earnings doubts spur European stock slide

Japan woes, earnings doubts spur European stock slide

European stocks suffered their biggest one-day fall in a month on Tuesday, with the main indexes breaking below their 50-day moving averages, as Japan's worsening nuclear crisis sparked a bout of profit taking. Alcoa's lower-than-expected revenue figures
Published 13 Apr, 2011 12:00am
Seoul shares retreat

Seoul shares retreat

Seoul shares lost ground on Tuesday on profit-taking after recent run-ups and as foreign investors turned daily net sellers for the first time in nearly a month. The Bank of Korea held the policy interest rate steady on Tuesday, in a widely expected move
Published 13 Apr, 2011 12:00am
Nikkei tumbles

Nikkei tumbles

Tokyo stocks tumbled, dropping for a second straight day on Tuesday, on growing worries that the impact of the March 11 earthquake may be more severe than hoped for and as Japan put its nuclear crisis on par with Chernobyl. Car and electronics makers were
Published 13 Apr, 2011 12:00am
Most South East Asian stocks fall

Most South East Asian stocks fall

Most Southeast Asian stock markets fell in thin volume on Tuesday, with resource shares pulling back in line with receding global oil prices and an interest rate decision in Indonesia weighing on local banking stocks. Sharemarkets saw lacklustre sessions
Published 13 Apr, 2011 12:00am
Australian shares fall

Australian shares fall

Australian stocks racked up their biggest one-day loss in four weeks on Tuesday, tumbling 1.5 percent as mining and energy stocks went into retreat just one day after the market hit a 12-month peak. A decline in oil prices on worries that fuel costs may t
Published 13 Apr, 2011 12:00am
Taiwan stocks down

Taiwan stocks down

Taiwan stocks had their worst day in one month on Tuesday, joining regional bourses in a retreat from risk, with concerns lingering that Japan's massive earthquake will hit the electronics supply chain. The main TAIEX index dropped 1.66 percent or 147.68
Published 13 Apr, 2011 12:00am
Treasuries steady

Treasuries steady

US Treasury debt prices ended steady in light, choppy trading on Monday, signalling investors' reluctance to make big bets as they prepared for $66 billion in new supply. The latest wave of debt comes after the government averted a shutdown this weekend.
Published 13 Apr, 2011 12:00am
Treasuries steady

Treasuries steady

US Treasury debt prices ended steady in light, choppy trading on Monday, signalling investors' reluctance to make big bets as they prepared for $66 billion in new supply. The latest wave of debt comes after the government averted a shutdown this weekend.
Published 13 Apr, 2011 12:00am
Indian markets closed

Indian markets closed

India's stock, financial markets, banks and government offices were closed on Tuesday due to a public holiday.
Published 13 Apr, 2011 12:00am
US stocks fall

US stocks fall

Stocks mostly fell on Monday as energy shares sold off on lower oil prices, and as the earnings season onset was clouded by concern company outlooks may fall short of expectations. Worries that increased raw material costs and the effects from Japan's ear
Published 13 Apr, 2011 12:00am
Tuesday's afternoon trade: Wall Street drops one percent

Tuesday's afternoon trade: Wall Street drops one percent

US stock indices slid 1 percent on Tuesday as oil prices sank and Alcoa's leaner-than-expected revenue started the earnings season on a disappointing note. Energy stocks turned in the worst performance, with the S&P Energy Index losing 3.2 percent alongsi
Published 13 Apr, 2011 12:00am
Hong Kong shares fall, China stocks flat

Hong Kong shares fall, China stocks flat

Tumbling oil and commodity prices weighed on shares of resource companies in Hong Kong and Shanghai on Tuesday, pulling the Hang Seng index down 1.3 percent. Oil's retreat from a 32-month high, triggered in part by a Goldman Sachs report advising clients
Published 13 Apr, 2011 12:00am
Middle East markets: Dubai index hits eight-week high

Middle East markets: Dubai index hits eight-week high

Dubai's index hit an eight-week high on Tuesday on optimism following increased likelihood of UAE bourses gaining emerging market status, while Egypt fell for a fourth day on concerns over the economy. The United Arab Emirates regulator said on Monday bou
Published 13 Apr, 2011 12:00am
IEA warns oil price rally may lead to global slowdown

IEA warns oil price rally may lead to global slowdown

Sky-high oil prices are beginning to dent oil demand growth, the International Energy Agency said on Tuesday, but added prices could ultimately moderate through a global economic slowdown. Its view echoed a report from the International Monetary Fund on M
Published 13 Apr, 2011 12:00am
Opec raises 2011 demand growth forecast

Opec raises 2011 demand growth forecast

The Organisation of Petroleum Exporting Countries (Opec) raised Tuesday its growth forecast for world oil demand in 2011, expecting little import from recent events in Japan and Libya. World oil demand will now grow by 1.39 million barrels per day (bpd),
Published 13 Apr, 2011 12:00am
Malaysia unveils plan to double capital market

Malaysia unveils plan to double capital market

Malaysia on Tuesday unveiled a plan to more than double its capital market size to 4.5 trillion ringgit ($1.5 trillion) by 2020. Prime Minister Najib Razak, who is also the finance minister, said the government will allocate more funds to develop venture
Published 13 Apr, 2011 12:00am
IMF urges US to move quicker to cut debt ratios

IMF urges US to move quicker to cut debt ratios

The International Monetary Fund on Tuesday urged the United States to outline credible measures to reduce its budget deficit, pressuring the White House to detail plans to ratchet down record debt levels. President Barack Obama on Wednesday will offer pro
Published 13 Apr, 2011 12:00am
China, Brazil summit brings trade but no yuan talk

China, Brazil summit brings trade but no yuan talk

Brazilian President Dilma Rousseff avoided the thorny issue of China's currency in a summit with her Chinese counterpart Hu Jintao on Tuesday, but she came away with wider market access and investment pledges that may ease friction between the two emergin
Published 13 Apr, 2011 12:00am
Japan quake's economic impact worse than first feared

Japan quake's economic impact worse than first feared

The economic damage from Japan's massive earthquake and tsunami last month is likely to be worse than first thought as power shortages curtail factory output and disrupt supply chains, the country's economics minister warned on Tuesday. The more sober ass
Published 13 Apr, 2011 12:00am
China willing to buy more Spanish debt, says Wen

China willing to buy more Spanish debt, says Wen

Chinese Premier Wen Jiabao told Spain's visiting prime minister Tuesday that Beijing is ready to buy more Spanish public debt, voicing confidence in Europe's recovery. Prime Minister Jose Luis Rodriguez Zapatero, who will also visit Singapore, is seeking
Published 13 Apr, 2011 12:00am
Fitch downgrades China's yuan debt outlook to 'negative'

Fitch downgrades China's yuan debt outlook to 'negative'

Ratings agency Fitch on Tuesday downgraded its outlook on China's local currency debt rating from "stable" to "negative" as on concerns over a huge rise in potentially destabilising easy credit. Fitch's rating for China's yuan-denominated debt rating curr
Published 13 Apr, 2011 12:00am
US trade gap shrinks

US trade gap shrinks

The US trade deficit shrank in February as a slowdown in demand both at home and abroad hit imports and exports, prompting analysts to scale back their forecasts for US economic growth in early 2011. The trade gap totalled $45.8 billion, down 2.6 percent
Published 13 Apr, 2011 12:00am
US bank regulators propose swap rules

US bank regulators propose swap rules

Energy companies, airlines and other end-users would be mostly exempt from having to put up costly collateral when using uncleared swaps to hedge their business risks, under a proposal issued by US bank regulators on Tuesday. The board of the Federal Depo
Published 13 Apr, 2011 12:00am
Private trading houses resume Libya oil deals

Private trading houses resume Libya oil deals

Libyan oil trade is picking up after weeks of paralysis despite civil war, trade sources told Reuters, saying political support from the West for Libyan rebels was enabling deals. The resumption of exports could provide a vital lifeline to Libyan rebels a
Published 13 Apr, 2011 12:00am
UK inflation fall eases pressure on BoE

UK inflation fall eases pressure on BoE

British inflation eased in March for the first time since last summer as grocers cut food prices, reducing the chance of a Bank of England rate hike in May and giving it leeway to support the still shaky economy. The unexpected drop in annual inflation to
Published 13 Apr, 2011 12:00am
Sri Lanka raises reserve requirement; holds rates

Sri Lanka raises reserve requirement; holds rates

Sri Lanka's central bank on Tuesday held interest rates steady as expected but upped commercial banks' deposit requirement to 8 percent from 7 percent to try and ease potential demand-side inflation. The central bank's first move to cut excess liquidity b
Published 13 Apr, 2011 12:00am
BP's Rosneft deal more uncertain after Sechin quits

BP's Rosneft deal more uncertain after Sechin quits

BP's planned $18 billion tie-up with Russia's Rosneft was looking even more uncertain after chief backer Igor Sechin stood down as Rosneft chairman, and sources said BP faced a new legal challenge. Deputy Prime Minister Sechin resigned his position after
Published 13 Apr, 2011 12:00am
Seeds prices higher on grain market

Seeds prices higher on grain market

Seeds prices were higher on the whole sale grain market on Tuesday as a result of strong demand, dealers said. On the seed side rapeseeds Nawabshah was higher by Rs 100 to Rs 2275-2300, rapeseeds Dadulane also gained Rs 150 to Rs 2100-2150, Mirpurlane als
Published 13 Apr, 2011 12:00am
Activity slightly improves on cotton market

Activity slightly improves on cotton market

Slight improvement was seen on the cotton market on Tuesday as needy mills showed some buying interest to meet their immediate needs, dealers said. Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 12,500, they said. In Sindh and Pun
Published 13 Apr, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 121,004 tonnes of cargo including 78,725 tonnes of import cargo, 42,279 tonnes of export cargo and 5,545 loaded & empty containers during last 24 hours ended at 0700 hours on Tuesday. The total import cargo of 78,725 tonnes compri
Published 13 Apr, 2011 12:00am
US wheat futures pare losses after fall

US wheat futures pare losses after fall

US wheat futures pared losses after falling around 2 percent on Tuesday, while corn lost more than 1 percent, as grains came under pressure from a broad-based commodity selloff. Global share prices slipped while commodity prices tumbled from record peaks
Published 13 Apr, 2011 12:00am
Indonesian cocoa grinders to expand, consume more beans

Indonesian cocoa grinders to expand, consume more beans

Indonesian cocoa grinders expect to process 280,000 tonnes of cocoa beans this year, up about 55 percent from last year, as grinders expand capacity to benefit from a recent tax change on cocoa beans exports, an industry official said on Tuesday. The gove
Published 13 Apr, 2011 12:00am
India's March vegetable oil imports fall by 18 percent

India's March vegetable oil imports fall by 18 percent

India's vegetable oil imports fell by 18 percent in March as a big rapeseed harvest improved domestic supplies, a Reuters survey showed, and the trend should continue next month, putting downward pressure on international prices. Palm oil imports are expe
Published 13 Apr, 2011 12:00am
China to sell three million tonnes of state soya reserves

China to sell three million tonnes of state soya reserves

China, the world's top soya importer, will sell 3 million tonnes of domestic soya from state reserves to some crushers at a below-import price of 3,500 yuan ($535.325) per tonne, part of Beijing's efforts to cool food price rises. But unlike the previous
Published 13 Apr, 2011 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures fell 1.1 percent on Monday, dragged lower by weakness in US soya futures and crude oil that prompted modest selling by local speculators, traders said. Canola volume totalled 12,000 contracts, the lowest in one week, in tight-r
Published 13 Apr, 2011 12:00am
New York cotton

New York cotton

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

Published 13 Apr, 2011 12:00am
New York cotton

New York cotton

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

Published 13 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 13 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 13 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 Tuesday (April 12, 2011).

Published 13 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 Tuesday (April 12, 2011).

Published 13 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 Tuesday (April 12, 2011).

Published 13 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 Tuesday (April 12, 2011).

Published 13 Apr, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (April 12, 2011).
Published 13 Apr, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (April 12, 2011).

Published 13 Apr, 2011 12:00am
Manmohan wants to resolve key issues: Gilani

Manmohan wants to resolve key issues: Gilani

Prime Minister Yousuf Raza Gilani said on Tuesday that Indian prime minister Dr Manmohan Singh is a "sensible and saner" person who really wants Pakistan and India to resolve their important issues. Speaking high of Indian prime minister's intentions to h
Published 13 Apr, 2011 12:00am
Manmohan wants to resolve key issues: Gilani

Manmohan wants to resolve key issues: Gilani

Prime Minister Yousuf Raza Gilani said on Tuesday that Indian prime minister Dr Manmohan Singh is a "sensible and saner" person who really wants Pakistan and India to resolve their important issues. Speaking high of Indian prime minister's intentions to h
Published 13 Apr, 2011 12:00am
Mubarak in intensive care after heart attack

Mubarak in intensive care after heart attack

Ousted Egyptian president Hosni Mubarak was admitted to the intensive care unit in the Red Sea resort of Sharm el-Sheikh, shortly after suffering a heart attack during questioning by prosecutors on Tuesday, state media reported. "Former president Hosni Mu
Published 13 Apr, 2011 12:00am
Mubarak in intensive care after heart attack

Mubarak in intensive care after heart attack

Ousted Egyptian president Hosni Mubarak was admitted to the intensive care unit in the Red Sea resort of Sharm el-Sheikh, shortly after suffering a heart attack during questioning by prosecutors on Tuesday, state media reported. "Former president Hosni Mu
Published 13 Apr, 2011 12:00am
Japan raises nuclear disaster to Chernobyl level

Japan raises nuclear disaster to Chernobyl level

Japan upgraded its month-old nuclear emergency to a maximum seven on an international scale of atomic crises Tuesday, placing it on a par with the Chernobyl disaster a quarter-century ago. The reassessment to a "major accident" with "widespread health and
Published 13 Apr, 2011 12:00am
Japan raises nuclear disaster to Chernobyl level

Japan raises nuclear disaster to Chernobyl level

Japan upgraded its month-old nuclear emergency to a maximum seven on an international scale of atomic crises Tuesday, placing it on a par with the Chernobyl disaster a quarter-century ago. The reassessment to a "major accident" with "widespread health and
Published 13 Apr, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (April 12, 2011).

Published 13 Apr, 2011 12:00am
Reforms need to be reinvigorated: IMF

Reforms need to be reinvigorated: IMF

In a critical assessment of the performance of the economy during the tenure of Finance Minister Hafeez Sheikh, the International Monetary Fund (IMF) in a statement noted that structural reforms moved forward in late 2008 and 2009, (during the tenure of S
Published 13 Apr, 2011 12:00am
Reforms need to be reinvigorated: IMF

Reforms need to be reinvigorated: IMF

In a critical assessment of the performance of the economy during the tenure of Finance Minister Hafeez Sheikh, the International Monetary Fund (IMF) in a statement noted that structural reforms moved forward in late 2008 and 2009, (during the tenure of S
Published 13 Apr, 2011 12:00am
Reforms need to be reinvigorated: IMF

Reforms need to be reinvigorated: IMF

In a critical assessment of the performance of the economy during the tenure of Finance Minister Hafeez Sheikh, the International Monetary Fund (IMF) in a statement noted that structural reforms moved forward in late 2008 and 2009, (during the tenure of S
Published 13 Apr, 2011 12:00am
Zero-rated sectors supplies: reduced ST rate applicable from April 1

Zero-rated sectors supplies: reduced ST rate applicable from April 1

The Federal Board of Revenue on Tuesday announced that reduced sales tax rates of 4-6 percent on the domestic supplies of zero-rated sectors would be applicable from April 1, 2011 and benefit of SRO.283(I)/2011 (reformed sales tax scheme) would not be ava
Published 13 Apr, 2011 12:00am
Zero-rated sectors supplies: reduced ST rate applicable from April 1

Zero-rated sectors supplies: reduced ST rate applicable from April 1

The Federal Board of Revenue on Tuesday announced that reduced sales tax rates of 4-6 percent on the domestic supplies of zero-rated sectors would be applicable from April 1, 2011 and benefit of SRO.283(I)/2011 (reformed sales tax scheme) would not be ava
Published 13 Apr, 2011 12:00am
Zero-rated sectors supplies: reduced ST rate applicable from April 1

Zero-rated sectors supplies: reduced ST rate applicable from April 1

The Federal Board of Revenue on Tuesday announced that reduced sales tax rates of 4-6 percent on the domestic supplies of zero-rated sectors would be applicable from April 1, 2011 and benefit of SRO.283(I)/2011 (reformed sales tax scheme) would not be ava
Published 13 Apr, 2011 12:00am
Zero-rated sectors supplies: reduced ST rate applicable from April 1

Zero-rated sectors supplies: reduced ST rate applicable from April 1

The Federal Board of Revenue on Tuesday announced that reduced sales tax rates of 4-6 percent on the domestic supplies of zero-rated sectors would be applicable from April 1, 2011 and benefit of SRO.283(I)/2011 (reformed sales tax scheme) would not be ava
Published 13 Apr, 2011 12:00am
July-December government spending rises to Rs 1.48 trillion

July-December government spending rises to Rs 1.48 trillion

The government's expenditure posted growth of some 13 percent during first half of current fiscal year mainly due to rising lending, defence and other government spending. The ratio of total expenditures to GDP rose to 8.6 percent in July-December of fisc
Published 13 Apr, 2011 12:00am
July-December government spending rises to Rs 1.48 trillion

July-December government spending rises to Rs 1.48 trillion

The government's expenditure posted growth of some 13 percent during first half of current fiscal year mainly due to rising lending, defence and other government spending. The ratio of total expenditures to GDP rose to 8.6 percent in July-December of fisc
Published 13 Apr, 2011 12:00am
July-December government spending rises to Rs 1.48 trillion

July-December government spending rises to Rs 1.48 trillion

The government''s expenditure posted growth of some 13 percent during first half of current fiscal year mainly due to rising lending, defence and other government spending. The ratio of total expenditures to GDP rose to 8.6 percent in July-December of fis
Published 13 Apr, 2011 12:00am
Index sheds 72.68 points

Index sheds 72.68 points

Bearish trend was witnessed at Karachi share market on Tuesday and the index declined by 72.68 points to close at the level of 11,796.09 points. Trading remained extremely low and the volume at ready counter declined to 50.592 million as compared to 58.47
Published 13 Apr, 2011 12:00am
Index sheds 72.68 points

Index sheds 72.68 points

Bearish trend was witnessed at Karachi share market on Tuesday and the index declined by 72.68 points to close at the level of 11,796.09 points. Trading remained extremely low and the volume at ready counter declined to 50.592 million as compared to 58.47
Published 13 Apr, 2011 12:00am
Index sheds 72.68 points

Index sheds 72.68 points

Bearish trend was witnessed at Karachi share market on Tuesday and the index declined by 72.68 points to close at the level of 11,796.09 points. Trading remained extremely low and the volume at ready counter declined to 50.592 million as compared to 58.47
Published 13 Apr, 2011 12:00am
BRIndex30 loses 58.42 points

BRIndex30 loses 58.42 points

On Tuesday, the BRIndex30 opened at 8,845.59 points and remained in negative for most of the trading session except for around first fifteen minutes. It touched the intra-day high of 8,875.97 points and low of 8,783.74 points and closed at 8,787.17 points
Published 13 Apr, 2011 12:00am
BRIndex30 loses 58.42 points

BRIndex30 loses 58.42 points

On Tuesday, the BRIndex30 opened at 8,845.59 points and remained in negative for most of the trading session except for around first fifteen minutes. It touched the intra-day high of 8,875.97 points and low of 8,783.74 points and closed at 8,787.17 points
Published 13 Apr, 2011 12:00am
Steel melters seek cut in turnover tax, end to WHT

Steel melters seek cut in turnover tax, end to WHT

The Pakistan Steel Melters Association (PSMA) has asked the Federal Board of Revenue (FBR) to reduce turnover tax from one percent to 0.2 percent keeping in view low profits of the industry and withdraw 3.5 percent withholding tax on local purchases in th
Published 13 Apr, 2011 12:00am
Steel melters seek cut in turnover tax, end to WHT

Steel melters seek cut in turnover tax, end to WHT

The Pakistan Steel Melters Association (PSMA) has asked the Federal Board of Revenue (FBR) to reduce turnover tax from one percent to 0.2 percent keeping in view low profits of the industry and withdraw 3.5 percent withholding tax on local purchases in th
Published 13 Apr, 2011 12:00am
Steel melters seek cut in turnover tax, end to WHT

Steel melters seek cut in turnover tax, end to WHT

The Pakistan Steel Melters Association (PSMA) has asked the Federal Board of Revenue (FBR) to reduce turnover tax from one percent to 0.2 percent keeping in view low profits of the industry and withdraw 3.5 percent withholding tax on local purchases in th
Published 13 Apr, 2011 12:00am
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