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Archive - 2011-04-15
Aston Martin launches in India
Top News

Aston Martin launches in India

MUMBAI: British luxury sports car maker Aston Martin on Friday announced its entry into India, one of the world's fastes
Published 15 Apr, 2011 09:21pm
Gilani saddened over Babbu Baral's death
Top News

Gilani saddened over Babbu Baral's death

ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani Saturday expressed his grief and sorrow over the death of popular stag
Published 15 Apr, 2011 07:00pm
120MW Taunsa power project approved
Top News

120MW Taunsa power project approved

LAHORE: Punjab Chief Minister Muhammad Shahbaz Sharif presiding over a meeting of the provincial cabinet on Saturday app
Published 15 Apr, 2011 07:00pm
Syria's emergency law to end: Assad
Top News

Syria's emergency law to end: Assad

DAMASCUS: President Bashar al-Assad said on Saturday the emergency law in force in Syria for nearly 50 years will be abo
Published 15 Apr, 2011 04:58pm
Census deadline likely to be extended
Top News

Census deadline likely to be extended

KARACHI: Date for listing of houses in the province during the ongoing census is likely to be extended by 7 to 10 days.
Published 15 Apr, 2011 02:20pm
Most CNG stations to open despite strike
Top News

Most CNG stations to open despite strike

KARACHI: The majority of CNG stations went against the ongoing strike and resumed their business despite the warning of
Published 15 Apr, 2011 01:33pm
Debt worries roil markets
Financial

Debt worries roil markets

LONDON: The euro fell against the dollar, European stock markets diverged and the price of gold struck a record high on
Published 15 Apr, 2011 01:12pm
Hong Kong stocks end flat
Financial

Hong Kong stocks end flat

HONG KONG: Hong Kong shares ended flat in cautious trade on Friday after China said inflation had soared to a 32-month h
Published 15 Apr, 2011 10:42am
SBP conducts OMO
Top News

SBP conducts OMO

KARACHI: State Bank of Pakistan (SBP), Friday conducted reverse repo Open Market Operation in Market Treasury bills and
Published 15 Apr, 2011 10:38am
China vows to promote balanced trade
Top News

China vows to promote balanced trade

BOAO: President Hu Jintao vowed Friday to promote balanced trade by boosting domestic demand and imports -- but he did n
Published 15 Apr, 2011 07:06am
China says first quarter growth at 9.7pc
Top News

China says first quarter growth at 9.7pc

BEIJING: China said Friday its economy grew at a robust but slightly slower pace in the first quarter of 2011 while infl
Published 15 Apr, 2011 04:29am
Sharing for Growth
BR Research

Sharing for Growth

Mobile Network Operators (MNO) have witnessed phenomenal growth since the turn of the millennium. According to the Pakistan Telecommunicatio
Published 15 Apr, 2011 12:00am
US MIDDAY: copper down

US MIDDAY: copper down

Copper closed down for a fourth consecutive day on Thursday, hitting its lowest in more than a week, as rising inflation pressures in top-consumer China continued to muddy shorter-term demand prospects. COMEX May copper settled with a 1.05-cent loss at $4
Published 15 Apr, 2011 12:00am
US MIDDAY: grains tumble

US MIDDAY: grains tumble

US grain markets fell on Thursday, with wheat tumbling to a two-week low as investors banked profits and forecasts for rain in drought-hit areas of the US Plains rattled the wheat market. In contrast, rains in the US Corn Belt posed a threat to spring cor
Published 15 Apr, 2011 12:00am
US MIDDAY: sugar plunges

US MIDDAY: sugar plunges

US cocoa futures settled up nearly 2 percent on Thursday, on chart-based buying and following positive European demand data. Raw sugar closed at a six-month low as supply availability was perceived as improving, while arabica coffee futures saw a strong s
Published 15 Apr, 2011 12:00am
Gold climbs in Europe

Gold climbs in Europe

Gold prices climbed back above $1,460 an ounce on Thursday and silver also rose after US data showing an unexpected jump in jobless claims last week knocked the dollar. The precious metals came under pressure in earlier trade as speculation that some euro
Published 15 Apr, 2011 12:00am
Gold rises in Asia

Gold rises in Asia

Gold rose for a second day on Thursday as the US dollar fell to a 16-month low against a basket of currencies on expectations the Federal Reserve will lag global central banks in raising interest rates. Bullion held within $20 of the record high of $1,476
Published 15 Apr, 2011 12:00am
US gold recovers

US gold recovers

Gold rose on Wednesday, recovering from its biggest one-day drop in nearly a month, boosted by the dollar's early fall on expectations the US Federal Reserve will maintain a loose monetary policy despite signs of price pressures. Spot gold was at $1,457.3
Published 15 Apr, 2011 12:00am
Liffe cocoa soars

Liffe cocoa soars

Liffe July cocoa closed 14 pounds higher at 1,960 pounds a tonne as first quarter European cocoa grindings rose 3.5 percent, at the higher end of expectations. Liffe May white sugar rose $5.80 to close at $697.20 a tonne. Prices were mixed as improved Tha
Published 15 Apr, 2011 12:00am
US soyabeans higher

US soyabeans higher

US soyabean futures ended slightly higher on Wednesday, bolstered by an upside correction following a broad-based sell-off in Tuesday following a recommendation by Goldman Sachs to book profits, traders said. May soya was up 3-3/4 at $13.33-1/2. Given pro
Published 15 Apr, 2011 12:00am
New York cocoa climbs

New York cocoa climbs

Cocoa futures climbed on Wednesday due to worries about possible disruptions to the mid-crop harvest in Ivory Coast even as cocoa exports were set to resume from the world's top grower after months of political turmoil. Coffee futures also rose, with arab
Published 15 Apr, 2011 12:00am
Malaysian palm oil stays lower

Malaysian palm oil stays lower

Malaysian palm oil notched a third-straight day of declines on Thursday as comparative oil prices such as soybean and crude weighed and investors eyed export data due later this week. The benchmark June crude palm oil contract on the Bursa Malaysia Deriva
Published 15 Apr, 2011 12:00am
Tokyo rubber futures slip

Tokyo rubber futures slip

Key Tokyo rubber futures fell for a third consecutive session on Thursday as recent sharp rises made investors cautious, but some analysts expect the market to find support at 420 yen with technicals showing a long-term uptrend. The key Tokyo Commodity Ex
Published 15 Apr, 2011 12:00am
US crude rises

US crude rises

US crude oil futures rose on Thursday, reversing early losses as a weaker dollar offset worries that lofty prices would erode demand. The dollar fell after US data showed an unexpected rise in jobless claims and an increase in producer prices in March. "W
Published 15 Apr, 2011 12:00am
Copper tumbles

Copper tumbles

Copper fell to its lowest in more than a week on Thursday, as reports of quickening inflation in top consumer China pointed to more monetary tightening, which investors worried would hit demand for industrial metals. Also pressuring industrial metals, US
Published 15 Apr, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

Shanghai copper fell more than 1 percent on Thursday, while prices headed down for a third-straight session in London, as investors worried about further tightening policies from China on talk of high March inflation numbers. Shanghai's most-active copper
Published 15 Apr, 2011 12:00am
US copper ends lower

US copper ends lower

Copper ended down for a third consecutive day on Wednesday, reacting to a firmer dollar and calls for more inflation-fighting controls in top consumer China. Copper's losses accelerated, even as other commodity markets sought to put a floor under a two-da
Published 15 Apr, 2011 12:00am
New York cotton remains lower

New York cotton remains lower

US cotton futures ended down for a third straight session on Thursday, under pressure from a disappointing weekly export sales report. The key May cotton contract on ICE Futures US fell 1.31 cents to settle at $1.9604 per lb, after dealing from a near two
Published 15 Apr, 2011 12:00am
Aisam, Rohan reach Monte Carlo quarters

Aisam, Rohan reach Monte Carlo quarters

Pak-Indian tennis duo of Aisam-ul-Haq and Rohan Bopanna effectively prevailed upon American Eric Butorac and his partner Roger Julien 7-6 (7/4),6-3 in the pre-quarters finals of ATP Masters Tennis Championship in Monte Carlo on Thursday. This is the year'
Published 15 Apr, 2011 12:00am
Aisam again calls for India peace match

Aisam again calls for India peace match

Pakistan tennis star Aisam-ul-Haq Qureshi has resumed calls for a peace match on the Indian border to foster reconciliation efforts between the two South Asian rivals. Qureshi, whose doubles pairing with Indian star Rohan Bopanna has been dubbed the "Indo
Published 15 Apr, 2011 12:00am
Women Football Club Championship begins

Women Football Club Championship begins

Frontier College, which earned surprise quarter-final spot in last year's 6th National Women Championship on maiden appearance, will take on Striker Club on Friday (today) when the fourth edition of National Women Football Club Championship 2011 will comm
Published 15 Apr, 2011 12:00am
We will look to improve our rankings in West Indies tour: Afridi

We will look to improve our rankings in West Indies tour: Afridi

Pakistan cricket team captain Shahid Afridi Thursday said that his side would be looking for series triumph against host West Indies and lift their rankings. "Although we recorded a ten-wicket win over West Indies in World Cup quarterfinals but it would n
Published 15 Apr, 2011 12:00am
Trio jailed in German betting scandal trial

Trio jailed in German betting scandal trial

Three of the gang at the heart of one of the biggest betting scandals to hit European football were jailed for up to nearly four years for fraud by a court in Bochum, Germany on Thursday. During the six-month trial, the court heard how the trio manipulate
Published 15 Apr, 2011 12:00am
Gayle, Chanderpaul, Sarwan dropped for two ODIs

Gayle, Chanderpaul, Sarwan dropped for two ODIs

The West Indies have dropped experienced batting trio Chris Gayle, Shivnarine Chanderpaul and Ramnaresh Sarwan for the upcoming one-day internationals against Pakistan. A statement from the West Indies Cricket Board said the trio had been left out of squa
Published 15 Apr, 2011 12:00am
Pakistan cricket team awarded 'PIA Diamond Cards'

Pakistan cricket team awarded 'PIA Diamond Cards'

A dinner was hosted in the honour of Pakistan cricket team by Pakistan International Airline (PIA) Speaking on the occasion, Managing Director PIA, Nadeem Khan Yousufzai said PIA has always supported sports in Pakistan and will continue to play its role f
Published 15 Apr, 2011 12:00am
Tajikistan, Afghanistan handball teams arrive

Tajikistan, Afghanistan handball teams arrive

The men handball teams of Tajikistan and Afghanistan were received at Pak-Afghan border Torkham by the officials of Khyber Pakhtunkhwa Handball Association on an eight-day tour. Associate Secretary of the Pakistan Handball Federation Bahre Karam along wit
Published 15 Apr, 2011 12:00am
Swiss franc rises versus dollar

Swiss franc rises versus dollar

The Swiss franc on Thursday hit its highest point against the dollar since last month but it may weaken as it emerges once more as investors' favoured currency for funding carry trades. The franc rose 0.4 against the dollar compared to the New York close,
Published 15 Apr, 2011 12:00am
Sterling gains versus euro

Sterling gains versus euro

Sterling rose against the euro on Thursday as investors dumped the single currency on speculation Greece may have to restructure its debts, pushing it towards key technical support. Traders said a lack of major UK economic data meant sterling was being dr
Published 15 Apr, 2011 12:00am
Yuan hits fresh all-time high

Yuan hits fresh all-time high

The yuan hit a fresh trading peak against the dollar on Thursday, testing a level stronger than 6.53 for the first time, after the People's Bank of China fixed another record high yuan mid-point as the government uses the currency to help fight imported i
Published 15 Apr, 2011 12:00am
Singapore dollar hits all-time high

Singapore dollar hits all-time high

The Singapore dollar hit a record high against the dollar on Thursday as the central bank tightened policy amid continuous signs of robust growth in Asia, helping a rebound in its peers and cementing views that regional authorities will keep making anti-i
Published 15 Apr, 2011 12:00am
Australian and New Zealand dollars rise

Australian and New Zealand dollars rise

The Australian and kiwi dollars gained some traction on Thursday as signs key Asian economies are on track for solid growth offset worries of a slowdown following Japan's massive earthquake last month. The Aussie jumped as far as $1.0545, from $1.0503 in
Published 15 Apr, 2011 12:00am
Dollar buoyed by Obama cuts

Dollar buoyed by Obama cuts

The US dollar gained against the euro on Wednesday after President Barack Obama set a goal to cut the US budget deficit, but it failed to reverse bearish sentiment driven by unfavourable interest rate differentials. Obama set a goal of cutting the US budg
Published 15 Apr, 2011 12:00am
Midday trade in New York: dollar slides across the board

Midday trade in New York: dollar slides across the board

The dollar fell on Thursday in choppy trading and further losses were seen as likely, hurt by reported central bank selling amid a backdrop of low US interest rates that were not expected to rise any time soon. Recent US economic numbers, including jobles
Published 15 Apr, 2011 12:00am
Euro falls versus dollar in London

Euro falls versus dollar in London

The euro turned lower against the dollar on Thursday, dented by speculation that Greece and possibly Ireland may be forced to restructure their massive debts, pushing peripheral eurozone bond yields higher. Re-emerging concerns about debt problems in peri
Published 15 Apr, 2011 12:00am
Dollar hits fresh 16-month low in Asia

Dollar hits fresh 16-month low in Asia

The dollar hit a fresh 16-month low against a basket of currencies on Thursday as expectations grew the Federal Reserve would keep its loose monetary policy, widening interest rate differentials in favour of higher-yielding currencies. In flow-driven trad
Published 15 Apr, 2011 12:00am
Money markets: Spanish banks' ECB dependence may ease further

Money markets: Spanish banks' ECB dependence may ease further

Spanish banks' reliance on ECB funding may fall further from 3-year lows in the near term as stress in the money markets showed little signs of intensifying despite growing talk of a possible Greek debt restructuring. Data on Tuesday showed Spanish banks
Published 15 Apr, 2011 12:00am
UK's top share index falls

UK's top share index falls

Britain's top share index fell on Thursday, led by Reckitt Benckiser after the company said its chief executive was retiring, and with banks weaker on renewed worries about sovereign debt levels. The FTSE 100 fell 46.64 points, or 0.8 percent, to 5,963.80
Published 15 Apr, 2011 12:00am
Inflation concerns hit European shares

Inflation concerns hit European shares

European shares fell on Thursday on worries about higher global inflation as well as a weakening US jobs market, while concerns about Greek debt hit banking stocks. Investors were also positioned cautiously ahead of Google results, which are scheduled to
Published 15 Apr, 2011 12:00am
Australian shares down

Australian shares down

Australian shares fell 0.5 percent on Thursday to their lowest close in 9 days as major miners came under pressure and Leighton Holdings plunged after it flagged a full-year loss and raised capital to plug a hole in its balance sheet. The underlying S&P/A
Published 15 Apr, 2011 12:00am
Tokyo stocks gain

Tokyo stocks gain

Japan's Nikkei average inched up on Thursday but stayed in a narrow range as investors awaited earnings, while Isuzu Motors jumped on a report that Volkswagen was considering buying all or part of the Japanese truckmaker. Isuzu climbed 6.2 percent to 310
Published 15 Apr, 2011 12:00am
Hong Kong and China stocks dip

Hong Kong and China stocks dip

Hong Kong and China shares fell on Thursday on fears Chinese inflation in March quickened faster than expected, sparking concerns of a possible further increase in the reserve requirement for mainland banks. Mainland banking shares dragged down the Hang S
Published 15 Apr, 2011 12:00am
South East Asian stocks mostly lower

South East Asian stocks mostly lower

Most Southeast Asian stock markets fell in choppy trade on Thursday on fears that Beijing will tighten monetary policy further after reports that inflation in China acceleratedd more than expected in March March inflation accelerated to a 32-month high of
Published 15 Apr, 2011 12:00am
Treasuries rise

Treasuries rise

Thirty-year bonds yields may need to rise to attract investors to a $13 billion auction of the long bonds on Thursday, after Wednesday's sale of 10-year notes priced at a slight concession. A continuing squeeze on very short-dated debt, meanwhile, sent th
Published 15 Apr, 2011 12:00am
Treasuries rise

Treasuries rise

Thirty-year bonds yields may need to rise to attract investors to a $13 billion auction of the long bonds on Thursday, after Wednesday's sale of 10-year notes priced at a slight concession. A continuing squeeze on very short-dated debt, meanwhile, sent th
Published 15 Apr, 2011 12:00am
Taiwan stocks up

Taiwan stocks up

Taiwan stocks ended up 0.26 percent on Thursday, led by gains in glass and cement makers including Taiwan Cement amid hopes they will benefit from improving business ties with China and the mainland's strong economic growth. Hon Hai Precision rose 1.9 per
Published 15 Apr, 2011 12:00am
US stocks mostly flat

US stocks mostly flat

US stocks finished mostly flat in a choppy session on Wednesday, as investors bet on strong technology earnings even as J.P. Morgan Chase's numbers weighed on other market sectors. Network equipment maker Riverbed Technology Inc boosted the industry and h
Published 15 Apr, 2011 12:00am
Thursday's afternoon trade: Goldman drags on S&P

Thursday's afternoon trade: Goldman drags on S&P

US stocks slipped on Thursday as Goldman Sachs pulled financials lower and an unexpected rise in jobless claims added to bearish sentiment that put the S&P on track for its fifth day of losses in six. Concerns about higher inflation overseas pushed invest
Published 15 Apr, 2011 12:00am
Seoul shares post fresh historical high

Seoul shares post fresh historical high

Seoul shares posted a fresh historical closing high on Thursday after volatile trade, despite concerns of a selloff with options expiry on the day. The Korea Composite Stock Price Index finished up 0.9 percent at 2,141.06 points. The KOSPI 200 June future
Published 15 Apr, 2011 12:00am
Middle East markets: Dubai index at 11-week high

Middle East markets: Dubai index at 11-week high

UAE markets rallied on Thursday with Dubai's index on an 11-week high as investors buy into the country's political safe haven status and bullish first-quarter results. Dubai's benchmark gained 1.4 percent, its highest close since January 26. Gain were se
Published 15 Apr, 2011 12:00am
China's Wen vows to increase yuan flexibility to curb inflation

China's Wen vows to increase yuan flexibility to curb inflation

China should make its currency more flexible to help rein in price rises driven by imported inflation, Chinese Premier Wen Jiabao said in remarks published by the official Xinhua news agency on Thursday. Wen's comments appeared to reinforce market expecta
Published 15 Apr, 2011 12:00am
Glencore seeks up to $12.1 billion in IPO

Glencore seeks up to $12.1 billion in IPO

Top commodity trader Glencore aims to raise up to $12.1 billion with a dual listing that will boost firepower for deals at the height of a resources boom and make paper fortunes for its publicity-shy partners. The long-awaited details of the offer, set to
Published 15 Apr, 2011 12:00am
Singapore tightens monetary policy on solid growth

Singapore tightens monetary policy on solid growth

Singapore tightened its monetary policy on Thursday, becoming the latest Asian economy to adopt strong measures to curb inflation this year after first-quarter annual growth of 8.5 percent. The Monetary Authority of Singapore (MAS), the central bank, said
Published 15 Apr, 2011 12:00am
G20 eyes anti-crisis plan, mulls recovery risks

G20 eyes anti-crisis plan, mulls recovery risks

The United States tried to instill confidence on Thursday that the global recovery was not at risk as global finance chiefs gathered to advance a plan to prevent future economic crises. Finance ministers and central bankers from the Group of 20 rich and e
Published 15 Apr, 2011 12:00am
ECB lays ground for next hike, talks tough on debt

ECB lays ground for next hike, talks tough on debt

Top ECB policymakers sent fresh warnings about rising eurozone inflation risks on Thursday, with one likening the current economic situation to that at the start of the bank's last rate hike cycle in 2005. The ECB raised rates to 1.25 percent last Thursda
Published 15 Apr, 2011 12:00am
Ford recalls 1.2 million pick-up trucks

Ford recalls 1.2 million pick-up trucks

Ford recalled 1.2 million pick-up trucks in the United States on Thursday after finding a problem with the vehicles' airbag system. The US firm said a wiring fault could cause the airbag warning lamp to turn on and the airbag to deploy. "We urge all of ou
Published 15 Apr, 2011 12:00am
India, Iran seeking to settle oil payments in non-euro

India, Iran seeking to settle oil payments in non-euro

India and Iran are talking to non-euro countries and territories to settle payments for Iranian oil imports to the Asian nation, a senior Indian government official told Reuters on Thursday. The official, who did not want to be named because of the sensit
Published 15 Apr, 2011 12:00am
China forex reserves soar past $3 trillion

China forex reserves soar past $3 trillion

China's foreign exchange reserves soared to a record of more than $3 trillion by end-March, while its money supply growth blew past forecasts, threatening to aggravate the nation's inflation woes and trigger more policy tightening. Chinese banks extended
Published 15 Apr, 2011 12:00am
Japanese firms hit by supply woes

Japanese firms hit by supply woes

The earthquake and tsunami that devastated Japan and triggered a nuclear crisis have negatively affected nearly 60 percent of Japanese companies, disrupting production and supply chains, a Reuters poll showed on Thursday. While manufacturers were hit espe
Published 15 Apr, 2011 12:00am
Eurozone hit by Greek restructuring worry

Eurozone hit by Greek restructuring worry

Greek borrowing costs surged to new highs on Thursday and pressure rose on other financially weak eurozone countries after Germany suggested for the first time that Athens may need to restructure its massive debt load.
Published 15 Apr, 2011 12:00am
Moody's downgrades China's property sector

Moody's downgrades China's property sector

Moody's Investors Service on Thursday downgraded China's property sector to "negative" from "stable" as it warned that rising interest rates and reduced bank lending would dampen demand. It also said Beijing's policy moves to tame soaring inflation and wa
Published 15 Apr, 2011 12:00am
Food prices in 'danger zone': World Bank chief

Food prices in 'danger zone': World Bank chief

World Bank president Robert Zoellick warned Thursday that rising food prices have reached dangerous heights that pose the biggest threat to the world's poor. "We are in a danger zone because prices have already gone up; stocks for many commodities are rel
Published 15 Apr, 2011 12:00am
Obama launches hard sell on deficit plan

Obama launches hard sell on deficit plan

US President Barack Obama Thursday won an endorsement of his 4-trillion-dollar deficit plan from the men who led a bipartisan fiscal commission, amid a building row with Republicans. Obama and other White House officials mounted a strong push to win accep
Published 15 Apr, 2011 12:00am
IMF chief applauds Obama deficit plan

IMF chief applauds Obama deficit plan

The head of the International Monetary Fund on Thursday applauded US President Barack Obama's ambitious plan to slash the US government's huge deficit and debt burden. IMF managing director Dominique Strauss-Kahn called the need for advanced countries to
Published 15 Apr, 2011 12:00am
US core producer prices, jobless claims rise

US core producer prices, jobless claims rise

Prices paid by US factories picked up pace in March as the disruption caused by Japan's earthquake began to be felt in the auto industry and fuel prices rose strongly. Another report on Thursday showed a surprise jump in US jobless claims that raised some
Published 15 Apr, 2011 12:00am
Indonesia family sues Citibank over customer death

Indonesia family sues Citibank over customer death

The family of a Indonesian politician who died at one of Citibank's branches Thursday filed a three trillion rupiah ($348 million) lawsuit against the bank's US headquarters, a lawyer said. "We filed a lawsuit at the Central Jakarta Court this morning aga
Published 15 Apr, 2011 12:00am
US to 'protect interests' in WTO Boeing ruling

US to 'protect interests' in WTO Boeing ruling

The US Trade Representative left little doubt on Thursday that the Obama administration would appeal a World Trade Organisation ruling that Boeing received illegal government subsidies. Ron Kirk promised to "protect our interests" when asked on the sideli
Published 15 Apr, 2011 12:00am
McDonald's LatAm franchisee rises 27 percent in debut

McDonald's LatAm franchisee rises 27 percent in debut

Shares of Arcos Dorados Holdings Inc, a large South American franchisee of fast-food chain McDonald's Corp, rose 27 percent in their stock market debut as investors clamored for exposure to the famous brand in a region with booming consumer spending.
Published 15 Apr, 2011 12:00am
Cotton prices enter bearish phase

Cotton prices enter bearish phase

Bearish sentiment has engulfed the cotton markets both here and abroad as the hey-day of the record - setting phase of cotton prices presently appears to be over. The scintillating callisthenics of the cotton prices since the beginning of the season, both
Published 15 Apr, 2011 12:00am
Cotton prices enter bearish phase

Cotton prices enter bearish phase

Bearish sentiment has engulfed the cotton markets both here and abroad as the hey-day of the record - setting phase of cotton prices presently appears to be over. The scintillating callisthenics of the cotton prices since the beginning of the season, both
Published 15 Apr, 2011 12:00am
Ginners lower asking prices as cotton demand falls worldover

Ginners lower asking prices as cotton demand falls worldover

Unfavourable circumstances, forced the ginners to bring down the asking prices on the cotton market on Thursday, dealers said. Karachi Cotton Association (KCA) official spot rate was inert at Rs 12,000, they said. In Sindh and Punjab phutti price of low t
Published 15 Apr, 2011 12:00am
Oil cake market rates

Oil cake market rates

The May vaida was up and July contract was inert on the forward cottonseed oilcake market on Thursday in process of trading, dealers said. The May vaida that had closed at Rs 1328.80 opened with a gain of 50 paisa at Rs 1329.30. The July contract which cl
Published 15 Apr, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 74,802 tonnes of cargo including 51,042 tonnes of import cargo, 23,760 tonnes of export cargo and 4,830 loaded & empty containers during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 51,042 tonnes compri
Published 15 Apr, 2011 12:00am
Bullish trend persists on grain market

Bullish trend persists on grain market

Bullish trend was again witnessed on the wholesales grain market on Thursday in process of modest trading, dealers said. On the grams side yellow peas gained Rs 50 to Rs 3650-5850, yellow peas Canada dal picked up the same amount at Rs 4050-4350, yellow p
Published 15 Apr, 2011 12:00am
Plastic mouldings up on Jodia Bazar

Plastic mouldings up on Jodia Bazar

The trading in plastic moulding compounds ended up on Jodia Bazar here on Thursday. The following variations were noted.
Published 15 Apr, 2011 12:00am
Indonesia reintroduces import duty on rice

Indonesia reintroduces import duty on rice

Indonesia reintroduced an import duty on rice on April 1, after suspending it for nearly four months, as import permits for the grain expired at the end of March, the finance ministry said in a statement on Thursday. The import duty for rice and rice flou
Published 15 Apr, 2011 12:00am
US Midwest corn and soya bids mostly flat

US Midwest corn and soya bids mostly flat

Spot basis bids for corn and soyabeans were mostly flat in the US Midwest interior on Wednesday after firming earlier this week amid quiet country selling, dealers said. Grain sales were thin as farmers in some areas, including the western Corn Belt, work
Published 15 Apr, 2011 12:00am
Vietnam's rice prices rise, major harvest nearing an end

Vietnam's rice prices rise, major harvest nearing an end

Vietnam's rice export prices rose as much as 6.6 percent in the past week despite ample supplies, as the harvest of the country's top rice crop was nearing an end while loading demand held firm for existing contracts, traders said on Wednesday.
Published 15 Apr, 2011 12:00am
BRICS leaders for global monetary shake-up

BRICS leaders for global monetary shake-up

The BRICS group of emerging-market powers kept up the pressure on Thursday for a revamped global monetary system that relies less on the dollar and for a louder voice in international financial institutions. The leaders of Brazil, Russia, India, China and
Published 15 Apr, 2011 12:00am
New York cotton

New York cotton

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

Published 15 Apr, 2011 12:00am
BRICS leaders for global monetary shake-up

BRICS leaders for global monetary shake-up

The BRICS group of emerging-market powers kept up the pressure on Thursday for a revamped global monetary system that relies less on the dollar and for a louder voice in international financial institutions. The leaders of Brazil, Russia, India, China and
Published 15 Apr, 2011 12:00am
New York cotton

New York cotton

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

Published 15 Apr, 2011 12:00am
BRICS leaders for global monetary shake-up

BRICS leaders for global monetary shake-up

The BRICS group of emerging-market powers kept up the pressure on Thursday for a revamped global monetary system that relies less on the dollar and for a louder voice in international financial institutions. The leaders of Brazil, Russia, India, China and
Published 15 Apr, 2011 12:00am
Infrastructure damaged by floods: ADB decides to invest $650 million

Infrastructure damaged by floods: ADB decides to invest $650 million

The Asian Development Bank (ADB) has decided to invest $650 million in reconstruction of vital infrastructure damaged by the last year's devastating floods in Pakistan. This was announced by Hassan Nawaz Tarar, Additional Secretary of Economic Affairs Div
Published 15 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 15 Apr, 2011 12:00am
Infrastructure damaged by floods: ADB decides to invest $650 million

Infrastructure damaged by floods: ADB decides to invest $650 million

The Asian Development Bank (ADB) has decided to invest $650 million in reconstruction of vital infrastructure damaged by the last year's devastating floods in Pakistan. This was announced by Hassan Nawaz Tarar, Additional Secretary of Economic Affairs Div
Published 15 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 15 Apr, 2011 12:00am
Infrastructure damaged by floods: ADB decides to invest $650 million

Infrastructure damaged by floods: ADB decides to invest $650 million

The Asian Development Bank (ADB) has decided to invest $650 million in reconstruction of vital infrastructure damaged by the last year''s devastating floods in Pakistan. This was announced by Hassan Nawaz Tarar, Additional Secretary of Economic Affairs Di
Published 15 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 Thursday (April 14, 2011).

Published 15 Apr, 2011 12:00am
Wapda suffered Rs five billion, Pepco Rs three billion losses

Wapda suffered Rs five billion, Pepco Rs three billion losses

Wapda suffered loss to the tune of Rs 5425.384 million while Pepco Rs 3324.436 million during the floods of 2010 and the government would construct 32 medium dams during next five years for power generation, irrigation and to minimise losses in future.
Published 15 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 Thursday (April 14, 2011).

Published 15 Apr, 2011 12:00am
Wapda suffered Rs five billion, Pepco Rs three billion losses

Wapda suffered Rs five billion, Pepco Rs three billion losses

Wapda suffered loss to the tune of Rs 5425.384 million while Pepco Rs 3324.436 million during the floods of 2010 and the government would construct 32 medium dams during next five years for power generation, irrigation and to minimise losses in future.
Published 15 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 Thursday (April 14, 2011).

Published 15 Apr, 2011 12:00am
Wapda suffered Rs five billion, Pepco Rs three billion losses

Wapda suffered Rs five billion, Pepco Rs three billion losses

Wapda suffered loss to the tune of Rs 5425.384 million while Pepco Rs 3324.436 million during the floods of 2010 and the government would construct 32 medium dams during next five years for power generation, irrigation and to minimise losses in future.
Published 15 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 Thursday (April 14, 2011).

Published 15 Apr, 2011 12:00am
FBR collects Rs 1,050 billion during July-April

FBR collects Rs 1,050 billion during July-April

The Federal Board of Revenue (FBR) has provisionally collected around Rs 1,050 billion during July-April (2010-2011) against the downward revised annual target of Rs 1,588 billion, reflecting a shortfall of Rs 538 billion. Sources told Business Recorde
Published 15 Apr, 2011 12:00am
FBR collects Rs 1,050 billion during July-April

FBR collects Rs 1,050 billion during July-April

The Federal Board of Revenue (FBR) has provisionally collected around Rs 1,050 billion during July-April (2010-2011) against the downward revised annual target of Rs 1,588 billion, reflecting a shortfall of Rs 538 billion. Sources told Business Recorde
Published 15 Apr, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (April 14, 2011).
Published 15 Apr, 2011 12:00am
FBR collects Rs 1,050 billion during July-April

FBR collects Rs 1,050 billion during July-April

The Federal Board of Revenue (FBR) has provisionally collected around Rs 1,050 billion during July-April (2010-2011) against the downward revised annual target of Rs 1,588 billion, reflecting a shortfall of Rs 538 billion. Sources told Business Recorde
Published 15 Apr, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (April 14, 2011).

Published 15 Apr, 2011 12:00am
Huge revenue loss imminent: if legal proceedings not completed

Huge revenue loss imminent: if legal proceedings not completed

The Federal Board of Revenue may suffer huge loss if the tax machinery fails to complete legal proceedings in thousands of cases which would become time-barred by June 30, 2011 and recovery would not be possible in such cases. In this connection, the FBR
Published 15 Apr, 2011 12:00am
Huge revenue loss imminent: if legal proceedings not completed

Huge revenue loss imminent: if legal proceedings not completed

The Federal Board of Revenue may suffer huge loss if the tax machinery fails to complete legal proceedings in thousands of cases which would become time-barred by June 30, 2011 and recovery would not be possible in such cases. In this connection, the FBR
Published 15 Apr, 2011 12:00am
Huge revenue loss imminent: if legal proceedings not completed

Huge revenue loss imminent: if legal proceedings not completed

The Federal Board of Revenue may suffer huge loss if the tax machinery fails to complete legal proceedings in thousands of cases which would become time-barred by June 30, 2011 and recovery would not be possible in such cases. In this connection, the FBR
Published 15 Apr, 2011 12:00am
July-March FDI down 28 percent

July-March FDI down 28 percent

The Foreign Direct Investment (FDI) has slumped by 28 percent during the first nine months of current fiscal year mainly due to energy shortfall and an adverse law & order situation related to the fight against extremism. Although, the FDI has crossed one
Published 15 Apr, 2011 12:00am
July-March FDI down 28 percent

July-March FDI down 28 percent

The Foreign Direct Investment (FDI) has slumped by 28 percent during the first nine months of current fiscal year mainly due to energy shortfall and an adverse law & order situation related to the fight against extremism. Although, the FDI has crossed one
Published 15 Apr, 2011 12:00am
July-March FDI down 28 percent

July-March FDI down 28 percent

The Foreign Direct Investment (FDI) has slumped by 28 percent during the first nine months of current fiscal year mainly due to energy shortfall and an adverse law & order situation related to the fight against extremism. Although, the FDI has crossed one
Published 15 Apr, 2011 12:00am
Index loses 82.18 points

Index loses 82.18 points

Bearish trend continued at the Karachi share market on Thursday and the KSE-100 index registered another decline of 82.18 points to close at the level of 11,652.54 points. The opening was positive on the back of investors' interest at the available low le
Published 15 Apr, 2011 12:00am
Index loses 82.18 points

Index loses 82.18 points

Bearish trend continued at the Karachi share market on Thursday and the KSE-100 index registered another decline of 82.18 points to close at the level of 11,652.54 points. The opening was positive on the back of investors' interest at the available low le
Published 15 Apr, 2011 12:00am
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