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Archive - 2011-05-10
Gold surges to Rs41,571
Markets

Gold surges to Rs41,571

KARACHI: Gold surged by Rs 257 to Rs 41,571 per 10 grams in local bullion market on Tuesday, as its international price
Published 10 May, 2011 04:22pm
World stocks up as oil slips
Financial

World stocks up as oil slips

LONDON: World stocks advanced on Tuesday as strong Chinese trade data reinforced optimism about the global economy, whil
Published 10 May, 2011 12:14pm
Cement: is the worse over yet?
BR Research

Cement: is the worse over yet?

Cement dispatches for April 2011 disclosed by the All Pakistan Cement Manufacturers Association present little cause for celebration; except
Published 10 May, 2011 12:00am
FIFA joins forces with Interpol on illicit betting

FIFA joins forces with Interpol on illicit betting

World football's governing body FIFA said Monday that it would fund an Interpol training programme to help tackle match fixing and irregular betting thought to be worth hundreds of millions of dollars. "The threat of match-fixing in sport is a major one,
Published 10 May, 2011 12:00am
Sterling falls versus dollar

Sterling falls versus dollar

Sterling fell to its lowest in nearly three weeks against the dollar on Monday, dragged down by falls in the euro against the US currency as a downgrade of Greece's debt worsened eurozone debt worries. Traders and analysts expected sterling to stay under
Published 10 May, 2011 12:00am
Australian, New Zealand dollars gain

Australian, New Zealand dollars gain

The Australian dollar rose against the greenback on Monday, underpinned by prospects of an interest rate rise, while both it and the New Zealand dollar outperformed a euro shaken by heightened sovereign debt worries. The Australian dollar gained around 0.
Published 10 May, 2011 12:00am
Yuan little changed

Yuan little changed

The yuan closed little changed on the dollar on Monday as a sharp rebound in the US dollar index raised investor concerns over how much the People's Bank of China may allow the yuan to appreciate in the future. Before trading began, the PBOC fixed the yua
Published 10 May, 2011 12:00am
Singapore dollar rebounds

Singapore dollar rebounds

The Singapore dollar led gains in other Asian currencies on Monday, with investors taking higher commodity prices as a green light to rebuild bets on regional emerging currencies, which may keep strengthening especially against the euro.
Published 10 May, 2011 12:00am
Indian rupee rises

Indian rupee rises

The Indian rupee ended stronger, snapping a two-day losing streak on Monday, underpinned by views a large share offering lined up for this week would spur robust dollar flows. It, however, ended off the day's high as the US unit pared some losses from ear
Published 10 May, 2011 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 73.16/73.17 (previous 73.10/73.17) Call Money Rates: 5.00-7.00 percent (previous 4.75-7.25 percent).
Published 10 May, 2011 12:00am
Euro surges in London

Euro surges in London

The euro bounced on Monday as Asian and Middle East sovereign investors scooped it up after last week's selloff, although bloated long positions and eurozone debt worries pointed to downside risks. Technical indicators also suggested the euro could ease,
Published 10 May, 2011 12:00am
Euro falls in New York trade

Euro falls in New York trade

The euro fell for the fourth straight day on Monday after a ratings downgrade of Greece kept peripheral eurozone debt woes in focus and made investors risk averse. Standard and Poor's cut Greece's rating to B from BB-, dragging it further into junk territ
Published 10 May, 2011 12:00am
Euro bounces back in Asia

Euro bounces back in Asia

The euro bounced back on Monday as some funds scooped it up after a steep drop last week but speculators' bloated long positions in the currency pointed to a risk of further falls even after policymakers denied a report that Greece may consider quitting t
Published 10 May, 2011 12:00am
ECB seen keeping emergency loans on periphery woes

ECB seen keeping emergency loans on periphery woes

The European Central Bank is likely to extend its emergency loans to the end of the year as Portuguese banks increased demand for its loans, serving to highlight the fragility of the recovery of money markets. Portuguese bank borrowing from the ECB rose n
Published 10 May, 2011 12:00am
Weak banks drag FTSE lower

Weak banks drag FTSE lower

Weak banks weighed on Britain's leading share index on Monday, with the sector hit by their capitulation in a fight over loan insurance mis-selling, and by eurozone debt concerns after S&P cut Greece's credit rating. The British Banking Association said m
Published 10 May, 2011 12:00am
Australian shares gain

Australian shares gain

Australian stocks rose 0.3 percent on Monday, finishing off session highs as banks gave up early gains in low volume trade ahead of the first budget from Australia's minority government, due on Tuesday. Investors said the market was struggling to forge ah
Published 10 May, 2011 12:00am
HSBC to launch regional, global emerging market ETFs

HSBC to launch regional, global emerging market ETFs

HSBC is planning to expand its offering of exchange-traded funds (ETFs) in the coming months, the bank's head of ETF said, pointing to emerging market products with a global and regional focus. "We are still missing products on some very important indices
Published 10 May, 2011 12:00am
European shares fall

European shares fall

European shares fell on Monday after banks were hit by a Greek credit rating downgrade, with further weakness seen for financials as investors price in a greater likelihood that Greece will restructure its debt. Banks fell on the back of concerns about po
Published 10 May, 2011 12:00am
Hong Kong and China shares snap losing streaks

Hong Kong and China shares snap losing streaks

Hong Kong shares closed higher on Monday, snapping an eight-session losing streak, boosted by stabilising global crude prices, but gains and turnover were capped by concern over key economic data due from Beijing on Wednesday.
Published 10 May, 2011 12:00am
Seoul shares down

Seoul shares down

Seoul shares finished down after trading in a limited range on Monday, as investors remained cautious ahead of a central bank rate decision and options expiry this week, but rises in shipyards and crude oil refiners helped. The Korea Composite Stock Price
Published 10 May, 2011 12:00am
Indian shares higher

Indian shares higher

India's main stock index eked out modest gains in flip-flop trading on Monday, with a rebound in commodities markets and global crude oil prices renewing investor worries about the impact of rising interest rates and high inflation. Top mobile carrier Bha
Published 10 May, 2011 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 0.65 percent on Monday, with banks gaining amid investor optimism the government will boost the stock market In the months ahead of the presidential election. Banking shares were up 1.38 percent, on hopes the government will be using it
Published 10 May, 2011 12:00am
Monday's midday trade: Wall Street up

Monday's midday trade: Wall Street up

US stocks moved higher on Monday as a bounce back in commodities lifted energy and materials shares, offsetting concerns about European debt. Stocks seesawed for much of the morning between modest gains and losses after Standard & Poor's downgraded Greece
Published 10 May, 2011 12:00am
Nikkei average falls

Nikkei average falls

Tokyo stocks fell for a second straight session on Monday, dragged down by a plunge in Chubu Electric after Prime Minister Naoto Kan called for the closure of its nuclear plant due to worries that a large earthquake could trigger another nuclear crisis.
Published 10 May, 2011 12:00am
Most Southeast Asian stocks regain

Most Southeast Asian stocks regain

Most Southeast Asian stock markets climbed higher on Monday, regaining some of the ground lost last week when global stocks and commodities tumbled, as solid US payrolls data suggested a recovery in the world's biggest economy was picking up momentum.
Published 10 May, 2011 12:00am
Middle East markets: Egypt rebounds on debt relief

Middle East markets: Egypt rebounds on debt relief

Egyptian stocks rebounded on Monday on a report of $1 billion US debt relief for Egypt while Gulf markets were mixed after being hit by an oil-price drop. Egypt's main rose after three days of decline following a Washington Post report that the aid would
Published 10 May, 2011 12:00am
Apple usurps Google as world's most valuable brand

Apple usurps Google as world's most valuable brand

Apple has overtaken Google as the world's most valuable brand, ending a four-year reign by the Internet search leader, according to a new study by global brands agency Millward Brown. The iPhone and iPad maker's brand is now worth $153 billion, almost hal
Published 10 May, 2011 12:00am
Germany reports record exports in March

Germany reports record exports in March

Germany drove its trade surplus up to 15.2 billion euros ($22 billion) in March, official data showed on Monday as sustained global activity fuelled record exports by Europe's economic powerhouse. In February, the calendar and seasonally adjusted trade su
Published 10 May, 2011 12:00am
Farmers in north India protest over land acquisition

Farmers in north India protest over land acquisition

Indian police on Monday cordoned off two villages outside New Delhi after deadly clashes with farmers who allege they were forced from their land to make room for a motorway. Two policemen and a farmer were killed during the weekend near the suburb of Noi
Published 10 May, 2011 12:00am
Ratings agencies hammer Greece in EU chaos

Ratings agencies hammer Greece in EU chaos

Credit ratings agencies hammered Greece on Monday after senior eurozone policymakers acknowledged that Athens will need a second bailout package soon to avert a disorderly overhaul of its debt obligations. Officials said the European Union was also lookin
Published 10 May, 2011 12:00am
Volkswagen bids for MAN to advance truck merger plan

Volkswagen bids for MAN to advance truck merger plan

German carmaker Volkswagen pushed ahead with a plan to combine its MAN AG and Scania truckmaking affiliates on Monday with a bid to acquire more shares in MAN. VW chairman Ferdinand Piech, who wants to create Europe's biggest truckmaker to compete with wo
Published 10 May, 2011 12:00am
Central banks urge budget corrections, says Trichet

Central banks urge budget corrections, says Trichet

Central bankers are pressing advanced economies to gradually improve their budgets while fast growing emerging nations must guard against overheating, ECB chief Jean-Claude Trichet said on Monday. The European Central Bank chief warned, after a regular ga
Published 10 May, 2011 12:00am
Oman arrests six as protesters demand more jobs

Oman arrests six as protesters demand more jobs

Omani police arrested six people involved in a demonstration on Monday demanding jobs and higher wages in the eastern town of Jaalan Bani Bu Ali, witnesses said, in another sign of the unrest sweeping the Arab world. Around 100 protesters, mostly young pe
Published 10 May, 2011 12:00am
Top banks give nod to junior debt writeoffs

Top banks give nod to junior debt writeoffs

Junior debt holders should incur a loss on their holdings when a bank gets into trouble, an international bank lobby group said on Monday. In a report supporting banks creating "living wills" to limit damage to financial industry when firms collapse, the
Published 10 May, 2011 12:00am
US tells China to reform in its own interest

US tells China to reform in its own interest

The United States told China on Monday that improvements in human rights and economic reforms would serve Beijing's own interests and promised it was not seeking to contain the Asian power's rise. The United States said it was raising concerns about right
Published 10 May, 2011 12:00am
Price hikes boost McDonald's April sales

Price hikes boost McDonald's April sales

McDonald's Corp posted a better-than-expected 6 percent rise in April sales at established restaurants, helped by menu price increases that helped offset higher costs for beef and other ingredients. Shares in the world's biggest hamburger chain rose almos
Published 10 May, 2011 12:00am
Costs hit HSBC profit

Costs hit HSBC profit

Higher costs helped drag HSBC first-quarter profit down 14 percent from a year ago, underlining the task the bank's new boss faces with a shake-up plan this week. It may take three years to get costs back below target, Europe's biggest bank said on Monday
Published 10 May, 2011 12:00am
Costs hit HSBC profit

Costs hit HSBC profit

Higher costs helped drag HSBC first-quarter profit down 14 percent from a year ago, underlining the task the bank's new boss faces with a shake-up plan this week. It may take three years to get costs back below target, Europe's biggest bank said on Monday
Published 10 May, 2011 12:00am
Barclays, HSBC take $2 billion mis-selling hit

Barclays, HSBC take $2 billion mis-selling hit

British banks gave up their fight to avoid compensating customers wrongly sold loan insurance, forcing Barclays Plc and HSBC to take a combined hit of more than $2 billion in the latest blow to the industry. Barclays on Monday booked a 1 billion pound ($1
Published 10 May, 2011 12:00am
US announces $2 billion for high-speed rail projects

US announces $2 billion for high-speed rail projects

The US government awarded two billion dollars in funding Monday for high-speed rail projects including production of "next-generation" passenger trains and improvement of the country's busy north-east corridor. The unprecedented investment "will help ensu
Published 10 May, 2011 12:00am
Renewable energy key in climate change fight: UN

Renewable energy key in climate change fight: UN

Renewable sources such as solar and wind could supply up to 80 percent of the world's energy needs by 2050 and play a significant role in fighting global warming, a top climate panel concluded Monday.
Published 10 May, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 245,830 tonnes of cargo including 187,892 tonnes of import cargo, 57,938 tonnes of export cargo and 5,810 loaded & empty containers during last 48 hours ended at 0700 hours on Monday. The total import cargo of 187,892 tonnes compr
Published 10 May, 2011 12:00am
Gold's tumble helps Indians to buy at lower prices during key festival

Gold's tumble helps Indians to buy at lower prices during key festival

Indians, the world's biggest buyers of bullion, took gold's latest tumble as another incentive to buy on one of the country's most auspicious festivals on Friday. "They started calling in from yesterday evening to lock in this buying opportunity. Even as
Published 10 May, 2011 12:00am
HRW wheat bids higher

HRW wheat bids higher

Hard red winter wheat basis bids were steady to higher on Monday, with some dealers raising prices in a bit to spur farmer selling. Temperatures rose to a high of 104 degrees F in parts of Kansas on Sunday, raising concerns over crop prospects "There's a
Published 10 May, 2011 12:00am
Ghana's cocoa purchases 54 percent above last year's levels

Ghana's cocoa purchases 54 percent above last year's levels

Official cocoa purchases from Ghana are running 54 percent above last year's levels and the No 2 grower's output is already nearing the full-season's target, with several months of the harvest still to come. Purchases declared by private buyers to Ghana's
Published 10 May, 2011 12:00am
US wheat, corn rise on weather concern

US wheat, corn rise on weather concern

Chicago wheat rose over 2 percent on Monday and corn added 1 percent as both rebounded from last week's lows as concerns about bad crop weather in the United States and Europe provided support. Soyabean futures also firmed, tracking strength in corn and c
Published 10 May, 2011 12:00am
Russia's embargo on grain exports due to expire on July 1

Russia's embargo on grain exports due to expire on July 1

Russia's embargo on grain exports is due to expire on July 1, but traders on international markets think Moscow will likely play it safe and wait until end-September for a full lifting of the ban. However, if crops develop well it may release some wheat i
Published 10 May, 2011 12:00am
Changes a few in thin trade on grain market

Changes a few in thin trade on grain market

Low business was seen on the wholesale grain market on Monday in process of modest trading, drain and seed merchants group's release said. Wheat old Bardan and new inched up, despite good supply position, gaining Rs 5 to Rs 2385-2400, other items on cerea
Published 10 May, 2011 12:00am
Spot rate cut to Rs 8,500 amid thin trade on cotton market

Spot rate cut to Rs 8,500 amid thin trade on cotton market

Official spot rate was lowered on the cotton market on Monday in slow mills demand due to fall in international market, dealers said. The Karachi Cotton Association (KCA) official spot rate was lowered by Rs 500 at Rs 8,500, they said. In Sindh and Punjab
Published 10 May, 2011 12:00am
Oil cake market rates

Oil cake market rates

The May vaida was up, while, the July contract was unchanged on the forward cottonseed oilcake market on Monday in process of trading, dealers said. The May vaida that was last week closed at Rs 1332.50 opened with a gain of 30 paisa at Rs 1332.80. The Ju
Published 10 May, 2011 12:00am
US Midwest corn, soyabean bids steady to firm

US Midwest corn, soyabean bids steady to firm

Spot corn and soyabean basis bids were steady to firm in the US Midwest interior on Monday, reflecting a lack of farmer selling, dealers said. Farmers in the western Midwest were busy with fieldwork. Corn planting was mostly complete in parts of western I
Published 10 May, 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 10 May, 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 10 May, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (May 09, 2011).

Published 10 May, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Monday (May 09, 2011).

Published 10 May, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (May 09, 2011).

Published 10 May, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Monday (May 09, 2011).

Published 10 May, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (May 09, 2011).
Published 10 May, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (May 09, 2011).

Published 10 May, 2011 12:00am
'OBL dead long before US raid'

'OBL dead long before US raid'

Iran's intelligence minister says the country has reliable information that former head of the al Qaeda terrorist group Osama bin Laden died of disease some time ago before US raid, a private TV channel reported. "We have accurate information that bin Lad
Published 10 May, 2011 12:00am
Poorest nations: investment to help global recovery: UN

Poorest nations: investment to help global recovery: UN

Investment in the world's poorest nations will aid global recovery, UN Secretary-General Ban Ki-moon said at a conference in Istanbul on Monday to agree a 10-year action plan to help least developed nations. "I have come to this conference with a single s
Published 10 May, 2011 12:00am
Poorest nations: investment to help global recovery: UN

Poorest nations: investment to help global recovery: UN

Investment in the world's poorest nations will aid global recovery, UN Secretary-General Ban Ki-moon said at a conference in Istanbul on Monday to agree a 10-year action plan to help least developed nations. "I have come to this conference with a single s
Published 10 May, 2011 12:00am
Poorest nations: investment to help global recovery: UN

Poorest nations: investment to help global recovery: UN

Investment in the world''s poorest nations will aid global recovery, UN Secretary-General Ban Ki-moon said at a conference in Istanbul on Monday to agree a 10-year action plan to help least developed nations. "I have come to this conference with a single
Published 10 May, 2011 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (May 09, 2011).
Published 10 May, 2011 12:00am
Kardar unveils FICF on G2P

Kardar unveils FICF on G2P

State Bank of Pakistan Governor Shahid Hafiz Kardar on Monday launched 'GBP 10 million Financial Innovation Challenge Fund (FICF)' and unveiled the first round of FICF on Government to Person Payments (G2P). "Banks, public sector institutions, microfinanc
Published 10 May, 2011 12:00am
Kardar unveils FICF on G2P

Kardar unveils FICF on G2P

State Bank of Pakistan Governor Shahid Hafiz Kardar on Monday launched 'GBP 10 million Financial Innovation Challenge Fund (FICF)' and unveiled the first round of FICF on Government to Person Payments (G2P). "Banks, public sector institutions, microfinanc
Published 10 May, 2011 12:00am
Kardar unveils FICF on G2P

Kardar unveils FICF on G2P

State Bank of Pakistan Governor Shahid Hafiz Kardar on Monday launched ''GBP 10 million Financial Innovation Challenge Fund (FICF)'' and unveiled the first round of FICF on Government to Person Payments (G2P). "Banks, public sector institutions, microfina
Published 10 May, 2011 12:00am
Exports cross $20 billion mark in first 10 months

Exports cross $20 billion mark in first 10 months

The country's exports have crossed $20 billion mark in the first 10 months of the current financial year. Despite economic slowdown of the western economies, it is all the more significant that Pakistan is on course to set new records of exports growth, T
Published 10 May, 2011 12:00am
Exports cross $20 billion mark in first 10 months

Exports cross $20 billion mark in first 10 months

The country's exports have crossed $20 billion mark in the first 10 months of the current financial year. Despite economic slowdown of the western economies, it is all the more significant that Pakistan is on course to set new records of exports growth, T
Published 10 May, 2011 12:00am
Exports cross $20 billion mark in first 10 months

Exports cross $20 billion mark in first 10 months

The country''s exports have crossed $20 billion mark in the first 10 months of the current financial year. Despite economic slowdown of the western economies, it is all the more significant that Pakistan is on course to set new records of exports growth,
Published 10 May, 2011 12:00am
ECC grants one-time waiver of demurrage on Afghan cargo

ECC grants one-time waiver of demurrage on Afghan cargo

The Economic Co-ordination Committee of the Cabinet (ECC) has approved one-time waiver of storage/demurrage charges of Rs 1.133 billion and further demurrage that may accrue on the same cargo till the date of clearance along with 60 day grace period from
Published 10 May, 2011 12:00am
ECC grants one-time waiver of demurrage on Afghan cargo

ECC grants one-time waiver of demurrage on Afghan cargo

The Economic Co-ordination Committee of the Cabinet (ECC) has approved one-time waiver of storage/demurrage charges of Rs 1.133 billion and further demurrage that may accrue on the same cargo till the date of clearance along with 60 day grace period from
Published 10 May, 2011 12:00am
ECC grants one-time waiver of demurrage on Afghan cargo

ECC grants one-time waiver of demurrage on Afghan cargo

The Economic Co-ordination Committee of the Cabinet (ECC) has approved one-time waiver of storage/demurrage charges of Rs 1.133 billion and further demurrage that may accrue on the same cargo till the date of clearance along with 60 day grace period from
Published 10 May, 2011 12:00am
US rejects Gilani's criticism of raid

US rejects Gilani's criticism of raid

The United States said Monday it would not "apologise" for launching a raid to kill Osama bin Laden on Pakistani soil, after the Islamabad government complained about US "unilateralism." White House spokesman Jay Carney said Washington took Pakistani comp
Published 10 May, 2011 12:00am
US rejects Gilani's criticism of raid

US rejects Gilani's criticism of raid

The United States said Monday it would not "apologise" for launching a raid to kill Osama bin Laden on Pakistani soil, after the Islamabad government complained about US "unilateralism." White House spokesman Jay Carney said Washington took Pakistani comp
Published 10 May, 2011 12:00am
Kayani speaks to officers of three garrisons

Kayani speaks to officers of three garrisons

Chief of the Army Staff, General Ashfaq Parvez Kayani addressed the officers at Rawalpindi, Kharian and Sialkot garrisons on Monday. He discussed one-point agenda of Abbottabad incident, says a press release issued by ISPR. Kayani said that Abbottabad inc
Published 10 May, 2011 12:00am
Kayani speaks to officers of three garrisons

Kayani speaks to officers of three garrisons

Chief of the Army Staff, General Ashfaq Parvez Kayani addressed the officers at Rawalpindi, Kharian and Sialkot garrisons on Monday. He discussed one-point agenda of Abbottabad incident, says a press release issued by ISPR. Kayani said that Abbottabad inc
Published 10 May, 2011 12:00am
US wants cooperative ties: White House

US wants cooperative ties: White House

The United States wants Pakistan to grant access to Osama bin Laden's three wives to gain more information about the al Qaeda leader's network, White House spokesman Jay Carney said on Monday. Strains have developed between the two governments over the US
Published 10 May, 2011 12:00am
US wants cooperative ties: White House

US wants cooperative ties: White House

The United States wants Pakistan to grant access to Osama bin Laden's three wives to gain more information about the al Qaeda leader's network, White House spokesman Jay Carney said on Monday. Strains have developed between the two governments over the US
Published 10 May, 2011 12:00am
Import and local supply: ST exemption on Defence stores may be withdrawn

Import and local supply: ST exemption on Defence stores may be withdrawn

The government is likely to withdraw sales tax exemption on import and local supply of defence stores and will make appropriate readjustments in the defence budget allocations. An official provisional document of federal budget 2011-12 shows that the gove
Published 10 May, 2011 12:00am
Import and local supply: ST exemption on Defence stores may be withdrawn

Import and local supply: ST exemption on Defence stores may be withdrawn

The government is likely to withdraw sales tax exemption on import and local supply of defence stores and will make appropriate readjustments in the defence budget allocations. An official provisional document of federal budget 2011-12 shows that the gove
Published 10 May, 2011 12:00am
Import and local supply: ST exemption on Defence stores may be withdrawn

Import and local supply: ST exemption on Defence stores may be withdrawn

The government is likely to withdraw sales tax exemption on import and local supply of defence stores and will make appropriate readjustments in the defence budget allocations. An official provisional document of federal budget 2011-12 shows that the gove
Published 10 May, 2011 12:00am
Compulsory NTN for new gas connection: RAC opposes FBR budget proposal

Compulsory NTN for new gas connection: RAC opposes FBR budget proposal

The Revenue Advisory Council (RAC) has opposed a budget proposal of the Federal Board of Revenue (FBR) to make the National Tax Number (NTN) mandatory for new commercial and industrial applicants of gas connection for documentation of the economy.
Published 10 May, 2011 12:00am
Compulsory NTN for new gas connection: RAC opposes FBR budget proposal

Compulsory NTN for new gas connection: RAC opposes FBR budget proposal

The Revenue Advisory Council (RAC) has opposed a budget proposal of the Federal Board of Revenue (FBR) to make the National Tax Number (NTN) mandatory for new commercial and industrial applicants of gas connection for documentation of the economy.
Published 10 May, 2011 12:00am
Compulsory NTN for new gas connection: RAC opposes FBR budget proposal

Compulsory NTN for new gas connection: RAC opposes FBR budget proposal

The Revenue Advisory Council (RAC) has opposed a budget proposal of the Federal Board of Revenue (FBR) to make the National Tax Number (NTN) mandatory for new commercial and industrial applicants of gas connection for documentation of the economy.
Published 10 May, 2011 12:00am
'Fixed scheme' likely for retailers

'Fixed scheme' likely for retailers

The Federal Board of Revenue (FBR) is likely to announce a 'fixed scheme' for the retailers to attract the sector for payment of a fixed amount under the documented regime from 2011-12. Sources told Business Recorder here on Monday that the idea of
Published 10 May, 2011 12:00am
'Fixed scheme' likely for retailers

'Fixed scheme' likely for retailers

The Federal Board of Revenue (FBR) is likely to announce a 'fixed scheme' for the retailers to attract the sector for payment of a fixed amount under the documented regime from 2011-12. Sources told Business Recorder here on Monday that the idea of
Published 10 May, 2011 12:00am
''Fixed scheme'' likely for retailers

''Fixed scheme'' likely for retailers

The Federal Board of Revenue (FBR) is likely to announce a ''fixed scheme'' for the retailers to attract the sector for payment of a fixed amount under the documented regime from 2011-12. Sources told Business Recorder here on Monday that the idea
Published 10 May, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 10 May, 2011 12:00am
India begins wargames along Pakistan border

India begins wargames along Pakistan border

India kicked off war games involving thousands of troops Monday along its border with Pakistan. A military spokesman told reporters the six-day exercise, codenamed Vijayee Bhava (Be Victorious) was being held in the Thar desert region in the Indian state
Published 10 May, 2011 12:00am
India begins wargames along Pakistan border

India begins wargames along Pakistan border

India kicked off war games involving thousands of troops Monday along its border with Pakistan. A military spokesman told reporters the six-day exercise, codenamed Vijayee Bhava (Be Victorious) was being held in the Thar desert region in the Indian state
Published 10 May, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

Dividend/Bonus announcements by the companies listed on the Karachi Stock Exchange.

Published 10 May, 2011 12:00am
Index gains 52.72 points

Index gains 52.72 points

Renewed institutional and foreign investors' interest on dips on Monday supported the KSE-100 index to register an increase of 52.72 points to close at 11,932.68 points. After positive opening, the index breached 12,000 points level to hit 12,001.83 point
Published 10 May, 2011 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 10 May, 2011 12:00am
Index gains 52.72 points

Index gains 52.72 points

Renewed institutional and foreign investors' interest on dips on Monday supported the KSE-100 index to register an increase of 52.72 points to close at 11,932.68 points. After positive opening, the index breached 12,000 points level to hit 12,001.83 point
Published 10 May, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 10 May, 2011 12:00am
Index gains 52.72 points

Index gains 52.72 points

Renewed institutional and foreign investors'' interest on dips on Monday supported the KSE-100 index to register an increase of 52.72 points to close at 11,932.68 points. After positive opening, the index breached 12,000 points level to hit 12,001.83 poin
Published 10 May, 2011 12:00am
BRIndex30 up 79.13 points

BRIndex30 up 79.13 points

On Monday, the BRIndex30 opened at 8,574.85 points and remained in positive throughout the trading session. It touched the intra-day high of 8,704.40 points and low of 8,574.85 points and closed at 8,653.98 points with a net positive change of 79.13 point
Published 10 May, 2011 12:00am
BRIndex30 up 79.13 points

BRIndex30 up 79.13 points

On Monday, the BRIndex30 opened at 8,574.85 points and remained in positive throughout the trading session. It touched the intra-day high of 8,704.40 points and low of 8,574.85 points and closed at 8,653.98 points with a net positive change of 79.13 point
Published 10 May, 2011 12:00am
LSE index up 33.11 points

LSE index up 33.11 points

Equities moved both the ways on the Lahore Stock Exchange (LSE) but finally settled in a positive column amid ascending transaction volume on Monday. The LSE-25 index moved up to 3221.92 points against 3188.81 points of Friday, showing an increment of 33.
Published 10 May, 2011 12:00am
LSE index up 33.11 points

LSE index up 33.11 points

Equities moved both the ways on the Lahore Stock Exchange (LSE) but finally settled in a positive column amid ascending transaction volume on Monday. The LSE-25 index moved up to 3221.92 points against 3188.81 points of Friday, showing an increment of 33.
Published 10 May, 2011 12:00am
Taliban protest bin Laden killing in Wana

Taliban protest bin Laden killing in Wana

Hundreds of Taliban rallied in a Pakistani tribal town on Monday, condemning the killing of Osama bin Laden and vowing to avenge the al Qaeda chief's death, local officials said. Chanting slogans denouncing Pakistan and the United States, the protesters g
Published 10 May, 2011 12:00am
Malik says he knew of US raid just after it began

Malik says he knew of US raid just after it began

Pakistan became aware of the operation that killed Osama bin Laden 15 minutes after it had begun but did not know the target, Al-Arabiya television quoted Interior Minister Rehman Malik as saying. "I was made aware of the operation 15 minutes after it had
Published 10 May, 2011 12:00am
'US has non-Pakistan supply routes'

'US has non-Pakistan supply routes'

The Pentagon has alternatives to the key land routes through Pakistan used to supply US forces in Afghanistan and is not wholly dependent on those routes, a top US official said on Monday. "We're confident that we're not dependent upon any particular sing
Published 10 May, 2011 12:00am
'No plans to pull CIA officer out of Pakistan'

'No plans to pull CIA officer out of Pakistan'

The Central Intelligence Agency has no plans to withdraw its top spy from Islamabad after his name was allegedly divulged in a Pakistani newspaper, a US official said on Monday. The publication of the name came amid severe tensions between the two countri
Published 10 May, 2011 12:00am
THE RUPEE: mixed trend

THE RUPEE: mixed trend

The rupee, however, managed to shed some losses in relation to dollar on expectations of high inflows in the near future, dealers said on Monday on the currency market. The rupee moved up with a gain of five paisa in relation to the greenback for buying a
Published 10 May, 2011 12:00am
THE RUPEE: mixed trend

THE RUPEE: mixed trend

The rupee, however, managed to shed some losses in relation to dollar on expectations of high inflows in the near future, dealers said on Monday on the currency market. The rupee moved up with a gain of five paisa in relation to the greenback for buying a
Published 10 May, 2011 12:00am
India Supreme Court suspends Babri Masjid ruling

India Supreme Court suspends Babri Masjid ruling

India's Supreme Court on Monday suspended a High Court ruling over the partition of a disputed site that has been a flashpoint for Hindu-Muslim clashes. A two-justice bench questioned the reasoning behind a ruling passed last year that divided the site of
Published 10 May, 2011 12:00am
India Supreme Court suspends Babri Masjid ruling

India Supreme Court suspends Babri Masjid ruling

India's Supreme Court on Monday suspended a High Court ruling over the partition of a disputed site that has been a flashpoint for Hindu-Muslim clashes. A two-justice bench questioned the reasoning behind a ruling passed last year that divided the site of
Published 10 May, 2011 12:00am
Indo-Pak talks on Wullar Barrage on May 11

Indo-Pak talks on Wullar Barrage on May 11

Pakistan and India are holding four-day Secretary level parleys on Wullar Barrage dispute beginning May 11 in Islamabad, official sources told Business Recorder. Indian team will be led by Water Resources Secretary, Dhruv Vijai Singh, while Javed I
Published 10 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (May 09, 2011).

Published 10 May, 2011 12:00am
Indo-Pak talks on Wullar Barrage on May 11

Indo-Pak talks on Wullar Barrage on May 11

Pakistan and India are holding four-day Secretary level parleys on Wullar Barrage dispute beginning May 11 in Islamabad, official sources told Business Recorder. Indian team will be led by Water Resources Secretary, Dhruv Vijai Singh, while Javed I
Published 10 May, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Monday (May 09, 2011).

Published 10 May, 2011 12:00am
Indo-Pak talks on Wullar Barrage on May 11

Indo-Pak talks on Wullar Barrage on May 11

Pakistan and India are holding four-day Secretary level parleys on Wullar Barrage dispute beginning May 11 in Islamabad, official sources told Business Recorder. Indian team will be led by Water Resources Secretary, Dhruv Vijai Singh, while Javed I
Published 10 May, 2011 12:00am
Pakistani arrested

Pakistani arrested

A Pakistani, Muhammad Zafar, suspected of terrorism and other crimes was detained by Czech police under an international arrest warrant at the end of April, the Czech justice ministry told AFP Monday.
Published 10 May, 2011 12:00am
Pakistani arrested

Pakistani arrested

A Pakistani, Muhammad Zafar, suspected of terrorism and other crimes was detained by Czech police under an international arrest warrant at the end of April, the Czech justice ministry told AFP Monday.
Published 10 May, 2011 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 30th APRIL, 2011.

Published 10 May, 2011 12:00am
Rs 45.803 billion Ijara Sukuk sold

Rs 45.803 billion Ijara Sukuk sold

The State Bank of Pakistan on Monday sold 3-Year Government of Pakistan Ijara Sukuk worth Rs 45.803 billion against bids of Rs 51.253 billion. The SBP has issued the following statement: Tender for Sale of 3-Year Government of Pakistan Ijara Sukuk was inv
Published 10 May, 2011 12:00am
State Bank statement of affairs

State Bank statement of affairs

The statement of affairs of the State Bank of Pakistan, Banking Department, as on 30th APRIL, 2011.

Published 10 May, 2011 12:00am
Rs 45.803 billion Ijara Sukuk sold

Rs 45.803 billion Ijara Sukuk sold

The State Bank of Pakistan on Monday sold 3-Year Government of Pakistan Ijara Sukuk worth Rs 45.803 billion against bids of Rs 51.253 billion. The SBP has issued the following statement: Tender for Sale of 3-Year Government of Pakistan Ijara Sukuk was inv
Published 10 May, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Monday (May 09, 2011).

Published 10 May, 2011 12:00am
Rs 45.803 billion Ijara Sukuk sold

Rs 45.803 billion Ijara Sukuk sold

The State Bank of Pakistan on Monday sold 3-Year Government of Pakistan Ijara Sukuk worth Rs 45.803 billion against bids of Rs 51.253 billion. The SBP has issued the following statement: Tender for Sale of 3-Year Government of Pakistan Ijara Sukuk was inv
Published 10 May, 2011 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Monday (May 09, 2011).

Published 10 May, 2011 12:00am
Rs 45.803 billion Ijara Sukuk sold

Rs 45.803 billion Ijara Sukuk sold

The State Bank of Pakistan on Monday sold 3-Year Government of Pakistan Ijara Sukuk worth Rs 45.803 billion against bids of Rs 51.253 billion. The SBP has issued the following statement: Tender for Sale of 3-Year Government of Pakistan Ijara Sukuk was inv
Published 10 May, 2011 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Monday (May 09, 2011).

Published 10 May, 2011 12:00am
EU to revamp trade benefits for emerging countries

EU to revamp trade benefits for emerging countries

The European Union executive is set to prune back the number of countries to whom it gives preferential trade treatment, according to a draft law seen by Reuters on Monday. More than 60 countries including economic powerhouses such as Brazil, Argentina an
Published 10 May, 2011 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Monday (May 09, 2011).

Published 10 May, 2011 12:00am
EU to revamp trade benefits for emerging countries

EU to revamp trade benefits for emerging countries

The European Union executive is set to prune back the number of countries to whom it gives preferential trade treatment, according to a draft law seen by Reuters on Monday. More than 60 countries including economic powerhouses such as Brazil, Argentina an
Published 10 May, 2011 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Monday (May 09, 2011).

Published 10 May, 2011 12:00am
EU to revamp trade benefits for emerging countries

EU to revamp trade benefits for emerging countries

The European Union executive is set to prune back the number of countries to whom it gives preferential trade treatment, according to a draft law seen by Reuters on Monday. More than 60 countries including economic powerhouses such as Brazil, Argentina an
Published 10 May, 2011 12:00am
Ejaz Chaudhry new OGDC Chairman

Ejaz Chaudhry new OGDC Chairman

Secretary Ministry of Petroleum and Natural Resources, Muhammad Ejaz Chaudhry has been appointed as director and chairman of the board of Oil and Gas Development Authority (OGDC) with immediate effect. According to a communiqué sent to KSE here on Monday,
Published 10 May, 2011 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Monday (May 09, 2011).

Published 10 May, 2011 12:00am
Ejaz Chaudhry new OGDC Chairman

Ejaz Chaudhry new OGDC Chairman

Secretary Ministry of Petroleum and Natural Resources, Muhammad Ejaz Chaudhry has been appointed as director and chairman of the board of Oil and Gas Development Authority (OGDC) with immediate effect. According to a communiqué sent to KSE here on Monday,
Published 10 May, 2011 12:00am
Ejaz Chaudhry new OGDC Chairman

Ejaz Chaudhry new OGDC Chairman

Secretary Ministry of Petroleum and Natural Resources, Muhammad Ejaz Chaudhry has been appointed as director and chairman of the board of Oil and Gas Development Authority (OGDC) with immediate effect. According to a communiqué sent to KSE here on Monday,
Published 10 May, 2011 12:00am
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