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Archive - 2011-05-19
ICBC starts operation in Pakistan
Top News

ICBC starts operation in Pakistan

BEIJING: Industrial and Commercial Bank of China (ICBC), one of the leading Chinese banks, began operations in Pakistan
Published 19 May, 2011 07:00pm
Under-invoicing worth Rs15bn detected
Top News

Under-invoicing worth Rs15bn detected

KARACHI: The Customs Intelligence has in the latest move detected registration of fake customs invoices amounting to Rs
Published 19 May, 2011 04:19pm
European stocks close higher
Financial

European stocks close higher

LONDON: European stocks markets closed higher on Thursday, with London's FTSE 100 index of leading shares up 0.55 percen
Published 19 May, 2011 03:53pm
US envoy meets Myanmar's Suu Kyi
Asia

US envoy meets Myanmar's Suu Kyi

YANGON: A senior US diplomat met Myanmar's pro-democracy leader Aung San Suu Kyi Thursday for talks about the country's
Published 19 May, 2011 03:07pm
Rs20 coin to commemorate Sino-Pak ties
Top News

Rs20 coin to commemorate Sino-Pak ties

KARACHI: The State Bank of Pakistan (SBP) will start issuing Rs 20 commemorative coin to mark the 60th anniversary of es
Published 19 May, 2011 01:55pm
World stocks above 4-week low
Financial

World stocks above 4-week low

LONDON: World stocks rose from this week's four-week low on Thursday and the euro erased earlier losses as a rebound in
Published 19 May, 2011 12:56pm
Obama to unveil Arab economic plan
Top News

Obama to unveil Arab economic plan

WASHINGTON: President Barack Obama will Thursday unveil a multi-billion dollar economic plan to spur and reward democrat
Published 19 May, 2011 12:26pm
LSE witnesses bullish trend
Markets

LSE witnesses bullish trend

LAHORE: The Lahore Stock Exchange (LSE) witnessed bullish trend by gaining 9.58 points on Thursday, as LSE-25 index open
Published 19 May, 2011 12:11pm
African growth outpacing Asia
Africa

African growth outpacing Asia

LAGOS: Investment firm Renaissance Group believes African economies can outpace the fastest growing countries in Asia an
Published 19 May, 2011 08:50am
Dollar edges down in Asia
Financial

Dollar edges down in Asia

TOKYO: The dollar eased against the yen in Asia on Thursday after rising to its highest levels in three weeks as Japanes
Published 19 May, 2011 05:29am
Oil price up in Asia
Energy

Oil price up in Asia

SINGAPORE: Oil rose in Asian trade on Thursday after US oil stockpiles did not increase as expected, analysts said. N
Published 19 May, 2011 05:15am
OGDCL going global, again!
BR Research

OGDCL going global, again!

Finally, the relentless Privatisation Commission (PC) officials have managed to persuade their hesitant fellows in the Finance ministry. E
Published 19 May, 2011 12:00am
Auto makers wish list
BR Research

Auto makers wish list

For those involved in the car assembling and manufacturing business, life isn as tranquil as they had visualised at the time of entering th
Published 19 May, 2011 12:00am
Correction
BR Research

Correction

Apropos the article published on 17 March, 2011 in the BR Research section titled HCAR: smooth for drivers, rough for assembler. The article
Published 19 May, 2011 12:00am
British operation in Iraq comes to an end

British operation in Iraq comes to an end

Britain's military operation in Iraq will finally end this weekend when the Royal Navy completes its mission to train Iraqi sailors, Defence Secretary Liam Fox said Wednesday. Britain was the second largest contributor to the 2003 US-led invasion of Iraq,
Published 19 May, 2011 12:00am
UN seeks deal to allow food, medicine into Libya

UN seeks deal to allow food, medicine into Libya

The United Nations is negotiating with Libya's government, rebels and Nato to stop fighting for up to three days to allow food and medical supplies to reach civilians, its envoy said on Wednesday. Panos Moumtzis, humanitarian co-ordinator for Libya, said
Published 19 May, 2011 12:00am
Russia expels Israeli military attache

Russia expels Israeli military attache

Russia has expelled Israel's military attache at its Moscow embassy on spying allegations, Israeli defence officials said on Wednesday, dismissing the charges as unfounded. The officials said air force Colonel Vadim Leiderman returned to Israel several da
Published 19 May, 2011 12:00am
Medvedev warns of Cold War over missile defence

Medvedev warns of Cold War over missile defence

President Dmitry Medvedev Wednesday warned of a new Cold War era if Russia and the West failed to agree on missile defence, in the first major news conference of his presidency. Despite the startling warning to the United States and Europe, Medvedev confo
Published 19 May, 2011 12:00am
Guantanamo jab sparks fistfight among Kuwait MPs

Guantanamo jab sparks fistfight among Kuwait MPs

A fistfight erupted in Kuwait's parliament on Wednesday when Sunni Islamist lawmakers exchanged blows with a Shia parliamentarian who labelled Kuwaitis detained in Guantanamo Bay, Cuba as terrorists, lawmakers said. Shia pro-government lawmaker Hussein al
Published 19 May, 2011 12:00am
Japan will not abandon nuclear power: Prime Minister

Japan will not abandon nuclear power: Prime Minister

Nuclear power will remain a key part of Japan's energy policy, Prime Minister Naoto Kan said Wednesday, but the government will review oversight of the industry after the worst atomic crisis since Chernobyl. The premier said a special commission would inv
Published 19 May, 2011 12:00am
Potro set to play in French Open

Potro set to play in French Open

Argentina's Juan Martin Del Potro has confirmed he will play in the French Open starting on Sunday having previously said he was unlikely to take part due to a hip injury. The 2009 US Open champion picked up the injury while playing in the Madrid Masters
Published 19 May, 2011 12:00am
Bad-boy Diego set for Bundesliga exile

Bad-boy Diego set for Bundesliga exile

Brazil midfielder Diego is unlikely to play for VfL Wolfsburg in the Bundesliga again having stormed out on his team before their crucial relegation battle, it was reported Wednesday. The 26-year-old is currently on holiday, but is likely to find himself
Published 19 May, 2011 12:00am
Stuart Clark calls it quits

Stuart Clark calls it quits

Australian seamer and former Test player Stuart Clark announced his retirement from international and state cricket on Wednesday. The 35-year-old will instead focus on his new role as general manager of the Sydney Sixers in a new eight-team, city-based Tw
Published 19 May, 2011 12:00am
Warne fined $50,000 for IPL bust-up

Warne fined $50,000 for IPL bust-up

The Indian cricket board has slapped a $50,000 fine on Australian bowling legend Shane Warne for his part in a bust-up with a local administrator after an IPL game, a statement said Wednesday. Warne, captain of the Rajasthan Royals team in the Indian Prem
Published 19 May, 2011 12:00am
South Africa climb to fourth on FIFA rankings

South Africa climb to fourth on FIFA rankings

The steady rise of South Africa on the monthly FIFA rankings continued Wednesday when they reached fourth place in Africa. Ghana, Ivory Coast and reigning African champions Egypt retained the top three positions while South Africa and Nigeria swopped slot
Published 19 May, 2011 12:00am
Sohail Tanveer to lead Pakistan 'A' against Afghanistan

Sohail Tanveer to lead Pakistan 'A' against Afghanistan

All-rounder Sohail Tanveer will lead Pakistan's second string against an Afghanistan side that is set to become the first international team to tour Pakistan since March 2009. The fledgling Afghan side will play three one-day matches, including the final
Published 19 May, 2011 12:00am
Luck eluded Pakistan in Azlan Shah Cup final: coach

Luck eluded Pakistan in Azlan Shah Cup final: coach

Coach Khawaja Muhammad Junaid has said that luck eluded Pakistan team in the final of Sultan Azlan Shah Cup International Hockey Tournament held in Ipoh (Malaysia) against Australia. "With a bit of luck Pakistan could have not only avenged their defeat bu
Published 19 May, 2011 12:00am
Tevez scores twice, wants to stay

Tevez scores twice, wants to stay

Carlos Tevez struck a superb double as Manchester City rose to third in the Premier League and closer to a guaranteed Champions League spot with a 3-0 win over FA Cup final opponents Stoke City on Tuesday. The unsettled Argentine, who coach Roberto Mancin
Published 19 May, 2011 12:00am
FIFA steps up fight against $90bn match-fixing industry

FIFA steps up fight against $90bn match-fixing industry

Soccer match-fixing yields $90 billion annually, a figure equivalent to legal betting, FIFA's security chief Chris Eaton said on Wednesday, emphasising the need to curb corruption in the sport. FIFA president Sepp Blatter last week pledged 20 million euro
Published 19 May, 2011 12:00am
FIFA in Malaysia on match-fixing probe

FIFA in Malaysia on match-fixing probe

Three officials from football's ruling body FIFA will arrive in Malaysia on Thursday as part of a global investigation into match-fixing and illegal gambling. The anti-corruption unit will be led by FIFA's head of security Chris Eaton, Azzuddin Ahmad, gen
Published 19 May, 2011 12:00am
Greig says Lillee 'a bit of a fairy'

Greig says Lillee 'a bit of a fairy'

Former England captain Tony Greig has risked fresh controversy by suggesting legendary Australia fast bowler Dennis Lillee was a "bit of a fairy" if he got hit himself. Lillee, one of cricket's greatest bowlers, was at the height of his powers during the
Published 19 May, 2011 12:00am
Thai consortium takes sole ownership of Foxes

Thai consortium takes sole ownership of Foxes

The Thai-based consortium in control of Championship side Leicester has taken sole ownership of the club, it was announced on Wednesday. Asia Football Investments had owned an 80 percent stake in the club but have now purchased the remaining 20% from fell
Published 19 May, 2011 12:00am
Yuan up slightly

Yuan up slightly

The yuan closed up slightly against the dollar on Wednesday after the People's Bank of China set a stronger daily mid-point and banks rushed for funds to meet the latest rise in reserve requirements. Spot yuan closed at 6.5047 versus the dollar compared w
Published 19 May, 2011 12:00am
New Zealand dollar climbs

New Zealand dollar climbs

The Australian dollar held firm while the New Zealand dollar climbed to a three-day high against the greenback on Wednesday, helped by a bounce in equities and commodities. The Aussie was last at $1.0635 compared with $1.0624 late in New York, having claw
Published 19 May, 2011 12:00am
Asian currencies broadly higher

Asian currencies broadly higher

Emerging Asian currencies rose broadly against the dollar and the Malaysian ringgit pulled up from a two-month low on Wednesday, as the dollar's recent short-covering rally showed signs of ebbing. The Malaysian ringgit stabilised after a sharp slide earli
Published 19 May, 2011 12:00am
Indian rupee recovers

Indian rupee recovers

The rupee ended marginally higher on Wednesday on the back of the dollar's losses against key currencies, but traders expect it to remain range bound with a bearish trend in the near term. The partially convertible rupee ended at 45.0550/0650 per dollar,
Published 19 May, 2011 12:00am
Swiss franc lower euro

Swiss franc lower euro

The Swiss franc drifted lower against the euro on Wednesday as markets paused for breath and digested mixed messages following meetings of Europe's top finance officials in Brussels. The franc dipped 0.3 percent against the euro compared to the New York c
Published 19 May, 2011 12:00am
Bangladesh's interbank forex and interest rates

Bangladesh's interbank forex and interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 73.18/73.24 (previous 73.18/73.22). Call Money Rates: 8.75-12.00 percent (previous 6.00-8.00 percent).
Published 19 May, 2011 12:00am
Euro gains in New York

Euro gains in New York

The euro gained against the dollar in choppy trading on Tuesday, but remains susceptible to losses related to how Greece might restructure its massive debt. Europe's top financial officials broke a taboo on Tuesday and acknowledged for the first time that
Published 19 May, 2011 12:00am
Midday trade in New York: Euro upside capped by Greek debt issues

Midday trade in New York: Euro upside capped by Greek debt issues

The euro turned higher against the dollar on Wednesday in volatile trade, boosted by firmer stocks and commodities, although its near-term outlook was clouded by Greece's unresolved debt situation. A lack of new negative headlines on Greece encouraged inv
Published 19 May, 2011 12:00am
Euro falls versus dollar in London

Euro falls versus dollar in London

The euro fell against the dollar on Wednesday after early demand ran into technical resistance but the shared currency may catch fresh bids if Federal Reserve meeting minutes suggest US interest rates will stay low. The euro traded at $1.4220, down 0.1 pe
Published 19 May, 2011 12:00am
Euro regains footing in Asia

Euro regains footing in Asia

The euro was buoyant against the dollar on Wednesday after recovering from a seven-week low earlier in the week, but wariness over Europe's sovereign debt problems kept investors nervous about piling up euro positions. The euro drew support from a recover
Published 19 May, 2011 12:00am
Sterling dips

Sterling dips

Sterling fell to a six-week low against the dollar and slipped against the euro on Wednesday as a mixed UK employment report and a slightly dovish tone to Bank of England policy minutes painted a cloudy picture. The minutes of the BoE's May meeting showed
Published 19 May, 2011 12:00am
Interbank markets show resilience to Greek woes

Interbank markets show resilience to Greek woes

Money markets look set to remain resilient to the growing prospect of Greece restructuring its debt, bolstered by the backstop of ECB liquidity and banks' limited exposure to Greek bonds. As bond markets continue to price in a landmark change in the repay
Published 19 May, 2011 12:00am
FTSE 100 index rises

FTSE 100 index rises

Strong energy stocks and miners drove Britain's top shares higher on Wednesday as investors welcomed results from Land Securities, ahead of a Federal Reserve announcement which could drive markets. Minutes from the latest Federal Open Market Committee mee
Published 19 May, 2011 12:00am
European shares up

European shares up

European shares ended higher on Wednesday, with gains in commodity stocks buoying up the index and technology firms lifted by strong results from US computer maker Dell. The session proved choppy, however, unsettled by worries over the eurozone's debt pro
Published 19 May, 2011 12:00am
Seoul shares rebound

Seoul shares rebound

Seoul shares rose on Wednesday after four sessions of falls, lifted by advances in automakers and shipbuilders including Hyundai Motor and Daewoo Shipbuilding & Marine Engineering. The Korea Composite Stock Price Index finished up 1.6 percent at 2,135.78
Published 19 May, 2011 12:00am
Hong Kong, China shares rise

Hong Kong, China shares rise

Hong Kong shares held above their 200-day moving average, while banks and energy-related counters helped China's benchmark index rise for a second session although weak turnover in both markets suggested investor conviction remained low. The Hang Seng Ind
Published 19 May, 2011 12:00am
Indian shares stay down

Indian shares stay down

Indian shares fell for the third straight day on Wednesday to their lowest close in nearly two months as investors fret over rising interest rates and higher fuel prices that could curb demand in the world's second-fastest growing major economy and hit co
Published 19 May, 2011 12:00am
Southeast Asian markets bit higher

Southeast Asian markets bit higher

Several Southeast Asian stock markets posted a small rise on Wednesday thanks to gains in selected sectors such as palm oil and coal mining, although poor economic data from the United States added to the caution caused by recent volatility in commodities
Published 19 May, 2011 12:00am
Treasuries yields fall

Treasuries yields fall

US Treasury yields fell through key technical resistance levels as weak data added to disappointment over the pace of economic growth and investors moved out of commodity and equities markets back into bonds. Further gains are now seen depending on whethe
Published 19 May, 2011 12:00am
Treasuries yields fall

Treasuries yields fall

US Treasury yields fell through key technical resistance levels as weak data added to disappointment over the pace of economic growth and investors moved out of commodity and equities markets back into bonds. Further gains are now seen depending on whethe
Published 19 May, 2011 12:00am
Taiwan stocks higher

Taiwan stocks higher

Taiwan stocks snapped three sessions of declines on Wednesday to end 0.68 percent higher, led by department stores and automakers. The main TAIEX finished up 60.75 points at 8,944.84, after a flat open. The department store and automaker sub-indexes advan
Published 19 May, 2011 12:00am
Wall Street hit by economic blues; traders eye bounce

Wall Street hit by economic blues; traders eye bounce

The Dow and the S&P 500 fell for a third day on Tuesday after disappointing figures from Wal-Mart and Hewlett-Packard, although a late rebound suggested investors may be looking for a short-term bounce. Both the S&P 500 and Nasdaq dipped below their 50-da
Published 19 May, 2011 12:00am
Wednesday's early trade: stocks extend gains

Wednesday's early trade: stocks extend gains

US stocks rose on Wednesday after US policy makers said discussion of the removal of monetary stimulus should not be seen as an indication it will happen soon, minutes of the Fed's April meeting showed. The Dow Jones industrial average climbed 87.75 point
Published 19 May, 2011 12:00am
Nikkei average climbs

Nikkei average climbs

Japan's Nikkei average advanced 1 percent on Wednesday as receding concerns about a strong yen spurred short-covering, but further gains may be hard-won amid ongoing concerns about nuclear operator Tokyo Electric's compensation scheme. A weaker yen had pu
Published 19 May, 2011 12:00am
Middle East markets: Oman's bourse hit 17-month low

Middle East markets: Oman's bourse hit 17-month low

Most Gulf Arab markets fell on Wednesday as Oman's bourse hit a 17-month low on low investor demand, while Egypt's market ended a seven-day rally on concerns over company earnings. In a ninth straight loss, Oman's index fell 1.4 percent to its lowest clos
Published 19 May, 2011 12:00am
WTO overturns part of US aid complaint ruling on Airbus

WTO overturns part of US aid complaint ruling on Airbus

The World Trade Organisation's appeal body on Wednesday overturned part of its ruling on Washington's complaint against the European Union over aid for aviation giant Airbus. While the appellate body upheld findings that some subsidies including launch ai
Published 19 May, 2011 12:00am
Spanish anti-crisis protesters vow to defy ban

Spanish anti-crisis protesters vow to defy ban

Protesters fuming over Spain's economic crisis and sky-high jobless rate vowed Wednesday to defy a ban by regional authorities in Madrid and press ahead with demonstrations ahead of weekend local elections. Hundreds of demonstrators have camped in Madrid'
Published 19 May, 2011 12:00am
British unemployment data leaves Bank of England in spot

British unemployment data leaves Bank of England in spot

Mixed British unemployment data will push the Bank of England into maintaining record-low interest rates for a few more months, amid uncertainty over the faltering economy, according to analysts. Britain's unemployment rate and jobless total fell in the f
Published 19 May, 2011 12:00am
ICAP gets FY earnings boost from electronic trades

ICAP gets FY earnings boost from electronic trades

The world's largest interdealer broker ICAP Plc reported record profits from electronic broking, underscoring its headstart on a small band of rivals all moving away from phone-based trades. Electronic brokerage profit jumped 23 percent to 123 million pou
Published 19 May, 2011 12:00am
Jailed IMF chief under pressure to quit

Jailed IMF chief under pressure to quit

Dominique Strauss-Kahn faced growing pressure to quit as head of the IMF on Wednesday after his arrest and detention in a New York jail on attempted rape charges. The arrest, while dashing his prospects for the French presidency, has also raised a broader
Published 19 May, 2011 12:00am
ECB official blasts 'vested interests' in US, UK

ECB official blasts 'vested interests' in US, UK

The European Central Bank's chief economist said a Greek debt restructuring would be a "recipe for catastrophe" as he blamed "vested interests" in Britain and the United States for fuelling market pressure on the country. Juergen Stark told a financial co
Published 19 May, 2011 12:00am
World Bank criticises India's pro-poor schemes

World Bank criticises India's pro-poor schemes

The World Bank on Wednesday criticised the Indian government's anti-poverty schemes, saying they did not offer value for money and were sometimes undermined by corruption. The bank said India was not getting "bang for the rupee" due to "leakages" in the f
Published 19 May, 2011 12:00am
Hong Kong buzzes over $13 million lottery jackpot

Hong Kong buzzes over $13 million lottery jackpot

Hopeful crowds descended on betting shops in Hong Kong on Wednesday as the city buzzed over a HK$100 million ($13 million) lottery jackpot - the biggest prize fund in years. The Mark Six jackpot swelled after no-one won the HK$75 million prize on Tuesday,
Published 19 May, 2011 12:00am
Regulators start review of global bank bonus curbs

Regulators start review of global bank bonus curbs

Watchdogs plan to check up on big international banks directly to see if they have improved compliance with globally-agreed bonus curbs. The Financial Stability Board (FSB) said in a statement its latest review would survey supervisors and regulators as w
Published 19 May, 2011 12:00am
Japan service sector activity dives

Japan service sector activity dives

Japan's service sector activity shrank by the fastest pace in 22 years in March as the massive earthquake and tsunami hampered trade and dampened consumer sentiment, official data showed Wednesday. The tertiary index, which measures spending in the teleco
Published 19 May, 2011 12:00am
IMF issues warning to Greece, ECB cautions on debt

IMF issues warning to Greece, ECB cautions on debt

The IMF warned Greece on Wednesday that a drive to shore up its troubled finances would fail unless Athens redoubled its reform efforts, and the ECB hit back at suggestions a debt restructuring might be the solution. European finance ministers broke a tab
Published 19 May, 2011 12:00am
Minor changes in slow trade on grain market

Minor changes in slow trade on grain market

Slow trading was seen on the wholesale grain market on Wednesday as main buyers kept to the sideline on hopes of decline in the rates, dealers said. Only one change was seen on the cereal side where juwar was quoted at Rs 2400-2450, other items retained t
Published 19 May, 2011 12:00am
Chemical items mixed on Jodia Bazaar

Chemical items mixed on Jodia Bazaar

The trading in chemical items closed mixed on Jodia Bazaar here on Wednesday. The following changes were noted.
Published 19 May, 2011 12:00am
US Midwest bids for corn and soyabeans firm

US Midwest bids for corn and soyabeans firm

Spot basis bids for corn and soyabeans were firmer in most of the US Midwest interior on Tuesday, driven by stalled farmer sales, dealers said. Producers were busy with planting activities, in areas where weather conditions allowed, rather than sales and
Published 19 May, 2011 12:00am
Oil cake market rates

Oil cake market rates

The May vaida was up on the forward cottonseed oilcake market on Wednesday in process of trading, dealers said. The May vaida that had closed at Rs 1333.50 commenced with a gain of 20 paisa at Rs 1333.70. The July vaida commenced with no change at Rs 1421
Published 19 May, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 88,745 tonnes of cargo including 63,595 tonnes of import cargo, 25,150 tonnes of export cargo and 4,081 loaded & empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 63,595 tonnes compr
Published 19 May, 2011 12:00am
Manila awards import rights for 660,000 tonnes of rice

Manila awards import rights for 660,000 tonnes of rice

The Philippines' National Food Authority (NFA) has awarded import rights for the entire volume of 660,000 tonnes of rice allocated to the private sector this year, an agency official said on Wednesday. The state grain procurement agency has awarded import
Published 19 May, 2011 12:00am
China to stockpile new rapeseed

China to stockpile new rapeseed

Chinese government is likely to continue stockpiling new rapeseed, which is currently being harvested, at a higher price than last year to replenish falling vegetable oil reserves, analysts said on Wednesday. The China National Grain and Oils Information
Published 19 May, 2011 12:00am
Soya export premiums firm at US Gulf Coast

Soya export premiums firm at US Gulf Coast

Soyabean export premiums at the US Gulf Coast were firm on Tuesday, rising in tandem with higher values in the CIF barge market despite seasonally slow export demand, traders said. Nearby CIF basis bids climbed 5 to 7 cents a bushel on Tuesday as weeks of
Published 19 May, 2011 12:00am
US wheat futures close sharply higher

US wheat futures close sharply higher

Chicago Board of Trade wheat futures closed sharply higher on Tuesday on a number of global weather issues that are affecting wheat output and potential wheat output. Traders said a drought in France, drought in the US Plains and excessive wet weather in
Published 19 May, 2011 12:00am
HRW wheat bids steady

HRW wheat bids steady

Hard red winter wheat basis bids were steady to firmer on Wednesday on light farmer selling of a thin new-crop harvest. Still, mill demand was lacklustre, making for a mostly quiet market. Quality of bushels coming in was generally good. The Fort Worth Gr
Published 19 May, 2011 12:00am
EU wheat suffers drought; rain gives relief to German crops

EU wheat suffers drought; rain gives relief to German crops

A drought in much of west Europe now looks certain to cut wheat harvest yields this summer but rain this week gave last-minute relief to German crops, analysts and traders said on Tuesday. Parts of central Europe had less than 40 percent of their long-ter
Published 19 May, 2011 12:00am
New York cotton

New York cotton

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

Published 19 May, 2011 12:00am
New York cotton

New York cotton

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

Published 19 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 19 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 19 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 Wednesday (May 18, 2011).

Published 19 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 Wednesday (May 18, 2011).

Published 19 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 Wednesday (May 18, 2011).

Published 19 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 Wednesday (May 18, 2011).

Published 19 May, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Wednesday (May 18, 2011).
Published 19 May, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Wednesday (May 18, 2011).

Published 19 May, 2011 12:00am
'Our nations will stay friends forever': Wen assures Gilani full support

'Our nations will stay friends forever': Wen assures Gilani full support

China's Premier Wen Jiabao on Wednesday told his Yousuf Raza Gilani their nations would stay friends "forever", as Islamabad faces US pressure after the killing of Osama bin Laden. Gilani met Wen on the second day of a visit to China that follows the May
Published 19 May, 2011 12:00am
'Our nations will stay friends forever': Wen assures Gilani full support

'Our nations will stay friends forever': Wen assures Gilani full support

China's Premier Wen Jiabao on Wednesday told his Yousuf Raza Gilani their nations would stay friends "forever", as Islamabad faces US pressure after the killing of Osama bin Laden. Gilani met Wen on the second day of a visit to China that follows the May
Published 19 May, 2011 12:00am
Islamabad and Beijing ink three accords

Islamabad and Beijing ink three accords

Pakistan and China on Wednesday inked three agreements on banking, economic and technical co-operation and extension of gold and copper extraction from the Saindak mines. China also offered a 70 million RMB grant for flood reconstruction and a 100 million
Published 19 May, 2011 12:00am
Islamabad and Beijing ink three accords

Islamabad and Beijing ink three accords

Pakistan and China on Wednesday inked three agreements on banking, economic and technical co-operation and extension of gold and copper extraction from the Saindak mines. China also offered a 70 million RMB grant for flood reconstruction and a 100 million
Published 19 May, 2011 12:00am
Islamabad and Beijing ink three accords

Islamabad and Beijing ink three accords

Pakistan and China on Wednesday inked three agreements on banking, economic and technical co-operation and extension of gold and copper extraction from the Saindak mines. China also offered a 70 million RMB grant for flood reconstruction and a 100 million
Published 19 May, 2011 12:00am
Arab unrest: perspectives - XXVIII

Arab unrest: perspectives - XXVIII

Turkish prime minister Recep Tayyip Erdogan makes a phone call to Syrian president Bashar-al Asad. But he is informed by the latter's officials that the President cannot take his call now "because he's on the phone with [Iranian President] Mahmoud Ahmedin
Published 19 May, 2011 12:00am
Arab unrest: perspectives - XXVIII

Arab unrest: perspectives - XXVIII

Turkish prime minister Recep Tayyip Erdogan makes a phone call to Syrian president Bashar-al Asad. But he is informed by the latter's officials that the President cannot take his call now "because he's on the phone with [Iranian President] Mahmoud Ahmedin
Published 19 May, 2011 12:00am
US imposes sanctions on Syria's Assad

US imposes sanctions on Syria's Assad

Washington imposed sanctions on Syrian President Bashar al-Assad for human rights abuses on Wednesday in a dramatic escalation of pressure on Syria to cease its brutal crackdown on protesters. Assad had been partly rehabilitated in the West over the last
Published 19 May, 2011 12:00am
US imposes sanctions on Syria's Assad

US imposes sanctions on Syria's Assad

Washington imposed sanctions on Syrian President Bashar al-Assad for human rights abuses on Wednesday in a dramatic escalation of pressure on Syria to cease its brutal crackdown on protesters. Assad had been partly rehabilitated in the West over the last
Published 19 May, 2011 12:00am
Policy rate may remain unchanged

Policy rate may remain unchanged

The State Bank of Pakistan is likely to keep its policy rate unchanged at 14 percent for the next two months because of ease in inflationary pressure, economists said on Wednesday. SBP is going to announce Monetary Policy on Saturday, May 21, 2011.
Published 19 May, 2011 12:00am
Policy rate may remain unchanged

Policy rate may remain unchanged

The State Bank of Pakistan is likely to keep its policy rate unchanged at 14 percent for the next two months because of ease in inflationary pressure, economists said on Wednesday. SBP is going to announce Monetary Policy on Saturday, May 21, 2011.
Published 19 May, 2011 12:00am
Policy rate may remain unchanged

Policy rate may remain unchanged

The State Bank of Pakistan is likely to keep its policy rate unchanged at 14 percent for the next two months because of ease in inflationary pressure, economists said on Wednesday. SBP is going to announce Monetary Policy on Saturday, May 21, 2011.
Published 19 May, 2011 12:00am
Marc Grossman arrives

Marc Grossman arrives

US special AfPak envoy Marc Grossman Wednesday arrived in Pakistan to discuss co-operation in the war on terror and other bilateral issues, officials said. During his two-day stay in Pakistan, he will meet President Asif Ali Zardari and senior military le
Published 19 May, 2011 12:00am
Marc Grossman arrives

Marc Grossman arrives

US special AfPak envoy Marc Grossman Wednesday arrived in Pakistan to discuss co-operation in the war on terror and other bilateral issues, officials said. During his two-day stay in Pakistan, he will meet President Asif Ali Zardari and senior military le
Published 19 May, 2011 12:00am
Osama's death: Pakistan launches four probes, says Kerry

Osama's death: Pakistan launches four probes, says Kerry

Pakistan has launched four separate probes into Osama bin Laden's life and death on Pakistani soil, US Senator John Kerry said on Tuesday, adding that Pakistan's intelligence chief has promised to tell him if it turns out someone in his agency knew bin La
Published 19 May, 2011 12:00am
Osama's death: Pakistan launches four probes, says Kerry

Osama's death: Pakistan launches four probes, says Kerry

Pakistan has launched four separate probes into Osama bin Laden's life and death on Pakistani soil, US Senator John Kerry said on Tuesday, adding that Pakistan's intelligence chief has promised to tell him if it turns out someone in his agency knew bin La
Published 19 May, 2011 12:00am
US, Obama's image sour in Muslim world: poll

US, Obama's image sour in Muslim world: poll

The image of the United States has soured in Muslim nations in the past year, says a poll released two days before President Barack Obama is due to deliver a speech on the pro-democracy revolts sweeping the Arab world. Only in Indonesia, the world's most
Published 19 May, 2011 12:00am
US, Obama's image sour in Muslim world: poll

US, Obama's image sour in Muslim world: poll

The image of the United States has soured in Muslim nations in the past year, says a poll released two days before President Barack Obama is due to deliver a speech on the pro-democracy revolts sweeping the Arab world. Only in Indonesia, the world's most
Published 19 May, 2011 12:00am
Experts offer road map for Pakistan stability

Experts offer road map for Pakistan stability

American and Pakistani experts have laid out a road map for Pakistan to establish stability and move from military dominance toward civilian rule in the next decade. The 31 experts call for overhauling the country's education and judicial systems, investi
Published 19 May, 2011 12:00am
Experts offer road map for Pakistan stability

Experts offer road map for Pakistan stability

American and Pakistani experts have laid out a road map for Pakistan to establish stability and move from military dominance toward civilian rule in the next decade. The 31 experts call for overhauling the country's education and judicial systems, investi
Published 19 May, 2011 12:00am
Index down 45.63 points

Index down 45.63 points

The KSE-100 index on Wednesday lost 45.63 points to close at 11,884.61 points with extremely low volume. Trading declined drastically due to lack of investors' interest and the volume reduced to eight-month low level of 36.772 million shares.
Published 19 May, 2011 12:00am
Index down 45.63 points

Index down 45.63 points

The KSE-100 index on Wednesday lost 45.63 points to close at 11,884.61 points with extremely low volume. Trading declined drastically due to lack of investors' interest and the volume reduced to eight-month low level of 36.772 million shares.
Published 19 May, 2011 12:00am
Index down 45.63 points

Index down 45.63 points

The KSE-100 index on Wednesday lost 45.63 points to close at 11,884.61 points with extremely low volume. Trading declined drastically due to lack of investors'' interest and the volume reduced to eight-month low level of 36.772 million shares.
Published 19 May, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 19 May, 2011 12:00am
BRIndex30 sheds 33.79 points

BRIndex30 sheds 33.79 points

On Wednesday, the BRIndex30 opened at 8,605.35 points. It touched the intra-day high of 8,631.08 points and low of 8,556.34 points and closed at 8,571.56 points with a net negative change of -33.79 points, or -0.39 percent lower than previous close. The v
Published 19 May, 2011 12:00am
BRIndex30 sheds 33.79 points

BRIndex30 sheds 33.79 points

On Wednesday, the BRIndex30 opened at 8,605.35 points. It touched the intra-day high of 8,631.08 points and low of 8,556.34 points and closed at 8,571.56 points with a net negative change of -33.79 points, or -0.39 percent lower than previous close. The v
Published 19 May, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 19 May, 2011 12:00am
Sindh government's power to levy cess challenged

Sindh government's power to levy cess challenged

Appeals against infrastructure cess imposed by the Sindh government on importers and exporters sought it to be declared illegal and unconstitutional because provisions of Constitution of Pakistan prohibit provincial governments to legislate on taxes.
Published 19 May, 2011 12:00am
Sindh government's power to levy cess challenged

Sindh government's power to levy cess challenged

Appeals against infrastructure cess imposed by the Sindh government on importers and exporters sought it to be declared illegal and unconstitutional because provisions of Constitution of Pakistan prohibit provincial governments to legislate on taxes.
Published 19 May, 2011 12:00am
Sindh government''s power to levy cess challenged

Sindh government''s power to levy cess challenged

Appeals against infrastructure cess imposed by the Sindh government on importers and exporters sought it to be declared illegal and unconstitutional because provisions of Constitution of Pakistan prohibit provincial governments to legislate on taxes.
Published 19 May, 2011 12:00am
LSE index sheds 8.13 points

LSE index sheds 8.13 points

Bearish sentiment was observed at Lahore Stock Exchange on Wednesday where equities failed to maintain upward move in the absence of investors' interest. The LSE-25 index lost 8.13 points to close at 3171.52 points against 3179.65 points of Tuesday while
Published 19 May, 2011 12:00am
LSE index sheds 8.13 points

LSE index sheds 8.13 points

Bearish sentiment was observed at Lahore Stock Exchange on Wednesday where equities failed to maintain upward move in the absence of investors' interest. The LSE-25 index lost 8.13 points to close at 3171.52 points against 3179.65 points of Tuesday while
Published 19 May, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Wednesday (May 18, 2011).

Published 19 May, 2011 12:00am
Review aid, US senators tell Clinton, Gates

Review aid, US senators tell Clinton, Gates

US senators have urged Secretary of State Hillary Clinton and Defence Secretary Robert Gates to make sure Pakistan is doing its utmost to battle extremists before disbursing more US security aid. The lawmakers, all Democrats, wrote Clinton and Gates a let
Published 19 May, 2011 12:00am
India admits error in 'most-wanted' list

India admits error in 'most-wanted' list

India's home minister admitted an embarrassing mistake on Wednesday in a list of "most-wanted" fugitives thought to be hiding in Pakistan after a terror suspect was found living in Mumbai. India handed the list to Pakistan earlier this year but only made
Published 19 May, 2011 12:00am
India admits error in 'most-wanted' list

India admits error in 'most-wanted' list

India's home minister admitted an embarrassing mistake on Wednesday in a list of "most-wanted" fugitives thought to be hiding in Pakistan after a terror suspect was found living in Mumbai. India handed the list to Pakistan earlier this year but only made
Published 19 May, 2011 12:00am
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