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Archive - 2011-06-25
Wilhelm & Co IPO cancelled
Real Estate

Wilhelm & Co IPO cancelled

BRUSSELS : Belgian property group Wilhelm & Co has cancelled the flotation of a shopping centre, pouring cold water on h
Published 25 Jun, 2011 03:33pm
Hungary injects cash in Malev
Financial

Hungary injects cash in Malev

BUDAPEST : Hungary 's government has to inject 18.5 billion forints ($97.25 million) into loss-making airline Malev by
Published 25 Jun, 2011 01:47pm
Inflation reduction top priority
Asia

Inflation reduction top priority

BEIJING : China faces inflationary pressures and controlling them are a government's top policy priority, Vice Premier
Published 25 Jun, 2011 12:16pm
FM sees no leeway for tax cuts
Europe

FM sees no leeway for tax cuts

FRANKFURT : German Finance Minister Wolfgang Schaeuble warned coalition colleagues that the government cannot afford to
Published 25 Jun, 2011 11:45am
SBP announces conversion rates
Top News

SBP announces conversion rates

KARACHI: The State Bank of Pakistan (SBP) Saturday announced the rate applicable for conversion into rupees of foreign c
Published 25 Jun, 2011 11:42am
San Miguel to spend $300mn
Industry

San Miguel to spend $300mn

MANILA : San Miguel Corp will spend $300 million upgrading and developing an international airport complex near the tour
Published 25 Jun, 2011 11:18am
MQM boycotts Sindh Assembly session
Top News

MQM boycotts Sindh Assembly session

KARACHI : Lamenting the postponement of elections on two seats of Azad Jammu & Kashmir assembly reportedly for security
Published 25 Jun, 2011 11:14am
Two 8 kg bombs found in Gujranwala
Top News

Two 8 kg bombs found in Gujranwala

GUJRANWALA : The police here was investigating after two bombs, eight kg each, were found near a wall of a local madrass
Published 25 Jun, 2011 08:36am
Ukraine's former Prime Minister Tymoshenko goes on trial

Ukraine's former Prime Minister Tymoshenko goes on trial

Ukraine's ex-prime minister Yulia Tymoshenko on Friday went on trial for alleged abuse of power, denouncing her rival President Viktor Yanukovych as a coward fearing political competition. The former premier, known as the "Iron Lady", is accused of abuse
Published 25 Jun, 2011 12:00am
India to press ahead on nuclear power

India to press ahead on nuclear power

India's commerce minister called Thursday for more co-operation with the United States on nuclear energy and brushed aside talk of scrapping ambitious plans in the wake of Japan's Fukushima crisis. On a visit to Washington, Commerce Minister Anand Sharma
Published 25 Jun, 2011 12:00am
LulzSec computer hackers release Arizona state files

LulzSec computer hackers release Arizona state files

Computer hackers who have hit the websites of the CIA, US Senate, Sony and others have released hundreds of documents from the Arizona Department of Public Safety (AZDPS) in their latest cyberattack. The hacker group known as Lulz Security, which has clai
Published 25 Jun, 2011 12:00am
Google confirms US probe into search business

Google confirms US probe into search business

Google confirmed on Friday that the US Federal Trade Commission (FTC) has begun a review of the Internet giant's lucrative search and advertising business. "Yesterday, we received formal notification from the US Federal Trade Commission that it has begun
Published 25 Jun, 2011 12:00am
Yuan ends down

Yuan ends down

The yuan closed slightly down against the dollar on Friday after the People's Bank of China set a slightly weaker mid-point, but its decline lagged a 0.6 percent rise in the dollar index. That could be a sign the central bank still aims to control the pac
Published 25 Jun, 2011 12:00am
Won, ringgit down

Won, ringgit down

Emerging Asian currencies on Friday shrugged off gains in other markets after Greece clinched a deal with lenders to plug a looming funding gap, with the South Korean won and the Malaysian ringgit suffering from dollar-short covering. "Markets have no str
Published 25 Jun, 2011 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee ended down on Friday and could weaken further next week on choppy euro and month-end dollar demand from oil firms, but support for the rupee could come from local equities. The partially convertible rupee ended at 44.99/45.00 per dollar,
Published 25 Jun, 2011 12:00am
Swiss franc up

Swiss franc up

The Swiss franc rose against the euro on Friday, as a short-covering bounce in the single currency spurred by European leaders agreeing on a financial bailout package for Greece began to fade. Worries about debts in Greece pushed the franc to a record 1.1
Published 25 Jun, 2011 12:00am
Australian and New Zealand dollars struggle

Australian and New Zealand dollars struggle

The Australian and New Zealand dollars were caught in a tight trading range on Friday, failing to gain much momentum after having pared losses on news that Greece was a step closer to securing much needed financial aid. The New Zealand dollar last stood a
Published 25 Jun, 2011 12:00am
Dollar stays up in New York

Dollar stays up in New York

The dollar rose against the euro for a second straight session on Thursday but gains were curbed after Greece won consent of a team of European Union-International Monetary Fund inspectors for its new five-year austerity plan. Greece's agreement came afte
Published 25 Jun, 2011 12:00am
Midday trade in New York: Euro slides for third day

Midday trade in New York: Euro slides for third day

The euro declined against the dollar for a third straight session on Friday, weighed down by concerns Greece's parliament may not pass austerity measures needed for the country to secure more bailout funds from eurozone governments. In midday New York tra
Published 25 Jun, 2011 12:00am
Euro plummets in London

Euro plummets in London

The euro fell sharply on Friday as investors expressed doubt that Greece could execute the austerity measures needed for the debt-ridden country to secure a further bailout. Comments from a maverick Greek government MP, who said he would oppose the packag
Published 25 Jun, 2011 12:00am
Euro stays steady in Asia

Euro stays steady in Asia

The euro held steady against the dollar on Friday as a short-covering bounce stalled on lingering uncertainty about the fate of Greece's austerity plan, with signs of money market strains also seen as a potential downside risk for the single currency. The
Published 25 Jun, 2011 12:00am
Sterling gives up gains

Sterling gives up gains

Sterling headed towards its third straight day of losses against the dollar on Friday, as speculation over more monetary stimulus encouraged traders to unwind bullish positions, with every bounce drawing more sellers. Cable also tracked moves in the euro/
Published 25 Jun, 2011 12:00am
Money markets: ECB seen hiking just once this year

Money markets: ECB seen hiking just once this year

Eurozone money markets have priced out ECB interest rate hikes between July and the end of the year following a raft of weak data globally and expectations the Greek debt situation will remain precarious. The European Central Bank still looks set to raise
Published 25 Jun, 2011 12:00am
FTSE kept afloat by strong miners

FTSE kept afloat by strong miners

Strong miners propped up Britain's top shares on Friday, but overall sentiment was downbeat on concerns over the Italian banking sector and the passage of a Greek austerity plan. The UK benchmark index closed up 23.34 points, or 0.4 percent, at 5,697.72,
Published 25 Jun, 2011 12:00am
Indian shares climb

Indian shares climb

Indian shares logged their first weekly gain in three weeks, rising 2.9 percent on Friday, with support from global markets that displayed some relief after Greece reached an agreement for an austerity plan to avoid a debt default. Financials led the rise
Published 25 Jun, 2011 12:00am
Seoul shares end up 1.7 percent

Seoul shares end up 1.7 percent

Seoul shares ended up 1.7 percent on Friday on solid gains in technology and auto issues including Hynix Semiconductor and Hyundai Motor, but sharp falls in oil refiners such as SK Innovation weighed. The Korea Composite Stock Price Index finished up 1.7
Published 25 Jun, 2011 12:00am
China, Hong Kong shares soar

China, Hong Kong shares soar

China shares jumped on Friday, posting their biggest two-day gain in six months and boosting the market in Hong Kong, as comments from Chinese Premier Wen Jiabao fuelled hopes that Beijing's policy tightening was nearing an end.
Published 25 Jun, 2011 12:00am
Steady Prada debut bodes well for Ferragamo

Steady Prada debut bodes well for Ferragamo

Shares in Italian fashion house Prada rose as much as 1.3 percent on their first trading day, defying expectations for a weak start and auguring well for the Milan debut of smaller peer Ferragamo. Prada, the maker of luxury bags and Miu Miu dresses, raise
Published 25 Jun, 2011 12:00am
Steady Prada debut bodes well for Ferragamo

Steady Prada debut bodes well for Ferragamo

Shares in Italian fashion house Prada rose as much as 1.3 percent on their first trading day, defying expectations for a weak start and auguring well for the Milan debut of smaller peer Ferragamo. Prada, the maker of luxury bags and Miu Miu dresses, raise
Published 25 Jun, 2011 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks ended down 0.4 percent on Friday, pressured by TSMC which shed 1.75 percent after a broker downgrade and by plastics firms, offsetting a rise in transport shares. The main TAIEX index was down 34.45 points at 8,532.83, after opening flat.
Published 25 Jun, 2011 12:00am
European shares hit longest losing run since 1998

European shares hit longest losing run since 1998

European shares extended their losing run to eight weeks on Friday, the longest losing streak since 1998, as uncertainties about Greece's debt crisis persisted, and with Italian banks falling heavily. The FTSEurofirst 300 index of top European shares fell
Published 25 Jun, 2011 12:00am
Australian shares higher

Australian shares higher

Australian stocks firmed 0.2 percent and notched their first weekly gain in five weeks, helped by a bounce in afternoon trade after Asian markets rose sharply and indications were for a rise in European markets. "Miners and bank stocks came back in aftern
Published 25 Jun, 2011 12:00am
Wall Street reverses sharp sell-off

Wall Street reverses sharp sell-off

US stocks closed way off session lows on Thursday on news Greece agreed to a five-year austerity plan, but lingering economic uncertainty ultimately drove indexes mostly lower, keeping a downward trend in place. The Nasdaq wiped out all its losses, ending
Published 25 Jun, 2011 12:00am
Friday's midday trade: stocks drop

Friday's midday trade: stocks drop

US stocks dropped on Friday as worries about the Italian banking sector added to anxiety emanating from Europe about passage of a Greek austerity plan, and the S&P 500 once again tested a key technical level. Italian banks UniCredit SpA and Intesa Sanpaol
Published 25 Jun, 2011 12:00am
Nikkei rises to three-week high

Nikkei rises to three-week high

The Nikkei average rose to a three-week closing high on Friday, helped by news that Greece has agreed to a five-year austerity plan and as a fall in oil prices eased worries about a slowdown in the US economy. There was buying in large-cap shares, market
Published 25 Jun, 2011 12:00am
Treasuries move up

Treasuries move up

Despite late-breaking news that Greece reached a deal on a five-year austerity plan, the prices of safe-haven US Treasuries rose on Thursday as euro zone worries drove investors out of riskier assets. A Reuters report that Greece had reached an austerity
Published 25 Jun, 2011 12:00am
Treasuries move up

Treasuries move up

Despite late-breaking news that Greece reached a deal on a five-year austerity plan, the prices of safe-haven US Treasuries rose on Thursday as euro zone worries drove investors out of riskier assets. A Reuters report that Greece had reached an austerity
Published 25 Jun, 2011 12:00am
Southeast Asian markets soar

Southeast Asian markets soar

Southeast Asian stock markets edged higher on Friday as investors bought stocks expected to benefit from domestic consumption but resource shares pulled back as the weak global economic outlook depressed commodities. Risk appetite appeared weak, with mark
Published 25 Jun, 2011 12:00am
Thailand extends subsidies on transport, fuel

Thailand extends subsidies on transport, fuel

Thailand is to extend relief measures to help low-income Thais cope with the high cost of living, a senior Finance Ministry official said on Friday. Free public transport will continue for another six months from the end of this month and that would cost
Published 25 Jun, 2011 12:00am
China banks told to cut loans to property speculators

China banks told to cut loans to property speculators

China has reiterated orders to banks to curtail lending to property developers who are speculating on rising house prices to guard against overheating in the frothy sector. Clarifying media reports that regulators have asked banks to reduce lending to dev
Published 25 Jun, 2011 12:00am
Volvo to spend $708 million on second China plant

Volvo to spend $708 million on second China plant

Volvo, owned by China's Zhejiang Geely Holding Group, will invest $708 million to build a second plant in China, the world's biggest auto market, the environment ministry in Beijing said. The auto maker, which was bought by Geely last year, will pour 4.58
Published 25 Jun, 2011 12:00am
Italy's Draghi takes ECB helm, France keeps board seat

Italy's Draghi takes ECB helm, France keeps board seat

The EU on Friday appointed Italy's Mario Draghi the next European Central Bank president after France won a bid to keep a seat on the board of the key player in the debilitating eurozone debt crisis. EU president Herman Van Rompuy said Draghi would succee
Published 25 Jun, 2011 12:00am
India raises diesel prices

India raises diesel prices

India raised diesel prices nearly 8 percent on Friday after months of delay, a politically unpopular move that will add to inflationary pressure but also eases the government's subsidy burden and could bolster its image among wary investors.
Published 25 Jun, 2011 12:00am
Banks move closer to deal on Greek bailout

Banks move closer to deal on Greek bailout

Banks and policymakers moved closer to a deal on Friday to help Athens secure funds ahead of a parliamentary vote on austerity next week that Greek Prime Minister George Papandreou must win to avert default. Despite a refusal by the conservative oppositio
Published 25 Jun, 2011 12:00am
Japan's quake caused $210 billion in property damage

Japan's quake caused $210 billion in property damage

Japan's March 11 quake and tsunami disaster destroyed buildings and infrastructure worth about $210 billion, excluding costs caused by the Fukushima nuclear accident, the government said Friday. The 16.9 trillion yen bill estimate by the Cabinet office al
Published 25 Jun, 2011 12:00am
Apple files fresh lawsuit against Samsung

Apple files fresh lawsuit against Samsung

US technology giant Apple said Friday it has filed a lawsuit in South Korea claiming Samsung Electronics copied its products, in the latest round of an international legal battle between the pair. "We have filed a lawsuit against Samsung with the Seoul Ce
Published 25 Jun, 2011 12:00am
Oil release was 'sensible policy': Geithner

Oil release was 'sensible policy': Geithner

US Treasury Secretary Timothy Geithner said on Friday that the International Energy Agency's decision this week to release government-held crude oil reserves was "sensible policy." "It will provide some modest help and relief" to the US economy, Geithner
Published 25 Jun, 2011 12:00am
US data points to underlying factory strength

US data points to underlying factory strength

New orders for US manufactured goods and a gauge of business spending plans rose in May, easing fears of a sharp slowdown in factory activity. Durable goods orders increased 1.9 percent after dropping 2.7 percent in April, the Commerce Department said on
Published 25 Jun, 2011 12:00am
Obama launches technology partnership to spur US jobs

Obama launches technology partnership to spur US jobs

President Barack Obama on Friday launched an initiative to develop new US manufacturing jobs by teaming government up with companies and universities to invest more than $500 million in advanced technologies.
Published 25 Jun, 2011 12:00am
US wants former-mortgage boss to get life in prison

US wants former-mortgage boss to get life in prison

US prosecutors have urged a judge to send the former chairman of bankrupt Taylor, Bean & Whitaker Mortgage Corp to prison for the rest of his life for masterminding the $2.9 billion fraud scheme that took down the company.
Published 25 Jun, 2011 12:00am
China blurs A380 order, backs 747

China blurs A380 order, backs 747

China downgraded the announcement of an Airbus superjumbo order and signed up for the Boeing 747-8 as deals worth $9 billion coincided with a row over European emissions trading rules, industry sources said. The deals both involved parts of the HNA airlin
Published 25 Jun, 2011 12:00am
No deal on grain market

No deal on grain market

No business activity was seen on the wholesale grain and seed market on Friday as almost all the participants were busy in preparations for Juma prayers, grain and seed merchants group's press release said.
Published 25 Jun, 2011 12:00am
Active buying helps prices remain steady on cotton market

Active buying helps prices remain steady on cotton market

Mills active purchasing helped the rates to maintain steady trend on the cotton market on Friday in process of trading, dealers said. The Karachi Cotton Association (KCA) official spot rate was kept unchanged at Rs 8,500, they said. In Sindh price of new
Published 25 Jun, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 88,333 tonnes of cargo including 77,559 tonnes of import cargo, 10,774 tonnes of export cargo and 3,029 loaded & empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 77,559 tonnes comprise
Published 25 Jun, 2011 12:00am
India's coffee prices fall

India's coffee prices fall

Coffee prices in India eased at this week's auction tracking global cues, dealers said on Friday. On Thursday, Liffe September robusta coffee ended lower by $36 at $2,216 a tonne, after hitting $2,205 earlier in the session, the lowest level for the bench
Published 25 Jun, 2011 12:00am
Corn export premiums firm at US Gulf Coast

Corn export premiums firm at US Gulf Coast

Corn export premiums at the US Gulf Coast were steady to firm on Thursday, rising in tandem with a higher CIF basis, as the recent plunge in futures prices attracted fresh demand, traders said. Most of the demand for corn was domestic, although export inj
Published 25 Jun, 2011 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures fell to a five-week low on Thursday, reflecting early weakness in US grains, plunging crude oil futures and a bearish Canada planting report, traders said. July pared losses late and rose to a more than two-month high premium o
Published 25 Jun, 2011 12:00am
'Any fool can make money, but it takes a wise man to give it away'

'Any fool can make money, but it takes a wise man to give it away'

Philanthropy or if you like charity, despite being an integral part of the Muslim faith has to my knowledge not been studied adequately in terms of its social and historical contexts. Hourani noted in 1991 that "... social history is at least partly about
Published 25 Jun, 2011 12:00am
KARACHI CHRONICLE: What is KESC's game plan?

KARACHI CHRONICLE: What is KESC's game plan?

While the stand off between Karachi Electric Supply Company (KESC) and the labour union continues, the consumers suffer power cuts, loadshedding, complete blackouts lasting days on end and inflated bills, all of which is killing the economy of the city an
Published 25 Jun, 2011 12:00am
ART FACTS: Light and shadows

ART FACTS: Light and shadows

G N Qazi's selected theme for his recent exhibition touches the hearts of many sensitive people who also wants to create awareness about our heritage, and could not find a way. But Qazi has a way his canvas. His new work mainly contains scattered traditio
Published 25 Jun, 2011 12:00am
Building good personality traits during summer vacation

Building good personality traits during summer vacation

The summer vacation brings with it whistles of joy and happiness indicating freedom and independence from hectic schooling days and homework headache. Every child waits the beginning of summer vacation for all year long.
Published 25 Jun, 2011 12:00am
BRIDGE NOTES: Foresight

BRIDGE NOTES: Foresight

Analytical skill at bridge is not every one's forte. For in bridge when the dummy comes down after the defender on your left has made an opening lead, the declarer has many dark spots to enlighten. Of course he counts his losers and winners and then plans
Published 25 Jun, 2011 12:00am
New York cotton

New York cotton

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

Published 25 Jun, 2011 12:00am
New York cotton

New York cotton

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

Published 25 Jun, 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 25 Jun, 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 25 Jun, 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 Friday (June 24, 2011).

Published 25 Jun, 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 Friday (June 24, 2011).

Published 25 Jun, 2011 12:00am
Leaders agree to strengthen trilateral cooperation

Leaders agree to strengthen trilateral cooperation

Pakistan, Afghanistan and Iran on Friday agreed to expand and strengthen trilateral co-operation for peace, stability and development in the region. This was agreed during a trilateral meeting between President Asif Ali Zardari, Afghan President Hamid Kar
Published 25 Jun, 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 Friday (June 24, 2011).

Published 25 Jun, 2011 12:00am
Leaders agree to strengthen trilateral cooperation

Leaders agree to strengthen trilateral cooperation

Pakistan, Afghanistan and Iran on Friday agreed to expand and strengthen trilateral co-operation for peace, stability and development in the region. This was agreed during a trilateral meeting between President Asif Ali Zardari, Afghan President Hamid Kar
Published 25 Jun, 2011 12:00am
Pak-Iran gas pipeline: ILF Germany, Nespak begin working on feasibility

Pak-Iran gas pipeline: ILF Germany, Nespak begin working on feasibility

The National Engineering Services Pakistan (Nespak) and ILF Germany have started working on the feasibility study of Iran-Pakistan Gas Pipeline Project, which is scheduled for completion by the end of 2012, it has been learned. A senior official at the Pe
Published 25 Jun, 2011 12:00am
Pak-Iran gas pipeline: ILF Germany, Nespak begin working on feasibility

Pak-Iran gas pipeline: ILF Germany, Nespak begin working on feasibility

The National Engineering Services Pakistan (Nespak) and ILF Germany have started working on the feasibility study of Iran-Pakistan Gas Pipeline Project, which is scheduled for completion by the end of 2012, it has been learned. A senior official at the Pe
Published 25 Jun, 2011 12:00am
Pak-Iran gas pipeline: ILF Germany, Nespak begin working on feasibility

Pak-Iran gas pipeline: ILF Germany, Nespak begin working on feasibility

The National Engineering Services Pakistan (Nespak) and ILF Germany have started working on the feasibility study of Iran-Pakistan Gas Pipeline Project, which is scheduled for completion by the end of 2012, it has been learned. A senior official at the Pe
Published 25 Jun, 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 Friday (June 24, 2011).

Published 25 Jun, 2011 12:00am
Pakistan and India fail to achieve breakthrough: peace talks end

Pakistan and India fail to achieve breakthrough: peace talks end

The second round of peace talks between Pakistan and India concluded without any breakthrough but the two sides agreed to hold another round of dialogue ahead of foreign ministerial level talks in New Delhi next month besides reiterating the intention "to
Published 25 Jun, 2011 12:00am
Pakistan and India fail to achieve breakthrough: peace talks end

Pakistan and India fail to achieve breakthrough: peace talks end

The second round of peace talks between Pakistan and India concluded without any breakthrough but the two sides agreed to hold another round of dialogue ahead of foreign ministerial level talks in New Delhi next month besides reiterating the intention "to
Published 25 Jun, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (June 24, 2011).
Published 25 Jun, 2011 12:00am
Budget 2011-12: IMF seeks certain clarifications

Budget 2011-12: IMF seeks certain clarifications

The International Monetary Fund (IMF) while welcoming the Federal government's intention to reduce the budget deficit and ill-targeted subsidies has said that the Fund needs clarification on a number of elements before making a full assessment of the budg
Published 25 Jun, 2011 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Friday (June 24, 2011).

Published 25 Jun, 2011 12:00am
Budget 2011-12: IMF seeks certain clarifications

Budget 2011-12: IMF seeks certain clarifications

The International Monetary Fund (IMF) while welcoming the Federal government's intention to reduce the budget deficit and ill-targeted subsidies has said that the Fund needs clarification on a number of elements before making a full assessment of the budg
Published 25 Jun, 2011 12:00am
Budget 2011-12: IMF seeks certain clarifications

Budget 2011-12: IMF seeks certain clarifications

The International Monetary Fund (IMF) while welcoming the Federal government''s intention to reduce the budget deficit and ill-targeted subsidies has said that the Fund needs clarification on a number of elements before making a full assessment of the bud
Published 25 Jun, 2011 12:00am
Budget 2011-12: IMF seeks certain clarifications

Budget 2011-12: IMF seeks certain clarifications

The International Monetary Fund (IMF) while welcoming the Federal government''''s intention to reduce the budget deficit and ill-targeted subsidies has said that the Fund needs clarification on a number of elements before making a full assessment of the b
Published 25 Jun, 2011 12:00am
Rs 50 billion allocated for inter-Disco tariff differential

Rs 50 billion allocated for inter-Disco tariff differential

Finance Ministry has earmarked Rs 50 billion for inter-Disco tariff differential on the assumption of 12 percent increase in power tariff in the budget for the forthcoming financial year. The government allocated Rs 30 billion for tariff differential in t
Published 25 Jun, 2011 12:00am
Rs 50 billion allocated for inter-Disco tariff differential

Rs 50 billion allocated for inter-Disco tariff differential

Finance Ministry has earmarked Rs 50 billion for inter-Disco tariff differential on the assumption of 12 percent increase in power tariff in the budget for the forthcoming financial year. The government allocated Rs 30 billion for tariff differential in t
Published 25 Jun, 2011 12:00am
Rs 50 billion allocated for inter-Disco tariff differential

Rs 50 billion allocated for inter-Disco tariff differential

Finance Ministry has earmarked Rs 50 billion for inter-Disco tariff differential on the assumption of 12 percent increase in power tariff in the budget for the forthcoming financial year. The government allocated Rs 30 billion for tariff differential in t
Published 25 Jun, 2011 12:00am
Etisalat dispute: Shaikh-led body to seek resolution

Etisalat dispute: Shaikh-led body to seek resolution

Prime Minister, Syed Yousuf Raza Gilani, has constituted a third committee, now under the chairmanship of Finance Minister Dr Abdul Hafeez Shaikh, to resolve dispute with M/s Etisalat, which is still withholding $800 million government dues.
Published 25 Jun, 2011 12:00am
Etisalat dispute: Shaikh-led body to seek resolution

Etisalat dispute: Shaikh-led body to seek resolution

Prime Minister, Syed Yousuf Raza Gilani, has constituted a third committee, now under the chairmanship of Finance Minister Dr Abdul Hafeez Shaikh, to resolve dispute with M/s Etisalat, which is still withholding $800 million government dues.
Published 25 Jun, 2011 12:00am
Etisalat dispute: Shaikh-led body to seek resolution

Etisalat dispute: Shaikh-led body to seek resolution

Prime Minister, Syed Yousuf Raza Gilani, has constituted a third committee, now under the chairmanship of Finance Minister Dr Abdul Hafeez Shaikh, to resolve dispute with M/s Etisalat, which is still withholding $800 million government dues.
Published 25 Jun, 2011 12:00am
'Amnesty' schemes for ST, customs duty payment likely soon

'Amnesty' schemes for ST, customs duty payment likely soon

The Federal Board of Revenue (FBR) is planning to announce soon two amnesty schemes for the business community for payment of outstanding dues of sales tax and customs duty without penalty, default surcharge and additional tax. It is learnt that the FBR i
Published 25 Jun, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (June 24, 2011).

Published 25 Jun, 2011 12:00am
'Amnesty' schemes for ST, customs duty payment likely soon

'Amnesty' schemes for ST, customs duty payment likely soon

The Federal Board of Revenue (FBR) is planning to announce soon two amnesty schemes for the business community for payment of outstanding dues of sales tax and customs duty without penalty, default surcharge and additional tax. It is learnt that the FBR i
Published 25 Jun, 2011 12:00am
''Amnesty'' schemes for ST, customs duty payment likely soon

''Amnesty'' schemes for ST, customs duty payment likely soon

The Federal Board of Revenue (FBR) is planning to announce soon two amnesty schemes for the business community for payment of outstanding dues of sales tax and customs duty without penalty, default surcharge and additional tax. It is learnt that the FBR i
Published 25 Jun, 2011 12:00am
Index loses 44.16 points

Index loses 44.16 points

Investors on Karachi stock market on Friday opted for profit taking making the KSE-100 index lose 44.16 points to close at 12,464.26 point s. The market witnessed a mixed trend throughout the session with the index oscillating between 12,532.53 points int
Published 25 Jun, 2011 12:00am
Index loses 44.16 points

Index loses 44.16 points

Investors on Karachi stock market on Friday opted for profit taking making the KSE-100 index lose 44.16 points to close at 12,464.26 point s. The market witnessed a mixed trend throughout the session with the index oscillating between 12,532.53 points int
Published 25 Jun, 2011 12:00am
Index loses 44.16 points

Index loses 44.16 points

Investors on Karachi stock market on Friday opted for profit taking making the KSE-100 index lose 44.16 points to close at 12,464.26 point s. The market witnessed a mixed trend throughout the session with the index oscillating between 12,532.53 points int
Published 25 Jun, 2011 12:00am
BRIndex30 down 83.4 points

BRIndex30 down 83.4 points

On Friday, the BRIndex30 opened at 8,829.76 points. It touched the intra-day high of 8,887.36 points and low of 8,741.51 points and closed at 8,746.36 points with a net negative change -83.4 points, or -0.94 percent lower than previous close. The volume w
Published 25 Jun, 2011 12:00am
Proposed right issues

Proposed right issues

Right issues proposed by companies listed on Karachi Stock Exchange.

Published 25 Jun, 2011 12:00am
BRIndex30 down 83.4 points

BRIndex30 down 83.4 points

On Friday, the BRIndex30 opened at 8,829.76 points. It touched the intra-day high of 8,887.36 points and low of 8,741.51 points and closed at 8,746.36 points with a net negative change -83.4 points, or -0.94 percent lower than previous close. The volume w
Published 25 Jun, 2011 12:00am
Nine dead in Syria anti-Bashar demonstrations

Nine dead in Syria anti-Bashar demonstrations

Syrian security forces fired on protesters killing at least nine as thousands surged onto the streets across the nation after Friday prayers to demand the fall of President Bashar al-Assad's regime. The European Union also turned the heat on the Syrian re
Published 25 Jun, 2011 12:00am
Nine dead in Syria anti-Bashar demonstrations

Nine dead in Syria anti-Bashar demonstrations

Syrian security forces fired on protesters killing at least nine as thousands surged onto the streets across the nation after Friday prayers to demand the fall of President Bashar al-Assad's regime. The European Union also turned the heat on the Syrian re
Published 25 Jun, 2011 12:00am
Dividend/Bonus Announcements

Dividend/Bonus Announcements

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

Published 25 Jun, 2011 12:00am
Board Meetings

Board Meetings

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 25 Jun, 2011 12:00am
BOARD MEETINGS

BOARD MEETINGS

Board Meetings of Companies listed on the Karachi Stock Exchange.

Published 25 Jun, 2011 12:00am
Presentation

Presentation

Presentation at KSE auditorium (only for members and an authorised employee of the members).

Published 25 Jun, 2011 12:00am
Weight loss surgery may cure obese diabetics: study

Weight loss surgery may cure obese diabetics: study

Most obese people with diabetes will be cured of it by weight loss surgery, with gastric bypass surgery allowing more than 80 percent of patients to come off their diabetes medication, according to a study. The report in Archives of Surgery concerned a re
Published 25 Jun, 2011 12:00am
Weight loss surgery may cure obese diabetics: study

Weight loss surgery may cure obese diabetics: study

Most obese people with diabetes will be cured of it by weight loss surgery, with gastric bypass surgery allowing more than 80 percent of patients to come off their diabetes medication, according to a study. The report in Archives of Surgery concerned a re
Published 25 Jun, 2011 12:00am
No FED on white cement from July 1

No FED on white cement from July 1

The Federal Board of Revenue (FBR) has abolished federal excise duty (FED) on white cement from July 1, 2011. The FBR has issued SRO 633(I)/2011 for an amendment in SRO 474(I)/2009 dealing with exemption of FED on certain items. According to SRO 633(I)/20
Published 25 Jun, 2011 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Friday (June 24, 2011).

Published 25 Jun, 2011 12:00am
No FED on white cement from July 1

No FED on white cement from July 1

The Federal Board of Revenue (FBR) has abolished federal excise duty (FED) on white cement from July 1, 2011. The FBR has issued SRO 633(I)/2011 for an amendment in SRO 474(I)/2009 dealing with exemption of FED on certain items. According to SRO 633(I)/20
Published 25 Jun, 2011 12:00am
No FED on white cement from July 1

No FED on white cement from July 1

The Federal Board of Revenue (FBR) has abolished federal excise duty (FED) on white cement from July 1, 2011. The FBR has issued SRO 633(I)/2011 for an amendment in SRO 474(I)/2009 dealing with exemption of FED on certain items. According to SRO 633(I)/20
Published 25 Jun, 2011 12:00am
Talks on PTA: Indonesia and Pakistan hit deadlock

Talks on PTA: Indonesia and Pakistan hit deadlock

Pakistan and Indonesia have hit a deadlock in talks on a preferential trade agreement (PTA), which includes a duty cut on palm oil from Indonesia, officials from both countries said on Friday. An Indonesian trade ministry official said Indonesia has walke
Published 25 Jun, 2011 12:00am
Talks on PTA: Indonesia and Pakistan hit deadlock

Talks on PTA: Indonesia and Pakistan hit deadlock

Pakistan and Indonesia have hit a deadlock in talks on a preferential trade agreement (PTA), which includes a duty cut on palm oil from Indonesia, officials from both countries said on Friday. An Indonesian trade ministry official said Indonesia has walke
Published 25 Jun, 2011 12:00am
Talks on PTA: Indonesia and Pakistan hit deadlock

Talks on PTA: Indonesia and Pakistan hit deadlock

Pakistan and Indonesia have hit a deadlock in talks on a preferential trade agreement (PTA), which includes a duty cut on palm oil from Indonesia, officials from both countries said on Friday. An Indonesian trade ministry official said Indonesia has walke
Published 25 Jun, 2011 12:00am
Talks on PTA: Indonesia and Pakistan hit deadlock

Talks on PTA: Indonesia and Pakistan hit deadlock

Pakistan and Indonesia have hit a deadlock in talks on a preferential trade agreement (PTA), which includes a duty cut on palm oil from Indonesia, officials from both countries said on Friday. An Indonesian trade ministry official said Indonesia has walke
Published 25 Jun, 2011 12:00am
In inviting questions, Kayani following military tradition

In inviting questions, Kayani following military tradition

At the height of the storm which swept Pakistan after the May 2 killing of Osama bin Laden, army chief General Ashfaq Kayani spoke for 1-1/2 hours, then told his officers they could ask whatever they wanted, and lit a cigarette. "This is a very delicate s
Published 25 Jun, 2011 12:00am
THE RUPEE: all-round decline

THE RUPEE: all-round decline

All-round slide was seen on the currency market on Friday as the rupee came down versus dollar and euro, experts said. The rupee extended it fall in relation to dollar, losing eight paisa for buying at 85.80 and shed 10 paisa for selling at 85.85, they sa
Published 25 Jun, 2011 12:00am
In inviting questions, Kayani following military tradition

In inviting questions, Kayani following military tradition

At the height of the storm which swept Pakistan after the May 2 killing of Osama bin Laden, army chief General Ashfaq Kayani spoke for 1-1/2 hours, then told his officers they could ask whatever they wanted, and lit a cigarette. "This is a very delicate s
Published 25 Jun, 2011 12:00am
THE RUPEE: all-round decline

THE RUPEE: all-round decline

All-round slide was seen on the currency market on Friday as the rupee came down versus dollar and euro, experts said. The rupee extended it fall in relation to dollar, losing eight paisa for buying at 85.80 and shed 10 paisa for selling at 85.85, they sa
Published 25 Jun, 2011 12:00am
LSE index down 49.01 points

LSE index down 49.01 points

Equities on Friday failed to maintain upward slide on the Lahore Stock Exchange (LSE) and registered declines amid decreased trading turnover because of the investors' conscious behaviour who remained on the sideline. The LSE-25 index lost 49.01 points an
Published 25 Jun, 2011 12:00am
LSE index down 49.01 points

LSE index down 49.01 points

Equities on Friday failed to maintain upward slide on the Lahore Stock Exchange (LSE) and registered declines amid decreased trading turnover because of the investors' conscious behaviour who remained on the sideline. The LSE-25 index lost 49.01 points an
Published 25 Jun, 2011 12:00am
ISE index sheds 28.2 points

ISE index sheds 28.2 points

Bears dominated the proceedings at Islamabad Stock Exchange (ISE) on Friday where equities showed negative signs amid decrease in index. ISE-10 Index was down by 28.20 points from 2,781.83 points to 2753.63 points. Turnover amounted to 30,098 shares as co
Published 25 Jun, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (June 24, 2011).

Published 25 Jun, 2011 12:00am
ISE index sheds 28.2 points

ISE index sheds 28.2 points

Bears dominated the proceedings at Islamabad Stock Exchange (ISE) on Friday where equities showed negative signs amid decrease in index. ISE-10 Index was down by 28.20 points from 2,781.83 points to 2753.63 points. Turnover amounted to 30,098 shares as co
Published 25 Jun, 2011 12:00am
Shipping Intelligence

Shipping Intelligence

Karachi Shipping Intelligence report incorporating changes till 7 am on Friday (June 24, 2011).

Published 25 Jun, 2011 12:00am
ISPR rejects report on bin Laden's cellphone

ISPR rejects report on bin Laden's cellphone

The Pakistan army condemned on Friday a report in the New York Times that a cell phone found in the raid that killed Osama bin Laden contained contacts to a militant group with ties to Pakistan's intelligence agency. The newspaper, citing senior US offici
Published 25 Jun, 2011 12:00am
Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX

Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary on Friday (June 24, 2011).

Published 25 Jun, 2011 12:00am
ISPR rejects report on bin Laden's cellphone

ISPR rejects report on bin Laden's cellphone

The Pakistan army condemned on Friday a report in the New York Times that a cell phone found in the raid that killed Osama bin Laden contained contacts to a militant group with ties to Pakistan's intelligence agency. The newspaper, citing senior US offici
Published 25 Jun, 2011 12:00am
Contradiction

Contradiction

Apropos a news item "massive irregularities in appointments, promotions, payment and posting of staff in ZTBL", carried by Business Recorder on June 24, ZTBL Management strongly contradicts the news item and insists that staff hiring, promotions an
Published 25 Jun, 2011 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Friday (June 24, 2011).

Published 25 Jun, 2011 12:00am
Contradiction

Contradiction

Apropos a news item "massive irregularities in appointments, promotions, payment and posting of staff in ZTBL", carried by Business Recorder on June 24, ZTBL Management strongly contradicts the news item and insists that staff hiring, promotions an
Published 25 Jun, 2011 12:00am
Contradiction

Contradiction

Apropos a news item "massive irregularities in appointments, promotions, payment and posting of staff in ZTBL", carried by Business Recorder on June 24, ZTBL Management strongly contradicts the news item and insists that staff hiring, promotions an
Published 25 Jun, 2011 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Friday (June 24, 2011) and for Saturday (June 25, 2011).
Published 25 Jun, 2011 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Friday (June 24, 2011).

Published 25 Jun, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on June 21, 2011.

Published 25 Jun, 2011 12:00am
Millionaire having six bank accounts out of tax net!

Millionaire having six bank accounts out of tax net!

The Directorate General of Intelligence and Investigation, Inland Revenue has detected a unique case in Lahore where an undocumented person maintains six different bank accounts with Rs 60-70 million only in one bank account, remained untraced, sources sa
Published 25 Jun, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on June 21, 2011.

Published 25 Jun, 2011 12:00am
Millionaire having six bank accounts out of tax net!

Millionaire having six bank accounts out of tax net!

The Directorate General of Intelligence and Investigation, Inland Revenue has detected a unique case in Lahore where an undocumented person maintains six different bank accounts with Rs 60-70 million only in one bank account, remained untraced, sources sa
Published 25 Jun, 2011 12:00am
PQFTL announces unit prices

PQFTL announces unit prices

Pak-Qatar Family Takaful Managed Fund (PQFTL) announced unit prices for the following funds on June 21, 2011.

Published 25 Jun, 2011 12:00am
Millionaire having six bank accounts out of tax net!

Millionaire having six bank accounts out of tax net!

The Directorate General of Intelligence and Investigation, Inland Revenue has detected a unique case in Lahore where an undocumented person maintains six different bank accounts with Rs 60-70 million only in one bank account, remained untraced, sources sa
Published 25 Jun, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 25 Jun, 2011 12:00am
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