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Archive - 2011-09-23
Syria unable to buy fuel
Middle East

Syria unable to buy fuel

LONDON : Syria is seeking to side-step sanctions that are hampering business with foreign firms by bartering crude oil
Published 23 Sep, 2011 04:41pm
World stocks off 14-month lows
Top News

World stocks off 14-month lows

NEW YORK : World stocks came off 14-month lows on Friday on expectations policy-makers would take further action to ease
Published 23 Sep, 2011 04:08pm
Economic Growth Framework
Top News

Economic Growth Framework

HYDERABAD : Reforms in bureaucracy, a new approach, patriotism and vibrant and competitive markets are necessary to incr
Published 23 Sep, 2011 01:29pm
Seafood exports increase over 10pc
Top News

Seafood exports increase over 10pc

ISLAMABAD: Export of fish and fish preparations increased by 10.10 percent during the first two months of the current fi
Published 23 Sep, 2011 09:49am
SBP to buy govt paper in reverse repo
Top News

SBP to buy govt paper in reverse repo

KARACHI : State Bank of Pakistan 's (SBP) said it would buy government paper from commercial banks on Friday in 7-day r
Published 23 Sep, 2011 05:51am
Sudan hit by spiralling food prices
Top News

Sudan hit by spiralling food prices

KHARTOUM : In Khartoum 's main food market, loudspeakers blare out the price of meat in a bid to attract customers, but
Published 23 Sep, 2011 05:16am
Oil rebounds on bargain hunting
Energy

Oil rebounds on bargain hunting

SINGAPORE : Oil prices rose in Asian trade Friday as bargain hunters sought cheaper crude following recent steep falls,
Published 23 Sep, 2011 04:04am
T-bills auction
BR Research

T-bills auction

Take the goods the gods provide. A good case in point is the government of Pakistan, when it comes to borrowing from the domestic market. Wi
Published 23 Sep, 2011 12:00am
Shanghai copper falls

Shanghai copper falls

The most-active December copper contract on the Shanghai Futures Exchange closed 4.3 percent lower at 60,260 yuan a tonne on Thursday. It is down 16 percent this year.
Published 23 Sep, 2011 12:00am
US copper slips

US copper slips

US copper fell to near the day's lows in late trade on Wednesday, erasing most of the session's gains after the US Federal Reserve launched a widely expected $400 billion plan to buy long-term Treasuries while warning of "significant" dangers to the econo
Published 23 Sep, 2011 12:00am
New York cotton at 1-1/2 month low

New York cotton at 1-1/2 month low

Cotton futures finished at a 1-1/2 month low Thursday on investment fund liquidation sparked by worries over US economic growth and a slowdown as the manufacturing sector contracts in No 1 consumer China, brokers said. World stocks and commodities dove as
Published 23 Sep, 2011 12:00am
Suu Kyi wins international relations prize

Suu Kyi wins international relations prize

Myanmar democracy campaigner Aung San Suu Kyi has won this year's Chatham House prize for her contribution to the improvement of international relations, the British think-tank said Friday. The 66-year-old's fight to bring political change to Myanmar, for
Published 23 Sep, 2011 12:00am
Mass demonstration in Chile demanding more education aid

Mass demonstration in Chile demanding more education aid

Tens of thousands of students and teachers took to the streets in Chile's capital Santiago Thursday in a growing confrontation with the government over education spending that has already results in four months of marches. The demonstration, which organis
Published 23 Sep, 2011 12:00am
UBS trader 'sorry', faces new fraud charge

UBS trader 'sorry', faces new fraud charge

The trader accused of a $2.3 billion fraud at Swiss bank UBS is "sorry beyond words" over the losses, his lawyer said Thursday, as a court remanded him in custody for another month. Kweku Adoboli, 31, faced an additional charge of fraud as he made a brief
Published 23 Sep, 2011 12:00am
Qadhafi's former premier jailed after fleeing Libya

Qadhafi's former premier jailed after fleeing Libya

Libya's neighbour Tunisia jailed Muammar Qadhafi's former prime minister on Thursday, and Libya's new rulers said they were tightening their grip on the desert towns where Qadhafi himself may be hiding. In the highest profile detention of a Qadhafi associ
Published 23 Sep, 2011 12:00am
Fighting spreads in Sanaa, seven killed

Fighting spreads in Sanaa, seven killed

Fighting between pro- and anti-government forces spread through Yemen's capital on Thursday and snipers shot dead two protesters and wounded 14 others, diminishing the chances of a diplomatic solution to prevent the country sliding into civil war.
Published 23 Sep, 2011 12:00am
Bangladesh hit by strike over fuel price hike

Bangladesh hit by strike over fuel price hike

Thousands of police patrolled the streets of the Bangladeshi capital on Thursday as a nation-wide strike called by the main opposition party and its Islamist allies shut schools and businesses. The strike focused on rising fuel prices and the detention of
Published 23 Sep, 2011 12:00am
US, Turkey launch new Global Counterterrorism Forum

US, Turkey launch new Global Counterterrorism Forum

The United States and Turkey launched on Thursday a new counterterrorism conference in a fresh push to build efforts to fight terrorism in countries that shed dictatorship in the wake of the Arab Spring. US Secretary of State Hillary Rodham Clinton and Tu
Published 23 Sep, 2011 12:00am
Japan typhoon kills 11

Japan typhoon kills 11

A powerful typhoon that barrelled through Japan and threatened the crippled Fukushima nuclear power plant killed at least 11 people including a woman aged 101, officials and reports said Thursday. Typhoon Roke, which churned across the main island of Hons
Published 23 Sep, 2011 12:00am
IAEA states back post-Fukushima nuclear safety plan

IAEA states back post-Fukushima nuclear safety plan

The UN nuclear agency endorsed an action plan on Thursday to help strengthen global nuclear safety in the wake of Japan's Fukushima accident six months ago, despite criticism from some countries that it does not go far enough. The International Atomic Ene
Published 23 Sep, 2011 12:00am
Ahmadinejad attacks West, prompts walk-out

Ahmadinejad attacks West, prompts walk-out

Iranian President Mahmoud Ahmadinejad attacked Western powers on Thursday for a catalogue of misdeeds, but his address to the United Nations failed to mention Tehran's disputed nuclear programme. The US delegation walked out when Ahmadinejad said "arrogan
Published 23 Sep, 2011 12:00am
World needs tougher nuclear safety measures, says Sarkozy

World needs tougher nuclear safety measures, says Sarkozy

The international community must boost nuclear safety with mandatory safety inspections and a rapid action force to contain disasters like Japan's Fukushima accident, French President Nicolas Sarkozy said on Thursday. The International Atomic Energy Agenc
Published 23 Sep, 2011 12:00am
Western nations boycott UN racism conference

Western nations boycott UN racism conference

Racism remains a global "scourge," South Africa's President Jacob Zuma told a UN meeting Thursday which went ahead despite a boycott by the United States and other western nations fearing a diatribe against Israel. Zuma spoke as UN Secretary General Ban K
Published 23 Sep, 2011 12:00am
Dutch, Finns block Europe free-travel area expansion

Dutch, Finns block Europe free-travel area expansion

The expansion of Europe's passport-free travel area hit a road block on Thursday, with Bulgarian and Romanian dreams of joining the club rejected by nations critical of their crime-fighting records. Finland and the Netherlands refused at a meeting of EU i
Published 23 Sep, 2011 12:00am
UK police admit being slow to advise businesses in riots

UK police admit being slow to advise businesses in riots

Police on Thursday admitted they were too slow in telling small businesses what was happening during this summer's riots in London, promising to keep them better informed about any emergencies during next year's Olympics. Pictures of looters targeting sho
Published 23 Sep, 2011 12:00am
Mutual funds

Mutual funds

A mutual fund is a pool of money collected from several investors; the fund is managed by an asset management company. The money is invested in a variety of stocks, bonds and money market instruments. The stocks, bonds, and other assets which funds, own c
Published 23 Sep, 2011 12:00am
Mutual funds

Mutual funds

A mutual fund is a pool of money collected from several investors; the fund is managed by an asset management company. The money is invested in a variety of stocks, bonds and money market instruments. The stocks, bonds, and other assets which funds, own c
Published 23 Sep, 2011 12:00am
Hafeez meets Saudi Finance Minister

Hafeez meets Saudi Finance Minister

Finance Minister Abdul Hafeez Shaikh discussed advancing economic co-operation with his Saudi Arabian counterpart Dr Ibrahim Al-Asaf as the two countries agreed to further bolster bilateral ties. "We discussed trade and investment opportunities--and agree
Published 23 Sep, 2011 12:00am
Fee on goods clearance under WeBOC: FBR seeks Law Division's opinion

Fee on goods clearance under WeBOC: FBR seeks Law Division's opinion

The Federal Board of Revenue has sought opinion of Law and Justice Division for charging token fee/processing fee on clearance of imported consignments at Karachi under the Web Based One Customs (WeBOC) as per existing customs laws. Sources told Busine
Published 23 Sep, 2011 12:00am
Warnings mount on euro crisis, credit crunch

Warnings mount on euro crisis, credit crunch

The euro currency project is in danger due to member states' runaway spending and the resulting sovereign debt crisis, a European Central Bank study warned on Thursday amid mounting global calls on Europe to take more decisive action. The study, perhaps t
Published 23 Sep, 2011 12:00am
Private sector slowdown heightens recession fears

Private sector slowdown heightens recession fears

Private sector business activity in Europe and China declined sharply this month as the eurozone debt crisis and a stalling US recovery hit confidence, stoking fears that the global economy could sink back into recession. The eurozone's dominant service s
Published 23 Sep, 2011 12:00am
Turkey must tighten policy to meet inflation target: IMF

Turkey must tighten policy to meet inflation target: IMF

Turkey will need to tighten monetary policy in order to meet its inflation target next year, preferably by raising interest rates, the IMF said on Thursday, based on its year-end inflation forecasts of 8.5 percent for 2011 and 5.75 percent for 2012.
Published 23 Sep, 2011 12:00am
Eurozone orders, consumer data add to bleak outlook

Eurozone orders, consumer data add to bleak outlook

Eurozone industrial orders fell by more than expected in July and consumer morale worsened to a two-year low in September, adding to concerns that Europe maybe sliding toward recession. New orders in the 17 countries using the euro fell 2.1 percent compar
Published 23 Sep, 2011 12:00am
US jobless claims fall

US jobless claims fall

Americans filed fewer new claims for jobless benefits last week but the decline was not enough to dispel worries the economy was dangerously close to falling into a new recession. Applications for unemployment benefits dropped 9,000 to 423,000 in the week
Published 23 Sep, 2011 12:00am
Congress flirts with US shutdown after bill fails

Congress flirts with US shutdown after bill fails

Republican leaders were scrambling on Thursday to find the votes to keep the US government funded after the embarrassing defeat of a spending bill threw into question Congress' ability to pass basic laws. The House of Representatives and Senate must pass
Published 23 Sep, 2011 12:00am
AT&T, T-Mobile hire legal all-stars to save deal

AT&T, T-Mobile hire legal all-stars to save deal

AT&T Inc, Deutsche Telekom AG and T-Mobile USA have amassed an army of former senior government antitrust officials to try to save their $39 billion deal to combine wireless businesses. Questions abound for all sides: How strong is existing antitrust law?
Published 23 Sep, 2011 12:00am
Swiss investor sentiment sinks to near three-year low

Swiss investor sentiment sinks to near three-year low

Investors are becoming increasingly downbeat about the prospects for the Swiss economy, with no respondents in a survey issued on Thursday expecting growth in the next six months. The ZEW investor sentiment index sank to -75.7 points in September, its wea
Published 23 Sep, 2011 12:00am
Australia approves huge Chevron LNG project

Australia approves huge Chevron LNG project

US energy giant Chevron on Thursday won Australian government approval for its multi-billion dollar Wheatstone liquefied natural gas (LNG) project, but with strict environmental conditions. The nod clears one of the final hurdles before construction of th
Published 23 Sep, 2011 12:00am
Samsung wins $2.1 billion order in Saudi Arabia

Samsung wins $2.1 billion order in Saudi Arabia

South Korean builder Samsung C&T said Thursday it has secured a $2.1 billion deal to build a thermal power plant in Saudi Arabia. Samsung said it would build the 4,000 megawatt plant in Qurayyah by 2014. The deal was part of a Saudi project to build six p
Published 23 Sep, 2011 12:00am
Nielsen takes local mentoring role

Nielsen takes local mentoring role

Former Australian cricket coach Tim Nielsen signed with a regional development programme Thursday, fresh from his national resignation following a sweeping review of the sport. Two days after quitting as Australian coach, Nielsen said he would head South
Published 23 Sep, 2011 12:00am
Barca draw at Valencia, Real held

Barca draw at Valencia, Real held

Barcelona twice came from behind to rescue a point in a 2-2 draw at Valencia while Real Madrid dropped points again in a goalless affair at Racing Santander in La Liga on Wednesday. Barca missed the chance to go top at early pacesetters Valencia but will
Published 23 Sep, 2011 12:00am
League Cup wins for City, Liverpool and Chelsea

League Cup wins for City, Liverpool and Chelsea

Debutant Owen Hargreaves scored his first goal for more than three years and Mario Balotelli grabbed his first of the season as Manchester City beat holders Birmingham City 2-0 in a League Cup third round tie at the Etihad Stadium on Wednesday.
Published 23 Sep, 2011 12:00am
Wary Radcliffe brands rule change 'unfair'

Wary Radcliffe brands rule change 'unfair'

Marathon world record-holder Paula Radcliffe admitted Thursday she will race this weekend's Berlin marathon with some trepidation and said it is 'unfair' her record has been changed. Sunday's race will be Radcliffe's first marathon since New York in 2009.
Published 23 Sep, 2011 12:00am
Aussie keeper Haddin calls time on T20 career

Aussie keeper Haddin calls time on T20 career

Australian wicketkeeper Brad Haddin called time on his international Twenty20 career on Thursday to focus on One-day and Test cricket. Haddin played 25 times for Australia in Twenty20s - the last time against Sri Lanka in Kandy during the early stages of
Published 23 Sep, 2011 12:00am
India's great cricketer Pataudi dies

India's great cricketer Pataudi dies

Mansur Ali Khan Pataudi, one of India's most charismatic cricketers and a prolific batsman despite losing an eye, died on Thursday aged 70 following a lung disease, his doctors said. The former national team captain, better known as the Nawab of Pataudi,
Published 23 Sep, 2011 12:00am
India's great cricketer Pataudi dies

India's great cricketer Pataudi dies

Mansur Ali Khan Pataudi, one of India's most charismatic cricketers and a prolific batsman despite losing an eye, died on Thursday aged 70 following a lung disease, his doctors said. The former national team captain, better known as the Nawab of Pataudi,
Published 23 Sep, 2011 12:00am
India''s great cricketer Pataudi dies

India''s great cricketer Pataudi dies

Mansur Ali Khan Pataudi, one of India''s most charismatic cricketers and a prolific batsman despite losing an eye, died on Thursday aged 70 following a lung disease, his doctors said. The former national team captain, better known as the Nawab of Pataudi,
Published 23 Sep, 2011 12:00am
Boks break their World Cup record with rout of Namibia

Boks break their World Cup record with rout of Namibia

Defending champions South Africa trumped their own World Cup points record with an 87-0 blitz of doughty Namibia to all but book a place in the quarter-finals at North Harbour on Thursday. The Springboks didn't quite replicate their landslide 105-13 15-tr
Published 23 Sep, 2011 12:00am
Clarke wants a say on new coach

Clarke wants a say on new coach

Australian Test captain Michael Clarke has said he wants a say on who the new team coach will be but stopped short of nominating a candidate, as Steve Rixon emerged as a frontrunner. The team is looking for a new mentor after Tim Nielsen decided to step d
Published 23 Sep, 2011 12:00am
Ranieri vows to bring back real Inter

Ranieri vows to bring back real Inter

New Inter Milan coach Claudio Ranieri has vowed to get the team back to playing their best again following their disastrous start under Gian Piero Gasperini. Ranieri was speaking on a TV programme in the early hours of Thursday morning before being offici
Published 23 Sep, 2011 12:00am
Old Trafford to host 2013 Ashes Test

Old Trafford to host 2013 Ashes Test

Test cricket will return to Old Trafford in 2013 after England cricket chiefs awarded an Ashes Test to the famous Manchester venue, it was confirmed Thursday. The home of Lancashire cricket has been used sparingly by England in recent years, playing host
Published 23 Sep, 2011 12:00am
English football protege suspended for racism

English football protege suspended for racism

Austrian first division club Wiener Neustadt announced Thursday they have suspended a gifted young footballer from their team for racism. English-born Nikon 'El Maestro', whose parents are from Serbia, was suspended for using video-sharing site YouTube to
Published 23 Sep, 2011 12:00am
Strike fixtures to cut short Christmas break

Strike fixtures to cut short Christmas break

Italian Serie A footballers will pay for their strike action earlier this season by having their Christmas break shortened. The first round of matches in August were postponed after players chose to strike due to the failure to agree a new collective cont
Published 23 Sep, 2011 12:00am
One-year NDFs imply yuan fall

One-year NDFs imply yuan fall

Benchmark one-year Offshore dollar/yuan forwards jumped on Thursday, implying that the yuan will depreciate in 12 months for the first time in 2-1/2 years. Sentiment towards yuan appreciation against the dollar, which had remained very strong for the bulk
Published 23 Sep, 2011 12:00am
Won at one-year low

Won at one-year low

Most offshore funds stepped up the pace of reducing exposure to emerging Asian currencies on spot and non-deliverable forward (NDF) markets on Thursday, pushing the South Korean won to a one-year low and giving the Taiwan dollar its worst day in more than
Published 23 Sep, 2011 12:00am
Indian rupee tumbles

Indian rupee tumbles

The Indian rupee suffered its biggest single session fall in nearly three years on Thursday after a grim outlook on the US economy sent investors scrambling for safer currencies and government bonds. The partially convertible rupee ended at 49.57/58 to a
Published 23 Sep, 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 Thursday. 75.03-75.10 (previous 75.00-75.02). Call Money Rates: 6.50-9.00 percent (previous 5.00-9.50 percent).
Published 23 Sep, 2011 12:00am
Dollar up versus euro, yen

Dollar up versus euro, yen

The dollar rose against the euro and yen on Wednesday, buoyed by the appeal of higher short-term rates, after the US Federal Reserve, as widely expected, said it would shift its portfolio in favour of long-term debt. The Fed unveiled a program, dubbed "Op
Published 23 Sep, 2011 12:00am
Early afternoon trade in New York: dollar rallies broadly

Early afternoon trade in New York: dollar rallies broadly

The dollar bounced broadly on Thursday while the euro tumbled to an eight-month low as mounting concerns about the global economy drove investors to seek safety and liquidity. The euro slid through the 50 percent retracement level of the move from the Jun
Published 23 Sep, 2011 12:00am
Dollar rises broadly in London

Dollar rises broadly in London

The dollar rallied broadly on Thursday, hitting an eight-month high versus the euro as escalating concerns about downside risks to the global economy prompted investors to dump riskier units in favour of the world's most liquid currency. A warning by the
Published 23 Sep, 2011 12:00am
Dollar climbs in Asia

Dollar climbs in Asia

The dollar climbed to a seven-month high against major currencies after the Federal Reserve said there were "significant downside risks" for the US economy, but it stopped short of bold monetary easing, instead shifting its portfolio in favour of long-ter
Published 23 Sep, 2011 12:00am
Sterling at one-year low

Sterling at one-year low

Sterling hit a one-year low against the dollar and a record low versus the yen on Thursday after the Federal Reserve warned of significant weakness in the US economy, prompting investors to slash exposure to riskier currencies and assets. The pound tumble
Published 23 Sep, 2011 12:00am
Money markets extend bets

Money markets extend bets

Markets extended bets on Thursday on a eurozone interest rate cut, with analysts saying the latest bout of easing by the Federal Reserve and signs the Bank of England will follow suit left the European Central Bank looking behind the curve. Markets fully
Published 23 Sep, 2011 12:00am
FTSE slides to five-week low

FTSE slides to five-week low

A toxic cocktail comprising a grim economic outlook from the US Federal Reserve and downbeat data in China left Britain's top shares nursing a near 5-percent drop on Thursday, as investors pinned some hopes on this week's G20 meeting. Commodity stocks, se
Published 23 Sep, 2011 12:00am
South East Asian markets: Indonesia tumbles five percent

South East Asian markets: Indonesia tumbles five percent

Indonesia stocks tumbled more than 5 percent on Thursday, wiping out all their gains this year as concerns over the struggling rupiah currency and fears over the global economy heightened risks in a market that had been the region's best performer. Other
Published 23 Sep, 2011 12:00am
Seoul shares drop three percent

Seoul shares drop three percent

Seoul shares fell on Thursday as the Federal Reserve's warning that the United States faced a gloomy economic outlook spooked investors and data from China offered more evidence of a slowdown. The main KOSPI index will likely trade around the low-1,800 po
Published 23 Sep, 2011 12:00am
European shares slump to 26-month low

European shares slump to 26-month low

European shares slumped to a 26-month closing low on Thursday after a gloomy economic outlook from the US Federal Reserve and weak data from China and Europe spooked investors. The Fed said overnight, it now saw "significant" downside risks to the economy
Published 23 Sep, 2011 12:00am
Nikkei drops two percent

Nikkei drops two percent

The Nikkei stock average lost more than 2 percent on Thursday after the Federal Reserve cited significant risks to the US economy, while Softbank Corp plunged to its lowest since July 2010 on a report it would lose exclusive rights to sell the iPhone in J
Published 23 Sep, 2011 12:00am
Hong Kong, China shares slump

Hong Kong, China shares slump

Hong Kong and China shares tumbled on Thursday as investors sold off mainland property and banking names, with the Hang Seng Index hitting its lowest point since July 2009. On a day when economic gloom spawned a rout in Asian equities and Hong Kong had it
Published 23 Sep, 2011 12:00am
Long-dated US bonds soar

Long-dated US bonds soar

Long-dated US Treasuries soared in price and benchmark 10-year note yields fell to their lowest in over 60 years on Wednesday after the Federal Reserve said it will launch a new $400 billion bond purchase program. The Fed said it will tilt its $2.85 trill
Published 23 Sep, 2011 12:00am
Long-dated US bonds soar

Long-dated US bonds soar

Long-dated US Treasuries soared in price and benchmark 10-year note yields fell to their lowest in over 60 years on Wednesday after the Federal Reserve said it will launch a new $400 billion bond purchase program. The Fed said it will tilt its $2.85 trill
Published 23 Sep, 2011 12:00am
Australian shares at 26-month low

Australian shares at 26-month low

Australian shares slumped 2.6 percent to their lowest close in 26 months on Thursday, as evidence of a slowdown in China and a warning from the Federal Reserve that the United States faced a grim economic outlook rattled investors. Shares started weak aft
Published 23 Sep, 2011 12:00am
US stocks suffer worst drop in a month

US stocks suffer worst drop in a month

US stocks suffered their worst drop in a month after the Federal Reserve said there were "significant downside risks" to the economy even as it took another stab at boosting growth. Selling accelerated as volume spiked in the last hour of trading, with ba
Published 23 Sep, 2011 12:00am
Thursday's early afternoon trade: Wall Street falls three percent

Thursday's early afternoon trade: Wall Street falls three percent

US stocks dived more than 3 percent on Thursday, extending losses for a fourth day, as a bleak outlook from the Federal Reserve and weak data from China heightened fears of a global recession. In one sign of the broad gloom, FedEx Corp fell 9 percent to $
Published 23 Sep, 2011 12:00am
Taiwan stocks tumble

Taiwan stocks tumble

Taiwan stocks tumbled 3.06 percent on Thursday, weighed down by cement and oil counters, as investors took fright at a warning from the Federal Reserve over the health of the US economy. The Taiwan dollar weakened 1.31 percent to T$30.343, the lowest intr
Published 23 Sep, 2011 12:00am
Indian shares dive 4.1 percent

Indian shares dive 4.1 percent

Indian shares slumped 4.1 percent on Thursday in their biggest one-day slide in more than two years as investors fled risky assets across global markets on a grim US economic outlook and slowing manufacturing growth in China. A sputtering US economy and h
Published 23 Sep, 2011 12:00am
New Zealand economy slows in second quarter

New Zealand economy slows in second quarter

New Zealand's economy slowed sharply in the quarter ended June, sending the currency sliding and backing views that the central bank will keep interest rates low for longer in the face of global uncertainty. Gross domestic product rose a seasonally adjust
Published 23 Sep, 2011 12:00am
Brazil joblessness steady

Brazil joblessness steady

Brazil's low joblessness rate held steady in August from July, as wages continued the advance that has pressured inflation and worries policymakers. Brazil's jobless rate held at 6 percent in August from July, the government's statistics agency IBGE said
Published 23 Sep, 2011 12:00am
China's Sany Heavy pulls $3.3 billion share sale on market slump

China's Sany Heavy pulls $3.3 billion share sale on market slump

China's Sany Heavy Industry Co Ltd has postponed its up to $3.3 billion Hong Kong share offering due to tumbling global markets, three sources with direct knowledge of the decision said on Thursday. The company, China's largest construction machinery make
Published 23 Sep, 2011 12:00am
China's Sany Heavy pulls $3.3 billion share sale on market slump

China's Sany Heavy pulls $3.3 billion share sale on market slump

China's Sany Heavy Industry Co Ltd has postponed its up to $3.3 billion Hong Kong share offering due to tumbling global markets, three sources with direct knowledge of the decision said on Thursday. The company, China's largest construction machinery make
Published 23 Sep, 2011 12:00am
US CFTC compromises of parts of speculative curbs

US CFTC compromises of parts of speculative curbs

US futures regulators are yielding to banks and other major traders of commodities on several key provisions in a plan to crack down on speculation, but are holding their ground on the need to forge ahead with position limits. A draft of the Commodity Fut
Published 23 Sep, 2011 12:00am
Prices sag on cotton market

Prices sag on cotton market

A sagging tendency on the cotton market was pronounced on the domestic market which was also in line with the global reduction in cotton values in recent sessions. A clearly negative scenario on the global economic front seems to have induced decline in f
Published 23 Sep, 2011 12:00am
Prices sag on cotton market

Prices sag on cotton market

A sagging tendency on the cotton market was pronounced on the domestic market which was also in line with the global reduction in cotton values in recent sessions. A clearly negative scenario on the global economic front seems to have induced decline in f
Published 23 Sep, 2011 12:00am
Oil cake market rates

Oil cake market rates

The December vaida continued its fall and January contract was unchanged on the forward cottonseed oilcake market on Thursday in process of trading, dealers said. The December contract that had ended at Rs 1314.50 commenced with a fall of 50 paisa at Rs 1
Published 23 Sep, 2011 12:00am
Bangladesh to buy wheat from Ukraine

Bangladesh to buy wheat from Ukraine

Bangladesh will import 100,000 tonnes of wheat from Ukraine at $320 a tonne, including CIF, in its first government-to-government wheat deal with Kiev, a top procurement official said on Thursday. "We have already signed the deal and shipment will start s
Published 23 Sep, 2011 12:00am
Moong punjab, rapeseed higher on grain market

Moong punjab, rapeseed higher on grain market

Rising trend was seen on the wholesale grain market on Thursday in process of slow trading, dealers said. On the cereal side moong Punjab gained Rs 500 to Rs 6500, other commodities maintained overnight levels in process of trading, they said. On the seed
Published 23 Sep, 2011 12:00am
HRW wheat bids steady to firmer

HRW wheat bids steady to firmer

Hard red winter wheat basis bids were steady to firmer Thursday as some dealers sought to bring in bushels out of the country. Farmers were holding tight to supplies awaiting higher prices. Substitution of hard red winter wheat for spring wheat remained a
Published 23 Sep, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 63,683 tonnes of cargo including 49,632 tonnes of import cargo, 14,051 tonnes of export cargo and 2,085 loaded & empty containers during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 49,632 tonnes compri
Published 23 Sep, 2011 12:00am
Issues and potential of Islamic home finance in Pakistan

Issues and potential of Islamic home finance in Pakistan

Pakistan witnessed a real estate boom during 2003-2007. Property prices skyrocketed across the country and to buy a home was a step beyond the bounds of possibility for an ordinary Pakistani. The expatriate Pakistanis invested their money in real estate a
Published 23 Sep, 2011 12:00am
What is Islamic Banking?

What is Islamic Banking?

Branch Manager, Islamic Banking Branch, National Bank of Pakistan
Published 23 Sep, 2011 12:00am
New York cotton

New York cotton

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

Published 23 Sep, 2011 12:00am
New York cotton

New York cotton

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

Published 23 Sep, 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 23 Sep, 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 23 Sep, 2011 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (September 22, 2011).

Published 23 Sep, 2011 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Thursday (September 22, 2011).

Published 23 Sep, 2011 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (September 22, 2011).

Published 23 Sep, 2011 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Thursday (September 22, 2011).

Published 23 Sep, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (September 22, 2011).
Published 23 Sep, 2011 12:00am
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