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Archive - 2011-12-10
Exporters fear fall in kinnoo exports
Top News

Exporters fear fall in kinnoo exports

KARACHI: Kinnoo exporters have expressed fear that kinnoo exports may decline from the current year target of $ 200 mill
Published 10 Dec, 2011 03:02pm
Gold slips to Rs 49,200
Markets

Gold slips to Rs 49,200

KARACHI: Gold slipped by Rs 171 to close at Rs 49,200 per 10 grams in the local market Friday, as its international pric
Published 10 Dec, 2011 01:49pm
NOC issued for Livestock Complex
Top News

NOC issued for Livestock Complex

MULTAN: The Livestock Department secretary on Saturday issued a no objection certificate (NOC) for construction of a Liv
Published 10 Dec, 2011 12:50pm
Pakistan-China ties as strong as ever
Top News

Pakistan-China ties as strong as ever

BEIJING: The friendly relations between Pakistan and China have reached new heights, Ambassador Masood Khan, said in an
Published 10 Dec, 2011 09:05am
41 Syrian civilians killed in one day
Top News

41 Syrian civilians killed in one day

NICOSIA: At least 41 civilians including seven children were shot dead on Friday by Syrian security forces in the capita
Published 10 Dec, 2011 07:42am
Worries grow over IMF loans to Europe
Top News

Worries grow over IMF loans to Europe

WASHINGTON: The prospect of European heavyweights like Italy or Spain turning to the IMF for rescue loans is worrying th
Published 10 Dec, 2011 05:20am
Police clear Occupy Boston camp
Top News

Police clear Occupy Boston camp

BOSTON: Police arrested dozens of people early Saturday as they cleared away the remaining Occupy Boston encampment in t
Published 10 Dec, 2011 04:40am
Pakistan witnesses total lunar eclipse
Top News

Pakistan witnesses total lunar eclipse

KARACHI : The heavens gifted a rare event at the end of 2011 when Pakistan witnessed a total lunar eclipse as the eart
Published 10 Dec, 2011 04:38am
Index gains 72.04 points
Markets

Index gains 72.04 points

RECORDER REPORT KARACHI: After witnessing a highly volatile session on Friday, the KSE-100 index closed at 11,464.61
Published 10 Dec, 2011 04:37am
Pakistan's Nov trade deficit $2.17bn
Top News

Pakistan's Nov trade deficit $2.17bn

ISLAMABAD: Pakistan's trade deficit widened to $2.17 billion in November, from $1.71 billion in October, according to th
Published 10 Dec, 2011 04:35am
Kabila wins disputed poll: Congo
Top News

Kabila wins disputed poll: Congo

KINSHASA: Clashes between opposition protesters and security forces broke out in parts of Democratic Republic of Congo o
Published 10 Dec, 2011 04:33am
PSO receivables rise to Rs173bn
Top News

PSO receivables rise to Rs173bn

ABDUL RASHEED AZAD ISLAMABAD: The Pakistan State Oil (PSO) paid about Rs 5 billion to Kuwait Petroleum Company (KPC)
Published 10 Dec, 2011 04:30am
Injured Vettori out for month
Cricket

Injured Vettori out for month

HOBART: Allrounder Daniel Vettori will be out for up to a month with a hamstring injury, New Zealand Cricket said Saturd
Published 10 Dec, 2011 04:28am
Two hurt in bomb blast in Karachi
Top News

Two hurt in bomb blast in Karachi

KARACHI: A low-intensity bomb attack in Pakistan's biggest city of Karachi on Saturday wounded two people and caused pan
Published 10 Dec, 2011 04:26am
China trade surplus narrows to $14.5bn
Top News

China trade surplus narrows to $14.5bn

BEIJING: China's politically sensitive trade surplus narrowed to $14.5 billion in November, Dow Jones newswires reported
Published 10 Dec, 2011 03:53am
Indian rupee rebounds

Indian rupee rebounds

The Indian rupee recovered from the day's lows on Friday after European leaders reached a deal on tighter eurozone budget rules, and on reports that China's central bank plans to create a new vehicle to manage investment funds. The partially convertible c
Published 10 Dec, 2011 12:00am
Aussie, New Zealand dollars fall

Aussie, New Zealand dollars fall

The Australian and New Zealand dollars fell to fresh one-week lows in choppy trade on Friday as markets reacted to a flurry of headlines on a crucial EU summit aimed at resolving the region's debt crisis. The Aussie fell as far as $1.0090, from $1.0173 la
Published 10 Dec, 2011 12:00am
Euro tumbles in New York

Euro tumbles in New York

The euro fell the most against the dollar in almost two weeks on Thursday after the European Central Bank chief threw cold water on hopes of bold actions to contain the eurozone debt crisis. Investors, however, refrained from selling the single currency m
Published 10 Dec, 2011 12:00am
Early trade in New York: euro edges up

Early trade in New York: euro edges up

The euro gained on Friday on speculation a new Chinese investment vehicle could provide funding to heavily indebted eurozone countries, but an agreement by European leaders failed to allay investor concerns about the debt crisis. The single currency hit a
Published 10 Dec, 2011 12:00am
Euro rises in London

Euro rises in London

The euro rose on Friday on speculation that a new Chinese investment vehicle could provide much-needed funding to heavily indebted eurozone countries but it was still vulnerable while a resounding solution to the bloc's debt crisis remained elusive.
Published 10 Dec, 2011 12:00am
Euro licks wounds in Asia

Euro licks wounds in Asia

The euro nursed hefty losses in Asia on Friday ahead of an all-important EU summit, after the European Central Bank poured cold water on hopes it will buy up more bonds of debt-laden eurozone states, a step some deem essential to containing the debt crisi
Published 10 Dec, 2011 12:00am
Sterling steadies

Sterling steadies

Sterling pared gains against the dollar on Friday, retreating from a session high hit on speculation of a Chinese investment vehicle providing funding to eurozone countries, as risk sentiment wavered following a European summit. The pound tracked moves in
Published 10 Dec, 2011 12:00am
Yuan ends down

Yuan ends down

The yuan ended down slightly against the dollar on Friday after the Chinese central bank set a weaker mid-point, and as worries that the eurozone might be shrinking faster than thought continued to fuel buying in the US currency. Market watchers have grow
Published 10 Dec, 2011 12:00am
FTSE up

FTSE up

Britain's top share index rose on Friday as investors took the positives out of agreements at the European summit. Talk of potential Chinese investment in Europe and improving economic data in the US also lifted sentiment. While not the emphatic solution
Published 10 Dec, 2011 12:00am
Australian shares drop

Australian shares drop

Australian shares dropped 1.8 percent on Friday to its lowest close in more than two weeks on growing doubts that European leaders will forge a credible plan to solve the eurozone's debt crisis at a summit due to continue later in the day. The index dropp
Published 10 Dec, 2011 12:00am
Seoul shares slide

Seoul shares slide

Seoul shares fell on Friday after hopes for a European Union summit faded in the wake of a failed compromise on a treaty change, and as debt-easing measures by Europe's central bank failed to live up to investor expectations. "There wasn't much of a picku
Published 10 Dec, 2011 12:00am
EU deal brings relief rally to European shares

EU deal brings relief rally to European shares

European shares rose on Friday in a tentative relief rally, recouping some of the losses in the previous session after a majority of European leaders agreed to work towards stricter budget discipline at a crucial summit. Stocks also got some support after
Published 10 Dec, 2011 12:00am
Nikkei drops 1.5 percent

Nikkei drops 1.5 percent

Japan's Nikkei average fell on Friday and tested key support at its 25-day moving average after European leaders' agreement for fiscal integration failed to boost investor confidence about the eurozone debt crisis. Trade volume spiked on the Tokyo exchang
Published 10 Dec, 2011 12:00am
Indian shares fall 1.7 percent

Indian shares fall 1.7 percent

Indian shares extended losses to the second day and closed 1.7 percent lower on Friday as concerns over a slowdown in the economy intensified after the finance ministry cut the country's growth forecast for the current fiscal year. The economy is likely t
Published 10 Dec, 2011 12:00am
US bond prices gain

US bond prices gain

US Treasuries prices gained on Thursday after the European Central Bank dashed hopes of a broad bond purchase program and investors reduced expectations that eurozone leaders will present a far-reaching solution to contain the region's debt crisis. ECB Pr
Published 10 Dec, 2011 12:00am
US bond prices gain

US bond prices gain

US Treasuries prices gained on Thursday after the European Central Bank dashed hopes of a broad bond purchase program and investors reduced expectations that eurozone leaders will present a far-reaching solution to contain the region's debt crisis. ECB Pr
Published 10 Dec, 2011 12:00am
Taiwan stocks sag

Taiwan stocks sag

Taiwan stocks ended down 1.28 percent on Friday, joining regional peers in declines amid doubts over whether European leaders can deliver a credible solution to the region's debt crisis. UMC, the world's No 2 contract chipmaker, slipped 2.7 percent after
Published 10 Dec, 2011 12:00am
Dow tumbles

Dow tumbles

Wall Street fell on Thursday after the European Central Bank dashed hopes that policy-makers were preparing a financial "bazooka" to contain the debt crisis, and Germany rejected some proposals to add power to the eurozone's bailout fund. US markets have
Published 10 Dec, 2011 12:00am
Friday's afternoon trade: Wall Street springs back

Friday's afternoon trade: Wall Street springs back

US stocks advanced Friday as European Union leaders agreed on measures to address the region's sovereign debt crisis, while US consumer confidence rose to its highest level in six months. "Nothing really concrete has come out of that meeting yet, so it is
Published 10 Dec, 2011 12:00am
Hong Kong shares lower

Hong Kong shares lower

Hong Kong shares fell 2.7 percent on Friday, as investors spooked by disappointing results from meetings of European leaders pushed the Hang Seng Index below a support level that had held for a week. Top beta plays saw losses accelerate after the European
Published 10 Dec, 2011 12:00am
Southeast Asian stocks fall

Southeast Asian stocks fall

Southeast Asian stock markets fell on Friday on growing doubts that European leaders will be able to forge a credible scheme to contain the eurozone's debt crisis at a summit in Brussels. Major share markets extended their weaknesses for a second session,
Published 10 Dec, 2011 12:00am
China's inflation tumbles to lowest since September 2010

China's inflation tumbles to lowest since September 2010

China's industrial output growth dropped in November to its slowest pace in more than two years and inflation tumbled as economic conditions deteriorated, raising expectations that Beijing will pursue a more pro-growth policy to support jobs.
Published 10 Dec, 2011 12:00am
Central bank to create $300 billion FX investment vehicle

Central bank to create $300 billion FX investment vehicle

China's central bank plans to create a new vehicle to manage investment funds worth a total of $300 billion to improve returns on the world's largest stockpile of foreign exchange reserves, a source with knowledge of the matter told Reuters.
Published 10 Dec, 2011 12:00am
Saudi Arabia to supply full crude volumes to Asia

Saudi Arabia to supply full crude volumes to Asia

Top oil exporter Saudi Arabia will supply full contracted volumes of crude in January to top Asian buyers, but it was unclear if sales in the first month of deliveries against new 2012 contracts would indicate much of an increase in the flow. The kingdom
Published 10 Dec, 2011 12:00am
Ford recalls 129,000 sedans

Ford recalls 129,000 sedans

Ford Motor Co recalled nearly 129,000 Ford Fusion and Mercury Milan sedans in the United States citing a risk that the wheels may fall off, US safety regulators said on Friday. These cars, from the model year 2010 and 2011, are equipped with 17-inch steel
Published 10 Dec, 2011 12:00am
US consumer sentiment improves; trade gap narrows

US consumer sentiment improves; trade gap narrows

An index of consumer sentiment rose to its highest in six months in early December and the trade deficit narrowed in October in the latest signs that the US economy's health is slowly improving. The Thomson Reuters/University of Michigan preliminary Decem
Published 10 Dec, 2011 12:00am
India cuts forecast

India cuts forecast

India slashed its full-year growth forecast on Friday amid slowing domestic and global demand, with officials warning the government was facing a serious balance of trade problem and will have a tough time meeting its fiscal deficit target. Asia's third-l
Published 10 Dec, 2011 12:00am
MF Global $2.2 billion transfer to customers approved

MF Global $2.2 billion transfer to customers approved

A US bankruptcy court judge on Friday approved a $2.2 billion bulk transfer that would bring the recovery of nearly all US commodities customers of fallen brokerage MF Global to about 72 percent of their accounts. The judge overruled several objections to
Published 10 Dec, 2011 12:00am
German exports dive; Bundesbank slashes forecast

German exports dive; Bundesbank slashes forecast

Germany's resilience to the debt crisis engulfing its neighbours looked to be disintegrating after data showed exports posted their biggest fall in half a year in October, and the Bundesbank forecast a lean winter and feeble growth next year.
Published 10 Dec, 2011 12:00am
Europe no longer role model for world: Czech president

Europe no longer role model for world: Czech president

Europe, plagued by the debt crisis, is no longer a role model for the world and refuses to accept this as a fact, Czech President Vaclav Klaus said at a business conference on Friday. "The situation in the world is changing, with Europe relatively lagging
Published 10 Dec, 2011 12:00am
Qatar creates 50 million euro fund for French suburb start-ups

Qatar creates 50 million euro fund for French suburb start-ups

Qatar has set up a 50-million-euro ($67-million) fund for entrepreneurs from France's often-deprived suburbs to set up businesses, the Gulf nation's ambassador to Paris said Friday. "Qatar is not just words. We must act. The emir (Sheikh Hamad bin Khalifa
Published 10 Dec, 2011 12:00am
Samsung wins round in long legal fight with Apple

Samsung wins round in long legal fight with Apple

Samsung Electronics Co won a round of its bruising global patent fight with Apple Inc on Friday when an Australian court lifted a ban on the sale of its Galaxy tablet computer in time for the busy Christmas shopping season. But the South Korean firm's tri
Published 10 Dec, 2011 12:00am
China refines overseas oil grab strategy

China refines overseas oil grab strategy

Chinese oil companies are changing their approach to investing in oil and gas projects overseas, placing more emphasis on community development and less on Beijing's political goals. Over the past decade, China's state-controlled energy giants have been t
Published 10 Dec, 2011 12:00am
Japan's GDP revised down slightly; capex weak

Japan's GDP revised down slightly; capex weak

Japan's economy rebounded in the third quarter at a slightly slower pace than initially estimated as companies pulled back on capital spending, worried that yen strength and slowing global growth will hurt exports. Gross domestic product (GDP) grew a revi
Published 10 Dec, 2011 12:00am
British top-end jewellers move into Chinese market

British top-end jewellers move into Chinese market

Britain's luxury jewellers are opening outlets in China, where demand for jewellery is set to grow while appetite wanes in western markets. Royal jeweller Garrard became the latest in a string of British brands to open an outlet in the Lane Crawford depar
Published 10 Dec, 2011 12:00am
South Korea's central bank cuts GDP growth views

South Korea's central bank cuts GDP growth views

South Korea's central bank cut its 2012 economic growth forecast on Friday and warned of possible further downgrades, but economists said it may still be far too optimistic and the country will likely need both a fiscal boost and monetary easing next year
Published 10 Dec, 2011 12:00am
Lloyds assessing if CEO should return

Lloyds assessing if CEO should return

Lloyds Banking Group has been assessing whether chief executive Antonio Horta-Osorio, off work with stress, should return to his position with the British lender, a source involved in the process said. The appraisal will include meetings between Horta-Oso
Published 10 Dec, 2011 12:00am
Norway core inflation slows, points to bigger rate cut

Norway core inflation slows, points to bigger rate cut

Norway's core inflation unexpectedly slowed in November and firms forecast slower growth over the next six months, reinforcing views the central bank may opt for a bigger interest rate cut next week. Norwegian firms said in a central bank survey that they
Published 10 Dec, 2011 12:00am
Business volume picking up on cotton market as rates remain range bound

Business volume picking up on cotton market as rates remain range bound

Trading activity showed betterment on the cotton market on Friday so the prices managed to maintain firmness but it may prove short-lived due to fall in foreign demand, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at
Published 10 Dec, 2011 12:00am
Canadian canola futures rise

Canadian canola futures rise

ICE Canadian canola futures rose on Thursday for the fourth straight day on short-covering ahead of a US crops report and euro zone summit dealing with the debt crisis, traders said. Total volume of 25,700 contracts was largest in one week. January canola
Published 10 Dec, 2011 12:00am
No change on grain market

No change on grain market

The Karachi Grain and Seed Merchants Group's press release showed that there was no change in commodities prices on Friday as almost all the participants were busy in preparations for Juma prayers.
Published 10 Dec, 2011 12:00am
SBP, CCP, SECP should map out protections, subsidies: PC

SBP, CCP, SECP should map out protections, subsidies: PC

The Planning Commission has proposed that the three regulators-State Bank, Competition Commission, and Securities and Exchange Commission of Pakistan-should map out all protections and subsidies being given on goods and services and implement the plan to
Published 10 Dec, 2011 12:00am
Corn, soya export premiums steady at US Gulf Coast

Corn, soya export premiums steady at US Gulf Coast

Corn and soyabean export premiums were mostly steady at the US Gulf Coast on Thursday in thin trading ahead of a government supply and demand report due early on Friday, traders said. Soyabean bids were firm in the CIF barge market, supported by limited s
Published 10 Dec, 2011 12:00am
SBP, CCP, SECP should map out protections, subsidies: PC

SBP, CCP, SECP should map out protections, subsidies: PC

The Planning Commission has proposed that the three regulators-State Bank, Competition Commission, and Securities and Exchange Commission of Pakistan-should map out all protections and subsidies being given on goods and services and implement the plan to
Published 10 Dec, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 97,025 tonnes of cargo comprising 74,977 tonnes of import cargo and 22,048 tonnes of export cargo including 3,289 loaded & empty containers during last 24 hours ended at 0700 hours on Friday. The total import cargo of 74,977 tonne
Published 10 Dec, 2011 12:00am
SBP, CCP, SECP should map out protections, subsidies: PC

SBP, CCP, SECP should map out protections, subsidies: PC

The Planning Commission has proposed that the three regulators-State Bank, Competition Commission, and Securities and Exchange Commission of Pakistan-should map out all protections and subsidies being given on goods and services and implement the plan to
Published 10 Dec, 2011 12:00am
US Midwest corn, soyabeans bids steady

US Midwest corn, soyabeans bids steady

Spot basis bids for corn and soyabeans were mostly steady on Thursday at processors, elevators and ethanol plants around the US Midwest, as largely quiet trade kept grain movement slow, dealers said. New-crop sales were largely non-existent on Thursday an
Published 10 Dec, 2011 12:00am
SBP, CCP, SECP should map out protections, subsidies: PC

SBP, CCP, SECP should map out protections, subsidies: PC

The Planning Commission has proposed that the three regulators-State Bank, Competition Commission, and Securities and Exchange Commission of Pakistan-should map out all protections and subsidies being given on goods and services and implement the plan to
Published 10 Dec, 2011 12:00am
SBP, CCP, SECP should map out protections, subsidies: PC

SBP, CCP, SECP should map out protections, subsidies: PC

The Planning Commission has proposed that the three regulators-State Bank, Competition Commission, and Securities and Exchange Commission of Pakistan-should map out all protections and subsidies being given on goods and services and implement the plan to
Published 10 Dec, 2011 12:00am
Indonesia's 2011-12 coffee output revised up, Colombia's cut: ICO

Indonesia's 2011-12 coffee output revised up, Colombia's cut: ICO

The International Coffee Organisation (ICO) has revised up its coffee output projection for the current 2011/2012 crop from Indonesia, the world's third-biggest producer, but lowered its forecast for Colombia. Indonesian production is seen at 8.75 million
Published 10 Dec, 2011 12:00am
Government papers: SBP concerned over banks' rising investment

Government papers: SBP concerned over banks' rising investment

The State Bank of Pakistan (SBP) has shown serious concern over the rising banks' investment in government papers, and termed this trend 'unsustainable' for the banking industry. According to SBP, this is also receding the banks' role as financial interme
Published 10 Dec, 2011 12:00am
Political innings

Political innings

Imran Khan and his Pakistan Tehreek-e-Insaf (PTI) have spent many years in Pakistan's political wilderness. Despite his platform for change and condemnation of the incessantly corrupt Pakistani political culture, PTI has had very little to show for itself
Published 10 Dec, 2011 12:00am
Government papers: SBP concerned over banks' rising investment

Government papers: SBP concerned over banks' rising investment

The State Bank of Pakistan (SBP) has shown serious concern over the rising banks' investment in government papers, and termed this trend 'unsustainable' for the banking industry. According to SBP, this is also receding the banks' role as financial interme
Published 10 Dec, 2011 12:00am
KARACHI CHRONICLE: Karachi's feudal lords

KARACHI CHRONICLE: Karachi's feudal lords

Out of the blue, Sui Southern Gas Company on Monday 28 November announced a schedule of gas loadshedding at CNG stations in view of increased demand. So was this increased demand something that occurred overnight that they had to take lightening fast emer
Published 10 Dec, 2011 12:00am
Government papers: SBP concerned over banks'' rising investment

Government papers: SBP concerned over banks'' rising investment

The State Bank of Pakistan (SBP) has shown serious concern over the rising banks'' investment in government papers, and termed this trend ''unsustainable'' for the banking industry. According to SBP, this is also receding the banks'' role as financial int
Published 10 Dec, 2011 12:00am
ART FACTS: 'The King of Glass'

ART FACTS: 'The King of Glass'

Jean-Claude Novaro, one of the greatest glass blowers of our time, recently exhibited his artworks at the Unicorn Gallery, Karachi. Curate by Bertrand Epaud the exhibition is a debut of the artist in South Asia which provides an opportunity for Karachiite
Published 10 Dec, 2011 12:00am
Prime Minister briefed on tax collection, gas, oil supply

Prime Minister briefed on tax collection, gas, oil supply

Finance Minister Abdul Hafeez Sheikh, and Petroleum Minister Asim Hussain separately called on Prime Minister Yousuf Raza Gilani on Friday. The Finance Minister informed the PM about tax collection of Rs 640 billion in five months of the current financial
Published 10 Dec, 2011 12:00am
Computer/Video games - two sides of a coin

Computer/Video games - two sides of a coin

These days' computer/video games and play stations, are favourite playtime activities for young children and teenagers. Most parents argue that during their childhood they had plenty of positive playtime activities other than computer games. They fear tha
Published 10 Dec, 2011 12:00am
Prime Minister briefed on tax collection, gas, oil supply

Prime Minister briefed on tax collection, gas, oil supply

Finance Minister Abdul Hafeez Sheikh, and Petroleum Minister Asim Hussain separately called on Prime Minister Yousuf Raza Gilani on Friday. The Finance Minister informed the PM about tax collection of Rs 640 billion in five months of the current financial
Published 10 Dec, 2011 12:00am
Book Reviews: Faiz - a poet of peace

Book Reviews: Faiz - a poet of peace

It was somewhere in the middle of the last year that the Progressive Writers' Association, Pakistan decided to celebrate the year 2011 as Faiz Ahmad Faiz's centennial year. The response world over was much beyond expectations. Apart from references, semin
Published 10 Dec, 2011 12:00am
Prime Minister briefed on tax collection, gas, oil supply

Prime Minister briefed on tax collection, gas, oil supply

Finance Minister Abdul Hafeez Sheikh, and Petroleum Minister Asim Hussain separately called on Prime Minister Yousuf Raza Gilani on Friday. The Finance Minister informed the PM about tax collection of Rs 640 billion in five months of the current financial
Published 10 Dec, 2011 12:00am
Literary Notes: Faiz Ahmad Faiz dominates the show

Literary Notes: Faiz Ahmad Faiz dominates the show

The city has been in the enthusiastic grip of Faiz Ahmad Faiz fervour in the month of November. This could be called the ending note of the year long celebrations all over the world never before taken on this grand scale for any Urdu poet so far.
Published 10 Dec, 2011 12:00am
BRIDGE NOTES: Choose play before

BRIDGE NOTES: Choose play before

In bridge, irrespective of the end result, what matters most is how you approach the game specially in the making of the contract bid. There are endless facets of card play at bridge with a host of alternate lines available so much so that it sometimes be
Published 10 Dec, 2011 12:00am
New York cotton

New York cotton

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

Published 10 Dec, 2011 12:00am
New York cotton

New York cotton

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

Published 10 Dec, 2011 12:00am
Index gains 72.04 points

Index gains 72.04 points

After witnessing a highly volatile session on Friday, the KSE-100 index closed at 11,464.61 points, up 72.04 points, on late buying, mainly in fertiliser and E&P sector stocks. The market opened on a negative note and the index hit 11,345.73 points intra-
Published 10 Dec, 2011 12:00am
Index gains 72.04 points

Index gains 72.04 points

After witnessing a highly volatile session on Friday, the KSE-100 index closed at 11,464.61 points, up 72.04 points, on late buying, mainly in fertiliser and E&P sector stocks. The market opened on a negative note and the index hit 11,345.73 points intra-
Published 10 Dec, 2011 12:00am
Index gains 72.04 points

Index gains 72.04 points

After witnessing a highly volatile session on Friday, the KSE-100 index closed at 11,464.61 points, up 72.04 points, on late buying, mainly in fertiliser and E&P sector stocks. The market opened on a negative note and the index hit 11,345.73 points intra-
Published 10 Dec, 2011 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 10 Dec, 2011 12:00am
BRIndex30 up 39.58 points

BRIndex30 up 39.58 points

On Friday, the BRIndex30 opened at 8,627.36 points. It touched the intra-day high of 8,701.91 points and low of 8,592.14 points and closed at 8,666.94 points with a net positive change of 39.58 points, or 0.46 percent higher than previous close. The volum
Published 10 Dec, 2011 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) - issued by the Foreign Exchange Rates Commi
Published 10 Dec, 2011 12:00am
BRIndex30 up 39.58 points

BRIndex30 up 39.58 points

On Friday, the BRIndex30 opened at 8,627.36 points. It touched the intra-day high of 8,701.91 points and low of 8,592.14 points and closed at 8,666.94 points with a net positive change of 39.58 points, or 0.46 percent higher than previous close. The volum
Published 10 Dec, 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 (December 09, 2011).

Published 10 Dec, 2011 12:00am
Tax return date expires: FBR starts penalising non-filers

Tax return date expires: FBR starts penalising non-filers

Large Tax-payer Units (LTUs) and Regional Tax Offices (RTOs) have started imposing penalty on non-filers of income tax returns (Tax Year 2011) where date of filing of returns has expired on November 30, 2011. Sources told Business Recorder here on
Published 10 Dec, 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 (December 09, 2011).

Published 10 Dec, 2011 12:00am
Tax return date expires: FBR starts penalising non-filers

Tax return date expires: FBR starts penalising non-filers

Large Tax-payer Units (LTUs) and Regional Tax Offices (RTOs) have started imposing penalty on non-filers of income tax returns (Tax Year 2011) where date of filing of returns has expired on November 30, 2011. Sources told Business Recorder here on
Published 10 Dec, 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 (December 09, 2011).

Published 10 Dec, 2011 12:00am
Tax return date expires: FBR starts penalising non-filers

Tax return date expires: FBR starts penalising non-filers

Large Tax-payer Units (LTUs) and Regional Tax Offices (RTOs) have started imposing penalty on non-filers of income tax returns (Tax Year 2011) where date of filing of returns has expired on November 30, 2011. Sources told Business Recorder here on
Published 10 Dec, 2011 12:00am
Euro, Pakistan and Saudi Arabia among top US risks

Euro, Pakistan and Saudi Arabia among top US risks

The euro crisis, political instability in Saudi Arabia and conflict with Pakistan have emerged as top potential threats facing the United States in 2012, an influential think-tank said Friday. The Council on Foreign Relation's Center for Preventive Action
Published 10 Dec, 2011 12:00am
Euro, Pakistan and Saudi Arabia among top US risks

Euro, Pakistan and Saudi Arabia among top US risks

The euro crisis, political instability in Saudi Arabia and conflict with Pakistan have emerged as top potential threats facing the United States in 2012, an influential think-tank said Friday. The Council on Foreign Relation's Center for Preventive Action
Published 10 Dec, 2011 12:00am
Euro, Pakistan and Saudi Arabia among top US risks

Euro, Pakistan and Saudi Arabia among top US risks

The euro crisis, political instability in Saudi Arabia and conflict with Pakistan have emerged as top potential threats facing the United States in 2012, an influential think-tank said Friday. The Council on Foreign Relation''s Center for Preventive Actio
Published 10 Dec, 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 (December 09, 2011).

Published 10 Dec, 2011 12:00am
His return could take 'weeks'?

His return could take 'weeks'?

President Asif Ali Zardari is to remain under medical observation in Dubai and it could be weeks before he returns home, an Emirati daily newspaper reported on Friday. "It can take two days or even more than two weeks, it all depends on what doctors advis
Published 10 Dec, 2011 12:00am
His return could take 'weeks'?

His return could take 'weeks'?

President Asif Ali Zardari is to remain under medical observation in Dubai and it could be weeks before he returns home, an Emirati daily newspaper reported on Friday. "It can take two days or even more than two weeks, it all depends on what doctors advis
Published 10 Dec, 2011 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Friday (December 09, 2011).
Published 10 Dec, 2011 12:00am
Zardari dismisses speculations

Zardari dismisses speculations

President Asif Ali Zardari dismissed speculation that he was about to resign or settle abroad, saying he would soon return to the country, state-run Pakistan Television (PTV) reported Friday. Zardari, 56, is recovering from heart problems in Dubai. His ab
Published 10 Dec, 2011 12:00am
Spot dollar rates

Spot dollar rates

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

Published 10 Dec, 2011 12:00am
Zardari dismisses speculations

Zardari dismisses speculations

President Asif Ali Zardari dismissed speculation that he was about to resign or settle abroad, saying he would soon return to the country, state-run Pakistan Television (PTV) reported Friday. Zardari, 56, is recovering from heart problems in Dubai. His ab
Published 10 Dec, 2011 12:00am
UK isolated: Europe moves ahead with fiscal union

UK isolated: Europe moves ahead with fiscal union

Europe secured an historic agreement to draft a new treaty for deeper economic integration in the euro zone on Friday, but Britain, the region's third largest economy, refused to join the other 26 countries in a fiscal union and was left isolated.
Published 10 Dec, 2011 12:00am
UK isolated: Europe moves ahead with fiscal union

UK isolated: Europe moves ahead with fiscal union

Europe secured an historic agreement to draft a new treaty for deeper economic integration in the euro zone on Friday, but Britain, the region's third largest economy, refused to join the other 26 countries in a fiscal union and was left isolated.
Published 10 Dec, 2011 12:00am
UK isolated: Europe moves ahead with fiscal union

UK isolated: Europe moves ahead with fiscal union

Europe secured an historic agreement to draft a new treaty for deeper economic integration in the euro zone on Friday, but Britain, the region''s third largest economy, refused to join the other 26 countries in a fiscal union and was left isolated.
Published 10 Dec, 2011 12:00am
Moody's cuts top French banks' ratings

Moody's cuts top French banks' ratings

Rating agency Moody's has downgraded the debt of France's three largest banks, citing deteriorating liquidity, a day after the European Central Bank offered banks funding for three years for the first time ever. The downgrade comes at a sensitive time for
Published 10 Dec, 2011 12:00am
Moody's cuts top French banks' ratings

Moody's cuts top French banks' ratings

Rating agency Moody's has downgraded the debt of France's three largest banks, citing deteriorating liquidity, a day after the European Central Bank offered banks funding for three years for the first time ever. The downgrade comes at a sensitive time for
Published 10 Dec, 2011 12:00am
Moody''s cuts top French banks'' ratings

Moody''s cuts top French banks'' ratings

Rating agency Moody''s has downgraded the debt of France''s three largest banks, citing deteriorating liquidity, a day after the European Central Bank offered banks funding for three years for the first time ever. The downgrade comes at a sensitive time f
Published 10 Dec, 2011 12:00am
Roadside blast kills three Rangers

Roadside blast kills three Rangers

A roadside bomb blast in Gulistan-e-Johar area on early Friday morning killed three Rangers and left four others wounded, police and eyewitnesses said. The incident took place in early morning at 7:00am in the jurisdiction of Sachal Police Stations, polic
Published 10 Dec, 2011 12:00am
Roadside blast kills three Rangers

Roadside blast kills three Rangers

A roadside bomb blast in Gulistan-e-Johar area on early Friday morning killed three Rangers and left four others wounded, police and eyewitnesses said. The incident took place in early morning at 7:00am in the jurisdiction of Sachal Police Stations, polic
Published 10 Dec, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (December 09, 2011).

Published 10 Dec, 2011 12:00am
No EU plan to ban PIA operations

No EU plan to ban PIA operations

The European Union (EU) has no plans to ban Pakistan International Airlines (PIA) operations in EU countries as corrective measures have been taken by the national flag carrier to improve its operational standards. In reply to a query by Business Recor
Published 10 Dec, 2011 12:00am
No EU plan to ban PIA operations

No EU plan to ban PIA operations

The European Union (EU) has no plans to ban Pakistan International Airlines (PIA) operations in EU countries as corrective measures have been taken by the national flag carrier to improve its operational standards. In reply to a query by Business Recor
Published 10 Dec, 2011 12:00am
No EU plan to ban PIA operations

No EU plan to ban PIA operations

The European Union (EU) has no plans to ban Pakistan International Airlines (PIA) operations in EU countries as corrective measures have been taken by the national flag carrier to improve its operational standards. In reply to a query by Business Recor
Published 10 Dec, 2011 12:00am
Bullish sentiments prevail on LSE

Bullish sentiments prevail on LSE

Bullish sentiments prevailed on the Lahore Stock Exchange (LSE) and the equities registered gains amid descending transaction volume on account of cautious approach of the investors ahead of weekend. The LSE-25 index was increased by 9.17 points and ended
Published 10 Dec, 2011 12:00am
Bullish sentiments prevail on LSE

Bullish sentiments prevail on LSE

Bullish sentiments prevailed on the Lahore Stock Exchange (LSE) and the equities registered gains amid descending transaction volume on account of cautious approach of the investors ahead of weekend. The LSE-25 index was increased by 9.17 points and ended
Published 10 Dec, 2011 12:00am
Equities move both ways on ISE

Equities move both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 31.15 points, as the Index moved from 2,632.14 to 2,663.
Published 10 Dec, 2011 12:00am
Equities move both ways on ISE

Equities move both ways on ISE

Equities moved both ways at the Islamabad Stock Exchange (ISE) where investors adopted a cautious approach under the lead of hot favourite amid increase in index. ISE Ten Index showed an increase of 31.15 points, as the Index moved from 2,632.14 to 2,663.
Published 10 Dec, 2011 12:00am
89 dead in Indian hospital fire

89 dead in Indian hospital fire

A fire at a private hospital in the eastern Indian city of Kolkata on Friday killed 89 people, most of them patients who choked to death because of the smoke, police said. It was the second major blaze at the Advanced Medicare and Research Institute (AMRI
Published 10 Dec, 2011 12:00am
89 dead in Indian hospital fire

89 dead in Indian hospital fire

A fire at a private hospital in the eastern Indian city of Kolkata on Friday killed 89 people, most of them patients who choked to death because of the smoke, police said. It was the second major blaze at the Advanced Medicare and Research Institute (AMRI
Published 10 Dec, 2011 12:00am
Aslam Hayat made KPT chairman

Aslam Hayat made KPT chairman

Prime Minister Syed Yousuf Raza Gilani has appointed Aslam Hayat as Chairman Karachi Port Trust (KPT), Aaj News reported. According to the channel, Aslam Hayat has already served as Chairman Gwadar Development Authority.
Published 10 Dec, 2011 12:00am
Aslam Hayat made KPT chairman

Aslam Hayat made KPT chairman

Prime Minister Syed Yousuf Raza Gilani has appointed Aslam Hayat as Chairman Karachi Port Trust (KPT), Aaj News reported. According to the channel, Aslam Hayat has already served as Chairman Gwadar Development Authority.
Published 10 Dec, 2011 12:00am
Aslam Hayat made KPT chairman

Aslam Hayat made KPT chairman

Prime Minister Syed Yousuf Raza Gilani has appointed Aslam Hayat as Chairman Karachi Port Trust (KPT), Aaj News reported. According to the channel, Aslam Hayat has already served as Chairman Gwadar Development Authority.
Published 10 Dec, 2011 12:00am
Nato containers cost Rs 40 billion damage to roads, Senate told

Nato containers cost Rs 40 billion damage to roads, Senate told

Federal Minister for Communication Arbab Alamgir Khan on Friday informed the Senate that movement of Nato containers has dented the exchequer by Rs 40 billion in the form of damage to the road network from Karachi to the border checkposts. Despite repeate
Published 10 Dec, 2011 12:00am
Nato containers cost Rs 40 billion damage to roads, Senate told

Nato containers cost Rs 40 billion damage to roads, Senate told

Federal Minister for Communication Arbab Alamgir Khan on Friday informed the Senate that movement of Nato containers has dented the exchequer by Rs 40 billion in the form of damage to the road network from Karachi to the border checkposts. Despite repeate
Published 10 Dec, 2011 12:00am
Nato containers cost Rs 40 billion damage to roads, Senate told

Nato containers cost Rs 40 billion damage to roads, Senate told

Federal Minister for Communication Arbab Alamgir Khan on Friday informed the Senate that movement of Nato containers has dented the exchequer by Rs 40 billion in the form of damage to the road network from Karachi to the border checkposts. Despite repeate
Published 10 Dec, 2011 12:00am
Tax incentives to be sought for listed companies

Tax incentives to be sought for listed companies

In pursuance of its mandate to encourage and facilitate investment in the country through listing on the stock exchanges, Imtiaz Haider, the SECP Commissioner for Securities Market, met Saleem H. Mandviwalla, Chairman, Board of Investment (BOI) and compar
Published 10 Dec, 2011 12:00am
Tax incentives to be sought for listed companies

Tax incentives to be sought for listed companies

In pursuance of its mandate to encourage and facilitate investment in the country through listing on the stock exchanges, Imtiaz Haider, the SECP Commissioner for Securities Market, met Saleem H. Mandviwalla, Chairman, Board of Investment (BOI) and compar
Published 10 Dec, 2011 12:00am
Tax incentives to be sought for listed companies

Tax incentives to be sought for listed companies

In pursuance of its mandate to encourage and facilitate investment in the country through listing on the stock exchanges, Imtiaz Haider, the SECP Commissioner for Securities Market, met Saleem H. Mandviwalla, Chairman, Board of Investment (BOI) and compar
Published 10 Dec, 2011 12:00am
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