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Archive - 2012-02-07
US budget deficit fell to $27bn
Top News

US budget deficit fell to $27bn

WASHINGTON: US budget deficit contract nearly half in January as compare to last year because tax collection from indivi
Published 07 Feb, 2012 06:59pm
Venezuela inflation slows to 1.5pc
Top News

Venezuela inflation slows to 1.5pc

CARACAS: Venezuela Central bank said on Tuesday that inflation rate was slowed to 1.5 percent in January though economis
Published 07 Feb, 2012 06:40pm
UN trade chief defends transactions tax
Top News

UN trade chief defends transactions tax

GENEVA: UN trade and development chief Supachai Panitchpakdi on Tuesday defended the introduction of a European financia
Published 07 Feb, 2012 05:56pm
Gold slips to Rs 50,057
Markets

Gold slips to Rs 50,057

KARACHI: Gold slipped by Rs 85 to close at Rs 50,057 per 10 grams in the local market Tuesday as its international price
Published 07 Feb, 2012 05:12pm
ISE-10 stays bullish
Markets

ISE-10 stays bullish

ISLAMABAD: Islamabad Stock Exchange (ISE-10) here on Tuesday witnessed bullish trend as the index was up by 59.61 as com
Published 07 Feb, 2012 05:02pm
China to raise fuel prices
Top News

China to raise fuel prices

BEIJING: China said it would raise the retail prices of diesel and petrol by up to 0.26 yuan a litre (14 cents a US gall
Published 07 Feb, 2012 04:58pm
CM Sindh reviews performance of PPHI
Top News

CM Sindh reviews performance of PPHI

KARACHI: Sindh Chief Minister, Syed Qaim Ali Shah, on Tuesday chaired a joint meeting of the Planning, Development and F
Published 07 Feb, 2012 04:58pm
SBP injects Rs37bn in the market
Top News

SBP injects Rs37bn in the market

KARACHI : State Bank of Pakistan (SBP) in its reverse repo open market operation in treasury bills and Pakistan Inve
Published 07 Feb, 2012 04:20pm
State Bank renews status of ECAIs
Top News

State Bank renews status of ECAIs

KARACHI: The State Bank of Pakistan (SBP) has renewed the status of External Credit Assessment Institutions (ECAIs) of b
Published 07 Feb, 2012 04:16pm
PML-N to bring about real change: Nawaz
Top News

PML-N to bring about real change: Nawaz

MULTAN: Pakistan Muslim League-N President Nawaz Sharif said on Tuesday his party would bring about a real and practical
Published 07 Feb, 2012 03:22pm
50 Senators to retire on March 11: ECP
Top News

50 Senators to retire on March 11: ECP

ISLAMABAD: Secretary, Election Commission of Pakistan (ECP) Ishtiak Ahmad Khan on Tuesday said that fifty members of the
Published 07 Feb, 2012 03:18pm
Cold, dry weather
Business & Finance

Cold, dry weather

KARACHI: The Met office has forecast a cold and dry weather in the metropolis for next 24 hours. The minimum temperatur
Published 07 Feb, 2012 02:14pm
RECORDER REPORT: KSE close of day
Top News

RECORDER REPORT: KSE close of day

KARACHI : Bullish trend continued at the Karachi share market on Tuesday and the KSE-100 index increased by 147.70 poi
Published 07 Feb, 2012 02:10pm
RECORDER REPORT: mid day update
Top News

RECORDER REPORT: mid day update

KARACHI: On Tuesday, until 12:30 P.M., KSE-100 Index was at 12,218.89 with a positive change of 81.97 and volume of 52,8
Published 07 Feb, 2012 07:58am
Oil lower in Asia on Greece, US demand
Top News

Oil lower in Asia on Greece, US demand

SINGAPORE: Oil prices fell in Asian trade Tuesday on concerns debt-ridden Greece might fail to secure a second bailout a
Published 07 Feb, 2012 07:44am
Lahore factory collapse toll hits 17
Top News

Lahore factory collapse toll hits 17

LAHORE: Pakistani rescuers on Tuesday recovered more bodies from the rubble of a factory that collapsed in the Lahore, r
Published 07 Feb, 2012 05:05am
Glencore recommends merger with Xstrata
Top News

Glencore recommends merger with Xstrata

  ZURICH: Swiss-based commodities trader Glencore said Tuesday it would recommend a merger with mining group Xstrata in
Published 07 Feb, 2012 05:00am
Tokyo stocks mixed by break
Financial

Tokyo stocks mixed by break

TOKYO: Tokyo stocks were mixed Tuesday morning after US and European markets fell amid uncertainty over talks on Greek d
Published 07 Feb, 2012 03:56am
Broadband round-up
BR Research

Broadband round-up

Pakistan is yet to undergo a penetration in broadband services, the likes of which the country witnessed in cellular services. The official
Published 07 Feb, 2012 12:00am
Toxic loans: cause of concern
BR Research

Toxic loans: cause of concern

A high level of non-performing loans is blamed for the growing reluctance of financial institutions to extend credit facilities to the priva
Published 07 Feb, 2012 12:00am
Outdoor advertisements being allowed despite ban

Outdoor advertisements being allowed despite ban

Advertisement Department of Karachi Metropolitan Corporation (KMC) is issuing permission letters to advertising companies to erect billboards and signboards despite a ban on installation of new signboards in the metropolis, sources told Business Record
Published 07 Feb, 2012 12:00am
NIT announces results for first half fiscal year 2012

NIT announces results for first half fiscal year 2012

National Investment Trust Limited has announced the results of all funds under its management for the half year ended December 31, 2011 (1HFY12). Chairman and Managing Directors of NIT, Wazir Ali Khoja announced these results in a press release issued on
Published 07 Feb, 2012 12:00am
NIT announces results for first half fiscal year 2012

NIT announces results for first half fiscal year 2012

National Investment Trust Limited has announced the results of all funds under its management for the half year ended December 31, 2011 (1HFY12). Chairman and Managing Directors of NIT, Wazir Ali Khoja announced these results in a press release issued on
Published 07 Feb, 2012 12:00am
SMEs SBP launches new project on cluster survey

SMEs SBP launches new project on cluster survey

The State Bank of Pakistan (SBP) on Monday launched a new project on clusters survey of 10 important Small & Medium Enterprise (SME) Clusters in the country. The objective of this project survey is to provide credible information base on key SME clusters/
Published 07 Feb, 2012 12:00am
Sindh government to put CVT, infrastructure tax on automation

Sindh government to put CVT, infrastructure tax on automation

After the success story of online collection of sales tax on services, Sindh government has decided in principle to put two more provincial taxes including Capital Value Tax (CVT) and Infrastructure Tax (IT) on automation, sources told Business Recorde
Published 07 Feb, 2012 12:00am
Three killed in road accidents

Three killed in road accidents

At least three persons lost their lives in different incidents at various parts of the metropolis on Monday. According to police sources, a 50-year-old man namely Hussain son of Ibrahim Gilgiti was killed while crossing the railway track at Drigh road are
Published 07 Feb, 2012 12:00am
Two killed, five injured in roof collapse

Two killed, five injured in roof collapse

At least two persons were killed and five others injured when roof of a building collapsed in Khanozai area of Pishin district on Monday. Police sources told APP that roof of a restaurant caved in due to heavy snowfall. Resultantly, two men sitting inside
Published 07 Feb, 2012 12:00am
Defence Authority Model School holds prize-distribution function

Defence Authority Model School holds prize-distribution function

The annual prize distribution function of Defence Authority Model High School Phase-VII was held at the school's auditorium in which the students presented an elegant variety programme. Tahir A Khan, Chairman Interflow Group, was the chief guest of the fu
Published 07 Feb, 2012 12:00am
Oil and Gas Development Company

Oil and Gas Development Company

Oil and Gas Development Company Limited (OGDCL) is the largest oil and gas exploration and production company of Pakistan and apart from the three stock exchanges, the company is also listed on London Stock Exchange in form of global depository shares. Th
Published 07 Feb, 2012 12:00am
Oil and Gas Development Company

Oil and Gas Development Company

Oil and Gas Development Company Limited (OGDCL) is the largest oil and gas exploration and production company of Pakistan and apart from the three stock exchanges, the company is also listed on London Stock Exchange in form of global depository shares. Th
Published 07 Feb, 2012 12:00am
PPP, PML-N fail to evolve consensus on 20th Amendment bill

PPP, PML-N fail to evolve consensus on 20th Amendment bill

Pakistan People's Party (PPP) and Pakistan Muslim League-Nawaz (PML-N) on Monday failed to reach consensus over 20th Constitutional Amendment Bill and the composition of interim set up, it has been learnt. Both the parties will meet again on Tuesday (toda
Published 07 Feb, 2012 12:00am
US MIDDAY: gold drops

US MIDDAY: gold drops

Gold prices fell early on Monday, after the dollar rose on a continued lack of progress in the Greek bailout and a better US economic outlook added to the bullion profit taking seen during the previous session's sharp drop. Gold largely tracked losses in
Published 07 Feb, 2012 12:00am
US MIDDAY: copper stumbles

US MIDDAY: copper stumbles

Copper began the new week on shaky ground on Monday, falling under the weight of a stronger dollar and European debt-contagion fears after the failure of Greece so far to approve the terms of a new bailout package. In New York, the key March COMEX contrac
Published 07 Feb, 2012 12:00am
US MIDDAY: soyabeans rise

US MIDDAY: soyabeans rise

Chicago soyabean futures rose to their highest level in more than three months early on Monday with demand for US soya buoyed by concerns over supplies from drought-hit South America. Wheat prices edged higher but corn slipped, with the market's focus thi
Published 07 Feb, 2012 12:00am
Gold slips in Europe

Gold slips in Europe

Gold prices fell on Monday, extending the previous session's 2 percent price drop, as concerns over the progress of Greek bailout talks weighed on the euro and on assets seen as higher risk, such as stocks and commodities. Spot gold was down 0.5 percent a
Published 07 Feb, 2012 12:00am
Gold rebounds in Asia

Gold rebounds in Asia

Spot gold rebounded on Monday as Asian buyers rushed to snatch bargains after a nearly 2-percent drop in the previous session, while uncertainty ahead of a deadline for Greece to accept the terms of a new bailout deal also supported prices. Surprisingly s
Published 07 Feb, 2012 12:00am
Sugar moves up; cocoa and coffee ease

Sugar moves up; cocoa and coffee ease

Sugar futures clawed higher on Monday while cocoa and coffee eased as the market took stock of further delays to Greece's bailout deal to resolve the continent's prolonged debt crisis. Greece let yet another deadline slip on Monday for responding to painf
Published 07 Feb, 2012 12:00am
Saudi Arabia's OSP cuts may put more pressure on Iran

Saudi Arabia's OSP cuts may put more pressure on Iran

Saudi Arabia's surprise cut to the March official selling prices (OSPs) of its heavy and medium crudes to Asia could put further pressure on Iran, which is struggling to retain its share of the regional market, industry sources said on Monday.
Published 07 Feb, 2012 12:00am
Tokyo rubber futures up three percent

Tokyo rubber futures up three percent

Tokyo rubber futures rose more than 3 percent to their highest in nearly four months on Monday, supported by promising US jobs data and concerns about a drop in supply, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for July d
Published 07 Feb, 2012 12:00am
Brent up on Europe's cold snap, Iran tensions

Brent up on Europe's cold snap, Iran tensions

Brent crude rose on Monday as support from cold weather in Europe, tensions over Iran's nuclear program and turmoil in Syria outweighed pressure from the possibility of a Greek debt default and a resulting curb on oil demand. US crude futures fell on pres
Published 07 Feb, 2012 12:00am
Copper falls; China physical market remains quiet

Copper falls; China physical market remains quiet

Copper eased on Monday as the dollar rallied on concerns that Greece had yet to agree on the terms of a new bailout to avoid debt default and on continued lacklustre demand from top consumer China. Three-month copper on the London Metal Exchange dropped a
Published 07 Feb, 2012 12:00am
Shanghai copper rises

Shanghai copper rises

The most-traded April copper contract on the Shanghai Futures Exchange closed up more than 1 percent at 60,530 yuan ($9,600) a tonne on Monday. "After a pretty positive start to the year, it's not surprising that there's been a lull, and definitely the fo
Published 07 Feb, 2012 12:00am
New York cotton marginally lower

New York cotton marginally lower

Cotton futures settled marginally lower in the nearby month on Monday as the market consolidated while awaiting release of a pair of reports at the end of the week, analysts said. Benchmark March cotton on ICE Futures US slipped 0.03 cent to finish at 96.
Published 07 Feb, 2012 12:00am
France inaugurates first official Muslim cemetery

France inaugurates first official Muslim cemetery

France inaugurated its first municipal Muslim cemetery in the city of Strasbourg on Monday, a move hailed by Islamic leaders as a step in recognising one of the country's largest minority groups. Local officials and Muslim leaders attended a ceremony in t
Published 07 Feb, 2012 12:00am
Israel approves Asia-Europe rail bridge

Israel approves Asia-Europe rail bridge

Israel's government on Sunday gave the green light to building the first rail link between its Mediterranean and Red Sea coasts, offering a new Asia-Europe trade route to compete with the Suez Canal. "This is a strategic decision," Prime Minister Benjamin
Published 07 Feb, 2012 12:00am
Philippine quake kills 43

Philippine quake kills 43

At least 43 people were killed when a powerful earthquake triggered landslides, collapsed homes and smashed bridges across the central Philippines on Monday, authorities said. The 6.8-magntiude quake hit a narrow strait between the heavily populated islan
Published 07 Feb, 2012 12:00am
Nine dead in attack on Afghan police building

Nine dead in attack on Afghan police building

Nine people were killed Sunday in a suicide car bomb attack on police headquarters in the southern Afghan city of Kandahar, a bastion of Taliban militancy, government officials said. Seven policemen were among those killed in the blast, which also wounded
Published 07 Feb, 2012 12:00am
UK lawmakers urge ISPs to tackle extremist websites

UK lawmakers urge ISPs to tackle extremist websites

British Internet service providers should clamp down on websites used by violent extremists, both Islamists and increasingly the far right, lawmakers said in a report Monday. The Internet is a more significant vehicle for promoting radicalism than prisons
Published 07 Feb, 2012 12:00am
Google, Facebook remove content in India

Google, Facebook remove content in India

Online giants Google and Facebook said Monday they had removed allegedly offensive content on their Indian sites as part of a court case seen as a test for Internet control and censorship. They have been named alongside another 19 Internet firms in privat
Published 07 Feb, 2012 12:00am
Kuwait emir names Sheikh Jaber to form new cabinet

Kuwait emir names Sheikh Jaber to form new cabinet

Kuwait's emir has asked outgoing prime minister Sheikh Jaber al-Mubarak al-Sabah to form a new cabinet, the state news agency KUNA said on Monday, after the Gulf Arab state held a parliamentary election last week. Sheikh Jaber, a member of the ruling fami
Published 07 Feb, 2012 12:00am
Syrian forces bombard Homs, 50 killed

Syrian forces bombard Homs, 50 killed

Syrian forces bombarded Homs on Monday, killing 50 people in a sustained assault on several districts of the city which has become a centre of armed opposition to President Bashar al-Assad, the Syrian National Council opposition group said. Western countr
Published 07 Feb, 2012 12:00am
Queen Elizabeth II marks 60-year reign

Queen Elizabeth II marks 60-year reign

Queen Elizabeth II renewed her vow to serve on Monday as she made a low-key start to five months of diamond jubilee celebrations marking her 60 years on the throne. Six decades after the death of her father King George VI on February 6, 1952 made the youn
Published 07 Feb, 2012 12:00am
With economy improving, Obama would beat Romney

With economy improving, Obama would beat Romney

US President Barack Obama - bolstered by a stronger economic outlook and recent job growth - would win in a match-up against the two leading Republican presidential candidates Mitt Romney and Newt Gingrich, a poll on Monday showed. A Washington Post-ABC N
Published 07 Feb, 2012 12:00am
Gingrich vows to take fight to 'timid' Romney

Gingrich vows to take fight to 'timid' Romney

Republican Newt Gingrich vowed on Sunday to press ahead with his struggling presidential bid after a big loss in Nevada, saying he will focus on drawing a contrast with "timid" rival Mitt Romney. Romney, the Republican front-runner, easily thumped Gingric
Published 07 Feb, 2012 12:00am
17 dead in shipwreck off Dominican Republic

17 dead in shipwreck off Dominican Republic

Dominican officials are investigating the capsizing of an overloaded immigrant smuggling boat that left 17 people dead and another 20 or more missing off the Dominican Republic coast, authorities said. A rustic vessel with about 60 people aboard left Satu
Published 07 Feb, 2012 12:00am
Cuban sugar harvest off to slow start

Cuban sugar harvest off to slow start

The Cuban sugar harvest got off to a slow start in January with just two of 13 sugar-producing provinces meeting their production targets, official media reported over the weekend. First Vice President Jose Ramon Machado Ventura toured central Cuba on Sat
Published 07 Feb, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 217,510 tonnes of cargo comprising 130,839 tonnes of import cargo and 86,671 tonnes of export cargo including 4,876 loaded & empty containers during last 48 hours ended at 0700 hours on Monday. The total import cargo of 130,839 to
Published 07 Feb, 2012 12:00am
Egypt's Nile Sugar to raise crushing capacity in 2013

Egypt's Nile Sugar to raise crushing capacity in 2013

Egyptian refiner Nile Sugar plans to increase its crushing capacity by over 40 percent next year to help meet strong demand in the country, its chief executive said on Sunday. Egypt produces around 2 million tonnes of sugar a year but needs to import abou
Published 07 Feb, 2012 12:00am
China eyes US soya as drought shrivels LatAm crop

China eyes US soya as drought shrivels LatAm crop

China, the world's biggest food shopper, is likely to buy more US soyabeans this quarter, as a withering drought is expected to cut the South American harvest, pushing soya prices up to fresh highs. Benchmark Chicago soya has risen for three weeks on the
Published 07 Feb, 2012 12:00am
Rainfall in Ivorian cocoa areas raises hopes for mid-crop

Rainfall in Ivorian cocoa areas raises hopes for mid-crop

Rainfall in most of Ivory Coast's main cocoa-growing regions last week raised hopes for the April-September mid-crop following a long dry spell, which dampened cocoa output expectations in the world's top grower, farmers said on Monday. Cocoa watchers pol
Published 07 Feb, 2012 12:00am
Kenya's 2011 flower earnings seen higher

Kenya's 2011 flower earnings seen higher

Kenya's flower earnings for 2011 are seen rising thanks to a favourable exchange rate for most of the year, despite earlier warnings they could fall below target due to the euro zone crisis, a senior industry official said on Monday. Flower exports accoun
Published 07 Feb, 2012 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 84.13-84.34 (previous 84.28-84.40). Call Money Rates: 20.00 percent (previous 14.00-20.00 percent).
Published 07 Feb, 2012 12:00am
Money markets position for 'wait-and-see' ECB

Money markets position for 'wait-and-see' ECB

Interbank markets show little expectation that the European Central Bank will commit to new injections of long-term banking loans or signal a cut in interest rates at its February policy meeting later this week. Prices showed the predicted path of overnig
Published 07 Feb, 2012 12:00am
Australian dollar slips

Australian dollar slips

The Australian dollar paused under six-month highs on Monday, in part on profit taking as surprisingly soft retail sales added to the case for a cut in interest rates this week even as the improving global mood seemed to lean against an easing. The Aussie
Published 07 Feb, 2012 12:00am
Yuan weakens

Yuan weakens

Yuan appreciation expectations rebounded in January to their strongest point since mid-September and remain near a four-month high, even as spot yuan softened slightly on Monday. After short covering pressured the yuan at the end of 2011, investors with c
Published 07 Feb, 2012 12:00am
Profit-taking weighs on Asia forex

Profit-taking weighs on Asia forex

The South Korean won and the Singapore dollar slipped on Monday as short-term investors booked profits from emerging Asian currencies and reduced long positions on concerns over a lack of progress in Greek debt restructuring talks. Coalition parties in At
Published 07 Feb, 2012 12:00am
Indian rupee snaps rising streak

Indian rupee snaps rising streak

The Indian rupee ended a four-day winning streak on Monday, reversing early gains that saw it rise to a more than four-and-a-half month high, as dollar demand from local oil refiners and big companies offset a rise in local shares. A report by rating agen
Published 07 Feb, 2012 12:00am
Euro tumbles in London

Euro tumbles in London

The euro fell on Monday on mounting investor concern that Greek coalition parties had yet to sign off on the terms of a new bailout, keeping alive the risk of a messy default that could ensnare other countries such as Portugal. Greece's coalition members
Published 07 Feb, 2012 12:00am
Early trade in New York: Euro weakens versus dollar

Early trade in New York: Euro weakens versus dollar

The euro weakened against the dollar on Monday, after the failure of Greek coalition parties to approve the terms of a new bailout package rekindled worries about a chaotic default that could spread to other debt-ridden, euro zone countries. A meeting of
Published 07 Feb, 2012 12:00am
Euro slips in Asia

Euro slips in Asia

The euro took something of a hit on Monday as Greek coalition parties dithered on approving the terms for a new bailout with a deadline just hours away, raising worries the whole rescue scheme could flop. Greece's coalition members must tell the European
Published 07 Feb, 2012 12:00am
Sterling climbs versus shaky euro

Sterling climbs versus shaky euro

Sterling rose against the euro but slipped against the dollar on Monday as Greek politicians struggled to find a consensus on bailout terms, heightening anxiety over the debt crisis in Europe and lending support to the US currency. A recent run of positiv
Published 07 Feb, 2012 12:00am
Miners drag FTSE lower

Miners drag FTSE lower

Miners dragged Britain's top share index lower on Monday, after doubt surfaced about Glencore's potential merger with Xstrata, while banks waned in the absence of a debt deal for Greece. The FTSE 100 index ended down 8.87 points, or 0.2 percent, at 5,892.
Published 07 Feb, 2012 12:00am
European shares dip on Greek uncertainty

European shares dip on Greek uncertainty

European shares ended lower on Monday as worries grew about a messy Greek debt default, with political leaders in Greece yet to decide on the terms of a second bailout. The FTSEurofirst 300 index of top European shares closed down 0.1 percent at 1,075.19
Published 07 Feb, 2012 12:00am
Australian shares rise one percent

Australian shares rise one percent

Australian shares rose more than 1 percent on Monday as surprisingly robust US jobs data bolstered investors' appetite for riskier assets. Miners led gains, with Rio Tinto climbing 2.6 percent to A$72.30 and BHP Billiton up 1.6 percent to A$38.21.
Published 07 Feb, 2012 12:00am
Hong Kong shares break winning streak; China stocks flat

Hong Kong shares break winning streak; China stocks flat

Hong Kong shares snapped a two-session winning streak on Monday, falling back from early gains after benchmark indexes met chart resistance as investors took profit on some of last week's outperformers. Mainland markets were mostly flat, with the Shanghai
Published 07 Feb, 2012 12:00am
Southeast Asian markets: Manila, Singapore lead gains, Jakarta falls

Southeast Asian markets: Manila, Singapore lead gains, Jakarta falls

Stocks in Singapore and the Philippines pushed higher in strong trade and Indonesian shares retreated on Monday amid a bout of profit-taking, but demand for growth stocks helped some banking, consumer and commodities-related shares perform well. Surprisin
Published 07 Feb, 2012 12:00am
Seoul stocks unchanged

Seoul stocks unchanged

Seoul shares retreated from an early advance to close nearly unchanged on Monday, failing to keep up with Asian peers as technicals weighed down on the benchmark index after it briefly touched a fresh six-month intraday high. The Korea Composite Stock Pri
Published 07 Feb, 2012 12:00am
Bangladesh stocks lose seven percent amid double-digit crash

Bangladesh stocks lose seven percent amid double-digit crash

Bangladesh's main stock index plunged nearly 7 percent on Monday, deepening a crash that has seen its value tumble by about 30 percent since the start of the year. The benchmark DGEN index, which analysts have long-warned was hovering at unsustainable lev
Published 07 Feb, 2012 12:00am
Indian shares rise

Indian shares rise

Indian shares rose for the fifth straight session on Monday, ending 0.58 percent higher, after last week's robust US jobs data helped improve risk appetite, but the rally in the local market is expected to take a breather soon. The main 30-share BSE index
Published 07 Feb, 2012 12:00am
Monday's midday trade: Wall Street dips as investors wait on Greece

Monday's midday trade: Wall Street dips as investors wait on Greece

US stocks dipped on Monday as a delay by debt-ridden Greece in accepting the terms of a bailout gave investors little reason to buy equities after a five-week rally. Athens allowed another deadline to slip by as political leaders failed to respond to bail
Published 07 Feb, 2012 12:00am
Nikkei at three-month high

Nikkei at three-month high

The Nikkei average closed at a three-month high on Monday, shrugging off a disappointing earnings season for Japanese firms as robust jobs data boosted confidence in an economic recovery in the United States. The forecast-beating jobs numbers have lowered
Published 07 Feb, 2012 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks ended down 0.69 percent on Monday, snapping a six-session rising streak, with banking shares dipping 2.16 percent as investors took profit from last week's 14 percent gain in the sector. The main TAIEX index dropped 53.26 points, to 7,687.98
Published 07 Feb, 2012 12:00am
Dubai's index surges to four-month high; Gulf markets up

Dubai's index surges to four-month high; Gulf markets up

Gulf markets ended higher on Sunday, with Dubai's index hitting a four-month high following strong quarterly results, in what traders said could be a new upward phase for the emirate's market. Markets in Egypt, Bahrain and Oman were shut for a Muslim holi
Published 07 Feb, 2012 12:00am
China bars airlines from EU emissions scheme

China bars airlines from EU emissions scheme

China on Monday barred its airlines from a European scheme to reduce carbon emissions, hardening its stance a week before a summit at which the European Union will seek Chinese help to ease its debt crisis. The wrangle over the scheme, which could charge
Published 07 Feb, 2012 12:00am
China posts bigger farm trade deficit in 2011

China posts bigger farm trade deficit in 2011

China boosted imports of agricultural products last year, with the farm trade deficit rising 47.4 percent from 2010 as the country's own production fell short of demand in the world's second-largest economy. China imported $94.87 billion worth of farm pro
Published 07 Feb, 2012 12:00am
EU regulator 'impressed' with banks on recapitalisation

EU regulator 'impressed' with banks on recapitalisation

The EU banking regulator said Monday that it was "impressed" with the willingness of European banks to meet new recapitalisation demands, ahead of a progress update due this week. The London-based European Banking Authority (EBA) ruled in December that th
Published 07 Feb, 2012 12:00am
Europe crisis could halve China's growth: IMF

Europe crisis could halve China's growth: IMF

An escalation of Europe's debt crisis could slash China's economic growth in half this year, the International Monetary Fund said Monday, urging Beijing to prepare stimulus measures in response. The IMF, in an economic outlook report on the world's second
Published 07 Feb, 2012 12:00am
India's investment-grade rating under pressure: S&P

India's investment-grade rating under pressure: S&P

India's prized investment-grade credit rating is facing pressure due to weak government policy-making, slower economic growth and stubborn inflation, ratings agency Standard & Poor's warned on Monday. Asia's third-largest economy is battling high prices,
Published 07 Feb, 2012 12:00am
Europe's debt rises, still below US, Japan

Europe's debt rises, still below US, Japan

Europe's debt in late 2011 stood well above the EU's limits for a healthy economy, with even powerhouse Germany bearing a debt load that could take decades to pay down, although borrowing as a proportion of output was smaller than for the United States.
Published 07 Feb, 2012 12:00am
US strikes deal to avoid Japan, EU trade sanctions

US strikes deal to avoid Japan, EU trade sanctions

The United States said on Monday it has struck a deal sparing US exporters from hundreds of millions of dollars in European and Japanese trade retaliation in a dispute over how Washington calculates anti-dumping duties on steel and other goods.
Published 07 Feb, 2012 12:00am
As military cuts, Global Aviation files bankruptcy

As military cuts, Global Aviation files bankruptcy

Global Aviation Holdings Inc, the largest commercial provider of chartered flights for the US military, has filed for bankruptcy protection, citing the US pullout from Iraq, defence spending cuts, and high debt and labour costs.
Published 07 Feb, 2012 12:00am
Tax transparency key for poor mining nations: WEF

Tax transparency key for poor mining nations: WEF

Transparency on tax and royalty payments is key to helping developing countries harness their mineral wealth, a report released by the World Economic Forum said on Monday. "Some of the world's poorest countries are rich in mineral resources. Using these r
Published 07 Feb, 2012 12:00am
Glencore, Xstrata hammer out premium as deal nears

Glencore, Xstrata hammer out premium as deal nears

Top executives at Glencore and Xstrata are hammering out the final details of a proposed $80 billion merger, including the premium on offer by the commodities trading giant to secure approval from the miner's shareholders. Sources involved in the talks ha
Published 07 Feb, 2012 12:00am
Greeks delay bailout talks as Merkel demands action

Greeks delay bailout talks as Merkel demands action

German Chancellor Angela Merkel told Greece on Monday to make up its mind fast on accepting the painful terms for a new EU/IMF bailout, but the country's political leaders responded by delaying their decision for yet another day. Failure to strike a deal
Published 07 Feb, 2012 12:00am
Pakistan seal historic win versus England

Pakistan seal historic win versus England

Pakistan's bowlers sealed an emphatic 71-run win in the third and final Test against England here on Monday, wrapping up a humiliating 3-0 series whitewash in the process. England were slumped to a first-ever series whitewash against their opponents. For
Published 07 Feb, 2012 12:00am
Nawaz, Shahbaz felicitate team

Nawaz, Shahbaz felicitate team

Pakistan Muslim League-Nawaz President Mian Nawaz Sharif and Punjab Chief Minister Muhammad Shahbaz Sharif have congratulated Pakistani cricket team on the clean sweep of test series against England. In their messages, they said that every member of the t
Published 07 Feb, 2012 12:00am
Mobilink felicitates team

Mobilink felicitates team

Mobilink has extended congratulations to the Pakistan cricket team on achieving a convincing series whitewash in the Jazz Cup Test series over England being held in the UAE. Jazz partnered with the Pakistan Cricket Board to organise 'The Mobilink Jazz Cup
Published 07 Feb, 2012 12:00am
President greets team, nation

President greets team, nation

President, Asif Ali Zardari, has congratulated Pakistan cricket team and the entire nation on the brilliant victory in the third Test and record clean sweep of the series against England in Dubai on Monday, says a press release. In a felicitation message,
Published 07 Feb, 2012 12:00am
Nicol century sets up overwhelming New Zealand win

Nicol century sets up overwhelming New Zealand win

Opener Rob Nicol plundered 146, the fifth highest one-day international score by a New Zealand batsman as they trounced Zimbabwe by 141 runs in the second one-day international here Monday. The victory at Cobham Oval, following the 90-run win in the first
Published 07 Feb, 2012 12:00am
Support pours in for cancer-stricken Yuvraj

Support pours in for cancer-stricken Yuvraj

Thousands of well-wishers including team-mates and politicians sent messages of support on Monday to India's World Cup-winning all-rounder Yuvraj Singh, who has been diagnosed with cancer. Yuvraj, 30, is being treated for lung cancer in Boston in the Unit
Published 07 Feb, 2012 12:00am
Argentina win women's Champions Trophy

Argentina win women's Champions Trophy

Argentina won the women's Champions Trophy for the fifth time here on Sunday with a 1-0 victory over Great Britain in the final. The Netherlands claimed the bronze medal by defeating Germany 5-4. Argentina were on top for most of the first half against th
Published 07 Feb, 2012 12:00am
Contador gets two-year ban

Contador gets two-year ban

Alberto Contador is set to lose one of his three Tour de France titles after being banned for two years by the Court of Arbitration for Sport (CAS) on Monday for failing a dope test during the 2010 race. Contador, the Tour winner in 2007, 2009 and 2010 wh
Published 07 Feb, 2012 12:00am
Prices seen mostly lower on grain market

Prices seen mostly lower on grain market

Prices fell on the wholesale grain market on Monday as supply position from the upcountry centres was good, dealers said. On the cereal side wheat old and new (Bardan) shed Rs 10 to Rs 2650-2665, other items maintained overnight levels in process of tradi
Published 07 Feb, 2012 12:00am
Oilcake market rates

Oilcake market rates

Downward trend was seen on the forward cottonseed oilcake market on Monday in process of trading, dealers said. The March vaida that had closed at 772.00 opened with a decline of 50 paisa at Rs 771.50. The March vaida which closed at Rs 699.50 opened with
Published 07 Feb, 2012 12:00am
Price differentials little changed in European cocoa market

Price differentials little changed in European cocoa market

Price differentials in the European cash cocoa market were little changed this week as dealers sought more clarity over forward-sales auctions in Ivory Coast, the world's largest producer. "Ivory Coast forward-sales auctions confused the market," one trad
Published 07 Feb, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:.

Published 07 Feb, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:.

Published 07 Feb, 2012 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

The Exchange Rates Committee of State Bank of Pakistan issued the following exchange rates bulletin here on Monday (February 06, 2012). Conversion rates for foreign currency deposits, DBC/FCBC, Special US$ Bonds and profits thereon and for forward cover f
Published 07 Feb, 2012 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 07 Feb, 2012 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Monday (February 06, 2012).

Published 07 Feb, 2012 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Monday (February 06, 2012).

Published 07 Feb, 2012 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Monday (February 06, 2012).

Published 07 Feb, 2012 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Monday (February 06, 2012).

Published 07 Feb, 2012 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Monday (February 06, 2012).
Published 07 Feb, 2012 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Monday (February 06, 2012).

Published 07 Feb, 2012 12:00am
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