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Archive - 2012-03-28
President NBP praised for record profit
Top News

President NBP praised for record profit

KARACHI: National Bank of Pakistan NBP had Rs 26 billion profit in last fiscal year signifying leadership of financial s
Published 28 Mar, 2012 04:40pm
Gold up at Rs 49,714
Markets

Gold up at Rs 49,714

KARACHI: Gold surged by Rs 300 to Rs 49,714 per 10 grams in the local market Tuesday as its international price improved
Published 28 Mar, 2012 04:33pm
Carrying arms banned in Sindh
Top News

Carrying arms banned in Sindh

KARACHI: Home Minister Sindh, Manzoor Hussain Wassan has ordered imposition of ban on carrying arms in the province. Th
Published 28 Mar, 2012 04:12pm
CM Sindh chairs law and order meeting
Top News

CM Sindh chairs law and order meeting

KARACHI: A high level law and order meeting was held on Wednesday under the chairmanship of Chief Minister Sindh, Syed Q
Published 28 Mar, 2012 04:12pm
RECORDER REPORT: KSE close of day
Top News

RECORDER REPORT: KSE close of day

KARACHI : The Karachi share market on Wednesday witnessed bullish trend on the back of local investors and institution
Published 28 Mar, 2012 01:01pm
PLN interested in US LNG imports
Top News

PLN interested in US LNG imports

SINGAPORE: Indonesian state utility Perusahaan Listrik Negara (PLN) is looking at the possibility of importing natural g
Published 28 Mar, 2012 09:44am
France grows 1.7pc in 2011
Top News

France grows 1.7pc in 2011

PARIS: The French economy expanded by 0.2 percent in the fourth quarter of 2011, the official statistics institute INSEE
Published 28 Mar, 2012 09:01am
RECORDER REPORT: KSE mid day update
Top News

RECORDER REPORT: KSE mid day update

KARACHI : On Wednesday until 12:30 P.M. , KSE-100 Index remained positive with a rising trend and was at 13,611.49 with
Published 28 Mar, 2012 08:30am
RECORDER REPORT: KSE mid day update
Top News

RECORDER REPORT: KSE mid day update

KARACHI : On Wednesday until 12:30 P.M. , KSE-100 Index remained positive with a rising trend and was at 13,611.49 with
Published 28 Mar, 2012 08:30am
Strauss case returns to US court
Europe

Strauss case returns to US court

NEW YORK: Former IMF chief Dominique Strauss-Kahn, mired in legal trouble in his native France, faces new courtroom worr
Published 28 Mar, 2012 07:16am
PTI condemns murders

PTI condemns murders

Pakistan Tahreek-e-Insaf (PTI) Chairman Imran Khan on Tuesday strongly condemned the killing of MQM activist Mansoor Mukhtar and his brother in Karachi. Khan expressed grief and sorrow over the murder of Mukhtar and offered condolences to his family. He a
Published 28 Mar, 2012 12:00am
Capacity-building training for teachers

Capacity-building training for teachers

A local non-governmental organisation with the assistance of USAID organised a three-day capacity-building training on accelerated curriculum for teachers from union councils Madiyan, Bahrain and Tirat of district Swat. The informal education project for
Published 28 Mar, 2012 12:00am
Trade and industry: violence causes Rs 10 billion loss

Trade and industry: violence causes Rs 10 billion loss

The daylong violence on Tuesday left trade and industry altogether closed in the metropolis, inflicting at least Rs 10 billion loss on businessmen and manufacturers, traders said. The killings, riots and vandalism badly affected the 2.5 million daily wage
Published 28 Mar, 2012 12:00am
Industrial production comes to a halt: markets remain closed

Industrial production comes to a halt: markets remain closed

Industrial production remained suspended in almost all seven industrial areas of the city here on Tuesday while all wholesale and retail markets remained closed owing to the daylong violence after the killing of a Muttahida Qaumi Movement (MQM) worker. Th
Published 28 Mar, 2012 12:00am
PIAF for increasing power generation

PIAF for increasing power generation

Chairman Pakistan Industrial and Traders Associations Front (PIAF) Sohail Lashari has demanded of the government to enhance power generation on war footing as 14 to 16 of power cuts likely to trigger civil disobedience in the province. Lashari in a statem
Published 28 Mar, 2012 12:00am
Industrial sector: Lesco issues loadshedding schedule

Industrial sector: Lesco issues loadshedding schedule

The Lahore Electric Supply Company (LESCO) on Tuesday has issued schedule of six hours a day load shedding for industrial sector during the peak hours ie from 6PM to 12 in the night. According to the sources, decision has been taken to facilitate the dome
Published 28 Mar, 2012 12:00am
Protest against loadshedding postponed

Protest against loadshedding postponed

President Sialkot Chamber of Commerce and Industry (SCCI) Naeem Anwar Qureshi in a press statement has said that the protest rally against load shedding scheduled on March 27 had been postponed after assurance from Chief Executive GEPCO, Mehboob Alam that
Published 28 Mar, 2012 12:00am
'Germany on the Road' exposition held in Sialkot

'Germany on the Road' exposition held in Sialkot

The German Embassy in co-operation with the Pakistan German Business Forum (PGBF) and German-linked companies and institutions active in Pakistan held a unique exhibition titled "Germany on the Road" at Sialkot International Airport on Monday afternoon.
Published 28 Mar, 2012 12:00am
Electricity outages: complete shutter-down in Faisalabad

Electricity outages: complete shutter-down in Faisalabad

Complete shutter-down strike was observed in industrial city as a mark of protest against the 18-20 hours load-shedding of the electricity, here on Tuesday, at the joint call of Faisalabad Chamber of Commerce and Industry, Anjuman-e-Tajran, PTEA, PHMA and
Published 28 Mar, 2012 12:00am
LSE holds campus outreach programme for BBA students

LSE holds campus outreach programme for BBA students

Lahore Stock Exchange (LSE) held its Campus Outreach Programme for the students of BBA here at the Beaconhouse National College University on Tuesday. Head of Investor Relations LSE Salman Ali Bokhari explained to the participants the broad features of Pa
Published 28 Mar, 2012 12:00am
Kuldip meets Nawaz

Kuldip meets Nawaz

Former member of India's Rajya Sabha, columnist and peace activist, Kuldip Nayar called on former prime minister and PML-N President Mian Nawaz Sharif at his Raiwind residence on Tuesday. During the meeting, various matters of mutual interest came under d
Published 28 Mar, 2012 12:00am
Jamaat-e-Islami holds seminar on 'Current Change and Muslim Women'

Jamaat-e-Islami holds seminar on 'Current Change and Muslim Women'

Secretary General Jamaat-e-Islami Women Wing, Dr Rukhsana Jabeen has stressed on women to get united and play their due role for their due rights and perform their responsibilities in befitting manner in the society. She said this while addressing a semin
Published 28 Mar, 2012 12:00am
Stock Exchange law to make bourses more efficient: LSE managing director

Stock Exchange law to make bourses more efficient: LSE managing director

The Lahore Stock Exchange Managing Director Aftab Ahmad Chaudhry has hoped that ongoing joint session of both the Houses was likely to pass the Demutualization of Stock Exchanges Act that would be part of the capital market restructuring reforms programme
Published 28 Mar, 2012 12:00am
Supreme Court seeks data of complaints filed against Punjab police

Supreme Court seeks data of complaints filed against Punjab police

The bench of Supreme Court of Pakistan here on Tuesday directed Advocate General Punjab to submit a statistical report showing number of complaints filed against police officers of the province, nature of complaints and subsequent conviction or exoneratio
Published 28 Mar, 2012 12:00am
Establishment of DRA: Pharma Bureau hails government's decision

Establishment of DRA: Pharma Bureau hails government's decision

Pharma Bureau, a representative body of multinational pharmaceutical companies in Pakistan, has welcomed the government's decision to establish a centralised Drug Regulatory Authority (DRA) through a Presidential Ordinance and appreciated the appointment
Published 28 Mar, 2012 12:00am
SBC, LCCI join hands to promote bilateral trade

SBC, LCCI join hands to promote bilateral trade

The Swiss Business Council (SBC) would work hand in hand with the Lahore Chamber of Commerce and Industry (LCCI) for the promotion of bilateral trade and economic relations between Pakistan and Switzerland. The President SBC, Dr Ahmad Fraz while heading a
Published 28 Mar, 2012 12:00am
KCCI points out lacunae: FBR asked to bifurcate list of tax payers

KCCI points out lacunae: FBR asked to bifurcate list of tax payers

Karachi Chamber of Commerce and Industry's Acting President Younus Muhammad Bashir has proposed Federal Board of Revenue to bifurcate the list of tax payers to whom notices were served under Section 8-A (37) and to segregate the tax-payer who strictly abi
Published 28 Mar, 2012 12:00am
German CG for exchange of trade delegations

German CG for exchange of trade delegations

German Consul General in Pakistan Dr Tilo Kilnner said on Tuesday that Germany will protect the interest of Pakistan at the European Union. Pakistan has been given the status of an ideal country for making investment, he added. Dr Kilnner visited HCCI off
Published 28 Mar, 2012 12:00am
International exposition: 'It is all about Chemistry' opens today

International exposition: 'It is all about Chemistry' opens today

An International Travelling Expo titled "It is All About Chemistry" will be held at Allama Iqbal Open University, from March 28 to 30. Talking to APP, spokesperson Pakistan Science Foundation (PSF), Rehana Batool said PSF in collaboration with Embassy of
Published 28 Mar, 2012 12:00am
Officials directed to expedite campaign against price hikers

Officials directed to expedite campaign against price hikers

Commissioner of Karachi, Roshan Ali Shaikh has directed the officials to expedite ongoing campaign against hoarders and retailers violating the price list of edibles and daily consumable items, jointly agreed upon by the Office of Commissioner and represe
Published 28 Mar, 2012 12:00am
PAC to review BoR audit reports today

PAC to review BoR audit reports today

Public Accounts Committee (PAC) has postponed its meeting scheduled on March 27 due to tension gripped Karachi after the killing of MQM activist, the same meeting would be held on Wednesday (today). The PAC had to review the deferred draft paras of financ
Published 28 Mar, 2012 12:00am
DGKCC deploys Oracle E-Business Suite Release 12

DGKCC deploys Oracle E-Business Suite Release 12

DG Khan Cement Company Limited (DGKCC), one of the largest cement-manufacturers in Pakistan, has successfully deployed the Oracle E-Business Suite Release 12, a flexible, scalable and reliable global business platform to help improve its operational effic
Published 28 Mar, 2012 12:00am
Farewell ceremony for outgoing PIA managing director held

Farewell ceremony for outgoing PIA managing director held

Managing Director PIA, Nadeem Khan Yousufzai in his farewell address to the airline officials at the Head Office impressed upon them that they must continue to be steadfast for turning around the National Flag Carrier here on Tuesday. Nadeem Khan Yousufza
Published 28 Mar, 2012 12:00am
Rain victims seek President's help

Rain victims seek President's help

The rain-hit people of taluka Sakrand of Shaheed Benazirabad district have requested President Asif Ali Zardari to issue directives to the local administration to drain out rainwater from the affected areas. They said that despite the passage of seven mon
Published 28 Mar, 2012 12:00am
Strengthening economy: US committed to working with Pakistan: CG US

Strengthening economy: US committed to working with Pakistan: CG US

Consul General of United States, William J Martin has said that the US is committed to working with Pakistan to strengthen Pakistan's economy. Speaking at Korangi Association of Trade and Industry (KATI) office he further said that the US wanted Pakistan
Published 28 Mar, 2012 12:00am
MCB Bank approves final cash dividend at 30 percent, 10 percent

MCB Bank approves final cash dividend at 30 percent, 10 percent

Board of Directors of MCB Bank has approved final cash dividend at 30 percent and 10 percent bonus issue after shareholders adopted the audited financial statements of MCB Bank Limited and its subsidiaries at MCB Bank's 64th Annual General Meeting. This i
Published 28 Mar, 2012 12:00am
MCB Bank approves final cash dividend at 30 percent, 10 percent

MCB Bank approves final cash dividend at 30 percent, 10 percent

Board of Directors of MCB Bank has approved final cash dividend at 30 percent and 10 percent bonus issue after shareholders adopted the audited financial statements of MCB Bank Limited and its subsidiaries at MCB Bank's 64th Annual General Meeting. This i
Published 28 Mar, 2012 12:00am
ICAP to hold CFO moot today

ICAP to hold CFO moot today

The Institute of Chartered Accountants of Pakistan (ICAP) is organising CFO conference at a local hotel on March 28. An ICAP official said on Tuesday that the theme is `CFOs- Driving Sustainable Organisational Success'. Professor Dr Ashfaque Hasan Khan, a
Published 28 Mar, 2012 12:00am
Power shortages - cause and effect

Power shortages - cause and effect

Power riots have hit several cities of the Punjab, including Lahore and the textile capital of the country Faisalabad. Cities and towns in other provinces have begun to witness power riots too. The loss of revenue because of unrest is staggering with crow
Published 28 Mar, 2012 12:00am
Back to state profit

Back to state profit

"Not only our future economic soundness but the very soundness of our democratic institutions depends on the determination of our government to give employment to idle men" -Franklin D. Roosevelt; profound insight from arguably the most successful America
Published 28 Mar, 2012 12:00am
Imran Khan's tsunami

Imran Khan's tsunami

The present PPP government, led by an 'accidental' president, surviving for over four years in the face of tsunami-like situations of unparalleled corruption, runaway inflation, tattered economy, catastrophic energy situation, unhinged law and order, rubb
Published 28 Mar, 2012 12:00am
Rajoy's honeymoon with Spaniards begins to fade

Rajoy's honeymoon with Spaniards begins to fade

Spanish Prime Minister Mariano Rajoy's honeymoon with the nation appears to be approaching an end as he prepares to mark 100 days in power on Thursday. The 100-day mark will coincides with a general strike, which comes after Rajoy's conservative People's
Published 28 Mar, 2012 12:00am
Weddings at PAF military bases should never be allowed

Weddings at PAF military bases should never be allowed

Please refer to different letters carried by Business Recorder on the above caption. The situation of Karachi is very alarming these days and wedding functions at military areas should not be considered, as these areas are very sensitive and there
Published 28 Mar, 2012 12:00am
Swiss franc holds uptrend

Swiss franc holds uptrend

The Swiss franc tracked the euro lower against the dollar on Tuesday, though both remained on a two week uptrend against the greenback after US Federal Reserve Chairman Ben Bernanke pledged to continue an ultra-loose monetary policy. The franc fell 0.2 pe
Published 28 Mar, 2012 12:00am
Australian and New Zealand dollars keep gains

Australian and New Zealand dollars keep gains

The Australian and New Zealand dollars held on to most of their gains against the US dollar and yen on Tuesday, after dovish comments from Federal Reserve Chief Ben Bernanke gave risk assets a fillip. The Australian dollar consolidated at $1.0519, from $1
Published 28 Mar, 2012 12:00am
Sterling climbs versus dollar

Sterling climbs versus dollar

Sterling rose to its highest in more than four months versus the dollar on Tuesday, with the US currency burdened by increasing chances of more US monetary easing and the pound able to shake off the negative effects of a shaky economic outlook in the UK.
Published 28 Mar, 2012 12:00am
Rupee, won lead Asia FX higher

Rupee, won lead Asia FX higher

The Indian rupee and the South Korean won led gains in emerging Asian currencies on Tuesday, fuelled by hopes for more stimulus for the US economy, but corporate demand for dollars heading into the end of the quarter limited their advance. Federal Reserve
Published 28 Mar, 2012 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 81.75-81.82 (previous 81.77-81.80). Call Money Rates: 10.50-12.00 percent (previous 07.00-12.50 percent.
Published 28 Mar, 2012 12:00am
Euro gains versus dollar, yen in New York

Euro gains versus dollar, yen in New York

The euro advanced against the dollar and yen for a second straight day on Monday as weaker-than-expected US data and Federal Reserve Chairman Ben Bernanke's cautious comments on the job market spurred expectations for more policy easing.
Published 28 Mar, 2012 12:00am
Early trade in New York: Dollar rises versus euro

Early trade in New York: Dollar rises versus euro

The dollar rebounded against the euro on Tuesday after two sessions of losses, but tepid US data and caution around a meeting of eurozone finance ministers later in the week kept trading range-bound. The greenback's advance came a day after comments from
Published 28 Mar, 2012 12:00am
Dollar pressured but falls seen limited

Dollar pressured but falls seen limited

The dollar hit its lowest level in four weeks against a basket of major currencies on Tuesday, extending falls from the previous day after Federal Reserve Chairman Ben Bernanke kept the door open for more monetary easing in the United States. Analysts sai
Published 28 Mar, 2012 12:00am
Dollar stays near one-month low

Dollar stays near one-month low

The dollar held near a one-month low against a basket of currencies on Tuesday after Federal Reserve Chairman Ben Bernanke signalled that a supportive monetary policy would remain and kept alive hopes of more monetary stimulus for the US economy. The doll
Published 28 Mar, 2012 12:00am
Yuan ends up

Yuan ends up

The yuan closed slightly firmer against the dollar on Tuesday but continued to trade below the mid-point fixed by the People's Bank of China (PBOC) as Chinese companies do not expect Beijing to let the currency appreciate sharply any time soon, traders sa
Published 28 Mar, 2012 12:00am
Oil stocks drag FTSE lower

Oil stocks drag FTSE lower

Heavyweight oil stocks dragged Britain's top shares lower on Tuesday, reversing earlier gains that had been driven by strength in banks and miners, as investors proved loath to push the blue chip index back up to 2012 highs. The FTSE 100 index closed down
Published 28 Mar, 2012 12:00am
Southeast Asian markets soar

Southeast Asian markets soar

Southeast Asian stock markets gained on Tuesday after Federal Reserve Chairman Ben Bernanke signalled ultra-loose monetary policy would continue. Foreign investors bought shares in Indonesia and Malaysia with a net inflow of $54.4 million and $105.1 milli
Published 28 Mar, 2012 12:00am
Seoul stocks post best day in two weeks

Seoul stocks post best day in two weeks

South Korean shares rose more than 1 percent on Tuesday, their largest daily percentage gain in two weeks, as bargain hunting sparked a rebound in recent underperformers and as index heavyweight Samsung Electronics hit fresh record highs. The Korea Compos
Published 28 Mar, 2012 12:00am
Weak energy stocks push European shares down

Weak energy stocks push European shares down

Weak oil stocks dragged European shares lower on Tuesday, led by France's Total after it warned a massive gas leak at the firm's Elgin platform in the North Sea may take six months to stop. Strategists warned that fund managers' end-of-quarter buying to m
Published 28 Mar, 2012 12:00am
Hong Kong shares rise, Shanghai weak

Hong Kong shares rise, Shanghai weak

Hong Kong shares rose on Tuesday, with locally listed Chinese stocks climbing for the first time in 10 days, as hopes of continued ultra-loose monetary policies in the United States spurred short-covering and offset concerns over corporate results. The mo
Published 28 Mar, 2012 12:00am
Indian shares gain

Indian shares gain

Indian shares rose 1.2 percent on Tuesday, led by short covering ahead of expiry of the March derivatives series, after reports that the government would not target the so-called participatory notes in a blanket manner under its newly proposed rules targe
Published 28 Mar, 2012 12:00am
US bond prices dip

US bond prices dip

US government debt prices fell on Monday on reduced bids for lower-risk Treasuries as worries about Europe eased, snapping a four-session winning streak ahead of this week's $99 billion in coupon supply. The renewed market sell-off came even after dour co
Published 28 Mar, 2012 12:00am
US bond prices dip

US bond prices dip

US government debt prices fell on Monday on reduced bids for lower-risk Treasuries as worries about Europe eased, snapping a four-session winning streak ahead of this week's $99 billion in coupon supply. The renewed market sell-off came even after dour co
Published 28 Mar, 2012 12:00am
Taiwan stocks higher

Taiwan stocks higher

Taiwan stocks ended up 0.78 percent on Tuesday, joining gains in region bourses, with car makers and heavyweights Hon Hai and TSMC leading the rise. The main TAIEX index rose 61.84 points to 8,029.46, after opening up 0.82 percent, with the automobile sub
Published 28 Mar, 2012 12:00am
Bernanke's words drive Wall Street up one percent

Bernanke's words drive Wall Street up one percent

The S&P 500 rebounded from its worst week so far this year to retake a four-year high on Monday after Federal Reserve Chairman Ben Bernanke signalled supportive monetary policy will remain even though the job picture has begun to improve. The three major
Published 28 Mar, 2012 12:00am
Tuesday's midday trade: Wall Street pauses

Tuesday's midday trade: Wall Street pauses

Wall Street paused near four-year highs on Tuesday, while a number of large-cap stocks hit new highs as portfolio managers grabbed top performers as the end of the quarter approached. With the quarter ending Friday, portfolio managers adjusted holdings by
Published 28 Mar, 2012 12:00am
Nikkei, Topix both climb 2.4 percent

Nikkei, Topix both climb 2.4 percent

Japan's Nikkei average hit its highest closing level on Tuesday since a massive earthquake and tsunami triggered a radiation crisis a year ago, buoyed by indications the US Federal Reserve may keep its supportive monetary policy. The benchmark Nikkei rose
Published 28 Mar, 2012 12:00am
Most Gulf Arab markets fall

Most Gulf Arab markets fall

Most Gulf Arab markets fell on Tuesday as an early-year rally gave way to consolidation, with investors now wanting to see if first-quarter results can justify recent share price gains. Saudi Arabia's index fell for a first session in five, slipping from
Published 28 Mar, 2012 12:00am
Investors grapple with higher wages in 'low-cost' China

Investors grapple with higher wages in 'low-cost' China

US lawnmower manufacturer Briggs & Stratton is used to worrying about turnover - just not the human kind. Like many foreign investors in China, the Milwaukee-based firm has been hit by a steady rise in wages - which puts it in the same boat as many US bus
Published 28 Mar, 2012 12:00am
Brazil economy slips in January as industry slumps

Brazil economy slips in January as industry slumps

Brazil's economic activity slipped in January, central bank data showed on Monday, as weak exports and a sharper-than-expected decline in industrial output offset buoyant retail sales. The central bank's IBC-Br economic activity index , a closely watched
Published 28 Mar, 2012 12:00am
India's '$211 billion' coal row final report backs leak

India's '$211 billion' coal row final report backs leak

A report critical of the Indian government's handling of a coal fields sale will not change substantially from a leaked draft that talked of $211 billion in lost revenues, sources said, after the government tried to downplay the findings.
Published 28 Mar, 2012 12:00am
Sudan eyes up to $1.5 billion with pipeline-backed sukuk

Sudan eyes up to $1.5 billion with pipeline-backed sukuk

Sudan aims to raise $1 billion to $1.5 billion this year with Islamic "sukuk" bonds that offer stakes in an oil pipeline, a move the African country hopes will draw more Gulf Arab investment to its debt market, a senior official said on Monday. Sudan Fina
Published 28 Mar, 2012 12:00am
Sudan eyes up to $1.5 billion with pipeline-backed sukuk

Sudan eyes up to $1.5 billion with pipeline-backed sukuk

Sudan aims to raise $1 billion to $1.5 billion this year with Islamic "sukuk" bonds that offer stakes in an oil pipeline, a move the African country hopes will draw more Gulf Arab investment to its debt market, a senior official said on Monday. Sudan Fina
Published 28 Mar, 2012 12:00am
Hungary may tap foreign markets before IMF deal

Hungary may tap foreign markets before IMF deal

Hungary could issue a foreign currency bond even before it reaches agreement on a new loan with the EU and the International Monetary Fund as long as market conditions prove favourable, the head of debt agency AKK said last Thursday. The country's conserv
Published 28 Mar, 2012 12:00am
South Sudan to complete new airport terminal, eyes port

South Sudan to complete new airport terminal, eyes port

South Sudan plans to mark its emergence onto the world stage as an independent oil producer by completing a new airport terminal in June as a showcase for business visitors to the capital Juba, a government official said on Thursday. "It is our highest pr
Published 28 Mar, 2012 12:00am
Finland ready to compromise on bigger bailout fund

Finland ready to compromise on bigger bailout fund

Finland is prepared to compromise on creating a bigger rescue fund for the euro zone despite scepticism over whether it is needed, Prime Minister Jyrki Katainen said on Saturday. Euro zone finance ministers will discuss the issue at a meeting in Copenhage
Published 28 Mar, 2012 12:00am
Finland ready to compromise on bigger bailout fund

Finland ready to compromise on bigger bailout fund

Finland is prepared to compromise on creating a bigger rescue fund for the euro zone despite scepticism over whether it is needed, Prime Minister Jyrki Katainen said on Saturday. Euro zone finance ministers will discuss the issue at a meeting in Copenhage
Published 28 Mar, 2012 12:00am
Reluctant hero BoJ not as trigger-happy as many think

Reluctant hero BoJ not as trigger-happy as many think

Japanese central bankers are reluctant to take much credit for the yen's spectacular retreat since last month's one-two punch of monetary easing and inflation targeting, a sign they are worried markets and politicians have gone too far in expecting furthe
Published 28 Mar, 2012 12:00am
Opel labour chiefs reject local talks on cuts

Opel labour chiefs reject local talks on cuts

Labour representatives at General Motors' loss-making European unit Opel said on Monday they would not engage in plant-by-plant talks on restructuring measures, preferring a Europe-wide strategy to save factories and jobs. People familiar with the company
Published 28 Mar, 2012 12:00am
Qantas, China Eastern to set up Hong Kong budget airline

Qantas, China Eastern to set up Hong Kong budget airline

China Eastern Airlines Corp Ltd has joined with Australia's Qantas to set up a regional low-cost carrier, marking the first move by a big Chinese airline into the growing but overcrowded no-frills sector. China's third-largest airline by market value and
Published 28 Mar, 2012 12:00am
Greece has 7-8 months to turn around economy

Greece has 7-8 months to turn around economy

Greece has seven to eight months to turn around its recession-hit economy and make use of EU funds and a landmark debt rollover or market fears will return, the prime minister's economic advisor said on Monday. "The measures we are adopting now will start
Published 28 Mar, 2012 12:00am
Vietnam's economic growth slows to three-year low

Vietnam's economic growth slows to three-year low

Vietnam's economic growth in the first quarter of 2012 slowed to a three-year low as domestic demand weakened and as local industries grappled with high inventories. First-quarter growth slowed to 4 percent from a year ago, the lowest rate since January-M
Published 28 Mar, 2012 12:00am
Bolivia to first tap global debt markets in over 90 years

Bolivia to first tap global debt markets in over 90 years

Bolivia plans to issue up to $500 million in global bonds in the first half of the year in the Andean country's first international debt sale in more than 90 years, Economy Minister Luis Arce said on Friday. "Today Bolivia has the great opportunity to rec
Published 28 Mar, 2012 12:00am
Bolivia to first tap global debt markets in over 90 years

Bolivia to first tap global debt markets in over 90 years

Bolivia plans to issue up to $500 million in global bonds in the first half of the year in the Andean country's first international debt sale in more than 90 years, Economy Minister Luis Arce said on Friday. "Today Bolivia has the great opportunity to rec
Published 28 Mar, 2012 12:00am
Yahoo names three new independent directors to board

Yahoo names three new independent directors to board

Yahoo Inc has appointed three new independent directors as it prepares for a proxy fight with activist hedge fund investor Daniel Loeb. John D. Hayes, chief marketing officer of American Express; Peter Liguori, former chief operating officer of Discovery
Published 28 Mar, 2012 12:00am
China, India 2030 coal imports may hit 1.4 billion tonnes

China, India 2030 coal imports may hit 1.4 billion tonnes

China's thermal coal imports could soar to one billion tonnes in 2030 from just 175 million in 2011, while India's imports will be at least 400 million tonnes in that same year, five times last year's levels, research consultants Wood Mackenzie said.
Published 28 Mar, 2012 12:00am
Dry bulkers face worst pain in shipping slump

Dry bulkers face worst pain in shipping slump

The dry bulk shipping sector faces the heaviest oversupply pressures over the next 12 to 18 months compared with the oil tanker and container markets and will be last of the three to recover, Standard & Poor's said on Tuesday. Ship owners went on an orde
Published 28 Mar, 2012 12:00am
Morocco eyes first Islamic bank launch in 2013

Morocco eyes first Islamic bank launch in 2013

Foreign Islamic banks will be allowed to take up to 49 percent of Morocco's first fully-fledged Islamic bank in 2013, as the country aims to become a regional financial hub, a government minister said on Monday. The government will submit to parliament a
Published 28 Mar, 2012 12:00am
Tapping oil from US reserve may be trickier than ever

Tapping oil from US reserve may be trickier than ever

The US Strategic Petroleum Reserve is not quite as strategic as it used to be. As President Barack Obama moves closer to an unprecedented second release of the US emergency oil stockpile in a bid to bring down near-record fuel prices, experts say dramatic
Published 28 Mar, 2012 12:00am
Grain market closed

Grain market closed

The Karachi wholesale grain and seed markets were closed on Tuesday due to disturbed law and order situation in the city. As a result of killing of a MQM activist, life was brought to almost stand still in the city, there was no traffic on roads, all mark
Published 28 Mar, 2012 12:00am
US corn features close lower

US corn features close lower

Chicago Board of Trade corn futures closed lower on Monday on unwinding of corn/soy spreads as the soybean market attempts to buy acres ahead of the 2012 US seeding season and on positioning before a big US government plantings report at the end of the we
Published 28 Mar, 2012 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 103,014 tonnes of cargo including 59,071 tonnes of import, 43,943 tonnes of export cargo and 4,355 loaded and empty containers (TEUs) during the last 24 hours of business activities ended at 0700 hours on Tuesday. The total import
Published 28 Mar, 2012 12:00am
FOB Gulf soyabean premiums hold steady on China demand

FOB Gulf soyabean premiums hold steady on China demand

US soyabean export premiums at the Gulf Coast were mostly steady on Monday amid moderate export demand and increased supplies in the export pipeline following another wave of farmer selling, traders said. Nearby CIF basis values slipped from Friday's high
Published 28 Mar, 2012 12:00am
Philippines set to sign rice supply deal with Cambodia

Philippines set to sign rice supply deal with Cambodia

The Philippines is close to signing a government-to-government rice supply agreement that would make Cambodia a potential supplier of the grain staple to Manila, along with Vietnam and Thailand, agriculture officials said on Monday. The Southeast Asian ne
Published 28 Mar, 2012 12:00am
US wheat features end higher

US wheat features end higher

US wheat futures rose for the third straight day on Monday as investors covered short positions, traders said. Traders also noted some position squaring ahead of the US Agriculture Department's prospective plantings report on Friday. The benchmark CBOT Ma
Published 28 Mar, 2012 12:00am
Dry weather worries Ivorian cocoa farmers

Dry weather worries Ivorian cocoa farmers

Flowers and pods on cocoa trees in some of Ivory Coast's main growing areas are drying up and dying after two weeks without rain, farmers said on Monday, signalling bad news for the coming mid-crop season. A weak April-to-September mid-crop would exacerba
Published 28 Mar, 2012 12:00am
Canadian canola hits 13-month peak

Canadian canola hits 13-month peak

Canadian canola futures surged to the highest level in more than a year on Monday on spillover strength from rallying Chicago soyabean and MATIF rapeseed futures lifted the oilseed by 1.6 percent. Canola futures drew additional support from strong demand
Published 28 Mar, 2012 12:00am
Brazil soya crop sales rise: Celeres

Brazil soya crop sales rise: Celeres

Sales of Brazil's 2011/12 soyabean crop rose to 65 percent of the total expected production of 69.8 million tonnes, up from 58 percent a week earlier, analysts Celeres said on Monday. Harvest is peaking across the main center-west and southern soya belts,
Published 28 Mar, 2012 12:00am
Euro crisis needs 'mother of all firewalls': OECD

Euro crisis needs 'mother of all firewalls': OECD

Eurozone finance ministers need to impress finance markets with the size of their rescue fund for indebted countries when they meet later this week, the head of the OECD said on Tuesday, advocating "the mother of all firewalls". Investors and many Europea
Published 28 Mar, 2012 12:00am
Hedge funds take profits after bumper first quarter

Hedge funds take profits after bumper first quarter

Hedge funds are cashing in some of their chips after enjoying a bumper first quarter, wary that a sudden change in market sentiment could see them take the sort of losses suffered in last year's volatile markets. Hedge funds returned 5 percent in the firs
Published 28 Mar, 2012 12:00am
Hedge funds take profits after bumper first quarter

Hedge funds take profits after bumper first quarter

Hedge funds are cashing in some of their chips after enjoying a bumper first quarter, wary that a sudden change in market sentiment could see them take the sort of losses suffered in last year's volatile markets. Hedge funds returned 5 percent in the firs
Published 28 Mar, 2012 12:00am
Iraq seeks Arab debt write-off as summit opens

Iraq seeks Arab debt write-off as summit opens

Iraq asked countries at an Arab League summit on Tuesday to forgive its pre-invasion debts, urging others to follow the United Arab Emirates and Algeria which have already agreed to write off what they were owed by their fellow Opec member. "We've asked S
Published 28 Mar, 2012 12:00am
Iraq approves $560 million for Kurdish oil payments

Iraq approves $560 million for Kurdish oil payments

Iraq's central government has approved payment of close to $560 million to oil producers in the autonomous Kurdish region, its finance minister said, after Kurdish authorities threatened to halt exports due to a lack of payments from Baghdad. The central
Published 28 Mar, 2012 12:00am
Russia must face up to economic challenges: World Bank

Russia must face up to economic challenges: World Bank

Russia is enjoying a period of solid growth but must tackle several challenges to overcome its dependence on oil exports and improve long-term output, the World Bank said on Tuesday. Just over one month before Vladimir Putin returns to the Kremlin for a n
Published 28 Mar, 2012 12:00am
Russia must face up to economic challenges: World Bank

Russia must face up to economic challenges: World Bank

Russia is enjoying a period of solid growth but must tackle several challenges to overcome its dependence on oil exports and improve long-term output, the World Bank said on Tuesday. Just over one month before Vladimir Putin returns to the Kremlin for a n
Published 28 Mar, 2012 12:00am
Spain slides into recession as strike, new cuts loom

Spain slides into recession as strike, new cuts loom

Spain's unemployment-scarred economy has skidded back into recession, a Bank of Spain report said Tuesday, days before a general strike and a biting austerity budget. The report confirmed widespread forecasts of a second straight quarterly slump in the fi
Published 28 Mar, 2012 12:00am
Italy's UniCredit posts massive net loss

Italy's UniCredit posts massive net loss

UniCredit, Italy's biggest lender and one of Europe's top banks, posted a massive net loss for 2011 on Tuesday but a better-than-expected profit in the fourth quarter cheered investors. The bank made a loss of 9.21 billion euros ($12.3 billion) following
Published 28 Mar, 2012 12:00am
Italy's UniCredit posts massive net loss

Italy's UniCredit posts massive net loss

UniCredit, Italy's biggest lender and one of Europe's top banks, posted a massive net loss for 2011 on Tuesday but a better-than-expected profit in the fourth quarter cheered investors. The bank made a loss of 9.21 billion euros ($12.3 billion) following
Published 28 Mar, 2012 12:00am
US consumer confidence eases, inflation view jumps

US consumer confidence eases, inflation view jumps

Americans this month ratcheted up their expectations on inflation to the highest level in 10 months and consumer confidence waned, though the economic recovery was still seen on track. Separate data on Tuesday showed home prices were unchanged in January
Published 28 Mar, 2012 12:00am
Recent US job growth not a fluke: White House aide

Recent US job growth not a fluke: White House aide

Private economists have gone overboard in attributing some of the US job market's recent strength to good weather and quirks in government data, a senior White House economist said on Tuesday. Wall Street analysts have pointed to a mild winter in the Unit
Published 28 Mar, 2012 12:00am
US proposes first carbon limits on power plants

US proposes first carbon limits on power plants

The Obama administration proposed on Tuesday the first ever standards to cut carbon dioxide emissions from new power plants, a move likely to be hotly contested by Republicans and industry in an election year. The Environmental Protection Agency proposed
Published 28 Mar, 2012 12:00am
BP sells North Sea gas assets for $400 million

BP sells North Sea gas assets for $400 million

British energy group BP said Tuesday it has agreed to sell assets including gas fields in the North Sea to Anglo-French peer Perenco for $400 million (300 million euros) in cash. The deal to sell southern gas assets (SGA) further helps BP to unlock billio
Published 28 Mar, 2012 12:00am
BRICS seek unity and influence at Delhi summit

BRICS seek unity and influence at Delhi summit

The leaders of BRICS countries gather on Thursday for their fourth summit, with the emerging market bloc struggling to convert its growing economic strength into collective diplomatic clout. Brazil, Russia, India, China and South Africa represent 40 perce
Published 28 Mar, 2012 12:00am
Apple CEO in China mission to clear up problems

Apple CEO in China mission to clear up problems

Apple Inc Chief Executive Tim Cook has jetted into China for talks with government officials as he seeks to clear up a pile of problems in the firm's biggest growth market, from its contested iPad trademark to treatment of local labour.
Published 28 Mar, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:.
Published 28 Mar, 2012 12:00am
New York cotton

New York cotton

The fluctuations observed during the day:.
Published 28 Mar, 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 Tuesday (March 27, 2012). Conversion rates for foreign currency deposits, DBC/FCBC, Special US$ Bonds and profits thereon and for forward cover for
Published 28 Mar, 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 28 Mar, 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 Tuesday (March 27, 2012).
Published 28 Mar, 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 Tuesday (March 27, 2012).
Published 28 Mar, 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 Tuesday (March 27, 2012).
Published 28 Mar, 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 Tuesday (March 27, 2012).
Published 28 Mar, 2012 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Tuesday (March 27, 2012).
Published 28 Mar, 2012 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Tuesday (March 27, 2012).
Published 28 Mar, 2012 12:00am
Yaseen to be cross-examined by Ijaz's counsel

Yaseen to be cross-examined by Ijaz's counsel

The Counsel of US businessman Mansoor Ijaz will cross-examine Yaseen Malik, Chairman Jummu and Kashmir Liberation Front (JKLF), over the latter's statement that he did not meet the then head of RAW in 2000 as claimed by Ijaz during his testimony. In the m
Published 28 Mar, 2012 12:00am
Yaseen to be cross-examined by Ijaz's counsel

Yaseen to be cross-examined by Ijaz's counsel

The Counsel of US businessman Mansoor Ijaz will cross-examine Yaseen Malik, Chairman Jummu and Kashmir Liberation Front (JKLF), over the latter's statement that he did not meet the then head of RAW in 2000 as claimed by Ijaz during his testimony. In the m
Published 28 Mar, 2012 12:00am
Parliamentary review must respect our security needs: US President

Parliamentary review must respect our security needs: US President

US President Barack Obama told Pakistan Prime Minister Yusuf Raza Gilani on Tuesday he hoped a Pakistan parliamentary review of fraught ties with Washington would be balanced and respect US security needs. In the highest-level contact between the uneasy a
Published 28 Mar, 2012 12:00am
Parliamentary review must respect our security needs: US President

Parliamentary review must respect our security needs: US President

US President Barack Obama told Pakistan Prime Minister Yusuf Raza Gilani on Tuesday he hoped a Pakistan parliamentary review of fraught ties with Washington would be balanced and respect US security needs. In the highest-level contact between the uneasy a
Published 28 Mar, 2012 12:00am
Opposition demands redraft of PCNS report

Opposition demands redraft of PCNS report

A debate on new terms of engagement with the US was further delayed on Tuesday due to the persistent deadlock following some tough conditions by the opposition. It demanded a redraft of the report presented by Parliamentary Committee on National Security.
Published 28 Mar, 2012 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (March 27, 2012).
Published 28 Mar, 2012 12:00am
Opposition demands redraft of PCNS report

Opposition demands redraft of PCNS report

A debate on new terms of engagement with the US was further delayed on Tuesday due to the persistent deadlock following some tough conditions by the opposition. It demanded a redraft of the report presented by Parliamentary Committee on National Security.
Published 28 Mar, 2012 12:00am
Pakistan, India agree to deepen dialogue process

Pakistan, India agree to deepen dialogue process

Pakistan and India have agreed to further increase bilateral engagements to promote the ongoing peace process between the two nations, the Pakistani government said in a statement Tuesday. The announcement was made by the office of Prime Minister Yousuf R
Published 28 Mar, 2012 12:00am
Pakistan, India agree to deepen dialogue process

Pakistan, India agree to deepen dialogue process

Pakistan and India have agreed to further increase bilateral engagements to promote the ongoing peace process between the two nations, the Pakistani government said in a statement Tuesday. The announcement was made by the office of Prime Minister Yousuf R
Published 28 Mar, 2012 12:00am
If convicted, Gilani could be sent to Adiyala jail: Aitzaz

If convicted, Gilani could be sent to Adiyala jail: Aitzaz

Supreme Court on Tuesday adjourned the hearing of contempt of court case against Prime Minister Syed Yousuf Raza Gilani till April 12 after his counsel Aitzaz Ahsan submitted that he could not advance his arguments in the matter due to ill health.
Published 28 Mar, 2012 12:00am
If convicted, Gilani could be sent to Adiyala jail: Aitzaz

If convicted, Gilani could be sent to Adiyala jail: Aitzaz

Supreme Court on Tuesday adjourned the hearing of contempt of court case against Prime Minister Syed Yousuf Raza Gilani till April 12 after his counsel Aitzaz Ahsan submitted that he could not advance his arguments in the matter due to ill health.
Published 28 Mar, 2012 12:00am
Index gains 163 points

Index gains 163 points

A bullish trend was witnessed at the Karachi share market on Tuesday on the back of healthy buying by local investors mainly in cement and banking sector stocks, analysts said. The benchmark KSE-100 index surged by 163.00 points and closed at the level of
Published 28 Mar, 2012 12:00am
Index gains 163 points

Index gains 163 points

A bullish trend was witnessed at the Karachi share market on Tuesday on the back of healthy buying by local investors mainly in cement and banking sector stocks, analysts said. The benchmark KSE-100 index surged by 163.00 points and closed at the level of
Published 28 Mar, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

Jubilee Life Insurance Meeseq Fund Rates on Tuesday (March 27, 2012).
Published 28 Mar, 2012 12:00am
Index gains 163 points

Index gains 163 points

A bullish trend was witnessed at the Karachi share market on Tuesday on the back of healthy buying by local investors mainly in cement and banking sector stocks, analysts said. The benchmark KSE-100 index surged by 163.00 points and closed at the level of
Published 28 Mar, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

Jubilee Life Insurance Meeseq Fund Rates on Tuesday (March 27, 2012).
Published 28 Mar, 2012 12:00am
BRIndex30 up by 132.24 points

BRIndex30 up by 132.24 points

On Tuesday, BRIndex30 opened at 10,098.80 and remained positive throughout the trading session. It touched an intraday high of 10,256.85 and an intraday Low of 10,116.50 and closed at 10,231.04 which was 132.24 points or 1.31 percent higher than previous
Published 28 Mar, 2012 12:00am
JLI MEESEQ Fund Rates

JLI MEESEQ Fund Rates

Jubilee Life Insurance Meeseq Fund Rates on Tuesday (March 27, 2012).
Published 28 Mar, 2012 12:00am
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