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Print - 2010-05-16
No regulatory duty on imported material yarn

No regulatory duty on imported material yarn

The Federal Board of Revenue has announced that 15 percent regulatory duty on export of yarn or the component of blended yarn made from the material imported under any temporary import-cum-export notification would not be charged.
Published 16 May, 2010 12:00am
No regulatory duty on imported material yarn

No regulatory duty on imported material yarn

The Federal Board of Revenue has announced that 15 percent regulatory duty on export of yarn or the component of blended yarn made from the material imported under any temporary import-cum-export notification would not be charged.
Published 16 May, 2010 12:00am
Hamesh handed over to NAB on 14 days' remand

Hamesh handed over to NAB on 14 days' remand

An Accountability Court here on Saturday handed over Hamesh Khan, main accused of Rs 9 billion Bank of Punjab scam, to National Accountability Bureau (NAB) on 14 days' physical remand. NAB officials, who brought him in the city from the US on May 14, pres
Published 16 May, 2010 12:00am
Hamesh handed over to NAB on 14 days' remand

Hamesh handed over to NAB on 14 days' remand

An Accountability Court here on Saturday handed over Hamesh Khan, main accused of Rs 9 billion Bank of Punjab scam, to National Accountability Bureau (NAB) on 14 days' physical remand. NAB officials, who brought him in the city from the US on May 14, pres
Published 16 May, 2010 12:00am
The Weather

The Weather

The weather report on Saturday (May 15, 2010) and the forecast for Sunday (May 16, 2010).

Published 16 May, 2010 12:00am
Rates of Pipe Fittings

Rates of Pipe Fittings

Pipe fitting rates in rupees prevailing in the markets in Karachi on Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
Iron, steel and other metal rates

Iron, steel and other metal rates

Iron, steel and other metal rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
Automart: car prices in Karachi

Automart: car prices in Karachi

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
World Shipping Schedule

World Shipping Schedule

Karachi Port's world-wide shipping schedule beginning Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
Bullion Rates

Bullion Rates

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
Cotton Spot Rates

Cotton Spot Rates

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
Poultry Rates

Poultry Rates

Wholesale poultry rates on Saturday (May 15, 2010) and for Sunday (May 16, 2010)
Published 16 May, 2010 12:00am
Lahore Grain Market Rates

Lahore Grain Market Rates

Grain and other commodity rates in rupees on Akbari Mandi on Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
Hides and skin rates

Hides and skin rates

Hides and skin rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
Grain market rates

Grain market rates

Karachi grain market rates in rupees on Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
Rates of dry fruit

Rates of dry fruit

Rates of dry fruit in rupees prevailing on the commodity markets in Karachi on Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
Jute goods rates

Jute goods rates

Jute goods rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
Raw rubber rates

Raw rubber rates

Raw Rubber rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
Milk powder rates

Milk powder rates

Milk Powder rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
Karachi tea rates

Karachi tea rates

Tea rates in rupees prevailing on the commodity markets in Karachi on Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
Member to Member

Member to Member

The following transactions member to member subsequently reported on Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
World currencies and dollar

World currencies and dollar

Value of the dollar in terms of other world currencies as prevailing in the week ended Saturday (May 15, 2010).

Published 16 May, 2010 12:00am
Euro bailout just gains time: ECB economist

Euro bailout just gains time: ECB economist

The 750-billion-euro rescue package to shore up weak eurozone economies has only bought time, the chief economist of the European Central Bank said Saturday.
Published 16 May, 2010 12:00am
EBRD ups emerging Europe forecast

EBRD ups emerging Europe forecast

The European Bank for Reconstruction and Development (EBRD) on Saturday raised its 2010 economic forecast for emerging Europe to 3.7 percent, from 3.3 percent, despite expected slower growth in some economies. The development bank said the revision of its
Published 16 May, 2010 12:00am
Schwarzenegger compares California's woes to eurozone

Schwarzenegger compares California's woes to eurozone

California Governor Arnold Schwarzenegger on Friday compared the state's predicament to that of weaker eurozone economies and called for scrapping the state welfare system to close a $19.1 billion budget gap. The movie star turned governor said California
Published 16 May, 2010 12:00am
US regulators seize Midwest Bank and Trust

US regulators seize Midwest Bank and Trust

US regulators seized four more banks on Friday, including Midwest Bank and Trust Co of Elmwood Park, Illinois, which had $3.17 billion in assets. The failures bring the year tally up to 72. Small banks are continuing to collapse at a rapid pace, with dete
Published 16 May, 2010 12:00am
Obama pushes Wall Street reform with populism

Obama pushes Wall Street reform with populism

President Barack Obama on Saturday called for swift Senate action on a sweeping overhaul of Wall Street rules to "secure America's economic future" as a reform bill moves into the decisive stage next week. With months to go before November's pivotal congr
Published 16 May, 2010 12:00am
'Unilateral UK banking reform a possibility'

'Unilateral UK banking reform a possibility'

Britain's new business minister Vince Cable said the coalition government was ready to act alone in restructuring the banking sector. In an interview published in Saturday's Financial Times, Cable, 67, said change was inevitable. "We're not going back to
Published 16 May, 2010 12:00am
Spain gives 10 days for labour reform pact

Spain gives 10 days for labour reform pact

The Spanish government has told trade unions and employers they have 10 more days to reach agreement on labour reform or the government will overrule them and impose its own, newspaper El Mundo reported on Saturday. The labour market overhaul is seen as a
Published 16 May, 2010 12:00am
Venezuela raids foreign exchange businesses

Venezuela raids foreign exchange businesses

Venezuelan authorities have raided four money-changing businesses and arrested one man in the start of a clampdown on what President Hugo Chavez calls capitalist speculators distorting the currency market. The Attorney General's office said on Saturday th
Published 16 May, 2010 12:00am
China's revaluation would hurt US: World Bank economist

China's revaluation would hurt US: World Bank economist

The chief economist for the World Bank said on Saturday that if China were to revalue its currency it would actually hurt rather than help the US economy. Speaking to students on China's role in the future global economy, Justin Yifu Lin said critics who
Published 16 May, 2010 12:00am
Google got wireless data inadvertently

Google got wireless data inadvertently

Google Inc said its fleet of cars responsible for photographing streets around the world have for several years accidentally collected personal information - which a security expert said could include email messages and passwords - sent by consumers over
Published 16 May, 2010 12:00am
Qatar sees oil prices pressed by European debt crisis

Qatar sees oil prices pressed by European debt crisis

Qatar expects further pressure on oil prices from the uncertainty engendered by the European debt crisis, its oil minister said on Saturday. "The oil price is not reflective of demand and supply, but psychological (factors) and uncertainty, especially in
Published 16 May, 2010 12:00am
Ryanair fined three million euros over volcano cancellations

Ryanair fined three million euros over volcano cancellations

Italy fined Irish budget airline Ryanair three million euros on Saturday for failing to honour its obligations to assist passengers after cancelling their flights over volcanic ash. Italy's civil aviation authority ENAC said following an investigation it
Published 16 May, 2010 12:00am
Europe needs quantum leap in budget oversight: Trichet

Europe needs quantum leap in budget oversight: Trichet

Europe's central bankers said on Saturday their governments had at best bought time with a $1 trillion rescue, and called for radical action to curb budget deficits and harsh punishments for those who strayed. "There is a need for a quantum leap in the go
Published 16 May, 2010 12:00am
Faisalabad yarn rates continuously fall

Faisalabad yarn rates continuously fall

Cotton consumption sharply fell in this week and prices decrease Rs 80 to Rs 200. Yarn rates continuously down due to crises and regulatory duty. At 15 May Saturday evening 7/S, 10/S, 16/S counts rate down 10 to 70 rupees, 10/S Soft down 30 to 200 rupees,
Published 16 May, 2010 12:00am
Oil cake market rates

Oil cake market rates

Rising trend was witnessed on the forward cottonseed oilcake market on Saturday in slow trading, dealers said. The May contract had ended at Rs 1105.70, opened with a rise of 20 paisa at Rs 1105.90, dealers said. The July vaida that closed at Rs 969.20 op
Published 16 May, 2010 12:00am
Tug of war over prices continue, business at standstill

Tug of war over prices continue, business at standstill

No major change was seen in the obtaining scenario on the cotton market on Saturday as both buyers and sellers were analysing the latest development after the Regulator Duty (RD), dealers said. The Karachi Cotton Association (KCA) official spot was unchan
Published 16 May, 2010 12:00am
Lean business on grain market

Lean business on grain market

Thin activity was seen on the local wholesale grain market on Saturday as many preferred to be sidelined due to bullish trend in the rates, dealers said. On the cereals side, wheat old and new Bardana (with bag) rose by Rs 50 to Rs 2400-2415, respectively
Published 16 May, 2010 12:00am
EU wheat prices firmer, helped by euro slide

EU wheat prices firmer, helped by euro slide

Prices in major west European wheat markets were mainly firmer on Friday, as a tumbling euro boosted export prospects but volumes were thin after Thursday's public holiday in several countries, traders said. Euronext milling wheat futures were firm with h
Published 16 May, 2010 12:00am
US Midwest soya bids weak, corn flat, wheat firm

US Midwest soya bids weak, corn flat, wheat firm

Soyabean spot basis bids eased at river terminals and firmed at US Midwest interior points on Friday while corn and soft red winter wheat bids held steady across the region, grain merchants said. Very little farmer selling reported as futures for all thre
Published 16 May, 2010 12:00am
Corn premiums rise at US Gulf

Corn premiums rise at US Gulf

US corn export premiums rose at the US Gulf on rising demand for exporters looking to load boats and fill export elevators, traders said. Traders were still talking about possible purchase by China but that speculation had receded into the background afte
Published 16 May, 2010 12:00am
Philippines may allow seven firms to import sugar

Philippines may allow seven firms to import sugar

The Philippines may award rights to seven firms to import 21,850 tonnes of sugar for arrival by July 31 after a state auction on Friday, government officials said. The volume is just slightly under the 22,700 tonnes Manila was seeking to import - the rema
Published 16 May, 2010 12:00am
China's corn imports depend on weather, prices

China's corn imports depend on weather, prices

The chance of China importing more corn in coming months depends largely on whether Beijing can tame runaway domestic prices and if bad weather threatens the new harvest, Chinese market participants said on Friday. China's state grain trader COFCO Co Ltd
Published 16 May, 2010 12:00am
HRW wheat bids steady

HRW wheat bids steady

Cash basis bids for hard red winter wheat in the US Plains were steady on Friday as the market remained lacklustre and harvest started rolling in Texas. Offers on the spot market were notable while mill demand was light. Protein premiums for railcar wheat
Published 16 May, 2010 12:00am
ICE may open door to Brazil coffee

ICE may open door to Brazil coffee

After years of lobbying, the world's biggest coffee producer may finally get its wish - the opportunity to deliver some of Brazil's beans against the world's benchmark arabica futures contract. In the long term, a proposal now before the IntercontinentalE
Published 16 May, 2010 12:00am
Recovery concerns drag US copper to one-week low

Recovery concerns drag US copper to one-week low

US copper futures settled at a one-week low on Friday, under pressure from a firmer dollar and fears that new austerity measures in Europe and potential fiscal tightening in China could slow an already fragile economic recovery.
Published 16 May, 2010 12:00am
US gold flat after rally but posts fourth weekly rise

US gold flat after rally but posts fourth weekly rise

Gold ended flat on Friday after an early rally to record highs fizzled, but the metal posted its fourth straight weekly increase as jittery investors fretted that a $1 trillion European rescue could be too late to contain debt contagion.
Published 16 May, 2010 12:00am
US rice tumbles

US rice tumbles

US rice futures closed lower on Friday on pressure from a firm dollar and a plentiful US supply of rice. CBOT May expired down 9-1/2 cents at $11.60-1/2 per cwt. July down 10 cents per cwt at $11.80-1/2. No deliveries on May.
Published 16 May, 2010 12:00am
Risk aversion deflates sugar, coffee and cocoa

Risk aversion deflates sugar, coffee and cocoa

Soft commodity markets took a beating Friday as risk aversion hit financial assets, with raw sugar sinking over 5.0 percent and analysts predicting more pain going into next week. New York's July raw sugar contract dropped 0.56 cent to end at 14.13 cents
Published 16 May, 2010 12:00am
US soyabeans lower

US soyabeans lower

US soyabean futures closed lower on Friday, weighed down by a firm dollar, lower crude oil, a low April soya crush number in Friday's NOPA crush report and plentiful global supply of soyabeans. CBOT May expired down 12-1/2 cents at $9.48 per bushel. July
Published 16 May, 2010 12:00am
Gold too hot for Indian buyers, but some investing

Gold too hot for Indian buyers, but some investing

Gold imports by India, the world's biggest market for the precious metal, could drop for a third straight year in 2010 as record high prices scare off traditional buyers. Traders expect to spot the first sign of this trend at next week's Hindu festival of
Published 16 May, 2010 12:00am
Asian rice demand recovers, but fails to fan prices flame

Asian rice demand recovers, but fails to fan prices flame

A recovery in demand from Africa and China has supported Asian rice prices over the past week but seems unlikely to push them up significantly in the coming months, exporters said on Wednesday. Traditional rice buyers in Africa, such as Nigeria, bought ar
Published 16 May, 2010 12:00am
Gold prices strike record high, oil slides

Gold prices strike record high, oil slides

Gold prices smashed their way to fresh record highs close to 1,250 dollars last week, with demand driven by investors seeking shelter from the eurozone debt crisis, analysts said. Oil prices tumbled however as a strengthening dollar made the raw material
Published 16 May, 2010 12:00am
Thai bond yields drop

Thai bond yields drop

Thai bond yields fell to a nine-month low on Friday as a flare up in violence prompted investors to rush to the relative safety of government debt.
Published 16 May, 2010 12:00am
Thai bond yields drop

Thai bond yields drop

Thai bond yields fell to a nine-month low on Friday as a flare up in violence prompted investors to rush to the relative safety of government debt.
Published 16 May, 2010 12:00am
US IPO market suffering from poor quality companies

US IPO market suffering from poor quality companies

While a rocky stock market is one reason for the US IPO market's recent struggles, equity underwriters and the quality of the companies they bring to market bear much of the responsibility. Overly ambitious valuations as well as a surfeit of private equit
Published 16 May, 2010 12:00am
Indian bond yields weaker

Indian bond yields weaker

Indian federal bond yields extended their fall for the fourth straight day, as concerns of aggressive policy action by the central bank eased amid the prevailing global uncertainty triggered by euro zone debt crisis. The yield on the 10-year benchmark bon
Published 16 May, 2010 12:00am
Indian bond yields weaker

Indian bond yields weaker

Indian federal bond yields extended their fall for the fourth straight day, as concerns of aggressive policy action by the central bank eased amid the prevailing global uncertainty triggered by euro zone debt crisis. The yield on the 10-year benchmark bon
Published 16 May, 2010 12:00am
Toronto main stocks index declines

Toronto main stocks index declines

Toronto's main stock index capped a roller-coaster week with a sharp drop on Friday as investors worried that heavy euro zone debt loads could derail global economic recovery. The worries pulled oil prices below $72 a barrel, spurring a 1.7 percent fall i
Published 16 May, 2010 12:00am
Mexican stocks sink

Mexican stocks sink

Mexico stocks fell sharply on Friday on worries the measures being taken to confront a euro zone debt crisis could spur a new recession in Europe and crimp a global economic recovery. The peso lost 1.21 percent to 12.59 per US dollar while the IPC stock i
Published 16 May, 2010 12:00am
South Korean bonds pause after decline

South Korean bonds pause after decline

South Korean government bond prices paused on Friday after a two-day sell-off, but overall sentiment was cautious on the lack of confidence about the market's longer-term direction. Separate data suggesting Asia's fourth-largest economy would sustain reco
Published 16 May, 2010 12:00am
South Korean bonds pause after decline

South Korean bonds pause after decline

South Korean government bond prices paused on Friday after a two-day sell-off, but overall sentiment was cautious on the lack of confidence about the market's longer-term direction. Separate data suggesting Asia's fourth-largest economy would sustain reco
Published 16 May, 2010 12:00am
Brazil shares fall

Brazil shares fall

Brazil's stock and currency markets slumped on Friday over concerns fiscal austerity in euro zone countries could hurt growth in the region and stifle a global economic recovery. The worries about fallout from Europe's debt problems increased risk aversio
Published 16 May, 2010 12:00am
US corporate bond spreads widen

US corporate bond spreads widen

US credit spreads widened on Friday on persistent concerns over the success of a co-ordinated euro zone effort to contain its sovereign debt crisis. Deutsche Bank Chief Executive Josef Ackermann raised the latest doubts on Greece's ability to repay its de
Published 16 May, 2010 12:00am
US corporate bond spreads widen

US corporate bond spreads widen

US credit spreads widened on Friday on persistent concerns over the success of a co-ordinated euro zone effort to contain its sovereign debt crisis. Deutsche Bank Chief Executive Josef Ackermann raised the latest doubts on Greece's ability to repay its de
Published 16 May, 2010 12:00am
China bond yields easier

China bond yields easier

Chinese bond yields mostly fell on Friday after the economic planning agency said consumer inflation would ease in the third quarter but bill yields rose after the finance ministry failed to sell out its 273-day bills.
Published 16 May, 2010 12:00am
China bond yields easier

China bond yields easier

Chinese bond yields mostly fell on Friday after the economic planning agency said consumer inflation would ease in the third quarter but bill yields rose after the finance ministry failed to sell out its 273-day bills.
Published 16 May, 2010 12:00am
Treasuries surge

Treasuries surge

US government bonds rallied on Friday as persistent worries over the euro zone's debt crisis led investors to ditch stocks for the safer harbour of Treasuries. The bond market shrugged off data showing a bigger-than-expected rise in April US retail sales,
Published 16 May, 2010 12:00am
Treasuries surge

Treasuries surge

US government bonds rallied on Friday as persistent worries over the euro zone's debt crisis led investors to ditch stocks for the safer harbour of Treasuries. The bond market shrugged off data showing a bigger-than-expected rise in April US retail sales,
Published 16 May, 2010 12:00am
Wall Street slips as retailers, financials weigh

Wall Street slips as retailers, financials weigh

US stocks fell on Friday on a combination of weak earnings from retailers, Senate backing for limits on credit card fees and concerns over the sustainability of European public debt. Bank and credit card companies' shares slumped a day after the Senate vo
Published 16 May, 2010 12:00am
Key three-month euribor rates hit four-month high

Key three-month euribor rates hit four-month high

Benchmark three-month Euribor bank-to-bank lending rates rose to a four-month high on Friday, as financial markets remain stressed despite a $1 trillion aid package aimed at resolving the region's debt crisis.
Published 16 May, 2010 12:00am
'Euro around equilibrium level'

'Euro around equilibrium level'

The current exchange rate of the euro is around the right equilibrium level and the recent fall in the single currency is helping Italy's exports, the chief economist of Italian employers' association Confindustria said.
Published 16 May, 2010 12:00am
East African currencies falling against dollar

East African currencies falling against dollar

The Kenya, Tanzanian and Ugandan currencies were all seen weakening against the dollar in the coming week as they came under pressure from corporate sector demand for greenback and the volatile performance of the euro.
Published 16 May, 2010 12:00am
Forex outlook: Euro to slide further next week

Forex outlook: Euro to slide further next week

The euro is bound to slide further against most major currencies next week as a $1 trillion euro zone rescue effort is met with scepticism. After climbing close to $1.31 on Monday after the emergency package was unveiled, the single currency resumed decli
Published 16 May, 2010 12:00am
Euro sinks to 18-month low on growth threat fears

Euro sinks to 18-month low on growth threat fears

The euro plunged to an 18-month low against the dollar on Friday as investors worried that harsh spending cuts mandated by a bailout plan may choke off a fragile recovery in the 16-country eurozone. The euro traded below $1.24 for the first time since lat
Published 16 May, 2010 12:00am
Mexican peso sinks

Mexican peso sinks

Mexico's peso sank on Friday and stocks fell sharply on worries the measures being taken to confront a euro zone debt crisis could spur a new recession in Europe and crimp a global economic recovery. The peso lost 1.21 percent to 12.59 per US dollar while
Published 16 May, 2010 12:00am
Net euro, sterling short bets hit fresh record

Net euro, sterling short bets hit fresh record

Currency speculators slightly pared bets in favour of the US dollar, data from the Commodity Futures Trading Commission showed on Friday. The value of the dollar's net long position totalled about $22.06 billion in the week ended May 11, compared with a n
Published 16 May, 2010 12:00am
Taiwan dollar up

Taiwan dollar up

The Taiwan dollar edged up on Friday, outperforming most regional peers on buying by the island's exporters, with investors wary of more intervention by the island's central bank. At noon the local currency was traded at T$31.648, up T$0.13 or 0.4 percent
Published 16 May, 2010 12:00am
Swaps with foreign central banks total $9.2 bl : New York Fed

Swaps with foreign central banks total $9.2 bl : New York Fed

The Federal Reserve provided $9.205 billion of liquidity to foreign central banks since reopening foreign exchange swap lines this week, the New York Fed said on Thursday. The European Central Bank was the sole institution to tap the swap lines this week,
Published 16 May, 2010 12:00am
Canadian dollar slips

Canadian dollar slips

Canada's dollar fell to its lowest level of the week against the US dollar on Friday as festering worries that euro zone austerity measures could hamper economic recovery spoiled appetite for riskier assets.
Published 16 May, 2010 12:00am
India face South Korea in Sultan Azlan Shah Cup final

India face South Korea in Sultan Azlan Shah Cup final

India will defend the Sultan Azlan Shah Cup against Asian champions South Korea in the Sunday final after world champions Australia narrowly missed the cut. The Indians qualified when they topped the group with 13 points after thrashing Egypt 7-1 in Ipoh,
Published 16 May, 2010 12:00am
Ashley wins sixth winners' medal

Ashley wins sixth winners' medal

Chelsea defender Ashley Cole became the first player to collect six FA Cup winners' medals when Chelsea beat Portsmouth 1-0 at Wembley Stadium on Saturday. Cole won his first winners' medal playing for Arsenal against Chelsea in 2002 and won further medal
Published 16 May, 2010 12:00am
Chelsea win dramatic: FA Cup final

Chelsea win dramatic: FA Cup final

Chelsea overcame a resilient Portsmouth to win a dramatic FA Cup final 1-0 at Wembley Stadium on Saturday and achieve their first League and Cup Double. Didier Drogba got the winner with a 59th minute free-kick after they hit the woodwork five times in th
Published 16 May, 2010 12:00am
Modi replies to graft charges

Modi replies to graft charges

Suspended Indian Premier League boss Lalit Modi kept the Saturday deadline to respond to charges of corruption and indiscipline levelled by the country's cricket board. Modi himself stayed away from the spotlight as he sent his lawyer Mehmood Abdi to subm
Published 16 May, 2010 12:00am
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