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Print - 2010-08-27
DAG Agha Tariq removed

DAG Agha Tariq removed

Ministry of Law and Justice on Thursday removed Deputy Attorney General Agha Tariq Mehmood from his office. When contacted, the Attorney General office confirmed the issuance of notification of Tariq's removal. Sources in the ministry said that the minist
Published 27 Aug, 2010 12:00am
DAG Agha Tariq removed

DAG Agha Tariq removed

Ministry of Law and Justice on Thursday removed Deputy Attorney General Agha Tariq Mehmood from his office. When contacted, the Attorney General office confirmed the issuance of notification of Tariq's removal. Sources in the ministry said that the minist
Published 27 Aug, 2010 12:00am
ISE index loses 4.05 points

ISE index loses 4.05 points

Mixed trend was witnessed at the Islamabad Stock Exchange (ISE) where equities showed normal business under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 4.05 points as the Index moved from 2,444.16 to 2,440.11 points. The ov
Published 27 Aug, 2010 12:00am
ISE index loses 4.05 points

ISE index loses 4.05 points

Mixed trend was witnessed at the Islamabad Stock Exchange (ISE) where equities showed normal business under the lead of hot favourite amid decrease in index. ISE Ten Index was down by 4.05 points as the Index moved from 2,444.16 to 2,440.11 points. The ov
Published 27 Aug, 2010 12:00am
Mixed sentiments prevail on LSE

Mixed sentiments prevail on LSE

Mixed sentiments prevailed on the Lahore Stock Exchange (LSE) on Thursday where equities moved both ways and finally settled in positive zone amid ascending transaction volume on account of fresh buying in selective scrips.
Published 27 Aug, 2010 12:00am
Mixed sentiments prevail on LSE

Mixed sentiments prevail on LSE

Mixed sentiments prevailed on the Lahore Stock Exchange (LSE) on Thursday where equities moved both ways and finally settled in positive zone amid ascending transaction volume on account of fresh buying in selective scrips.
Published 27 Aug, 2010 12:00am
Japan's Democrat panel wants BoJ to go step further

Japan's Democrat panel wants BoJ to go step further

A Japanese ruling party panel discussed currency intervention and recommended on Thursday that the government ask the Bank of Japan to take monetary policy a step further to counter a rising yen, increasing pressure on the central bank to act before its r
Published 27 Aug, 2010 12:00am
Wealth divide adding to instability: Manmohan

Wealth divide adding to instability: Manmohan

Indian Prime Minister Manmohan Singh on Thursday said that the country's widening divide between rich and poor was a factor that encouraged crime and caused difficulties for police. Singh told a conference of police chiefs in New Delhi that national secur
Published 27 Aug, 2010 12:00am
US man held in Times Square probe out of jail

US man held in Times Square probe out of jail

Federal officials say a Pakistani man from Maine has been released from jail 15 weeks after he was arrested on an immigration violation while police were investigating the attempted Times Square car bombing. Ross Feinstein of US Immigration and Customs En
Published 27 Aug, 2010 12:00am
Automakers to launch new models, spend more in India

Automakers to launch new models, spend more in India

Global automakers in India are planning to launch new models and boost investment in the country, executives said at a conference, signalling brisk demand in one of the fastest growing car markets in the world. French car maker Renault's Indian unit will
Published 27 Aug, 2010 12:00am
Credit rating ''not immediately affected'': S&P

Credit rating ''not immediately affected'': S&P

Standard & Poor''s said Thursday that flood-hit Pakistan''s sovereign credit rating would not be immediately impacted, expressing confidence the IMF would ease loan financing terms to the nation. "Financial support from the international community should
Published 27 Aug, 2010 12:00am
Credit rating 'not immediately affected': S&P

Credit rating 'not immediately affected': S&P

Standard & Poor's said Thursday that flood-hit Pakistan's sovereign credit rating would not be immediately impacted, expressing confidence the IMF would ease loan financing terms to the nation. "Financial support from the international community should en
Published 27 Aug, 2010 12:00am
Credit rating 'not immediately affected': S&P

Credit rating 'not immediately affected': S&P

Standard & Poor's said Thursday that flood-hit Pakistan's sovereign credit rating would not be immediately impacted, expressing confidence the IMF would ease loan financing terms to the nation. "Financial support from the international community should en
Published 27 Aug, 2010 12:00am
Distributing relief goods: Kayani meets businessmen

Distributing relief goods: Kayani meets businessmen

Chief of the Army Staff General Ashfaq Pervez Kayani has offered Pak army''s services in distributing relief goods, collected by the business community, to help the flood affected people of the country. He made this offer in a meeting with the representat
Published 27 Aug, 2010 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Thursday (August 26, 2010).

Published 27 Aug, 2010 12:00am
Distributing relief goods: Kayani meets businessmen

Distributing relief goods: Kayani meets businessmen

Chief of the Army Staff General Ashfaq Pervez Kayani has offered Pak army's services in distributing relief goods, collected by the business community, to help the flood affected people of the country. He made this offer in a meeting with the representati
Published 27 Aug, 2010 12:00am
Distributing relief goods: Kayani meets businessmen

Distributing relief goods: Kayani meets businessmen

Chief of the Army Staff General Ashfaq Pervez Kayani has offered Pak army's services in distributing relief goods, collected by the business community, to help the flood affected people of the country. He made this offer in a meeting with the representati
Published 27 Aug, 2010 12:00am
Militants plan to attack foreign aid workers: US

Militants plan to attack foreign aid workers: US

The Pakistani Taliban is planning attacks on foreigners offering assistance in the aftermath of devastating floods in Pakistan, a US official warned Wednesday. "According to information available to the US government, Tehreek-e-Taliban plans to conduct at
Published 27 Aug, 2010 12:00am
Spot dollar rates

Spot dollar rates

Spot Dollar rates from Khadim Ali Shah Bukhari & Co Ltd on Thursday (August 26, 2010).

Published 27 Aug, 2010 12:00am
Militants plan to attack foreign aid workers: US

Militants plan to attack foreign aid workers: US

The Pakistani Taliban is planning attacks on foreigners offering assistance in the aftermath of devastating floods in Pakistan, a US official warned Wednesday. "According to information available to the US government, Tehreek-e-Taliban plans to conduct at
Published 27 Aug, 2010 12:00am
Money Market Report

Money Market Report

Money market report by Khadim Ali Shah Bukhari & Co on Thursday (August 26, 2010).
Published 27 Aug, 2010 12:00am
Pakistan wants to stay with programme

Pakistan wants to stay with programme

Pakistan wants to stay on track with its International Monetary Fund loan programme and demonstrate its resolve to make tough economic decisions, Finance Minister Abdul Hafeez Shaikh said on Thursday. "We want to remain on track with the IMF programme bec
Published 27 Aug, 2010 12:00am
Pakistan wants to stay with programme

Pakistan wants to stay with programme

Pakistan wants to stay on track with its International Monetary Fund loan programme and demonstrate its resolve to make tough economic decisions, Finance Minister Abdul Hafeez Shaikh said on Thursday. "We want to remain on track with the IMF programme bec
Published 27 Aug, 2010 12:00am
Bill buying rates per unit of currency

Bill buying rates per unit of currency

Bill Buying Rates per unit of currency -- issued by the Treasury Management Division of the National Bank of Pakistan on Thursday (August 26, 2010).

Published 27 Aug, 2010 12:00am
Pakistan wants to stay with programme

Pakistan wants to stay with programme

Pakistan wants to stay on track with its International Monetary Fund loan programme and demonstrate its resolve to make tough economic decisions, Finance Minister Abdul Hafeez Shaikh said on Thursday. "We want to remain on track with the IMF programme bec
Published 27 Aug, 2010 12:00am
IMF exploring ''all options''

IMF exploring ''all options''

The IMF said Thursday it was exploring all avenues to help flood-battered Pakistan amid extensive talks over possible easing of terms of a current 11-billion-dollar loan facility. "We''re looking at all options in terms of how we can assist Pakistan in th
Published 27 Aug, 2010 12:00am
IMF exploring 'all options'

IMF exploring 'all options'

The IMF said Thursday it was exploring all avenues to help flood-battered Pakistan amid extensive talks over possible easing of terms of a current 11-billion-dollar loan facility. "We're looking at all options in terms of how we can assist Pakistan in the
Published 27 Aug, 2010 12:00am
IMF exploring 'all options'

IMF exploring 'all options'

The IMF said Thursday it was exploring all avenues to help flood-battered Pakistan amid extensive talks over possible easing of terms of a current 11-billion-dollar loan facility. "We're looking at all options in terms of how we can assist Pakistan in the
Published 27 Aug, 2010 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Thursday (August 26, 2010).

Published 27 Aug, 2010 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Thursday (August 26, 2010).

Published 27 Aug, 2010 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Thursday (August 26, 2010).

Published 27 Aug, 2010 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 Comm
Published 27 Aug, 2010 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 27 Aug, 2010 12:00am
New York cotton

New York cotton

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

Published 27 Aug, 2010 12:00am
BRIndex30 up by 23.79 points

BRIndex30 up by 23.79 points

On Thursday, BRIndex30 opened at 7,388.79 and remained positive for most of the trading session except for one short dive into the red within an hour of market opening. It touched an intraday high of 7,476.11 and an intraday low of 7,370.18 and closed at
Published 27 Aug, 2010 12:00am
New York cotton

New York cotton

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

Published 27 Aug, 2010 12:00am
BRIndex30 up by 23.79 points

BRIndex30 up by 23.79 points

On Thursday, BRIndex30 opened at 7,388.79 and remained positive for most of the trading session except for one short dive into the red within an hour of market opening. It touched an intraday high of 7,476.11 and an intraday low of 7,370.18 and closed at
Published 27 Aug, 2010 12:00am
Index recovers 30.56 points

Index recovers 30.56 points

The KSE-100 index on Thursday recovered 30.56 points and closed at the level of 9,584.37 points on the back of foreign investors and institutional support. After opening in positive territory, the index dropped into negative zone to hit 9,544.49 points in
Published 27 Aug, 2010 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 84,530 tonnes of cargo including 51,127 tonnes of import cargo, 33,403 tonnes of export cargo, 2,828 loaded and empty containers during last 24 hours ended at 0700 hours on Thursday. The total import cargo of 51,127 tonnes compris
Published 27 Aug, 2010 12:00am
Index recovers 30.56 points

Index recovers 30.56 points

The KSE-100 index on Thursday recovered 30.56 points and closed at the level of 9,584.37 points on the back of foreign investors and institutional support. After opening in positive territory, the index dropped into negative zone to hit 9,544.49 points in
Published 27 Aug, 2010 12:00am
US Midwest soya bids fall, corn weak

US Midwest soya bids fall, corn weak

Soyabean spot basis bids fell sharply at US Midwest river terminals and rose sharply at processors around the region on Wednesday while bids for corn were weak along the river and mostly steady interior, grain merchants said. Farmer sales were nearly non-
Published 27 Aug, 2010 12:00am
Index recovers 30.56 points

Index recovers 30.56 points

The KSE-100 index on Thursday recovered 30.56 points and closed at the level of 9,584.37 points on the back of foreign investors and institutional support. After opening in positive territory, the index dropped into negative zone to hit 9,544.49 points in
Published 27 Aug, 2010 12:00am
Grams rates rise in low activity on grain market

Grams rates rise in low activity on grain market

Marginal business was seen on the wholesale grain and seed market on Thursday as most of the buyers kept on the sidelines due to higher rates, dealers said. On the cereal side grams Australia was quoted at Rs 5000-5200, grams 50x50 was higher by Rs 100 to
Published 27 Aug, 2010 12:00am
Ogra seeks change in gas pricing mechanism

Ogra seeks change in gas pricing mechanism

Oil and Gas Regulatory Authority (Ogra) has proposed to the Ministry of Petroleum and Natural Resources to amend existing gas price mechanism by linking rates with Gas Calorific Value (GCV), sources in Ogra revealed exclusively to Business Recorder
Published 27 Aug, 2010 12:00am
Russia may import six million tonnes of grain

Russia may import six million tonnes of grain

Russia, the world's former No 3 wheat exporter, may need to import up to six million tonnes of grain in the current 2010/11 crop year to compensate for a severe drought, a leading Russian analyst said on Thursday. "Maybe we will not import all of this, bu
Published 27 Aug, 2010 12:00am
Ogra seeks change in gas pricing mechanism

Ogra seeks change in gas pricing mechanism

Oil and Gas Regulatory Authority (Ogra) has proposed to the Ministry of Petroleum and Natural Resources to amend existing gas price mechanism by linking rates with Gas Calorific Value (GCV), sources in Ogra revealed exclusively to Business Recorder
Published 27 Aug, 2010 12:00am
US wheat futures fall to one-week low

US wheat futures fall to one-week low

US wheat futures fell 4 percent to their lowest level in a week on Wednesday on a wave of technical selling after Egypt bypassed US supplies in its latest purchase, traders said. "I think its a technical blow-off," said Mike Krueger, president of The Mone
Published 27 Aug, 2010 12:00am
Ogra seeks change in gas pricing mechanism

Ogra seeks change in gas pricing mechanism

Oil and Gas Regulatory Authority (Ogra) has proposed to the Ministry of Petroleum and Natural Resources to amend existing gas price mechanism by linking rates with Gas Calorific Value (GCV), sources in Ogra revealed exclusively to Business Recorder
Published 27 Aug, 2010 12:00am
Oil cake market rates

Oil cake market rates

Sharp rise was seen on the forward cottonseed oilcake market on Thursday in the process of trading, dealers said. The July contract that had ended at Rs 1000.30 opened with a gain of 20 paisa at Rs 1000.50, dealers said. The December vaida which closed at
Published 27 Aug, 2010 12:00am
Hard for government to go for power tariff hike

Hard for government to go for power tariff hike

The government is finding it extremely difficult to consider any increase in power tariff despite immense pressure to eliminate subsidy and reduce the existing 33 percent gap between power production cost and tariff, sources in the Finance Ministry said.
Published 27 Aug, 2010 12:00am
Hard for government to go for power tariff hike

Hard for government to go for power tariff hike

The government is finding it extremely difficult to consider any increase in power tariff despite immense pressure to eliminate subsidy and reduce the existing 33 percent gap between power production cost and tariff, sources in the Finance Ministry said.
Published 27 Aug, 2010 12:00am
Cotton market remains steady

Cotton market remains steady

Barring a short-lived spike early this week which later petered out, cotton prices have more or less remained steady over the past one week or so. Some volatility creeps in and the market becomes fidgety due to uncertainty bred by rains and floods of garg
Published 27 Aug, 2010 12:00am
Hard for government to go for power tariff hike

Hard for government to go for power tariff hike

The government is finding it extremely difficult to consider any increase in power tariff despite immense pressure to eliminate subsidy and reduce the existing 33 percent gap between power production cost and tariff, sources in the Finance Ministry said.
Published 27 Aug, 2010 12:00am
Cotton market remains steady

Cotton market remains steady

Barring a short-lived spike early this week which later petered out, cotton prices have more or less remained steady over the past one week or so. Some volatility creeps in and the market becomes fidgety due to uncertainty bred by rains and floods of garg
Published 27 Aug, 2010 12:00am
Nine Discos: Nepra slashes tariff for consumers

Nine Discos: Nepra slashes tariff for consumers

The National Electric Power Regulatory Authority (Nepra) has slashed electricity tariff for consumers of nine power Distribution Companies (Discos) by 38 paisa per unit on account of fuel surcharge adjustment. However, this impact will not be passed on to
Published 27 Aug, 2010 12:00am
Toyota recalls more than one million Corolla and Matrix models

Toyota recalls more than one million Corolla and Matrix models

Japanese carmaker Toyota on Thursday ordered a recall of more than 1 million Corolla and Matrix models in North America, adding to safety woes that have plagued the world's largest carmaker for the past year. Toyota in a statement said it was recalling 1.
Published 27 Aug, 2010 12:00am
Nine Discos: Nepra slashes tariff for consumers

Nine Discos: Nepra slashes tariff for consumers

The National Electric Power Regulatory Authority (Nepra) has slashed electricity tariff for consumers of nine power Distribution Companies (Discos) by 38 paisa per unit on account of fuel surcharge adjustment. However, this impact will not be passed on to
Published 27 Aug, 2010 12:00am
Australia business investment slips, outlook upbeat

Australia business investment slips, outlook upbeat

Australian business investment unexpectedly fell last quarter as weakness in consumer-exposed sectors overshadowed strength in mining and manufacturing, suggesting the economy was not quite as hot as hoped. Yet Thursday's data also showed firms had marked
Published 27 Aug, 2010 12:00am
Nine Discos: Nepra slashes tariff for consumers

Nine Discos: Nepra slashes tariff for consumers

The National Electric Power Regulatory Authority (Nepra) has slashed electricity tariff for consumers of nine power Distribution Companies (Discos) by 38 paisa per unit on account of fuel surcharge adjustment. However, this impact will not be passed on to
Published 27 Aug, 2010 12:00am
Philippines posts fastest half-year growth in over 20 years

Philippines posts fastest half-year growth in over 20 years

The Philippines said Thursday it recorded its best half-year economic growth for more than 20 years as investor confidence improved following smooth national elections. The economy expanded by a surprisingly strong 7.9 percent in the first half of 2010, t
Published 27 Aug, 2010 12:00am
Christians face aid discrimination: Vatican agency

Christians face aid discrimination: Vatican agency

Christians affected by the devastating floods in Pakistan face "systematic discrimination" in the distribution of aid, the news agency of a Vatican missionary body reported Thursday. The Fides news agency, a branch of the Vatican's Congregation for the Ev
Published 27 Aug, 2010 12:00am
Japan develops 'touchable' 3D TV technology

Japan develops 'touchable' 3D TV technology

A Japanese research team said Thursday it had developed the world's first 3D television system that allows users to touch, pinch or poke images floating in front of them. "It is the first time that you can feel images in the air," said Norio Nakamura, sen
Published 27 Aug, 2010 12:00am
Christians face aid discrimination: Vatican agency

Christians face aid discrimination: Vatican agency

Christians affected by the devastating floods in Pakistan face "systematic discrimination" in the distribution of aid, the news agency of a Vatican missionary body reported Thursday. The Fides news agency, a branch of the Vatican's Congregation for the Ev
Published 27 Aug, 2010 12:00am