Handsets made in China ruling the local market
By Muhammad Yasir
KARACHI: The China-made handsets have proved to be a nightmare for the business of other famous brands with their ‘china price’, advance technology and multiple features.
The sales of the Chinese mobile sets have been increasing constantly with its growing popularity... 
|
Pak exporters attending annual fruit congress in Dubai
By Tanveer Sher
KARACHI: A delegation of leading Pakistani fruit exporters have gone to Dubai to attend the 3-day annual Fruit and Vegetable Congress scheduled to take off from Monday (November 9) with a view to explore and tap the vast international market for Pakistani fruits.
The...
|
Housing shortfall in Pakistan reaching alarming levels
KARACHI: The country, at present, is facing a shortfall of more than 6 million housing units while loan disbursement from House Building Finance Corporation for the last one-year has almost ceased and lower- and middle-income group has totally been ignored.
The government, banks and DFIs should...
|
FBR not to refer to taxpayers as ‘risky’ in e-profiles
Staff Report
KARACHI: The Federal Board of Revenue will change the term ‘inactive or active, but risky’ in the ‘risky list’ of its e-profile used for taxpayers on its website till December 31, 2009.
Member Domestic Operations (South), Federal Board of Revenue Muhammad Ramzan Bhatti...
|
Two weekly holidays: Traders to approach president, PM
* ‘Working for 5 days a week will escalate financial burden’
By Moonis Ahmed
KARACHI: Businessmen have decided to approach President Asif Ali Zardari and Prime Minister Yousuf Raza Gilani in protest against the government's decision of two weekly holidays, an industry official...
|
Premature for Asian cbanks to tighten policy
NEW DELHI: It is premature for Asian central banks to begin exiting from their extraordinarily loose monetary policies given the fragility of economic recovery, a top official with the Asian Development Bank said on Monday.
Rajat Nag, managing director general of the ADB, also said the US dollar...
|
Five-year conservation plan aims to save 8-10 MAF water
By Ijaz Kakakhel
ISLAMABAD: A five years water conservation plan is under preparation, which will help the government to conserve 8-10 Million Acres Feet (MAF) water for agriculture purposes, official sources told Daily Times here on Monday.
Main focus of the policy on large-scale...
|
JP Morgan sees overseas firms listing in China
BEIJING: The first red-chip and foreign companies could list shares on the Shanghai stock exchange next year, Jing Ulrich, chairman of China equities at JP Morgan, said on Monday.
Red chips are Chinese companies that have their business on the mainland but are incorporated outside China and...
|
Indian shares up 2.11%, led by firm global trends
MUMBAI: Indian shares rose 2.11 percent on Monday led by firm global trends and hopes of further economic reform, dealers said. The benchmark 30-share Sensex index rose 340.44 points to 16,498.72.
Buying sentiment resumed on positive signals over the weekend, when global central bank officials...
|
Banks, commodities push European shares to 2-wk high
* FTSEurofirst 300 index up 1.6 percent; Allianz jumps 5.7 percent as earnings beat forecasts
LONDON: Buoyant commodity and financial shares helped European stocks to hit a two-week high on Monday, supported by stronger crude and metals prices and after the Group of 20 pledged to keep...
|
Kraft Foods launches hostile bid for Cadbury
LONDON: US giant Kraft Foods on Monday launched a hostile 9.8-billion-pound takeover bid for Cadbury which the British confectioner rejected as ‘derisory.’
The cash and stocks offer matches the terms of Kraft’s original bid in September. However changes to currency and stock market values since...
|
US stocks rise along with risk appetite
NEW YORK: The US stocks added to gains in early trade on Monday, with the Nasdaq and S&P 500 rising one percent, after a pledge from the Group of 20 to keep economic stimulus in place bolstered risk appetite.
Gains were broad-based, with natural resource-oriented companies and technology shares...
|
Dollar slides after G20 meet
NEW YORK: The dollar fell broadly on Monday, pushing the euro above $1.50, after a weekend G20 meeting and US jobs data last week did little to change the outlook that US interest rates will stay low for some time.
In early New York trade, the dollar index was down 0.9 percent at 75.117. Earlier...
|
Inmarsat Q3 EBITDA up 18.4%; shares higher
LONDON: British satellite communications firm Inmarsat posted a better-than-expected 18.4 percent rise in third-quarter earnings on Monday, and said it was on track for the year, sending its shares to a four-year high.
The company, whose satellites provide phone and broadband services to ships,...
|
FTSE gains 1.4 percent as miners rally
* Energy firms draw strength from commodities rally
LONDON: A rally in miners and oil stocks lifted Britain’s top shares 1.4 percent on Monday, buoyed by rising commodity prices as risk appetite heightened on the back of the G20’s pledge to keep stimulus in place.
At 1201 GMT,...
|
Asian markets higher after Wall Street shrugs off jobs data
* Investors also waiting to see how Wall Street will react to earnings reports from US retailers
HONG KONG: Asian markets rose Monday after slim gains on Wall Street at the end of last week, with G20 finance ministers agreeing at the weekend to keep stimulus measures in place despite signs...
|
Gold hits record above $1,110/oz as dollar slides
LONDON: Gold hit a record high above $1,110 an ounce in Europe on Monday as the dollar index slid one percent on expectations US interest rates will remain low, boosting interest in the metal as an alternative asset.
Spot gold reached a peak of $1,110.85 an ounce, and was bid at $1,109.50 an...
|
Hong Kong gold closes at new record high
HONG KONG: Hong Kong gold prices closed at a record high on Monday at $1,107.50-$1,108.50 an ounce, after the precious metal climbed above $1,100 for the first time in London Friday. It opened at $1,096.50-$1,097.50 an ounce in Hong Kong Monday. Prices were boosted by a weaker dollar and the prospect...
|
Oil above $79 on hurricane, dollar
* Saudi Arabia lifts December oil supply to global oil firms
LONDON: Oil rose well over a dollar to more than $79 a barrel on Monday after Hurricane Ida forced the shut in of US oil and gas production and Group of 20 talks sent equities up and the dollar down.
US crude for December...
|
China raises gasoline, diesel prices by 7 percent
BEIJING: China will lift gasoline and diesel prices by around seven percent from Tuesday to reflect the rising cost of crude oil, taking pump prices to their highest ever, China’s top planning body, the National Development and Reform Commission, said on Monday. The rise in prices was widely expected...
|
‘Made in China’ now made in Egypt
PORT SAID: With cheap labour, investment incentives and unrestricted exports, one Chinese textile group has turned to Egypt as an ideal location to produce its ready-made garments, beating stiff competition at home. The Chinese-owned Nile Textile Group has set up shop in the Port Said free zone, overlooking...
|
Asian nations bear the brunt of greenback slump
* Beijing for its part re-pegged yuan to dollar in July 2008 as global financial crisis hit its exports
TOKYO: Asia’s small, open economies are caught in the crossfire of a tussle between the United States and China over whether the yuan should strengthen against the dollar to fix the...
|
Britain ‘still wants debate on transaction tax’
LONDON: British Prime Minister Gordon Brown wants a debate on key banking reform options including a tax on financial transactions despite a cool reaction at weekend G20 talks, his spokesman said on Monday.
“His view continues to be that these are four interesting options and they should be explored...
|
Nokia recalls millions of faulty chargers
HELSINKI: Nokia, the world’s biggest mobile phone maker, issued on Monday a global recall for 14 million faulty chargers made by a subcontractor this year. The recall concerned “approximately 14 million (chargers) globally,” Nokia spokesperson James Etheridge told AFP. Nokia said the chargers could...
|
‘HK forex reserves at $240.1 billion at end-October’
HONG KONG: Hong Kong’s official foreign currency reserve assets stood at $240.1 billion at the end of October, the Hong Kong Monetary Authority said on Monday, up 5.8 percent from $226.9 billion at the end of September. Hong Kong, whose currency is linked to the US dollar, ranks as the world’s seventh-largest...
|
BD exports down 28% yr/yr on recession
DHAKA: Bangladesh’s exports fell 28.3 percent from a year earlier to $1.06 billion in September, data showed on Monday, reflecting subdued demand from recession-hit markets such as the United States and Europe. Data from the Export Promotion Bureau showed export earnings in the first quarter of the...
|
China praises US trade panel for rejecting probe
BEIJING: China on Monday praised a US trade panel’s decision to reject an investigation into imports of Chinese steel fasteners, saying it was the ‘correct judgment’. China’s commendation contrasted with the flare-up in trade tension last week when the United States imposed new anti-dumping duties on...
|
‘Dubai will pay debts and go ahead with projects’
* Sheikh Mohammed expresses confidence that second part of Dubai's bond programme will be ‘highly received by subscribers’
DUBAI: Dubai will pay its massive debts and will go ahead with its ambitious development projects, the emirate’s ruler Sheikh Mohammed bin Rashid al-Maktoum told an...
|
Kuwait’s income surpasses full year target
KUWAIT CITY: Kuwait’s income in the first half of the fiscal year hit $28.7 billion, surpassing the budgeted full-year target thanks to a better-than-expected oil price, the finance ministry said Monday. Earnings in the six months to September 30 are 12 percent above projected income for the 2009-2010...
|
RSS
| Archives
| Company Financials
| Contact Us
| Saturday, November 21, 2009
