Export target 2009-10: Trade figures show $20 billion difficult to achieve
By Sajid Chaudhry
ISLAMABAD: Exports target of $20 billion seems difficult to achieve in the ongoing fiscal year 2009-10 as the total exports of the country have managed to reach $12.397 billion in first eight months of current fiscal year.
The country would require to export $7.603... 
|
KSE sees increase in foreign portfolio investment
KARACHI: Foreign portfolio investment flooded the capital market in the first ten days of current month when it received $44 million worth of investment. The flurry of the buying activity by the foreigners has been going on for the last few days and signals the return of foreign buying in the local...
|
Car sales increase 32 percent in 8-month FY 2009-10
By Moonis Ahmed
KARACHI: The consumers’ confidence in the prospects of improving economy has reflected in terms of car sales increase which has surged by 32 percent to 75,275 units in eight months of current fiscal year 8MFY2009-10, as compared to 54,660 in the same period of the last...
|
Remittances decline by 8.19 percent in February
KARACHI: The remittances sent by overseas Pakistani declined by 8.19 percent or $52.44 million in February 2010, as the central bank has received an amount of $588.78 million, compared with $641.32 million in February 2009.
However, the remittances sent home by overseas Pakistanis continued to...
|
‘Rice import to Malaysia to quadruple this year’
ISLAMABAD: Import of Pakistani rice to Malaysia is expected to increase four-fold this year, said Wijiuallah Kundi, Commercial Counselor for Pakistan High Commission in Kuala Lumpur.
According to a Malaysian website he said, Malaysian Padiberas Nasional Bhd (Bernas) and its group of companies...
|
Govt likely to allocate Rs 560bn for PSDP 2010-11
ISLAMABAD: The government is likely to allocate Rs 560 billion for the Public Sector Development Programme for the year 2010-11, while last year it was Rs 621 billion, showing a decrease of around 10 percent, sources told Daily Times on Wednesday.
Among the total PSDP (Rs 560 billion) for the...
|
Competition Ordinance to lapse on 26th: CCP asks MoF to mull process of Competition Ord
By Sajid Chaudhry
ISLAMABAD: The Competition Commission of Pakistan (CCP) on Wednesday formally approached the Ministry of Finance (MoF) for initiating process for re-promulgation of Competition Ordinance (CO) that is going to lapse on March 26, 2010.
In a letter to the Ministry...
|
‘CCP role significant in protecting consumer rights’
ISLAMABAD: The role of Competition Commission of Pakistan (CCP) is highly significant to protect the rights of the consumer. The central president of Pakistan Computer Association (PCA), Munawar Iqbal said CCP’s role was to create a system of check and balance, especially to discourage unhealthy trend...
|
Saving leather sector from collapse: PTA asks FBR to continue with exemption of ST
By Razi Syed
KARACHI: Pakistan Tanners Association (PTA) asked the Federal Board of Revenue (FBR) to continue the present exemption of Sales Tax and proposed VAT should be continued to save the 5 exporting sectors and the leather industry in particular, which is facing continued decline...
|
FBR is mapping out strategy to streamline ATT
LAHORE: Under Invoicing and Afghan Transit Trade (ATT) are hitting the economy hard and the Federal Board of Revenue is mapping out an effective and foolproof strategy to tackle these issues once and for all, said Member (Customs) FBR, Munir Ahmad Qureshi. Speaking to executive body members of the Lahore...
|
SPI increases by 0.40 percent for combined group: FBS
Staff Report
ISLAMABAD: Data released by the Federal Bureau of Statistics (FBS), here on Wednesday showed that the weekly inflation monitor Sensitive Price Indicator (SPI) has increased by 0.40 percent for the combined group during the week ending on March 4, 2010. Whereas, it has registered...
|
NBP’s PAT rises, bonus shares for employees
KARACHI: National Bank of Pakistan (NBP) once again attained the top position in the financial sector with the highest profit after tax (PAT) of Rs 18 billion. The management in appreciation of this performance has announced an additional profit bonus to all its employees, consisting of two basic salaries...
|
Agritech ready to make IPO at KSE
KARACHI: Agritech Limited (Agritech), formerly known as Pak-American Fertilizer Limited is all set for listing at the Karachi Stock Exchange (KSE), with Initial Public Offering (IPO) from March 11-13, 2010.
The Company has already raised Rs 1.87 billion through Pre-IPO placement to institutional...
|
Activity at cotton market stays steady
Staff Report
KARACHI: Trading remained moderate amid firm spot rate and strong physical price at Karachi Cotton Association (KCA), dealers said on Wednesday.
Future contracts also took place for crop season 2010-11 at around Rs 5,500 per maund for August delivery, they added.
“Most...
|
Sugar prices decline in wholesale and retail markets
By Tanveer Sher
KARACHI: Sugar prices continue declining in the wholesale and retail markets of Karachi in the wake of sharp decline in the rates of the commodity in the international markets during the last fortnight spelling some financial relief to consumers
The commodity was...
|
TCP awards 3rd contract for sugar supply
KARACHI: Trading Corporation of Pakistan (TCP) has awarded the 3rd contract for supply of 50,000 metric tonnes of white sugar to M/s Sadan Trading Group of Dubai at $649 per tonne C&F. A TCP official said on Wednesday, that eight bidders had quoted prices in response to the international sugar tender...
|
Pak, Cyprus to extend economic relations
ISLAMABAD: The representative of Cyprus to Pakistan, Hasibe Sahoglu held a meeting with Senator Waqar Ahmed Khan Federal Minister for Privatisation on Wednesday. Senator Waqar Ahmed Khan Federal Minister for Privatisation stressed the need to further improve the existing relations between the two friendly...
|
ZTBL’s measures to protect environment
ISLAMABAD: The Zarai Taraqiati Bank Limited is the premier financial institution geared towards the development of agriculture sector through provision of financial services and technical know-how to its rural clients. To capitalise the great business opportunity in trading carbon credits and solution...
|
PPDA and EC Gateway sign MoU
KARACHI: Pakistan Petroleum Dealers Association (PPDA) and Ecommerce Gateway Pakistan (Pvt) Limited have signed a Memorandum of Understanding (MoU) to collaborate for the Oil and Gas Asia International Exhibition and Conference for the next 5 years. The 6th International Oil and Gas Asia is being organized...
|
WCCI to prop up women entrepreneurs
KARACHI: Sindh Women Chamber of Commerce and Industry (SWCCI) is striving to upgrade women entrepreneurs of Sindh by capacity building through holding conferences and training programmes every month. The Chairperson SWCCI, Rukhsana Jahangir, while inaugurating the BRAAHTII (an outlet) ladies at Khayaban-e-...
|
Port Qasim shipping activity
Karachi: M.T Royal Peridot carrying 8,499 tonnes of palm oil took berth at Liquid Cargo terminal on Tuesday. Meanwhile, three more ships, M.V Orient-II, M,V Theak and M.T Iron Monger scheduled to load, offload 16,000 tonnes cement, 17,000 tonnes rice and 55,474 tones furnace oil also arrived at the...
|
Karachi stocks face profit-taking as index closes 2 points down
KARACHI: The Karachi stock market closed slightly in the red zone on Wednesday due to profit-taking by institutions.
The Karachi Stock Exchange (KSE) 100-share index shed 2.05 points or 0.02 percent to close at 9,784.98 points as compared to the previous session’s 9,787.03 points. The KSE 30-share...
|
ISE gains 3.46 points
ISLAMABAD: The Islamabad stock market closed with a slight gain of 3.46 points. The ISE 10-share index closed at 2,393.34 points from its previous level of 2,389.88 points. Of the total 154 participant companies, 81 climbed upward and 73 turned negative. Total turnover decreased to 0.623 million shares...
|
LSE sheds 3 points
LAHORE: The Lahore stock market on Wednesday witnessed a bearish trend as the LSE 25-share index lost 2.77 points to close at 3,081.63 points. Out of a total of 107 active companies, 29 improved, 38 lost and 40 remained unchanged. Service Industries Limited emerged as the major gainer of the day with...
|
Indian shares end flat on selling pressure
MUMBAI: A benchmark index for Indian equities shut shop on a flat note Wednesday, giving up its intra-day gains.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,072.94 points, was ruling at 17,092.16 points (provisional), 39.62 points or 0.23 percent...
|
Dollar remains low vs rupee
KARACHI: The greenback remained low versus the rupee in the interbank market, dealers said on Wednesday.
The dollar initiated the day’s trading at Rs 84.53 for buying, continued to lose strength and closed at Rs 84.50 for buying and Rs 84.55 for selling. The rupee incurred a gain of three paisas....
|
Euro pulls lower against dollar
LONDON: The euro pulled lower against the dollar on Wednesday in the wake of disappointing data in Germany, while traders tracked Europe’s public debt woes, analysts said. In morning London deals, the European single currency eased to $1.3586 from $1.3598 late in New York on Tuesday. Against the Japanese...
|
FTSEurofirst 300 index little changed
LONDON: European shares were little changed at midday on Wednesday, with falls in drugmakers offsetting a rise in commodity stocks, which were supported by firmer crude and metal prices.
By 1131 GMT, the pan-European FTSEurofirst 300 index of top shares was flat at 1,052.51 points. The index,...
|
Wall Street maintains upward trend
NEW YORK: Wall Street stocks drifted higher Wednesday on cautious market optimism that global economic recovery was on track.
The Dow Jones Industrial Average rose 21.24 points (0.2 percent) to 10,585.62 in initial trades after posting modest gains a day earlier on the one-year anniversary of...
|
European stocks edge ahead
LONDON: Europe’s leading stock markets nudged higher on Wednesday as traders awaited key US economic data and assessed the latest batch of company results.
London’s benchmark FTSE 100 index added just 0.09 percent to 5,5607.24 points, Frankfurt’s DAX 30 gained 0.25 percent to 5,900.79 points...
|
Asian stocks mixed despite China exports data
HONG KONG: Asian markets ended mixed Wednesday with most major indexes almost unchanged despite strong Chinese exports figures as dealers took profits on early gains ahead of key inflation data from Beijing.
China said exports in February rose at their fastest pace for three years, while its...
|
US, Europe eye free-trade pacts with rising Asia
SINGAPORE: The United States, fearful of being sidelined as China and other fast-growing Asian economies speed up their integration, is banking on a new trade pact to shore up its Pacific influence.
Talks opening Monday in Melbourne will focus on a proposed Trans-Pacific Partnership agreement...
|
Oil prices regain ground
LONDON: World oil prices firmed on Wednesday before the eagerly-awaited weekly snapshot on US energy inventories in leading consumer the United States.
Traders meanwhile digested news that the Organisation of Petroleum Exporting Countries (OPEC) has lifted its forecast for world oil demand growth.
New...
|
Number of US millionaires up 16% in 2009
WASHINGTON: The number of millionaires in the United States jumped by 16 percent last year after slumping by 27 percent in 2008, a report released shows.
Last year, some 7.8 million US households had a million dollars or more in investable assets — not counting capital invested in their primary...
|
Prices of gold, copper rise
LONDON: The prices of gold and copper rose on Wednesday in the London Bullion Market and London Metal Exchange, respectively. The price of gold rose to $1,125 an ounce from $1,115.75 an ounce on Tuesday. Meanwhile, copper rose as data showing strong Chinese imports of the industrial metal boosted confidence...
|
Japan’s machinery orders fell 3.7% in January
TOKYO: Japan’s core private-sector machinery orders, a leading indicator of corporate capital spending, fell 3.7 percent in January from the previous month, official data showed Wednesday. The drop reversed a robust 20.1 percent rise in December, which followed an 11.3 percent fall in November. The...
|
China exports boost extends into February
BEIJING: China said Wednesday its exports soared for the third straight month in February and at their fastest pace in three years, which analysts said could leave Beijing more open to a stronger yuan.
Overseas shipments grew 45.7 percent on-year last month to 94.5 billion dollars, the customs...
|
RSS
| Archives
| Company Financials
| Contact Us
| Friday, July 30, 2010 
