‘Low prices endanger cement units’ existence’
By Nauman Tasleem
CHAKWAL: Many cement plants would be forced to shut down in the near future if the prevailing cement prices were not raised, said Dr Arif Bashir, General Manager Works at DG Khan Cement plant at Khairpur.
Explaining the reason for his concern, he said that the... 
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India wants to improve trade relations with Pakistan
RAWALPINDI: Indian Embassy would fully cooperate with the Pakistani business community to boost the bilateral trade relations between the two countries and also give visa relaxation to the Pakistani businessmen.
This was stated by Indian Commercial Counsellor to Pakistan, Rajindar Kumar Sharma...
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FO prices up again by over Rs 1,500/tonne
KARACHI: The local refineries and the oil marketing companies have once again increased their furnace oil prices by more than Rs 1,500 per metric tonne for the next fortnight.
Local furnace oil price now stand at Rs 48,327 per metric tonne with an increase of Rs 1,225 per tonne, whereas imported...
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Investment in NSS triples in 1Q FY09
KARACHI: Investment in national savings schemes during the first quarter of the current fiscal year was almost thrice the amount invested in the same period of last financial year, official figures released on Monday reveal. According to official figures, the government managed to raise Rs 36.082 billion...
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Merger of AKL with AKBL approved
By Tanveer Ahmed
KARACHI: The scheme of merger of Askari Leasing Limited (AKL) with and into Askari Bank Limited (AKBL) has been approved in a meeting of the board of directors of the two companies on Monday, according to information communicated to shareholders.
The merger would...
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SECP hands over draft Corporate Rehabilitation Act to MoF
By Sajid Chaudhry
ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) here on Monday handed over draft Corporate Rehabilitation Act, 2009 to the Ministry of Finance for initiating formal approval process from the parliament.
Due to rising non-performing loans the...
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Govt to establish PMO for utilisation of $1.18 billion
By Ijaz Kakakhel
ISLAMABAD: The Asian Development Bank (ADB) supported Investment Programmeme cost worth $1.180 billion for the government’s plans to establish “Programme Management Office (PMO)” for sustainable energy efficiency investment programme.
Realizing the acute shortage...
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KCCI lauds Sindh govt for signing 2 agreements
KARACHI: President, Karachi Chamber of Commerce and Industry, Abdul Majid Haji Muhammad has lauded the efforts of Chief Minister of Sindh, Syed Qaim Ali Shah and Advisor to Chief Minister Sindh on Investment, Muhammad Zubair Motiwala for signing two agreements under Public Private Partnership viz Hyderabad-Mirpur...
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Mobilink ARPU up 9% in Q3 2009
By Muhammad Yasir
KARACHI: Mobilink use of services increased as its Average Revenue per User (ARPU) witnessed growth of nine percent in third quarter of the current fiscal year 2009 compared with the corresponding period of last year.
The financial results released by Orascom Telecom...
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President invites investors from Qatar
ISLAMABAD: President Asif Ali Zardari Monday urged investors from Qatar to focus on Pakistan’s energy, infrastructure, information technology and construction sectors.
Talking to the outgoing ambassador of Qatar, Hamad Ali Jabir Al- Hinzab during his farewell call, the President said Pakistan...
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BoP discusses proposals for improvement
LAHORE: A meeting of board of governors of Bank of Punjab was held here on Monday under the chairmanship of Punjab Chief Minister, Muhammad Shahbaz Sharif, who considered various proposals for improving the performance of the bank. Senator Ishaq Dar, Member National Assembly Khawaja Muhammad Asif, Chief...
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Emirates announces Eid packages
ISLAMABAD: Emirates Holidays, the tour operating arm of Emirates airline, is offering a range of tailored holidays for the perfect getaway this Eid at affordable prices. Even better, the offer include exciting additional features such as bonus nights, extra luggage allowances, room upgrades and complimentary...
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FPCCI to attend ICC moot in Dhaka
KARACHI: Zakaria Usman, vice president FPCCI has left for Dhaka on Monday to attend a Seminar organised by International Chamber of Commerce (ICC) and World Chambers Network to highlight the use of Information Technology for International Trade and role of Chambers in the E-Commerce/E-Business World...
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IGI Insurance receives ‘Merit Award’
ISLAMABAD: IGI Insurance Limited, part of the IGI Financial Services Group, was awarded the ‘Merit award’ for the year 2008 in the category ‘Non –Banking Sector not subject to prudential supervision’ by the South Asian Federation of Accountants (SAFA). The award was presented at a ceremony held in Dhaka,...
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Warid clarifies
KARACHI: Warid Telecom (Pvt.) Ltd. is a leading telecom company in Pakistan that is recognised as the most reliable and steadfast telecom operator. Warid Telecom has issued an official statement in response to the rumor on ‘Warid Telecom Merger’. The statement endorses the un-authenticity of the news...
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Enraged retailers protest against non-availability of sugar
By Tanveer Sher
KARACHI: Non-supply of sugar to retailers by the Jodia Bazaar wholesalers and its continued scarcity resulted in law and order situation on Monday when enraged traders blocked MA Jinnah Road close to City Court for more than two hours causing heavy traffic clogging.
The...
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8 out of 45 Punjab mills start sugar production
LAHORE: Eight sugar mills out of a total of 45 in Punjab have started sugar production while the remaining are ready to operate subject to the availability of required sugarcane. Provincial Cane Commissioner, Shahid Hussain Chaudhary told APP Monday that Pattoki, Ittehad, Hamza, JW, United, Hussain,...
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Karachi stocks gain 237 points on intense buying activity
KARACHI: The Karachi stock market faced a bullish trading session on the first trading day of the week Monday due to intense buying activities in blue chips on strong valuations in oil, banking and fertilizer sectors.
The Karachi Stock Exchange (KSE) 100-share index surged by 237.14 points or...
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Lahore stocks rise 96 points
LAHORE: The Lahore Stock Exchange (LSE) remained bullish on Monday with an improvement in the volume. The LSE 25-share index added 95.65 points to close at 2,870.62 points as against its opening at 2,774.97 points. The volume of the market was recorded at 14.17 million shares, which was 3.99 million...
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ISE increases by 70 points
ISLAMABAD: The Islamabad stock market witnessed a firm trading session on Monday as the ISE 10-share index was up by 69.55 points to close at 2150.84 points from its previous level of 2081.29 points. Of the total 156 participant companies, 96 climbed upward and 60 turned negative. Total turnover increased...
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FTSE 100 near 14-mth high
LONDON: Britain’s leading shares hit a 14-month high on Monday, up for a fourth straight day as miners and energy stocks rose on an improved demand outlook and a weaker dollar.
At 1220 GMT, the FTSE 100 was up 1.1 percent, or 55.77 points at 5,352.15, extending gains from Friday when the index...
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European shares move ahead
LONDON: European shares advanced for a fourth straight session on Monday to trade just below a 13-month high, with resource-related stocks rising on stronger crude and metals prices, while Tandberg rose on a higher bid offer.
By 1145 GMT, the FTSEurofirst 300 index of top European shares was...
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Greenback moves up against rupee
KARACHI: The dollar gained modest grounds versus the rupee in the interbank market, dealers said on Monday.
The American currency commenced the day’s trading at Rs 83.42 for buying and after gaining three paisas closed at Rs 83.45 for buying and Rs 83.50 for selling. The euro also witnessed...
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— weakens after APEC summit
LONDON: The dollar weakened on Monday as traders took a lack of agreement on currencies among Asian and US leaders as a cue to sell the greenback, particularly against more freely floating currencies like the euro. The US and China failed to reach an agreement over currencies at a summit of the APEC...
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Indian scrips rise 1.09 percent
MUMBAI: Indian shares rose 1.09 percent on Monday, led by firm global markets and investor hopes of a revival in domestic economic growth, dealers said. The benchmark 30-share Sensex index jumped 183.68 points to 17,032.51. Retail investors and investment funds were both active buyers as Asian and European...
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US stock futures trim gains after data
NEW YORK: The US stock index futures trimmed gains on Monday after data showed manufacturing in New York State fell more than expected in November, even as retail sales grew at a faster pace than expected for October.
S&P 500 futures gained 7.8 points and were above fair value, a formula that...
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Asian shares gain amid high capital inflows
HONG KONG: Asian shares saw strong gains amid high capital inflows Monday, but investor caution in Tokyo overshadowed news that Japan’s economy grew the fastest in more than two years in the latest quarter.
Tokyo ended 0.21 percent higher, with sentiment hit by fears of a wave of new share issues....
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Washington not trying to contain China: Obama
* Calls for more balanced trade between the two powers
SHANGHAI: US President Barack Obama said he was not seeking to contain China’s rise and called for more balanced trade between the two powers, which have sparred over currency and economic policy ahead of a summit.
The US president...
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Oil rises above $78 a barrel
LONDON: Oil prices rose above $78 a barrel on Monday, taking back all of last week’s 1.4 percent losses as the dollar drifted lower and better-than-expected US consumer spending data boosted markets.
US crude futures for December delivery rose $2.05 to $78.40 a barrel by 1512 GMT, climbing as...
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Gold hits record near $1,135/oz
LONDON: Gold touched a fresh high near $1,135 an ounce on Monday as momentum from recent gains and a slide in the dollar index sparked fund buying of the precious metal. Gains in gold boosted interest in other precious metals, with platinum, palladium, silver and rhodium all hitting their strongest...
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Japan’s economy posts strongest growth since 2007
* Exports climb 6.4% in July-September, while corporate capital expenditure rises 1.6% and household spending goes up 0.7%
TOKYO: Japan announced Monday its best economic growth in more than two years during the latest quarter, boosting hopes the global economy is getting back on its feet...
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Eurozone CPI falls for 5th mth
BRUSSELS: Prices across the 16 nations using the euro fell annually in October for the fifth month running official figures showed on Monday.
The official Eurostat EU data agency confirmed an earlier estimate that the cost of living across the eurozone fell by just 0.1 percent, a significantly...
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| Sunday, January 21, 2007
