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| June 03, 2007 | Sunday | Jamadi-ul-Awwal 17, 1428 |
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Banks curtail financing for consumerdurables
KARACHI, June 2: Banks have almost stopped financing for consumer durables because of higher default rate, second only to agriculture loans. While bankers see much potential in the consumer financing which... 
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Sindh to earmark Rs50bn for development: Rs230bn budget likely on 15th
KARACHI, June 2: The Sindh government is preparing a budget of about Rs230 billion plus for the next fiscal year, which is likely to include a development outlay of Rs45 to...
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Aziz satisfied with rural economy’s growth
ISLAMABAD, June 2: Prime Minister Shaukat Aziz has said that five per cent agriculture growth achieved this year has a positive impact on rural economy and farm income and infused purchasing power and liquidity in rural economy....
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19 items’ prices move higher
ISLAMABAD, June 2: The Sensitive Price Index (SPI) increased by 0.86 per cent during the week ending June 1, 2007 over the previous week, according to the weekly price data released by the Federal Bureau of Statistics (FBS) here on Saturday....
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Customs duty, GST collections remain short of target
ISLAMABAD, June 2: The Central Board of Revenue (CBR) is facing a revenue shortfall of Rs52.026 billion on account of two leading federal taxes — general sales tax (GST) and customs...
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Banks role in economic growth recognised
ISLAMABAD, June 2: Prime Minister Shaukat Aziz has said the banking industry is playing an important role in the economic growth of the country. Talking to Chief Executive Officer Barclays Emerging...
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Lukewarm response to MNP facility
KARACHI, June 2: Only 17,000 cell-phone subscribers, out of over 52 million phone users, have, so far, availed the new facility of mobile number portability (MNP) since its launching on March 23, 2007....
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ST exemption to POF likely on electricity
ISLAMABAD, June 2: The government is considering giving sales tax exemption on electricity used in the manufacture of arms and ammunition for export purposes. An official told Dawn on Saturday that...
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Govt mulling package for textile sector
FAISALABAD, June 2: Ministry of Textile Industry is working on a third package to bail out the textile sector from the crisis. Federal Minister for Textile Industry Ch....
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Financing for wheat export withdrawn
KARACHI, June 2: The State Bank of Pakistan (SBP) has withdrawn financing to wheat exports and asked commercial banks to refrain from financing wheat exports with immediate effect....
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CFS rates fall slightly
KARACHI, June 2: The investment under the CFS on the Karachi Stock Exchange last week showed a modest fall as demand for funds shrank despite a robust market owing to comfortable liquidity position....
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CBR allows refund
ISLAMABAD, June 2: The CBR has allowed refund on utilities and packing material used in the manufacture of vegetable ghee for export purposes. The decision was announced through a notification SRO-443 issued here on Saturday by amending the SRO-993 of 2006....
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Cotton prices fall on new crop
KARACHI, June 2: Cotton prices on the Karachi Cotton Exchange on Saturday were lowered by Rs25 per maund partly in line with the new crop from the lower Sindh ginneries and partly to quality factors....
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Abu Dhabi to showcase 11 firms in UK, US
ABU DHABI, June 2: Abu Dhabi will showcase companies including its largest bank in London and New York this month to encourage foreign investment in the Gulf’s best performing bourse, the emirate’s exchange said on Saturday....
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Efforts on to improve railways working
ISLAMABAD, June 2: Minister for Railways Sheikh Rashid Ahmed on Saturday said that all measures were being taken to upgrade the working of Pakistan Railways (PR) as well as improving its service quality matching the international standards....
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Karachi Port operations
KARACHI, June 2: Nine ships carrying DAP fertiliser, steel and to load molasses are expected to arrive at the outer anchorage on Sunday, according to KPT sources....
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Port Qasim
KARACHI, June 2: Brisk shipping activity was witnessed at the port where five ships carrying containers, diesel oil, and iron ore were allotted berths at QICT, Fotco terminal and IOCB, respectively, says a PQA press release....
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Metal prices higher, but oil skids lower
LONDON, June 2: Metal prices jumped higher this week as the US dollar struggled to find higher ground, while lead hit a record high on worries over critically low stockpiles and Chinese demand.Oil...
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Slide in US govt debt prices
NEW YORK, June 2: US government debt prices slid on Friday after strong data on labour and manufacturing all but quashed the market''s remaining hopes for a Federal Reserve interest-rate cut this year....
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Bush highlights US ‘global leadership’: G8 summit
WASHINGTON, June 2: US President George W. Bush on Saturday praised US “global leadership and generosity” ahead of a Group of Eight summit in Germany expected to be marked by massive protests against the war in Iraq....
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US sugar prices hit month-high
NEW YORK, June 2: Speculators in New York sugar futures turned into a net long, or bullish, position in the week to May 29 as prices of the sweetener hit a one-month peak, trade data released on Friday showed....
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Dollar gains on strong job market report
NEW YORK, June 2: The dollar traded mainly higher on Friday as better-than-expected US data helped shift expectations on healthy growth going forward in the world''s biggest economy....
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US auto sales steady
DETROIT, June 2: US auto sales steadied in May to show surprising strength in the face of high gas prices and a weak housing market, led by gains for industry leaders General Motors Corp....
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Wall Street ends bumper week
NEW YORK, June 2: Wall Street celebrated a bumper week on Friday that left the Dow Jones Industrial Average and the Standard and Poor''s 500 stock indexes basking at record highs....
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US trade mission to visit Russia
WASHINGTON, June 2: US Trade Representative Susan Schwab heads to Russia late next week for expected talks on Moscow''s bid to join the WTO and other issues, a US trade official said on Friday....
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Karachi market rates
KARACHI, June 2: The following were Saturday’s commodity market rates in rupees....
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