Low Graphics Site

June 06, 2007 Wednesday Jamadi-ul-Awwal 20, 1428 Banks not offering good return to depositors KARACHI, June 5: Bank depositors are still not getting better returns despite the assurances from the central bank which has issued warnings to banks to improve the profit rates for the real owners of the money.... PSO bidding by end of this month KARACHI, June 5: The bidding for sale of 51 per cent shares in Pakistan State Oil (PSO) would be held as scheduled by the end of current fiscal year, Zahid Hamid, Minister for Privatisation and Investment, told Dawn on Tuesday....   Govt to borrow Rs70bn for new budget: Financing gap ISLAMABAD, June 5: The government will borrow roughly Rs70 billion foreign funding to meet the gap of financing its 2007-08 budget, a senior official of the ministry of finance told Dawn.... Russia bans rice import from India New Delhi, June 5: Russia on Tuesday banned imports of rice and two other commodities from India after finding pests in some consignments, Press Trust of India reported.... Spinners may start token shutdown from 15th LAHORE, June 5: Some spinners are likely to launch a token two-hour shutdown protest from June 15 if the federal government fails to announce a relief package for the spinning sector... Exploration licence for Kunri block granted ISLAMABAD, June 5: The government on Tuesday granted an exploration licence to a joint venture of a local firm and the Kuwait Energy Company (KEC) for Kunri’s block 2468-7 in Sindh.... Ministries fail to utilise uplift funds ISLAMABAD, June 5: Many federal ministries and departments have failed to efficiently utilise funds allocated for various development projects until the end of the third quarter (July-March) period of the financial year 2006-07.... Stocks manage to sustain gains above 13,000-level KARACHI, June 5: The KSE 100-share index on Tuesday finally settled well above the barrier of 13,000 points boosted by heavy pre-budget and speculative buying in cement, oil and bank shares.... Chinese overseas investment BEIJING, June 5: China''s overseas investment is expected to grow at least 30 per cent in 2007, as the government continues to encourage local companies to expand abroad, state media said on Tuesday.... Move to cut duty on Kraft paper opposed KARACHI, June 5: The Polypropylene Cement Sack Manufacturers have taken strong exception to the proposal of reducing customs duty on Kraft paper from 10 to five per cent in the budget 2007-08.... Euro rises LONDON, June 5: The European single currency soared to a record high against the yen and gained on the dollar on Tuesday on the eve of a likely increase in eurozone interest rates.... Minor changes in PIBs yields KARACHI, June 5: The State Bank on Tuesday slightly changed the cut-off yields on different maturities of Pakistan Investment Bonds (PIBs) which reflected continuation of its firm interest rate policy.... Oil prices stable LONDON, June 5: World oil prices eased in New York but firmed in London on Tuesday, as a rogue cyclone in the Middle East was forecast to spare major crude producing nations in the region, analysts said.... Sales tax LUXEMBOURG, June 5: EU finance ministers struggled on Tuesday to agree on a shake-up of sales tax on services as tiny Luxembourg blocked a package aimed at updating rules for electronic commerce.... Insipid trading on cotton market KARACHI, June 5: Trading on the cotton market on Tuesday remained insipid as leading spinners and mills again kept to the sidelines awaiting further developments on the international markets.... PVMA reiterates demand for cut in import duty: Costly ghee, oil ISLAMABAD, June 5: The tax pundits in the Central Board of Revenue (CBR) and the association representing the edible ghee/oil industry are locked in a blame-game as consumers suffer due to persistent rise in prices of ghee and oil.... Crescent Bank ratings upgraded KARACHI, June 5: The JCR-VIS Credit Rating Co Ltd. has improved the medium- to long-term rating of Crescent Commercial Bank Limited (CCBL) to ‘A’ from ‘BBB’ and a short-term rating of ‘A-1’.... Manila inflation up MANILA, June 5: The Philippines on Tuesday said consumer price inflation came in at 2.4 per cent in May, inching up from 2.3 per cent in April.... Karachi Port operations KARACHI, June 5: Six ships carrying containers and to load cement and ethanol are expected to arrive at the outer anchorage on Wednesday, according to KPT sources.... Economic reforms WASHINGTON, June 5: China should step up market-opening and currency reforms to help counter a “protectionist tide” in the United States, US Treasury Secretary Henry Paulson said on Tuesday.... Bernanke sees US growth picking up CAPE TOWN, June 5: US Federal Reserve chairman Ben Bernanke said on Tuesday the world’s biggest economy was likely to improve to a “moderate” pace in future months following a pronounced slowdown at the start of the year.... Thai budget BANGKOK, June 5: Thailand''s cabinet on Tuesday approved a budget worth 1.66 trillion baht ($48 billion) in the next fiscal year starting October, incurring a deficit for the second consecutive year.... Asian stocks close mixed HONG KONG, June 5: Asian stocks closed mixed on Tuesday as investors began adjusting their positions after focussing on the roller coaster fluctuations in the Chinese markets.... European stocks rise LONDON, June 5: Europe''s main stock markets edged higher on Tuesday, with the mining sector forging upwards on strong metals prices, and as global equities shook off this week''s Chinese downturn, dealers said....

Contributions Privacy Policy © DAWN Group of Newspapers, 2007