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| October 19, 2007 | Friday | Shawwal 6, 1428 |
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US industry sees risks from weak dollar
WASHINGTON, Oct 18: US industrial leaders see a potential for problems from the prolonged weakness in the dollar despite the boost it may give to American exports, a manufacturing group said on Thursday.... 
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KSE index at life high on Benazir’s return
KARACHI, Oct 18: Pakistani shares ended on a life high on Thursday on hopes of stability following the return of former prime minister Benazir Bhutto to Pakistan, dealers said....
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Asia receives $114bn remittances in 2006
RAWALPINDI, Oct 18: Asia was the top destination of remittances, receiving more than $114 billion in 2006, while Pakistan remained at position No. 3 among Asian countries with $6,242 million or 4.8...
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Oil prices swing close to record levels
LONDON, Oct 18: World oil prices rebounded close to recent records on Thursday as traders tracked Middle East tensions and the weak US dollar, and warned of crude striking $100 per barrel....
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Kinno exports to improve this year
ISLAMABAD, Oct 18: Pakistan may be able to export 200,000 tons of kinno this season starting mid-November because of the expected bumper crop which is likely to yield 1.6 million tons....
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Auto parts being imitated
KARACHI, Oct 18: Counterfeiting of auto parts is rampant in major cities of the country....
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Returns filing
ISLAMABAD, Oct 18: The Federal Board of Revenue (FBR) has extended timing for filing of income tax returns on Oct 20 in a bid to facilitate the taxpayers....
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List of Rs6.237bn tax defaulters issued
KARACHI, Oct 18: The sales tax department has issued a new list of 1,160 persons against whom an amount of Rs6.237 billion in taxes is outstanding for the last several years....
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Reserves
KARACHI, Oct 18: Pakistan’s total liquid foreign exchange reserves surged by $151 million to a record high at $16.335 billion mark this week....
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Sri Lankan bond issue overbooked
COLOMBO, Oct 18: Sri Lanka’s central bank said its maiden $500 million bond issue, rated as below investment grade, was oversubscribed three times despite soaring inflation in the war-torn nation....
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Turkey cuts budget surplus
ANKARA, Oct 18: The Turkish government cut its primary budget surplus target for 2008 by one percentage point, Finance Minister Kemal Unakitan said on Thursday, in a sign of relaxing monetary policy following a strong economic recovery....
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Swiss trade surplus
GENEVA, Oct 18: Switzerland’s trade surplus reached a record monthly level in September, capping a nine-month boom that drove the surplus through the 10 billion Swiss franc barriers, authorities said on Thursday....
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Euro hits record high above $1.43
LONDON, Oct 18: The euro hit historic highs above $1.43 on Thursday as the market judged that the United States will be forced to cut rates again to help a slowing economy, dealers said....
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US urges Japan to open markets
WASHINGTON, Oct 18: The United States urged Japan on Thursday to take further steps in opening and deregulating its markets, especially the medical, pharmaceutical and insurance sectors....
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US economic activity rebounds
WASHINGTON, Oct 18: A forward-looking gauge of US economic activity rebounded in September, pointing to “slow but steady” growth, the Conference Board reported on Thursday....
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Novartis to make job cuts
BASEL, Oct 18: Swiss pharmaceutical giant Novartis on Thursday announced more than 1,200 job losses in the United States after its third quarter results weakened on sharper competition from generic drugs....
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EU unveils cargo movement action plan
BRUSSELS, Oct 18: The European Commission announced on Thursday a vast action plan to ease international freight traffic in Europe, by opening up priority rail corridors and cutting red tape for ships moving between EU ports....
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Port Qasim
KARACHI, Oct 18: Brisk shipping activity was witnessed at the port where four ships carrying containers, edible oil and chemicals were allotted berths at QICT, MPT and Engro Vopak terminal during the last 24 hours, says a PQA press release....
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Study lowers Spain’s GDP forecast
MADRID, Oct 18: Spain’s GDP growth could fall next year to 2.8 per cent from an expected 3.1 per cent due to the global financial crisis, a study by the country’s second largest bank, BBVA, said on Thursday....
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Bank of America profits fall sharply
NEW YORK, Oct 18: Bank of America’s chief executive admitted disappointment on Thursday as the financial giant’s third quarter profit fell sharply to $3.7 billion largely due to swelling investment losses....
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Asian stocks close mixed
HONG KONG, Oct 18: Asian stocks closed mixed on Thursday with a technical rebound in some markets helping to limit extended losses elsewhere in response to concerns over the state of the global economy....
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Palm oil prices steady
JAKARTA, Oct 18: Indonesian palm oil prices were steady on Thursday on local demand despite losses in Malaysia while the cooking oil market was quiet as some dealers had not resumed trading after the Eid-ul-Fitr break....
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