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| May 06, 2008 | Tuesday | Rabi-us-Sani 29, 1429 |
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KSE down 2pc: no defaults, many margin calls
KARACHI, May 5: The KSE-100 index lost 2 per cent of the value on Monday as investors’ jettisoned stocks disillusioned by the increasing uncertainty on the political and economic fronts.... 
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Two European banks to help ease energy crisis
ISLAMABAD, May 5: Two major European banks -- Nordic Investment Bank (NIB) and European Investment Bank (EIB) -- have agreed to provide adequate financial assistance to help minimise the growing energy crisis in Pakistan....
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Maybank buys 15pc stake in MCB Bank
KARACHI, May 5: MCB Bank on Monday announced that Maybank had signed agreement to buy 15 per cent stake in the bank now and another five per cent after a year....
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Rupee sinks deeper
KARACHI, May 5: The rupee slipped further on Monday as it lost 70 paisa against the US dollar to reach Rs65.85, adding to the nervousness of importers....
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Oil price crosses $120 for first time
NEW YORK, May 5: Oil prices crossed $120 a barrel in New York on Monday following fresh unrest in Nigeria, Africa’s largest oil producer, and rising tensions between the West and Iran....
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Proposal to raise gas tariff opposed
LAHORE, May 5: The Lahore Chamber of Commerce and Industry and All Pakistan Textile Mills Association (Aptma) have cautioned the Oil and Gas Regulatory Authority of the serious repercussions on industry by the proposed 35 per cent increase in gas tariff....
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Pak Suzuki plans to assemble Euro-II cars
KARACHI, May 5: A leading auto assembler is lobbying ahead of the new budget for the permission to import Euro-II compliant auto parts from India at zero rated duty for manufacturing cars with Euro-II engine locally....
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Funds for stalled AEPZ to be released
KARACHI, May 5: Sindh Agriculture Secretary Sabhago Khan Jatoi has assured to release funds for the stalled development work on Agro Export Processing Zone (AEPZ) after finalising work plan, including road map indicating specific time schedule.In...
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Shariah Capital Fund launched
KARACHI, May 5: Meezan Bank has launched country’s first Shariah-compliant Capital Protected Fund jointly with Al Meezan Investment Management (Al Meezan Investments), the asset management subsidiary of Meezan Bank....
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Sessi issues notices to industries
KARACHI, May 5: The Sindh Employees’ Social Security Institution (Sessi) has issued notices to industrial establishments for the recovery of social security dues towards their workers....
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Stocks lose 284 points on political uncertainty
KARACHI, May 5: The KSE 100-share index on Monday plunged by 284 points or about two per cent at 14,673.13 on near-panic selling triggered by conflicting statements by the major coalition...
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Trading on cotton market remains insipid
KARACHI, May 5: Trading on the cotton market on Monday remained insipid as spinners and mills kept to the sidelines most of the time apparently having an overview of the final crop figures, floor brokers said....
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Dollar eases
NEW YORK, May 5: The dollar eased on Monday, failing to build on gains made last week on US jobs data that was not as weak as expected, as investors debated...
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ADB launches climate change fund
RAWALPINDI, May 5: The Asian Development Bank (ADB) is establishing a new fund to slow the onset of climate change and to help the Asia-Pacific region adapt to the expected devastating impact of global warming....
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Karachi Port operations
KARACHI, May 5: A dozen ships carrying palm oil and to load cement and clinkers are expected to arrive at the outer anchorage on Tuesday, according to KPT sources....
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Switzerland to boost investment
KARACHI, May 5: President of Swiss-Asian Chamber of Commerce in Zurich Peter Zuellig and Swiss Consul General Martin Benz expressed positive views about Pakistan as an area of investment, stressing on...
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Port Qasim
KARACHI, May 5: Four ships scheduled to load/offload containers, diesel oil and acetic acid were accommodated berthed during the last 24 hours, said a PQA press release on Monday....
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Pakistan’s economic growth hailed
DUBAI, May 5: His Highness Sheikh Nahyan Bin Mubarak Al Nahyan, chairman of the Abu Dhabi Group, hailed Pakistan’s economy for growing steadily at an impressive rate....
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Asian shares gain
HONG KONG, May 5: Asian stocks closed mostly higher on Monday as fears of a potentially deep US economic downturn eased, with the Chinese stock market continuing a strong rally....
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WTO rules against Japan
GENEVA, May 5: Japan must drop punitive tariffs on imports of semiconductors made by South Korean firm Hynix by September 1, a World Trade Organisation arbitrator ruled on Monday....
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Palm oil rises
KUALA LUMPUR, May 5: Malaysian crude palm oil futures rose 1.5 per cent on Monday, rebounding from last week’s three-week low on fears of tight supplies due to renewed protests by Argentine farmers and prospect of firmer Asian demand....
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Gold sales up
DUBAI, May 5: Abu Dhabi’s gold jewellery sales rose 10 per cent in volume and 20 per cent in value in April compared to the year-ago period on demand by foreign...
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