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| May 18, 2008 | Sunday | Jamadi-ul-Awwal 12, 1429 |
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FDI rising despite negative indicators
KARACHI, May 17: Despite discouraging economic and political indicators, foreign direct investment (FDI) improved substantially in April to take the total close to $3.5 billion in 10 months of the current fiscal year.... 
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RTO, IT Bar reach accord on tax audit
KARACHI, May 17: The Regional Tax Office Karachi and the Income Tax Bar Association Karachi (ITBAK) have reached a broad-based understanding over issues relating to selection of tax cases for a detailed audit....
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Gloom settles on KSE in 2008
Karachi, May 17: Gloom seems to have settled on the country’s capital market during the current year. The number of companies listed on the Karachi Stock Exchange have stood unchanged at 654 since the start of the year....
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Millers to discuss wheat movement ban on 26th
KARACHI, May 17: Leaders of wheat flour industry are meeting on May 26 at Quetta to demand removal of ban on inter-provincial movement of wheat after a restriction on inter-district movement in Punjab has been lifted....
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Prices of domestic appliances up
KARACHI, May 17: The falling rupee against the dollar and rising world prices of raw materials have pushed up the prices of locally made electronic and domestic appliances....
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Drive against vehicle tax defaulters from 19th
KARACHI, May 17: The motor vehicle registration department (MVR) would start a one-week drive against vehicle tax defaulters from Monday (May 19) to enhance revenue before the close of the financial year....
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Rs750m edible oil plant near PQ
KARACHI, May 17: An edible oil processing and packaging plant is being set up near Port Qasim at a cost of Rs750 million by the International Multi-Group of Companies (IMGC) in collaboration with Desmet Ballestra (SEA) Ltd, Singapore....
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Pressure mounts for Saudi oil output hike
RIYADH: Saudi Arabia, May 17: The world’s largest crude producer, has been under intense focus, once again this week. The issue of oil and the pressure on Riyadh to increase crude output has been intense as President George W....
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Malaysian palm oil expertise sought
ISLAMABAD, May 17: Federal Minister for Finance Naveed Qamar said on Saturday that the government priority was to build a broad-based industrial and investment infrastructure in the country....
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SBP issues licence to HSBC Bank Middle East
KARACHI, May 17: The State Bank of Pakistan has issued a licence to HSBC Bank Middle East Ltd. which has started operating as a scheduled bank in Pakistan with effect from May 16, 2008....
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Faisalabad CCI refuses refund of excess fee
FAISALABAD, May 17: Members of the Faisalabad Chamber of Commerce and Industry (FCCI) seek refund of millions of rupees they were forced to deposit as membership renewal fee, sources told Dawn on Saturday....
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UK team briefed on investment initiatives
LAHORE, May 17: Senior Country Manager for UK Trade and Investment Peter Courtney has said that huge liquidity of expatriates in the UK could be utilised through the Overseas Pakistanis Foundation’s Special Economic Zone for development of Punjab....
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Bankers work on Libor, US version readies
NEW YORK, May 17: Bankers on both sides of the Atlantic are addressing problems with Libor, the leading global benchmark rate for inter-bank borrowing, while one brokerage aims to launch a supplemental New York-based backup next week....
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Cotton prices rise on brisk demand
KARACHI, May 17: Cotton prices were quoted further higher by Rs25 per maund on Saturday as spinners and mills indulged in big-lot business in an apparent effort to grab the floating stock of fine lots....
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Karachi Port operations
KARACHI, May 17: Four ships carrying coal, containers and to load cement are expected to arrive at the outer anchorage, according to KPT sources....
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Port Qasim
KARACHI, May 17: Four ships scheduled to load/offload containers, palm oil and chemicals were accommodated berths during the last 24 hours, said a PQA press release on Saturday....
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Iran expects 20m litres gasoline import daily
TEHRAN, May 17: Iran expects to import about 20 million litres of gasoline per day during the 2008-9 year, less than half the amount it would have imported had it not launched rationing last June, an energy official said on Saturday....
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Wall Street sees light at end of tunnel
NEW YORK, May 17: Wall Street is clawing its way back from a dismal start to the year as confidence grows about the prospects of a US economic recovery without a calamitous downturn....
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Record-breaking oil prices race higher
LONDON, May 17: Oil prices scaled fresh record heights this week, climbing past $127 per barrel as the market was energised by tight supplies and a weak US currency, traders said....
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Dollar softens
NEW YORK, May 17: The dollar lost ground on Friday as a weak reading on US consumer confidence offset a surprisingly robust report on housing starts....
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