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| June 12, 2008 | Thursday | Jamadi-us-Sani 07, 1429 |
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Business leaders term budget Awam Dos
KARACHI, June 11: The business leaders have termed the budget 2008-09 Awam Dost, and said it focuses on poor and fixed income groups, besides giving due attention to agriculture sector for... 
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Rs34bn to ensure social justice
KARACHI, June 11: Within very limited fiscal options and virtually no control on the international factors -- that dictate prices of almost all goods and services in the domestic market, the...
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Govt to borrow from public
KARACHI, June 11: The government’s plan to borrow directly from public by launching security papers and increasing return on National Saving Scheme by 2 per cent will hit hard the entire banking sector....
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Increase in salary income to be taxed at 20-50pc
ISLAMABAD, June 11: The government has introduced a concept of marginal tax relief for the salaried persons to cater for the negative impact of taxation under the present flat tax rate system....
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It’s a ‘balanced budget’, says KSE
KARACHI, June 11: Initial reactions of the Karachi Stock Exchange on the Finance Bill 2008-09, were to term it as a ‘balanced budget’. A statement released by the bourse soon after...
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Stocks stage snap pre-budget rally
KARACHI, June 11: Stocks staged a snap pre-budget rally on Wednesday on active short-covering triggered apparently by some ‘fiscal leaks’ about the corporate taxes and relief to some prominent sectors of the economy, ignoring the weak data in the Economic Survey....
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Customs duty on raw materialrationalised
ISLAMABAD, June 11: The government has rationalised customs duty on raw materials to promote and attract investment in various sectors....
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Rs1.5bn can’t bring white ‘revolution’
KARACHI, June 11: The allocation of Rs1.5 billion to bring “white revolution” through promotion of livestock sector in the budget 2008-09 is very insufficient keeping in view $300 million (about Rs20...
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Government employees reject 20pc raise
KARACHI, June 11: Government employees on Wednesday were disappointed with 20 per cent increase in basic salary, which they feel would not help beat the monster of dearness....
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Tax on builders to hit buyers
KARACHI, June 11: People seeking to buy property would be the ultimate sufferers as burden of tax on builders and developers would be passed on to them by jacking the prices of plots and flats and houses up....
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Cautious trading on cotton market
KARACHI, June 11: Trading on the cotton market on Wednesday was a bit cautious ahead of the budget as spinners and mills adhered to the sidelines awaiting details of fiscal measures...
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Euro gains after eurozone inflation data
LONDON, June 11: The euro rose against the dollar on Wednesday after inflation data from eurozone members France and Spain strengthened the case for interest rate rises by the European Central Bank, traders said....
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Oil gains $4 as US reserves tumble
LONDON, June 11: Oil prices jumped more than $4 to above $136 a barrel on Wednesday after news that American crude reserves sank for the fourth week in a row....
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India raises interest rate
MUMBAI, June 11: India’s central bank on Wednesday raised a key short-term borrowing rate by a quarter percentage point to 8.0 per cent to battle inflation that analysts say may be headed to double-digit levels....
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Karachi Port operations
KARACHI, June 11: Eleven ships carrying chemical, containers and general cargo are due to arrive at the outer anchorage on Thursday, according to KPT sources....
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Port Qasim
KARACHI, June 11: Three ships scheduled to load/offload containers and chemicals and iron ore were accommodated berths during the last 24 hours, said a PQA press release on Wednesday....
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Asian stocks close mixed
HONG KONG, June 11: Asian stocks closed mixed on Wednesday as Japan rallied on surprisingly strong economic growth data, but worries about inflation and a share price slump at the start of the week lingered....
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Palm oil prices steady
JAKARTA, June 11: Indonesian crude palm oil prices were steady on Wednesday as concern about a possible hike in export taxes next month and slow demand weighed on the market, while gains in Malaysian market provided some support....
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Gold recovers as oil firms
LONDON, June 11: Gold recovered some lost ground on Wednesday as traders took advantage of Tuesday’s price dip to buy into the market, with firmer oil prices boosting the precious metal’s appeal as an inflation hedge....
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Karachi market rates
KARACHI, June 11: The following were Wednesday commodity market rates in rupees....
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