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| June 18, 2008 | Wednesday | Jamadi-us-Sani 13, 1429 |
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Population may not remain sole criterion for award: Names sent for new NFC: Qaim
KARACHI, June 17: Sindh Chief Minister Syed Qaim Ali Shah said here on Tuesday that he was confident that in the new National Finance Commission (NFC) award, being constituted by the... 
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British team to explore business
LAHORE, June 17: A trade delegation from the UK is likely to visit Pakistan in the near future to have first-hand knowledge about the available business opportunities....
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Power outage shuts car plant
KARACHI, June 17: Production of cars and light commercial vehicles (LCVs) at the Pak Suzuki Motor Company Limited has stopped due to non-availability of power....
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US wholesale inflation stoked by energy costs
WASHINGTON, June 17: A leap in energy costs pushed up US wholesale prices 1.4 per cent in May while a closely watched “core” inflation rate remained tame, government data showed on Tuesday....
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Local banks avoiding new technology
KARACHI, June 17: Experts at a banking and financial technology exhibition, organised by the Dawn Media Group, revealed that Pakistani banks were still relying heavily on manual work despite availability of high-tech solutions....
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Plan to set up 6,000 milk cooling tanks
LAHORE, June 17: The Pakistan Dairy Development Company plans to establish over 6,000 cooling tanks under its cooling tank programme....
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US presses China to advance market-opening
ANNAPOLIS (Maryland), June 17: US Treasury Secretary Henry Paulson on Tuesday called on China to press further on market-opening measures despite a troubled global economy as the two nations opened high-level talks....
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TCP buys 140,000 tons of wheat
PARIS, June 17: The Trading Corporation of Pakistan (TCP) has bought an additional 40,000 tons of wheat at $399.45 per ton, the same price as for the 100,000 tons purchase announced earlier on Tuesday, European traders said....
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PHMA seeks R&D for 25 years
KARACHI, June 17: The manufacturers-cum-exporters of the value-added apparel sector, upset over withdrawal of research and development subsidy in the new budget, claimed that they stopped booking fresh export orders to avoid losses....
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Hardee’s to open in Pakistan
NEW YORK, June 17: CKE Restaurants Inc announced on Tuesday that it has signed development agreements with both MDS Foods Pte Ltd and Global Food Connection LLC to open 25 new Hardee’s restaurants in Pakistan over a period of five years....
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Duty raise on milk powder resented
KARACHI, June 17: Karachi Chamber of Commerce and Industry has expressed serious reservations over the increase in import duty from 20 to 30 per cent on all types of milk powder, announced in the budget 2008-09....
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Oil prices drop
LONDON, June 17: Oil prices fell further on Tuesday from record highs of almost $140 that were hit a day earlier despite news of a likely output hike by Saudi Arabia....
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Stocks cut overnight losses on select buying
KARACHI, June 17: Stocks on Tuesday turned in an improved performance and recouped a good part of the initial losses under the lead of oil sector, but the activity remained terribly insipid in the absence of buyers....
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Cotton market maintains bullish outlook
KARACHI, June 17: The cotton market on Tuesday maintained a bullish outlook amid active trading as spinners continued to lift all the lots being offered by the ginners....
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Karachi Port operations
KARACHI, June 17: Six ships carrying containers and to load ethanol and molasses are expected to arrive at the outer anchorage on Wednesday, according to KPT sources....
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Dollar stoops against euro
LONDON, June 17: The dollar wilted against the euro on Tuesday on fresh signs of US economic weakness and despite figures pointing to a spurt in US inflation....
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Port Qasim
KARACHI, June 17: Four ships scheduled to load/offload containers, cement, phosphoric acid and diesel oil were berthed during the last 24 hours, said a PQA press release on Tuesday....
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UK inflation jumps to 16-year high
LONDON, June 17: British inflation hit a 16-year high of 3.3 per cent in May, driven by soaring food and energy costs prices, figures showed on Tuesday, complicating central bank efforts to keep a slowing economy on track....
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BSA drive for legal software
ISLAMABAD, June 17: The Business Software Alliance (BSA) on Tuesday informed businesses that it has extended till June 27 the 60-day support campaign aimed at helping corporate sector acquire licences for the software they use to run their organisations....
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Sialkot CCI seeks end to LC margin
SIALKOT, June 17: The Sialkot Chamber of Commerce and Industry has urged the government to immediately abolish 35 per cent cash margin on opening of letters of credit by the importers....
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Asian stocks close mixed as China slumps again
HONG KONG, June 17: Asian stocks closed mixed on Tuesday with even more gloom enveloping the Chinese stock market after it tumbled to its lowest level in over 15 months....
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Palm oil down 2.2pc
JAKARTA, June 17: Malaysian crude palm oil futures fell 2.2 per cent on Tuesday as losses in the US crude oil market encouraged investors to sell vegetable oils and as sluggish overseas demand weighed on the market....
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Gold steady
LONDON, June 17: Gold was steady after on Tuesday’s sharp gains as the dollar languished against the euro and oil held above $130 a barrel, with traders awaiting US economic data to give fresh market direction....
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Karachi market rates
KARACHI, June 17: The following were Tuesday commodity market rates in rupees....
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