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| July 17, 2008 | Thursday | Rajab 13, 1429 |
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Crisis at stock market turning into calamity
KARACHI, July 16: The stock market crisis is turning into a calamity, reflected by an unstoppable downward drift in share prices for the 15th trading session in a row on Wednesday.The... 
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Remittances touch record $6.5bn
KARACHI, July 16: Pakistan received record remittances of about $6.5 billion during 2007-08 from overseas workers enabling the country to meet at least 50 per cent of the current account deficit....
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Oil sinks after jump in US crude reserves
LONDON, July 16: Oil prices plunged by $5 five on Wednesday, extending this week’s spectacular losses after a surprise jump in crude reserves in key energy consumer the United States, traders said....
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Vehicles fetch Rs6.8bn duty
KARACHI, July 16: The customs authorities collected Rs6.822 billion towards duty on import of 19,232 vehicles during 2007-08 compared to Rs6.945 billion collected on import of 30,631 vehicles in the previous year....
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12-month treasury bills yield rises
KARACHI, July 16: The cut-off yield on 12-month Treasury bills rose at an auction on Wednesday to 11.8392 per cent from 11.7891 per cent previously, the central bank said....
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US inflation hits 26-year high
WASHINGTON, July 16: Soaring energy prices drove US consumer prices up a hefty 1.1 per cent in June to an annual rate of 5.0 per cent, data showed on Wednesday amid rising stagflation concerns....
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Rupee closes 1pc weaker
KARACHI, July 16: The rupee ended one per cent weaker on Wednesday due to lack of positive sentiment and worries about portfolio outflows from the stock market along with import payments, dealers said....
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Pakistan’s apparels fetch lowest price
ISLAMABAD, July 16: Pakistan’s textile and clothing sector export price has nosedived to the lowest level among the leading exporting countries preventing fresh investment in the sector necessary to improve competitiveness and productivity....
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Sindh may seek Rs33bn recovery: Flawed GST distribution
KARACHI, July 16: The Sindh government is likely to be asked to take a petition before the National Finance Commission, to be constituted in next few days, for recovery of over...
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State Life to launch products for farmers
KARACHI, July 16: The State Life Insurance Corporation is considering developing products for the agriculture sector to further consolidate the organisation’s services to the rural sector....
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36,000 tons of wheat arrive
KARACHI, July 16: A vessel MV Ocean Trader, carrying 36,000 metric tons of wheat imported from Ukraine berthed at Port Qasim on Wednesday....
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Entire CFS MK-II put into action
KARACHI, July 16: After the successful implementation of CFS MK-II initially with 12 CFS MK-II eligible securities, the National Clearing Company of Pakistan Limited (NCCPL) has implemented entire CFS MK-II with all CFS MK-II eligible securities from Karachi location....
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KSE loses 468 points on Nato troop buildup
KARACHI, July 16: Stocks on Wednesday again fell across the board on panic selling originating from the local and foreign investors triggered by reports of Nato troop build-up on the Pak Afghan border and fears of attack on the tribal areas....
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Energy moot
LAHORE, July 16: Due to acute shortage of energy and its limited production through conventional sources, there is an urgent need to tap the potential of alternative energy in Pakistan in particular and South Asian region in general....
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Massive buying on cotton market
KARACHI, July 16: Physical activity on the cotton market was maintained on the higher side as spinners were not inclined to take even a technical breather and again lifted all the...
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Karachi Port operations
KARACHI, July 16: Six ships carrying DAP fertiliser, rock phosphate and general cargo are due to arrive at the outer anchorage on Thursday, according to KPT sources....
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Port Qasim
KARACHI, July 16: Three ships carrying containers, palm oil and furnace oil were allotted berths on Tuesday, said a PQA press release on Wednesday....
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Changes made in PQA board
KARACHI, July 16: The newly-constituted Port Qasim Authority (PQA) board was not allowed to hold its first meeting because some changes were made by inducting two new members belonging to Pakistan Ship Agents Association (PSAA)....
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E-commerce
SHANGHAI, July 16: Commerce on the Internet in China is expanding rapidly, with spending rising 60 per cent in the first half of the year, an industry body said on Wednesday....
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Suez-GDF merger creates energy giant
PARIS, July 16: A global energy giant emerged on Wednesday after shareholders in French groups GDF and Suez approved a tie-up despite domestic political opposition and misgivings by EU officials....
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Asian stocks close mixed
HONG KONG, July 16: Asian shares closed mixed on Wednesday as concern about US financial sector woe curbed bargain hunting despite an earlier stock market slide and a plunge in crude oil prices....
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Gold dips as dollar steadies
LONDON, July 16: Gold edged lower on Wednesday as the dollar steadied off the previous session’s lows, denting the precious metal’s appeal as a currency hedge, and as oil prices softened....
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Palm oil falls 2.6pc
KUALA LUMPUR, July 16: Malaysian crude palm oil futures lost 2.6 per cent on Wednesday as investors fretted over the lack of momentum in export growth while crude oil fell overnight....
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Karachi market rates
KARACHI, July 16: The following were Wednesday commodity market rates in rupees....
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