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| August 08, 2008 | Friday | Sha’aban 5, 1429 |
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New plants may halve generators import
KARACHI, Aug 7: Dealers expect a decline in generators’ import by at least 50 per cent in case the government succeeds in realisation of various power and alternative energy projects.... 
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BoE puts interest rates on ice
LONDON, Aug 7: The Bank of England froze British interest rates at 5.0 per cent on Thursday for the fourth month in a row as it mulled slowing economic growth and high inflation....
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ECB keeps rate steady on weak economy
FRANKFURT, Aug 7: The ECB recognised on Thursday that eurozone economic activity was weakening, but president Jean-Claude Trichet focused on inflation and signalled that the bank’s main lending rate would stay on hold....
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Sharp rise in sukuk issuance
RAWALPINDI, Aug 7: International Monetary Fund (IMF) has noted rapid growth of the Islamic finance sector in recent years, saying that a surge has been witnessed in the issuance of Islamic...
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KSE 100-share index recovers 28.47 points
KARACHI, Aug 7: Leading shares on the stock market on Thursday came in for modest fund buying under the lead of banking and oil sectors and ended higher, but the broader market stayed weak on fresh selling....
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Oil prices race towards $120
LONDON, Aug 7: World oil prices rebounded towards $120 on Thursday after news pipeline carrying crude from Central Asia to the West would remain shut for about 15 days after a recent explosion....
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Sugarcane output may drop by 40pc
KARACHI, Aug 7: Sugarcane production may drop by 40 per cent this year compared to last year owing to less area brought under cultivation, shortage of water and urea, and change in crop pattern....
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Rs1m reward for providing info on cartels
ISLAMABAD, Aug 7: The Competition Commission of Pakistan (CCP) will pay a reward of up to Rs1 million to a person, who will provide credible information leading to unmasking of any cartel activity....
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FPCCI flays demand to raise money rates
KARACHI, Aug 7: The Federation Pakistan Chambers of Commerce and Industry (FPCCI) has strongly reacted to the demand of commercial banks for further raise in interest rate....
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New PQA board okays tendering folly
KARACHI, Aug 7: The Port Qasim Authority (PQA) board of directors has approved the hiring of a tug and pilot boat badly needed for handling large size vessels during the monsoon season, official sources said....
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Treasury bills
KARACHI, Aug 7: The State Bank of Pakistan sold Rs8.3 billion of Treasury bills on Thursday under 2-day repo contracts at 9.90 per cent to mop up funds from the money market.—Reuters...
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Asean-India FTA talks conclude
JAKARTA, Aug 7: Difficult negotiations over an Asean-India free trade deal have been concluded and the last obstacles overcome, Association of Southeast Asian Nations (Asean) secretary general Surin Pitsuwan said Thursday....
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‘Govt to promote industry’
ISLAMABAD, Aug 7: Mian Manzoor Ahmad Wattoo, Advisor to Prime Minister on Industries, Production and Special Initiatives, said on Thursday that the government is committed to promoting industrial and manufacturing sectors....
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SEC unveils settlement with Citigroup
WASHINGTON, Aug 7: The Securities and Exchange Commission said on Thursday it had reached a multibillion-dollar settlement with US banking giant Citigroup regarding its marketing of complex debt securities....
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Karachi Port operations
KARACHI, Aug 7: Seven ships carrying base oil, containers and to load cement are due to arrive at the outer anchorage on Friday, according to KPT sources....
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Port Qasim
KARACHI, Aug 7: Five ships scheduled to load/offload containers, cement, chemicals and diesel oil were accommodated berths during the last 24 hours, said a PQA press release on Thursday....
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Reserves fall to $10.15bn
KARACHI, Aug 7: Pakistan’s foreign reserves fell by about $328 million to $10.159 billion in the week ending Aug. 2, the central bank said on Thursday....
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Exploration
SHANGHAI, Aug 7: China’s Sinochem Corp., a state-owned oil trading conglomerate, said on Thursday it has entered into an agreement to explore oil and gas in two blocks in Indonesia....
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Euro lower
LONDON, Aug 7: Trading in the euro against the dollar turned highly volatile on Thursday, with the single currency plunging, rallying and then falling again on comments from ECB head Jean-Claude Trichet....
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Corporate social forum formed
KARACHI, Aug 7: A roundtable of over 125 leaders from corporate, industry and chambers of commerce on “Social Enterprise — Beyond Philanthropy,” organised on Thursday by the Centre for International Private...
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Cotton prices higher as ginners continue strike
KARACHI, Aug 7: Cotton prices on the Karachi Cotton Exchange rose further higher on Thursday as ginners vowed to maintain unity on the issue of strike until their demands, notably renewal...
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US, Brazil to deepen energy cooperation
SAO PAULO, Aug 7: Brazil and the United States are seeking to deepen a partnership in energy, especially by promoting biofuels and other alternatives to oil, US Deputy Secretary of Energy Jeffrey Kupfer said here Wednesday....
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Asian stocks close mostly up
HONG KONG, Aug 7: Asian stocks closed mostly up on Thursday but the gains were generally modest and Japan fell nearly one per cent amid growing fears of recession in Asia’s biggest economy....
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Gold edges higher
LONDON, Aug 7: Gold edged higher in Europe on Thursday as the dollar softened against the euro ahead of a rate-setting meeting of the European Central Bank later in the session, and as oil prices rose....
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Palm oil rebounds
JAKARTA, Aug 7: Malaysian crude palm oil futures rose nearly 2 per cent on Thursday, lifted by a recovery in crude oil and rival soyaoil markets.Expectations...
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Karachi market rates
KARACHI, Aug 7: The following were Thursday commodity market rates in rupees....
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