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| August 19, 2008 | Tuesday | Sha'aban 16, 1429 |
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Trade greets Musharraf’s exit with cautious optimism
KARACHI, Aug 18: Not unexpected for few, but pleasantly surprising for many, the rather abrupt appearance of President (retd) General Pervez Musharraf on television screen on Monday high noon, to announce... 
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New taxes on luxury imports being finalised
ISLAMABAD, Aug 18: The Economy Monitoring Committee (EMC) directed the ministry of commerce and the Federal Board of Revenue (FBR) on Monday to firm up their recommendations to impose new taxes on import of non-essential and luxury goods....
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Dollar loses 4pc against rupee
KARACHI, Aug 18: The resignation of former President Pervez Musharraf injected a sudden strength to the rupee which appreciated by over four per cent against the US dollar in open market on Monday....
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NWFP traders expect economic recovery
PESHAWAR, Aug 18: The business community in the NWFP on Monday welcomed the resignation of President Pervez Musharraf, saying it will help the ailing national economy to recover....
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Grocers see no instant relief for consumers
KARACHI, Aug 18: Small traders and businessmen are not, too, optimistic about the economic stability in the short run after the exit of President Pervez Musharraf from the political scene on Monday....
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Balochistan business welcomes change
QUETTA, Aug 18: The business community of Balochistan on Monday welcomed the resignation of President Musharraf, and expressed the hope that the political government would take measures to improve the ailing national economy....
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Senate body opposes power tariff hike
ISLAMABAD, Aug 18: A Senate committee on Monday opposed the government’s plan to increase power tariff and called for enhancing hydroelectric power generation capacity on war-footing....
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MEP on rice may go
SINGAPORE, Aug 18: Pakistan is likely to remove a minimum export price (MEP) of $750 per ton imposed on non-basmati rice to boost overseas sales after forecasts of a bumper harvest, a top industry official said on Monday....
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Oil prices ease
LONDON, Aug 18: Oil prices dipped on Monday, reversing gains made earlier in the day, as Royal Dutch Shell said Tropical storm Fay would likely spare the Anglo-Dutch group’s energy facilities in the Gulf of Mexico....
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Textile exporters pin hopes on coalition
FAISALABAD, Aug 18: Industrialists and textile exporters pin hope on the coalition government for solution of their problems as they feel the resignation of President Musharraf will end uncertainty persisting in the country after February elections....
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Stocks gain 460.91 points on resignation
KARACHI, Aug 18: The stock market on Monday welcomed President Pervez Musharraf’s resignation amid buying euphoria, lifting the Karachi Stock Exchange (KSE) 100-share index by 4.49...
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Prices ease slightly on cotton market
KARACHI, Aug 18: Cotton prices eased modestly from the recent higher levels on Monday in line with the strong recovery of 1.6 per cent by the rupee against the dollar after the resignation of President Pervez Musharraf....
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US power output down
HOUSTON, Aug 18: US power generation in the week ended Aug 21 was down 6.88 per cent from the week before and down 8.11 per cent from the same week a year ago, Genscape said on Monday.Milder...
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Energy audit of textile mills: 2nd phase launched
LAHORE, Aug 18: The All Pakistan Textile Mills Association (Aptma) in association with the National Productivity Organisation (NPO) on Monday launched the second phase of energy audit of textile mills under the energy conservation programme for the textile industry....
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Consortium plans $1.8bn US oil import terminal
NEW YORK, Aug 18: A consortium of oil pipeline and storage companies plans to invest $1.8 billion to build the US second deepwater oil import terminal in Texas, the companies said on Monday....
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SRO issued
ISLAMABAD, Aug 18: The government has exempted five per cent customs duty on import of mineral oil for agriculture sector....
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Siemens restructures worldwide operations
KARACHI, Aug 18: Siemens AG, the world’s largest engineering company, is restructuring its worldwide operations to focus on three sectors - industry, energy and healthcare....
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Poultry rates
KARACHI, Aug 18: The following were wholesale poultry prices on Monday....
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Palm oil prices jump
KUALA LUMPUR, Aug 18: Malaysian crude palm oil futures rose 1.4 per cent on Monday, bouncing off one-year lows hit earlier in the session as investors were torn between firmer commodity prices and talk that Asia buyers will default cargoes....
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Asian stocks close mostly down
HONG KONG, Aug 18: Asian shares closed mostly down on Monday on deepening concern about slowing economic growth, with the Chinese stock market plunging more than five per cent....
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Opec may cut output
LONDON, Aug 18: The Organisation of Petroleum Exporting Countries may decide to cut the cartel’s oil output quota as the price of crude risks falling under $100 a barrel, energy consultancy CGES said on Monday....
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Appointed
KARACHI, Aug 18: Mr Farrukh Abbas has been appointed to head Pakistan’s operations of Abraaj Capital, a private equity company in Middle East and North Africa, a press release on Monday said....
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