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| August 26, 2008 | Tuesday | Sha'aban 23, 1429 |
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Millers resent delay in wheat issue price
KARACHI, Aug 25: With Ramazan only a week away the Sindh government has neither announced the issue price nor quota allocation policy for release of wheat from its stocks to flour mills in the city.... 
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Intervention in bourses ruled out
ISLAMABAD, Aug 25: Securities and Exchange Commission of Pakistan Chairman Raziur Rehman on Monday said that there was no need to intervene in the stock markets which recorded a historic decline recently....
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Rupee hits record low at 76.70
KARACHI, Aug 25: The rupee marked a record closing low on Monday on investors’ fears about persistent political tension and a weak economic outlook would drag on the currency in coming weeks....
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SECP chief tenders resignation
ISLAMABAD, Aug 25: Securities and Exchange Commission of Pakistan Chairman Raziur Rehman has sent his resignation to the Finance Ministry after realising that working with the new coalition government would be...
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Aptma seeks waiver from tariff hike
KARACHI, Aug 25: All Pakistan Textile Mills Association chairman Iqbal Ibrahim has sought exemption for all export-oriented textile units from the hike in electricity tariff being proposed by the National Electric...
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NBP profit falls by 13pc
KARACHI, Aug 25: The National Bank of Pakistan (NBP) on Monday announced that its profit had declined by 13 per cent on year-on-year basis mainly because of higher provisioning and write offs....
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China mulls $54 billion stimulus plan
SHANGHAI, Aug 25: China is considering a $54 billion stimulus plan involving tax cuts and government spending, state media said on Monday, in another sign that boosting the economy is becoming a priority....
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FPCCI backs Zardari as president
KARACHI, Aug 25: The business community has extended full support to the Pakistan People’s Party (PPP) co-chairman Asif Ali Zardari as a candidate for the office of the president....
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Date for e-filing of returns extended
ISLAMABAD, Aug 25: The Federal Board of Revenue (FBR) has extended the date for online submission of sales tax and federal excise return for the tax period July 2008 up to August 31....
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Oil prices up
PARIS, Aug 25: Oil prices rose slightly on Monday after a sharp fall, despite the firming of the dollar, amid reports of the hijacking of a ship in the southern delta region of major producer Nigeria....
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Iran says new oil and gas deals more attractive
TEHRAN, Aug 25: Iran’s revised oil and gas development contracts offer more incentives to foreign firms and Turkey’s reservations about the deals reflect an initial lack of knowledge, the Iranian oil minister said on Monday....
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US home sales rise
WASHINGTON, Aug 25: US sales of existing homes rose in July to a five-month high but the glut of unsold homes hit a record high, according to industry data on Monday that suggests the housing market remains in crisis....
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Dollar down against major units
NEW YORK, Aug 25: The US dollar was down against the yen on Monday, dropping as US financial shares dragged equity markets lower on persistent credit concerns, which prompted investors to reduce risk....
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Gas discovery
ISLAMABAD, Aug 25: Oil and Gas Development Company Limited (OGDCL) has discovered oil and gas in the exploratory well Kunnar South Well No 1 (Zone 2), located in district Tando Allah Yar....
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Stocks extend losses, volume shrinks to 87m
KARACHI, Aug 25: The stock market on Monday extended overnight losses as leading shares fell further on renewed selling amid the turnover plunging below the 100 million shares at 87m....
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Cotton prices fall on panic-selling
KARACHI, Aug 25: Brisk activity was witnessed on the cotton market on Monday as spinners and mills lifted all the lots offered by the ginners at the lower rates....
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Karachi Port operations
KARACHI, Aug 25: Three ships carrying containers and coal are due to arrive at the outer anchorage on Tuesday, according to KPT sources....
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Port Qasim
KARACHI, Aug 25: Four ships carrying containers, carbon oil and project cargo were accommodated berths on Sunday, said a PQA press release on Monday....
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Kuwait pumps 2.5 mbpd oil
KUWAIT, Aug 25: Kuwait is pumping around 2.5 million barrels per day (bpd) of crude oil and aims to boost capacity to three million bpd in the first half of 2009, a top oil official said on Monday....
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Toyota hikes prices for first time in 30 years
TOKYO, Aug 25: Toyota Motor Corp. said on Monday that it will raise the prices of some passenger cars in Japan for the first time in three decades in response to skyrocketing steel costs....
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Russia to cut oil export duty
MOSCOW, Aug 25: Russia is likely to slightly cut the oil export duty for October-November from the current record level following the recent fall in global oil prices, a Finance Ministry official said on Monday....
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Asian stocks close mostly up
HONG KONG, Aug 25: Asian shares closed mostly up on Monday, led by a 3.5-per cent jump in the Hong Kong stock market, as a rally on Wall Street at the end of last week lifted spirits....
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Gold ends lower
SINGAPORE, Aug 25: Gold fell 1.2 per cent on Monday, losing some of its safe-haven appeal as the US dollar strengthened against other currencies, while weaker oil prices also prompted investors to ditch their bullion holdings....
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Malaysian palm oil slides
KUALA LUMPUR, Aug 25: Malaysian crude palm oil futures could slide as far as 2,200 ringgit per ton before triggering fresh demand, as ideal weather extends the main growing season, a leading industry analyst said on Monday....
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Karachi market rates
KARACHI, Aug 25: The following were Monday commodity market rates in rupees....
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