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| September 18, 2008 | Thursday | Ramazan 17, 1429 |
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Dollar scarcity threatens banks
KARACHI, Sept 17: The shortage of US dollars in the inter-bank market has led the rupee to fall to a record low, creating fears that banks might not be able to honour their foreign commitments.... 
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C/A deficit widens to $2.57bn in July-Aug
KARACHI, Sept 17: The current account deficit widened sharply to $2.572 billion in July and August, the first two months of the current fiscal year, the State Bank of Pakistan said on Wednesday....
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Cotton output to fall below 12m bales
ISLAMABAD, Sept 17: Pakistan’s cotton output in the 2008-09 is likely to be less than 12 million bales, falling short of a target of 14.1 million, officials and producers said on Wednesday, increasing the need for imports....
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Relief on import of diamonds
ISLAMABAD, Sept 17: The government has exempted customs duty on import of six kinds of precious stones....
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Oil prices up
LONDON, Sept 17: Oil prices rose on Wednesday but trimmed earlier gains as traders focussed on weak US crude inventories and a fresh outbreak of violence in key producer Nigeria....
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Aptma urged to submit proposals: Power tariff hike
ISLAMABAD, Sept 17: The first round of talks between the textile industry and the government on the issue of 31 per cent increase in electricity tariff remained inconclusive on Wednesday but...
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KPT asked to deepen fish harbour draft
KARACHI, Sept 17: The Sindh Fisheries Ministry has asked the Karachi Port Trust (KPT) to carry out dredging of Karachi Fish Harbour to deepen its draft from 2.7...
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Pakistan to dent Indian basmati exports
NEW DELHI, Sept 17: Indian basmati rice exports are expected to fall sharply as an export tax makes the grain more costly while its rival, Pakistan, gains from a steep fall in its currency, a top exporter said on Wednesday....
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Stocks extend overnight fall
KARACHI, Sept 17: Trading volume on the stock market on Wednesday fell to a second lowest single-session figure of 5.475m shares as investors played safe apparently awaiting the price freeze review and its expected lifting on Sept 25....
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Policyholders throng AIG’s Asian offices
SINGAPORE, Sept 17: Hund-reds of worried policyholders on Wednesday thronged Asian offices of troubled global insurance giant American International Group (AIG).In Singapore, hundreds lined up outside the company’s local headquarters while...
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US crisis risks global growth
WASHINGTON, Sept 17: The head of the IMF Dominique Strauss-Kahn on Wednesday warned that the crisis shaking US and global markets posed a potential risk for world economic growth....
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Dollar edges higher
LONDON, Sept 17: The dollar edged higher against the euro on Wednesday following US Federal Reserve decisions to leave the benchmark US interest rate unchanged and to launch a massive bailout for insurer AIG....
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Brisk cotton buying amid falling prices
KARACHI, Sept 17: Cotton market on Wednesday remained under pressure as lint prices were quoted further lower by Rs50 to Rs100 per maund owing partly to the weakness of the rupee...
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GCC okays plan for monetary council
JEDDAH, Sept 17: Finance chiefs of oil-rich Gulf states on Wednesday approved proposals to set up a monetary council and a draft charter for a monetary union, the Arab bloc’s secretary-general said....
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Russia suspends stock trading
MOSCOW, Sept 17: Russia suspended trading on its two main stock markets for the second day on Wednesday as shares nosedived and officials pledged $44 billion to fight collapsing investor confidence....
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Karachi Port operations
KARACHI, Sept 17: Three ships carrying containers and crude oil are due to arrive at the outer anchorage on Thursday, according to KPT sources....
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Port Qasim
KARACHI, Sept 17: Four ships scheduled to load/offload containers, cement and palm oil were accommodated berths during the last 24 hours, said a PQA press release on Wednesday....
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Asian stocks mixed despite early rises
HONG KONG, Sept 17: Asian stocks ended mixed on Wednesday following an early rally that was led by confidence after the US Federal Reserve bailed out troubled American Insurance Group (AIG)....
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Gold up in London
LONDON, Sept 17: Gold climbed on Wednesday, in tandem with other commodities, as the US Federal Reserve’s rescue of troubled insurer American International Group (AIG) gave battered financial markets a bit of a respite....
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India, Pakistan palm oil buyers stall in falling market
KUALA LUMPUR, Sept 17: Indian palm oil buyers tried to defer some shipments on Wednesday after a heavy sell-off in vegetable oil markets, while traders said Pakistan had yet to cover its needs for the fourth quarter....
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Karachi market rates
KARACHI, Sept 17: The following were Wednesday commodity market rates in rupees....
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