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| October 05, 2008 | Sunday | Shawwal 5, 1429 |
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Panel to finalise strategy before Abu Dhabi moot
KARACHI, Oct 4: The advisory panel of Pakistan’s senior economists constituted by the Planning Commission a few weeks ago is holding its second marathon session from Monday at Lahore to finalise... 
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Rs422m milk scheme approved
KARACHI, Oct 4: The Provincial Development Working Party (PDWP) has approved a Rs422 million scheme for provision of chilling tanks and other allied equipment for milk collection centres to be set up in the province....
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IMF chief urges Europe to take a united stand
PARIS, Oct 4: The head of the International Monetary Fund (IMF) urged European leaders on Saturday to agree a coordinated approach to deal with the worst financial crisis since the 1930s....
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FBR issues notices for payment of levy: Exporters resent move
KARACHI, Oct 4: The Federal Board of Revenue (FBR) has issued notices to exporters for the recovery of millions of rupees outstanding towards Workers Welfare Fund (WWF)....
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Iran terms oil under $100 unsuitable
TEHRAN, Oct 4: Iranian Oil Minister Gholam Hossiein Nozari said on Saturday that an oil price of less than $100 for a barrel is “unsuitable” either for producers or for consumers.”...
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US to lift ban on short-selling
WASHINGTON, Oct 4: The US Securities and Exchange Commission said on Friday it would lift its temporary order banning short selling of financial shares next Thursday....
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US bailout is not enough to arrest fading oil demand
RIYADH, Oct 4: Fears of global economic meltdown now under the total control of the oil markets. Crude prices continue to slump on falling demand - with US oil demand in...
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World leaders welcome bailout package
PARIS, Oct 4: Leaders of some of the world’s biggest economies on Saturday welcomed US lawmakers’ approval of a $700 billion Wall Street rescue plan, calling it a responsible and necessary measure....
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Key points of rescue plan
Introduction of the rescue plan will be phased, beginning with an initial authorisation for the US Treasury to purchase immediately up to $250 billion in “troubled assets.”...
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9 US airlines outsource 70 per cent maintenance
WASHINGTON, Oct 4: Nine US airlines outsourced more than 70 per cent of their major aircraft maintenance last year, according to a government report....
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US debt set to soar, says rating agency
NEW YORK, Oct 4: Combined US government debt is set to rise to levels unseen since the 1950s, but the US should nevertheless be able to hold onto its AAA credit rating, the Fitch ratings agency said....
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First gas production in Iraq’s Kurdish area
BAGHDAD, Oct 4: Two United Arab Emirates-based energy companies announced on Saturday that they have begun producing natural gas in Iraq’s Kurdish area....
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Plan will put economy on road to recovery: Bush
WACO, Oct 4: US President George W. Bush on Saturday praised legislators from both major parties for approving the $700 billion financial system bailout package, but warned that relief would not be instant....
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China hopes bailout to stabilise markets
BEIJING, Oct 4: China hopes a historic $700 billion US government bailout of the financial industry will help stabilise global markets and restore investor confidence, the central bank said in a notice on its Website on Saturday....
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AIG to sell 3 Japanese insurance units
TOKYO, Oct 4: Embattled insurer American International Group Inc. said it will sell three of its Japanese life insurance businesses. As part of its effort to pay off a massive US...
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European firms attend Iran gas conference
TEHRAN, Oct 4: A natural gas conference sponsored in part by two of Europe’s largest energy companies opened on Saturday in Tehran....
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Oil, gas deal
YANGON (Myanmar) Oct 4: A Vietnamese company has signed a deal to explore for offshore oil and gas in Myanmar, a state news report said on Saturday....
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Australia hails package
SYDNEY, Oct 4: Australian Prime Minister Kevin Rudd said on Saturday that approval by the US Congress of a massive financial sector rescue package would help restore global stability....
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Karachi market rates
KARACHI, Oct 4: The following were Saturday commodity market rates in rupees....
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Dutch govt buys Fortis local operations
THE HAGUE, Oct 4: The Netherlands government nationalised the Dutch activities of embattled Belgian-Dutch banking group Fortis with a euro 16.8 billion lifeline to help ease pressure on the financial system....
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Credit crisis hitting Brazil
SAO PAULO, Oct 4: The global financial crisis is hitting Brazil’s internal credit market and will slow growth in Latin America’s biggest economy next year, Brazilian Finance Minister Guido Mantega said on Friday....
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Cloud lifts, but Wall Street still grim
NEW YORK, Oct 4: A brutal week on Wall Street ended with the approval of a massive US government lifeline for the troubled financial sector, but investors are still searching for a reason to cheer....
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Dollar gets no kick from economic plan
NEW YORK, Oct 4: The dollar held in a narrow range against the other main currencies Friday as traders tried to gauge the impact of a massive financial sector bailout and digested news of bigger-than-expected US job losses....
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New York cotton settles lower
NEW YORK, Oct 4: Cotton futures ended lower on Friday on light investor sales as jittery players dumped fiber contracts while digesting the impact of a $700 billion rescue package approved by the US Congress, brokers said....
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US oil prices fall
NEW YORK, Oct 4: Oil prices closed little changed on Friday after the US Congress approved a $700-billion bailout plan for the financial sector, helping recoup recent falls....
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Gold trims loss
NEW YORK, Oct 4: Gold held onto moderately lower levels after the US House of Representatives voted to pass a $700 billion bill to bail out the US financial system, despite a slide in the dollar against the euro....
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Angola plans to bring down inflation
LUANDA, Oct 4: Angolan President Jose Eduardo dos Santos has pledged named development as a top priority for the oil-rich nation alongside double-digit growth and lowering inflation, state media reported on Saturday....
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Commodity prices tumble
LONDON, Oct 4: Commodity prices slumped across the board this week as markets were roiled by growing anxiety over whether an emergency US bailout of ailing banks will get through Congress....
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