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| October 07, 2008 | Tuesday | Shawwal 7, 1429 |
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KSE buys time for ‘floor’ removal
KARACHI, Oct 6: Shaukat Tarin, the man tipped to be the advisor-in-waiting on finance to the prime minister, said on Monday that given the option, he would leave the stock market to itself.... 
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Rupee sinks to record low
KARACHI, Oct 6: Import payments drove rupee to a record low of 78.65 to the dollar in early trade on Monday....
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SBP injects Rs54bn into banking system
KARACHI, Oct 6: The State Bank of Pakistan on Monday injected Rs54 billion into the banking system to save it from the extreme credit crunch and unexpected high call money rates, ranging from 32 to 40 per cent....
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Sugar may become more costly
KARACHI, Oct 6: Sugar mills have cautioned that there may be an expected increase in sugar prices owing to upward revision in the minimum support price of sugarcane for the season 2008-09....
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Revenue collection up 23.5pc
ISLAMABAD, Oct 6: The revenue collection rose 23.5 per cent during the first quarter (July-Sept) of 2007-08 over the same period last year, the Federal Board of Revenue said on Monday....
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Poor’s cuts Pakistan’s debt rating
HONG KONG, Oct 6: Standard & Poor’s cut Pakistan’s sovereign rating further into junk territory, saying the country’s worsening external liquidity may imperil its ability to meet about $3 billion in upcoming debt obligations....
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Govt borrowing rises by 100pc
KARACHI, Oct 6: Government borrowing rose over 100 per cent in the first 11 weeks of the current fiscal year, State Bank of Pakistan data showed....
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Euro tumbles versus dollar
LONDON, Oct 6: The euro plunged to fresh lows against the dollar on Monday as European leaders scrambled to limit the impact of a growing financial crisis on the eurozone banking system....
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Oil prices fall below $90
LONDON, Oct 6: Crude oil prices slumped to eight month low points below $90 a barrel on Monday as worsening financial turmoil triggered fears about slowing demand for energy, traders said....
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Stocks stay flat amid economic worries
KARACHI, Oct 6: The trading on the stock market on Monday resumed on a dull note as investors were worried over the global financial crisis and its possible fallout on the...
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Prices fall further on cotton market
KARACHI, Oct 6: Trading on the cotton market on Monday resumed on a bearish note owing to negative fallout of the crisis on the world markets amid worries about the US...
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US ratifies treaty on trademarks
KARACHI, Oct 6: The Director General of the World Intellectual Property Organisation (WIPO) Francis Gurry has welcomed the ratification by the US of the Singapore treaty on the Law of Trademarks that streamlines and modernises certain trademark office procedures....
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Fed, Treasury take steps to confront crisis
WASHINGTON, Oct 6: The Federal Reserve and the US Treasury announced measures on Monday to confront a rapidly escalating financial crisis under new emergency powers....
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Ban on some imports urged to save dollars
KARACHI, Oct 6: A former president of the Federation of Pakistan Chambers of Commerce and Industry Tariq Sayeed has demanded an immediate ban, for at least next six months, on import...
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Govt urged to focus on SMEs
KARACHI, Oct 6: The small and medium enterprises (SMEs) can bail out the country from the present economic crisis as the large scale manufacturing sector has not been vibrant....
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SBP prints Rs69bn notes
KARACHI, Oct 6: The State Bank of Pakistan printed fresh currency notes worth Rs69 billion during Ramazan for general public. The figure was, however, less than the previous last year, said the SBP on Monday....
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Textile institute
KARACHI, Oct 6: S M A Rizvi has been unanimously elected chairman of the SMA Rizvi Textile Institute, a joint venture of Towel Manufacturers Association of Pakistan and the government of Pakistan....
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WWF levy
KARACHI, Oct 6: The Korangi Association of Trade and Industry (Kati) has strongly condemned notices issued by the FBR to exporters for the recovery of millions of rupees dues towards the Workers Welfare Fund (WWF)....
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Company news
KARACHI: JCR-VIS Credit Rating Company Limited has upgraded the Insurer Financial Strength (IFS) rating of the Pakistan General Insurance Company Limited (PGICL) from ‘BB+’ (Double B Plus) to ‘BBB’ (Triple B)....
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Gold climbs nearly 5pc as investors seek safety
LONDON, Oct 6: Gold prices rose nearly 5 per cent on Monday, leading other precious metals higher, as a slide in stock markets sparked a flight to safety....
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Asian stocks plummet on fears for global economy
HONG KONG, Oct 6: Asian shares tumbled on Monday, with Japan at a four-year low, as dealers feared for the health of the global economy despite a Wall Street bailout and as the credit crisis bites deeper in Europe....
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India central bank cuts cash ratio
MUMBAI, Oct 6: India’s central bank injected liquidity into the financial system by cutting the amount of cash commercial banks must hold in reserve, citing “a sharp deterioration” in the world financial situation....
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Karachi market rates
KARACHI, Oct 6: The following were Monday commodity market rates in rupees....
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