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| October 19, 2008 | Sunday | Shawwal 19, 1429 |
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Rabi crops to get insurance cover: Natural calamities
KARACHI, Oct 18: Two government-owned financial institutions — National Bank of Pakistan (NBP) and National Insurance Company Limited (NICL) — are launching from next week the crop loan insurance scheme to provide cover for the rabi crops against natural calamities.... 
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‘Industries not to pay Sept power bills’
KARACHI, Oct 18: Industrialists and traders at a representative meeting in Karachi on Saturday decided with one voice to stop payment of the bills issued by the Karachi Electric Supply Corporation...
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Race begins to fetch deposits
KARACHI, Oct 18: The persistent liquidity crunch has forced banks to launch innovative products to attract deposits which are being withdrawn instead of keeping in banks....
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Fortnight phutti arrivals jump 29pc
KARACHI, Oct 18: Phutti arrivals into ginneries registered an increase of 28.94 per cent during the last fortnight, thereby keeping the hope of harvesting higher crop this season....
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Four mills plan early crushing in Sindh
KARACHI, Oct 18: Four sugar mills in Sindh are planning to start crushing from November 1 ahead of the official date (November 10) to grab maximum quantities of cane in view of 30 per cent short crop, growers said....
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Taxmen asked to ensure compliance
ISLAMABAD, Oct 18: Federal Board of Revenue chairman Ahmad Waqar has asked sales tax officials to follow a compliance module to ensure enforcement and services to the taxpayers....
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Iran to press for output cut at Opec moot
TEHRAN, Oct 18: Iran said on Saturday that Opec should cut oil output at its emergency meeting next week amid prospects of reduced demand in the face of the global economic slowdown, the state broadcaster reported....
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Govt to bear 75pc cost of upgrading fishing boats
KARACHI, Oct 18: The Karachi Fish Harbour Authority (KFHA) will be modifying around 200 large size boats to meet the European Union (EU) standards and specification by the end of this year....
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CFS rates plunge as fund demand dries up
KARACHI, Oct 18: The CFS MK-2 rates on the Karachi Stock Exchange last week suffered a sharp fall and were quoted around 53.47 per cent from the previous about 90 per cent owing to plunging demand for fresh credit lines....
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Passco to buy 1m tons rice from farmers
ISLAMABAD, Oct 18: Federal Minister for Food Agriculture and Livestock, Nazar Muhammad Gondal on Saturday directed the Passco to purchase one million tons of Irri-6 rice at Rs700 per 40 kg from farmers....
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ST returns date extended
ISLAMABAD, Oct 18: The Federal Board of Revenue (FBR) has extended till Oct 25 the due date for submission of sales tax and federal excise returns for September 2008....
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Opec to enter aggressive market management era
RIYADH, Oct 18: The Opec has been cornered into an emergency mode. The dramatically falling prices have compelled the oil cartel to bring the emergency meeting forward by almost three weeks....
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Layoffs spreading across corporate America
BOSTON, Oct 18: Shock waves from the global financial crisis are now being felt in almost every corner of working America as companies press the eject button on increasing numbers of employees....
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Falling EU currencies harm exports
KARACHI, Oct 18: The Pakistan Leather Garments Manufacturers and Exporters Association (Plgmea) has drawn the attention of the government towards persistent fall in the value of European currencies, particularly euro and...
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Cotton prices undergo modest recovery
KARACHI, Oct 18: The cotton market on Saturday resisted fresh fall as prices recovered from the overnight lower levels by Rs50 per maund partly in sympathy with strong rebound staged by the world markets....
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Russia’s good times fade as economy suffers
MOSCOW, Oct 18: After a decade of economic expansion, portents of a financial storm are gathering over Russia, from foundering banks to a Moscow skyline of idled construction cranes....
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Karachi port operations
KARACHI, Oct 18: A dozen ships including four cement loaders are due to arrive at the outer anchorage on Sunday, according to KPT sources....
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Port Qasim
KARACHI, Oct 18: Four ships scheduled to load/off-load containers, cement and palm oil were accommodated berths during the last 24 hours, said a PQA press release on Saturday....
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Global recession fears haunt commodity markets
LONDON, Oct 18: World commodity prices tumbled this week, with oil striking a 17-month low point under $66 a barrel in London, as fears of a global recession weighed on demand for raw materials....
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NY cotton sharply higher
NEW YORK, Oct 18: Cotton futures closed sharply higher for the second session running on Friday on investor and merchant buying, with brokers saying the surge should easily spill over into next week....
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‘China’s sovereign fund increases Blackstone stake’
BEIJING, Oct 18: China’s sovereign wealth fund has increased its stake in the US private equity firm Blackstone Group to more than 10 per cent, state media reported Saturday....
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Gold drops
NEW YORK, Oct 18: Gold prices dropped 2 per cent on Friday, concluding a volatile week of selling, as a lack of confidence in the financial system and a dollar rally triggered heavy liquidation by commodity funds....
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Dollar firms as investor overshadows weak data
NEW YORK, Oct 18: The dollar traded generally higher on Friday, with anxiety about the global financial crisis overshadowing the latest grim news on the US economy....
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French bank loses 600m euros in bad trades
PARIS, Oct 18: French bank Caisse d’Epargne said on Friday it lost around 600 million euros (800 million dollars) in a derivatives trading “incident” last week, prompting France’s president to warn heads must roll....
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Wall Street lower
NEW YORK, Oct 18: A strong rally that lifted Wall Street from last week’s multiyear lows has investors pondering whether the worst is now over for the stock market battered by its worst bear market in decades....
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Oil price rebounds
NEW YORK, Oct 18: Oil prices rebounded on Friday above $71 a barrel on speculation the OPEC crude producers’ cartel could cut production at an emergency meeting next week, traders said....
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Karachi market rates
KARACHI, Oct 18: The following were Saturday commodity market rates in rupees....
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