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| October 30, 2008 | Thursday | Shawwal 30, 1429 |
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No cut in steel prices despite global fall
KARACHI, Oct 29: Despite sharp fall in world steel prices Pakistan Steel Mills and importers of steel have not reduced prices of steel products, local auto vendors said.... 
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SBP sets up customer facilitation centres
KARACHI, Oct 29: The State Bank of Pakistan has established 17 customer facilitation centres at its head offices in Karachi while 16 field offices of the SBP Banking Services Corporation are entertaining public queries and complaints since Oct 27....
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No chance of default, says SBP governor
DUBAI, Oct 29: Pakistan is in no danger of defaulting on its debt and is still considering whether to expand on technical help from the International Monetary Fund, State Bank governor said on Wednesday....
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World food crisis renders 1bn people hungry
RAWALPINDI, Oct 29: The global food crisis has rendered nearly one billion people worldwide hungry, an independent UN expert said urging the issue to be viewed by governments through the lens of human rights....
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China may be asked to help boost IMF resource base
LONDON, Oct 29: With countries from Iceland to Hungary to Pakistan turning to the International Monetary Fund for a loan, British prime minister Gordon Brown has decided to call on China...
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Pakistan to cut diesel imports from Kuwait
SINGAPORE, Oct 29: Pakistan will cut term diesel imports from Kuwait to 200,000 tons for Nov to Dec supplies, down from an initial plan for 300,000 tons, an industry source familiar with the matter said on Wednesday....
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Ukraine passes bill on IMF loan
KIEV, Oct 29: Ukraine’s parliament on Wednesday gave the green light to anti-crisis laws aimed at releasing a massive emergency loan from the International Monetary Fund, with final approval expected on Thursday....
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Public entities borrow Rs58.8bn
KARACHI, Oct 29: Both the government and public sector enterprises (PSEs) made record borrowing during the three and a half months as it reached Rs271 billion and Rs58.8 billion, respectively....
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Oil prices surge by $4
LONDON, Oct 29: Oil prices jumped more than four dollars on Wednesday as traders took their direction from an impressive rally on global stock markets ahead of an expected US interest rate cut....
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0.4 million tons sugar shortage feared
KARACHI, Oct 29: The country is to face a shortfall of around 0.4 million tons of sugar during the next season (2008-09) because there will be around 20 to 30 per cent less production over previous year’s record output of 4.75...
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Euro stronger
LONDON, Oct 29: The euro rose strongly against the dollar on Wednesday as the market anticipated a sharp cut in US interest rates....
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Global luxury market hit by crisis
WASHINGTON, Oct 29: Even the wealthiest consumers are cutting spending in the face of the global economic turmoil, which will likely push the worldwide luxury retail market into recession in 2009, a survey showed on Wednesday....
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Stock market remains static
KARACHI, Oct 29: Trading on the stock market on Wednesday remained insipid as leading investors kept to the sidelines most of the time awaiting some positive developments on the liquidity front....
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Russian oil firm calls for ties with Opec
MOSCOW, Oct 29: Leading Russian oil firm Lukoil on Wednesday called for closer integration with Opec a week after President Dmitry Medvedev said cooperation with the oil cartel was a priority, news agencies reported....
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Cotton prices recover on strong mill buying
KARACHI, Oct 29: Cotton market on Wednesday showed firm trend as prices recovered sharply from the recent lows on strong mill buying amid fears of fresh increase if ginners opted for...
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Karachi Port operations
KARACHI, Oct 29: Six ships carrying imported wheat, and to load cement and molasses are expected to arrive at the outer anchorage on Thursday, according to KPT sources....
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Japanese IT firm to invest $50m
KARACHI, Oct 29: DTS Inc., a Japanese IT company, plans to invest $50 million in the next five years by setting up a call centre, data centre and Japanese language centre in Karachi....
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German inflation slows down for 3rd month
BERLIN, Oct 29: Falling oil and food prices helped cool German inflation for the third month in a row in October, giving the European Central Bank added scope to cut interest rates and bolster the broader euro zone economy....
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Port Qasim
KARACHI, Oct 29: Brisk shipping activity was witnessed at the port where four ships carrying containers, palm oil and iron ore were accommodated on berths at QICT, MP terminal and IOCB, respectively, during the last 24 hours....
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Gold steady in Europe
LONDON, Oct 29: Gold steady in Europe on Wednesday as traders awaited the Federal Reserve’s interest rates decision later in the day, but platinum slipped sharply on demand fears....
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Asian share markets mostly higher
HONG KONG, Oct 29: Asia’s stocks were mostly higher on Wednesday, led by a surge in Tokyo, as traders anticipated an interest rate cut in the United States and a similar move in Japan....
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Palm oil ends lower
JAKARTA, Oct 29: Malaysian palm oil futures finished lower on Wednesday amid worries that buyers will seek palm oil from rival Indonesia after Jakarta scrapped a tax on palm oil exports, traders said....
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Karachi market rates
KARACHI, Oct 29: The following were Wednesday commodity market rates in rupees....
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