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| November 07, 2008 | Friday | Ziqa'ad 8, 1429 |
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Foreign banks struggle for survival
KARACHI, Nov 6: Managements are tightlipped, employees are fearful while reports showed that foreign banks, also operating in Pakistan are in deep trouble as some of them lost over 80 per cent of their market value.... 
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Workers oppose sale of Qadirpur Gas Field
ISLAMABAD, Nov 6: The Oil and Gas Development Company’s employees union has sought intervention of the prime minister and the president to stop privatisation of the Qadirpur Gas Field, which generates...
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Redemption of income funds may be suspended
KARACHI, Nov 6: Exactly a month after the suspension issuance and redemption of open-end mutual funds (including NIT) with direct exposure to equity securities, the Mutual Fund Association of Pakistan (Mufap)...
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IMF sees recession in advanced economies
WASHINGTON, Nov 6: The International Monetary Fund on Thursday forecast advanced economies would contract 0.3 per cent next year in the face of an escalating global financial crisis, the first such decline since World War II....
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ECB, BoE slash interest rates
FRANKFURT, Nov 6: The European Central Bank and Britain slashed their key interest rates on Thursday in a dramatic escalation of efforts to stave off recession, as the IMF predicted the US economy would shrink next year....
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Steps urged to check drugs smuggling
KARACHI, Nov 6: Multinational pharmaceutical companies offer a different view of the quantum of local drugs’ smuggling from Pakistan and one of the foreign companies’ executive estimates smuggling close to $150 million per annum....
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Oil may touch $200/barrel by 2030
LONDON, Nov 6: Oil prices will rebound to more than $100 a barrel as soon as the world economy recovers, and will exceed $200 by 2030, the Financial Times said on Wednesday quoting International Energy Agency report due next week....
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Oil price falls below $58
LONDON, Nov 6: Oil prices on Thursday tumbled under $58 a barrel, reaching the lowest level for nearly 21 months as recession fears gripped markets, traders said....
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Equities remain in unexciting mood
KARACHI, Nov 6: The share market on Thursday was in a terribly bad mood and failed to lure investors in its fold even at attractively lower levels as the focus remained on the advent of fund buying....
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Forex reserves
KARACHI, Nov 6: Pakistan’s foreign exchange reserves fell by $160 million to $6.76 billion in the week that ended on Nov 1, 2008, the central bank said on Thursday....
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Bullish trend continues on cotton market
KARACHI, Nov 6: The cotton prices maintained upward drive on Thursday as some of the fine lots were traded as higher at Rs3,300 per maund amid brisk mill buying....
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SLIC allocates Rs10.27bn for bonus to policyholders
KARACHI, Nov 6: The State Life Insurance Corporation of Pakistan (SLIC) has allocated Rs10.27 billion for bonus to policyholders and paid Rs6 billion on account of death and maturity of claims....
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Payment of support price to paddy growers urged
ISLAMABAD, Nov 6: Acting President Dr Fehmida Mirza on Thursday directed the Sindh government to ensure payment of support price of paddy fixed by the government to the growers....
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Karachi Port operations
KARACHI, Nov 6: Five ships carrying containers and imported wheat are due to arrive at the outer anchorage on Friday, according to KPT sources....
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Port Qasim removes one of four sinkers
KARACHI, Nov 6: The Port Qasim Authority has finally managed to remove one of the four sinkers settled at the bottom of the sea for the last 16 years and was...
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World stocks plunge on recession fears
LONDON, Nov 6: Global stock markets plunged on Thursday on growing fears the world economy faces a deep and long lasting recession as the financial crisis saps growth and dangerously weakens the banking system....
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Malaysian palm oil tumbles
KUALA LUMPUR, Nov 6: Malaysian crude palm oil futures slid 5.6 per cent on Thursday as commodity markets mostly drew back on worries of a deepening economic recession....
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Emaar Ceo
KARACHI, Nov 6: Emaar Pakistan, a subsidiary of Dubai-based Emaar Properties, has appointed Dr Dia Malaeb as new chief executive officer....
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Karachi market rates
KARACHI, Nov 6: The following were Thursday commodity market rates in rupees....
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