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| November 14, 2008 | Friday | Ziqa'ad 15, 1429 |
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Interest rate hike to hit industry, say businessmen
KARACHI, Nov. 13: Pakistan’s industrial landscape may soon be marked with dead and sick units and there would be massive unemployment because of the “devastating impact” on businesses from increase in interest rate on bank loans.... 
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Banks warned against changing spreads on loans
KARACHI, Nov 13: Banks and Development Financial Institutions (DFIs) have been found increasing the interest rate fixed at the time of loan agreement....
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NJI Kashtkar crop insurance for Rabi
KARACHI, Nov 13: New Jubilee Insurance Company is going ahead with implementation of a broad based NJI Kashtkar crop insurance scheme with the commencement of Rabi borrowing on directive of the government and State Bank of Pakistan....
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Stock indices break inertia on likely removal of ‘floor’
KARACHI, Nov 13: The KSE 100-share index on Thursday at last broke through the vicious circle of an intriguing status quo after several weeks and was quoted fractionally higher aided by...
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Banks assure smooth credit flow to industry
KARACHI, Nov 13: Both the State Bank and commercial banks have assured smooth flow of credit to meet the demand of trade and industry as the liquidity shortage is still a major problem that hurts the business community....
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KSE sells one defaulter member card for Rs55m
Karachi, Nov 13: The Karachi Stock Exchange on Thursday disposed of the membership card of one of the two defaulter brokers at a price of Rs55 million....
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Saudi govt to buy 1m tons of rice
LAHORE, Nov 13: Saudi Arabia has shown interest in buying one million tons of rice from Pakistan and the government has pushed Pakistan Agriculture Services and Storage Corporation (Passco) in the procurement drive to create exportable stocks....
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Oil prices rise ahead of Opec moot
LONDON, Nov 13: Oil prices rose on Thursday after an Opec source said the oil producers cartel was “very likely” to hold an emergency output meeting later this month....
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Kuwaiti court Suspends stock trading
KUWAIT CITY, Nov 13: A Kuwaiti court on Thursday ordered the suspension of transactions at the Kuwait Stock Exchange till a legal case filed by some stockbrokers to check the losses at the exchange was considered....
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Eurozone
BRUSSELS, Nov 13: The 15-nation eurozone’s plunge into recession is expected to be made official on Friday, with a string of economic indicators pointing downwards and European governments struggling for a unified response....
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KESC posts Rs16bn loss in 2008
KARACHI, Nov 13: The Karachi Electric Supply Company (KESC) suffered a pre-tax loss of Rs15.752 billion for the year ended June 30, 2008 after meeting all operational and administration costs, including depreciation and tariff subsidy from the government....
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Karachi Port operations
KARACHI, Nov 13: Six vessels, including a car carrier and to load clinker are due to arrive at the outer anchorage on Friday, according to KPT sources....
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Cotton prices resist fresh fall on strong mill buying
KARACHI, Nov 13: Cotton market on Thursday remained under pressure on renewed ginners’ selling but larger fall was resisted followed by strong covering purchases made by a leading spinner group, floor brokers said.Although...
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Special economic zone for Japanese firms
ISLAMABAD, Nov 13: Pakistan has offered to set up a special economic zone in south of the country for Japanese companies....
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Pakistan, India asked to sign bilateral investment treaty
ISLAMABAD, Nov 13: The Saarc Chamber of Commerce and Industry (SCCI) has stressed upon the governments of Pakistan and India to sign bilateral investment treaty to foster economic cooperation between the two countries....
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TCP urged to start lint purchase
MULTAN, Nov 13: Discontinuation of bank limits and advances has exposed ginners to cash problems and they want the Trading Corporation of Pakistan (TCP) to begin lint purchase immediately to enable them buy Phutti from growers....
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OICCI clarification
KARACHI, Nov 13: Only 18 foreign companies in Pakistan may wind up their businesses because of persisting law and order problem, and not 18 per cent of the 175 members of the Overseas Chambers of Commerce and Industry (OICCI).....
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Japan set to offer $100bn to help emerging economies
TOKYO, Nov 13: Japan is ready to lend $100 billion to help emerging nations battered by the financial crisis, reports said Thursday, as a central banker warned Asia’s largest economy also faces a long slump.Prime...
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US external trade squeezes sharply
WASHINGTON, Nov 13: The global financial implosion took a heavy toll on US trade in September, hitting both imports and exports, according to a government report Thursday underlining the world’s economic woes....
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Global stocks fall as Germany slips into recession
LONDON, Nov 13: Global stock markets mostly fell on Thursday on news that the German economy was officially in recession and after heavy losses in Asia and overnight on Wall Street....
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HK gold lower
HONG KONG, Nov 13: Hong Kong gold prices closed lower on Thursday at US$713.00-714.00 an ounce, down from Wednesday’s close of 735.00-736.00 dollars.It opened at $713.50-714.50.—AFP...
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Forex reserves
KARACHI, Nov 13: Pakistan’s foreign exchange reserves fell by $20 million to $6.74 billion in the week that ended on Nov 8, the central bank said on Thursday....
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Asian stock markets tumble
HONG KONG, Nov 13: Asian shares tumbled on Thursday as the US government abandoned moves to buy up billions of dollars in toxic mortgage debt at the centre of the global credit crisis and amid global recession fears....
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Palm oil prices lower
JAKARTA, Nov 13: Malaysian palm oil futures closed nearly 4 per cent lower on Thursday, but were off lows on short-covering after crude oil recovered some losses, traders said....
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Gold firms in Europe
LONDON, Nov 13: Gold firms hit by the credit crisis and weak gold prices are keen for mergers with bigger rivals, but consolidation will likely have to wait until volatile share prices stabilise, company officials said on Thursday....
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Karachi market rates
KARACHI, Nov 13: The following were Thursday commodity market rates in rupees....
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