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| November 25, 2008 | Tuesday | Ziqa'ad 26, 1429 |
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Steel bar prices drop by Rs7,000 per ton
KARACHI, Nov 24: The price of steel bars (sarya) plunged to Rs55,000-56,000 from Rs61,000-62,000 per tons two weeks back following cut in prices of billets by Pakistan Steel.... 
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KSE awaits funds; SECP trying to do needful
KARACHI, Nov 24: Efforts were being made to arrange funds and the process was under documentation, chairman, Securities and Exchange Commission of Pakistan (SECP), Mr Razi-ur-Rehman Khan, told Dawn on Monday evening....
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Japanese seek better port facilities
KARACHI, Nov 24: Japanese investors in Karachi want further improvement in port facilities, better and comfortable access to port from the city and night navigation at the Port Qasim where they...
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Taxation pact with Switzerland signed
ISLAMABAD, Nov 24: Pakistan and the Swiss Confederation on Monday signed a treaty for the avoidance of double taxation previously payable on the income of residents and businessmen of both the countries....
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Oil prices soar towards $55/barrel
LONDON, Nov 24: Oil prices roared higher towards $55 on Monday as equity markets surged on government action aimed at tackling a severe economic downturn....
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New regulations to facilitate growth of NBFCs
ISLAMABAD, Nov 24: While market players have to wait for some more time to see ‘floor’ from the KSE 100-share index removed, the Securities and Exchange Commission of Pakistan (SECP) on...
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Mixed response to IMF loan package
KARACHI, Nov 24: The expected IMF loan would not be a miracle for economy, but would certainly tighten ‘some loose ends’ at the cost of slowdown of economic growth, analysts and market sources said....
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US home sales slip
WASHINGTON, Nov 24: Existing US home sales fell 3.1 per cent in October as buyers remained on the sidelines amid economic uncertainty, the National Association of Realtors said on Monday....
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IDB to boost lending to offset crisis
CAIRO, Nov 24: The Saudi-based Islamic Development Bank is seeking resources to increase its lending next year to help majority-Muslim member states deal with the financial crisis, its president said....
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TCP handles 1.7m tons of wheat
KARACHI, Nov. 24: The Trading Corporation of Pakistan (TCP) has completed handling of 1.764 million tons of imported wheat and lifted almost the entire quantity of the grain....
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Euro gains vs dollar
LONDON, Nov 24: The euro strengthened on Monday as investors digested a massive bailout of US banking giant Citigroup and government action in Britain to bolster consumer spending in the face of a looming recession....
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KSE remains a deserted place for investors
KARACHI, Nov 24: The Karachi Stock Exchange remained a desolate place for investors as the ‘floor’ on the market remained firmly in place with no news of a possible breakthrough on Monday....
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Financial crisis spells rethink for Dubai Inc
DUBAI, Nov 24: Dubai, the Gulf city that rose to fame with projects such as the world’s tallest tower may have to rethink its ‘bigger, bolder, brasher’ model as the global crisis bites giving central stage back to Abu Dhabi....
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Malaysia cuts interest rate
KUALA LUMPUR, Nov 24: Malaysia’s central bank on Monday cut its interest rate by 25 basis points to 3.25 per cent in a bid to boost growth amid the global economic crisis....
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Slow trading activity in cotton
KARACHI, Nov 24: Slow trading activity was witnessed on the local cotton market owing to cautious buying by spinners amid slowdown in world economies....
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Fund to help Chinese SMEs
SHANGHAI, Nov 24: A Chinese industry association for small and medium-sized businesses said on Monday it plans to establish a three-billion-yuan ($440 million) venture capital fund for its members....
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German business confidence
FRANKFURT, Nov 24: Germany business confidence dropped in November to its lowest level in more than 15 years, a key index showed on Monday, after Europe’s biggest economy plunged into what could be a long recession....
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Opec needs further output cut, says Iran
TEHRAN, Nov 24: Iran believes the Organisation of Petroleum Exporting Countries should further slash output in the face of falling crude oil prices, a newspaper reported on Monday....
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Japanese investment
ALGIERS, Nov 24: Algeria’s Industry Minister Hamid Temmar called on Japanese companies to invest in the country in a speech on the opening day Monday of an Algerian-Japanese Forum in Algiers....
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Russian economy
MOSCOW, Nov 24, 2008: The Russian economy shrank 0.4 per cent in October from September, the ministry of economic development said on Monday....
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Gold hits 5-week high
LONDON, Nov 24: Gold prices jumped to a five-week high on Monday as investors piled in seeking safety from financial uncertainty after the United States unveiled a $300 billion rescue package for banking giant Citigroup....
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Asian stock markets lower
HONG KONG, Nov 24: Asian shares were lower on Monday as concerns persisted about the state of the global financial system, while traders seemed to ignore a multi-billion-dollar deal for ailing banking giant Citigroup....
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Malaysian palm oil up
JAKARTA, Nov 24: Malaysian palm futures closed nearly 2 per cent higher on Monday on hopes that demand will rise ahead of the Chinese New Year festival early next year, traders said....
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Karachi market rates
KARACHI, Nov 24: The following were Monday commodity market rates in rupees....
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