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| December 09, 2008 | Tuesday | Zilhaj 10, 1429 |
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Govt striving to settle Rs200bn circular debt
KARACHI, Dec 8: The government has planned to settle the circular debt which has reached about Rs200 billion, said official sources.... 
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Prices of Chinese toys rise by 25pc
KARACHI, Dec 8: The prices of Chinese toys have surged by 25-30 per cent in the local markets owing to sharp devaluation of the rupee against the dollar and increase in...
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Businessmen waiting for normalisation of ties: India-Pakistan
KARACHI, Dec 8: As politics plays itself on either side of Pakistan-India border, the business in both the countries drifts to sidelines to wait for normalisation of ties between the South...
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Goods from UAE to be physically examined
KARACHI, Dec 8: The customs authorities have put all consignments originating from the United Arab Emirates (UAE) under strict physical examination to check rampant mis-declaration and under-invoicing....
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Oil prices rebound
LONDON, Dec 8: Oil prices rebounded on Monday after slumping under $40 a barrel to near four-year lows before the weekend on news of massive job losses in the United States, the world’s biggest energy consumer....
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French bank rescue okayed
BRUSSELS, Dec 8: The European Commission approved on Monday French plans for recapitalising embattled banks, which had caused frictions between Brussels and Paris....
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Rural economy has growth prospects, says ADB report
RAWALPINDI, Dec 8: Pakistan’s rural economy from the perspective of agriculture sector is not lacking economic opportunities for growth and the supply potential and demand prospects for growth are in both...
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Poor’s cuts Russia credit ratings
MOSCOW, Dec 8: Standard and Poor’s on Monday lowered its credit ratings for Russia, citing concerns over capital flight from the country amid the global economic crisis....
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FPCCI presidential candidate
LAHORE, Dec 8: The presidential candidate for the top slot of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) from Sindh for the next two-year term will be named with consensus....
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Global stock markets rebound sharply
LONDON, Dec 8: Global stock markets rebounded sharply on Monday on hopes of fresh government action to fight a deepening recession in the wake of massive job losses in the world’s biggest economy, dealers said....
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Giant merger may face regulatory hurdles
NEW YORK/CHICAGO, Dec 8: The possible combination of exchange giants NYSE Euronext and Deutsche Boerse could unleash a wave of mergers as the industry prepares to tackle the over-the-counter market....
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German industrial output slumps
FRANKFURT, Dec 8: German industrial output slumped again in October, falling a much worse-than-expected 2.1 per cent from September, economy ministry figures showed on Monday....
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Asian stocks post sharp gains
HONG KONG, Dec 8: Asia’s stock markets rocketed on Monday, led by Hong Kong, as dealers followed a Wall Street rally on hopes of more stimulus measures for the US economy following poor jobs data last week....
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Two US companies announce job cuts
WASHINGTON, Dec 8: The Dow Chemical Company announced on Monday it would cut about 5,000 full-time jobs, close 20 facilities and divest non-strategic businesses in an aggressive move to cope with dire economic times....
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Denmark to enter recession in 2009
COPENHAGEN, Dec 8: The Danish government on Monday slashed its growth forecasts for 2008 and 2009, predicting that the economy would contract by 0.2 per cent in 2009 after growing 0.2...
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India’s car makers cut prices
MUMBAI, Dec 8: India’s leading carmakers, Maruti Suzuki India Ltd and the local unit of South Korea’s Hyundai Motors , said on Monday they had cut prices following a reduction in taxes....
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China mulls expanding fiscal deficit to boost growth
BEIJING, Dec 8: China is considering increasing the 2009 fiscal deficit by 56 per cent to help maintain growth amid the deepening global economic crisis, state media said....
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China auto sales fall in November
SHANGHAI, Dec 8: China’s passenger car sales fell 10.3 per cent in November from a year earlier as stalling economic growth sapped consumer confidence, state media reports said on Monday....
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German auto parts maker declares bankruptcy
FRANKFURT, Dec 8: A first German auto parts company declared bankruptcy on Monday, saying it was the result of slumping orders and restricted credit....
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Trichet warns of tough quarters to come
BRUSSELS, Dec 8: European Central Bank president Jean-Claude Trichet warned on Monday that the recession-hit eurozone faced several more tough months, in comments to the European Union parliament in Brussels....
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