|
| December 18, 2008 | Thursday | Zilhaj 19, 1429 |
|
Low tax-to-GDP ratio blamed for economic ills
LAHORE, Dec 17: Prime Minister’s Adviser on Finance Shaukat Tarin has said that the extremely low tax-to-GDP ratio is to be blamed for most of Pakistan’s economic woes, including the current... 
|
|
Major mutual funds to continue freeze
KARACHI, Dec 17: A majority of the equity funds would continue to exercise their right of freeze on issuance, valuation and redemption, various industry stalwarts said on Wednesday....
|
|
||
|
Afghanistan to join club of S. Asian states: Protocol ratified
ISLAMABAD, Dec 17: The government on Wednesday ratified a protocol to help Afghanistan join the club of South-Asian countries that may especially accelerate bilateral trade to more than $3 billion between the two countries in the next few years....
|
|
Chemical products plant opened
KARACHI, Dec. 17: A BASF plant to manufacture chemicals for the construction industry was inaugurated on Wednesday at Landhi by German Consul General in Karachi Dr Christian Brecht....
|
|
|
||
|
Market chaos deepens despite IMF’s approval for fund
KARACHI, Dec 17: The share market on Wednesday suffered fresh widespread decline for the third session in a row as investors continued to liquidate their long positions on the blue chip counters....
|
|
Private firms to protect ships in Gulf of Aden
KARACHI, Dec 17: While the UN is striving to curb piracy in the Gulf of Aden, private firms have jumped into the business to replace regular navies for safely escorting merchant ships....
|
|
|
||
|
No bailout for brokers, says Tarin
LAHORE, Dec 17: Prime Minister’s Adviser on Finance Shaukat Tarin says the Rs20 billion market support package is not meant for rescuing the leveraged positions of a few big and rich...
|
|
Banks shift to invest in T-bills
KARACHI, Dec 17: Banks have started shifting their investment to treasury bills, helping the government borrow from commercial banks....
|
|
|
||
|
IMF warns of global recession
WASHINGTON, Dec 17: The IMF on Wednesday urged action to stave off a global recession as a record slash in oil output by Opec and a Wall Street baron’s court appearance underlined the strains in the global economy....
|
|
Opec cuts output by 2.2mbd
ORAN (Algeria), Dec 17: Opec oil ministers agreed their deepest output cut ever on Wednesday, slashing 2.2 million barrels per day from oil markets in a race to balance supply with rapidly crumbling demand for fuel....
|
|
|
||
|
Active session on cotton market
KARACHI, Dec 17: Another active session was witnessed on the cotton market on Wednesday as spinners and mills continued to build-up long positions at the prevailing prices claimed to be in line with their export parity levels....
|
|
Karachi Port operations
KARACHI, Dec 17: Six ships carrying steel and general cargo and to load cement are due to arrive at the outer anchorage on Thursday, according to KPT sources....
|
|
|
||
|
Port Qasim
KARACHI, Dec 17: Two ships scheduled to load and offload containers and edible oil were allotted berths at the Qasim International Container Terminal and Multi-Purpose Terminal, respectively, during the last 24 hours....
|
|
Minfal denies urea shortage
ISLAMABAD, Dec 17: The government has said that there is sufficient stock of both urea and DAP in the country and 80 per cent of urea is being acquired from the domestic resources....
|
|
|
||
|
Investment Protection law on the cards
ISLAMABAD, Dec 17: Federal Minister for Investment, Senator Waqar Ahmad Khan said on Wednesday that government planned to bring a legislation through parliament for the protection of investments for next ten years in the country....
|
|
Century-oldWoolworths to close by next month
LONDON, Dec 17: Woolworths, a century-old British high street institution, will close all its stores at the start of next month, affecting the jobs of some 27,000 staff, the retailer’s administrators said on Wednesday.The...
|
|
|
||
|
Asian stocks rise on US rate cut
HONG KONG, Dec 17: Asian stocks saw modest gains on Wednesday as investors stayed cautious over the economic outlook despite the US Federal Reserve’s dramatic move to cut interest rates to near zero, dealers said....
|
|
Gold eases in Europe
LONDON, Dec 17: Gold edged down in Europe on Wednesday as traders took profits after the previous session’s 2 per cent gains on the back of a larger-than-expected interest rate cut from the US Federal Reserve....
|
|
|
||
|
Malaysian palm oil rises
JAKARTA, Dec 17: Malaysian palm futures rose more than 2 per cent on Wednesday, boosted by a rally in crude oil, sparked by expectations OPEC will agree a deep cut in oil output to rescue prices....
|
|
Karachi market rates
KARACHI, Dec 17: The following were Wednesday’s commodity market rates in rupees....
|
|
|
||
