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| December 20, 2008 | Saturday | Zilhaj 21, 1429 |
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Sindh used 92pc of development funds in FY08
KARACHI, Dec 19: Sindh’s political leadership and bureaucrats at the provincial and district levels have shown the amazing capacity of utilising more than 92 per cent of the allocated Rs50 billion development funds during the year 2007-08.... 
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S&P raises Pakistan’s rating to CCC-plus
HONG KONG, Dec 19: Standard & Poor’s Ratings Services raised Pakistan’s sovereign rating to CCC-plus from CCC, citing stability in its external financial position after the International Monetary Fund disbursed its first loan tranche....
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Non-textile exports up 36pc in five months
ISLAMABAD, Dec 19: The export of traditional products soared by 36 per cent in the first five months of the current fiscal year over the last year on the back of...
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Market committee functions to be privatised
KARACHI, Dec 19: The Sindh government plans to privatise functions of market committees to regulate marketing of fruits and vegetables to safeguard interests of traders, growers and exporters....
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New plant
KARACHI, Dec 19: Adviser to the prime minister on finance Shaukat Tarin presided over the ground breaking of P&G’s second manufacturing facility in Pakistan at a formal ceremony held at Port Qasim Authority on Friday....
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Stocks receive fresh massive pruning
KARACHI, Dec 19: Stocks finished the weekend session on a slightly improved note as the targeted selling seemed to have lost its intensity paving the way for stray short-covering at the lower levels....
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SBP launches facilities for microfinance sector
KARACHI, Dec 19: The State Bank of Pakistan on Friday launched initiatives for development of microfinance, with 50 million pounds of UK government and $20 million of Asian Development Fund....
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Oil import bill rises by 45pc in five months
ISLAMABAD, Dec 19: Pakistan’s oil import bill edged up to highest level by 45.36 per cent during the first five months of the current fiscal year over last year despite the fact that the oil prices plunged at international level....
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Euro joins ACU mechanism to speed up clearance
KARACHI, Dec 19: The State Bank of Pakistan on Friday announced inclusion of euro in the Asian Clearing Union mechanism....
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Slow buying after surge in phutti arrivals
KARACHI, Dec 19: Physical activity on the cotton market on Friday slowed down as spinners and mills had an overview of the future supply situation in the backdrop of latest phutti arrival figures....
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Oil producers, consumers seek price stability
LONDON, Dec 19: The world’s biggest oil producers and consumers called on Friday for cooperation to prevent extreme volatility in oil prices and help guarantee future energy supplies....
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Karachi Port operations
KARACHI, Dec 19: Five ships including a car carrier and with fertiliser are due to arrive at the outer anchorage on Saturday, according to KPT sources....
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11 global banks get ratings downgraded
WASHINGTON, Dec 19: Global ratings agency Standard & Poor’s lowered the credit ratings of 11 international banks by one or two notches on Friday on uncertainty over future performances amid financial turmoil....
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Asian stock markets mixed
HONG KONG, Dec 19: Asian shares were mixed on Friday, with Tokyo and Hong Kong falling on deep economic concerns, despite Japan cutting its key interest rate to nearly zero to tackle a recession, dealers said....
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Gold dips in Europe
LONDON, Dec 19: Gold dips more than 2 per cent in thin volumes on Friday as the euro lost ground against the dollar and bullion’s recent rally slowed the pace of physical purchases, traders and analysts said....
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Palm oil prices lower
JAKARTA, Dec 19: Malaysian palm futures dropped for second day to its weakest level in two weeks, after crude oil touched fresh 4-1/2 year low as demand gloom offset Opec’s record supply cut....
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Karachi market rates
KARACHI, Dec 19: The following were Friday’s commodity market rates in rupees....
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