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| January 03, 2009 | Saturday | Muharram 05, 1430 |
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Weekly inflation eases to 21pc on fall in oil price
ISLAMABAD, Jan 2: The weekly inflation has decelerated from a three decade high in October after a substantial decrease in domestic oil prices in the wake of slump in international oil prices.... 
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Mills working on 50pc capacity amid cane shortage
KARACHI, Jan 2: Sugarcane prices jumped to Rs100 per maund from Rs81 fixed by the government at the start of the current crushing season, which witnessed 29 sugar mills in action out of total 31 in Sindh, growers revealed on Thursday....
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China starts work on Iraqi oil project
BAGHDAD, Jan 2: The Chinese National Petroleum Company (CNPC) started work on a $3 billion oil project in Iraq on Friday, the first foreign firm to begin such work since Saddam Hussain nationalised the industry decades ago....
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Russian gas supplies to Europe drop
MOSCOW/KIEV, Jan 2: European states started suffering from lower Russian gas supplies on Friday while Moscow accused Kiev of stealing transit gas a day after deliveries to Ukraine were cut in a contract dispute....
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Stocks stage modest recovery after months of gloom
KARACHI, Jan 2: Stocks staged a smart recovery on Friday on strong covering purchases on selected counters by both the financial institutions and the leading investors triggered by reports that State...
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4,461 Companies enrolled in 2008
ISLAMABAD, Jan 2: The Securities and Exchange Commission of Pakistan (SECP) registered 4,461 companies last year compared to 4,837 companies it registered during 2007....
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Salim takes SBP charge in tough times
KARACHI, Jan 2: Syed Salim Raza took over the office of Governor State Bank of Pakistan on Friday vacated by Dr Shamshad Akhtar after completion of her three-year term....
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World stocks skyrocket
LONDON, Jan 2: Global stocks skyrocketed on Friday in the first trading day of 2009 amid investor hopes for a brighter year ahead after a horrendous 2008 that hacked down stock markets around the world....
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Hong Kong retail sales up by 1.1pc
HONG KONG, Jan 2: Hong Kong retail sales rose 1.1 per cent year-on-year in November as the impact of the global credit crisis was softened by Christmas shopping and tourism, the government said on Friday....
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India slashes rates, lures funds to aid growth
MUMBAI, Jan 2: India slashed its main interest rates by one percentage point on Friday, its fourth cut in four months, and tried to draw more funds into the country to boost growth as it warned of a tough year ahead....
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Oil prices rebound above $46
LONDON, Jan 2: Crude oil prices rebounded strongly on Friday in volatile trade, after earlier losing about $2.5 on profit-taking, as traders fretted over ongoing unrest in the key oil-producing Middle East....
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Euro slips against dollar
LONDON, Jan 2: The dollar rose against the euro and yen on Friday on the first trading day of 2009, as the foreign exchange market absorbed disappointing manufacturing data for the eurozone, analysts said....
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Panic buying on cotton market
KARACHI, Jan 2: Panic buying continued for the fourth session in a row on Friday as spinners tried to grab the floating stock irrespective of the higher asking prices....
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America’s famous bookstore to be closed
NEW YORK, Jan 2: America’s most famous French bookstore will close its doors this year after 73 years in business, unable to bear a staggering rent increase in New York’s Rockefeller Centre....
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Karachi Port operations
KARACHI, Jan 2: Seven ships, including three cement loaders to load 40,000 tons of the commodity, are expected to arrive at the outer anchorage on Saturday, according to KPT sources....
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Port Qasim
KARACHI, Jan 2: Two ships CMA CGM Eiffel and MT Al-Badiyah carrying containers and diesel oil were arranged berthing at the Qasim International Container Terminal and Fotco oil Terminal respectively and...
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Global imbalances blamed for financial crisis
LONDON, Jan 2: Outgoing US Treasury Secretary Hank Paulson said that a failure to address the rise of emerging markets and resulting imbalances was partly to blame for the global financial crisis, according to an interview published on Friday....
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Sharp drop in US car sales likely
DEARBORN, Jan 2: Ford Motor Co expects industry wide December US auto sales to drop by some 35 per cent from a year earlier with no sign of a turnaround in the first quarter of 2009....
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Belarus devalues currency
MINSK, Jan 2: Belarus on Friday devalued its ruble by more than a fifth against the dollar as it established a new currency basket made up of dollars, euros and Russian rubles in equal proportion....
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Higher fuel demand
FRANKFURT, Jan 2: The German automobile club ADAC said on Friday that last year set records for auto and truck fuel prices, with diesel in particular posting a big jump from the level in 2007....
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US steel industry eyes govt aid
WASHINGTON, Jan 2: The US steel industry is in collapse and looking for a massive government investment programme of up to $1 trillion to stimulate demand for the key commodity, a report said on Friday....
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Asian stock markets mostly higher
HONG KONG, Jan 2: Asian stocks were mostly higher on Friday in the first day of trading for most markets in 2009 as investors stayed on the sidelines after the festive...
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Gold eases in Europe
LONDON, Jan 2: Gold eased in Europe on Friday, the first trading day of the New Year, as oil prices tumbled as much as 8 percent and the dollar strengthened against the euro, cutting the metal’s appeal as a currency hedge....
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Malaysian palm oil gains
JAKARTA, Jan 2: Malaysian palm futures closed up more than 2 per cent on the first trading day of 2009 as strong crude oil, gains in soybean, and bullish exports offered support, traders said....
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Karachi market rates
KARACHI, Jan 2: The following were Friday’s commodity market rates in rupees....
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