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| January 13, 2009 | Tuesday | Muharram 15, 1430 |
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Inflation eases to 23.34pc in Dec
ISLAMABAD, Jan 12: Inflation decelerates from a three decade high in December 2008 after the State Bank of Pakistan raised its benchmark interest rates coupled with slight easing in food prices, suggested data of Statistics Division issued on Monday.... 
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Leading car assembler pushes up rates
KARACHI, Jan 12: A leading car assembler, having over 50 per cent market share, has pushed up prices by Rs40,000 to Rs70,000....
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Car sales drop due to recession
LAHORE, Jan 12: There is no chance of improvement in car sales in the immediate future as the economy is already in recession and the future outlook remains gloomy....
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Salman Shaikh acting chief for SECP
ISLAMABAD, Jan 12: Razi-ur-Rahman Khan on Monday completed his three-year term as the chairman of the Securities and Exchange Commission of Pakistan. His tenure saw the stock market touching new heights and worst lows....
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Policy rate hike looms amid high core inflation
KARACHI, Jan 12: The State Bank of Pakistan on Monday reported the core inflation was above 18 per cent which could be a bad sign for the economy as the further...
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Exporters concerned over TCP role in rice purchase
KARACHI, Jan 12: Exporters claim that prices of basmati and non-basmati rice have increased by around 23 and 30 per cent, respectively, owing to government intervention in rice purchase through Trading Corporation of Pakistan and Pakistan Agriculture Storage and Services Corporation....
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Oil prices fall below $40
LONDON, Jan 12: Oil prices slid under $40 on Monday on concerns that a deepening global economic downturn could spark a slump in demand for energy, analysts said....
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New ISE directors
ISLAMABAD, Jan 12: The Islamabad Stock Exchange (ISE) has elected five new directors for 2009....
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Profit-selling halts recovery drive on KSE
KARACHI, Jan 12: Stocks on Monday failed to extend the weekend rally as leading base shares ran into profit-selling at the inflated levels partly owing to liquidity crunch and partly to margin calls on some of the brokerage houses....
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Clarification
KARACHI, Jan 12: The Karachi Port Trust (KPT), referring to a news item titled: “Senate body flays port minister’s attitude,” appearing on EBR pages on Sunday (Jan 11) has clarified that...
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Indonesia cuts fuel prices
JAKARTA, Jan 12: Indonesia will slash the price of subsidised fuel from January 15 to boost the buying power of Indonesians, President Susilo Bambang Yudhoyono said on Monday....
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Cotton trading resumes on steady note
KARACHI, Jan 12: Cotton market on Monday resumed trading on a steady note but buying activity remained slow as spinners were not inclined to go beyond their immediate needs, analysts said....
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Karachi Port operations
KARACHI, Jan 12: Ten ships, carrying wheat 272 cars and to load cement and ethanol, are due to arrive at the outer anchorage on Tuesday, according to KPT sources....
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WB bars deals with two more Indian firms
MUMBAI, Jan 12: Two Indian companies have been barred from dealing with the World Bank over allegations of improper payments, the bank said, in the latest revelations to hit the country’s IT sector....
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UK unveils £500m job scheme
LONDON, Jan 12: Prime Minister Gordon Brown on Monday announced a 500-million-pound (560-million-euro, $750 million) plan to tackle rising unemployment in a Britain, which faces a deepening recession....
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Nomination for IFAD
RAWALPINDI, Jan 12: The government has nominated Mirza Qamar Beg as its candidate for the office of President of International Fund for Agricultural Development (IFAD), it was officially learnt....
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German power firm to buy Dutch peeFRANKFURT, Jan 12: The second biggest German power company, RWE, said on Monday it had agreed a 9.3 billion euro takeover of Dutch peer Essent.
The two groups “have today reached agreement on the terms and conditions for a binding all-cash offer by RWE to the shareholders of Essent for the acquisition of all of the issued and outstanding shares in Essent,” the statement said....
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Global economy to post significant pick up in 2010
BASEL, Switzerland, Jan 12: The global economy will slow sharply this year before posting a “significant pick up” in 2010, the Group of 10’s central bankers said on Monday....
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Gold falls 1 per cent
LONDON, Jan 12 : Gold slipped 1 per cent on Monday as oil dropped and the euro extended losses against the dollar, while physical demand was seen softening....
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Asian markets lower on woeful US data
HONG KONG, Jan 12: Asian markets were mostly lower on Monday following miserable jobs figures from the United States and continuing fears over the global corporate outlook....
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Palm oil ends up 3.5pc
JAKARTA, Jan 12: Malaysian palm futures rose 3.5 per cent on Monday after the industry regulator announced a drop in end-December palm oil stocks from a record high the month before, traders said....
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Karachi market rates
KARACHI, Jan 12: The following were Monday’s commodity market rates in rupees....
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